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BOaRD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released f o r P u b l i c a t i o n "Friday morning, May 16; not e a r l i e r ) H.Ii.l May 15, I9U7 C0NOITI0N OF TIjE FEDERAL RESERVE BANKS During, the >e ; ek ended May ll; member bank r e s e r v e b a l a n c e s i n c r e a s e d $ 7 2 i 0 0 0 , 0 0 0 . A d d i t i o n s to member bank r e s e r v e s arose from increases- of "$67,000,000 i n gold s t o c k and $3,000,000 i n Reserve Bank c r e d i t and d e c r e a s e s of $90,000,000 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 and $63,000,000 i n money i n c i r c u l a t i o n , , o f f s e t i n p a r t by i n c r e a s e s of $9,000,000 i n Treasury cash and , $150,000,000 in'nonmember d e p o s i t s a n d / o t h e r F e d e r a l Reserve a c c o u n t s . Excess r e s e r v e s of member .banks on May llj. were e s t i m a t e d t o be approximately $810,000,000. Loans, d i s c o u n t s and advances i n c r e a s e d $38,000,000, while holdings of United S t a t e s Government s e c u r i t i e s decreased $90,000,000. The r e d u c t i o n i n holdings of-United. States; Government s e c u r i t i e s , r e f l e c t s d e c r e a s e s of $136,000,000 i n b i l l s and $llj.,000,000 i n bonds-and an i n c r e a s e of $61,000,000 in c e r t i f i c a t e s . Changes i n 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 during the week and the year ended May ll;, I9I4.7, were as f o l l o w s : I n c r e a s e or decrease since Hay Ik, 19U7 May J9 19U7 May 1% 191+6' (.In m i l l i o n s of d o l l a r s ) - ' U, S; Government securities Loans, discounts and advances Other Reserve Bank credit 21,762 1U1 329 Total Reserve Bank credit' Gold stock Treasury currency 22,233 20^878 U,559 Member bank reserve balances Money in circulation Treasury cash:-Treasury deposits with F. R. Banks' Honmember deposits' and other F^R, accounts 15,9^9 28,13U 1,337 556 l,69li + + + + - 5h - 898 -' 6 - 116 3 -1,019 90 38 67 1 72 63 + 9 - 98 + 150 +• - + + 633. 25 + + -. + + 297 18k 928 52 5k H.k.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) I n c r e a s e or decrease since May Ik, 19U? May 15, I9h6 May 7, I9hl ASSETS Gold c e r t i f i c a t e s Redemption fund for J?. 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 18,910,176 717,399 19,627,575 259,U23 139,^90 1,670 Other cash Discounts and advances I n d u s t r i a l loans Acceptances purchased 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 s e c u r : j ^ +1,561;, 116 + 59.998' - 1,889 • '30,212 + 58,109 +1,533.904 37,981 + 3,903 + 38,036' 5.634 + 258 + 584 — 17.070 * 1U,959,537 -135, &5k 5,711,718 ••+ 60,500 — 351*800. 739,390 - 14,000 2X/762,W*5 " - 89,354 e s 1 '+1,268,072 . - .615,378 -l,386;Uoo - 163.552 - 897,258 . 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 ' b a n k s F» R, n o t e s 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 21,903,605 "•' - 50,734 --102 + 1,501 92,351 +552,306 2,7Ui,3i5 — 32,078 1I6,36O . + 1,708 - ., TOTAL ASSETS hk,702,809 +566,793 + . 801,165 - 57.458 + 71,980 - 97,739 +119,077 + 29,746 +123,o64 '• + 62,967 + + + 296,52!; 52,021; 112,343 68,632 +1+98,337 + + 30i;,837 365,749 + 1,051 , +564.994 ! + + 674 734,227 + + + +: - 9,449 81,468 27 214,006 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 bank - 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 o dividends <' TOTAL LIABILITIES l C A P I T A L A C C 0 UN TS 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 accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificate reseryes to deposit and F, R. note liabilities combined Contingent liability on bills purchased for foreign correspondents ; Commitments to make industrial loans 919,7014 8 31,838 + '266,731 943 8,996 t 2U,013i393 * • ' 15,9^8*953 556,153 ' 573,443 k92;90l ' 17.571.U55 2,1*12,102 - 13,813 . 44,010,763 191,320 "439.823 27,455 33,448 Uh,702,809 47*2/0 ? . 17.1 ',080 Ul + — 1.758 . 801,165 +566,793 + .1% + - .555 t 7,171 - 84 + 5.235 3*396 STATEMENT OF CONDITION OP THE FEDERAL RESERVE. BANKS ON MAY 14, 1947 (In thous.ands of dollars) A S S E T S Total Gold certificates Phi la. Bpston.. Hew York 18,910,176 718,058 5,551,464 Cleve. Rich. Atlanta Chicago St. Louis- *l3inn.'-.Kans".Cy. 354,099 1147,1 16 9l;8,725 946,935 4237,194 558,052 381,45i '641,515- h50,270'.21195,501 Redemption fund for F. R. notes '" " 717,399. 54,754 116,525 19,627,575 772,792 Other cash '-•'•' 21,216 259,425 D i s c o u n t s ' a n d advances 16,724 159,490 I n d u s t r i a l loans 1,670 15 U. S. Govt.' s e c u r i t i e s : B i l l s ., 14,959,557 9 6 7 , 0 7 5 Certificates 5,711,718 592,655 Notes 551,800 24,184 Bonds •; 759,590. 50,829 5,667,989 T o t a l gold ; c e r t i f i c a t e reserves. •- - Total U.S. Government securities T o t a l loans and securities Due from f o r e i g n banks Dallas SanFran. 59,629: 75,289 56,576 895,728 1222,405 1005,099 58,162 45,671 17,152 15,068 1,655 23,904 16,358 15,596 16,619 5 , 8 5 6 , 2 7 1 1156,220 1506,858 1,465,546 406,758 511,745 90,267 25,052 51,520 66,246 139,717 . 52,655 •• 981,061 551,506 21,650 45,505 44,159 81,751; 45,709 991,094 4518,948 603,761 21,656 2,878 13,100 5,o48 • 26,078 6,380 794,012 1646,706 293,101 764,053 18,053 47,060 57,943 93,907 763,843 295,428 18,196 30,245 , 5 , 6 0 1 , 8 0 1 1620,663 2116,367 1399,720 1145,109 2556,726 1115,710 - 21,762,445.1454,741 21,903,605' 1451,480 102 : *.$ F.R.notes of other banks 92,351 2,973 Uncollected items 2,741,315 229,665 5,647,472 1635,536 2132,705 1416,^359 1145,987 2563,6p6 1120,758 l/55 89 5 ..,434 4 17,174 585,959 4,715 4,986 9/293 lo,59V -12,262 • 7,707 165,628 274,884 238,o4i 180,491';42"0,156'. 128,478 21,283- - 5 5 , W ; - 24,4l0. 104,117 402,734 674,727 5,701 6,320 •8,697 5,278 424,076 163,594 10,064 21,152 722,747 264,555 16,295 54,247 587,134 1575,554 2 5 5 , 2 7 6 547,725 15,723 35,756 55,046 70,904 618,686 1057,844 891,179 2225,899 474,680 2599,618 11,129 88.6 37,032 3,780 625,006 1045,122 892,065 2229,679 5 4* 3 9 2,686., 5,903. 5,94l 10,119 64,658- 135,560:" 109,559 210,236 Bank premises 32,078 1,278 8,386 3,132 3,815 2,658 1,511 5,052 1,995 1,22 9 2,497' 784 1,765 other assets 46,366' 3,167 11,183 2,918. 4,384 5,ooi 2,56a 6,141 2,765 1,527 2,061 1,988 4,86o - "• TOTAL ASSETS •'• , I . . . , • , , 1 r i 1 • , -A - !—J *. . .. i , • •—; — 44,702,809 §482,577 11,996,358 2722,665 3667,090 2690,032 2353,902 7350^237-1878!,.568 1103,544'1870,571 1494,149 5095,516 l / A f t e r d e d u c t i n g $69,000 p a r t i c i p a t i o n s o f ' o t h e r Federal Reserve 'Banks. H.l+.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAY ll+, 191+7 ( I n thousands of d o l l a r s ) L I A B I L I T I E S Total Bos.ton New York F e d e r a l Reserve n o t e s 2i+,015,595 llil+5,802 5,l+8l+,l6i+ Deposits: Member b a n k - r e s e r v e a c c t . 15,91+8,955 705,81+5 5,027,61)1 U . S . T r e a s u r e r - g e n e r a l ace t . 556,158 55,81+1+ - 1 7 9 , 8 5 1 Foreign 575,1+1+5 55,955 1/192,087 Other 1+92,901 1+27,557 1,675 Total d e p o s i t s 17,571,1+55 777,515 5,827,116 Deferred a v a i l a b i l i t y items 2,1+12,102 ,2ll+,297 i+65,189 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 801 i+,005 15,815 TOTAL LIABILITIES i+l+,010,765 21+58,215 11,780,1+71+ Capital paid i n 191,520 67,280 11,167 Surplus ( S e c t i o n 7) 136,51+9 1+39,825 27,557 Surplus ( S e c t i o n 15b) 7,255 27,1+55 5,012 Other c a p i t a l a c c o u n t s l+,802 33,1+1+8 2,628 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1+1+,702,809 21+82,577 11,996,558 Contingent l i a b i l i t y on b i l i s purchased f o r f o r e i g n correspondents 2/2,295 7,171 1+59 Commitments t o make i n d u s t r i a l ——— loans 7,080 F . R. n o t e s o u t s t a n d i n g 2^,639,716 11+75,900 5,650,66!+ 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 12,103,000 1+55,000 5,1+70,000 E l i g i b l e paper 56,515 95,211 15,393 U. S. Govt, s e c u r i t i e s 1100,000 2,1+00,000 15,588,555 Discounts and advances Industrial loans ' U. S. Govt, s e c u r i t i e s Total 159*1+90 1,670 21,762,1+1+5 Within 15 days 106,160 1,110 5,659,865 Phila, Cleve. Rich. A t l a n t a Chicago S t . Louis 1659,507 2066,51+8 1663,650 1572,505 1+1+81,157 1077,096 788,881+ 1189,571+ 58,11+5 1+1,525 1+5,1+11+ 52,11+2 1,916 5,515 87i+,559 1288,551+ 151,91+5 2l+6,86l 718,1+98 3k,9h9 27,1+75 2,292 783,212 207,717 725,659 2287,095 27,096 52,971 22,988 76,251 1,877 2,588 775,620 21+18,705 175,961 355,1+35 597,1+92 51,130 19,625 6,119 65l+,561< 120,895 Minn« Kans . Cy. 587,055 905,1+50 Dallas SanFran. 571,889 2718,970 773,756 26,21+7 19,623 2,590 822,216 116,921 751,021 1986,1+57 36,308 27,757 1+9,570 18,502 57,51+7 979 798,259 2109,1+82 99,236 202,206 1+01,255 2l+,555 11+,017 2,650 1+1+2,257 55,1+1+5 l+l+o 518 1,139 . 909 1,561+ 750 596 2,055 555 675 2666,520 5603,127 2655,309 232l+,682 7257,525 1853,026 1085,195 181+5,11+2 11+69,902 5051,81+7 6,301 l+,200 ll+,205 18,710 8,065 7,299 22,786 7,085 17,851 6,371 3l+,720 1+1,591+ 20,676 18,665 65,078 13,777 15,729 58,106 16,577 10,99'7 1,507 1,137 l+,l+89 1,007 5,525 762 1,1+29 521 2,li+o 1,075 2,078 2,192 2,751 2,852 2,657 2,1+96 5,618 2,ll+3 1,879 3,372 2722,665 5667,090 2690,032 2355,902 7550,257 1878,568 1105,31+1+ 1870,571 ll+9l+,ll+9 5093,516 581 667 351 29I+ 251 179 251 3,61+0 1,103 1,618 89 — 15 1110,186 l68i+,383 2111,055 l7ll+,668 11+10,517 1+555,097 -.-.-. 601,1+69 1+50 927,51+1 167 2821+,1+65 595,795 l8i+,000 ' 5,800 1+25,000 280,000 l+,550 700,000 169,000 1850,000 1,950 500,000 1300,000 500,000 61+5,000 690,000 590,000 11,585 — 15,500 — 1200,000 1500,000 1055,000 850,000 MATURITY DISTRIBUTION OF LOANS 975 2970,000 300,000 l+,320 • 1600,000 958,555 AND SECURITIES 16 t o 31 to 6 l to 91 days t o 50 days 60 days 90 days 6 months i+,215 26,198 2,917 ~ — 5 29 55 2,685,778 5,518,611+ l+,285,0ll 1,500,575 l / A f t e r d e d u c t i n g $381,256,000 p a r t i c i p a t i o n s of 2 / After deducting $LL,876,000 p a r t i c i p a t i o n s of 6 months t o 1 y<s a r 1 to 2 ;y e a r s 237 • - . — 2 to 5 years 530 108 53 l!j8,350 32 0,1+00 5 , 0 9 9 , 312 o t h e r F e d e r a l Reserve Banks* o t h e r F e d e r a l Reserve Banks. 631 — Over 5 years 566,01+0
@FedFRASER