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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM lUwX (For Immediate Release) November 26,19J48 CONDITION OF THE FEDERAL RESERVE BANKS During t h e week ended November 2i| member bank r e s e r v e b a l a n c e s decreased $19,000,000* Reductions i n member bank r e s e r v e s r e s u l t e d from i n c r e a s e s of $90, )00,000 i n cidjaey i n c i r c u l a t i o n , $59,000,000 i n Treasury d e p o s i t s w i t h F e d e r a l Reserve Banks, and $21*,000*000 i n nonraember d e p o s i t s and other F e d e r a l Reserve a c c o u n t s , o f f s e t i n p a r t by i n c r e a s e s of $107*000,000 i n Reserve Bank c r e d i t and $1|Q, 000,000 i n gold s t o c k , and a d e c r e a s e of $7,000,000 i n Treasury c a s h . Excess r e s e r v e s of member banks on November 21* were e s t i m a t e d t o be approximately $910,000,000, 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 $500,000,000, while 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 $63*000,000* The i n c r e a s e 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 i n c r e a s e s of $8lj,000,000 i n b i l l s and $10,000,000 i n bonds, and d e c r e a s e s of $17,000,000 i n n o t e s and $13,000,000 i n 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 d u r i n g t h e week and t h e year ended November 2I4., I9I4.8, were as f o l l o w s : I n c r e a s e or d e c r e a s e since November 2J4, November 17, J ^ llovember 2 6 , I9I+6 ( I n : millions ! Of I9U7 dollars) 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 r e d i t 22,993 583 365 + + - 63 300 256 + + + Total Reserve Bank c r e d i t Gold s t o c k Treasury currency 23,9U1 2U,150 U,580 + + + 107 ho +1 ,007 +1 ,553 riember bank r e s e r v e b a l a n c e s Money 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 t R*Banks Nonmember d e p o s i t s and other F # R # accounts 19,93U 28,305 1,317 1,650 1.U6U . + - 19 90 7 59 + + 1 2h + 75k 208 hb 26 +2 ,813 - 1*20 13 + - 336 131 H.U.l(a) STATEMENT OF CONDITION OF THE TTZGLVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Nov. 2U, I9k8 Nov. 17, 191*8 Nov. 26, 191*7 A S S E T S Gold certificates Redemption fund for F, R, notes Total gold certificate reserves Other cash Discounts and advances Industrial loans Acceptances purchased U. S, Govt, securities: Bills Certificates Notes 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 TOTAL ASSETS L I A B I L I T I E S Federal Reserve notes Deposits s Member bank-reserve account U.S.Treasurer-general 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 including accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid i n Surplus (Section 7) Surplus (Section 13b) Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCCUNTS Ratio of gold c e r t i f i c a t e reserves t o deposit 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 t o make i n d u s t r i a l loans 22,255 t li31 627,250 22,882,681 255.1*86 581,861* 980 + 1*0,003 + 1 + 1*0,001* - 5,211* +299,711 + 7 ... 7,135 + 211,373 3,71*1 629 5,025,791* 6,020,619 780,950 11,165,827 + 81*,350 - 13,200 - 17,250 + 9,518 -7,61*3,1*81* -1,222,786 - 617,800 +10,237,791* 22,993,190 + 63,1*18 + 753,721* 23,576,031* +363,136 ... 1*1*5 -971,986 1* • 5,71*1* + + + 960,727 1*6 10,228 150,502 96I 152,239 1*9,867,1*1*2 -568,757 +2,805,097 2k,166,269 + 76,1*08 1*69,1*66 19.931*. 1*21 1.650,293 1*65,91*0 1*56,201* 22,506,858 2,397,357 - 18,102 + 59,l*o6 5,786 + 27,221+ + 62,71*2 -715,732 + 2,813,630 + 336,1*21* + 15,21*0 .62,273 + 3,103,021 + 10l*,838 H*, 503 + 2,085 -57l*,i*97 _ 5,902 + 2,732,1*91 60 + 5,636 + 8,366 + 88 + 58,516 +2,805,097 1*9 135.91*0 2,761,92k 32,21*0 223,088 1*9,001*. 987 200,181* 1*1*8,189 27,51*3 106,539 1*9,867,1*1*2 _ _ _5,680 __ -568,757 1*9. Ofo ,lfo 1,850 6,097 8 7 +1,595,261 55,718 +1,539,51*3 • .9* 1,055 1,370 H.l*.l(b) STATEMENT OF CONDITION OF TEE FEDERAL RESERVE BANKS ON NOVEMBER 21;, 19^8 ( I n thousands of d o l l a r s ) ASSETS Total Gold c e r t i f i c a t e s Boston New York Phila. Cleve, Rich. Atlanta 22,255,1*51 820,906 627,250 52,588 22,682,681 255,k86 875,k9k 2k,k79 581,861* Discounts and advances I n d u s t r i a l loans 98O U. S. Govt, s e c u r i t i e s } Bills 5,025,79k 20,8k5 -— 279,759 — 57,51? 9kk 57,771 — 29,95k 56 21,802 -— 555.205 1,205,096 558,995 k^l,825 526,596 251,958 Chicago S t . L o u i s 7,053,k20 101*8,666 11*22,965 1012,707 1071,988 l*l*l2,25lj. Minn, Kans.Cy. D a l l a s SanFran. 655,879 U85.251* 822,71*5 616,078 283k,591 Redemption fund f o r F. R. notes 57,75k 58,259 75,209 57,886 kk,956 lok,256 k5,082 25,255 56,560 26,882 k6,8k5 7 , m » 1 5 k 1106,905 lk96,172 1070,595 m 6 , 9 k k k5l6,k70 5k,876 10,8k5 20,088 18,7k5 2o,85k 56,165 700,961 20,562 506,li89 15,557 859.105 11,^69 55,806 -— 25,129 — 5,975 56,707 9,157 25,681* 728,1*82 250,885 155,851* 25i*,258 227,765 1*71,105 Total gold c e r t i f i c a t e reserves other cash Certificates Notes Bonds 6,020,619 780,950 11,165,827 61*2,960 2881,k5k 15,7kk 50,126 l*Ol*,751 1,1*1*5,656 1*30,055 577.196 591,005 501,852 855,1*57 532,1*16 I8l*,285 280,627 272,81*9 51*6,531* 52,1*98 167,258 55.763 7l*.870 50,718 39,151 110,961* 1*3,119 23,90!* 36,1*01 55,392 70,892 750,611 2,677;36U 797,573 1070,1*68 725,151* 559,777 1586,550 616,1*99 51*1,775 520,1*50 506,021* 1015,600 T o t a l U.S.Government securities 22,993,190 15l*5,oi*5 5,515.35k l6U2,i*ol* 22ol*,557 11*95,271 1152,718 5281,1*55 121*2,917 705,798 1071.756 101*2,028 2102,129 25,576,051* 1565,888 5,793,095 1680,665 221*2,128 1525,261 I17l*,520 5557,259 1266,01*6 709,775 1108,1*1*5 1051,165 2125,815 T o t a l loans and securities Due from f o r e i g n banks ^9 5 l / 16 F.R.notes of other banks 135,9)40 3,7l*0 Uncollected items 2,761,921* 205,507 12,968 556-807 1* 1* 2 5,219 7,1*75 181*,96I* 275,081 25,161* 255,075 2 7 2 15,770 ll*,769 17k,k51 1*58,616 8,216 122,161* 1 2 12,050 9,79k 72,1*71* 15k,812 2 2* 7,822 16,975 157,756 221*,1*19 Bank premises 52,21*0 1,19k 8,063 5,058 1*,798 2,561* 1,581 5,Ol*8 1,91*8 1,182 2,592 76I 1,651 Other assets 225,088 15,155 55,1*52 15,1*20 21,59k ll*,575 H,175 51,515 12,511 6,79 2 10,1*57 10,125 2o,5l*5 TOTAL ASSETS 1*9,867.1*1*2 2687,258 15,550,1*09 5007,078 1*067,558 2887,777 2515,275 8577,825 2152,1*10 1522,298 2156,1*71* 1861*,555 5500,967 1 / A f t e r d e d u c t i n g $53,000 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.U.l(c) ^ 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: Total Boston 2 ^ , 1 6 6 , 2 6 9 U&k*26k Member b a n k r e s e r v e a c c t # l 9 # 9 3 l j > l ; 2 1 U # S » T r e a s u r e r - g e n e r a l a c c t j s 6 5 0 . •293 Foreign h65, ^9U0 Other 8 3 6 , ,975 1 5 1 . ,1*52 2 8 , 388 h, Total deposits 1 0 2 0 , ,989 22,506* D e f e r r e d a v a i l a b i l i t y i.terns 2 , 3 9 7 ,,357 1 9 1 . 2 7 7 Other l i a b i l i t i e s i n c l u d i n g accrued dividends 731; Hi, ,503 TOTAL LIABILITIES Capital paid i n S u r p l u s ( 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 accounts U9.0GU,- 9 8 7 2 6 3 7 , ,2&x 2 0 0 , ,18l* H i ,350 2 8 , ,117 10*8,,189 2 7 , ,543 3 ,, 0 1 1 106, , 5 3 9 7 ,, 5 1 6 STATEMENT OF CONDITION OF THE "FEDERAL "EESBRVE BANKS ON NOVEMBER 2k9 lgU8 ( 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»5U2 # 835 1661,321 2131,587 1673.638 1331,55h 4536,3^3 1131,63k 633,730 936,2*58 D a l l a s SanFran. 628,232 2U8U#593 949,560 96,572 15,771 1*30 965,699 2575,806 99,926 97,1*1*1 15,320 39,694 1*26 37,2*48 6,1169^639 9 L 6 . 6 6 8 11*25,,597 8 3 9 , , 6 6 5 1 3 9 . 0 5 6 1 4 4 , ,725 313,811 96,251 2 2 , ,079 4 l , 455 56,1*99 1 / 1 5 9 , ,490 2.-693 6. 070 1.,7ji7_ 3?K 079_ 7 . 3 3 9 , ,oli9~ Ti2U7896 1617J•3l*7~ 9 5 9 , ,742 1*26, , 7 8 6 1 5 7 , 4 8 0 2 4 4 , ,100 2 1 3 . ,228 836,600 3056,773 1 2 1 , ,96U 190*894 61,282 13, , 4 7 5 1.,U17 2,31*6 9 7 8 , •456 3 3 1 1 . 2 9 5 168, , 8 9 0 3 7 1 , 0 7 4 736,£1;4 97,521 16,222 6,106 1*96,795 95,670 11,265 2,268 856,1*93 605,998 1062,333 1081,371 2548,589 6 1 , 2 6 6 127,1*03 125,31*2 1 9 6 , 9 7 8 113,533 1 623 526 8l*l 540 668 2,251 1,336 598 l , ,545 395 4*,i&8 1 3 , 3 1 3 , , 1 1 8 2 9 ^ , 5 3 8 3 9 9 5 , , 079 281-7,. 2 7 6 21*79,. 4 7 8 8 2 7 0 , 9 6 3 2 1 0 2 , 1 8 6 1501,1*37 2 1 2 6 , 7 3 4 1 8 3 5 , 6 1 8 5 2 3 1 , 2 9 6 6,602 18,821* ,81*1* 25,266 4,1*20 8, , 5 4 0 6 8 , .979 7,805 6,895 1U.6U3 1 9 . ,018 1 1 , 2 5 3 , 1 1 0 6 6 , 2 1 7 16,11*8 l U . i i i 138, , 5 9 6 U2,,173 , 2 1 0 35.550 1 6 , 9 7 2 3 8,952 21, 19, 762 2,11*0 , 0 0 6 L U 2 9 521 1,307 4,1*89 1.137 7 , ,319 1,075 1, 3 , ,349 ,402 2 2 , ,397 8,058 5 , 5 6 0 10, ,C62 6, 6,129 9,755 7, 15,950 4,155 5,494_ / J TOTAL LIABILITIES AHD CAPITAL ACCOUNTS 1*9,367,1*42 2687,258 13,550,1*09 3007,078 1*067,338 2887,777 2513,275 8377,825 2132,1*10 Contingent l i a b i l i t y on b i l l s purchased for foreign correspondents 1,850 116 2_/ 592 150 170 91 76 252 66 Commitments t o raake i n d u s t r i a l loans 6,097 75 — 201 1,057 135 288 l*8l* — F. R . notes outstanding 2l*,875,855 li;76,98l* 5,636,689 1701,536 2192,21*8 1722,105 1389,61*0 1*670,373 1170,193 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. Agentsj Gold c e r t i f i c a t e s 1 3 , 2 7 9 , 0 0 0 1*60,000 1*, 770,000 550,000 735,000 625,000 575,000 2600,000 315,000 E l i g i b l e paper 279,372 6,235 192,925 13,SCO 17,935 Hi,810 U.S.Govt, s e c u r i t i e s 12,300,000 1100,000 1,000,000 1200,000 1500,000 1150,000 850,000 2100,000 950,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES Uithin 16 t o 31 t o 6l t o 9 1 days t o 6 months Total 1» days 30 days 60 days 90 days 6 months t o 1 year Discounts and advances 581,861* 1*56,298 19,723 56,1*03 1*2,200 7,21*0 Industrial loans 980 798 39 75 2 2 ]*5 U.S. Govt, securities 22,993,190 1,332,857 982,651 1,942,899 1,107,137 736,200 5,134,669 l/ After deducting $306,1*08,000 participations of other Federal Reserve 2"/After deducting $1,258,000 participations of other Federal Reserve 1322,298 2156,1*71* 186U.333 5300,967 1*6 65 65 163 — 5,750 — 107 61*5,954 961,1*53 666,222 2592,656 200,000 I98 1+50,000 280,000 28,619 700,000 169,000 2000,000 500,000 1 to 2 years 2 to 5 years 15 590,900 Banks. Banks. 8 1,963,917 800,000 Over 3 years 9,201,910
@FedFRASER