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STATEMENT FOR THE PRESS Seleased for publication Friday morning, June 255 not earlier* Board of Governors of the Federal Reserve System June 24, 1937. CONDITION OF FEDERAL RESERVE BANKS During the week ended June 23 member bank reserve balances increased #46,000,000. Additions to member bank reserves arbse from decreases of $21,000,000 in money in circulation, $99,000,000 in Treasury deposits with Federal Reserve banks and #3,000,000 in Treasury cash other than inactive gold and an increase of #2,000,000 in Treasury currency, offset in part by a decrease of $21,000,000 in Reserve bank credit and an increase of #57,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on June 23 were estimated to be approximately #810,000,000, an increase of #60,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to #1,039,000,000 on June 23, an increase of #51,000,000 for the week. Principal changes in holdings of bills and securities were an increase of #2,000,000 in United States Treasury notes and a decrease of #2,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and thevyear ended June 23, 1937, were as follows! Increase or decrease since June 23 1937 June 16 1937 June 24 1936 (In millions of dollars) Bills discounted Bills bought U# S. Government securities Industrial advances (not including 17 million commitments - June 23) 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 13 4 2,526 -1 -1 +7 +1 +96 22 -3 -19 -8 -5 2,562 12,270 2,550 -21 +50 +2 +90 +1,670 +50 6,854 6,394 3,396 151 587 +46 -21 +48 -99 +57 +1,546 +221 +748 -778 +74 (B-801) Released for publication Friday morning, June 25,1937? not earlier. B~801a ASSETS At© LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) June 23, 1937 June 16, 1937 June 24, 1936 ASSETS Gold certificates on hand and due from U* S. Treasury • • • • • • • • Redemption fund - F. R. notes . • • • Other cash • Total reserves . . . . . . . . . . Bills discountedt Secured by U.S. Gov^t obligations, direct or fully guaranteed • • • • Other bills discounted • . Total b?lis discounted • • • • Bills bought in open market , . . . Industrial advances U. S. Government securities s 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 8,836,904 10,241 322,491 9,169,636 8,837,903 9,860 313,595 9,161,358 7,958,042 12,364 272,844 8,243,250 9,844 3,459 13,303 4,273 22,012 11,521 2,807 14,328 •5,094 22,049 3,985 2,204 6,189 3,077 29,936 732,558 1,168,213 625,469 2 £26,2.40 732,608 1,166,213 627,469 2,526,290 315,678 1,494,199 620,357 2,430,234 181 — — 2,565,828 219 23,108 630,603 45,697 40,758 2,567,761 219 21,277 866,372 45,700 40,2.43 2,469,617 237 15,392 551,560 48,052 38,813 12,475,849 12,702,930 11,366,921 •. 4,162,832 4,177,805 3,980,018 .# •• •• 6,854,411 150,928 166,963 156 ,,553 6,807,978 250,212 147,450 119,479 5,307,954 929,072 56,258 195,677 7,328,855 634,198 132,205 145,854 27,490 35,931 8,484 7,325,119 851,089 132,240 145,854 27,490 35,931 7,402 6,4S8,96l 549,671 130,879 145,501 26,513 34,116 11,262 12,475,849 12,702,930 11,366,921 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 purchased for foreign correspondents . • • • Commitments to make industrial advances 79.8 79.6% 4,044 3,745 16,733 16,801 78.7% — 24,452 ASSETS At© LIABILITIES OF THE FEDERAL RESERVE BANKS OK JUNE 23, 5937 (In thousands of dollars) B-801b ASSETS Total Boston New York Phila. Gold certificates on hand and 8,836,904 434,425 3,375,522 502,2.38 due from U. S. Treasury 10,241 600 1,650 394 Redemption fund — F.R. notes 322,491 46,610 85,949 24,574 Other cash Total reserves 9,169,636 481,635 3,463,121 527,206 Bills discounted! Secured by U.S.Gov't obligations. 1,138 9,844 1,490 4,063 direct or fully guaranteed 136 1,868 11 3,459 Other bills discounted Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Oy. Dallas San Fran. 691,197 280,837 237,068 1,718,325 283,373 197,138 270,025 186,058 660,698 666 464 1,523 324 1,206 697 387 470 1,860 17,928 21,629 13,441 39,541 17,179 5,292 17,235 7,916 25,197 709,791 302„930 252,032 1,758,190 301,758 203,127 287,647 194,444 687,755 764 84 85 — — 86 78 34 33 75 131 164 256 510 102 164 86 325 67 60 784 206 98 629 420 98 1,258 612 772 1,920 732,558 53,365 1,168,213 85,140 625,469 45,584 210,233 61,861 335,283 98,654 179,513 52,821 71,309 38,575 32,234 113,724 61,521 51,326 60,889 32,938 27,481 80,726 32,298 23,828 35,992 28,601 63,516 128,742 51,509 38,002 57,402 45,612 101,298 68,930 27,578 20,346 30,733 24,421 54,235 Total U.S.Govt, securities 2,526,240 184,109 725,029 213,336 245,922 133,034 lll,04l 278,398 111,385 82,176 124,127 98,634 219,049 Total bills and securities Due from foreign banks F.R. notes of other banks Uncollected items Bank premises All other assets 2,565,828 189,092 738,420 218,849 248,051 136,098 112,668 279,780 111,960 83,087 125,060 100,410 222,353 6 6 4 16 27 3 1,610 1,754 2,830 2,427 415 1,533 87,578 26,215 16,521 32,541 24,557 34,891 4,661 2,369 1,497 3,217 1,259 3,4o6 3,716 1,524 1,439 2,982 1,793 1,566 TOTAL ASSETS 1,626 223 3,134 17 219 23,108 354 630,603 64,239 45,697 3,033 40,758 2,440 5,931 1,552 5,908 1,149 385 3,979 78 23 5,924 1,005 157,316 52,109 10,069 4,899 5,077 11,673 886 149 2,029 549 760 Total bills discounted Bills bought in open market Industrial advances U.S.Government securitiest Bonds Treasury notes Treasury bills 13,303 4,273 22,012 848 359 922 886 — 1,309 107 211 8 21 10 2,008 1,522 1,726 60,463 52,821 21,352 6,307 2,764 2,216 4,395 2,570 1,583 85 384 913 12,475,849 740,810 4,386,601 809,168 1,030,754 499,201 391,381 2,136,379 445,584 307,207 451,874 322,657 954,233 ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON JUNE 23, 1937 (In thousands of dollars) 3-801c 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 4,162,832 285,279 902,248 310,630 Deposits* Member bank — reserve account 6,854,411 336,340 3,023,153 378,241 U.S.Treasurer - General account 150,928 16,444 26,470 9,833 Foreign bank 166,963 11,902 62,779 15,978 Other deposits 2,255 92,477 9,180 156,553 431,546 192,129 172,920 967,598 177,170 137,901 161,070 92,213 332,128 454,279 219,065 168,597 16,093 11,037 7,033 15,000 7,011 5,707 20,884' 3,050 3,906 981,771 214,648 134,529 237,207 174,636 531,945 33,984 4,782 2,433 7,017 9,128 6,674 18,913 4,891 3,750 4,728 4,728 11,576 1,766 5,890 2,683 l40 3,401 10,921 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 506,256 240,163 185,243 1,036,434 230,211 143,395 249,092 191,893 561,116 60,916 51,859 20,480 87,525 27,660 16,517 31,688 27,427 36,607 12,875 4,856 4,336 12,637 3,815 2,894 4,002 3,865 10,113 14,323 4,869 5,616 21,504 4,655 3,116 3,613 3,851 9,645 1,007 3,422 754 l,4l6 545 1,003 1,142 1,262 1,996 3,121 1,497 1,690 7,832 1,199 2,055 94l 1,847 2,037 710 406 342 1,433 329 326 . 326 299 591 TOTAL LIABILITIES 7,328,855 366,941 3,204,879 413,232 634,198 64,441 157,496 51,582 132,205 9,373 51,196 12,243 145,854 9,826 51,474 13,362 27,490 2,874 7,744 4,325 35,931 1,570 9,142 3,000 8,4s4 506 2,422 794 12,475,849 740,810 4,386,601 809,168 1,030,754 499,201 391,381 2,136,379 445,584 307,207 451,874 322,657 954,233 Contingent liability on bills purchased for foreign correspondents 4,044 Commitments to make industrial advances 16,733 273 1,652 367 344 161 131 434 112 86 109 109 266 2,175 5,883 155 1,315 2,002 339 10 1,139 65 128 302 3,220 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted Bills bought Industrial advances U.S.Government securities 13,303 4,273 — 22,012 2,526,240 Within 15 days 11,451 1,956 871 34,710 16 to 30 days 31 to 60 days 616 375 1,421 910 78,920 470 l4o 35,063 61 to 90 days 400 426 748 132,266 91 days to 6 months 6 months to 1 Year 1 Year to 2 Years 2 Years to 5 Years Over 5 Years 5,385 247,497 8,805 615,368 681,687 459 1,844 219,008 3,309 481,721 FEDERAL RESERVE NOTE STATEMENT OK JUNE 23, 1937 (in thousands of dollars) 3~801d Total Boston New York Phila. Federal Reserve notesI ' Issued to F.R.bank by F.R.agent 4,501,262 329 / 5 2 1,013,053 327,337 Held by Federal Reserve bank 333,430 44,173 110,805 17,207 In actual circulation CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Gy, Dallas San Fran. 457,915 203,678 191,120 995,202 187,042 142,992 172,279 100,211 380,481 26,369 11,549 18,200 27,604 9,872 5,091 11,209 7,998 48,353 902,248 310,630 431,546 192,129 172,920 967,598 177,170 137,901 161,070 92,213 332,128 4,542,632 336,000 1,020,000 335,000 13,801 1,626 5,751 1,205 20,000 — — 459,500 205,000 173,000 IplO,000 189,632 144,000 174,000 102,500 389,000 915 916 1,309 85 ll4 67 217 430 1,166 — — 20,000 — — — -— — 4,576,433 337,626 1,025,751 336,205 460,415 205,916 199,309 ipiO,085 189,746 144,067 174,217 102,930 390,166 4,162,832 285,279 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
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