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BOARD OF; GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, July 25; not earlier) July 2k, H.li.l 19U7 CONDITION OF TIE FBDBRi^L RESERVE BANKS During the week ended July 23, member bank reserve balances decreased ^92*000,000, Reductions in;member bank reserves arose from a decrease of $155*000,000 in Reserve Bank credit and an increase of 1183*000,000 in Treasury deposits with Federal Reserve Banks, offset in part by an increase of 033*000,000 in gold stock and decreases of $80,000,000 in money in circulation and $132,Q00,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on July 23 were estimated to be approximately £700,000,000. Holdings of loans, discounts and advance? increased $19,000,000 while holdings of United States Government securities decreased $58,000,000. The decrease in holdings of United States Government securities reflects a decrease of $78,000;000 in certificates and an increase of ^20,000,000 in bills. Changes in member bank reserve'balances and related items during the week and the year ended July 23, I9li7* were as*follows: Increase or decrease since July 23, 19U7 July 16, 19U7 July 21*f 19^6 (In millions of dollars) U, S. Government securities Loans, discounts 'and advances Other Reserve;Bank credit 21,700 120' Total Reserve Bank credit ; Gold stock Treasury currency 22,093 S1,U67 273 U,55o Member bank reserve balances 16,2UU Money in circulation 28,11*5 Treasury cash 1,330 Treasury deposits with F#R, Banks 939 Nonmember deposits and other F.R,accounts i,ii5l - 5'8 + 19 - 116 -1,952 - 100 - em _ 155 " + 33 --- -2>136 +1,198 + 11 _ + - + 92 80" 1 183 132 3.67 •^ U2 - 933 + 2.65 - 585 E.U.l(a) STATEMENT- 0? COIDYflCm OF THE TWELVE FEDERAL REoERVE BANKS COMBINED ( I n thousands of d o l l a r s ) I n c r e a s e or decrease since J u l y 16, J u l y 2-h, 191*6 hhl July 25, l<&7 ASSETS 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 I n d u s t r i a l loans Acceptances purchased U. S # Govt, s e c u r i t i e s : Bills Certificates Notes Bonds Total U, S« Government _ _ _ _ _ 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 banks Uncollected items Bank premises Other a s s e t s TOTAL ASSETS 19,500,179 723,670 + 25,000 1 +2,165,970 -.: 1*9,551 20,223,81:9 272,963 118,501 1,730 + 2lt,999 + 19,1*65 + 19,11*8 i — +2,'116,1+19 27,50)+ 100,699 + 617 38,161* 1^,06^,132 6,51*1,266 - 369,300 725,690 + 20,1*07 -'78,000 ' - — -~, 1226,300 - ' 29,600' 21,700,388 - 57,593 -1,951,237 21,820,619 102 126,330 2,369,5.02 : 31,91(9 ' 52,110 - 38,1*1*6. _.. + 516 -1*98,11*1* . + 1 + 1,033 -2,089,1*83 hk, 897, U2U -U90,5714 + -.163,1481* 21;, 031,61*7 - 68,662 - • 101,536 l6,2hk,3hk 939,169 337,801 1*80,551* 18,001,868 2,396,998 - 91,878 +183,169 -117,1*75 - 16,181 + : 367,052 + ' 265,1*1*8 - 551*, 81*6 99,381 21,727 .+ 221,501 ll,7l*9 hli, 192,262 + 9l*3 * -1492,01*3,, •+ I92,ii82 1+39,823 27,1*55 , 1*5,1*02 )41*, 897,1*21* + '360,871 -1J331*,1*66 + 19 6,795 17l*,886 968 5,090 + 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 bank - 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 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 13b) Other c a p i t a l accounts TOTAL LIABILITIES AMD 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 - 1+2,365 -381*961 113 — — + 1,336 -1*90,571* 1*8.$ U,753 6,909 + ' 1,113 99,301 + + + 8,705 81,1*68 27 26,017 +163,1*81* ,2fo I 5.2// 301* 2 + 4,753 1,1*51 t K.U.l(b) STATEMENT'-OF CONDITION OF THE P&DBRAL RESERVE "BANKS ON JULY 2 3 , I947 ( I n thousands of d o l l a ' r s ) S S Total Gold c e r t i f i c a t e s Redemption fund for F, R. notes Total gold c e r t i f i c a t e reserves Other cash Discounts and advances Industrial loans U. S. Govt, securities: Bills Certificates Notes Bonds T o t a l U.S.Govemment se curities T o t a l 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 Bank premises Other a s s e t s TOTAL ASSETS 19,500,179 Boston New York 719.839- 6,177,668 723,670 -53,935 118,339 20,223,849 773.774 6,596,007 272,963 118,501 1,730 14,064,132 6,541,266 369,300 725,690 31,1 11,' 962,545 428,059 24,167 47,489 Phila. Cleve. Rich. 812,2301143,48a 905.539 60,297 75,208 53,632 872,527 1218,772 959.171 Atlanta Chicago S t . L o u i s 878,219 3988,999 2*3,562 340,822 583.104 90,657 45,407 21,167 34,166 598,862 16,444 9,943 361,989 6,869 738 617,270 68.4,457 353,752 19,972 39,2ii5 447,489 185,455 10,470 2o,574 734,910 552,505 1312,225 315,323 309,353 609,434 17,802 17,465 34,407 34,932 34,320 67,611 22,985 16,259 12,514 13,876 2 , 8 8 5 , 2 9 1 1149,590 1453,656 l , 7 2 8 , 6 o 2 429,181 648,935 97,597 24,230 36,637 191,782 47,613 71,993 967,694 397,619 22,449 44,113 812,326 2100,942 329,li98 805,965 18,602 45,502 36,554 89,414 15,321 8,830 l,72i| D a l l a s SanFran. 553.455 9 2 1 , 5 8 1 4079,656 37,772 21,064 5,387 8,209 47,475 17,750 Minn. Rans.Cy. 8,434 7,132 4 5 4 , 6 9 3 2642,127 "24,196 103,224 478,389 27U5,351 11,03 5 3,474 41,600 15,110 21,700,338 14:62,260 4,903,362 1650,614 2211,223 1431,875 1197,480 3041,823 1097,426 663,988 1103,017 9,13,643 2023,677 1,020,619 1474,059 4,921,112 1661,168.2227,482 lii45,75l 1205,689 3047,210'1107,369 664,726 1110,149 917,117.2,033,787 102 126,330 2,369,502 31,949 52,110 6 5,809 191,344 !.269 3,363 l/33 23,068 455,057 8,349 12,904 3 .6,678 158,815 3,112 3,069 9 7,090 213,582 3,794 5,542 5 14,187 201,366 2,651 2.,959 4 • 14 9,558 15,860 146,125 376,019 1,504 3,043 2,8676,864 4 7,019 107,102 1,988 3,069 3 9,822 63,481 1,224 1,478 4 6,476 6,476 128,313 2,486 2,268 3 3,476 105,886 778 2,668 9 17,287 222,i+32 1,751 5,059 4 4 , 8 9 7 , 4 2 4 2481,074 12,063,935 2720,698 3699,256 2638,604 2308,392 7566,438 1841,857 1109,592 1875,400 1519,852 5,072,276 1/ After deducting $69,000 participations of other Federal Reserve Banks. H.U.l(c) L I A STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 2 3 , 191+7 (In- thousands of d o l l a r s ) New York Phila, Cleve. Rich. A t l a n t a Chicago S t . L o u i s Total .Boston • Minn. Kans.Cy. 585,037' 910,951* D a l l a s SanFran, 583,758 2679,52li F e d e r a l Reserve n o t e s 2l+,08l,61+7 lhhk,926 5,561,372 1631,767'2085,151 l6Ul,6lii 1357,856 li527,870 1071,818 Deposits: Member b a n k - r e s e r v e acct.l6,2i+l+,3l+i+ 738,980 5,036,213 79ii,188 1228,1*97 717,025 716,267 21+57,511* 596,523 1*08,717 776,51*3 766,117 37,1*59 33,756 5l*,2l+2 3k,Q9h L. o,55k 107,736 35,988 69,1*1*1* 88,81+9 U . S . T r e a s u r e r - g e n e r a l a c c t . 939,169;'; 51,1*89 322,562 9,870 7,1*78 10,1*69 111, 656 12,263 1*0,678 10,1+69 2U,227 27,816 Foreign " 337,801 19,212 l/l.5l+,288 1,308 2,388 389 2,850 3.182 5,811 2,896 7,976 1,794 Other U80,55U .-. 2,21+5 1*13,095 Total deposits 18,001,868 811,926 5,906,158 890,755 1353,138 787,717 773,911* 2609,110 61*8,791 1*52,339 823,211+ 813,835 96,975 53,178 1H*,608 Deferred a v a i l a b i l i t y items 2,096,998- 178,268 " 37l*i955" 11*0,181 l9l*,3l*l 173,020 11*6,019 332,660 94,583 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 •" 538 . . ,. ^ __^ 61*8 2,076 _ 556 521* 555 2,201; 797; 1,1*55 669 783 ; 11,71*9 TOTAL LIABILITIES 1+1+,192~262 21+35,905 ll,8l*lt,689 2665,500 565I*,035 2605,020 2278,1*37 71*71,716 1815,716 1091,089 181*9,331* 11*95,106" C a p i t a l paid in,. 192,1+32 11,196 6 7 , 5 8 1 : li*,260' 13,770 8,135 7,l*n 23,031* 6,355 h&l 6,1+58 7,135 Surplus ( S e c t i o n 7)' 1+59,825 27,557 136,51*9' 3l*,72o 1+1,394 20,676 16,663 65,07s 16,577 10,997 15,729 13,777 Surplus (Section l j b ) 27,1*55 3,012 7,253 1;,U89 1,007 3,325 762 1,1+29 521 1,073 -1,137 1,307 Other c a p i t a l a c c o u n t s 1+5,1+02 3,406 7,913 3,721 l+.ooo 5,1*1*8 3,H9 5,181 2,688 2,196 2,762 2,527 : TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1+4,897,1+21+ 21+81,071+ 12,065,985 2720,698 3699,256 2638,60I* 2503,392 7566,1*38 181*1,857 1109,592 1875,1*00 1519,052 Contingent l i a b i l i t y on b i l l s purchased !^ 166 for foreign correspondents 157 2/1,521 585 1*1*2 253 195 62+7 166 119 301* ',753r Coaimitmenfcs t o make i n d u s t r i a l 3,750 loans 1,073. 1,3-30 83 ,27 51 1+006 J 9 Q 9 2005,760 62,196 26,375 36,61*0 2130,971 198,210 962 5009,667 17,922 38,106 2,il|0 l+,l+l+i 5072,276 1+18 160 933,860 611,611 2 , 7 9 9 , 1 6 6 F.R.notes outstanding 2 4 , 8 1 1 , 3 1 8 li+95,875 .5.717,723 1681,871 2157,81+9 1698,1+10 11+00,590 1*619,918 1113,607 600,833 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 . R. A g e n t s j Gold c e r t i f i c a t e s 12,118,000 1+55,000 5,1+70,000 500,000 655,000 675,000 570,000 2860,000 500,000 181*, 000 280;000 169,000 2000,000 12,511+ 6,100 E l i g i b l e paper 8,510 6,1*1*0 — 12,530 ---'! — '• 8,910 : : 61*,509: 9,905 500,000 1200,000 U. S. Govt, s e c u r i t i e s 15,667,816 1100,000 2,1+00,000.'1200,000 1500,000 1055,000 850,000 1800,000 937,316 1+25,000 700,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES Over 1 to 2 6 months 91 days t o Within ' 61 t o 2 to 5 51 to 16 to 5 years years y e a r s t o 1 year 90 days 6 months 60 days 30 days 15 days Total Discounts and advances Industrial loans H.S.. Govt, securities 28,805 113,501 •- 85,1+56 1,305 l+,385 . .: 1,730 . 1,182 28 3 26 53 108 330 2 1 , 7 0 0 , 3 8 8 3,073,1*02 2,189,21+0 5,71*9,339 1*,327,030 ; i ^ 7 l * , 6 l l IT, 102^596' ' 2 9 5 , 1 + 0 0 H+8,550 l/ After deducting $205,586,000 participations of other Federal Reserve Banks. 2/ After deducting $3,232,000 participations of other Federal Reserve Banks. 51*0,31*0
@FedFRASER