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BOciHD 0? GOVERNORS OF TiS FEDERAL RRSBRVS SYSTEM (Released f o r P u b l i c a t i o n F r i d a y morning, February 27,19^8) H.U.1 February 2 6 , 19^8 CONDITION OF TUB FEDERAL RSSERVB BARKS During the week ended February 25 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 $1;9,0Q0,000. 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 $69,000,000 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 $9,000,000 i n T r e a s u r y c a s h and an i n c r e a s e of $U7> 000,000 i n gold s t o c k , o f f s e t i n p a r t by a d e c r e a s e of $75*000*000 i n ; R e s e r v e Bank c r e d i t * Excess r e s e r v e s of member banks on February 25 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 $850,000,000* Holdings of l o a n s , d i s c o u n t s and" advances decreased Slo,000,000^«nd 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 $ 9 1 , 0 0 0 , 0 0 0 . 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 G o v e r n m e n t . 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 $81,000,000 i n bonds, $68,000,000 i n n o t e s , and $i7,000,0p|) i n c e r t i f i c a t e s and a d e c r e a s e of $76,000,000 i n b i l l 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 d u r i n g t h e week and the y e a r ended February 2 5 , I9ij8, were as follows- • I n c r e a s e or d e c r e a s e since February 2 5 , February 18, 19u8 " -^",n ' ' February 2 6 , 19?J8 19U7 r " ' " (In millions of dollars) U. S. Government securities Loans, discounts and advances Other Reserve Bank credit 21,0314 233 390 + - 91 16 1U9 + 3,oio Total Reserve Bank credit Gold stock Treasury currency 21,70? 23,023 - -. 75 hi _ 3,05k Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R* Banks i\ionmember deposits and other F.R. accounts 16,799 2B.05U l,;^o 1,656 1,158 + U,557 ' m, 110 65 ,.;.+ 2,706 + 1 - + h3 + •f - 1 9 69 + 1 .- • 1,018 208 55 716 3SU H.l*.l(a) STATEMENT 'OP CONDITION OF THE TY-ELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) • Increase or decrease since February 2 5 , I9lj8 ASSETS F e b r u a r y 18, 19U8 ' February 2 6 , 19U7 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 Industrial loans^ U.S. Govt, s e c u r i t i e s : Bills Certificates ftotes Bonds T o t a l U.S. Government s e c u r i t i e s "~ *" '£l,096,170 680,01*9 2.1,776,2 , 19 367,^80 279, & 9 k, 3(53 +57,591* :' - •, 275 -16; 108+ 195 •+2,805,990 - Ill*,828 +2,691,162 .+ 30,170 •'•- 113,100 3,359 , 9,282,853 1*, 362,083 .1,721,350 5,667,050 -75.750 +17,150 •+68,3,50. +8-1,025 ' -6,392,262 -2,823,701 +1,292,550 +1*, 913,660 21,033,836 +9P,775 s -3,009,753 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. n o t e s of o t h e r b^nks U n c o l l e c t e d items Bank premises Other a s s e t s 2.1,317,338 95 126,905 2,796,358 32,891 150,232 +71*1,862' - 6,120 -1*72,526 21* + U.703 •-3,119,1491* 7 + 5,657 + 295,681* '. + • 622 + 101,222 1*6,567,918 -31*1,786 + 5,016 21*, 065,1*95 >: 16,799,290 1,655,975 hke,161 1*52,355 19,356,381 2,iio6,37U - k,nk - .21*1*, 513 +1*9,297 -'69,1*51* '+ 27,839 - 25,727 -..'18,01*5 -323,21*1*' 15,61*7 1*5,81*3.897 . 26 -315,1489 TOTAL ASSETS +60,OOCr -,2,406 : «p «k L I A 5 i l / l T / I E S^ F e d e r a l Reserve n o t e s Deposits: Member bank - - r e s e r v e a c c o u n t U . S . T r e a s u r e r - ^ g e n e r a l account Foreign Other Total deoosits"' Deferred a v a i l a b i l i t y Iterjs ;; 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 U N T; S Capital 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 LIABILHIES AND, C A? If A L ACCOUNTS Ratio of gold certificate reserves to deposit and P.R# note liabilities combinedContingent liability ok bills purchased for foreign correspondents Commitments to m&ke industrial loans f ,+l„018,133 - 715,810 - ' 36,1*96 - 280,628 11*, 801 + 230,133 - 3,265 25,916 i 197,381* U*8,189 27,51*3 50,905 1*6,567,916 + 128 _ _ . '.- . + • 3,575 -311,786 6.5% 50.2^ It, 987 7,910 + 6,676 - + • 8,366 .'" + 88 "+ 15,802 ! + . 5,016 + 211*. 691: >,85l* 279 iUuJCfe). STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAHKS ON FEBRUARY 2% I9I48 ( I n thousands of d o l l a r s ) 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, securities: ; Bills Certificates Hotes Bonds Total U«S« Government securities Total loans and securities Due from foreign banks F^R^notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS 21,096,170 680,oli9 Boit&n Hew York -Phila* *Cleve„. Rich* Atlanta Chicago StJLouis 863,"3i59 6,527,757 1060,280 I390,2ii0 1017,I8I4 ioi*3,307 14138,313 56,olr5 113,525 59,333; 714,735 57,660 59,500 98,967 21,776,219 919,^0^ .6,61*1,282 1119,613 lU61i,975 I07li,8i;li 1082,807 i|237,2B0 367,830 279,lli9 14,353 38,^03 • 22^011 - - 9,282,853 621*,032 1;,362,Q83 293,236 1,721,850 115,750 5,667,050^380,962 21,033^36; 11413,980 67,19*4 61,836 - 2,225,861 1,0145,9*49 1412,869 1,358,856 25,01*9 18,228 909 35,U68 29,752 20U 663,073 889,9^7 3H,58l4 J4l8,i93 122,992 165,071* l4Ql4,79? 5^3,300 22,721* 2o,813 1;6 2l*,759 22,915 3,19*4 5li,0?2 51,295 Minn. Kans,Cy # fyilhk2 l*2l*,o25 752*li9l li6,36ti 22,756 35,328 637,806 I M ^ S l 787,819 18,223 10,255 602,866 1*65,378 1318,981 l;93,^li 283,291 218,685 619,799 2 ^ 0 , 8 ^ m,82Ji 86,321 2UU,65U 95,o68 368,ol*l 28I4,106 805,220 312,895 8,735 5,095 13,781* 10,153 D a l l a s SanFran # 1496,3002791,172 25,885 1+9,951 522,185 28li 1,1^23 15,356 11,718 lili,113 15,078 28li,138 1*32,683 1*20,6^0 133,519 203,32i 197,685 52,7014 80,257 78,033 173,1463 261*,U7 256,825 861,560 395,977 156,30U 51l4,J458 5,01*3,535 1502,^6^2016,5114 1366,022 10514,1490 2988,6514 11142,1451 61*3,821* 980,ii08 953,233 1928,279 21,317,338 11*35,99* 95J 6 126,905; 5,360 2,796,358= 236,112 32,89r 1,231 150,232 5,105,371 1521,583 20^6,1*70 1386,881 1080,599 3039,9*49 1152,706 ^ 8 , 9 1 9 990,561 9614,951 19^3,357 l/jl 8 9 5 14 13 3 2 3 3 8 2^,l9k 6,036 6,935 25,057 13,5144 13,83l4 8,112 3,286 6,122 ^^817 13,608 593,118 189,618 261,025 209,633 177,855 U9k*930 108,271 62,858 .1141,799 120,058 201,085 8,221 3,177 14,921 * 2,621* 1,5514 3,350 1,969 1,206 29Uhh 793 1,701 10,155 35,721 10,21*1 11*,51*9 9,951* 7,589 21,335 8,572 U,527 6,872 6,7U3 13,97U 146,567,918 261*6,662 12,1*71,132 2875,325 38314,350 2731,722 2388,711 7861*,!*63 1935,662 1176,311* 19^9^014 16314,906 5059,267 1 / A f t e r deducting $6i±,000 p a r t i c i p a t i o n s of other Federal Reserve Banks* H.li.l(c) L I A B I L I T I E S STATEMENT OF CONDITION OF THE FEDERAL REoERVE BANKS ON FEBRUARY 25, I9U8 (In thousands of d o l l a r s ) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas SanFran. 2U,o65,!+95 11*39.116 5.552,555 1&5.790 2088,536 1666,779 1551,221; 14555,593 1105.U25 615,985 950,700 598,21*7 2555,91*7 Federal Reserve notes Depositst Member bank-reserve a c c t . , 16,799,290 752,lil9 U.S.Treasurer-general acct, - 1,655., 975 181,702 Foreign 1+1+8*761 23,725 Other 1*52,355 2,679 Total deposits 19.556,581 91*0,525 Deferred a v a i l a b i l i t y items '2.^06,371* 219,919 Other l i a b i l i t i e s including accrued dividends 81+6 15,61+7 TOTAL LIABILITIES 1+5,81*3,897 2600,1+06 Capital paid i n 197,581+ 11,29!; Surplus (Section 7) 1+1+8,189 28,117 Surplus (Section 13b) 27,51+5 5,011 Other capital accounts 50.905 5.831+ TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1+6,567,918 261+6,662 Contingent l i a b i l i t y oh b i l l s purchased for foreign correspondents 1*,987 511* Commitments t o make i n d u s t r i a l 1 oans 7,910F. R. notes outstanding*" 21+.957,859. 1507,652 : -Collateral for F. h. notes held by F.R. Agentst < Gold c e r t i f i c a t e s 12,1+99,000 1+1+ 0,000 Eligible paper 62,355 13,078 U.S.Govt, s e c u r i t i e s 13,600,000 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 279,11+9 1**555 21,055,856 5.25U,81Ii 1+08,251; 1/I93,2lt8 "" 582,719 6,259,055 1+71,61+1+ 810,980 1251,089 71*0,127 7l+l+,2l+5 25^5,068 lii7,728 172,580 85,116 81,550 2oi+,220 50,1*16 5!+, 51*6 18,1+00 15,595 51.068 1,550 8,610 7,961 1,056 2,178 990,1*71* 11*1*6,825 851,601+ 81+2,021+ 2802,531; 179,791* 250,816 175,758 163,871 1+05,980 658,068 1*25,1+09 820,01+6 811*,0lt9 20l+l+,978 50,605 50,155 1*1,855 70,871* 161,558 15,518 9,588 13,11*2 12,767 55,11*8 7,087 2,266 576 55^688 185 709,276 185,213 8/5>228 898,266 2275,372 93,165 55,14-61 115,891 111,712 182,565 956 1,691 683 2,556 651* 818 687 1,1+00 l*,5Ql* _2L5_ ML 12,2i;7,338 2816,991+ 3767,668 269l+,959 2357,802 7766,663 1908,520 1157,159 1922,391* 1608,912 1*995,082 69,011 ll+,52l 18,907 8,572 7,695 2li,018 6,1+80 1+.355 6,682 7,583 18,1+70 158,596 55,550 1+2,175 21,210 19,110 66,217 16,972 11,233 16,11+8 ll+,lll 38,952 5,51*9 762 l,i+29 521 7,519 1+.1+89 1,006 1,075 1,157 1,307 2,1^0 8.868 3.Q71 L.«5Q6 3.832 3.3lili 6.136 3.16Q g,l*96 5,Oli3 2,995 kJ£3 12,1*71,132 2875,325 5851*.550 2731,722 2388,711 7861+,l+63 1935,662 1176,51!* 191*9,1*01+ l65l*,906 5059,267 2/1,596 1+oli li59 20l+ 678 179 125 175 1,656 908 1+00 580 155 51+1* 5 , 7 6 6 , 5 2 6 1698,629 2 1 7 0 , ^ 6 1720,801 1398,607 1+656,1+25 1150,811+ 655,276 5,750 951*.688 — 157 627,721; 2670,271 315,000 200,000 5,150 1,550 950,000 1+50,000 280,000 5,190 700,000 169,000 2150,000 2,600 500,000 1000,000 2 to 5 years Over 5 years 3,570,000 11+,350 550,000 6,71+2 21+1+ 735,ooo 625,000 13,715 2,1;00,000 1200,000 1500,000 1150,000 675,000 2790,000 750,000 1900,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES 6 months 91 days to 16 t o 31 t o 61 t o Within to 1 year 90 days 15 days 6 months 30 days 60 days 11+2,261+ 31,81+0 53,755 51,179 95 20 21 1*,105 25 169 1* 3,01+2,297 2,071+, 51+7 5,555,776 2,811,757 1,921,012 5,01+2,297 2,07l+,5l+7 2,1;1;8,867 l / After deducting $255,3^0,000 p a r t i c i p a t i o n s of other Federal Reserve 5 / After deducting $5,591,000 p a r t i c i p a t i o n s of other Federal Reserve 1 to 2 years 12 Banks, Banks. 170 19 1*17,759 l*.96i*,0l+l 1+59
@FedFRASER