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form FFH283 STATEMENT FOR THE PRESS Released for publication Friday morning, June 24} not earlier. Board of Governors of the Federal Reserve System June 23, 1938 CONDITION OF FEDERAL RESERVE BANKS During the week ended June 22 member bank reserve balances increased $18,000,000* Additions to member bank reserves arose from decreases of $18,000,000 in money in circulation and $6,000,000 in Treasury deposits with Federal Reserve banks and increases of $7,000,000 in gold stock and #3,000,000 in Treasury currency, offset in part by increases of $4,000,000 in Treasury cash and $7,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $7,000,000 in Reserve bank credit. Excess reserves of member banks on June 22 were estimated to be approximately $2,780,000,000,an increase of $50,000,000 for the week. Principal changes in holdings of bills and securities were an increase of $10,000,000 in United States Treasury notes and a decrease of $10,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended June 22, 1938, were as follows» Increase or decrease since June 22 _„1928_ June 15 1938 June 2' 1937 (in millions of dollars) Bills discounted 10 Bills bought 1 U. S. Government securities 2,564 Industrial advances (not including 14 million commitments — June 22) 17 * 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 Nonmember deposits and other F, R. accounts +1 M* mm -3 -3 +38 -7 -5 +3 2,591 12,957 2,710 -7 +7 +3 +29 +687 +I60 7,922 6,402 2,293 929 712 +18 -18 +4 -6 +7 +1,068 +8 “1,103 +778 +125 -------------- *Less than $500,000. Form FR-283-a Released for publication Friday morning, June 24,193®? not earlier ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) June 22. 1938 June 15. 1938 June 23.1937 ASSETS Gold certificates on hand and due from U. S. Treasury . . . . . . . . . Redemption fund - F. R. notes . . . . . Other cash 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 • 10,635,912 9,900 411.562 11,057,374 10,637,401 9,164 , ,401.tl26 11,047,891 8,836,904 10,241 322.491 9,169,636 6,054 9,844 9,508 537 16,535 5,992 3.4o4 9,396 537 16,635 744,105 1,141,819 678.091 2,564,015 744,105 1,132,053 687.857 2,564,015 732,558 1 ,168,213 625,469 2,526,240 Total bills and securities . . . . . Due from foreign banks ..........* F. R. notes of other banks ........ Uncollected items Bank premises All other assets . . . ........... 2,590,595 183 22,473 549,768 44,621 42.560 2,590,583 183 22,109 682,909 44,657 41,525 2,565,828 219 23,108 630,603 45,697 ....40*722 TOTAL ASSETS...... 14,307,574 14,429,857 12,475,824 4,108,568 4,123,102 4,162,832 7,921,888 928,590 149,500 295*.508 9,295,486 549,504 133,569 147,739 27,683 32,846 12.179 14,307,574 7,904,250 934,887 139,487 .. 228*579 9,277,203 675,937 133,551 147,739 27,683 32,846 .. .,„11*226 14,429,857 6,854,411 150,928 166,963 . ,116*55.2 7,328,855 634,198 132,205 145,854 27,490 35,906 8.484 12,475,824 ... . 13,303 4,273 22,012 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 i n . . . . . . . . . . . . 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 purchased for foreign correspondents . . . . . 82.5$ 1,686 1,840 4,044 Commitments to make industrial advances 13,600 13,638 16,733 82.4$ 79.8$ Ä>im FR—283-b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JUNE 22, 1938 (ln thousands of dollars) A S S E T S Total Boston New York Phila, Gold certificates on hand and due from U, S. Treasury 10,635,912 583,044 4,436,961 526,903 Redemption fund - F.R, notes 9,900 1,033 1,085 1,337 Other cash 411,562 39,841 98,646 27,218 Total reserves 11>057,374 623,918 4,536,692 555,458 Bills discountedi Secured by U.S,Gov’t obligations, direct or fully guaranteed 6,054 2,772 721 595 Other bills discounted 3,454 174 546 525 Cleve. Rich, Atlanta Chicago St,Louis Minn, Kans.Cy. Dallas San Fran, 712,359 306,190 215,755 2,181,852 325,687 212,780 261,599 182,260 690,522 274 368 484 1,516 382 857 842 489 1,233 57,814 18,750 9,855 26,559 15,923 33,978 33,193 25,521 24,264 747,068 332,553 240,401 2,240,150 344,926 223,492 288,432 198,551 725,733 552 203 359 340 262 680 200 20 10 45 79 45 195 195 417 288 285 755 49 852 699 23 1,537 942 19 120 200 66 563 30 3 137 124 2 1,066 240 15 436 612 16 828 573 38 1,321 63,456 97,372 57,826 216,454 61,098 332,148 93,753 197,253 55,677 71,357 40,622 32,335 109,494 62,337 49,616 65,026 37,020 29,465 80,458 34,600 25,647 28,232 123,461 53,091 39,356 55,500 43,323 73,320 31,529 23,372 32,959 25,728 Total U.S,Govft securities 2,564,015 184,962 745,855 210,528 245,877 139,979 111,416 277,239 119,220 88,375 124,627 97,283 218,654 753,634 214,797 68 19 3,720 1,121 135,871 42,295 9,890 4,762 12,385 3,980 247,533 142,238 112,497 6 8 17 1,545 1,796 2,246 56,201 44,781 17,959 6,138 2,667 2,097 4,625 2,804 1,959 278,068 119,390 89,567 125,318 98,739 220,586 2 5 5 23 3 13 485 3,490 2,348 1,041 1,908 2,163 71,372 22,940 16,337 29,296 21,585 33,263 4,538 2,320 1,533 3,126 1,277 3,295 3,949 1,754 1,538 1,843 1,507 3,651 Total bills and securities Due from foreign banks F, R. notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 2,590,595 188,228 I83 14 610 22,473 549,768 57,868 44,621 2,978 42,560 2,565 3,297 211 4,271 1,267 55 2,947 CO H Total bills discounted 9,508 769 Bills bought in open market 4o 537 Industrial advances 16,535 2,457 U. S.Government securities* Bonds 744,105 53,678 Treasury notes 1,141,819 82,368 Treasury bills 678,091 48,916 14,307,574 876,181 5,452,260 822,432 1,063,127 526,847 377,165 2,601,590 493,681 333,510 449,928 322,149 988,704 Form Fîfr-283-c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JUNE 22, 1938 (in thousands of dollars) L IABILITIES Total Boston New York Phila. TOTAL LIABILITIES Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, 300,439 405,468 188,000 l4l,447 378,365 52,654 14,638 1,497 471,329 2l4,4l4 154,186 1,326,248 247,003 118,587 217,804 161,217 541,053 75,224 56,497 41,057 179,186 27,074 49,492 24,606 42,611 37,229 13,742 6,423 5,228 17,775 4,481 3 /3 6 4,332 4,332 10,605 9,427 2,698 3,607 1,575 6,556 2,940 180 1,918 14,468 9,295,486 44i,4o4 4 ,308,388 447,154 549,504 56,597 132,637 41,750 133,569 9,405 50,937 12,245 51,943 13,466 147,739 9,900 27,683 2,874 7,744 4,4li 32,846 1,448 8,210 2,000 3,581 12,179 887 967 569,722 280,032204,078 1,524,784 285,114 174,455 246,922 210,078 603,355 54,907 43,584 18,511 73,587 24,327 15,687 30,120 24,306 33,491 13,377 4,954 4,449 13,153 3,904 2,907 4,159 3,937 10,142 14,323 4,964 5,626 22,387 4,667 3,153 3,613 3,892 9,805 1,007 3,409 73O 1,429 545 1,001 1,142 1,270 2,121 3,177 1,401 1,603 7,174 1,215 1,908 934 1,776 2,000 613 558 4l6 914 1,146 503 721 1,428 445 F.R.notes in actual circulation '4-,108,568 353,666 888,820 Deposits* Member bank — reserve account 7,921,888 383*502 3,708,180 U.S,Treasurer - General account 928,590 4-3,028 299,932 Foreign bank 149,500 4-0,755 53,753 Other deposits 295,508 4,119 246,523 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities Cleve. 957,648 173,464 133,786 162,480 76,474 326,876 14,307,574 876,181 5,452,260 822,432 1,063,127 526,847 377,165 2,601,590 493,681 333,510 449,928 322,149 988,704 Contingent liability ûn bills purchased 1,686 for foreign correspondents Commitments to make industrial advances 13,600 121 605 165 155 72 59 201 51 39 49 49 12P 1,415 3,965 118 1,536 1,859 186 24 569 277 443 91 3,117 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Bills discounted Bills bought Industrial advances U. S. Government securities Total Within 15 days 9,508 537 16,535 2,564,015 7,556 4 1,290 117,172 31 to 60 days 61 to 90 days 477 477 298 107 160 316 128,8931 173,696 403 128 920 192,780 16 to 30 days 91 days to 6 months 6 months to 1 Year 6 589 - - 2,101 108,335 - - 2,939 168,763 1 Year to 2 Years ----- 6,679 430,359 2 Years to 5 Years — ~ 2,130 579,257 Over 5 Years — — -664,760 Form FR-283-d FEDERAL RESERVE NOTE STATEMENT ON JUNE 22, 1938 (In thousands of dollars) Total Boston New York Phila. Cleve. Federal Reserve notes* Issued to F.R.bank by F.R.agent Held by Federal Reserve bank In actual circulation Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, 4,4l6,044 381,300 307,476 27,634 995,24-2 317,565 429,542 198,243 157,014 106,422 17,126 24,074 10,243 15,567 981,650 187,472 139,007 173,012 84,100 371,897 24,002 14,008 5,221 10,532 7,626 45,021 4,108,568 353,666 888,820 300,439 405,468 188,000 l4l,447 957,648 173,464 133,786 162,480 76,474 326,876 Collateral held by agent as secu rity for notes issued to bank* Gold certificates on hand and due from U. S. Treasury Eligible paper 4,531,632 390,000 1,010,000 337,000 432,000 200,000 159,000 1,000,000 192,632 l4l,500 177,000 88,500 404,000 8,505 739 3,l45 94l 580 64o 712 200 20 124 226 612 566 Total collateral 4,540,137 390,739 1,013,145 337,941 432,580 200,640 159,712 1 ,000,200 192,652 l4l,624 177,226 89,112 4o4,566
@FedFRASER