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Form FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, Sept. 22; not earlier. Board of Governors of the Federal Reserve System September 21, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended September 20 member bank reserve balances increased $235000,000. Additions to member bank reserves arose from increases of £94,000,000 in gold stock, $10,000,000 in Reserve bank credit, and ¿4,000,000 in Treasury currency, offset in part by increases of $^45,000,000 in Treasury cash, ¿4,000,000 in Treasury deposits with Federal Reserve banks, and ¿34,000,000 in ncnne:.iber deposits and otherFederal Reserve accounts. Excess reserves of member banks on September 2.0 were estimated to be approximately ¿5,280,000,000, an in crease of ¿10 ,000,000 for the week. The principal change in holdings of bills and securities was a net increase of ¿2,000,000 in United States Government securities, direct and guaranteed; hold ings of bonds increased ¿-39,000,000r while holdings of bills declined ¿3 7 ,000,000. Changes in member bank reserve balances and related items during the week and the year ended September 20, 1939, were as followsi Increase or decrease since Sept. 20, 1939 Sept. 13 , 1939 Sept. 21, 1938 (In millions of dollars) 3ills discounted Bills bought U. S. Government securities,direct and guaranteed Industrial advances (not including 11 million commitments - September 20) Other Reserve bank credit - 1 + 2 + 262 12 — + 8 + 31 + 10 + 94 + 4 + 287 +3,31^ + 180 23 1 +3,535 + 684 - 561 - 298 + 420 38 Total. Reserve bank credit Gold stock Treasury currency 2,883 16,902 Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R. banks Nonmember deposits and other F. R. accounts 11,549 7,236 2,272 619 2 6 1 2,826 2,915 1,023 — — + + + + + 45 4 34 4 Form FR-283-a Released for publication Friday morning, Sept. 22,1939; not earlier, STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Sept, 13 , Sept, 21, Sept. 20, 1938 1939 1939 ASSETS Gold certificates on hand and 14,621,718 due from U.S. Treasury + 44,999 +3,901,977 ----8,288 402 Redemption fund - F. R. notes 334,281 Other cash + 9,859 - ■49,058 14,964,287 + 54,858 +3,852,517 Total reserves Bills discounted« Secured by U. S. Gov*t obligations, 4,537 587 969 direct and guaranteed! + 1,078 Other bills discounted ....4,619 .. .Ailll 5,588 2,624 Total bills discounted - 1,665 1 + Bills bought in open market 545 5 4,016 11,667 + 50 Industrial advances U. S. Government securities, direct and guaranteedt 1 ,308,616 + 39,816 + 519,961 Bonds — + 80,292 1,245,497 Notes — 337,785 272,370 37,050 Bills Total U. S. Government securities, 2 ,826,483 262,468 + 2,766 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 t Member bank - reserve account U. S. Treasurer - General account Foreign bank Other deposits Total deposits Deferred availability items Other liabilities including accrued dividends TOTAL. L I A B I L I T I E S CAPITAL + 1,150 + 1 - 4,876 - 13,451 7 - 10,698 + 255,833 3 5,518 + 109,492 2,246 + 20,056 18,659,504 + 26,977 +4,230,131 4,677,608 - 1 ,384 + ■ 476,439 11,549,309 618,613 495,787 285,554 12,949,263 682,167 3.894 + + + + - 23,601 +3,535,773 3,227 45,711 19,742 52,797 21,957 - 298,465 + 300,288 + 139,544 +3,£77,140 + 78,466 18,312,932 325 - 2*249 + + 27,107 +4,232,370 135,506 149,152 27,264 . 34,650 18,659,504 1,508 9 + + 1,413 — 419 4,741 139 + 26,977 +4 ,2.30,131 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 2,844,283 178 21,513 720,313 42,159 66,771 84.9% 101 10,806 + — + »1^ — + 113 - 2.4% 133 2,747 Form FR— 283—b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 20,, 1939 (In thousands of dollars) ASSETS Total Boston New York Phila. Gold certificates on hand and due from U. S. Treasury 14,621,718 Redemption fund - F.R.notes 8,288 Other cash 334,281 829,532 7,074,236 298 1,137 26,025 89,189 721,984 680 855,855 7,164,562 Total reserves 14.964.287 Bills discounted: Secured by U.S. Gov’t obligations, direct and guaranteed 969 Other bills discounted 4,619 — — Oleve. Rich. Atlanta Chicago St,Louis Minn, Kans.Cy, Dallas San Fran, 26,966 852,914 378,256 295,074 2,4-13,920 391,976 250,809 348,316 230,130 821 1,005 818 366 607 *417 621 454 42,466 15,026 8,926 19,707 14,635 23,076 21,850 18,048 834,571 1,064 28,367 749,630 876,811 401,111 313,729 2,457,204 407,419 260,101 368,644 245,219 864,002 445 1,472 321 363 386 55 2,677 426 51 358 65 63 166 20 267 433 24 1,042 187 76 400 43 126 207 19 751 476 69 446 169 2 3 — 82 342 36 309 55 750 82 2 819 342 16 203 345 16 545 805 39 1,048 — Total bills discounted 5,588 Bills bought in open market 545 Industrial advances 11,667 U. S. Government securities, direct and guaranteed: Bonds 1,308,616 Notes 1,245,497 Bills 272,370 41 1,736 1,917 211 2,039 95,510 90,904 19,879 396,866 377,724 82,602 111,709 106,319 23,251 131,255 70,125 54,012 124,925 66,742 51,406 27,319 14,596 11,242 140,376 133,604 29,217 57,575 35,977' 61,772 48,455 54,800 34,24C) 58,793 46,119 11,983 7,488 12,857 10,085 104,984 99,921 21,851 Total U.S.Gov’t securities. direct and guaranteed 2.,82.6,483 206,293 857,192 241,279 283,499 151,463 116,660 303,197 124,358 77,705 133,422 104,659 226,756 208,070 861,359 67 5,290 173,450 8,929 20,418 244,397 18 951 51,683 4,615 5,828 284,334 152,962 117,637 6 8 16 1,576 1,437 1,523 83,173 62,683 25,251 5,906 2,570 2,044 7,161 4,113 2,905 304,188 124,532 78,608 133,983 105,565 2 22 5 5 3 417 2,334 2,054 1,350 1,633 96,973 32,043 22,066 35,399 28,673 3,890 2,260 1,505 3,144 1,222 6,560 2,711 1,872 2,919 2,432 228,648 Total bills and securities 2,844f283 Due from foreign banks 178 F. R. notes of other banks 21,513 Uncollected items 720,313 Bank premises 42,159 Other assets 66,771 TOTAL ASSETS — 13 750 70,813 2,908 4,386 13 2,198 38,106 3,166 5,466 18 ,659,504 1,142,795 8',234,075 1,057,122 1 ,258,838 624,970 463,148 2,871,171 571,022 365,504 545,727 383,533 1,141,599 Form FR-283-c LIABILITIES Total F. R. notes in actual cir culation 4,677,608 Deposits: J.ienber bank—reserve account11,54-9,309 U.S*Treasurer-General account 618,613 Foreign bank 495,787 Other deposits 235,554 STATELIEST OF CONDITION OF TEE FEDERAL RESERVE BANKS ON SEPTEMBER. 20 , 1939 (In thousands of dollars) Boston New York Phila. Cleve. Rich. Atlanta Chicago St,Louis Minn. Kans.Cy0 Dallas San Fran. 397,436 1,181,234 327,270 433,466 208,812 155,220 1,029,850 182,714 135,642 175,754 81,309 368,901 562,607 6,284,869 46,197 124,024 35,630 176,795 6,911 191,614 549,667 44,702 48,128 4,799 611,929 273,225 201,427 1,575,269 277,500 141,797 267,145 203,525 600,349 42,328 35,775 34,201 39,355 45,897 44,280 46,143 21,335 17,366 14,361 1,735 6,479 54,668 46;0sl 4-3,124 43,825 44-,172 60,036 14,339 11,412 14,389 14,339 8,885 7,160 5,565 1,417 1,927 Total deposits 12 ,949,263 651,345 6,777,302 647,296 712,288 342,192 269,552 1,698,853 345,090 201,S98 326,776 264,013 712,653 Deferred availability itens 34,982 682,167 49,759 80,107 58,980 25,549 69,665 154,692 97,343 32,391 18,716 32,944 27,039 Other liabilities including accrued dividends 176 106 260 406 178 134 1,360 159 3,894 4l4 91 299 311 TOTAL LIABILITIES 18,312,932 1 ,118,860 8,114,588 1,024,731 1,226,172 610,075 450,480 2,826,350 560,455 356,390 535,650 372,467 1,116,714 q 1 O CAPITAL ACC0UN m 4,56l 13,800 3,995 2,917 4,299 4,048 105618 135,506 12,116 13,764 5,116 Capital paid in 9,399 50,873 22,666 4,983 13,696 5,630 3,892 10,083 149,152 4,685 9,965 3,613 52,463 Surplus (Section 7) 3,153 14,323 2,121 4,416 545 1,001 1,142 1,266 1,429 1,007 3,293 27,264 2,874 7,457 Surplus (Section 13b) 713 6,926 2,181 2,043 1,860 1,764 1,342 1,023 34,650 3,572 Other capital accounts 8,694 1,579 1,503 2,163 TOTAL LIABILITIES AND 13,659,504 1,142,795 8,234,075 1,057,122 1 ,258,838 624,970 463,148 2,871,171 571,022 365,504 545,727 383,533 1,141,599 CAPITAL ACCOUNTS Contingent liability on bills purchased for foreign correspondents 101 7 36 10 10 4 4 12 3 2 3 3 7 Commitments to make industrial advances 10,806 589 — 3,420 591 1,932 1,336 1,428 912 79 30 424 65 MATURITY DISTRIBUTION OF BILLS AND SECURITIES 1 Year 6l to Over 91 days to 6 months Within 16 to 2 Years to 31 to 6 months to 1 Year to 2 Years Total 15 days 5 Years 30 days 60 days 90 days 5 Years — — — l6l Bills discounted 5,588 456 2 1,287 3,509 173 — --— — — — Bills bought 267 545 255 23 --Industrial advances 1,448 220 433 1,601 2,340 11,667 2,511 551 2,513 U.S. Government securities,, 138,783 589,282 1 ,211,230 direct and guaranteed 2,826,483 48,913 36,637 82,115 347,365 161,705 210,453 Form FR— 283-d FEDERAL RESERVE NOTE STATELIE1IT ON SEPTEMBER 20, 1939 (In thousands of dollars) Total Boston New York Federal Reserve notes* Issued to F.R.bank by F.R.agent Held by Federal Reserve bank In actual circulation Phila. Cleve. Rich« Atlanta Chicago St»Louis Minn. Kans.Cy. Dallas San Fran. 4,994,686 421,654 1,273,192 343,750 458,212 221,683 166,633 1,057,956 194,095 139,895 183,876 90,2.15 443,525 317,078 24,218 91,958 16,480 24,746 12,871 11,413 28,106 11,381 4,253 8,122 8,906 74,624 4,677,608 397,436 1,181,234 327,270 433,466 208,812 155,220 1,029,850 182,714 135,642 175,754 81,309 368,901 Collateral held by agent as se curity for notes issued to bank* Gold certificates on hand and due fron U. S. Treasury Eligible paper Total collateral 5,104,000 430,000 1,303,000 350,000 460,000 22.5,000 169,000 1,080,000 199,000 141,500 188,000 94,500 464,000 1,172 — 490 65 — 291 — — 74 6 246 — 5,105,172 430,000 1,303,490 350,065 460,000 225,291 169,000 1 ,080,000 199,074 l4l,506 188,246 94,500 464,000
@FedFRASER