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STATEMENT FOR THE PRESS Released for publication Friday morning, May 21; not earlier. Board of Governors of the Federal Reserve System May 20, 1937 CONDITION OF FEDERAL RESERVE BANKS During the week ended May 19 member bank reserve balances decreased $25,000,000. Reductions in member bank reserves resulted from increases of #23,000,000 in Treasury cash, #11,000,000 in Treasury deposits with Federal Reserve banks and $12,000,000 in nonmember deposits and otha?Federal Reserve accounts, and a decrease of #11,000,000 in Reserve bank credit, offset in part by increases of #25,000,000 in gold stock and #2,000,000 in Treasury currency, and a decrease of #6,000,000 in money in circulation. Excess reserves of member banks on May 19 were estimated to be approximately #910,000,000, a decrease of #30,000,000 for the week* Inactive gold included in the gold stock" and Treasury cash amounted to #676,000,000 on May 19, an increase of #25,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended May 19, 1937, were as follows! Increase or decrease since May 19 1937 May 12 1937 May 20 1936 (in miLllions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 17 million commitments - May 19) Other Reserve bank credit Total Reserve bank credit Gold stock Treasury currency Member bank reserve balances Money in circulation Treasury caah Treasury deposits with F. R. banks Nonmember deposits and other F.R. accounts 15 4 2,526 23 -4 -1 -1 — — +10 -1 +96 -7 -10 2,565 11,907 2,547 -11 +25 +2 +95 +1,532 +54 6,918 6,399 3,079 117 506 -25 -6 +23 +11 +12 +1,224 +503 +454 -"396 -105 (B-801) Released for publication Friday morning, May 21, 1937? not earlier. B-801a ASSETS JCJD LIABILITIES OF THE TiSELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) May 12,1937 May 20, 1936 8,838,913 11,583 289,155 9,139,651 8,839,408 11,713 288,280 9,139,401 7,759,336 12,532 316,329 8,088,197 11,624 3,658 15,282 4,475 22,52.3 12,949 2,705 15,654 4,534 22,779 2,436 2,313 732,608 1,152,213 641,469 2,526,290 — 732,428 1,152,393 641,469 2,526,290 265,691 1,547,839 616,717 2,430,247 181 2,568,570 228 21,402 701,718 45,788 46,464 2,569,257 230 21,542 666,762 45,787 45,956 2,470,208 240 20,368 574,289 48,051 40,288 12,523,821 12,488,935 11,241,641 4,184,425 4,193,868 3,760,729 6,918,227 116,777 126,110 123,933 7,285,047 705,826 132,199 145,854 27,490 35,939 7,04l 6,942,727 106,177 104,979 131,566 7,285,449 660,697 132,193 145,854 27,490 35,974 7,410 5,694,009 513,104 85,482 267,384 6,559,97$ 574,822 130,745 145,501 26,513 34,109 9,24;? 12,523,821 12,488,935 11,241,641 May 19,1937 ASSETS 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 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 4,749 4,544 30,487 LIABILITIES F. R. notes in actual circulation . . Deposits s Member bank - reserve account . . . U.S.Treasurer - General account . . Fbreign bank Other deposits Total deposits . Deferred availability items Capital paid in 5*urplus (Section 7) Sux^lus (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 on bills purchased for foreign correspondents 79,7% 1,532 1,532 Commitments to make industrial advances 17,311 17,183 79.6% 78.4$ — 25,297 ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS OH MAI 19, 1937 (in thousands of dollars) B-SOlb ASSETS Total Boston New York Phila. Gold certificates on hand and due from U. S. Treasury 8,838,913 453,933 3,347,482 528,150 Redemption fund - F.R. notes 11,583 796 1,336 653 Other cash 289,155 • 39,458 83,760 2-4,576 Total reserves 9,139,651 494,187 >,432,578 553,379 Bills' discounted* Secured by U.S.Gov't obligations, 11,624 direct or fully guaranteed 899 5,711 1,438 Other bills discounted 3,658 104 357 1,537 Total bills discounted Bills bought in open market Industrial advances U.S. Government securitiest Bonds Treasury notes Treasury bills Total U.S.Gov't securities Total bills and securities Due from foreign banks F.R.notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 15,282 4,475 22,523 1,256 223 3,182 7,248 2,014 5,915 1,542 394 4,104 Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Gj. Dallas San Fran. 681,240 279,637 244,970 1,738,262 267,544 191,224 271,374 177,469 657,628 898 691 1,735 586 1,276 728 430 514 1,940 12,812 20,079 10,848 32,340 14,607 5,064 15,670 6,252 23,689 694,950 300,407 257,553 1,771,188 283,427 197,016 287,474 184,235 683,257 340 — 392 — 340 374 979 392 149 2,136 46 5 1,2.57 185 — 525 74 500 5 45 151 844 109 280 64 1,722 133 244 185 459 92p 599 112 333 505 79 787 196 114 677 953 112 1,325 344 312 1,921 732,608 53,385 1,152,213 83,974 641,469 46,750 210,233 61,861 330,691 97,303 184,105 54,172 71,309 38,575 32,284 112,167 60,678 50,623 62,446 33,781 28,184 80,726 32,298 23,828 35,992 28,601 63,516 126,979 50,803 37,482 56,616 44,987 99,910 70,693 28,284 20,866 31,519 25,046 55,623 2,526,290 184,109 725,029 213,336 245,922 133,034 111,091 278,398 111,385 2,568,570 188,770 228 17 21,402 369 701,718 76,794 45,788 3,038 46,464 2,868 740,206 219,376 85 23 4,681 972 175,813 54,745 10,071 4,910 13,145 5,563 247,615 135,711 113,190 8 21 10 1,366 1,917 1,787 67,236 58,433 26,816 6,330 2,773 2,223 4,984 2,847 1,858 279,962 112,429 83,547 125,114 101,024 221,626 4 27 7 7 16 3 2,270 1,119 1,558 2,067 512 2,784 97,281 29,792 16,997 36,361 27,418 34,027 4,671 2,373 1,500 3,230 1,264 3,415 1,631 2,098 1,812 3,504 4,364 1,790 82,176 124,127 98,634 219,049 12,523,821 766,043 4,376,584 838,968 1,022,492 502,098 403,435 2,159,560 432,085 301,813 455,842 316,272 948,629 ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MAI 19, 1937 (in thousands of dollars) B-eoic L I A B I L I T I E S Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 4,184,425 307,803 970,374 178,247 894,201 312,114 426,301 193,745 181,136 Deposits t Member bank - reserve account ,918,227 341,151 3,000,915 422,609 459,887 225,860 173,782 1,022,172 198,599 U.S.Treasurer - General account 116,777 6,131 7,421 2,263 2,710 2,034 2,239 2,327 76,085 Foreign bank 14,545 3,755 126,110 9,153 5,392 4,389 45,993 12,288 11,536 Other deposits 2,564 2,143 6,857 123,933 64,582 1,226 22,768 2,535 2,559 Total deposits 7 ,285,047 358,970 3,187,575 438,450 496,225 236,100 182,998 1,046,281 211,921 98,204 31,385 705,826 75,195 Deferred availability items 173,479 54,935 68,023 57,189 26,640 4,313 12,613 Capital paid in 132,199 9,376 51,271 12,240 12,856 3,811 4,856 5,616 21,504 4,655 Surplus (Section 7) 145,854 9,826 51,474 13,362 14,323 4,869 Surplus (Section 13 b) 754 1,416 27,490 7,744 4,325 545 3,422 2,874 1,007 Reserve for contingencies 1,690 7,860 35,939 1,570 1,198 9,091 3,000 1,522 3,121 All other liabilities 288 1,308 7,041 636 323 395 429 1,749 542 TOTAL LIABILITIES 140,118 159,740 90,192 330,454 127,833 238,921 173,770 532,728 4,924 2,234 6,564 1,795 8,903 2,884 3,636 3,636 11,327 177 4,379 2,816 135,767 249,298 183,580 557,882 16,545 36,805 31,442 35,984 2,898 3,994 3,861 10,110 3,116 3,613 3,851 9,645 1,003 1,142 1,262 1,996 2,062 2,037 941 1,847 521 309 304 237 12,523,821 766,043 4,376,584 838,9683/522,492 502,098 403,435 2,159,560 432,085 301,813 455,842 316,272, 948,629 Contingent liability on bills purchased for foreign correspondents 1,532 Commitments to make industrial advances 17,311 112 553 150 l4i 66 54 178 46 35 44 44 109 2,314 6,004 166 1,352 2,160 350 10 1,201 66 134 302 3,252 MATURITY DISTRIBUTION OF BILLS M D SECURITIES Total Bills discounted Bills bought Industrial advances U.S.Government securities 15,282 4,475 22,523 2,526,290 Within 15. days 14,044 364 817 26,107 16 to 30 days 108 457 188 28,520 31 to 60 days 61 to 90 days 586 581 552 68,298 132 3,073 1,024 76,689 91 days to 6 months 6 months to 1 Year 402 10 1,742 333,891 3,719 376,312 1 Year to 2 Years 2 Years to 5 Years 5,515 254,971 8,966 679,815 Over 5 Years 681,687 FEDERAL RESERVE 1I0TE STATUKIIT Oil MAI 19, 1937 (In thousands of dollars) B-801d Total Boston New York Phila. Cleve. Rich. Atlanta Federal Reserve notes: Issued to F.R.bank by F.R.agent 4,498,606 335,06l 1,001,136 331,176 453,778 204,821 199,172 Held by Federal Reserve bank 3l4,lSl 27,253 106,935 19,062 27,477 11,076 18,036 In actual circulation 4,184,425 307,803 894,201 312.,Il4 426,301 193,745 181,136 Chicago St.Louis Minn. Kans.Cy.Dallas San Fran. 999,475 187,498 144,909 170,723 97,344 373,013 29,101 9,251 4,791 10,983 7,652 42,559 970,374 178,247 140,118 159,740 90,192 330,454 Collateral held by agent as security for notes issued to banks Gold certificates on hand and due from U.S. Treasury 4,535,632 356,000 1,010,000 332,000 457,000 206,000 182,000 1,010,000 174,632 146,000 174,000 99,000 389,000 Eligible mper 15,891 1,256 7,610 1,543 422 422 1,647 261 575 524 221 977 433 U.S. Gov't securities 35,000 — — — — — 20,000 — 15,000 — — — ~ Total collateral 4,586,523 357,256 1,017,610 333,543 457,422 206,422 203,647 1,010,261 190,207 146,524 174,221 99,977 389,433
@FedFRASER