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Form FR- 283 STATEMENT FOR THE Released for publication Friday morning, July 22; not earlier. PRESS Board of Governors of the Federal Reserve System July 21, 1938 CONDITION OF FEDERAL RESERVE BANKS During the week ended July 20 member bank .reserve balances decreased #71,000,000« Redactions in member bank reserves arose from increases of $96,000,000 in Treasury deposits with Federal Reserve banks and #6 ,000,000 in Treasury cash and a decrease of #11,000,000 in Reserve bank credit, offset in part by decreases of #11 ,000,000 in money in circulation and #21,000,000 in non— member deposits and otherFederal Reserve accounts and an increase of #10,000,000 in gold stock. Excess reserves of member banks on July 20 were estimated to be approximately #3,040,000,000, a decrease of #110,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended July 20, 1938, were as follows* Increase or decrease since July 20 1938 July 13 1938 July 21 1937 (in millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 13 million commitments - July 20) 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 8 1 2,564- -1 --- -4 -2 +38 16 -3 --9 -6 —3 2,585 12,989 2,717 -11 +10 +1 +21 +585 +164 8,202 6,433 2,321 724612 -71 -11 +6 +96 -21 +1,344 ~3 -1,206 +540 +96 'Form FR-283-a Released for publication Friday morning, July 22,1938; not earlier, ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) July 20. 1938 July 13. 1938 July 21. 1937 ASSETS Gold certificates on hand and due from U. S, Treasury . . . . . . Redemption fund - F. R. notes . . Other cash . . . . . ........ Total reserves ........... . Bills discounted* Secured by U. S. Gov’t obligations, 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 • • * . . . Total U.S. Government securities Total bills and securities Due from foreign banks . . F. R. notes of other banks Uncollected items . . . . Bank premises All other assets . . . . . TOTAL ASSETS ...... 10,633,423 9,996 406.959 11,050,378 10,634,922 9,884 401.129 11,045,935 8,833,905 9,976 ...3.l8-t?28 9,162,809 4,467 .... 3.1II8 7,585 540 16,214 6,005 ___ 2*261 9,266 540 16,274 8,619 __ 12,172 3,280 21,665 744,105 1,174,105 645.805 2,564,015 744,105 1,174,105 645.805 2,564,015 732,508 1,162,713 630.969 2,526,190 2,588,354 180 26,602 593,833 44,581 47.486 2,590,095 180 25,552 644,090 44,578 46.027 2,563,307 222 28,917 645,445 45,582 . 43,588 14,351,414 14,396,457 12,489,870 4,124,138 4,134,161 4,197,871 8,201,896 723,989 126,908 226.518 8,273,069 627,928 12.8,957 242.816 9,272,770 638,000 133,706 147,739 27,683 32,845 9.553 6,858,300 183,743 l6l,864 95.966 14,396,457 12,489,870 LIABILITIES F. R. notes in actual circulation Deposits* Member bank - reserve account . U.S. Treasurer - Genèràl 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 . . . TOTAL LIABILITIES 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 9,279,311 597,151 133,760 147,739 27,683 32,810 8.822 14,351,414 82.4$ 82.4$ 7,299,873 645,176 132,514 145,854 27,490 35,872 5,220 79.7% 975 1,097 3,587 13,432 13,500 15,859 Form FR-283-b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON JULY 20, 1938 (In thousands of dollars) A S S E T S Total Boston New York Phila» Gold certificates on hand and due from U. S. Treasury 10,633,423 625,400 4,500,356 478,702 Redemption fund - F. R. notes 9,996 931 1,586 1,148 Other cash 406,959 42,436 110,708 25,868 Total reserves 11,050,378 668,767 4,612,650 Bills discounted« Secured by U.S.Gov't obligations, direct or fully guara ed 4,467 2,004 225 Other bills discounted 3,118 109 415 Total bills discounted 7,585 334 2,419 Bills bought in open market 540 40 213 Industrial advances 16,214 2,391 4,192 U. S. Government securit: ;t Bonds 744,105 56,941 226,407 Treasury notes 1,174,105 89,844 357,242 Treasury bills 645,805 49,418 196,498 Total U.S.Gov’t securities> , 2,564,015 196,203 780,147 i 2,588,354 198,968 Total bills and Due from foreign banks l4 180 F. R. notes of other banks 26,602 877 Uncollected items 593,833 59,401 Bank premises 44,581 2,973 All other assets 47,486 3,074 TOTAL ASSETS 505,718 Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 688,673 301,180 226,170 2,092,169 320,182 223,862 278,334 189,651 708,744 1,324 1,060 241 755 4l4 833 234 339 1,131 28,981 23,398 18,94l 56,204 16,696 9,367 21,351 16,138 36,871 718,978 325,638 245,352 2,149,128 337,292 234,062 299,919 206,128 746,746 660 594 359 220 381 382 221 567 110 A 1,254 55 2,858 579 49 759 763 788 19 117 ll4 67 523 23 1,490 4o 60 100 2 135 111 71 38 149 105 213 224 ... .J21_.. 182 2 1,176 187 16 418 329 16 811 536 38 1,344 66,972 105.674 53 125 69,727 36,922 32,271 110,020 58,258 50,918 60,515 32,044 28,007 80,919 33?203 21,310 34,428 24,657 60,348 127,682 52,391- 33,625 54,323 38,906 95,222 70,230 28,817 18,495 29,880 21,400 ...52,376... 230,771 240,262 127,224 111,196 278,831 ll4,4ll 73,430 118,631 84,963 207,946 786,971 234,938 66 18 6,308 1,626 144,966 45,731 9,874 4,762 14,209 4,734 241,649 129,500 112,120 8 17 7 1,030 1,746 1,631 64,404 47,380 19,874 6,138 2,661 2,095 5,056 2,912 2,189 279,535 114,648 74,790 119,252 86,U9 209,864 22 2 5 5 3 13 544 4,657 3,835 1,526 1,616 1,206 75,729 26,448 17.532 37,311 2.4,013 31,044 4,528 2,316 1,547 3?121 1,271 3,295 4,.517 1,803 1,473 2,019 1,504 3,936 l4,351,4l4 934,074 5,575,044 797,527 1,037,272 509,845 383,268 2,517,294 484,096 331,022 462,833 319,584 999,555 Form FR-283--C ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 20, 1938 (In thousands of dollars) LIABILITIES Total Boston New York Phila, F,R,notes in actual circulation 4,124,138 355,607 898,978 301,125 Deposits* Member bank — reserve account 8,201,896 442,442 3,94-9,118 367,501 U.S.Treasurer - General account 723,989 39,584 247,434 34,337 Foreign bank 126,908 9,240 44,642 12,577 Other deposits 226,518 3,946 173,068 4,005 Total deposits 9,279,311 495,212 4,4i4,262 418,420 Deferred availability items 597,151 58,951 l4o,6o3 45,195 Capital paid in 133,760 9,415 50,958 12,245 51,943 13,466 Surplus (Section 7) 147,739 9,900 27,683 2,874 Surplus (Section 13 b) 7,744 4,4ii 32,810 1,448 Reserve for contingencies 8,210 2,000 8,822 2,346 All other liabilities 667 665 Cleve. Rich. Atlanta Chicago St,Louis Minn, Kans.Cy. Dallas San Fran, 4o5,4l6 188,520 140,154 958,769 172,608 132,377 164,368 75,952 330,264 469,926 214,620 157,270 1,317,399 228,341 119,745 220,581 166,641 548,312 45,801 36,956 44,489 101,675 28,785 45,778 27,298 33,023 38,829 11,807 5,519 4,492 15,273 3,850 2,952 3,722 3,722 9,112 9,357 2,8.33 4,074 1,519 6,744 3 ¿002 532 536,891 259,978 210,325 1,435,866 267,720 171,477 252,133 206,247 610,780 62,263 46,229 19,764 77,388 33,087 17,682 36,o4o 36,216 33,733 13,389 4,962 4,461 13,213 3,919 2,910 4,177 3,939 10,172 4,964 5,626 22,387 4,667 3,153 3,613 3,892 9,805 14,323 730 545 1,001 1*142 1,270 2,121 3,409 1,007 1,429 3,176 1,401 1,603 7,146 1,215 1,901 934 1,776 2,000 382 1,096 426 807 521 605 335 292 680 14,351,414 934,074 5,575,044 797,527 1,037,272 509,845 383,268 2,517,294 484,096 331,022 462,833 319,584 999,555 Contingent liability on bills purchased for foreign correspondents 70 96 975 350 90 116 42 28 34 28 29 23 69 Commitments to make industrial 13,432 1,415 1,486 1,842 I83 22 238 374 advances 3,939 125 605 91 3,112 TOTAL LIABILITIES MATURITY DISTRIBUTION OF BILLS AND SECURITIES Bills discounted Bills bought Industrial advances U. S, Government securities Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days 7,585 540 l6,2l4 2,564,015 5,662 239 1,885 81,361 612 168 58 92,335 417 23 367 192,780 570 110 611 229,401 91 days to 6 months 6 months to 1 Year 320 - — 2,423 92,713 4 -------------- 2,278 168,763 1 Year to 2 Years M — -------------- 6,401 462,645 2 Years to 5 Years •mm — -------------- 2,191 579,257 Over 5 Years , -------------- 664,760 Forra FR—283—d FEDERAL RESERVE NOTE STATEMENT ON JULY 20, 1938 (in thousands of dollars) Total Boston New York Phila. Cleve. Rich, Atlanta Chicago St,Louis Minn. Kans.Cy, Dallas San Fran, Federal Reserve notesl Issued to F.R.bank by F.R.agent 4,455,659 381,694 1,001,525 316,998 430,241 199,021 154,839 1,001,821 186,189 138,336 173,708 83,2-49 388,038 Held by Federal Reserve bank331,521 26,087 102,547 15,873 24,825 10,501 14,685 4-3,052 13,581 5,959 9,34-0 7,297 57,77-4 In actual circulation 4,124,138 355,607 898,978 301,125 4o5,4l6 188,520 140,154 958,769 172,608 132,377 164,368 75,952 330,264 Collateral held by agent as secu rity for notes issued to banks Gold certificates on hand and due from U. S. Treasury Eligible paper Total collateral 4,528,632 390,000 1,010,000 327,000 434,000 202,000 159,000 1,010,000 188,632 l4l,500 177,000 85,500 404,000 6,615 299 2,333 876 4o4 639 706 ll4 40 165 178 329 532 4,535,247 390,299 1,012,333 327,876 434,4o4 202,639 159,706 1,010,114 188,672 l4l,665 177,178 85,829 4o4,532
@FedFRASER