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Released f o r p u b l i c a t i o n F r i d a y morning, Apr. 1; not e a r l i e r . STATEM3NT FOR THE PRESS St. 5321 F e d e r a l Reserve Board March 31, 1927. CONDITION OF FEDERAL E3SERVE BANKS The c o n s o l i d a t e d s t a t e m e n t of c o n d i t i o n of t h e F e d e r a l r e s e r v e hanks on March 30, made p u b l i c by t h e F e d e r a l Reserve Board, s h o w s i n c r e a s e s f o r the week of $15,400,000 i n b i l l and s e c u r i t y h o l d i n g s , of $9,700,000 i n F e d e r a l r e s e r v e note c i r c u l a t i o n , and of $26,200,000 i n Government, d e p o s i t s , / d e c l i n e s of $10,500,000 i n cash r e s e r v e s and of $25,000,000 i n member bank r e s e r v e d e p o s i t s . Government s e c u r i t y h o l d i n g s i n c r e a s e d $10,$00,000 d u r i n g t h e week and open-market acceptance h o l d i n g s f 6 , 2 0 0 , 0 0 0 , v/hile h o l d i n g s of d i s c o u n t e d b i l l s d e c l i n e d $1,100,000. The F e d e r a l Reserve Bank of New York r e p o r t s a r e d u c t i o n of $20,300,000 i n discount h o l d i n g s f o r the week, San F r a n c i s c o a d e c l i n e of $12,800,000, and Cleveland of $3,500,000, while t h e F e d e r a l Reserve Bank of Boston shows an i n c r e a s e of $17,200,000, Chicago $14,100,000, P h i l a d e l p h i a $4,700,000, a n d St. Louis $3,000,000. Holdings of a c c e p t a n c e s purchased i n open market i n c r e a s e d $5,100,000 a t t h e New York bank and $2,500,000 a t St. Louis- I n c r e a s e s of $16,600,000 and $5,300,000, r e s p e c t i v e l y , i n t h e System's h o l d i n g s of Treasury n o t e s and bonds were p a r t l y o f f s e t by a d e c l i n e of $12,000,000 i n h o l d i n g s of Treasury c e r t i f i c a t e s . The p r i n c i p a l changes i n F e d e r a l r e s e r v e note c i r c u l a t i o n d u r i n g t h e week comprise i n c r e a s e s of $4,700,000 and $3,500,000, r e s p e c t i v e l y , r e p o r t e d by t h e P h i l a d e l p h i a and New York r e s e r v e b a n k s . A summary of changes i n the p r i n c i p a l a s s e t s and l i a b i l i t i e s of t h e r e s e r v e banks d u r i n g the week and t h e y e a r ending March 30, 1927, f o l l o w s : Increase or decrease during Year Total reserves Gold r e s e r v e s - $10,500,000 + $262,800,000 Total b i l l s and s e c u r i t i e s B i l l s discounted, t o t a l Secured by U.S. Govt, o b l i g a t i o n s . Other b i l l s d i s c o u n t e d + 16,4oo,ooo 1,100,000 - 176,500,000 176,400,000 - 11,700,000 + 255,000,000 + 9,300,000 8,200,000 - B i l l s bought i n open market + 6,200,000 - . 12,200,000 U. S. Government s e c u r i t i e s , t o t a l . . Bonds Treasury n o t e s . C e r t i f i c a t e s of i n d e b t e d n e s s . . . . + 10,900,000 + 6,300,000 + - 23,300,000 1,800,000 + - 16,600,000 12,000,000 Federal r e s e r v e n o t e s i n c i r c u l a t i o n . . + Total d e p o s i t s Members' r e s e r v e d e p o s i t s . . Government d e p o s i t s . . . . . . C - 52,400,000 124,000,000 + 43,300,000 68,400,000 9>700,000 + 5^,900,000 1,800,000 + - 26,000,000 + 26,200,000 + - 4,100,000 59,200,000 53,900,000 Released f o r p u b l i c a t i o n F r i d a y morning, April 1, 1927. not earlier. St. 5321a BE SOURCES Y'.I> LIABILITIES OF THB TW3LVB F3IBBAL E55.3.W BASICS COT3I13D ( i n thousands of d o l l a r s ) y a r . 30,1927 Mar. 23,1927 War. 31,1926 H S S 0 U 3 C E S Gold with Federal r e s e r v e a g e n t s , Gold redemption f u n d w i t h !J. S. Treasury . . 1,613,495 52,021 1,619,911 51,105 1,361,723 49,730 Gold h e l d e x c l u s i v e l y a g a i n s t F . E . n o t e s 1,665,516 620,488 735,*95 1,671,016 1,411,453 750,959 6o4,46l Gold s e t t l e m e n t f u n d w i t h F. R. Board . . . Gold and gold c e r t i f i c a t e s h e l d by "banks . . Total gold r e s e r v e s 3,021,899 Reserves o t h e r t h a n g o l d I6O,794 Total r e s e r v e s ^ o n - r e s e r v e cash B i l l s discounted: Sec. by U. S. Government o b l i g a t i o n s . . . Other b i l l s d i s c o u n t e d Total b i l l s discounted B i l l s bought i n otien market U. S. Government s e c u r i t i e s : Bonds Treasury n o t e s . . C e r t i f i c a t e s of i n d e b t e d n e s s T o t a l U. S. Government s e c u r i t i e s . Other s e c u r i t i e s Foreign l o a n s on gold T o t a l b i l l s and s e c u r i t i e s . . . Due from f o r e i g n banks Uncollected items Bank promises .111 other r e s o u r c e s 608,963 753,657 3,033,636 159,644 2,766,873 152,973 3,182,693 63,759 3,193,280 2,919,846 06,465 62,078 259.026 268,421 196,937 188,716 311,487 320,904 456,023 237,409 457,137 231,259 632,391 249,633 68,206 61,950 70,054 3 31,644 128,139 329,837 5,185 88,380 196,516 71,733 208,564 353,102 342,247 2,000 2,500 - 1,049,034 660 602,896 58,485 13,057 8,491 - 1,032,643 660 644,812 58,471 1,225,537 643 620,294 11,608 59,441 14,759 4,970,584 5,008,019 4,902,598 F. R. notes i n a c t u a l c i r c u l a t i o n Deposits: "ember bank - r e s e r v e account Government Foreign bank Other d e p o s i t s 1,711,337 1,701,642 1,656,482 2,274,464 2,215,243 15,622 2,300,454 5,700 5,759 17,424 Total d e p o s i t s . . . . Deferred a v a i l a b i l i t y i t e m s C a o i t a l paid i n Surplus All o t h e r l i a b i l i t i e s 2,327,501 2,329,337 TOT XL RESOURCES . L I A B.I L I T I S S 31,869 5,546 5o2,660 . TOTAL LIABILITIES Ratio of t o t a l 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 f o r f o r e i g n correspondents Digitized for C. FRASER 127,602 228,775 12,709 4,970,584 85,813 5,399 16,897 2,323,352 608,526 567,879 120,427 127,567 ' 223,775 220,310 12,172 l4,l4s 5,008,019 4,902,598 78.8$ 79-2# 73.4^ 147,698 147,946 69,161 RESOURCES RESOURCES A15D LIABILITIES OF THE FEDERAL RESERVE BAUKS ON MARCH 30, 1927. ( I n thousands of d o l l a r s ) Boston 3Tew York Phi l a . Clove. Rich. A t l a n t a Chicago St.Louis Gold with Federal Hoservo Agents 107,234 Gold redemption f u n d w i t h U . S . T r c a s . 8,325 ~F~"i^fo"tS"~~Gl'V a g a i n s t 115,559 Sold settlement fund With F.R.Board 34,256 Gold and g o l d c o r t i f . h e l d by hanks 30,573 378,610 120,878 196,254 11,171 9 >203 2,903 71,117 165,196 212,356 1,2^-2 2,527 5 >319 20,748 st Minn. Kans.Cy. 6l,208 64,696 Dallas - 5321b San Fran. Total 35,7o4 179,494 l,613,495 1*3^3 '9. 5 5—>_ 389,781 130,081 199,157 72,359 167,723 217,675 22,111 62,524 69,045 37,082 182,419 1,665,516 237,892 25,521 62,558 26,667 21,901 102,492 13,646 15,315 27,877 18,982 33,381 620,488 488,134 27,248 55,077 4,86o 3,959 55,034 15,044 7,o4o 7,9g7 8_'807_ J2>192 735_,S95_ Total gold r e s e r v e s Reserves o t h e r than gold 180,388 1,115,807 182,850 316,792 103,886 193,583 375,201 22,339 32,010 4,992 11,169 9,550 11,518 23,502 50,801 19,753 84,879 104,849 4,362 5,184 Total reserves non-reserve cash 202,727 1,147,317 137,842 327,96l 113,436 205,101 398,703 6,s6o 15,952 1,385 4,557 6,303 4,622 9,339 70,554 3,942 89,24l 110,033 72,566 256,712 3,132,693 l,l49 2',705 2,340 3,605 63,759 Bl EE:E?5;o2;ef11£3tl'CM !l:m Total b i l l s discounted B i l l s bought i n open market U. S. Government s e c u r i t i e s : Bonds Treasury n o t e s C e r t i f i c a t e s of i n d e b t e d n e s s 49,337 27,573 1,720 1,335 7,024 13,143 31,327 47,307 954 4,653 14,079 3,304 9,977 23,323 T o ta l U.S. Govt, s e c u r i t i e s Other s e c u r i t i e s 10,129 92,277 19,686 2,500 36,604 T ot a l b i l l s and s e c u r i t i e s 87,589 Due from f o r e i g n banks Uncollected items 3ank premise s jPjf A l l o t h e r r e s o u r c e s TOTAL RESOURCES c. 53,599 3,946 51 Is::: 11:21 1 ifil ^ 10'iS kill ld% g:?# 1:$ 30,655 10,397 74,608 17,963 30,594 19,944 5,773 8,631 6,625 :1,854 1,623 826 4,645 94 387 1,951 22,274 4,647 5,487 3,957 22,260 14,523 5,163 9,337 4,246 3,179 7,126 15,^73 7,099 2,432 48,491 120 , 299 49,961 33,396 20,U3 57,275 13,080 20,663 3,44o 27,657 l6,54o 64,871 247,992 3,021,899 _7^5__3J20 lj>C,794„ 27,994 40,695 22,379 456,023 237,409 2,264 3,673 6,706 12,750 14,745 24,055 68,206 83,330 196,516 25,124 353,102 3,537 9,035 39,069 2,500 269,851 85,227 91,163 35,652 43,484 153,693 65,569 28,938 47,479 37,746 102,643 1,049,034 660 660 6 0 2 , 8 96 34,204 23,143 36,498 10,372 151,368 54,894 57,938 51,120 24,952 75,433 28,825 58,485 3,473 1,752 4,459 2,774 2,149 7,118 2,895 7,972 3,957 16,276 1,714 1,124 13,057 483 332 2,138 2,264 993 316 1,935 229 1,027 2,165 354,772 1,6o4,Q89 331,791 489,764 208,976 282,989 647,454 173,840 135,112 201,657 138,379 401,761 4,970,584 LI RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MARCH 30, 192?. ( i n thousands of d o l l a r s ) A B I L I T I E S Rich. A t l a n t a Chicago S t . L o u i s Boston New York P h i l a . Cleve. S t . 5321c Minn. Kans.Cy. D a l l a s San F r a n . Total F.R.notes i n actual c i r c u l a t i o n 127,367 417,357 116,558 204,908 69,944 172,201 221,710 43,559 63,973 66,824 38,960 167,976 1,711,337 Deposits: 146,311 927,624 127,521 188,112 69,096 68,489 302,689 81,706 48,521 85,914 59,797 168,6s4 2,274,464 Member bank - r e s e r v e account 1,222 869 1,056 978 1,398 31,869 17,335 724 1,806 1,365 1,941 1,673 1 , 5 0 2 Government l6l 231 1 9 9 1 8 8 3 7 6 5,546 403 1,664 515 569 279 220 741 F o r e i g n "bank l4o 2 1 3 , 6 9 7 1 5,622 8,374 1 1 5 1 , 2 6 6 6 1 87 1 , 2 2 4 298 276 63 Other d e p o s i t s Total deposits 147,999 954,997 128,875 191,753 70,801 70,737 306,327 83,737 49,827 87,309 60,984 174,155 2,327,501 Deferred a v a i l a b i l i t y items 52,396 128,837 51,786 54,281 49,123 24,392 67,776 30,392 9,787 33,722 25,453 34,215 562,660 8,889 38,270 12,922 13,803 6,175 5,020 16,980 5,278 3,010 4,209 4,275 8,771 127,602 Capital paid in 17,606 6i,6i4 21,267 23,746 12,198 9,632 31,881 9,939 7,527 9,029 8,215 16,121 228,775 Surplus 988 564 492 523 12,709 515 3,014 383 1,273 735 507 2,780 935 All other l i a b i l i t i e s TOTAL LIABILITIES 354,772 1,604,089 331,791 489,764 208,976 282,989 647,454 173,840 135,112 201,657 138,379 4oi,76l 4,970,584 83.6 72.6 78.8 71.4 73.6 76.5 82.7 80.6 84.4 75.5 55-4 78.4 Reserve r a t i o ( p e r c e n t ) 75.0 Contingent l i a b i l i t y on b i l l s p u r 11,106 40,635 14,216 15,697 7,700 6,071 20,435 6,368 4,442 5,479 5,183 10,366 147,698 chased f o r f o r e i g n c o r r e s p o n d e n t s F . R . n o t e s on hand ( n o t e s r e c ' d f r o m 117,279 46,720 26,338 16,419 30,192 45,424 3,284 4,579 11,879 7,149 50,442 386,959 F.R.Agent l e s s n o t e s i n c i r c u l a t i o n ) 27,254 Y<? FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS // 244,121 826,716 188,578 282,526 111,077 262,573 429,234 70,023 86,394 105,03S 63,856 257,318 2,927,4§2^ F. R. n o t e s r e c ' d f r o m C o m p t r o l l e r 89,500 292,080 25,300 51,280 24,714 .60,180 162,100 23,180 17,842 26,333\ 17,747 38,900 829,1 " F . R. n o t e s h e l d by F. R. Agent 46,109 218,418 2,098,296] 154,621 534,636 163,278 231,246 86,363 202,393 267,134 46,843 68,552 78, F.R. n o t e s i s s u e d t o F.R. Bank C o l l a t e r a l h e l d as s e c u r i t y f o r i3' F.R. n o t e s i s s u e d t o F.R.Bank: 18,273 30,000 itol,6o4 7,750 13,507 35,300 235,104 8,780 36,468 16,422 Gold and g o l d c e r t i f i c a t e s 17,934 22,506 11,201 12,474 6,649 8,774 2,356 1,698 1,701 3,836 3,431 l4,4i4 106,974 Gold redemption f u n d 54,000 121,000 109,677 175,000 28,000 i4o,ooo 210,000 11,300 46,000 60,860 14,000 135,080 1,104,917 Gold f u n d - F. R. Board 77,460 171,147 52,125 53,595 27,738 40,252 104,660 37,424 12,020 19,201 12,295 63,020 670,937 E l i g i b l e paper Total c o l l a t e r a l 184,694 549,757 173,003 249,849 98,855 205,41# 317,016 58,172 73,228 83,897 47,999 242,514 2,284,432 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS Within 1 5 ' d a y s B i l l s discounted B i l l s bought i n open market C e r t i f i c a t e s of i n d e b t e d n e s s C. 364,820 115,041 5,206 l6 t o 30 days 31 t o 60 days 6l t o 90 days 22,153 53,777 - 36,630 53,125 - 21,380 13,242 74,644 months^ 7,966 2,224 94,695 Over 6 months 3,074 21,971 Total 456,023 237,409 196,516
@FedFRASER