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.•BOARD OF GOVERNORS OF THE FEDERAL REOEAVE SYSTEM (Rele£.p^sd"for P u b l i c a t i o n F r i d a y morning, F e b r u a r y 20,19^8) H.ii.l F e b r u a r y 19, I9U8 :.CEDITION OF THE FEDERAL; BESEtfVE BANKS >•« '"»•» in I M I I in mi. mi 11 > miiiui»n'fa»" • •liiiinnm •••••• Durifig t h e week fended F e b r u a r y 18 menlber bank r e s e r v e b a l a n c e s decreased, € $287,000,000* Redactions in 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 . br $5J8,000,000* i n T r e a s u r y d e ^ o ^ i t s w i t h F e d e r a l Reserve. Banks and : :,027VOdo,0Q0• inj .Treasury c a s h and a 4ecreas ^ of $2,000,000 i n 'Treasury c u r r e n c y , ' o f f s e t i n p a r t by i n c r e a s e s of $50,000,000' i n Reserve Bank c r e d i t and $i|8,000,000 i n gold tfftd&k and decreases, of $136,000,000 i n money i n c i r c u l a t i o n and $1*6,000,000 i n nonmemU^i d e p o s i t s ; and o t h e r - F e d e r a l Reserve a c c o u n t s . Excess r e s e r v e s of mexqber banks' on. February 18 were $st'imuted t o be a p p r o x i m a t e l y $680",000,000. Holdings of loans^ d i s c o u n t s and advances decreased $28*2,000,000 while h o l d i n g s bf 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 $126,000,000* The i n c r e a s e irit h o l d i n g s of Uni-ted S t a t e s iGovernment 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 oiySvboo/OOfOdn'b^nds andj $59,000*000 i*J n o t e s arid d e c r e a s e s of $110,000,000 in. b i l l s and $1^000,^000 i n c e r t i f i c a t e s ! . Changes •* ill menibjei* bank r e s e r v e b a l a n c e s and r e l a t e d lte:jh& 'during the w e e k e n d -the .ye.ar/en;ded February tl8j 19U8, 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 Febir^tary 1 8 / t, : February H „ 19US F e b r u a r y 19, I9U8S 19^7 ( I n m i l l i o n s of d o l l a r s ) U# S« ,Gc)vernmetit s e c u r i t i e s fcoans, discoun,ts and adfrahcas. Otfrer Reserve p&nk* cre&Jit; 2o,9b3 : 299 539 T o t a l Reserve iBank c r e f e GdTLd s.^acik^ Tr^asurly ^curr^ncy 21,782 22,981 u,557- .. :A •<+ . he 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 . t r e a s u r y , cash? .; ?•' Treasury; d e p o s i t s ^ w i t h [ F„ R*. Banks ftonmeniber dopps k iti and; tither F;R # ^ccounts 16,750 28,053 1,355 1,725. "1.U57-. «. - 287 136 27 538 + **' + - + +, - :126 282 205 , - 2 ,'975 - • hh 50 - 2 ,892 +2 ,211 + 1 2 U6- + \f .126 980 - ''225 - , ;989 - -653 + 185 'STATEMENT OF CONDITION, CF THE. 'TWELVE FEDERAL I(EbERV£ BANKS C0LB3NSD (In thousands of doliars) H.l;a(a) Increase or decrease since February 18, February 11, February 19, I9I18 ASSETSGold certificates Redemption fund for f • R# notes. Total gold certificate reserves Other cash Discounts arid advancejs Industrial loansU.S. Govt, securities* Bills Certificates Motes Bonds Total U«S-« Government securitiesT" T o t a l loans and s e c u r i t i e s Due from f o r e i g n banks •F# R# notes* of p 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 "" I.-..I.J-.II • 1. • •' • y > • " » • . TOTAL ASSETS 21,036,170 682,1+55 21,718,625 368,155 295,257 U.158 9,358,603 U.3UU.933 1,653,500 5,586,025 20,9l;3,06l 19U8 + 28,000 - .7,876 + 20,121; + 15,937 -282,523 .+ 1,398 -I09,8i|l - i,Uoo + 59,000 +178,QU7 19U7 +3,232,990 - 110,861 +3,122,129 + 30,^19 17,528 + 3,519 -6,262,617 r.2,806,851 +1,262,200 +li,832,635 +12.5,806 -2.97U.633 -3,018,6U2 7 9,230 + '•+ 567,750 + 599 + 98,56U 21,21+2,1476 95 133,025 3,26S,88li 32,915 lli5,529 -155,319 i;6,909,70k +592,633 + 810,0U2 211,069,669 '-iiU.679 - 262,3li8 I6,7k9,993 1,725.1^9 it20,922 1*7-8,082 19-.37U.U26 2,729,618 -287,368 -+538,82U ^ - 21,lli7 - 2li,i78 +206,131 +U96,570 + + + + + 980,337 632,932 6,686 2U3,178 597,269. UUl,7io 15,673 U6,189,386 .+ 1,1lU +589,136 + U,553 + 781,18U 197,256 UU8,189 . 27.5U3 "'' U7.330 ii6,909,70k + + + + + 6,728 8,366 88 13,676 810,0U2 50.07= - + >U,U57 +701,959 U + 5,U79 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 CAP 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 ljb) Other c a p i t a l accounts ; T0TAL LIABILITIES- Am CAPITAL ACCOUNTSR a t i o of gold c e r t i f i c a t e re'serves 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 r 1 .1.1 u.77-3 7,219 * 97 +_l,_Uoo/ +592;633 .1% 72U 25 6.9P/0 3,77U 8U8 H*U.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 18, I9U8 (In thousands of dollars) A S S E T S Total Gold certificates Redemption fund for F. R. notes Total gold certificate reserves Other cash Discounts and advances Industrial loans U, S* Govt, securitiest Bills* Certificates Notes Bonds T o t a J U;S* Government securities Boston 21,036,170 833,553 ; 682,1*55 56,162 P h i l a * ;- S i e v e . 6,ii66,318 1017,U29 1389,890 lH*,Q26 59,538 7k,883 Rich. Atlanta Chicago St.Louts. 995,826 1050,172 U2oU,Ul7 58,561 39,629 99,129 21,718,625 889,695 6,580,31*1* 1076,967 iU6U,773 1051*. 387 1089,801 U303.5U6 368,155 38,1*68 68,168 21;,19!* 38,356 21.61*5 2U.222 53,890 295,257 17,536 56,2146 28,128 22,21*5 22,608 19,005 59,035 1*,158 - - 1,151 139 1*6 2,822 9.358,603 629,123 2,21^,025 l*,3l*l*,933 292,08!; l,ol*l,836 1,653,500 111,155 396,1*80 5,586,025 375,515 1,339.1*23 20,91*3,061 11*07,877 Total lpans and securities 21,21*2,1*76 11*25,1*13 Due from foreign banks .95. 6 F.R. notes of other banks 1331025.. 5,31*3 Uncollected items 3,268,881* 251*, 581* Bank premises 32,915 1,236 Other assets 11*5,529 9,835 TOTAL ASSETS New York 668,1*85 897,209 310,359 1*16,51*9 118,109 158,521 399,010 535,532 607,785 1*69,175 1329,71*5 282,177 217,825 617,363 107,385 82,895 23!*,91*2 562,779 280,010; 793,707 Minn. Kans.Cy. 579,510 121,621; 750,117 1*6,1*08 -: 22,775 "35,363 625,918 17,878 17,695 1*1*1*. 399 8,321 5,1*1*5 Dallas SanFran, 502,186 2825,1^8 25,923 50,058 785,1*80 528,109 2875,206 12,1*11*. 15,&*2 1*1*,957 11*, 613 9,378 23,323 1*93,650 2e6,i*57 1*36,2114 1*21*,122 872,613 239,897 132,991* 202,522 196,908 39l*,i*l9 91.295 50,612 77,071 7l*,935 150,100 308,1*21 170,983 260,370 253,153 507,083 5,021,769 11*95,963 2007,811 1360,126 loi*9,939 : 2975,757 1133,263 61*1,01*6 976,177 9**9,n8 1921*,215 5,078,015 1525,21;2 2030,195 1382,780 1071,766 3031*,792 1150,958 6k6,l*9l 990,790 958,1*96 191*7,538 8 9 5 1* 13 3 2 3 1/31 3 8 18,9^0 6,729 6,238 27,71*1 Hi,518 11*,256 6,669 . i*..H*0 5,018 li,769 18,671* .659,056 228,085 350,11*1* 268,562 215,651 526,882 125,519 72,896 151,571' 137,926 278,008 8,221 1,206 - 2,1*1*1* 3,177* 1*,921 2,630 .1,555 • 3 , 0 5 6 . 1,969 793 1,707 6,651 9.960 11*. 102 Q.607 6.626 15.588 3lt,235 .7,1*17 2Q.776 a*3ko_ 2u39Q_ 1*6,909,701* 2621*,580 12,1*1*7,020 2871*.362 3908,738 2767,357 2U2U.931* 7957,193 1937,251* 1181,81*5 195l*,37-l 1652,361* 5179,686 l / A f t e r deducting-.$61;, 000 participation's of' other Federal'Reserve Banks., H.U.l(o) L I A B I L I T I E S STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 18, I9U8 " ( I n thousands of d o l l a r s ) New York P hila. Cleve. Rich, Atlanta Chicago St.Louis Total Boston 2 4 , 0 6 9 , 6 6 9 1451,405 5i528,155 1644,588 2086,51*9 1672,071 1554,127 4555,454 1109,051 Federal Reserve notes Deposits: Member b^nk-reserve a c c t . 16,749,995 751,414 5,182,958 820,969 1251,418 U.S.Treasurer-general acct J.,725,^29 153,785 395,726 135,062 190,865 Foreign 420,922 2 5 , 2 2 1 1/170,851 29,768 55,810 Other 478,082 2 , 5 1 1 ""413,272 1,527 9,558 Total d e p o s i t s 19.374,1+26 910,951 6,162,787 985,526 1485,649 Deferred a v a i l a b i l i t y items 2 , 7 2 9 , 6 1 8 235,455 528,104 185,550 268,855 Other l i a b i l i t i e s including accrued dividends 831 5,058 861 1,565 15,673 TOTAL LIABILITIES 46,189,586 2578*600 12,224,062 2816,505 5842,598 Capital paid in 197,256 11,295 69,001 14,505 18,907 Surplus (Section 7) 448,189 28,117 158,596 55,550 42,175 Surplus (Section 15b) 27,545 5,011 7,519 4,489 1,006 Other capital accounts - '47,350. 5,559 8,042 5,715 4,254 Minn. Kans.Cy. 617,051 952,505 Dallas SanFran. 600,011 2558,968 806,777 79,997 12,495 458 833,951 853,986 2892,562 686,978 482,129 865,487 899,727 224,075 205,472 409,695 115,682 65,142 129,054 126,175 719,339 95,918 18,008 2 S 686 743,176 2525,628 74,806 314,145 15,067 49,980 957 2,611 620,350 47,404 13,250 5,994 418,995 51,814 9,188 2,152 797,257 54,587 12,862 781 2151,752 155,524 52,442 55,615 2555,115 24o,42l 625 2,407 ' 605 508 567 742 655 1,293 2730,837 2394,208 7859,898 1910,516"1162,810 1927,611 1626,546 5115,795 6,566 7,686 25,932 6,477 4,352 6,652 7,571 18,464 21,210 19,110 66,217 16,972 11,555 16,148 14,111 58,952 5,549 762 1,429 521 1,075 1,137 1.307 2,140 3,595 3,168 5,667 2,968 2,577 2,825 2,829 4,555 TOTAL LIABILITIES AKDF CAPITAL ACCOUNTS 46,909,704;2624,580 12,1447,020 2874,562 5903,738 2767,357 2424,934 7957,195 1957,254 1181,845 1954,571 1652,564 5179,686 Contingent l i a b i l i t y on b i l l s purchased 2 for foreign correspondents 162 167 420 /i,527 387 439 254 196 649 172 4,775 119 501 Commitments to make industrial loans 5,750 665 1,206 157 4oo 544 580 157 7,219 F. R. notes outstanding 25,011,567 1510,241 5,772.975 1705,545 2172,607 1725,158 l4oo,954 4665,981 1155,265 656,640 957,487 650,170 2680,566 Collateral for F.R. notes held by-F.R.Agents: Gold certificates 12,499,000 440,000 5,570,000 550,000 755,000 625,000 675,000 2790,000 33-5,000 200,000 280,000 169,000 2150,000 Eligible paper 10,000 15,870 17,452 — 16,000 -— 12,950 2,150 11,725 95,580 9,255 U.S.Govt, securities 700,000 450,000 2 , 4 0 0 , 0 0 0 1200,000 1500,000 1150,000 750,000 1900,000 950,000 500,000 1000,000 1 5 , 6 0 0 , 0 0 0 1100,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES 1 to 2 2 to 5 Over Tiithin 16 t o 31 t o 61 t o 9I days t o 6 months 16 t o years years 5 years Total 15 days 50 days 60 days 90 days 6 months t o 1 year Discounts and advances 152,085 24,695 59,789 58,600 70 20 295,257 I n d u s t r i a l loans 12 5,975 - 21 25 53 50 4,156 19 U.S. Govt, s e c u r i t i e s 20,945,061 2,750,785 1,986,597 5,256,599 1,946,562 5,576,776 2,517,867 417,759 4 , 9 1 0 , 5 1 6 1 / After deducting $249,900,000 p a r t i c i p a t i o n s of other Federal Reserve Banks, $ 5 , 2 4 6 , 0 0 0 p a r t i c i p a t i o n s of other Federal Reserve Banks, 8 / After deducting
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