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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) H.4.1 Sept. 1, I9U9 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended August 31 member bank reserve balances increased $3*000 ,000• Additions to member bank reserves resulted from increases of $liji4.,000,000 in Reserve Bank credit and $2,000,000 in Treasury currency, and decreases of $35*0^0,000 in nonmember deposits and other Federal Reserve accounts and $11,000,000 in Treasury cash, offset in part by increases of $125,000,000 in Treasury deposits with Federal Reserve Banks and $61,000,000 in money in circulation and a decrease of $3,000,000 in gold stock* Excess reserves of member banks on August 31 were estimated to be approximately $1,270,000,000* Another reduction in reserve requirements, as part of the program announced on August 5* became effective on August 25 and resulted in a reduction of approximately $250,000,000 in required reserves of member banks. Holdings of loans, discounts and advances increased $i_|l6,000,000* Holdings of United States Government securities decreased $279,000,000, reflecting decreases of $189*000,000 in bills and $90,000,000 in certificates. Changes in member bank reserve balances and related items during the week and the year ended August 31, 19^9 were as follows: Increase or decrease since August 31, 191+9 August 2k* 19^9 Sept. 1, 19hQ (In millions of dollars) U* S* Government securities Loans, discounts and advances Other Reserve Bank credit 17,524 532 170 -279 +U6 + 8 -3,887 + 213 37 Total Reserve Bank credit Gold stock Tre a s ury currency 18,225 2l+,607 k,593 +lhh - 3 + 2 -3,712 + 832 + 25 Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R. Banks Nonmember deposits and other F. R. accounts 16,512 27 ,339 1,310 610 l,60i; + 3 + 61 - 11 +125 - 35 -1,212 - 683 13 -1,083 + 135 H.4«l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( I n t h o u s a n d s of d o l l a r s ) I n c r e a s e or d e c r e a s e since Aug. 3 1 , A S S E T S Gold c e r t i f i c a t e s R e d e m p t i o n f u n d f o r F . 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 Other cash Discounts and advances Industrial loans U. 3. Govt, securities: Bills Certificates Notes Bonds T o t a l U* S . Government T o t a l loans and s e c u r i t i e s Due" f r o m T o r e " i g n b a n k s F« K, n o t e s of o t h e r b a n k s Uncollected items Bank p r e m i s e s Other a s s e t s TOTAL ASSETS S e p t . 1, 19U8 Aug. 21+, 19U9 + + 7,001 2,celt U,977 - 292,153 - + 9Uli,758 + 900,35F 5,830 + 29,373 530,985 537 +1+15,653 + 10 + 212,91+3 283 3,li85,3i2 5,958,liOO 30l+,6oo 7,775,200 -190,306 - 89,500 -3,383,14*5 +1,009,561 -I,li93,700 20,01+6 17,523,512 -279,806 -3,887,630 18,055,0311 1+8 119,332 2,198,685 32,627 131,71a +135,857 + 2,091 2,359 65 3,977 -3,67li,970 1 6,753 26k,lhk 221+ + 39,219 1+1+,191,617 +11+3,366 -3,055,lli2 23,272,661 + 52,197 - 22,797,^30 56ii,567 23,361,997 + + khMo L I A B I L I T I E S Federal Reserve notes Deposits• Member b a n k - r e s e r v e a c c o u n t 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 i n c l u d i n g a c c r u e d dividends TOTAL LIABILITIES 16,511,619 610,31*5 1+39,165 1475,205 18,03^7332 2,028,1*09 + 2,306 +125,105 - 214,697 9,013 + 93,701 5,821 -1,212,305 -1,082,226 + 26,61+5 + 52,757 8,525 U5,3U5,927 626 +139,U5l U,031 -3,luo,29l C A P I T A L A C C O U N T S Capital paid i n Surplus (Section 7) Surplus (Section 13b) Other c a p i t a l a c c o u n t s TOTAL LL1BILITIES AND CAPITAL ACCOUNTS 206,926 1+66,711 27,51*3 Il4l4,510 hk,191,617 7 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 Knd 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 a c c e p t a n c e s p u r c h a s e c for f o r e i g n correspondents Commitments t o make i n d u s t r i a l l o a n o 56.6% 2,9lil 2,072 - + + 679,681 227,1+30 7,666 18,522 + 3,922 + 6l4,96l +TEJI355" - 3 , 0 5 5 / W .1% 352 5.8% 1,538 i+,120 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON AUGUST 31, 1949 ( i n thousands of d o l l a r s ) New York Phi l a , Cleve. R i c h , A t l a n t a Chicago S t . L o u i s Minn, Kans.Cy. 5,3^0,100 1601,160 2061,096 1561,231 1275,192 1*1*95,61*2 1065,217 606,049 913,891 609,1; 51 2369,589 5,679,778 71*2,735 1167,931 15,577 1*5,1*15 36,283 1/144,069 3u,5l2 39,689 4 111 ,282 1,839 I;,806 667,o>*0 34,085 21,139 2,128 6UU>60I4. 2604,668 28,0u2 141,308 17,687 59,533 685 2,636 588,619 33,982 15,530 5,569 397,81*4 55,155 10,785 1,559 763,373 97,913 15,530 3,581 756,801; 34,507 15,099 875 1831,936 26,816 38,411* 33,875 6,233,544 380,922 724,392 182,708 691,018 2808,145 ll*0,962 313,134 61+3,700 465,343 119,980 67,905 880,397 111,556 807,285 93,631* 1931,01*1 165,059 363 292 605 1*3,3^5,9^7 2260,335 12,006,877 2535,577 3496,556 2468,711* 2107,51*2 7618,192 1829,280 1139,691 1906,207 1510,662 4466,294 H.Jj.l(c) L I A B I L I T I E S Total Boston F e d e r a l Reserve notes" 2 3 , 2 7 2 , 6 6 1 137U,QU3 Deposits: Member b a n k - r e s e r v e a c c t . 16,511,619 666,237 U.S.Treasurer-general a c c t . 610,345 31,262 Foreign 1*39,165 27,173 Other U7:^-2C3 3,365 Total deposits I8,cir. i 332 728,095 x l a b i l i t y iterns 2 } 02C,409 157,512 Deferred Other l i a b i l i t i e s i n c l u d i n g accrued dividends 635 8,525 TOTAL LIABILITIES uapibai palu 1J x ti Surplus ( S e c t i o n 7) Surp lu s (3 3 c t i on 13"o ) 0th e r c ap i t a 1 a c ?• ou nt s TOTAL LIABILITY AND CAPITAL ACCOUNTS 206,°26 466,711 27,543 ll;4,510 11,537 29,3*7 3,011 10,079 2,311 71,109 11*3,019 7,319 31,536 815,369 1258,003 118,615 176,1*22 1*33 15,004 36,701* 4,1*89 10,607 1,035 19,330 1*3,968 1,006 13,326 383 9,072 22,1+17 3,31*9 9,710 370 8,135 20,028 762 8,352 1,271 26,002 68,81*2 1,1*29 19,81*2 383 6,812 17,971* 521 8,052 391* 1*,557 11,797 1,073 5,1*52 7,223 17,008 1,137 7,376 Dallas 8,307 11*, 95u 1,307 7,025 SanFran. 19,338 1*0,633 2; 11*0 13,103 1*4,191,617 2314,309 12,259,910 2602,381 3574,186 2513,262 2144,819 7734,307 1862,639 1162,570 1938,951 1542,255 1*51*2,028 Contingent l i a b i l i t y on acceptances purchased f or f or e i gn c orr e s p ond e nt s 262 103 271 1*06 121 106 106 2 / 929 2,91*1 11*1* 185 73 235 Commitments t o make i n d u s t r i a l loans 2,072 — 60 77 lie 1,771* 15 — 28 F.R. n o t e s o u t s t a n d i n g 616,003 938,91*2 636,932 2477,036 23,972,261* 11*27,1*57 5,1*86,099 1653,771 2128,1*81* 1608,674 1321,938 1*573,893 1103,035 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. Agents • Gold c e r t i f i c a t e s 13,999,000 440,000 4 , 6 7 0 , 0 0 0 750 ,000 900,000 650,000 675,000 2900,000 340,000 210,000 280,000 184,000 2000,000 E l i g i b l e paper 1,777 362,880 593,304 5,530 -2,603 299 815 — 5,555 — — 18,795 U.S. Govt, s e c u r i t i e s 11,100,000 1100,000 1,000,000 1000 ,000 1300,000 1000,000 700,000 1700,000 850,000 1*50,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES 31 t o 61 t o 91 days t o 6 months 1 to 2 2 to 5 Over Within I5To Total 15 days 30 days 60 days 90 days 6 months t o 1 year years years 5 years Discounts and advances — __ 530,^35 1*1*3,156 5,734 15,393 66,61*5 57 I n d u s t r i a l loans 509 ' 3 4 8 — 537 13 U.S. Govt, s e c u r i t i e s 1,025,400 3,956,500 — 1,826,100 5,;,48.,P00 2,695,631 486,000 1,319,640 766,21*1 17,523,512 l / After d e d u c t i n g $295,078,000 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 , 0 1 2 , 0 0 0 p a r t i c i p a t i o n s of other Federal R e ^ r ^ e Bnrks* H.l+.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON AUGUST 5 1 , 191+9 (In thousand of d o l l a r s ) ASSETS Total Boston 22,797,1+30 85l+,755 56^,567 50,901 Total gold c e r t i f i c a t e reserves ~~ 25,561,997 885,656 Gold c e r t i f i c a t e s New York Phila, Cleve, Rich. 7,085,198 1190,187 1651+.971+ 1095,551 Atlanta Chicago S t , L o u i s 981,81+5 1+571,798 695,696 Minn, Kans.Cy. D a l l a s SanFran. 1+78,951 901,593 61+0,366 2690,516 Redemption fund f o r F. R. notes Other cash Discounts and advances 292,155 530,985 I n d u s t r i a l loans U« S. Govt, securities: Bills Certificates K o t es Bonas 557 5,1+85,312 5,958,1+00 302+,600 7,775,200 35,ll+l 7,151 1+6,1?!+ 71.257 52,572 1+1,320 85,059 7,129,572 1256,826 1706,211 11I+8,123 1023,165 2+656,357 1+8,1+60 589,855 ll+,750 7,659 30,750 15.625 19,1+50 9,755 50l+ 1 52 21,669 1+.1+77 56,007 i+9,871 1+5.545 22,578 55,240 737,21+1 501,529 936,855 15,196 21,866 25,586 1+3,716 665,952 2752+,252 7,280 2,2+52 12,727 8,650 884,966 232,12+7 314,524 218,782+ 182,711+ 508,533 181+.176 110,327 1,2+12,081 2+05,871+ 51+9,550 332,511 319,44? 869,095 322,002+ 192,891 72,187 20,71+9 28,091+ 19,551+ 16,531 45,1+51 16,1+61 9,861 1,82+2,62+5 529,651 717,111+ 1+99,ll+5 1+16,852 1160,192 2+20,187 251,707 162+.339 288,195 ll+,733 576..Q71 11+7,2+13 301,977 257,732 527,962 15,175 26,990 536,316 688,91+5 — 235,112 1+11,058 21,012+ 536,595 46,659 10,289 5,512 2+0,1+71+ 10,191+ T o t a l U,s» Government securities T o t a l loans and oans and securi t i e s Due from f o r e i g n banks 17,525,512 1205,579 4,211,879 1188,2+01 1609,082 1119,991+ 935,544 2605,271 91+2,828 562+,786 82+5,858 754,656 151+5,871+ 18,055,052+ 1210,750 4 , 601,711+ 1196,51+1+ l622+,706 1129,761 939,821 2653,11+2 962+,69!+ 567,218 758,12+8 1556,068 852,2+88 i+8 3 l / 15 2+ 2+ 2 2 7 2 1 2 2 1+ F.R.notes of other banks 119,332 Uncollected items 2,198,685 Bank premises 52,627 7,2i+9 165,253 1,148 lk,555 2+2?J51 7,945 9,082+ 155,2+77 5,009 5,686 189,269 2+,759 11,02+2 19l+,05l 2,2+99 10,319 12+1,507 1,538 16,098 5l+9,o69 3,l?l+ 6,510 128,951+ 1,910 9,205 72,016 1,156 7,672 120,650 2,539 2+,308 97,265 730 17,6ol+ 179,685 2,2+20 9,H+9 50,U3 8,687 12,821 8,574 6,998 19,953 8,152 2+,l65 6,22+0 5,565 1 1 ^ otner assets TOTAL ASSETS 131,72+1 2+i+,191,617 23l2+,309 12,259,910 2602,581 3574,186 2513,262 2l2+l+,8l9 7734,307 1862,639 1162,570 19^,951 1542,255 4542,028 l/ After deducting $33,000 participations of other Federal Reserve Banks,
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