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BOARD CP GOVERNORS OF THE FEDERAL RESERVE SYSTEM HJul (For Immediate Release) December 2 , I9I48 COUDITION OF' THE FEDERAL RESERVE BAi'KS During t h e week ended December 1, member bank reserve b a l a n c e s decreased $57*000,000. Reductions i n member bank r e s e r v e s r e s u l t e d from a d e c r e a s e of $158,000,000 i n Reserve Bank c r e d i t and i n c r e a s e s of $20,000,000 i n money i n c i r c u l a t i o n and $21,000,000 i n T r e a s u r y c a s h , o f f s e t i n p a r t by a d e c r e a s e of 4>123,000,000 in Treasury d e p o s i t s w i t h F e d e r a l Reserve Banks and i n c r e a s e s of $15*000,000 i n gold s t o c k and $ 3 , 0 0 0 , 0 0 0 i n T r e a s u r y c u r r e n c y . Excess reserves of member banks 'on December 1 were e s t i m a t e d t o be approximately $800,000,000. Holdings of l o a n s , d i s c o u n t s and advances decreased $276,000,000, while 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 i n c r e a s e d $172,000,000. The i n c r e a s e i n holdings 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 of $113,000,000 i n b i l l s , $ i | l , 0 0 0 , 0 0 0 i n c e r t i f i c a t e s , $16,000,000 i n n o t e s , and $3,000,000 i n bonds. Changes i n 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 t h e week and t h e year ended December 1, l9i|B, were as f o l l o w s : I n c r e a s e or d e c r e a s e since December 1, I948 November 21]., IdhQ December 3> l'9h7 ( I n m i l l i o n s of d o l l a r s ) U# 8. 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 23,165 307 311 Total Reserve Bank c r e d i t Gold s t o c k Treasury currency 23,783 2U.165 U,583 Member bank r e s e r v e b a l a n c e s Moir^y i n c i r c u l a t i o n Tre:-bury cash Troasary d e p o s i t s w i t h F.R.Banks Iloniaenber and other F.R f accounts 19,877 28,325 1,338 1,527 1.1*65 + — + + w + + + 172 276 5U 158 15 3 57 20 21 123 1 + 1 ,oU5 + Ui - 133 + 953 +1 ,U85 + 30 +2 ,839 » 1*92 h + - 271 Hi 5 HOul(a) STAIBMBNT OF CONDITION CF THE TWELVE FEDERAL RESERVE BANKS COIIBINED ( 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 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 T o t a l U, S, Government securities Total loans and s e c u r i t i e s Due from f o r e i g n banks F . R, n o t e s of o t h e r banks U n c o l l e c t e d items Bank premises Other a s s e t s 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: I±ember bank-re serve 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 ACCOUNTS 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 , n o t e 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 f o r f o r e i g n correspondents Commitments t o make i n d u s t r i a l loans Dec # 1, 19U8 Nov, 2k$ I9ii8 Dec, 3 , igli7 22,260,ii30 628,182 22,888,612 21*1*,85U 306,566 955 + h,999 + 932 + 5,951 - 10,652 -275.U98 U7 +1,526,260 55,686 +1.U70.571* 6,311 • 1*3,985 2,711 1*03 5,158,791* 6,061,119 796,950 11,168,376 +113,000 + 1*0,500 + 16,000 * 2,51*9 -7,581,71*9 -1,005,286 - 659,500 +10,091,71*5 23,165.259 +172,01*9 • 1,01*5,1*08 25.U72.558 -105,1*96 1*9 150,818 2,7ii8.698 32,175 251,668 5,122 - 15,226 65 + 8,580 + 1,086,279 i*6 + 19,575 21,621 993 155,901* + ii9.7U9.Ul2 -118,050 • 2,703,159 2h,178,858 + 12,569 527,653 19,876,917 1,526,782 U89,ool* 1*57,861* 22,330,567 2,^38,081 - 57,501* -125,511 + 25,06!* - 18,5U0 -176,291 +1*0,721* + 2,833,1*18 + 270,71*1 + 22,608 81,1*12 + 3,050,555 + 111,522 13,778 U8,96l,26U 725 -123,723 6,U*8 + 2.627,576 200,213 1*1*8,I89 27,51*3 112,205 Ii9,71*9,1* 12 + + 5,661* -118,030 + 5,1*85 + 8,566 + 88 + 61,61*6 + 2,705,159 59 75 1,050 1,1*21 29 1*9-2% 1,791 6,022 Hjul(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECE1SBR 1, 191*8 ( 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 Total Boston 22,260,1*30 793,676 628,182 52,389 F. R. notes New York Phila, Cleve. 7,298,661 1021,21*0 11*10,282 56,829 59,881 73,91*8 Rich. Atlanta Chicago S t , L o u i s 993,1*50 1035,373 U3la»665 58,359 1*1*,765 103,962 Minn, Kans.Cy. D a l l a s SanFran, 663,819 1*81,188 805,155 602,936 2807,985 l*5,QIi* 23,213 36,307 26,823 1*6,692 Total gold c e r t i f i c a t e reserves other cash 22,88^,612 2l*l*,85i* d i s c o u n t s and advances 306,366 I n d u s t r i a l loans 955 IL» S. Govt, s e c u r i t i e s : B i l l s ' 5,138,791* Certificates hotes Bonds 6,o6l,ll9 796,950 11,168,376 81*6,065 7,355.1*90 1081,121 iUeU»230 1056,809 1080,138 1*1*1*5,627 708,833 23,005 31,726 10,391* 16,523 18,705 23,152 33,075 18,831* 17,878 8l*,73l* 21*,1*72 gcj6 3l*,38l* - 335,992 1,232,192 367,065 192,657 26,331 57 l6,0l*2 30,816 333,735 2 5 7 , 6 2 2 71*3,68l* 1*07,1*53 1,1*53,31*7 1*32,91*6 581,079 393,633 53,571* 191,09!* 56,926 76,1*01* 51,757 750,783 2,677,976 797,757 1070,712 725,319 303,863 861,213 39,953 113,237 559, M 1586,892 50!*,1*01 81*1,1*62 629,759 2851*,677 13,802 11,200 12,71*5 31,693 2l,8l*i* 5,725 36,286 . 259,382 157,293 239,521* 33I*,653 185,521* 282,515 U*,002 2l*,39l* 37,11*7 616,639 31*1,853 520,569 7,697 20,15U 232,88!* 1*81,761* 27I*,683 550,210 36,117 72,31*5 506,11*0 1013,852 T o t a l U,S.Government securities 23,165,259 151*7,802 5,55l*,6o9 1651*,69!* 2220,852 l50l*,l*l*l* 1161,51*2 5310,026 125I*,676 709,06!* 1079,755 101*9,821* 2118,151 23,1*72,558 1565,680 5,659,31*3 1680,062 2255,236 1530,815 1177,381* 331*0,81*2 1276,520 711*,789 1096,01*1 1057,521 2138,505 T o t a l loans and securities Due from f o r e i g n banks 1*9 F , R . n o t e s of o t h e r banks 150,818 U n c o l l e c t e d items 2,71*8,698 Bank premises 32,175 Other a s s e t s 251,668 TOTAL ASSETS 5 1*, 500 217,551 1,190 15,628 l / 16 II*,820 506,221* 8,0l*2 5i*,321 1* 1* 2 5,1*16 6,507 21,851 181,535 282,703 21*0,201 3,058 1*,788 2,561* 15,931* 22,132 ll*,797 2 11,61*5 170,21*6 2,580 11,501 7 li*,8i*8 1*31,81*8 3,059 32,1*26 2 6,272 121,911* 1,91*5 15,661* 1 11,017 75,039 1,180 6.90I* 2 7,680 l6l,8l*3 2,586 10,681 2 7,579 122, &*9 758 10,801* 1* 18,903 257,11*5 1,61*5 20,876 1*9,7149,1+12 2673,622 13,609,982 2977,32!* 1*072,123 2885,721* 21*75,61*8 8301,712 211*9,981* 1327,133 2131,295 181*1,617 5303,21*8 l/ A f t e r d e d u c t i n g $33,000 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) L I A B I L I T I E S Total Boston 2l*,178,858 11*26,999 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 1 , I948 ( I n thousands of d o l l a r s ) New York Phila. Cleve, Rich» A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. D a l l a s SanFran. F e d e r a l Reserve n o t e s 5.51*1.767 1 6 6 5 , 9 2 5 2 1 3 6 , 1 1 3 1669,172 1332,892 1*581*,809 1138,766 635,655 91*1,1*68 651,1*37 21*77,835 Deposits: Member bank r e s e r v e a c c t . 19,876,91? 81*0,811* 6,555,810 938,591 11*50,398 829,853 817,769 3021*,950 737,295 1*99,321 896,83U 9U2.205 2365,0?!* 283,630 121,610 130,1*01 108,705 107,918 ll*5,91l 10i*,2l8 U . S . T r e a s u r e r - g e n e r a l a c c t . 1 , 5 2 6 , 7 8 2 122,831* 95.359 10l*,096 107,h53 9l*,6u7 29,516 1/170,56? 57,91*9 1*3,102 22,957 16,866 1*89,001+ 63.716 Foreign 1*1,283 19,209 16.597 11,713 15*929 : 6,1*U1 1,721 369,191 1,825 7,1*32 2,123 1,087 Other U57.86U 3,123 ,ch 1*0,361 1,872 Total deposits 22,350,567 99l*,885 7,378,998 1099,975 1611,333 963,658 9I*5,985 3237,700 861*,82o 6 0 8 , 5 0 0 1 0 1 9 , 1 9 9 1 0 6 6 , 1 7 1 2 5 3 9 , 5 6 5 Deferred a v a i l a b i l i t y items 2 , 4 5 8 , 0 8 1 200,569 ljl*6,9l5 11*9,578 250,244 211,568 162,110 569,379 H5.U09 65,1*61* 11*0,125 ill*,335 2 1 4 , 5 8 9 Other l i a b i l i t i e s i n c l u d i n g 760 870 1.621 accrued d i v i d e n d s 13.778 57u 2,128 1*98 570 681* 1,259 671 550 3,593 TOTAL LIABILITIES 1*8,961,261* 2623,215 13.371,271 2914,348 3999,311 2844,.81*9 21*41,559 3194,016 2119,51*5 1306,117 2101,360 1812,62? 5233,01*8 Capital paid i n 18,821* 200,215 11,51*9 68,986 ll*,61*5 19,019 8,51*1* 7,81*4 25,277 6,605 4,1*21 6,897 7,80li Surplus ( S e c t i o n ?) 1*1*8,189 23,11? 138,596 35,350 1*2,173 21,210 19,110 66,21? 16,972 11,235 16,11*8 11*. H I 38,952 Surplus ( S e c t i o n 13b) 5,31*9 762 1,429 521 i,o73 1,137 1,507 2,l!*o 27,51*3 3,011 7,319 h,hQ9 1,006 Other c a p i t a l accounts 112,205 7,952 25,810 8,1*92 10,611* 7,772 6,573 lit. 773 6,51*5 U.289 5,753 5,768 10,28k TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1*9,71*9,1*12 2675,622 15,609,982 2977,32!* 1*072,125 2885,721* 21*75,61*8 8501,712 2149,984 1327,133 2151,295 181*1,617 5303,21*8 Contingent l i a b i l i t y on b i l l s purchased for f o r e i g n c o r r e s p o n d e n t s 1,791 61 113 2 / 573 H*5 165 88 73 21*1* 64 63 157 U5 Commitments t o make i n d u s t r i a l 6,022 75 loans 20l* 985 130 288 1*83 3,750 107 F . R. n o t e s o u t s t a n d i n g 2li,889,325 11*80,858 5,701,191* 1708,795 2194,1*73 1717,939 1383,957 1*669,742 1175,1*73 6]*4,995 9 6 5 , 2 6 5 662,383 2583,751 C o l l a t e r a l f o r F.R. n o t e s held b y F.R. Agents 1 Gold c e r t i f i c a t e s 13,294,000 1*60,000 li,770,000 550,000 735,000 625,000 575,000 2600,000 515,000 200,000 280,000 184,000 2000,000 700 196 a, 5U8 E l i g i b l e paper 63,006 5,950 13,755 6,565 — 15,1*05 — — 13,885 U.S.Govt, s e c u r i t i e s 12,500,000 1100,000 1,000,000 1200,000 1500,000 1150,000 ^50,000 2100,000 950,000 1*50,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES 2 to 5 Over YJithin 16 t o 31 t o 61 t o 91 days t o 6 months 1 to 2 5 years years 15 days 30 days 60 days 90 days 6 months t o 1 year years Total Discounts and advances 306,566 173,066 20,519 81*.757 28,021; I n d u s t r i a l loans 933 769 93 — 2 2 44 15 U.S.Govt. s e c u r i t i e s 23,165,239 1,394.099 1.010,521 1,558.529 2,225,445 851*.21*3 h, 361*, 126 589,900 1,959,1;!? 9,208,959 l/After deducting $318,580,000 participations of other Federal Reserve Banks. 2/ After deducting $1,218,000 participations of other Federal Reserve Banks.
@FedFRASER