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Form FR~283 STATEMENT FOR THE PRESS Released for publication Friday morning, September 29; not earlier. Board of Governors of the Federal Reserve System September 28, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended September 27 member bank reserve balances increased $72,000,000. Additions to member bank reserves arose from decreases of $67,000,000 in Treasury deposits with Federal Reserve banks, $12,000,000 in Treasury cash, and $10,000,000 in nonmember deposits and other Federal Reserve accounts* and an increase of $23 ,000,000 in gold stock, offset in part by a de crease of $37,000,000 in Reserve bank credit and an increase of $2,000,000 in money in circulation. Excess reserves of member banks on September 27 were estimated to be approximately $5>330,000,000, an increase of $50,000,000 for the week. The principal change in holdings of bills and securities was a net decrease of $22,000,000 in United States Government securities, direct and guaranteed; holdings of bonds increased $8,000,000, while holdings of bills decreased $30 , 000 , 000. Changes in member bank reserve balances and related items during the week and the year ended September 27, 1939, were as follows* Increase or decrease since Sept. 27, -1239 . Sept. 20, 1939 Sept, 28, 1938 (In millions of dollars) — — — Bills discounted 6 Bills bought 1 U. S. Government securities,direct and guaranteed 2,804 Industrial advances (not including 11 million commitments - September 27) 12 Other Reserve bank credit 24 - 22 - 14 + Total Reserve bank credit Gold stock Treasury currency 2,846 16,925 2,914 - 37 + 23 - 1 + 249 +3,211 + 176 Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R. banks llonnember deposits and other F. R. accounts 11,621 7,238 2,260 552 + + - +3,424 + 664 - 556 - 312 + 415 1,013 3 — + 240 __ 72 2 12 67 10 4 16 Form FR—283-a Released for publication Friday morning, Sept. 29,1939; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since Sept. 27, Sept. 20, Sept. 28, 1939 1939 1938 ASSETS Gold certificates on hand and + 34,999 +3,793,495 14 ,656,717 due from U. S. Treasury 2,267 944 7,344 Redemption fund - F. R. notes + 4,765 - .:4lii:-75 Other cash ..,331,046 Total reserves 15,003,107 Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed Other bills discounted Total bills discounted 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 + 38,820 +3,747,753 1,572 4.784 + + 603 . 165 6,356 548 11,644 + 768 + 3 23 +’ + 4,436 1,751 2,685 7 4,033 1,315,942 1,245,497 242.370 + 7,326 — - 30,000 + 526,615 + 79,432 — 3.66^252 2,803,809 - 22,674 + 239,794 2,822,357 176 20,799 42,140 67,889 - 21,926 2 714 - 73,675 19 + 1,118 + 233,083 4 5,695 + 86,059 2,208 + 20,2.82 18,603,106 - 56,398 +4,079,270 4,683,726 + 6,118 + 464,2.42 11,621,33S 551,890 467,580 _ 30^912 +3*423,350 - 312,591 + 284,355 + -150,227 12,944,721 622,759 + 72,029 - 66,723 - 2.8,207 ±M*2$2 - 4,542 - 59,408 4,970 18,256,176 + 1,076 - 56,756 + +4,081,346 135,511 149,152 27,264 35,003 18,603,106 + 5 — — + ...352 - 56,398 + + - + + 646,638 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 85.1^ 101 10,517 .2% — 289 +3,545,841 + 70,133 1,513 1,413 419 4,583 +4,079,270 - 2.5% 56 3,080 Form FR—283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE 3AUKS OH SEPTEMBER 27, 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 14,656,717 Redemption fund - F.R.notes 7,344 Other cash 339,046 837,744 7 ,063,860 257 944 27,929 88,924 724,122 Total reserves 15,003,107 Bills discounted* Secured by U.S. Gov't obligations, direct and guaranteed 1.572 Other bills discounted 4,784 Cleve. Rich. Atlanta Chicago St.Louis Miim. Kens.Cy* Dallas San Fran. 26,559 867,960 377,949 294,474 2,448,058 390,861 255,269 344,108 229,770 768 599 575 743 400 358 607 442 22,552 20,179 16,941 45,884 16,600 8,822 19,647 16,793 822,542 1,045 28,216 865,930 7,153,728 751,287 891,280 398,727 311,990 2,494,685 407,861 264,449 364,362 247,005 851,803 902 1,772 321 361 63 91 267 20 159 76 400 25 126 82 346 ■35 275 424 51 357 358 24 1,037 179 19 751 476 69 446 151 2 3 32 2 818 346 310 16 16 545 720 39 1,075 225 606 90 45 675 Total bills discounted 6,356 "Bills bought in open market 548 Industrial advances 11,644 U. S. Government securities} direct and guaranteed! Bonds 1,315,942 Notes 1,24-5,497 Bills 242,370 225 41 1,690 2,674 214 2,042 411 55 2,678 96,081 90,937 17,696 398,301 376,981 73,359 112,291 106,279 20,682 131,980 70,688 54,397 124,915 66,904 51,485 24,308 13,019 10,019 141,226 58,053 36,239 62,286 48,806 133,666 54,944 34,301 58,951 46,193 26,011 10,692 6,675 11,472 8,989 105,594 99,941 19,448 Total U.S.Gov't securities. direct and guaranteed 2,803,809 204,714 848,641 239,252 281,203 150,611 115,901 300,903 123,689 77,215 132,709 103,988 224,983 206,670 853,571 65 4,216 154,978 8,929 20,815 242,396 282,035 152,030 116,850 6 16 8 1,579 1,527 1,786 72,080 57,282 22,900 5,906 2,564 2,044 7,277 4,220 2,951 301,894 123,845 78,117 133,273 :*.04,859 22 2 5 5 3 883 1,520 2,225 2,569 487 91,474 29,429 18,451 38,361 24,543 3,890 2,258 1,505 3,144 1,222 6,650 2,732 1,887 2,983 2,472 226,817 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS 2,822,357 176 20,799 646,638 42,140 67,889 13 779 68,026 2,908 4,472 18 814 45,487 4,6o4 5,895 202 13 2,414 33,627 3,166 5,535 18,603,106 1,148,798 8,196,302 1,050,501 1,260,173 616,358 458,527 2,900,840 568,697 365,294 533,645 380,593 1,123,375 Forni FR—283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 27, 1939 (in thousands of dollars) Total Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy, Dallas San Fran. Boston New York L I A B I L I TIES F. R. notes in actual cir culation -4,683,726 Depositai Member bank—reserve account 11,621,338 U.S.Treasurer-General account 551,890 Foreign bank 467,580 Other deposits 303,913 Total deposits 12,944,721 Deferred availability items 622,759 Other liabilities including accrued dividends 4-,970 TOTAL LIABILITIES CAPITAL 398,878 1,181,959 329,332 435,250 207,386 155,720 1,031,010 183,113 135,908 175,504 81,783 367,883 573,626 6,275,556 45,977 99,853 33,411 168,407 6,041 207,447 560,539 25,542 45,138 12,642 626,332 270,322 207,508 1,616,769 279,803 145,472 263,983 202,547 36,494 46,754- 38,031 51,511 44,828 42,440 40,299 46,676 43,277 20,010 16,287 56,307 13,495 10,703 13,495 13,495 14,135 1,724 6,749 7,248 6,696 5 ,567 377 2,174 598,881 33,485 33,555 33,113 659,055 6,751,263 66,490 141,159 643,861 720,238 338,810 268,575 1,731,835 344,822 204,182 318,154 264,892 71,633 55,138 21,370 92,801 29,906 15,935 29,701 22,722 699,034 31,391 2,371 379 419 44,513 323 100 165 315 268 137 181 112 200 18,256,176 1,124,84-2 8,076,752 1,018,085 1,227,444 601,434 445,830 2,855,961 558,109 356,162 523,540 369,509 1,098,508 ACC 0 1 1 1 S Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts 135,511 149,152 27,264 35,003 9,399 10 ,033 2,,874 1 ,600 50,874 52,463 7,457 8,756 12,116 13,696 4,416 2,188 13,768 14,323 1,007 3,631 5,117 4,983 3,293 1,531 4,561 5,630 713 1,793 13,799 22,666 1,429 6,985 3,995 4,685 545 1,363 2,917 3,153 1,001 2,061 4,299 3,613 1,142 1,054 4,048 3,892 1,266 1,878 10,618 9,965 2,121 2,163 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 18,,603,106 1,148,798 8,196,302 1,050,501 1,260,173 616,358 458,527 2,9oO,840 568,697 365,294 533,648 380,593 1,123,375 Contingent liability on bills purchased for foreign correspondents 2 12 7 101 10 4 7 10 4 36 3 3 3 Commitments to make industrial — 66 583 advances 481 1,428 904 79 3,255 10,517 30 1,932 1,336 423 MATURITY DISTRIBUTION OF BILDB AND SECURITIES 3. Year 2 Years to Over Within 16 to 91 days to 6 months 31 to 61 to 6 months to 1 Year to 2 Years 5 Years 5 Years Total 15 daye[ 30 days 60 days 90 days — — — Bills discounted 21 168 6,356 2,164 500 3,372 131 — — — — — Bills bought 548 140 124 149 135 — 1,638 1,366 481 2,510 Industrial advances 560 2,339 2,511 11,644 239 U. S. Government securities, 138,783 589,282 1,218,556 direct and guaranteed 97.,615 182 ,453 161,705 347,365 2,803,809 38,913 29,,137 Fora FR—283-d FEDERAL RESERVE NOTE STATEMENT ON SEPTEMBER 27, 1939 (in thousands of dollars) Total Boston New York Phila. Federal Reserve notes: Issued to F.R.bank by F.R.agent Held by Federal Reserve bank In actual circulation Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 4,991,190 428,753 1,271,572 347,529 456,703 221,115 168,054 1,059,401 195,556 139,572 185,506 90,747 426,682 307,464 29,875 89,613 18,197 21,453 13,729 12,334 28,391 12,443 3,664 10,002 8,964 58,799 4,683,726 398,878 1,181,959 329,332 435,250 207,386 155,720 1,031,010 183,113 135,908 175,504 81,783 367,883 Collateral held by agent as se curity for notes issued to bank: Gold certificates on hand and due from U. S. Treasury Eligible paper Total collateral 5,101,000 440,000 1,290,000 350,000 460,000 225,000 169,000 1,080,000 199,000 141,500 188,000 94,500 464,000 2,022 2.2.5 1,247 90 — 216 — — 55 6 I83 -— 5 ,103,022 440,225 1,291,247 350,090 460,000 225,216 169,000 1 ,080,000 199,055 l4l,506 188,183 94,500 ¿64,000
@FedFRASER