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BOARD OF GOVERNORS OF THE FSDBRAL RESERVE SYSTEM ( R e l e a s e d f o r P u b l i c a t i o n F r i d a y m o r n i n g , F e b r u a r y 28? n o t %k.l earlier) February 27, I9U7 CONDITION OF THB FEDERAL RSSBRVB BANKS D u r i n g t h e week e n d e d F e b r u a r y 2 6 , member b a n k 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 1 , 0 0 0 , 0 0 0 t A d d i t i o n s t o member b a n k r e s e r v e s a r o s e from d e c r e a s e s of $ 9 ^ 3 * 0 0 0 , 0 0 0 i n T r e a s u r y c a s h and $ 1 ^ , 0 0 0 , 0 0 0 i n money i n c i r c u l a t i o n and an i n c r e a s e of $ 8 7 # 0 0 0 , 0 0 0 i n k e s e r v o Bank c r e d i t , o f f s e t i n p a r t b y i n c r e a s e s of $ 5 7 0 , 0 0 0 , 0 0 0 i n nonmember d e p o s i t s and o t h e r F e d e r a l R e s e r v e a c c o u n t s and $11;, 0 0 0 , 0 0 0 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 R e s e r v e Banks and a d e c r e a s e of 0l|ij3,000,G00 i n g o l d s t o c k * E x c e s s r e s e r v e s of member b a n k s on F e b r u a r y 2 6 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 $ 6 9 0 , 0 0 0 , 0 0 0 * H o l d i n g s of l o a n s , d i s c o u n t s a n d a d v a n c e s i n c r e a s e d $ 5 0 , 0 0 0 , 0 0 0 and of U n i t e d S t a t e s Government s e c u r i t i e s $ 1 2 6 , 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 U n i t e d 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 0 5 ^ 0 0 0 , 0 0 0 i n b i l l s , $ 3 8 , 0 0 0 , 0 0 0 i n n o t e s and $ 3 ^ , 0 0 0 , 0 0 0 i n c e r t i f i c a t e s . Changes i n member b a n k r e s e r v e b a l a n c e s and r e l a t e d i t e m s d u r i n g t h e week and t h e y e a r ended F e b r u a r y 2 6 , 19-U7# were as f o l l o w s j I n c r e a s e or d e c r e a s e since Feb, 2 6 , F^b„ 1917 19, Feb, 19^7 27, 19^6 (In millions of dollars) + 126 + 50 - 88 +1,072 + 11 + 2 214,761 20,322 14/356 + - hks + 1,031; + 89 + 109 15,781 + - 11 il + + 226 32i| 1,581 - 9u3 - 936 1,5)42 + ik + 570 U, S. Government securities Loans, discounts and advances Oth,;r Reserve Bank credit 2i 4 ,0Ul Total Reserve Bank credit Gold stock Treasury currency L-ember bank reserve balances .-.oney in circulation treasury cash Treasury deposits with i['# R, Banks honmember deposits and other FfR,accounts 393 3:; 5 2 8 , cityi 87 ...» +l/3ii6 + 122 H.U.l(a) STATEMENT OF CONDITION OF- THE TWELVE FEDERAL RESERVE *BANKS COMBINED (In thousands of dollars) I n c r e a s e or d e c r e a s e since February 26, February I 9 , February 27, I9I7 19U7 : 19^6 A S S E T S Gold c e r t i f i c a t e s Redemption fund for F. R, n o t e s T o t a l 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, securities} Bills Certificates Motes Bonds T o t a l IT. S # Government securities T o t a l l o a n s and 18,290,13.0 79^377 19,085,057 337,710 592,2lp pp'p 15,67b,115 7,135,78k 2129,300 + + + 1 op securities hdMk + + + '53,895 3);, 000 38,000 2,500,6711 5c,^-.o9 1*9,010 1+6,562,902 + 555 15,805 12, nh 595 _., + 125PP5 +1,071,55U 175,71k ~- ~ i2l,2lS +1,023,615 + 12>51Q +1,036,125 +2,568,883 - 560,1+27 - 9C3,Uoo ~ 195,502 102 TOTAL ASSETS do * + + Due from f o r e i g n b a n k s F . R. n o t e s of o t h e r b a n k s Uncollected items Bank p r e m i s e s Other a s s e t s PCI _ 753,390 P. ,oh3,589 !i87,ooo . 1,361 2,5U7 - 200,1+60 hi + 2,0lp + a 65,21,0 + 1 . ,085,155 - 8 25,781 Zi07,U66 988 16,685 •+ + 2.,ii67,U57 L I A B I L I T I E S Federal Reserve notes Deposits j Member bank - r e s e r v e a c c o u n t U.S.Treasurer - general account Foreign Othe r 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 A C C Q.U N T 3 Capital paid in S u r p l u s ( S e c t i o n 7) Surplus (Section ljb) Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS R a t i o of g o l d 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 C o n t i n g e n t l i a b i l i t y on b i l l s for foreign correspondents Commitments t o make i n d u s t r i a l 4,310,008 15,781,157 2,57P785 283,257 752,983 TQ - 7 ] ? ]RP + + + + 11,501 13,Ii.2jL| 71,021 198,079 + 59a,025 ! 7 A r>hl • •12,382 >P, 862, R13 + '•-> J / > --' - 111,667 > 1,262> + 1+61,611 190,708 c 180 J 27,14 55 35C-05 IP,362,902 185,701+ - , v -' ,J 7 + + ) v r-jcr; 1,14+9 U63,21|0 m(S/o + 225,&96 + 1,, 5U5, 628 295,595 510,925 2736,856 + 1;05,892 + + + + + + + 1,688 2 ;P 8 0 , l l i 0 10,260 '81,1*68 27 Wi58 2;,14.67,1+57 M purchased loans S,8Ul + 2914 8,189 + 122 8,81+1 6, 8I42 H.14.1(b) STATEMENT OF CONDITION OF THE FEDERAL "RESERVE BANKS- ON"-FEBRUARY 2<$, I9U7 (In thousands of dollars) s sa T. s Total Gold c e r t i f i c a t e s Redemption fund l8,2go,l80 '763,136 5,973,520 79^,877 ' 5A,822 120,935 Phi la. Cleve. 862,515 I3l0,u67 Rich. Atlanta Chicago St. Louis 967,B07 9U3,3U5 313U,U07 Minn. Kans'.Cy. * Dallas SanFran. 600,216 3U4,632 612,630 A6,163 21,235 33,773 995,792 5279,855 605,379 30,060. 1+6,1+32 17,139 565,865 8,761+ 646,463 12,555 u56,833 2390,592 59,770 76,670 6o,Iic6 i;5,Au7 1A5,U28 2lf,767 105,383 ,,.-, Id c e r t i f i c a t e reserves ' othir each 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 * B ills . Certificates Notes B °nds 1 ot.al New York for E. R... notes i-!-;-" 1 Boston 19,085,057 557,710 817,958 29,102 5,999,^55 6o,khk 39 2 ,21|9 99!+ 26,525 21 136,836 — 922,285 1587,157 IO48,293 21,1+1+0 29,659 22,606 19,521 973 21,572 25,1+73 6,601; 1+4,810 27,998 31,795 7,515 755,490 2.895,507 670,696 1+05,HO 631,165 15,.67^,115 926,102 3,726,311 H l l 4 , l 3 5 1569O19 911,600 7085,734 U29,500 755,590 484,998 28,Q75 50,8lt9 1,338,1+6U 109,836 192,755 143,257 372,513 26,U81 22,255 1*6,1+73 39,056 550. 1+81 658,865 31,693 38,167 55,618 66,981 921,133 355,12u 209,304 3U2,866 53,03.1 23,003 12,517 20,1+814 96,576 Uo, 373 21,966 35,9U8 u8l,6oo 21+95,975 13,834 U5,6U5 10,37U 52,c 519,565 1699,686 321,046 19,130 55,660 697,555 ' 141,675 75,152 U. 3. Government securities Total loans and securities Due from f o r e i g n banks F . R . n o t e s of o t h e r banks Uncollected items 24,045,589 i 4 9 0 , 9 2 4 5,867,86u 1751,925 2113,430 1427,811 1189,51I1 5963,21+7 1119,206 649,150 1080,465 393,249 2512,026 24,456,832 1517,470 6,004,750 1752,1*19 2135,002 11+55,284 1196,118 4013,057 H u 7 , 2 0 4 680,925 1087,976 903,623 251+5,001+ 102 121,21+8 6 2,875 l / 33 15,866 8 1+,1+1+3 9 6,650 5 28,785 4 111,909 Hj. 10,985 2,5oo,674 171,599 u75,005 144,586 244,646 214,391 I72,2'9u lt35,69i 4 7,756 3 14,823 h 5,896 5 4,59© 9 15,638 117,674. 65,245 134,785 110,199 220,559 Bank premises 52,269 1,287 8,1+1+1 3,H|6. 5,840 2,672 1,519 3,0>+3' 2,003 1,235 2,515 792 1,776 other assets 1+9,010 , 3,311+ il,8i6 3,043 1+,7H 2,927^ 2,746 6,552 3^065 1,578 2^278 _J1£78 ^,_399 TOTAL ASSETS 46,562,902 251+3,609 12,571,310 2851,375 38il,67u 2772,961 21+11,1+1+2 7795,609 19^1,252 1126,233 1892,452 1516,925 5,329,555 l/ After deducting- $69,000 participations of other Federal Reserve Banks. H.l+.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE'BANKS ON FEBRUARY 2 6 , I9I+7 ( I n thousands of d o l l a r s ) L I A B I L I T I E S Total Boston Federal Ifcserve n o t e s 2l+,310,008 li+i+9,853 Deposits: Member bank-reserve a c c t . 15,781,157 703,006 U . S . T r e a s u r e r - g e n e r a l a c c t . 2 , 3 7 1 , 7 8 5 153,685 Foreign 1+85,257 30,630 1,960 Other 732,983 Total deposits 19,371,182 889,281 Deferred a v a i l a b i l i t y items 2,176,21+1 159,292 Other l i a b i l i t i e s i n c l u d i n g accrued d i v i d e n d s 12,382 709 TOTAL LIABILITIES Capital paid in Surplus (Section 7) Surplus (section 13b) Other c a p i t a l accounts TOTAL LIABILITIES ArD New York Phila. Cleve. Rich. A t l a n t a Chicago S t . L o u i s 5,5l+5,ll+8 l662,l+5l+ 2082,53^ 1716,590 ll+01,9l+5 1+507,181 1091,1+1+5 l+,92l+,566 78!+,525 l i 6 i , 5 7 0 693,71+6 181,718 236,ll+9 1/162,321 38,1+25 1+1+iHS 61+9,768 2,214+ 7 609 6,1+30,1+01 1006,-912 ild^M^ 376,895 125,089 2ll+,6l5 . 3,21+9 7cO 1,176 712,ii+3 98,69!+ 23..2L+5 1,933 836,015 185,020 730,1+1+3 62,1+82 19,1+50 1*35? 813,732 166,015 2309,91+0 1+39,617 61+,5l6 6,153 2820.226 370,219 591 5l+l 2,527 Minn. Kans.Cy. 587,930 910,11+2 621,057 1+03,837 69,801 50,978 16,603 11,860 6,55!+. 2,61+1 7ilj.,ci5 1+69,316 109,716 50,391+ 1+90 366 757,61+6 60,693 16,603 632 835,571+ 120,872 1+62 D a l l a s SanFran. 582,227 2772,559 725,006 19l+7,Ul8 66,051+ 258,168 15,655 1+1,831 956 51,176 807,671 2298,593 102,26-7 195,81+7 501 1,010 1+5,869,813 21+99,135 12,355,693 2795,215 371+7,771 2738,216 2382,233 7700,153 1915,666 1108,006 1867,050 11+92,666 5268,009 190,708 11,162 67,218 ll+,151 15,620 8,032 7*252 22,738 6,276 1+,179" 6,299 7,029 17,752 1+39,823 27,557 136,51+9 3^,720 1+1,391+ 20,676 18,663 65.078 16,577 10,997 15.729 13,777 38,106 2|,l+55 3,012 7,253 k,k£>9 1,007 3.325 762 1,1+29 521 1,073 1,137 1,307 2,11+0 35,103 2,71+3 5,097 2,800 2,882 2,712 2,532 1+,211 2,212 1,983 2,237 2,ll+6 3,5l+8 1+6,562,902 251+5,609 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 8,81+1 566 Commitments t o make i n d u s t r i a l loan s ,8,189 — F . R. n o t e s o u t s t a n d i n g 25,015,31+6 il+88,065 C o l l a t e r a l f o r F . R. n o t e s h e l d by F . •{. Agents: Gold C e r t i f i c a t e s 10,653,000 i+55,000 E l i g i b l e paper 216,825 13,090 U. S. Govt, s e c u r i t i e s 15,327,623 1100,000 CAPITAL ACCOUNTS 12,57.1,810 2851,375 3811,671+ 2772,961 21+11,1+1^2 7793,609 191+1,252 1126,238 1892,1+52 1516,925 5329,555 ,• '2/2,829 716 822 1+33 362 1,202 310 221 310 292 778 — 1,238 1,596 73 — 330 l+,225 5,709,302 1703,715 2133,571+ 1762,657 ll+LJ+,212 1+595,976 1131,031 — 602,1+97 1+50 — 177 931,565 608,331 290l+,l+21 3,1+70,000 525,000 61+5,000 625,000 9k,710 8,01+5 —19,015 2,1+00,000 1200,000 1500..0O0 1160,000 l3l+,000 28,500 1+25,000 280,000 2,900 700,000 590,000 1710,000 ,, — — 900,000 2900,000 300,0-00 23,385 91+2,623 169,000 1700,000 — 21,330 500,000 1600,000 MATURITY PICT 31. BUT ION OF L0..R-S A I'D SECURITIES 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 Total 392,21+9 99^ 2l+,Ol+3,589 Within 15 days 21+8,870 921 k, 162,755 16 t o 31 to 6l t o 91 days t o 6 months l.to 2 2 to 5 30 days oO days 90 days 6 months to I year years years 28,ll+l+ lll+,520 715 || ^ 5 ' ll+ . • 6 . 8 32 2,1+22,266 5,692,675 A+,838,675 1,550,1+31 l+,327.997 32u,l+00 ll+8,350 1/ A f t e r d e d u c t i n g $322,582,000 p a r t i c i p a t i o n s of o t h o r Federal .ieservo Banks. 2 / After deducting $6,012,000 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 deserve Banks. Over 5 years 530,01+0