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STATEMESTT FOR THE PRESS Released for publication Friday morning, Mar# 1; not earlier. B-801 Federal Reserve Board February 28, 1935• CONDITION OF FEDERAL RESERVE BABES The daily average volume of Federal Reserve bank credit outstanding during the week ended February 27, as reported by the Federal Reserve banks, was $2,H53,000,000, a decrease of $13,000,000 compared with the preceding wee:: and of $121,000,000 compared with the corresponding week in 193**• On February 27 total Reserve bank credit amounted to $2,^50,000,000, an increase of $2,000,000 for the week. This increase corresponds with increases of $7l+,000,000 in Treasury cash and deposits with Federal Reserve banks and $17,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $2,000,000 in Treasury and national bank currency, offset in part by an increase of $35,000,000 in monetary gold stock and a decrease of $57,000,000 in member bank reserve balances. Relatively small changes were reported in holdings of discounted and purchased bills, United States Government securities and industrial advances. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended February 27, 1935* were as follows: Increase or decrease since Feb. 27 im Feb. 20 1935 Feb. 2S 19^ (In millions of dollars) 3ills discounted 3ills bought J. S. Government securities Industrial advances (not including lU million commitments - February 27) )ther Reserve bank credit 6 6 2,^30 19 -12 ?0TAL RESERVE BAilK CREDIT '0netary gold stock Preasury and national bank currency 2.U50 toney in circulation lember bank reserve balances ?reasury cash and deposits with J1. R .banks lonmember deposits and other S'.E.accounts 5.^2 -58 — 2,520 3,006 457 — — ~ -56 -2 +19 -20 +2 +35 -2 -117 +1,086 +2 IS — — -57 +SS +1,1+95 +17 -1*35 +38 +1k Released for publication Friday morning, March 1, 19355 n0,fc earlier. B-SOla ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) Feb. 27,1935 Feb. 20,1935 Feb .28,193*1 ASSETS Gold certificates on hand and due from U# S # Treasury Redemption fund - F # R« notes • . . Other cash • ,• Total reserves Redemption fund - f 9 R. bank notes • • • Bills discounted: Secured by TJ#S»Govft# obligations,direct and/or fully guaranteed . • . . * • • Other hills discounted Total hills discounted • . . * • t Bills bought in open market . • * * t • • Industrial advances • • » U. S. Government securities: Bonds * * • Certificates and hills • . . . . • • Total U.S. Government securities Other securities Total hills and securities # . • » Due from foreign hanks • * F, R. notes of other banks • . • . Bank premises All other assets TOTAL ASSETS • • 5,S15.S71 5,516,081 15,852 253,317 5,785,250 250 250 3,895,811 35,138 208,721 4,139,676 12,595 3,113 3,351 2,719 3,207 46,028 5,505 5,926 5,501 64,390 62,345 5,543,025 15,799 257,047 19,163 18,729 395.688 1,5H,19S 523,425 2,430,311 395,7^! 1,511,675 522,925 2,430,34s — • 2,^61,1+1+3 p S03 18,529 477,747 1+9,1+36 2,1+60,504 807 18,61+9 1+82,633 1+9,1+36 18,362 « 442,830 1,055,420 , 933,701 2,431,951 653 2,559,339 3,485 13,293 410,791 • • .• • • • 46,657 1+5,811+ 52,382 117,441 . . *. • • m 8,270,736 8,81+3,31+3 7,309,002 • * • • • • 3,138,751 l,32l+ 3,127,655 1,242 2,979,637 195,376 • • * • • 4,61+1+, 795 38,1+22 13,629 3,093,H9 • 4, 587,9^9 99,181 1^,355 , 196,7^6 L I A B I L I T I E S P., R # notes in actual circulation . F» R. hank note, circulation - net Deposits: Member bank - reserve account # . U.S# Treasurer - General account Other deposits Total deposits •• • • • l+, 292,231 1+90,259 147,031 144,893 12,830 Surplus (Section 13 b) 30,821+ 6,593 All other liabilities TOTAL LIABILITIES , • • • Ratio of total reserves to deposit and F, R. note liabilities combined . Contingent liability on bills purchased for foreign correspondents • . . • # Commitments to make industrial advances • • 8,870,736 72.^ 178.973, 4,875,819 495,913 146,953 144,893 12,751 30,821 45,261 3,^33 12^.568 3.265,381 406,909 145,310 138,383 — 7,296 22,527 155.479 8,843,343 7,309,002 72.3$ 357 366 13,963 12,940 66.3$ 4,835 — A5S3TS AND LIABILITIES OP THE FEDERAL RESERVE BANIIS ON PEBRUA.Hr 27, 1935 (In thousands of dollars) A S S E T S Total Boston New York Phi la. Cleve. Rich. Atlanta B-801b Chicago St.Louis Minn. Ivans. Cy. Dallas San Pran Gold certificates on hand and due 5.543.025 398.427 2,106,196 283,312 415,885 186,165 112,817 1,080,935 193.022 140,4-55 189,931 118,355 from U. S. Treasury 660 476 49b 1,307 2,080 1,640 1,359 222 445 Redemption fund - P. R. notes 3,459 15.799 375 23,311 9,713 11,022 11,034 6,484 72,656 3l+,6l+6 9,814 10,861 13,336 Other cash 257,01+7 28,993 5,815,871 427,800 2,180,159 320,038 427,339 198,385 1 3 0 , 1 1 2 1 ,110,406 203,180 151,953 201,461 125,061 Total reserves — — — — — 250 — — 1 250 — Redemption fund - P. R. "ban!-: notes Bills discounted: Secured by U.S.Gov't. obligations, — 10 100 285 105 115 direct and/or fully guaranteed 1,81+5 353 267 13 3,113 66 1+2 6 36 l4l 82 2,514 382 Other bills discounted 5 23 23 3,351 308 36 408 Total bills discounted 6,464 76 197 19 123 5 1^7 4,359 735 204 143 651 105 84 149 19s 1+01+ Bills bo-ught in open rnar::et 2,101+ 555 523 5,505 1+97 l,4o6 Industrial advances 1,346 1,83s 2,102 1,087 3,087 1,291 633 19,163 1,499 3,691 U. S. Government securities: 6i,o64 15,949 15,379 13,334 18,819 395,688 23,211+ Bonds 139,945 25,136 30,558 14,859 13,572 472,624 105,012 134,370 Treasury notes 99,020 268,822 59,434 1,511,19s 67,934 37,150 57.816 38,775 65,323 Certificates and bills 35,1*1+5 48,096 23,380 21,272 . 523,425 157,749 36,972 90,957 24,317 13,10s 20,691+ 13,881 Total U.S.Govt, securities 420,843 108,200 65,637 91,844 71,475 770,31s 167,120 213,024 103,562 94,27s 2,1+30,311157,679 317.525 3,280 19,172 339,977 — Total bills and securities Due from foreign banks P. R. notes of other "banks Uncollected items Bans premises All other assets TOTAL ASSETS 2,1+61,1+1+3 160,332 803 60 18,529 334 51,221 1+77,71+7 1+9,1+36 1+6,657 3,168 650 778,280 172,101 215,246 107,161 315 6,634 115,572 11,598 33,043 83 526 39,833 4,525 4,643 76 30 6,629 1,520 3.02s 1,3x0 1,210 928 46,316 40,728 95,760 29 1,327 17,000 2,525 1,757 422,963 108,821 67,564 92,702 20 31 51 385 686 23,859 104,918 37,554 166,331 73,060 167,453 6 8 22 21 56 97 2,268 710 276 2,418 1,083 815 60,559 21,746 12,654 30,525 17,097 24,496 l,6s4 3,869 2,62s 1,580 3.447 4,955 94s 227 903 584 734 33s 8,870,736 61+3,815 3,125,601 51+1,71+9 698,336 351.570 21+8,310 1,602,196 337,425 235,201 329,578 218,102 538,853 ASSETS AM) LIABILITIES OF THE FEDERAL RESERVE MHSS OF FEBRUARY 27, 1935 (In thousands of dollars) L I A B I L I T I E S Total Boston Hew York Phila. 658,338 3.138.751 266,235 1.324 1.324 — F.R.notes in actual circulation F.R.bank note circulation - net Deposits: Uember - reserve account 4,587*9^9 290,872 2,051,971 221,443 5,024 44,023 4,593 99,181 U.S.Treasurer - General account 14,355 Foreign bank 967 1,329 5.871 196,746 Other deposits 5,900 3.185 124,239 Total deposits 4,898,231 300,048 2,226,104 233,270 Deferred availability items 120,195 38,601 490,259 51,893 Capital paid in 147,031 10,763 59.724 15,142 Surplus (Section 7) 144,893 13,470 49,964 9,902 Surplus (Section 13 b) 12,830 2,098 1.789 877 Reserve for contingencies 30,824 1,648 7,501 2,996 All other liabilities 2,898 24s 213 6,593 Cleve. Rich. Atlanta 302,120 133,995 81,6U3 6,890 5,656 6,429 483 1+97 1,275 3.537 1.982 4,749 313,922 142,131 93.304 45,035 40,263 16,429 13,113 5,053 ^.389 1^,371 1,007 3,000 397 5,186 1,697 l,4i6 98 75^ 2,599 lb8 Chicago St.Louis B-SOlc Minn. Kans.Cy. Dallas San Fran, 696,627 11+3,688 100,987 167,1^2 133.229 1,711 5.369 3,603 8,856 3,531 349 322 362 1,557 403 6,026 5,023 1^,727 2,073 3,391 712,063 164,187 109,046 173,118 140,572 66,502 23,488 12,778 29,838 20,054 4,050 12,780 4,072 3,128 M17 21,350 1,330 5,325 1,329 4,6^5 ^77 894 284 3,420 1,003 1,211 346 3,613 523 809 is6 3.777 626 1,363 161 264,221 3,^91 940 21,814 290,466 25,183 io,79^ 9,645 649 2r062 265 TOTAL LIABILITIES 8.370,736 643,815 3,125,601 5^1.7^9 698,336 351.570 248,310 1,602,196 337,^25 235,201 329,578 218,102 538,853 Ratio of total reserves to deposit and F.R.note liabilities combined 72.4 66.5 75.5 75.6 68.2 68.8 66.6 59.6 7^.3 66.9 71.2 69.3 69.3 Contingent liability on bills purchased for foreign correspondents 22 357 23 157 31 30 12 11 37 9 8 9 Comraitments to mai:e industrial advances 1,146 13,963 2,282 5,449 298 1,322 627 731 ^53 1,^37 30 iss MATURITY DISTRIBUTION OF BILLS AiTD SECURITIES Total Bills discounted Bills bought in open market Industrial advances U. S. Government securities 6,464 5.505 19,163 2,430,311 Within 15 days 1+ »353 3.388 27^ 44,540 lb to 30 days 880 702 599 128,010 31 to 60 days 332 704 784 170,174 6l to 9° days 671 711 862 93.096 91 days to 6 months ?l6 998 494,2§4 Over 6 months 12 15,646 1,500,197 FEDERAL RESERVE NOTE STATEMENT Oil FEBRUARY 27, 1935 (in thousands of dollars) Total Boston Federal Reserve notes: Issued to F.R.bank by F.R.Agent ^Held by Federal Reserve bank 3,^22,825 287,1+81 281+.07U 21,21+6 Hew York Phila. Cleve. Rich. Atlanta 758,622 251,888 321,908 1 6 M 5 3 1^2,719 100,284 15,96^ ll+,l+23 8,1+27 17.592 Chicago St.Louis B-SOld Minn, Kans.Cy. Dallas San Fran. 818,189 1^5,503 108,618 123,792 53,877 246,075 36,672 6,135 3^9 6,351 6,31+5 1+6,286 In actual circulation 3.138,751 266,235 Collateral held by agent as security for notes issued to bank: Bold certificates on hand and due from U.S.Treasury 3,298,357 301,617 Eligible paper ^,591 133 U. S. Govt, securities 189,000 — 658,338 235,921+ 307,^85 155,726125,127 781,517139.368104,269 1 1 7 , ^ 1 ^7,532 199,789 788,706 222,000 292,215 l ^ ^ O 826,1+20 133,936 109,500 125,000 5l+,675 220,263 3,1+91,9^8 301,750 791,^78 252,617 322,601+ I6U,6I6 11+5,865 Total collateral 2,772 617 30,000 389 30,000 276 21,000 80,685 180 65,000 100 13 13,000 ~ — — 1+5 826,520 11+6,91+9 109,500 125,01+5 29 37 — 30,000 5^,704 250,300 FEDERAL RESERVE B A M NOTE STATEMENT OH FEBRUARY 27, 1935 (In thousands of dollars) Total Federal Reserve bank notes: Issued to F.R.bank(outstanding) Held by Federal Reserve bank In circulation - net* Collateral pledged against outstanding notes: Discounted and purchased bills Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 10,208 10,208 11,719 10,395 1,324 1,5H 187 l,32l+ U. S. Govt, securities 17,000 5,000 12,000 Total collateral 17,000 5,000 12,000 •Does not include $95,01+3,000 of Federal Reserve bank notes for the retirement of which Federal Reserve banks have deposited lawful money with the Treasurer of the United States,
@FedFRASER