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STATEMENT FOR THE PRESS., Released for publication Friday morning, May 7; not earlier. Board of Governors of the Federal Reserve System May 6, 1937. CONDITION OF FEDERAL RESERVE BANKS During the week ended May 5 member bank reserve balances decreased 152,000,000. Reductions in member bank reserves arose from increases of #45,000,000 in money in circulation, $57,000,000 in Treasury cash,1 $15,000,000 in nonmember deposits and other Federal Reserve accounts and $2,000,000 in Treasury deposits with Federal Reserve banks, offset in part by increases of 056,000,000 in gold stock and $6,000,000 each in Reserve bank credit and Treasury currency. Following the increase of one-seventh in reserve requirements of member banks, which became effective May 1, aggregate required reserves of member banks increased approximately $700,000,000 during the week ended May 5 and excess reserves declined from approximately $1,64),000,000 on April 28 to $890,000,000 on May 5• Inactive gold included in the gold stock and Treasury cash amounted to $606,000,000 on May 5, an increase of $55,000,000 for the week. Principal changes in holdings of bills and securities were an increase of $6,000,000 in discounted bills, decreases of $2,000,000 in United States bonds and $4,000,000 in United States Treasury notes and an increase of $6,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended May 5, 1937, were as follows! Increase or decrease since May 5 1937 Apr. 28 1937 May 6 1936 (in millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 17 million commitments - May 5) Other Reserve bank credit Total Reserve ba,nk 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 17 4 2,526 23 7 +6 — — +12 -1 +96 -7 -1 2,577 11,838 2,547 +6 +56 +6 +99 +1,590 +50 6,882 6,426 3,013 97 543 -52 +45 +57 +2 +15 +1,350 +514 +460 -525 -61 (B-801) Released for publication Friday morning, May 7, 1937; not earlier. B-SOLa ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COLffilUED (in thousands of dollars) May 5, 1937 Apr. 28,1937 May 6, 193' ASSETS Gold certificates on hand and due 8,84-2,902 10,079 279*497 8,843,402 9,595 289,136 9,132,478 9,142,133 7,703,337 13,377 322,087 8,038,801 13,917 2,918 16,835 3,739 22,854 9,366 1,633 10,999 3,743 23,180 2,097 2,487 4,584 4,676 30,170 732,428 1,152,393 641,469 2,526,290 734,728 1,156,393 635,1.19 2,526,240 2,564,162 230 21,033 626,231 45,S6l 45,495 265,708 1,549,461 615,167 2,430,336 181 2,469,947 64o 19,813 519,305 48,048 38,495 12,445,145 .11,135,049 4,207,722 4,176,990 3,778,880 6,882,362 97,263 103,914 181,699 7,265,238 609,920 132,193 145,854 27,490 35,993 6,833 6,933,816 94,747 96,017 173,966 7,298,546 619,975 132,183 145,854 27,490 36,142 7,965 5,531,998 621,759 81,851 263,437 6,499,045 511,668 130,652 145,501 26,513 34,110 3,680 . 12,431,243 12,445,145 11,135,049 Redemption fund - F. R. note» Total reserves . , . . .. • Bills discounted 5 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 notes • Total U.S. Government securities # . Other securities . . . Total bills and securities . . . . . . Uncollected items — 2,569,718 230 21,036 616,874 45,785 45,122. ,. TOTAL ASSETS LIABILITIES F. R. notes in actual circulation . . . . Deposits i Member bank - reserve account . U.S.Treasurer - General account . . . . Other deposits Total deposits . . . . . .... . Deferred availability items Capital paid in . . . . Surplus (Section 7) . Surplus (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 . Commitments to make industrial advances 79.6% 79.7% 1,Q34 784 17,454 17,528 78.2$ — — 25,842 ASSETS A1JD LIABILITIES OF THE FEDERAL RESERVE BANKS ON MAT 5, 1937 (in thousands of dollars) B-801b ASSETS Total Boston New York Phila. Gold certificates on hand and due from U. S. Treasury 8,842,902 473,288 3,308,297 537,676 Redemption fund - F. R. notes 10,079 901 908 346 Other cash 279,497 37,854 76,291 25,129 Total reserves 9,132,478 512,043 3,385,496 563,151 Bills discounted: Secured by U.S.Gov't obligations, 994 direct or fully guaranteed 5,982 1,728 13,917 2,918 1,364 150 122 Other bills discounted Total bills discounted Bills bought in open market Industrial advances U.S.Government securities! Bonds Treasury notes Treasury bills 16,835 3,739 22,854 l,l44 223 3,220 7,346 1,728 5,956 1,850 318 4,178 Cleve. Rich. Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran. 686,035 283,185 247,797 1,736,658 271,066 188,209 27'4,405 182,482 653,804 590 522 1,883 800 1,335 ?50 483 540 1,021 16,128 21,486 11,184 29,555 12,368 5,358 15,420 6,240 22,484 702,753 305,193 260,864 3.,767,013 284,769 194,317 290,308 189,262 677,309 252 265 — — 252 292 980 265 119 2,184 1,160 808 520 250 14 805 245 145 848 74 868 241 1,968 107 270 520 383 1,006 264 86 335 805 60 777 390 87 683 922 87 1,338 1,109 249 1,927 732,428 53,372 1,152,393 83,987 641,469 46,750 210,182 61,845 330,742 97,319 184,105 54,172 71,292 38,566 32,275 112,185 60,687 50,631 62,446 33,781 28,184 80,706 32,290 23,822 35,983 28,594 63,501 126,999 50,811 37,488 56,625 44,994 99,925 70,693 28,284 20,866 31,519 25,046 55,623 Total U.S.Gov't securities 2,526,290 1184,109 725,029 213,336 24-5,923 133,034 111,090 278,398 131,385 : 82,176 124,127 98,634 219,049 Tot el, bills and securities Due from foreign banks F.R.notes of other banks Uncollected items Bank premises All other assets 2,569,718 188,696 : 230 17 21,036 352 616,874 67,631 3,038 45,785 45,122 2,758 740,059 219,682 87 23 4,258 990 146,407 50,542 10,071 4,910 5,441 12,735 247,447 135,602 113,435 : 8 10 21 1,310 1,704 2,169 $0,883 52,634 23,376 6,320 2,223 2,773 4,838 2,794 1,794 83,818 125,287 100,981 222,334 280,307 112,070 : 4 16 7 27 7 3 2,866 534 1,905 2,011 1,429 1,508 86,281 28,537 16,095 31,938 22,977 29,573 4,671 2,372 1,498 3,230 1,264 3,415 4,194- 1,730 1,598 1*977 1,878 3,385 TOTAL ASSETS 12,431,243 774,535 4,299,113 844,739 1,023,572 500,710 403,869 2,145,359 431,493 298,758 454,255 316,903 937,937 ASSETS M D LIABILITIES OF THE FEDERAL RESERVE BANKS ON MAI 5, 1937 (In thousands of dollars) B-801b LIABILITIES Total Boston liew York F.R. notes in actual circulation 4,207,722 319,691 899,147 Deposits s Member bank - reserve account 6,882,362 350,149 2^41,429 U.S.Treasurer - General account 97,263 4,624 43,774 Foreign bank 103,914 7,570 37,651 Other deposits 181,699 2,851 117,906 Total deposits 7,265,238 365,1943,137,760 609,920 65,558 140,995 Deferred availability items 132,193 9,376 Capital paid in 51,273 145,854 9,826 Surplus (Section 7) 51,474 27,490 Surplus (Section 13 b) 2,874 7,744 Reserve for contingencies 35,993 1,570 9,110 446 All other liabilities 6,833 1,610 TOTAL LIABILITIES Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 311,295 427,177 192,935 184,090 970,585 179,701 141,397 160,930 90,645 330,129 436,590 2,4l4 10,162 1,495 466,656 230,235 176,569 1,015,843 199,242 124,043 241,605 177,706 522,295 / m z J. i r o T O o ^ i ). ir J.J. ^ o a i T n o n r- <y~ij. J. /r\o r\ / / 5,874 1,980 4,915 4,152 1,826 14,544 2,303 9,454 4,403 2,385 3,007 3,007 9,540 4,459 3,630 12,029 3,111 ,363 171 5,274 13,200 3,955 21,971 3,607 2,421 1,653 7,195 450,661 49,356 12,241 13,362 4,325 3,000 499 503,082 242,453 184,446 lp44,069 211,851 132,363 250,657 190,390 552,312 61,428 50,258 22,669 85,901 29,423 15,601 32,716 24,789 31,226 12,855 4,856 2,898 3,993 3,864 10,112 4,317 12,602 3,806 14,323 4,869 5,616 21,504 4,655 3,116 3,613 3,851 9,645 1,142 1,262 1,996 1,007 3,422 1,416 754 545 1,003 941 1,847 2,037 3,121 1,522 1,690 7,888 1,198 2,069 263 480 1,394 579 287 395 311 314 255 12,431,243 774,535 4^99,113 844,739 1,023,572 500,710 403,869 2^45,359 431,493 298,758 454,255 316,903 937,937 Contingent liability on bills purchased for foreign correspondents 1,034 Commitments to make industrial advance s 17,454 76 373 101 95 45 36 120 .31 24 30 30 73 2,335 6,299 167 1,350 2,182 354 10 1,001 65 134 302 3,255 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted Bills bought Industrial advances U.S.Government securities 16,835 3,739 22,854 2,526,290 Within 15 days 16 to 30 days 15,911 95 20'6 243 837 245 27,420 26,007 6 months to 1 Year 61 to 90 days 91 days to 6 months 119 541 511 2,749 171 28 63,221 1,108 65,208 1,634 351,765 3,728 376,376 31 to 60 days 586 1 Year to 2 Years 2 Years to 5 Years 5 Years 5,517 254,971 9,199 679,815 681,507 Over FEDERAL RESERVE NOTE STATEMENT ON MAI 5, 1937 (in thousands of dollars) B-801b Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Ilinn. Kans. Cy. Dallas San Fran. Fsd ©i*stX Hb* s g no t/ s s • Issued to F.R.bank by F.R.agent 4,>496,178 335,645 1,GOA,522 328,785 452,246 203,962 203,351 993,787 187,953 145,330 171,649 98,164 370,784 Held by Federal Reserve bank 286,456 15,954 105,375 17,490 25,069 11,027 19,261 23,202 8,252 3,933 10,719 7,519 40,655 In actual circulation 4,207,722 319,691 899,147 311,295 427,177 192,935 184,090 970,585 179,701 141,397 160,930 90,645 330,129 Collateral held by agent as security for notes issued to bank! Gold certificates on hand and due from U. S. Treasury Eligible paper U. S. Gov't securities Total collateral 4,521,132 356,000 1,010,000 332,000 454,000 204,000 180,000 ipi0,000 174,632 139,000 174,000 98,500 389,000 16,759 l,l44 7,442 1,775 252 265 1,868 520 264 805 371 920 1,133 52,000 — _ _ _ _ _ — 30,000 — 15,000 7,000 — — — 4,589,891 357,144 1,017,442 333,775 454,252 204,265 211,8681,010,520 189,896 145,305 174,371 99,420 390,133
@FedFRASER