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BOARD OF GOVERNORS <F •-THE FEDERAL RESS-RVg SYSTEM (Released f o r P u b l i c a t i o n F r i d a y morning, May lU, I9U8) HJ4.I May 1 3 , I9I18 CONDITION OF THE FEuERAL RESERVE BANKS * D u r i n g ' t h e we^k'elided May 12 member bank res'erve' b a l a n c e s i n c r e a s e d $5U,000,000 # A d d i t i o n s t o member bank r e s e r v e s arose from . i n c r e a s e s of $182,000,000 i n Reserve Bank * c r e d i t !and $1*9,000,000 i n gold stock and d e c r e a s e s of $10,0.00,000 i n T r e a s u r y ' c a s h arid $19,000,000 i n nonmember d e p o s i t s a n d . o t h e r Federal Reserve a c c o u n t s , o f f s e t i n p a r t by an i n c r e a s e of $205,000,000 i n ' T r e a s u r y d e p o s i t s w i t h F e d e r a l Reserve Banks,- Excess r e s e r v e s of iriember banks, on May 12 were e s t i m a t e d /ta Me a p p r o x i m a t e l y $930*000,000* Holdings of l o a n s , d i s c b u n t s and advances i n c r e a s e d $19,000,000 and United S t a t e s Government s e c u r i t i e s i n c r e a s e d $97,000,00-0, The i n c r e a s e i n h o l d i n g s of Unit-eel 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 i n c r e a s e s .of $88,000,000 in bonds and $86*000-,000 i n b i l l s and d e c r e a s e s of $61,000,000 i n c e r t i f i c a t e s and $l6,Q0Q,.t)0O.in n o t e s . Changes in member bank r e s e r v e b a l a n c e s and r e l a t e d items d u r i n g t h e week and t h e year ended May 12, I9I1Q, were as follows * ' I n c r e a s e ; or d e c r e a s e since May 12, 1-9U8- May 5, ; May -^M lk, I9i47;: ' ( I n m i l l i o n s of d o l l a r s ) U. Sif Government s e c u r i t i e s Loans, d i s c o u n t s and advances Other Reserve Bank c r e d i t 20,31*8 ' '251 U39 + + + T o t a l Reserve Bank c r e d i t Gold s t o c k Treasury currency 21,038 23,225 U,56o * + + - 1 Member bank r e s e r v e b a l a n c e s Mqney i n c i r c u l a t i o n T r e a s u r y cash T r e a s u r y d e p o s i t s w i t h F* R, Banks Nonmember ' d e p o s i t s and o t h e r F , R . a c c o u n t s 17,087 27,762 1,319 1,319 1:336 •f 5h 97 19 6 ? 182 k9 -i,UiU + + -1,195 +2.3JU7+ - 10 205 19- l +1,138 ~ + 110 110 372 18 + 763 - 358 H.U.l(a) STATEMENT OP CONDITION OF "THE Tl^LVB-FEDERAt; RESERVE BANKS COMBINED ( I n -thousands of d o l l a r s ) I n c r e a s e or decrease since May 12, . • f19U8 Hay 5, 19^8 May 1U, 191*7 A S S E T5 Gold c e r t i f i c a t e s Redemption fund f o r *'. R. riotes 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 Motes Bonds T o t a l U. S. Government securities 2X,3U2,170 625,016 21,965,186 286,656 250,183 878 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, iiotes of o t h e r banks U n c o l l e c t e d items Bank premises Other a s s e t s L I A B I L I T I E S +2,131,9914 9l*»383 +2;,337,611 + 27,233 + 110,693 792 85,950 61,000 15,900 88,102 - 7 , oil*, 836 -l,5l*.5.975 +1,605,000 +5,51*1,830 2o,3l*8.1*6fc + 97,152 -l.fc.13,981 20,599/525 . 1*9 106,386 2,81ii,U06 32,6^52 16U.172 +ll6,o!*0 + 10,057 +289,295 3 + 5,233 -i,3oi*,o8o 53 + 11*,035 + 73,091 + 571* + 117,812 1+5,969,032 +U55.725 +1,266,223 23,65i*,3l+8 - 12,572 -. 17,086,71*5 . 1,319,1*91* 371*. 276 i 1*17,898 a9.i98.lti3 5 2,375,557 <• 16,393 ; 1*5,2I4*,711 + 53,1*31* +205,608 + h,2kk - 22,037 +21*1,2i;9 +222,815 +1,137,792 + 763,336 - 199,167 75,003 +1,626,958 36,51*5 + 501 +1*51,993 + 2,580 +1,233,91*8 + 30 198.055 itl48,.l89 ... 27,'51*3 + 3,702 50^531* ii5,969^032 > +1*55,725 + 6,735 + 8,366 + 88 + 17,086 +1,266,223 7.9Wi,701 i*,i65,7l*3 1,956,800 6,281,220 mi 1 -.+ + " • »!'•» i l »n •WWII . 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 iteuis 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 Capital 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 accounts 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, n o t e l i a b i l i t i e s combined Contingent l i a b i l i t y • o 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 t o make i n d u s t r i a l loans 50,000 3,957 l*6,oi*'3 10,9^0 19,698 810 V * '• TOTAL ASSETS '+ '+ + 51.3% 3,275 6,616 359,01*5 !*.¥ .1% 88 9 3,896 1*61* H.ii.l:(b) .STATEMENT OF CONDITION OF THE FEDERAL RESERVE-'BANKS ON'MAY 12, 19^8 (In, thousands of •d.ollars") A S S E T S Total Gold c e r t i f i c a t e s Boston New York 21,31*2,176. 820,252 Phila. ': F, R. notes '625,016, 52+.917 T o t a l gold c e r t i f i c a t e • ''• reserves Other cash Discounts, and advances Industrial loans U. S. Govta' s e c u r i t i e s : Bills •'" Certificates Notes i-l VaM.XVi.lt> - 68,199 " ; Chicago S t . Louis ,... _ Minn. Kans..Cy. 57,602 73,2+22 583,872 5u,7lo D a l l a s SanFran. 2+30,2+65 'nth,ko6 52.1,90I* 2755,22*o c '- . ' 38,§97 97,739 *i5,979 v 22,583 35,026 25,639 2+8,905 \ 21,965,186 286,656 875,169 38,02*8 6,753,308 1089,855 12+62,2+88 lo62+,056 1122,?ii2 14.353,571 629,351 2+53.02*8 ,'809,1*32 8,869 58,2+2*3 12,772+ 29,81+1 18,160 19,582 33,586 10,302 6,52t3 250,183 878 22,866 86,388 16,82+0 575 52,761+ 25i* 12,623 2+9 7,92i2+,701 532+,075 1,902+,996 567,2+QO 761,658 515,961 10.29B '6,033 17,706 2*38,651 22+3,179 370,310 36o,o2+6 721,196 2+, 165,72+3 280,037 998,371 297,560 599,370 270,539 2oe,8l+2 591,902 230,003 127,509 194,170 188,767 1,956,800 131,5242+ 2*69,205 139,77a 187,598 127,083 98,100 278,038 l08,oI.,i 59,896 91,208 88,680 6,281,220 1+22,22*9 1,506,123 2+2*3,667 602,181 2+07,926 31*1,696 892,1*86 32*6,805 192,262 292,77!* 232+,659 378,153 177,633 570,190 , \ 7,2?1 22,502 398,292 1128,81+7 '. 10,592 52+7,52*5 280l*,l2+5 10,692 39,316 2+,300 -" U „S, Government securities' Rich.: A t l a n t a 6,685,109 1032*253 1389,066 1009,326 1082*,2+2+5 u255,832 Redemption fund f o r -T o t a l Cleve, \ , * 20,32*8,2*61* 1367*905 2+,879,195 12*55,2*91 1950,307 1521,511 i02o,..13a 2891,;273 1123,500- 622,82*6 92*8,2+62 .922,172 •• " - " ' " • ii ' ••'»' • " " , "iii •• M.i.i i n n 1 H I 1 • •• •' • - .;• •'•' '• i- 1 "" '" Ji' '• 11 " . 1 il< ' 1 w 1 11 1 -ini.tii.j. » • ! n . n IP • i» • ii i i 1 . ii 11 ••- . ,1 • i. . '1 m ' • ! ) " 1 182*7,172 . u 1 1 • 1 n T o t a l loans and securities" 20,599,525 1390,771 2*,965,583 li+70,906 1983,825 1334,183 1027,2*01 2913,775 1132**092 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 " ^ 106,386 ' 3 '" * l / 1 6 ' i+,228 •"••"'' I&M5•-'- 2,8l2+,2+o6 22*1,219 Bank premises 32,652- i;222 other assets 162*., 172 11,053 . TOTAL ASSETS' .II . mi . . • „ • , . . ,1 I.„I . 1 ! - 2* 2+ l , 9 ^ 8 ' "' 5,99)$ 548,233,'• is?.,2*78 285,363 8>173•' ' ., : . 38,611 . 1, ^ ,, . • ; : 2 11,1+88 v': 2 i. . 7 ' 11,680.'"' ! 15,01*7 237,753 182,771 2*2o,3B9 3il32 • i+,883 -> 2,610 1,52*6 11,32*7 15,659 8,258 . 22,957 •• •. • .11 — • „ . 10,970 . .. na. .II^ • .1- -3,035 py.,...^-., . , . .,. 627,li*6 958,760 M 923,205 1862*,878 2 8,374 -'i 4,022 129,331 68,616 136,2+93 129,663 1,957 1,198 2,2*27 701 1,688 7,527 8,186 15,139 ; •• 2 • • 2 6,282* i+,619 9,335 . ,2*,.93P . •• I.I t ., ., , . ,.. .,,_ ,1, .^ • 1 .II, 2* 12,785 22*7,097 - .... 2+5,969,032 2561,713 12,389,2*82 27si>,2+2*2* 3788,059 2679,202^2373,982 7762,367 1923] 22*2+ ll65,.5Q2+ 1929,794 1629,69-1 2*985,550 . l / After deducting $33,000 participations: of'other Federal Reserve Banks.. Hjj.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAY 1 2 , 19^8 L I A B I L I T I E S ( 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 Minn. Kans.Cy. D a l l a s SanFran. F e d e r a l Reserve n o t e s 2 5 , 6 5 4 , 3 4 8 li*22,9l*8 5,410,1*52 1617,951 2066,950 l 6 l l * , 3 l 9 1518,1*4*9 4506,576 1082,1*75 612,065 917,250 590,259 2 ^ , 6 9 6 Deposits; Member b a n k - r e s e r v e a c c t . 1 7 . 0 8 6 , 7 4 5 756,051 5 , 5 5 1 , 7 1 6 790,570 1269,155 72l*,025 756,21*1 2575,81*1 615,705 1*11,653 796,597 825,780 2055,455 515,449 124,291 125,827 80,287 75,501 182,654 65,871 54.900 58,921+ 56,025 76*1*07 U . S . T r e a s u r e r - g e n e r a l a c c t . 1,519.494 109.580 Foreign '574,276 21,785 l/l59.762 27,921 51,712 16,890 14,155 46,879 12,409 8,618 12,061* 11,720 50,585 1,825 " 5 5 8 , 6 6 5 1,522 6,017 2,669 985 2,057 4,794 1,61*9 1.459 1.585 54,895 Other 417,898 Total deposits. 19,198,2*15 Deferred a v a i l a b i l i t y items 2,575,557 Other l i a b i l i t i e s including accrued dividends 16,595 TOTAL L I A B I L I T I E S Capital paid i n Surplus (Section 7) Surplus (Section 13b) other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 962 2*, 52*2 944.30l* 1450,689 158,781 222,099 1,069 1.652 825,871 205,508 897 82*2*, 658 2805,391 696,777 179.201 550,108 116,074 722 ; 2,1*70 7^6 476,800 56,987 545 869,02*1* 894,906^197^140 115,795 117,869 227,9*k 619 665 1,506 ' '• ' " ~"~" 1*5.969.052 2561,715 12,389,1*82 2780,1*1*1* 5738,059 2679,202 2575,952 7762,567 1925.21*1* 1165,501* 1929,794 1629,691 i*985,55o Total 6,51*5,592 405,109 i*5,2l*2*,7ii 2515,2*65,12,165,695 2722,085 5721,590 262*2,395 251-5,030 766^,545 1896,072 111*6,395 1902,666 1605,697 4921,256 198,055 11,511 69,155 14,543 18,974 8,If38 7,75122*,096 6,509 " 4,561* 6,775 7,618 18,565 448,189 28,11? 158,596 55,550 1*2,175 21,210 19,110 66,217 16,972 11,255 16,11*8 11*,HI 58,952 27,545 5,011 7,519 4,1*89 1,006 3,3^9 762 1,1*29 521 1,075 1.157 1,507 2,il*o 50.534 ' 3.809 8.739 3,977 4,516 3.810 5,549 6,08o 3,170 2,1*59 3,048 2,958 1*,659 Contingent l i a b i l i t y on b i l l s purchased for foreign correspondents 5,2?5 Commitments t o make i n d u s t r i a l loans 6,616 F. R. notes outstanding 22*,i*69,15l Collateral for F.R.notes h e l d by F . R . A g e n t s s Gold c e r t i f i c a t e s 15,279,000 E l i g i b l e paper 71,779 U . S . Govt, s e c u r i t i e s 12,1*25,000 Discounts and advances I n d u s t r i a l loans u.s.Govt. securities 869,22*1 222,511; 250,183 • 878' 2o,5l*8,l*61* 2o6 118 82 115 75 ll*72*,083 502 1,286 159 16 54.1 580 5,61*5,226 1667,1*56 212*5,12*1 1681,657 1565,590 4:578,111* 1121*.690 652,679 3,750 945*285 127 621,1*85 2595,947 2*60,000 " 12,975 1100,000 1*,1*70,000 550,000 755,000 625,000 675,000 2700,000 515,000 55,865 1*. 125 4,850 — 1*,92*0 1,500,000 1200,000 1500,000 1075,000 750,000 1900,000 950,000 MATURITY DISTRIBUTION OF LOANS AMD SECURITIES 16 t o 51 t o 61 t o 9 I days t o 6 months ' 5 0 days 60 days 90 days 6 months t o 1 year 200,000 280,000 575 4,785 1*50,000 700,000 169,000 2100,000 5,890 500,000 1000,000 Within 15 days 2/l,0l*8 265 501 161 154 445 1 to 2 years 2 to 5 years 92,073 " 25,125 51,903 81,059 3 20 '. 527 55 65 168 : 51 1* ll* 16 1,912*,oil* 1,61*7,301 5,155,421 1,898,905 2,196,617 1,374,000 1,080,221 1 / After d e d u c t i n g $25**,596,000 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 $2,227,000 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, 112 Over 5 years —— 5,081,985 288
@FedFRASER