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STATEMENT FOR THE PRESS Board of Governors of the Federal Reserve System March 4, 1937 Released for publication Friday morning, Mar. 5? not earlier. CONDITION OF FEDERAL RESERVE BANKS During the week ended March 3 member bank reserve balances decreased $45*000,000• Reductions in member bank reserves arose from a decrease of |3,000,000 in Reserve bank credit and increases of $35,000,000 in money in circulation, $18,000,000 in Treasury cash and $36,000,000 in Treasury deposits with Federal Reserve banks, offset in part by increases of $18,000,000 in gold stock and $3,000,000 in Treasury currency and a decrease of $24,000,000 in nonir ember deposits and other Federal Reserve accounts. Following the increase of sixteen and two-thirds percent in reserve requirements of member banks \uhich became effective on March 1, aggregate required reserves of member banks increased approximately $750,000,000 during the week ended March 3, and excess reserves declined from approximately $2,100,000,000 on February 24 to $1,310,000,000 on March 3. Principal changes in holdings of bills and securities were an increase of $9,000,000 in United States bonds and a decrease of $9,000,000 in United States Treasury notes. Changes in member bank reserve balances and related items during the week and the year ended March 3, 1937, were as follows: Increase or decrease since Mar. 3 1937 Feb. 24 1937 Mar. 4 1936 (in millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 20 million commitments - March 3) 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 7 3 2,430 +3 — +1 -2 -1 -5 -8 -9 2,457 11,443 2,535 -3 +18 +3 -18 +1,276 +29 6,660 6,407 2,620 216 533 -45 +35 +18 +36 -24 +847 +559 +101 -163 -57 23 ~6 — (B-801) Released for publication Friday morning, March 5,1937J not earlier. 3-801a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Mar, 3,1937 Fob. 24.1937 Mar. 4,1936 A S S E T S Gold certificates on hand and due from U. S. Treasury Redemption fund - F. R. notes Other cash . Total reserves Bills discountedi 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 securitiess Bonds Treasury notes Treasury bills Total U.S. Government securities . . . 8,8*7,402 11,449 266.405 9,125,256 8,847,384 11,475 270.622 9,129,481 7,669,328 14,902 338.513 8,022,743 6,572 767 7,339 3,083 23,106 3,406 701 4,107 3,083 23,350 2,986 2.726 5,712 4,673 31,454 533,682 1,303,971 592,574 2,430,227 524,282 1,313,371 592.574 2,430,227 216,069 1,602,759 612,011 2,430,839 — — 2,463,755 2,460,767 2,472,859 225 22,180 649,595 46,020 48.248 225 20,260 681,605 46,152 46.611 649 18,999 523,547 47,863 41.076 12,355,279 12,385,101 11,127,736 F. R. notes in actual circulation . . . . deposits» Member bank - reserve account U.S.Treasurer - General account . . . . Foreign bank Other deposits 4,195,436 4,167,930 3,735,066 6,660,138 216,471 108,924 171.342 6,705,293 179,882 122,746 179.263 5,813,244 379,299 49,275 272.189 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 7,156,875 656,079 132,281 145,854 27,190 36,200 5,364 7,187,184 682,698 132,249 145,854 27,190 36,200 5.796 6,514,007 521,660 130,656 145,501 26,519 34,123 20,204 12,355,279 12,385,101 11,127,736 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 181 L I A B I L I T I E S TOTAL LIABILITIES Ratio of total reserves to deposit and F. R. note liabilities combined . . . . 80.4$ Commitments to make industrial advances . 19,537 *80.A% 19,523 78.3% 25,537 ASSETS A1JD LIABILITIES OF THE FEDERAL RESERVE BAIIKS Oil MARCH 3, 1937 (in thousands of dollars) B-801b A S S E T S Total Boston Hew York Gold certificates on hand and due from U. S. Treasury Redemption fund - F.R. notes Other cash Total reserves Phila. Cleve. Rich, Atlanta Chicago St. Louis Minn. Kins. Cv. Dallas San Fran. 8,847,402 559,613 3,420,666 503,627 666,787 291,777 250,925 1,661,849 255,720 176,367 254,431 196,522 609,118 1,155 250 499 503 2,2.97 812 1,450 859 563 6l4 1,304 11,449 1,143 266,405 21,665 69,824 29,600 19,842 19,775 11,719 28,571 15,095 7,387 15,309 5,397 22,221 9,125,256 582,421 3,491,645 533,477 687,128 312,055 264,941 1,691,232 272,265 184,613 270,303 202,533 632,643 Bills discounted: direct or fully guaranteed Other bills discounted Total bills discounted Bills bought in open market Industrial advances U.S. Government securitiest Bonds Treasury notes Treasury bills 6,572 767 90 10 2,512 446 7,339 3,083 23,106 100 224 2,768 2,958 1,095 5,816 533,682 1,303,971 592,574 38,579 94,263 42,836 608 — 608 319 4,316 260 — — — — 75 194 — — 260 293 1,131 120 2,534 269 108 354 143,338 42,773 54,951 349,978 ]104,511 134,263 159,044 47,493 61,014 29,298 71,586 32,532 24,143 58,991 26,807 134 12 2,537 385 1,051 146 86 347 60,700 148,312 67,398 25,486 62,270 28,298 — 300 26 0 69 2,537 60 813 32^ 87 733 75 87 1,274 60 219 1,969 18,760 45,838 20,831 27,802 67,929 30,870 20,854 47,098 23,156 52,295 — 50 10 50,956 :115,074 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 3.36,601 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 2,463,755 178,770 225 17 22,180 318 649,595 65,567 46,020 3,047 48,248 3,015 662,129 200,020 251,912 136,070 110,672 85 22 21 10 8 4,532 823 1,158 1,867 2,616 166,847 54,685 62,684 54,071 22,417 10,105 4,931 6,346 2,791 2,230 12,784 5,721 5,344 3,036 2,000 277,846 116,633 27 4 2,714 2,473 91,743 28,233 4,690 2,384 4,633 1,995 88,839 127,747 3 6 826 1,464 13,309 33,74l 1,501 3,285 1,838 2,270 TOTAL ASSETS 12,355,279 96,402 216,715 6 16 566 2,823 25,419 30,879 1,261 3,449 1,876 3,736 833,155 4,348,127 799,679^)14,593 509,900 404,884 2,072,885 423,987 290,929 438,816 328,063 890,261 ASSETS AHD LIABILITIES OF THE FEDERAL RESERVE BA11KS OH MARCH 3, 1937 (in thousands of dollars) B-801b L I A B I L I T I E S Total Boston Hew York Phila. Oleve. Rich. Atlanta Chicago St.Louis LELnn. Kans.Cy. Dallas San Fran, F.R.notes in actual circulation 4,195,436 355,607 888,119 304,999 417,597 196,257 184,789 Deposits t Member bank - reserve account 6,660,138 362,679 2,957,400 380,967 456,411 227,434 169,718 66,328 14,571 21,624 8,334 7,029 U.S.Treasurer - General account 216,471 15,360 108,924 8,071 38,277 10,835 10,171 4,754 3,869 Foreign bank 114,858 1,186 13,169 4,196 4,559 171,342 1,522 Other deposits 952,689 179,710 135,982 l6o,4l4 89,795 329,478 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 t>) Reserve for contingencies All other liabilities 984,296 204,650 131,229 233,740 195,119 504,519 91,456 29,196 14,391 34,773 31,910 32,285 12,570 3,991 3,799 2,906 3,855 10,195 21,504 3,116 3,613 3,851 9,645 4,655 l,4l6 1,142 1,003 545 1,262 1,696 7,943 931 2,083 1,197 1,847 2,037 1,011 212 219 235 424 4o6 TOTAL LIABILITIES Commitments to make industrial advances 7,156,875 387,632 3,176,863 407,559 501,375 244,718 185,175 161,784 53,855 64,030 54,002 22,386 656,079 66,011 9,373 4,336 132,281 51,349 12,240 12,836 4,831 4,869 9,826 5,616 145,854 51,474 13,362 14,323 3,422 2,874 754 1,007 27,190 4,325 7,744 1,570 36,200 3,000 3,120 1,522 1,690 9,260 262 279 138 305 5,364 339 1,534 12,355,279 833,155 4,348,127 799,679 19,537 1,952 8,086 207 928,461 186,164 119,682 224,057 173,999 473,166 41,860 8,844 4,016 6,277 12,374 9,854 12,825 3,317 2,543 3,206 3,206 7,850 1,150 6,325 4,988 200 5,540 13,649 593 509,900 404,884 2,072,885 423,987 290,929 438,816 328,063 890,261 1,214 2,307 279 10 1,291 68 153 483 3,487 MATURITY DISTRIBUTION OF BILLS ALT) SECURITIES Bills discounted Bills bought Industrial advances U.S.Government securities Total Within 15 days 16 to 30 days 31 to 60 days 7,339 3,083 6,902 717 2,430,227 28,535 157 1,642 707 24,309 95 263 363 45,905 23,106 876 61 to 90 days 79 461 515 58,186 91 days to 6 months 6 months to 1 Year 1 Year to 2 Years 2 Years to 5 Years Over 5 Years 102 1,600 268,280 4,104 379,430 5,645 297,840 9,296 848,834 — 478,908 FEDERAL RESERVE HOTE STATEMENT OH MARCH 3, 193? (In thousands of dollars) B-801b Total Boston Federal Reserve notest Issued to F.R.bank by F.R.agent•4,476,257 378,220 Held by Federal Reserve bank 280,821 22,613 In actual circulation 4,195,436 355,607 New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 974,671 32-4,789 443,684 206,563 206,526 86,552 19,790 26,087 10,306 21,737 975,914 189,614 140,237 170,191 23.225 9.904 4.255 9.777 96,4o4 369,444 6.609 39.966 888,119 304,999 417,597 196,257 184,789 952,689 179,710 135,982 l60,4l4 89,795 329,478 990,000 332,000 445,000 208,000 168,000 2,791 608 260 — 268 — — — _ 45,000 990,000 171,632 128,000 167,000 — 146 2,537 326 — 22,000 15,000 5,000 97,500 389,000 74 58 — — 992,791 332,608 445,260 208,000 213,268 990,000 193,778 145,537 172,326 97,574 389,058 Collateral held by agent as security for notes issued to bankJ Gold certificates on hand and due from U. S. Treasury 4,492,132 406,000 Eligible paper 7,168 100 U. S. Gov't securities 87,000 — Total collateral 4,586,300 406,100
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