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Forra FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, July 8j not earlier. Board of Governors of the Federal Reserve System July 7* 1938 CONDITION OF FEDERAL RESERVE BANKS During the week ended July 6 member bank reserve balances increased §33*000,000. Additions to member bank reserves arose from decreases of $91**000,000 in Treasury deposits with Federal Reserve banks and $8,000,000 in nonmember deposits and other Federal Reserve accounts and increases of $13,000,000 in Reserve bank credit, 05*000,000 in gold stock and 03*000,000 in Treasury currency, offset in part by increases of $86*000,000 in money in circulation and Oil*000,000 in Treasury cash. Excess reserves of member banks on July 6 were estimated to bo approximately -'"2,990,000,000, an in crease of 090,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended July 6, 1938, were as follows: Increase or decrease since July 6 1938 June 29 1938 July 7 1937 (In millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (net including 13 million commitments - July 6) 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 Nomomber deposits and other F.R.accounts 8 1 2*561; - 2 tmmm - 5 - 3 + 38 16 lh - i + 15 - 6 + 1 2,603 12,967 2,715 + 13 + 5 + 3 + 25 +59l +163 + 33 +1,2Ì47 10 -1,208 + 669 + 81 8,071* 6,5lij 2,303 770 621* + 86 + - h 9k 8 Form FR.-283-a Released for publication Friday morning, July 8# 1938; not earlier. ASSETS AND LIABILITIES OF THE TvTELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) July 6, 1938 June 29« 1938 July 7, 1937 ASSETS Gold certificates on hand and due from U. S. Treasury ^ . Redemption fund * F. R; notes . . . 10,631*,927 9,881+ 374,414 10,635,929 9,387 406,523 8,835,406 10,399 277,661 11,019,225 11,051,839 9,123,466 14,701+ 3,251+ 6,111 3,580 7,958 9,691 9,623 3,395 13,018 537 537 16,590 3,669 21,783 71+14,105 ....... . 1,165,105 654,805 71)4,105 1 ,165,105 654,805 Total TJ. S. Government securities 2,564,015 2,564,015 732,508 1,165,713 627,969 2,526,190 Total bills and securities 2,588,871 2,590,833 2,564,660 183 183 19,505 520,057 Ii4,6l6 1)4,953 219 21,950 638,313 45,601 41,977 H+,303,512 14,271,986 12,436,186 . . 4,171;,869 4,1214,1(42 4,252,417 * i . * . 8,073,675 770,193 1314,865 227,997 9,206,730 8,040,951 863,897 138,612 227,1)41 9,270,901 6,826,707 100,937 172,325 112,381 7,212,350 8,354 521,301 133,570 147,739 27,683 32,846 13,504 625,371 132,355 145,854 27,490 35,906 4,443 14,303,512 14,271,986 12,436,186 82.59? 79.6$ Bills discounted:• Secured by U. S. Gov’t obligations^ direct or fully guaranteed • * . Other bills discounted . . . . . . Bills bought in open market • . . • Industrial advances . . . ........ U. S. Government securities: Treasury bills .... 16,361 20,252 585,567 14+,577 1)4,837 LIABILITIES F. R. notes in actual circulation Deposits: Member bank - reserve account . U.S.Treasurer•- General account Foreign bank . . . .........* Total deposits ........ 571,624 133,667 147,739 27,683 Reservo for contingencies i . . . . . All other liabilities .......... TOTAL LIABILITIES 32,81*6 Ratio of total reserves to deposit and F. R. note liabilities combined » • Contingent liability on bills purchased for foreign correspondents 1,368 1,506 4,138 Commitments to make industrial advances 13,468 13,649 16,110 82*3$ / Form FR-283-b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 6, 1938 ( In m illio n s of d o lla r s ) ASSETS Total Boston New York Phila. Gold certificates on hand and due from U. S. Treasury 10,634,927 618,443 4,397,21+4 507,658 Redemption fund - F.R. notes 9,884 1,263 994 1,854 Other cash 97,137 21,064 374,414 .37,535 Total reserves 11,019,225 656,972 4,496,235 529,985 Bills discounted: Secured by U.S.Gov't obligations, 500 2,252 621 direct or fully guaranteed 4,704 Other bills discounted 161 571 3,254 473 Total bills discounted Bills bought in open market Industrial advances U. S. Government securities: Bonds Treasury notes Treasury bills 7,958 537 16,361 661 40 2,381 210 1,192 55 4,256 2,865 2,725 Cleve» Rich* Atlanta 751,299 325,866 241,605 2,231,480 335,963 235,166 287,942 207,941 718,771 289 209 498 49 771 304 383 687 23 1,499 195 557 125 — 20 60 32 94 170 43 60 200 263 376 752 19 80 2 136 126 2 1,185 213 16 422 260 118 125 67 558 639 38 1,345 80,919 126,703 71,209 278,831 279,581 114,629 74,743 119,282 Total U.S.Gov’t securities 780,147 230,771 69,728 36,921 32,270 109,176 57,812 50,528 61,358 32,491 28,398 240,262 127,224 111,196 Total bills and securities 2,588,871 199,285 787,338 234,883 241,580 129,433 112,085 Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 183 20,252 585,567 44,577 44,837 14 342 53,563 2,973 2,888 226,407 66,972 354,504 ic4,864 199,236 58,935 70 3,023 143,427 9,874 13,466 18 629 39,619 4,762 4,470 San Fran. 721,234 303,446 220,467 2,180,168 319,561 225,713 264,008 191,736 685,249 846 292 442 356 613 1,163 255 1,431 375 8,607 23,679 15*849 32,359 28,634 21,807 20,846 50,937 15,960 1 ,165,105 89,155 654,805 50,106 2,564,015 196,203 744,105 56,942 Chicago St.Louis Minn. Kans.Cy. Dallas 17 1,216 63,260 6,138 4,781 8 6 2,012 2,071 53,335 21,895 2,098 2,66l 2,798 2,078 16 825 33,203 21,310 34,429 24,657 60,347 51*989 33,367 53,906 38,608 94,493 29,219 18,753 30,296 21,698 53,106 114,411 73,430 118,631 84,963 207,946 86,064 209,968 2 22 13 3 5 5 1,468 1,736 2,532 1,967 543 2,711 75,624 26,780 17,080 31,369 24,870 34,745 4,528 2,316 1,540 3,121 1,271 3,295 1,850 1,400 3,745 4,223 1,731 1,407 14,303,512 916,037 5,453*433 814,366 1,068,293 516,172 381,779 2,597,990 483,389 331,674 ¿+45,037 322,094 973,248 Form FR-283-c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON JULY 6, 1938 (In thousands of dollars) L IA B I L I T I E S Total Boston New York Phila. F.R.notes in actual circulation ¿1«174* 869 360,011 913*591 303*062 Deposits: Member bank — reserve account 8,073*675 1427,129 3*783*408 387*328 U.S.Treasurer - General account 770,193 37*900 272,215 38,634 Foreign bank 134*865 9*713 48,395 13,220 Other deposits 227*997 4*134 177.994 1*683 Total deposits 9*206,730 478,876 4*282,012 440,865 Deferred availability items 571*624 52*879 136,871; 37*667 Capital paid in 9*408 133*667 50,955 12,245 Surplus (Section 7) 147*739 9*900 51*943 13,466 Surplus (Section 13 b) 27*683 2,874 7*744- 4*411 Reserve for contingencies 32,846 8,210 2,000 1,448 All other liabilities 650 2,104 64i 8*354 Cleve. Rich# Atlanta 400,024 192,226 141*556 Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, 966,801 174*398 1 3l+*658 161+,543 77*118 338,601 4.74*309 210,530 161,888 1,355*111 239*952 121,527 136,889 19*956 43*923 69*069 38,889 35*541 12,411 5*800 4*721 1+,q47 3*103 16,053 6,829 2,559 9*973 3*126 4-*i43 1*713 565,762 258,345 206,293 1*509*766 270,784 171*112 76,211 27,532 16,410 61,858 50,500 20,918 13*202 3,908 2,907 13*369 4*955 4*449 22,387 4*667 3*153 14,323 4*964 5*626 730 545 1*001 1*007 3*409 1*429 1*908 1*603 3,177 1*401 7*171+ 1,215 1,020 340 525 6o4 773 372 220,357 163*592 528,544 13*684 37*749 25*744 9*578 3*912 3*912 530 2,652 12,661 238,483 207,905 576,527 31*770 25*897 33*108 3*942 10,164 4*163 9*805 3*613 3*892 1,270 2,121 1*142 2,000 934 1*776 642 294 389 TOTAL LIABILITIES 14*3.03,512 916*037! 5*453*433 014*366 1,068,293 516,172 381,779 2,597*990 483*389 331*674 41+5*037 322,C94 973*248 Contingent liability on bills purchased 40 1+0 for foreign correspondents 97 1*368 126 59 48 98 163 41 31 491 134 Commitments to make industrial advances 381 3*096 611 238 13*468 21+ 130 91 183 1,483 1*857 1*417 3*957 MATURITY DISTRIBUTIOH OF BILLS AND SECURITIES Within Bills discounted Bills bought Industrial advances U. S. Government securities Total 15 days 7*958 537 16,361 2,564,015 6,286 107 1*269 118,893 l6 to 30 days 247 216 305 81,361 31 to 60 days 6l to 90 days 527 503 181,285 131 1,034 215,480 83 229 91 days to 6 months 389 — 2,151+ 100,571 6 months to 1 Year 1 Year to 2 Years 2 Years to 5 Years Over 5 Years 6 — 2,735 168,763 mm mm 6,443 453*645 — 2,192 579*257 wmmm — 66i;,750 Form FR-283-â FEDgRAL RESERVE NOTE STATEMENT ON JULY 6, 1938 (In thousands of dollars) Total Federal Reserve notes: Issued to F.R.bank b y F.R.agent Held by Federal Reserve bank In actual circulation Boston New York Phila* Clavo. Rich* Atlanta Chicago St.Louis Minn« Kans.Cy. Dallas San Fran« 4,458,193 381,071 1,005,11^4 316,216 283,324 21,060 91,553 13,154 429,929 200,209 155,743 1,006,080 187,578 139,316 174*326 21,905 7*983 l4,l87 39,279 13*180 4,658 9,783 4,174*869 360,011 408,024 192,226 141,556 913,591 303*062 83,822 378,759 6,704 39,878 966,801 174,398 134,658 164,543 77,118 338,881 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 collatoral 4,543,632 390,000 1,010,000 337,000 6,986 631 830 2,577 4,550,618 390,631 1,012,577 337,830 432,000 202,000 159,000 1,010,000 192,632 141,500 177,000 88,500 40^,000 260 634 323 578 698 125 20 106 2C4 432,323 202,578 159*698 1 ,010,125 192,652 141,606 177,204 88,760 4a4*&54
@FedFRASER