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Form FR-2S3 STATEMENT FOR THE PRESS Released for publication Friday morning, Jan, 19; not earlier. Board of Governors of the Federal Reserve System January 18, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended January 17 member bank reserve balances increased $190,000,000. Additions to member bank reserves arose from decreases of ,000,000 in money in circulation and $80,000,000 in Treasury deposits with Federal Reserve banks, and increases of $58,000,000 in gold stock, $11,000,000 in Reserve bank credit, and'$3,000,000 in Treasury currency, offset in part by an increase of $20,000,000 in Treasury cash. Excess reserves of member banks on January 17 were estimated to be approximately $5,500,000,000, an increase of $120,000,000 for the week. Changes in member bank reserve balances and related items during the "week and the year ended January 17, 1940, were as followst Increase or decrease, since Jan. 17, 1940 Jan. 10, 1940 Jan. 18, 1939 (In millions of dollars) Bills discounted Bills bought U. S. Gov't securities,direct and guaranteed Industrial advances (not including 8 million comnitments - January 17) Other Reserve bank credit — — + 3 1 - 8 7 11 20 — +11 < ^ 4 + 17 Total Reserve bank credit Gold stock Treasury currency 2,515 17,805 2,968 +11 + 58 + 3 - 73 +3,190 +158 Member bank reserve balances Honey in circulation Treasury cash Treasury deposits with F. E. banks Nonmember deposits and other F. R, accounts 12,020 7,405 2,361 575 928 +190 - 58 + 20 - 80 + 1 +2,890 + 739 ^ 365 - 225 + 237 7 — 2,477 Form FR~283~a Released for publication Friday morning, Jan. 19,1940; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Jan. 18, Jail. 10, Jan. 17, 1939 1940 1940 ASSETS Gold certificates on hand and due from U. S. Treasury +3,536,847 + 49,096 15,433,121 Redemption fund - F. R. notes + 192 518 9,385 Other cash 48,779 16*022 + 386,451 Total reserves + 64,610 +3,488,260 15,828,957 Bills discounted! Secured by U. S. Gov't obligations, 1,662. direct and guaranteed 13 593 + 67 + Other bills discounted 4,197 6,303. Total bills discounted + 6,896 54 + 2,535 Bills bought in open market 556 Industrial advances 4,497 + 50 10,893 U. S. Government securities, direct and guaranteed: Bonds + 503,152 1,344,045 Hotes 76,706 1,133,225 Bills 513,191 Total U. S. Government securities, — direct and guaranteed 2,477,270 86,745 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS LIABILITIES F, R. notes in actual circulation Deposits: Llenber bank - reserve account U.S. Treasurer - General account Foreign bank Other deposits Total deposits Deferred availability items Other liabilities including accrued dividends TOTAL LIABILITIES OAPlfAL AQCOyNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of total reserves to deposit and F. R. note liabilities combined Commitments to make industrial advances + 104 89,263 119 3,194 70,492 1,189 12,528 2,495,059 47 27,895 731,253 41,736 59,877 - 2,728 +112,457 + 1 + 773 + + 19,184,824 +175,217 +3,477,515 4,849,757 - 36,472 + 511,340 12,019,594 574,794 395,767 282,519 13,272,674 711,207 +189,664 - 80,640 - 13,60o + 15,143 +110,559 +101,408 +2,889,185 - 225,156 + 237,054 + 6,583 +2,907,666 + 53,531 1,498 20 18,835,136 +175,475 710 +3,471,827 135,936 151,720 26,839 35,193 19,184,824 105 87.3% 8,294 153 +175,217 - + + + 1,118 2,568 425 JJ&L +3,477,515 + 109 - 3.4% 4,837 Form FP-283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 17, 1940 (in thousands of dollars) ASSETS Total Gold certificates on hand and due from U. S. Treasury 15,433,121 Redemption fund - F.R.notes 9,385 Other cash 386,451 Total reserves 15,828,957 Bills discountedi Secured by U. S.Gov't obligations, direct and guaranteed 593 Other bills discounted 6,303 Boston New York Phila. 866,224 7,543,917 857 1,327 36,418 89,040 843,954 949 31,531 984,788 403,153 296,545 2,443,475 402,605 244,866 344,000 230,658 740 1,209 519 703 753 209 460 353 26,181 25,001 21,506 51,960 18,712 9,788 19,652 16,435 828,936 1,306 40,227 903,499 7,634,284 876,434 1,011,709 429,363 318,754 2,495,954 422,070 254,863 364,112 247,446 870,469 Cleve. Rich. Atlanta Chicago St.Louis Mirm. Kans.Cy. Dallas San Fran. 25 200 2,224 105 550 113 542 31 296 10 230 25 1,342 2,424 2,04l 655 3,123 655 303 327 942 240 693 — — 638 236 638 236 331 11 40 199 45 872 4 150 366 239 732 917 168 154 487 386 720 20 Total bills discounted 6,896 Industrial advances 10,893 U. S.Government securities, direct and guaranteed: Bonds 1,344,045 Notes 1,133,225 Total U. S. Gov't securities, direct and guaranteed 2,477,270 96,123 81,047 408,181 344,156 110,221 92,934 137,084 68,135 54,495 115,581 57,447 45,945 144,872 60,273 39,771 62,897 51,196 122,148 50,818 33,533 53,031 43,167 110,797 93,418 177,170 752,337 2039155 252,665 125,582 100,440 267,020 111,091 73,304 115,928 94,363 204,215 Total bills and securities 2.495,059 178,537 Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets jrj 27 895 731*253 ^ ? 6 59 877 ^ 894 74,935 756,802 18 4,266 185,131 9,895 17,519 206,933 5 1,128 53,052 4,573 4,961 253,623 126,851 101,373 2 2 4 1,982 3,889 2,646 87,664 57,735 28,940 5,547 2,545 2,034 6,638 3,569 2,429 267,989 111,338 74,275 117,013 95,004 6 1 1 1 3,446 1,669 1,940 1,699 649 99,763 30,972 17,328 30,750 28,666 3,390 2,243 1,396 3,093 1,175 2,700 2,343 6,113 2,537 1,820 205,321 4 3,687 36,317 2,956 5,287 TOTAL ASSETS 2 gg9 3.961 19,184,824 1,164,718 8,607,915 1,147,086 1,367,167 623,954 456,178 2,876,661 570,830 351,622 519,368 375,284 1,124,041 *Less than $500. Form FE-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 17, 1940 (In thousands of dollars) LIABILITIES Total F.R. notes in actual circulation 4,849,757 Deposits * Member bank-reserve account ]2pi9,594 U.S.Treasurer-General account574,794 Foreign bank 395,767 Other deposits 282,519 Total deposits 13,272,674 Deferred availability items 711,207 Other liabilities including accrued dividends 1,498 Boston New York Phila. 399,870 1,237,186 343,433 453,124 220,082 159,226 1,066,741 190,731 139,245 130,675 81,078 378,366 600,701 6,571,632 31,056 180,325 29,477 136,530 7,340 197,549 634,498 27,909 39,283 17,247 692,170 293,857 213,022 1,461,293 295,298 152,630 268,693 219,604 58,465 19,556 22,474 132,802 22,148 20,174 17,350 20,221 37,278 17,236 14,029 48,101 12,025 8,819 11,624 12,025 8,398 2,234 6,429 4,085 7,617 6,429 1,068 3,557 616,196 22,314 29,340 20,566 668,574 7,086,036 71,779 163,171 ,718,937 51,938 796,311 332,883 255,954 1,646,2G1 337,088 188,052 298,735 255,407 84,666 55,846 28,248 118,872 32,224 15,133 29,567 27,597 688,416 200 255 226 Cleve. 2.23 Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 21 29 233 26 98 95 59 32,166 33 TOTAL LIABILITIES 18,835,136 1,140,423 8,486,643 1,114,534 1,334,324 608,832 443,457 2,832,127 560,069 342,528 509,072 364,141 1,098,981 CAPITAL' ACCOUNTS Capital paid in 4,081 10,658 135,936 9,406 51,147 11,911 13,964 5,191 4,651 13,540 4,087 2,948 4,352 Surplus (Section 7) 22,824 4,709 3,152 3,613 3,974 10,224 151,720 10,405 53,326 14,198 14,323 5,247 5,725 Surplus (Section 13b) 1,429 1,266 2,121 2,874 538 1,001 1,142 7,109 26,839 713 1,007 3,246 4,393 Other capital accounts 6,741 1,427 1,993 1,189 1,822 2,057 1,610 9,685 2,050 35,193 3,549 1,438 1,632 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 19,184,824 1,164,718 8,607,915 1,147,086 1,367,167 623,954 456,178 2,876,661 570,830 351,622 519,368 375,284 1,124,041 Commitments to make industrial advances 8,294 405 1,789 343 1,067 742 77 20 152 63 525 — 3,111 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Over 2 Years to 16 to 31 to 61 to 91 days to 6 months 1 Year Within 5 Years 5 Years 60 days 90 days 6 months to 1 Year to 2 Years Total 15 days 30 days Bills discounted 18 6,896 376 821 347 5,199 135 Industrial advances 2,364 2,129 1 , 1 1 0 2,932 500 105 10,893 1,470 283 U. S. Government securities, direct and guaranteed 281,368 695,471 1,257,674 105,974 2,477,270 136,783 Form FE-283-d FEDERAL RESERVE HOTE STATEMENT OH JANUARY 17, 1940 (in thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes» Issued to F.R. bank by F.R.agent 5,204,261 426,785 1,335,510 365,156 483,750 236,976 174,046 1,114,474 203,116 145,726 190,°59 89,946 438,517 Held by Federal Reserve bank 354,504 26,915 98,.324 21,723 30,626 16,894 14,830 47,733 12,385 6,4C1 9,584 8,868 60,151 In actual circulation 4,849,757 399,870 1,237,186 343,433 453,124 220,082 159,226 1,066,741 190,731 139,245 180,675 81,078 378,366 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury Eligible paper Total collateral 5,329,000 440,000 1,355,000 375,000 491,000 250,000 180,000 1,130,000 209,000 147,500 195,000 92,500 464,000 1,423 25 280 113 — 112 — — 35 94 764 — — 5,330,423 440,025 1,355,280 375,113 491,000 250,112 180,000 1,130,000 209,035 147,594 195,764 92,500 464,000
@FedFRASER