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STATEMENT FOR THE PRESS Released f o r tniblication Friday morning, Mar# 23; not e a r l i e r . B-801 Federal Reserve Board March 22, 193^# CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended March 21, as reported by the Federal Res-erve banks, was $2,521,000,000, a decrease of $lU,000,000 compared \nth the preceding week and of $590,000,000 compared with the corresponding week in 1933* On March 21 t o t a l Reserve bank credit amounted to $2,502,000,000, a decrease of $2U, 000,000 f o r the week. This decrease corresponds with increases of $35»000,000 in monetary gold stock and $11,000,000 in Treasury and National bank currency and decreasesof $11,000,000 in money in circulation and $5,000,000 in member bank reserve balances, o f f s e t in part by increases of $26,000,000 in Treasury cash and deposits with Federal Reserve banks and $12,000,000 in nonmember deposits and other Federal Reserve accounts* The System1 s holdings of b i l l s discounted and of b i l l s bought in open market declined $4,000,000 each and of Treasury c e r t i f i c a t e s and b i l l s $132,000,000, while holdings of United States Treasury notes increased $132,000,000. Changes in the amount of f.eserve bank credit outstanding and in related items draring the week and the year ended March 21, 193^* were as f o l l o w s : Increase or decrease since Mar. 21 19ft (In Bills Bills U. S. Other discounted bought Government securities Reserve bank credit T O m RESERVE BANK CREDIT Monetary gold stock Treasury and national bank currency Money i n circulation Member bank reserve balances Treasury cash and deposits with F.R.banks Nonmember deposits and other F.R. accounts Mar. lb Mar. 22 193? millions of dollars) 51 33 -U J+ -9 -17 +563 -s +35 +11 +3,663 +70 -11 - 5 -987 +1,531 2.U32 2,50s 7.6UO 2,3^3 5.33* 3,hks 3,252 1+56 -629 -319 -3S2 +26 +12 +2,820 -20 Released f o r publication Friday morning, March 23,1934; earlier. B-SOla ASSETS AED LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBIFED ( I n thousands of d o l l a r s ) Mar. 21,193*1 Mar. 14,1934 Mar. 22,1933 ASSETS Gold c e r t i f i c a t e s on hand and due from U. S. Treasury . Gold . . • • . . . . . . . « • • « . . Redemption fund - F. R. no.tes Other cash . Total reserves . Redemption fund - F. R. "barf.5: notes . . B i l l s discounted: Sec. by U.S. Government obligations . Other "bills discounted . . . . . . . Total b i l l s discounted . . . . B i l l s bought in open market U.S.Government securities: Bonds Treasury notes . . . . . . . . . . . C e r t i f i c a t e s and b i l l s Total U.S.Government securities Other securities . . . . . Total b i l l s and securities Dae from f o r e i g n banks . . . • • • • • Uncollected items . . . . . . . . . . Bank premises . . . Fed. Dep. Ins. Corp. stock . . . . . . A l l other assets . K270,695 — 33,568 220,131 >+,252,321 — 3M44 217,411 304,24l 503,776 3,1+96,563 7I+0 12,607 51,412 42,280 5U,SS7 327,313 352,293 630,111 33,250 37/459 352,315 HH2,S65 l,22Uf0U3 76MS7 1,092,063 396,902 1&2.S75 1+22,627 457,374 933,336 2,1*31,395 563 2,517,120 2,U3l,sUo 1,361+,337 653 5,1+06 10,363 11f605 39,307 3,132 1M31 U1+9 f )|Us 52,431 69,650 11,1+95 2,524,339 3,132 15,907 432,653 52,1+31 43,934 69,650 50,965 7,690,90s 7,714,353 F. R. notes in actual circulation # . 2,984,943 F.R.bank note circulation - net . . . 143,377 Deposits: Member bank - reserve account . . . 3,^9,269 24,009 Government . . . Foreign bank . . 7,373 24,106 Special deposits - member "bank . . . 11,036 nonmember bank . 111,333 Other deposits . Total deposits . . . . . . . 3,627,636 Deferred a v a i l a b i l i t y items 1+62,158 Caoital t>aid in . 145,731 Surplus . . . . . . . . . . 138,333 Subscription f o r Fed. Dep. Ins. Corp. stock Paid 69,650 Called f o r payment on April 15 . . . 69,650 A l l other l i a b i l i t i e s . . . . . . . . 4s,sso 2,929,052 TOTAL ASSETS 932,216 2,155,095 105,011 2,902,219 3,613 36,361 1+21,152 5^.037 — 51,051 6,966,236 L I A B I L I T I E S TOTAL LIABILITIES 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 . . . . . 7,690,90s 6s.4# 4,935 153,371 3,454,492 16,12s 3,994 25,316 11,1+05 97,7^7 3,6ll+,OS2 U7S.730 145,320 133,333 59,650 69,650 3,916,3^2 9,269 1,917,613 111,1+72 ll+, 1+91 52,754 9,120 49,449 2,154,904 1+30,31+1 149,793 273,599 — — 50,115 26,4ss 7,714,353 6,966,236 63.2$ 4,939 5lM 42,505 ASSETS AMD LIABILITIES OP THE FEDERAL RESERVE BANKS 01? MARCH 21, 1934 ( I n thousands of d o l l a r s ) ASSETS Total Gold c e r t i f i c a t e s on hand and due from U. S.. Treasury Redemption fund - F.R notes Other cash Total reserves Redemption fund - F.R.hank notes B i l l s discounted: Sec. by U.S.Govt, obligations Other "bills discounted Total h i l l s discounted B i l l s "bought in open market U. S. Government s e c u r i t i e s : Bonds Treasury notes C e r t i f i c a t e s and h i l l s Total U.S.Govt, Other s e c u r i t i e s securities Total h i l l s and s e c u r i t i e s Dae from foreign hanks F . R. notes of other hanks Uncollected items Bank premises Fed. Dep. I n s . Corp. stock A l l other assets TOTAL ASSETS Boston New York Phila. 4,270,695 319,016 33,56s 1,352,839 280,529 3,476 3,118 2,779 52,109 35,S96 17,937 Cleve. Rich. Atlanta 33s,406 150,765 3,550 14.3S7 1,744 9,035 123,795 3,095 10,743 220,181 4,524,444 339,732 1,408,066 319,901 356,343 161,544 137,633 269 2,744 900 1,216 10,868 1,250 — 11,605 Chicago St.Louis 950,826 174,802 113,892 1,471 733 104 13,527 314 1,442 80 958 274 1,233 24,057 16,078 3,138 1,756 1,038 1,507 156 260 5,294 2,400 2,090 2,650 1,128 1,102 2,894 164,758 1,224,043 764,987 24,400 81,854 51,427 28,069 32,159 85,411 111,080 53.640 69,785 14,127 48,786 30.650 13,090 44,956 28,261 2,431,595 157,631 93,563 86,307 39.S07 17,260 51,412 1,672 33,250 442,865 2,517,120 164,647 3,132 14,831 449,448 52,431 237 375 45,352 3,224 5,H5 971 48,984 393,931 7,690,90s 560,903 2,551 238,066 796,755 167,120 213,024 53 563 69,650 6,797 510 — 823,265 185,79S 218,812 1,196 3,274 117,433 11,424 21,265 30,366 342 446 37,052 300 900 41,721 7,310 5,413 7,073 1,525 4,016 6,738 — 1 870 — 266,863 764 155 5 871 338 1,088 886 1,113 9,058 3,547 76,950 218,023 142,370 14,493 48,338 30,369 16,316 30,297 19,039 14,112 42,580 26,752 19,280 32,055 20,l40 25,111 86,732 54,488 437,343 93,200 -j- 65,652 33,444 71,475 166,331 441,744 94,548 67,409 84,395 80,638 170,470 7 611 10,664 1,657 1,755 33 1,5H 27,243 3,^85 654 83 268 16,737 1,755 2,180 793 222 l,4o6 24,214 4,090 4,925 770 250,477 1,469,082 296,719 197,84o 300,769 217,453 473,724 — 88,447 119 109 1,136 14,780 2,372 2,419,033 561,173 63U,67S 309,052 180,327 114,515 474 500 547 100 105 96,447 1,020 41,726 3,123 2,904 2,164 Minn. Kans.Cy. Dallas San Fran, 915,042 163,493 102,732 169,830 107,120 247,128 801 1,274 5,254 1,289 6,475 713 9,696 6,632 14,481 29,309 10,035 9,371 750 2,388 574 1,098 B-801-b 2,636 3,045 — 4i4 2,349 53,481 7,382 9,874 1,541 10 1,485 19,045 3,110 2,547 439 — 1,29s 338 — — 2,066 437 592 — ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MARCH 21, 1934 ( I n thousands of d o l l a r s ) L I A B I L I T I E S Total Boston 2,984,943 224,355 143,877 20,4l4 New York Phila. Cleve. Rich. Atlanta F. R_.no tes in actual circulation 609,647 236,074 293,7^7 145,994 F.R.barik note circulation - net U9,505 17,539 13,923 — Deposits: Member "bank - reserve account 3,449,269 228,898 1,1+16,621 211,335 235,301 98,705 Government 2*1,009 2,562 2,570 2,1+12 1,1+82 l+,020 Foreign bank 7»378 565 391 3,825 206 522 Special deposits: member bank 24,10$ 155 1,352 4,394 3,236 1,132 1,056 2,078 nonmember bank 11,036 591 89 1+6.1+20 1+.611 1,318 2,961 6,332 Other deposits 111,538 Total deposits 3,627,636 238,338 1,1+71,81+1+ 225,395 21+1,91+8 107,615 Deferred a v a i l a b i l i t y items 462,158 1+5,652 125,168 35#575 1+1,311+ 38,200 10,691 Capital p a i d in 145,731 59,123 15,61+1 12,699 l+,982 9,610 45,217 13,352 li+,090 5,171 Surplus 138,383 Subscription f o r Fed. Dep. I n s . Corp. stock: 21,265 7,310 7,073 2,901+ Paid 69,650 5,115 2,90l+ 21,^65 7,310 7,073 Called f o r payment on .April 15 69,650 5,115 1,282 2^982 2,811 15,999 1,613 A l l other l i a b i l i t i e s 4g,880 TOTAL LIABILITIES 7,690,908 560,903 2,419,033 561,178 634,67s 309,052 Ratio o f t o t a l reserves to deposit and F . R . note l i a b i l i t i e s combined 68.1* Contingent l i a b i l i t y on b i l l s p u r chased f o r f o r e i g n correspondents 4,935 73.4 67.6 348 69.3 1,773 66.5 503 464 126,119s 2,998 77.053 1,196 190 1,651+ 294 8.351 88,738 1M55 i+,i+05 5,1^5 184 Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 770,146 135,739 96,768 108,836 1+0,735 l96,Hoi+ 9,005 7,387 5,092 l+,260 4,722 9,032 562,029 100,151+ 891+ 2,317 179 685 6,701+ 1.951 66,779 135,771 125,279 191,3**4 1,072 1,682 2,052 1,750 125 152 386 152 1,181 1,329 709 309 611 342 5,975 1,329 IiSQSl M 1 9 10.618 2,039 573,061+ 118,658 7i*,32l* 11+8,791* 129,1*61 20?rl*57 58,260 20,033 10,53^ 26,270 19,714 26,783 12,825 3,906 2,8l+9 I*,o63 3,890 10,657 20,681 4,756 3,1*20 3,613 3,683 9,61*5 2,636 9,874 2,066 2,180 4.925 2,547 1,755 2,636 9,874 2,066 2,180 4,925 2,547 1,755 2,766 l,ll+6 801 10,888 1,896 250,477 1,469,082 296,719 197,840 300,769 217,453 473,724 63.9 63.7 B-SOlc 169 70.8 68.7 609 66.6 160 ill 70.0 67.3 135 65.8 135 344 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES B i l l s discounted B i l l s bought in open market C e r t i f i c a t e s and b i l l s Municipal warrants Total Within 15 days 51,412 33,250 764,987 36,605 9,374 90,095 510 563 } 6 to 30 days 2,964 12,346 65,338 31 to 60 days 4,757 7,677 137,930 6 l to 90 days 6,774 3,853 106,816 91 days to 6 months 274 160,599 53 Over 6 months 38 204,209 FEDERAL RESERVE HOT! STATEMENT Oil MARCH 21, I93U ( I n thousands of d o l l a r s ) Total Federal Reserve notes: Issued to F.R.bank "by F.R.Agent Eeld "by Federal Reserve "bank Boston 3,2^9,829 239,105 26U,8g6 iUt750 In actual circulation 2,98^4,9^3 22U,355 Collateral held by agent as security f o r notes issued to "bank:: Gold c e r t i f i c a t e s on hand and 2,88U,152 237,672 due from U.S. Treasury 56,1+71 S9ksh E l i g i b l e paper 31+6,700 U.S. Govt, securities 3,237,323 244,156 Total c o l l a t e r a l New York Phi l a . Cleve. Rich. Atlanta B-S01d:. Chicago St.Louis Minn. KaXLS.Cy. Dallas Sail Fran. 629,823 251,519 3iof572 15^652 1^6,870 80,176 15,HH5 16,825 8,658 20,372 609,61+7 236,07U 293,7117 lU5,99U 126,^98 807,520 1^0,832 101,652 115,817 U6,nU 2^5,353 683,706 225,000 252,886 121,399 97,385 15,870 7,1+62 i+,307 1,982 i,ir03 20,000 55,000 32,000 50,000 699,576 252,1+62 312,193 155,3^1 lUg,7Sg 732,713 121,936 81,W+ 11^,290 37,958 177,763 2,635 1,209 1*310 1,229 9,016 3,56^4 37,37^ 5,093 6,981 5,37? *j3»9**9 770,1^6 135,739 96,76s 108,836 Uo,735 1 9 6 , ^ 82,000 3 9,000 20 # 700 3.000 S17,3!+S 1^2,1U5 103,451+ l i s , 519 — 6*5,000 U6,97U 246,327 FEDERAL RESERVE BMK NOTE STATEMENT Oil MARCH 21, 193^ ( I n thousands of d o l l a r s ) Federal Reserve "bank notes: Issued to F.R.Bank (outstanding) Seld by Federal Reserve "bank In circulation - net* Total Boston Hew York Phila. Cleve. Rich. Atlanta 159,36U 15, 21,173 759 52,978 3,^73 2H,077 6,53S 1M50 727 — -- 3,909 911 11+3,877 20,1+iU 119,505 17,539 13,923 — 2,99s 973 188,77^ 30,000 5U, 27I+ 26,500 15,000 189,7^7 30,000 5^.27^ 26,500 15,973 Chicago St.Louis ia,n6 1,111 9,005 Minn. Kans.Cy. Dallas San Fran, 7.53^ 1^7 5,372 280 4,1+02 1U2 7,387 5,092 U,26o U77 U,722 5,199 9,95^ 922 9,032 Collateral pledged against outstanding notes: Discounted and purchased bills U. S. Govt, securities Total - - - 973 - — 4,000 11,000 11,000 10,000 5,000 7,000 15,000 l+,000 11,000 11,000 10,000 5,000 7,000 15,000 *Does not include $1+1,335,000 of Federal Reserve bank notes f o r the retirement of which Federal Reserve banks have deposited lawful money with the Treasurer of the United States.
@FedFRASER