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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.I+,1 (For Immediate R e l e a s e ) J u l y 7 , 19^9 CONDITION OF THE FEDERAL RESERVE BAMS D u r i n g t h e week e n d e d J u l y 6, r e s e r v e r e q u i r e m e n t s w e r e r e d u c e d a p p r o x i m a t e l y $ 8 0 0 , 0 0 0 , 0 0 0 * Member bank r e s e r v e b a l a n c e s d e c r e a s e d $ 3 3 , 0 0 0 , 0 0 0 and e s t i m a t e d e x c e s s r e s e r v e s i n c r e a s e d from $ 6 i | 0 , 0 0 0 , 0 0 0 on June 29 t o $ 1 , 1 4 1 0 , 0 0 0 , 0 0 0 on J u l y 6 R e d u c t i o n s i n member bank r e s e r v e s r e s u l t e d from an i n c r e a s e of 5 2 3 3 , 0 0 0 , 0 0 0 i n money i n c i r c u l a t i o n a n d a d e c r e a s e of 1 9 6 , 0 0 0 , 0 0 0 i n R e s e r v e Bank c r e d i t , o f f s e t i n p a r t by d e c r e a s e s of $ 2 3 5 , 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 B a n k s , $ 3 9 , 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 , a n d $ 1 8 , 0 0 0 , 0 0 0 i n T r e a s u r y c a s h , a n d a n i n c r e a s e of 15,000,000 in gold stock. Total loans and s e c u r i t i e s d e c r e a s e d $210,000,000, r e f l e c t i n g a d e c r e a s e of $37 3 0 0 0 , 0 0 0 i n l o a n s , d i s c o u n t s and a d v a n c e s and a d e c r e a s e of &L71+,000,000 i n h o l d i n g s of U n i t e d S t a t e s T r e a s u r y 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 a n d 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 e n d e d J u l y 6 , Y)hQ w e r e a s f o l l o w s : Increase or decrease since J u l y 6, 19U9 June 2 9 , 19^9 ( i n m i l l i o n s of July 7, 19U8 dollars) U. S. 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 19,31+3 111, 321 -17ii - 37 +113 -2,192 285 + 12 Total Reserve Bank c r e d i t G-id s t o c k Treasury currency 19,779 2h,lijl - 96 + 5 — -2,1461+ + 887 + 35 - 33 -233 - 18 -235 - 39 + - bomber bank reserve balances ?-T, r;ey i n c i r c u l a t i o n :\rvury cash •ury d e p o s i t s w i t h F . R* Banks ^..icmoor d e p o s i t s and o t h e r F 0 R» accounts U, 597 17,980 27,659 1,306 o -Vp 1,639 396 L£3 28 -1,579 + 150 H.i+.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( I n thousands of d o l l a r s ) Increase or decrease since July 6t 1949 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 U. S. Govt, s e c u r i t i e s : Bills Certificates Notes Bonds T o t a l U, S. Government securities 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 U n c o l l e c t e d items Bank premises Other a s s e t s TOTAL ASSETS June 2 9 , 1949 July 7, 1948 + 15,000 251 + 14,749 - 27,714 - 36,604 + 22 + + + - 4,346,460 6,857,100 359,100 7,780,200 -173.669 — — — -4,142,121 +1,978,193 -1,598,700 +1,570,319 19,31+2,860 -173,669 -2,192,309 19,457,067 91,261 2,294,329 32,628 95,008 -210,251 -- 17,541 - 36,610 + 33 - 23,504 -2,476,616 _8,170 - 142,015 + 137 :?.9*836 45,479,119 -300,838 -1,679,838 23,497,568 +180,157 - 22,666,429 588,^71 23,25k,900 253*877 113,711 k96 49 974,257 27,172 947,085 29,577 283,959 348 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 a c c r u e d dividends TOTAL LIABILITIES 17,980,117 262,101 484,748 413,148 19,140,114 1,972,884 - 32,788 -235,008 - 22,405 - 38,223 -328,424 -150,262 + 395,790 -1,579,038 + 44,102 23,461 -1,162,607 - 154,102 9,966 44,620,532 7,104 -305,633 3,527 -1,732,711 CAPITAL ACCOUNTS Capital paid in 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 a c c o u n t s TOTAL LIABILITIES AND CAPITAL ACCOUNTS 205,690 466,711 27,543 158,643 45,479,119 706 .. 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 to 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 a c c e p t a n c e s purchased for f o r e i g n c o r r e s p o n d e n t s Coinmitments t o make i n d u s t r i a l loans «»•» + 4,089 +300,838 462,475 + + 6,913 18,522 -+ 77,438 -1,679,838 5h*5% 3#956 2,257 1,219 26 + - 1,311 hA75 H.4.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 6 , 1949 (In thousands of d o l l a r s ) A S S E T S Total Boston 22,666,429 828,276 588,471 51.719 Total gold certificate reserves 23,254,900 879,995 Gold certificates Redemption fund for F. R. notes New York Phila, Cleve. 7,524,872 1137,735 1562,056 50,052 57,264 72,1J45 Rich,. Atlanta Chicago St„Louis 994,154 978,016 4413,992 50,997 42,188 9^,272 7,574.924 1194,999 1634,501 1045,151 1020,204 4505,264 Minn* Kans.Cy. 662,364 428,289 43,912 808,180 22,712 55,504 706,276 451,001 843,684 Dallas SanFran. 583,280 2745,215 25,986 44,420 609,266 2789,635 Other cash 253,877 22,244 50,029 10,994 28,813 15,873 18,600 38,135 12,806 6,439 10,025 11,119 28,800 Discounts and advances 113,711 6,680 34,512 8,8l8 9,840 8,242 4,697 12,738 6,5?2 2,1+03 5,322 3,491 10,396 Industrial loans 496 — — 469 — 27 U, S. Govt, securities! Bills 4,31+6,460 299,853 1,030,067 296,072 400,878 279,030 233,027 648,566 234,892 140,708 210,230 188,006 385,131 Certificates 6.857,100 473,058 1,625,065 467,092 632,437 1+1+0,205 367,631 1023,196 370,570 221,985 331,664 296,603 607,594 N ot es 359,100 24,774 85,103 24,461 33,120 23,053 19,252 53,584 19,40? 11,625 17,369 15,533 31,819 Bonds 7,780,200 536,740 1,843,829 529,972 717,576 499,466 417,119 1160,938 420,458 251,868 376,313 356,553 689,388 Total U.S.Government securities 19,342,860 1554,425 4,584,o64 1517,597 1784,011 1241,754 1057,029 2886,284 1045,527 626,186 955,576 856,675 1715,952 T o t a l loans and securities 19,457,067 1341,105 4 , 6 l 8 , 5 7 6 . 1326,884 1795,851 1250,025 1041,726 2899,022 1051,899 628,589 940,898 840.166 1724,528 Due from f o r e i g n banks 49 F.R.notes of other banks 91,261 Uncollected items 2,294,329 Bank premises 52,628 Other a s s e t s 95,008 TOTAL ASSETS 5 l / l 6 5,324 8 ,U+9 207,467 455,180 1,157 7,982 6,787 21,979 4 3,512 166,432 5,020 6,119 4 5,995 192,789 4,785 9,455 2 14,986 188,524 2,515 5,959 2 9,051 145,262 1,545 5,051 7 2 15,258 5,890 550,985 125,671 5,176 1,919 J4»23_2__ 5,992 1 5,602 6i+,097 l,l6l 2,957 2 2 4 6,682 5,455 15,259 122,085 102,408 195,429 2,545 756 2,291 hj£2__ i±,:015. 8,i4-l 45,479,119 2462,082 12,757,135 2711,764 3670,167 2523,011 2241,421 7804,079 1910,455 1157,827 1930*124 1571,167 4759,887 l/ After deducting $35,000 participations of other Federal Rosorvo Bnn.lcR. STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 6, I9I+9 ( I n thousands of d o l l a r s ) Nt-.w York Fnila. Cleve. Rich. A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. 5,390,587 1628,1+61 209I+, 173 1551,893 1287,291 1+507,893 1080,799 612,187 920,095 B,h,l[C) Total Boston A B I L I T I E S 23,1+97,568 11+11,976 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 a c c t . 17,980,117 760,223 6,152,087 13,153 1+7,501+ U.S.Treasurer-general acct. 262,101 29,9311/159,71+7 Foreign l+3l+,7l+3 2,281+ 343,556 Other 1+13,1U8 Total deposits 19,ll+0,lll+ 805,591 6,702,894 Deferred a v a i l a b i l i t y items 1,972,881+ 188,796 385,661 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 9,966 2,552 697 TOTAL LIABILITIES l+l+,620,532 205,690 C a p i t a l paid i n 1+66,711 Surplus ( S e c t i o n 7) Surplus ( S e c t i o n 13b) 2? ,543 Other c a p i t a l accounts 153,61+3 TOTAL LIABILITIES AND CAPITAL ACCOUSTS 1+5,1+79,119 Contingent l i a b i l i t y on a c c e p t a n c e s purchased 3,956 for foreign correspondents Commitments t o make i n d u s t r i a l loans 2,257 F.R. n o t e s o u t s t a n d i n g 2l+,137,959 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 : Gold c e r t i f i c a t e s 13,754,000 E l i g i b l e paper 21,303 U.S. Govt, s e c u r i t i e s 11,1+75,000 Discounts and advances Industrial loans U.E^ Govt, securities Total 11?,711 k96 19,342,860 Dallas 6ol+,538 SanFran. 21+07,625 8 0 2 , XcA. 2019,216 15,271+ 42,316 839,055 9h,99B 2115,1+95 161,179 371 706 21+07,060 12,1+81,691+ 26i+l;,085 3591,231 21+77,535 2203,l<'+3 7685,91+0 1876,329 1134,504 1896,664 1538,992 70,1+21 19,21+2 8,107 25,958 ll+,907 11,505 9,017 8,257 6,733 4,545 7,239 36,701+ 20,023 68,81+2 1+3,968 22 ,1+17 29,3U7 ll+3,019 17,974 17,008 ll+,954 11,797 3,oil 762 1,006 4,1+89 521 7,319 1,137 1,307 3,349 1,1+29 1,073 Q 0 7 r\ 10,61+3 21,910 11,159 l£+,720 9.081 8,£ q-U 5,903 11,579 7,657 34,682 1+683,005 21+62,082 12,737,135 2711,761+ 3670,167 2523,011 221+1,1+21 7801+.079 1910,1+55 1157,827 1930,121+ 1571,167 1+759,887 2i+9 60 11+1+1,61+0 2/1,250 817,896 1266,152 16,830 11,822 38,003 1+3,709 5,903 1,198 719,754 12,677 23,280 3,613 71+1,195 2795,a39 22,089 44,71+4 19,1+79 65,561+ 998 6,51+3 61+1,031+ 1+36,876 18,362 18,380 17,101+ 11,877 5,605 1,101+ 873,932 1327,586 11+1,136 168,193 759,321+ 165,820 783,761 2912,290 131,916 261+,195 682,155 112,905 1+68,737 53,21+6 827,837 21,280 17,104 5,C93 871,314 lGl-,839 i+70 334 1+16 556 317 1,279 548 1+75 162 1,562 19,436 16,629 562 0^j-U^ 19,709 1+0,653 2,11+0 14,380 11+2 99 11+2 139 352 — 103 1,781 15 210 8 — 5,537,11+1+ 1671,625 2159,791+ 1602,611+ 1331,51+3 4575,271+ 1112,673 — 625,969 — 91+4,1+76 — 631,287 80 2503,920 364 194 546 1+,670,000 550,000 900,000 625,000 675,000 2805,000 315,000 210,000 280,000 131+,C00 2100,000 6,672 2,150 — 2,556 3,l+oo 1,770 3,925 200 1,000,000 1200,000 1300,000 1025,000 700,000 1800,000 900,000 1+50,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES 2 to 5 1 to 2 Over lithin 6 months 16 t o 9 I days t o 61 t o 31 t o 5 years y e a r s ye a r s 13 days t o 1 year 30 days 90 days 6 months 60 days 17,1+83 11,532 9,496 1+78 74,722 16 1+39 3 1+ 27 2,090,200 5,14*3,000 951,912 780,300 4,827,700 3,32l+,9l8 334,878 l,58l+,952 1 / A f t e r d e d u c t i n g $32lj.*969*0Q0 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. 2 / After deducting $ 2 , ? 0 6 , 0 0 0 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, 1+1+0,000 1,130 1100,000
@FedFRASER