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BOARD OF GOVERNORS .OF TlE^FSDEML:.'REoEhVS_ SYSTEM (Released for Publication Friday morning, March 2*6,19U8) H.I4.I March 25,19^8 CONDITION OF THIS FaDBRAL R ^ ^ S J A N K S ^ During the week ended March-2\\ member:bank reserve balances decreased $lj.81,0Q01000t Reductions in,member bank reserves arose from increases of $781,000,000 in Treasury 4eppsits with Federal'Reserve Banks, $11,000,000 in Treasury cash and:$15,000,000;in,nonmember deposits and other Federal Reserve accounts and-a decrea-se of. $2^0CK),000 in Treasury currency, offset in part by increases of $2142,000,000 in Reserve Bank credit and $16,000,000 in gold stock and a decrease of.$69,000,000 in money in circulation. Excess reserves of member banks" on-March 2k were estim&tj^d to be approximately 8720,000,000.' Holdings; of loans , discounts and advances increased $83*000,000 and of United States Government securities $2314,000,000. The increase in holdings of United States Government securities reflects increases of $129,000,000 in bills, $83,000,000,in certificates, $12,000,000 in notes and $10,000,000 in bonds. Changes in'member bank reserve balances and related items during the week and the year ended March 2I4, I9I4.8, were as follows? Iacrease or decrease since March 2\\9 J.9^8 March 17, Ig^ \ March 26, : , 1^47 (In millions of dollars) U. S» Government securities Loans, discounts and advances Other Reserve Bank credit 20,607 1.50 372 + Total Reserve Bank credit .Gold stock Treasury currency 21,ij29 £3,135 U,557 + Member bank reserve balances: Money in circulation Treasury cash Treasury deposits with F,- E, Banks ilonmember deposits and other E..R.accounts 16,870 27,851 1,336 1,1*58 1//07 + - + _ + + 4. 23U 83 75 - 2,203 + •: 162 '--.. 17 2ij2 16 2 - -2,057 + 2,697 + l 1*81 69 11 781 15 + 1,212 319 19 11*2 90 : H.U.l(a) STATEMENT OF "CONDITION: OF'THE TWELVE FEDERAL RESEkVE. BAlto COIvIBINED (In«thousands of d o l l a r s ) Increase or decrease since Marioh 21*, March 17, 19U8 March 26, 191*7 A S S E T S Gold certificates Redemption fund,for r'Fm Rt; notes Total gold certificate reserves Other cash ] Discouhts and advances Industrial loans U« S* Govt* securities} Bills Certificates Notes Bonds Total U, S, Government securities Total loans ,.4nd 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-v I E* 3 Federal Reserve notes Deposits: v. Member bank-reserve, jabcount 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 A C -C; 0 U N T'S S C a p i t a l paid inSurplus ( S e c t i o n 7) Surplus ( S e c t i o n l j b ) Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL AC COUNT S* 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 foreign correspondents Commitments to, make i n d u s t r i a l loans 2l,25ii,170 • 653,8li:0 21,868,010 J 353,0U6 "'• 1*1*7,1**7 'j 3,1U7 + 10,000 - 2,631 + 7,369 i*55 +2,8i*2,7l*l - 156,251 +2,686,510 + 55.551 + 160,531 2,115 8,79li,90l h,373,175 1,736,200 ,5,652,858 +128,500 + 85,1*50 + 12,100 + 10,155 -6,1*91*811* -2,ol*l*,l*l*5 +l,l*3li,l*oo +1*, 899,1*68 20,607,131* +25l*,205 *2,202,589 2.1,057,1*38 95 116,120 2,866,202 • 32,830 155,1*1*0 +317,595 -5,678 -570,599 - ' 6' + ' lr,8l9 -2,039.7h5 ' 7 + 5,1*08 + 1*02,098 + 628 + 91,511 i*;6,1*27,171 -260,761 + 1.179.756 23,851,226 -; 83,061 311,626 156,869,8^0 .1,1*58,070 510,671 507,1*61* 19,51*6,095 . 2,1*91*,726 -1*80,789 +780,807 - 11*, 682 + 26,31*1* +511,680 -l&k, 8 59 >1 ,212,121 11*2,01*5 52,392 93,785 +1,028,683 «f 1*19,198 16,215 1*5,688,260 + 1,663 -261*, 577 3.006 + 1,139,261 197.71*7 1*1*8,189 27,51*5 : 65,1*52 i 4 6,l*27,i7i 1*7 - 11,261 + 85,81*5 - 6,868 8,366 88 25,173 +1,179,756 + + + 3,769 -260,761 50.6$; U,2l*p 7,887 + 5.1$ 181* 321* U.513 323 H. 14.1(b), STATEMENT : OF CONDITION OB1 THE FEDERAL RESERVE BANKS-ON' MARCH. 2 4 , I9I48 ( I n thousands of d o l l a r s ) A S S E T S Total Gold c e r t i f i c a t e s .Redemption fund 21,254,17.0 New York'; Phila. Sieve. - Rich. Atlanta Chicago S t . L o u i s 7614,598 6,701,0I4I 1041,209 1596,877 I049,06l 1086,:119 4o77:,476 Minn. .JCans.Cy. D a l l a s SanFran. 562,7^5 -1*57,550 '.817,002' 512,11*8 2788,3Ui4 for 655,84"0': F.. R. notes . i Total gold Boston ' J ' ' 55,585 ' 71,135 ' ' 58,71*3; 7ii,247 • 1 57,410 .' 58,970 98,400 : 46,2i4 22,677'_ — : 35,225, 25,765 - '•* 49,475 : certificate reserves other cash; D i s c o u n t s ' a n d 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 : B i l l s ' :< •-. certificates Notes' ' Bonds 2i,868;-01C\ 820,185 555,046' 59,544 6,772,176 1099,952 11471.121+1106,14711125,089 14175,876 608,959 61,880 25,041 514,051 21,l+i47 21+,l+2o 56,089 H+,918 447,14-7 5,147 17,462 129,1+08 14,742 553 26,001 2ll+ 55,362 5I+ 8,7914,901 591,228 2,108,859 628,220 8li5,l67 571,176 1,01*8,609 312,376 1428,299 127,588 1,555,1455 405,784 4,575,175 295,982 1,786,200 120,075 5,652,858 580,008 Total U.S,. Government securities " Due from f o r e i g n Panics F.R. n o t e s " o f o t h e r banks Uncollected items Bank premises other assets TOTAL ASSETS ' 21,057,1428 11402,755 ,95 116,120 2,866,202 32,850 153,1*140 6 .14,716" 225,8146 1,251 8,831 " ' 13* 778 --- 4, i75 17,007 — 5,159 12,986 1+140,915 121+9,650 [4814,709 269,205 [409,959 598,576 799,259 153,859 205,858 198,137 514,674 85,257 80,91+9 175,028 265,1485 256,182 596,985 162,11+6 515,150 219,21*1 621,575 21+1,1*57 89,547 255,798 98,621 285,595 805,205 312,111 -1 * ' " '' 31,904 '9,151 .,9 5 ! 6,12 0 16,885 280,831* 276,297 4,909 ' 2,617 12,645 8,749 654,959 1+ . 15 5 2 : i l , 9 U ~ ' ' i ^ l l t 5 * ' 8,958 $,252 199,1+78 1+28,106 120,664 * 7 1 , 8 5 9 1,552 5,050 ' 1,965'" ; 1,20'5 2 6,783" - 18,909-- 960,519 955,8914 1871,558 977,526 939,053 I88l+,52l* " 5,070,628 11+87,21*5 2ooi,82i 1571,706 101*7,228 5089,529 1150,676 l / 51 8 18,551 -5.526 555*766- r / 4 , 2 2 8 8,-2o2 : j 5 , I 7 1 852,225.557,9112857,817 11,447 14,51*3 142,1+814 161,305 -" 4,94l,22o 1471,968 1975,606 1558,510 1055,098 -29285.026 1156,898. : 650,'7614 2o,607,131* 1585,295 T o t a l Toans and securities- 1*19,256 23u,012 171,2145 116,005 541,94o - 367,119 11,7614 2,566 1460,227 9.U02 7,668 4,103 5. 5 5',818 i*,776 142,851 129,5-62 2,1+1+0 789 6,222 '5,867 8 15,711 262,751 1,701 12,610 46,427,171 2.500,912 12,519,^18.2802,i2o 3811,491 2804,175 2416,478 7785,517 1915,791 1186,967 1998,512 1652,504 5055,586 l / - A f t e r d e d u c t i n g $64,000 p a r t i c i p a t i o n s o f o t h e r F e d e r a l Reserve Banks.. H.1*. 1(c) L I A B I L I T I-E S Total STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MaRCH 22;, 191*8 ( I n thousands of d o l l a r s ) Boston New York Phila. Cleve. R i c h . A t l a n t a Chicago S t . L o u i s 23,831,226 iU2li,5U3 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 . . 1 6 , 8 6 9 , 8 9 b 711*.670 72,915 U . S . T r e a s u r e r - g e n e r a l a c c t . 1,1*58,070 28,620 Foreign 510,671 •2,1425 Other _ ; 507,li62* Total 'deoosits 19,3146,095. 818,630 Deferred a v a i l a b i l i t y items 2,!*9l*,726 209,500 Other l i a b i l i t i e s i n c l u d i n g 966 accrued d i v i d e n d s 16,213 TOTAL .-LIABILITIES 1*5,688,260 21*55,659 Capital paid i n 11,501* 197,7147 Surplus ( S e c t i o n 7) 28,117 14148,189 Surplus ( S e c t i o n 13b) 27.5143 ' 3,011 Other " c a p i t a l a c c o u n t s !*,8l*l 65,U32 TOTAL ^LIABILITIES AND CAPITAL ACCOUNTS .. 1*6,1*27,171 2500,912 Contingent - l i a b i l i t y oh b i l l s purchas 3d f o r f o r e i g n c o r r e s p o n d e n t s . !*,2i*0 267 Commitments t o make i n d u s t r i a l loans 7,887 !•'. R. notes, o u t s t a n d i n g 21*,735,815 11*89,580 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 1 3 , 3 0 9 , 0 0 0 l*6o,ooo E l i g i b l e paper 11*1,951* ' 8,1*55 U.S.Govt, s e c u r i t i e s 12,650^000 1100,000 5,k6h,70Q 1635,1;81 2077.1*28 161*2,880 1*1*7,314 7 309.H4I4 3,ll47 , 2 , 9 2 1 , 20,607,1314 2, 601,581*:. 1*528,519 1092.U51 615,556 922,511* D a l l a s SanFran. 590,568 2506,966 5,1481,573 799,708 1237,236 738,767 727,792 21*811,625 599,1*96 1*08.717 805.617 796.967 20714,922 236,270 115,232 155,358 126,651; 98,305 21*6,609 62,617 65,551 99,9l45 82,885 95,755 1/202,565 56,709 1*1,69!* 22,207 18,561 61,655 16,315 11,330 15,862 15,409 39,9l4l4 "14*2,7514 1,772 7,5149 5,581 1.557 2,1*11* 5,1*56 2.1*07 550 582 5I*, 657 6,362,762 953,1*21 11*1*1,857 895,209 81*67235 2795,285 685,861* 1*88,005 921,972 895,61*1 221*5,256 65,281 125,721 118,895 256,290 1*60,518 "152,8514 222,511 229,1*69 206,216 559,055 108,858 611* 756 1,1*61 982 755 2,750 701 527 865 1,777 l4,H9 12,291,899 271*2,718 57145,355 2766,423 236a,826 7635,567 1885,854 1167,369 1970.821 1605,838 i*989,953 14,357 6,717 7,602 18,551 69,072 11*. 526 18.9a5 6.4IS 7,715 2l*,072 6,1*88 158,596 35,350 Ii2,l73 21,210 19,110 66,217 16,972 11,255 16,11*8 11*, i l l 38,952 1,1*29 521 7,319 l4,!;89 1,006 5,3149 762 1,073 1,137 1,307 2,il*o 12,252 5,037 6,011* I*.775 a,065 8,252 5,956 5,61*6 6,010 2,935 3,689 12,519,118 2802,120 3811,1*91 2S0l*,175 21*16,1*78 7785,517 1915.791 1186,967 1998,512 1652,50!* 5055,586 • vVithin 15 days Tdtal- Discounts and advances Industrial loans U. S. Govt, securities 1351»61K> Minn, Kans.Cy. 2/1,557 5U3 390 208 1714 577 153 1,353 1,579 132 16 5W4 580 5.709,707 1681,151 2l61*,052 1698,1*73 1382,116 1*615,21*5 1138,1*1*6 l*,l*?o,ooo 80,156 1,500,000 550,000 735,000 625,000 1*,520 — 26,355 1200,000 1500,000 noo.'ooo 16 t o 50 days •59.555 1,179.0714 675,000 2730,000 — — 750,000 19UO,QOO :-2i: 5,251,699 I i!*6 5,561*,829 ll*8 5.750 655,61*8 9149,705 ilia 373 155 625,265 2650,1*67 515,000 200,000 280,000 169,000 2100,000 600 12,21*0 1,000 8,650 1*50,000 700,000 500,000 1000,000 950,000 MATURITY DISTRIBUTION OF- LOANS AKD SECURITIES , 91 days to 61 tO ; 51 t o 6 months 6 months 60 days t o 1 year 90 days 12 51,630 9,659 3l4,187i 23 2,282,987 106 k 2,213,117 1 to 2 years 12 - 2 to 5 years 20 145L859 l / A f t e r d e d u c t i n g $508,176,000 p a r t i c i p a t i o n s of other F e d e r a l Reserve Banks. 2"/After deducting $ 2 , 8 8 5 , 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, Over 5 years 5081,985
@FedFRASER