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Form FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, Sept, 15; not earlier, Board of Governors of the Federal Reserve System September 14, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended September 13 member bank reserve balances increased $385,000,000. Additions to member bank reserves arose from increases of $230,000,000 in Reserve bank credit, $82,000,000 in gold stock and $3,000,000 in Treasury currency and decreases of $26,000,000 in money in circulation, $37,000,000 in Treasury cash and $61,000,000 in Treasury deposits with Federal Reserve banks, offset in part by an increase of $54,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on September 13 were estimated to be appropriately $5,270,000,000, an increase of $300,000,000 for the week. The principal change in holdings of bills and securities was a net increase of $230,000,000 in United States Government securities, direct and guaranteed. Holdings of bonds and notes increased $248,000,000 and $7,000,000, respectively, while holdings of bills decreased $25,000,000, Changes in member bank reserve balances and related items during the week and the year ended September 13 , 1939, were as follows» Increase or decrease since Sept, 13, 1939 Sept, 6 , "1939 Sept. 14-, 1938 (In millions of dollars) Bills discounted 7 Bills bought 1 U. S. Government securities,direct and guaranteed 2,824 Industrial advances (not including 11 million commitments - Septftnber 13 ) 12. Other Reserve bank credit 30 — +230 --- + 260 4 — — + 21 2,911 +23O + 82 + 3 + 277 +3,337 + 178 11,526 7,235 2,227 615 989 +385 - 26 - 37 - 61 + 54 +3,101 + 685 - 532 + 269 + 319 Total Reserve bank credit Gold stock Treasury currency 16,808 Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R. banks Nonmember deposits and other F, R. accounts + 1 2,873 Form FR-283-a Released for publication Friday morning, Sept. 1$,1939; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) 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 and guaranteed Other bills discounted Total bills idscounted Bills bought in open market Industrial advances U. S. Government securities, direct and guaranteed* Bonds Notes Bills Total U. S, Government securities, direct and guaranteed Total bills and securities Due from foreign banks F, R. notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS 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 Sept, 13 , ...193.?....... Increase or decrease since Sept, 6 , Sept. 14, 1938 1939 14,576,719 8,288 .124*422 14,909,429 +124,498 356 + 16,641 +.140,783 1,556 ... ..1ML 7,253 546 11,617 + 10 + 1,245 + 1,255 — +3,946,986 — 1,144 - 54,990 +3,890,852 + + + 2,270 2,569 299 6 10 4,230 1 ,268,800 1,245,497 309,420 +247,581 + 6,924 - 25,200 + 524,695 + 49,309 - 314,302 2,823,717 +229,305 + 259,702 2,843,133 177 26,389 733,764 77,469 18,632,527 +230,550 — + 3,089 +146,821 + 4 + M 1237 +537,484 + 255,777 4 903 5,980 2,241 + 20,467 +4,157,968 4,678,992 - 4,724 + 478,163 11,525,708 615,386 450,076 ...„191,296 +385,100 - 60,169 + 52,893 + 14,048 +3,100,372 + 269,081 + 283,416 + 55.968 12,896,466 704,124 +391,872 +3,708,837 26,824 6.243 + 2,686 18,285,825 +537,127 42,166 +147,293 + 1 .. .112 . +4,159,843 + + 1,506 135,497 149,152 27,264 34,789 — — +.,__ 256 1,413 419 T ...._4>175 18,632,527 +537,484 +4,157,968 84.8$ 1 ,1$ 2.5$ I83 101 10,919 + 12 2,562 Ebrm FR—283—b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 13 , 1939 (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 14,576,719 Redemption fund — F.R. notes 8,288 Other cash 324,422 816,196 7,132,530 298 1,137 718,268 680 Total reserves 14,909.429 Bills discounted* Secured by U.S. Gov*t obligations, direct and guaranteed 1,556 Other bills discounted 5,697 24,249 88,285 26,328 840,743 7,221,952 745,276 85 Cleve. Rich. Atlanta Minn. Kans.Gy. Dallas San Fran. 839,216 377,329 302,164 2 ,322,254 378,953 258,233 352,846 237,044 821 1,005 607 818 417 366 621 454 9,402 18,802 15,560 841,686 1,064 26,526 862,234 396,591 319,395 2,365,721 394,913 268,001 372,269 253,058 869,276 22,197 18,257 16,624 4-2,649 15,543 72. 245 43 145 84 68 289 19 346 55 673 317 69 371 127 68 2 816 289 365 24 1,054 165 19 751 16 203 549 728 39 1,042 108,305 106,315 127,261 68,011 124,923 66,761 31,035 16,586 52,377 51,417 12,773 1,139 3,279 41 196 13 235 69 137 85 41 1,745 4,418 237 55 2,679 248 51 364 206 — Chicago St.Louis 20 — — Total bills discounted 7,253 Bills bought in open market 546 Industrial advances 11,617 U. S. Government securities } direct and guaranteed* Bonds 1 ,268,800 Notes 1,245,497 Bills 309,420 Total U.S.Gov’t securities 1 direct and guaranteed 2,823,717 92,609 90,908 22,584 384,699 206,101 856,149 241,032 283,219 151,358 116,567 302,917 124,277 77,644 133,336 104,577 22.6,540 Total bills and securities 2,843,133 Due from foreign banks 177 F. R. notes of other banks 26,389 Uncollected items 733,764 Bank premises 42,166 Other assets 77,469 207,972 13 711 72,680 2,908 4,968 862,819 67 5,561 173,573 8,912 23,005 244,003 18 1,313 49,312 4,615 9,010 283,882 152,642 117,502 6 16 8 1,459 2,313 2,022 88,687 64,028 24,675 303,674 124,409 78,530 133,844 105,507 £ 22 2 2 5 2,620 1,388 1,397 1,369 703 105,004 33,430 21,128 34,142 26,703 3,890 2,261 1,505 3,144- 1,222 7,409 3,057 2,090 3,318 2,711 228,349 13 5,533 40,402 3,174 6,128 TOTAL ASSETS 212 2,040 377,634 93,816 26,412 5,918 7,989 2,570 4,591 2,047 3,193 2 3 16 136,112 55,842 34,888 59,913 46,990 101,793 133,612 54,817 34,248 58,812 46,127 99,923 14,611 13,618 8,508 11,460 24,824 33,193 18,632,527 1,129,995 8,295,889 1,053,547 1,250,135 622,743 468,840 2,788,340 559,460 372,653 548,091 389,909 1,152,875 Forn FR—28>-c LIABILITIES Total F_ R. notes in actual cir 4,678,992 culation Deposits* Llenber bank-reserve account;11,525,708 U.S.Treasurer-General account 615,386 450,076 Foreign bank 305,296 Other deposits Total deposits 12,896,466 Deferred availability itens 704,124 Other liabilities including accrued dividends 6,243 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS OH SEPTEMBER 13 , 1939 (in thousands of dollars) Boston Hew York Phila. Cleve. Rich. Atlanta CJhicago St.Louis Minn. Kans.Cy. Dallas San Fran. 397,206 1 ,183,632 328,469 434,497 210,811 154,343 1,026,671 182,010 135,377 175,773 80,455 369,748 550,253 6,343,847 47,062 117,448 32,300 160,847 6,991 211,429 540,693 51,796 43,642 5,951 590,783 276,086 210,679 1,503,424 267,403 147,869 267,726 213,801 47,774 38,708 45,555 42,593 46,311 46,630 45,355 43,990 54,440 13,048 10,348 13,048 13,043 41,842 19,346 15,747 16,361 1,926 5,524 5,578 9,165 1,437 6,719 1,733 613,144 42,164 32,420 32,432 636,606 6 ,833,571 696,760 336,066 277,505 1,609,622 333,481 210,425 327,566 272,572 106,926 33,123 17,591 34,434 25,700 85,922 60,879 24,153 720,210 101 165 71,871 157,919 642,082 47,712 398 1,339 2,879 289 84 150 234 253 131 170 37 o '39 TOTAL LIABILITIES . 18,285,325 1 ,106,081 8,176,461 1,021,142 1,217,468 607,840 456,151 2,743,503 543,872 363,524 537,993 378,828 1,127,962 CAPITAL A C C0 UH T S 4,296 13,793 Capital paid in 12,116 5,116 4,56l 10,618 3,994 2,917 4,047 50,372 135,497 9,399 13,763 22,666 Surplus (Section 7) 4,983 5,630 13,696 3,392 149,152 4,685 10,033 9,965 3,613 52,463 3,153 14,323 1,001 1,142 1,266 Surplus (Section 13b) 2,121 4,416 1,42.9 545 1,007 27,264 2,874 73.3 3,293 7,457 Other capital accounts 1,376 2,058 6,944 1,047 1,364 8,636 1,511 1,785 2,209 34,789 2,177 3,624 1,558 TOTAL LIABILITIES AUD CAPITAL ACCOUNTS 18,632,527 1,129,995 8,295,839 1,053,547 1,250,185 622,743 463,840 2,788,340 559,460 372,653 543,091 389,909 1,152,875 Contingent liability 6n bills purchased 12 2 7 10 4 4 for foreign correspondents 101 10 3 7 36 3 3 Connitnents to nake industrial 596 — 64 3,410 advances 595 1,940 1,337 1,471 913 139 30 424 10,919 MATURITY DISTRIBUTION' OF BILLS AND SECURITIES Over 1 Year 6 nonths 2 Years to 61 to 91 days to Within 16 to 31 to to 1 Year to 2 Years 5 Years 6 months 5 Years Total 15 days 30 days 60 days 90 days — — — 153 Bills discounted 4,406 1,788 647 2.51 3 7,253 --— — . — —— Bills bought 546 115 315 93 23 2,498 — — 2,310 208 506 2,525 Industrial advances 380 11,617 1,317 1,873 U. S. Government securities, 589,282 1,171,413 300,433 347,365 direct and guaranteed 125,380 78,077 105,749 67,050 2,823,717 38,913 Form FTl— 283—cl FEDERAL RESERVE NOTE STATEEEHT ON SEPTEMBER 13, 1939 (In thousands of dollars) Total Boston Net/ York Phila. Federal Reserve notes» Issued to F.R.bank by F.R.agent Held by Federal Reserve boak In actual circulation Oleve. Rich. Atlanta Chicago St,Louis Minn. Kans.Cy, Dallas San Fran. 4,983,108 424,070 1,281,368 343,402 457,648 221,268 166,164 1,055,222 194,535 140,025 184,097 90,948 423,561 304,116 26,864 97,736 14,933 23,151 10,457 11,821 28,551 12,525 4,648 9,124 10,493 53,813 4,678,992 397,206 1 ,183,632 328,469 434,497 210,811 154,343 1,026,671 182,010 135,377 175,773 80,455 369,745 Collateral held by agent as se curity for notes issued to bahkt Gold certificates on hand and due from U. S. Treasury Eligible paper Total collateral 5,066,000 430,000 1,303,000 350,000 460,000 225,000 169,000 1,065,000 196,000 141,500 188,000 94,500 444,000 2,792 85 2,266 41 — 120 -— 44 6 230 — 5,068,792 430,085 1,305,266 350,041 460,000 225,120 169,000 1,065,0-0 196,044 141,506 188,230 94,500 44:4,000
@FedFRASER