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Form FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, Jan. 28; not earlier. Board of Governors of the Federal Reserve System January 27, 1938 CONDITION OF FEDERAL RESERVE BANKS During the week ended January 26 member bank reserve balances increased $>7^000,000. Additions to member bank reserves arose from decreases of $52,000,000 in money in circulation, $18.,000,000 in Treasury deposits with Federal Reserve banks and #28,000,000 in nonmember deposits and other Federal Reserve accomts and an increase of $15,000,000 in Treasury currency, offset in part by an increase of $21,000,000 in Treasury cash other than inactive gold and a decrease of $16,000,000 in Reserve bank credit* Excess reserves of member banks on January 26 were estimated to be approximately $1,440,000,000, an increase of $70,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to $1,223,000,000 on January 26, unchanged for the week. Changes in member bank reserve balances and related items during the week and the year ended January 26, 1938, were as follows! Increase or decrease since Jan. 26 1938 Jan. 19 1938 Jan. 27 1937 (in millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 13 million commitments - January 26) 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 — — — — +8 -2 +134 -6 -18 *• -17 2,594 12,755 2,654 -16 +15 +116 +1,410 +123 7,296 6,294 3,642 117 654 +77 -52 +21 -18 -28 +517 -24 +1,139 -63 +80 — *Less than #500,000* Form FR~28>a Released for publication Friday morning, Jan. 28, 1938; not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Jan. 26, 1938 Jon, 19,1938 Jan, 27, 1937 ASSETS Gold certificates on hand and due from U. S. Treasury 9,117,895 Redemption fund - F. R. notes . . . . 9,443 440,664 Other cash Total reserves . . . . . . . . . . 9,568,002 Bills discounted: Secured by U.S.Gov*t obligations,direct or fully guaranteed 7,632 Other bills discounted 3.838 Total bills discounted . . . . . . 11,470 Bills bought in open market . . . . . 548 Industrial advances .... 17,929 U. S. Government securities: Bonds 727,573 Treasury notes 1,172,213 Treasury bills 664,229 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 . . . . . All other assets 9,118,394 9,393 426,665 9,554,452 8,849,914 12,729 307,743 9,170,386 6,979 3,811 10,790 548 17,829 2,344 513 2,857 3,081 24,085 728,073 1,171,713 664,229 2,564,015 492,182 1,345,963 592,082 2,430,227 2,593,962 171 24,584 503,242 45,011 4o,84o 2,593,182 171 27,260 614,313 45,033 39,625 2,460,250 226 25,022 576,113 46,l45 41,592 . . 12,775,812 12,874,036 12,319,734 F. R. notes in actual circulation . . Deposits: Member bank - reserve account . . . . U. S. Treasurer - General account . . Foreign bank ... Other deposits Total deposits Defarrod availability items . . . . . Capital paid in Surplus (Section 7) . . . . Surplus (Section 13 b) . Reserve for contingencies . . . . . . All other liabilities . . 4,119,084 4,155,272 4,140,506 7,295,871 117,322 157,748 235,604 7,21S,937 135,018 167,934250,047 7,771,936 597,884133,0^1 147,739 27,683 33,019 7,462 6,778,700 180,253 74,947 239,763 7,273,663 558,526 132,105 145,854 27,190 36,235 5,655 12,874,036 12,319,734- TOTAL ASSETS LIABILITIES TOTAL LIABILITIES 7,806,545 503,67-4 133,069 147,739 27,683 33,019 4-, 999 12,775,812 Ratio of total reserves to deposit and F. R. note liabilities combined . . . Contingent liability on bills purchased for foreign correspondents • . . . • 80,2$ 1,592 1,784 Commitments to make industrial advances 13,388 12,723 80,1$ 80.3$ 20,238 Form FR-283-b ASSETS AND LIABILITIES OF IKE FEDERAL RESERVE BANKS OK JANUARY 26, 1938 (In thousands of dollars) ASSETS Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Gold certificates on hand and 9,117,895 482,331 3,739,087 480,698 due from U. S. Treasury 1,710 9,443 669 342 Redemption fund - F.R.notes 440,664 45,114 96,•816 33,125 Other cash 624,093 271,668 217,503 1,738,329 284,991 177,056 262,490 172,340 667,309 380 512 1,007 767 1,466 751 209 1,125 505 37,600 29,4l4 21,640 62,060 17,633 11,438 26,484 15,148 44,192 9,568,002 528,114 3,837,613 514,165 662,700 301,849 24o,6C9 1,800,894 303,375 188,874 289,486 187,697 712,626 Total reserves Bills discountedt Secured by U.S.Gov't obligations, direct or fully guaranteed 7,632 3,838 Other bills discounted 632 100 3,233 375 1,639 867 532 316 315 203 673 665 105 58 49 2 79 172 168 815 17 123 190 142 11,470 548 17,929 732 4l 2,741 3,608 214 4,378 2,506 848 518 1,338 51 50 1,005 24 1,730 19 125 251 2 585 983 16 455 i4o 16 936 332 56 3,557 163 68 694 Total bills discounted Bills bought in open market Industrial advances U. S. Government securitiess Bonds Treasury notes Treasury bills 727,573 53,415 1,172,213 86,060 664,22.9 48,764 Total U.S. Govt, securities 2,564,015 188,2.39 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bonk premises All other assets TOTAL ASSETS 2,593,962 191,753 171 13 24,584 322 503,242 49,668 45,011 3,001 4o,84o 2,504 3 204 39 1,519 209,858 60,047 338,108 96,744. 191,588 54,819 71,802 38,677 30,494 115,685 62,311 49,128 65,551 35,309 27,839 80,132 32,485 23,622 37,486 28,310 61,245 129,102 52,337 38,058 60,395 45,611 98,674 73,156 29,656 21,566 34,222 25,846 55,913 739,554 211,610 253,038 136,297 107,461 282,390 114,478 83,246 132,103 99,767 215,832 747,754 217,729 17 65 5,736 745 126,777 37,895 9,973 4,815 11,835 4,263 254,941 138,569 108,943 16 6 7 1,541 2,313 2,870 46,774 43,194 21,317 6,216 2,700 2,116 4,520 2,511 1,594 283,315 114,736 84,084 133,557 100,859 217,722 21 2 2 12 5 5 774 3,176 3,481 2,068 422 1,136 64,387 22,920 12,904 28,569 23,934 24,903 4,589 2,340 1,489 3,153 1,281 3,338 3,790 1,550 1,433 1,896 1,471 3,473 12,775,812 775,375 4,739,753 779,629 976,708 491,143 377,455 2,160,477 446,991 289,208 457,002 316,021 965,250 Form F&-283-C ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JMUAHI 26, 1938 (in thousands of dollars) LIABILITIES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 4,119,084 272,992 908,951 309,388 Deposits: Member bank - reserve account 7,295,871 408,052 3,306,576 379,948 U.S.Treasurer - General account 117,322 4,710 32,766 3,234 Foreign bank 157,748 11,506 55,307 15,662 Other deposits 235,604 3,852 191,469 1,189 449,415 219,519 176,463 1,044,617 219,982 120,808 236,733 185,486 548,272 11,469 5,495 2,4o3 23,215 4,148 4,379 13,501 3,760 8,242 14,703 6,872 5,593 19,018 4,794 3,676 4,635 4,635 11,347 3,230 3,332 3,736 1,146 5,878 4,112 338 3,095 14,227 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 7,806,545 428,120 3,586,11,8 400,033 503,674 50,170 124,807 37,247 133,069 9,397 50,993 12,277 147,739 9,900 51,943 13,466 27,683 2,874 7,744 4,411 33,019 1,448 8,210 2,000 474 4,999 987 807 478,817 235,218 188,195 1,087,996 234,802 132,975 255,207 196,976 582,088 46,223 42,440 21,121 63,335 24,201 12,601 28,375 26,154 27,000 13,138 4,915 4,428 13,015 3,873 2,895 4,115 3,918 10,100 14,323 4,964 5,626 22,387 4,667 3,153 3,613 3,892 9,805 730 545 1,001 1,142 1,270 2,121 1,429 1,007 3,409 7,312 1,215 1,943 3,177 l,4oi 1,603 934 1,776 2,000 4l4 148 186 171 508 410 235 334 325 12,775,812 775,375 4,739,753 779,629 976,708 491,143 377,455 2,160,477 446,991 289,208 457,802 316,021 965,250 TOTAL LIABILITIES Contingent liability on bills purchased for foreign correspondents 1,592 Commitments to make industrial advances 13,388 419,613 198,610 155,338 128 449 175 164 77 62 1,534 4,589 143 1,433 1,602 332 964,495 177,512 134,315 164,181 81,887 331,802 212 -- 53 4l 52 52 127 431 42 101 269 2,912 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted Bills bought Industrial advances U.S. Government securities 11,470 546 17,929 2,564,015 Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days 8,952 635 298 162 37,720 579 64 334 234,085 797 494 13 785 120,256 1,180 426,671 3,972 133,569 186 1,368 30,630 91 days to 6 months 6 months to 1 Year 1 Year to 2 Years 2 Years to 5 Years Over 5 Years 5,339 303,105 4,789 603,739 674,240 Form FRr2S3~d FEDERAL RESERVE NOTE STATEMENT OK JANUARY 26, 1938 (in thousands of dollars) Total Boston New York Phila. Federal Reserve notes: Issued to F.R.bank by F.R. agent Held by Federal Reserve bank In actual circulation Cleve. Rich. Atlanta Chicago St,Louis Minn. Kons.Cy. Dallas San Fran. 4,489,070 311,127 1,022,750 336,309 369,986 38,135 113,799 26,921 449,799 212,544 177,101 30,186 13,934 21,763 995,039 192,747 138,413 174,989 93,793 384,4*9 30,544 15,235 4,098 10,808 11,906 52,657 4,119,084 272,992 419,613 198,610 155,338 964,495 177,512 134,315 164,18} 81,887 331,802 908,951 309,388 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 4,569,632 341,000 1,035,000 347,000 10,159 670 3,529 1,936 33,000 452,000 208,000 161,000 1,010,000 196,632 136,500 182,000 96,500 404,000 554 515 1,111 153 49 23D 957 138 327 8,000 20,000 5,000 7 Total collateral 4,612,791 341,670 1,038,529 348,936 452,554 216,515 182,111 1,010,153 196,681 141,720 182,957 96,638 404,327
@FedFRASER