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STATEMENT FOR THE PRESS Board of Governors of the Federal Reserve System July 15, 1937 Released f o r publication Friday morning, July 16; not e a r l i e r CONDITION OF FEDERAL RESERVE BAMS During the week ended July_jU^member bank reserve balances increased $101,000,000, Additions to member bank reserves arose from decreases of $67,000,000 in money in c i r c u l a t i o n , $7*000*000 in Treasury cash, other than inactive g o l d , $11,000,000 in Treasury deposits with Federal Reserve banks, and $10,000,000 in'nonmember deposits and other Federal Reserve accounts, and an incroaso of $7,000,000 i n Reserve bank c r e d i t , Exccss reserves of member banks on July' 11+ were estimated to be approximately $960,000,000,' an increase of $80,000,000 f o r the week. Inactive gold included in the gold stock and in Treasury cash amounted to $1,191,000,000 on July li|, an increase o f $ij.6,000,000 f o r the week. Changes in member bank reserve balances and related items during the week arid the year ended July ll[., 1937 were as f o l l o w s : July lb 1937 Increase or decrease since July 7 July 15 1937 1936 ( I n m i l l i o n s of d o l l a r s ) B i l l s discounted B i l l s bought U, S, GovQj.jjjjjejrt s e c u r i t i e s Industrial advances (not including 16 m i l l i o n commitments - July l2+) Other Reserve bank credit Total Reserve bank c r e d i t Gold stock Treasury curroncy Member bank reserve balances Money in c i r c u l a t i o n Treasury cash Treasury deposits with F. R. banks Nonmomber deposits and other F.R. accounts 15 b + 2,526 22 18 2 — — + + 12 + 96 + 1 7 5 5 + 107 + 2,551 7 2+7 - 1 +1,792+ + 55 6,928 +101 +1,056 2,585 6,2+57 3*550 90 533 + - 67 39 + - 11 - 10 + 267 +1,122 - 503 + 12 (B-801) Released for p u b l i c a t i o n Friday morning, July 16* 1937; not e a r l i e r . B-801a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( I n thousands of d o l l a r s ) July 1957 July 7 , 1937 July 15, 1936 A S S E T S Gold c e r t i f i c a t e s on hand and due from U. S. treasury ; . . . . . . . Redemption fund - F. R; notes . ; . Other cash Total reserves 8,835,407 9,549 307,824 9,152,780 8,835,406 10,399 277,661 9,123,466 8,186,524 12,5^2 287,652 8,486,718 B i l l s discounted! Secured by U.S.Gov't o b l i g a t i o n s , d i r e c t or f u l l y guaranteed i ; . Other b i l l s discounted . . . . . . 11,718 5,328 9*623 3,395 1*052 1,847 15,046 13,018 2,899 Total b i l l s discounted . . . . . B i l l s bought in open market i ; . . I n d u s t r i a l advances U. S. Government s e c u r i t i e s : 1 Bonds . . . . . . . Treasury notes Treasury.bills 3,596 21,759 3*669 21,783 3*084 29,457 732,508 1,165,713 627,969 732,508 1,165,713 627,969 315*672 1,494,218 620,337 Total U.S.Government s e c u r i t i e s . 2,526,190 2,526,190 2,430,227 Other s e c u r i t i e s — Total b i l l s and s e c u r i t i e s 181 . . . 2,566,591 2,564,660 2,465,848 Due from f o r e i g n banks F. R. notes o f other banks• i . . i . Uncollected items. . . . . . . . . Bank premises A l l other assets 219 26,890 759,714 45,601 42,945 219 21,950 638,313 45,601 41,977 229 25,884 681,238 48,055 43,499 12,594,740 12,436,186 11,751,1(71 . . 4,213,898 4,252,417 4,006,015 . . . . ; . . 6,927,951 90,232 159,009 115,621 6,826,707 100,937 172,325 112,381 5,871,746 592,501 60,100 205,713 7,292,813 7,212,350 6,730,060 741,434 132,459 145,854 27,490 35,906 4,886 625,371 132,355 145,854 27,490 35,906 4,443 669,018 129,822 145*501 26,513 34,111 10,431 12,594,740 12,436,186 11,751*471 TOTAL ASSETS L I AB.^L_IT_IES_ F.R. notes i n actual c i r c u l a t i o n Deposits: Member bank - reserve account U.S.Treasurer - General account Foreign bank * . Other d e p o s i t s Total d e p o s i t s Deferred a v a i l a b i l i t y items Capital paid in . . i . . t Surplus ( S e c t i o n 7 ) . . . . Surplus ( S e c t i o n 13 b ) . Reserve f o r c o n t i n g e n c i e s . A l l other l i a b i l i t i e s . . . 4 . j ; . . . . i . . < . . . . . . . . . . . . TOTAL LIABILITIES Ratio o f t o t a l reserves t o d e p o s i t and F.R. note l i a b i l i t i e s combined . . Contingent l i a b i l i t y on b i l l s purchased f o r f o r e i g n correspondents . . . . Commitments t o make i n d u s t r i a l advances 79.5$ 79.6$ 4,150 4,138 16,171 16,110 79.0$ 23,839 ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON JULY li+, 1937 ( i n thousands o f d o l l a r s ) ASSETS B-801b Gold c e r t i f i c a t e s on hand and due from U. S. TreasuryRedemption fund - F.R.notes Other cash Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 8,835,^07 1+35.976 3,31+9,1+11+ 511.107 9,51+9 5lU 1,270 515 307,821+ 39,207 82,251+ 22,1+61 697,153 269,588 231,859 l,72l+,808 280,637 197,986 282,252 185,188 669,1+79 679 358 UkO 1,806 525 1+26 1,1+02 651 1,165 6,312 15,502 11,088 26,1+29 lit-,977 18,667 1 2 , 1 1 2 1+1,871 16,914+ Total reserves 9,152,780 1+75.697 3,1+32,938 533,881 B i l l s discounted: Secured by U.S.Gov't o b l i g a t i o n s . d i r e c t or f u l l y guaranteed 6,809 l,0li+ 11,718 770 Other b i l l s discounted 8 1,762 3,328 67 Total b i l l s discounted 1,022 15,01+6 837 8,571 B i l l s bought i n open market 22l+ 3,596 1,339 355 Industrial advances 5,910 5,885 2,973 21,759 U.S.Government s e c u r i t i e s : Bonds 732,508 55,385 210,233 61,861 Treasury notes 33l+,566 98,1+1+3 1,165,713 8i+,958 Treasury b i l l s 180,230 53,032 627,969 1+5,766 - 712,655 288,681 21+5,353 1,767,330 298,71+6 20l+,977 298,112 196,716 697,711+ Total U.S.Govt, securities Total b i l l s and s e c u r i t i e s Due from f o r e i g n banks F.R.notes o f other banks Uncollected items Bank premises A l l other assets TOTAL ASSETS 566 81+ 1,091 53 376 599 li+5 38 75 86 31+ 60 1,11+1+ 11+6 183 385 898 161 86 320 91+ 60 771 80,726 128,1+67 69,205 32,298 51,398 27,689 23,828 37,921 20,1+27 650 322 871+ 2,001 975 108 195 71,309 113,1+81 61,132 38,575 61,389 33,070 32,181+ 51,216 27,591 91 91 96 619 35,992 57,279 30,856 231+ 306 601+ .171+ 51+0 99 1,238 778 376 2,075 28,601 63,516 1+5.5H+ 101,081 2l+,519 5l+,l+52 2,526,190 181+.109 725,029 213,336 21+5,922 133,031+ 110,991 278,398 111,385 82,176 12I+, 127 98,631+ 2l9,oi+9 2,566,591 188,11+3 7i+0,82i+ 218,625 21+7,768 136,325 112,269 20 8 9 279,861+ 111,952 83,101 12!+, 933 100,511 222,278 219 26,890 759,711+ 1+5,601 it2,9l+5 16 31+6 78,5l+l+ 3,029 2,599 83 6,1+1+2 189,228 10,053 12,1+15 22 l,03l+ 56,757 l+,889 5,051 1,305 80,000 6,293 i+,619 . 1,71+1 60,157 2,755 2,723 2,096 22,751 2,216 1,659 26 3,599 108,773 i+,651 3,975 16 6 6 1+ 3 1,898 l+,ol).6 561+ 1,903 1,916 31+.61+5 19,227 1+1+, 65I+ 29,333 35,665 2,366 3,398 3,203 1,253 1*1+95 3,188 1,668 1,625 1,525 1,918 l2,59l+,7l+0 71+8,371+ i+,391,983 820,237 1,052,61+0 1+92,371 386,352 2,168,218 1+51,236 312,231 !+7l+,7l+2 330,051 966,305 ASSETS AND LIABILITIES OF TEE FEDERAL RESERVE BAMS OK JULY l k , 1937 ( I n thousands o f - d o l l a r s ) L I A B I L I T I E S Total F.R.notes in actual c i r c u l a t i o n Deposits: Member bank - r e s e r v e account U . S . T r e a s u r e r - General account Foreign bank Other d e p o s i t s Total deposits Deferred a v a i l a b i l i t y items Capital paid i n Surplus ( S e c t i o n 7 ) Surplus ( S e c t i o n 13 b ) Reserve f o r c o n t i n g e n c i e s A l l other l i a b i l i t i e s TOTAL LIABILITIES 4,213,898 283,546 New York Phila. 927,059 315,012 6,927,951 342,775 3,026,785 308,500 90,232 159,009 115,621 1,026 31,272 2,876 1+9,000 11,1+91 58,1+18 l+,696 15,427 9,1+31 7,292,313 358,168 3,165,1+75 418,054 71+1,1+31+ 132,1+59 145,854 27,490 35,906 4,886 77,713 9,378 9,826 2,871+ 1,570 299 179,061+ 51,223 51,1+71+ 7,744 9,117 827 53,91+2 12,245 13,362 i+,325 306 1,1+70 Cleve. Rich. Atlanta 435,236 190,942 169,876 B-801c Minn. Kans.Cy. Dallas San Fran. 976,354 173,972 137,331-:. 164,828 92,037 337,702 1+63,106 213,095 169,519 1,003,381 209,71+0 138,193 21+7,7 oli 182,062 51+3,091 3,870 l+,254 3,860 2,861 8,087 1+,661+ 3,592 19,187 2,863 14,483 20,721 6,769 3,530 5,510 3,121 18,261 1,591+ 3,621 l+,722 6,910 2,358 l+,565 187 l+,565 i+,861 11,177 11,012 506,397 228,058 181,742 1,042,1+23 225,242 147,035 256,710 195,368 568,141 58,539 297 79,194 12,916 H+,323 1,007 3,121 446 1+11 386 180 3,000 Chicago St.Louis 4,860 4,869 3,422 1,497 184 22,045 4,336 5,616 754 1,690 104,681 12,746 21,504 1,1+16 7,832 1,262 31,628 3,116 1,003 2,055 251 43,241 4,022 3,613 1,142 941 245 3,877 3,851 1,262 1,847 181 36,315 10,137 9,645 1,996 2,037 332 126 96 122 122 298 1,072 63 125 302 3,019 36,531 3,823 4,655 545 1,199 18,541 2,896 269 12,594,740 71+8,371+ 14,391,983 820,237 1,052,61+0 1+92,371 386,352 2,168,218 1+51,236 312,231 474,742 330,051 966,305 Contingent l i a b i l i t y on b i l l s purchased f o r f o r e i g n correspondents 4,150 Commitments t o make i n d u s t r i a l advances 16,171 B i l l s discounted B i l l s bought I n d u s t r i a l advances U.S.Government s e c u r i t i e s Boston 2,l45 Total Within 1 5 days 15,046 3,596 21,759 2,526,190 12,877 1,455 749 35,561 293 li+7 1+86 5,527 167 1,435 1,991 315 10 MATURITY DISTRIBUTION OF BILLS AND SECURITIES 16 t o 30 days 151 190 736 38,628 31 t o 60 days 761 324 657 57,993 61 t c 90 days 414 1,-627 808 246,834 91 days t o 6 months 830 — 2,358 214,377 6 months t o 1 Year 13 - - 2,^85 490,7145 1 Year t o 2 Years —— 2 Years t o 5 Years —— Over 5 Years — „ „ - - 2bbsk97 8,524 615,868 681,687 STATEMENT ON ( i n thousands of d o l l a r s ) FEDERAL RESERVE NOTE JULY ll+, 1937 B-801d Total Federal Reserve notes: Issued to F.R.bank by F.E.agent Held by Federal Reserve bank In actual c i r c u l a t i o n Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran* i+,552,61+6 331,887 1,032,588 331,127 U63,501 202,129 188,930 1,005,2142 107,565 lU3,317 175,037 100,96? 390,351+ 336,71+0 1+3,51+1 105,529 16,115 20,265 11,107 19»05U 28,660 8,593 5,983 10,209 8,932 52,652 1+,213,890 208,51+6 927,059 315,012 1+35,236 190,91+2 169,876 976,351+ 170,972 137,331+ l6i+,.020 92,037 337,702 Collateral held by agent as sec u r i t y f o r notes issued t o bank: Gold c e r t i f i c a t e s on hand and due from U. S. Treasury E l i g i b l e paper U. S. Gov't s e c u r i t i e s Total c o l l a t e r a l 1+,507,632 336,000 1,01+0,000 335,000 1+65,500 205,000 173,000 1,020,000 190,632 11+5,000 176,000 102,500 399,000 li+,860 837 8,192 1,058 679 1,170 967 183 106 9k 100 551 923 20,000 — — — — — 20,000 i+,622,1492 336,837 1,01+8,192 336,050 1+66,179 206,170 193,967 1,020,183 190,738 ll+5,09l+ 176,100 103,051 399,923
@FedFRASER