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BOARD OF GOVERNORS OF THE FELER^L RESERVE SYSTEM (Released for P u b l i c a t i o n F r i d a y morning, November H«lul Ik,I9U7) November 13, I9U7 CONDITION OF THE FEDERAL RESERVE BANKS During t h e week ended November 12' member bank r e s e r v e " b a l a n c e s decreased $2119,000,000, Reductions, i n 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 $298,000,000 i n ' T r e a s u r y ' d e p o s i t s ' w i t h : . i ? o a e r a l Reserve Banks,' $7h$000,000 i n money i n c i r c u l a t i o n , $28,000,000 i n nonmember d e p o s i t s and o t h e r Federal Reserve, a c c o u n t s , and $i|,000,000 in T r e a s u r y c a s h , o f f s e t i n p a r t by an i n c r e a s e of $106,000,000 i n gold s t o c k and $1*9,000, 000 i n Reserve' Bank cfcedit. Excess r e s e r v e s of member banks' on November 12 w e r e - e s t i m a t e d t o be approximately $800,000,000, Holdings of l o a n s , d i s c o u n t s and advances i n c r e a s e d $225,000,000,' while': holdings of United S'tates Government s e c u r i t i e s decreased $67,000,000, The decrease i n holdings 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 i n c r e a s e s of $111,000,000 j.n.npte.s, $61,000,000 i n c e r t i f i c a t e s , and $30,000,000 i n bonds, and a d e c r e a s e of $270.0.00,000 i n b i l l 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 d u r i n g t h e -week and .the year .ended. November 12, l^k'l, were as follows* I n c r e a s e or d e c r e a s e since Jovember 12, Wt November 5> November 1J, mi 19146. (In millions of dollars) -1,632 + 33 U. 3. Government securities Loans, discounts and -'advances Other Reserve Bank credit 22,052 - '67' U31 206 + 225 - 109 Total Reserve-Bank credit Gold stock Treasury currency 22,089 22, LJ4.2 U,r?50 +' 'k^ + 106 1 -1,376 member bank reserve balances honey in circulation Treasury cash Treasury deposits with B\ R, Banks Nonmember .deposits' and'other F,P,#acaounts 16,859 - 2U9 + 7U * h + - 2 8 , 7 H? 1,328 l,22i(. 1 ^82 J , . _/'0<- + 298 + 28 r- 277 +2,022 + 2 580 52 - 966 + 6U7 - 61 :S5I...IT^J:^:JT-: VO. 'CONDITION OF THE TYJ3LVF FEDSRuL RfJoEftU'Il BA. KS ;OOilBlNLD ( I n t h o u s a n d s ofi d o l l a r s ) H#lul(a) I n c r e a s e or d e c r e a s e since November 12, 3 November 5, 191+7 ilovember 13, I9I46 *2 r'> rn r* D b J. S. Gold certificates Redemption fund for F, R, notes Total r;old certificate reserves Other cash Disc cuntG and ad.vanees Indu stri ai 1cans: Acceptances purchased U. S# Gov t# s e c ur i t i e. s 5 Bills Certificates Notes Bonds Total II, S, Government ~^1HHIM£E: ~*~ Total leans and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets 20,-511, n o •. 679,542 21,190,712 2)46, u+ii ' ll28,99U l,9lio 1,006 + 98,500 2k f 98,1*76 - 12,593 +225,3148 + 23 |- 100,176 +2,956,568 20,626 + 32,oll4 + 818 + 1,006 13,2314,5714 7,108,805 970,500 737,690 . -269,710 + 61 ,.000 +111,200 + 30,000 ' -1,668,120 93,707 + 1145,1400 1 ;5,700 22^051-,569 - 67,510 -1,.652,127 22,1483,509 +157,1498 -1,598,289 : ~_ 95 103,860 2,659,037 33,208 6I/255 TOTAL ASSETS 363 •+3,056,7HU - 16,1481 +156,610 * • »m '+ 2,932 7 •+ + 10,1488 150,365 590 11,119 l46,778 ; , 120 +386, U|2 +1,208,502 2k,5Q5$7hQ + L\2,36h * L I A 3 I L 1 T I S-S F e d e r a l Reserve n o t e s Deposits s , s Member bank-reserve account U.S,Treasurer-general Foreign Other Total deposits aceount Deferred a v a i l a b i l i t y items Other l i a b i l i t i e s i n c l u d i n g accrued diviaends TOTAL LIABILITIES" C A P I T A L A 0 0! 0 U TTT JS Capital p a i d i n S u r p l u s ( S e c t i o n 7) Surplus (Section-: I J b ) Other c a p i t a l a c c o u n t s TOTAL LIABILITIES UJD CAPITAL ACCOUNTS R a t i o of g o l d c e r t i f i c a t e r e s e r v e s t o d e p o s i t and F , R. n o t e l i a b i l i t i e s combined ' C o n t i n g e n t l i a b i l i t y on b i l l s p u r c h a s e d for foreign correspondents Commitments t o make ' i n d u s t r i a l H 6 , 555 ; roans 16,838,792 1,223,521 l4u3,036 507,003 19,012,3.52 2,1453,896 -2148,773 " ' + 580,279 + 61i6,506 +297,1214 - 27,860 179,253 + 814,982 .+ 55,500 + 75,991 " • +•!.,132,3114 + ll*7,6!i7 +265,1314 20,030 ll.6;072;018 337 +383-, 876 I9li,030 1*39,823 27,1*55 Uk,l9h 146,778,120 k8$&/« + 178 + 2,388* +386,1|1|2 •$ + : 5,lil3. - +7,-168,819 + + '9,097 81,U68 +. 27 . 30,909 +1 ,208,502 %&f° : 3,046 7U76 22 51 2,973 1,-382 K. ii ? 1(b) STATEMENT OF CONDITION OF TEE FEDERAL RESERVE BANKS OH NOVEMBER 12,191*7 ( I n thousands of d o l l a r s ) ASSETS Gold c e r t i f i c a t e s Total Boston 2o,5H,l70 71*2,62? 679,5^2 54.5U5 New York Phila. Cleve. Rich. Atlanta Chicago.. S t . L o u i s Minn. Kans.Cy. D a l l a s SanFran. 5,597,4ol 5.029,181 1518,712 1165,267 1092,735 1*1*25,670 606,533 1*96,501* 735,052 515,4592789,969 Redemption fund f o r F. P.. notes T o t a l gold 60,1*1*6 74,528 61,177 40,899 86,702' 1*6,362 22,955 55,757 21,190,712 797,170 '5.715,288 1089,627 1393,040 1226,1*1*1* 1133,654 4512,372 653,415 519,459 2i*6,l*i<i* 23,121 1*3,901 10,860 2i,76o 13,1*19 21,771 56,655 16,081 5,924 768,809 9,109 26,518 51,708 certificate j reserves other cash Discounts and advances 1*28,991* 18,622 I n d u s t r i a l loans 1,940 — Acceptances purchased 1,006 U. S. Govt, s e c u r i t i e s : B i Hs 13,254,574 908,55? Certificates 189,1*26 — 1,006 3,822,..ili5 11,66? 1,910 55,^2 — 25,23? 50 948.677 1203,057 729,631 7,108,805 1*73,569 1,533,158 477,257 683,383 493,788 970,500 64,652 216,17s 65,155 94,04? 67,415 737,690 -, 1*9,-11*5 16U.3-1S- 1*9,526 71,1*87 5l,24l 1Ictes B 117,82? °ndS 11,920 539,777 281*1,677 11,299 32,561* 51.076 7,388 6,U*5 32,553 2,91*7 16,571 607,119 1575,C43 695,595 510,122 594,956 559,67' 121*9.629 539,390 999,885 -388,260 215,823 371,621* 359.61*2 55,160 156,505 55,oo6 29,1,6!* 50,73U 49,099 1*0,1*08 105,759 1*0,290 22,396. 58,565- 37,^20 667,228 91,090 69,259 T o t a l Ur S, Government securit'ie'g 22,051,569 1495,921 5,786,096 151*0,615 2057,454 1342,073 1090,077 2615,795 1176,951 607,805 1055,857 1005,739 2077,186 22,1*83,509 I5l4,.5l;5 5,976,52$ 155I*,192 2112,596.1567,355 1101,997 2866,871 1131*,359 6li*,250 1063,1*15 1008,686 2093,757 T o t a l loans and securities 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 95 lo3,S60 6 l*,77l* l / 26 15,266 8 1*,5?8 9 6,987 2,659,057 221,366 542,929 187,536 253,035 8,276 3,137 5,176 2,61*1 1,1*90 3,653 • 5,301 1*,161 3,Uo5 Bank premises 53,208 other a s s e t s 61,255 TOTAL ASSETS 1,250 1*,077 12,990 5 3,8?4 4 8,867 1^ 13,018 ^ 7,706 3 6,896 h 6,109 3 3,358 9 17,1*1*7 21*1,531* 172,527 395,729 111,223 75,761 135,929 121,595 202,075 3>052 1,979 1,211* 2,1*62 805 1,726 8,382 5,697 1,756 3,o66 5,079 7,165 1*6,773,120 2566,307 I2,5l5,2'0l* 2855,596 5798,1*01* 2861*,455 21*1*5,695 7856,075 1973,1*1*1* 1225,263 2011,905' 1688,382 5196,1*16 1 / 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 of o t h e r F e d e r a l Reserve Banks. H.ij.-l(c) ^•"B BM KS UK NOVEMBER 12, I9U7 OF CONDITION"OF THE FEDERAL RBSEKV (In thousands of dollars) Jew York Phila. Cleve. Total Boston Rick. Atlanta Chicago St.Louis 21*, 5s 5, 71*0 11*47,706 5,621*,795 1653,513 2114,153 1740,425 1404,720 4593,961 1129,073 L I A B I L I T I E S Minn. Kans.Cy. D a l l a s SanF'ran. Federal Reserve notes 622,974 9 u l , 9 7 7 630,G63 £671,575 Deposits: -ember b a n k - r e s e r v e a c c t . 16,038,792 743,377 5,111,164 820,646 1253 019 741,249 760,206 2555,752 635,296 1*41,586 837,958 836,032 2093,707 58,026 59,688 100,544 63,411 93,633 63,212 168,459 62,807 U.S.Treasurer-general acct.£223,521 277,104 86,709 106,379 78,549 12,349 33,014 18,336 15,342 50,891 13,097 13,097 1/188,425 30,310 34,801 Foreign 443,036 9,555 24,019 1*39,321 2,012 6,912 2 , 3 3 5 902 2,1*89 5,945 584 39,580 978 Other 507,003 3,901 2,044 Total d e p o s i t s 19,012,352 849,846 6,016,011; 9ii7,677 1401,911 860,553 839,662 2777,591 7 l 7 , l l i 5 511,011 915,444 908,653 2266,8l;5 Deferred a v a i l a b i l i t y items 2^4.53,896 222,384 72,061 123,245 192,573 448,719 189,117 215,311 227,035 168,659 362,025 105,180 127,567 Other l i a b i l i t i e s i n c l u d i n g accrued dividends 783 1,651 20,030 1,188 723 5,911 1,309 1^913 1,028 81*3 2,911* J2£2. 838 TOTAL LIABILITIES 46,072,018 2521,121* 12,095,439 2796,616 3733,293 2829,041 21*13,884 7741,491 1952,327 1206,769 1985,846 1663,544 5132,61*4 .tpital paid i n 6,1*86 1R 7,232 18,001 8,182 23,265 6,31*4 4,277 68,537 14,328 194,030 7,1*57 11,233 surplus ( S e c t i o n 7) 65,078 10,997 13,777 38,106 18,663 16,577 15,729 439,823 136,5U9 .34,720 41,394 20,676 27,557 l i U S Mr-,-h 13b) JtK 1,307 3,012 762 1,429 521 1,073 1,137 2,11*0 4,1*89 1,007 7,253 27,1*55 3,325 2,522 •the r c a p i t a l ace ounts 1*,810 2,11*7 2 , 7 0 5 _ 2 i 8 2 2 _ 2 , 6 7 5 5,525 __.4kJ2k 3,381 3,209 3,^3 TOT^L LIABILITIES AND CAPITAL ACCOUNTS 1*6,778,120 2566,307 12,315,20]* 2853,596 3798,401* 2864,433 21*1*3,695 7836,073 1978,444 1225,263 2011,903 1688,382 5196,1*16 •^x Linden l i a b i l i t y on b i l l s ourehased 268 for f o r e i g n c o r r e s p o n d e n t s 3,Ol*6 76 100 107 2/975 2U7 283 11*9 125 4ll* 107 195 einmitraents t o make i n d u s t r i a l 3,750 11*7 loans 7,176 799 1,395 78 4 00 27 58O P. R, n o t e s o u t s t a n d i n g 25,21*8,355 1501,535 5,776,919 1700,523 2171,032 1781,365 1449,573 1*665,683 1169,903 '63l*,787 963,032 655,375 2758,628 Collateral f o r F . R . notes hold by F. R. a g e n t s ; Gold c e r t i f i c a t e s 12,559,000 l*l*o,ooo 3,1*70,000 515,000 695,000 650,000 725,000 3010,000 315,000 190,000 280,000 169,000 2100,000 13,21*5 162,630 8,605 — 23,380 — — 6,065 5,500 31,235 E l i g i b l e paper 266,863 16,203 U.S.Govt, s e c u r i t i e s 13,1*00,000 1100,000 2,400,000 1200,000 1500,000 1150,000 750,000 1700,000 950,000 1*50,000 700,000 500,000 1000,000 MATURITY DISTRIBUTION OF LOAHS AKD SECURITIES Ove r 1 to 2 2 to 5 61 t o 91 days t o 16 t o Within 31 t o 6 months 5 years Total 90 days years years t o 1 year 6 months 30 days 15 days 60 days Discounts and advances 8,078 378,010 31,714 428,99a 11,135 I n d u s t r i a l loans 111 .2 273 5h 30 51 1,9U0 1VU19 xicceptances purchased 225 1,006 1*01* 377 U. S. Govt, s e c u r i t i e s 255,150 1427,5^0 647,8904,872,193 1*, 985,068 2 2 , 0 5 1 , 5 6 9 .2,193,202 5,078,095 3,592,431 1 / A f t e r d e d u c t i n g $2%,k569000 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, ' 5 / After deducting $ 2 , 0 7 1 , 0 0 0 p a r t i c i p a t i o n s of o t h e r Federal. Reserve Banks r
@FedFRASER