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Form FR—283 STATEMENT FOR THE PRESS Released for publication Fri.'ay morning, June 23; not earlier, Board of Governors of the Federal Reserve System June 22, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended June 21 member bank reserve balances decreased $2 ,000,000, Reductions in member bank reserves arose from increases of $13,000,000 in Treasury deposits with Federal Reserve banks and $10,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $21,000,000 in Reserve bank credit, offset in part by increases of $33 ,000,000 in gold stock and $5,000,000 in Treasury currency, and a decrease of $4,000,000 in Treasury cash. Excess reserves of member banks on June 21 were estimated to be approximately $4,230,000,000, a decrease of $30 ,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended June 21, 1939, were as follows: Increase or decrease since June 21, 1939 June 14, 1939 June 22, 1938 (In millions of dollars) + 2 Bills discounted 5 Bills bought 1 U, S. Government securities 2,564 Industrial advances (not including 11 million commitments - June 21) 12 Other Reserve bank credit 3 - 22 + Total. Reserve bank credit Gold stock Treasury currency - 21 + 33 + 5 7 +3,103 + 163 2 2 +2,177 + 532 + 273 + 12 + 265 2,584 16,060 2,873 Member bank reserve balances 10,099 Money in circulation 6,934 2,566 Treasury cash Treasury deposits with F, R. banks 941 Nonmember deposits and other F.R, accounts 977 5 — — — + + 4 13 10 5 3 Form FE-28>-a Released for publication Friday morning, June 23,1939? not earlier, STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BARKS 'COMBINED (In thousands of dollars) Increase or decrease since June 22, June 14, June 21, 193.8. 1939 . 1939... ASSETS Gold certificates on hand and +2,829,806 due from U, S, Treasury 13,465,718 + 44,999 746 Redemption fund — F, R. notes 8,721 1,179 - 44.596 Other cash 366,966 — 3 ,908. Total reserves 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 U. S, Government securities* Bonds Treasury notes 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 Other assets TOTAL ASSETS 13,841,405 + 35,345 +2,784,031 1,081 — 366 + 2,022 —m, + 4,973 258 + 1,656 - 5 92 + — A,715 19 4,158 .... 2,712 4,793 556 12,377 911,090 1,176,109 476,816 — — 2,564,015 — 2,581,741 167 20,577 641,188 42,427 ........ 17,173,228 + 1,559 + 5 - 1,107 -121,422 25 - 15,459 + 166,985 + 34,290 - 201,275 — 8,854 16 1,896 + 91,420 2,194 .+ 1,162 -101,104 +2,865,654 4,429,306 - 8,397 + 320,738 10,099,163 941,004 354,298 J52j 797 11,754,262 - 1,766 + 13,015 + 3*269 ~.JL>647 + 10,871 +2,177,275 + 12,414 + 204,798 + 6A,289 +2,458,776 638,637 - 98,835 + 89,133 ____5.621 4,713 -101,074 _ 79 + + 1,442 + 1,413 419 — .5.^50 +2,865,654 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 Other liabilities including accrued dividends 16,827,826 TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in 135,011 Surplus (Section 7) 149,152 Surplus (Section 13b) 27,2.64 Other capital accounts .-21*972 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 17,173,228 Ratio of total reserves to deposit and F,R. note liabilities combined 85.5% Contingent liability on bills purchased — for foreign correspondents Commitments to make industrial advances 11,338 42 , — «_ 72 -101,104 +2,868,568 + 3.0% + .256 — 50 - 1,686 2,262 Form FR—283—b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JUNE 21, 1939 (in thousands of dollars) ASSETS Total Boston New York Phila. Gold certificates on hand and due from U.S.Treasury ;13,465,718 Redemption fund - F.R. notes 8,721 Other cash 366,966 743,754 6,387,560 680,083 587 1,334 1,177 25,165 101,723 28,795 844,680 349,763 266,033 2,230,856 353,549 244,367 320,932 215,737 372 550 562 795 431 893 233 533 26,941 21,068 20,332 43,751 19,782 9,276 13,681 14,982 778,404 1,254 31,465 769,506 6,490,622 710,055 872,416 371,724 286,915 2,329,979 373,893 254,074 339,846 231,252 311,123 Total reserves ;L3,341,405 Bills discounted: Secured by U.S.Gov’t obligations, direct or fully guaranteed 1,031 Other bills discounted 3,712 Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 130 105 37 344 1,075 178 221 230 307 142 42 1,728 1,419 213 399 57 2,507 283 52 367 437 24 53 20 76 47 274 — 84 2 68 24 465 85 280 93 595 96 20 779 321 71 455 84 2 4 70 2 789 489 365 16 587 688 41 944 Total bills discounted 4,793 Bills bought in open market 556 Industrial advances 12,377 U. S. Government securities: 911,090 Bonds Treasury notes 1,176,109 476,816 Treasury bills 67,984 87,759 35,579 256,538 73,522 331,160 94,907 134,259 38,478 90,042 47,696 41,369 116,233 61,570 53,403 47,123 24,961 21,650 102,026 44,123 27,660 46,954 36,346 131,706 56,958 35,708 60,61? 46,916 53,395 23,092 14,476 24,573 19,021 76,830 Total U.S.Gov’t securities 2,564,015 191,322 721,957 206,907 253,398 134,227 116,422 287,127 124,173 77,844 132,140 102,283 216,215 Total bills and securities 2,531,741 Due from foreign banks 167 F.R.notes of other banks 20,577 Uncollected items 641,138 Bank premises 42,427 Other assets 45,723 193,234 12 316 64,028 2,922 2,887 726,427 209,870 16 66 4,567 1,015 163,722 45,337 8,959 4,646 13,330 3,930 254,100 135,856 117,317 6 7 15 1,641 1,392 2,209 71,051 54,821 21,194 5,943 2,589 2,055 5,047 2,928 2,043 287,974 124,263 78,705 132,856 103,251 217,888 TOTAL ASSETS 2,838 1,168 16 211 5 20 2 2 5 2,779 1,529 i,i4o 1,018 361 91,680 27,416 17,728 29,921 23,493 3,917 2,272 1,512 3,133 1,238 4,479 1,921 1,413 2,104 1,738 99,176 40,209 11 2,610 30,797 3,191 3,903 17,173*228 1,032,905 7,407,693 974,369 1,210,213 569,317 431,739 2,720,028 531,296 354,574 508,933 361,338 1,069,523 Form FiV"2S3“*e STATEMENT' OF CONDITION OF THE-.FEDERAL.RESERVE. BANKS ON JUNE 21, '1939 (in thousands of dollars) LIABILITIES Total F.R.notes in actual circulation 4,429,306 Deposits* Member bank-reserve account 10,099,163 U.S.Treasurer-General account 9/1,00/ Foreign bank 35-4,298 Other deposits 359*797 Boston New York Phila. 380,9/1 1,091,545 312,984 Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 412,364 191,720 147,072 983,091 178,775 133,429 169,034 75,845 352,506 479,815 5,433,932 498,854 52,423 19$,903 45,532 25,505 126,457 34,364 5,776 281,182 4,722 552,720 242,999 185,182 1,346,971 249,315 134,707 235,114 177,704 99,156 50,735 44,980 205,338 48,434 45,373 44,156 56,403 32,947 15,233 12,399 42,866 10,274 8,l4S 10,274 10,274 10,650 1,566 8,599 4,737 5,053 5,874 8,626 3,108 561,850 51,571 25,557 19,904 11,754,262 Total deposits Deferred availability items 638,637 Other liabilities including accrued dividends 5,621 563,519 6,038,474 583,472 695,473 310,533 251,160 1,599,912 313,076 194,102 298,170 247,489 658,882 64,061 497 156,450 45,587 2,021 566 69,327 52,101 20,681 530 166 219 92,610 28,792 17,779 31,410 26,808 33,031 162 319 535 143 159 304 TOTAL LIABILITIES 16,827,826 1,009,018 7,268,490 942,609 1,177,694 554,520 419,132 2,676,148 520,786 345,469 498,918 350,304 1,044,738 CAP IT A L ACCOUNTS Capital paid in 50,848 12,057 135,011 9,401 13,697 3,986 2,913 4,262 4 £2 5 13,657 5,075 4,527 10,563 Surplus (Section 7) 22,666 4,685 3,153 3,613 3,892 10,083 52,463 13,696 149,152 9,965 14,323 4,983 5,630 Surplus (Section 13" d) 1,429 2,121 27,264 2,874 1,007 3,293 7,457 4,416 545 1,001 1,142 1,266 713 Other capital accounts 6,888 1,294 2,038 998 1,851 1,529 8,435 2,091 33,975 3,532 1,4/6 1,737 2,136 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 17,173,228 1,032,905 7,407,693 974*869 1,210,213 569,317 431,739 2,720,828 531,296 354,574 508,933 361,338 1,069,523 Commitments to make industrial advances 998 14(0 566 189 564 79 2,876 2,241 1,555 635 11,338 1,495 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted Bills bought Industrial advances U. S. Governp.ent securities 4,793 556 12,377 2,564,015 Within 15 days 16 to 30 days 1,647 66 1,739 63,798 197 233 145 72,137 31 to 60 days 195 234 1,028 159,573 6l to 90 days 2,182 23 233 145,765 91 days to 6 months 6 months to 1 Year 571 — 1,599 138,219 1 — 3,932 296,068 1 Year to 2 Years 2 Years to 5 Years — 1,851 270,250 1,850 587,860 --- Over 5 Years ----- 830,345 Form FR—283-d FEDERAL RESERVE NOTE STATEKEHT ON JUNE 21 , 1939 (In thousands of dollars) Total Boston Hew York Phila. Cleve, Rich, Atlanta Chicago St,Louis Minn, Kans.Cy. Dallas San Fran. Federal Reserve notes* Issued to F.R.bank by F.R.agent Held by Federal Reserve bank 4,733,260 402,123 1,186,308 333,228 432,600 204,197 157,953 303,954 21,182 94,763 20,244 20,236 12,477 10,381 016,985 192,008 137,53^ 173,892 83,311 408,119 33,394 13,233 4,107 9,858 7,466 55,613 In actual circulation 4,429,306 380,941 1,091,545 312,984 412,364 191,720 147,072 983,091 178,775 133,4-29 169,034 75,845 352,506 Collateral held by agent as se curity for notes issued to bank* Gold certificates on hand and due from U. S. Treasury Eligible paper Total collateral 4,865,500423,000 1,210,000 345,000 435,500 210,000 169,000 1,035,000 196,000 14-3,500 132,000 85,500 4-34,000 2,701 122 545 178 95 3^0 23 75 25 19 431 306 542 4,363,201420,122 1,210,545 345,178 435,595 210,340 169,023 1,035,075 196',025 14-3,519 132,431 85,806 434,542
@FedFRASER