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STATEMENT FOR THE PRESS Released, for p u b l i c a t i o n Friday morning, Apr. 20; not e a r l i e r . S t . 5755 Federal Reserve Board, April 19, 1928. COHDlTIOiT OF FEDERAL HE SERVE BAMS The consolidated statement of condition of the Federal reserve banks on April 18, made public by the Federal Reserve Board, shows decreases f o r the yeek of ^10,800,000 i n holdings of b i l l s bought i n open market, of $37,300,000 i n government s e c u r i t i e s , of $6,800,000 i n Federal reserve note c i r c u l a t i o n , of $40,000,000 i n member bank reserve deposits and of $23,100,000 i n cash r e s e r v e s , and an increase of $900,000 i n holdings of discounted "bills. Total "bills and s e c u r i t i e s were $47,200,000 below the amount held on April 11. The p r i n c i p a l changes i n holdings of discounted b i l l s during the week were decreases of $54,000,000 at the Federal Reserve Bank of Hew York, $7,1+00,000 at P h i l a d e l p h i a and :.?6,400,000 at Cleveland, and i n c r e a s e s of $15,600,000 each at Fr ^ ^ c i s c o , $10,900,000 at Boston, $2,900,000 at A t l a n t a and «b,^00,000 at Minneapolis. The System's holdings of b i l l s bought i n open market decreased *10,800,000, of Treasury notes $25,600,000, of c e r t i f i c a t e s of indebtedness $3,600,000, and of U. S. bonds $100,000. . f e d e r a l reserve note c i r c u l a t i o n decreased $6,£00,000 during the week the changes being decreases of $4,000,000 at Cleveland and $2,S00,000 at P h i l a d e l p h i a and i n c r e a s e s of approximately $2,000,000 each a t Chicago, Boston i n n TXT/Titxt v ^ 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 the reserve DanKs during the week and the year ending April IS, 1928, f o l l o w s : Increase or decrease Week Gold r e s e r v e s — Total b i l l s and s e c u r i t i e s ® 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 discounted B i l l s bought i n open market - + + + . . . . U. S. Government s e c u r i t i e s , . t o t a l Bonds Treasury notes . . . . C e r t i f i c a t e s of indebtedness . - Year $28,100,000 29,Uoo,ooo - + 315,900,000 205,200,000 144,800,000 So,4oo,ooo 10,800,000 + 103,400,000 + + 4- — - Federal r e s e r v e notes i n c i r c u l a t i o n . -- 6,800,000 - Total d e p o s i t s Members' reserve d e p o s i t s - - - $318,700,000 315,900,000 47,200,000 900,000 200,000 700,000 37,300,000 100,000 28,600,000 8,600,000 - daring 55,200,000 4o,ooo,ooo 12,900,000 + - + 4- + - 7,900,000 17,4OO,OOO 29,500,000 4,300,000 147,700,000 123,700,000 142,700,000 23,100,000 ; p l e a s e d f o r p u b l i c a t i o n Friday morning, April 20, I92S; not e a r l i e r , St. 5755a EE SOURCES AZD U T I L I T I E S 0? THE TWELVE FEDERAL RESERVE BANKS C0L3IHED ( I n thousands of d o l l a r s ) M RE S O U R C E S G°ld with Federal reserve agents (Sold redemption fund with U.S. Treasury J L M . 1,279,070 50,671 1,287,089 57.383 1,658,165 51,299 Sold h e l d e x c l u s i v e l y a g a i n s t F.R.notes Gold settlement fund with F. R. Board . . Gold and gold c e r t i f i c a t e s held by banks . 1,329,741 773 Q29 6l6668 1,344,472 750 575 653,^50 1,709,464 503 325 727^539 Total gold r e s e r v e s Reserves other than gold 2,719,438 165,087 2,748,797 1O3,864 3,035,328 167,852 Total r e s e r v e s non-reserve 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 discounted . . . . . . . . Total b i l l s discounted . . . B i l l s fought i n own market U. S. Government s e c u r i t i e s : 2,884,525 67,323 2,912,661 67,115 3,203,180 66,089 391,580 228,037 619,617 350,756 391,357 227,322 618,679 361,595 246,820 167,'623 4l4,443 247,396 . 123,'124 l6l[003 151!763 169,644 93^26 165,292 . 340,686 gg(J 378,016 990 332,829 1,500 1,312,049 570 755,687 1,359.280 570 660,197 996,168 659 725,306 5,088,984 5,069,594 5,062,722 1,582,014 1,588,769 1,729,751 2,392,347 6,303 5,661 18,955 2,423,266 697,397' 137,606 2,432,311 19,195 7,291 19,644 2,478,44-1 616,919 137,145 2,249,695 29,360 6,013 14,538 2,299,6o6 663,162 128,410 233,319 233,319 228,775 5,088,984 5.069,594 5,062,722 .Treasury notes C e r t i f i c a t e s of indebtedness Total U.S. Government s e c u r i t i e s Other s e c u r i t i e s Total 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 . . . ::::::::::: TOTAL RESOURCES . . . . . . . L I A B I L I T I E S F. R. notes i n a c t u a l c i r c u l a t i o n Deposits: .Member bank - reserve account Government Foreign t a n * Other deposits Total deposits Deferred a v a i l a b i l i t y items Capital paid i n . . . . All other l i a b i l i t i e s TOTAL LIABILITIES Ratio of t o t a l r e s e r v e s to deposit anri 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 C. • 15,382 15,001 13,018 , 72.0$ 71.6$ 79.5$ 262,645 242,373 146,069 a*,SOURCES M 0 LIABILITIES OF THE FEIEBAL HSSERW 3ASSS OH APRIL IS, 1928 St. 5755b J2SO'!i!CSS ( i n thousands of d o l l a r s ) Total Boston New York P h i l a . Cleve. Rich. Atlanta Chicago St.Louis Minn. Hans.Cy. Dallas San Fran. Gold tith Federal Reserve Agents 1,.279,070 75,472 278,477 99,103 l45,4lO 43,774 115,129 216,120 25,286 43,458 48,013 22,473 166,355 Gold redemption fund with U.S.Treas. 50,671 3,756 12,994 5,423 4,725 1,682 2,839 8,836 3,129 2,106 2,333 1,363 1,485 Gold held e x c l u s i v e l y against F. R. notes 1,329,741 Gold settlement fund with F.R.Board 773,029 Gold and gold c e r t i f . held by banks 616,668 Total gold reserves Reserves other than gold Total r e s e r v e s 79,228 41,621 24,216' 2,719,438 145,065 165,087 14,950 7,948 159,284 10,182 51,470 28,415 20,480 11,719 45,564 16,355 4,930 50,346 24,889 6,302 23,836 l67,84o 22,67s 32,322 995,352 175,997 264,101 70,982 136,09s 435,710 7,426 15,548 10,307 16,279 18,695 33,875 6o,6i4 14,212 67,349 3,838 81,537 7,400 55,503 231,130 9,998 12,059 81,789 152,377 454,405 74,826 71,187 88,937 65,501 243,1&9 291,471 104,526 150,135 315,437 388,444 45,756 25,715 67,360 46,606 2,884,525 160,015 1,029,227 183,423 279,649 45,456 117,968 224,956 18,399 7,127 8,989 30,968 67,323 4,896 20,874 2,411 5,478 8,779 4,332 6,591 4,073 1,271 2,097 2,714 3,807 391,580 228,037 29,944 36,700 30,586 9,430 23,929 13,722 28,995 49,234 25,064 21,725 26,452 107,736 45,293 19,712 11,570 2,520 14,311 9,058 4,507 4,198 62,115 4,66o Total b i l l s discounted 619,617 74,298 41,437 14,090 23,369 8,705 29,678 33,359 13,337 42,717 350,756 153 , 029 48,191 32,328 30,110 57,251 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 notes C e r t i f i c a t e s of indebtedness 56,396 67,384 15,592 39,937 4,497 15,191 13,375 14,578 66,775 24,749 Total U.S. Govt. s e c u r i t i e s Other s e c u r i t i e s Uon-reserve cash B i l l s discounted: Secured by U.S.Govt, obligations S Other b i l l s discounted Total 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 premises Ail other resources TOTAL RESOURCES c. 11,491 26,665 585 11,645 17,362 1,153 1,574 11,690 22,026 7,125 12,499 7,183 4,519 3,766 32 3,913 3,904 21,007 9,713 10,890 1,334 18,837 47,305 505 30,069 161,003 707 4,549 340,686 990 l6,i46 67,526 29,592 42,978 6,493 7,849 52,746 26,807 15,309 990 26,601 72,741 45,580 21 13 14,219 33,292 2,202 3,892 63,345 18 38,913 4,303 491 56,559 123,124 — 1,312,049 139,926 570 755,687 59,378 9,452 37 75,165 3,824 66 12,4O4 — 302,883 107,893 129,907 217 47 51 211,457 63,06s 71,378 6,865 16,548 1,756 1,178 1,831 138 — — - 53,189 66,158 166,981 68 21 25 56,175 30,382 90,459 8,720 2,829 3,244 869 1,384 388 - 626 5,342 . 4,902 5,448 10,009 862 - 7,815 37 5,372 14,709 3,581. 12,125 21,76s - 26,871 - 45,051 118,395 17 35 26,75s 43,921 1,813 3,377 486 1,133 5,088,984 383,929 1,583,037 358,736 495,006 203,589 257,483 728,093 139,471 135,334 198,109 142,340 413,857 ' L I A B I L I T I E S RESOURCES MD LIABILITIES OF THE FEDERAL ESSBHVE B.SIS OH APRIL IS, 1923 (In thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis F.R.notes i n actual c i r c u l a t i o n 1,582,014 Depo s i t s : Homusr "bank - reserve .account 2,392,347 Government 6,303 Foreign "bank 5,661 18,955 Other deposits Total deposits 2,423,266 Deferred a v a i l a b i l i t y items 697,397 Capital paid in 137,606 Surplus 233,319 All other l i a b i l i t i e s 15,382 TOTAL LIABILITIES 5,083,934 Reserve r a t i o (per cent) 72.0 CoAt.ingont l i a b i l i t y on b i l l s pur262,645 chased f o r foreign correspondents F.R. i-'-tcs on hand (notes r e e ' d from R,.Agent l e s s notes i n circulation)375«044 ? St. DDC Minn. ICans.Cy. Balls San Fran. 123,652 338,067 124,496 191,770 57,755 142,709 248,381 52,629 56,344 56,834 33,980 155,397 156,197 540 487 116 946,080 139,822 192,547 69,375 69,967 341,439 82,948 287 764 326 463 676 331 273 903 279 1.044 70 210 1.039 267 195,246 70,063 71,214 343,707 83,957 68,018 56,262 27,807 82,221 36,228 14,260 6,251 5,177 19,135 5,322 24,021 12,324 9,996 32,778 10,397 1,691 580 2,871 934 938 495,006 203,589 257,483 728,093 189,471 54,706 91,320 66,239 181,707 4i6 S3 758 3 175 234 227 46i 236 575 35 5.790 55,533 92,212 67,259 187,961 12,465 35,189 27,835 42,540 157,340 74,070' 9,879 1,311 373 998 617 177,770 56,992 63,007 3,890 21,662 84o 9,369 204 957,75s l4i,oi6 42,545 13,730 17,893 1,095 333,929 1,583,037 358,736 56.9 79.4 69.1 72.3 64.0 71.2 76.7 54.8 3,027 119,924 29,607 25,253 19,583 29,789 44,019 7,039 4,241 9,o46 4,313 8,527 10,726 16,629 7,100 9,^67 9,204 18,671 5,901 7,805 6,912 52,842 92b 587 426 6o4 135,334 198,109 l 4 2 , 3 k ) 4i3,S57 64.7 70.8 63.6 59.7 73,832 24,982 27,349 13,411 11,045 36,553 11,308 19,723 23,557 979 9,852 FEDERAL RESERVE MOTE ACCSblHTS OF FEDERAL RESERVE AGEHTS F,R,notes r e e ' d from Comptroller F , 5 , r o t e s held "by F. R„ Agent F.R.notes issued to F.R.Bank Co'J l a t a r a l held as security f o r F.R notes issued to F.R.Bank: Gold and gold c e r t i f i c a t e s Gold redemption fund Gold fund - F.R. Board E l i g i b l e paper Total c o l l a t e r a l 2,802,933 228,159 345,875 80,950 1,957,058 147,209 413,841 35,300 99,360 12,172 765,869 28,000 917,412 1 23,730 2,196,482 199,252 742,711 175,203 256,103 103,462 234,498 435,800 Si,391 Si,o44 101,449 63,274 299,839 284,720 21,100 39,030 26,124 62,000 143,400 18,910 IS.799 36.810 22.382 91.600 457,991 154,103 217,023 77,338 172,498 292,400 62,431 62,245 64,639 4o,S92 208,239 42,600 31,021 20,000 205,150 - 8,300 14,167 2,486 1,291 18,327 11,126 12,810 8,253 5,329 1,120 4,153 55,000 87,977 90,000 4,500 89,800 215,000 14,500 28,000 43,860 205,321 63.083 86.021 42,296 57.885 114.111 44.797 -21JZ5- 36.508 483,798 162,186 231,431 86,070 1 7 3 , 0 l 4 330,231 70,033 72,633 34,521 17,303 4o,ooo 2,170 20,123 3,000 106,232 23,116 91.319 45,589 257,674 MATURITY DISTRIBUTIOH OF BILLS AHD CERTIFICATES OF IHDEBTEDHESS B i l l s discounted B i l l s bought in open market C e r t i f i c a t e s of indebtedness C. Total Within 15 days 619,617 350,756 504,323 128,163 5,790 l 6 l ,003 l6 to 30 days 27,325 60,536- 31 to 60 days 6l to 90 days 47,999 28,703 86,713 68,287 23,028 6 months 9,140 7,057 Over 6 months 2,122 132,185
@FedFRASER