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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released f o r p u b l i c a t i o n ' F r i d a y morning,December 19,I9U7) December 18, I9JU7 Hilu'l CONDITION OF THE FEDERAL RESERVE BANKS During t h e week ended December 17 member bank Reserve b a l a n c e s i n c r e a s e d $i4i9jOOO,000# . A d d i t i o n s - t o member bank r e s e r v e s arose from d e c r e a s e s of $318,000,000 i n T r e a s u r y d e p o s i t s w i t h F e d e r a l Reserve Banks and $i|i|,000,000 i n nonmember d e p o s i t s and J other F e d e r a l Reserve accounts and i n c r e a s e s . o f $121,000,000 i n Reserve Bank c r e d i t and $15,000,000 i n gold s t o c k , offset* i n p a r t by an inc-rease of $[J9,'00Q,000 i n ,money in c i r c u l a t i o n . Excess r e s e r v e s of member banks am December 1J 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 $ 1 , 2 0 0 , 0 0 0 , 0 0 0 , Holdings of l o a n s , d i s c o u n t s and advances decreased $51,000, ; 000, and United S t a t e s Government s e c u r i t i e s , d e c r e a s e d $328,000,000. The d e c r e a s e / i r f h o l d i n g s of U n i t e d ^ S t a t e s Government, s e c u r i t i e s f e f l e c t s d e c r e a s e s of $367,000,000 i n b i l l s , $13l4-#000,000 i n ' c e r t i f i c a t e s ; and $19,000,000 i n n o t e s , and an i n c r e a s e of $192,000,000 i n bonds;"Changes i n member bank r e s e r v e balances*and r e l a t e d items d u r i n g t h e week and t h e year-ended December X].s 19^7/ were as follows j I n c r e a s e #r d e c r e a s e since December 17, 19U7 December 10, . 19^7 December 1 8 , 19^6 ( I n m i l l i o n s cf 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 2L ,•657 T o t a l Reserve Bank c r e d i t Gold s t o c k Treasury currency 22;,738 22, ,723 173 908 h..557 Member- bank r e s e r v e b a l a n c e s 17:,581 Money i n c i r c u l a t i o n 28, ,923 Treasury cash 1.,332 616 T r e a s u r y . d e p o s i t s w i t h F«Rf Banks 'Nonmember * deposi t s and other'' F' # 'R # accounts 1,,566 + 530- -1..,551* - 131 + 9h + •121 + .15 + 1 - 1 ,590 +2,,21±6 + 3 + + + - +1.,o6U 96 -. 876 + 379 + 187 328 81 hh9. h9: 1'. 318 ; hh STATEMENT OF CONDITION . OF THE TWELVE FEDERAL i&JfiRVE BANKS COMBINED (In thousands of dollars)1 H.lul(a) I n c r e a s e or d e c r e a s e since December 17, December 10, 19U7 A S- 3 E T 8 December 18, 19U7 . 19U6 .. ' : Gold c e r t i f i c a t e s Redemption fund f o r F. .R.i 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 s Other cash Discounts and advances I n d u s t r i a l loans Acceptances purchased 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 securities 28,786,170 682,667 21,1*68,837 250,107 168,^15 4:, 435' 12 + +: - 19,000 1,217 17,783 2,237 80,968 ' 5 278 +3,196,992 - 111,069 +3,085,923 - i 742 - 134,538 + 3,906 + 12 14,832,116 6,889,605 4,1481,750 1,1|03,826 -366,900 -134,000 - 19,000 +192,023 -2,773,161 - 557,407 +1,126,459 +, 650,436 21,657,297 -327,877 -1,553,632 T o t a l loans and s e c u r i t i e s Due from foreign* banks F.R. n o t e s of o t h e r batiks U n c o l l e c t e d items Bank premises Other a s s e t s 21,830,209 95 129,083 3,846,062 33,28V 92,171 -409,128 ' + 12,365 +1,233,871 17 + 7,907 ' -1,684,302 7 4,318 + 560,688 746 + 44,169 47,649,848 + 860,544 +2,002,157 2k,822,907 + - 17,581,259, 615,901 469,440 481,248 19,147,848 2,939,187 + 449,101 - 317,710 - 47,464 * 6,512 . +1,064,473 + 379, Of4 56,529 +- 237,281 , + 90,439 •+ 703,380 +1,624,319 + 466,513 22,792 _ 46,931,734 + 2,127 + 857,773 7,993 •1,958,551 195.047 439,823 27,455 55,769 47,649,848 196 - _ - «. + 2,575 + 860,544 + 9,4o4 + 81,468 + 27 47,293 +2,002,157 TOTAL ASSETS L I A B I L I T I E S F e d e r a l Reserve n o t e s Deposits: Member b a n k - r e s e r v e , 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 items 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 A C C' 0 H I T 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 a c c o u n t s 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 -48.6fc 2,523 7,739 - w 61,827 140,274 + •235 239 178 3,920 592 H.U.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 17, I9I+7 ( I n thousands of d o l l a r s ) ' A S S E T S Gold c e r t i f i c a t e s Redemption fund for F. R. notes Total Boston New York 20,786,170 755,065 6,515,202 682,667 56,197 121,225 Total gold c e r t i f i c a t e reserves 21,1*68,837 789,260 other cash 250,107 28,606 Discounts and advances 168,1+15 12,1+92 I n d u s t r i a l loans Acceptances purchased U.S. Govt, securities! Bills Certificates Notes Bonds l+,l+85 - 1 2 - - Phila. Cleve. Rich. Atlanta Chicago S t . L o u i s 990,682 1582,1+01 1056,128 1013,559 l+2ll+,393 60,826 75,812 58,999 1+0,595 86,189 Minn. Kans.Cy. 596,919 1+29,716 733*637 1+6,750 22,895 55,661 6,l+5l+,l+27 1051,508 11+58,215 1115,127 1053,952 1+500,582 61+5,61+9 1+52,609 769,298 1+1,291 12,11*6 17,890 15,212 2o,U58 56,81+6 12,906 6,619 9,370 8,569 11,597 6,51+5 15,752 15,868 ll;,925 7,71+5 20,995 57,766 - - l,hbk 1 2 - - - -- 11,882,116 8l+8,53U 3,578,l6o 851,899 1085,751 6,889,605 1;U5,799 1,1+81,699 1+69,551 655,521+ 1,1+81,750 95,1+1+8 518,670 100,987 li+0,98i+ 1,1+03,826 '90,1+29 501,911 95,676 155,570 3k - - 3,007 -- -- -- -- -- D a l l a s SanFran. 503,016 2819,651; 26,205 51,357 529,2212870,991 12,719 36,061+ 10,815 5,552 -- - - 665,01+1+ 555,51+0 151+7,1+86 592,777 511,552 5 ^ , 5 6 5 l+U+,85l 1108,597 500,099 1+07,175 969,051+ 1+02,816 251,136 552,155 576,915 619,676 107,556 87,571 268,1+21 .86,655 1+9,710. 71,1+51 81,06k 135,275 101,900 82,966 197,1+61 B'2,077 1+7,096 67,671+ 76,800 126,266 Total U.S. Government' securities 21,657,297 H+78,2io 5,1+80,1+1+0 11*98,113 2013,809 l57l+,599 H33,252 2922,1+52 H6t*,303 639,271+ 1015,603 91+9,628 1987,61!+ 21,830,209' 11+90,702 5,518,218 1508,126 2025,1+06 1581,178 1152,011 2935,520 1179,226 61+7,019 1056,596 960,1+1+1 1992,966 T o t a l loans and securities ~ Due from f o r e i g n - t a n k s - . F.R. n o t e s of o t h e r banks Uncollected items Bank premises Other a s s e t s TOTnL ASSETS 1 / -:2& T8,882 95 129,085 '••£ l+,776 3,81+6,062 507,691 762,652 55,281+ 92,171 1,269 9,057 , 8,257 18,9Q1 ! 8 6,612 9 7,252 5 15,558 265,1+56 575,211+ 552,157 5,17l+ 5,690 5,168 8,277 2,61+5 6,21+8 1+ 13,307 Hi 18,365 1+ 8,518 3 5,31+9 k 8,?l+3 617,575 185,058 93,272 185,569 l,56l 3,01+6 1,976 5,252 • , 12,766 • . 5,559 1,211 2,866 2,1+56 l+,518 262,790 5 5,152 9 18,789 11+5,381+ 297,1+8!+ 801 . l+,869 1,720 8,388 1+7,61+9,81+8 2651,367 12,802,631+ 2850,720 5,995,1+29 2885,890 2509,295.7927,511+ 2056,896 1208,91+8 2016,551+ 1653,590 5226,1+11 1 / A f t e r d e d u c t i n g $ 6 9 , 0 0 0 , p a r t i c i p a t i c n s - - * f o t h e r F e d e r a l Reserve Banks. H.l*.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 17, I9I47 ( I n thousands of d o l l a r s ) Total Boston Minn. Kans.Cy, D a l l a s SanFran, New York Phila, Cleve. Rich. A t l a n t a Chicago St..Louis 626,71*0 9^7,750 629,552 2651*, 579 5,710,358 l63l*,5l*2 2150,529 1757,991 lii07,965 1*635,099 llU5,06U 211,822,907 11*71,950 L I A B I L I T I E S F e d e r a l Reserve n o t e s Depositsj Member b a n k - r e s e r v e a c c t . 17,531,259 779,1*55 5,5ll*,l*i*6 81*9,779 1509,702 758,1*05 783,661 259^,009 659,575 U5l*,592 860,098 851*,219 2l77,li38 28,980 26,099 38,625 87,369 22,li03 29,539 2o,i*7i* U.S.Treasurer-general acct.6^5,901 1*7,1*1*2 177,001* 36,632 63,116 38,200 10,223 16,765 55,610 11*,312 ii*,5l2 Foreign k(9,kkQ 26,230 1/191,272 35,121 30,020 20,036 13,1*9U 56,029 775 1,007 5,591 6,527 1,599 1*81,2I4O h,h33 1*00,931* Other 2,229 7,232 2,128 1*2,257 756 Total deposits I9,ll;7,8ii8 057,568 6^291,736 921,811 11*10,153 018,01*9 01*5,050 27140,579 702,017 1*95,202 "902,00U 877,738""2275i 198 Deferred a v a i l a b i l i t y items2#38,187 2 5L.,535 569,091 185,187 250,1*26 271,535 22U,9li9 1*51,01*1* 161,1*62 67,6U6 139,091* 125,.030 230,100 Other l i a b i l i t i e s i n c l u d i n g 01*0 accrued dividends 786 775 1,315 22,792 .1,261 O67 5,171 8,11*9 1,300 1,909 1*510 • 529 TOTAL LIABILITIES 1*6,931,751* 2505,522 12,579,551* 2792,81*0 3829,102 20l*§",635 21*78,839 7330,693 20l5",l33 "1190,117 1939,69** 1&55.11* 5 5162,780 Capital paid in 6,502 10,071 25,766 7,295 114,570 6,392 6,202 11,231 !*,285 68,1*92 7,1*95 13,950 195,01*7 Surplus (Section 7) 30,106 13,777 31*, 720 10,663 16,577 10,997 15,729 65,070 27,557 20,676 1*59*325 156,51*9 1*1,391 Surplus (Section 13b) 2,11*0 762 5,012 1,507 521 1,075 1,157 1,1*29 1*,1*89 27,1*55 5,525 1,007 7,255 Other capital accounts 6,51*8 5,550 5,511* 5,292 3,060 5,223 U.301 2,1*76 55,789 U.2U5 14,976 1*,002 11,006 " ~ TOTAL LIABILITIES AND 2 OAPITAL ACCOUNTS 147,61*9,31*8 2631,367 I2,002,63i4 2350,720 3395,1*29 2885,090 2509,295 79 7,3ll* 2036,096 12oo,9l*0 2016,351* 1650,590 5226,1*11 Contingent l i a b i l i t y on b i l l s purchased 222 for f o r e i g n c o r r e s p o n d e n t s 2,523 162 2 / 007 20l* 235 I2I400 83 101* 63 03 -51*5Coiiimitments t o make i n d u s t r i a l ~" 1*00 352 loans 7,759 - _ - 79I. 1,612 .73 5,750 11*3 500 F. R. n o t e s o u t s t a n d i n g 25,603,14OO 1526,11*1* 5,902,283 1730,1*03 2222,209 1002,375 U457>i*13 1*756,022 1132,223 61*0,6o6 972,738 656,59'2 2773,592 C o l l a t e r a l for-F.R. notes 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 12,739,000 i*6o,ooo 3,570,000 550,000 725,000 675,000 675,000 3070,060 3 H 0 O 0 200,000 230,000 169,000 2100,00( E l i g i b l e paper 6,750 19,600 - 1,85< 23,555 5,51*5 - 1*J595 - - 15,550 85,170 , 9,9^5 U.S. Govt, s e c u r i t i e s 1*50,000 700,000 500,000 1000,001 13,1*56,000 1100,000 2,1400,000 1200,000 1500,000 1150,000 800,000 1700,000 950,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES 61 t o 16 t o 51 t o 1 to 2 2 to 5 Ove r 91 days t o 6 months Within 90 days 50 days y e a r s y e a r s 5 years 60 days 15 days 6 months t o 1 y e a r Total Discounts and advanceD 20 18 5,052 22,810 152,170 168,1*15 8,365 I n d u s t r i a l loans 2 11 1 1* 25 I*,!*!*!* 1*,1*35 Acceptances purchased 12 12 U.S. Govt, s e c u r i t i e s 1,026,136 157, 51*0 2 1 , 6 5 7 , 2 ^ 7 2,770,71*1* 5,156,901 1*, 820,2140 It, 109,211 671,651* l*,961*,82l ; l / ' A f t e r d e d u c t i n g $278,052,000 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"/After deducting $ 1 , 7 1 6 , 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 keserye Banks.
@FedFRASER