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Form FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, June 3j not earlier. Board of Governors of the Federal Reserve System June 2, 1938. CONDITION OF FEDERAL RESERVE BANKS During the week ended June 1 member bank reserve balances increased #29,000,000. Additions to member bank reserves arose from a decrease of •190,000,000 in Treasury deposits with Federal Reserve banks and increases of #10,000,000 in Reserve bank credit, $13,000,000 in gold stock and $2,000,000 in Treasury currency, offset in part by increases of $76,000,000 in money in circulation, $6,000,000 in Treasury cash and $5,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on June 1 were estimated to be approximately $2,640,000,000, an increase of $10,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended June 1, 1938, were as followsi Increase or decrease since June 1 1938 May 25 1938 June 2 1937 (In millions of dollars) Bills discounted 8 Bills bought 1 U.S. Government securities 2,564 Industrial, advances(not including 13 million commitments - June l) 17 Other Reserve bank credit 3 Total Reserve bank credit Gold stock Treasury currency Member bank reserve balances Money in circulation Treasury cash Treasury deposits v&th F. R. banks Nonmenber deposits and other F. R, accounts -1 _ - — — _ — -9 -5 +38 +10 -5 +2 2,593 12,918 2,703 +10 +13 +2 +20 +891 +155 7,745 6,469 2,254 1,093 653 +29 +76 +6 -90 +5 +891 -18 -928 +978 +142 Form FR-283-a Released for publication Friday morning, June 3, 193&J not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) June 1. 1938 May 25.1938 June 2. 1937 10,638,900 8,186 389,350 11,036/36 10,639/17 8,881 411.903 11,060,201 8,838,401 11,341 272.695 9,122/37 5/79 2.935 8/l4 53* 16,818 5,661 3,007 8,668 534 16,771 12,524 4,961 17,485 6,261 22,232 657,253 1,191,905 714.857 2,564,015 657,253 1,191,905 714,857 2,564,015 732,608 1,152,213 64l,469 2,526,290 2,589,781 186 18,742 582,086 44,64l 48.070 2,589,988 186 20,427 527,851 44,695 47,547 2,572,268 226 18,847 646,056 45,685 47,853. 14,319,942 14,290,895 12,453,372 4,157,156 4,116,875 4,235,114 7,744,949 1,092,819 130,200 262.794 9,230,762 578,995 133,582 147,739 27,683 32,880 11.145 7,716,352 1,182,761 133,118 ..251*844 9,286,075 534,887 133,575 147,739 27,683 32,880 11.181 6,853,710 115,099 121,749 .111*705 7,224,263 645,317 132,198 145,854 27,490 35,940 7.196 14,319,942 14,290,895 12/53,372 ASSETS Gold certificates on hand and due from U. S. Treasury...... . . • • • Redemption fund - F. R. notes . . Other cash . . . . . . . . . . . . • • • • Bills discounted» Secured by U.S.Gov’t obligations,direct or fully guaranteed ........ • Other bills discounted . . . . . •• • • • Industrial advances . . . . . . . • • • U. S. Government securities« Treasury bills ............ Total U.S. Government securities • • * • • • Total bills and securities . . . . . . Due from foreign banks ........ . . . F. R. notes of other banks ......... Uncollected items • ........... . . Bank premises • • • • ............ All other assets.............. . . TOTAL ASSETS ............ / LIABILITIES 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 (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 pur chased for foreign correspondents . . . 82*4$ 1,530 1,460 1,532 Commitments to make industrial advances 13,i4o 13,260 17,018 82.5$ 79.6% Form FR-283-tB ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JUNE 1, 1938 (in thousands of dollars) A S S E T S Total Boston New York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S. Treasury 10,638,900 567,238 4,659,5*4 521,l4l Redemption fund - F.R.notes 8,186 91 1,330 1,501 Other cash 389,350 37,448 83,485 23,658 715,347 300,391 216,522 2,019,367 305,884 190,065 266,089 178,785 698,527 605 354 429 571 510 868 290 38O 1,257 36,336 29,603 19,570 54,633 18,492 9,166 28,701 14,493 33,765 11 ,036,436 604,777 4,744,359 546,300 752,288 330,348 236,521 2,074,571 324,886 200,099 295,080 193,658 733,549 Total reserves Bills discounted* 633 191 1,777 334 940 580 433 178 4l0 312 320 469 190 10 70 10 120 62 14 235 204 268 368 286 Total bills discounted 8,4l4 824 Bills bought in open market 4o 534 Industrial advances 16,818 2,364 U. S. Government securities* Bonds 657,253 47,412 Treasury notes 1,191,905 85,982 Treasury bills 714,857 51,568 2,111 209 4,343 1,520 55 3,o4o 611 49 891 722 23 1,548 789 19 69 200 66 673 80 3 158 182 2 1,081 249 15 467 472 15 864 654 38 1,320 191,191 53,966 346,716 97,866 207,948 58,696 63,027 35,882 28,560 114,299 65,070 51,793 68,551 39,027 31,063 71,067 30,561 22,654 31,947 24,937 56,049 128,877 55,420 41,081 57,934 45,223 101,644 77,295 33,239 24,640 34,746 27,123 60,961 Total U,S. Gov!t securities 2,564,015 184,962 745,855 210,528 245,877 139,979 111,416 277,239 119,220 88,375 124,627 97,283 218,654 Total bills and securities 2,589,781 188,190 186 14 Due from foreign banks 18,742 F. R, notes of other banks 336 582,086 57,290 Uncollected items 44,64l 2,978 Bank premises 48,070 2,984 All other assets 752,518 215,143 71 19 3 ,448 620 147,144 44,715 9,890 4,773 13,977 4,467 247,428 142,272 112,2.93 8 7 17 1,185 1,581 1,468 62,473 48,452 19,612 6,151 2,667 2,101 5,178 3,117 2,187 278,178 119,461 89,640 125,358 98,634 220,666 2 2 5 5 23 13 362 2,370 2,962 1,826 1,320 1,264 78,452 25,110 15,556 30,788 23,528 28,966 4,538 2,320 1,517 3,126 1,277 3,303 4,142 4,473 1,997 1,724 2,084 1,740 direct or fully guaranteed Other bills discounted TOTAL ASSETS 5,479 2,935 14,319,942 856,569 5,671,407 816,037 1,074,720 528,445 374,189 2,443,197 475,602 309,858 457,705 319,204 993,009 Form FR-283-c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS 0» JUNE 1, 1938 (in thousands of dollars) LIABILITIES Total Boston New York Phila, Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation -4,157,156 356,298 911,857 302,633 Deposits» Member bank - reserve account 7,744-,9-49 363,367 3,708,633 373,046 U.S.Treasurer - General account 1/)92,819 4l,347 524,017 4-9,059 Foreign bank 130,200 9,378 46,709 12 ,765 Other deposits 262,794 4,832 213,320 1,088 408,152 187,550 144,166 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 572,511 278,028 198,917 1,353,589 261,623 151,045 251,918 205,554 610,016 79,300 26,675 14,164 31,554 24,732 29,791 61,149 47,689 18,025 13,368 4,950 4,445 13,147 3,903 2,903 4,147 3,944 10,149 22,387 4,667 3,153 3,613 3,892 9,805 14,323 4,964 5,626 545 1,001 1,142 1,270 2,121 730 1,429 1,007 3,409 7,201 1,215 1,915 934 1,776 2,000 3,177 1,401 1,603 541 454 367 1,238 467 677 409 833 1,033 TOTAL LIABILITIES for foreign correspondents Commitments to make industrial advances 9,230,762 418,924 4,,492,679 435,958 578,995 56,883 144,884 44,149 133,582 9,405 50,961 12,260 147,739 9,900 51,943 13,466 7,744 4,4li 27,683 2,874 32,880 1,448 8,210 2,000 11,145 837 3,129 1,160 964,906 176,565 135,136 163,930 77,669 328,294 485,791 212,177 160,137 1,217,668 209,546 108,115 215,337 162,808 52.8,324 65,009 55,080 30,850 118,315 42,043 37,133 32,603 36,947 60,416 11,983 5,601 4,559 15,500 3,907 2,996 3,777 3,777 9,248 9,728 5,170 3,371 2,106 6,127 2,801 201 2,022 12,028 14,319,942 856,569 5,671,407 816,037 1,074,720 528,445 374,189 2,443,197 475,602 309,858 457,705 319,204 993,009 1,530 110 549 150 l4l 66 54 13,140 1,388 4,028 117 1,499 1,688 176 182 — — 46 35 44 44 109 557 277 368 92 2,950 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted Bills bought Industrial advances U. S. Government securities Within 15 days S,4l4 6,677 534 16,818 1,607 183,017 2,564,015 _ _ 16 to 30 days 599 117 263 186,171 31 to 60 days 6l to 90 days 369 164 262 208,287 169 253 798 174,203 91 days to 6 months 6 months to 1 Year 594 2,017 136,884 6 -3,125 126,351 1 Year to 2 Years — ------ 6,710 376,428 2 Years to 5 Years Over 5 Years — — — - - ------ 2,036 580,569 — — — 592,105 Form FR-283~d FEDERAL RESERVE NOTE STATEMENT ON JUNE 1 , 1938 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy, Dallas San Fran. Federal Reserve notes: Issued to F.R.bankby F.R.agent 4,4-25,573 383,321 Held by Federal Reserve bank 268,417 27,023 997,895 315,610 430,444 195,563 157,872 86,038 12,977 22,292 8,013 13,706 991,109 190,360 139,338 172,939 84,747 366,375 26,203 13,795 4,202 9,009 7,078 38,081 4,157,156 356,298 911,857 302,633 408,152 187,550 144,166 964,906 176,565 135,136 163,930 77,669 328,294 In actual circulation Collateral held by agent as secu rity for notes issued to bank: Gold certificates on hand and due from U.S. Treasury 4,535,632 390,000 1,010,000 337,000 436,000 200,000 159,000 1 ,000,000 192,632 141,500 177,000 88,500 404,000 Eligible paper 7,047 784 2,002 1,186 455 649 157 200 71 182 240 471 650 Total collateral. 4,542,679 390,7S4 1,012,002 338,186 436,455 200,649 159,157 1,000,200 192,703 141,682 177,240 88,971 4o4,650
@FedFRASER