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Form FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, Mar* 11j not earlier* Board of Governors of the Federal Reserve System March 10, 1938 CONDITION OF FEDERAL RESERVE BANKS During the week ended March 9 member bank reserve balances increased v96,000,000. Additions to member bank reserves arose from decreases of $9,000,000 in money in circulation, $17,000,000 in Treasury cash, #>4,000,000 in Treasury deposits vdth Federal Reserve banks and $32,000,000 in nonmember deposits and other Federal Reserve accounts, and increases of 131,000,000 in Reserve bank credit. Excess reserves of member banks on March 9 were estimated to be approximately $1,^70,000,000, an increase 'of $80,000,000 for the week* Inactive gold included in the gold stock and in Treasury cash amounted to $>1,188,000,000 on March 9, a decrease of #3,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended March 9, 193?, were as followst Increase or decrease since Mar. 9 Mart 2 1938 Mar. 10 1937 (in millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 13 million commitments - March 9) 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 8 1 2,564 -2 —— +3 -2 +134 +33 -6 +11 2,594 12,768 2,670 +31 +1 +1 +1,284 +133 7,311 6,334 3,562 181 645 +96 -9 -17 -*4 -32 +562 -42 +890 ~5 +153 17 4 — +1A0 Form FR-283-a Released for publication Friday morning, Mar. 11, 1938, not earlier® ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Mar. 9, 1938 Mar, 1938 Mar. 10, 1937 9,178,601 9,10-4 471,610 9,173,603 9,308 455,851 8,846,407 11,198 263,025 . . . . . . . . . 9,659,315 9,638,762 9,120,630 Bills discounted: Secured by U. S. Gov*t obligations, direct or fully guaranteed . . Other bills discounted «... 5,366 3*053 3,919 1,005 8,4-19 542 17,357 6,471 3,163 9,634 4,924 550 17,453 3,083 23,037 702,683 1,185,103 676,229 702,683 1,185,103 676,229 533,682 1,303,971 592,574 Total U. S, Government securities 2,564,015 2,564,015 2,430,227 Total bills and securities 2,590,333 178 17,644 500,039 44,861 49,250 2,591,652 169 19,569 568,503 44,861 46.646 2,461,271 225 22,043 564,065 46,015 50,043 12,861,620 12,910,162 12,264,292 4,134,017 4,144,684 4,169,467 7,310,761 180,851 117,260 272+052 7,215,012 184,501 124,158 296,461 6,749,105 186,331 79,217 159.198 . . . . . . . 7,880,924 7,820,132 7,173,901 Deferred availability items • . . . Capital paid in . Surplus (Section 7) . . . . . . . . Surplus (Section 13 b) . . . • # . . Reserve for contingencies . . . . . All other liabilities . . 496,700 133,265 147,739 27,683 32,985 8.307 597,762 133,217 147,739 27,683 32,984 5,961 571,707 132,276 145,854 27,490 36,200 7.397 12,861,620 12,910,162 12,264,292 ASSETS Gold certificates on hand and due' fron U. S. Treasury . . . . . . . . Redemption fund - F. R. notes . . . Other cash . . . . . . . . . . . . . Total reserves Total bills discounted Bills bought in open market Industrial advances . . . . U. S. Government securitiest Bonds . . • • • • . . . • • Treasury notes • « . . . . Treasury bills • • . . . . Due from foreign banks * . F. R. notes of other banks Uncollected itens . . . . Bank premises • « • » . . All other assets . * . . . • TOTAL ASSETS L I A B I L I T I E S F. R. notes in actual circulation * Deposits! Member bank - reserve account . . . U.S. Treasurer — General account . Foreign bank . . . . Other deposits • Total deposits TOTAL LIABILITIES .... Ratio of total reserves to deposit and F. R. note liabilities combined . . Contingent liability on bills purchased for foreign correspondents * . . • 80.4% 640 64O Commitments to make industrial advances 12,985 13,031 80.6% 80.4% 19,496 Form FR-283-a ASSETS AMD LIABILITIES OF TEE' FEDERAL RESERVE EAKZS OH MARCH 9, 193S (In thousands of dollars) A S S E T S Total Boston New York Phila. Gold certificates on hand and 9,178,601 501,641 3,777,708 469,612 due from U.S.Treasury 9,104 Redemption fund - F.R.notes 511 917 1,073 Other cash 471,610 50,225 120,165 37,726 Total reserves 9,659,315 552,377 3,898,790 508,411 Bills discounted: Secured by U.S.Gov't obligations, 5,366 direct or fully guaranteed Other bills discounted 3,053 fotal bills discounted Bills bought in open market Industrial advances U. S. Government securities: Bonds Treasury notes Treasury bills Cleve. Rich. Atlanta Chicago St.Louis Minn. Eans.Cy. Dallas San Fran. 628,466 291,509 228,556 1,711,465 277,373 187,747 259,520 175,192 669,812 734 68 5 862 1,312 470 347 725 1,035 433 69,720 34,364 9,588 26,777 12,809 40,971 43,287 27,882. 18,096 672,487 320,253 247,964 1,781,910.292,422 197,682 286,730 188,471 711,818 647 84 2,098 326 960 676 314 161 350 207 426 554 65 16 55 40 76 164 466 47 254 240 193 2,424 1,636 475 81 95 76 630 301 207 4,312 56 3,319 557 24 1,705 980 542 17,357 731 4i 2,660 19 124 68 682 2 574 16 468 16 922 433 39 l,4oo 702,683 1,185,103 676,229 51,589 87,005 49,645 202,679 341,826 195,049 57,992 97,808 55,810 69,347 37,353 29,451 116,955 62,997 49,669 66,736 35,947 28,341 77,391 31,373 22,814 36,203 1^0,522 52,913 38,477 61,059 74,477 30,192 21,955 34,841 27,341 59,150 46,113 99,759 26,313 56,923 99,767 215,832 8,419 51 990 3 201 Total U.S. Gov't securities 2,564,015 188,239 739,554 211,610 253,038 136,297 107,461 282,390 114,478 83,246 132,103 Total bills and securities 2,590,333 191,671 746,497 216,621 254,554 138,583 108,584 283,221 114,777 Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 178 12 17,644 249 500,039 49,350 44,861 2,992 49,250 3,087 73 3,772 119,366 9,940 14,111 17 812 36,728 4,805 5,637 12,861,620 799,738 4,792,549 773,031 16 1,080 44,945 6,190 5,254 1,106 44,358 2,687 2,904 6 2,603 22,590 2,112 1,929 83,898 133,217 101,006 217,704 21 2 2 368 1,163 3,203 63,697 24,158 13,888 4,569 1,493 2,333 1,664 4,, 618 1,897 5 1,211 25,677 3,142 2,241 5 555 23,810 1,269 1,771 12 1,522 31,472 3,329 4,137 984,526 509,898 385,788 2,l4l,239 436,752 298,995 452,223 316,807 969,994 Form FR-283-a ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MARCH 9, 1938 (in thousands of dollars) L I A B I L I T I E S Total Boston New York Phila. F.R.notes in actual circulation 4,134,017 277,219 910,207 3X0,339 Deposits: Member bank - reserve account 7,310,761 427,915 3,291,151 376,407 U.S.Treasurer - General account 180,851 6,576 87,681 4,350 Foreign bank 117,260 8,403 42,452 11,437 Other deposits 272,052 4,759 227,187 909 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section, 13 b) Reserve for contingencies All other liabilities TOTAL LIABILITIES 7,880,924 447,653 3,648,471 496,700 50,64l 113,115 133,265 9,4o4 50,942 147,739 9,900 51,943 27,683 2,874 7,744 32,985 1,448 8,210 8,307 599 1,917 Cleve. Rich. Atlanta Chicago St.Louis 418,808 196,817 152,516 Minn. Kans.Cy. Dallas San Fran. 967,110 178,321 136,304 167,511 81,050 337,815 460,612 241,199 186,544 1,017,075 207,586 130,014 238,273 186,977 547,008 13,512 2,991 4,442 30,029 5,154 3,430 7,000 5,758 9,928 10,737 5,019 4,085 13,888 3,501 2,684 3,384 3,384 8,286 4,042 4,660 3,036 954 6,345 3,661 709 3,062 12,728 393,103 35,789 12,277 13,466 4,411 2,000 1,646 488,903 253,869 198,107 1,061,946 222,586 139,789 249,366 199,181 577,950 44,470 44,165 22,227 67,147 25,260 13,465 25,3.92 25,577 29,652 13,154 4,949 4,445 13,085 3,894 2,903 4,l44 3,925 10,143 9,805 3,892 14,323 4,964 5,626 22,387 4,667 3,153 3,613 2,121 1,270 1,007 3,409 730 1,429 545 1,001 1,142 1,776 2,000 3,177 1,401 1,603 7,285 1,215 1,936 934 216 508 684 324 534 850 264 444 321 12,861,620 799,738 4,792,549 773,031 984,526 509,898 385,788 2,l4l,239 436,752 298,995 452,223 316,887 969,994 Contingent liability on bills purchased for foreign correspondents 640 Commitments to make industrial advances 12,985 46 230 63 59 27 22 1,498 4,328 146 1,462 1,552 282 76 - - 19 15 19 19 45 485 4l 97 268 2,826 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Bills discounted Bills bought Industrial advances U.jS. Government securities Total Within 15 days 16 to 30 days 31 tc 6Q days 61 to 90 days 91 days to 6 months 6 months to 1 Year 8,419 542 17,357 2,564,015 6,579 47 1,343 104,218 428 719 297 274 136,562 373 306 l4 1,766 293,578 3,328 133,569 752 56,383 1 Year to 2 Years 2 Years to 5 Years Over 5 Years 5,207 329,405 4,240 666,629 649,350 198 447 194,321 Form FRr-283-d FEDERAL RESERVE NOTE STATEMENT ON MARCH 9, 1938 (in thousands of dollars) Total Boston New York Phila. Federal Reserve notes: Issued to F.R.bank by F.R.agent 4,459,063 311,000 1,016,209 334,701 Held by Federal Reserve bank 325,046 33,781 106,002 24,362 In actual circulation 4,134,017 277,219 910,207 310,339 Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 444,482 207,849 170,147 2,5,674 11,032 17,631 994,699 190,952 l4o,l37 176,364 27,589 12,631 3,883 8,853 91,426 381,047 10,376 43,232 418,808 196,817 152,516 967,110 178,321 136,304 167,511 81,050 337,815 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 4,536,632 341,000 1,035,000 337,000 Eligible paper 7,308 672 2,394 l,l4l U. S. Gov't securities 20,000 --Total collateral 4,563,940 341,672 1,037,394 338,l4l 445,000 209,000 156,000 1,000,000 196,632 142,500 177,000 93,500 404,000 321 557 678 81 55 75 612 299 423 -r 20,000 445,321 209,557 176,678 1,000,081 196,687 142,575 177,612 93,799 404,423
@FedFRASER