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STATEMEFT FOR THE PRESS Released for publication Friday morning, May U; not earlier* B-SOl Federal Reserve Board, May 3» 193^* COFDITIOI? Of FEDERAL RSS^BYE BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended May 2, as reported by the Federal Reserve banks, was $2,490,000,000, a decrease of $lH,000,000 compared with the preceding week, and an increase of $5^,000,000 compared with the corresponding week in 1933• On May 2 total Reserve bank credit amounted to $2,UsU,OOOtOOOf a decrease of $2,000,000 for the week. A decrease of $17^,000,000 in member bank reserve balances was offset by increases of $129,000,000 in Treasury cash and deposits with Federal Reserve banks, $35,000,000 in money in circulation and $11,000,000 in nonmember deposits and other Federal Reserve accounts® The System's holdings of bills discounted and of bills bought in open market declined $2,000,000 each, and of Treasury certificates and bills $22,000,000, while holdings of .United States bonds increased $2,000,000 and of United States Treasury notes $22,000,000* Changes in the amount of Reserve bank crcdit outstanding and in related items during the week and the year ended May 2, 193^» were as follows: Increase or decrease since May 2 April 25 May 3 (In millions of dollars) Bills discounted Bills bought U, S. Government securities Other Reserve bank credit 38 S 2M2 6 -2 -2 +2 +1 -362 -136 +595 - 9 TOTAL RESERVE BANK CREDIT Monetary gold stock Treasury and national ban!: currency 2,5+gU 7,756 2,381 -2 +1 +1 +SS +3,731 +76 Money in circulation Member bank reserve balances Treasury cash and deposits with F.R.bciriks Nonmember deposits and other P.S.accounts 5,359 3,570 3,277 U15 +35 -17U* +129 +11* -308 +1,536 +2,790 -123 *JSpril 25 figures revised. Released for publication Friday morning, May U,193U; not earlier. B~S01a ASSETS AND LIABILITIES OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) May 2,19 Apr. 25,1934 May 3, 19; 4,490,358 95M55 2,418,515 62,500 312,315 3,747,885 3,618 ASSETS Gold certificates on hand and due from U. S. Treasury Gold .. Redemption fund - F. R. notes . . • Other ca&h . • Total reserves • . . . Redemption fund F, R, "bank notes • Bills discounted: Sec. by U.S.Government obligations Other "bills discounted . . . . . • Total bills discounted . . . . Bills bought in open market . . . U.S.Government securities: Bonds . . . . . . . Treasury notes • Certificates and bills . . . . . • Tfrtal U.S.Government securities Other securities . . • • • • • • • • Total bills and securities . . Due from foreign banks . . . . . F. R. notes of other banks . . . Uncollected items ....... Bank premises . . . . Fed. Dep. Ins. Corp. stock . . . All other assets • . . . . TOTAL ASSETS — 31 .lift 232,267 4,849,911 6,022 31,498 241,262 4,763,118 7,768 7,33s 30,924 38,312 8,279 7,903 32,410 40,313 10,163 407,858 1,21+2,591 781,370 406,204 1,221,099 802,870 2,431,819 2,430,173 548 97,976 302,126 400,102 144,152 421,576 588,972 826,730 1,83J,278 5,641 7^7 2,479,157 3,131 •16,846 456,805 52,569 139,299 44,657 2,481,197 3,131 17,317 428,684 52,558 139,299 43,078 2,387,173 3,656 19,471 337,157 54,250 8,048,397 7,936,150 6,597,883 3,058,777 70,197 3,030,216 77,767 3,395,369 56,059 3,570,283 242,776 6,585 173,765 3,993,409 454,807 146,300 138,323 •3,743,597 17,644 5,347 •161,916 3,928,504 2,033,939 l44,4o6 27,272 154,484 2,360,101 331.621 150,187 278,599 • 161,831 24,693 • 8,048,397 161,829 25,507 7,936,150 • • • . 4,586,500 • • - — 44,673 L I A B I L I T I E S F. R. notes in actual circulation F. R. bank note circulation - net Deposits: Member bank - reserve account . Foreign bank . . . . . . . . . . Other deposits . . . . . . . . . Total deposits . . . . . Deferred availability items . . . Capital paid in Surplus . Reserves (F.D.I.C. stock, self insurance, etc.) . 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 . . . • 68.8$ 4,261 427,495 146,449 138,383 68.4$ 12,205 13,742 6,597,883 65.1$ 4,669 42,189 •Revised figures. ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS OUT MAY 2, 193^ (In thousands of dollars) A S S E T S Total Gold certificates on hand and due from U.S. Treasury Redemption fund - F.R. notes Other cash Boston New York Phila. CI eve. Hich. Atlanta l+,586,500 3S5.157 1,503,219 259,^31 350,137 22U.U51 119,680 1,012 3,290 2,071 3,089 3,102 2,51+5 31.1W 8,812 11,619 63.60I+ 35,013 13,831 232,267 15,819 Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 91+7,205 175,969 102,109 11+9,685 1,166 1,3^9 6,897 1,131+ 10,5*+l 8,993 10,875 33,579 987,681 186,096 il!+,333 Total reserves 1^,8^9,911 ^ 3 , 5 2 1 l,568,89^ 297,533 367,070 23^,275 13^,589 •131+ — — — 250 858 1,215 6,022 — Redemption fund - F.R.harik notes 2,327 Bills discounted: 361 10 287 l+,20l+ 203 1,15-15 380 7,388 316 17 Sec. by U#S.Govt. obligations 1,203 700 12,5^4 30,921+ 680 1.178 >+77 7*+ 11,255 1,500 Other bills discounted 996 17,11+8 12,670 1,880 1+87 1,225 987 38,312 1,381 1+35 Total bills discounted 2I+5 212 29U 938 Bills bought in open market 701 753 2,285 273 8,279 537 U.S.Government securities: 13,663 15,792 1+07,858 22,989 Bonds 1^9>331 25,603 30,21+7 13>287 12,309 67,1+90 Treasury notes 398:.3t+7 87,193 112,096 1+9,233 1+5,364- 220,312 1+8,780 30,550 1,21+2,591 82,607 Certificates and bills 30,757 19,261 781,370 52.031+ 239-077 514,321+ 70,682 31 0U3 28,607 11+9,5U1 93,200 65,603 2,1+31,819 137,680 Total U.S.Govt. securities 786J55 167,120 213..025 93,563 86,280 1+37,3^3 — — — — 200 1+0 507 7*+7 Other securities 1+39,506 93,880 66,302 806,228 180,998 215,658 95.238 87,7^0 Total bills and securities 2,1+79,157 159,213 10 110 1+1I+ 31+2 300 119 1,191+ 7 237 3,131 Dae from foreign banks 1,036 16,81+6 Ul9 596 3,316 837 5,3^8 335 1,037 1,1^7 F.R.notes of other banks lll+,2l+9 35,06'4 1+5,188 ^0,935 15,961+ 60,1+76 20,326 11,157 1156,805 1+8,206 Uncollected items 7,382 1+ 133 6,788 3>22l+ 3,128 3.121 11,1+31+ 2,372 5 1,657 52,569 Bank premises 5, SOS 10,230 lU, 621 ii+, 1I+7 5,272 3,510 1+2,529 19-.7-+9 5,093 Fed. Dep. Ins. Corp. stock 139,299 1,026 l+,6>2 1,1+59 889 330 1,990 i+i+,657 1,195 2,619 28,309 All other assets TOTAL ASSETS B-SOTb 161,392 — 86,323 283,13^ 4,860 629 6,738 12,81+3 93,690 300,837 761+ I+7I+ 5 2&+ 8 239 182 269 268 21+7 1,018 587 755 l*+,798 1+8,235 30.1+11 18,730 32,3^9 20,396 23,619 87,525 55,187 ^ 93^1+1+ 71,1+75 166,331 — 93,981 88 729 26,718 3,^5 M31 506 — — 72,7^+0 167,673 So 222 1,671 325 15,026 23,1+36 i+,090 1,755 J+,359 9,850 1,023 679 SrOUs,397 626,129 2,530,512 533,566 652,262 3S2,6Uo 2^9,702 1,519,550 309,SS7 198,757 291,030 lS9,Ugo 509,222 ASSETS AFD LIABILITIES OP THE FEDERAL RESERVE BAMSS OW MAT 2, 1934 (In thousands of dollars) L I A B I L I T I E S Total Boston Hew York Phila. Cleve. Rich. Atlanta 3,058^777 244,l6l 633,514 245,153 303,323 142,951 131,024 70,197 2,135 ^L.737 5,907 12,704 — — F.R. notes in actual circulation F.R.banlt note circulation - net Deposits: Member bank - reserve account 3,570,233 Government 242,776 Foreign bank 6,535 Other deposits 173,765 >,993,409 Total deposits Deferred availability items 1+54,307 Capital paid in 146,300 Surplus 138,333 Reserves (F.D.I.C. stock, self in161,831 surance, etc.) 24,693 All other liabilities total liabilities 284,015 1,420,459 132,673 232,247 165,573 69,333 10,232 152,503 6,347 5,409 2,345 5,1^9 443 2,512 643 593 237 213 3,333 45,623 293,633 1,621,107 206,225 21+9,1190 132,636 35,453 48,913 112,563 33,567 43,541 39,759 15,436 10,701 59,712 15,610 12,627 4,956 4,372 5,145 9,610 14,090 ^5,217 13,352 5,171 11,233 74s 47,266 17,121 16,447 74.3 69.4 6,963 7,351 Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 776,426 135,ISO 96,343 107,232 39,331 199,034 — 2,36l — — 2,916 1,437 571,111 111,636 67,273 134,118 103,309 222,976 32,907 7,S6l 4,157 4,896 3,233 7,132 7S5 206 1^3 I7H I7U 442 621,334 137,015 62,330 19,323 4,025 12,531 20,631 4,756 22,718 5,9^6 79,706 144,714 113,634 252,907 11,453 26,171 16,951 23,690 3,006 4,163 3,950 10,647 3,420 3,613 3,633 9,645 4,535 4,747 5,489 11,465 366 294 '2,430 776 340 3,526 631 635 347 3,o4s,397 626,139 2,530,512 533,566 652,362 332,61+0 249,702 1,519,550 309,337 193,757 291,030 189,480 509,222 Ratio of total reserves to deposit and F.R.note liabilities combined 63.3 Contingent liability on bills purchased for foreign correspondents 4,26l 309 14,396 65.9 1,451 71.9 66.4 447 154 B-SOlc 413 62.2 163 150 J0.6 68.4 542 64.9 142 64.0 99 120 6l.2 120 66.6 305 MATURITY DISTRIBUTION* OF BILLS AFD SHORT TEEM SECURITIES Total Bills discounted Bills bought in open market Certificates and bills Municipal warrants 32,312 3,279 731,370 547 Within 15 days 28,004 3,238 62,180 499 16 to 30 days 3,177 910 21,325 3 31 to 60 days 5,930 272 117,621 5 6l to 90 days 973 3,859 21,070 91 days to 6 months 193 329,997 35 Over 6 months 30 229,177 FEDERAL RESERVE NOTE STATEMENT OB MAY 2, 1934 (In thousands of dollars) Total Boston Few York Phila. Federal Reserve notes: Issued to F.R.bank by F.R.Agent 3,323,359 261,375 264,582 17,214 Held by Federal Reserve bank: In actual circulation 3,058,777 244,161 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S. Treasury 2,983,271 266,117 Eligible paper 22,151 1,071 U. S. Govt, securities 355,^00 -3,360,822 267,138 Total collateral Cleve, Rich. Atlanta B-SOld Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 725,7^5 260,050 31S,252 151,H63 1^7,^91 87,231 14,897 14,924 8,512 lo,4$7 813,680 139,773 101,211 113,641 37,254 4,593 M 6 8 6,359 44,188 246,490 M 5 7 ^7,^6 638,514 245,153 303,328 142,951 131,024 776,426 135,180 96,3^3 107,282 39,331 199,084 723,706 207,000 261,931 152,340 92,385 10,866 3,897 1,311 884 644 50,000 60,000 — 57,000 742,513 126,936 79,615 97,290 44,675 188,763 501 545 248 279 1,123 782 75,000 13,000 22,400 20,000 — 58,000 818,014 i4o,48l 102,263 117,569 45,798 247,545 73^,572 260,897 323,242 153,224 150,029 FEDERAL RESERVE BAtTK FOTE STATEMENT OH MAY 2, 193H (In thousands of dollars) Total Boston Few York Phila. Federal Reserve bank notes: Issued to F.R.bank(outstanding) Held by Federal Reserve bank In circulation - net* Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, 85,190 14,993 3,111 976 43,261 1,524 16,035 9,J2S 13,255 551 __ 2,531+ 173 3,540 624 2,017 70,197 2,135 737 6,907 12,704 — 2,361 2,916 1,^37 9 107,77^ 5,000 44,274 16,500 15,000 ~ 9 5,000 7,000 15,000 107,783 5,000 44,274 16,500 15,000 Collateral pledged against outstanding notes: Discounted and purchased bills U. S. Govt, securities Total — — — 5,009 — -- 7,000 15,000 •Does not include $92,227,000 of Federal Reserve bank notes for the retirement of which Federal Reserve banks have deposited lawful money with the Treasurer of the United States.
@FedFRASER