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STATEMENT FOR THE PRESS Released for publication Friday morning, July 10; not earlier. Board of Governors of the Federal Reserve System July 9, 1936 CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve bank credit outstanding during the week ended July 8, as reported by the Federal Reserve banks, was $2,4-74,000,000, an increase of $1,000,000 compared with the preceding week and a decrease of $1,000,(XX) compared with the corresponding week in 1935. On July 8 total Reserve bank credit amounted to $2,472,000,000, a decrease of $1,000,000 for the week. This decrease corresponds with decreases of $217,000,000 in Treasury cash and deposits with Federal Reserve banks and #8,000,000 in money in circulation, and an increase of $10,000,000 in monetary gold stock, offset in part by increases of $225,000,000 in member bank reserve balances and $7,000,000 in nonmember deposits and other Federal Reserve accounts. Member bank reserve balances on July 8 were estimated to be approximately $2,880,000,000 in excess of legal requirements. Relatively small changes were reported in holdings of discounted and purchased bills, industrial advances and United States Government securities. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended July 8, 1936, were as follows! since July 1 July 10 July 8 1936 1936 1935 (In millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 24 million commitments - July 8) Other Reserve bank credit TOTAL RESERVE BANK CREDIT Monetary gold stock Treasury and national bank currency Money in circulation Member.bank reserve balances Treasury cash and deposits with F.R. banks Nonmember deposits and other F.R. accounts 3 3 2/30 30 6 - 1 + 1 - 4 2 + + 2 3 2,472 10,622 2,-498 - 1 +10 1 +1,499 5 6,2-42 5,814 3,015 519 - 8 +225 -217 + 7 + 691 + 762 + 83 46 (B-801) Released for publication Friday morning, July 10,1936; not earlier. 3-S01a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (in thousands of dollars) July 8,1936 July 1,1936 July 10,1935 ASSETS Gold certificates on hand and due from U. S. Treasury Redemption fund - F. R. notes Other cash Total reserves g,106,569 12,542 271,008 8,390,119 8,106,541 12,949 266,238 8,385,728 6,226,231 22,529 241,301 6,490,061 1,438 l.gqg 3.296 3,085 29,500 2,006 2,215 4,221 3*077 29,785 3,939 2,902 6,S4l 4,687 28,175 315,673 1,494,218 620,337 2,430,228 181 315,673 1,494,218 620,337 2,430,228 181 292,Ul6 1,528,108 609,889 2,430,413 2,466,290 2,467,492 2,470,116 229 18,821 59S.237 237 20,020 678,636 637 21,863 472,720 Bank premises 48,054 4-8,051 49,849 All other assets 42,533 42,331 44,709 11,564,283 11,642,495 9,549,955 4,o4o,332 4,046,086 3,267,401 5,814,251 50o,644 60,321 202,795 6,584,011 5.5S3,131'731,016 55.192 201,277 6,576,619 5»051,797 101,588 24,930 277.526 5,455,841 Deferred availability items Capital paid in 593,077 130,988 673,759 130,947 470,026 l46,6l3 Surplus (Section 7) 1%,501 145,501 144,893 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 . i . U. S. Government securities: Bonds ...... . Treasury notes Treasury bills Total U. S. Government securities Other securities Total bills and securities . . . . Dae from foreign banks F. R. notes of other banks Uncollected items TOTiL ASSETS L I A B I L I T I E S F. R. notes in actual circulation . . Deposits: Member bank - reserve account . . . , U.S.Treasurer - General account . . . Foreign bank Other deposits Total deposits Surplus (Section 13 b) Reserve for contingencies . . . . . . . All other liabilities . . TOTAL LIABILITIES 26,513 3^»H7 9,744 11,564,283 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 79.0$ Commitments to make industrial advances 23,844 26,513 3^«H7 8.953 11,642,495 20,871 3°»7®0 13.530 9,549,955 78.9$ 74.4$ 23,870 20,850 ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS OH JULY 8, 1936 (l» thousands of dollars) B-80lb ASSETS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago Dallas i St.Louis Minn. Kans.Cy. 3 an Fran : Gold certificates on hand and due i from 0. S. Treasury : 515,961 8,106,569 519,020 3,022,871 415,354 580,334 275,362 226,134 1,740,008 242,402 177,751 228,260 163,112 : Redemption .fund - F.R.notes 1,198 1,088 994 12,542 2,097 228 656 797 912 413 2,025 451 1,683 Other cash 271,008 28,064 72,958 37,284 24,692 14,744 10,158 32,310 11,639 7,015 12,985 5,857 13,302 Total reserves 8,390,119 549,181 3,097,027 453,726 605,682 290,557 237,975 1,773,115 254,953 184,994 242,239 169,382 531,288 : BUrLp discounted » Securect 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 s Bonds Treasury notes Treasury bills Total U.S.Gov't securities Other Securities Total bills and securities Due from foreign banks F. Jl. notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 1,438 1,858 90 65 1,101 1,302 3,296 155 2,403 3,085 29,500 224 2,861 1,103 7,331 13 17 49 145 13 316 5,111 293 1,622 145 — - — — — 21 — • 66 21 — 120 3,562 108 724 384 2,113 25 6 — . — 56 50 338 10 8 31 — 56 388 18 86 1,006 86 1,632 217 1,677 87 554 61 1,307 — 315,673 21,006 1,494,218 99,429 620,337 41,278 85,802 27,431 30,629 16,628 12,776 406,145 129,844 144,977 78,707 60,474 168,614 53,905 60,189 32,676 25,106 37,553 16,876 11,249 15,968 12,155 27,600 : 177,757 79,886 53,244 75,580 57,530 130,645 73,797 33,165 22,105 31,379 23,885 54,238 2,430,228 161,713 660,561 211,180 235,795 128,011 98,356 289,107 129,927 86,598 122,927 93,570 212,483 181 — — — — — — — — — 181 — — 2,466,290 164,953 : 671,398 216,752 237,723 131,759 99,209 291,604 130,599 87,966 124,256 95,676 214,395 18 229 18,821 368 598,237 63,910 48,054 3,113 42,533 316 8 22 10 83 23 764 1,356 1,104 1,202 4,159 138,714 43,240 55,762 55,588 19,404 10,854 5,080 6,525 2,919 2,284 31,814 3,526 1,736 1,115 1,447 4 16 7 28 3 7 2,984 1,563 1,480 1,487 541 1,813 83,212 27,277 18,590 36,994 24,248 31,298 4,830 2,452 1,531 3,360 1,526 3,580 411 288 740 502 363 275 11,564,283 781,859 3,954,049 723,111 908,806 483,052 361,529 2,156,513 417,123 294,927 408,754 291,668 782,892 ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BANKS Off JULY B, I936 (I11 thousands of dollars) B-SOlc L I A B I L I T I E S Total Boston New York Phila. CIeve. F.R,notes in actual circulation Deposits: Member bank - reserve account U.S.Treasurer - General account Foreign bank Other deposits Total deposits Rich. Atlanta Chicago St .Louis Mirm. Kans.Cy, Dallas San Fran. 822,232 301,160 393,064 190,626 179,566 923,996 174,262 134,190 152,087 87,875 325,512 5,814,251 300,734 2,470,928 317,924 396,822 195,157 122,690 506,644 21,149 222,539 21,135 20,927 23,339 22,709 5,568 2,663 2,118 60,321 4,479 21,893 5,629 5,740 3,038 3,161 2,787 1,907 202,795 157,303 66,854 21,102 22,186 20,122 20,471 24,111 7,021 1,816 1,40 1,750 1,755 4,176 309 2,208 11,757 1,778 8,271 4,536 4,040,332 365,762 Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13b) Reserve for contingencies All other liabilities 6,584,011 329,149 2,872,663 346,595 429,057 224,197 150,678 1,106,117 204,144 143,657 208,071 167,261 402,422 593,077 63,355 135,382 42,227 55,283 53,535 18,015 82,437 28,620 17,869 38,778 25,534 32,042 130,988 9,367 50,976 12,284 12,649 4,705 4,237 12,06$ 3,768 2,974 3,961 3,814 10,188 145,501 9,902 50,825 13,406 14,371 5,186 5,616 21,350 4,655 3,149 3,613 3,783 9,645 26,513 2,874 7,744 4,231 1,007 3,448 754 1,391 546 1,003 1,142 1,252 1,121 34,117 1,413 8,849 3,000 3,111 1,279 2,519 7,573 894 1,456 846 1,328 1,849 9,744 37 5,378 208 264 76 144 1,584 234 629 256 821 113 TOTAL LIABILITIES 11,564,283 781,859 3,954,049 723,111 908,806 483,052 361,529 2,156,513 417,123 294,927 408,754 291,668 782,892 Conrniitaients to make industrial advances 23,844 2,771 9,412 280 1,448 2,328 288 77 1,758 91 404 538 4,449 MATURITY DISTRIBUTION OF BILLS AHD SECURITIES Total Bills discounted Bills bought Industrial advances U. S. Government securities Other securities 3,296 3,085 29,500 2,430,228 181 Within 15 days 16 to 30 days 1,681 658 23 4 1,429 26,341 664 411 27,979 31 to 60 days 48 92 623 65,536 6l to 90 days 715 2,095 757 129,459 91 days to 6 months 194 2,082 348,815 Over 6 months 24,198 1,832,098 181 FEDEML BESEKVE 1J0TE STATEMENT OH JULY S, 1936 (In thousands of dollars) B-SOld Total Boston Hew York Phila. Cleve, Federal Reserve notes: Issued to F.R. hank by 7 Jl.agent 4,345,447 386,239 Held by Federal Reserve hank 305,115 20,477 Rich., Atlanta Chicago St.Louis Minn. Hans.Cy. Dallas San Fran. 928,494 316,£98 407,572 201,522 200,2.93 960,741 106,262 15,738 14,508 10,896 20,727 36,745 184,563 10,301 4,040,332 365,762 822,232 301,160 393,064 190,626 179,566 923,996 174,262 124,190 152,087 87,875 325,512 Gold certificates on hand and due from U. S. Treasury Eligible paper U. S. Gov't securities 4,342,023 396,000 2,043 155 47,000 — 945,706 318,000 410,000 202,000 172,685 966,000 1,207 145 13 66 21 — — — — — 30,000 — 173,632 129,000 164,000 98,000 367,000 31 — 49 338 18 12,000 2,000 3,000 — — Total collateral 4,391,066 396,155 946,913 318,145 410,013 202,066 202,706 966,000 185,663 131,000 167,049 98,338 367,018 In actual circulation 129,301 166,023 96,947 366,854 5,111 13,936 9,072 41,342 Collateral held hy agent as security for notes issued to hank:
@FedFRASER