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Fora 283 STATEMENT FOR THE PRESS Released for publication Friday morning, Nov. 3; not earlier. Board of Governors of the Federal Reserve System November 2, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended November 1 member bank reserve balances decreased $136 ,000,000» Reductions in member bank reserves arose from increases 0:? $50,000,000 in money in circulation, $20,000,000 iu Treasury cash, $23,000,'€0 in Treasury deposits with Federal Reserve banks, and $99,000,000 in nonmember deposits and other Federal Reserve accounts,and a decrease of $6,000,000 in Reserve bank credit, offset in part by increases of $60,000,000 in gold stock anc. $3,000,000 in Treasury currency# Excess reserves of member banks on November 1 were estimated to be approximately $5 ,380,00.',,000, a decrease of $150,000,000 for the v/eek. The principal change in holdings of bills and .securities was a decrease of $15,000,000 in holdings of United States 'Treasury bills. Changes in member bank reserve balances and related items during the \7ecl: and the year ended November 1 , 1939, were as follows» Increase or decrease since Nov, 1 , 1939 Oct. 25, 1939 Nov. 2 , 1938 (in millions of dollars) Bills discounted Bills bought U. S. Gov*t securities, direct and guaranteed Industrial advances (net including 10 million comcitiuents - November l) Other Reserve bank credit 6 — 2,723. — _ — - 15 2 1 + 157 12 26 + 8 + Total Reserve bank credit Gold stock Treasury currency 2,765 17,099 2,932 — 6 + 60 + 3 + IG3 +3,028 + 180 Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R. banks Nonmember deposits and other F. R. accounts 11,G U 7,352 2,250 3^9 1,031 -136 +3,128 + 646 - 501 - 227 + 345 — + + + + 50 20 23 99 3 32 Form FR-283-a Released for publication Friday morning, Nov. 3»1939; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Nov. 2, Oct. 25, Nov. 1, J22L ASSETS Gold certificates on hand and 14 ,839,206 +3,551,506 + 34,996 due from U, S. Treasury 8,846 80 Redemption fund — F, R. notes t705 - ._2Jk22A 339.868 Other cash - 4,413 +3,523,877 15,187,920 Total reserves + 30,503 Bills discounted: Secured by U. S.Gov*t obligations, 3,722 direct and guaranteed + 187 1,180 + + 310 5.068 1,892 Other bills discounted 1,830 6,248 + 497 Total bills discounted 541 Bills bought in open market 3,468 83 Industrial advances 11,680 U. S. Government securities, direct and guaranteed: —. + 528,615 1,315,942 Bonds + 80,932 1,245,497 Notes - 14.940 159. .380 Bills .452*742 Total U. S. Government securities, direct and guaranteed 2,720,819 + 156,804 - 14,940 Total bills and securities Due from foreign banks F.R. notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS 2,738,747 47 22,133 716,496 42,037 69.492 - 14,526 — - 1,252 + 54,239 71 + 56 + 150,965 133 + 225 + 95,032 — 2,165 + 20,575 18,776,872 + 68,949 +3,788,376 4,781,385 + 37,668 + 461,629 11,813,664 349,030 470,881 319.449 12,953»024 690,547 -136,782 + 23,027 + 51,983 + 46,575 - 15,197 + 46,459 +3,127,678 — 2.26,914 + 269,609 + 94,604 +3,264,977 + 62,902 4.278 18,429,234 ± __ ill + 69,061 102 +3,789,406 135,580 149,152 27,264 35.642 18,776,872 + + + LIABILITIES F. R. notes in actual circulation Deposits * Member bank - reserve account U.S.Treasurer - General account Foreign bank Other deposits Total deposits Deferred availability items Other liabilities including accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 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 — — 23 135 + 68,949 85.6% — 101 10,023 — 1,588 1,413 419 - ___L,612 +3,788,376 + 133 2.3 - 223 «M« 3,297 Fora FR—283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON NOVEMBER 1, 1939 (In thousands of dollars) ASSE T S Total Boston ttew York Phila* Gold certificates on hand and due from U. S. Treasury 14,839,206 Redemption fund — F.R. notes 8,846 Other cash 339,868 855,218 7,084,774 1,116 1,345 29,691 84,374 752,121 886,025 7,170,493 Total reserves 15,187,920 Bills discounted» Secured by U. S. Gov't obligations, direct and guaranteed 1,180 Other bills discounted 5,068 Total bills discounted 6.248 100 — Cleve. Rich. Atlanta Chicago St.Loüis Minn. Kans.Cy. Dal".as San Fran. 29,977 918,407 384,272 273,151 2,511,503 412,228 246,089 335,535 215,142 4o6 348 968 552 840 327 536 575 42,598 22,116 22,912 18,420 14,515 8,835 19,249 16,911 850,766 1,450 30,270 782,481 941,059 407,759 291,919 2,555,069 427,533 255,251 355,336 232,459 882,486 383 55 275 1,525 321 362 90 141 108 417 482 231 1,013 678 525 444 173 491 120 664 338 60 146 206 100 i4i 65 1,124 4 101 30 299 241 818 1,189 105 518 329 1,055 1,800 376 Industrial advances 11,680 U. S. Government securities, direct and guaranteed» Bonds 1,315,942 Notes 1,245,497 Bills 159,380 100 1,520 1,983 3,144 95,198 90,103 11,530 416,243 393,960 50,413 113,099 107,045 13,698 136,970 66,623 52,392 129,638 63,058 49,588 16,589 8,069 6,345 143,719 44,106 35,087 57,079 46,951 136,025 41,744 33,209 54,781 44,438 5,686 17,407 5,342 4,250 7,010 107,675 101,908 13,041 Total U.S. Gov*t securities. direct and guaranteed 2*720,819 196,831 860,616 233,842 283,197 137,750 108,325 297,151 91,192 72,546 119,670 97,075 222,624 198,451 864,399 18 4,236 175,119 8,888 22,193 237,362 5 895 47,739 4,594 5,998 284,199 139,245 109,234 2 2 4 1 ,A86 1,851 2,702 87,404 •61,507 27,658 5,894 2,557 2,041 7,652 4,078 2,930 298,120 91,405 73,605 121,021 97,698 6 1 * 1 1 2,99? 1,427 1,207 1,687 446 91,065 30,545 18,990 34,103 25,042 3,871 2,251 1,501 3,119 1,266 6,991 2,180 1,886 2,859 2,4l8 224,008 4 2,621 39,640 3,157 5,771 Total bills and securities 2,738,747 Due from foreign banks 47 F.R. notes of other banks 22,133 Uncollected items 716,496 Bank premises 42,037 Other assets 69,492 TOTAL ASSETS 33 576 77,684 2,898 4,536 7 162 18,776,872 1,170,173 8,245,346 1,079,074 1 ,328,063 617,850 435,270 2,958,121 555,392 352,440 518,126 359,330 1,157,687 *Less than $500. Pom FR-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON NOVEMBER 1, 1939 (in thousands of dollars) LIABILITIES Total F^R. notes in actual cir culation 4,781,385 Deposits* Member bank-reserve account 11,813,664 U.S.Treasurer-General account 349,030 Foreign bank 470,881 Other deposits 319,449 Total deposits Deferred availability itens Other liabilities including accrued dividends 12,953,024 Minn. Kans.Cy, Dallas San Fran. Phila. 400,305 1,202,765 333,989 440,096 223,798 160,345 1,047,750 188,998 137,913 179,269 83,775 382,382 608,174 6 ,256,122 21,441 112,045 33,889 168,062 5,881 218,646 585,326 16,904 45,674 18,333 666,237 668,843 278,215 195,014 1,670,938 290,947 152,126 263,863 40,158 12,915 20,825 16,047 42,662 19,169 18,923 20,247 16,480 56,975 13,655 10,830 13,655 43,791 5,486 1,105 5,588 8,308 12,832 2,953 5,990 768,128 320,584 236,407 1,773,659 325,825 189,267 294,670 13,655 4,300 632,561 .16,730 33,968 30,027 240,701 713,286 91,420 29,814 16 ,0r9 33,906 23,658 36,802 669,385 6,754,875 Cleve, Rich. Atlanta Chicago St,Louis Boston New York 690,547 76,117 166,223 45,942 4,278 371 1,477 438 86,614 58,435 25,607 .410 121 193 413 167 131 211,535 11,211 179 261 117 TOTAL LIABILITIES 18,429,234 1,146,178 8,125,340 1,046,606 1,295,248 602,938 422,552 2,913,242 544,804 343,320 508,024 348,251 1,132,731 CAPITAL ACCOUNTS Capital paid in 13,796 5,107 4,561 10,621 13,805 4,004 2,919 4,303 4,051 135,580 9,384 50,912 12,117 Surplus (Section 7) 5,630 22,666 13,696 3,892 10,083 52,463 9,965 149,152 4,685 4,983 3,613 3,153 14,323 Surplus (Section 13b) 2,121 4,4l6 1,007 3,293 713 1,429 27,264 2,874 7,457 545 1,001 1,142 1,266 Other capital accounts 6,979 1,354 2,047 1,044 1,870 35,642 2,249 2,239 3,689 1,529 1,814 1,654 9,174 TOTAL LIABILITIES AND 18,776,872 1,170,173 8,245,346 1,079,074 1 ,328,063 617,850 435,270 2,958,121 555,392 352,440 518,126 359,330 1,157,687 CAPITAL ACCOUNTS Contingent liability on bills purchased 101 for foreign correspondents Connitments to nake industrial advances 10,023 Bills discounted Industrial advances IT*. S. Government securities, direct and guaranteed Total 6,248 11,680 2,720,819 7 36 493 1,885 •10 3 2 3 64 567 Within 15 days 1,404 1,585 78 22 1,358 410 857 935 MATURITY DISTRIBUTION OF BIl^LS A1JD SECURITIES 61 to 91 days to 6 nonths 16 to 31 to 6 nonths to 1 Year 30 days 60 days 90 days 576 130 515 3,578 45 98 700 1,051 2j,089 891 54,675 69,280 35,425 10 4 4 161,705 12 138,783 7 3 — 3,354 1 Year 2 Years to Over to 2 Years 5 Years 5 Years — ----- ----- 2,961 2,305 - 348,829 693,567 1,218,555 Form FR—283-d FEDERAL RESERVE NOTE STATEMENT ON KOVE.IBSR 1, 1939 (in thousands of dollars) Total Boston Nev? York Phila. Gleve. Rich. Atlanta Chic'.go St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes; In actual circulation 4,781,385 400,305 1,PD2,765 333,989 440,096 223,798 160,345 1,047,750 188,998 137,913 179,269 83,775 382,382 Collateral held by agent as se curity for notss issued to bank: Gold certificates on hand and due from u, S. Treasury Eligible paper Total collateral 5,166,000 440,000 1,305,000 360,000 465,000 237,000 174,000 1,090,000 203,000 143,500 190,000 94,500 464,000 2,132 100 370 55 — 340 — — 110 144 1,013 — — 5 ,168,132 440,100 1,305,370 360,055 455,000 237,340 174,000 1 ,090,000 203,110 143,644 191,013 C4,500 464,000
@FedFRASER