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BO:,RD- OF GOVERNORS, OS? THE FEDERAL RESERVE SYSTEM
(Released for P u b l i c a t i o n F r i d a y : morning,. A p r i l 2,19I48)
H.ii.1
A p r i l 1, I9li8
CONDITION OF TIE FEDERAL RESERVE BAIJKS
During the week ended Larch 7jl member bank r e s e r v e b a l a n c e s decreased
$231,000,000. Reductions in member bank r e s e r v e s arose from an i n c r e a s e of.
$5lii,000,000 in T r e a s u r y d e p o s i t s with** F e d e r a l Reserve Bank's, o f f s e t i n p a r t "by
i n c r e a s e s of $178^000,000.in Reserve-Bknk c r e d i t , and $2,000,000 i n Treasury
c u r r e n c y and d e c r e a s e s of $ 7 1 , 000>OQC> i n money i n c i r c u l a t i o n , $11,000,000 i n
T r e a s u r y cash and, $20,000,OOO i n nonme^iber d e p o s i t s and other F e d e r a l Reserve
a c c o u n t s . Excess r e s e r v e s of member banks' on March 31 were e s t i m a t e d t o be
a p p r o x i m a t e l y $600,000,000*
Holdings o£ l o a n s , d i s c o u n t s and advances decreased $16,000,000 while
holdings of United S t a t e s Government s e c u r i t i e s i n c r e a s e d $280,000,000, The i n c r e a s e i n h o l d i n g s of United S t a t e s Government s e c u r i t i e s r e f l e c t s i n c r e a s e s , o f
$108,000,000 i n c e r t i f i c a t e s , $97,000,000 i n n o t e s , $56,000,000" i n b i l j s ,and
:
:$19,000,000 i n bonds #
-,-—:
- '-< Changes in-member bank r e s e r v e b a l a n c e s and r e l a t e d items d u r i n g the
week and t h e year ended March 31> lc)hQl were as follows?
I n c r e a s e or decrease
since
March Jl,
19U8
March 2l\.s
. I9U8
A p r i l 2,,
19U7
( I n m i l l i o n s of d o l l a r s )
U« S# Government s e c u r i t i e s :
Loans § d i s c o u n t s and advances'
Other Reserve Bank c r e d i t
20,887
287'
+
-
280
16
85
T o t a l Reserve Bank c r e d i t
Gold stock
t r e a s u r y currency
21,607
23,156
it, 559^
+
+
+
178
l
2
- 1,151
;+ 2,650
.!+
2
flember bank r e s e r v e balance's
Money i n c i r c u l a t i o n
Treasury cash
T r e a s u r y d e p o s i t s w i t h F, R# Banks
-3$fcrimember d e p o s i t s and other F . R . a c c o u n t s
16,639
27,780
1,325
1,972
1,587
>
+
-
231
• 71
11
51U
20
+ 1*099
167
8
+ 1,026
H48
h%.
-
1,051
k
103
H t iul(a)
STAXiuv','*-; Or .'J0?IDJTI0N
'OF TIE TWELVE i ' ^ . r A ; , Kd^LKYB BANKS COMBINED
(It) t>;rou*amls of d o l l a r s )
I n c r e a s e or d e c r e a s e
since
March' 5 1 ,
19U8
A S S B T S
Gold c e r t i f i c a t e s
Redemption fund f o r F, fU n o t e s
T o t a l gold c e r t i f i c a t e ; reserve?,.
Other cash
Discounts and advances
Indus t r i a l 1oans
U.S.Govt, s e c u r i t i e s :
Bills
Certificates
Notes
Bonds
T o t a l U# S. Government
"~ ~ s e c u r i t i e s
Total loans and securities
Due from foreign banks F. R. notes of' other banks
Uncollected items •
Bank premises
Other', assets
TOTAL ASSETS
21,229,170
6)48,8ul
21,878,011 )
559,555
429,958
•'5,785
April 2,
19U7
March 24,
1948.
- 5,000
+ 15,001
+ 10,001
+ 6,509
- 17,189
+
658 ;, .
+2,753,743
I- 125,358
+2,628,2*05
+
57,727
.+
782
i+
2,700
8,851,101
4 , 1*81,175
1,883 J* 60
5,671,577
+ 56,200
+108,000
+ 97,200
+ 18,519
1-6,033,355
:-1,2*67,243
.+1,551,600
; +I 4 ,917,987
20,887,055
+279,919
•1,051,011
2.1,520,796
95
' • 120,539
2,739,595
52,744 ,
157,566 ;
+263*368
+ 4,219
-126,607
86
* 5,928
-1,047,529
- '
7
+. 23,042
+ 329,985
+
595
+ • 96,722
ho, 588,503
+161,332
+2,090,958
1
L I A B I L I T I E S
Federal Reserve notes
Deposits:
member bank-reserve account
U.3.Treasurer - general account
Foreign
Other
Total deposits
Deferred availability items
Other liabilities.including accrued
dividends
TOTAL LIABILITIES
CA PIT AL^iC,COUNTS .
C a p i t a l paid i n
Surplus ( S e c t i o n 7)
Surplus ( S e c t i o n Ipb)
Other c a p i t a l accounts *'
TOTAL LIABILITIES AND CAPITAL ACCOUNTS
R a t i o of g o l d ' c e r t i f i c a t e r e s e r v e s
t o d e p o s i t and F.R. note
l i a b i l i t i e s ' combined
Contingent l i a b i l i t y oh b i l l s purchased
for foreign*correspondents
Commitments t o make i n d u s t r i a l loans
25,767,642
-63,584
16,638,719
; 1,-971,606
•0*85,528
19,609,626
.2, k 53,060
-231,171
+513,536
-'- 2 5 , 1 4 3
+ 6,309
+263,551
.- 41,666
+1,098,,, 371
+1,025,251
34,861
58,766
+2,029,995
+ .. 435,092
15,927
45,82*6,255
•- ' '286
•+157,995
+
2,821
, +2,02*8,241
c
ii5,773
197.767
hU8,189
: 27,52*3
68,749
E6T588,5P3
+
20
+ 5,317
+161 ,"332
50 M
4,134
7,700
-
417,667
+
6,822
+
8,566
+
88
+. 27,421
' ; +2,090,958
4,5/o
-,,.•106
4,180
187
571
H.li.l(»
STATEMENT OF. CONDITION tOF THE FEDERAL RESERVE BANKS/; ON MARCH 31:, "191*8
(In thousands of dollars:).
A S S E T S
Gold c e r t i f i c a t e s
Redemption fund for
F . R+ n o t e s
Certificates
Notes
Bonds
Boston
21,229,170
765,555
61*8,81*1, 55,586
T o t a l gold c e r t i f i c a t e
reserves7
Other cash.
Discounts- arid 'advances
I n d u s t r i a l : l;e&ns
U. S* G o v t ^ S e c u r i t i e s •
Bills J
Total
i
—1 . . .
1 ii
Phila,
"Cleve#
Ri-dh. Atlanta
Chicago St.Loup.s
6,861,211* 1059,976 "1389,965 I036,aii*: : ill5,683 3922,571
71,135
2 1 , 8 7 8 , d l l ' 821,11*1
359,555^ 39,H±o
1*29,958 28,lij2
5,785
- 8,851,101
1*,1*81,175
1,883,1*00
; 5,671,-377
New York
58,7ii3
ll^hl
57^10"
38,969
115,1+QQ
... .
. .
579^60 3 3 8 , 3 6 9
46,211*
22,677
«.«i ,, ',i . 1
111 ., , . ! 1 i
, ,
1 ....,,—^.ni — I
-i-.n.m*—. - -.1
••» TII i>.r---ir-, .
.1
1 ' _• • 'r
'• '
' '-
,"
'"I
•' '•'
" 'i' . "
•'•
'. ,_
'
'
,20,887,053 lliOli,llo
5,008,3i;0 11*91,962 2002,1*1*2 1356,u90^101*7,131 2967,799 1153,237"'" 639,351
Total loans and
securities
21,320,796 lli32,252
5,092,321; 1509,582 2028,717,1389,9<2 1057,itf2 3155,796 II6U269
TOTAL ASSETS
•95
6
120,339
ii,837
2,739,595 2ol*,6oi
32,71*1*
1,227
137,368
9,H3
517,u77 2771,1*61
35,223
25,763
:
h9,klh
51+3,21*0 2820,935
ili,52l
1*1*,713
5,2] 0
Hi, 250
1*88,696 270,923 1*12,§59 z/01,123 803,1*76
2U7,Ul9 137,1& 208,873 203,082 Uo6,788
103,988
57,61*9 87,737
85,35u 170,969
313,131; 173,<:595 26i*,5l*8 257,021 51^,831
Total U;'S«I Government'
securities ~
Due from foreign banks
F # R. notes of other banks
Uncollected items
Bank premises
Other assets
770,865
Dallas SanFran#
6,932,509 1118,719 Iii6ii,2l2 109!*, 221* 115^,652 1*035,971 625,27!; 1*61,01*6"' 806,088
66,278
22,658
37,089
21,1*92 21,279
55,733
15,061
9,1*1*6
12,095
83,98U
17,061;
26,061
33,W*2
7,316 187,997
U.032
3,713
11,7^7
- 556
211;
30
2,985
595,005 2,122,335 632,231; 818,555 57U,627 1*1*3,733 1257,635
301,21*2 l,07l*,506 320,091 1*29,610 291,025 221*,655 636,720
126,610
151,605 !L3U,531 180,562 122,316
9U,u2o 2.67,609
381,253 1,359,89^ i o 5 , l o 6 5u3,7l5 .'368,322. 28i*,323 BQ5,i335
1
Minn* Kans # Cy #
1/31
8
9
5
1*
13
3
lj,630
6,1*88"
7/693
16,190
H*,912
16,1*22
6,1*39
51*0,711 179,1*01* 272,969 233,185 189,588 cl*l*6,592 123,81*0*
8,181*
3,ili5
i;,899'
2,617
1,51*9
3,ol*2 - - 1 , 9 6 1
32,1*95
9,3lli
13,160
9*166
6,908
19,59 2
7,861
' '
1 •
1 1
1 .i ,
I,.,.,.
1
,
973,567" 9^6,580 1896,06!;
61*3,01*1* 985,311* 951,790 1910,3U*
2
6,877
66,569
1,201
l*,2ll*
3
3
8
5,302
5,238
16,305
12Z*,016 108,1*55 2i;9,665
2,1*1+0
785
1,69!*
6,1*19
6,159
12,967
1*6,§38,5Q5 2512,317.12,686,162 281^,318 3828,?!*&•12766,8l*7 2iM,:32i* 7733,211 i9au,70& M.92,399 191*1,67*7 1630,191 5056,601
i / i i f t e r d e d u c t i n g g61*,Q00 p a r t i c i p a t i o n s pf other Federal Reserve Banks:*
1.1*.1(c)
.
, I A B I L I T I *B S
"Total
f e d e r a l Reserve n o t e s
23,767,61*2
Jeoositsj
.
member b a n k - r e s e r v e a c c t .
16,638*719
U . S . T r e a s u r e r - g e n e r a l a c c t . .1,971,606^
Foreign
'
1*85,528
other ,.
513,775
Total deposits
19,609,626
j e f e r r e d a v a i l a b i l i t y items
2,1*55,060
Jther l i a b i l i t i e s including
accrued d i v i d e n d s
15,927
TOTAL LIABILITIES
Capital paid in
i u r p l u s - ( S e c t i o n 7)
iurpius (Section 13b) :;
other c a p i t a l a c c o u n t s
Boston
11*18,959
700,560
120,732
27,1*25
2,013
850,728
I9l*,211
1,01k
STAT&lfttiNT 0*' G0i\iDlXlUil UP\..:xite. X'&Q&iUil, RESERVE .&&&*& Ok JsiiiriGn }l, lyuti. .•
( I n thousands of d o l l a r s )
Hew York
Phila.
Cleve,,
Rich. A t l a n t a Chicago S t . L o u i s
Minn. Kans.Cy.
5,462,1*06 1625,557 2o68,l*94 1636,600 1327,982 ^51^,776 1090,859 612,511 922,250
••;
5#3li3,7l6 7 9 9 . 8 8 2 1 2 7 8 , 0 7 0 726,321 73 ; 5,961 21*18,390 589,105" 1*13,1*92 777*1*15
527,482 171,598 l%^r
126,11*1 11*2,1*95 267,726 98,139
76,288
89,702
1/190.128
35.170
59- 9^
21.-276
17,802
59,051
15,651
10,855
15,197
1*51,1*77
1.921*
7JA~
5,500
714;
l,?a7
5,285
1,717
521
6,512,803 1008,5/1* li*59.i* ^
3/9-238 897,002 271*6,911; 7Q8.160 502,552 882,835
1*78,954 ' 15u,558 230,50c 212,232 188,811; 563,595 116,860
57,312 106,180
5,945
1,002
1,768
829
695
2,620
7uU,
513
647
D a l l a s SanF'ran.
590,661* 21*96,601;
790,261*2065,531;
105,120 111,886
lU,763
38,286
581
35.110
910,728 2250,816
101,172 21*1,861*
796
1,558
1+5,81*6,255 21,61;,912 12,1*58,106 2 7 3 9 , 6 9 ! 5760,21,6 2723,399 21*11,1*91 7632,705 1916,523 1172,688 1913,892 1603.360 4990,61;2
197,767
11,305
69,0721U,535
is,91:6
8,1*20
7,715
24,072
6,1*88-. *4,558
6,720
7,602
18,552
1*48,189
26,117
158,59*6
35,350
1*2,173
21,210
19,110
66,217
16,972
11,233
16,11*8
11.,Ill
33,952
27,51*3
3,011
7,319
4,1*89
1,006
5,31*9
762
1,1*29
521
-1,073
1,137
1.507
2,11*0
68,71*9.
4.972
I5.0o9
5,255
6,575
4,969
4.21*6
8,788
U,10U -5,01*7
5,780
3,611
6,555
TOTAL LIABILITIES AKD:-:
CAPITAL ACCOUNTS'
' 1*6,588,505 2512,517 12,686,162 281*9,518 3825,71*8 2766,81*7 21016,324 7733,211 1944,708 1192,599 191*1,677 1630,191 5056,601
Contingent l i a b i l i t y o n \ b i l l s purchased
for foreign correspondents
4,134
260
2/L.323
555
580
2Q2
170
562
1L,9
105
ll*5
ll*l
361;
Coirmitments'to make i n d u s t r i a l
loans
7,700
75
- 1,150
1,525
.. 127
16
344
580
- 5.750
- 155
F . K. notes outstanding;
2i*,6?l,979.11*84,548 5,698,464 1678,997 2158,655 1692,817 1375.411 1*606,219 1133,253 634,1*54 91*5,993 619,646 261*5,51*2
C o l l a t e r a l for F.R. n o t e s
h e l d by F . R . A g e n t s :
Gold c e r t i f i c a t e s
15,009,000 1*60,00.0
1*,1*70,000 5^0,000 755,000 625,000 675,000 21*50,000 315,000 200,000 280,000 169,000 2 , 1 0 0 , 0 0 0
E l i g i b l e paper
99.556 19,038'
34,744
5,559
- 26,261
- - 5,830
100
6,690
- 1,531*
u . S . Govt, s e c u r i t i e s
12,950,000:1100,000
1,500,000 1200,000 1500.,000 1100,000 750,000 2200,000 950,000 2*50,000 700,000 500,000 1,000,000
MATURTfTY PTS1PirT!i7.GH OF LOAMS AND SECURITIES
Within
' 16 t o
31 "to
6J to
91 da.ys t o
6 months
1 to 2
2 to 5
Over
3P days
60 days
90 ("^ys
6 mouths
t o 1 year
years
years
5 years
T o t a l _ 15 days
Discounts and advances
1*29,953
505,598
52,816
23,771"
"I5.~l.98~
2,561;
11
i n d u s t r i a l loans
3,785
. 3,563'
2j'
- '21
112
3l* «
13
19
U.S.Govt, s e c u r i t i e s
2 0 , 8 8 7 , 0 5 3 2,1*15,688
1,215,550
2,625,051*
5,097,452
5,61*0,129
2,31*3,017
- 1*70,378
5,081,985
1'/ A f t e r d e d u c t i n g $295,256,000 p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks.
2~/ A f t e r d e d u c t i n g
$2,811,000 p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks.
@FedFRASER