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Form FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, May 65 not earlier# Board of Governors of the Federal Reserve System May 5, 1938. CONDITION OF FEDERAL RESERVE BANKS During the week ended May 4 member bank reserve balances decreased $157,000,000« Reductions in member bank reserves arose from increases of $108,000,000 in Treasury deposits with Federal Reserve banks, $52,000,000 in money in circulation, $9,000,000 in nonmember deposits and other Federal Reserve accounts and $4,000,000 in Treasury cash, offset in part by increases of $10,000,000 in gold stock, $3,000,000 in Treasury currency and $3,000,000 in Reserve bank credit. Excess reserves of member banks on May A were estimated to be approximately $2,440,000,000, a decrease of $140,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended May Ar 1938, were as follows* Increase or decrease since May A 1938 April 27 1938 May 5 1937 (in millions of dollars) - --------- -9 -3 +38 ----- +3 —6 -8 2,589 12,870 2,693 +3 +10 +3 +12 +1,032 +1-46 7,504 6,407 2,196 1,429 616 -157 +52 +4 +108 +9 +622 -19 -817 +1,332 +73 Bills discounted 8 Bills bought 1 U. S. Government securities 2,564 Industrial advances (not including 13 million commitments - May 4) 17 Other Reserve bank credit -1 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 Form FR-283-a Released for publication Friday morning, May 6, 1938? not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) May 4. 1938 Apr, 27a.1928 May 5. 1937 10,641,412 8,386 434,876 11,084,674 10,641,911 9,360 451.582 11,102,853 8,842,902 10,079 279.497 9,132,478 5,379 2,813. 8,192 550 16,798 5,592 2,879 8,471 550 16,973 13,917 2.918 16,835 3,739 22,854 657,253 1,191,905 714.857 2,564,015 657,253 1,191,905 .7l4t857 2,564,015 732,428 1,152,393 641,469 2,526,290 Bank premises All other assets . . . . . . . . . . 2,589,555 170 23,005 550,492 44,717 45,214 2,590,009 170 20,672 523,357 44,765 __ 45,222 2,569,718 230 21,036 616,874 45,785 45,122 TOTAL ASSETS ........... 14,337,827 14,327,165 12,431,243 4,147,997 4,120,373 4,207,722 Reserve for contingencies . . . . . All other liabilities . . . . . . . 7,503,630 1,428,693 125,674 227.746 9,285,743 551,583 133,482 147,739 27,683 32,915 10.685 7,661,269 1,321,319 131,802 211.655 9,326,045 527,113 133,478 147,739 27,683 32,915 11.819 TOTAL LIABILITIES ........ 14,337,827 14,327,165 6 ,882,362 97,263 103,914 181,699 7,265,238 609,920 132,193 145,854 27,490 35,993 ...6*832 12,431,243 ASSETS Gold certificates on hand and due from U. S. Treasury • Redemption fund - F. R. notes . . . Other cash . . . . ............ Bills discounted« Secured by U.S.Gov’t obligations, direct or fully guaranteed . . . . Other 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......... LIABILITIES F. R. notes in actual circulation • Deposits: Member bank - reserve account . . . U. S. Treasurer - General account # Foreign bank . . * . . . ...... Deferred availability items . . . . Ratio of total reserves to deposit and F. R. note liabilities combined Contingent liability on bills purchased for foreign correspondents . . . . 82.5# 1,357 1,103 1,034 Commitments to make industrial advances 12,678 12,735 17,454 82.6# 79.6# Form FR-28>-b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON MAY 4, 1938 (In thousands of dollars) ASSETS Total Boston New York Phila. Gold certificates on hand and due from U. S. Treasury 10,641,412 584,019 4,542,585 530,811 8,386 Redemption fund - F. R. notes 927 311 653 434,876 41,069 101,342 :30,052 Other cash Total reserves 11,084,674 625,399 4,644,854 561,516 Bills discounted* Secured by U.S.Gov't obligations, direct or fully guaranteed 912 5,379 2,011 563 Other bills discounted 254 563 2,813 155 8,192 550 16,798 718 4l 2,447 Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 723,180 296,921 242,069 2,002,520 296,989 205,331 289,126 196,180 804 1,035 56k! 832 338 / 4l? 889 293 63 ,591 16,399 9*354 29,788 l4,304 41,905 30,996 18.556 765,917 328,721 261,660 2,066,404 313*950 215,574 319,252 210,897 297 190 495 332 253 502 210 —— 487 51 897 827 24 1,729 755 19 119 210 68 677 —4o 4o 731,681 1,329 37,520 770,530 50 68 122 191 168 197 298 321 118 2 549 313 16 466 365 16 9o4 619 39 1,297 Total bills discounted Bills bought in open market Industrial advances U. S. Government securities: Bonds Treasury notes Treasury bills 657,253 47,412 1,191,905 85,982 714,857 51,568 191,191 53,966 346,716 97,866 207,948 58,696 63,027 35,882 28,560 114,299 65,070 51>793 68,551 39,027 31,063 71,067 30,561 22,654 31,947 24,937 128,877 55,420 41,081 57,934 45,223 77,275 33,239 24,640 34,746 27,123 56,049 101,644 60,961 Total U.S# Gov't securities 2,564,015 184,962 745,855 210,528 245,877 139,979 1115416 277,239 119,220 88,375 124,627 97,283 218,654 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets 2,589,555 188,168 170 12 468 23,005 550,492 56,878 44,717 2,982 45,214 2,778 752,799 215,149 17 65 881 6,275 132,359 47,643 9,907 4,783 13,345 4,236 247,312 142,559 112,309 6 16 7 1,1-45 1,934 1,713 53,767 45,487 21,478 6,164 2,674 2yI05 4,920 2,782 1,980 278,194 -i_L>,422 89,044 125,422 98,568 2 21 2 5 5 2,034 481 3 «09ii 1,271 1,520 74j86j 2*5»127 14,551 29,266 21,364 4,548 3,130 1,282 2.3 ¿5 1,505 1,962 1,622 1,630 4,359 1,859 220,609 12 2,185 27,711 3,312 3,941 TOTAL ASSETS 2,265 215 4,464 1,475 56 3,090 3 159 14,337,827 876,685 5,559,6o4 834,225 1,079,241 524,164 401,251 2,431,285 464,719 323,577 480,557 334,219 1,028,300 Form FRr-283-c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MAY 4, 1938 (in thousands of dollars) LIABILITIES Cleve. Total Boston New York Phila, F.R.notes in actual circulation 4,147,997 337,218 898,AAA Deposits t Member bank — reserve account 7,503,630 396,532 3,*78,0A5 U.S.Treasurer - General account 1,428,693 47,604 706,040 Foreign bank 125,674 8,988 45,659 Other deposits 227,746 4,935 178,469 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All, other liabilities TOTAL LIABILITIES Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, 305,807 409,864 189,210 148,307 967,724 177,216 138,275 167,469 78,930 329,533 385,055 45,217 12,233 1,663 506,977 208,059 162,894 1,169,553 190,564 116,408 219,066 165,454 58,028 53,794 48,595 161,048 50,946 38,697 48,530 49,193 11,484 5,368 4,369 14,854 3,745 2,871 3,620 3,620 7,165 8,360 2,553 1,368 5,960 3*383 230 2,306 505,023 121,001 8,863 11.354 9,285,743 458,059 4,408,213 444,168 551,583 56,990 131,156 51,249 133,482 9,405 50,946 12,258 147,739 9,900 51,943 13,466 27,683 2,874 7,744 4,411 32,915 1,448 8,210 2,000 10,685 791 2,948 866 583,654 275,581 218,411 1,346,823 251,215 161,359 271,446 220,573 52,848 44,145 21,443 71,342 25,555 l4,408 31,335 23,480 13,358 4,949 4,446 13,085 3,897 2,904 4,147 3,938 14,323 4,964 5,626 22,387 4,667 3,153 3,613 3,892 1,007 3,409 73O 1,429 545 1,001 1,142 1,270 3,177 1,401 1,603 7,229 1,215 1,922 934 1,776 .1,266 409 555 471 360 1,010 505 ___685 646,241 27,632 10,149 9,805 2,121 2,000 819 14,337,827 876,685 5,559,6o4 834,225 1,079,241 524,164 401,251 2,431,285 464,719 323,577 480,557 334,219 1 ,028,300 Contingent liability on bills purchased for foreign correspondents 1,357 Commitments to make industrial 12,678 advances 98 488 133 125 58 48 1,430 3,865 124 1,509 1,503 179 161 4i 31 39 39 96 508 4l 373 244 2,902 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted Bills bought Industrial advances U. S. Government securities Within 15 days 8,192 6,527 550 166 16,798 1,581 2,564,015 116,668 61 to 90 days 16 to 30 days 31 to 60 days 285 87 204 104,311 362 297 974 567 353,460 186,586 709 ----- 91 days to 6 months 6 months to; 1 Year 299 ----- 1,480 127,537 1 Year to 2 Years 2 Years to 5 Years Over 5 Years 10 - - 3,361 126,351 _ — 6,666 376,428 - — 1,965 576,569 — _ — 596,105 Form FR-283—d FEDERAL RESERVE NOTE STATEMENT ON MAI A, 1938 (in thousands of dollars) Total Boston New York Phila» Federal Reserve notes* Issued to F.R.bank by F.R.agent 4,425,523 365,551 Held by Federal Reserve bank 277,526 28,333 In actual circulation 4,147,997 337,218 Cleve, Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 987,739 324,901 89,295 19,09* 431,019 199,074 162,328 21,155 9,864 14,021 990,298 192,333 1*1,557 174,113 86,457 370,153 22,574 15,117 3,282 6,644 7,527 40,620 898,444 305,807 409,864 189,210 148,307 967,724 177,216 138,275 167,469 78,930 329,533 Collateral held by agent as secu rity for notes issued to bank* Gold certificates on hand and due from U. S. Treasury 4,519,632 370,000 1,000,000 337,000 Eligible paper 7,271 684 2,190 1,143 Total collateral *,526,903 370,684 1,002,190 338,143 434,000 200,000 169,000 1/300,000 196,632 143,500 177,000 88,500 404,000 329 767 552 210 -118 303 363 612 43*,329 200,767 169,552 1^300,210 196,632 1*3,618 177,303 88,863 4o4,6l2
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