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Released f o r p u b l i c a t i o n Friday morning, Apr. 6; • STAI&IENT FOR THE PRESS not earlier. St. 5739 Federal Reserve Board, April 5, 1928. " CONDITION! OF FEDERAL RESERVE BANKS The c o n s o l i d a t e d statement of c o n d i t i o n of the Federal r e s e r v e t a n k s on April 4, made p u b l i c by the Federal Reserve Board, shows i n c r e a s e s f o r the week of $77,toO,000 i n h o l d i n g s of discounted "bills, $43,700,000 i n member ba@k r e serve d e p o s i t s , and $34,000,000 i n Federal r e s e r v e note c i r c u l a t i o n , and dec r e a s e s of $2,500,000 i n h o l d i n g s of M i l e bought i n open market, of $2,600,000 i n Government s e c u r i t i e s , and $22,500,000 i n cash Feserves. Total b i l l s and s e c u r i t i e s trere $72,300,000 above the amount h e l d on March 28. Holdings of discounted b i l l s i n c r e a s e d at a l l Federal r e s e r v e banks except Boston and Cleveland, the p r i n c i p a l changes being i n c r e a s e s of $52,800,000 a t New York, $15,200,000 a t Chicago, and $8,500,000 a t San F r a n c i s c o , and a dec r e a s e of $19,000,000 a t Boston. The System's h o l d i n g s of b i l l s bought i n open market decreased $2,500,000 and of c e r t i f i c a t e s of indebtedness $3,500,000, y h i l e h o l d i n g s of United S t a t e s bonds were $500,000 and of Treasury n o t e s $300,000 above the p r e v i o u s week's t o t a l s . f Federal r e s e r v e note c i r c u l a t i o n i n c r e a s e d $$4,000,000 during the vreek, the p r i n c i p a l i n c r e a s e s b e i n g : New York $8,800,000, Chicago $7,100,000, San F r a n c i s c o $5,300,000, P h i l a d e l p h i a $4,700,000, and Boston $4,400,000. The Federal Reserve Bank of Cleveland r e p o r t e d a decrease of $2,400,000, and the s i x o t h e r Federal r e s e r v e banks an aggregate i n c r e a s e of $5,900,000 i n Federal r e s e r v e note c i r c u l a t i o n . 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 s e r v e banks during t h e week and the year ending April 4, 1928, f o l l o w s : Increase or decrease Week Total r e s e r v e s 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 . 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 discounted . B i l l s bought i n open market Government d e p o s i t s C. Year $275,500,000 - 279,400,000 4* 28,600,000 48,800,000 + + + + 343,700,000 199,500^000 137,300,000 62,200,000 2,500,000 + io4,4oo,ooo - + + 72,300,000 77,4OO,OOO + - Bonds + Treasury n o t e s . . . . . . . . . + C e r t i f i c a t e s of indebtedness . . 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 $22,500,000 16,4oo,ooo during 2,600,000 500,000 300,000 3,500,000 + 34,000,000 + + 30,800,000 43,700,000 14,800,000 - + - + - 41,300,000 18,600,000 78,600,000 18,600,000 126,400,000* + + 169,500,000 168,900,000 3,500,000 Released f o r p u b l i c a t i o n Friday morning, April 6, 1$2S; not e a r l i e r . St. 5739a RESOURCES ML LIABILITIES OF THE TIELV3 FEDERAL HES^FiVB B AMS COLSIIIED ( I n thousands of d o l l a r s ) Apr. 4.1928 Mar. 28.1928 Apr. 6.1927 Gold with Federal reserve agents . . . . Gold redemption fund with U.S. Treasury Gold held 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. E. 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 . . . . . . . Reserves other than gold . . . . . . . 1,247,059 58,841 1,305,900 794,067 643,562 2,743,529 164,442 1,331,263 50,652 1,381,915 714,989 663,059 2,759,963 170,544 1,630,855 45,304 1,676,159 6l'3,27S 733,509 3,022,945 160,490 Total r e s e r v e s . . . . . . . Eon-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 . 2,907,971 61,504 2,930,507 3,183,436 67,786 59,972 350,602 250,874 601,476 343,636 322,034 202,062 213,306 188,642 524,096 346,103 401,948 239,221 56,233 163,947 163,052 55,711 163,612 166,509 74,870 85.377 181,688 383,232 990 1,329,334 385,832 990 1,257,021 341,935 2,500 570 674,074 59,274 10,131 570 595,975 59,266 9,826 659 643,961 58,558 12,982 5,042,858 4,920,951 4,945,172 RESOURCES 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 notes C e r t i f i c a t e s of indebtedness . . . . . . . i . . . . . . . . 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• Bank premises i . . . . All other resources . . t . . . . TOTAL RESOURCES 985,6o4 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 bank . . . . . . . . . . Other d e p o s i t s . . Total d e p o s i t s . . < . . Deferred a v a i l a b i l i t y items . . . Capital paid i n . . . Surplus . . » • » . . . . . . . . All other l i a b i l i t i e s 1,601,010 1,567,052 1,727,429 2,400,808 9,980 5,310 18,889 2,434,987 623,648 135,731 233,319 14,163 2,357,143 24,757 5,007 17,308 2,404,215 566,358 136,150 233,319 13,857 2,231,951 13,527 4,925 15,064 2,265,467 582,633 128,212 228,775 12,656 TOTAL LIABILITIES . . . 5,042,858 4,920,951 4,945,172 fiatio of t o t a l r e s e r v e s to deposit and F. R. note l i a b i l i t i e s combined . . . 72.1$% 73.8% 79.7$ 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 . 242,084 243,009 147,819 C. RESOURCES RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BANKS Oil APRIL 4, 1925 ( i n thousands of d o l l a r s ) Total Gvld with F e d e r a l Reserve Agents 1,247,059 Gold redemption f u n d with U . S . T r e a s . 58,84l 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 xiith F.R.Board Gold and gold c e r t i f . h e l d "by "banks Boston 79.127 6,342 1,305.900 85,469 79%>06? 643, 562 68,838 24,502 T o t a l gold r e s e r v e s R e s e r v e s o t h e r than gold 2,743,529 178,809 Total reserves 2,907.971 194.531 61,504 4,972 I o n - r e s e r v e cash B i l l s discounted: Secured by U.S.Govt, o b l i g a t i o n s Other h i l l s d i s c o u n t e d • Total "bills discounted B i l l s "bought i n open market T J». 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 i n d e b t e d n e s s T o t a 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 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 B<mk premises All other resources TOTAL RESOURCES 164,442 15,722 350,602 17,474 22,079 601,476 39,553 343,636 46,i4i Rich. 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 Fran. 228,646 104,767 143,544 45,880 129,317 186,384 32,639 51.379 49,634 28,598 166,644 2,517 4,232 1,764 1,520 1,176 15,624 10,874 5,134 1,485 2,174 5,999 Mew York Fnila. CIeve. 244,270 115,641 148,678 47.365 131,991 192,383 288,469 45,906 64,280 23,288 11,356 167,885 9,682 9.701 52,312 413,995 26,128 45,331 946,734 187,675 258,289 80,335 153,048 412,580 33,723 7,823 14,621 10.523 14,883 19.899 36,871 53,143 51,154 29,774 169,161 23,733 15,634 29,338 20,635 34,705 6,448 8,831 29.866 11,525 5 , 2 4 l 72,129 74,018 86,940 59,240 233,732 980.457 195,498 272,910 90,858 167,931 432,479 19.465 2,333 5,224 5,085 4,289 6,923 85,846 3,923 128,394 78,465 206,859 102,660 31,818 13,498 45,316 25,153 28,129 6,80 5,951 23,104 22,413 21,95 50,542 28,763 29,055 32,494 14,369 15.829 56,233 707 163,947 7.946 163,052 11,822 1,514 . 585 505 i4,8i4 27,629 33,738 41.239 18,231 13,409 1,153 2,748 4,089 383,232 20,475 70,382 33,630 47,652 7,990 990 s t . 5739b 13,717 3,471 7,603 10,248 77.489 94,543 69,488 245,941 2,767 3,629 1,016 1,878 55,160 10,450 5,010 n,4so 1,46 0 48,467 8,947 1,332 6,043 3,483 33,958 15,598 89.118 26,048 6,342 17,523 4,943 57,4l4 42,725 4,472 14,062 12,992 12,4o4 20,335 44 20,327 7,125 4,519 7,o4i 4,945 16,209 l4,74o 3,713 24,191 » 7.797 5.914 8,702 60,727 29,662 17,474 990 53,586 192,570 60,182 33.868 68 21 13 21 25,244 87,231 30,157 11,634 2,202 2,829 8,720 3,891 717 l , l 4 8 1,421 1,269 - 11,890 7,887 10,828 7.309 .55 7.759 18,491 8,656 13,163 30,605 24,224 31,709 - - - 61,120 41,571 109,458 1,329,334 106,169 379.901 104,099 130,688 51,122 IS 17 35 25 217 51 47 37 570 23,382 38,201 35,725 674,074 68,363 183,030 60,750 59,790 50,567 4,308 1,806 3,377 16,548 -1,756 6,865 3,148 59,274 3,824 566 1.105 548 122 1,143 387 1,635 10,131 70 5,042,858 377,966 1,581,253 364,605 476,671 201,192 255,321 729,260 184,737 132,370 200,616 139,597 399.270 C. 12,209 ^4 EESMBK3CS- AHB L I A B I L I T I E S OF THE FEDERAL RESERVE BASKS ON APRIL 4 , 1 9 2 8 St. 5739c ( I n thousands of d o l l a r s ) . T o t a l Boston New York Phi l a . Cleve. Rich, A t l a n t a Chicago St. Louis Minn. Kans.Cy. D a l l a s San Fran. F.R.notes i n actual circulation 1,601,010 123,59s 350,748 130,770 189.695 60,271 144,681 245,288 52,408 57,331 57,538 34,905 153,777 Deposits: Member t a n k - r e s e r v e account 2,1100,808 158,361 955.880 l4o,601 186,819 71,298 69,746 346,328 82,832 52,962 92,435 66,904 176,642 Government 9.980 704 2,581 761 627 308 733 980 1,051 615 867 574 Foreign bank 5.310 360 1,863 456 499 245 202 667 206 130 173 1 68 341 Other d e p o s i t s 18,889 87 8,790 52 1,284 99 256 1,314 332 249 900 30 5,496 Total deposits 2,434,987 159,512 969,114 141,870 189,229 71.950 70,937 349.289 84,421 53,956 94,375 67,676 182,658 Deferred a v a i l a b i l i t y items , 3 ' S ? 6£,5«? l p , 3 8 9 55.861 57,831 49,487 24,009 80,974 31,346 10,117 34,844 23,771 36,457 Capital paid i n 135,731 9,586 42,468 13,703 14,278 6,251 5,174 18,134 5,301 3.028 4,242 4,311 9,f55 Surplus 233.319 17,893 63,007 21,662 24,021 12,324 9,996 32,778 10,397 7,039 9,o46 8,527 16,629 111 o t h e r l i a b i l i t i e s l^»l63 815 3.527 739 1,617 909 524 2,797 864 899 571 4)4 407 TOTAL LIABILITIES 5,042,858 377,966 1,581,253 364,605 476,671 201,192 255.321 729.260 184,737 132,370 200,616 139,597 399,270 Reserve r a t i o ( p e r c e n t ) 72.1 6S.7 74.3 71.7 72.0 68.7 77.9 72.7 62.7 69.6 62.2 67.7 73.1 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 242,084 18,122 68,595 22,955 25,129 12,323 10,148 33.586 10,390 6,524 8,699 8,457 17,156 F . R . n o t e s on hand ( n o t e s r e c ' d from ".S.Agent l e s s n o t e s i n c i r c u l a t i o n ) 3 5 8 , 0 4 2 21,506 107,513 24,997 29,162 19.173 28,666 44,792 8,126 4,520 6,823 7 , H 3 55,651 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F.R. n o t e s r e c ' d from Comptroller 2,812,162 225,4l4 743,621 174,867 259,837 105,568 235.187 440,580 78,444 79,045 103,071 64,400 302,128 F.R. n o t e s h e l d by F. R. Agent 853,110 80,310 285,360 19,100 40,980 26,124 61,840 150,500 17,910 17,194 38,710 L I A B I L I T I E S 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 held as security f o r F . R . n o t e s i s s u e d t o F.R.Bank: Bold and g o l d c e r t i f i c a t e s S o l i redemption f u n d Gold f u n d - F . R. Board E l i g i b l e paper Total c o l l a t e r a l 22,382 92,700 1 . 9 5 9 , 0 5 2 145,104 4i4,i4o 35.300 100,639 732,280 910,945 15,827 28,000 85.694 2,158,004 164,821 458,261 155,767 218,857 . 7 9 , 4 4 4 173,347 290,080 60,534 205,150 42,600 31,020 20,000 8,600 18,496 11,790 10,944 5,360 7,517 1,384 539 5.000 92,977 90,000 9,500 102,300 185,000 23,500 292,500 59,314 80,900 41,941 44,386 131.714 29,364 521,146 164,081 224,444 87,821 174,203 318,098 62,003 61,851 64,361 14,167 2,212 35.000 3.774 45,860 20,313 30,230 71,692 79,864 42,018 209,428 17,303 to,000 2,295 20,501 9,000 106,143 17,065 77,524 45,663 244,168 MATURITY DISTRIBUTION OF BILLS AITD CERTIFICATES OF INDEBTEDNESS 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 601,476 343,636 163,052 507,860 150,047 9k) l 6 t o 30 days 23,851 75,649 31 to 60 days 36,347 57,775 6 l to 90 days 23.957 54,808 2 9.1 days to 6 months 6,957 5,357 Over 6 months 2,504 162,110
@FedFRASER