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STATEMENT FOR THE PRESS Released for publication Friday morning, June 18; not earlier* Board of Governors of the Federal Reserve System June 17, 1937. CONDITION OF FEDERAL RESERVE BANKS During the week ended June 16 member bank reserve balances decreased $121,000,000* The reduction in member bank reserves resulted from an increase of $165,000,000 in Treasury deposits with the Federal Reserve banks, offset in part by an increase of $10,000,000 in Reserve bank credit and decreases of $20,000,000 in money in circulation, $8,000,000 in Treasury cash other than inactive gold and $4,000,000 in nonmember deposits and other Federal Reserve accounts# Excess reserves of member banks on June 16 were estimated to be approximately $750,000,000, a decrease of $180,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to $988,000,000 on June 16, an increase of $102,000,000 for the week. Principal changes in holdings of bills and securities were an increase of $1-4,000,000 in United States Treasury notes and a decrease of $14,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended June 16, 1937, were as followsI Increase or decrease since June 16 1937 June 9 1937 June 17 1936 (in millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 17 million commitments - June 16) Other Reserve bank credit Total Reserve bank credit Gold stock Treasury currency Member bank reserve balances Money in circulation Treasury cash Treasury deposits m t h F. R. banks Nonmember deposits and other F. R, accounts 1-4 5 2,526 — -1 +7 +2 +96 +12 -8 +6 2,583 12,220 2,5-48 +10 +102 +1 +103 +1,677 +58 6,808 6,415 3,348 250 530 -121 -20 +94 +165 -4 +1,914 +367 + 74l -1,171 -13 22 16 — (B-801) Released for publication Friday morning, June 18,1937? not earlier B-801a ASSETS m LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) June 16, 1937 June 9, 1937 June 17,1936 8,837,903 9,860 313 % 595 9,161,358 *8,838,405 9,971 305,738 *9,154,114 7,938,539 12,518 276,269 8,227,326 11,521 2,807 l4,32S 5,094 22,049 11,006 22,196 4,177 2,362 6,539 3,076 30,058 732,608 1,166,213 627,469 2,526,290 — 2,567,761 219 21,277 866,372 45,700 40,243 732,608 1,152,213 641,469 2,526,290 315,697 1,494,219 620,337 2,430,253 2,568,599 226 22,025 595,266 45,687 49,199 2,470,107 238 24,037 696,106 48,052 38,196 12,702,930 *12,435,116 11,504,062 4,177,805 *4,200,965 3,872,984 6,807,978 250,212 147,4-50 119,479 7,325,119 g51 q89 ^ 2 240 145*854 27*490 35 931 7*402 6,928,977 84,642 139,671 139,470 7,292,760 591,267 132,196 145,854 27,490 35,940 8,644 4,893,667 1,421,457 60,378 221,584 6,597,086 686,625 130,813 145,501 26,513 34,111 10,429 12,702,930 *12,435,116 11,504,062 A S S E T S Gold certificates on hand and due from U. S. Treasury Redemption fund - F. R. notes Other cash • • • Total reserves Bills discoimtedi Secured by U»S.Govlt 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 • • Other securities • Total bills and securities Due from foreign banks F. R. notes of other banks . . . . . . Uncollected items Bank premises . All other assets . . • . TOTAL ASSETS 3,289 14,295 5,818 181 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 Deferred availability items Capital paid in • Surplus I 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 79.6% 79.6% 3,745 2,532 16,801 16,956 *Revised. 78.6% 24,679 ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JUNE-16, 1937 (in thousands of dollars) B-801b ASSETS Total Boston Hew York Phila. Gold certificates on hand and due from U. S. Treasury 8,837,903 456,501 3,269,758 517,516 769 443 Redemption fund - F. R. notes 9,860 624 89,428 2.3,847 Other cash 313,595 40,693 9,161,358 497,818 3,359,955 541,806 Total reserves Bills discountedt Secured by U.S.Gov't obligations, 850 1,402 11,521 direct or fully guaranteed 5,033 4 1,570 111 2,807 Other bills discounted Total bills discounted Bills bought in open market Industrial advances U. S.Government securities1 Bonds Treasury notes Treasury bills 14,328 5,094 22,049 961 223 3,154 6,603 1,758 5,922 1,406 394 3,988 Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 693,906 281,014 243,224 1,770,731 277,792 195,187 279,467 189,125 663,682 704 738 1,556 364 1,216 702 395 477 1,872 15,672 20,654 :2,318 40,546 16,952 5,234 16,749 6,032 25,470 710,282 302,406 257,098 l,8ll,64l 295,960 201,123 296,611 195,634 691,024 762 -T 762 374 899 743 — 743 149 2,030 205 230 72 36 '8 75 150 197 236 544 158 1,942 109 215 205 424 918 302 92 324 44 69 788 225 114 630 433 112 1,261 702 1,276 1,920 1,444 498 — 32,298 23,828 35,992 28,601 63,516 51,42a 37,937 57,304 45,533 101,125 27,666 20,411 30,831 24,500 54,408 732,608 53,385 1,166,213 84,994 627,469 45,7.30 210,233 61,861 334,709 98,485 180,087 52,990 71,309 38,575 32,284 113,529 61,415 51,239 61,084 33,04*' 27,568 80,726 128,522 69,150 Total U.S.Gov't securities 2,526,290 184,109 725,029 213,336 245,922 133,034 111,091 278,398 111,385 82,176 124,127 Total bills and securities 2,567,761 188,447 739,312 219,124 247,957 135,956 113,357 279,945 112,103 83,077 125,096 100,440 222,947 78 , 23 768 5,729 205,574 75,665 4,899 10,069 5,011 11,495 8 ID 21 1,298 1,865 2,033 99,854 69,101 28,117 6,306 2,764 2,219 1,566 2,549 4,335 Due from foreign banks F.R. notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 219 17 350 21,277 866,372 84,286 45,700 3,033 40,243 2,421 27 2,503 131,746 4,661 3,665 4 1,377 35,457 2,370 1,505 98,634 219,049 6 6 3 461 1,214 1,206 21,867 39,002 30,849 3,217 1,259 1,497 1,428 1,765 1,563 16 2,473 44,854 3,406 2,940 12,702,930 776,372 4,332,212 847,296 1,070,053 514,819 4o4,230 2,234,188 448,776 310,201 466,911 330,212 967,660 ASSETS AND LIABILITIES OF THE FEDERAL RESERVE B A M S 015 JUNE 16, 1937 (In thousands of dollars) B-801b L I A B I L I T I E S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation A,177,805 290,718 909,872 312,946 DepositsI Member bank - reserve account 6,807,978 330,037 2,975,037 372,4-30 U.S.Treasurer - General account 250,212 3-4,312 32,037 25,171 Foreign bank 1-47,450 10,699 53,800 14,363 Other deposits 9,488 2,282 119,479 52,113 -455,784 218,320 174,782 1,006,707 203*985 130,822 238,34-7 181,382 520,345 20,155 14,175 4,768 63,843 6,314 5,354 12,592 4,532 26,959 13,483 6,302 5,129 17,000 4,397 3,371 4,250 4,250 10,406 23,050 3,268 3,437 1,821 6,776 2,147 234 3,463 11,400 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 512,472 242,065 188,116 1,089,371 221,472 141,694 255,423 193,627 569,110 96,208 66,857 28,241 133,202 38,496 21,156 39,462 34,202 41,901 3,995 3,864 10,113 12;875 4,855 4,327 12,631 3,813 2,897 9,645 3,613 3,851 14,323 4,869 5,616 21,504 4,655 3,116 1,142 1,262 1,996 1,007 3,422 754 l,4l6 545 1,003 941 2,037 1,847 3,121 1,497 1,690 7,832 1,199 2,055 286 510 223 631 4ll 325 1,360 300 332 TOTAL LIABILITIES 7,325,119 377,330 3,112,987 851,089 84,199 187,774 132,240 9,374 51,257 145,854 9,826 51,474 27,490 2,874 7,744 35,931 1,570 9,142 7,402 481 1,962 429,416 190,843 175,161 421,452 79,391 12,239 13,362 4,325 3,000 581 966,872 178,296 137,948 162,04-9 51,336 332,348 12,702,930 776,372 4,332,212 847,296 1,070,053 514,819 404,230 2,234,188 448,776 310,201 466,911 330,212 967,660 Contingent liability on bills purchased for foreign correspondents 3,745 Commitments to make industrial advance s 16,801 258 1,487 346 325 152 124 4l0 106 81 102 103 251 2,194 5,898 155 1,322 2,011 345 10 1,145 65 128 302 3,226 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted Bills bought Industrial advances U.S.Government securities 14,328 5,094 22,049 2,526,290 mthin 15 days 12,663 3,098 903 44,151 16 to 30 days 474 233 135 32,247 31 to 60 days 437 647 920 76,689 61 to 90 days 91 days to 6 months 397 354 687 58,493 307,828 1,116 1,826 6 months to 1 Year 2,537 464,330 1 Year to 2 Years 6,224 252,497 2 Years to 5 Years Over 5 Years 8,817 608,368 681,687 FEDERAL RESERVE NOTE STATEMENT ON JUNE 16, 1937 (In thousands of dollars) B-801b Total Boston New York Phila. Federal Reserve notes: Issued to F.R.bank by F.R.agent 4,505,873 331,867 1,011,746 328,984 Held by Federal Reserve bank 328,068 4l,l49 101,874 16,038 In actual circulation 4,177,805 290,718 909,872 312,946 Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 457,943 301,516 191,638 28,527 10,673 16,477 999,881 188,114 142,845 172,166 101,340 377,833 33,009 9,818 4,897 10,117 10,004 45,485 429,4l6 190,843 175,161 966,872 178,296 137,943 162,049 91,336 332,348 Collateral held by agent as security for notes issued to bank* Gold certificates on hand and due from U. S. Treasury Eligible paper U. S„ Gov't securities Total collateral 4,544,632 341,000 1,020,000 335,000 15,634 961 6,659 1,478 20,000 — — — 459,500 203,000 178,000 1,010,000 189,632 143,000 174,000 102,500 389,000 254 1,944 208 ,758 844 772 458 245 53 4,580,266 341,961 1,026,659 336,478 460,344 20,000 203,772 199,944 1,010,245 189,S4o 143,053 174,254 102,958 390,758
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