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STATEMENT FOR THE PRESS Released for publication Friday morning, Jan. 18; not earlier. B-801 Federal Reserve Board January 17» 1935• CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended January l6, as reported by the Federal Reserve banks, was $2,464,000,000, unchanged from the preceding week and $194,000,000 less than in the corresponding week in 193^* On January l6 total Reserve bank credit amounted to $2,468,000,000, an increase of $1,000,000 for the week. Increases of $105,000,000 in member bank reserve balances and $21,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $4,000,000 in Treasury and national bank currency were practically offset by decreases of $38,000,000 in money in circulation and $75,000,000 in Treasury cash and deposits with Federal Reserve banks and an increase of $15,000,000 in monetary gold stock. Bills discounted increased $9,000,000 at the Federal Reserve bank of Chicago, $2,000,000 at the Federal Reserve Bank of IIew York and $10,000,000 at all Federal Reserve banks. There was practically no change in holdings of bills bought in open market and United States Government securities. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended January l6, 1935* were as follows: Increase or decrease since Jan. l6 Jan. 9 Jan. 17 (In millions of dollars) Bills discounted Bills bought U. S # Government securities Industrial advances (not including 11 million commitments - January l6) Other Reserve bank credit TOTAL RESERVE BANK CREDIT Monetary gold stock Treasury and national bank currency Money in circulation Member bank reserve balances Treasury cash and deposits with F. R. banks Nonmember deposits and other F.R. accounts 17 6 +10 ~s4 -106 - 2 2,430 +15 * 15 -•9 - 1 8,273 2,504 + 1 +15 - 4 -172 +4,238 5,382 4,388 3,019 457 -38 +105 -75 +21 *Less than $500,000. +202 +26 +1,600 +2,612 +26 Released for publication. Friday morning, January IS, 1935? earlier. B-801a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Jan. 16,1935 Jan. 9.1935 Jan. 17,193*4 5,237,503 — 17,398 287,HUH 5,542,345 1,752 5,162,076 — 19,0o0 287,644 5,468,7^0 1,964 91+7,682 2,568,648 43,974 244,870 3.805,174 12,527 13,604 3.617 17,221 5,562 14,826 3.4o6 6,994 5,611 14,744 A S S E T S Gold certificates on hand and due from U. S. Treasury Gold Redemption fund - F. R. notes Other cash Total reserves Redemption fund - F. R. "bank notes Bills discounted: Secured "by U.S.Gov't, obligations, direct and/or fully guaranteed Other bills discounted Total bills discounted Bills bought in open market Industrial advances U, S. Government securities: Bonds Treasury notes Certificates and bills Total U.S. Government securities . Other securities Total bills and securities Gold held abroad Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets . . . . .... TOTAL ASSETS 395,627 3,588 35.553 65.762 101,315 111,939 525,925 2,430,219 — 395,662 1,507,117 527,475 2,430,254 — 935.820 2,431,790 1,413 2,467,828 — 806 24,226 505,729 49,296 45.589 2,457,603 — 8O5 24,489 428,403 49,190 44.850 2,646,457 4,319 3,390 20,512 4l6,635 51,980 116.990 8,637,571 8,476,084 7,077,984 3,099,050 3,136,987 26,185 2,959,556 204,536 4,282,546 80,137 19.H1* 174,725 2,788,073 105,356 3,955 139.506 4,556,522 3,036,890 1,508,667 442,807 1,053,163 L I A B I L I T I E S F. R. notes in actual circulation F. R. bank note circulation - net 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 1 3 b ) Reserve for contingencies All other liabilities TOTAL LIABILITIES 25,869 4,387,560 67,227 18,339 196.677 4,669,803 506,428 146,839 144,893 10,526 30,808 3.355 8,637,571 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 71.3$ . . 419,920 146,844 144,893 10,496 30,816 3.421 8,476,084 71.1$ 567 878 10,846 10,375 420,675 145,078 132,383 22,523 150.343 7,077,984 63.5$ 4,477 ASSETS Aim' LIABILITIES OF THE FEDERAL RESERVE BA17KS Oil JA2TUARY l6, 1935 (In thousands of dollars) A S S E T S Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis B-80Ib Minn. Kans.Cy. Dallas San Fran Gold certificates on hand and due from U. S. Treasury 5.237.503 40^,967 1 , 8 5 1 , 7 0 8 2 6 9 , 6 3 9 37S,935 1 7 5 , 0 1 4 112,775 1 , 0 6 6 , 8 9 1 2 0 7 , 9 7 3 142,876 195,935 1 1 0 , 3 1 0 3 2 0 , 4 8 0 1,782 Redemption fund - P. R. notes 528 254 1,082 1,059 17.39S 577 3,631 2,351 1,737 289 3,537 571 287,444 33.955 68,964 37,204 14,851 13,933 15,462 Other cash 35,761 12,824 12,110 1 1 , 8 6 3 8,787 21,130 Total reserves 5,5^2,3^5 439,499 1,921,731 3 0 9 , 7 9 4 395.523 1 9 0 , 7 2 9 131,S6S 1 , 1 0 3 , 7 3 4 2 2 1 , 3 2 5 1 5 5 , 2 4 0 2 0 8 , 3 6 9 1 1 9 , 3 8 6 3 4 5 , 1 4 7 — — — Redemption fund - F.F..bank notes 1,752 250 — — — — 1,502 Bills discounted: Secured by U.S.Gov't, obligations, —— direct and/or fully guaranteed 13,604 388 186 9,000 28 10 457 3,253 55 15 65 1*7 — Other bills discounted 124 156 108 10 17 ^6 491 3,617 63 2,519 — Total bills discounted 451 17,221 948 310 9,010 28 5,772 32 101 103 303 163 Bills bought in open market 4o4 204 5,562 2,102 258 651 105 143 385 84 l4s 523 555 Industrial advances 904 14,826 850 96s 912 4i6 1,792 1,810 434 1,100 597 1,695 3.3*+Z U. S. Government securities: Bonds 23,206 l4l,01S 2 5 , 1 3 6 30,559 1 4 , 8 5 9 13,539 62,145 18,818 23,857 395.627 13,797 15.359 13,33^ Treasury notes 1,508,667 98,936 475,691 104,925 1 3 4 2 5 6 6 5 , 2 6 7 59r-375 273,356 58,423 37,098 57,767 3 5 , 7 4 4 1 0 4 , 8 2 9 Certificates and bills lb1,109 37,059 48.209 23.436 21.319 92.842 2 0 . q s 0 13.l4l 20.743 35,529 T7.64<S 525,925 Total U.S.Gov't, securities. 2 , 4 3 0 , 2 1 9 1 5 7 , 6 7 1 777,818 103,562 9^,233 428,343 93,200 65,598 91,844 71,475 166,331 Total bills and securities 786,542 171,971 214,825 105,764 95,558 438,916 93,7^9 8 948 67,492 6 771 12,408 1,580 755 92,529 72,750 167,414 Due from foreign banxs F. R. notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 2,467,828 160,318 80 6 60 24,226 390 505,729 51,S31 3,16s 49,296 >+5,589 633 8,637,571 317 6,355 126,961 11,49s 31,849 656,1119 2 , $ 8 6 , 7 5 5 167,120 213,024 S3 .500 40,366 4,485 4,800 77 1,033 49,108 30 3,966 41,135 6,629 3,02s 1,529 l,3S5 29 1,261 15,9^5 2,325 1,811 97 2,912 68,358 ^,955 869 26,963 2,628 246 22 21 56 1,430 26,811 3,447 319 406 4,254 19,721 26,122 3,869 497 l,6s4 896 531,999 668,724 3 ^ 6 , 0 3 7 248,797 l,6i9,s4i 345,867 2 3 2 , 2 5 2 332,927 214,864 5^7,359 ASSETS AED LIABILITIES OF THE FEDERAL RESERVE BAMS Oil JANUARY 16, 1935 (In thousands of dollars) 1 I A B I III T I E S Total Boston Hew York F.R.notes in actual circulation 3.099.050 259.585 647,943 F.R.bank note circulation - net 25,869 905 24,964 Deposits: Member bank - reserve acco-unt 387,560 314,146 1,793,666 33,608 U.S.Treasurer - General acco-unt 67,227 1,763 Foreign bank 5,235 18,339 1,331 Other deposits 13^,921 3,123 196,677 Total deposits 4,669,803 3 2 0 , 3 6 3 1 , 9 6 8 , 4 3 0 Deferred availability items 506,428 51.944 126,077 Capital paid in 59,606 146,839 1 0 , 8 0 7 Surplus (Section 7) 49,964 144,893 9,902 Surplus (Section 13 b) 912 773 10,526 Reserve for contingencies i,64s 30,808 7,501 All other liabilities 83 1,497 3,355 TOTAL LIABILITIES 8 , 6 3 7 , 5 7 1 656,149 2,886,755 Ratio of total reserves to deposit and F. R. note liabilities combined 71«3 75 »8 Contingent liability on bills purchased for foreign correspondents 567 Commitments to make industrial advane e s 10,846 1,668 73.4 Phila. Cleve. Rich. Atlanta 2 3 0 , 1 1 2 297.S3S l6o,6l4 1 2 S , 6 1 0 Chicago St .Louis Minn. Iians.Cy. Dallas San Fran. 7 6 8 , 1 6 7 1 3 S , 3 7 3 1 0 3 , 6 2 8 114,050 726,184 222,-5^7 279,855 128,518 82,166 4,076 723 5,431 5,961 1.^57 2,336 703 1,775 1,926 646 6,812 2,165 3,893 3,936 2,303 2 2 9 , 8 6 6 29i,4s4 1 3 2 , 1 0 9 90,546 739,408 71,382 4o,46o lo,2S2 38,173 ^7,730 1 2,726 4,969 4,369 15,129 13,172 21,350 13,470 1^,371 5,540 5,186 896 2,09s 75^ 1,250 955 2,595 2,996 l,4i6 3,000 5,325 101 5S7 174 .155 33 531,999 6 6 8 , 7 2 4 3 ^ 6 , 0 3 7 248,797 1 , 6 1 9 , 8 4 1 67.3 67.I 65.2 60.2 B-gOlc 73.2 50,242 199,888 152,548 1 0 5 , 5 3 5 177.303 128,373 276,719 6,632 1,845 1,490 1,997 2,254 612 519 425 518 1,313 2,042 20,309 8,987 5,^39 2.7^7 1 6 8 , 7 6 9 113,244 182,565 132,424 300,595 28,541 12,493 27,359 22,309 23,678 3,132 4,084 4,052 4,047 10,746 3,420 3,613 4,655 9,645 3,777 1,003 293 381 585 626 1,211 807 893 1,363 2,053 121 188 171 76 169 3^5,867 2 3 8 , 2 5 2 3 3 2 , 9 2 7 2 l 4 , s 6 4 72.1 71.6 209 56 54 21 20 66 17 4,502 302 1,169 412 719 30 1,210 70.2 13 15 5^7,359 69.0 65.4 40 15 806 28 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted 17,221 Bills bought in open market 5,562 Industrial advances 14,826 U. S. Government securities 2,430,219 Within 15 days 15,588 2,7^3 30,200 l6 to 30 days 223 833 186 44,467 31 to 60 days 677 609 656 15^.252 61 to 90 days 701 31 days to 6 months 31 Over 6 months 1 1,317 878 201,873 1,243 405,891 11,816 1,593.536 FEDERAL EE SERVE NOTE S TATEMSNT OF JANUARY l6, 1935 (in thousands of dollars) Total Federal Reserve notes: Issued to F.R.bank by F.R.agent 3,433,031 Held by Federal Reserve bank 333,981 In actual circulation 3.0S9.050 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and 3,292,700 due from U. S. Treasury 15,77S Eligible paper 193,000 U. S. Govt, securities 3,501,478 Total collateral 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 299,089 39,504 New York Phila. Cleve. Rich. Atlanta Chicago St.Louis B-SOld Minn. Kans.Cy. Dallas San Fran. 766,277 251,86l 311,591 172,624 146,608 118,334 21,749 13,753 12,010 17,998 647,943 2 3 0 , 1 1 2 2 9 7 , 8 3 s l6o,6i4 1 2 8 , 6 1 0 804,358 143,168 108,025 123,59^ 36,191 4,795 4,397 9,544 7 6 8 , 1 6 7 138,373 1 0 3 , 6 2 8 114,050 56,449 249,387 6,207 49,499 50,242 199,888 301,617 451 788,706 222,000 281,215 l40,340 812,513 143,936 109,000 1 2 3 , 5 5 0 57 9,009 27 57,675 32 223,763 101 30,000 302,068 793,179 252,845 316,525 173,617 153.521 821,522 143,963 109,000 123,607 57,707 253,864 259,585 — Boston 4,473 845 30,000 310 35,000 277 33s000 88,385 196 65,000 FEDERAL &ESERVE BAHK NOTE STATEMEFIT ON JANUARY l6, 1935 (in thousands of dollars) New York Phila. Cleve. Rich. Atlanta Chicago St.Louis 37,165 11,296 1,511 606 25,446 482 10,208 10,208 25,869 905 24,964 U. S. Govt, securities 42,874 5,000 2 5 , 8 74 12,000 Total collateral 42,874 5,000 25,374 12,000 — Minn. Kans.Cy. Dallas San Fran. — — — *Does not include $75,843,000 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