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Form FRr-283 STATEMENT FOR THE PRESS Released for publication Friday morning, Feb. 10; not earlier. Board of Governors of the Federal Reserve System February 9, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended February member bank reserve balances decreased $29,000,000. Reductions in member bank reserves arose from increases of $10,000,O'O in money in circulation, $44,000,000 in Treasury deposits with Federal Reserve banks, and $18,000,000 in nonmenber deposits and other Federal Reserve accounts, offset in part by increases of $38,000,000 in gold stock and $2,000,000 in Reserve bank credit and a decrease of $2,000,000 in Treasury cash# Excess reserves of member banks on February 8 were estimated to be approximately $3>460,000,000, a decrease of $20,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended February 8, 1939, were as follows» Increase or decrease since Feb. 8, 1939 i^b. 1, 1939 Feb, 9, 1938 (In millions of dollars) Bills discounted 7 Bills bought 1 2,564 U. S. Government securities Industrial advances (not including 13 million commitments ~ February 8) 15 Other Reserve bank credit -3 + 2 — — 2,584 14,732 2,818 + 2 + 38 + 1 Total Reserve bank credit Gold stock Treasury currency Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R, banks Nonmember deposits and other* F.R, accounts 9,018 6,673 2,768 931 743 - w. - 1 + + ■ + 29 10 2 44 • 18 4 —. — " 3 3 10 + 1,976 + 157 + 1,813 + 367 — 882 + 775 + 50 Form FRr283~a Released for publication Friday morning, February 10,1939? not earlier* STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since Feb. 1, Feb. 9, Feb. 8, .. 1939 .1939 .m ASSETS Gold certificates on hand and due +2,863,126 from U. S. Treasury 11,979,223 + 32,005 9,908 - 275 Redemption fund — F. R. notes - 533 + 4,386 +1.794 Other cash 441.93.6 Total reserves +2,867,237 12,431,067 + 33,266 Bills discounted» Secured by U. S. Gov’t obligations, direct or fully guaranteed + 2,4l4 - 2,156 5,294 Other bills discounted 2.100 + 107 - 1*665 Total bills discounted 7,394 - 3,821 + 2,521 + 8 Bills bought in open narket 556 Industrial advances - 2,887 14,738 - 73 U. S. Government securities* Bonds — + 121,320 840,893 Treasury notes + 39,718 1,209,931 Treasury bills 161,038 513.191 — Total U.S. Government securities 2,564,015 Total bills and securities + 2,448 - 6,700 2,586,703 Due from foreign banks 166 5 F. R. notes of other banks + 701 22,337 - 3,987 +143,942 Uncollected items 623,879 +40,005 ■ii»1 Bank premises - 2,109 42,831 Other assets + 521 + 5.587 48,391 15,755,374 TOTAL ASSETS +72,253 +3,008,653 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 capita! 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 make industrial advances 4,344,753 -2,456 +219,649 9,017,844 931,295 208,215 279,377 -28,967 +44,274 +22,449 3.,784 +1,813,136 + 775,023 + 54,835 964 10,436,731 627,021 +33,972 +40,928 +2,642,030 + 147,139 .........2x182 15,411,094 - 542 ___ -1,252 +71,902 +3,007,559 134,899 149,152 27,264 __3J 15,755,374 84.1# — 12,905 + 242 + 1,768 + 1,413 - 419 — 1.668 +72,253 +3,008,653 + 109 — + 13 +3.9# -1,122 — 244 Form FR-283—b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 8, 1939 (in thousands of dollars) ASSET S Total Boston New York Phila, Gold certificates on hand and due from U. S. Treasury 11,979,223 700,099 5,586,331 572,568 Redemption fund - F.R* notes 9,908 159 1,523 999 Other cash 441,936 44,449 134,087 37,442 Total reserves 12,431,067 744,707 5,721,941 611,009 Bills discounted: Secured by U.S.GovH obligations, direct or fully guaranteed 5,294 574 117 3,331 Other bills discounted 2,100 261 30 555 Total bills discounted 7,394 3,572 1,129 147 Bills bought in open market 556 216 56 42 Industrial advances 3,844 2,930 14,738 1,876 U. S. Government securities: Bonds 237,660 67,514 340,893 61,659 Treasury notes 341,961 97,142 1,209,931 88,717 Treasury bills 145,042 37,630 41,203 513,191 Total U.S.GovH securities 2,564,015 188,006 724,663 205,S59 Total bills and securities Due from foreign banks F.R,notes of other banks Uncollected items Bank premises Other assets ÌOTAL ASSETS 2,586,703 190,071 166 12 580 22,337 623,879 51,386 2,940 42,831 48,391 3,117 732,295 209,974 16 62 3,869 935 221,418 41,198 9,021 4,689 13,428 4,269 Cleve, Rich, Atlanta Chicago St,Louis Minn* Kans.Qy, Dallas San Fran, 748,481 325,975 252,594 2,(329,555 315,478 249,316 303,843 187,926 707,057 545 1,037 455 1,256 782 526 426 650 1,550 27,609 23,048 18,473 65,124 17,217 9,202 16,153 14,255 34,877 776,635 350,060 271,522 2,095,935 333,477 259,044 320,422 202,831 743,484 301 69 25 115 150 155 560 10 51 78 30 69 104 557 21 118 50 83 370 52 476 l4o 24 1,253 305 20 825 570 70 453 3.29 2 8 99 2 875 661 139 133 4o 1,323 84,588 43,790 121,713 63,009 51,623 26,725 38,832 55,873 23,699 16 237 16 638 92,091 39,226 26,386 43,323 34,901 70,853 132,506 56,544 37,966 62,334 50,217 101,949 56,203 23,982 16,103 26,440 21,300 43,241 257,924 133,524 118, 4o4 280,800 119,822 80,455 132,097 106,418 258,822 134,941 119,554 281,893 119,961 81,431 133,011 107,211 217,539 21 2 12 5 5 3 2,888 2,549 3,086 652 983 1,382 68,394 23,541 12,055 26,990 22,108 27,583 3,234 3,955 2,288 1,522 3,235 1,255 2,306 1,883 4,762 2,065 1,536 4,192 7 15 1,135 1,917 60,955 47,168 2,6l4 6,005 5,518 3,094 6 2,361 21,083 2,073 2,221 216,043 15,755,374 992,813 6,702,034 872,090 1,109,085 539,801 418,820 2,457,848 483,884 356,573 487,351 335,945 999,130 Form FR~28>-c STATEI.IENT OF CONDITION OF THE FEDERAL RESERVE BARKS ON FEBRUARY 8, 1939 (in thousands of dollars) LIABILITIES Total Boston New York Phila. F.R.notes in actual circulation 4,344,753 379,480 986,397 314,976 Deposits* Member bank — reserve account 9,017,844 434,799 4,906,904 408,876 U.S.Treasurer — General account 931,295 82,909 179,936 44,787 Foreign bank 208,215 14,958 74,629 20,152 Other deposits 279,377 5,436 218,769 6,937 Total deposits 10,436,731 538,102 5,380,238 480,752 Deferred availability items 627,021 51,196 215,435 43,954 Other liabilities including accrued dividends 2,589 238 868 217 Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans. Cy, Dallas San Fran. 419,833 196,808 149,709 985,705 179,226 134,718 168,310 77,634 351,957 465,576 236,548 181,511.1,108,577 223,328 115,993 235,199 179,627 520,906 103,969 35,263 39,383' 218,604 34,386 73,959 39,146 34,306 44,647 19,321 8,934 7,271 25,138 6,025 4,779 6,025 6,025 14,958 6,785 1,366 6,949 3*405 5,616 5,674 985 3,612 13,843 595,651 282,111 235,114 1,355,724 269,355 200,405 281,355 223,570 594,354 60,914 46,074 21,396 71,691 24,786 12,266 27,481 23,757 28,071 199 55 109 74 299 115 267 64 84 TOTAL LIABILITIES 15,411,094 969,016 6,582,938 839,899 1,076,597 525,048 4o6,328 2,413,419 473,441 347,504 477,413 325,025 974,466 CAP IT A L A C CO U H I S Capital paid in 134,899 9,417 13,589 3,967 2,913 4,227 3,961 10,528 50,997 12,051 13,679 5,055 4,515 Surplus (Section 7) 22,666 4,685 3,153 3,613 3,892 9,965 149,152 10,083 14,323 4,983 5,630 52,463 13,696 Surplus (Section 13b) 27,264 2,874 545 1,001 1,142 1,266 2,121 7,457 4,4l6 1,429 1,007 3,293 713 Other capital accounts 956 1,801 6,745 1,246 2,002 32,965 1,423 2,050 8,179 2,028 3,479 1,422 1,634 TOTAL LIABILITIES AND 15,755,374 992,813 6 ,702,034 872,090 1 ,109,085 539,801 418,820 2,457,848 483,884 356,573 437,351 335,945 999,130 CAPITAL ACCOUNTS Commitments to make industrial advances 58 418 44 3,402 12,905 1,277 2,565 1,508 195 639 1,433 1,213 153 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted Bills' bought Industrial advances U. S. Government securities 7,394 556 14,738 2,564,015 Within 15 days 16 to 30 days 172 271 2,036 331 95,805 103,333 6,267 23 31 to 60 days 301 — 501 152,720 -91 days to 6 months 90 days 6 months to 1 Year 61 to 313 262 326 114,343 314 -— 1,977 132,052 1 Year to 2 Years Over 5 Years 1 — 27 — 3,357 173,142 2 Years to 5 Years ,013 390,,654 2,192 641,633 760,148 Form FR—283~d- FEDERAL RESERVE NOTE STATEMENT OH FEBRUARY 8, 1939 (in thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St»Louis Minn, Kans.Cy. Dallas Sail Fran. Federal Reserve notes* Issued to F.R. bank by F.R.agent 4,670',3^6 4)1,361 1,091,227 333,981 44o,548 211,844 162,934 1,021,061 195,796 139,531 176,943 Held by Federal Reserve bank 325,633 21,881 104,830 19,005 20,715 15,036 13,225 35,356 16,570 4,813 8,633 85,408 409,752 7,774 57,795 985,705 179,226 134,718 168,310 77,634 351,957 Gold certificates on hand and due from U. S. Treasury 4,778,000 420,000 1,105,000 345,000 443,000 215,000 169,000 1,035,000 199,000 143,500 180,000 Eligible paper 6,678 117 3,554 644 357 l4o 269 570 76 59 645 89,500 434,000 136 111 IR actual circulation 4,344,753 379,480 986,397 314,976 419,833 196,808 149,709 Collateral held by agent as se curity for notes issued to bank* Total collateral •• 4,784,678 420,117 1,108,554 345,644 443,357 215,l4o 169,269 1,035,570 199,076 143,559 180,645 89,636 434,111
@FedFRASER