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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, August 6,19ii8) H.lul August 5, 19^8 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended August i*, member bank reserve balances increased $72,000,000, Additions to member bank.' reserves resulted from increases of $17^,000,000 in Reserve Bank credit and 19,000,000 in gold stock and a decrease of ^22,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by increases of $101,000,000 in money in circulation and $30,000,000 in Treasury deposits with Federal Reserve Banks. Excess reserves of member banks on August 1* were estimated to be approximately $780,000,000. Holdings of loans, discounts and advances decreased $1*5*000,000 while holdings of United States Government securities increased $169*000,000. The increase in holdings of United States Government securities reflects increases of $1*02,000,000 in bonds and $161|, 000,000 in certificates and decreases of $31*7,000,000 in bills and $51,000,000 in notes. Changes in member bank reserve balances and related items during the week and the year ended August ii, I9ii8, were as follows: Increase or decrease -since Augf h, 19U8 July 28, 19^8 Aug. 6, 191*7 (In millions of dollars) - 1+91 4. + 169 U5 50 158 18 21,897 23,679 U.56U + + + 171* 9 1 mm 17,606 27,922 1,330 1,852 1,1*29 + + + + - 72 101 1 30 22 +1 ,197 - 28k — U. S# Government securities Loans, discounts and advances Other Reserve Bank credit 21,378 283 236 - Total Reserve Bank credit Gold stock Treasury currency Member bank reserve balances liiOney in circulation Treasury cash Treasury deposits with F# Rt Banks Nonmember deposits and other F^R.accounts + + 31U +2 ,077 + 12 +1.121* - 263 STATEMENT OF CONDITION OF THE TT;EL7E FEDERAL ioSSfiUVE BANKS COMBINED ( I n thousands of d o l l a r s ) H«U.l(a) Increase or decrease since Aug. 1*, 1948 Aug, 6, 19u7 July 28, 19^8 . . I I . . . I..I tl. ,1 K. , - , ! , » ASSETS Gold c e r t i f i c a t e s Redemption fund for F. R, notes Total gold c e r t i f i c a t e resei-yes Other cash Discounts and advances Industrial loans U. Sm Govt, securities: 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 21,791,671 612,505 22,'i*ol*\l76 272,058 282,530 598 + 7,001 + 372 + 7,373 - 7,1*77 +2,105,1*92 60,108 +2,01*5,381* + U.850 + 159.483 1,081* 7,33^,012 5,121,707 1,902,300 6,966,185 - 1*1*, 201 191 -31*6,669 +161*, 300 - 51,000 +1*02,261* -6,702,671* -l,561i,259 +1,533,000 +6,21*3,1*95 21,378,201* +168,895 - 1*90,1*38 +121*, 503 - 332,039 21,661,332 53 - 11,980 + 1,1*70 -21,505 + 2li*,l*32 50 557 + 7,821 + 93,776 2*9 120,1*95 2,389,022 32,433 147,573 1*7,027,1U3 + 98,685 + 23,806,903 + 31,555 - 17,605,901 1,851,532 337,941 72,306 29,71*8 10,770 26^056 86,768 71,038 +1,196,990 +1,123,683 - 161,909 20,316,998 2,153,526 + + + + - 12,261 1*6,289.688 - 2,357 + 9U,928 1*1*7 +1.985.3U5 I99.II7 1*1*8,189 27,51*3 62,606 hi, 027,11*3 + + 6, oil* + 8,366 + 88 + 28,561* +2,028,377 2, 028,377 L IA B I L I TIES Federal Reserve notes Deposits: Lember bank - reserve account U . S . T r e a s u r e r - g e n e r a l account Foreign Other Total deposits Deferred a v a i l a b i l i t y i t e m s Other l i a b i l i t i e s i n c l u d i n g accrued dividends TOTAL LIABILITIES C A P I T A L Jl^C C O P H I S 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 13b) Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS R a t i o of gold 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 on b i l l s purchased for foreign correspondents Commitments t o make i n d u s t r i a l loans hllj&k 50.8?o I/O 1,772 6,738 72 + 3,685 + 98,685 - + + .2°/o 196 361* ~ 320,178 k9,2su +2,109,1*80" + 196,1*90 2.7fo 2,562 122 H.l*.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAMS Oil AUGUST 1*, 191*8 ( I n thousands of d o l l a r s ) ASSETS Total Gold c e r t i f i c a t e s Redemption fund for Boston 21,791,671 809,1*05 612.505 55,931 F. R. notes New York Fhila. Cleve, Rich. Atlanta Chicago S t . L o u i s Llinn. Kans.Cy. 6,96l.9l;2 1008,71*1 11*29,870 1015.605 1028,651; 1*396»4H* 6o5,li2o Ii75.9li8 65,1*07 57.511; 72,180 56.169 , 36,01*6 96.132 U5.608 811,950 22,U37 51*.761* 863,531* 7,025,51*9 1066,255 1502,050 107L772 1064.700 141*92,596 62*9,02* 1=96,585 25,923 50,51*5 16,555 26,067 15,829 20,530 1*1,787 12,806 7,650 3l*6,69l* 9,71*6 D a l l a s SanFran. 51*5,200 2708,51*6 26,28u 1*7,903 T o t a l gold c e r t i f i c a t e ^serves other cash 22,i;ol*,l76 272,058 d i s c o u n t s and advances i n d u s t r i a l loans T J. S. Govt, s e c u r i t i e s ! 282,550 CJQ B i l l s 7,583.012 5,121,707 WoteG 1,902,500 B ndS ° 6,966,185 T o t a l U. S. Government Certificates securities 18,570 ._ 79,31*6 _„ 1*96,653 51*1*. 502 127,880 1*68,295 1,771,510 1,228,095 1*56,137 1,670,366 20,266 275 32.777 258 15,5-32 65 18, ll*7 52,167 IO.699 527,721* 708,291 1*79,809 370,332 1068.570 565,81*3 1*91,018 352,621; 256,766 727,753 155,881 182,571; 125,51*3 95,368 270,29!* 1*97,595 667.81*3 1*52J*12 3^9,236 939,811 389.091* 282,781; 105,052 56ii,62j. 6.31*8 569,1*31*2756,529 10,875 55,911* 17,058 8,1*12 25,178 226,139 3i*!*,562 156,770 238,728 58,228 83,668 215,228 521*,?Q1 55u,817 252,112 86,210 515,700 670,661 1*61;,93l* 172,685 632.569 21,578,201* 11*37,130 5,126,106 1527,ol*3 2ol*9,551 1588,588 1071,752 5056,1*08 1161,531* 651*.565 996,1*59 968,339 191*0,61*9 21,661,332 11*55,700 977,251 1965,827 T o t a l loans and seSSHTies Due f r om f o r e i g n banks ^9 F . R . n o t e s of o t h e r banks 120,1*95 u n c o l l e c t e d items 2,389,022 Bank premises 52,1*55 uther a s s e t s TO?AL ASSETS ll*7,578 5,205,1*52 151*7,531* 2082,566 ll*ol*,035 1089,899 3083,575 1172,235 5 7.852 183,083 1,203 l / 16 lS,707 1*32,697 3,115 10,023 3l*.6o2 1* 1* 2 5.1;35 12,266 7.97U 170,1*60 227,111 202,530 5,09l* l*,8l*9 2,595 10,186 ll*,59Q 9,1*91; 660,715 1015.1*97 2 8,726 155,310 1,555 7 16,1*33 585,170 5,027 2 5,353 100,602 1,973 1 10,307 66,008 1,190 2 7,207 138,180 2,1;09 7,1*97 2o,765 8,1*82 k.566 6,955 2 1*,1*91 106,l;l9 771 k 17,239 223,1;52 1,669 6,753 13,689 1*7,027,ii;3 251*7,131 12,773,1*85 2822,110 5862,672 2718,521 25l;8,ol*9 801*6,363 1950,979 121*6,800 2o2l;,688 1676,021; 5010,525 l / A f t e r d e d u c t i n g $55,000 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. H.U.l(c) LIABILITIES STATEMENT OF CONDITION OF TIE FEDERAL RESERVE BANKS ON AUGUST 1*, I948 ( I n thousands of d o l l a r s ) New York P h i l a . C leve. Rich. A t l a n t a Chicago S t . L o u i s Total Boston Minn. Kans.Cy. 615.565 928,572 5,472,1*98 1629,506 2 o ? 6 , 3 5 6 1616,267 1516,666 1*51*5,915 1082,275 2 5 , 8 0 6 , 9 0 5 11*25,455 D a l l a s SanFran. 605,662 2474,570 F e d e r a l Reserve n o t e s Deposits: Lember b a n k - r e s e r v e a c c t . 1 7 , 6 0 5 , 9 0 1 U.S.Treasurer-^general a c c t J . , 8 5 1 , 5 5 2 Foreign 587,941 Other 1171,6214 Total deposits 20,516,998 Deferred a v a i l a b i l i t y items2,155,526 Other l i a b i l i t i e s i n c l u d i n g 12,261 accrued d i v i d e n d s 754,552 146,425 25,254 1,505 905.514 168.515 5,807,439 551,456 1/157,790 410,390 806,022 1288,020 11*7,325 155,125 29,764 55,828 2,196 6,598 751,1*05 125,975 18.017 1,844 756,755 2751,465 93,837 258,669 15,076 50,007 530 2,275 598,452 117,139 13,257 4,961 429,244 113.102 9,193 4,365 805,874 122,582 12,869 658 855,258 2082,657 9 6 , 5 6 1 125,544 12,502 52,404 426 56,098 6,707,075 564,182 985,525 1481,569 147,455 2 1 5 , 1 8 1 880>239 185,68a 846,178 5062,414 155,084 556,071 753,789 106,567 555,902 57,626 939,965 128,015 942,747 2276,485 100,565 192,805 855 2,950 566 402 555 704 1,566 651 5li5 1,846 616 1,065 TOTAL LIABILITIES 4 6 , 2 8 9 , 6 8 8 2500,117 12,546,685 2762,770 5794,672 2680,841 2316,473 7946,246 1923,197 1227,293 1997,083 1 & 9 . 3 8 9 4944,923 C a p i t a l paid i n 6,862 2l;,620 7,724 18,645 8,522 14,611 4,395 69,006 6,569 7,787 19,055 11,525 199,117 Surplus ( S e c t i o n 7) 38.952 14,111 16,972 16,148 21,210 11,233 66,217 55,550 42,175 19,110 138,596 28,117 1*48,189 2,lii0 521 Surplus ( S e c t i o n 15b) 1.307 1,073 1,137 1,006 4,439 3,011 3,349 762 1,429 7,319 27,51*5 3,720 5,663 3,494 Other c a p i t a l a c c o u n t s 2 , 8 0 6 5,768 3,458 4,690 4,565 3,917 4,599 7,851 11,877 62,606 TOTAL LIABILITIES AND 4 7 , 0 2 7 , 1 4 3 2547,131 12,773,485 2 8 2 2 , n o 5862,672 2718,521 2548,049 8046,565 1950,979 1246,800 2024,688 1676,024 5010,523 CAPITAL! ACCOUNTS Contingent l i a b i l i t y on b i l l s purchased 62 156 60 2U1 44 64 112 2 / 567 165 75 for foreign correspondents 1,772 87 11*5 Commitments t o make i n d u s t r i a l 117 5,750 I98 1,114 IliO 16 U78 loans 6,788 975 t . R. n o t e s o u t s t a n d i n g 2 4 , 5 5 0 , 2 0 5 1476,555 5,641,154 1676,182 2165,766 1669,560 1556,802 4624,458 1118,118 628,908 952,255 645,310 2579,379 C o l l a t e r a l f o r F . R. n o t e s held by F . R. Agents? Gold c e r t i f i c a t e s 15,539,000 460,000 4 , 7 7 0 , 0 0 0 550,000 735,000 625,000 675,000 2760,000 315,000 200,000 280,000 169,000 2000,000 2,700 550 8,894 E l i g i b l e paper 4,744 1.555 3,880 ~ 2,522 28,535 3,910 500,000 800,000 U.S.Govt, s e c u r i t i e s 11,925,000 1100,000 1,000,000 1200,000 1500,000 1075,000 750,000 1900,000 950,000 450,000 700,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES 51 t o 61 t o 6 months 91 days t o 16 t o 1 to 2 2 to 5 Over T7ithin 15 days 90 days t o 1 year 60 days 6 months 5 years 50 days years years Total 9,640 Discounts and advances 82,717 282,550 55,285 42,979 93.911 12 2 I n d u s t r i a l leans 15 55 £i07 49 598 72 ,152,091 U. S. G<$vt. s e c u r i t i e s 4,385,040 516,100 5,814,094 1,822,146 4,659,540 21,578,204 1,666,777 1,562,616 l / A f t e r d e d u c t i n g $250,056,000 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. 5 / After deducting $ 1 , 2 0 5 , 0 0 0 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