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• BOARD OF GOVERNORS OP THE FEDERAL RESERVE SYSTEM (Released for publication Friday morning, April 1J.J not e a r l i e r ) April 3, 19U7 H.lul CONDITION OF THE FEDERAL RESERVE BANKS * During the .week ended April 2 member bank reserve balances decreased $118,000,000, Reductions in member bank reserves arose from a decrease of $728,000,000 in Reserve Bank credit and increases of $77,000,000 in money in circulation and $38,000,000 in»nonmember deposits and other Federal Reserve accounts, offset iji part by decreases of $65^,000,000 in Treasury deposits with Federal Reserve Banks and $22,000,000 in treasury cash and an increase of $1|8,000,000 in gold stock. Excess reserves of member banks on April 2 were estimated to be approximately $570,000,000* Holdings.of loans, discounts, and advances increased $1^2,000,000 while holdings of United"States Government securities decreased $872,000,000* The decrease in holdings of United States Government securities reflects decreases of $1±02,000,000 in bills and $l|69,000,000 in certificates, Changes in member bank reserve balances and related items during the week and the year ended April 2, I9V7* were as follows 1 Increase or decrease .since April 2, March 26/ 19U7 April 3, -19U6 19^7 • (In millions of dollars) - U# S. Government securities Loans, discounts and advances Other Reserve Bank credit 21,938 130 390 Total Reserve Bank credit Goid ^tock Treasury currency 22,758 20,U86 li,557 «. Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F# R« Banks Nonmember deposits and other F«R#accounts 15.5UO 28,21|7 1,333 + • 9U6 1,735 4- ' 4* 44- 4- 872 11*2 * 1 - 728 kd 1 «. 4- J2 118 77 22 "6% 38 + ihh 335 4- + 4- ~ 44- 31 258 1.12 178 231 938 UX3 172 -H.lt. 1(a) STATEMENT OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In .thousands of dollars)' Increase or decrease since April 2, I9kl March 26, I9hl April 5, 19^6 18,U75,i*27 77M79 19,2k3,606 501,828 i£9,176 1,085 • 83,998 ' - 15,892 + 68,106 - 17,867. +1U2,560 + 53 +1,151,572 1,798 +1,1U9,57U 26,123 - 257,U37 h?9 1,989 lli,88U,U56 5,9Ue,lU8 551,800 753,390 -U02,259 -U69.200- +1,668,138 - 1^38,278 -1,111,500 - 11^9,552 21,958,06U -87l,U59 51,192 22,368,325 102 97,297 2,1*09,610 32,151 58,6)46 -728,8li6 A S S E T S Gold certificates Redemption fund for F« R. notes Total gold certificate reserves Other cash Discounts and advances Industrial loans Acceptances purchased U. S. Govt, securities;* Bills Certificates Notes Bonds Total U. S, Govornment . securities Total loans and securities Due from foreign banks „; F, R. notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS - Ui,ii97,565 - 13,1415 - 5li,U9U 51* - 5,283* -7149,850 291,097 8 36,507 + 1438,511; 1,008 _j,QU6 +1 ,228,ii9U 21+, 185,509 + 1*2,14 57 + 15,5liO,5l;8 9U6,355 520,589 572,539 •17,579,631 2,019,968 -H7,U2l -653,760 + 62,110 - 28,710 -737,781 - 55,560 + + 15,106 U5,798,01ii 101 L I A B I L I T I E S Federal Reserve notes Depositsj Member bank - reserve account U.Sf Treasurer-general account Foreign Other Total deposits Deferred availability items Other liabilities including accrued dividends TOTAL LIABILITIES " C A P I T A L ACfaOUNTB Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts • TOTAL LIABILITIES AHD]CAPITAL ACCOUNTS 190,9^5 1459,825 27,U55 111, 328 lil4,1497,565 -750,985 + 66 180,360 1UU.016 Ui3,3Ui 18U.7U7 + 26it,766 + 637,376 + 325,0U7 1,260 +1 ,lhh,dh3 +. 9,718 81,1468 27 6,762 +1 ,228,l49li + + + 1,069 ' - 7U9»850 Ratio of gold certificate reserves to deposit 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 on b i l l s purchased for foreign correspondents Commitments to make i n d u s t r i a l loans U6. l% 8,3lU 7,129 .9% 1439 1,081 •March 26 figures revised. *• 1.9% + 8,311i 5,658 + H*U.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON APRIL 2 , I947 ( I n thousands of d o l l a r s ) A S S E T S Total Gold c e r t i f i c a t e s 18,475,427 • 740,028 Redemption fund f o r " F. R. notes T o t a l gold Boston New York Phila. 5,960,995 805,518 1123,596 •' : •" 774,179 55,328 ..118,919 19,249,606 795,556 6,079,912 Cleve. 59,427 Rich. 977,381 ' 76,031 Atlanta Chicago S t . L o u i s 929,157 3422,126 .568,156. 392,311; ; 58,592 Minn.. Kans.Cy. D a l l a s SanFran. 634,751; 455,1892466,235 2i,495 55,6c8 24,608- 104,755 413,719 668,342 479.797 2,570,990 •*, 44,906 130,640 45,960- 974,063 3552,766 614,116 ; certificate reserves 864,945 1199,627 1035,973 other cash 301,828 26,509 63,54l 20,977 30,609 14,544 25,064 31,344 15,865 : 6,863 9,627 13,075 45,510 Discounts and advances I n d u s t r i a l loans U. 3 . Govt, s e c u r i t i e s ! 429,176 1,085 16,024 18 99,360 — 23,755 1,067 22,105 — 21,559 — 8,516 — 191,351 — 11,100 — -8,150 •'; — 9,710 4,258 12,788 B m s Certificates Notes Bonds 14,884,456 959,025 5 , 4 1 5 , 5 7 9 1128,425 i486,852 994,9^8 823,451 2000,254 749,849 434,885 745,100 5,948,418 351,800 755,390 409,275 24,205 51,336 1,522,982 90,072 192,892 366,472 21,674 46,415 505,608 18,074 58,706 507,159 18,166 36,903 170,104 10,060 21,545 276,011 265,647 16,324 15,711 54,953 35,645 424,58-9 25,111 55,776 534,491 31,611 67,695 794,667 46,998 100,648 595,065 1569,067 571,415 55>794 72,571 Total U.S. Government securities 21,938,664 1424,341 5,221,525 1631,899 2122,629 1429,489 1185,839 2942,567 1114,077 636,594 1072,393 910,066 2246,645 22,368,325 i44o,383 5,520,885 1656,721 2144,754. 1451,048 1194,555 5154,418 1125,177 644,744 1082,105. 914,524 2259,433 Total loans and securities' Due from f o r e i g n banks lo2 6 F R . n o t e s of other banks 97,297 3,151 uncollected items 2,4o9,6lo -206,909 Bank premises 32,15! i,283 other assets 58,646 2,5oi TOTAL ASSETS l/ 35 14,849 445,539 8,4o4 9,624 8 9 5 4,370 6,499 14,687 174,103 230,350 204,624 5,154* 3,&;22 - 2,665 2,290 5,903 2,235 14 4 13,719 lo,439 161,462 538,856 1,515 5,038 • 2,236' 5,199 4 5,905 109,565 1,999 2,340 4 3 9 2,891 5,022 58,135 122,737 1.232.2,503 1,061 1,756 5 3,851 87,557 787 1,534 11,914 219.473 1,769 . 3,917 44,497,565 '2476,098 11,943,087 2726,543 3619,555 2725,581 2372,418 7126,574 1372,971 1128,643 1892,094 1500,978 : 5H3,015 l/ After deducting $69,000 participations of other Federal Reserve Banks. H.t+.l(c) STATEMENT OF CONDITION "OF THE FEDERAL RESERVE BANKS-ON APRIL 2 , 191+7 (In thousands of d o l l a r s ) L I A B I L I T I E S Total Boston Federal Reserve notes 2l+,185,509 ll+!+8,50l+ Deposits: Member b a n k - r e s e r v e a c c t . 15,51+0,51+8 695,016 U*S.Treasurer-general a c c t . 91+6,555 65,875 Foreign 520,589 35,081 2,51+2 other 572,559 Total deposits 17,579,651 79l+,5ll+ Deferred a v a i l a b i l i t y items 2,019,968 187,725 Other l i a b i l i t i e s i n c l u d i n g accrued d i v i d e n d s . 15,106 739 TOTAL LIABILITIES 1+3,798,011+21+31,282 Capital paid i n 190,91+5 11,167 Surplus ( S e c t i o n 7) 1+39,825 27,557 Surplus ( S e c t i o n 13b) 27,1+55 5,012 Other c a p i t a l a c c o u n t s 1+1,328 5,080 TOTAL LIABILITIES AND " CAPITAL ACCOUNTS 1+1+ ,1+97,5^5 21+76,098 Contingent l i a b i l i t y on b i l l s purchased 8,3ll+ 552 for foreign correspondents Commitments t o make i n d u s t r i a l loans "" 7,129 F. R. notes outstanding 2l+,8l+3*563 ll+8l,055 C o l l a t e r a l f o r F . R. n o t e s held by F . R. A g e n t s ; Gold c e r t i f i c a t e s 11,213,000 1+55,000 E l i g i b l e paper 218,721+ 7,960 U. S. Govt, s e c u r i t i e s il+, 1+1+1,551+ 1100,000 Discounts and advances I n d u s t r i a l loans U. S. Govt, s e c u r i t i e s Total 1+29,176 1,085 21,938,061+ New York Phila* Cleve. Rich. A t l a n t a Chicago S t . L o u i s 5,556,378 1650,305 2076,063 1695,025 1339,921 1+1+88,175 1086,098 Minn. Kans.Cy. 591,91+3 910,217 D a l l a s SanFran. 577,71+8 2735,151+ l+,88l,055 275,855 1/171,1+57 1+95, li+8 5,819,1+91 366,1+02 1+00,175 55,71+6 12,817 2,210 1+70,91+8 1+6,113 752,255 197l+,825 58,168 1+7,557 1+5,156 16,918 56,108 2,856 819,521+ 2111+.255 78,788 200,255 785,050 1175,025 50,895 6l,8l+l 1+1,527 1+7,679 1^,090 10,201 879,51+2 l29l+,7l+6 139,275 183,017 729,969 65,597 25,121 5,1+51 825,958 168,81+1 752,1+59 201+5,810 1+9,511+ 125,1+55 21,020 69,725 5,072 3,86l 806,065 22l+i+,829 11+6,287 296,879 58l+,776 1+7,765 !7,9l+U 7,229 657,712 102,853 785,979 1+6,555 17,91+1+ 1,791 852,067 103,555 3,298 811 1,226 652 565 2,060 ; 528 1,252 505 1+19 1,095 11,725,569 2669,931 3555,052 2690,14.56 2^+2,836 7031,91+5 181+7,191 1110,236 1866,5!+!+ ll+76,l+79 5050,715 17,81+0 67,227 Il+,110 18,652 8,059 7,271+ 22/753 6,295 1+.187 6,330 7,053 58,106 136,51+9 3l+,720 1+1,591+ 20,676 18,665 65,078 16,577 10,997 15,729 15,777 2,11+0 7,255 l+,l+89 1,007 5,525 762 1,1+29 521 1,073 1,137 1,507 l+,2li+ 6,1+89 5,298 3,1+1+8 5,085 2,885 5,571 2,539 2,155": 2,551+ 2,562 : ' ~~~ 11,91+3,087 2726,5^8 3619,555 2725,581 2372,1+18 7126,571+ 1372,971 1128,61+8 1892,091+ 1500,978 5113,015 2_/2.,660 67I+ 775 1+07 5l+l 1,131 291 208 291 27I+ 732 . _ _ _1,589 15 5,61+C 71. 1,195 5,695,298 1703^085 2121^792 1758,1+96 11+27,572 1+565,078 1122^221 1+50 603,503"- 928,871 173 601,859 2856,753 3,1+70,000 525,000 61+5,000 625,000 590,000 2170,000 300,000 — 15,285 — 115,000 6,690 1+8,21+0 13,51+9 2,1+00,000 1200,000 1500,000 1160,000. 900,000 25op,ooo 956,35!+ MATURITY DISTRIBUTION OF LOAFS AND SECURITIES' i8l+,ooo 5,000 1+25,000 169,000 1800,000 1,700 500,000 1500,000 Within 15 days 1+06,166 1,015 3,015,066 280,000 5,300 700,000 6l to 91 days t o 16 to 31 to 6 months 1 to 2 to 1 year 30 days 60 days 90 days 6 months years years — 9,761 12,298 951 - 1+ 5 7 52 1+ 15 5 5,1+88,131+ 2,288,71+5 5,081+, 797 1,551,-159 ' 5-,!+6l,575 320,1+00 11+8,550 l / A f t e r d e d u c t i n g $51+3,625,000 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 $5,65!+,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. Over 5 years 580,01+0
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