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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) December 23, 1943 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended December 22 member bank reserve balances decreased $536,000,000, Reductions in member bank reserves resulted from increases of $606,000,000 in Treasury deposits with Federal Reserve Banks, $191,000,000 in money in circulation, and $46,000,000 in nonmember deposits and other Federal Re* serve accounts, offset in part by increases of §302,000,000 in Reserve Bank credit and $4,000,000 in gold stock. Excess reserves of raember banks on December 22 were estimated to be approximately $710,000,000, Holdings of loans, discounts and advances increased $160,000,000 vrhile holdings of United States Government securities decreased $148,000,000, The decrease in holdings of United States Government securities reflects decreases of $107,000,000 in bills, $56,000,000 in bonds, and $7,000,000 in notes and an in*crease of $21,000,000 in certificates. Changes in member bank reserve balances and related items during the week and the year ended December 22, 1943, were as follows: Increase or decrease since December 22, December 15, December 24, 1943 1948 1947 (In millions of dollars) U. S. Government securities Loans, discounts and advances Other Reserve Bank credit 22,345 427 949 - 143 + 160 + 291 Total Reserve Bank credit Gold stock Treasury currency 24,221 24,234 4,584 302 Member bank reserve balances Money in circulation Tr-L'.sury cash 1rr.--.i3iri.-y deposits with F.R.Banks Nonmember deposits and other F, R, accounts 19,399 28,560 1,326 1,575 1,680 536 191 1 606 46 + + + 945 143 123 4 +1,210 +1,491 1 + 28 +2,522 r 551 + 8 + 646 + 104 H.U.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RSbERVB BANKS CGLJtiJMED (In thousands of dollars) Increase or decrease since> Dec. 15, 191+8 Dec. 21*f + 1*,001 l*,ooi — - 11,1*21 +159,61*1* 20 +1,530,259 52,821* +171*77,1*35 23,773 + 11*3,1*51 573 5,020,995 5,960,369 806,950 11,056,550 -106,871 + 21,250 - 7,000 - 55,903 -6,765,71*0 - 911,886 - 72l*,800 +9,31*6,957 22,8U*,86U -11*8,52!* + 23,271,969 32,302 l!+l+,25o + 11,100 — + 11,911* -151*, 188 + 23 + 1*90 +1,087,1*09 1*6 + 20,790 • 21*0,871 91*0 + 1*2,618 50,212,613 -11*2,082 +2,81*1*, 361* 2U,397,UU8 «. 15,898,699 l,57l*,577 51*9,383 1*83,970 22,506,629 2,1*85,1*08 +188,117 - -06,1*1$ +605,366 + 18,223 + 21,21*8 +108,389 -1*1*5,103 +2,521,717 + 61*5,661* + 87,866 21,825 +3,233,1*22 + 118,056 15,293 U9,UOU,778 + 268 -11* 8,329 6,898 +2,757,579 200,981* 1*1*8,189 27,5143 131,119 50,212,613 + + 5,629 + 8,366 + 88 + 72,702 +2,81*1*, 361** Dec. 2 2 , 19^8 ASSETS Gold c e r t i f i c a t e s Redemption fund f o r .F. R# n o t e s Total 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 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 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: 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 CAPITA L A C C 0 U N T 3 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 LIABILITILS 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 f o r e i g n c o r r e s p o n d e n t s Commitments t o make i n d u s t r i a l loans 22,325,1+29 63UsU93 22,959,922 219,628 1+26,237 868 U9 150,078 5.,U3U,U5 179 — — + 6,068 -11*2,082 1*9.0$ 3,371 6,090 191*7 ,3% + + 10 28 91*1*, 531 587,001 .» + - 916 1,597 H.4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 22, 1948 (In thousands of dollars) ASSETS Total Gold certificates Redemption fund for F. R. notes Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. 22,325,429 818,950 7,224,437 1041,428 1467,055 985,074 1040,939 4412,652 659,017 462,645 833,371 Dallas SanFran. 507,622 2792,239 36,235 26,761 46,501 Total gold certificate reserves 22,959,922 373,168 7,280,433 1101,992 1542,653 1044,342 1085,517 4519,331 703,953 485,804 869,606 614,383 2838,740 10,764 12,548 —- 28,284 20,646 —- 227,544 270,118 36,570 501,072 463,861 541,065 73,253 1003,680 Total U.S.Government securities 22,844,864 1489,049 5,477,790 1631,310 2190,137 1483,637 1145,281 3284,585 1261,333 699,2573064,822 1035,304 2081,859 634,493 54,218 55,996 60,564 75,598 59.268 44,578 106,679, 44,936 23,159 Other cash 219,628 23,048 31,817 10,661 15,943 14,926 17,794 32,952 12,502 11,694 9,243 Discounts and advances 426,237 19,982 213,024 20,909 28,247 16,586 15,820 50,180 7,043 7,3.87 14,065 Industrial loans 868 ——818 —— 50 — — -— — U. S. Govt, securities: Bills 5,020,995 290,857 1,203,947 358,651 481,363 326,084 251,717 752,027 277,224 153,686 234,034 Certificates 5,960,369 400,680 1,429,189 425,750 571,421 387,089 298,811 846,897 329,090 182,441 277,818 Notes 806,950 54,246 193,492 57,640 77,362 52,407 40,455 114,658 44,554 24,700 37,613 Bonds 11.056.550 743.266 2.651fl62 789P769 1059.991 7l8f057 554.298 1571,003 610.465 338.430 515.357 Total loans and securities 23,271,969 1509,031 5,690,814 1653,537 2218,384 1500,273 1161,101 3334,765 1268,376 706,444D78,887 1047,852 2102,505 Due from foreign banks 49 3 1/ 16 4 4 2 2 7 2 1 2 2 4 F.R.notes of other banks 150,078 6,817 16,735 5,566 9,532 24,841 11,564 19,245 8,674 7,483 7,624 7,409 24,588 Uncollected items 3,434,415 263,773 667,136 229,623 358,979 290,938 225,760 536,106 146,043 80,864 176,824 169,564 288,805 Bank premises 32,302 1,185 8,045 3,053 4,869 2,564 1,580 3,092 1,945 1,645 1,180 2,386 758 Other assets 17,/,t?50 10,576 ^,90/, 9,Q56 1^,35? 9,?9? 7,?6l ?n,^5 a ; t^ .„13*258 V,,356 , 6,593 6,51? TOTAL ASSETS 50,212,613 2687,601 13,728,900 3014,392 4164,216 2887,178 2510,579 8466,033 2149,650 1297,826 2151,165 1857,244 5297,829 1/ After deducting $33*000 participations of other Federal Reserve Banks* H.l+.Kc) L I A B I L I T I E S Total Boston F e d e r a l Reserve n o t e s 24,397,14+8 11+44,757 Deposits: Member b a n k - r e s e r v e a c c t . 1 9 , 8 9 8 , 6 9 9 829,051 U . S . T r e a s u r e r - g e n e r a l acctl,57lj.,577 117,385 33,6o4 Foreign 549,383 4,086 Other 483,970 Total deposits 22,506,629 984,126 Deferred a v a i l a b i l i t y i t e m s 2 , 4 8 5 , 4 0 8 206,239 Other l i a b i l i t i e s i n c l u d i n g accrued dividends 846 15,293 TOTAL LIABILITIES 4 9 , 4 0 4 , 7 7 8 2635,968 Capital paid in 200,984 11,359 surplus (Section 7) 448,139 28,117 Surplus (Section 13b) 27,543 3,oil Other capital accounts 131,119 9,146 TOTAL LIABILITIES AND C A P I T A L ACCOUNTS 5 0 , 2 1 2 , 6 1 3 2687,601 Contingent l i a b i l i t y on b i l l s purchased for foreign correspondents 5,572 215 Commitments t o make i n d u s t r i a l loans 6,090 75 F„ R. n o t e s o u t s t a n d i n g 25,205,378 1502,419 C o l l a t e r a l f o r F. It. 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 15,474,000 460,000 E l i g i b l e paper 182,768 7,850 U.S.Govt, s e c u r i t i e s 12,500,000 1100,000 Total_ 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 426,257 868 22,844,864 STATEMENT" OF CONDITION OF THE FEDERAL H&SBhVB BANES ON DECEMBER 2 2 , I9U8 ( I n thousands of d o l l a r s ) Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.C y. 5,601,785 1684,603 2173,846 1687,394 1352,478 4629,314 1156,424 636,431 942,947 6,480,193 953,552 1447,172 338,179 9 6 , 0 9 4 164,333 1/136,637 43,205 49,073 4.799 6,545 409,406 7,414,415 1097,650 1666,921 464,800 166,301 247,155 4,345 923 1,603 316,990 102,526 26,137 1,901 947,354 209,468 750 Dallas SanFran. 632,193 2455,271 819,112 3035,888 734,378 490,793 929,857 971,320 2389,893 71,378 100,170 71,533 89,500 78,912 258,914 85,803 18,136 46,974 21,869 72,542 19,202 15,335 18,669 520 1)4,164 335 2,558 6,592 2,173 1,113 920,228 3369,882 346,475 577,679 1049,809 1061,559 2570,551 61,647 126,917 152,950 198,627 202,151 354,131 114,522 681 13,485,345 2949,977 4089,530 281+4,966 2475,538 8,646 7,862 69,324. 14,684 19,079 138,596 35,5^0 42,173 21,210 19,110 7,319 4,439 1,006 3,349 762 28,516 9,892 12,1+28 9,007 7,307 41+0 644 683 1,449 559 2,535 8355,712 2118,065 1276,197 2120,212 1827,390 5225,878 25,309 6,671 4,1+46 6,962 7,813 18,829 66,217 16,972 11,233 16,148 l4,m 38,952 1,429 521 1,073 1,137 1,307 2,140 17,366 7,421 4,877 6,706 6,625 12,030 13,728,900 3014,392 4164,216 2887,178 2510,579 8466,033 2149,650 1297,826 2151,165 1857,244 5297,329 121 84 118 281 931 283 481 151 5,775,260 1759,482 2 2 4 l , o o 6 1742,536 1398,192 4746,396 1193,725 649,750 5,750 967,267 2/ 1,079 273 310 165 158 459 115 297 105 664,592 2535,153 4,370,000 550,000 745,000 625,000 575,000 2660,000 315,000 210,000 280,000 I84,ooo 2000,000 3,700 110 149,450 5,510 — 6,650 7,525 2,375 1,000,000 1200,600 1500,000 1150,000 850,000 2100,000 950,000 450,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LCkiHS AND SECURITIES Over 6 months 2 to 5 Within 16 t o 61 t o 91 days t o 51 t o 5 years 13 days to 1 year 30 days 90 days years 6 months 60 days years 96,710 256,537 40,895 32,295 8 2 2 15 57 784 564,900 2,048,972 9,007,578 2,227,680 1,459,237 858,743 1,839,555 4,217,876 660,273 1/Aft deducting $362,712,000 participations of other Federal Reserve Banks* 2/ After deducting $2,293,000 participations of other Federal Reserve Banks.
@FedFRASER