The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
STATEMENT TOR THE PKESS Board of Governors of the Federal Reserve System February IS, 1937 Released for publication Friday morning, Feb. 19; not earlier. C0NDITI01I OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended, February 1J9 as reported by the Federal Reserve banks, was $2,^82,000,000, a decrease of $3,000,000 compared with the preceding week and of $22,000,000 compared with the corresponding week in 193&« On February 17 total Reserve bank credit amounted to $2,H7S,000,000, an increase of $1,000,000 for the week. Decreases of $9,000,000 in money in circulation, $3,000,000 in member bank reserve balances and $13,000,000 in nonmember deposits and other Federal Reserve accounts, and an increase of $16,000,000 in monetary gold stock, were offset by an increase of $4-2,000,000 in Treasury cash and deposits with Federal Reserve banks® Member bank reserve balances on February 17 were estimated to be approximately $2,190,000,000 in excess of legal requirements. Relatively small changes were reported in the System1s holdings of bills discounted, purchased bills and industrial advances. An increase of $9,000,000 in holdings of United States bonds was offset by a decrease of $9,000,000 in United States Treasury notes. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended February 17, 1937, were as follows: Increase or decrease since Feb, 17 1937 Feb. 10 Feb."19 -1936 • (In millions of dollars) Bills discounted Bills "bought U. S. Government securities Industrial advances (not including 20 million commitments - February 17) Other Reserve "bank credit 3 3 2.U30 TOTAL RESERVE B&JK CREDIT Monetary gold stock Treasury currency 2,^78 Money in circulation Member "bank reserve "balances Treasury cash and deposits with F.R.bariks Honmember deposits and other F. R. accounts 23 IS — -2 — — — -1 — +1 -9 -lU -27 11. 2,530 +16 +1,2^3 +31 6,351 ~9 -3 +5+2 -13 +5S0 4536 6,76s 2,737 556 Li '-26 (B-S01) Released for publication Friday morning, February 19,1937; n o t earlier, B-S01a ASSETS A1ID LIABILITIES OF THE TWELVE FEDERAL RESERVE BASES COMBIHED (in thousands of dollars) Feb. 17,1937 Feb. 10,1937 Feb. 19,1936 ASSETS Gold certificates on hatnd and due from U» S. Treasxiry , . Redemption fund - F. R. notes « . . . . •>»..... Other cash . , . Total reserves Bills discounted: Secured "by U.S.Gov't obligations,direct or fully guaranteed . Other bills discounted . . . . . Total bills discounted . . . Bills bought in open market . . . Industrial advances . . . . . . . U. S. Government securities: Bonds Treasury notes . Treasury bills Total U.S. Government securities Other securities . . 3 . . Total bills and securities . . . Due from foreign banks . . P. R. notes of other b^ks Uncollected items . . . . Baric premises . . . . . . All other assets . . . . , TOTAL ASSETS 8,8^7,385 11,925 9,114,250 2,699 3^6 3,oU5 3,071 23,230 S,37s 12,71! 6 277,090 9*i3S,2iU 2,1^2 mi 2,523 3,081 23,5S2 507,^82 1,330,663 592,082 2/430,227 U9S,232 1,339,913 592,032 2/130,227 2,^59,573 23s 2/459/473 226 22,897 562,251 U6.152 7^5,150 1+6,152 14,092 7,670,230 15,367 — 3^1>97S 8,027,575 3,780 2,807 6,587 ^673 31,86s 215,685 1,622,5*4 181 2,^73,5^9 6)48 is,552 559,927 47,799 39,016 12,^63,937 12,270,678 11,167,126 U, 160,199 165,23s 3,66^,670 6,767.7^0 162,357 110,R35 189,H96 6,770,S5U 132,152 102,303 207.319 7,213,128 5,S32,Ol+8 ^72,821 ^1,865 275i37S 6,632,112 528,885 130,713 1^5,501 p6,Ui9 3^,111 koa LIABILITI F. R. notes in actual circulation Deposits: Member bank ~ reserve account . U.S.Treasurer - General account Foreign bank e Other deposits . . . . . . Total deposits . . Deferred availability items Capital paid in . . . . . . Surplus (Section 7) . . . . Surplus (Section 13 b) . . . Reserve for contingencies . All other liabilities . . . TOTAL LIABILITIES . . . . 7,230,17s 727,036 1^2,2^6 145,1?^ 27,190 36 .'200 5,03^ 12,^63,937 132,239 27,190 36,235 12,270,67s Ratio of total reserves to deposit and F. R. note liabilities combined . . so.3$ S0.3 $ Commitments to make industrial advances 19,67s 19,939 11,167,126 78.0f, ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMKS OF FEBRUARY 17. 1937 (In thousands of dollars) B-SOlb ASSETS Total Boston Hew York Phila. Cleve. (}oId certificates on hand and due from U. S. Treasury Redemption fund - F.R.notes Other cash Rich. Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran. 8,347,335 575,635 3,563,558 US3,3H 629,953 221,670 237,632 1,626,5^5 2^4,103 167,705 2 ^ 5 , ^ 5 133,30^ 609,019 11,925 1,182 1,369 31S 531 753 2,340 1*56 1,468 371 ~ 596 ' 636 1,355 284,1*1)0 21,424 77,393 29,133 19,963 19,5^1 12,971 31,633 16,572 3,775 16,28§ 6,069 24,621 Total reserves 9,iUU,250 Bills discounted: Secured by U.S.Gov't obligations, direct or fully guaranteed 2,699 346 Other "bills discounted 3,045 Total "bills discounted Bills "bought in open market 3,071 Industrial advances 23,230 U. S. Government securities: 507,1*82 Bonds 1,330,663 Treasury notes 592,032 Treasury "bills 593,241 3,642,320 512,817 650,1+97 301,98* 252,943 1,658,639 262,l4s 177,351 262,326 190,009 634,995 55 1,337 176 525 5+5 55 224 2,769 2,013 1,032 5,353 525 319 4,339 45 293 1,160 136,205 1*0,673 52,253 357,145 106,650 137,011 153,910 47,1*54 60,964 36,636 96,191 42,301 60 100 35 — 120 2,543 160 103 361 35 335 1,110 13 36 343 27,360 73,052 3 2,504 22,953 60,197 26,736 57,720 151,347 67,343 24,235 63,544 23,275 50 9 43 6 7 61 S32 59 37 757 47 37 1.299 36 219 i,so4 17.839 1+6,776 20,314 26,1*37 69,320 30,344 19,331 44,735 51,993 117,432 23,137 52,250 35,429 126,601 94,955 214,467 1 12 30 Total U.S.Gov't securities 2,1*30,227 175,673 652,260 194,777 250,223 133,4l6 109,941 276,1*10 116,054 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets 2,-1*59,573 172,726 233 17 24,432 322 7^5,150 72,331 1*6,152 3,057 44,092 2,717 661,213 200,010 251,726 136,079 110,570 3 10 97 23 21 2,434 2,231 6,950 779 1,215 189,736 6i+,07!* 73,613 60,325 27,139 10,13s 2,300 2,237 4,952 5*31? S 4,964 11,563 1,838 2,738 5,35; 277,940 116,501 36,329 127,50^ 96,399 216,576 16 6 6 1* 3 27 2,665 726 934 2,763 1,133 2,225 39,159 30,727 15,372 35,502 33,031 99,01*1 1,501 3,235 1,261 3,449 2,390 4,710 3,344 1,685 2,092 1,633 1,808 4,252 TOTAL ASSETS 12,463,937 855,411 1*,522,017 788,013 938,408 506,197 397,219 2,01*6,834 423,695 283,429 431,699 320,811 900,204 ASSETS AED LIABILITIES OF THE FEDERAL RESERVE BAMS Oil FEBRUARY 17, 1937 (In thousands of dollars) LIABILITIES 3-SOlc otal Boston ITew York Fhila. Cleve. F.R.notes in actual circulation 4,160,199 350,525 372,325 Deposits: Member "bank - reserve account 6,767,740 3"7,i57 3,132,620 U.S.Treasurer - General account lo2,357 39,526 9,64i Foreign "bank 110,535 39,910 3,074 Other deposits 159,%6 3,510 122,336 Total deposits 7,230,172 403,322 3,33^,392 727,036 T2,52S 132,121 Deferred availability items Capital paid in 132,246 9,372 51,53? Surplus (Section 7) 145,554 9,326 51,474 Surplus (Section 13 "b) 2,374 27,190 7,7^ Reserve for contingencies 1.5TP 36,200 9,260 All other liabilities 274 5,03^ 1.302 TOTAL LIABILITIES Commitments to make industrial advances Chicago St.Louis Rich. Atlanta 305,127 4i2,so7 197.331 1S3.501 366,51*5 12,296 10,£39 1,692 422,T66 216,S2S 216,222 157,633 19,06s 2,200 7,024 10,176 4,756 3,371 14,121 4,553 6,725 391,372 52,306 12,240 13,362 ^,325 3,000 221 ^72,131 234,942 175,^23 71,693 59,092 25,735 12,241 4,si4 4,313 1^,323 4,269 5,616 1,007 3,422 754 3,120 1,522 1,690 421 205 132 Minn. Kans.Cy. Dallas San Fran. 949,239 ITS,35^ 133,717 159,961 27,503 323,6S9 914,332 135,532 113,616 220,232 169,333 474,990 4,016 2,212 11,222 16,123 6,492 25,205 7,353 2,544 3,207 3,207 3,313 12,230 5,362 17,315 1,354 6,908 4,229 220 95^,371 202,262 125,005 225,371 129,246 516,721 93,205 32,626 15,^20 35,951 32,902 35,796 2,906 3,990 3,352 10,205 12,571 3,793 21,504 4,655 3,116 3,613 3,351 9,645 545 1,003 1,696 l,4i6 1,142 1,262 1,347 2,037 7,9^3 1,197 2,053 931 34? 255_ 253 ?4o 129JzL&X. 12,463,937 255,411 4,522,017 722,013 922,402 506,197 397,219 2,046,234 423,695 223,429 431,699 320,311 900,204 19,672 1,916 219 3,129 1,109 2,252 253 10 1,295 69 213 4g6 3,691 MATURITY DISTRIBUTION OF BILLS A11D SECURITIES Total Bills discounted Bills "bought Industrial advances U. S: 3-overnment securities 3,045 3,071 23,230 2,430,227 Within 15 days 2,919 335 1,001 27,202 16 to 30 days — . 702 207 31,535 61 to 91 days to 31 to 60 days 90 days 6 months 9 1,637 935 102,425 37 391 469 35,017 b months to 1 Year 26 2 Years Over to 5 Years 5 Yqslts 4 — 1,623 253,033 1 Year to 2 Years 4,o44 3S9»7C3 —-. 5,67^ 293,sHo 9,272 333,534 457,203 IkAI, HSSSHVS HOTS STATELET Oil FEBRUARY 17, 1937 (In thousands of dollars) B-3Gld Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Hans.Oy. Dallas San Fran. Federal Reserve notes: Issued to F.H.-bank by F.H.agent 4,1+72,4119 379,027 Held by Federal Reserve bank 312,250 28,442 971,572 324,739 441,358 207,666 206,893 93,157 19.&-2 28,551 10,335 23,397 9 7 5 , 1 9 0 , 1 1 5 13S.725 IbS,22S 26*375 11.76l 5,00S S,2b7 95,137 373,370 7,634 49,681 4,l60,199 350,535 378,385 305,127 412,807 197,331 183.501 9^9,239 17s,35^ 133,717 159,961 37,503 323,bS9 In actual circulation Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. Ss Treasury Eligible paper U. S. Gov't securities Total collateral 4,488,132 406,000 990,000 332,000 443,000 208,000 log,000 990,000 171,632 128,000 167,000 95,500 389,000 2,9^3 55 1,920 5 25 45 — l60 35 13 7 58 47 83 87,000 -— — — — 45,000 — 22,000 15,000 5,000 578,080 406,055 991,920 332,525 443,045 208,000 213,160 930,035 193,^5 143.007 172,05s 95,5^7 339,083
@FedFRASER