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Form Fft~283 STATEMENT FOR THE PRESS Released for publication Friday morning. Mar. 4; not earlier* Board of Governors of the Federal Reserve System March 3, 1938 CONDITION OF FEDERAL RESERVE BANKS During the week ended March 2 member bank reserve balances decreased $25,000,000. Reductions in member bank reserves arose from increases of §19,000,000 in money in circulation and $30,000,000 in Treasury deposits with Federal Reserve banks and decreases of $28,000,000 in Reserve bank credit and §17,000,000 in gold stock, offset in part by an increase of #4,000,000 in Treasury currency and decreases of $24,000,000 in nonmember deposits and other Federal Reserve accounts and $41,000,000 in Treasury cash. Excess reserves of member banks were estimated to be approximately $1,390,000,000, a decrease of $20,000,000 for the week* Inactive gold included in the gold stock and in Treasury cash amounted to $1,191,000,000 on March 2, a decrease of $23,000,000 for the week. The principal changes in holdings of bills and securities were a decrease of $12,000,000 in United States Treasury bonds, and increases of $10,000,000 in United States Treasury notes and $2,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended March 2, 1938, were as follows! Increase or decrease since Mar, 2 1938 Feb. 23 1938 Mar. 3 1937 (In millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 13 million commitments - March 2) 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 10 1 2,564 — — — +3 -2 +134 -6 -23 17 -29 -1 -27 2,563 12,767 2,669 -17 +4 +106 +1,324 +13^ 7,215 6,343 3,579 185 677 -25 +19 -4i +30 -24 +555 -64 +959 -31 +144 -28 Form•Fft-283-a . Released for publication Friday morning, Mar. 4, 3.938; not earlier. ASSETS A1ID LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Mar. 3, 1938 Feb, 23, 1938 Mar. .3,1937 9,173,603 9,308 455,851 9,638,762 9,167,600 9,155 439.441 9,616,196 8,8-47,402 11,449 266,405 9,125,256 6,471 -3,163 6,661 3,487 6,572 767 9,634 10,148 7,339 550 17,453 550 17,517 3,083 23,106 702,683 1,185,103 676,229 714,683 1,175,103 674,229 533,682 1,303,971 592,574 Total U. S. Government securities . 2,564,015 2,564,015 2,430,227 Total bills and securities 2,591,652 2,592,230 2,463,755 169 19,569 568,503 44,861 46,646 169 16,155 493,619 44,929 44,634 225 22,180 649,595 46,020 48,248 12,910,162 12,807,932 12,355,279 4,144,684 4,126,230 4,195,436 7,215,012 184,501 124.158 296^461 7,240,498 155,04l 145,809 297,660 6,660,138 216,471 108,924 171,342 7,820,132 7,839,008 7,156,875 ASSETS Gold certificates on hand and due from U. S. Treasury Redemption fund - F. R. notes . . . . Other cash Total reserves Bills discountedt 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 I Bonds Treasury notes Treasury bills . .... Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS L I A B I L I T I E S F. R. notes in actual circulation . . Depositsi Member bank - reserve account . . . . U.S. Treasurer - General account . , Foreign bank Other deposits Total deposits Deferred avd 3 ability items Capital pa:d in . Sarolus p o t i o n 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 :>n bills purchased for foreign correspondents Commitments to make industrial advances 597,762 133,217 147,739 27,683 32,984 5,961 495,425 133,217 147,739 27,682 32,985 5,646 656,079 132,281 145,854 27,190 36,200 5,364 12,910,162 12,807,932 12,355,279 80.6$ 80.4$ 640 830 13,031 13,078 80.4$ 19,537 Form Fft~28>b .ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MARCH 2, 1938 (In thousands of dollars) ASSETS Total Boston New York Phila. Gold certificates on hand and due from U. S. Treasury 9,173,603 488,865 3,8J9,4l9 478,090 Redemption fund - F.R.notes 9,308 547 1,064 1,072 Other cash 455,851 48.920 111.074 36.075 Total reserves 9,638,762 538,332 3,931,557 515,237 Bills discountedt Secured by U.S.Gov't obligations, direct or fully guaranteed 6,471 691 2,520 1,238 Other bills discounted 3,163 888 440 . 87 Total bills discounted 9,634 778 Bills bought in open market 550 41 Industrial advances 17,453 2,650 U. S. Government securities: Bonds 702,683 51,589 Treasury notes 1,185,103 87,005 Treasury bills 676,229 49,645 M *otal U.S. Gov't securities 2,564,015 138,239 : Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 2,960 215 4,316 2,126 56 3,413 Cleve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. 616,210 285,698 230,428 1,692,108 273,865 186,009 262,266 175,011 665,634 789 702 1,338 776 697 354 442 478 1,049 39,751 28,086 18,002 66,418 14,329 9,477 27,238 13,170 43,311 656,750 314,486 249,768 1,759,302 288,891 195,840 289,946 188,659 709,994 461 156 370 149 4o4 455 150 18 187 617 51 990 519 24 1,706 859 19 126 168 68 682 187 3 201 100 153 463 47 271 136 100 2 573 616 16 468 318 16 927 386 39 1,401 250 27,341 59,150 46,113 99,759 26,313 56,923 99,767 215,832 739,554 211,610 69,347 37,353 29,451 116,955 62,997 49,669 66,736 35,947 28,341 253,038 136,297 107,461 : 77,391 31,373 22,814 36,203 130,522 52,913 38,477 61,059 74,477 30,192 21,955 34,841 83,246 132,103 282,390 114,478 : 2,591,652 191,708 : 747,045 217,205 254,696 138,546 108,465 : 283,308 114,869 : 83,921 133,203 101,028 217,658 169 12 19,569 249 568,503 56,147 44,861 2,992 46,646 2,961 64 17 3,968 797 133,584 45,406 9,940 4,805 13,701 4,453 6 7 15 1,320 2,013 1,896 58,638 47,609 19,747 6,190 2,687 2,112 5,097 2,795 1,865 12 5 21 2 5 3 492 1,987 557 l,4l6 2,801 2,073 81,204 26,527 13,489 32,480 22,792 30,880 4,569 2,333 1,493 3,142 1,269 3,329 4,442 1,826 1,617 2,156 1,737 3,996 202,679 57,992 341,826 97,808 195,049 55,310 12,910,162 792,401 4,839,859 787,920 982,706 508,143 383,859 2,135,647 436,522 296,919 462,348 315,982 967,356 Form FRt-283-C ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MARCH 2, 1938 (in thousands of dollars) L I A B I L I T I E S Total Boston New York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R. notes in actual circulation 4,144,684 277,527 918,258 311,083 Depositsl Member bank — reserve account 7,215,012 412,863 3,249,175 384,596 U.S.Treasurer - General account 184,501 8,033 98,379 2,488 Foreign bank 124,158 8,895 44,862 12,107 Other deposits 296,461 4,694 247,828 762 417,063 197,631 153,621 970,012 179,059 136,462 167,407 81,350 335,211 450,621 234,514 187,733 9,186 496 2,962 11,366 5,312 4,324 4,001 7,979 2,960 989,375 205,991 127,7^7 238,367 186,343 547,657 32,756 3,352 3,408 8,344 4,058 11,039 14,702 3,706 2,841 3,583 3,689 8,771 949 6,245 3,450 877 3,528 13,188 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 399,953 44,238 12,277 13,466 4,411 2,000 492 475,174 248,301 197,979 1,037,782 219,294 137,476 251,171 197,618 580,655 83,061 27,651 13,625 33,696 25,993 27,536 58,283 47,241 19,382 13,026 4,952 3,893 2,903 4,143 3,925 10,150 4,446 13,154 22,387 4,964 4,667 3,153 3,613 3,892 9,805 5,626 14,323 1,429 3,409 545 1,001 1,142 1,270 2,121 730 1,007 934 1,776 2,000 7,285 1,401 1,936 1,215 1,602 3,177 242 665 378 244 363 158 198 473 525 12,910,162 792,401 4,839,859 787,920 982,706 508,143 383,859 2,135,647 436,522 296,919 462,348 315,982 967,856 TOTAL LIABILITIES 7,820,132 434,485 3,640,244 597,762 56,220 160,836 50,944 133,217 9,4o4 51,943 147,739 9,900 7,744 27,683 2,874 8,210 32,984 1,448 1,680 5,961 543 Contingent liability on bills purchased for foreign correspondents 6 40 Commitments to make industrial advances 13 ,£31 46 230 63 59 27 22 1,508 4,344 l4l 1,446 1,555 284 76 19 15 19 19 45 485 41 97 268 2,862 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 61 to 90 days 9,634 550 17,453 2,564,015 7,815 93 1,590 126,282 419 768 86 402 129,204 300 371 354 183,568 470 90,644 91 days to 6 months 6 months to 1 Year 318 14 1,865 318,164 3,324 133,569 1 Year to 2 Years 5,204 303,605 2 Years to 5 Years 4,244 629,629 Over 5 Years 649,350 Form FH-283-d FEDERAL RESERVE HOTS STATEMENT ON MARCH 2, 1938 (In thousands of dollars) Total Boston New York Phila. Federal Reserve notest 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. 4,458,426 312,365 1,016,366 336,990 313,742 34,838 98,108 25,907 443,644 207,676 170,704 26,581 10,045 17,083 994,658 190,682 140,268 174,852 90,936 379,285 24,646 11,623 3,806 7,445 9,586 44,074 4,144,684 277,527 417,063 197,631 153,621 970,012 179,059 136,462 167,407 81,350 335,211 918,258 311,083 Collateral held by agent as security for notes issued to bank! Gold certificates on hand and due from U, S. Treasury Eligible paper U.- S. Gov't securities Total collateral 4,532,632 341,000 1,035,000 337,000 8,466 728 2,919 1,446 25,000 448,000 208,000 156,000 1,000,000 196,632 136,500 177,000 93,500 404,000 468 519 635 168 187 98 604 316 378 20,000 5,000 4,566,098 341,728 1,037,919 338,446 448,468 208,519 176,635 1,000,168 196,819 l4l,59S 177,604 93,816 404,378
@FedFRASER