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Release I f o r -Tub l i e a t i on F r i d a y morning, Apr. 27; not e a r l i e r . STAi.3'£ENT FOR THE PRESS s t . 5761 F e d e r a l Reserve Board, A p r i l 26, 1928. CONDITION OF CEREAL KHSnRVJT 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 banks on A p r i l 25, made p u b l i c by the F e d e r a l Reserve Board, siiows i n c r e a s e s f o r the week of^$89,500,000 i n h o l d i n g s of d i s c o u n t e d b i l l s , of $15,100,000 i n b i l l s bought i n open m a r k e t , / 6 1 025,000,000 i n member bank r e s e r v e d e p o s i t s , and d e c r e a s e s of £55,900,000 i n h o l d i n g s of Government s e c u r i t i e s .and of $,*400,000 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 . T o t a l b i l l s and s e c u r i t i e s were ^bS,oOO,000 above t h e amount h e l d on A p r i l I S . ' I h e p r i n c i p a l changes i n h o l d i n g s of d i s c o u n t e d b i l l s during the week '?ere i n c r e a s e s , of 'poQ,bOO,000 a t the Federal Reserve Bank of New York, >•>23,200,000 a t Chicago, and $5>000,000 a t A t l a n t a , and d e c r e a s e s of $15,100,000 a t Boston, $6,800,000 a t St. Louis and about $4,000,000 each a t E h i l a d e l p n i a and Kansas C i t y . The System's h o l d i n g s of b i l l s bought i n open market i n c r e a s e d $15,100,000, while h o l d i n g s of United S t a t e s bonds d e c r e a s e d $1,300,000, of Treasury n o t e s $15,bOC,000, and of 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 $19,000,000. Federal' r e s e r v e n o t e c i r c u l a t i o n d e c r e a s e d $9,400,000 during the week, smaller c i r c u l a t i o n f i g u r e s b e i n g r e p o r t e d by a l l F e d e r a l r e s e r v e banks except Cleveland. 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 r e serve banks during t h e week and the year ending A p r i l 25, 1928, f o l l o w s : Increase or decrease during Year Total reserves Gold r e s e r v e s + $1,300,000 + 3,<500,000 - 3i7.Soo.ooo T o t a l 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 + + + + 68,$00,000 ss,500,000 71,200,000 18,300,000 + + + + 375,100,000 265,500,000 205,200,000 59,300,000 B i l l s bought i n open market . . - $321,500,000 + 15,100,000 + 123,900,000 - 35>°oo,ooo - 1,300,000 - 13,600,000 15,400,000 - 19,000,000 - 16,400,000 Federal reserve notes in c i r c u l a t i o n - - 145,600,000 Total deposits . '"embers' r e s e r v e d e p o s i t s . . Government d e p o s i t s + 5i,4oo,ooo + 25,000,000 + 27,300,000 U.S. Government s e c u r i t i e s , t o t a l Bonas . . . . . . . . . . . . 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 . - 15,600,000 9,^00,000 + 18,200,000 + 160,800,000 + 147,900,000 + 9,400,000 Released, f o r p u b l i c a t i o n F r i d a y morning, A p r i l 27, 1928; not e a r l i e r . S t . 5761a SOURCES AID LIABILITIES OF THB TIBLW, F^IBRAL BESHEVB BA3TKS COMBINED ( i n t h o u s a n d s of d o l l a r s ) Apr. 25.1928 R E S O U R C E S Gold with F e d e r a l r e s e r v e a g e n t s . . . . Gold redemption f u n d w i t h U . S . T r e a s u r y . Apr. 18.1928 Apr. 27.1927 1,207,703 59,090 1,279,070 50,571 1,628,235 4O,6L8 1,260,793 1,329,741 1,668,853 835,001 773,029 616/068 638,802 621,479 . . 2,723,273 2,719,438 3,040,857 R e s e r v e s o t h e r t h a n gold . . 162,551 165,087 166,501 2,885,824 2,884,525 3,207,358 65,499 67,323 65,769 462,771 246,302 391,580 228,037 256,588 186,965 709,073 619,617 443,553 365,841 350,756 241,899 56,559 70,673 89,311 158,341 Gold h e l d e x c l u s i v e l y a g a i n s t F . R . n o t e s Gold s e t t l e m e n t f u n d vzith F. R. Board Gold and g o l d c e r t i f i c a t e s h e l d "by bank Total gold reserves Total reserves . . ^on-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 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 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 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 T o t a l b i l l s and s e c u r i t i e s Due f r o m f o r e i g n banks Uncollected items Bank p r e m i s e s All other resources . TOTAL RESOURCES 55 , 237 107,560 141,958 123,124 161,003 733,202 304,755 34O,6S6 990 990 318,325 1,800 1,380,659 1,312,049 1,005,577 570 633,613 59,409 9,677 570 755,687 59,378 9,452 653,714 58,588 12,998 5,035,251 5,088,984 5,004,664 1,572,612 1,582,014 1,718,257 2,417,377 33,587 5,377 18,278 2,392,347 2,269,513 6,303 5,661 18,955 4,913 15,296 2,474,619 2,423,266 2,313,860 600,791 137,613 233,319 16,297 697:397 601,649 128,806 233,319 15,382 228,775 5,035,251 5,088,984 5,004,664 660 L I A B I L I T I E S F. R. n o t e s i n a c t u a l c i r c u l a t i o n Deposits: Member bank - r e s e r v e account Government F o r e i g n bank < Other d e p o s i t s Total deposits Deferred a v a i l a b i l i t y items Capital paid in Surplus All other l i a b i l i t i e s . . . TOTAL LIABILITIES 137,606 24,138 13,317 R a t i o 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. n o t e l i a b i l i t i e s combined . . . 71.356 7 2 . OF, 79-5$ C o n t i n g e n t l i a b i l i t y on b i l l s p u r c h a s e d f o r foreign correspondents . . . . . . 261,543 262,645 146,943 Digitized C. for FRASER RESOURCES AH) LIABILITIES OF THE FEDERAL RESERVE BAMS ON APRIL 25 ( I n t h o u s a n d s of d o l l a r s ) R E S O U R C E S Total Gold v/ith F e d e r a l R e s e r ve Agents 1 , 2 0 7 , 7 0 3 GoM r e d e m p t i o n f u n d w i t h U . S . T r e a s . 59,090 Gold 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 1,266,793 Boston 73,822 4,676 78,498 Hew York 228,393 16,294 P h i l a . Cleve. 96,307 145,631 7,2ol 4,645 244,687 103,568 150,276 44,579111,677223,731 Gold s e t t l e m e n t fund, w i t h F . R . B o a r a 8 3 5 . 0 0 1 72,217 314,345 53,009 74,888 15,833 26,809 387,244 24,645 44,117 10,595 Total reserves ^on-reserve cash 35,464 23,283 37,447 4,929 6,652 9,062 30,767 2 , 8 8 5 , 8 2 4 192,696 9 7 9 , 2 4 2 188,713 282,809 82,245 145,565 454,132 83,700 68,294 96,497 6 5 , 4 l 7 246,514 2,398 3,243 4,442 discounted 709,073 B i l l s bought i n open market 365,s4i ®onds 17,476 12,125 55,598 234,440 9 , 8 1 9 12.074 26,422 <).. S. Government s e c u r i t i e s : 25,705 54,132 89,134 7,363 14,895 Total b i l l s 23,253 166,226 64,744 3,550 246,302 obligations 47,018 68,771 14,929 462,771 S e c u r e d "by U . S . G o v t , 42,339 71.007 129,913 435,363 11,238 15,652 18.769 19,762 other b i l l s discounted 7,334 157,500 10.402 30,941 946,276 181,222 269,281 32,966 7 , 4 9 1 13,528 65,499 discounted: R7fvih 2 , 7 2 3 , 2 7 3 177,524 162,551 1 5 , 1 7 2 5,663 .Bills St R i c h . A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. D a l l a s San F r a n . 42,713 1 0 8 , 4 l 6 216,010 27,334 39,749 44,259 21,805 l 6 3 264 1,866 3,26l 7,721 3,607 2,590 2,759 1,448 2^62 uoxd and g o l d c e r t i f . h e l d "by Banks 621,473 Total sold reserves Reserves other than gold 1928 55,237 2,252 4,355 5,465 173,310 31,334 35,679 69,307 12,877 20,570 4iji7 242,617 44,211 50,926 95,264 32,885 1,373 11,948 16,943 69,569 17,635 11,108 9,335 3,492 55,996 24,46o 30,787 27,975 17,021 2,759 10,113 5,979 9,559 56,249 36,408 47,730 97,544 34,656 13,867 19,448 9,471 65,555 33,115 15,836 18,880 4i,345 3,667 18,490 '14,797 14,427 26,209 3,352 9,779 l4,742 38.,459 10,529 16,325 28,777 11,204 l,l6o 3,381 3,550 3.518 39 19,927 7,239 20,004 11,710 6,450 4,743 4,893 4,519 11,390 3,850 9,033 4,532 8,025 13,376 10,887 Total U.S.G^vt. s e c u r i t i e s Other s e c u r i t i e s , 304,755 990 13,838 - 54,£35 - 27,439 - 40,486 5,694 7,107 - 47,170 25,285 14,155 990 24,273 • 20,372 •• . 24,301 3 9 2 , 5 1 6 104,535 129,850 73,717 1 8 6 , 0 5 9 21 68 63,60S 47,502 44,270 116,065 Uncollected items Bank p r e m i s e s A l l Other r e s o u r c e s TOTAL RESOURCES 585 4,390 107,50O l4l,958 1 , 3 8 0 , 6 5 9 106,081 570 37 1,434 7,688 x'reasury 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 b i l l s and s e c u r i t i e s Due f r o m f o r e i g n b a n k s 707 4,468 505 1,153 7,125 7,815 38 217 47 51 57,938 25 21 13 58,518 18 17 35 633.613 62,692 173,644 51,204 59,188 48,302 23,207 76,631 28,776 11,828 33,894 26,351 37,296 59,409 9.677 3,824 65 l6,548 1,896 1,756 136 6,865 1,199 3,272 433 2,829 1,373 8,720 847 3,891 633 2,202 1,033 4,308 54I 1,817 427 3,377 1,094 5 , 0 3 5 , 2 5 1 371,058 1 , 5 8 3 , 8 2 5 348,643 484,317 197,680 251,780 734,145 185,019 132,245 196,174 1 4 1 , 5 4 2 408,823 HESOOaCES.'MD LIABILITIES OF THE FEDERAL RESERVE BANKS OH APRIL 25, 1922 ( i n thousands of d o l l a r s ) T o t a l Boston Hew York F n i l a , Cleve. R i c h . A t l a n t a Chicago S t . L o u i s Minn. F.R.notes in actual circulation 1 , 5 7 2 , 6 1 2 122,129 335,633 123,590 194,020 56,560 l4i,506 2^,054 52,064 56,247 Deposits: Member bank - r e s e r v e account 2,417,377 155,072 971,935 137,338 133:,«93 63,039 68,367 356,343 33,387 52,275 Government 33,587 2,537 3,970 2,735 2,213 4,696 4,413 3,171 1,449 1 , 4 3 7 F o r e i g n bank 5,377 437 714 617 676 331 273 903 279 175 Other d e p o s i t s IS,27s 273 3,331 104 995 73 243 1,014 310 273 Total deposits 2,474,619 153,374 935,500 l 4 i j 4 4 192,782 73,139 73,301 361,431 85,425 54,l6o Deferred a v a i l a b i l i t y items 600,791 61,707 152,381 47,407 57,436 48,431 20,643 70,771 30,860 10,797 Capital paid in 137,613 9,373 42,545 13,730 l4,26o 6 , 2 5 1 5,176 18,138 5,323 3,027 Surplus 63,007 21,662 24,021 12,324 233,319 17,393 9,996 32,773 10,397 7,039 All other l i a b i l i t i e s 1,077 16,297 4,209 910 1,793 653 2,973 975 950 975 TOTAL LIABILITIES 5 , 0 3 5 , 2 5 1 371,05s 1,533,325 3^,643 ^4,317 197,680 251,730 734,145 185,019 132,245 Reserve r a t i o ( p e r c e n t ) 71*3 68.7 74.1 71.2 63.4 73.1 67.6 74.5 60.9 61.9 Contingent l i a b i l i t y on b i l l s p u r 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 261,543 19,723 72,730 24,982 27,349 13,4ll 11,045 36,553 11,303 7,100 F . R , n o t e s on hand ( n o t e s r e c ' d from 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 ) 3 7 6 , 8 3 5 25,030 115,942 31,117 24,624 19,797 29,889 45,002 11,665 5,529 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F . R , n o t e s r e c * d from C o m p t r o l l e r 2,795,282 226,509 736,345 174,407 256,324 102,401 233,885 431,936 81,799 80,335 F * R . n o t e s h e l d by F. R» Agent 845,335 79,350 234,720 19,700 37,680 26,044"62,490 138,930 18,070 I S , 5 5 9 F . R . n o t e s i s s u e d t o F.R«Bank 1,949,447 147,159 451,625 154,707 218,644 76,357 171,395 293,056 63,729 61,776 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 F . R . n o t e s i s s u e d t o F»R.Bank: Gold and gold c e r t i f i c a t e s 415,242 35,300 205,150 44,000 31,021 20,001 8,300 14,i67 Gold redemption f u n d 91,083 10,522 IS,243 8,330 11,631 7,192 4,315 1,010 1,534 2,532 Gold f u n d - F-» R, Board 701,37s 28,000 5,000 37,977 90,000 4,500 34,100 215,000 17,500 23,000 E l i g i b l e paper 1,024,456 92,243 304,713 63,700 86,478 48,776 66,197 138,765 37,08S 32,235 Total c o l l a t e r a l 2,232,159 166,065 533,106 165,007 232,109 91,439 174,613 354,775 64,422 71,934 S t . 5761c L I A B I L I T I E S - Kans.Cy. D a l l a s San Fran. 56,395 32,837 153,477 91,341 63,311180,026 1,612 234 534 2,628 227 26 2,721 1461 5,542 93,721 66,192 188,750 32,146 29,155 33,557 4,236 4,323 10,726 9,046 3,527 16,629 630 458 68 4 196,174 i4I,542 W.823 64.3 66.0 72.0 9,1467 9,204 7,591 7,333 53,311 100,696 62,607 307,988 18,671 36,710 22,382 101,200 63,936 40,225 206,783' 17,303 40,000 3,399 2,502 19,823 4o,s6o a,000 i o 3 , 4 4 i 33,94s 23,743 91,570 78,207 45,548 254,334 MATURITY DISTRIBUTION 6f BILLS AMD CERTIFICATES OF IITIHBTEIEESS 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 Total Within 15 days 709,073 365,841 141,958 120,797 585,962 4,100 l 6 t o 30 days 26,741 68,806 31 t o 60 days 6l t o QO days 50,317 31,399 32,147 33,644 15,242 91 days t o 6 months 11,857 10,447 Over 6 months 2,297 122,616
@FedFRASER