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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, June 11, 1948) H.4.1 June 10, 1948 CONDITION OF THE FEDERAL RESERVE BANKS During the v/eek ended June 9, member bank reserve balances increased $60,000,000, Additions to member bank reserves arose from decreases of 0423,000,000 in Treasury deposits with Federal Reserve Banks and $31,000,000 in money in circulation and an increase of $19,000,000 in gold stock, offset in part by decreases of $337,000,000 in Reserve Bank credit and $2,000,000 in Treasury currency and increases of $74,000,000 in nonmember deposits and other Federal Reserve accounts and $2,000,000 in Treasury cash* Excess reserves of member banks on June 9 were estimated to be approximately $920,000,000* Holdings of loans, discounts and advances increased $73,000,000 while holdings of United States Government securities decreased $334,000,000, The decrease in holdings of United States Government securities reflects decreases of $338,000,000 in bills, $15,000,000 in notes and $1,000,000 in bonds and an increase of $20,000,000 in certificates. Changes in member bank reserve balances and related items during the week and the year ended June 9, 1948, were as follows: ]increase or decrease since June 9, 1943 June 2, 1948 June 11, 1947 (In mill..ions of dollars) U, S, Government securities Loans, discounts and advances Other Reserve Bank credit 20,349 313 293 -334 + 73 - 75 -1,229 + 136 + 8 Total Reserve Bank credit Gold stock Treasury currency 20,955 23,362 4,560 -337 + 19 - 2 -1,085 +2,336 1 Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F, R, Banks Nonraeinber deposits and other F, R, accounts 17,154 27,364 1,337 1,144 1,379 + 60 - 31 + 2 -423 + 74 +1,126 - 339 + 5 + 649 - 139 STATE! ENT OF CONDITION OF THE TVJELVE FEDERAL RESERVE BAMKS COMBINED ( I n thousands of d o l l a r s ) HJi.l(a) I n c r e a s e or d e c r e a s e since June 1 1 , 191+7 June 9» 19U8 June 2, . 19U6 21,/.l6S170 620,722 22,085*892 25l+,592 312,3142 891 + 10,000 2 + 9,998 + 9,31+7 + 72,886 17 +2,595,1+92 91,695 +2,303,797 + 25,217 + 137,552 871 7.9314,891 U,289,507 1,9142,800 6,181,786 -338,200 + 20,000 - 15,000 1,000 -6,1+1+1+, 1+77 -1,812,759 +1,573,500 +5,l+5l+,596 20,3148,981+ -33^,200 -1,229,31+0 20,662,217 -261,331 -1,092,659 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 Uncollected items Bank premises Other a s s e t s TOTAL ASSETS 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 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 a c c o u n t s TOTAL LIABILITIES AND 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 «•«* 49 53 + 3,811+ + 3,036 + 198,215 + 562 + 122,1+08 h5,Blh,9k2 -368,021 +1,560,523 23,722,075 - 19,375 - 17,15^,080 l,lU3,83U 370,967 1+57,1+77 19,126,358 2,209,651 + 59,696 -1423,505 + 28,71+7 + 1+5,615 -289,i+T+7 - 63,01+1 +1,126,298 + 6U8,53U 59,707 1,289 +1,713,836 + 189,825 17,051+ 1+5,075,138 + 235 -371,628 + 2,261 +1,517,757 232 + 6,1+95 + 8,566 + 88 + 27,817 +1,560,523 103,377 2,502,628 32,568 173,619 + 8,21+1 -138,090 «*•*» 197,991+ 1+1+8,189 27,51+3 66,078 U5,8ll4,9l42 + 5,839 -368,021 » 5l.5# .3% 3,298 6,6ol+ — «•«• + + 7 1 388,165 • 3.9fl/° 2,77l+ 272 H.i+.l(b) STATEI.2ENT OF CONDITION OF TH3 FEDERAL KE5S1VE BANKS ON JUNE 9 , I9U8 ( I n thousands of d o l l a r s ) ASSETS Gold c e r t i f i c a t e s Total Boston 21,1+65,170 851,oee 620,722 54,731 New York Phila. Cleve. Rich. Atlanta Chicago St.Louis 6,633,CC6 1037,68c 11+26,252 1031,679 1054,372 1+506,722 593,137 i.'inn. Kans.Cy. D a l l a s SanFran. 1+65,781 775,129 527,581 2762,829 Redemption fund for F. R. notes T o t a l gold 67,269 57,277 75,152 55^575 38,091 97,197 45.-9C4 22,554 34,959 905,733 6,700,275 109l+,957 lU99,l+cl+ 1087,052 1092,1+63 1+1+03,919 639,ci+l 30,1+75 l+9,402 10,580 26,815 15,820 18,617 34,691 12,179 1+88,555 5,^33 810,088 7,936 25,5l4 1+8,701 certificate reserves 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 : 22,085,892 25l+,592 34,812 10,152 S,475 11,1+93 8,110 29,1+1+6 397,800 1127,1+53 1+38,109 21+2,679 369,853 559,o01 720,306 215,ol+7 97,398 5C9,9H 236,836 107,268 54l,?l5 131,298 199,938 59,1+67 90,556 189,218 288,159 194,395 88,01+6 280,155 389,389 176,362 561,165 622,862 91+8,1+86 922,195 181+7,220 20,662,217 1390,391 4,989,587 1472,368 1983,609 131+0,1+82 1030,65!+ 2926,159 1135.-680 628,557 959,979 930,305 1876,666 512,342 Q91 22,1+51 ._ 110,267 B i l l s 7,934,891 533,1*15 1,902,61+1+ Certificates i+,289,507 288,357 1,91+2,800 130,603 6,18:1,786 1+15,565 ljotes BondE T o t a l U.S.Government securitieT 553,C95 2811,530 9,752 32,892 20,51+8,981+ 1367,91+0 mm 18,270 ^Q 32,1+90 262 18,678 59 566,789 760,718 515,321+ 1,028,51+8 3c6,399 1+11,255 278,578 1+65,81+8 138,771+ 186,256 126,173 1,1+82,280 l+4l,566 592,648 uCl,l+70 10,1+98 609,1+87 276,ol+9 878,358 4 , 8 7 9 , 3 2 0 ll+53,528 1950,^57 1321,51+5 1020,156 2891,51+7 1125,528 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 1+9 103,377 3 l / l 6 i+,1+95 15,176 1+ 5,865 2 12,612 2 9,165 21+8,593 216,362 159,673 ? l4,486 2 8,160 2 5,637 2 l+,293 4 15*166 2,502,628 205,023 68,311 135,810 116,075 215,15*+ 32,568 1,218 8,15!+ 3,119 4,874 2,605 1,51+2 5,050 1,955 1,195 2,1+21 777 1/682 :ther assets 175,619 11,954 l+l,ll+0 12,117 16,571 11,502 8,769 24,510 10.^007 5,270 8,028 7.888 l6,,0l+3 TOTAL ASSETS 1+00,1+19 118,61+1 1 2,205 Bank premises r 1+1+8,960 169,607 4 6,117 1+5,8l4,9l+2 2549,292 12,252,710 2768,617 3785,987 2686,235 2520,905 7807,221 1925,665 1199,087 1929,901 1622,187 1+969,137 1/ A f t e r deducting $33,000 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* lUwl(c) L H B I L I T STATEMENT OF CONDITION OF THE FEDERAL ( I n thousands of New York Phila. Cleve. Rich. A t l a n t a 5,447,214 1625,747 2075,722 1614,610 1314,264 I S S Total Boston 23,722,075 H 3 0 , 7 2 6 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 * 17,154-jOoO 752,034 5,439,235 ,183,701 U J 3 » T r e a s u r e r - g e n e r a l a c c t . 1,143,534- 106,962 22,327 i/l31,601 Foreign 370,967 2,156 400,535 Other 457,477 19,126,353 883,479 6,205,072 Total deposits Deferred availability items 2,209,651 186,748 368,333 Other liabilities including 4,727 accrued dividends 17,054 1,047 45,075,138 2502,000 TOTAL LIABILITIES Capital paid in 11,312 197,994 Surplus (Section 7) 28,117 448,189 Surplus (Section 13b) 3,011 27,543 Other capital accounts 4,352 66,078 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 45,814,942 2549,292 Contingent liability on bills purchased 3,298 208 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 6,604 75 loans 24,480,222 1463,886 F . R. n o t e s o u t s t a n d i n g C o l l a t e r a l for F . R . n o t e s h e l d by F.R.Agents: 13,229,000 460,000 Gold c e r t i f i c a t e s 54,797 8,780 E l i g i b l e paper 12,225,000 1100,000 U.S.Govt, s e c u r i t i e s 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 312,342 391 20,348,984 IVithin 13 days 83,021 579 1,804,473 RESERVE BANKS ON JUKE 9, 19^8 dollars) Chicago S t . L o u i s Minn, Kans.Cy. 4503,813 1081,795 613,741 9 1 9 , H 0 806,329 1267,536 733,737 101,133 116,692 80,087 17,312 27,621 32,503 1,838 1,880 6,377 936,921 1423,108 145,330 217,205 1,120 1,728 741,803 2628,005 620,076 411,964 798,513 60,089 165,423 65,365 81,443 56,180 14,485 48,049 12,719 3,833 12,365 1,688 1,161 2,261 5,078 145 833,016 817,538 2343,738 703,238 503,928 367,203 199,320 156,599 352,142 109,819 61,317 115,063 921 769 >,438 766 514 681 Dallas SanFran. 596,237 2494,066 816,273 2083,575 62,928 63,831 12,012 31,140 594 33,764 891,807 2217,310 106,734 190,491 713 1,580 12,025,396 2709,113 3717,763 2648,367 2289,170 7707,181 1395,613 1179,500 1902,037 1595,491 4903,447 3,466 68,898 14,546 6,522 18,983 7,747 24,129 4,369 6,795 7,635 18,592 138,596 35,350 21,210 19,110 16,972 66,217 42,173 11,233 16,143 14,111 33,952 1,006 7,319 4,489 3,349 1,429 1,073 1,137 762 521 2,140 1,307 12,501 4,116 6,062 4,030 2,912 4,843 8,265 5,U4 6,006 3,734 3,643 12,252,710 2768,617 3785,987 2686,235 2320,905 7807,221 1923,663 1199,037 1929,901 1622,187 4969,137 2/l,056 267 162 119 82 296 1,273 133 16 353 580 5,679,350 1668,054 2140,355 1670,193 1356,467 4534,156 1114,096 632,938 303 135 449 115 112 290 3,750 123 945,379 622,994 2596,354 4,470,000 550,000 735,000 625,000 675,000 2700,000 315,000 200,000 230,000 169,000 2050,000 — 2,340 14,272 7,173 — 7,945 3,887 10,350 50 1,300,000 1200,000 1500,000 1075,000 750,000 1900,000 950,000 450,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES 16 t o 30 days 31 t o 60 days 61 t o 90 days 35,119 30 3,782,920 82,634 175 2,213,955 91,494 66 2,376,822 91 days t o 6 months 20,013 7 2,186,867 6 months to 1 year 1 to 2 years 11 4 1,802,161 14 1/ After deducting 0239,248,000 participations of other Federal Reserve B^nks. 2/ After deducting 0 2,242,000 participations of other Federal Reserve Banks. 2 to I years 16 1,138,651 Over 5 years 5,043,135
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