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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, August 13,19^8) August 12, I9U8 H.U.I CONDITION OF THE FEDERAL RESERVE BANKS During the week ended August 11 member bank reserve balances increased $228,000,000, Additions to member bank reserves resulted from increases of $167,000,000 in Reserve Bank c r e d i t and $9,000,000 in gold stock and decreases of $96,000,000 i n Treasury deposits with Federal Reserve Banks and $6,000,000 in Treasury cash, offset in p a r t by increases of ip44,000,000 in money in c i r c u l a t i o n and ip6,000,0Q0 in ncnmember deposits and other Federal Reserve accounts. Excess reserves of member banks on August 11 were estimated to be approximately U , 050,000,000. Holdings of loans, discounts and advances increased $11,000,000 while holdings of United States Government s e c u r i t i e s increased $188,000,000. The increase in holdings of United States Government s e c u r i t i e s r e f l e c t s increases of $249,000,000 in bonds and $39,000,000 in c e r t i f i c a t e s and decreases of $63,000,000 in b i l l s and $37,000,000 in n o t e s . Changes in member bank reserve balances and r e l a t e d items during the week and the year ended August 1 1 , 1948, were as follows $ Increase or decrease since August 11, 19U8 August k, 19U8 August 13, 19^7 (In millions of dollars) U. S. Government securities Loans, discounts and advances Other Reserve Bank credit 21,566 294 204 + 188 + 11 - 32 + - Total Reserve Bank credit Gold stock Treasury currency 22,064 23^688 4,564 + 167 + 9 430 + 2,077 + 13 Member bank reserves balances Money in circulation Treasury cash Trsa&ury deposits with F.R, Banks Nonmember deposits and other F.R.accounts 17,834 27.,966 1,324 1,756 1,435 + 228 + 44 ~ 6 - 96 464 109 76 + 1,406 + - 257 5 703 187 H»U.l(a) STATELiliNT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( I n thousands 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 Aug, 1 1 , Aug, k, Aug, 1 3 , !9hB ASSETS Gold c e r t i f i c a t e s Redemption fund for F, R. n o t e s T o t a l gold c e r t i f i c a t e r e s e r v e a Other c a s h 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 : Bills Certificates Notes Bonds Total U,S, Government securities" Total loans and securities Due from foreign banks F.R, notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS 21,811,671 608,i462 262,073 + 20,000 -4*o43 + 15*95T - 9,985 + 10,236 _^9V7 +2,117', 492 * 64,154 • • 6,666 109,561 1,032 292,766 635 7,325,312 5,l6o,4o7 - 62,700 + 38,700 1,86^,100 7 , 2 1 5 , i-08 - ^7,200 +2)49,283 -6,809,772 -1,643,159 +1,1+95,800 +6,1+93,718 21,566,227 •188,025 1463,1+13 21,859*628 +198,296 - 354,884 + 153,966 + 83,227 59 + 6,388 + + * + + 53 7,351 91*228 616 98,218 1+7,326,199 +299*056 +1,706,692 + 39,74o • +228,275 T 95*274 -+ 2,5i+9 8,362 +138,811+ +114,592 +1,1+05,910 * 703*589 - 133,ij44 "643 H,975»2fe 15,726 * 1,519 +294,665 +1,661,007 + 37 49 125,609 2,472,249 32,492 5,111+ L I A B I L I T I E S F e d e r a l Reserve n o t e s 23,81+6,61+3 Deposits: Member bank - r e s e r v e account 17,83l+, 176 U . S . T r e a s u r e r - g e n e r a l account 1,756,258 Foreign 385,392 Other 1+79,3986. !»W"»M Total deposits 20/1+^5,812 Deferred a v a i l a b i l i t y items 2,268,118 Other l i a b i l i t i e s i n c l u d i n g accrued dividends 13,780 TOTAL LIABILITIES Zj6,58U,35T C A P I T A L ACCOUNTS Capital paid in 199,189 Surplus ( S e c t i o n 7) 1+48,189 Surplus ( S e c t i o n 13b) 27,543 Other c a p i t a l accounts 66,925 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,326,199" ^-atio of gold c e r t i f i c a t e r e s e r v e s to deposit and F.R, note 50,6^ liabilities combined Contingent liability on bills purchased 1,769 for foreign correspondents 6,252 Oommitments to make industrial loans * August 4 figure revised 72 898,125 354 + 4*319 +299*056 + 5*989 + 8,366 + 88 + 31*21+2 +1,706,692 *2% 2,8fo 3 364* 2,1+22 825 H.l+.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON AUGUST 1 1 , lgJ^S ( I n thousands of d o l l a r s ) ASSETS Gold c e r t i f i c a t e s Redemption fund for F. R. n o t e s Total Boston 21*511,671 8o6,ol+2 608,1+62 55,728 Total gold certificate reserves 22 ,1+20,155 Other cash 262,075 Discounts and advances 292,766 Industrial loans 655 U. S. Govt, securities: Bills ,325,312 Certificates ,160,1*07 Notes ,865,100 Bonds >215,l+08 859,770 26,081 18,295 New York Phila. Cleve. Rich. Atlanta Chicago S t . L o u i s 6,91+8,192 1025,655 ll+33»^96 1018,208 1051,022 i1.36I1.JU20 Minn. Kans.Cy. D a l l a s SanFran. 580,01+8 1+78,01+2 797,598 1+5,556 22,1+10 3l+,709 7,010,771+ 1082,821+ 1505,581 1072,852 1066,868 1+1+60,519 625,581+ 500,1+52 1+8,565 l!+,551 22,755 15,635 20,76k l+o,57i+ 12,500 9,028 6,298 97,51+8 26,929 51,165 li+,582 16,271+ 51,61+7 11,1+1+9 512 258 65 832,507 9,782 9,259 570,519 2852,285 9,561+ 52,61+8 8,512 21,023 581,1+12 22l+,221 51+1,1+J+O 281i,922 157,955 21+0,552 102,973 57,039 36,951+ 398.581+ 220,856 536,517 551,975 666,01+6 255,861+ 1+68,1+1+7 81;,525 169,508 526,995 6 ^ , 9 9 5 62,582 57,169 1+92,1+37 1,756^+76 525,21+6 31+6,902 1.237,375 568,608 125,580 1+1+7,217 155,221+ 1+85.01+9 JL#7?Q»l2g 515.597 71,885 702,279 l+9l+,728 178,807 691.71+1 5l+.6itl+ 1+75,757 535,137 121,127 1+63.598 55,81+6 95,899 567,258 1062,805 253,707 735.252 93,503 265,008 561.730 1025.225 5l+i+»285 2781+.1+63 26,25!+ 1+7,820 T o t a l U.S. Government securities "21,566,227 11+1+9,768 5,171,191 151+0,1+75 2067,555 11+00,599 1081,178 3086,263 1167,696 660,121 1005,223 977,359 1958,791+ 21,859,628 ll+68,o63 666,1+19 10lI+,l+62 985,371 1979,822 Total loans and securities Due from f o r e i g n banks ^0 F.R.notes of other banks 125,609 Uncollected items 2,1+72,21+9 Bank premises 52,1+92 other assets 155,966 TOTAL ASSETS 5,268,539 1567,716 2098,978 il+15,2l+6 1097,1+52 3117,915 H79,ll+5 3 1 / 1 6 7,7l+3 188,231 1,208 10,1+92 1+ 15,1+81 7*679 1+32,276 163,223 8,ll6 3,09!+ 56,61+7 10,626 1+ 2 2 7 2 5,51+8 ll,59l+ 12,520 239,21+5 219,1+31+ 160,552 l+,81+9 2,593 1,592 il+,866 10,003 7,732 15,572 385,1+58 3,027 21,519 6,986 117,655 1,971+ 8,882 1 2 2 1+ 11,253 7,150 67,022 11+8,771 1,190 2,1+09 l+,61+0 7,556 5,056 122,585 771 6,810 19,1+1+7 229,801 1,669 ll+,l+l5 1+7,526,199 2561,591 12,820,1+12 281+9,517 5891,806 271+7,1+07 2567,282 801+1,991 1952,726 1259,985 2022,219 1701,176 5110,087 l/ A f t e r d e d u c t i n g $55,QOO 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, H.li.l(c) L I ABI L I TIES STATEMENT OF CONDITION OF THE FEDERAL REoERVE BANKS ON AUGUST I I , I9U8 ( I n thousands of dollars) Total Boston New York P h i l a . Cleve, Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. 23,8146,614.3 ll|22,762 5,1468,279 I632,68l4 2107,876 1620,211 1317,269 14551,8148 1083,530 614,596 951,682 6C9,7l42 21+86,361+ Federal Reserve notes Deposits: ..ieraber bank-reserve acct»r7.«83l+,176 7l+8,8l+6 5,9C2,l4l42 858,577 1295,285 U.S.Treasurer-general acctl,756,258 139,314-7 279,389 ll+o,c63 159,587 Foreign 385*392 25,001 1/157,71+2 29,1+81+ 55,1+88 1+79,986 3,161+ ~ 1+16,889 2,562 6,212 Other Total deposits 20,1+55,812 9ll+,358 6,736,1462 1010,686 ll+9i+,370 Deferred a v a i l a b i l i t y items2,268,118 176,282 58l+,566 ll+5,717 219,880 Other l i a b i l i t i e s including 773 1,320 accrued dividends 15,780 799 3,30g 1J6..581+,353 2511+.201 12,592,609 2789,860 3823,1+1+6 Capital paid i n 199,189 11*323 69,017 Il+,619 19,011+ Surplus (Section 7) 1+1+8,189 28,117 158,596 55,350 1+2,173 Surplus (Section 13b) 27*543 3*011 7,319 i+,1+89 1,0C6 Other c a p i t a l accounts 66,925 l+>939 12,871 5,199 6,167 7l4l,770 73U.086 2755,858 120,050 lcl+,115 225,ll+o 17,856 ll+,92l+ ^4-9*501+ 2,161+ 1+11 2,789 881,820 855,536 3033,291 206,720 l6i+,112 55i+,159 609,772 li.37.787 105,295 116,7146 13,10l4 9,100 5,476 1.536 731,61+7 565,169 109,119 59,161 821,891+ 100,291 12,71+0 223 955,ll+8 126,980 83l+,599 101,529 12,576 1+03 91+8,907 115,171+ 2115,262 1&>»9C6 52,095 38,157 2350,1+18 206,21+8 577 1.1+22 525 1.370 511 703 579 1,899 2709,1+5!+ 2555.1+96 7941,197 192l+,675 121+0,51+8 199l+,321 l67l+,3l+8 5C1+1+.1+C0 7.729 18,639 8,523 7,789 2i+,7l3 6,561 l+,595 6,867 21,210 19,110 66,217 16,972 11,233 l6,ll+8 ll+,lll 38,952 1,1+29 521 1,075 1,157 3,51+9 762 1,307 2,ll+o l+*87l 1+,125 8,1+35 3*999 2,936 5*7a6 3*681 5*956 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1+7,326,199 2561,591 12,820,1+12 281+9,517 3891,806 271+7,1+07 2367,282 801+1,991 1952,726 1259,985 2022,219 1701,176 5110*067 Contingent l i a b i l i t y on b i l l s purchased 62 60 156 2/ 566 li+3 165 87 72 2l+l 61+ hh for foreign correspondents 1,769 HI Commitments t o make i n d u s t r i a l loans — 562 1,108 li+6 16 1+78 6,252 75 3*750 117 F. R. n o t e s o u t s t a n d i n g 2l+,56l,891 l!+80,777 5,61+1,625 1678,911+ 2l6i+,8i+9 1672,615 1565,398 1+626,009 1122,571 629,897 954*276 61+3,855 2581,107 C o l l a t e r a l f o r F . R. n o t e s h e l d by F . R. Agents* Gold c e r t i f i c a t e s 13,659,-000 1+60,000 i+,770,000 550,000 735,000 625,000 675,000 2760,000 315,000 200,000 280,000 169,000 2100,000 E l i g i b l e paper 19*081+ 8,080 — 2,880 — — 5*072 1+80 550 38^875 5*635 l,09l+ 11*925*000 1100,000 1,000^000 1200,000 1500,000 1075,000 750,000 1900,000 950,000 1+50,000 7 0 0 , 0 0 0 500,000 800,000 U.S.Govt, s e c u r i t i e s 1*ATURITY DISTRIBUTION OF LOANS AND SECURITIES 1 to 2 2 to 5 16 t o 31 "to 61 t o 91 days t o 6 months Over Within Total 15 days 30 days 60 days 90 days 6 months t o 1 year years years 5 years — — —. Discounts and advances 292^766 59r088 107,620 1+3*331 82,727 I n d u s t r i a l loans 12 78 26 56 2 6 635 l+'4l 11+ — 1, 1 6 2 , 1 5 6 U.S.Govt, s e c u r i t i e s 21 , 5 6 6 , 2 2 7 6,053,252 1,308,901+ i+,569,935 1,65B,345 1+98,800 l+,l+90,5l+0 i,ei+J+„295 l/ After deducting $2bfi,520*000 p a r t i c i p a t i o n s of other Fodoral Reserve Banks* *Z/ After deducting $1,203*000 p a r t i c i p a t i o n s of other Federal Reserve Banks#
@FedFRASER