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Fôrm FRí-283 STATEMENT FOR THE PRESS Released for publication Friday morning, July 29; not earlier. Board of Governors of the Federal Reservé System July 28, 1938* CONDITION OF FEDERAL RESERVE BANKS During the week ended July 27 member bank reserve balances decreased $14,000,000* Reductions in member bank reserves arose from increases of #7,000,000 in Treasury cash, #8,000,000 in Treasury deposits with Federal Reserve banks and #29,000,000 in nonmember deposits and otherFederal Reserve accounts and a decrease of #2,000,000 in Reserve bank credit, offset in part by increases of #13,000,000 in gold stock and #2,000,000 in Treasury currency and a decrease of #17,000,000 in money in circulation* Excess reserves of member banks on July 27 were estimated to be approximately #3,040,000,000, un changed for the week. The principal changes in holdings of bills and securities were an increase of #17,000,000 in United States Treasury notes and a decrease of #17,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended July 27, 1938, were as follows! Increase or decrease since July 27 July 20 .122.8. July 2£ 1937 (in millions of dollars) Bills discounted 7 Bills bought 1 U. S. Government securities 2,564 Industrial advances (not including l4 million 16 commitments — July 27) Other Reserve bank credit -5 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 -1 -------------—. — -8 -2 +38 -2 —6 +1 2,583 13,002 2,719 -2 +13 +2 +23 +569 +145 8,188 6,4l6 2,328 732 64l -14 -17 +7 +8 +29 +1/12 -------------- -1,248 +5o4 +78 Form FB-28>*a Released for publication Friday morning, July 29,193#; not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) July 27. 1938 July 20. 1938 July 28. 193.7 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,^00 9,098 421.229 11,063,727 10,633,423 9,996 406,919 11,050,378 8,833,899 9,936 323,657 9,167,492 4,179 .. 2*142 7,322 539 16,308 4,467 ...jyis 7,585 540 16,214 10,316 4.901 15,217 3,201 21,596 744,105 1,190,870 629.040 2,564,015 744,105 1,174,105 645.805 2,564,015 732,508 1,162,713 .... §20,969 -2,526,190 2,588,184 181 23,516 534,l4l 44,559 .„42 .,m 2,588,354 180 26,602 593,833 44,581 47.486 2,566,204 222 32,396 582,875 45,572 44,769 14,303,421 14,351,414 12,439,530 4,109,643 4,124,138 4,193,413 8,187,723 732,462 125,243 .. 2SL&2. 9,302,883 539,276 133,785 147,739 27,683 32,810 9.602 8,201,896 723,989 126,908 226.518 9,279,311 597,151 133,760 147,739 27,683 32,810 8.822 6,775,505 227,818 185,042 120.372 7,308,737 589,461 132,407 145,854 27,490 35,871 6.297 14,303,421 14,351,414 12,439,530 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 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 82.5$ 82.4$ 79.7$ 879 975 3,212 13,731 13,432 15,726 Form FR—283"*b ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 27-, 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 10,633,400 613,850 4,534,489 467.849 Redemption fund - F.R, notes 9,098 1,398 1,124 902 Other cash 421,229 43,711 112,185 28,028 Total reserves H,063,727 658,463 4,648,072 497,001 Bills discounted» Secured by U.S.Gov’t obligations, direct or fully guaranteed 921 24o 4,179 1,133 Other bills discounted 606 97 395 3,143 Total bills discounted 7,322 1,528 1,527 337 212 Bills bought in open market 4o 55 539 16,308 2,390 Industrial advances 4,190 2,950 U, S. Government securities* Bonds 744,105 56,941 ,226,407 66,972 Treasury notes 1,190,870 91,127 362,343 107,183 Treasury bills 629,040 48,135 191,397 56,616 Total U.S.Gov’t securities Total bills and securities Due from foreign banks F. R. noites of other banks Uncollected items Bank premises All othar assets TOTAL ASSETS 2,564,015 196,203 2,588,184 198,970 181 14 23,516 1,23.4 534,1-41 50,774 44,559 2,973 49,113 3,182 Cleve, Rich, Atlanta1 Chicago St,Louis Minn, Kans.Cy Dallas San Fran, 691,037 309,724 225.720 2,106,569 311,221 223,213 274,994 186,963 687,771 334 1,109 698 384 214 1,218 164 821 732 57,537 18,684 10,808 21,595 17,107 39,628 30,671 23,380 17,895 722,926 333,836 243,779 2,164,8o4 330,289 234,842 296,803 2o4,4o4 728,508 374 211 606 398 191 606 115 12 95 60 585 49 768 1,004 23 1,487 797 19 120 127 67 523 155 2 135 111 70 181 2 1176 38 147 185 16 418 i4o 235 215 306 375 16 807 521 38 1,344 69,727 36,922 32,271 111,591 59,090 51,645 58,944 31,212 27,280 80,919 33,203 21,310 34,429 24,656 60,348 129,505 53,139 34,105 55,098 39,462 96,582 68,407 28,069 18,015 29,104 20,845 51,016 780,147 230,771 240,262 127,224 111,196 278,831 ll4,4ll 73,430 118,631 84,963 207,946 786,077 235,303 67 18 5,115 1,577 131,021 41,028 9,874 4,752 14,638 5,157 2-41,664 129,738 112,132 17 8 6 1,070 1,281 1,472 60,095 40,196 17,060 6,1-43 2,654 2,094 5,162 3,010 2,241 279,548 114,703 74,789 119,250 86,161 209,849 23 3 2 5 5 13 2,669 2,269 1,055 1,547 443 3,804 69,465 22,540 17,165 30,478 25,530 28,789 4,528 2,316 1,547 3,121 1,271 3,286 4,656 1,917 1,510 2,076 1,545 4,019 14,303,421 915,590 5,594,864 784,8361,037,077 510,723 378,784 2,525,693 474,037 330,910 453,280 319,359 978,268 Form FR-283-c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 27, 1938 (in thousands of dollars) LIABILITIES Total Boston New York Phila. Cleve, Rich. Atlanta F.R.notes in actual circulation 4,109,643 354,966 898,328 300,283 Deposits* Member bank — reserve account 8,187,723 434,720 3,907,142 369,336 U.S.Treasurer - General account 732,462 37,407 289,889 26,123 Foreign bank 125,243 9,021 44,930 12,279 Other deposits 257,455 3,784 204,620 2,654 473,419 222,106 161,959 1,334,264 229,890 123,185 223,713 167,564 540,425 45,152 38,829 38,371 101,337 27,780 43,531 21,986 30,906 31,151 11,527 5,388 4,385 14,910 3,759 2,882 3,633 3,633 8,896 9,335 2,801 4,743 1,845 6,156 3,492 471 2,484 15,070 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 539,433 269,124 209,458 1,452,356 267,585 173,090 249,803 204,587 595,542 23,858 16,861 30,410 28,198 30,692 59,147 40,026 16,714 72,351 23,858 L.cXsO 4.4£n i.qiq ?.Qn ^.q4i id.174 10,174 4,962 4,460 13,250 3,919 2,911 4.177 4,177 3,941 13,389 3,892 4,964 5,626 22,387 4,667 9,805 14,323 3,153 3,613 730 545 1,001 1,142 1,270 2,121 1,007 3,409 1,429 934 1,776 2,000 3,176 1 / 0 1 7,146 1,215 1,901 1,603 4o6 362 552 307 685 862 453 1,153 631 TOTAL LIABILITIES 9,302,883 4ö4,932 4,446,581 410,392 539,276 51,340 128,677 41,002 133,785 9,415 50,959 12,228 147,739 9,900 51,943 13,466 27,683 2,874 7,744 4,4li 32,810 1,448 8,210 2,000 9,602 715 2,422 1,054 405,740 186,431 139,562 Chicago St.Louis Minn, Kans.Cy* Dallas San Fran, 955,621 171,886 131,441 162,740 75,388 327,249 14,303,421 915,590 5,594,864 784,836 1,037,077 510,723 378,784 2,525,693 474,037 330,910 453,280 319,359 978,268 Contingent liability on bills purchased for foreign correspondents 879 Commitments to make industrial advances 13,731 63 316 86 81 38 31 105 26 20 25 25 63 l,4l4 3,933 405 1,482 l,84o I83 22 586 237 442 91 3,096 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted Bills bought Industrial advances U,' S. Government securities 7,322 539 16,308 2,564,015 Within 15 days 5,478 307 1,728 86,493 16 to 30 days 31 to 60 days 61 to 90 days 529 105 47 87,710 418 90 380 215,480 613 37 626 223,779 91 days to 6 months 6 months to 1 Year 280 - - 2,44l 58,363 1 Year to 2 Years 2,401 168,763 Over 5 Years _ _ A —— 2 Years to 5 Years ----- 6,334 479,410 ----- 2,351 579,257 - — - — 664,760 Form FR-283-d FEDERAL RESERVE NOTE STATEMENT ON JULY 27, 1938 (In thousands of dollars) Total Boston New York Phila, Cleve, Federal Reservè notes* Issued to F,R,baak by F.R,agent Held by Federal Reserve bank l a actual Cirelation Rich, Atlanta Chicago St,Louis Minn, Kans»Cy, Dallas San Fran, 4,433,662 379,422 998,768 319,612 430,056 197,796 155,121 324-,019 24,4-56 100,440 19,329 24-,316 11,365 15,559 996,709 185,100 137,551 173,596 83,485 376,446 4ly088 13,214 6,110 10,848 8,097 49,197 4,109,643 354,966 955,621 171,886 131,441 162,746 75,388 327,249 898,328 300,283 4o5,74o 186,431 139,562 Collateral held by agent as secu rity for notes issued to bank* 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 6,292 302 1,452 1,099 4l0 880 714 127 95 167 176 353 517 4,534,924 390,302 1,011,452 328,099 434,410 202,880 159,714 1,010,127 188,727 l4l,667 177,176 85,853 4o4,517
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