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STATEMENT FOR THE PRESS Released for publication Friday morning, July 23; not earlier. Board of Governors of the Federal Reserve System July 2 2 , 1937 COM)ITION OF FEDERAL RESERVE B A M S During the w e e k endod July 21 member bank reserve balances decreased $70,000,000« Then reduction in member bank reserves resulted from an increase of $9^*000*000 i Treasury deposits with Federal Reserve banks and a decrease of $21*000*000 in Reserve bank credit, offset in part by an increase of $2,000,000 in Treasury currency and decreases of 121,000,000 in money in circulation, $5,000*000 in Treasury cash other than inactive gold, and $17*000,000 in nonmember deposits and other Federal Reserve accounts * Excess reserves of member banks on July 21 were estimated to bo approximately $870,000,000, a decrease of $90,000,000 for tho" woek. Inactive gold included in the gold stock and in Treasury cash amounted to $1,173*000,000 on July 2 1 , a decrease of $18,000,000 for the week» The principal changes in holdings of bills and securities were an increase of ¥3*000,000 in U . S» Treasury bills and a decrease of $3*000,000 in U . S. Treasury notes. Changes in member bank reserve balances and related items during the week and the year ended July 2 1 , 1937 were as follows: Increase or decrease since July 21 July lU July 22 1937 1937 1936 (In millions of dollars) Bills discounted Bills bought U , S. Government securities Industrial advances(not including 16 million commitments - July 21) 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 12 3 2,526 22 - 3 - 1 + 9 — + 96 — - — 8 * -18 2,56k 12,1+01; 2,553 -21 -19 + 2 + 98 +1,770 + 56 6,858 6,1+36 3,527 181+ 516 -70 -21 -23 + 9h -17 + 923 + 283 +1,091 - 335 38 *Less than $500,000, (B-801) Released for publication Friday morning, July 23, 1937; not earlier. B-801a ASSETS A N D LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) July 2 1 , 1937 July 14, 1937 July 22, 1936 A S S E T S Gold certificates on hand and due from U . S# Treasury . . . . . . . Redemption fund - F» R . notes • • Other cash Total reserves • Bills discountedt Secured by U.S«Gov't obligations> 1 direct or fully guaranteed . . Other bills discounted • • . . . Total bills discounted • • • Bills bought in open market' • • • Industrial advances « • . . • • . U . S t Government securities: • • • • • • • • . . • • . Total U # S.Government securities 8,835,407 9,549 307,824 8,185,322 12,185 293,1440 9,162,809 9,152,780 8,490,947 8,619 3,553 11,718 3,328 1,528 1,863 12,172 15,046 3,391 3,280 21,665 3,596 21,759 3,088 29,573 732,508 1,162,713 630,969 732,508 1,165,713 627,969 324,721 1,496,719 608,787 2,526,190 2,526,190 2,430,227 • • Treasury bills 8,833,905 9,976 318,928 • — Total bills and securities Due from foreign banks F. notes of other banksUncollected items • • • . . . . ; . • i . • • All other assets TOTAL ASSETS LI A B I L I . . . . • * TOTAL LIABILITIES • 2,563,307 2,566,591 2,466,460 222 28,917 61+5,144.5 45,582 1+3^88 219 26,890 759,714 45,601 42,945 225 28,268 591,182 48,055 144,275 12,1489,870 12,594,7140 11,669,1412 4 , 197,871 4,213,898 3,976,863 6,858,300 183,71+3 161,861+ 95,966 6,927,951 90,232 159,009 115,621 5,935,131 519,317 61,415 238,1445 7,299,873 7,292,813 6,754,308 61(5,176 132,514 11)5,854 27,490 35,672 5,220 741,434 132,459 145,854 .27,490 35,906 4,886 591,841 129,790 145,501 26,513 34,105 10,491 12,489,870 12,594,740 11,669,412 • • • « • . . . Deferred availability items • . . Capital paid in • * Surplus (Section 7) • i . « • • Surplus (Section 13 b ) . • ; . • Reserve for contingencies • • • • All other liabilities . . . . • • . . • • • • • Ratio of total reserves to deposit and F.R* note liabilities combined • . Contingent liability on bills purchased for foreign correspondents . . . . 79.7/o. 3,587 4,150 Commitments to make industrial advances 15,859 16,171 181 T I E S F . R.notes in actual circulation • Deposits: Member bank - reserve account . U.S.Treasurer - General account Foreign bank Other deposits . # Total deposits — 19*5% 19.1% «W> mm 23,771 ASSETS A N D LIABILITIES O F THE FEDERAL RESERVE BANKS .ON JULY 2 1 , 1937 (In thousands of dollars) B-801b A S S E T S Total Gold cortificatos on hand and due from U . S. Treasury R e d e m p t i o n fund - F.R.notes Other cash Total reserves Boston A t l a n t a Chicago St.Louis Ivlinn. R u n s . C v . Dallas S a n r r a n . 713,628 290,369 2140,158 1,755,517 289,957 202,598 2914,818 1914,681 701,769 668 ll+9 387 731 H+5 38 1514 86 3l+ 60 15 110 689 392 367 82 1,076 613 817 1,118 183 2I4O 91+ 125 1,081 1+1+9 1,131 5,867 31+1 3,902 321 85U ll+6 1,996 108 193 3814 896 86 320 60 760 96 613 99 1,230 281+ 2,073 210,233 333,705 181,091 61,861 98,189 53,286 71,309 113,189 61,1+214 30,575 61,231 33,228 32,181+ 51,085 27,722 80,726 128,136 69,536 32,298 51,266 27,821 23,828 37,823 20,525 35,992 57,132 31,003 28,601 63,516 1+5,397 100,821 2l+,636 5U,712 725,029 2 1 3 , 3 3 6 21+5,922 133,031+ 110,991 278,398 111,385 82,176 124,127 98,631+ 219,01+9 737,866 218,655 21+7,710 135,993 112,1.10 4,070 1,769 1,076 5,839 Bills bought in o p e n m a r k e t Industrial advances U # S # G o v e r n m e n t securities: Bonds Treasury notes Treasury bills 3,280 21,665 732,508 1,162,713 630,969 53,385 84,739 1+5,985 Total U . S . G o v t , securities 2,526,190 18^,109 2,563,307 187,831 222 28,917 6U5,^5 U5,582 U3,538 579 31+ 1+35 102 537 22k 2,961 Rich. 9,162,809 1482,055 3,^63,767 533,1+92 12,172 TOTAL ASSETS Cleve. 692,771+ 268,851+ 225,2kl 1,711,917 272,519 195,231+ 279,298 182,350 672,080 1,762 310 1+21 658 896 706 1,31+8 1,121+ 509 6,706 15,210 11,910 27,927 19,958 20,809 13,569 1+3,091 16,311+ Total bills discounted Due from foreign banks F.R* notes of other banks Uncollected items Bank premises A l l other assets Phila. 8,833,905 M*2,8o2 3,380,930 509,8i|6 9,976 482 1,068 692 318,928 38,711 81,769 22,951+ Bills discounted: T Secured b y U , S , G o v t obligati ons, direct or fully guaranteed 8,619 Other bills discounted 3,553 Total bills and securities N e w York 16 31+8 65,1+59 3,029 2,650 86 8,6014 152,800 10,053 12,1+58 — 22 1,027 50,975 l+,878 5,261 20 1,516 65,535 6,293 14,689 9 1,679 53,531 2,755 2,718 8 1,959 21,299 2,213 1,689 279,861 112,031 26 3,1427 88,667 1+,651 l+,Ql+7 1+ 1,789 29,085 2,366 1,655 83,090 124,961 ioi,oltl+ 2 2 1 , 8 5 5 3 1,366 18,026 1,1+95 1,51+1 6 2,315 l+0,9Gl+ 3,2C3 1,962 6 551 26,185 1,253 1,675 16 i+,336 32,979 3,395 3,243 12,1^89,870 71*1,388 h*3Q5*63U 8lU,310 1,039,391 1+87,05^4 379,736 2,136,196 106,887 308,119 i+68,169 325,395 9 6 7 , 5 9 1 ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 2 1 , 1937 (In thousands3 of dollars) B-OOIC L I A B I L I T I E S Hew York Phi la. F.R.notes in actual circulation 4,197,871 206,131 923,025 313/590 Deposits: Member bank - reserve account 6,850,300 31+8,7142 3,000,620 309,111 2,360 103,112 U.S.Treasurer - General accoui t 183,71+3 3,171+ 161,061+ 11,835 Foreign bank 58,271 15,888 Other deposits 95,966 9,186 3,055 30,779 Total deposits Deferred availability items Capital paid in Surplus (Section 7 ) Surplus (Section 1 3 b ) Reserve for contingencies All other liabilities TOTAL LIABILITIES 7,299,873 365,992 3.,192,782 1+17,359 61+5,176 132,511+ 11+5,854 27,1+90 35,872 5,220 Total H+9,311 51,223 51,1+71+ 7,714+ 9,117 950 1+9,896 12,21+7 13,362 l+,325 3,000 531 Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 92,227 336,200 1+31,708 189,605 168,659 975,239 179,144 137,546 164,659 1+61,320 212,279 166,331 7,188 3,204 13,371 ll+,915 6,971 5,674 3,247 2,005 20,1+99 904,064 200,1410 133,401 243,774 177,102 5140,346 6,480 9,128 4,012 21,899 5,074 3,933 10,006 4,863 4,701 11,510 4,701 3,729 2,481 1,827 6,405 165 4,869 10,568 510,105 65,703 12,910 li+,323 '1,007 3,121 i|26 229,685 178,094 1,027,396 216,752 143,51+4 253,452 193,160 52,946 20,305 88,767 30,510 17,714 40,081 29,004 3,070 4,861 4,337 2,896 12,758 3,034 4,034 3,116 4,069 5,616 3,613 3,851 21,504 4,655 1,262 3,422 751+ 1,416 545 1,003 1,142 1,496 1,691 7,005 1,199 2,G4G 941 1,847 252 170 200 1,261 240 166 247 35,616 10,143 9,645 1,996 2,037 394 12,^89,870 741,388 h>305,63b 01^,310 1,039,391 k m , 0 5 k 379,736 2,136,196 436,887 308,119 468,169 325,395 967,591 Contingent liability on'bills purchased for foreign correspondents 3,587 Commitments to make industrial advances 15,859 Bills discounted Bills bought Industrial advances U.S.Government; securities 65,323 9,385 9,826 2,871+ 1,570 207 Glove. ro Boston <•M VN VN Total 12,172 3,280 21,665 2,526,190 262 1,295 2,009 5,484 Within 15 days 9,621+ 273 1,216 32,0/45 108 82 ioU io4 255 167 1,307 1,955 315 10 i,c45 MATURITY DISTRIBUTION OF BILLS A M ) SECURITIES 64 125 302 2,996 351 16 to 50 days 283 225 87 1+3,375 31 to 60 days 918 232 674 127*1*16 330 154 61 to 90 days 559 2,550 844 65,661 126 9 1 days to 6 months hi 6 6 Months to 1 Year 1 Year to 2 Years 3,056 1+96,651 238,997 2 Years to 5 Years Over 5 Years 786 1,090 217,990 5,434 8,1+61+ 621,368 601,607 FEDERAL RESERVE 110TE STATEMENT O N JULY 2 1 , 1937 (in thousands of d o l l a r s ) B-801d Total Federal Reserve notes: Issued to F.R.bank by F.R.agent Held by Federal Reserve bank In actual c i r c u l a t i o n Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis M i n n . K a n s . C y . Dallas San F r a n . I4,5^0,032 329,120 1,028,550 333,3lt9 k 6 2 , 8 3 6 201,139 187,352 1,003,8142 189,035 11*2,769 175,822 100,597 385,621 3l+2,l6l 1+2,989 105,525 19,759 31,0^8 11,53k 10*693 28,553 9,091 5,223 11,163 8,370 U9,kl3 1**197*071 286,131 9 2 3 , 0 2 5 313,590 Ii3l»700 189,605 168,659 975,289 179,1144 137,51+6 l61i,659 92,227 336,208 Collateral h e l d b y 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 Total collateral U,505,632 336,000 1,0)40,000 335,000 1;65,500 2 0 1 , 0 0 0 173,000 1,020,000 190,632 L'-i5,000 178,000 1 02,500 399,000 11,677 537 5,21+4 1,099 6I42 8I43 1,110 183 135 9b 135 1,093 512 20>000 — — — — — 20,000 1+,617,309 336,537 l,0l+5*2L|ii. 336,099 l|66,ll42 201,8143 1914,110 1,020,183 190,817 1145,0914 178,135 103,593 399,512
@FedFRASER