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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
(Released for Publication Friday morning, July 9, 1948)
.H.4.1
July 8, 1948
CONDITION OF THE FEDERAL RESERVE BANKS
During the week ended July 7, member bank reserve balances increased
1195,000,000* Additions to member bank reserves resulted from increases of
1343,000,000 in Reserve Bank credit and $52,000,000 in gold stock and a decrease
of $87,000,000 in Treasury deposits with Federal Reserve Banks, offset in part by
increases of $242,000,000 in money in circulation, $38,000,000 in nonasmber deposits
and other Federal Reserve accounts and $6,000,000 in Treasury cash and a decrease
of $2,000,000 in Treasury currency. Excess reserves of member banks on July 7 were
estimated to be approximately $950,000,000•
Holdings of loans, discounts and advances increased $133,000,000 and
United States Government securities increased $169,000,000, The increase in holdings of United States Government securities reflects increases of $263,000,000 in
certificates and $4,000,000 in bonds and decreases of $38,000,000 in bills and
$10,000,000 in notes.
- Changes in member bank reserve balances and related items during the
week and the year ended July 7, 1943, were as follows:
Increase or decrease
since
July 7,
1^48
June 30,
1948
July 9,
1947
(In millions of dollars)
76
277
7
U. S, Government securities
Loans, discounts and advances
Other Reserve Bank credit
21,535
399
309
+ 169
+ 133
+ 42
+
+
Total Reserve Bank credit
Gold stock
Treasury currency
22,243
23,584
4,562
+ 343
+ 52
2
+ 208
+ 2,248
+
11
Member bank reserve balances
Money in circulation
Treasury cash
Treasury deposits v/ith F. R, Banks
Nonmember deposits and other F, R. accounts
17,584
28,142
1,334
1,841
1,489
+ 195
+ 242
+ 1,394
- 221
+
5
+ 1,275
+
14
+ 6
- 87
+ 38
STATEMENT OF CONDITION
OF THE TWELVE FEDERill RESERVE BANKS COMBINED
(In thousands of dollars)
H»UA(a)
Increase or decrease
since
July 7,
191+8
ASSETS
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
•" I "
••
•
('<
I.M • • • i n i i w i i i
m i n i ninn i
, n.m
'I H i o n
ill
•
Other cash
Discounts and advances
Industrial loans
U» S> Govt* securities:
Bills
Certificates
Notes
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
L I A B I L I T I E S
Federal Reserve notes
Deposits:
Member bank-reserve account
U.S. Treasurer-general 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 including accrued
dividends
TOTAL LIABILITIES
9.iZlZth
i £ 2. 2 y. H I £
Capital paid i n
"*
"~ "^ "*
Surplus (Section 7)
Surplus (Section 13b)
Other c a p i t a l accounts
TOTAL LIABILITIES AND CAPITAL ACCOUNTS
Ratio of gold c e r t i f i c a t e reserves
to deposit 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 to make i n d u s t r i a l loans
21,692,172
615*62+3
22,507,815
22l+,500
397.670
8i|i+
8,1+88,581
U. 878,907
1.957,800
6,209,881
June 30,
19U8
July 9,
191+7
50,002
•2.315.995
• 110,0ii6
+ 50,002 +2,205,947
7,606
- 51,1+70 r
+
277,011
+152,058
89I+
7
- 88,500
+262,900
- 10,000
+ 1+.200
-5.501+.155
-1,61+2,859
+1,588,500
+5,1482,1+91
'".'*»
• 11 ' I i 1 m »'i —
21,555,169
21.933,683
h9
99.1+31
2,l+56,5l+U
32,1+91
12l+,8l+l+
<• 76,021
+ 200,096
53
- 6,757
6,5l!+
-205,751 + .102,650
5 +
5l+3
- 11+.768 + 75.826
1+7.158,957
+ 92,101+ +2,570,889
25,960,01+3
+208,231
*
17,58l+,527
1,81+1.159
1+1+0,61+6
1+56,609
20,502,721
2,126,986
+195.300
- 86,1+20
• 35.396
» 17,532
+126,71+1+
-2l+8,0l+9
+1.391*. 136
+1,275.51+1
+ 100,1)65
67,669
+2,702,1+73
+ 95.076
15,1+95
Z46,I+03 ,2Z+3
+
872
+ 87,798
+
5,851+
+2,517,500
+
+
+
+
198.777
1+1+8,189
27,51+3
81,205
+168,800
+500,851
237
+ 1J,C69
+ 92^10+
283,903
6,556
8,566
88
+ 58,579
+2,570,889
50.1$
2.61+5
6,1+32
1
50
*
2,682
514-3
H*4»l(b)
STATEMENT OF CO NUT ION OF THE FEDERAL RESERVE BANKS ON JULY 7 , 1948
( I n thousands of d o l l a r s )
ASSETS
Total
Sold c e r t i f i c a t e s
Redemption fund f o r
F . R. n o t e s
Boston
21,692,172
850*958
615,643
54.296
T o t a l gold c e r t i f i c a t e
reserves
22.3C7.815
Other c a s h
224,500
597,670
D i s c o u n t s and advances
Indu s t r i a l l o a n s
fij|)|
" • S» Govt* s e c t j r i t i e s :
8,488,581
Bill s
Certificates
14,878,907
1,957,800
Notes
Bonds
6,209,881
905,254
19,428
19,468
«•»«»
570,657
527,980
131,611
417,455
New York
Phila,
Cleve,
Rich,
Atlanta
6 , 9 9 9 . 8 7 2 1010,526 1458,021 1014,019 1052,645
Chicago 1S t . L o u i s
Minn,
Kans.Cy,
D a l l a s SanFran,
4514.656
607,499
465,154
775.959
509.445
2675,658
57.685
96,618
45.752
22,482
54.855
25,388
48,271
7.C65.594 1067,939 1510,635 1068,590 1070.328
42,125
11,954
10,519 22,857
18,545
190,607
21,901
15.150
16,954
52,171
—
528
261
55
4411,274
55,467
55,616
—
653,251
11,518
9,651
485,656
4,970
5.975
—
810,7Q2
8,550
11,555
--»
534,855
10,496
8,254
--.
2725,909
28,295
54,428
....
425,557 1243,070
244.594
693,254
278,180
98,151
311,320
882,550
451.755
269,579
108,096
542,866
259,826
149,559
59,926
190,078
395,661
227,410
91,255
289,1449
584,695
221,106
88,726
281,1426
770,568
442,895
177,725
565.714
65.522
57,615
72,614
54.571
«•»•»
2,055,410
1,169,874
469.445
1,489,018
606,558
548,500
159,846
445,572
815,801
467,741
187,694
595,541
551.285
516,857
127,147
405,294
•»•»
T ort aa il U.S.Government
u,a»uovernmenx
securities
21„555,l69 1447,681
5*165,747 1538,256 2064,577 1398,583 1079.622
3096,854 1152.076
659.169 1005,775
975.951
1954, 898
T o t a l loans a n d
securitie's
21,955,685 1467,149
Due •from f o r e i g n banks
49
3
F.R, notes of other banks 99.451
4,611
Uncollected items
2,456,544 209,877
Bank premises
52,491
1.215
Other a s s e t s
124.844
8,535
5,354,554 1560,685 2097.009 i4l5.592 1092,752
l / 16
4
4
2
2
i£,589
4,267
4,922
10,651
8,516
472,765 166,888 255,645 218,561 159.168
8,155
5,10?
4,86l
2,599
1,559
29,305
8,7l4
12,207
8,148
6,572
5150,450 1161,707
.
7
2
15,855
7,991
564,267 100,258
5,029
1,950
17,671
7,244
665.144 1015.510
1
2
4,001
6,724
65.587 126,261
1,195
2,4l5
5.782
5,825
984.205
2
4,285
112,195
774
5,524
1989.526
4
15#265
207,096
1,676
11,519
7975*998 1945.681 1250,514 1975,879 1652,510
4975,086
TOTAL ASSETS
47,158,957 26I6.070 12,988,477 2621,925 5886,140 2755,857 2557,222
l/ After d e d u c t i n g $53,000 p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks.
H#U#l(c)
LI ABI LITIES
STATEMENT OF COM)IT ION OF TIE FEDERAL RESERVE BANKS OH JULY 7* 1948
(In thousands of dollars)
Dallas SanFran*
Total
Boston New York Phila,
Cleve*
Rich. Atlanta Chicago St.Louis
Minn. Kans.Cy.
23*960,043 1456,964 5,5084*15 1647,289 2107,147 1629,758 1525,805 4555.505 1085,962 618,566 924,779 602,721 2501,154
Federal Reserve notes
Deposits!
Member "bank-reserve acct* 17 *5$hm321 7bl £lk 5,914.588
402,491
TT*S •Treasurer-general a c e t y l .841,159 129.477
V148.411
Foreign
440,646
27,127
576^05
Other
456,609
5.255
Total d e p o s i t s
20,502,721 907.055 6,841,895
Deferred a v a i l a b i l i t y items 2 , 1 2 6 . 9 8 6 202,852
405.719
Other l i a b i l i t i e s including
accrued dividends
TOTAL LIABILITIES
Capital paid i n
Surplus (Seorfeion 7).;
Surplus ( S e c t i o n 131$
Other c a p i t a l accounts
TOTAL LIABILITIES AMD
CAPITAL ACCOUNTS
651,555
89,288
154*62
5,561
451,180 809,076
92,858
90,452
10,738
15,052
208
1,917
825,061 2041*250
82,057 107,109
14,605
57,903
i*45
54.180
914.768
107.271
920,1244 222044*2
1014*79 185,215
741,666 536,675
86,554 54,585
47.158,9*7 2616,070 12.9884+77 2821.925 5886.140 2755.857 2557.222 7975,998 1943.681 1250,514 1975*879 1652,510 4975.086
Within
959.910 1505,915
155.276 201,725
730,570 745,778 2656,746
91,560 507,571
120,518
58,412
21,046 17,609
758
2,671
3,458
875,572 8534*85 3025,400
191,090 146,809 292,417
3*403
798
1,597
758
629
2,016
611
456
579
551
1.224
154*93
891
46.405,243 2567»760 12,757^50 2761,273 3816,580 2696,958 2524.728 7873,338 1914,793 1210,258 1947.597 1624.895 4908,033
7,777
24.562
6.540
4,578
6,854
7,681
18,625
68.971
14.565
19.028
8,498
198,777
11.518
138.596
35.550
42.173
21,210
19.110
66.217
16,972
11.235
16.148
14.111
58.952
28,117
448 »1Q?
762
1,429
521
1.157
1.307
2,140
7.319
44*89
1.006
3.549
1.075
27,543
3.011
16.161
6.246
7»555
5.842
4.845
104*52
4.855
3.372
4,365
4.316
7.356
81.20s
5.864
Contingent l i a b i l i t y en b i l l s purchased
for fbreign correspondents
2,645
167
Commitments t o make i n d u s t r i a l
* loans
6,432
75
FJR, n o t e s outstanding
24.598,369 1484,942
C o l l a t e r a l ' f o r F , R» not e s
held by F»R» Agents:
Gold c e r t i f i c a t e s
13,519,000 460,000
E l i g i b l e paper
149.192
4*915
U»S»Govt» s e c u r i t i e s
11.925,000 1100,000
Discounts and advances
Industrial l o a n s
TT,S» Oovt» s e c u r i t i e s
790,913 1264.596
152.553 195,645
34,789
39,514
1,855
6,158
Total
597,670
844
21.555.169
15 days
188,977
522
2,005,455
S/W
214
243
150
108
360
95
66
93
16
478
400
—
196
1,257
140
5,668,457 1687,040 2167,582 1675,721 1562,521 4627.196 1120,622
-~
652,974
3.750
946,799
90
233
—
120
626,419 2598,316
4,770,000 550,000 755.000 625,000 675,000 2740,000 515,000 200,000 280,000 169,000 2000,000
200
3,450
—
14.100
—
1,515
116,687
5.190
—
5,535
1,000,000 1200,000 i5oajooo 1075.000 750,000 1900.000 950,000 450,000 700,000 500,000 800.000
KATIS EY DISTRIBUTION Of' LOANS AM) SECURITIES
91 days t o
6 months
1 t o 2!
2 to 5
Over
16 t o
31 t o
61 t o
6
months
t
o
1
year
y
ears
years
5 years
3D days
60 days
90 days
—
—
——
-v
9,150
Z
55.125
91.438
52.980
i4i
62
83
16
—
2
4
Ik
1,116,331
2,756,122
4,808.540
572,550
4,2664*90
1,148,551 5.061,530
1 / A f t e r deducting $292,06o,000 participations of other Federal Reserve Banks.
y After deducting $ 1,799,000 participations of other Federal Reserve Banks*
@FedFRASER