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Form FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, Nov, 4; not earlier. Board of Governors of the Federal Reserve System November 3, 1938 CONDITION OF FEDERAL RESERVE BANKS During the week ended November 2 member bank reserve balances decreased $54-,000,000. Reductions in member bank reserves arose from increases of $52,000,000 in money in circulation and $51,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by decreases of §16,000,000 in Treasury cash and $8,000,000 in Treasury deposits with Federal Reserve banks and increases of $20,000,000 in gold stock, $2,000,000 in Reserve bank credit and $3,000,000 in Treasury currency. Excess reserves of member banks on November 2 were estimated to be approximately $3,220,000,000, a decrease of $60^000,000 for the week* Changes in member bank reserve balances and related items during the week and the year ended November 2, 1938, were as follows» Increase or decrease since Nov, 2, Oct, 26,r ._1928 NOV. 3, 1937 (In millions of dollars) Bills discounted 8 Bills bought 1 U* S. Government securities 2,564 Industrial advances (not including 13 million commitments - November 2) 15 Other Reserve bank credit ~6 + 1 — __ + 16 2 38 + + 4 7 Total Reserve bank credit Gold stock Treasury currency + 2 + 20 + 3 + 23 +1,267 + 144 + + +1,797 + l4l - 911 + 465 59 Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R. banks Nonmember deposits and other F,R. accounts 2,582 14,071 2,752 8,686 6,706 2,751 576 686 1 54 52 16 8 51 - Form FRr>£83~a Released for publication Friday morning, November •4,1938; not earlier* ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousand; of dollars) Increase or decrease since Nov. 2, 1938 Oct. 26, 193.8 Nov* 3, 1937 ASSETS Gold certificates on hand and due from U. S* Treasury Redemption fund - F. R. notes Other cash Total reserves Bills discounted* 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 11,287,700 8,1-41 368,202 + 34,989 662 - 10*582. +2,162,804 - 1,240 + 60,057 12,664,0^3 +. .23¿'44 +2*221,621 4,902 ____ 2*176 8,078 + 537 + 306 + 843 - 12,048 .-_.~_4*122 - 16,241 15,148 - 188 - 2,291 - 4,204 787,327 1,164,565 612.123 — + 49,254 + 6,102 ...-1.7,53.1. Total U.S. Government securities 2,564,015 — + 37,825 Total bills and securities 2,587,782 180 21,908 621,464 44,202 48,917 - 1,195 +34,810 - 80 + 350 + 15,089 + 7 - 5,354 +39, M 4 - 1,162 + 8,187 14,988,496 +58,284 +2,277,932 F. R. notes in actual circulation Deposits* Member bank — reserve account U. S. Treasurer - General account Foreign bank Other deposits 4,319,756 +35,379 + 35,597 8,685,986 575,944 201,272 224,845 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 9,688,047 627,645 133,992 147,739 27,683 32,707 10.927 -54,097 - 8,209 -11,222 _+6l»242 -10,281 +33,767 +1,797,043 + 465,118 - 52,664 2*2.42 +2,206,554 + 32,205 + 1,310 + 1,885 + 68 “ 3,035 _±..J.i2.48 Due from foreign banks F. R, notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS + 655 LIABILITIES Commitments to make industrial advances 14,988,496 + 4 - 585 +58,284 +2,277,932 + •!% +3*0$ 324 - l4 -1,895 13,320 - 1,221 -1,083 83.3% Form Fft-283—b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON NOVEMBER 2, 1938 (in thousands of dollars) A S S E T S Total Boston New York Phila. Gold certificates on hand and due from U. S. Treasury 11,287,700 659,597 4,814,129 501,283 Redemption fund S,l4l 501 874 563 Other cash 368,202 38,832 105,648 32,422 Total reserves 11,664,043 698,930 4,920,651 534,268 Bills discounted* Secured by U.S.Gov,t obligations direct or fully guaranteed 4,902 145 2,291 865 Other bills discounted 3,176 358 30 545 Total bills discounted 8,078 2,649 1,410 175 Bills bought in open market 4l 541 211 55 Industrial advances 15,148 2,242 3,628 3,050 U. S. Government securities* Bonds 787,327 59,255 250,391 68,403 Treasury notes 1,164,565 87,647 370,360 101,177 Treasury bills 612,123 46,069 194,671 53,181 Cleve. Rich. Atlanta Chicago St.Louis Minn* Kans.Cy. Dallas San Fran. 728,547 358,113 259,509 2,110,926 331,517 245,133 312,823 203,459 1,064 292 209 432 912 636 568 237 23,270 22,431 12,698 49,784 16,562 8,539 15,149 12,343 762,664 1,853 30,524 752,881 380,836 272,4l6 2,161,142 348,991 254,308 328,540 216,039 795,041 286 259 84 110 153 451 155 102 180 155 154 188 n4 791 137 102 338 85 545 50 639 194 6o4 19 149 257 67 415 335 3 43 342 2 1,042 905 16 401 239 16 781 423 38 1,303 34,774 28,943 51,438 42,812 27,036 2.2,503 62,242 92,064 48,391 79,168 117,101 61,551 23 1,455 36,947 32,096 54,649 47,473 28,725 24,953 84,870 32,792 17,446 125,535 48,504 25,805 65,984 25,495 13,564 Total U.S.Gov’t securities 2,564,015 192,971 815,422 222,761 257,820 120,321 104,522 276,389 1-06,791 56,815 113,248 94,258 202,697 Total bills and securities 2,587,782 195,429 Due from foreign banks 180 13 F.R.notes of other banks 21,908 759 Uncollected items 621,464 71,048 Bank premises 44,202 2,954 All other assets 48,917 3,146 821,910 227,276 259,054 121,993 105,294 6 16 8 1,866 1,147 1,530 65,586 53,852 22,347 6,o4l 2,083 2,634 2,808 2,230 5,447 277,128 107,172 58,201 114,570 95,294 204,461 2 5 3 1,517 2,013 1,633 27,544 I6,4l4 33,375 2,301 3,097 1,539 l,84o 1,278 1,955 5 421 24,205 13 2,792 32,979 1,791 3,995 TOTAL ASSETS 18 69 4,612 833 143,849 48,415 9,808 4,720 4,581 15,149 22 2,785 81,850 4,499 4,697 1,266 3,260 14,988,496 972,279 5,9l6,o4S 820,111 1,090,172 563,997 405,906 2,532,123 489,864 333,259 483,175 339,021 l,042,54l Form FR—283-c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAIIKS ON NOVEMBER 2, 1938 (In thousands of dollars) LI A B I L I T I E S TOTAL LIABILITIES 984,961 308,306 443,727 4,34lf321 382,135 36,196 102,543 18,084 14,438 72,730 19,652 9,688,047 498,964 4,670,286 428,913 627,645 70,759 138,651 49,882 133,992 9,412 50,903 12,212 147,739 9,900 51,943 13,466 27,683 2,874 7,744 4,411 1,448 32,707 8,210 2,000 10,927 767 3,350 921 Rich. Atlanta Chicago St .Louis Minn. Kans. Cy. Dallas ¿an Fran. 969,836 181,502 133 ,7l4 167,793 80,481 345,945 469,487 232,184 169,602 1,336,640 220,773 114,139 230,311 178,558 74,158 44,299 4l,601 67 ,368 36,397 51,316 33,976 34,038 23,863 6,016 4,612 5,816 5,816 18,449 8,623 7,019 2,228 6,037 3,154 1,079 2,757 567,109 35,968 l4,238 19,734 411,978 208,755 148,330 H \0 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies 411 other liabilities 378,155 Cleve. 223,808 576,502 68,854 52,439 20,625 4,992 4,471 13,389 4,964 5,626 14,323 730 1,007 3,409 3,176 l,4oi 1,603 4o6 943 713 $ O « F.R. notes in actual circulation 4,319,756 Depositsi Member bank - reserve account 8,685,986 U.S.Treasurer - General account 575,944 Foreign bank 201,272 Other deposits Boston New York Phila. H Total 86,669 13,294 22,387 1,429 7,063 1,346 269,223 173,221 271,182 221,169 28,393 16,807 33,942 26,192 3,948 2,908 3,924 4,195 3,892 4,667 3,613 3,153 1,001 1,142 1,270 545 1,880 935 1,776 1,215 575 395 373 293 637,049 34,432 10,344 9,805 2,121 2,000 845 14,988,496 972,279 5,916,048 820,111 1,090,172 563,997 405,906 2,532,123 489,864 333,259 483,175 339,021 1,042,541 Contingent liability on bills purchased for foreign correspondents 324 Commitments to make industrial advances 13,320 23 116 32 30 14 11 39 10 8 9 9 23 1,342 3,540 254 1,473 1,657 172 13 587 227 523 50 3,482 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Bills discounted Bills bought industrial advances U.S.,Government securities 16 to 31 to Total Within 15 days 30 days 60 days 6l to 90 days 8,078 541 15,148 2,564,015 6,147 128 1,273 105,835 493 154 326 98,243 530 94 738 177,688 401 165 553 187,657 6 months 91 days to to 1 Year 6 months 478 1,883 126,266 29 — 3,496 155,663 1 Year to 2 Years .. . - — 4,683 398,744 2 Years to 5 Years Over 5 Years __ — 2,196 607,337 —" — 706,582 Form FR—283-d FEDERAL RESERVE NOTE STATEMENT ON NOVEMBER 2, 1938 (In thousands of dollars) Total Boston New York Phila# Cleve. Rich. Atlanta Chicago St.Louis Minn* Kans.Cy. Dallas San Fran. Federal Reserve notes* Issued to F.R,bahk by F.R.agent 4,579,253 394,809 1,072,441 323,587 435,157 218,784 159,679 Held by Federal Reserve bank 259,497 16,654 87,480 15,281 23,179 10,029 11,349 „actual circulation 4,319,756 378,155 984,961 308,306 411,978 208,755 148,330 987,177 192,867 139/32 176,04l 17,341 11,365 5,718 8,248 86,998 392,281 6,517 46,336 969,836 181,502 133,714 167,793 80,481 345,945 Collateral held by agent as secu rity for notes issued to bank* Gold certificates on hand and due from U. S. Treasury 4,668,000 400,000 1,092,000 327,000 442,000 225,000 161,000 1 ,010,000 196,000 l4l,500 180,000 Eligible paper 7,182 145 2,543 1,030 34l 194 574 257 335 2l4 887 Total collateral 89,500 404,000 239 423 4,675,182 400,145 1,094,543 328,030 442,34-1 225,194 161,574 1,010,257 196,335 l4 l,7 l4 180,887 89,739 4o4,423
@FedFRASER