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Released f o r p u b l i c a t i o n Friday morning, Aug, 19; not e a r l i e r . STAXEMMT FOR THE PRESS St. 5478 F e d e r a l Reserve Board., Augurt 16, 1927. COXDITIOIT OF FED2EAL ESSEHVE EAZKS The consolidated statement of condition of the Federal reserve banks on lugust 17, made public by the Federal Reserve Board, shows d e c l i n e s f o r t h e week of $7,100,000 i n "bills and s e c u r i t i e s , of $20,200,000 i n member hank r e s e r v e dep o s i t s , of $4,000,000 i n Federal reserve note c i r c u l a t i o n , and of $5,300,000 i n cash reserves. Holdings of discounted b i l l s declined $22,500,000, and of acceptances purchased i n open market $4,800,000, while Government s e c u r i t i e s increased $21,300,000. The Hew York bank reports a decrease of $16,800,000 i n discounts f o r the week, Chicago a decrease of $8,300,000, Cleveland $7,100,000, and Boston $6,100,000, while the St. Louis bank reports an increase i n discounts of $5,000,000, and the Richmond and Kansas City banks i n c r e a s e s of $4,000,000 and #3.500,000, r e s p e c t i v e l y . Open-market acceptance holdings increased $3,700,000 at the Boston bank and declined $2,700,000 and $2,600,000, r e s p e c t i v e l y , at bhe Hew York and San Francisco banks. The System's holdings of Treasury c e r t i f i c a t e s increased $27,600,000 and of Treasury notes $6,900,000, while holdings of United States bonds declined $13,200,000. The p r i n c i p a l change i n Federal Reserve note c i r c u l a t i o n f o r the week was a decrease of $3,400,000 reported by the Federal Reserve Bank of Cleveland. A summary of changes i n the principal a s s e t s and l i a b i l i t i e s of the -reserve banks during the week and the year ending August 17, 1927, f o l l o w s : Increase or decrease Year 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 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 . . . . - - 7,100,000 22,600,000 5,000,000 17,600,000 - 4,800,000 - 21,300,000 13,200,000 + 6,900,000 + 27,600,000 + - Federal reserve notes i n c i r c u l a t i o n . . - Total d e p o s i t s Members' reserve d e p o s i t s Government d e p o s i t s . . . . . . . . . - C. $5,300,000 5,100,000 4,000,000 7,200,000 20,200,000 + 11,200,000 during $176,600,000 4- 168,600,000 + - I48,6OO,OOO 144,100,000 47,700,000 - 96,400,000 - 83,200,000 + + 81,500,000 94,200,000 - 121,400,000 + 108,700,000 - + + - 21,300,000 74,600,000 79,700,000 11,500,000 s l e a s e d f o r p u b l i c a t i o n Friday morning, Au.gu.st 19, 1527; not e a r l i e r . St. 5476a EE SOURCES MD LIABILITIES OF THE TWELVE FEDERAL RESERVE BASKS COMB I MED ( i n thousands of d o l l a r s ) Aug. 17,1927 Aug. 10,1927 Aug. 13,19%. R E S O U R C E S ' lold with Federal reserve agents zold redemption fund with U. S. Treasury . Gold held e x c l u s i v e l y against F.R.notes 1,636,161 4$,178 1,678,339 1,615,882 Hi,752 1,657.634 1,453»35° 6l,93& 1,515,292 l o l d settlement fund with F. R. Board . . >old and gold c e r t i f i c a t e s held "by banks . 618,127 706,478 644,942 705*429 661,402 657,o29 3,002,944 145,871 3,008,005 146,158 2,834,323 _.A37>897 3,148,815 3,154,163 2,972,220 54,76l 56,5^0 50*812 220,503 169,990 390,493 268,lol 2oo,383 534,544 178,443 95,788 167,297 225,487 187,6l8 413,105 175,707 ^ 191,611 88,913 139*753 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 441,528 300 420,277 1,300 360*018 3,200 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 i t e m s Bank premises All other r e s o u r c e s 1,003,253 39,057 700,966 59,444 16,3^0 1,010,389 48,759 594,915 59>l4 15,5^2 1,151»884 5,022,656 4,939,742 4,954,937 1,664,502 1,668,488 1,685,791 2,294,893 21,363 5,334 25,.)79 2,346,°b9 2,315»l4l 10,125 4,639 2^,229 2,354,134 2,215,239 32, 57 I'° 1—,0;9, 2,272,321 639,320 545,023 Total gold reserves Reserves other than gold Total reserves . Ion-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 . . . . 3 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 indebtedness TOTAL HESOURCES 170,932 r 254,122 , 84,209 217,192 5S»ol7 ^01» 3 59,914 17SJZ L I A B I L I T I E S F. R. notes i n actual c i r c u l a t i o n . . . . Member bank - r e s e r v e 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 = • r/T::::::::::::: All other l i a b i l i t i e s TOTAL LIABILITIES S:f5 12,699 5,022,656 % J 13 »^ 4 4,939,742 |:g 7_»—L 4,954,937 Ratio 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 . . . . 78.5$ 78.4% . 75-l/i 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 , Ib0,540 155• ^53 . 49,(7° C. RESOURCES RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON AUGUST 1$, 1927. ( i n thousands of dollars) Total Boston Gold v;ith Federal. Reserve Agents 1 , 6 3 6 , l 6 i 13^,357 Gold redemption fund with U.S.l'reas. 42,1?8 6,359 Gold h e l l e x c l u s i v e l y against F - R' I,678,339 I4O,716 Gold settlement fund with F.R,Board 6?8..127 51,422 Gold ana gold c e r t i f . held by hanks 706,478 29,747 New York Phila. Cleve. 346,368 130,670 206,989 12,174 6,329 4,668 St. 5476b Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 53,628 l40,254 273,752 23,766 56,654 62,858 27,443 179 422 722 2,093 1,172 2,030 813 2,501 1,218 2.ZM 358,542 136,999 211,657 179,034 47,508 70,369 465.989 28,097 42,825 54,350 142,347 274,924 24,357 9,211 125,686 4.970 7,200 56,325 25,796 13 521 13^854 57,467 9-929 gAi.4 65,159 28,444 8.442 28,661 181,721 11,64* 47,001 9.545 31.070 3,002,944 221,885 1,003,565 212,6o4 324,851 145,871 14,572 28,608 6,761 9,495 83.677 158,758 456,935 6,720 14,225 23,687 53,171 15,584 75 ; 810 102,045 4,474 5.654 49,851 259,792 8.147 7.944 Tptai_res&rves 3,148,815 236,457 1,032,173 219,365 334,346 Eon-reserve cash 54,761 6,469 13,039 4,070 1,235 B i l l s discounted: Secure! "by U.S.Govt, obligations 220,503 11,648 79,050 24,206 20,817 Other b i l l s discounted 169,990 15.356 23,966 12,947 7,065 T'otol b i l l s discounted 108,016 37,153 27,882 390,493 27,004 B i l l s bought i n open market 170,932 15,836 70,017 6,567 11,281 U. S. Government s e c u r i t i e s : Bonds 178,443 6,561 23,698 9,487 25,925 Treasury notes 4,050 95,788 24,298 7,375 10,857 C e r t i f i c a t e s of indebtedness 167,297 36,885 15,201 13.245 8,954 Total U, S. Govt, s e c u r i t i e s 441,528 19,565 84,881 32,063 50,027 Other s e c u r i t i e s V 300 90,397 172,983 480,622 8,211 4,943 4,405 68,755 80,284 107,699 57,998 267,736 3,344 1,150 2,835 2,298 2,762 5,909 15,374 4,147 24,1*75 14,656 11.807 13,623 1,925 4,864 4,424 6,726 3.757 8,242 28,338 13.158 21,283 33,l6o 25.430 6,789 11,150 9,201 6,983 39=131 20,604 3,513 4,453 5,266 11,999 5,650 41/496 Il,l6l 7,259 4,324 9,314 3,306 1,858 7,665 12,4:3 7,240 11,922 8,294 5,981 6,066 14,768 6,080 11,220 20,897 12,829 300 34,121 10,191 20,929 65,241 31,575 20,341 32,068 13,182 5,253 9,533 28,018 19,429 8,231 16,313 44,023 45,667 1,360 26,107 1,827 582 96,680 2,7a 37,353 3,516 1,104 TLtei_feoid._r3iserveB Reserves other than gold • Total M i i s _ a n d 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 TOTAL RESOURCES c. 1,003,253 39,057 700,966 59,444 16,360 62,405 2,915 68,252 3,946 57 262,914 10,952 184,19$ 16,276 6,227 75,783 3,731 59,920 1,749 319 89,190 4,124 67,782 7,118 1,366 - 51,381 2,021 56,368 2,396 369 - 53,272 124,976 1,594 5,364 26,649 90,044 2,900 8,521 1.56l 1,405 — — 6o,9l8 1,671 32,211 3,957 936 31,583 1,166 12,995 2,774 1,832 48,484 1,438 39,086 4,464 602 5,022,656 380,501 1,525,780 362,102 507,996 207,875 263,364 719,143 171,792 131,784 204,608 135,839 411,872 L I A B I L I T I E S RESOURCES AMD LIABILITIES OF THE iSDEHAL RESERVE BANKS.M AUGUST 1 ? 1 9 2 7 . . . st. 5476c (In thousands of dollars) Total Boston Hew York Phila. Clave. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 1,664,502 137,162 363,012 130,623 211,644 59.037 153,697 236,834 40,422 57,388 63,530 37,497 168,596 F.R,notes i n actual circulation Dap-sit 3: Member "bank - reserve account 2,294,893 147,591 882,511 138,180 190,661 75,669 65,708 344,128 80,177 49,241 90,825 57,714 172,488 Government 21,363 2,602 1,851 1,320 1,747 1,188 1,961 2,398 1,474 1,438 1,408 1,227 2,749 foreign "bank 1,948 450 4Q6 5,334 351 244 192 646 201 164 l4i 173 328 Other deposits 18,129 25,379 65 133 1,214 72 89 1,027 260 171 l64 23 3,972 t o t a l deposits 2,346,969 150,609 904,499 140,083 194,118 77,173 67,950 348,199 82,112 50,991 92,570 59,128 179,537 referred a v a i l a b i l i t y items 639,320 65,318 149,783 56,492 63,227 52,539 26,255 82,419 32,909 11,918 34,600 26,210 37,650 \ Capital paid in 130,391 9,426 39,093 13,224 13,949 6,237 5,148 17,316 5,295 3,005 4,220 4,262 9,211 1 Surplus 228,775 17,60b 6 i , 6 i 4 21,267 23,746 12,198 9,632 31,881 9,939 7,527 9,029 8,215 1 6 , 1 a other l i a b i l i t i e s 12,699 380 2,774 353 1,312 691 682 2,494 1,115 955 659 527 757 \ TOTAL LIABILITIES 5,022,656 330,501 1,525,780 362,102 507,996 207,875 263,364 719,143 171,792 131,784 204,608 135,339 411,872 Retserve r a t i o (per cent) 31.1 78.5 82.2 82.4 66.4 81.0 8 2.4 78.0 8 2.2 56.1 74.1 60.0 69.0 76.9 Cti^itiagent l i a b i l i t y on "bills purchased f o r foreign correspondents 160,5^0 11,889 6,816 8,243 45,934 15,217 16,803 6,499 21,875 5,543 11,096 5,865 4,755 notes on hand (notes rec'd from , IPja.Agent l e s s notes in'circulation)390,626 26,382 130,902 35,537 26,007 14,757 26,109 55,411 5,248 5,258 10,225 5,470 49,270 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS i'.jL.notes rec'd from Comptroller 2,903,263 239,244 790,99% 202,270 26i,84i 99,738 253,646 448,145 64,990 86,680 112,055 60,394 283,266 F.R.notes held by F. R. Agent 848,135 75,700 292,080 36,000 24,190 25,944 73,840 155,900 19,320 24,034 38,300 17,427 65,400 P.H,notes issued to F. R. Bank 2,055,12s 163,544 498,914 166,270 237,651 73,794 179,806 292,245 45,670 62,646 73,755 42,967 217,866 Collateral held as security for F.R. notes issued to F.R. Bank: Gold and gold c e r t i f i c a t e s 413,276 35,300 215,150 30,000 36,469 17,217 8,500 12,267 18,373 40,000 Gold redemption fund 104,500 15,057 21,218 10,393 11,989 6,409 9,037 1,752 2,266 1,387 4,070 15,924 4,998 Gold fund - F. R. Board 1,118,385 84,000 1 1 0 , 0 0 0 1 2 0 , 2 7 7 165,000 10,750 i i 4 , o o o 272,000 13,000 43,ooo 57,860 5,000 123,493 E l i g i b l e paper 539.087 42.840 171.000 36.822 37.274 29,171 39,579 57,984 28,677 10,812 15,923- 17,194 51,811 Total c o l l a t e r a l 2,175,248 177,197 517,36s 167,492 244,263 32,799 179,833 331,736 52,443 67,456 78,731 44,637 231,233 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS 91 days to Total Within 15 days l o to 30 days 31 to 60 days ol to 90 days Over 6 months 6 months B i l l s discounted 300,567 390,493 22,945 22,588 6,705 103 37,585 B i l l s "bought i n open market 102,704 22,444 170,932 27,887 16,363 1,534 C e r t i f i c a t e s of indebtedness 167,297 92,925 74,372
@FedFRASER