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STAX3.IE1IT FOR THE PRESS Released for publication Friday morning, Feb. 26j not earlier. Board of Governors of the Federal Reserve System February 25, 1937. CONDITION OF FEDERAL RESERVE BMKS The daily average volume of Federal Reserve bank credit outstanding during the w£ek ended February 2-4, as reported by the Federal Reserve banks, was 02,46§..OOO,OOO, a decrease of §16,000,000 compared with the preceding week and vdth/fco'r responding week in 1936. On February 24 total Reserve bank credit amounted to 02,460,000,000, a decrease of 018,000,000 for the week. This decrease corresponds with a decrease of 063,000,000 in member bank reserve balances, and increases of $22,000,000 in monetary sold stock and 02,000,000 in Treasury currency, offset in part by increases .of 021,000,000 in money in circulation and 04-5,000,000 in Treasury cash and deposits with Federal Reserve banks. Ileiaber bank reserve balances on February 24' were estimated to be approximately 02,100,000,000 in excess of legal requirements. Relatively small changes were reported in the System's holdings of bills discounted, purchased bills and industrial advances. Increases of 017,000,000 in holdings of United States bonds and 01,000,000 in United States Treasury'bills were offset by a decrease of 013,000,000 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 24, 1937, were as follows: Increase or decrease since Feb. 2.4 1937 Feb. 17 1937 Feb. 26 1936 (in millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 20 million commitments - February 24) Other Reserve bank credit TOTAL RESERVE BA1JK CREDIT Monetary gold stock Treasury currency Money in circulation Member bank reserve balances Treasury cadi and deposits with F.P..banks IJonmember deposits and other F.R. accounts +1 23 -1 2,460 11,425 2,532 6,372 6,705 2,762 557 -3 -2 3 2,430 -19 -18 +22 +2 -9 -2 -15 +1,262 +30 +21 +597 -63 +45 +866 +1 -167 -20 (B-8C1) Released for publication Friday morning, February 26,1937; not earlier. B-801a ASSETS AND LIABILITIES OF IKB TWELVE FEDERAL RESERVE BA15KS COLBIIIED (in thousands of dollars) Feb. 2-4,1937 Feb. 17,1937 Feb. 26,1936 ASSETS Gold certificates on hand and due from S. Treasury • • • • Redemption fund - F. E. notes • Other cash . • * t * Total reserves « • Bills discountedi Secured by U.S*Qovit 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 UaS« Governnent securities • • • • • • Other securities • . . , . • • • Total bills and securities • • • • Due from foreign banks . . F. R. notes of other batiks Uncollected items . . •. Bank premises All other assets TOTAL ASSETS 8,847,384 11,475 270,622 9,129,481 8,847.885 11,925 284,440 9,1^4,250 7,670,230 14,402 348,259 8,032,891 3,406 701 4,107 3,083 23,350 2,699 346 3,045 3,071 23,230 4,099 2,833 6,932 4,673 31,773 52-4,282 1,313,371 592,574 2,430,227 507,482 1,330,663 592,082 2,430,227 2,460,767 225 2,459,573 238 24,482 745,150 46,152 44,092 215,690 1,622,544 592,011 2,430,245 181 2,473,804 649 17,693 547,021 47,813 39,717 20,260 681,605 46,152 46,611 12,385,101 12,463,937 11,159,588 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 . . . . Capital paid in Surplus (Section 7) . Surplus (Section 13 b) Reserve for contingencies All other liabilities TOTAL LIABILITIES- 4,167,930 4,160,199 3,677,076 6,705,293 179,882 122,746 179,263 7,187,184 5,838,708 433,118 52,747 269,757 5,796 6,767,740 162,357 110,585 189.496 7,230,178 727,036 132,246 145,854 27,190 36,200 5,034 6,594,330 546,418 130,708 145,501 26,419 34,110 5,026 12,385,101 12,463,937 11,159,588 682,698 132,249 145,854 27,190 36,200 Ratio of total reserves to deposit and F. R. note liabilities combined . . . . 80.4$ 80.3% 78.2% Commitments to make-industrial advances . 19,523 19,678 25,866 ASSETS HID LIABILITIES OP THE FEDERAL EESE3VE BAHKS OIT FEBHJARY 2k, 1937 (In thousands of dollars) B-SOlb ASSETS Total Boston Hew York Phila. Gold certificates on hand and due from U. S. Treasury Eedemption fund - P.E.notes Other cash Total reserves Bills discounted: Cleve. Eich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, 8,847,384 567,073 3,540,387 488,447 636,042 286,096 244,424 1,644,2.48 252,856 168,966 242,637 183,783 592,425 816 1,452 861 565 615 1,308 11,475 1,143 1,157 253 502 504 2,299 31,864 16,631 8,730 15,595 5,884 22,921 270,622 18,409 71,049 29,003 18,631 19,289 12,616 9,129,481 586,625 3,612,593 517,703 655,175 305,889 259,339 1,676,928 270,939 173,557 258,797 190,282 616,654 3,406 701 70 110 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 524,282 37,900 1,313,371 94,942 592,574 42,836 140,715 42,019 53,983 28,782 23,718 352,501 105,265 135,231 72,102 59,416 159,044 47,493 61,014 32,532 26,807 59,631 25,037 18,430 27,312 20,487 46,268 149,381 62,719 46,168 68,419 51,323 115,904 67,398 28,298 20,831 30,870 2.3,156 52,295 Total U.S.Gov1t securities 2,430,227 175,678 652,260 194,777 250,228 133,4l6 109,941 276,410 116,054 85,429 126,601 94,966 214,467 Total "bills and securities Duo from foreign banlcs F. E. notes of other banks Uncollected items Bank premises All other assets 2,460,767 178,826 661,943 200,054 251,743 136,188 110,582 277,940 116,551 86,330 127,503 96,388 216,719 6 16 27 4 3 6 2,174 2,298 874 1,694 531 2,530 96,777 31,767 15,811 36,557 30,460 34,702 4,710 2,390 1,501 3,285 1,261 3,449 4,480 1,916 1,764 2,218 1,791 3,5k) TOTAL ASSETS 4^107 3,083 23,350 225 20,260 155 — 155 224 2,769 17 326 681,605 66,706 46,152 3,057 46,611 2,880 2,204 526 2,730 1,096 5,857 85 595 — — — 595 319 4,363 22 70 293 1,152 21 110 120 2,542 10 75 100 35 175 108 358 35 385 1,110 8 4,480 640 1,048 1,693 1,972 164,412 50,359 67,285 56,896 29,873 10,138 4,952 6,372 2,800 2,237 12,346 5,616 5,213 2,929 1,918 51 12 63 86 348 7 — 7 60 834 50 9 59 87 756 4 44 48 87 1,287 50 10 60 218 1,974 12,385,101 838,437 4,465,997 779,346 986,857 506,405 405,929 2,063,036 425,865 284,840 430,060 320,719 877,610 ASSETS A2JD LIABILITIES OF THE FEDERAL RESERVE BALKS Oil FEBRUARY 2k, 1937 (In thousands of dollars) B-SOlb L I A B I L I T I E S Total Boston Hew York rhila. Cleve. F.R.notes in actual circulation 4,167,930 Deposits: Meniber "bank - reserve account 6 ,705,293 U.S.Treasurer - General account 179,882 Foreign "bank 122,746 Other deposits 179,263 Total deposits 7,187,184 682,698 Deferred availability items 132,249 Capital paid in 145,854 Surplus (Section 7) 27,190 Surplus (Section 13 b) 36,200 Reserve for contingencies 5,796 All other liabilities TOTAL LIABILITIES Commitments to make industrial advances 353,727 Rich. Atlanta 881,212 305,475 418,287 195,736 182,752 378,729 3,102,641 358,536 417,544 31,912 19,225 27,447 5,295 47,639 11,519 10,814 8,580 889 13.957 1,929 114.910 394,533 3,297,102 390,169 469,762 166,240 50,325 66,967 66,313 9,372 51,342 12,240 12,836 9,826 51,474 13,362. 14,323 2,874 7,744 4,325 1,007 1,570 9,260 3,000 3,120 222 1,623 450 555 214,938 158,882 14,844 8,256 5,054 4,114 4.518 9.741 239,354 180,993 56,468 29,644 4,815 4,317 4,869 5,616 3,422 754 1,522 1,690 219 163 Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 94-7,902 177,626 134,059 159,155 87,759 324,240 928,569 188,266 114,011 215,650 166,418 461,109 30,714 6,031 4,234 6,048 15,030 10,856 3,409 8,345 13,634 3,526 2,703 3,409 1Q3 _ 5,129 15,606 803 6,747. 4fS4l 973,720 204,570 125,709 225,300 189,976 495,916 97,035 33,189 15,683 35,664 31,723 33,447 3,798 2,906 3,991 3,855 10,214 12,563 3,116 3,613 21,504 4,655 3,851 9,645 545 1,003 1,142 1,262 1,696 l,4l6 931 1,847 2,037 7,943 1,197 2,083 201 264 285 415 446 953 12,385,101 838,437 4,465,997 779,,346 986,857 506,405 405,929 2,063<,036 425,865 284,840 430,,060 320,719 877,610 19,523 1,916 8,113 217 1,104 2,310 283 10 68 1,295 213 4^3 3,511 1.IA.TURITY DISTRIBUTE Oil OF BILLS A1ID SECURITIES Total Bills discounted Bills bought Industrial advances U. S. Government securities 4,107 3,083 23,350 2,430,227 Within 15 days 3,84l 762 977 31,959 16 to 30 days 13 1,889 197 29,724 31 to 60 days 77 247 894 68,778 61 to 90 days 12 185 517 48,597 91 days to 6 months 6 months to 1 Year 161 — 1,589 261,400 3 — 4,087 385,337 1 Year to 2 Years 2 Years to 5 Years Over 5 Years — — — — — — 5,657 293,840 9,432 839,584 471,008 FE32ERAJ. RESERVE NOTE STA-TEMEITT Oil FEBRUARY 2U, 1937 (In thousands of dollars) B-SOlb Total Boston ITow York Phila, Clove. Federal Reserve notes: Issued to F.R.barik by F.R.aSent 4,4-72,092 331,453 Held by Federal Reserve bank 304,162 27,726 In actual circulation 4,167,930 353,727 Rich, Atlanta Chicago St.Louis Minn. Eans.Cy. Dallas San Fran. 970,075 324,386 443,653 207,357 206,162 973,476 189,751 139,157 170,267 96,502 369,853 88,863 18,911 25,366 11,621 23,410 25,574 12,125 5,098 11,112 8,743 45,613 881,212 305,475 418,2.87 195,736 182,752 947,902 177,626 134,059 159,155 87,759 324,240 Collateral held by agent as security for notes issued to baukj Gold certificates on hand and due from U. S. Treasury 4,492,132 406,000 El igible paper 3,886 155 U. S. Gov't securities 87,000 — Total collateral 4,583,018 406,155 990,000 332,000 445,000 208,000 168,000 990,000 171,632 128,000 167,000 97,500 389,000 2,512 595 70 110 175 35 63 7 58 48 58 — — — 45,000 — 22,000 15,000 5,000 -992,512 332,595 445,070 208,110 213,175 990,035 193,695 143,007 172,058 97,548 389,058
@FedFRASER