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STATEMENT FOR THE PRESS Released for publication Friday morningf July 3; not earlier. Board o£ (Jovernors of "the Federal Reserve System July 2, 1936 CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve bank credit outstanding during the week ended July l t as reported by the Federal Reserve banks, was $2,^73,000,000, a decrease of $5,000,000 compared with the preceding week and of $2,000,000 compared with the corresponding week in 1935* * On July 1 total Reserve bank credit amounted to $2,^73,000,000,- an increase of $1,000,000 for the week, tfhis increase corresponds with increases of $77,000,000 in money in circulation and $281,000,000 in member bank reserve balances, and a decrease of $2,000,000 in Treasury and national bank currency, o f f s e t in part by an increase of $12,000,000 in monetary gold stock and a decrease of $3^5,000,000 in Treasury cash and deposits with Federal Reserve banks. Member bank reserve balances on July 1 were estimated to be approximately $2,670,000,000 in excess of legal requirements* Changes f o r the week in the holdings of Government securities of individual Federal Reserve banks resulted from the transfer of a l l Government securities previously held in the separate investment accounts of these banks to the System Open Market Account and the reallocation of participations in this account among the Federal Reserve banks. The total holdings of Government securities of the Federal Reserve banks remain practically unchanged* Since the reserve ratios of individual Federal Reserve banks do not r e f l e c t conditions in the several Federal Reserve districts because most of the earning assets of the Federal Reserve banks consist of Government securities bought in the open market at the direction of the Federal Open Market Committee, the individual ratios of the several Federal Reserve banks are eliminated from the weekly statement of condition* The ratio of total reserves to Federal Reserve note and deposit l i a b i l i t i e s will continue to be shown in the consolidated statement of assets and l i a b i l i t i e s of a l l of the Federal Reserve banks combined* Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended July 1, 1936, were as follows: Increase or decrease since July 1 June '2k July 3 JSiL 1936 1935 (in millions of dollars) B i l l s discounts Bills boioght U. S• (kwormmxt securities Industrial advances (not including commitments - July l ) Other Reserve bank credit million TOTAL RESERVE BANK CREDIT Monetary gold stock Treasury and national bank currency Money in circulation Member bank reserve balances Treasury cash and deposits with F.R/banks Konmember deposits and other F,R. accounts 4 3 2,^30 -2 — 30 5 +3 2,^73 +1 10,612 2,1+98 6,250 5 >589 3,232 512 J+ -2 -1 +8 +5 +12 -2 +1,1+53 +77 +631 +6S9 +230 -5 B +2S1 -3^5 -1 -6 (B-S01) Released for publication Friday morning, July 3*1936; not earlier. B~S01a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAHKS COMBINED (In thousands of dollars) July 1,1936 June 2^,1936 July 3, 1935 ASSETS Gold certificates on hand and due from U. S. Treasury . . . . . . . . . . Redemption fund - F. R. notes . . . . . Other cash . . . . . Total reserves . . B i l l s discounted: Secured by U.S.Gov't obligations,direct and/or fully guaranteed Other b i l l s discounted . Total b i l l s discounted . . . . , B i l l s bought in open market . . . , Industrial advances . . . . • • . . U. S. Government securities: Bonds 1 Treasury notes . , Treasury b i l l s . g,106t5Ul 12,9^9 266,238 3S5t72S 7,95S,0^2 12,364 272,SHU 8,243,250 6,226,221 22,SSI 2l6y175 6,465,277 2,006 3,9^5 2.204 5,324 2.987 6,189 3,077 29,936 2,371 4,687 27,904 315.673 1,494,218 620.337 315,678 1,494,199 292,743 1,533,137 604,879 Total U.S. Government securities Other securities . < 2,430,228 181 2,430,234 181 2,430,759 Total b i l l s and securities . Duo from foreign banks • F. R. notes of other banks « . . Uncollected items . Bank premises . AH other assets • • • • . . • . 2,467,492 2,469,617 237 20,020 48,051 ^2,331 237 15,392 551,560 48,052 38,813 2,471,721 636 11,642,495 11,366,921 . • . , . , 2.215 4,221 3,077 29.7S5 678,636 . , TOTAL ASSETS 620,357 17,940 527,436 49,239 44,652 9,577,501 LIABILITIES 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 l i a b i l i t i e s . . . 4,046,086 3,920,018 3,299,260 5,5*59,134 731,016 55,192 5,307,954 929,072 56,25s 195,677 4,899,723 181,686 25,700 286,484 673,759 130,947 •549,671 130,879 5,393,593 531,S50 146,570 2,953 11.262 30,777 9,088 11,642,495 11,366,921 9,577,501 201,277 6,576,619 # . TOTAL LIABILITIES 145,501 26,513 34,117 Ratio of total reserves to deposit and F, R. note l i a b i l i t i e s combined . . . Commitments tomake industrial advances 6,488,961 145,501 144,S93 20,870 72.7$ 23,270 24,452 •Revised. 20,844 ASSETS AHD LIABILITIES OP THE FEDERAL BESEKVE EASES OH JULY ; I , 1936 (In thousands of dollars) B-801b ASSETS Total Boston Hew York Phila. Cleve. Bich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran Gold certificates on hand and due 8,106,541 501,699 3,089,972 382,281 593,900 257,131 224,709 1,708,983 239,23s 170,529 228,915 164,97s 538,206 from U. S. Treasury 1,281 1,119 . 686 618 1,705 920 825 Redemption fund - F.fi. notes 12,949 2,114 231 1,000 417 2,033 32,101 11,135 6,732 13,875 5,791 11,979 266,238 27,452 70,202 37,349 24,317 15,348 9,957 Other cash Total reserves 8,385,728 531,265 3,l6l,455 426,7^9 618,903 273,097 236,371 1,7^1,909 251,293 177,492 243,790 171,186 552,218 B i l l s discounted: Secured by U.S.Gov'1 obligations — — — 20 520 direct and/or f u l l y guaranteed 2,006 280 25 50 1,059 25 27 6 ~~s6 8 Other "bills discounted 21 52 2,215 76 13 349 35 1,569 Total "bills discounted B i l l s "bought in open market Industrial advances U.S. Government securities: Bonds Treasury notes Treasury "bills Total U.S.Gov't securities Other securities Total "bills and securities Due from foreign "banlcs F. E. notes of other banlcs Uncollected items Bank premises All other assets TOTAL ASSETS 4,221 3,077 29,7S5 315,673 1,494,218 596 224 2,869 21,006 99,429 620,337 4l,27S 2,430,22s 161,713 181 — 2,467,492 165,402 IS 237 20,020 34I 672,636 74,192 4s,051 3,113 308 42,331 2,628 1,095 7,327 79 120 3,617 21 108 732 85,802 27,431 30,629 16,628 4O6,I45 129,844 144,977 7S,707 l6S,6l4 53,905 60,189 32,676 12,776 60,474 25,106 660,561 211,180 235,795 128,011 9S.356 — 280 316 5,160 38 293 1,735 — — — 671,611 216,936 237,S61 131,827 99,217 S 10 23 22 91 5,597 7S9 1,313 1,043 1,293 192,671 53,624 70,207 51,689 IS, 12? 10,251 5,oso 6,525 2,919 2,284 1,762 1,095 1,519 31,239 3,54s 384 2,104 31 S7 555 37,553 177,757 73,797 289,107 16,876 79,SS6 33,165 129,927 — 35 61 1,355 86 86 1,009 11,249 15,96s 53,244 75,580 22,105 31,379 86,598 122,927 — 1S1 399 86 1,644 2S 217 1,678 12,155 27,600 57,530 130,645 23.SS5 54,238 93,570 212,483 — — 291,595 130,600 88,049 124,289 95,699 214,4o6 4 28 16 3 7 , 7 2,821 423 1,676 1,513 1.3S0 1,831 88,357 25,025 18,366 33,051 21,229 32,096 4,830 2,452 1,531 3,360 1,526 3,5SO 340 388 491 469 797 325 11,642,495 77^.639 ^,073,565 706,749 936,593 46i,6so 35S,S2l 2,130,337 411,227 227,209 406,797 290,395 804,463 ASSETS AHD LIABILITIES OF THE FEDERAL RESERVE BAMS OH JULY 1, 1936 (In thousands of dollars) B-SOlc L I A B I L I T I E S Total 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 Cepital paid in Surplus (Section 7) Surplus (Section l j b ) Reserve for contingencies All other l i a b i l i t i e s TOTAL LIABILITIES Commitments to make industrial advances 3oston 4,o46,os6 366,905 New York Phila. Cleve. Rich. Atlanta S33,84i 303,232 389,266 187,295 ISO,431 Chicago St.Louis Minn. Hans.Cy. Dallas San Fran. 922,777 175,222 122,756 151,996 87,794 323,911 5,539,13^ 271,160 2,3^2,709 286,182 1+10,830 178,282 117,5H 1,034,79s 162,561 104,726 183,006 138,433 358,936 731,016 33,^07 30,995 27,690 27,71^ 26,66s 27,050 52,291 402,778 24,312 27,908 25,^00 24,803 6,476 55,192 ^,132 5,136 5,192 2,^57 1,675 1,95^ 1,3^0 1,611 1,619 3,852 19,7^8 51U 2,519 11.208 2,586 201,277 158,065 2,758 3,389 8,093 M71 6,576,619 311,146 2,923,300 317,733 446,632 209,528 147,843 I,,074,855 200,024 138,051 211,599 169,621 426,287 17,204 33,507 22,031 31,355 89,418 25,853 192,623 52,676 69,253 49,550 17,296 673,759 72,993 —^ ,767 3,806 10,187 2,977 12,283 130,947 3,955 12,057 4,709 9,369 50,967 12,635 ^,235 ,655 3,783 145,501 5,6i6 9,902 5,186 3,ll6 50,825 13,406 14,371 21,350 3,613 9,645 546 1,252 2,874 3,44s 1,142 1,007 1,003 1,121 ^,231 26,513 75^ 1,391 7.7J* 846 894 8,849 3,000 1,328 1,456 3^,117 1,849 1,^13 3,111 2,519 7,573 1,279 206 5,4i6 31s 188 916 ISO 128 8,953 37 85 127 m ill 11,642,495 774,639 ^,073,565 706,7^9 936,593 461,680 358,821 2,130,337 ^11,227 287,209 406,797 290,395 804,483 i\* 23,870 2,773 9,39^ 282 1,453 2,332 289 78 1,760 93 4o6 53s 4,472 MATURITY DISTRIBUTION OF BILLS MID SECURITIES B i l l s discounted B i l l s "bought Industrial advances U. S. Government securities Other securities Total 4,221 3,077 29,785 2,430,22s 181 Within 15 days 2,500 270 1,482 28,225 16 to 30 days 650 763 261 28,827 31 to 60 days 52 16 561 60,415 61 to 90 660 2,028 647 123,716 d a ys 91 days to 6 months 359 2,241 378,898 Over o months 24,593 1,810,147 181 FEDERAL RESERVE NOTE STATEMENT ON JULY 1, 1936 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta B-SOld Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R. bank by F.R.agent 4,30M59 381,802 92^,920 3 1 5 , ^ *+02,068 196,U6l 198,262 952,647 182,189 127,807 Held by Federal Reserve bank 257,973 14,897 91,079 12,242 12,802 8,566 17,831 29,870 6,907 5,051 In actual circulation 164,272 95,863 362,29U 12,276 8,069 38,383 4,046,086 366,905 833,841 303,232 339,266 187,895 180,431 922,777 175,282 122,756 151,996 87,79^ 323,911 Collateral held by agent as security f o r notes issued to bank: Gold c e r t i f i c a t e s on hand and due from U. S. Treasury Eligible paper U. S. Gov't securities Total collateral 4,271,523 396,000 2,744 596 — 67,000 930,706 301,000 402,500 192,000 170,685 105 21 1,322 38 79 — 15,000 — 956,000 169,632 125,000 165,000 96,000 367,000 — 80 28 349 31 35 — — — — 5,000 30,000 13,000 4,ooo 4,341,267 396,596 932,088 316,105 402,538 197,079 200,706 956,000 182,663 129,035 165,080 96,3^9 367,028
@FedFRASER