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Form FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, Feb. 2-4; not earlier. Board of Governors of the Federal Reserve System February 23, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended February 21 member bank reserve balances increased $134,000,000« Additions to member bank reserves arose from decreases of $19,000,000 in Treasury cash, ($69,000,000 in Treasury deposits with Federal Reserve banks, and $5,000,000 in nonmember deposits and other Federal Reserve accounts, and increases of $5,000,000 in Reserve bank credit, $46,000,000 in gold stock and $2,001:,000 in Treasury currency, offset in part by an increase of 013,000,000 in money in circulation. Excess reserves of member banks on February 21 were estinated to be approximately $3 ,300,000,000, an increase of $130,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended February 21, 1939, were as follows» Increase or decrease since Feb.. 21, 1939 Feb. 15, 1939 Feb. 23, 1938 (in millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial, advances(not including 13 million commitments - February 21) Other Reserve bank credit Total Reserve bank credit Gold stock Treasury currency Member baiik renerve balances Money in circulation Treasury cash Treasury deposits with F. R. banks Nomember deposits and other F. R. accounts 4 1 2,564 15 - 1 — — — — 6 3 8 + 6 + 2,592 14,818 2,821 + 5 + 46 + 2 + 1 ■)2,0>4 + 156 8,841 6,708 2,752 1,181 749 +134 + 13 - 19 - 69 - 5 +1,601 + 384 - 868 +1,026 + 48 10 Form FR-28>-a Released for publication Friday morning, February 2-4,1939; not earlier, STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Feb, 23, Feb. 15, Feb. 21, .. 19J8_ „„1919 ,193.9 . ASSETS Gold certificates on hand and due from U,S,Treasury 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 Total bills and securities Due from foreign banks F. R, notes of other banks Uncollected items Batik premises Other assets TOTAL ASSETS 12,04-9,719 10,259 445,875 12,505,853 +43,501 +1,403 + 7,025 +51,929 +2,882,119 + 1,104 + 6,434 +2,889,657 2,289 2,128 4,417 553 14,647 - 789 + 147 — 642 - 15 ~ 4,372 1.059 - 5,731 +3 - 2,870 840,893 1,215,466 507.656 2,564,015 2,583,632 169 17,480 588,753 42,804 50,181 — — - 657 +126,210 +4o,3o3 -166,573 — - 8,598 — 15,788,872 -3,767 —113-021 - 23 + 669 - 64,870 + 1,325 +95,134 -2,125 +5,547 +2,980,940 4,344,462 -5,374 +218,232 8,840,548 1,180,791 225,974 268,904 10,516,217 580,973 +133,357 “69,626 -40,366 +35,428 +58,793 -118,530 +1,600,050 +1,025,750 + 80,165 - 28,756 +2,677,209 +85,548 + 8 - 65,103 ~ 876 +2,980,113 +17 + 1,713 + 1,413 - 4l8 - 1,881 +2,980,940 LIABILITIES F, R. notes in actual circulation Deposits! Member bank — reserve account U, S. Treasurer - General account Foreign bank Other deposits Total deposits Deferred availability items Other liabilities including accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital, accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of total reserves to deposit and F. R, note liabilities combined Contingent liability on bills purchased for foreign correspondents Commitments to malee industrial advances 2,955 15 ,444,607 134,930 149,152 27,2.64 32,919 15,788,872 84,2$ — 12,907 — — +216 — 64,870 +.1$ •— • + 27 + 3.8% -830 -171 Form FR—283—b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 21, 1939 (in thousands of dollars) ASSETS Total Boston New York Phila. Gold certificates on hand and due from U. S. Treasury 12,0-49,719 Redemption fund - F.R.notes 10,259 Other cash 445,875 702*169 5,627,500 582,183 1,105 1 ,2.93 912 40,243 129,497 38,865 779,152 329,031 256,863 2,028,690 309,329 247,023 289,442 186,103 712,234 968 534 426 1,168 764 518 4o7 639 1,525 28,950 24,802 20,272 63,578 17,843 10,200 18,151 15,432 38,042 743,517 5,758,290 621,960 809,070 354,367 277,561 2,093,436 327,936 257,741 308,000 202,174 751,801 Total reserves 12,505,853 Bills discounted* Secured by U.S.Gov’t obligations, direct or fully guaranteed 2,289 Other bills discounted 2,128 Total bills discounted Gleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas 12 10 1,081 443 623 540 161 64 25 115 180 138 35 8 22 1,52.4 1,163 213 56 2,919 l4o 24 1,248 318 42 225 52 ■464 43 70 453 90 25 71 55 394 32 164 90 96 449 196 2 8 2 870 16 231 16 620 San Fran. 60 91 151 4o 1,297 4,417 553 14,647 1,868 840,8^3 1,215,466 507,656 61,659 89,123 37,224 237,660 67,514 343,525 97,586 143,478 40,759 84,588 43,790 38,832 122,269 63,297 56,129 51,067 26,437 23,443 92,091 39,296 26,386 43,323 34,901 70,853 133,113 56,802 38 ,l40 62,620 50,447 102,415 55,596 23,724 15,929 26,154 21,070 42,775 Total U.S.Gov’t securities 2,564,015 188,006 724,663 205s859 257,924 133,524 118,4o4 280,800 119,822 80,455 132,097 106,4l8 2l6,o43 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets 2,583,632 189,938 12 558 52,869 2,940 3,269 730,247 209,997 16 66 3,216 747 154,135 38,502 9,021 4,689 13,923 4,467 258,665 134,936 119,564 6 7 15 2,036 892 1,137 66,724 49,714 26,767 5,992 2,6l4 2,070 5,652 3,210 2,292 281,366 119,922 81,423 132,793 107,250 217,531 12 5 20 2 5 3 724 1,100 2,641 2,248 1,645 536 74,051 26,126 14,258 27,886 24,485 33,236 3,226 3,955 2,287 1,520 3,235 1,255 4,324 2,148 1,584 1,970 2,367 4,975 Industrial advances i Bonds Treasury notes Treasury bills TOTAL ASSETS 169 17,480 588,753 42,804 - 50*181 15,788,872 3,847 20 822 993,103 6,668,898 880,378 1,147,010 545,985 430,296 2,460,444 480,670 357,252 475,386 337,675 1,011,775 Form FR-283-C STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 21, 1939 (in thousands of dollars) LIABILITIES Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total Boston New York Phila. F.R.notes in actual circulation 4,344,462 Deposits t Member bank - reserve account 8,840,548 U.S.Treasurer - General account 1,180,791 Foreign bank 225,974 Other deposits 268,904 Total deposits 10,516,217 Deferred availability items 530,973 Other liabilities including accrued dividends 2,955 993,198 317,04l 419,662 195,786 148,818 982,844 178,854 134,119 167,681 76,732 350,975 406,065 4,805,703 395,130 110,354 317,061 66,515 80,704 21,915 16,267 5,584 208,318 7,350 475,467 232,156 184,762 1£79,158 217,971 117,302 223,690 179,190 127,04o 42,345 43,567 244,920 34,511 72,661 33,439 33,244 21,011 9,715 7,907 27,337 6,552 5,196 6,552 6,552 %6 4,4io 5,132 1,980 6,955 5,090 5,183 5,051 518,954 55,134 16,266 13,025 538,270 5,411,786 490,910 52,028 143,783 40,007 628,650 286,196 243,1911,356,505 264,217 200,210 269,507 223,396 603,379 32,647 378,752 257 1,056 237 66,005 49,161 25,675 232 61 121 76,306 27,083 13,744 27,980 26,554 526 81 277 122 112 73 TOTAL LIABILITIES 15,444,607 969,307 6,549,823 848,195 1,114,549 531,204 417,805 2/415,981 470,235 348,195 465,445 326,755 987,113 CAPITAL ACCOUNTS Capital paid in 4,240 3,962 10,534 134,930 9,4)5 50,980 12,049 13,679 5,079 4,522 13,601 3,967 2,912 Surplus (Section 7) 149,152 10,083 52,463 13,696 14,323 4,983 5,630 22,666 4,685 3,153 3,613 3,892 9,965 Surplus (Section 13 b) 1,001 1,142 1,266 2,121 27,264 2,874 7,457 4,4l6 1,429 545 1,007 3,293 713 Other capital accounts 6,767 1,238 3 , 4 5 2 1 , 4 2 6 1,626 1,991 946 1,800 2,042 32,919 1,434 8,175 2,022 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 15,788,872 993,103 6,668,898 880,378 1,147,010 545,985 430,296 2^60,444 480,670 357,252 475,386 337,675 1,011,775 Commitments to make industrial advances 2,700 1,508 l,4o6 1,152 153 58 418 195 689 44 3,336 12,907 1,248 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Within 15 days 4,417 553 14,647 2,564,015 3,316 304 2,143 147*733 » Bills discounted Bills bought .Industrial advances U. S. Government securities l6 to 30 days 60 days 6l to 90 days 138 381 258 147 101,710 226 648 78,510 266 — . 31 to 23 179,703 91 days to 6 months 6 months to 1 Year 287 — 1,949 85,197 37 «_ 3,387 173,142 1 Year to 2 Years — -- 3,924 390,654 2 Years to 5 Years -- 2,183 647,218 Over 5 Years —— -- 760,148 Form FK-283—d FEDERAL RESERVE NOTE STATEMENT Oil FEBRUARY 21, 1939 (In thousands of dollars) Total Boston Hew York Phila. Oleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notesi Issued to F.R. bank by F.R.agent 4,64$,519 398,749 1,092,131 332,725 439,475 205,352 160,644 I,0l6,0l4 194,121 13£,t-37 175,042 84,260 408,469 Held by Federal Reserve bank 301,357 19,997 98,933 15,684 19,813 9,566 11,826 33,170 _15,267 7,361 7,528 57,4q4 In actual circulation 4,344,462 378,752 993j198 317,04l 419,662 195,786 148,818 982,844 178,854 134,119 1.67,681 76,732 350,975 Collateral held by agent as se curity for notes issued to bank* Gold certificates on hand and due from U. S. Treasury 4,771,000 420,000 1 ,105,000 345,000 443,000 210,000 169,000 1,035,000 199,000 143,500 ICO,000 87,500 434,000 Eligible paper 3,656 12 1,507 672 217 l4o 251 43 25 46 429 191 123 Total collateral 4,774,656 420,012 1,106,507 345,672 443,217 210,l4o 169,251 1,035,043 199,025 143,546 180,429 87,091 434,123
@FedFRASER