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STATEMENT FOR THE PRESS Released for publication Friday morning, July 30; not earlier. Board of Governors of the Federal Reserve System July 29, 1937. CONDITION OF FEDERAL RESERVE BANKS During the week ended July 28, member bank reserve balances decreased $82,000,000. The reduction in member bank reserves resulted from increases of $20,000,000 in Treasury cash other than inactive gold, $44,000,000 in Treasury deposits with Federal Reserve banks and $47,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $4,000,000 in Reserve bank credit offset in part by an increase of $21,000,000 in Treasury currency and a decrease of $12,000,000 in money in circulation. Excess reserves of member banks on July 2.8 were estimated to be approximately $810,000,000, a decrease of $60,000,000 for the week. Inactive gold included in the gold stock and in Treasury cash amounted to $1,202,000,000 on July 28, an increase of $29,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended July 28, 1937, were as follows! Increase or decrease since July 28 1937 July 21 1937 July 29 1936 (In millions of dollars) Bills discounted Bills boilgftt U. S. Government securities Industrial advances (not including 16 million commitments - July 28) Other Reserve bank credit Total Resei-ve bank credit Gold stock Treasury currency Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F.R. banks Nonmeftiber deposits and other F. R. accounts 15 3 2,526 +3 +11 +96 22 -o -6 2,560 12/33 2,574 -4 +29 +21 +99 +1,791 +78 -82 -12 +49 +760 +301 +1,135 -238 +1.1 * 6,776 6,424 3,576 228 563 +44 +47 — (B-801) Released for publication Friday morning, July 30,1937; not earlier* B-801a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) July 28, 1937 July 21, 1937 July 29, 1936 ASSETS Gold certificates on hand and due from U. S. Treasury Redemption fund - F. R. notes % • Other cash . . . .. 8,833,905 9,976 318,928 8,185,529 11,663 303,084 • •••..••. 8,833 ,899 9,936 323,657 9,167,492 9,162,809 8,500,276 Bills discounted! Secured by U.S.Gov't obligations, direct or fully guaranteed Other bills discounted . . . 10,316 4,901 1,676 1,992 Total reserves Total bills discounted , . * 15,217 8,619 3,553 12,172 Bills bought in open market . . Industrial advances U. S. Government securities * Bonds Treasury notes . Treasury bills .. 3,201 21,596 3,280 21,665 3,092 29,584 732,508 1,162,713 630,969 732,508 1,162,713 630,969 324,721 1,496,719 608,787 2,526,190 2,526,190 2,430,227 Total U. S. Government securities Other securities . .. Total bills and securities . . . Due from foreign banks . . . . . . F. R. notes of other banks . . . . Uncollected items . . Bank premises • All other assets 3,668 181 2,566,204 2,563,307 2,466,752 222 32,396 582,875 45,572 44,769 222 28,917 645,445 45,582 43,588 221 24,185 553,019 43,055 45,282 12,439,530 12,489,870 11,637,790 4,193,413 4,197,871 3,951,101 6,775,505 227,818 185,042 120,372 6,858,300 183,743 161,864 95,966 6,016,170 466,210 57,158 240,676 7,308,737 7,299,873 6,780,214 589,461 132,407 145,854 27,490 35,871 6,297 645,176 132,514 145,854 27,490 35,872 5,220 559,363 130,170 145,501 26,513 34,104 10,824 12,439,530 12,489,870 11,637,790 Ratio of total reserves to deposit and F. R, note liabilities combined . . Contingent liability on bills purchased for foreign correspondents . . . . 79.7% 79.7% 3,212 3,587 Commitments to make industrial advances 15,726 15,859 TOTAL ASSETS liabilities F. R. notes in actual circulation . . Depositsi 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 .... 79.2$ 23,711 ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON JULY 28, 1937 (In thousands of dollars) B-801b A S S E T S Total Boston Hew York Phila. iue Gold certificates on hand and < from U. S. Treasury8,833,899 438,316 3,372,267 499,436 9,936 1,068 Redemption fund - F. R. notes 482 652 78,068 22,191 Other cash 323,657 38,223 Total reserves 9,167,492 477,021 3,451,403 522,279 Bills discountedi Secured by U.S.Gov't obligations, direct or fully guaranteed 10,316 630 4,758 1,089 Other bills discounted 4,901 50 102 2,347 CIeve. Rich. .Atlanta Chicago St.Louis Minn. Kans.Cy. : Dallas San Fran, 700,266 274,887 230,328 1,709,485 271,671 194,745 283,775 179,210 679,513 896 706 1,348 658 509 1,124 310 421 1,762 19,768 21,856 13,435 47,131 16,203 7,157 16,593 13,812 29,220 720,930 297,449 245,111 1,757,125 288,998 202,560 300,678 193,443 710,495 632 34 878 239 624 1,286 75 32 174 82 44 59 36 109 734 458 642 103 666 293 843 1,117 123 1,993 1,910 108 192 107 384 870 256 86 314 103 60 763 145 96 612 1,192 98 1,221 745 280 2,072 Total bills discounted Bills bought in open market Industrial advances U. S. Government securities> Bonds Treasury notes Treasury bills 732,508 53,385 1,162,713 84,739 630,969 45,985 210,233 61,861 333,705 98,189 181,091 53,286 71,309 38,575 32,184 113,189 61,231 51,085 61,424 33,228 27,722 Total P.S.Govt, securities 2,526,190 184,109 725,029 213,336 245,922 133,034 110,991 80,726 32,298 23,828 35,992 128,136 51,266 37,823 57,132 69,536 27,821 20,525 31,003 278,398 111,385 82,176 124,127 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets 2,566,204 188,022 222 16 32,396 356 582,875 61,049 45,572 3,029 44,769 2,699 739,124 218,693 8 6 2 2 12,265 989 l42,4l4 46,233 10,053 4,878 12,713 5,591 247,724 136,267 113,201 2 0 9 8 1,493 2,350 1,806 59,127 47,498 17,847 6,293 2,746 2,213 4,779 2,796 1,723 279,759 112,04l 83,102 124,980 101,145 222,146 2 6 4 3 6 6 16 3,687 1,933 1,113 1,442 549 4,413 80,695 24,640 16,412 34,477 22,553 29,930 4,651 2,365 1,495 3,204 1,256 3,389 4,168 1,691 1,580 1,999 1,723 3.307 TOTAL ASSETS 15,217 3,201 21,596 732 224 2,957 7,105 1,130 5,860 1,139 319 3,899 28,601 63,516 45,397 100,821 24,636 54,712 98,634 219,049 12,439,530 732,192 4,368,058 798,685 1,040,366 489,115 381,909 2,130,111 431,672 306,265 466,786 320,675 973,696 ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS Oil JULY 28, 1937 (in thousands of dollars) B-801b L I A B I L I T I E S Total Boston Hew York Fhila. Clove. Rich. Atlanta Chicago St.Louis Minn. Knns.Cy. Dallas San Fran. F.R.notes in actual circulation Deposits i Member bank - reserve account U.S.Treasurer - General account Foreign bank Other deposits 921,741 315,265 434,857 189,506 168,497 971,105 179,265 136,474 164,796 91,432 334,450 6,775,505 338,301 2,948,013 371,924 227,818 6,490 116,369 3,397 185,042 13,483 67,023 18,100 120,372 3,l4o 55^007 9,764 462,087 206,535 169,745 12,204 19,767 3,694 16,992 7,942 6,464 20,892 3,315 2,950 983,991 200,590 134,676 244,407 175,428 539,808 24,837 3,461 2,873 7,698 8,257 18,771 21,424 5,541 4,245 5,356 5,356 13,113 2,269 6,138 2,390 94 4,059 10T354 Total deposits Deferred availability items Capital paid in Surplus (Sectidn 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 7,308,737 361,414 3,186,412 403,185 589,461 60,766 139,501 46,4l4 132,407 9,382 51,095 12,254 145,854 9,826 51,474 13,362 27,490 2,874 7,744 4,325 35,871 1,570 9,117 3,000 974 6,297 880 335 512,175 237,559 182,853 1,032,521 215,730 144,187 257,555 193,100 :582,046 26,164 16,265 34,422 25,096 32,926 61,471 47,199 17,842 81,395 3,834 2,890 4,035 3,879 10,147 12,767 12,919 4,861 4,344 5,616 21,504 4,655 3,116 3,613 3,851 9,645 14,323 4,869 754 1,416 1,007 3,422 545 1,003 1,142 1,262 1,996 941 1,847 2,037 3,121 1,496 1,690 7,805 1,199 2,048 1,598 280 208 282 313 282 449 493 203 TOTAL LIABILITIES 4,193,-413 286,025 . 12,439,530 732,192 4,368,058 798,685 ]L,O4O,366 489,115 381,909 2,130,111 431,672 306,265 466,786 320,675 973,696 Contingent liability on bills purchased for foreign correspondents 3,212 Commitments to make industrial 15,726 advances 240 1,111 322 303 l4l 115 381 99 76 95 95 234 2,003 5,462 162 1,303 1,948 315 10 1,045 64 125 302 2,987 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days 15,217 12,304 3,201 208 21,596 1,149 2,526,190 38 ,628 511 271 94 27,447 774 173 656 142,926 806 2,549 792 57,736 Total Bills discounted Bills bought Industrial advances U.S.Government securities 91 days to 6 months 817 — 6 months to ? Year 2 Years to 5 Years Over 5 Years 5 — - 2,050 222,616 1 Year to 2 Years 2,972 494,785 — 5,464 236,997 • — 8,419 623,368 — — 681,687 FEDERAL RESERVE HOTE STATEMENT ON JULY 28, 1937 (In thousands of dollars) B-801b Total Boston Hew York Phila. Federal Reserve notes* Issued to F.R.bank by F„R.agent 4,523,643 328,376 1,036,880 333,097 Held by Federal Reserve bank 330,230 42,351 105,139 17,832 In actual circulation 4,193,413 286,025 921,741 315,265 Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 461,-452 199,524 186,808 996,224 188,031 142,828 176,004 99,695 384,724 26,595 10,018 18,311 25,119 8,766 6,354 11,208 8,263 50,274 434,857 189,506 168,497 971,105 179,265 136,474 164,796 91,432 334,450 Collateral held by agent as security for notes issued to bank! Gold certificates on hand and due from U. S. Treasury 4,580,632 336,000 1,040,000 335,000 Eligible paper 14,531 732 6,489 1,090 U. S. Gov't securities 20,000 Total collateral 4,615,163 336,732 1,046,489 336,090 465,500 201,000 168,000 1,020,000 190,632 145,000 178,000 102,500 399,000 666 1,120 1,871 107 202 94 ' 155 1,204 801 20,000 466,166 202,120 189,871 1,020,107 190,834 145,094 178,155 103,704 399,801
@FedFRASER