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Form FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, July 15» not earlier Board of Governors of the Federal Reserve System July 14* 1938 CONDITIO! OF FEDERAL RESERVE BAMS During the week ended July 13 member bank reserve balances increased $199*000,000. Additions to member bank reserves arose from decreases of $70,000,000 in money in circulation and $11)2,000,000 in Treasury deposits with Federal Reserve banks and an increase of §12,000,000 in gold stock, offset in part by increases of §12,000,000 in Treasury cash and $9*000,000 in nonmember deposits and other Federal Reserve accounts and a docrease of v7*000,000 in Reserve bank credit* Excoss reserves of member banks on July 13 wore estimated to be approximately $3 *150,000,000, an increase of $160,000,000 for the week. Principal changes in holdings of bills and securities were an increase of $9*000,000 in United States Treasury notes and a decrease of $9*000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended July 13, 1938 were as follows: Increase or decreasi since July 13 1938 July 6 1938 July Ik 1937 (in mil lions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including lij. million commitments - July 13) Other Reserve bank credit Total Reserve bank crcdit Gold stock Treasury currency Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R, banks Nomember deposits and other F.R, accounts + 1 MM —» + 6 3 38 16 6 “ 8 - 6 12 2*596 12,979 2,716 - 7 +12 + 1 + 11 + 556 + 165 8,273 +199 - 70 + 12 -li|2 + 9 +1*345 13 -1*235 + 538 + 100 9 1 2,56b 6 M 2,315 628 633 Released for publication Friday morning, July 15, 1938 not earlier. ASSETS AM) LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) July 13, 1938 July 6, 1938 July 14,1937 ASSETS Gold certificates on hand and due from U. S. Treasury • . • . . i . . • Redemption fund - F* R. notes . . . . Other cash « . . . . « . . . . . . . . Bills discounted: Securod by U.S.Gov’t obligations,direct or fully guaranteed . . . . . . . . Other bills discounted . . . . . . . . Industrial advances IT. S. Government securities: • 10,634,922 9,8814 401,129 10,634,927 9,884 374,414 11,01*5,935 11,019,225 8,835,407 9,549 307,824 9,152,780 6,005 3,261 9,26& 4,7o4 3,254 11,718 3,328 7,958 15,046 54o 16,274 537 16,361 3,596 21,759 7144,105 1 ,174,105 645,805 71*4,105 1,165,105 732,508 1,165,713 627,969 2,526,190 2,566,591 Total U.S.Government securities . 2,564,015 654,805 2,564,015 Total bills and secxirities 2,590,095 2,588,871 ..• 183 219 20,252 26,890 759,714 180 25,552 61(4,090 44,578 46,027 14,396,457 14,303,512 12,594,740 4,134,161 4,174,869 4 ,213,898 8,273,069 627,928 128,957 2lj2,8l6 8,073,675 770,193 134,865 227,997 6,927,951 90,232 159,009 9,272,770 9,206,730 7 ,292,813 Deforrod availability items . ; . ; Capital paid i n . . . ; * * • . . . * « 638,000 133,706 147,739 27,683 32,845 9,553 571,624 133,667 147,739 27,683 32,81*6 8r354 741,434 132,459 145,854 27,490 35,906 4,886 TOTAL LIABILITIES ........ Ratio of total reserves to deposit and F. E. note liabilities combined ... Contingent liability on bills purchased for foreign correspondents 114,396,457 14,303,512 12,594,740 1,097 1,368 4,150 Commitments to make industrial advances 13,500 13,468 16,171 TOTAL ASSETS ........... 585,567 1*4,577 44,837 45,601 l£,9i,5 LIABILITIES F.R. notes in actual circulation . . * Deposits: Member bank - reserve account . . . . U.S.treasurer - General acoount . • 82.4$ 82.3$ 115,621 79*5$ Form FR-283-b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 13, 1938 (in thousands of d o lla rs ) A S S E T S Total Boston New York Phila. Gold certificates on hand and due from U* S# Treasury 10,634,922 630,242 4,458,423 492,977 Redemption fund - F.B* notes 9,884 1,263 994 1,854 Other cash 401,129 41,050 108,833 22,994 Total reserves 11,045,935 672,286 4,569,110 517,234 Bills discounted: Secured by U.S.Gov^ obligations* direct or fully guaranteed 6*005 681 245 2,433 Other bills discounted 109 3,261 440 617 Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy« Dallas San Fran* 692,736 298,648 229,145 2,129,485 312,805 224,669 275,231 194,098 696,463 292 846 356 442 1,163 613 255 1,431 375 28,682 22,906 20,381 9,311 22,334 16,817 36,408 54,4d 17,012 722,849 322,167 249,818 2,184,261 330,259 234,826 297,820 211,271 734,034 284 219 579 394 212 582 1,150 11 20 60 58 91 35 167 105 202 203 572 369 354 2,873 1,29.8 503 973 794 1,161 80 149 202 307 Bills bought in open market .40 54Ö Industrial advances 2,416 16,274 U. S. Government securities: Bonds 744,105 56,941 Treasury notes 1,174,105 89,844 Treasury bills 645,805 49,418 213 4,198 f>5 2,855 49 705 23 1,496 19 117 67 528 2 135 S 1,103 16 420 016 3G 1,345 226,407 66,972 357,242 105,674 196,498 58,125 69,727 110,020 60,515 36,922 58,258 32,044 32,271 50,918 80,919 127,682 70,230 33,203 52,391 28,817 21,310 34,428 54,323 24,657 38,906 21,400 60,348 95,222 52,376 Total U#S*Govft securities 2,564,015 196,203 780,147 230,771 240,262 127,224 111,196 270,831 114,411 73,430 110,631 04,963 207,946 Total bills and securities 2,590,095 199,013 Due from foreign banks 180 14 F« R# notes of other banks 688 25,552 Uncollected items 644,090 64,447 Bank premises 44,578 2,973 All other assets 46,027 2,963 787,431 234,979 18 66 5,426 1,518 160,892 49,608 4,762 9,874 13,888 4,624 241,579 129,716 112,126 280,587 114,620 74,764 119,269 06,102 209,901 Total bills discounted TOTAL ASSETS 9,266 17 1,382 68,227 6,130 4,074 8 1,781 52,500 2,661 2,871 28,007 7 1,873 21,959 2,098 2,111 22 3,432 86,236 4,528 4,329 3 2,045 28,659 2,316 1,790 33,625 18,495 2 1,469 18,514 l,54i 1,433 29,880 5 1,732 35,010 3,121 1,904 IL 5 544 25,241 1,271 1,432 13 3,662 32,797 3,295 3,800 1I4, 396,457 942,304 5,546,687 812,743 1,045,066 5H,7o4 389,992 2,563,395 479,700 332,549 450,861 325,866 987,510 Form FR-283-c ASSETS AID LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 13* 1938 (In thousands of dollars) L I A B I L I T I E S Total Boston New York 4,134,161 356,751 Phila* 899,523 302,016 Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities TOTAL LIABILITIES Rich. Atlanta 408,027 189,969 140,499 Deposits: Member bank - reserve account 8,273,069 455,191 3,921,663 385,450 TJ«S*Treasurer - General accour t 627,928 28,401 211,032 28,100 Foreign bank 46,691 12,577 9,241 128,957 Other deposits 21)2,816 191,680 2,561 4,019 Total deposits Cleve« St.Louis Minn. ' Kans.Cy. Dallas San Fran* Chicago i 960,644 172,930 :132,915 163,038 75,996 331,85-3 125,022 227,332 170,153 548,154 474,934 211,445 164,781 1 ,353,990 234,954 : 40,388 36,392 41,068 99,743 21,418 42,425 16,863 35,033 27,065 3,722 3,722 9,H2 3,850 15,272 4,492 2,952 11,807 5,519 10,119 3,336 657 2,453 12,253 4,303 6,637 3,043 1,755 49,225 12,246 13,466 4,4ll 2,000 691 537,248 256,692 ; 214,644 1 ,470,760 266,859 173,442 248,574 211,361 596,584 86,698 29,213 16,710 36,988 27,324 34,294 67,081 49,921 21,814 2,908 3,938 10,171 13,380 13,209 4,165 3,909 4,957 4,455 3,892 5,626 9,805 22,387 3,613 4,667 3,153 14,323 4,964 1,270 2,121 1,142 1,001 730 1,007 3,409 1,429 545 2,000 1,908 1,776 3,176 i,4oi 1,603 934 1,215 7,174 682 512 362 621 824 407 309 391 1,094 14,396,457 942,3B4 5,546,687 812,743 i,c45,o 66 511,704 309,992 2,563,395 479,700 332,549 458,861 325,866 987,510 9,272,770 496,852 4,371,066 638,000 63,762 154,970 133,706 9,412 50,956 9,900 147,739 51,943 27,683 2,874 7,7448,210 1,448 32,84-5 9*553 1,385 2,275 Cqntingent liability on bills purchased for foreign correspondents 1 j 097 Commitments to make industrial advances 13*500 428,688 79 394 107 101 47 38 131 33 25 32 32 78 1,416 3,955 129 1,494 1,849 183 22 611 237 381 91 3,132 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted Bills bought Indus'trial advances U., S. G0verrmient secur it ies 9,266 540 16,274 2 564,015 Within 15 days 7,369 69 1,233 92,271 16 to 30 days 31 to 60 days 61 to 90 days 418 275 277 86,493 536 86 283 171,040 528 110 1,150 236,036 91 days to 6 months 6 months to 1 Year 410 5 — 1,979 — 2,644 102,750 168,763 1 Year to 2 Years — — 6,492 462,645 2 Years Over to 5 Years 5 Years — — ~ — 2,216 664,760 579,257 — Form FR-283-d FEDERAL RESERVE NOTE STATEMENT ON JULY 13# 1938 (In thousands of dollars) Total Federal Reserve notes: Issued to F.R.bank by F.R.agent Hold by Foderai Reserve bank In actual circulation Boston New York Phila# Cleve# Rich# Atlanta Chicago St.Louis Minn# Kans.Cy# Dallas San Fran. 4,472,61*8 300,891 1,004,776 318,965 338,407 24,ll*0 105,253 16,949 431,133 200,421 155/751 1,005/174 106,826 138,853 173*959 23,106 10,452 15,252 44,530 13,896 5,930 10,921 03,248 392,651 7,252 60,798 4.134,161 356,751 408,027 109,969 140,499 960,644 172,930 132,915 163,038 75,996 331,853 4,542,632 390,000 1,010,000 337,000 8,267 319 2,779 901 434,000 202,000 159,000 1,010,000 192,632 l4l,500 177,000 328 863 712 l,l6l 20 130 193 85,500 404,000 292 569 4,550,899 390,519 1 ,012,779 537,901 454,528 202,865 159,712 1 ,011,161 192,652 141,630 177,193 85,792 404,569 899,523 302,016 Collateral held by agent as secu rity for notes issued•to bank: Gold certificates on hand and dus from U. S. Treasury Eligible paper Total collateral
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