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. SC&RD OF GOVERNORS.. OF TIE FEDERAL RESERVE SYSTEM
(Released for P u b l i c a t i o n Friday morning, MayJJ21, I9I18]'
HJul
May 2 0 , I9I48
CONDITION" OF THE FEDERAL RESERVE BANKS
During the'week ended May 19 member bank r e s e r v e b a l a n c e s decreased
$581,000,000. Reductions in member bank r e s e r v e s a r o s e from i n c r e a s e s of
$295,000,000 i n .Treasury d e p o s i t s w i t h Federal Reserve .Banks, $10,000,000 i n
Treasury cash and $5,000,000 i n nohmember d e p o s i t s and o t h e r F e d e r a l -Reserve
accounts and a d e c r e a s e of $36^,000,000 i n Reserve Bank c r e d i t , o f f s e t i n p a r t
by a d e c r e a s e of $72,000,000 i n money i n c i r c u l a t i o n and an i n c r e a s e of
$20,000,000 i n gold s t o c k . Excess- r e s e r v e s of member banks on May 19 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 $530',000,000*
Holdings of l o a n s , d i s c o u n t s and advances decreased $25,000,000 and
United S t a t e s Government s e c u r i t i e s decreased $250,000,000* Th-e."decrease 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 d e c r e a s e s of $2l|i,000,000
i n b i l l s , $1^7,000,000 i n c e r t i f i c a t e s and $20,000,000 i n n o t e s and an i n c r e a s e of
$57,000,000 i n b onds . . *
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, d u r i n g t h e
week and t h e y e a r ended May 19, I9U8, were as follows $
I n c r e a s e or d e c r e a s e
since
May 19,
igb8
May 12,
May 2 1 ,
49^8
19U7
( I n m i l l i o n s of d o l l a r s )
U, S, 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,redit
20,098
• 226
350
~ 250
- 25
- 89
-1,578
+ 107
+ 7U
'Total 'Reserve Bank c r e d i t
Gold s t o c k
Treasury currency
20.67U
2$,2h5
It, 559
'"^3(h
-1,397
+2,357
Menber bank a rese rve b a l a n c e s
Mcnsy i n c i r c u l a t i o n * ' '
Treasury cash
Treasury d e p o s i t s w i t h F. R, Banks
Nonmember d e p o s i t s and o t h e r Fj,R,accounts
16,506
27,690
"1,329
1,612
1.3U1
+
+
+
+ 20
1
581
72
10
293
5
mmm
+. 56k
- U26
9
+1,073
-
2li2
. .STATEMENT QF CONDUEQN
OF ?HE/TV$LVE; FEDEML^ RESERVE .BASICS COMBINED
' ( I n "thousands of d o l l a r s )
H^.l(a)
I n c r e a s e or decrease
s, .nee
Hay 19,
19^8
Hay 2 1 ,
19l*7
Hay 12,
• 191*8
ASSETS
Gold certificates
Redemption fund for F# R# notes
Total gold certificate reserves
Other cash
Discounts and advances
Industrial loans
U# St Govt, securities:
Bills
Certificates
]>i ote s
Bonds
Total- U» S. Government
securities
Total loans and securities
Due from foreign banks
F. R. notes of other banks
Uncollected items?
Bank premises
Other assets
TOfAL ASSETS
21,355*170
621i,221
21,979,391
288., 907
225,250
898
7,70^,801
1*, 118,993
1,936,800
6,358,650
+ 13,000
+ 1,205
+ iU,205
.* 2 , 2 5 1
- 2^,933
+
20
+2>U2j,9ge
91.279
+2,333,713
t
37,370
+ 108,185
699
s-21;0,900
-7,073,528
- .'46,750
•- 692,725
- 20,000" ' + 1 , 5 8 5 , 0 0 0
+ 57,1*30
+5,603,260
20,098,21|U
-250,220
-1,577,993
20,3214,392
-275,133
' - 1,1*70,507
112,062
.2,970,716
32,657
167,182
+ 5,676
+156,3.10
+
5
+ 3,oio
53
+
13,682
+. 533,989
+
579
+ 118,705
1*5,875,356
- 93,676
+1 ,567,1*78
<•
23,596,136
- 58,212
-
16,505,51*8
1,612,086
368,728
,- 1*2 6, h 51
18,912,813
2,620,698
+ 563,2145
-581,197
+1 ,073,293
+292,5>2
120,2^5
- 5,51*8
1*1,571*
+ 8,553
"
•
+
T
,1*71*, 719
-285,600
+:' 1*59,629
+2U5,'ll4l
17,810
k5,11*7,1*57
1*,677
+ 1,1*17- +
- 97,251* ' IT,532,91*6
198,088
• 1*1*8,189
27,51*3
• 51* ,079
1*5,875,356
+
149
L I.A B 1 L I»T I B S
F e d e r a l Reserve noteg
DepositsMember 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 availability items
Other liabilities including accrued
dividends
'
TOTAL LIABILITIES
C A P I T A L 'A C C O U N I S
C a p i t a l paid in
S u r p l u s ' ( S e c t i o n 7)
Surplus ( S e c t i o n 13^>)
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
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
J
Contingent l i a b i l i t y on b i l l s purchased
for foreign 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 \loan& *
51.7%
3,299
6,623
33
+ 3,5^5
- 93,676
+
+
••+
1^06,079
+
+
+
+,
6,733
8,366
'
88
19,31*5
+T',567,1*78
M
+
h.3%
2iT
7
+
3,1*98
926
H.U.l(b)
STATEMENT OF CONDITION OF THE :FEDERAL RESERVE BANKS ON M&.Y- 19,19US
(•In thousands of d o l l a r s )
A S S E T S
Cold c e r t i f i c a t e s
Total
Boston
21,555,170
848,295
Hew York
Ehila.,
Clove.
Rich.
Atlanta
Chicago St.Lottis
6,572,053 1665,425 14.54,346 1015,918 1050,73U 4291,538
593,221
Minn,, Kans..C.yv
448,455
747,435
Redemption fund for
514,212 2753,1+88
'
F, R, notes
624,221- :54,909
T o t a l gold c e r t i f i c a t e
reserves
"21,979,39!
Other c a s h .
238,907
Discounts and" advances
225,250
I n d u s t r i a l .loans
393
U. S. Govt, i s e ' c u r i t i e s ?
B i l l s
.
. '..
7,703,801
Certificates
Kox;es
'
BondS
'
D a l l a s SanFran.
68,o2?
57,591
75,5?4
56,661
58,274.
97,u2?,
45,9^9-; 22,576
35,003
25,565
48,845
903,204
37,562
21,921
6 , 6 4 0 , 0 8 0 1123,016 1527,720 10?2,579 1089,008- 4389,015
52,725
15,728
26,722
18,462
22,51+5
55,011
60,173
17,958'
19,394
14,468
7,521
21,952
572
257
69
-
'639,190
11,976
11,992
—
471.051
6,7^3
6,!;00
732,438
10,022
19,682
—
539,777 2802,333
10,82q
1+0,592
6,833
16,656
517,880
1,847,253
1x25,350
235,806
4,118,993 276,895
1,936,800 150,199
6,535,650 .426,110
T o t a l U.S. Government
securities
" 20,098,21 1 4 1351,084
1
,
1
550,282
738,563
500,316
359,082
^i+9,128
699,328
987,66o 294,22c
464,410 138,546
1,519,59^: u52,769
39u,83S
185,631
607,686
267,501* 2o6,497
585,26o 227,422 126,000 191,939
125,784
97,098
275,196 106,9^6 59,283
90,276
411,657 517,776 900*6*16 5U9,976 194,01? , 295,1,52
386,2151094,618
136,668
87,^74
287,262
573,910
175,817
575,403
" '
"
U,819,197 1435.617 1926,813 1305,261 1007,-586 2655,720 1109,684
:
..•
—
-
:
"
"
'
—
"
• .
• 1
615,188
"r!
936,799
910,632 1824,458
956,481
917,665 I 0 4 l , l l 4
'
T o t a l loans and
—securities
~
Due from f d r e i g n banks
F . R . n o t e s of o t h e r banks..
Uncollected items'
Bank premises
Other assets
TOTAL ASSETS
20,324*392 1373,005
[+9
3
112,0.62. \ .'4-,850
2,970,716 238,633
32,657
1,222
167,162
.11,400,
4,879,370 li+54,l47 1946,469 1319,793 1015,407 2877,672 1121,676
1 / 16
ro,095;
4
5,774
4
6,512
2
11,443
6o6,683' : 200,252 289,057 ,250,377
0,173
3,132
4,303
2,610
39,558
11,579 » 16,133
10,886
2
10,782
191,80,6
1,546
6,492
J
l4',&13 '
2
8,115
1+26,415 125,799
3,036
1,953
23.,-^
9>?54
621,588
.
1
3,91V
2
5,631
2
.,JU»987
4
17,166
68,597 156,021
1,198 " 2,1+2?
5,Q64 . 7,70£
152,259
7Sl+
,.7*561
261,935
1,688
15,509
45,875,356 2569,667 12 ,-21+1+,.7 00^28-15,632 3817,555 2686,157 2339,670 77-%;624 1910,270 1170,126 1923,530 1633,084 4930,341
1/After deducting $33,000. participations of other Federal Reserve Banks...
H.iul(c)
L I A B I L I T I E S
Total
Boston
23,596,136 lul3,852
?
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 . 16,505,548 714,880
U . . S . T r e a s u r e r - g e n e r a l a c c t . 1 , 6 1 2 , 0 8 6 143,521
Foreign
368,728
21,382
other
426,451
1,658
Total deposits
18*912,813 -881,441
Deferred a v a i l a b i l i t y items 2;,620,690 222,065
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
. "17,810
TOTAL LIABILITIES
Capital paid in
Surplus ( S e c t i o n 7)
S u r p l u s ( S e c t i o n 13b)
Other C a p i t a l a c c o u n t s ;
D a l l a s SanFran.
587,834 2 U 78,004
769,089
63,989
11,840
1,742
809,506 2039,632
57,073
99,272
11,502
29,835
563
35,059
846,659
134,117
878,644 2203,798
5,268,705 776,060 1225,237 706,482
358,579 157,753 168,391
90,297
l/l38,550
27,li02
31,124
16,577
367,513 , 1,843
6,519
2,2 U Q
6,133,347 :963,058 11(31,121 815,596
4 K , 2 c y liy,mrj
^ i ^ u u o c:c/,u^^
5,190
990
712,204 21:76,071 600,393
74,185 255,523
72,622
13,870
46,009
12,17Q
576
2,176
5,174
800,.S35 2779,779 690,368
19^, o 5 ; > 8 9 , 3 ^ J^0,99;>
A7n
i,7l
2,376
407,239
70,882
8,458
1,588
488,167
o0i>oup
700
,7X
1,377
""
45,Hi7,457.
2523,325 12,020,051 2755,002 3750,543 261(9,106 2308,539 7671,296 1890,918 i l 5 a , 9 i o 1896,337 1607,721 4915,709
6,776
7,621
18,573
. 198,088
11,-311
69,137 ' Hi,54o
I6,97u
6,440
7,734
21;,096
6,509
4,,364
:
14,111
36,952
16,148
'448,189-20,117
133,596
35,350
42,173
21,210
19,110
66,21?
16,972
.il',233
1,307
2 , lliO
1,137
. 27,5a3-.
3>0ll7,319
4,489
1,006
3,349
762
1,1,29
521
1,-073
y , 1CL±
3,152
2,-546
ii,96^
.lt,2li5
4,059
4,052
3,525
6,504
5,350
I "54,079 .. 4,103
9,597
TOTiL' LIABILITIES AND*
AND CAPITAL ACCOUNTS
1(5,375,356 2569,067
Contingent; l i a b i l i t y on " b i l l s purchased
-208
for foreign correspondents
3,299
Conanitipsnts t o make i n d u s t r i a l
6,623
loans
F . R# n o t e s o u t s t a n d i n g s
24,463,539 1474,771
Collateral for F#S. notes
h e l d by F # 8*Agents:
Gold c e r t i f i c a t e s
13,279,000 460,000
E l i g i b l e paper
.59., 392
32,03c
U^S^Govt* s e c u r i t i e s
12,225,000 1100,000.
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
STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAY 19, I948
( I n thousands of d o l l a r s )
'New York
Phila.
Cleve.
Rich. A t l a n t a Chicago S t . L o u i s
Minn. Kans.Cy.
5,107,945 1617,461 2063,272 1605,634 1314,27b 4499,812 1078,884 609,225 9lu,043
Within
Total
15 days
225 250
67,3*2
'89©';
531
20,098, 7 2i|U " 2 , 2 9 1 , 8 5 7
12,244,700 2613,632 3817,555 2636,157 2339,670 7769,621: 1018,270 1173,126 1923,530 1633,884 4980,341
2_/l,056
267
304
162
135
449
119
500
,iOO
16
353
303
133
5,671,643 1659.703 2iu3,0i4 1673,756 1358,542 4576,354 1119,985
C
li,l{7o,ooo 550,00; 12,
,^5,ooo
625,000 675,000 2700,000 315,000
y»i
9,823
!?*^U
'75
6,5aO
\.~\ 1900,000 950,000
iv3oo,ooo 1200,000 1500,000 1075y ,
MATURITY DISTRIBUTION OF LOANS AND SECURITIES
6 months
* 61 t o
16 t o '"
31 t o
91 days t o
t o 1 year
90 days
60 days
30 days
6 months
1Q
61,605
26,1;15
69,565
171
71
h
55
38
l,u32,7S6
1**752,996
l,8i;9,102
2,165,86?
1,386,000
Qc
115
112
290
631,031
5,750
940,610
127
618,1(00 2591,930
200,000
,u75
2,1+
a
280,000
lu,168
700,000
169,000 2100,000
—-2,840
500,000 600,000
-1 t o 2
years
14
l / A f t e r d e d u c t i n g $23Q,Oi»i;,000 p a r t i c i p a t i o n s of * e t h e r Federal Reserve tfenks.
5 / After deducting
$2,21+3,000 p a r t i c i p a t i o n s of other Federal Reserve Banks..
2 to 5
years
Over
5 years
16
1,138,651
5,080,985
@FedFRASER