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Forra FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, June 10; not earlier, Board of Governors of the Federal Reserve System June 9, 1938* CONDITION OF FEDERAL RESERVE BANKS During the week ended June 8 member bank reserve balances increased |103,000,000. Additions to member bank reserves arose from decreases of $>32,000,000 in money in circulation and $88,000,000 in Treasury deposits with Federal Reserve banks, and an increase of $22,000,000 in gold stock, offset in part by a decrease of $11,000,000 in Reserve bank credit and increases of $23,000,000 in Treasury cash and $7,000,000 in nonmember deposits and other Federal Reserve accounts* Excess reserves on June 8 were estimated to be approximately $2,710,000,000, an increase of $70,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended June 8, 1938, were as follows» Increase or decrease since June 8 1938 June 1 1928 June 9 1937 (In millions of dollars) Bills discounted 9 Bills bought 1 U. S, Government securities 2,564 Industrial advances (not including 13 million commitments - June 8) 17 Other Reserve bank credit -8 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 -------------- —— -5 -5 +38 -11 -5 -12 2,582 12,9*0 2,703 -11 +22 —— +9 +822 +156 7,848 6,437 2,277 1,005 660 +103 -32 +23 -88 +7 +919 +2 -977 +920 +126 _ — Form FR-2o3-u Released for publication Friday morning, June 10,1938; not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) June 8. 1938 June 1.1938 June 9. 1937 ASSETS Gold certificates on hand and due from U. S. Treasury 10,637,*00 Redemption fund - F. R. notes . . . . . . 9,619 Other cash 397.797 11,0*4,816 Total reserves . . . . . . . . . . . . . Bills discounted» Secured by U.S.Gov’t obligations, direct or fully guaranteed . . . . . . 5,*42 Other bills discounted . . . . . . . . .126 8,568 Total bills discounted ........... Bills bought in open market . . . . . . . 536 Industrial advances .............. . 16,732 U. S. Government securities» Bonds...... ................ . 657,253 Treasury notes ................ . 1,191,905 Treasury bills . . . . . . . . . . . . 71*.857 Total U.S. Government securities ... 2,564,015 Total bills and securities ........ Due from foreign banks .......... . . F. R. notes of other banks . ........ Uncollected items . . .............. Bank premises All other assets . . . . . . . ...... TOTAL ASSETS ............ 8,838,405 9,971 10,638,900 8,186 389,350 11 ,036,*36 9,154,114 5,*79 .... 2,222 8,*1* 53* 16,818 11,006 3.289 1*,295 5,818 22,196 657,253 1,191,905 71*,857 2,56*,015 732,608 1,152,213 6*1,*69 2,526,290 2,589,851 18* 20,816 513,229 4*,6*1 49,267 2,589,781 186 18,7*2 582,086 *4,6*1 *8,070 2,568,599 226 22,025 595,266 *5,687 *9.199 1*,262,80* 1*,319,9*2 12/35,116 *,135,785 *,157,156 *,200,965 7,8*7,605 1,00*,68* 131,989 267.1*1 9,251,*19 521,177 ■133,558 1*7,739 27,683 32,880 12.563 1*,262,80* 7,7**,9*9 1,092,819 130,200 262.79* 9,230,762 578,995 133,582 147,739 27,683 32,880 11.145 6,928,977 8*,6*2 139,671 139,*70 7,292,760 591,267 132,196 1*5,85* 27/90 35,9*0 8,64* 14,319,942 12/35,116 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 . 82.5$ 82,4$ 79.6$ 1,703 1,530 2,532 13,373 13 ,1*0 16,956 Form FR—283~b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON JUNE 8, 1938 (in thousands of dollars) ASSETS Total Boston New York Phila, Gold certificates on hand and due from U.S,Treasury 10,637,400 591,268 4,465,733 565,850 Redemption fund — F.R,notes 9,619 1,091 1,330 1,434 Other cash 397,797 38,935 93,776 24,472 Total reserves 11,044,816 631,294 4,560,839 591,756 Bills discounted* Secured by U.S,Gov’t obligairfLons, direct or fully guaranteed 1,669 771 5,442 653 208 Other bills discounted 3,126 485 547 Total bills discounted 8,568 Bills bought in open market 536 Industrial advances 16,732 U. S, Government securities* Bonds 657,253 Treasury notes 1,191,905 Treasury bills 714,857 861 40 2,367 2,154 211 4,34l 1,318 55 2,950 Cleve. Rich, Atlanta Chicago St.Louis Minn# Kans.Cy. Dallas San Fran. 729,342 298,184 232,281 2,103,109 2.92,884 206,087 271,4l6 176,452 704,794 605 85* 429 571 510 868 290 380 1,257 35,740 27,075 19,556 56,344 18,701 9,429 27,457 13,781 32,531 765,687 326,113 252,266 2,160,024 312,095 216,384 299,163 190,613 738,582 378 184 310 276 322 6l4 190 10 70 10 120 62 4l4 222 207 266 338 242 562 49 889 586 23 1,548 936 19 115 200 66 672 80 3 137 182 2 1,074 636 15 46l 473 15 862 5S0 , 38 1,316 47,412 85,982 51,568 191,191 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 30,561 128,877 55,420 77,295 35,239 22,654 31,9*7 24,937 56,049 4l,o8l 57,934 45,223 101,644 24,64) 34,746 27,123 60,961 2,564,05.5 184,962 745,855 210,528 245,877 139,979 111,416 277,239 119,220 88,375 124,627 97,283 218,654 Total bills and securities 2,589,851 188,230 752,561 214,851 Due from foreign banks 14 184 69 19 F. R. notes of other banks 4403,747 1,067 20,816 Uncollected items 513,229 52,285 121,074 41,263 Bank premises 2,978 9,890 4,773 44,64l All other assets 14,208 5,172 3,015 49,267 247,377 142,136 112,466 8 7 17 1,342 1,440 2,254 54,868 44,608 21,157 6,151 2,667 2,101 5,228 3,155 2,168 278,177 119,440 2 23 3,238 1,948 63,134 23,800 4,538 2,320 4,521 2,042 89,633 125,739 98,633 220,588 2 5 5 13 1,810 1,068 597 1,865 l4,605 27,362 21,813 27,260 1,517 3,126 1,277 3,303 4,196 1,749 2,097 1,716 TOTAL ASSETS 14,262,804 878,256 5,462,388 858,901 1,080,670 520,127 392,439 2,513,655 461,647 325,700 458,560 314,654 995,807 Form FR-283-c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JUNE 8, 1938 (in thousands of dollars) LIABILITIES Total Boston New York Phila, L Deposits» Member bank — reserve account U.S.Treasurer - General accovuit Foreign bank Other deposits Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies AH other liabilities TOTAL LIABILITIES for foreign correspondents Commitments to make industrial advances *,135,785 356,3*3 893,925 300,806 7,8*7,605 399,512 3,580,222 *2*,690 1 ,00*,68* 30,808 *79,37* 44,246 *8,*98 12,765 131,989 9,378 267,1*1 5,770 218,673 1,917 9-,251,*19 **5,*68 *,326,767 483,618 521,177 51,981 119,533 40,73* 133,558 9,*05 50,937 12,260 1*7,739 9,900 51,9*3 13,*66 27,683 2,87* 7,7*4 *,*11 32,880 1,**8 8,210 2,000 12,563 837 3,329 1,606 Cleve» Rich, Atlanta 409,163 190,092 1^3,353 Chicago St,Louis» Minn, Kans.Cy, Dallas San Fran, 961,782 174,897 134,458 164,151 77,480 329,335 503,*31 218,592 161,699 1,299,759 212,830 113,190 222,657 159,821 551,202 59,111 *2,918 *6,806 121,021 27,095 *8 ,1*3 29,700 36,512 38,950 11,983 5,601 *,559 15,500 3,907 2,996 3,777 3,777 9,248 183 1,954 12,*27 1,392 6,222 2,500 3,496 9,732 2,875 58*,257 270,607 215,939 1,437,672 250,05* 166,829 256,317 202,064 611,827 5*,281 **,217 20,046 68,745 25,935 14,385 27,765 23,85* 29,701 13,1*7 3,90* 2,903 4,1*7 3,934 10,150 13,375 *,9*9 *,*47 22,387 *,667 3,153 3,613 3,892 9,805 1*,323 *,964 5,626 730 1,*29 5*5 1,001 1,1*2 1,270 2,121 1,007 3,409 7,201 1,215 1,915 934 1,776 2,000 3,177 1,*01 1,603 384 868 *88 *30 1,056 1,292 491 1,087 695 14,262,80* 878,256 5,462,388 858,901 1,080,670 520,127 392,*39 2,513,655 *61,6*7 325,700 *58,560 314,65* 995,807 1,703 123 611 167 157 73 60 203 51 39 *9 *9 121 13,373 1,373 *,021 118 1,*88 1,86* 176 24 570 276 366 92 3,005 ,MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted Bills bought Industrial advances U. S.' Government securities 8,563 536 16,732 2,56*,015 Within 15 days 16 to 30 days 559 6,913 4 127 263 1,5** 26*,905 109,604 31 to 60 days 321 2*7 405 20*,75* 61 to 90 days 235 158 1,022 181,285 91 days to 6 months 6 months to 1 Year 535 ----- 1,663 128,014 1 Year to 2 Years K mm 3,099 126,351 2 Years to 5 Years — ----- 6,729 376,*28 -2,007 580,569 Over 5 Years — ----- -592,105 Form FR-28>*d FEDERAL RESERVE NOTE STATEMENT ON JUNE 8 , 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. 4/3*,946 382,004 997,091 318,636 432,481 199,79* 158,652 299,161 25,661 103,166 17,830 23,318 9,702 15,299 987,773 188,967 139,595 173,9*8 85,323 370,682 25,991 14,070 5,137 9,797 7,843 4l,347 4,135,785 356,3*3 893,925 300,806 *09,163 190,092 1*3,353 961,782 17*,897 134,458 164,151 77,*80 329,335 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 *36,000 2q0,000 159,000 1,000,000 192,632 1*1,500 177,000 88,500 40*,000 Eligible paper 7,659 821 2,0*4 995 *07 546 719 200 71 182 626 472 576 Total collateral 4,543,291 390,821 1,012,0*4 337,995 436,407 200,546 159,719 1,000,200 192,703 l4l,682 177,626 88,972 *04,576
@FedFRASER