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mjmssm m the . m i s Beleaeed f o r publication Friday morning, Aug. 10; not e a r l i e r . St. 586% Federal Reserve Board, August 9« 1928. CONDITION OF FEDERAL HE SERVE BANKS Tho consolidated statement of condition of the Federal reserve "banks on August 8, made public by the Federal Reserve Board, shows decreases for the week of $24,500,000 i n holdings of discounted M i l s , of $4,000,000 i n b i l l s bought i n open market, of $3,800,000 i n Government s e c u r i t i e s , and of $77,900,000 in member bank reserve deposits, and an increase of $14,900,000 i n Federal reserve note c i r culation, and a nominal decline i n cash reserves. Total b i l l s and s e c u r i t i e s were $32,300,000 below the amount held on August 1. The principal changes in holdings of discounted b i l l s were decreases of $21,300,000 at tho Federal Reserve Bank of Chicago and $10,500,000 at New York, and increases of $6,800,000 at San Francisco, $4,000,000 at Dallas, and $3,800,000 at Atlanta. The System's holdings of b i l l s bought i n open market declined $4,000,000 and of c e r t i f i c a t e s of indebtedness $3,900,000, whilo holdings of U. S. bonds and Treasury notes remained p r a c t i c a l l y unchanged. Federal reserve note c i r c u l a t i o n shows an increase of $4,800,000 at the Federal Reserve Bank of Cleveland, $2,000,000 each at Kansas City and Philadelphia, $1,500,000 at San Francisco, and $14,900,000 at a l l Federal reserve banks. A summary of changes in the principal assets and l i a b i l i t i e s of the reserve banks during the week and the year ending August 8, 1928, follows: Increase or decrease Year Week Total reserves Gold reserves $100,000 + 5*900,000 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, obligations Other b i l l s discounted + 32,300,000 24,500,000 51»600,000 27,100,000 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 . . . . Federal reserve notes i n c i r c u l a t i o n Total deposits Members' reserve deposits Government deposits . . . C. . . . • . . . . . . . during - $398,700,000 - 402,600,000 + 421,100,000 + 648,200,000 + 378,500,000 + 269,700,000 4,000,000 - 13,900,000 + 3,800,000 200,000 - - 3.900,000 - + 14,900,000 - 40,900,000 - 67,800,000 — 77,900,000 + 12,300,000 + 19,700,000 49,500,000 32,200,000 - 212,400,000 136,400,000 1,300,000 74,800,000 Released f o r p u b l i c a t i o n Friday mornizig, Aug. 10, 1928; not e a r l i e r . St. 5867a HE SOURCES AjSD LIABILITIES OF THE. TWELVE EED3BAL BE SERVE BAMS COMBINED ( I n thousands of d o l l a r s ) Aug. 8.1928 Aug. 1.1928 Aqg. 10.1927 1,107,601 72,563 1,180,164 695,550 729,702 1,117.466 63,509 1,180,775 690,048 7 28,715 1,615,882 4l,752 1.657,634 644,942 705,^29 Total gold r e s e r v e s Reserves other than gold 2,605,4l6 150,042 2,599.538 156,027 3,008,005 146,158 Total r e s e r v e s Non-re serve 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 bought i n open market II. 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 2,755,458 58,337 2,755,565 60,172 3,154,163 56,560 6q3,944 457,341 1,Obi,285 l6l,847 655,500 430,276 1,085,776 165.879 225,487 187,618 413,105 175.707 55,259 87^641 64^968 55,099 87.677 68,887 191,611 88,913 139.753 207,868 211,663 420,277 490 1,300 RESOURCES Gold with Federal r e s e r v e agents . . . . Gold redemption fund with U. S.Treasury . Gold h e l d e x c l u s i v e l y against 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 h e l d by banks 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 All other resources . . 1,431,490 cyij, 593 054 6o'l23 g *7I4.3 1,463,808 573 651,501 60,115 8,463 1,010,389 48,759 59^,915 59.^1^ 15,542 TOTAL RESOURCES 4,907,779 5,000,197 4,939.742 1,627,586 1,612,690 1,668,488 2,265,606 42,277 8,724 17,803 2,343.504 29,970 9,523 19,197 2,3l5.l4l 10,125 4,639 24,229 2,334,410 547,270 143^057 233,319 22,137 2,402.194 587.799 143,009 233,319 21,186 2,354,134 5^5.023 130,058 228,775 13,2b4 4,907,779 5.000,197 4,939.742 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 - r e s e r v e account . . . . Government >K$»Sreign bank Other deposits 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 TOTAL LIABILITIES . . . . . . Ratio of t o t a l r e s e r v e s t o deposit and F. R. note l i a b i l i t i e s combined . . . 69.5$ 68.6$ 78.4$ 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 305,018 306,285 155.^53 C. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BASKS OH AUGUST 8, 1928. ( I n thousands of d o l l a r s ) Total Boston New York Ehila. CI eve. Rich. Atlanta Chicago St.Louis RESOURCES Sold with Federal Reserve Agents 1,107,601 109.508 Gold redemption fund with U.S.Treas. 72,563 8,54l St. 5867b Minn. Kans.Cy. Dallas San Fran. 175.367 19.66l 75,315 131,507 6,576 5.252 24,496 2,138 68,158 214,742 4,828 9>131 22,345 p,012 43,509 2JH2 48,612 16,188 177,854 kiJ&3 1lQ49_ 1,180,164 118,049 195,028 81,891 136,759 26,634 72,986 223,873 28,357 47,382 50,845 17,457 ISO,903 Total gold r e s e r v e s Reserves othJar than gold 2,6o5,4i6 215,375 150.042 13,663 865,749 158.914 254,928 38,505 6.870 14,192 55,904 11,030 91,^06 428,554 18,054 18,023 Total r e s e r v e s Bon-reserve cash 2,755.458 229,038 58,337 5,402 894,254 165,784 269,120 18,539 1,858 3.051 66,934 1 0 9 . ^ 0 446,577 4 3,897 ,834 8.743 65,16s l6,4l3 81,581 3.332 70.766 102,253 2^6 5,l49 73,062 107.402 1,078 1,737 40,862 255.537 5,644 19,203 46,506 265,7^0 3,391 2,475 184,205 145,188 68,307 23,370 52.247 3 2,901 329.393 32,170 91.677 13.890 85,148 18,678 20,977 ^7.598 127,745 18,977 33,759—57.704—37.133 35,297 54.736 75.302 164,878 54,274 128 7,46l 12,754 11,507 1.384 5=5 11,53 9.002 15,594 11.340 28,501 33,927 934 26,623 5,550 33.107 1.153 591* 1.52? 3.276 9 19.9* 3.055 3,1*7 1.900 9,197 4,984 32.971 390,064 135,494 136,933 65.473 93,040 209.356 G °K R ! 1 n o t e s 1 U S i ^ Secured by U.S.Govt, o b l i g a t i o n s Other "bills discounted Total b i l l s discounted B i l l s bou^it i n open market % L r e r n m e n t SeCarltieal Treasury notes C e r t i f i c a t e s of indebtedness M n . s . flovt. 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 ard s e c u r i t i e s e e e : TOTAL RESOURCES c. 603.944 30,425 457.34-1 32.978 1,061,285 l6l,847 63,403 l4,36l 55.259 87,641 64.968 307,868 703 1,713 4,427 6.843 490 1,431,490 84.607 7,707 7,246 11,081 12,885 17,015 13,759 47,660 25,121 14.953 10,184 23,966 8,512 30,774 11,835 72,781 20,367 7.125 9.500 4,519 3.925 2.214 10,890 2,912 4,327 16.625 10,658 too 18,129 15,3a 71,027 36.285 50.607 57,935 109.669 4i 7,969 11,554 3,393 4.926 3,964 16,521 : " i 1# >i i l f j 11 i l '# "I 'I •! 'I 4,907,779 378,520 1,475.402 344,879 472,165 185,555 232,856 748,471 185.705 127,469 203,667 133,282 419,808 \ - • LI A B I L I T I E S > RESOURCES AND LIABILITIES' OTTfi*" FEDERALRESERVE BANKS ON AUGUST 2, 1922. ( i n thousands of d o l l a r s ) Total Boston New York P h i l a . Cleve. Rich. A t l a n t a Chicago St.Louis St. 5857c Minn. Kans.Cy. Dallas San Fran. F.i^tiotes in actual c i r c u l a t i o n 1,627,586 142,475 339,951 128,879 1 9 3 , 6 a 5 2 , ^ 9 128,771 275.889 57,4)0 53,829 97,931 30,479 165,862 M&aber bank - r e s e r v e account 2,265,606 150,350 863,957 131,825 182,421 67,633 2, 64,819 3^6,932 79»306 u 48,822 87,236 62,699 179,006 2,334,410152,625 890,609 134,297 185,654 71,333 62,625 351.^50 81,586 51,092 90,591 66,504 189,944 EEste Mfzl ™ Total d e p o s i t s TOTJtL LIABILITIES Bewrve ratio (pel cent) ^hase^for^foreign^correspondents F Sg "1 11 IIII111 '11 1 4,907,779 378,520 1,475,402 344,879 472,165 185,555 232,856 748.471 185,705 127,46° 203,667 133,282 419,808 69.5 77.6 72.7 63-0 71.0 54.1 55-5 71.2 58.6 69.6 72.3 48.0 74.7 22,924 M ? S ° t ° l a t r n o t ^ t i n clrctiltiL)386,794 25.170 > ; KB.notes issued to r.B.Barik i ^ j § IIII 'II1II 305,018 ;±ssirssr ,8 g fe 2 2,014.380 167,645 85,562 29.037 31.787 15.5=8 1 2,837 42,485 13,143 121.497 28,436 28,448 14,791 26,317 43,205 10,540 8.253 11.003 10,698 21,701 7,747 66,236 8.998 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS atg'«•&"« m « 461,448 157,315 222,069 67,200 155.088 319,094 68.030 61,576 66,929 35.888 232,098 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 5 HeSF ** . , Hi t l ,'1111 .is 1 8 7 ^ El: ssrr.'.„, C e r t i f i c a t e s of indebtedness DigitizedC. for FRASER 5,409 Total 64,968 ' ^ « ^ t y Within 15 days "if 1,235 6 ^ & 4 ^ b 16 to 30 days &S 9 s Ji are i l S ^ & n 5 31 to 60 days K2 c & 9 J r i & M s 6l to 90 days II 3 9 1 ^ g months 58,779 -II 2 7 0 > 1 Over 6 months
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