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STATEMENT FOR THE PRESS Released for publication Friday morning, Mar. 26j not earlier. Board of Governors of the Federal Reserve System March 25, 1937. CONDITION OF FEDERAL RESERVE BANKS During the week ended March 2-4 member bank reserve balances decreased $252,000,000. Reductions in member bank reserves arose from increases of $192,000,000 in Treasury deposits with Federal Reserve banks, #82,000,000 in nonmember deposits and other Federal Reserve accounts and $26,000,000 in Treasury cash, offset in part by a decrease of $10,000,000 in moneyin circulation and increases of 026,000,000 in gold stock and $13,000,000 in Reserve bank credit. Excess reserves of member banks on March were estimated to be approximately #1,270,000,000, a decrease of #180,000,000 for the week. Inactive gold included in the gold stock and in Treasury cash amounted to $310,000,000 on March 2-4, an increase of $26,000,000 for the week. Principal changes in holdings of bills and securities were an increase of $42,000,000 in United States bonds and decreasesof .$30,000,000 in United States Treasury notes and $12,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended March 2-4, 1937, were as follows i Increase or decrease since Mar. 24 1937 Mar. 17 1937 Mar. 25 1936 (In millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 19 million commitments - March 24-) Other Reserve bank credit Total Reserve bank credit Gold stock Treasury currency Member b^nk reserve balances Money in circulation Treasury cash Treasury deposits with F. R. banks Nonmember deposits and other F. R. accounts 8 +4 +2 -2. 3 2,430 -8 23 -1 +10 -15 2,463 11,541 2,537 +13 +26 -1 +1,364 +35 6,578 6,375 2,723 279 586 -252 -22 -10 +1,519 +536 +26 +192 +82 -868 -15 (B-801) Released for publication Friday morning, March 26,1937; not earlier. B-801a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Mar. 2*4,1937 Mar. 17,1937 Mar. 25,1936 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 . . Other securities Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 8,844,385 12,095 270,407 9,126,887 8,844,417 12,523 265,865 9,122,805 7,665,840 14,873 353,632 8,034,345 6,175 1,517 7,692 3,310 22,666 3,170 1,164 4,334 3,079 22,653 3,327 2,738 6,065 4,674 30,501 631,784 1,231,343 567,100 2,430,227 589,725 1,261,343 579,159 2,430,227 — 265,711 1,554,893 609,667 2,430,271 181 2,463,895 2.32 19,810 618,002 45,973 42,933 2,460,293 230 20,740 804,811 45,987 40,858 2,471,692 650 19,311 527,356 47,865 35,973 12,317,732 12,495,72.4 11,137,192 4,166,726 4,172,763 3,732,333 6,578,279 278,659 102,999 223,223 7,183,160 619,573 132,236 145,854 27,490 36,176 6,517 6,829,578 86,538 88,588 154,860 7,159,564 815,722 132,242 145,854 27,490 36,166 5,923 5,059,147 1,146,565 64,576 275,801 6,546,089 514,646 130,724 145,501 26,513 34,105 7,281 12,317,732 12,495,724 11,137,192 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 . . . 80,4$ 80.5$ 78.2$ Commitments to make industrial advances 19,135 19,178 25,421 ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS OH MARCH 24, 1937 (In thousands of dollars) B-801«B ASSETS Total Gold certificates on hand and due from tf. S. Treasury Redemption fund - F. R. notes Other cash Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 8,844,385 528,867 3,347,906 599,657 645,846 290,970 257,863 1,661,844 254,385 176,393 259,872 187,496 633,286 12,095 1,036 " 1,667 594 841 815 2,080 627 1,399 778 528 579 1,151 270,407 22,521 81,134 26,831 14,702 16,768 10,550 31,544 13,621 6,782 15,209 6,018 24,727 Total reserves 9,126,887 552,424 3,430,707 627,082 661,389 308,553 270,493 1,694,015 269,405 183,953 275,609 194,093 659,164 Bills discounted: Secured by U.S.Gov't obligations, direct or fully guaranteed 6,175 358 2,867 1,028 515 155 — 540 50 203 420 l4 25 Other bills discounted 1,517 215 687 29 18 9 , 264 30 47 5 42 121 50 Total bills discounted Bills bought in open market Industrial advances U. S. Government securities: Bonds Treasury notes Treasury bills 7,692 3,310 22,666 573 224 2,773 3,554 1,322 5,812 1,057 319 4,287 533 293 1,111 164 120 2,244 264 108 349 570 385 1,049 97 86 342 208 60 804 462 87 727 135 87 1,250 75 219 1,918 631,784 45,671 1,231,343 89,012 567,100 40,995 169,568 50,636 65,052 34,684 28,581 330,485 98,690 126,785 67,599 55,705 152,207 45,451 58,391 31,133 25,655 71,858 30,170 22,209 32,912 24,688 55,755 140,051 58,803 43,285 64,146 48,117 108,665 64,501 27,081 19,935 29,543 22,161 50,047 Total U.S.Gov't securities 2,430,227 175,678 652,260 194,777 250,228 133,416 :109,941 276,410 116,054 85,429 126,601 94,966 214,467 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets 2,463,895 179,248 662,948 200,440 252,165 135,944 110,662 278,4l4 116,579 232 17 19,810 316 618,002 64,458 45,973 3,047 42,933 2,593 92 22 21 10 8 3,861 785 1,334 1,178 2,333 157,678 48,144 54,454 53,674 21,840 10,105 4,920 6,346 2,791 2,227 11,458 5,206 4,793 2,757 1,756 TOTAL ASSETS 86,501 127,877 96,438 216,679 27 4 3 6 6 16 2,335 1,631 1,184 883 511 3,459 79,622 25,405 14,067 32,982 24,912 40,766 4,690 2,382 1,499 3,257 1,260 3,449 4,072 1,721 1,605 1,987 1,690 3,295 12,317,732 802,103 4,276,849 886,599 980,502 504,907 409,319 2,063,175 417,127 288,812 442,601 318,910 926,828 ASSETS AND LIABILITIES OF THE FEDERAL RESERVE B A M S OK MARCH 24, 1937 (in thousands of dollars) B-801«B L I A B I L I T I E S Total 334,854 Deposits t 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 Commitments to make industrial advances Phila. Boston New York Cleve. Rich* Atlanta 886,176 307,333 346,380 2,892,032 397,911 22,780 87,607 13,290 37,578 10,033 7,474 102,999 2,104 94,883 76,128 Chicago St.Louis Minn. Xana.Cy. Dallas San Fran. 9^9,590 178,060 137,625 157,922 9,419 88,293 322,939 4,402 3,516 7,183,16c 378,738 3,112,150 497,362. 471,436 238,483 190,673 156,657 48,606 55,4(30 53,334 22,231 619,573 64,503 4,854 4,329 51,334 12,236 12,852 132,236 9,377 4,869 5,616 51,474 13,362 14,323 145,854 9,826 1,007 3,422 754 4,325 7,744 27,490 2,874 3,1-20 1,522 1,690 9,260 3,000 36,176 1,570 4o4 286 189 2,054 375 6,517 361 988,817 200,505 127,512 2:42,516 191,562 543,106 32,230 27,971 36,519 80,199 27,779 14, 3,992 3,798 12,585 3,869 10,111 2,899 4 , 6 55 21,504 3,851 3,116 3,613 9,645 1,142 545 l,4l6 1,003 1,262 1,996 941 1,197 7,916 2,076 1,847 2,037 245 288 437 1,148 475 255 12,317,732 802,103 4,276,849 886,599 980,502 504,907 409,319 2,063,175 417,127 288,812 442,601 318,910 926,828 19,135 1,947 7,895 178 1,185 2,343 275 10 1,287 6? 142 444 3,362 MATURITY DISTRIBUTION OF BILLS /SHD SECURITIES Total 3ills discounted Bills bought Industrial advances U.S.Government securities Hthin 15 days 16 to 30 days 7,692 3,310 6,971 88 2,430,227 1,271 133 12,250 22,666 31 to 60 days 287 566 433 48,597 61 to 90 days 104 2,744 508 78,171 91 days to 6 months 6 months to 1 Year 223 19 1,953 371,486 3,585 348,688 1 Year to 2 Years 5,520 2 Years to 5 Years 9,263 720,018 Over 5 Years 576,760 FEDERAL RESERVE NOTE STATEMENT ON MARCH 24, 1937 (in thousands of dollars) B-801«B Total Boston Hew York Phila. Cleve. Rich. Atlanta Federal Reserve notes Issued to F.R.bank by F.R. agent 4,473,064 355,376 992,383 323,459 444,193 205,618 205,933 306,338 20,529 106,207 16,156 22,233 10,481 22,146 Held by Federal Reserve bank In actual circulation 4,166,726 334,854 886,176 307,333 421,960 198,137 183,837 Chicago St.Louis Mirua. Knns.Cy. Dallas San Fran. 977,043 137,496 l4l,851 169,595 27.453 9.436 4.226 11,673 97,09° 369 938 8,806 " 949,590 178,060 137,625 157,922 88,293 322,939 Collateral held by agent as security for notes issued to bank: Gold certificates on hand arid due from U. S. Treasury 4,499,132 386,000 1,000,000 332,000 448,000 209,000 180,000 Eligible paper 7,394 558 3,415 1,037 515 155 256 U. S. Gov't securities 72,000 — — 30>000 Total collateral 4,578,526 386,558 1,003,415333,037 448,515 209,155 210,256 990,000 171,632 128,000 167,000 98,500 ^89,0^0 547 79 233 456 115 58 — 22,000 15,000 5,000 — 990,547 193,711 143,203 172,456 98,615 389,058
@FedFRASER