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BOARD OF GCVSRNOfiS OF; THE' 'FEDERAL RESERVE SYSTEM
•(Released for P u b l i c a t i o n Friday! morning, March. I 9 r I9U8)
H*lul
March 18, 19^8
-COflDITlQET OF THE FEDERAL RBbERVS;BANKS ,
Pu'ri'ng t h e W $ k e'rjded March 1^7 member bank r e s e r v e b a l a n c e s decreased
$ 1 5 , 0 0 0 , 0 0 0 . ' Reductions i n Member*. Taa&iK r e s e r v e s arose from a d e c r e a s e of
$139,000,000 i n Reserve Bank c r e d i t and an i n c r e a s e .of $78,000,000 i n nonmember
d e p o s i t s and o t h e r F e d e r a l Reserve a c c o u n t s , o f f s e t i n p a r t by d e c r e a s e s of .
$ 8 6 , 0 0 0 , 0 0 0 . i n money, i n c i r c u l a t i o n , $7k, 000,000 in T r e a s u r y ..deposits w i t h F e d e r a l
Reserve Banks and $6,000,QOQ i n Treasury cash and 'an i n c r e a s e of $36,000,000 i n
gold stock*' 1 '' Excess r e s e r v e $ of member jbanks on Liarch 17 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 $960,000,000.
Holdings of l o a n s , d i s c o u n t s and advances i n c r e a s e d $67#OQO,6op IwhjLle
United States'Government s e c u r i t i e s 'degreatsed $30$, 000,000; The d e c r e a s e i n h o l d ings of. United 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 .decreases of ,$21$>COO,000 in
b i l l s and $117,000 f 000 i n bpads and i n c r e a s e s of $59,000,000 in c e r t i f i c a t e s and
$2,P00,000 a n n o t e < | /
*
.
i
t
-
.
.
•
.
Changes i n memberib'Arik r e s e r v e b a l a n c e s and r e l a t e d items'»durihg the week
and t h e year ended March 17j I9U8, were as follows?
'
I n c r e a s e or d e c r e a s e
since
fjarch 17tI9I18 '
March l b j
19U8
Marcji I 9 ,
..19U7 '
( I n m i l l i o n s of d o l l a r s ) '
U. S'# Government s&curiti^S'
Loans, d i s c o u n t s and advan.cp.sr
Other Reserve Bank c r e d i t ' *
20,373
367-
Total* Reserve Bank credit
Gold stock.
*.'•'•
Treasury currency
Member, bank" reserve balances"
Money in circulation \
Treasury cash,
Treasury deposits' with'F* R« Banks
Nonmember deposits* and. other* ;F«R#accounts
305'
'67'
99
-2,038
+ . 132
21,187
23,U9
h, 5'59
- 139
+ -36
-1,860
+2,706
+
2
17,351.
27,920;
1,325
677
1,592
-
15
86
6
+
7U
78
UJU7 •
•*
+
+•
ii6
+l,k 08
,.-} 322
10
-. 36
- 192
:•• STATEMENT - OF C OND IT I ON
OF, THE T1IELV1 FEDERAL RE33KVS- BANKS COMBINED
( I n thousands of d o l l a r s )
H.l»,l(a)
I n c r e a s e or d e c r e a s e
since
Liar 6 h 17,
19U8
March 19,
I9a7
March 10,
,' I9I48
ASSETS
II. II I . . H , . .11 , • , , » « • L. .. •<*•
»•• . . I I I . - ,
Gold c e r t i f i c a t e s
Redemption fund for/.F^ft* notfes ;'
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
CertificatesNotes
Bonds
Total U. S^ Government',
securities'•™', ." '"•w,'i
Total loans and sec^ritp.es
Due from foreign banks <
F. R, notes of .other banks
Uncollected items
Bank*"; premises
Other assets
TOTAL ASSETS
2l,22l|,170
636,14-7-1
21,860,6141
. 36l4,3!07
363,3,02
,3,602
+ 35O>00
•+2,852,7u3
- - ' 629 ' r. 135,8147
+2,696,896
+3a»37i
•+ 9,033
•* 29,851
+ 129033
+ 65,503
+
2,562
+ 1,511
"8,666001
14,289,725
1,77a Ooo
••5,61.42,7-03
-2)47,960
+ 58,700
+ 2,000
-117033
-6,152,9)47
-2,196,893
+l,l t 22,300
+14,889,313
20,372,929
-300693
'., 038,227
2,0,739,333
-237,679
121/798
,j3,lO6,301
32,836
131,621
+ ..7,425
+9146,806
- 25,19a
- 1 , ,906,232
7
.7,293
+
557097
60I4
90,99a
.if
lj6,637,932
+736,759'
+ 1;, 0 / 6 , 5 9 6
^3,91/4,287
- 76,a5i
-
17,350,679
677,263
525,353
; a/31420
+
+
1.9,03.01415
2,959,585
- 37,392
+8I47, 506
007,815
35,292
+
12,001
153,861
+1.,230,663
+ 510,1409
.
D4,550
10,952,1337
. I46I •
+733,202
197,700
1.48,189
270U3
61,663
146,687,932
+•
3
L,I A B I L I T. I E jS
Federal Reserve n o t e s
Deposits:
iviember b a n k - r e s e r v e arc|courit
U*.S .-Treasurer-general Recount
Foreign
Othe:r
Total deposits
Deferred a v a i l a b i l i t y ii^emsr ••
Other l i a b i l i t i e s , i n c l u d i n g - a o e r u e d
dividends
TOTAL LIABILITIES
C A P I T A L A C C j Q P^N T S
C a p i t a l paid ift
Surplus ( S e c t i o n 7 l
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 aNDCAPITAL ACCOUNTS
Ratio of gold c e r t i f i c a t e reserves>
to* d e p o s i t and F*R*. n6te
l i a b i l i t i e s combined
Contingent l i a b i l i t y £ n < 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 too make i n d u s t r i a l loans
50.^
li,i;2l t
7 ,''563
15,56973.079
a9O50
- 2-,206
27
+ 3,530
+736,759
+
-.
.2%
Iil3
353
305038
2,863
038097
6,799
8,366
+
88
+
22,8a6
076,596
50%
a, 583
6I42
H.U.l(b)
STATEMENT. OF CONDITION OJ THE FEDERAL, RESERVE BANKS OH MARCH 17,19I+8
( I n thousands of d o l l a r s )
ASS
T S
Total
Gold c e r t i f i c a t e s
Redemption fund f o r
F.R. n o t e s
T o t a l gold c e r t i f i c a t e
reserves
Other qasja',7.
Discounts and advances
I n d u s t r i a l loans
U* S« G o v t * - s e c u r i t i e s :
Bills
Certificates
Notes
Bonds
Boston
21,221;,170 757,^21
> 636,li71
55,710
New York
Phila.
Cleve.
^Rich,
Atlanta
Chicago S t i L o u i s
6,720^1901016,6571556.^381030,1891051,08911196*999
71,702
58,96k
71+.1+10
58,387 :;. 39,116
98,560
Minn. Kans.Cy.
D a l l a s SanFran.
59J6.776' 1+21;, 659" 770,599
510,61+8 2792,005
l+£,265
22,695;
35,258
6^3,039
1+1+7,351+
li+,789
8,526
8,201;
1+,125
805,857
11,9214,
15,225^
562,851 l;3l+,l;73 1231,591 1+78,1+98
278,592 215,056 609,519 236,81+9
115,217
88,91+1 252,078
97,953
366,u.6o .282,886 ,80.1,760 .311,551
25,803
li9,603
{
21,366,6U1
813,631
6,791,392 1075,621 ll;50,8l;8 1088,576 1690,205 1+295,559
561i,507
565,502
5,602
38,5Cli
1U,685
68,159
121,176
8,666,1+01
li,289,725
l,77li»100
5,6lt2,705
582,590
288,573
119,262
579,325
2,078,01*7
1,028,600
1+25,597
1,353,018
25,681
ll+,76l
855
619, Ol+l
3 06,1; 15
126,721;
1;P3,058.
21,5l;0
20,209
29
57,552
55,058
215
850,8^8
Ui1,256
170,085
51*0,966
22,651
7,1;82
2 , 505
58,587
io6>556
5 3 6 , a 5 l 281+1,608
ll+,787
5,091
l;2,5l+9
12,li08
265,270
151,305
51;, 505
172,717
1+05,91+9 592,755
199,9^8 I9l+,li05
80,1+01
82,695
255,722
265,012
786,710
589,1+07
161,01+8
512,228
T o t a l U,S. Government
se[QurTties
~~
20,572,929:1569,550
44,885,062 11+55,238 1955,155 1525.100 1021,356 289li,7^8 1121|,851
625,595
9^9,602
925,281 131+9.593
T o t a l loans and
securities
2 0 , 7 3 9 , 8 5 3 156l*,235
5,006,238 11+70,851+ 1986,1+26 1315,538 1031.3M 5001,301; 1155,577
627,720
961+,827
928,572 1861,801
2
5,558
75,792
1,205
5,985
5
5,282
I61+,2l4l
2,1+39
6,051+
5
5,091;
11+7,915
789
5.821
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 i t e m s
Bank premises
Other a s s e t s
TOTAL ASSETS:
6
95
.
5
,
1
6
5
121,798
3,lt.56,8,01 260,^27
32,836- •
1,251
131,621
8,971
8
1 / 51
5,285
. 2:0,1*29
695,521 228,650
5,171
8,202
8,980
50,819
9
5,505
560,026
1,909
12,690
5
16,1+25
288,089
2,621;
8,501
k
• 15,583
220,295
1,553
6,707
,3
13
1-5,301 - 7 , H 3
586,575 132,008
1,961+
3,056
7,602
19,150
8
15,281;
279,262
1,701
12,51;!
1+6,68,7,952 2511,96a 12,621,291 28ie,2l;8 3837,91*5 2768,896 2388,559 7979,559 1939.895 1167,598 1960,627 1639,252 5051+.551+
l / A f t e r , d e d u c t i n g - $6h ,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
EU.l(c)
LIABILITIES
F e d e r a l Reserve n o t e s
Deposits:
Mexaber b a n k - r e s e r v e a c c t ,
U.S.Treasurer-general a c c t .
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 d i v i d e n d s
TOTAL LIABILITIES
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:
STATEMENT (F CONDITION OF THE FEDERAL BEtfEftVE BANKS ON MARCH 17, 19U8
( I n thousands of d o l l a r s )
Total
Boston
New York
Phila#
Cleve*
Rich. A t l a n t a Chicago S t # L o u i s
23,9Hi,237 11*27,331; 5,i*81,978 1635,508 2o81,61*0 1651,398 1339*870 U5^0,321± 1099,166
17,350,679 738,569
:.677*263- 32,820
29,477
525,353
1*81, l2o
2,678
19.03^,1*15 803,544
2,989,585- 233,245
5,521,759
183,2o6
839,361* 1257,021*
30,027
83,565
?
49,440 753,691 2637,097
52,862
25.96U
97,193
37,811 42,945
1/207,80it
22,873
19,139
63,485
8,574
liQ.9,356
7,386
1,519
4,793
1,059
6,322,125 908,261 1392,106 832,561 800,336 2852,568
587,167 21U.U59 294,809 246,665 216,028 484,770
Minn# Kans*Cy#
616,138
928,800
D a l l a s SariFran*
59^,239 2517,892
622,387 422,727 820,502 83P,344 2107,772
39,216
4o,942
28,850
26,176 36,424
15,871 1*1.-135
16,805
11,670
16,338
5,415
1,684
2,226
500 35,930
685,51*9 1*61*.931 865,242 883,139 2224,053
126,832
66,579 138,512 131*. 7 0i* 245,815
1,288
600
890
1,602
764
14,550
3,652
882
655
644*65
2,459
649
45,952,837 2465,005 12,394.922 2759.118 3770,157 2731,388 2356,878 7880,121 1912,196 1148,113 1933,154 1612,737 4989,048
197,700
11,304
69,061
14,526
18,942
8,415
7,700
24,071
6,488
4,356
6,716
7,592
18,529
14,111
38.952
1*1*8.189 28,117
138.596
35,550
42,173
21,210
19.110
66,217
16,972
1-1,233
16,148
1,307
2,140
27,543
3,011
7,319
4,489
1,006
3,349
762
1,429
521
-1,073
1.137
5,685
7,701
3,718
2,823
3,1*72
3,485
61,-663
4.531
11,393 , 4,765
5,667
4,534
3,689
46,687,952 2311,968 12,621,291 2818,248 3837,945 2768,896 2385,339 7979.539 1939,395 1167.593 1960,627 1639,232 5054,354
ontingent liability on bills purchased
for foreign c o r r e s p o n d e n t s
2/1,416'
358
407
217
181
602
159
111
155
4,424
589
150
*79
0cmmitments t o make i n d u s t r i a l
loans
133
1,032
1,579
129
-16
- 344
580
—
3,750
7,563
—
F» R. n o t e s outstanding;
24,791.293 1492,406 5.718,771 1682,032 2166,044 1710,690 1388,155 4619,233 1143,396 636,710 952,755 625,030 2656,071
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
200,000 260,000 169,000 2100,000
13.339.000 460,000 4,470,ooo 550,000 735,000 625,000 675.000 2760,000 315,00c
E l i g i b l e paper
600
10,290
112,738
5,802
5,450
74,l*4i
13,300
4,855
U.S.Govt, s e c u r i t i e s
12,700,000 1100,000 1500,000 1200,000 1500,000 1150,000 750,000 1900,000 950,000 450,000 700,000 500,000 1000,000
MATURITY DISTRIBUTION OF LOAKS AND SECURITIES
6 months
6lto
1 to 2
Within
16 t o
31 t o
Over
2 tc 5
91 days t o
90 days
5
years
t
o
1
year
'otal
15 days
, 3 0 days
60 days
y
e
a
r
s
years
6 months
Discounts and advances
363,302
230,922'
39,928
58,315
72
17
34,048
I n d u s t r i a l loans
21
141
3,602
19
3,382
—
23
4
U.S. Govt, s e c u r i t i e s
5,078,330
3,017,067
3,-536,229
20,372,929 2,781,969
1*45,359
1,305,856 2,070,252
2,137,867
l / A f t e r d e d u c t i n g $317,424,000 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.
2 / After deducting
$3,008,000 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.
@FedFRASER