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Form FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, Jan. 21; not earlier* Board of Governors of the Federal Reserve System January 20, 1938 CONDITION OF FEDERAL RESERVE BANKS During the week ended January 19 member bank reserve balances increased 126,000,000. Additions to member bank reserves arose from decreases of #49,000,000 in money in circulation and $7,000,000 in Treasury cash other than inactive gold, and an increase of $11,000,000 in Reserve bank credit, offset in part by increases of #20,000,000 in Treasury deposits with Federal Reserve banks and $19,000,000 in nonmember deposits and other Federal Reserve accounts* Excess reserves of member banks on January 19 were estimated to be approximately $1,370,000,000 , a decrease of $20,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to $1,223,000,000 on January 19, unchanged for the week. The principal changes in holdings of bills and securities were a decrease of $19,000,000 in United States Treasury bonds and increases of $12,000,000 in United States Treasury notes and $7,000,000 in Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended January 19, 1938, were as followst Increase or decrease since Jan. 19 1938 Jon. 12 1938 Jan. 20 1937 (in millions of dollars) Bills discounted Bills bought U. S, Government securities Industrial advances (not including 13 million commitments - January 19) Other Reserve bank credit Total Reserve bank credit Gold stock Treasury currency Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F.R. banks Nonmember deposits and other F. R. accounts 11 1 2,564 18 17 2,610 12,755 2,639 +9 -2 +134 — — — — <-6 +11 +9 +11 — +142. +1,438 -1 +106 7,219 +26 3,621 135 682 -49 -7 +20 +19 +464 +7 +1,158 -53 +109 6,346 Form F R - 2 8 > a Released for publication Friday morning, Jan. 21, 1938; not earlier* ASSETS AMD LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Jan, 19, 1938 Jan. 12, 1938 Jan. 20,1937 9,119,891 8,324 403,894 9,532,109 8,849,893 12,729 314,574 9,177,196 7,420 3,695 11,115 1,506 875 2,381 548 17,829 540 17,883 3,084 24,131 728,073 1,171,713 664,229 747,039 1,159,497 657,479 492,045 1,345,963 592,219 Total U.S. Government securities . 2,564,015 2,564,015 2,430,227 Total bills and securities . . . . 2,593,182 2,593,553 2,459,823 171 27,260 614,313 45,033 39,625 179 30,477 574,127 45,034 38,480 223 29,821 665,840 46,146 4o,l44 12,874,036 12,813,959 12,419,193 A S S E T S Gold certificates on hand and due from U. S. Treasury 9,118,394 Redemption fund - F. R. notes . . . . 9,393 Other cash 4-26,66$ Total reserves 9,554,452 Bills discountedt Secured by U.S.Gov't obligations, direct or fully guaranteed 6,979 Other bills discounted 3,813. Total bills discounted 10,790 Bills bought in open market Industrial advances U. S. Government securities; Bonds Treasury notes Treasury bills 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 4,155,272. 4,190,134 4,159,036 7,218,937 135,018 167,934 250,047 7,771,936 597,884 133,04l 147,739 27,683 33,019 7,462 7,193,380 115,321 174,704 226,333 7,709,738 568,580 133,071 147,739 27,683 33,052 3,962 6,754,890 188,259 94,900 217,540 7,255,589 658,189 131,972 145,854 27,190 36,232 5,131 TOTAL LIABILITIES 12,874,036 12,813,959 12,419,193 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% 80.1% 1,784 1,836 12,723 12,895 80.4% 20,332 Form FR-283-b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JANUARY 19, 1938 (in thousands of dollars) A S S E T S Total Boston New York Phila, Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 9,118,394 487,155 3,676,775 457,430 Redemption fund - F. R. notes 9,393 669 1,710 4o6 Other cash 426,665 43,385 94,180 32,380 639,127 276,197 219,862 1,756,308 280,182 177,201 264,349 176,889 676,919 507 1,119 1,493 505 751 380 512 216 1,125 36,601 28,426 20,585 58,980 17,258 10,890 26,653 15,463 4l,S64 9,554,452 531,209 3,772,665 520,216 676,235 305,742 24l,94o 1,815,793 298,191 188,471 291,514 192,568 719,908 Total reserves Bills discounted: direct 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 6,979 3,811 442 90 3,282 385 1,427 853 491 317 328 185 386 642 150 73 54 3 104 163 138 854 17 117 160 129 10,790 532 3,667 2,280 808 513 1,028 223 57 267 992 134 289 548 17,829 41 2,724 215 4,381 56 3,561 51 856 23 1,745 19 125 68 695 2 235 2 590 16 461 16 937 39 1,519 728,073 1,171,713 664,229 53,452 86,023 48,764 210,002 337,964 191,588 60,088 96,703 54,819 71,852 115,635 65,551 38,703 62,285 35,309 30,514 49,108 27,839 80,187 129,047 73,156 32,507 52,315 29,656 23,639 38,041 37,512 60,369 34,222 28,330 45,591 25,846 61,287 98,632 55,913 . a , 566 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 2,593,182 191,536 747,817 2.17,507 254,753 138,578 :108,633 6 16 7 2,266 1,473 2,311 59,222 51,346 28,127 2,700 2,119 6,215 2,451 1,581 4,421 283,376 :114,772 84,105 133,572 100,854 217,679 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 171 27,260 614,313 45,033 39,625 13 317 59,838 3,001 2,458 64 6,768 152,552 9,973 11,531 17 885 44,710 4,826 3,816 21 3,724 81,154 4,589 3,713 2 3 2,136 1,559 29,678 14,766 2,341 1,489 1,410 1,517 5 1,553 31,460 3,153 1,856 99,767 215,832 12 5 767 3,501 29,728 31',732 1,281 3,346 1,450 3,421 12,874,036 788,372 4,701,370 791,977 1,002,335 503,090 384,717 2,192,370 443,638 291,802 463,113 326,653 979,599 Form FR-283-b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JANUARY 19, 1938 (In thousands of dollars) L I A B I L I T I E S Total Boston New York 4,155,272 275,082 Phila. 920,159 311,179 Cleve. Rich. Atlanta 420,778 202,181 157,914 Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 970,462 178,351 135,036 165,308 83,003 335,819 F.R.notes in actual circulation Deposits: Member bank — reserve account U. S.Treasurer - General account Foreign bank Other deposits 7,218,937 4)7,427 3,228,324 377,679 135,018 6,356 37,454 6,806 167,934 12,103 59,605 16,474 250,047 4,705 196,555 1,764 457,414 222,868 175,439 1,034,644 210,065 122,603 242,978 188,458 551,038 11,791 2,626 1,724 37,826 6,477 2,836 5,770 5,284 10,068 15,465 7,460 6,072 20,004 5,043 3,866 4,875 5,031 11,936 5,415 3,700 4,387 3,276 7,082 3,338 1,331 3,059 15,435 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 7,771,936 430,591 3,521,938 402,723 597,884 58,591 138,759 43,045 133,041 51,003 12,276 9,394 147,739 51,943 13,466 9,900 27,683 4,4ll 7,744 2,874 33,019 8,210 2,000 1,448 7,462 2,877 1,614 492 490,085 236,654 187,622 1,095,750 228,667 132,643 254,954 201,832 588,477 59,476 49,411 26,408 81,575 31,185 14,829 32,850 30,745 31,010 13,010 13,132 4,911 4,425 3,877 2,895 4,110 3,915 10,093 4,964 22,387 5,626 4,667 3,153 3,613 3,892 9,805 14,32.3 3,409 1,429 730 545 1,001 1,142 1,270 2,121 1,007 7,312 1,401 1,603 1,215 1,943 934 1,776 2,000 3,177 445 159 389 131 302 202 220 274 357 TOTAL LIABILITIES 12,874,036 788,372 4,701,370 791,977 1,002,335 503,090 384,717 2,192,370 448,638 291,802 463,113 326,653 979,599 Contingent liability on bills purchased for foreign correspondents 1,784 Commitments to make industrial advances 12,723 128 1,534 691 4,620 175 164 57 46 143 833 1,603 332 212 - - 53 4l 52 38 127 326 43 101 269 2,919 MATURITY DISTRIBUTION OF BILLS AMD SECURITIES Bills discounted Bills bought Industrial advances U. S.Government securities Total mthin 15 days 16 to 30 days 31 to 60 days 61 to 90 days 91 days to 6 months 6 months to 1 Year 10,790 548 17,829 2,564,015 8,215 91 1,415 32,746 714 259 87 33,725 578 198 415 217,424 774 492 17 742 121,791 1,175 413,111 3,762 164,134 1 Year to 2 Years 2 Years to 5 Years Over 5 Years 5,315 303,105 4,918 603,239 674,740 Form FR-283-b FEDERAL RESERVE NOTE STATEMENT ON JANUARY 19, 1938 (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. Eans.Cy. Dallas San Fran. 4,516,887 312,438 1,027,614 338,727 361,615 37,356 107,4-55 27,548 452,096 214,550 178,306 1,003,886 194,395 139,251 174,832 31,318 12,369 20,392 33,424 16,044 4,215 9,524 94,515 386,277 11,512 50,458 4,155,272 275,082 420,778 202,181 157,9l4 970,462 178,351 135,036 165,308 83,003 335,819 4,606,632 341,000 1,050,000 347,000 9,472 470 3,598 1,710 33,000 - - 455,000 208,000 166,000 1,020,000 200,632 136,500 182,000 5l4 510 801 214 55 221 964 8,000 20,000 --5,000 - - 96,500 404,000 132 283 4,649,104 341,470 1,053,598 348,710 455,514 216,510 186,801 1,020,214 200,687 l4l,721 182,964 96,632 404,283 920,159 311,179 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury Eligible paper U. S. Gov't securities Total collateral
@FedFRASER