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Form Fit-283 STATEMENT FOR THE PRESS Released for publication Friday morning, Jan. 13? not earlier, Board of Governors of the Federal Reserve System January 12, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended January 11 member bank reserve balances increased $137,000,000. Additions to member bank reserves arose from decreases of $123,000,000 in money in circulation, $13 ,000,000 in Treasury cash and $18,000,000 in Treasury deposits with Federal Reserve banks and increases of $12,000,000 in gold stock and $5,000,000 in Treasury currency, offset in part by an increase of 123,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $12,000,000 in Reserve bank credit. Excess reserves of member banks on January 11 v/ere estimated to be approximately $3,440,000,000, an increase of $140,000,000 for the week. Principal changes in holdings of bills and securities were an increase of $23,000,000 in United States Treasury notes and a decrease of $23,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended January 11, 1939, were as follows» Increase or decrease since Jan, 11,r ... 1939 Jan. 4, 1939 Jan, 121 1938 (in millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 13 million commitments — January 11 ) Other Reserve bank credit Total Reserve bank credit Gold stock Treasury currency Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R. banks Nonnember deposits and other F. R. accounts 5 1 2,564 16 6 + 1 — — __ —- 2 1 7 - 12 + 2,592 14,577 2,805 - 12 + 12 + 5 7 +1,822 + 165 8,956 +137 -123 - 13 - 18 + 23 +1,763 + 321 - 916 + 758 + 54 6,716 2,712 873 7ÏÏ Form FR-283-a Released for publication Friday morning, January 13,1939; not earlier, STATEMENT OF CONDITION OF THE TTCLVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Jan, 12 , Jan. 4, Jan* 11, 1938 _ 1939 . 1939 ASSETS Gold certificates on hand and due +2,747,829 11,867,720 +30,001 from U. S. Treasury + . 109 8,433 -l,44l Redemption fund - F. R. notes +14,131 +53*262 Other cash 418,025 Total reserves 12,294,178 +81,822 +2,762,069 Bills discounted» Secured by U, S. Gov't obligations, - 4,785 + 301 direct or fully guaranteed 2,635 + 146 ..„.,“ .li576 Other bills discounted .. - 6,361 4,154 + 447 Total bills discounted + 9 549 Bills bought in open market + 45 15,550 - 2,333 Industrial advances U.S,Government securities» +93,854 Bonds 840,893 +22,630 +20,080 1,179,577 Treasury notes -22,6J0 .-.112*924 Treasury bills Total U.S. Government securities 2,564,015 Total bills and securities Due from foreign banks F. R, notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS L IABILITIES F, R, notes in actual circulation Deposits t 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 AUD 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 2,584,868 + 492 172 35,537 +6,111 597,740 -142,002 42,928 .±1*222 ........45_3m 15,601,396 -52,245 - 8,685 - 7 +• 5,060 +23,613 - 2,106 ,...,..+ 7,492 +2,787,437 4,374,962 “66,088 +184,828 +136,896 -18,176 -13,149 +37,028 +1,762,759 +757,622 + 2,063 ,.+56,279 10 ,288,561 +142,599 591,268 -129,521 +2,578,823 +22,688 2,298 .. .±232 -1.090 15,257,089 -52,693 +2,785,249 +188 +260 +1,840 +1,413 - 4l9 — 646 15,601,396 -52,245 +2,787,437 8,956,139 872,943 176,767 282,712 134,911 149,152 27,264 .. .22,580 83.8$ 13,339 +•1% +3.1% -29 -1,836 +444 -219 Form FR—28>-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 11, 1939 (In thousands of dollars) ASSETS Total Gold certificates on hand and 11,867,720 due from U, S. Treasury Redemption fund - F.R. notes 8,433 Other cash 418,025 Total reserves 12,294,178 Bills discountedt Secured by U.S.Gov't obligations, direct or fully guaranteed 2 ¿635 Other bills discounted 2,119 Boston New York Phila. Cleve. Rich. Atlanta Chicago i St.Louis Minn. ; Kans.Cy.Dallas i3an Fran. 702,073 5,340,630 572,551 1,116 257 927 40,734 122,135 32,933 761,314 342,893 254,271 2,101,320 310,718 229,928 298,287 195,045 701 592 176 685 539 Ö17 472 513 24,674 23,659 18,509 60,800 21,476 8,546 16,044 15,744 750,690 1,638 32,771 743,064 5,471,692 606,600 786,689 367,237 273,319 2,162,633 333,011 239,066 314,803 210,965 785,099 30 5 856 360 768 540 456 54 174 162 75 65 50 49 — • 100 65 84 84 644 4 23 73 33 35 4i 1,948 1,216 1,308 56 3,033 510 336 24 1,466 l4o 19 824 99 69 455 100 2 8 149 2 984 728 16 247 27 106 16 771 - 4o 1,339 Total bills discounted 4,754 Eills bought in open market 549 Industrial advances 15,550 U.S. Government securities: Bonds 840,893 Treasury notes 1,179,577 Treasury bills 543,545 61,659 86,492 39,855 237,660 67,514 333,382 94,705 153,621 43,640 84,588 43,790 38,832 118,659 61,428 54,472 54,677 28,306 25,100 92,091 39,296 26,386 43,323 34,901 129,182 55,125 37,014 60,770 48,957 59,527 25,401 17,055 28,004 22,560 70,853 99,391 45,799 Total U.S.Gov't securities .2,564,015 188,006 724,663 205,859 257,924 133,524 118,4o4 280,800 119,822 80,455 132,097 106,418 216,043 Total bills and securities 2,584,860 Du.e from foreign banks 172 F..R.notes of other banks 35,537 Uncollected items .597,740 B-'.nk premises 42,928 Gther assets ' 45,973 190,030 729,969 210,256 17 65 1,541 9,493 151,742 41,892 9,038 4,699 4,111 12,820 259,083 135,350 119,387 6 16 7 1,563 2,637 3,383 65,095 50,625 24,331 6,017 2,621 2,076 2,092 5,239 2,865 281,423 119,932 81,590 133,088 107,232 2 21 5 5 3 2,978 1,702 4,887 1,733 1,045 79,792 28,186 15,638 29,503 21,159 1,261 3,964 2,291 1,52.5 3,348 1,460 1,817 4,546 1,950 2,153 217,528 TOTAL ASSETS 15,601,396 13 1,331 60,356 2,945 2,947 213 3,877 51 598 12 3,244 29,421 3,243 3,973 1,000,686 6,384,819 869,116 1,123,702 562,088 423,848 2,537,266 488,351 340,983 484,533 343,484 1,042,520 Forra FR-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 11, 1939 (In thousands of dollars) L IA B I LI T I ES Total F.R.notes in actual circulation 4,374,962 Deposits* Menber bank - reserve account 8,956,139 U.S.Treasurer — General account 872,943 Foreign bank 176,767 Other deposits 282,712 Total deposits 10,288,561 Deferred availability iteias 591,268 Other liabilities including accrued 2,298 dividends TOTAL LIABILITIES 15,257,089 CAPITAL ACCOUNT 3 Capital paid in 134,911 Surplus (Section 7) 149,152 27,264 Surplus (Section 13b) 32,980 Other capital accounts TOTAL LIABILITIES AITO CAPITAL ACCOUNTS Conr.dtr:onts to nake industrial advances Bills discounted Bills bought Industrial advances U, S. Government securities Boston New York 379,599 Phila, 996,446 315,693 448,128 4,670,895 72,749 164,751 62,454 12,800 3,628 227,651 537,305 5,125,751 59,791 142,705 400,810 54,295 17,245 7,168 728 251 189 479,518 41,303 Cleve. Rich, Atlanta Chicago St.Louis Minn# Kans#Cy. Dallas San Fran. 423,045 202,742 149,402 986,494 180,640 135,249 169,251 79,461 482,934 251,393 185,748 1,196,866 219,610 97,561 34,789 43,022 204,442 38,029 16,534 7,644 6,222 21,511 5,156 6,244 1,205 4,823 2,033 3,889 603,273 295,859 238,881 1,424,024 267,618 64,748 48,656 22,933 82,128 29,612 170 111 160 218 356,940 123,268 233,053 183,125 560,309 35,869 37,903 40,925 5,156 5,156 12,800 1,265 .3,621 . 17,010 180,l4o 275,343 229,805 63l,o44 29,926 16,443 29,768 23,255 48,608 4,089 105 53 244 42 27 976,884 6,265,630 836,765 1,091,236 547,368 411,376 2,492,864 477,923 331,937 474,606 332,563 1,017,937 9,421 10,083 2,874 1,424 51,074 12,211 52,463 13,696 4,4l6 7,457 2,028 8,195 13,653 14,323 1,007 3,483 5,015 4,983 3,293 1,429 4,505 5,630 713 1,624 13,546 22,666 1,429 6,761 3,953 4,685 545 1,245 2,904 3,153 1,001 1,988 4,220 3,613 1,142 952 3,965 3,892 1,266 1,798 10,444 9,965 2,121 2,053 15,601,396 1 ,000,686 6,384,819 869,116 1,123,702 562,088 423,848 2,537,266 488,351 3^0,983 484,533 343,484 1,042,52.0 13,339 1,291 2,6l4 Total Within 15 days 16 to 30 days 4,754 549 15,550 2,564,015 3,715 179 1,908 88,872 82 106 525 102,685 58 1,518 462 198 658 1,554 1,225 156 MATURITY DISTRIBUTION OF BILIS AND SECURITIES 2 Years to 6 nonths 1 Year 61 to 91 days 31 to to 2 Years 5 Years to 1 Year 60 days 90 days 6 nonths 274 — 403 199,268 261 264 542 152,720 401 — 1,421 85,197 21 — 4,015 173,142 46 3,559 Over 5 Years — « ------- 4,070 390,654 — 2,666 611,329 — — 760,148 Form FR-283—d FEDERAL RESERVE NOTE STATEMENT ON JANUARY 11, 1939 (in thousands of dollars) Total Federal Reserve notesl Issued to F.R. bank by F.R.agent Held by Federal Reserve bank In actual circulation Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran. 4,741,206 405,300 1,112,038 337,078 448,154 219,901 164,123 1,026,525 199,258 l4l,3l4 179,370 366,244 25,701 115,592 21,385 25,109 17,159 14,721 40,031 18,618 6,065 10,119 4,374,962 379,599 996,446 315,693 423,045 202,742 149,402 88,667 4l9,47S 9,206 62,538 986,494 180,640 135,249 169,251 79,461 356,940 Collateral held by agent as se curity for notes issued to bank* Gold certificates on hand and due from U. S. Treasury Eligible paper 4,855,000 420,000 1,130,000 345,000 453,000 230,000 169,000 1,050,000 203,000 143,500 185,000 92,500 434,000 4,011 30 1,120 889 497 337 81 99 25 98 7l4 28 93 ‘ 4,859,011 420,030 1,131,120 345,889 453,497 230,337 169,081 1,050,099 203,025 143,598 185,714 92,528 434,093 Total collateral
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