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.BOARD OF GOVERNORS OF -THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, September 12,19^7) H.lia September 11, I9U7 CONDITION OF THE FEDERAL RESERVE'BANKS During the week ended September 10 member ba,nk reserve balances increased $30i|, 000,000. Additions to member bank reserves arose from an increase of $50,0QQ,000 in gold stock and decreases of $216,000,000 in Treasury deposits with Federal Reserve; Banks, $189,000,000 in nonmerfiber deposits and other Federal Reserve accounts' and $7*000,000 in money in circulation, offset in part by a decrease of $151,000,000 in Reserve Bank credit and an increase of $6,000,000 in Treasury cash* Excess reserves of member banks on September 10 were estimated to be approximately $1,100,000,000. The corresponding figure-for September 3* a s given in last week's statement, should have been $9u0,000,000*. Holdings of loans, discounts and advances decreased. $5,000,000 and of United States Government securities $182,000,000. The decrease in holdings of United States Government securities reflects a decrease of $353*000,000 in bills and increases of $66,000,000 in certificates and $105,000,000 in notes# Changes in member bank reserve balances and related items during the week and the year ended September 10, 191*7* were as follows* Increase or decrease sjnce Seirt # 10, 19^7 Sept, 3, 19U7 Sept. 11, I9h6 ( I n m i l l i o n s of d o l l a r s ) U.r 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 22,01*2 122 307 T o t a l Reserve Bank c r e d i t Gold s t o c k Treasury currency 22,1*72 21,815 14,551 - 151 + 50. i -1,1*63 +1,527 + 6 Llember 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 witfy F # R. Banks Nonmember-deposits and! other F # R# accounts 16,932 26,71*2 1,329 2U3 1,592 + 30k 7 + 6 - 216 - I89 + 81*6 + 21*3 -" 951 + 1*1* - Ill - . 182 5 •+. 35 -1,21*9 - 129 87 HJul(a) at*»S£lBNT" OF 'CONDITION OF THE TT7I?tVE >EDBRAL RESERVE BAJIKS COMBINED ( I n thousands of d o l l a r s ] Increase or decrease since September 10, September 3# I9h7ASSETS Gold c e r t i f i c a t e s Redemption fund f o r F,# R# n o t e s Total 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 I n d u s t r i a l loans Acceptances purchased U. S f Govt, s e c u r i t i e s : Bills Certificates Notes Bonds Total U, S. Government securities ' '"J"',JJ 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 banks F. R. n o t e s of o t h e r laanks U n c o l l e c t e d items Bank premises Other a s s e t s TOTAL ASSETS 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: ilember bank - r e s e r v e ac6e>unt ' U . S . T r e a s u r e r - general account Foreign. Other Total d e p o s i t s 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 ' dividends TOTAL LIABILITIES •* C A P I T A L ACCOUNT S 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 15b) . Other c a p i t a l a c c o u n t s TOTAL LIABILITIES. AND CAPITAL..ACCOUNTS 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 : 19^7 19,892,171*. 699,972 20,592,116 257*957 ••120.1*95' 1,905 — September 11 # • . + + + + + ft5,502 12,529 58,031 ,6,021 J*, 526 97 . - }9h6 +2 ,56ft,998 72,095 - +2 ,492,905 + - 50,295 128,950 800 7,899 -' •* 668,821 1*22,695 121,300 35,600 15,806,098 7,0ft2,2l6 i*7ft,300 719,690 -552,722 + 66,000 +105,000 22toft2;3oft; -181,722 -1 ,2ft8,ftlft 22,-;i.6it.i7oi 99 115<11*7. •2,ft6&i82, •;3ii837'-. .-56,759 1*5,666; 811 -186,151 -1 ,38ft,ftl*5 + 13.U71 +102,620 + 35 + 3.2U2 - 2,736 + 1,2.0ft, 755 2ft, 650,1*12. + 27,67ft + — 5 + + + •7 15,851 156,66ft ': 955 '6,683 185.1*72 • 16,932,002 , 21*2,85k • 1*28,670 •• 531i666 ' .18,155,192 • ' 2>i6i,117 +30ft,ft91.. -216,555; -11*1,020 - 18,159 -101,023 + 67,809 + + • + 689 - ' ft,851 • •f +! + + • - 8ft5,6l0 1*3,873 263,520 101,586 727,51*9 235,718 - 17,009 ^,965,730 • l'95,367 U59i825, •27,1*55 • l*2;,ft36:* 'If5,.666i811 ' + • 61' •••5,109 +2 ,153,81*8 ' . •,+ ! '•'9*015 81,1*68 27 -• 39,6Q3 +1 ,20ft,755 + — •" + ; ;2,05lt - "2,756 •i • •2fo 7* ' .-J 3i387 U90 76 k.9f° 4. +' • 3,587 l,ftlo K.l+.l(b) STATEMENT. OF COMDITIOM OF THE FEDERAL R SERVE-BANKS ON .SEPTEMBER 1 0 , I9l*7 ( 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 Mev/ York 19,892,171* 715,070 6,754,216 Phila* Cleve* Rich. 805,556 1126,218 iiedemption fund f o r Atlanta Chicago •St.Louis' Minn. K a n s . c y , 8l»l+,55Q; 771;295 1*152,665 568,558 35^,135 ' : F. R. notes; .. 699.972 , 55,392 121,227 60,652 . . 75,030 59,773 1*7,797 97,886 1+5,205 : D a l l a s tsanFran. 597*638 : • . l+7l+,05l+2728,239 . 22,079' '36,006 • 26,0l+3 52,682 T o t a l gold c e r t i f i c a t e reserves ., . Other cash- 2o,592,U*6 237,937 770,1+62 22,508 6,875,1*1*3 lii+,997 Discounts and advances 120,1+95 I n d u s t r i a l loans 1,905 U. S . Govt, s e c u r i t i e s : Bills ^ i 13,806,098 6,836 3 38,620 — 913,762 866,1+08 1201,21+8 90i*,305 10,1+86 18,1+51* 12,2ol+ 5,915 1,6?1 21+.265 8lV, 092 1*250,551 613,763 376,211+635,61*1+ 18,096 38,215 11,1+77 7,121 8,806 5,1*81 31 3,100 2,639,717 1112,819 1395,612 1092,893 ll*,982. 935,836 1938,679 7,612 -—* 828 — 675,127 1*1*7,271 500,0972780,921 8,739 36,«3l* 6,1+02-— l>27l+ -— 760,1+10 / 5,180 —* 551,723.231*2,21+9 - 7*pl*2;2l6. 1*63,301 1,81+9,277 1+67,185 697,208 k29,i+ol+ , 556,129 870,751 378,1*69 199,630 359,695 351,273 659,911* 1+71*,300^ 31,201+ 121+,551 31,1*65 1*6,958 '28,920 .23,986 58,&*i+ 25J+90 13,1*1*5 22,879 22,312 l*l+.l*lt6 719,690:..•: 1*7,31*3, 188,990 1+7,71*5 71,252 11+3,885 36,395 '•'? -.88/985 38,678 2o.,l+02 3l*,7.l6 35,835 67,1*1*1 Certificates IJotes " 3 ends "*"". f ' '••' '"•• " " / " " " " '' " " " " " " •"••il H i , • • • . — _ m • 1 .11 „.—i ,,, „ . , 1 1 , ^ , U K i mi ,!_•)• I 1 ..^ i ^ , . .m, .mi • • • . 1 1 HI 1 1 .111 .1 , 11 ., m i,>, m m n n j l ' ••• W •' • ' ' T o t a l U^^Government securities 22,&i2 # 3(i* 11*55,615 1*,802,535 l659,2H* 22ii,o3o 1595,100 1352,3^6 2957,039 1117>76U — 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 other bames uncollected items tfank premises uoner asse.s TOTAL ASSETS • • • • • ' • ! Il I II I 1 I • • Illl'llll I I . l ' — I • II I I l " I I I ,' IUI..I . II. ijUl • '•. •!.!. ' 680,71*8 1157,700 I | I II llll I I •" III I m II I • f> 939,163 2111^,050 _| I , • « • ' • • • " '" I' I I I I I I . • '22,.i61+,70l+ H*62,l+5l+ i+,8i+l,155 1667,000 2255,295 i6oo,6l2 1555.1*1*6 2972,021 1125,576 -^ 6 l/30 , 8 h 5 ii 5 ,ii+7 ; l+,372 2o,693 5.866 5,61*5 7,971 11,616 H*,526 7,53U 10,551 2,1+68,182 196,606 l+8l+,226 162,529 3,133 216,880 3,775 229,999 2,61+8 H*8,980 1,1+97 376,165 5,050 115,567 1,979 75,512 1.219 3,1*18 6,650 3,518 2,888 7,312 5,582 1.5lt8 31#857 1>259 56,759 5,597 8>312 13,827 .. • 9 5 1* - H ". 681,576 116^,102 ,91+0,1+57 2119,230 h 7,01*8, 5 9 3,712 15,853 156,655 2,1+71* 106,961 775 218,121+ 1,758 2.605 2.391* 5.620 1+5,666,811 21+61,261+ 12,288,685 2718,81+8 5687.956 2761,260 2557,619 7661,832 1879,082 1153,521* 1955,318 1563,116 5178,509 l / A f t e r d e d u c t i n g $69,000 p a r t i c i p a t i o n s of o t h e r F e d e r a l ' R e s e r v e Banks. H.l*.3,(c) L I A B I L I T I E S Total STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER*TO,* l$hl ( I n thousands of d o l l a r s ) Boston New York Phila. Cleve. Rich. A t l a n t a Chicago S t . L o u i s iiiinn. Kans.Cy. F e d e r a l Reserves n o t e s 21*,650,1*12 11*63,838 5,638,262 1662,898 2134,672 1720,627 Deposits: iiember b a n k - r e s e r v e a c c t . 16,952,002 71*9,1*1*3 5,198,025 829,81*8 121*8,920 776,802 U . S . T r e a s u r e r - g e n e r a l a c c t . 2J*2,85i* 922 250,281 589 519 1,057 2l*,812 1 / 165,688 1*28,670 Foreign 35,951* 18,9i*3 31,315 Other 531,666 2,671* ' 1*5*1,1*12 2 a 136 7,933 2,iel* Total d e p o s i t s 18,135,192 777.851 6,ol*8,l*olt 863,738 1293,331 798,986 Deferred a v a i l a b i l i t y items 2,161,117 173,1*11 380,530 153,923 192,898 2ol*,969 Other l i a b i l i t i e s i n c l u d i n g accrued dividends . 17,009 1,011 5,110 1,261* 1,769 1,215 TOTAL LIABILITIES i*l*,965,730 21*16,111 1 2 , 0 7 0 , 5 0 6 2661,825 3622,690 2725,797 Capital paid in 193,367 11,201* 68,157 11*, 303 18,801 8,11*1 Surplus (Section 7) 1*39,823 27,557 136,51*9 3l,720 1*1,391* 20,676 Surplus (Section 13b) 27,1*55 3,012 7,253 1*,1*89 1,007 3,325 Other capitalaccounts 1*2,1*56 3U_3JP_ 6,1*18 3,513 . k,.00i 3,321 11*10,221 1*611*,127 llol*,26o 71*8,155 2565,851 619,1*58 1,1*1*1 1,881 1,496 15,851 52,578 13,531 2,296 2,85Y 7/7Y6 61*2,261 767,7U3 2623,11*7 11*8,653 327,517 105,707 D a l l a s SanFran. 9i*7,578 620,598 2726,909 1*50,11*5 81*6,257 810 1*57 9,665 13,531 • 1./61599 462,023 861,197 65,71*2 119,800 805,228 2093,892 2,367 1,231* 31*, ol*l* 12,758 606,622 7v9 820,019 2176,1*87 97,01*3 210,921* 1,061* 2,705 811 610 2 5 2 7 , 6 8 ! 7567,1*91*' 1853,039 1135,002 1929,253 1538,331 5116,218 7,1*1*1 23,11*1* 6,31*7 1*,21*8 6,1*58 7,203 17,920 18,663 65,078 16,577 10,997 15,J2Q 13,777 38,106 762 1,1*29 521 1,073 1,137 1,307 2,il*o 5,072, l* t 687 2^598 2„g,Qu 2,-756 cJm 3,925 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1*5,666,811 21*61,261* 12,288,633 2718,81*8 3637,956 2761,260 2357,619 7661,832 1879,082 1155,521* 1955,318 1563,116 5178,309 Contingent liability on bills purchased for foreign correspondents 3* 387 0 / 7 r,c>. 217 271* 166 *61 118 112 298 .118 315 139 85 Commitments to make industrial loans 7j[;08 92 1*27 3,750 1,1*91 153 30 580 F.R. n o t e s o u t s t a n d i n g 25,505,1*58 1508,921 5,792,31*6 1707,1*31 2178,61*7 171*7,137 l!*5l*,l*39 1*707,830 1153,21*2 .622,279 61*6,529 2812,301* 971*. 353 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 s Gold c e r t i f i c a t e s 12,088,000 1*1*0,000 3,1*70,000 .515,0150 685,000 610,000 535,000 2850,000 300,000 181*,000 280,000 169,000 2050,000 E l i g i b l e paper 55,936 l*,9l*8 2,581* 29,055 " 3,525 — 3,765 6,579 90 5,370 U.S. Govt, s e c u r i t i e s 15,771,125 1100,000 2,1*00,000 £200,000 1500,000 1160,000 950,000 1900,000 9 2 1 , 1 2 5 - 1+1*0*000 700,000 500,0001000,000 i&TURITY DISTRIBUTION OF LOAMS AND SECURITIES 2 to 5 Over 6 months 1 to 2 61 t o uithin 16 t o 91 days t o 31 t o 5 years years years 90 days 15"days to 1 year 50 days 6 months Total 60 days ' Discounts and advances Industrial loans U. S. Govt, securities < I ' l l 120,1*95 1,905 22,ol*2,'3ol* 93,782 1,357 ,390,(01*0 15,374 — 2,l*l*l*,i*l*2 5,761* 22 3,898,807 3,898,807 5,575 25 1*, 675,612 26 3,021,880 81* 3,633,1*33 110 295,1*00 1 / A f t e r d e d u c t i n g $262,888,000 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 / A f t e r d e d u c t i n g $ 2 , 3 0 3 , 0 0 0 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 301 11*8,350 531*, 31*0
@FedFRASER