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BOARD OF GOVERNORS OF THE FEDBKAL RESERVE STSSTSfc (Released f o r P u b l i c a t i . c n ^Thursday morrfirig, January 1/19^8') -HJul December 31** I9ii7 CONDITION OF THE FEDERAL RESERVE BANKS: During t h e p e r i o d December 25*50, member bank r e s e r v e b a l a n c e s i n c r e a s e d $6olj,000,000« A d d i t i o n s to.member bank r e s e r v e s a r o s e from i n c r e a s e s of $371,000,000 i n Reserve Bank c r e j r t , $11,000,000 i n gold s t o c k and $2,000,000 i n T r e a s u r y c u r r e n c y and d3creases of $11*0,000,000 i n money i n c i r c u l a t i o n , $97,000,000 i n T r e a s u r y d e p o s i t s vil\zh F e d e r a l Reserve Banks, and $9,000,000 i n nonmember d e p o s i t s and othe;. F e d e r a l Reserve a c c o u n t s , o f f s e t i n p a r t by an i n c r e a s e of $25,000,000 in T r e a s u r y cash*' Excess -reserves of member banks on December 30 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 , 5 9 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 d e c r e a s e d $136,000,000, w h i l e 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 $716,000,000* The i n c r e a s e i n 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 r e f l e c t s an i n c r e a s e of $970,000,000 in bonds and d e c r e a s e s of $167,000,000 i n b i l l s , $55,000,000 i n n o t e s , and $33*000,000 i n c e r t i f i c a t e s # Changes i n member bank r e s e r v e b a l a n c e s and r e l a t e d items dtiring t h e p e r i o d December- 2 5 - 3 0 , l # i 7 , ancTthe year tended December' 36^ 19^7* were as follows* I n c r e a s e or d e c r e a s e since December 30, 19U7 December 2k$ 19U7 December 31* ' l9U(y ( I n m i l l i o n s of d o l l a r s ) U» S t 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 22,616 lli8 618 + • - 716 136 208 + T o t a l Reserve Bank c r e d i t •Gold s t o c k Treasury currency. 23,382 22,75U + + + 371 11 2 mm Member bank r e s e r v e b a l a n c e s Money i n c i r c u l a t i o n Treasury cash T r e a s u r y d e p o s i t s w i t h F # $« Banks Nonmember d e p o s i t s and o t h e r F,R # accounts 17,981 28,971 1.3U3 832 1,567 + + •» 60U 1U0 25 97 9 a, 558 - 8i + 73U 16 38 711 2,225 • a + i,ea2 4- 19 929 «• + * a39 138 H*4.1(a) . STATEMENT OF CONDITION -r QF'TUB TWELVE FEDERAL RESERVE BANKS'G (MB INED (In thousands of. del lars) I'" ; ' \ I n c r e a s e or d e c r e a s e since December 2l|, 19^7 December 30, December 3 1 , . $ ' . ' • . • ' " •• . 1. . 1 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 20,805,170' ^687,2li9 •21,J492,I;19 - 255,1269. ll+7,0l+7 ••: 1,365 + 9,932 •+ 11,868 - 135,739 76 +' 3,217,995 106,867 + 3,111,126 12, .621 16,032 + 815 U. S# Govt, securities: ' Bills Certificates * Notes Bonds Total U# S«Government securities ' •11,619^75 6,839,605 1,1+76,550 2,679,965. -.167,260 - 32,650 - 55,200 ' ••970,370 - 3,125,508 656,1|07 + 1,121,250 + 1,926,573 Total loans and securities Due from foreign banks F.R# notes of other banks Uncollected* items Bank premises 0the^r assets .TOTAL ASSETS 22,615/593 22,76^,005 95 138,916 2,866,182 33,226 113,680 147,665,792 + + 10,000 .v 68 715,260 - 73li,092 + 579,1+1+5 .•• .+ » 719,509 7 211,1169 266,608 820 65,231 € 9,628 '• '•; A 327,362 ..,\"'; 16 + 12, 0I4.8 + 2 9 5 ; 5U3 -+ 2,657,379 - 95,385 56,21*0 L I A B I L I T r-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 d e p o s i t s 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 AC C 0 U N 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 lpb) Other c a p i t a l accounts TOTAL LIABILITIES 4NP 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 for f o r e i g n correspondents, ; • "j; Commitments tro make - i n d u s t r i a l loans 2^„889,06b '17,98Ii126 831,5Uo : 1+25,359 v ': 5U2.-056 19,780,531 2,2^8,205 + 6oU,il+l+ - 97,373 - 35,658 + 36,261 + • 507,3714 - H9,lU7 + 1,81+2,21*8 + 1+38,671 82,157 + 228, it 18 + 2,1^27,180 + 228,309 22 ,-28 5 •)|6,9liO,l35 +292,936 • + 12,893 + 2,612,11*2 195,501 U39.-823 27,Ii55 60,878 1+7,663,792 + + 2,li6l t 295,5^3 Ij.8.1%' 2,1+89 7*U5& ll+6 8,671 + + 2,657,379 • !$ t ~ %• ^31 36,566 "'h*($/<> r ' U,058 853 H,i+.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 50, 191+7 ( I n thousands of d o l l a r s ) A S S E T S Total Gold c e r t i f i c a t e s 20,805,17?) Boston New York Phi'la. Cleve. Rich, 71*5,559 6,515,108 1006,789 1585,908 1022,718 Atlanta Chicago S t . L o u i s Minn, Kans.Cyy 998,792 1*506,150 609,021+ 1+26,817 Redemption fund f o r F. R. notes Total, gold D i s c o u n t s and advances industr-ial loans *J 56,152 21,1+92,^19 255,269 801,671 29,955 ll+7,Ol+7 1,565 10,905 - - 11,619,1*75 815,059 120,919 60,707 75,717 60,1+95 1*0,51*5 90,101 146,701; 22,881+ 55,625 • • 26,180 51.21+0 certificate reserves other cash U.S. Govt, 7l*5,5l*7 1*87,61+1 2759,557 - 687,2^9 Dallas SanFran. 6,l+5l*,027 1067,1+96 ll+6l,625 1085,215 1059,557 1*596,251 655,728 1*1*9,701 778,972 55,o26 12,157 2o,625 17,502 20,506 l+o,59l* ll*,857 6,966 9,1*80 52,185 - - 10,1+1+6 1,555 8,212 - - 7,09!* 50 5,?il*,890 "812,271 1058,522 61*8,586 ll*,8l*5 - - 15,557 11,571 1,265 8,9?1 51*1,555 11*90,965 592,250 505,867 551,550 515,8212810,577 11,522 56,719 1,670 6,528 securitiess ills Certificates Notes BOnds 6,859,605 !*1*1*,652 1,1*76,550 95,989 2,679,965 I7l*,222 1,190,567 1*71,158 651,977 1*89,515 599,856 521,787 101,711 11*0,751 105,677 86,518 56i*,050- 18l*,606 ,255,1*65 191,805 156,668 955,580 205,818 575,565 1*28,5251082,099 595,451 225,570 550,228 566,1*19 622,912 8l*,955 1*8,697 71,289 79,105 I5l*,i*75 15l*,159 88,585 129,591 11*5,57l* 21+1+.075 Totaal U„S a Government securities 22,615,595 1529,882 5,711,29!+ 1569,726 2106,515 11*55,585 H8l*,555 5025,726 l221+,775 666,519 .1062,1+58 1017,1*19 2085,56l 22,761+,005 151*0,785 5,765,1*79 1581,507 2lll+,727 11+1+2,507 1199,200 5057,285 1256,51*6 667,781* 1071,1*09 1019,089 2089,889 Totatl l o a n s and securities Due f r om f o r e i g n banks F.R.no.tes of other banks Uncollected items Bank -premises Other a s s e t s TOTAL ASSETS 95 „ .£ 8 9 5 158,916 5,965 lZT,855 7,71*1+ 8,798 18,965 .2,866,182 55,226 269,521 1,21+1 669,096 8,257 212,628 5,182 282,997 5,158 257,151 2,658 151,851* 1,559 115,680 -7,2o6 2l+,965 7,508 10,897 8,171 6,585 x /26 1* ll+ 1* 5 9 9,52*1+ 7,1,1+5" 9,505- 5,ll*5 16,678 1*08,911* 5,059 110,270 1»973 62,90!* 1,208 11*6,281 2,1+56 100,296 802 21i+,l+70 1,715 15,861 6,96!* 5,597 5,589 5,895 10,61+8 15,671-20,825- 1* 5 1*7,665,792 2656,128 12,91+9,729 2892,010 590l+,856 2809,950 21+52,511+ 7922,581 2055,666 1199,608 2025,1+94 1656,571 5180,705 l / A f t e r d e d u c t i n g $69,000 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 v Banks, H.lul(c) STATEMENT OF CONDITION OF THE FEDERAL KEriEhVS BASICS ON DECEMBER 30, ( I n thousands of d o l l a r s ) New York Phila, Cleve. Kich. A t l a n t a Chicago S t . L o u i s Boston L I A B I L I T I E S Total FederaliReserve notes 214,889,061; ll+8l+,568 5,771,1*37 Depositst Member b a n k - r e s e r v e a c c t . 17,981,126 792,955 5,696,005 U . S . T r e a s u r e r - g e n e r a l acct« 831,-5l+0 70,1+1+8 197,2+82+ Foreign 2+25,859 23,11*7 l / l 8 0 , 5 2 2 Other 5l;2,056 ^5H U59,1U1 Total deDosits 19,730,581 892,061 6,533,152 Deferred a v a i l a b i l i t y i t e m s 2 , 2 U 8 , 2 0 5 231,811 1+13,1+32 Other l i a b i l i t i e s i n c l u d i n g . ' accrued dividends 22,285 , • 1,51+0 6,61+0 TOTAL LIABILITIES 1+6,92+0,135 2609,700 12,722+,.66i C a p i t a l p a i d i n '"[ .... 195,501 11,21+3 ...68,880 Surplus ( S e c t i o n 7) 1+39,823 27,557. 136,51+9 Surplus ( S e c t i o n l^b) , 27V2i5t? 3,012 7^253 Other c a p i t a l acco+ints •:. 66,378 4,556 12,566 TOTAL LIABILITIES AND CAPITAL AqSoUFTS i+'7!,663,792 2656,123; 12,949,729 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 i 2,2+89 157* 2 / 820 Commitments t o 'make i n d u s t r i a l 1690,331; 2150,135 172+9,322 12+02,89!+ 4639,058 112+5,-967 881,952 1325,779 776,715 781,1+88 " 55,165 86,1+23 2^,802+ 6o,6!+7 ll+,785 29,209 33,535 17,669 2,1914 9,757 1,629 971+ 968,52011+55,1+9!; 81+0,817 857,891; 11+0,01+3 173,6Q7 230,356 182,115 ll 40,Ol+3 , 955 1,578 2,238 1,105 2833,839 3838,223 2773,359 21+01,766 ll+,370 18,81+3 8,221 7,51!+ " 34,720 1+1,391+ 20,676 18,663 1+,1+S9 1,007 3,325 762 4,592 5,369 l+,369 3,609 Discounts and advances' Industrial loans U. S. Govt, securities .: ;. ' •Within T»tal. , 15 days" 102+,7l+2 * 12+7,02+7 1,325-V 1,365 22,615,593.2,938,261 Minn. Kans.Cy. 62a;0.19 9u9,77l D a l l a s oant'ran, 628,1,38 2649,121 2694,1+09 705,783 1+50,720. 857,597 858,858 2158,865 107,1+85 • 1+3,629 3 7 , 5 9 9 ' - hk*h3l 38,71+3 1+1+,'682 "1+9,01+2 12,621 9,015 12,621 11,900 31,793 2,290 5,601 , 1,779/ 1,880 50.1+21 333. 2853,226 ,767,631+ 1+99,113.' 916,529 910,380 2285,761 3'329,767 2 9 , 7 6 7 ^ 9 4 , 1 0 7 - 52,1+92. 129,395 91,192 179,886 129,395 - '-' 3,196 926 1,066 81+1 _82 1,825 7825,21+7 2008,631+ 1180,630- 1996,536 1630,867 5116,593 23,827 6,395 l+,29l+. 6,522 7,303 18,089 65,078 16,577 1 0 , 9 9 7 - 15,729 13,777 38,106 1,429 521 1,073 1,137 1,307 2,11+0 7,000 5,539 2,6ll+ 3,572 5.517 5,775 2392,010 590l+,036 2809,950 2432,514 7 9 2 2 , 5 8 l 2035,666 1199,608-2023,496 1656,571 5180,703 199 228 120 101 loans •'• .7,1+56' 1,61+2 77 l+oo F. R. notes outstanding 2.5,69P,;910 .1536,106 5,915,762 17u6*208 2231,175 l80l+,9l+0 11+59,691+ Collateral for^F.ft.. notes held by F.fi.Agents: Gold certificates 12,769,000 460,000 3 , 5 7 0 , 0 0 6 ' 550,000 755,000 675,000 675,000 Eligible paper '• 72,980 7,665 31+', 7657,060 - 1+,615 - U.S.Govt securities 13,550,6.00 1100,000 2,l+bOjOoq" 1200,000 1500,000 1150,000- 800,000 ; V)kl 86 61- 36 '351 ' ;580 2+969,105 1188,01+9 :„-61+2+,203 5,750 973,301+ 331+ 81 216 11+3 661,1+66 2766,393 2990,000 : 3l5»ooo 200,000 280,000 169,000 7,200 - 9,800 1300,000 950,000 2+50,000 700,000 500,000 "MATURITY DISTRIBUTION OF -LOANS AND SECURITIES 6 months 2 to 5 l t « 2 31 t o 61 t o 9 I days t o 16 t o ' to 1 year years years 60 days 90 -days 6 months 30 days 10,12+8 2+,773 27,518 11 1 23 .2+,959,47i 191,133 2 , 5 8 3 , 7 9 1 5,18l+,966 3*870,997 I-/ A f t e r - d e d u c t i n g $21|5,208,0Q0 p a r t i c i p a t i o n s of e t h e r F e d e r a l Reserve Banks* 2 / After deducting $1,669,000 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. 2150,000 1,875 1000,00 Over 5 years 2,272,730
@FedFRASER