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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM March 2, 1950 (For Immediate Release) H.4.1 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended March 1, member bank reserve balances incieased $112 million. Additions to member bank reserves resulted from increases of $362 million in Reserve Bank credit and $2 million in Treasury currency, offset in part by increases of $175 million in Treasury deposits with Federal Reserve Banks, $4l million in money in circulation, $30 million in nonmember deposits and other Federal Reserve accounts and $5 million in Treasury cash. Excess reserves of member banks on March 1 were estimated to be approximately $920 million. Holdings of loans, discounts and advances increased $220 million and of United States Government securities $132 million, the latter change reflecting increases of $562 million in notes and $120 million in bills, and decreases of $503 million in certificates and $4-7 million in bonds. Changes in member bank reserve balances and related items during the week and the year ended March 1, 1950 were as follows: Increase or decrease since March 1, 1950 Feb. 21, 1950 March 2, 1949 (In millions of dollars) U. S. Government securities Loans, discounts and advances Other Reserve Bank credit 17,757 316 381 +132 +220 + 10 .4,080 + 74 + 39 Total Reserve Bank credit Gold stock Treasury currency 24,345 18,454 +362 2 -3,968 + 55 + 13 Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R. Banks Nonmember deposits and other F. R« accounts 16,288 27,060 1,316 555 2,180 +112 + 41 + 5 +175 + 30 -3,396 - 497 4 - 322 + 319 4,600 «. — + H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since ASSETS Gold certificates Redemption fund for f. R. notes Total gold certificate reserves Mar. 1, 1950 22,582,431 537,920 23,120,351 a. Feb. 1950 + Mar. 2, 1949 3 + 153,997 - 79,014 + 74,983 46,506 Other cash 311,279 - 5,423 Discounts and advances Industrial loans U. S. Govt, securities: Bills Certificates Notes Bonds Total U. S. Government securities 313,500 2,411 +219,263 + 225 + + 3,873,224 5,781,450 1,262,500 6,839,700 +120,300 -502,900 +561,900 - 47,000 -1,320,686 - 647,319 + 915,450 -3,028,027 17,756,874 +132,300 -4,080,582 Total loans and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets 18,072,785 33 106,549 2,730,309 34,245 117,978 +351,788 - 7,962 +127,940 87 - 1,124 -4,007,136 16 - 13,956 + + 44,493,529 +465,135 -4,002,433 22,968,766 + 31,237 - 555,057 16,287,724 554,859 884,996 558,912 10,206,491 2,349,581 +174,672 + 229 + 24,627 +311,639 +112,111 +118,218 -3,396,669 - 321,868 + 134,679 + 76,560 -3,507,298 + 469 +459:815 1,442 -4,063,328 TOTAL ASSETS LIABILITIES Federal Reserve notes Deposits: Member bank-reserve account U. S. Treasurer-general account Foreign Other Total deposits Deferred availability items Other liabilities including accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Commitments to make industrial loans 9,965 43,614,803 214,640 488,173 27,543 148,370 44,493,529 56.0# 7,864 1,169 218 + 5,102 +465,135 .5# 262 565 - + + 71,800 1,646 39,011 2,066 50,879 11,160 21,462 + 28,273 -4,002,433 5.1$ 4,159 462 H.4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 1, 1950 (in thousands of dollars) ASSETS Total Gold certificates Redemption fund for F. R. notes Minn. Kans.Cy. Dallas SanFran. 853,940 7,205,438 1229,360 1567,311 1058,648 1008,518 4341,564 695,475 479,757 851,676 666,775 2623,969 Boston 50,467 Total gold certificate reserves Other cash Discounts and advances Industrial loans V* S- Govt, securities: Bills Certificates Notes Bonds Total U.S.Government securities — «xr ; S S ^ TOTAL ASSETS % 45,547 Phila. 47,086 Cleve. 57,965 Rich. Atlanta Chicago St.Louis 49,319 38,901 80,678 42,561 22,185 34,478 26,850 41,883 904,407 7,250,985 1276,446 1625,276 1107,967 1047,419 4422,242 738,036 501,942 886,154 693,625 2665,852 311,279 313,500 2,411 24,916 15,305 71,461 183,588 18,282 4,499 2,206 902,818 257,573 3,873,224 267,020 384,473 1,347,609 5,781,450 398,573 83,957 294,279 1,262,500 87,037 454,847 1,594,279 6,839,700 471,529 27.955 14.956 1 19,232 10,441 107 7 % 20,844 5,190 41,832 21,869 " 5,554 6,045 97 11,054 4,586 14,718 1,646 43,129 36,298 951,129 2692,7% 979,487 549,380 823,972 806,073 1616,852 4,322,573 1 1 8 7 , 5 5 5 1660,948 1157,749 956,319 2 7 1 4 , 6 6 4 988,564 555,522 828,558 807,719 1653,150 as 2^ m AS as ksg 22!;$ 12,302 9,077 359,032 250,234 207,465 587,367 213,651 119,834 179,729 175,825 352,676 535,917 373,516 309,678 876,745 318,910 178,873 268,277 262,449 526,430 69,641 39,060 58,584 57,311 114,957 117,029 81,565 67,624 191,456 634,013 441,886 366,362 1037,227 377,285 211,613 317,382 310,488 622,789 17,756,874 1224,159 4,138,985 1180,850 1645,991 1147,201 1 8 , 0 7 2 , 7 8 5 1239,464 5 New York Ji'M m d 263^ A6:®* J : * ! J :::: J: AS? g i « ; g 44,493,529 2403,682 12,193,574 2681,151 3598,103 2525,426 2233,790 7666,496 1890,588 1142,429 1892,729 1649,498 4616,063 1/ After deducting $23,000 participations of other Federal Reserve Banks. H.4.1(c) L I A B I L I T I E S STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS "ON MARCH 1, 1950 (in thousands of dollars) Minn. Kans.Cy. Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis 22,968,766 1370,359 5,245,851 1601,626 2011,074 1535,123 1269,313 4432,677 1062,187 604,779 910,052 Federal Reserve notes Deposits: Member bank-reserve acct. 16,287,724 673,131 5,402,094 748,701 1154,799 666,404 45,210 90,792 37,545 51,923 34,137 U.S.Treasurer-general acct. 554,859 55,358 1/282,188 70,296 79,962 43,935 Foreign 884,996 3,330 489,672 1,326 4,508 5,817 Other 558,912 687,872 2547,083 32,876 65,254 36,905 121,261 3,544 590,153 390,451 746,836 42,347 41,094 27,424 31,633 21,968 32,512 2,241 1,952 7,026 998 Dallas SanFran. 2302,194 623,531 810,290 35,958 1869,910 50,299 30,755 78,223 785 37,713 Total deposits 18,286,491 777,029 6,264,746 857,868 1291,192 750,293 761,197 2735,550 671,159 454,511 809,013 877,788 2036,145 Deferred availability items 2,349,581 199,308 419,812 152,310 213,978 193,012 163,802 375,328 121,860 58,910 139,002 114,613 197,646 Other liabilities including 4o4 422 1,746 510 2,447 342 559 1,263 383 363 769 9,965 757 accrued dividends 43,614,803 2347,453 11,932,856 2612,363 3517,507 2478,938 2194,734 7545,301 1855,610 1118,542 TOTAL LIABILITIES 9,402 8,584 27,308 7,122 4,868 214,640 12,084 72,956 15,318 19,901 Capital paid in 148,149 38,205 45,957 23,779 21,194 72,029 19,118 12,494 488,173 30,778 Surplus (Section 7) 1,006 3,349 762 1,429 521 1,073 27,543 3,011 7,319 4,489 SSCrplus (Section 13b) 148,370 10,356 32,294 10,776 13,732 9,958 8,516 20,429 8,217 5,452 Other capital accounts TOTAL LIABILITIES AND 44,493,529 2403,682 12,193,574 2681,151 3598,103 2525,426 2233,790 7666,496 1890,588 1142,429 CAPITAL ACCOUNTS Contingent liability on acceptances purchased 7,864 629 283 495 2/2,470 716 393 330 1,085 197 for foreign correspondents ommitments to make 469 446 13 113 1,169 industrial loans 23,712,686 ?.R. notes outstanding 1419,286 5,402,112 1647,933 2086,357 1597,135 1317,344 4510,824 1101,979 613,782 ollateral for F.R. notes held by F.R. Agents: Gold certificates 14,249,000 440,000 4,670,000 750,000 1000,000 670,000 675,000 2950,000 400,000 210,000 Eligible paper 12,546 237,442 167,835 995 — 8,251 — 7,500 4,950 10,700,000 1100,000 U.S. Govt, securities 900,000 1000,000 1150,000 1000,000 700,000 1600,000 800,000 450,000 Discounts and advances Industrial loans U.S. Govt, securities Total 313,500 2,411 17,756,874 1858,450 1616,295 7,647 18,045 1,137 7,450 l6 to 30 days 7,596 4536,754 20,677 1,307 7,250 2,l4o 13,940 15,873 42,552 1892,729 1649,498 4616,063 291 275 700 933,914 654,623 128 2427,397 280,00c 204,000 2000,000 2,965 — 32,400 700,000 50c,000 800,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES 1 to 2 2 to 5 91 days to 6 months To" to 31 to years years 6 months to 1 year 60 days 90 days 37,840 1,570 6 86 8 12 280 687 227 1,105 .674,116 1,137,088 1,201,503 38,617 2,777,000 2,929,650 711,800 2,253,600 1/ After deducting $602,768,000 participations of other Federal Reserve Banks. 2J After deducting $5,394,000 participations of. other Federal Reserve Banks. Within 15 days 266,494 8,773 Over 5 years 4,733,500
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