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STATEMENT FOR THE PRESS Released for publication Friday morning, March. 20; not e a r l i e r . Board of Governors of the Federal Reserve System March 191 193^ C01TDXTI0IT OF FEDERAL RESERVE BA1TKS The d a i l y average volume of Federal Reserve bank c r e d i t outstanding during the week ended March IS, as reported by the Federal Reserve banks, v/as $2,^72,000,000, an increase of $4,000,000 compared with the preceding week and of $17,000,000 compared with the corresponding week in 1935* On March IS t o t a l Reserve bank c r e d i t amounted to $2,US5,000,000, an increase of $12,000,000 for the week. This increase corresponds with an increase of $67S,OCOfOOO in Treasury cash and deposits with Federal Reserve banks, o f f s e t in part by decreases of $6^2,000,000 in member bank reserve balances and $22,000,000 i n nonmember deposits and other Federal Reserve accounts and an increase of $3,000,000 in monetary gold stock* Member bank reserve balances on March IS were estimated to be $2,39°»000,000 in excess of l e g a l requirements* R e l a t i v e l y small changes were reported in holdings of discounted and purchased b i l l s and i n d u s t r i a l advances. An increase of $50,000,000 in holdings of United States bonds was o f f s e t by decreases of $^0,000,000 in holdings of Treasury notes and $10,000,000 in holdings of Treasury b i l l s . Changes in the amount of Reserve bank c r e d i t outstanding and in related items during the week and the year ended March IS, 193^, were as follows: Increase or decrease since Mar. 13 1956 Liar, 11 193,6 Mar. 20 1935 (In m i l l i o n s of d o l l a r s ) B i l l s discounted B i l l s bought U. S. Government s e c u r i t i e s Industrial advances (not including 26 m i l l i o n commitments - Marcli IS) Other Reserve bank c r e d i t TOTAL RESERVE BANK CREDIT Monetary gold stock Treasury and national bank currency Money in c i r c u l a t i o n Member bank reserve balances Treasury cash and deposits with F.R.banks Honmember deposits and other F.R.accounts 6 , 5 2,1+30 30 +1 -2 — — — - — — +10 +23 lb +11 2/4S5 10,173 2,503 +12 ,+3 +30 +1,619 -13 +1 -6U2 +67S -22 +3SS +7S3 +367 +92 5.1UU 3,527 589 (B-SOi) Released, f o r publication Friday morning, March 20,1936; not e a r l i e r . B-SOla ASSETS AliD LIABILITIES OP THE TWELVE FEDERAL RESERVE BA2TKS C0MBI1IED (In thousands of d o l l a r s ) liar. 18,1936 liar. 11.1936 Mar. 20.1935 7.667,338 15.019 31+6,078 8,028,1+35 — 7,667,830 15.253 3W.92S 8,028,011 — 5,567,221 15.S77 252.657 5.S35.755 5 2,857 2.773 5.630 *2,30G *2.6l2 l+,920 ^.^87 3.170 7.657 A S S E T S Gold c e r t i f i c a t e s on hand and due from U. S. Treastixy Redemption fund - F. R. notes Other cash Total reserves Redemption fund - F . R. bank notes . . . B i l l s discounted: Socured by U.S.Gov't o b l i g a t i o n s , d i r e c t and/or f u l l y guaranteed Other b i l l s discounted Total b i l l s discounted B i l l s bought in open market . . . . . . Industrial advances U. S. Government s e c u r i t i e s : Bonds • • . . Treasury notes Treasury b i l l s . . . . . Total 17.S. Sovernment s e c u r i t i e s . U-, 679 30,321 ^,676 30,195 5.299 20,l+0§ 265. 756 1.55^.896 609.667 2,1+30,319 215,726 1.59^,6^8 619.913 2,1+30,287 391,980 1,49^,667 5^3.660 2,1+30,307 Other s e c u r i t i e s Total b i l l s and s e c u r i t i e s . . . . Dud from foreign banks F» R. notes of other banks Uncollected items . Bank premises A l l other a s s e t s 181 2,1+71,130 6H1+ 17.670 636,336 1+7,861+ 35.5^ 181 2,1+70,259 61+7 18,33*+ 509,1+19 ^7,865 1+2.006 2,1+63,672 70S l6,b8l+ 509,7^+2 >+9,52l+ 1+1.359 11,237,628 11,116,51+1 8,917,^9 3.730,979 — 3,731,53^ -- 3,139,753 100 5,11+3,768 1,067, 6bt0l6 261.3*0 6,539,128 622,988 130,71+1 1^,501 26,§13 3^,100 5,786,173 391,113 6**,391 , 272,513 C^^.lS? 507,067 130,638 1^+5,501 26,513 ^,107 ,,„ *+,361,278 309,517 16,1+30 226.393 i+,^13,618 519*167 ll+6,$2l+ lM+,893 l*+,366 30,815 ZaiU 11,237,628 11,116,541 8,917,^9 TOTAL ASSETS L I A B I L I T I E S F„ R. notes i n a c t u a l c i r c u l a t i o n . . . F . R. bank note, c i r c u l a t i o n - net . . . Deposits: Itenber baaie - reserve acco\»t . . . . . U,S.Treasurer - General *coount . . . . Foreign bank » Other deposits go.t»l deposits . * * Deferred a v a i l a b i l i t y items Capital paid in . Surplus (Section 7) Surplus (Section 13 b) . . . . . . . . . Reserve f o r contingencies . . . . . . . All o ^ r . SOSAL % % m u w m Ratio of t o t a l reserves to deposit and F. R. note l i a b i l i t i e s combined . . . , Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents Commitments to make i n d u s t r i a l advances 78.2$ — 25,537 78.1$ — 25,709 •Revised. 72.5$ 206 15,551 ASSETS MD LIABILITIES OP THE FEDERAL ESSERVE BAMS OH MARCH IS, 1936 (In thousands of d o l l a r s ) B-S01b A S S E T S Total Boston Hew York Phila. Cleve. Rich. A t l a n t a Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold c e r t i f i c a t e s on hand and due f r o m u . S . Treasury 7,667,338 573,999 3,099,932 407,931 55^,205 273,802 208,1+70 1,379,220 209,54o 170,301 193,769 150,^25 41*0,744 Redemption fund - F . R. notes 15,019 2,726 1,078 626 1,035 830 2,397 318 l,l44 464 1,201 569 2,631 other cash 346,078 4i,34o 90,994 42,218 33,259 16,590 11.346 45,397 16,652 7,847 20,715 5,065 14,655 8,028,435 618,065 3,192,004 450,775 588,499 296,222 222,213 1,424,935 227,336 178,612 215,685 156,059 1+58,030 Total reserves B i l l s discounted: Secured by U.S.Govt. o b l i g a t i o n s , —— — 90 d i r e c t and/or f u l l y guaranteed 2,857 143 4o 2 4io 92 3 35 55 1,987 l45 4i l44 24 Other "bills discounted 18 61 12 85 32 2,163 2,773 15 33 Total "bills discounted 4i 145 146 114 5,630 4,150 124 50 21 176 471 67 125 44o 472 190 164 580 61 B i l l s bought in open market 4,679 327 87 133 133 349 1,743 1,474 1,184 504 1,110 865 2,208 Industrial advances 2,762 3,854 30,321 1,711 7,617 5,477 1,555 S. Government s e c u r i t i e s : Bonds 265,756 17,957 69,023 20,755 23,973 12,834 11,019 28,965 13,492 14,560 13,013 18,247 21,918 Treasury notes 1,554,896 103,893 486,069 116,714 144,293 77,244 66,320 174,338 81,704 45,55s 77,206 49,636 131,921 609,667 35,S2S Treasury b i l l s 122,861 28,004 15,531 26,625 17,117 45,492 179,291 39,651 49,759 26,63s 22,870 Total U.S.Govt. s e c u r i t i e s 2,430,319 157,678 326,164 123,200 75,649 116,844 85,000 199,331 734,383 177,120 218,025 116,716 100,209 Other s e c u r i t i e s — — __ — — — — — 181 181 Total b i l l s and s e c u r i t i e s 2,471,130 160,965 747,293 183,540 220,144 120,810 101,305 328,993 123,SI2 77,309 118,487 86,990 200,882 Due from foreign "banks 644 50 4 28 78 23 3 19 19 253 63 59 45 F.R.notes of other banks 1,160 320 1,286 17,670 5,308 2,480 836 487 1,0a 973 1,393 707 1,699 Uncollected items 149,386 50,790 58,823 54,705 24,428 636,336 61,576 85,563 27,949 15,067 37,871 32,262 37,916 Bank premises 47,864 3,360 3,580 4,926 2,284 4,828 1,524 2,451 10,823 6,525 3,113 1,531 2,919 A l l other a s s e t s 419 184 826 244 1,490 1,018 302 202 35,549 25,491 465 , 1.352 3.556 TOTAL ASSETS 11,237,628 8l+l+,291 4 , 1 3 1 , 1 5 3 694,357 876,513 476,723 353,301+ 1,81+7,29 6 382,896 273.823 377,117 278,167 701,983 ASSETS AMD LIABILITIES OP THE FEDERAL RESERVE BAKES 017 LURCH 18, 1936 (In thousands of d o l l a r s ) B-SOlc L I A B I L I T I E S Total Boston Hew York Phila. Cleve. Rich. Atlanta F.R.notes in actual circulation 3,730,979 3 3 8 , 7 8 7 . 5 7 9 277,056 358,S6l 175,123 160,006 Deposits: 5,1^3,762 304,209 2,346,420 280,114 336,394 202,302 116,506 Member bank - reserve account U.S.Treasurer - General account 1,067,364 102,373 502,031+ 44,32s 33,320 23,352 31,971 66,016 6,12s Foreign "bank 4,376 24,172 6,06; 2,399 2,306 ,063 261,9S0 Other deposits 6,137 204,242 2,324 5,672 1,876 ,37^ Total deposits 6,539,128 418,095 3,076,86s 332,446 434,151 236,377 156,455 Deferred a v a i l a b i l i t y items 622,9S3 63,935 145,027 51,559 51,796 50,611 23,603 Capital paid in 130,741 4,234 4,592 9,395 50.925 12,324 12,549 Surplus (Section 7) 5,616 145,501 50,825 14,371 5 , 1 8 6 9,902 13,406 Surplus (Section 13b) 754 26,513 7,744 1,007 3,448 2,874 4,231 Reserve f o r contingencies 2,503 34,100 3,349 1,413 1,257 3,111 3,000 123 A l l other l i a b i l i t i e s 7,673 233 3,341 129 667 335 TOTAL LIABILITIES Chicago St.Louis Iiinn. Kans.Cy. Dallas San Fran, 859,653 162,343 111,709 1^3,073 74,325 232,307 713,797 139,623 110,835 165,244 135,758 292,061 132,584 31,229 20,153 18,434 13,203 53,373 4,547 1,977 1,582 1,911 1 , 9 1 1 7,644 12,675 8.105 4.345 934 3,078 9,7is 357,103 130,939 136,920 186,523 160,595 362,656 s6,4oi 29,525 16,252 37,776 32,469 34,034 12,046 3,762 3,016 3,947 3,802 10,149 9,645 21,350 4,655 3,149 3,613 3,7"3 1,121 1,391 546 1,003 1,142 1,252 1,349 7,573 892 1,477 343 1,328 1.779 222 234 gQ7 200 in 11,237,62s 844,291 4 , 1 3 1 , 1 5 s 694,357 376,513 476,723 353,304 1,347,296 382,396 273,823 377,117 273,167 701,983 Ratio of t o t a l reserves to deposit and F.R.noto l i a b i l i t i e s combined 7^.2 Commitments to make i n d u s t r i a l advances 25,537 SI.7 82.6 3,281 9,859 74.0 74.2 335 1,607 72.0 70.2 385 2,305 83.0 66.2 86 71.8 1,950 65.4 106 663 66.3 71.0 5S7 4,373 HATURITY DISTRIBUTION OF BILLS MD SECURITIES Total B i l l s discounted B i l l s bought Industrial advances U.S. Government s e c u r i t i e s Other s e c u r i t i e s 5,630 4,679 30,321 2,430,319 1S1 Within 15 days 4,263 1,781 1,764 22,674 16 to 30 days 129 428 i4g 9,200 31 to 60 days 485 1,630 452 46,Si6 6l to 90 days 633 S40 482 93,133 91 days to 6 months 104 1,689 368,760 Over 6 months 16 25,785 1 , '89,736 181 FEDERAL RESERVE NOTE STATEMENT ON MARCH 18, 1936 (In thousands of d o l l a r s ) B-SOld Total Federal H686i*V6 no toss Issued to F.B.bank by F . E ^ g e n t Held by Federal Reserve 'bank in a c t u a l c i r c u l a t i o n Boston 00^,698 356,690 273,719 18,2^6 New York Phila. Cleve. Rich. A t l a n t a 888,162 290,133 373,^97 183.976 179.^66 100,583 13,077 I M 3 6 8,853 19.^60 Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 89M6U 170,089 115,^21 1 5 1 , 1 1 5 35.111 7,7^6 3»712 8,0*12 80,362 5.537 321,023 3Ml6 277.056 35S,86i 175,123 160,006 859,653 162,3^3 i l l , 7 0 9 1^3.073 7M25 282,307 905,70$ 291,000 3 7 5 , ^ 186,000 155,685 2,km kjS 92 35 55 -— — — 27,000 900,000 152,632 116,000 136,000 — 11 108 127 —» 18,000 — 17,000 81,500 300,263 130 90 — 26,000 908,150 291,^39 375,532 186,035 182,7^0 900,000 170,6^3 1 1 6 , 1 0 s 153,127 81,630 326,353 3,730,979 3 3 8 , 7 8 7 , 5 7 9 C o l l a t e r a l held by agent as sec u r i t y f o r notes issued to bank: Gold c e r t i f i c a t e s on hand and due from U. S . Treasury 3,966,8^3 366,617 E l i g i b l e paper 3,681 15O U. S . Gov't s e c u r i t i e s 88,000 Total c o l l a t e r a l H,058,521* 366,767
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