FEDERAL RESERVE BANK OF SAN FRANCISCO

Transcription

1 FEDERAL RESERVE BANK OF SAN FRANCISCO Digitized for FRASER

2 To the Member Banks of the Twelfth Federal Reserve District Gentlemen: There is presented herewith a condensed comparative statement of condition of the Federal Reserve Bank of San Francisco at the close of business December 31, 1971, and December 31, 1970, together with a comparison of earnings and expenses for 1971 and Yours very truly, President January 6, 1972

3 COMPARATIVE STATEMENT OF CONDITION ASSETS Gold certificate account... Special Drawing Rights certificate a cco u n t... Federal Reserve notes of other Federal Reserve banks. Other cash... December 31,1971 December 31, 1970 $ 1,832,851, $ 1,046,031, ,000, ,000, ,215, ,833,303.00? 29,570, ,810, Discounts and advances: Secured by United States Government and Agency obligations... 10,000, j Federal Agency obligations... 66,984, United States Government securities: Bills... Notes... Bonds... Total United States Government securities ,164,707, ,664,030, ,910,276, ,690,148, ft 453,868, ,924, $ 9,528,851, $ 8,769,102, $ 9,605,835, $ 8,769,102, Cash items in process of collection. Bank premises... Other assets: Denominated in foreign currencies All oth e r... 1,354,451, ,333,179, ,950, ,298, ,142, ,410, ,775, ,144, $13,124,791, $11,459,809, LIABILITIES Federal Reserve notes $ 6,461,422, $ 6,237,354, Deposits: Member bank reserve accounts... United States Treasurer general account 5,085,674, ,031, Foreign... 35,280, Other deposits... 81,007, Total d eposits... $ 5,414,993, Deferred availability cash items 948,652, Other liabilities ,800, Total Liabilities... $12,933,868, ,814,259, ,107, ,250, ,833, $ 4,031,450, ,586, ,651, $11,283,043, CAPITAL ACCOUNTS Capital paid i n...$ 95,461, $ 88,383, S u r p lu s... 95,461, ,383, Total Liabilities and Capital A ccou n ts... $13,124,791, $11,459,809, Contingent liability on acceptances purchased for foreign correspondents...$ 32,117, $ 32,513,000.00

4 EARNINGS AND EXPENSES CURRENT EARNINGS Discounts and advances... $ 1,334, $ 4,637, United States Government securities ,924, ,481, Foreign currencies , ,354, All other... 65, , Total current e a rn in g s... $511,659, $535,553, CURRENT EXPENSES Total current expenses... $ 37,821, $ 33,651, Less Reimbursement for certain fiscal agency and other expenses... 2,764, ,946, Net expenses... $ 35,057, $ 30,705, PROFIT AND LOSS Current net earnings... $476,602, $504,848, Additions to current net earnings: Profits on sales of United States Government Securities (net)... $ 14,197, $ 1,155, Profits on foreign exchange transactions , All oth e r... 16, , Total additions... $ 14,214, $ 1,624, Deductions from current net earnings: Loss on foreign exchange transactions (net)... $ 1,030, $ 0 A llo th e r... 22, , Total d e d u ctio n s... $ 1,053, $ 123, Net additions... $ 13,160, $ 1,500, Net earnings before payments to United States Treasury... $489,763, $506,349, Dividends p a i d... 5,519, ,240, Payments to United States Treasury (interest on Federal Reserve notes) ,164, ,682, Transferred to Surplus Surplus January 1.. Surplus December 31 $ 7,078, $ 1,425, ,383, ,957, $ 95,461, $ 88,383,050.00

5 AND FEDERAL RESERVE BANK OF SAN FRANCISCO January 1, 1972 O. M E R E D IT H W ILSO N, Chairman and Federal Reserve Agent, Stanford, California S. A L F R E D H A LG R E N, Deputy Chairman, Los Angeles, California C A R R O L L F. B YR D, Willows, California C H A R L E S R A Y M O N D D AH L, San Francisco, California M A R R O N K E N D R IC K, San Francisco, California M A S OJI, Yuba City, California JOSEPH R O SEN BLA T T, Salt Lake City, Utah C A R L E. SC H R O E D ER, Orange, California RA LPH J. VOSS, Portland, Oregon MEMBER OF FEDERAL ADVISORY COUNCIL A. W. C LA U SEN, San Francisco, California HEAD OFFICE O FFICERS ELIO T J. SWAN, President A. B. M E R R IT T, First Vice President J. HO W ARD C R A V EN, Senior Vice President G. R. K E L L Y, Senior Vice President JOHN B. W IL LIA M S, Senior Vice President D. M. D AVEN PO R T, Vice President W. H. HUTCHINS, Vice President H. B. JAM ISO N, Vice President D. V. M A STEN, Vice President R IX M A U R E R, JR., Vice President LO U IS E. R E IL L Y, Vice President, and General Counsel R. G. R E T A L L IC K, Vice President D. L. A L E X A N D E R, Assistant Vice President E. E. BER N ST EIN, Assistant Vice President JA M E S M. B RU N D Y, Assistant Vice President W IL L IA M M. BURKE, Assistant Vice President A. S. C A R E L L A, Assistant Vice President W ILLIA M L. COOPER, Associate General Counsel JA M ES J. C U RRAN, Assistant Vice President M A R T IN S. DEPPER, Examining Officer G EO RG E P. G A LLO W AY, Assistant Vice President R. C. JOHNSEN, Assistant Vice President V E R L E B. JOHNSTON, Senior Economist R. A. K A RLSSO N, Chief Examiner R IC H A R D G. LA M B ERT, Assistant Vice President ER N EST E. LIVIN G STO N, Assistant Vice President G A U LT W. LYNN, Director of Research W. E. O 'D O N N ELL, Assistant Vice President ER N EST C. OLSON, Senior Economist C H A R L E S R. PETERSEN, Senior Economist R. A. REM ED IO S, Assistant Vice President H ER B ER T R. RU NYO N, Senior Economist KEN T 0. SIMS, Assistant Vice President E. A. W ELLS, Assistant Vice President C. W OESSNER, Assistant Vice President R. E. M cken D R Y, General Auditor AM ED EO G. CONTE, Assistant General Auditor

6 LOS ANGELES BRANCH L E L A N D D. PRATT, Chairman, San Diego, California R A Y B U R N S. D EZ EM B ER, Bakersfield, California W. G O RDO N FERG USO N, Whittier, California RUTH H A N D LER, Hawthorne, California C A R L E. H A R T N A C K, Los Angeles, California ED W A R D A. SLO A N, Los Angeles, California LIN U S E. SOUTHW ICK, Glendale, California P. W. C A V A N, Senior Vice President, and Manager W. G. DeVRIES, Vice President J. N. A A M O D T, Examining Officer J. J. CARSO N, Assistant Vice President H. A. ERNE, Assistant Vice President JOHN F. LUCEY, JR., Assistant Vice President G. D. P A R K ER, Assistant Vice President E. A. THOM AS, Assistant Vice President PORTLAND BRANCH JOHN R. HOW ARD, Chairman, Portland, Oregon F R A N K A N D ERSO N, Heppner, Oregon F R A N K L. SER V O SS, Medford, Oregon JA M E S H. ST A N A R D, McMinnville, Oregon LeRO Y B. ST A V E R, Portland, Oregon W. M. BROWN, Vice President, and Manager R. C. DUNN, Assistant Vice President, and Assistant Manager W. K. G IN TER, Assistant Vice President F. K. G R IM M, Assistant Vice President SALT LAKE CITY BRANCH JOHN H. B R E C K EN R ID G E, Chairman, Twin Falls, Idaho JOSEPH BIANCO, Boise, Idaho R O D E R IC K H. BROW NING, Ogden, Utah T H E O D O R E C. JACOBSEN, Salt Lake City, Utah R O Y W. SIM M O N S, Salt Lake City, Utah A. L. PRICE, Vice President, and Manager A. G. HO LM AN, Assistant Vice President, and Assistant Manager H. P. F R A N Z E L, Assistant Vice President DON W. SHEETS, Assistant Vice President SEATTLE BRANCH C. H EN R Y BACON, JR., Chairman, Seattle, Washington JOSEPH C E B E R T B A ILLARGE O N, Seattle, Washington T H O M A S H IR A I, Quincy, Washington A. E. SA U N D ER S, Tacoma, Washington PHILIP H. STANTON, Spokane, Washington W. R. SA N D ST R O M, Vice President, and Manager J. M. D A V IS, Assistant Vice President, and Assistant Manager E. R. LIGGETT, Assistant Vice President P. R. SMITH, Assistant Vice President