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Form FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, Mar. 18; not earlier, Board of Governors of the Federal Reserve System March 17, 193& CONDITION OF FEDERAL RESERVE BANKS During the week ended March 16 member bank reserve balances increased $17,000,000, Additions to member banks reserve, arose from decreases of #6,000,000 in money in circulation, $12,000,000 in Treasury cash and $56,000,000 in nonmember deposits and other Federal Reserve accounts and increases of $14,000,000 in Reserve bank credit, $10,000,000 in gold stock and $2 ,000,000 in Treasury currency, offset in part by an increase of $83,000,000 in Treasury de posits with the Federal Reserve banks. Excess reserves of member banks on March 16 were estimated to be approximately $1,460,000,000, a decrease of $10,000,000 for the week. Inactive gold included in the gold stock and in Treasury cash amounted to $1,188,000,000, unchanged for the week. The principal changes in holdings of bills and securities were an increase of $21,000,000 in United States Treasury bonds and a decrease of $21,000,000 in United States Treasury notes. Changes in member bank reserve balances and related items during the week and the year ended March 16, 1938, were as follows i Increase or decrease since Mar. 16 1938 Mar, 9 1938 Mar. 17 1937 (in millions of dollars) Bills discounted Bills bought U. S, Government securities Industrial advances (not including 13 million commitments - March 16) 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 Honmember deposits and other F. R. accounts 8 1 2,564 --------- +4 -2 +134 +l4 -6 +29 2,608 12,778 2,672 +14 +10 +2 +158 +1,263 +134 7,328 6,328 3,550 264 589 +17 -6 -12 +83 -56 +498 -57 +853 +177 +85 17 18 MMM Form FR-*283-a Released for publication Friday morning, March 18,1938? not earlier ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Mar. 16. 1938 Mar. 9. 1938 Mar. 17. 1937 9,188,602 9,600 478.179 9,676,381 9,178,601 9,104 471.610 9,659,315 8,844,-417 12,523 265.865 9,122,805 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 Total bills and securities . . . Due from foreign banks . ...... F. R. notes of other banks . . . . Uncollected items . . ........ Bank premises . ........... . All other assets ............ TOTAL ASSETS ........ 5,193 2.956 8,149 542 17,259 5,366 3,170 ,■J.,.0.52 _______ 1*164 8,419 4,334 542 3,079 17,357 22,653 723,595 1,164,191 676.229 2,564,015 702,683 1,185,103 676.229 2,564,015 589,725 1,261,343 579.159 2,430,227 2,589,965 177 20,613 742,758 44,865 40.698 2,590,333 178 17,644 500,039 44,861 49.250 2,460,293 230 20,740 804,811 45,987 40.858 13,115,457 12,861,620 12,495,724 4,124,888 4,134,017 4,172,763 7,328,137 263,623 103,356 222.136 7,917,252 724,619 133,297 147,739 27,683 32,950 7.029 13,115,457 7,310,761 180,851 117,260 272.052 7,880,924 496,700 133,265 147,739 27,683 32,985 ... 8,10.7 12,861,620 6,829,578 86,538 88,588 154.860 7,159,564 815,722 132,242 :i45,S54 27,490 36,166 .5,921 12,495,724 80.4$ 80.5$ 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 pur chased for foreign correspondents Commitments to make industrial advances 80.4$ 630 12,911 640 --------*12,995 *Revised* 19,178 Form FR-283—b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MARCH 16. 1938 (in thousands of dollars) ASSETS Total Boston New York Phila, Gold certificates on hand and 9,188,602 492,810 3,777,331 466,545 due from U. S. Treasury 9,600 500 1,835 977 Redemption fund - F.R. notes 478,179 49,855 117,567 37,489 Other cash Total reserves 9,676,381 543,165 3,896,733 505,011 Bills discounted! Secured by U.S.Gov*t obligations, direct or fully guaranteed 64l 5,193 1,859 975 Other bills discounted 2,956 354 588 85 Cleve. Rich. Atlanta Chicago St.Louis Minn# Kans.Cy. Dallas San Fran. 646,291 279,613 232,810 1,700,527 279,256 181,533 258,804 177,698 695,384 658 657 338 847 1,265 642 412 462 1,007 74,066 14,272 10,094 29,075 13,479 41,958 43,793 27,528 19,003 690,741 307,988 253,078 1,775,251 294,170 191,965 288,291 191,639 738,349 306 166 500 208 426 542 65 12 60 4o 472 708 24 1,696 968 77 68 682 100 _ 75 138 433 58 255 165 198 75 2 562 571 16 467 313 16 913 363 39 1,375 — Total bills discounted 726 8,149 Bills bought in open market 4l 542 Industrial advances 17,259 2,668 U. S. Government securities* Bonds 723,595 53,125 Treasury notes 1,164,191 85,469 Treasury bills 676,229 49,645 208,711 59,718 335,794 96,082 195,049 55,810 71,411 38,464 30,327 114,891 61,886 48,793 66,736 35,947 28,341 79,693 32,307 23,493 37,281 28,154 60,911 128,220 51,979 37,798 59,981 45,300 97,998 74,477 30,192 21,955 34,841 26,313 56,923 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 99,767 215,832 746,306 216,522 72 17 4,067 782 188,986 54,561 9,940 4,805 11,882 3,972 254,556 138,725 108,570 6 16 7 1,406 1,811 1,801 76,794 56,428 28,728 6,190 2,687 2,112 4,509 2,485 1,623 283,217 114,735 83,885 133,157 101,009 2 21 2 5 12 5 3,665 2,296 580 1,436 427 2,086 105,132 29,739 16,557 36,569 2.9,902 51,633 4,569 2,333 1,497 3,142 1,269 3,329 3,798 1,591 l,4ll 1,883 1,515 3,496 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 2,589,965 191,674 177 12 20,613 256 742,758 67,729 44,865 2,992 40,698 2,533 2,213 207 4,332 1,563 56 3,293 51 995 19 122 3 154 13,115,457 808,361 4,857,986 785,670 1 ,034,212 510,131. 395,918 2,175,653 4M,866 295,897 464,483 325,7663£L6,5l4 Form FR—283—c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MARCH 16, 193® (in thousands of dollars) LI A B I L I T I Total Boston New York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 4-,124,888 279,051 911,594 310,849 Deposits* Member bank - reserve account 7,328,137 413,652 3,350,924 362,04l U.S.Treasurer - General account 263,623 7,4l4 87,561 12,384 Foreign bank 103,356 7,385 37,607 10,052 Other deposits 222,136 4,748 175,346 1,109 414,569 196,877 152,068 964,945 178,553 136,395 165,938 465,345 221,910 184,209 34,967 13,462 11,119 9,437 4,410 3,590 4,119 5,250 2,785 989,010 203,351 122,679 238,770 188,797 587,449 56,956 11,720 5,824 9,002 6,699 6,515 12,206 3,077 2,359 2,975 2,975 7,283 1,282 5,970 3,725 467 3,434 13,901 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 513,868 245,032 201,703 1,059,454 224,118 134,587 251,214 201,905 615,148 73,448 53,198 29,212 106,238 31,638 15,514 37,165 32,593 42,940 13,094 3,894 2,902 4,144 3,938 10,146 13,157 4,948 4,^51 22,387 4,667 3,153 3,613 3,892 9,805 14,323 4,964 5,626 1,007 3,409 730 545 1,001 1,142 1,270 2,121 1,429 934 1,776 2,000 3,177 l,4oi 1,603 7,257 1,215 1,929 236 4l6 663 208 302 849 525 333 489 TOTAL LIABILITIES 7,917,252 433,199 3,651,438 385,586 724,619 71,879 174,285 56,509 133,297 9,4o4 50,943 12,276 51,943 13,466 147,739 9,900 7,744 4,4ll 27,683 2,874 32,950 1,448 8,210 2,000 606 7,029 1,829 573 80,184 333,865 13,115,457 808,361 4,857,986 785,670 1,034,212 510,131 395,918 2,175,653 444,866 295,897 464,483 325,7661/3-6,514 Contingent liability on bills purchased for foreign correspondents 630 Commitments to make industrial advances 12,911 46 220 63 59 27 22 1,485 4,273 146 1,462 1,549 281 76 19 15 19 19 45 485 4l 97 268 2,824 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Bills discounted Bills bought Industrial advances U. S. Government securities Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days 8,149 542 17,259 2,564,015 6,489 47 1,577 86,903 426 584 379 330 158,638 320 II6 463 183,218 - — 4l6 56,482 91 days to 6 months 6 months to 1 Year 316 1,830 369,693 14 ----- 3,308 123,851 1 Year to 2 Years 2 Years to 5 Years mm ----- 5,142 348,214 Over 5 Years mm ----- 4,193 574,647 — - ----- 662,369 Form FR—283-d FEDERAL RESERVE NOTE STATEMENT ON MARCH 16, 1938 (In thousands of dollars) Total Eoston New York Phila. Federal Reserve notes: Issued to F.R.bank by F.R,agent Held by Federal Reserve bank In actual circulation Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, 4/39,952 313,950 1,009,311 332,045 315,064 34,899 97,717 21,196 441,830 207,050 169,252 27,261 10,173 17,184 987,906 190,372 l4o,439 175,765 90,812 381,220 2,2,961 11,819 4,044 9,827 10,628 47,355 4,124,888 279,051 4l4,$69 196,877 152,068 964,945 178,553 136,395 165,938 80,184 333,865 911,594 310,849 Collateral held by agent as securrity for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 4,532,632 341,000 1,025,000 337,000 Eligible paper 7,088 668 2,182 1,115 U. S. Gov’t securities 10,000 --— -— Total collateral 4,549,720 341,668 1,027,182 338,115 445,000 209,000 162,000 1,000,000 196,632 142,500 177,000 93,500 404,000 313 708 666 77 60 75 559 3U 354 —-10,000 —— -—— —— --445,313 209,708 172,666 1,000,077 196,692 142,575 177,559 93,811 404,354
@FedFRASER