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.Form .FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, Jan, l4j not earlier. Board of Governors of the Federal Reserve System January 13, 1938.• CONDITION OF FEDERAL RESERVE BANKS During the week ended January 12>member bank reserve balances increased $122,000,000. Additions to member bank reserves arose from decreases of $115)000,000 in money in circulation, $12,000,000 in Treasury deposits with Federal Reserve banks and $3,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by a decrease of $4,000,000 in Reserve bank credit and an increase of $6,000,000 in Treasury cash other than inactive gold. Excess reserves of member banks on January 12 were estimated to be approximately $1,390,000,000, an increase of $120,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to $1,223,000,000 on January 12, unchanged for the week. The principal changes in holdings of bills and securities were an increase of $4,000,000 in United States Treasury notes and a decrease of $4,000,000 in United States Treasury bonds. Changes in member bank reserve balances and related items during the week and the year ended January 12, 1938, were as follows: Increase or decrease since Jan, 12 1938 Jan. 5 1938 Jan. 13 1937 (in millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 13 million commitments - January 12) Other Reserve bank credit Total Reserve bank credit Gold stock Treasury currency Member bank reserve balances Money in circulation Treasury qash Treasury deposits with -F# R. banks Nonmember deposits and other F. R. accounts 11 1 2,564 — 18 6 — — — +9 -2 +134 -3 -6 -10 2,599 12,755 2,640 +1 +12.3 +1,449 +112 7,193 6,395 3,628 115 663 +122 -115 +6 -12 -3 +453 +24 +1,189 -75 +94 Form FRr-283-a Released for publication Friday morning, Jan. 1-4,1938; not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Jan. 12, 1938 Jan. 5, 1938 Jan. 13, 1937 ASSETS Gold certificates on hand and due from U. S. Treasury . . . . . . . Redemption fund - F. R. notes . . Other cash . . Total reserves 9,532,109 9,119,892 9,436 362,631 9,491,959 8,84-9,882 13,330 304,749 9,167,961 7,420 3,695 11,115 7,096 3,984 11,080 1,487 861 2,348 540 17,883 540 17,894 3,089 24,221 747,039 1,159,497 657,479 751,539 1,154,997 657,479 490,690 1,343,963 595,574 2,564,015 2,564,015 2,430,227 2,593,553 179 30,477 574,127 45,034 38,480 2,593,529 2,459,885 179 27,441 637,442 45,021 37,361 2.20 31,902 671,914 46,146 39,200 12,813,959 12,832,932 12,417,228 4,190,134 4,257,846 4,176,758 7,193,380 7,071,249 115,321 126,896 174,704 226,333 7,709,738 175,313 228,428 7,601,886 568,580 133,071 147,739 27,683 33,052 3,962 628,339 132,927 147,739 27,683 33,052 3,460 6,739,615 190,033 92,638 215.592 7,237,878 656,123 131,792 145,854 27,190 36,268 5,365 12,813,959 12,832,932 12,417,228 9,119,891 8,324 403,894 Bills discountedi 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 .... Bank premises All other assets TOTAL ASSETS L I A B I L I T I E S 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 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 80.1% 80.0% 1,836 1,466 12,895 12,792 80.3% 20,565 Form FH-28<3»-b ASSETS AND LIABILITIES OF HIE FEDERAL RESERVE BANKS ON JANUARY 12, 1938 (In thousands of dollars) ASS E T S Total Boston New York Phila. Gold certificates on hand and due from U. S. Treasury 9,119,891 484,6l4 3,620,195 492,534 Redemption fund - F.R.notes 8,324 704 875 470 Other cash 403,894 40,409 93,891 30,145 Total reserves 9,532,109 525,727 3,714,961 523,149 Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 644,960 283,366 224,044 1,763,039 287,863 181,630 267,046 181,159 689,441 559 620 1,495 570 763 386 523 217 1,142 32,819 27,032 20,528 51,756 17,802 10,629 25,504 15,626 37,75) 678,338 311,018 246,067 1,815,365 306,428 192,645 293,073 197,002 728,33> Bills discounted» direct or fully guaranteed Other bills discounted 7,420 3,695 681 95 3,338 374 1,574 773 Total bills discounted Bills bought in open market Industrial advances U. S. Government securitiesI Bonds Treasury notes Treasury bills 11,115 540 17,883 776 4l 2,719 3,712 212 4,394 2,347 55 3,549 747,039 1,159,497 657,479 54,844 85,126 48,269 215,473 334,440 189,641 61,654 95,694 54,262 576 288 350 117 386 675 150 75 69 864 50 867 467 <3 1,761 1,061 19 126 225 65 696 69 3 235 73,723 114,430 64,885 39,711 61,636 34,950 31,309 48,596 27,556 149 134. 944 17 82 145 123 149 2 617 1,078 16 456 99 16 943 268 38 1,520 82,276 33.354 24,254 127,702 51,769 37,646 72,412 29.355 21,346 38,489 59,739 33,875 29,068 45,116 25,583 62,884 97,603 55,345 Total U.S.Govt, securities 2,564,015 188,239 739,554 211,610 253,038 136,297 107,461 282,390 114,478 83,246 132,103 Total bills and securities 2,593,553 191,775 747,872 217,561 254,819 138,548 108,667 283,376 114,785 84,014 133,653 100,825 217,658 Due from foreign banks F. R„ notes of other banks Uncollected items Bank premises All other assets TOTAL ASS2TS 179 13 30,477 415 574,127 58,565 4-5,034 3,001 38,480 2,367 68 18 6,988 138,409 9,973 11,380 974 41,835 4,826 3,701 12,8135959 781,863 4,629,651 792,064 17 1,920 53,907 6,216 4,250 8 2,163 48,332 2,700 2,411 6 2,656 23,721 2,119 1,496 21 5,231 77,368 4,589 3,531 3 2,528 27,280 2,341 1,458 1,134 15,806 1,489 1,351 5 1,742 30,613 3,153 1,837 99,767 215,832 5 903 24,806 1,281 1,388 13 3,823 33,485 3,346 3,310 999,467 505,180 384,732 2,189,481 454,823 296,441 464,076 326,210 989,971 .Form .FR-283 ASSETS AND.LIABILITIES OF THE FEDERAL RESERVE BANKS ON JANUARY 12, 1938 (in thousands of dollars) L I A B I L I T I E S Total Boston New York Phila. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation Deposits t Member bank - reserve account U.S.Treasurer - General account Foreign bank Other deposits 4-,190,134 278,688 7,193,380 399,571 3,181,445 383,649 115,321 3,665 24,831 2,667 174,704 12,665 63,845 17,002 226,333 4,542 182,147 984 459,432 226,594 178,355 1,029,799 219,872 124,317 243,244 192,181 554,921 7,746 1,116 3,655 38,551 6,328 4,227 8,604 3,923 10,008 15,961 7,460 6,072 20,124 5,205 3,990 5,031 5,031 12,318 3,822 4,236 2,014 I,O49 5,366 3,166 650 3,043 15,314 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 7,709,738 420,443 3,452,268 404,302 568,580 58,742 131,696 40,905 133,071 51,102 12,259 9,392 147,739 51,943 13,466 9,900 27,683 7,744 2,874 4,411 33,052 8,210 2,000 1,448 3,962 783 376 453 486,961 239,406 190,096 1,089,523 236,771 135,700 257,529 204,178 592,561 52,881 47,086 23,551 78,552 28,562 15,527 30,296 27,021 33,761 4,901 13,131 4,099 13,004 3,871 4,416 2,895 3,910 10,091 4,964 14,323 3,613 5,626 22,387 4,667 3,153 3,892 9,805 3,409 1,007 545 1,001 1,142 730 1,429 1,270 2,121 l,4oi 934 3,176 1,215 7,340 1,603 1,949 1,776 2,000 168 162 338 402 139 395 326 130 290 12,813,959 781,863 4,629,651 792,064 999,467 505,180 384,732 2,189,481 454,823 296,441 464,076 326,210 989,971 TOTAL LIABILITIES Contingent liability on bills purchased for foreign correspondents 1,836 Commitments to make industrial advances 12,895 925,905 314,268 Cleve. 427,650 203,851 158,315 96 995 129 121 57 46 1,699 4,6 55 173 896 1,609 332 .976,844 179,053 135,890 166,295 153 - - 84,033 339,342 4o 30 38 38 93 176 52 101 269 2,933 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted Bills bought Industrial advances U.S. Government securities 11,115 540 17,883 2,564,015 Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days 91 days to 6 months 6 months to 1 Year 8,701 430 185 467 30,630 742 215 324 78,087 636 140 803 260,101 586 20 1,156 33,296 - — 1,098 390,961 1 Year to 2 Years Over 5 Years „ - 3,625 193,106 2 Years * to 5 Years — 5,332 285,889 — — — ~ 5,078 595,739 — Ml 696,206 .Form .FR-283 FEDERAL RESERVE NOTE STATEMENT ON JANUARY 12, 1938 (In thousands of dollars) Total Federal Reserve notest Issued to F.R.bank by F.R.agent Held by Federal Reserve bank In actual circulation Boston New York Phila. CIeve. Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. A,587,496 314,074 1,065,4-98 34l,4l2 397,362 35,386 139,593 27,144 457,170 218,587 179,910 1,014,446 195,511 141,757 176,012 95,365 387,754 29,520 14,736 21,595 37,602 16,458 5,867 9,717 11,332 48,412 4,190,134 278,688 -4??-.,650 203,851 158,315 925,905 314,268 976,844 179,053 135,890 166,295 84,033 339,342 4,671,132 341,000 1,080,000 347,000 9,998 710 3,667 1,846 25,000 459,500 219,000 166,000 1,035,000 200,632 140,500 182,000 652 467 832 225 69 104 1,059 20,000 -5,000 96,500 404,000 99 268 4,706,130 341,710 1,083,667 348,846 460,152 219,467 186,832 1,035,225 200,701 145,604 183,059 96,599 4o4,268 Collateral held by agent as security for notes issued to banks Gold certificates on hand and due from U. S. Treasury Eligible paper U.S. Gov't securities Total collateral
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