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STAIiSlMff jTOB TEE PBBS8 Released, foy p u b l i c a t i o n Friday, morning, Aug. 17; not e a r l i e r . St. 5880 Federal Be serve Board, August l 6 , 1928. CONDITION OF FEDERAL RESERVE BANKS The consolidated, statement of condition of the Federal r e s e r v e hanks on August 15, made p u b l i c "by the Federal Reserve Board, shows decreases f o r the week of $58,800,000 i n h o l d i n g s of discounted h i l l s and $1,500,000 i n Government s e c u r i t i e s , and i n c r e a s e s of $28,100,000 i n holdings of b i l l s bought i n open market, of $19,600,000 i n member bank r e s e r v e d e p o s i t s , of $11,000,000 i n Federal r e s e r v e note c i r c u l a t i o n , and of $7,800,000 i n cash 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 were $31,700,000 below the amount h e l d on August 8. The p r i n c i p a l changes i n holdings of discounted b i l l s were decreases of $54,800,000 a t the Federal Reserve Bank of Her/ York, $12,300,000 a t Chicago, and. $5,900,000 a t Cleveland., and i n c r e a s e s of $6,400,000 at P h i l a d e l p h i a , $4,300,000 at Boston, and $3,400,000 a t Minneapolis. The System's holdings of b i l l s bought i n open market i n c r ea se d $28,100,000 and of c e r t i f i c a t e s of indebtedness $1,000,000, while holdings of Treasury notes d e c l i n e d $2,000,000 and of United S t a t e s bonds $400,000. Federal r e s e r v e note c i r c u l a t i o n shows an i n c r e a s e of $4,800,000 a t the Federal Reserve Bank of New York, $3,000,000 a t Cleveland, $2,300,000 a t P h i l a d e l p h i a , and $11,000,000 a t a l l Federal reserve banks. 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 the week and the year ending August 15, 1928, f o l l o w s : Increase or decrease Week during Year Total r e s e r v e s Gold r e s e r v e s + $7,800,000 + 7,200,000 - 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 discounted - 396,600,000 612,000,000 4- 346,4oo,ooo + 265,700,000 31,700,000 58,800,000 37,100,000 21,700,000 B i l l s bought i n open market . . . . + 28,100,000 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 indebtedness . . - 1,500,000 too,000 - 2,000,000 + 1,000,000 - $385,500,000 390,400,000 + + + 19,000,000 - 235,100,000 123,600,000 10,200,000 101,300,000 - Federal r e s e r v e notes i n c i r c u l a t i o n + 11,000,000 - 25,900,000 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 - 10,900,000 + 19,600,000 - 33,000,000 - 23,500,000 9,700,000 12,100,000 . . * C. - Released for publication IFrlcLay morning, Aug. 17,1928; not earlier. St. ^860a, EE SOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BASKS COMBINED (la thousands of dollars) ' Jiae. IS. 1928 Aug. 8,1928 Aafr. 17,192%. R E S O U R C E S Gold with Federal reserve agents . . . . Qtold redemption fund with U.S.Treasury . Gold held exclusively 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 held "by banks Total gold reserves Reserves other than gold . . . Total reserves . Non-reserve cash Bills discounted: Sec. by U.S. Government obligations . Other "bills discounted . . . . . . . . Total b i l l s discounted Bills bought in open market . . . . . . U. S. Government s e c u r i t i e s : Bonds Treasury notes Certificate;-, 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 securities . . . . Due from f o r e i g n banks Uncollected items • Bank premises All other resources TOTAL RESOURCES 1,117,%50 71»555 1,189,005 1,107,601 72,5"3 1,180,16% l,636,l6l -!2,17 1,678,339 694,976 728,611 695>550 729> (02 618,127 70°>%7° 2,612,592 150,699 2,763,291 2,605,4l6 150,0%2 2,755>%58 3,002,9%% 1%5,871 3,1%8,815 oO,35% 58,337 5%,?6l 566,85% 435,680 603,9%% %57,3%1 220,503 169,990 1,002,53% 1,061,285 390,%93 189,902 l6l,8%7 170,932 5U,819 55.259 IT?. W 85,622 65,972 ^7, o i l 64,908 . C7007 xcf,297 206,4l3 207,868 990 %90 ^99. 1,399*^39 1,%31,%90 1,003,253 575 735,573 574 593,054 „^»057 700,966 60,125 8,993 . . . . „ 441,528 , 5,028,750 ^0,123 '' • 4,907,779 59, 5,022,656 1,638,622 1,627,586 I,6o4,502 2,285,180 9,307 8,953 2,265,606 ^4,893 a.3g 2^379 9 - L I A B I L I T I E S F. R. notes in actual circulation Member bank - reserve account Government Foreign bank . . . . . . . Other deposits Total de-posits Deferred availability items =- All other l i a b i l i t i e s TOTAL LIABILITIES ^.277 M 20>053 2,3?3>^93 665,639 17 >803 2*33^,^10 %,270 ? *'< 2,3^0,9^9 ^320 22,982 22,1.? f %,907,779 ±£l2ZZ : »£ §:| | | 5,028,750 Ratio of total reserves to deposit and F. R. note l i a b i l i t i e s combined . . . 69.7# . °9*5T» 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 . 290,180 305,018 5,022,656 ' ^ . >0 IBSOUaGES* AUD LIABILITIES OF THE E3BERAL RESERVE BANKS 03 AUUUOI' lp, LSICIO. ut. > - O W ° RESOURCES (In thousands of dollars) Total Boston New York Ehila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran.. 1 Go" d with Federal Reserve Agents l,ll7,%50 107.264 175.28% 81,5%9 132,20% 23,%27 67,%22 21%,6l3 22,099 %3.509 %7»t>63 15.807 186,609 Gold redemption fund with U.S.Treas. 71,555 9,853 17,98% 8,136 5.389 2,080 %,285 7,957 5,700 lt5II &ZS2. LuSli 2,280 ^F7~RT^notes 1US1V C l y 1,189,005 117,117 Gold settlement fund with F.R.Board 69%,976 59,523 Gold and gold c e r t i f . held "by banks 728,611 26,817 193,268 8 9 , 6 8 5 137,593 2 5 , 5 0 7 71,707 222,570 27,799 %7,087 50,%%% 17,339 188,889 211,969 37,252 8%,%59 19,877 8,81% 159,1%1 18,%32 l%,l66 %2,2D% 10,101 28,978 %98,560 27,39 2 39,8%8 8,757 5,215 55*020—11,576 5»%19 6,611—12,581 30,815 Total gold reserves Reserves other than gold 903,797 15%,329 261,900 5%,1%1 85,736 %36,73l 57,807 66,672 99,319 %0,021 2%8,682 28,298 6,711 15,073 10.603 17,28% 18,319 17,065 2,%51 5,505 5,872 10,172 2,612,592 203,%57 150,699 13,3%6 Total reserves 2,763.291 216,803 Son-reserve cash 60,35% 5.970 B i l l s discounted: Secured by U. S.Govt. obligations 566,85% 30,891 Other 'Dills discounted %35,680 36,8%7 Total "bills discounted 1,002,53% 67,738 ^Bills bought in open market 189.902 18,839 10, S. Government securities: Bonds 5%.819 703 Treasury notes 85,622 1*713 Certificates of indebtedness 65.972 %,%27 Total U . S . Govt, socuritios 2O6,%13 6,8%3 Other securities 990 ~ Total b i l l s and securities 1,399,839 93,%20 Ei=r TOTAL RESOURCES 932,095 18,535 276,973 6%,7%% 1 0 3 , 0 2 0 %55,050 7%,872 3,603 1,883 3,6l6 3,927 5,0%5 8 , 5 1 9 161,0%0 %5,893 258,85% 2,%65 2,339 3,156 6 9 , 1 2 3 10%,82% 1,296 72,%6% %8,l%3 2 1 , 2 7 7 1 9 , 6 6 8 112,593 19,285 10,238 1 0 , 8 5 3 1%,%97 25,615 31,101 32,165 57.573 39.986 35.208 8.125 1 0 . 9 6 0 15.1%1 27%,575 98,079 79,2%% 53,%%2 77,2%l 152,579 5%,%93 18,363 21,813 29,638 11 9.932 8,878 12,%S6 50,393 15,192 20,085 7,793 13,000 1 2 , 5 6 9 15%,961 119,61% 1,38% 585 7,993 9 , 0 0 2 16,31% ll,3%0 5%8 27,009 5,550 1,153 59% 1,529 2% 19,927 3,055 %,972 2,09% 9.287 7,125 9.500 51,98% 23,3%5. 75,329 20,72% %2 %,519 10,890 7,919 3,925 2,912 3,393 n . 5 5 4 2.21% %.327 . 3,96% 4,986. 33,107 3 , 2 7 6 5,173 3%,186 1 6 , 6 2 5 1 0 , 6 5 S 1 8 , 1 2 9 1 5 , 2 7 6 1 6 , 5 2 2 500 ~— 1 351,159 13%,198 132,%36 6%,511 95,%l% 199,33% 71,129 39,%%3 %S,820 57,%00 112,575 25,691 20,927 * "1 5,028,750 391,788 1,521,029 359,051 486,831 ^ il il '4 "I "I 19%,301 2 3 2 , 1 2 6 7 6 9 , 0 7 5 188,095 127,758 205,80% 4 1 3 5 , 3 6 1 %17,531 L I A B I L I T I E S 3\R. notes i n a c t u a l c i r c u l a t i o n L iuSSDUaaffS AB1) E m r i l l T i a r S - W U1T 1: v« ( i n thousands of d o l l a r s ) Total Boston New York E h i l a . 01eve. Rich. A t l a n t a Chicago St.Louis 1,63s,622 142,892 lepr-sVus: Total de-posits 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 Reserve r a t i o (per cent) 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 correspondents 290,180 F . R . n o t e s on hand (notes r e e ' d from F.R.Agent l e s s notes i n c i r c u l a t i o n ) 3 7 8 , 0 3 6 F.R. notes r e e ' d from Comptroller F.R. n o t e s h e l d by F. R. Agent F.R.notes i s s u e d to 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 F.R. notes i s s u e d 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 185,277 67,689 8 1,715 448 914 1,374 195 187,573 70,047 61,941 51,095 14,301 6,075 24,021 12,324 2.388 1,217 486,831 194,301 72.1 52.4 63,615 346,540 78,844 49,668 1,156 1,701 490 566 369 1,222 378 237 127 328 977 529 65,267 350,44o 8O,24I 50,799 22,086 87,626 33,269 12,457 5,213 18,222 5,358 3,017 9,996 32,778 10,397 7,039 1,324 3,815 l,4o6 1,104 232,126 769,075 188,095 127,758 66.4 53.2 54.4 72.7 22,116 78,455 28,014 30,668 15,039 12,385 40,988 12,680 24.009 119,067 23,330 25,060 15,227 26,442 44,849 11,030 92,123 62,427 678 1,030 308 317 472 76 93,590 63,841 39,464 27,820 4,202 4,318 9,046 8,527 700 535 205,804 135,361 68.8 48.7 177,418 832 624 5,6o4 184,478 39,541 10,760 16,629 121 41?,531 74.0 7,962 10,616 10,321 20,936 9,214 8,278 5,887 65,643 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 2,816,638 238,351 799,980 71,450 2,016,658 166,901 732,806 179,949 251,297 94,419 223,312 449,543 87,224 79,095 99,060 54,609 326,973 269,000 25,400 29,630 25,649 68,630 128,500 18,800 16,539 31,980 18,402 96,000 463,806 154,549 221,667 68,770 154,682 321,043 68,424 62,556 67,080 36,207 230,973 352,827 88,153 676,470 1,155,853 2,273,303 153,161 50,000 20,396 24,6oo 7,900 14,167 12,303 35,000 17,123 8,972 12,204 3,031 6,822 1,613 1,199 1,342 3,803 2,504 15,576 5,000 72,577 70,000 36,000 213,000 13,000 28,000 43,860 1,000 136,033 312,442 95,134 98,808 58,674 90,158 165,004 54,477 25,903 30,570 42,094 96,032 487.,726 37F.683 231,012 82,101 157,580 379,617 76,576 69,412 78,233 57,901 282,641 Total. 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 indebtedness C 3%,739 131,219 196,607 53,5^3 128,2k) 276,194 57,394 53,342 58,802 30,320 165.330 2,285,180 149,458 877,781 134 j4o 628 9,307 349 154 6b0 2,641 8,953 835 482 20,053 9,574 J15 2,323,493 150,949 890,624 135,644 665,639 68,561 167,086 54,693 144,695 10,039 48,792 14,368 233,319 17,893 63,007 21,662 22,982 1,454 6,781 1.465 5,028,750 391,788 1,521,029 359,051 69.7 73.8 75.5 60.3 Eenb3r bank - reserve account Government Foreign bank Ctlicr d e p o s i t s Minn. Kans.Cy. Dallas San Fran. 1,002,534 189,902 65,972 35,300 13,964 58,000 86,557 193,821 MATURITY DISTRIBUTION OF BILLS AtTD CERTIFICATES OF INDEBTEDNESS 91 days to ilithin 15 days l 6 to 30 days 31 to 60 days 6l to 90 days 6 months 823,346 77,748 1,955 » 44,542 37,618 79,650 39,4l4 42,491 27,693 12,031 7,429 41,633 Over 6 months 474 22,384
@FedFRASER