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Form FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, April 1; not earlier, Board of Governors of the Federal Reserve System March 31, 1938 CONDITION OF FEDERAL RESERVE BANKS During the week ended March 30 member bank reserve balances decreased $2].,000,000. Reductions in member bank reserves arose from increases of $4,000,000 in money in circulation, $6,000,000 in Treasury cash, $22,000,000 in Treasury deposits with Federal Reserve banks and $3,000,000 in nonmember deposits and otherFederal Reserve accounts and a decrease of $5,000,000 in Reserve bank credit, offset in part by increases of $13,000,000 in gold stock and $6,000,000 in Treasury currency. Excess reserves of member banks on March 30 were estimated to be approximately $1,560,000,000, unchanged for the week. Inactive gold included in the gold stock and in Treasury cash amounted to $1,183,000,000 on March 30, unchanged for the week. Changes in member bank reserve balances and related items during the week and the year ended March 30, 1938, were as follows* Increase or decrease since Mar. 30 1928, Mar, 23 -1228-.. Mar. 31 JL232L. (In millions of dollars) Bills discounted 12 Bills bought 1 U. S. Government securities 2,564 Industrial advances (not including 13 million commitments - March 30) 17 Other Reserve bank credit -7 Total Reserve bank credit Gold stock Treasury currency Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R. banks Nonnenber deposits and other F. R. accounts +2 —, -2 +134 — -8 -5 +3 2,587 12,794 2,680 —5 +13 +6 +129 +1,220 +139 7,312 6,329 3,551 292 578 -21 +4 +6 +22 +3 +673 -48 +798 -19 +84 Earn. FR-28>-a Released for publication Friday morning, April 1, 1938; not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Mar, 10^1918 Mar. 23. 1938 Mar. 31. 1937 9,212,708 9,874 473.506 9,696,088 9,197,203 9,874 477.843 9,684,920 8,844,400 11,375 285.028 9,140,803 8,174 6,415 ... 2*108 9,523 542 17,314 10,860 1.147 12,007 2,564,015 732,320 1,165,691 666,004 2,564,015 636,890 1,218,843 574.494 2,430,227 2,593,782 170 20,138 502,834 44,837 42.940 12,900,789 2,591,394 177 19,889 531,219 44,852 42,130 12,914,581 2,467,919 227 19,185 622,090 45,880 41,291 12,339,497 4,121,705 4,119,858 4,174,231 Reserve for contingencies . . . All other liabilities . . . . . 7,311,529 292,237 117,228 198.121 7,919,115 510,023 133,302 147,739 27,683 32,950 8.272 7,333,050 269,586 113,661 198.646 7,914,943 530,381 133,306 147,739 27,683 32,950 7,721 TOTAL LIABILITIES . . . 12,900,789 12,914,581 6,639,080 310,950 71,405 164.149 7,185,584 631,997 132,235 145,854 27,490 36,176 . -5*920 12,339,497 ASSETS Gold certificates on hand and due from U. S, Treasury . . . • Redemption fund - F. R. notés • Other cash ........ . . . . • 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« 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 ........ ___ JU.866 12,o4o 550 17,177 733,320 1,165,691 665,004 3,347 22,338 LIABILITIES F. R. notes in actual circulation Deposits» Member bank - reserve account . U.S.Treasurer — General account Total deposits ......... Deferred availability items . • Capital paid in . . . . . . . . Ratio of total reserves to deposit and F.R. note liabilities combined Contingent liability on bills pur chased for foreign correspondents 80.5% 82 222 Commitments to make industrial advances 13,110 12,904 80.5% 80.5$ 18,611 Form FR-283—b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MARCH 30, 1938 (In thousands of dollars) ASSETS Total Boston New York Phila. Gold certificates on hand and 9,212,708 481,498 3,984,256 469,743 due from U.S. Treasury 9,874 1,714 471 924 Redemption fund - F.R, notes 473,506 48,057 113,153 35,226 Other cash Total reserves 9,696,088 530,026 4,099,123 505,893 Bills discounted* Secured by U.S.Gov't obliga";ions, direct or fully guaranteed 8,174 2,484 1,427 807 Other bills discounted 3,866 220 264 713 Cleve. Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 625,070 269,618 220,985 1,628.067 261,672 176.747 251,932 164,996 678,124 581 1,246 4o4 607 610 457 1,496 631 733 73,261 15,698 10,026 30,272 13,847 42,251 43,699 28,781 19,235 669,376 298,980 241,466 1,701,938 278,001 187,506 282,608 179,300 721,871 738 23I 713 258 439 1,187 950 26 111 40 969 51 944 971 24 1,790 1,626 19 122 976 68 682 151 3 154 - 61 288 334 37 254 180 278 61 2 555 622 16 467 291 16 912 458 39 1,347 - Total bills discounted 12,040 1,027 4l Bills bought in open market 550 Industrial advances 17,177 2,609 U. S. Government securities» Bonds 733,320 53,837 Treasury notes 1,165,691 85,581 Treasury bills 665,004 48,821 211,516 60,521 336,227 96,205 191,811 54,884 72,370 38,982 30,734 115,040 61,965 48,856 65,628 35,350 27,871 80,765 32,742 23,809 37,782 28,534 61,728 128,384 52,045 37,846 60,059 45,357 98,126 73,241 29,691 21,591 34,262 25,876 55,978 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 Total bills and securities 2,593,782 191,916 Due from foreign banks 170 12 F. R. notes of other banks 20,138 550 Uncollected items 502,834 53,076 Bank premises 44,837 2,987 All other assets 42,940 2,678 746,837 217,081 17 65 4,047 782 129,871 40,564 9,940 4,794 12,669 4,110 255,002 139,082 109,228 284,116 114,786 83,864 133,208 100,986 2.17,676 16 6 21 12 2 2 7 5 5 2,581 1,066 2,176 1,872 1,252 1,036 1,236 445 3,095 45,184 41,473 19,283 64,606 22,490 13,711 26,039 20,258 2.6,279 6,177 2,680 2,108 4,569 2,330 1,497 3,142 1,293 3,320 1,676 1,488 2,052 1,557 3,668 1,701 4,001 4,707 2,633 12,900,789 781,245 5,002,552 773,241 981,528 487,031 375,664 2p62,3 A6 420,521 289,320 448,090 303,844 975,407 TOTAL ASSETS 2,748 215 4,320 2,l40 56 3,275 Form FR-283—c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MARCH 30, 1938 (in thousands of dollars) LIABILITIES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran. F.R,notes in actual circulation -4,121,705 300,459 910,304 309,893 Deposits» Member bank - reserve account 7,311,529 375,224 3/+75,091 369,967 U.S.Treasurer - General account 292,237 15,110 173,556 5,603 Foreign bank 117,228 8,449 42,005 11,501 Other deposits 198,121 4,573 152,541 1,230 410,370 194,582 149,666 962,252 177,011 136,046 164,240 78,800 328,082 463,997 213,875 181,4ll 14,833 12,478 6,616 10,797 5,046 4,107 3,899 4,820 2,118 942,861 191,124 119,908 238,105 178,813 561,153 29,348 7,230 4,645 5,219 6,584 11,015 13,965 3,521 2,699 3,403 3,403 8,332 1,350 7,408 3,094 366 2,691 1.4,031 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 493,526 236,219 194,252 45,211 41,133 18,791 13,149 4,949 4,452 14,323 4,964 5,626 1,007 3,409 730 3,177 1,401 1,603 765 374 544 987,524 209,283 130,346 247,093 191,491 594,531 67,426 23,610 13,471 26,496 22,423 28,198 10,l46 13,095 3,896 2,902 4,l46 3,939 22,387 4,667 3,153 3,613 3,8929,805 1,429 545 1,001 1,142 1,2702,121 7,257 1,215 1,929 934 1,7762,000 976 294 472 426 253 524 TOTAL LIABILITIES 7,919,115 403,356 3^43,193 510,023 53,171 127,773 133,302 9,4o 6 50,944 147,739 9,900 51,943 27,683 2,874 7,744 32,950 1,448 8,210 8,272 2,441 631 388,301 42,320 12,278 13,466 4,411 2,000 572 12,900,789 781,245 5P02,552 773,241 Contingent liability on bills purchased for foreign correspondents 82 Commitments to make industrial advances 13,110 981,528 487,031 375,664 2,062,346 420,521 289,320 448,090 303,844 975,407 7 22 9 9 4 3 1,483 4,251 121 1,509 1,540 279 11 -- 3 2 3 485 4l 302 268 2,829 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 12,040 550 17,177 2,564,015 10,289 -— 1,777 56,482 525 220 64 72,472 445 255 343 183,568 299 75 64o 292,688 91 days to 6 months 6 months to 1 Year 443 —— 1,717 238,499 39 -3,312 123,851 1 Year to 2 Years M— -6,723 349,714 2 Years to 5 Years •-»*»• -2,601 574,647 Over 5 Years mm --. —— 672,094 Form FR—283-d. FEDERAL RESERVE NOTE STATEMENT ON MARCH 30, 1938 (in thousands of dollars) Total Boston New York Phila, Federal Reserve notes* Issued to F.R,bank by F.R.agent 4,4-36,672 337,012 1,005,153 326,424 Held by Federal Reserve bank 314,967 36,553 94,849 16,531 In actual circulation 4,121,705 300,459 910,304 309,893 Cleve. Rich* Atlanta Chicago St.Louis Minn* Kans.Cy, Dallas San Fran. 438,321 204,289 167,285 27,951 9,707 17,619 987,241 189,673 139,908 174,693 89,855 376,818 24,989 12,662 3,862 10,453 11,055 48,736 410,370 194,582 149,666 962,252 177,011 136,046 164,240 78,800 328,082 Collateral held by agent as secur* rity for notes issued to bank* Gold certificates on hand and due from U. S. Treasury Eligible paper U. S. Gov't securities Total collateral 4,501,632 341,000 1,015,000 337,000 441,000 205,000 162,000 1,000,000 191,632 136,500 177,000 91,500 404,000 10,74l 975 2,690 1,657 760 912 1,269 976 111 6l 611 273 446 15,000 ---- - 10,000 -5,000 - ----4,527,373 341,975 1,017,690 338,657 441,760 205,912 173,269 1 ,000,976 191,743 l4l,56l 177,611 91,773 4o4,446
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