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STATEMENT FOR THE PRESS Released for publication Friday morning, July 6; not earlier # B-S01 Federal Reserve Board July 5, 193U. COEDITIOH OF FEDERAL RESERVE BANES The daily average vol-ume of Federal Reserve bank credit outstanding during tlie week ended July 3> ^s reported "by the Federal Reserve "banks*was $2,^72,000,000, an increase of $1+,000,000 compared with the preceding week and of $2^7,000,000 conxpared with the corresponding week in 1933* On July 3 total Reserve bank credit amounted to $2,^88,000,000, an increase of $23,000,000 for the week. This increase corresponds with increases of $96,000,000 in money in circulation and $36,000,000 in Treasury cash and deposits with Federal Reserve banks, offset in part by a decrease of $91,000,000 in member bank reserve balances and an increase of $20,000,000 in monetary gold stock* Bills disco-unted increased $5,000,000 at the Federal Reserve Bank of San Francisco and $2,000,000 at all Federal Reserve banks. Holdings of United States Treasury notes increased $3,000,000, while holdings of United States bonds declined $1,000,000. As the Federal Reserve banks have heretofore set aside reserves with respect to the federal Deposit Insurance Corporation stock held by them equal to the full par amount thereof, the amounts of such stock and of the reserves thereon are not included in the condition statement figures for the current week. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended July 3> were as follows: Increase or decrease since July 3 193^ June 27 19 3*+ July 5 1933 (In millions of dollars) Bills Bills U . S. Other discounted. bought Government securities Reserve "bank: credit +2 -153 -18 29 5 2,^32 22 + 2 +19 +U37 +16 TOTAL RESERVE BANK CREDIT Monetary gold stock Treasury and National bank currency 2,^88 7,866 2,365 +20 + 1 +23 +282 +3,835 +80 Money in circulation Member bank reserve balances Treasury cash and deposits with P.It.banks Nonraember deposits and other F.R.accounts 5.397 3.7^ 3.113 +96 -68 +1,527 +2,782 1*62 — -91 +36 + 1 Released, for publication Friday morning, July 6,193^*, n o t earlier. B-SOla ASSETS AND LIABILITIES 1 OS THE TWELVE EEDEHAL RESERVE BANKS COMBINED (In thousands of dollars) July 3.1934 June 27.1934 July 5,19' 4,781,748 A S S E T S Gold certificates on hand and due from U . S . Treasury Gold Redemption fund ~ F . R . notes Other cash . Total reserves . Redemption fund ~ F . R . "bank notes . Bills discounted: Sec. by U.S.Government obligations. Other bills discounted Total bills discounted . . . Bills bought in open market U . S . Government securities: Bonds Treasury notes . Certificates and bills 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 Fed. Dep. Ins. Corp. stock All other assets . . 25,231 211,60s 5,019,523 MS7 24,972 237,803 5,044,523 ^,335 966,234 2,538,541 44,317 255,^59 3,804,551 8,014 . . . . 4,571 24.417 28,98S 5.317 6,732 20.283 27,015 5,215 ^3,335 138.468 181,803 23,084 467,807 1,221,884 7^2,099 2,431,790 512 2,466,607 3,129 15,535 478,866 5gv622 440,779 697,51^ 856.965 1,995,258 2,297 2,202,442 3,729 15,4l6 357,321 54,366 47,277 8,087,856 469,253 1,219,172 74i,849_ 2,430,274 519 2,463,023 3,129 20,517 435,509 52,630 139", 299 46,206 8,209,171 3,121,703 44,852 3.055,99^ 46,347 3,H5.331 124,012 3,7^5,739 152,150 4,530 227.241 4,129,660 460,997 147,121 138,383 3.S36.536 134,396 5,767 219.281 4,195,9^0 436,342 147,129 13S.383 2,218,912 67,965 15,984 1^7,863 2,450,724 357,504 146,796 278,599 161,834 12,179 — — . . . . . . TOTAL ASSETS — — 51,163 6,497,002 L I A B I L I T I E S F . R . notes in actual circulation . . . F # R , bank note circulation - net . Deposits: Member bank - reserve account . . . . U.S*Treasurer-General account . . . • Foreign bank Other deposits . Total deposits . . . . . . Deferred availability items Capital paid in Surplus Reserves (F.D.I.C. stock, self insurance, etc.) 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 — 22,540 22,600 8,087.856 69.2$ 1,450 — 27.162 8,209,171 69.656 1,7^0 11,857 6,497,002 68.4$ 36,140 ASSETS AHD LIABILITIES OP THE FEDERAL RESERVE BANKS ON JULY 3, 193^ (in thousands of dollars) A S S E T S Total Boston New York Phila. Gleve. Gold certificates on hand and 1+,7S2,6S^ 1+10,565 1,529,^20 298,632 366,0^8 due from U.S. Treasury 25,231 2,085 1,601 2,606 3,051 Redemption fund - F.E. notes 211,608 15,3^5 53,9^2 3^,316 11,899 Other cash Total reserves 5,019,523 ^27,995 1,52^,969 335155*+ 320,998 Redemption fund - F.R.baiib: notes 250 85s 4,187 1.890 715 Bills discounted: 183 Sec, by U.S. Govt, obligations 276 4,571 2,735 1,002 540 Other bills discounted 24,417 31s 10,942 5.170 Total bills discounted Eills bought in open market U . S. Government securities: Bonds Treasury notes Certificates and bills Total U.S.Govt, securities Other securities Total bills and securities Dae from foreign banks P.R.notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 28,988 5.317 594 371 13.677 2,054 467,807 1,221,884 742,099 2,431,790 27,226 so,64s 166,173 387.H6H 226,61s 720,255 512 4?,S05 157,679 - 2,1+66,607 158,61+1+ 3,129 237 364 15,585 1+78,866 51, b88 52,682 3,221+ 812 47,277 35 Rich. Atlanta Minn. Kans.Cy. Dallas San Fran. 169,31+3 132,61+3 1,026,91+5 17S,66S 103,197 172,982 104,646 289,595 2,081 3,1*56 2,11+3 959 1,161 1,000 55^ 4,534 6,795 11,676 29,158 9,587 11,982 10.2*15 5,392 11.265 178,219 1^7,775 1,058,246 189,21*+ 116,340 i8i+,227 110,592 305,394 U7I+ — — — — 125 502 360 723 1+87 627 193 369 17s 30,022 36,000 85,11+9 109,1+38 51,91+9 S7.5S7 167,120 213,025 17.500 53.20H 32,859 103,563 1+5,8U0 28,305 89,249 6,172 536 Chicago St.Louis B-801b 9 15',IO4 — — — 203 203 61+9 95 76 20 15 180 31 1+11 80 5.147 171 121 388 81+ 195 142 1+1+2 li+2 5,427 360 76,501 218,557 135,785 430,843 16,166 1+7,621+ 29.1+10 93,200 17,348 29,838 18.1+20 65,606 17,272 1+7,089 29,083 93,W4 20,388 31.582 19,505 71,1175 28,107 85,1+51 52,773 166,331 ^77 796,021 174,305 211+.235 104,383 89.796 1,193 342 300 119 109 5,51+7 1+07 l,ll+l 906 737 128,673 36,763 1+9,320 1+6,371 15.735 11,1+1+9 1+,215 6,788 3,128 2,372 30,569 5/420 i,46o i,si+3 2,1+12 431,695 93,492 66,078 93,781 72,059 172,11s 1+11+ 10 88 88 222 7 632 936 1,030 332 1,358 2,195 50,877 21,397 12,586 27,679 18,655 13s122 7,387 3,124 1,664 3,485 1,757 4,089 2S9 1,105 619 9S5 530 1,233 8,087,856 643,214 2,560,311 557,864 654,957 3 3 ^ 9 6 9 258,936 1,552,0^7 308,158 198,716 310,220 204,942 502,922 ASSETS A M ) LIABILITIES OF THE FEDERAL RESERVE B A M S OH JULY 3 , 193*4 (In thousands of dollars) L I A B I L I T I E S Total F.R.notes in actual circulation F.R.bank note circulation r net Deposits: Member tanIt - reserve account U.S.Treasurer-General account Foreign bank other deposits Total deposits Deferred availability items Capital paid in Surplus Reserves (F.D.I.C. stock, self insurance, etc. Reserve for contingencies All other liabilities Boston Hew York 3,121,703 247,067 44,852 72S Phila. Cleve. Rich. Atlanta Chicago St.Louis 3-S01c Minn. Kans.Cy. Dallas San Fran. 663,573 251,850 311,296 143,258 135,395 35,163 4,655 4,306 — — 77^.9^3 132,9S0 ~ 97,330 110,102 3,745,739 302,495 1,^73.3^3 213,985 235,957 126,982 83,898 152,150 17,616 10,202 8,786 17,355 500 3,826 4,530 352 1,331 509 470 186 171 227,241 3,161 142,173 11,490 7,569 8,170 7,333 4,129,660 323,624 1,627,049 234,770 261,351 135,833 95,22s 460,997 49,829 108,730 34,765 48,449 44,465 15.373 147,121 10,769 60,269 15,395 12,705 ^,96o 4,405 652,304 104,474 19.125 24,374 6l6 l6l 4,448 15,373 676,493 144,382 61,521 20,892 68,000 140,582 113,684 230,035 6,250 20,679 19,322 4,115 113 137 137 347 138,3S3 9,610 45,217 13,352 14,090 5,171 — 22,540 §2,600 — 1,053 534 — 4,737 15.573 — 2,300 :*4o0 — 1,155 122 2,560,311 557,864 654,957 334,969 TOTAL LIABILITIES 8,087,856 643,214 Ratio of total reserves to deposit and F.R.note liabilities combined 69.2 75.0 Contingent liability on bills purchased for foreign correspondents 1,450 110 69.2 453 — 2,500 577 69.O 159 66.5 l46 2 5,145 12,613 20,681 4,030 4,756 — .5S1 309 — 2,969 2,787 853 265 6,768 81,131 12,505 3,049 4l,071 212,290 4,256 1,267 15.233 165,654 134,410 249,730 26,612 3.420 4,150 3,613 1,026 247 617 72 19,109 3,994 3,683 1,130 1,545 18,747 10,782 9,645 l,6l9 109 258,936 1,552,047 303,158 198,716 310,820 204„942 502,922 63.9 63.9 58 72.9 53 65.2 68.2 192 50 66.8 35 63.Q 43 66.1 43 108 MATURITY DISTRIBUTION OF BILLS AHD SHORT TERM SECURITIES Total Bills discounted Bills bought in open market Certificates and bills Municipal warrants 28,988 5,317 742,099 512 Within 15 days 20,630 520 33,225 477 16 to 30 days 2.003 2,b75 16,999 31 to 60 days 1,550 767 100,259 35 6l to 90 days 91 days to 6 months 4,544 1.355 257 102,222 489,394 Over 6 months 4 1 FEDERAL RESERVE NOTE STATEMENT ON JULY 3, 19 3 * (In thousands of dollars) Total Federal Reserve notes: Issued to F.R.bank by F.R.Agent Held by Federal Reserve bank Boston 3,376,193 270*321 25^90 23.75U In actual circulation 3,121,703 21+7,067 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S.Treasury 3,093,656 276,117 18,071 50U Eligible paper U . S . Govt, securities To tal collateral 3,1*16,727 276,621 New York Phila. Cleve. Rich. Atlanta B-S01d Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 755.733 265,23!+ 324,sUi 150,933 15*1,617 92,210 13,5^5 7,730 18,722 663,573 251,350 311.296 1^3,253 135.S95 307,376 137,31+S 100,915 116,513 1+5,66H 21+6,01*3 132,930 97.33S 110,102 1*1,071 212,290 753,706 239,000 26U.931 117,3)40 96,335 3,017 2,027 723 U05 311 25,000 60.000 3^.000 60.000 73U,513 126,936 30,000 102 22.000 106,290 U6,675 201,763 761,723 266,027 325,65!* 151.7^5 156,696 311*,603 139,039 102,102 113,331* 32,393 77^.933 3.577 95 ^0.000 103 12.000 6,1*11 94 12.000 i*,593 1*1*2 — 33.753 5,21+3 50.000 1*7.117 257,011 FEDERAL RESERVE BASS NOTE STATEMENT ON JULY 3, 193I+ (In thousands of dollars) Federal Reserve tank notes: Issued to F.E.baEk(outstanding) Held "by Federal Reserve bank In circulation - net* Total Boston 53,735 13,933 New York Phi la. Cleve. 1,511 733 36,531* 1,371 16,035 11,330 1*,705 399 1*1+, 852 723 35,163 I+,655 U,30S 63.1*71+ 5.000 5,000 ^6.971* i6fsoo 36,97^ 16,500 5,QQQ 5,000 Rich. Atlanta — -- Chioago St.Louis Minn. Kans.Cy. Dallas San Fran. - Collateral pledged against' outstanding notes: Discounted and -ourchased bills U.S.Govt, securities TotaJL collateral 63,^ *Does not include $97,1*1+3,000 of Federal Reserve bank notes for the retirement of which Federal Reserve banks have deposited lawful money with the Treasurer of the United States.
@FedFRASER