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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, September 17,19^8) September 16, I9U8 H*Iul CONDITION OF THE FEDERAL KBSBH7B BANKS During t h e week ended September 15, member bank r e s e r v e b a l a n c e s i n c r e a s e d $920,000,000, A d d i t i o n s t o Member bank r e s e r v e s r e s u l t e d from d e c r e a s e s of $670,000,030 i n T r e a s u r y d e p o s i t s w i t h F e d e r a l Reserve Banks, $131,000,000 i n money i n c i r c u l a t i o n and $5,000,000 i n T r e a s u r y cash, and i n c r e a s e s of $87*000,000 i n Reserve Bank c r e d i t and $57,000,000 i n gold s t o c k , o f f s e t i n p a r t by an i n c r e a s e of $30,000,000 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 # Excess r e s e r v e s of member banks on September 15 were e s t i m a t e d t o be approximately $1,810,000,000. Holdings of l o a n s , d i s c o u n t s and advances decreased $27,000,000 and of United S t a t e s Government s e c u r i t i e s £35,000,000* The d e c r e a s e i n h o l d i n g s 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 $525*000,000 i n b i l l s and $100,000,000 i n c e r t i f i c a t e s and an i n c r e a s e of $590,000,000 i n bonds* 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 during t h e week and t h e year ended September 15, I9J48, 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 September 15, September 8, September 17, I9U8 I9U8 19^7 ( 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 r e d i t 21,205 28U U32 + 35 27 1U9 + - 551 152 75 T o t a l Reserve Bank c r e d i t Gold stock Treasury currency 21,921 23,850 U,57l + + 87 57 - U73 Member bank r e s e r v e b a l a n c e s Loney i n c i r c u l a t i o n T r e a s u r y 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 F.R» accounts 18,737 28,156 1,321 661 1,);67 + + - - 920 131 5 670 30 + 1 ,915 + 21 +1,609 + + - hll 15 U21 105 STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) rUul(a) Increase or decrease since S e p t , 15, 19^8 S e p t . 17, S e p t . 8, 19^8 19^7 ASSETS Gold certificates Redemption fund for F. R. notes Total gold certificate reserves Other cash Discounts and advances Industrial loans U. S. Govt, securities 1 Bills Certificates Notes Bonds Total U.S. Government securities 21,970,672 620,975 22.591.6U7 26^,565 285,565 930 + 57,998 + 2,001 + 59,999 + 52,0U2 - 26,596 + 7 6,155,872 1,827,159 1,787,U00 -52U.785 -100,200 8,U5U,59U "~ Total loans and securities Due from foreign banks F,R. notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS +1,951,002 - _ 8U.551 +1,866,U50 + 11,661 • 155,786 899 -7,U00,5U5 -2,198,277 +1,515,100 +590,275 +7,75U,9oU - 5U,7io - - 61,299 - 550,618 21,205,005 2i.U89.50Q U9 1UU,202 5,U97,5l6 52,Uoo 152,821 + 28,U07 +1,095,558 5 - 21,878 397,751 50 + 9,968 + 256,006 + 557 + 105,072 U8,172,500 +1,150,826 +1,829,915 L I A B I L I T I E S Federal Reserve notes Deposits: 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 i n c l u d i n g accrued dividends TOTAL LIABILITIES C A P I T A L ACCOUNTS Capital paid i n Surplus ( S e c t i o n 7) Surplus ( S e c t i o n 13b) 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 o d e p o s i t 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 2U,056,510 - 18,756,599 661,0U5 UH.891 U65,5QQ 20,272,855 5,065.8U7 + 919,827 - 67Q,26U + 5,5U6 - 2,085 +255,026 +9UU,880 +1*608,59U + U2o,6U9 2o,2U7 5U,586 +1,97U,610 + 510,811 13,805 U7,U08,795 + 57Q +1,126.251 U,795 +1,771,059 199,757 UU8,189 27.5U5 88,258 U8,172,500 72,oU5 J + U67 + U,128 Hi, 130,826 6,oUl 509,587 6,515 + 8,566 + 88 + UU,105 +1,829,915 2,6f. 51*056 902 - U07 51 2,53U 1.U26 Hj+,l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 15, 19^8 ( 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 Redemption fund f o r Total Eoston New York 21,970,672 770,795 7,336,827 620,975 53,56k 61,762 F. R. notes T o t a l gold Phila. Cleve. Rich. Atlanta Chicago S t . L o u i s 972,189 lb2o,552 lob7,825 1015,978 b56b,590 58,885 75,636 57,555 bo,679 95,630 Minn. Kans.Cy. D a l l a s SanFran. 585,956 1*25,271 790,18b 522,0332722,672 b5,b6l 22,38b 56,61*5 27,179 b7,6l5 certificate resenres other cash 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 : 22,591,61*7 82u,559 7,598,589 1051,071* 11*93,988 1105,560 105l*,657 i*l*6o,22o 651,1*17 1*1*5,655 826,829 261*,565 27,1*55 1*7,875 12,651* 2l>,8l*o I5,9bb 19,115 57,21*0 10,275 11,01*1 11,595 285,565 930 17,51^ - - 51113 6,155,872 1*12,^79 Certificates tf°tes 1*,827,139 1,787,1*00 8,1*51*,59b 52b,500 1,157,1*61 5bb,802 1*62,778 315,1*9** 21*1,999 685,879 266,521 11*7,753 224,998 120,156 1*28,586 127,671* 171,358 116,081 89,608 253,968 98,688 5b,711 85,312 568,551 2,027,260 605,912 810,51*2 51*9,075 l*25,85i* 1201,296 1*66,805 258,787 59l*,077 Bonds 90,1*05 - - 51*9,212 2770,287 12,292 51*,285 21,978 687 25,071 199 15,122 bb 12,565 - - 5l*,508 - - 15,1*61* - - 6,570 - - 11,710 - - 9,59l* - - 25,261* - - 1,1*71,271 1*58,285 588,2b7 598,1*91 507,611 881,791 327,71*7 187,811 285,999 278,070 558,070 218,761 1*38,193 81,005 162,255 385,151* 767.1*83 T o t a l U.S.Government securities 21,205,005 11*25,1*86 5,08l*,578 l5l!*,675 2052,925 1577,11*1 1065,072 5022,95b 1159,759 6b9,062 988,586 960,988 1926,001 21,1*89,500 lbb5,ooo 655,652 1000,096 970,582 I9b9,265 T o t a l loans and securities" Due from f o r e i g n banks ^9 I . R . n o t e s of o t h e r banks l b b , 2 0 2 Uncollected items 5,b97,5l6 Bank premises 32,bOO other assets TOTAL ASSETS 152,821 5,i7b,985 1557,558 2058,195 1592,507 1075,657 5057,bb2 1175,225 3 l / l 6 6,566 2"b,b6l 271,525 618,581 1,20b 8,106 io,72i 56,112 b 8,565 259,b71 3,082 b 7,697 5b2,l29 b,835 2 15,005 310,329 2,586 2 11,500 222,b70 1,586 7 18,096 569,250 5,02b 2 7,57b 157,211 1,958 1 17,817 100,628 1,188 2 9,580 182,817 2,b05 2 5,668 166,267 767 b 18,675 517,ObO 1,665 I0,b9b lb,650 9,811 7,676 21,751 8,758 b.515 7,175 6,975 lb,205 b8,172,500 258b,bog 15,5ob,725 28b2,b62 59b6,556 28b9,5b2 2592,bbl 8167,010 1992,218 I256,b77 2obo,095 1711,565 5i05,b22 l/ After deducting $55,000 participations of other Federal Reserve Banks. H.U.l(c) L I A B I L I T I E S Total Boston F e d e r a l Reserve n o t e s 21*, 056, 310 ll+20,l+89 Deposits: •-ember b a n k - r e s e r v e a c c t . 18,736,599 799,681 U , S . T r e a s u r e r - g e n e r a l a c c t . 66l,0l+3 36,066 Foreign 1+11,891 25,996 Other 1+65,300 2,902 Total d e p o s i t s 2 0 , 2 7 2 , 8 3 5 862,61*5 Deferred a v a i l a b i l i t y items 5,065,81+7 251,751 Other l i a b i l i t i e s i n c l u d i n g accrued dividends 13,803 797 TOTAL LIABILITIES 1+7,1*08,793 2555,682 Capital paid in 199,737 11,335 Surplus ( S e c t i o n 7) 1+1+8,189 28,117 Surplus ( S e c t i o n 15b) 27,51*3 3,oil Other c a p i t a l accounts 88,258 6,261+ TOTAL LIABILITIES AND 1*8,172,500 253i+,l+09 CAPITAL ACCOUNTS Contingent l i a b i l i t y on b i l l s purchased for f o r e i g n c o r r e s p o n d e n t s 902 57 Commitments t o make i n d u s t r i a l loans 6,0l+l 75 F.R. n o t e s o u t s t a n d i n g 2l+,800,597 ll+8l+,2l8 C o l l a t e r a l for F . R. n o t e s held by F . R. A g e n t s : Gold c e r t i f i c a t e s 13,559,000 1+60,000 E l i g i b l e paper 25,016 1,575 U.S.Govt, s e c u r i t i e s 11,975,000 1100,000 Total Discounts and advances 283,565 I n d u s t r i a l loans 950 U.S. Govt, s e c u r i t i e s 2 1 , 2 0 5 , 0 0 5 Within 15 days 1*0,522 756 1,666,677 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 15, I9I18 ( 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. 5,505,81*8 161+5,665 2151,51+6 1679,157 1526,062 1+577,681 1090,1+10 625,965 93*1,501 6,501,125 176,068 1 / 153,551* 597,177 7,027,921+ 53l*,221+ 861+,016 1559,1*51* 7 9 1 , 2 3 6 33,582 1+5,61+1 1+2,185 30,761+ 5l*,9l*i 18,610 1*,787 6,297 5,625 935,11*9 11*1*6,533 855,656 201,669 296,661+ 27l+,565 752,070 2657,297 1*0,276 86,190 15,572 51,653 502 5,717 808,1+202998,857 22l+,55i 1+83,972 666,683 1+0,818 13,673 5,576 726,550 li+5,506 1*55,181+ 37,71*8 9,1*95 1,595 503,822 87,525 863*129 1+2,750 13,293 1*79 919,651 156,622 Dallas SanFran. 617,275 2503,715 875,791* 2150,930 29,71+0 1+9,979 12,913 33,1*27 1*69 36,571* 918,9162270,910 11+6,972 261,850 586 628 581 1,251 51*6 2,169 1,511 519 877 3,795 71*3 13,071,791 2781,221+ 3875,851* 2810,001+ 2559,579 8062,679 1963,ol+7 1216,185 2011,293 1683,71*9 5037,706 69,001* ll+,627 19,009 8,527 7,802 25,190 6,565 1*,397 6,875 7,731* 18,672 138,596 35,350 1*2,175 21,210 19,110 66,217 16,972 11,255 16,11*8 11*, 111 58,952 1,1+29 521 1,073 1,137 1,307 2,ll+o 7,519 1+,1*89 1,006 3,31*9 762 18,013 6,772 8/29I+ 6,252 5,188 11,1*95 5,113 3,589 l*,61+2 1+,661+ 7,952 I3,30l*,723 281+2,1+62 591*6,556 281+9,31*2 2392,1+1+1 8167,010 1992,218 1236,1+77 201+0,095 1711,565 5105,1*22 22 32 ll* 2 - 1*87 - - 385 1,091 5,687,777 1690,199 2195,81*0 1725,826 1571,897 1*665,765 1128,271* 61*0,518 3,750 961,895 2 / 289 73 83 hh 37 123 32 31 79 - 113 61*9,621 2600,767 l+,770,ooo 550,000 735,000 625,000 675,000 2780,000 315,000 2 0 0 , 0 0 0 2 8 0 , 0 0 0 169,000 2000,000 1,000 2I+5 9,095 1,1*85 - 2,1+25 - - 6,336 2,855 1,000,000 1200,000 1500,000 1125,000 750,000 1900,000 950,000 1+50,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES 16 t o Over 31 t o 61 t o 6 months 91 days t o 1 to 2 2 to 5 5 years 50 days 90 days 60 days t o 1 year years 6 months years 1*7,775 62,557 132,696 15 12 50 39 57 2 11* 5,652,522 2,21+6,275 1,1+71+, 689 1,972,91*8 1,096,750 61*0,550 1,822,591 6,652,003 l / A f t e r d e d u c t i n g $258,261+,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 $615,000 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.
@FedFRASER