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Form'FR-,283 STATEMENT FOE THE PRESS Released for publication Friday morning, July 28; not earlier, Board of Governors of the Federal Reserve System July 27, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended July 26 member bank reserve balances increased $24,000,000. Additions to member bank reserves arose from decreases of$24,000,000 in Treasury cash, $20,000,000 in money in circulation and $22,000,000 in Treasury deposits with Federal Reserve banks, and from increases of $36,000,000 in gold stock and $3 >000,000 in Treasury currency, offset in part by an increase of $56,000,000 in nonnember deposits and other Federal Reserve accounts and a de crease of $25,000,000 in Reserve bank credit. Excess reserves of member banks on July 26 were estimated to be approximately $4,490,000,000, unchanged for the week. The principal change in holdings of bills and securities was a reduction of $27,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended July 26, 1939, were as follows! Increase or decrease since July 26, 1939 July 19, 1939 July 27, 1938 (In millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 11 million commitments - July 26) Other Reserve bank credit 5 1 2,488 13 6 - - 2 — --- - 27 - 76 _r T^ —i + 2 4- 3 11 .M Total Reserve bank credit Gold stock Treasury currency 2,512 16,227 2,893 - 25 + 36 + 3 71 + 3,225 + 174 Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R. banks Nonmember deposits and other F.R. accounts 10,436 7,002 2,506 742 947 + + + 2,248 + 586 + 178 + 10 + 306 24 20 24 22 56 Porn FR-283-a Released for publication Friday morning, July 28,1939? not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since July 26, July 19, July 27, 1939 1939 1938 ASSETS Gold certificates on hand and due from U. S. Treasury + 58,004 +3,075,822 13,709,222 Redemption fund - F. R. notes + 1,379 9,101 3 Other cash + 14,903 — 50.250 370.979 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 14,089,302 + 74,286 +3,025,575 1,061 . A,696 + 63 +____±6. + 99 + - 558 12,579 + + 2 22 + — 911,090 1,176,109 401.020 - 26.918 Total U.S. Government securities 2,488,219 - 26,918 Total bills and securities 2,506,052 - 26,795 Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS - 3,101 475 2,626 19 3,729 + 166,985 .14,761 - 228.020 <~ 75,796 — ~ + + 82,132 16 650 165 2 42,321 49*372 17,337,686 - 1,085 - 79,862 24 + 721 - 32,749 4,498,758 - 10,204 + 389,115 24,239 +2,248,563 + 9,938 + 162,414 + 144.999 +2,565,914 + 82,518 22,866 627,608 93,467 2,238 259 +3 *034,265 LIABILITIES P. R. notes in actual circulation Deposits* I.Iember bank - reserve account U.S. Treasurer - General account Foreign bank Other deposits Total deposits Deferred availability items Other liabilities including accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of total reserves to deposit and F. R. note liabilities combined Contingent liability on bills purchased for foreign correspondents Comr.itnents to make industrial advances 10,436,286 742,400 287,657 402.454 11,868,797 621,794 + + + + - 21,816 8,619 47.438 58,480 81,647 2^20. 16,991,769 + 248 135,430 149,152 27,2.64 34.071 17,337,686 86.1% - 33,123 + 1 t ..225 + + - - 32,749 +3,034,265 4- «2% + — - + --- 11,476 - .. A92 +3,037,054 + 148 184 1,645 1,413 419 5,428 3.6% 879 2,255 Form FR-283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 26, 1939 (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 13,709,222 Redemption fund - F.R.notes 9,101 Other cash 370,979 785,544 6,605,679 663,719 446 1,747 937 23,952 101,543 29,057 860,505 334,740 285,224 2,189,264 365,794 249,277 343,714 219,918 580 757 496 264 1,126 496 403 6i!l 45,188 17,332 10,299 19,445 16,193 24,375 24,807 23,522 805,844 1,168 35,266 809,942 6,708,969 693,713 885,460 360,304 309,010 2,235,578 383,622 259,979 363,8/0 2.36,607 842,278 Total reserves 14,089,302 Bills discounted* Secured by U.S.Gov*t obligations, direct or fully guaranteed 1,061 Other bills discounted 3,635 Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 115 28 121 954 165 196 23 240 446 307 æ 126 1,075 218 2,794 36I 263 52 36I 753 24 1,144 146 20 762 — — 268 173 268 70 474 173 2 4 10 53 263 34 67 412 60 615 63 297 2 897 16 206 479 16 565 675 40 943 73,348 94,683 32,285 Total bills discounted Bills bought in open market Industrial advances U. S. Government securities* Bonds Treasury notes Treasury bills 4,696 558 12r579 143 42 1,708 911,090 1,176,109 401,020 66,909 86,373 29,451 267,160 77,274 344,870 99,750 117,592 34,012 98,492 41,879 25,775 44,955 34,652 91,264 50,811 38,571 117,812 65,590 49,792 127,141 54,063 33,274 58,030 44,731 40,170 22,364 16i?77 _____ 43,352 18,423 11,345 19,787 15,252 Total U.S.Gov’t securities 2,488,219 182,733 729,622 211,036 249,246 138,765 105,340 268,985 114,375 70,394 122,772 94,635 200,316 Total bills and securities 2,506,052 184,626 733,709 214,174 249,922 140,686 106,268 269,797 114,554 71,356 123,291 95,695 201,974 165 22,866 627,608 42,321 49,372 12 297 61,348 2,917 3,103 61 17 4,263 1,062 166,715 43,848 8,942 4,625 14,812 4,354 6 1,776 76,514 50,172 20,103 2,051 5,931 2,583 5,459 3,274 2,124 21 2 2 5 5 2,818 1,361 1,654 1,521 458 82,021 25,326 15,109 30,648 22,972 3,908 2,26o 1,510 3,170 1,233 4,726 1,977 1,816 2,228 12 3,553 32,832 3,183 4,060 Due from foreign banks F*R.notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS 56 2,721 15 1,320 7 2,783 17,337,686 1,062,245 7,637,471 961,793 1,224,621 559,809 Ml,338 2,598,869 529,110 351,049 524,703 358,786 1,087,892 Form FR-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 26, 1939 (in thousands of dollars) LIABILITIES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy* Dallas San Fran. >n 4,498,758 Deposits t Member bank-reserve account 10,436,286 U.S.Treasurer-General accoui 742,400 Foreign bank 287,657 Other deposits 402,454 384,994 1,122,212 316,539 422,030 193,995 151,092 130,938 : 178,635 : 997,647 : 170,931 76,147 353,598 521,998 5,666,391 498,612 38,530 173,438 •32,726 20,741 102,368 27,946 9,877 300,760 8,470 583,032 248,901 189,649 1,324,555 252,918 : 137,085 243,398187,593 70,595 33,355 52,015 96,725 46,199 44,272 51,692 49,198 34,860 8,355 6,626 8,355 8,355 26,793 12,388 10,083 14,772 5,184 7,572 8,567 1,382 14,704 1,533 5,924 582,154 48,655 20,787 23,709 Total deposits Deferred availability items Other liabilities including accrued dividends 591,146 6,242,957 567,754 61,915 152,269 44,827 695,124 301,177 257,671 1,470,912 312,656 : 195,555 312,012 ;3/4528 675,305 74,652 49,756 19,833 85,323 27,238 15,350 31,506 24,996 34,129 11,868,797 621,794 2,420 286 793 288 214 112 30 215 52 202 95 66 67 TOTAL LIABILITIES 16,991,769 1,038,341 7,518,231 929,408 1,192,020 544,958 428,708 2,554,097 518,581 341,938 514,651347,737 1,063,099 CAPITAL ACCOUNTS . 9,408 Capital paid in 13,774 3,993 2,916 4,283 4,038 135,430 50,867 12,201 13,734 5,113 4,535 10,568 22,666 4,685 3,153 3,613 3,892 149,152 Surplus (Section 7) 10,083 52,463 13,696 14,323 4,983 5,630 9,965 2,874 1,007 3,293 1,429 : 27,264 Surplus (Section 13b) 7,457 4,416 545 1,001 1,142 1,266 713 2,121 Other capital accounts 34,071 : 1,539 3,537 1,462 1,752 6,903 1,306 2,041 1,014 1,853 2,139 8,453 2,072 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 17,337,686 1,062,245 7,637,471 961,793 1,224,621 559,809 441,338 2,598,869 529,110 351,049 524,703 353,786 1,087,892 Commitments to make industrial advances 1,446 11,476 46 436 67 618 — 2,192 1,346 571 .3,661 953 140 MATURITY DISTRIBUTION OF BILLS AND SECURITIES 61 to Over 91 days to 6 months 1 Year 2 Years to 16 to Within 31 to to 1 Year 90 days 6 months to 2 Years 5 Years Total 15 days 30 days 60 days 5 Years Bills discounted Bills bought Industrial advances U. S. Government securities 4,696 558 12,579 2,488,219 1,483 134 1,381 79,305 194 6 757 83,790 1,949 95 259 139,875 618 323 583 85,550 448 — 1,798 115,176 4 — 1,855 296,068 _ — 2,548 270,250 — 3,398 587,860 ----- 830,345 Form FR-283-ä FEDERAL RESERVE NOTE STATEMENT ON JULY 26, 1939 (in thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Federal Reserve notes* Issued to F.R.bank by F.R.agent 4,811,723 408,157 1,228,003 332,719 440,538 207,065 162,974 1,028,221 191,118 137,503 182,112 83,703 409,550 Held by Federal Reserve bank 312,965 23,163 105,791 16,180 18,508 13,070 11,882 30,574 12,483 6,625 11,181 7,556 55,952 In actual circulation 4,498,758 334,994 1,122,212 316,539 422,030 193,995 151,092 997,647 178,635 130,93« 170,931 76,147 353,598 Collateral held by agent as se curity for notes issued to bank* Gold certificates on hand and due from U. S. Treasury 4,927,000 420,000 1,248,000 345,OoO 445,000 210,000 169,000 1,045,000 196,000 143,500 185,000 86,500 434,000 Eligible paper 2,453 128 199 165 73 666 — — 17 16 238 421 530 Total collateral 4,929,453 420,128 1,248,199 345,165 445,073 210,666 169,000 1,045,000 196,017 143,516 185,238 86,921 434,530
@FedFRASER