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Released f o r publication Friday morning, Aug. 3; not e a r l i e r . SSLKDftflD&'lPRESS St. 5860 Federal Reserve Board, August 2, 1928. • CONDITION OF FEDERAL RESERVE BANKS The consolidated statement of condition of the Federal reserve "banks on August 1, made public "by the Federal Reserve Bdard, shows increases f o r the week of $60,700,000 i n holdings of discounted "bills, of $4,000,000 i n Government s e c u r i t i e s , of $43,600,000 in member "bank reserve deposits, and of $6,100,000 i n Federal reserve note circulation, and decreases of $3,200,000 in "bills "bought i n open market and of $5,600,000 i n cash reserves. Total b i l l s and s e c u r i t i e s were $61,500,000 above the amount held on July 25* The principal changes i n holdings of discounted "bills f o r the week were increases of $29,500,000 at the Federal Reserve Bank of New York, $31,800,000 at Chicago, and $7,000,000 at Riiladelphia, and a decrease- of $9,400,000 at Cleveland. The System's holdings of "bills "bought i n open market declined $3,200,000, while holdings of c e r t i f i c a t e s of indebtedness increased $3,500,000 and of. Treasury notes $500,000. A decline of $3,100,000 i n Federal reserve note c i r c u l a t i o n was reported by the Federal Reserve Bank of Cleveland and increases of $3,800,000 by New York, $2,700,000 by Boston, $2,000,000 by Chicago, said $6,100,000 by a l l Federal reserve banks. A summary of changes i n 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 1, 1928, follows: Increase or decrease during Year Week » $5,600,000 - B i l l s discounted, t o t a l . . . . . . . . Secured by U. S. Govt, obligations . . . U. S. Government s e c u r i t i e s , t o t a l . . . . Federal reserve notes i n c i r c u l a t i o n . . . C. - 4,500,000 + 61,500,000 + 60,700,000 + 59,100,000 + 1,600,000 - 3,200,000 + 4,000,000 + 100,000 + 500,000 + 3,500,000 + 6,100,000 + 56,100,000 + 43,600,000 + 9,600,000 + 4+ + — + - + $406,700,000 410,500,000 432,000,000 390,000,000 64o,4oo,ooo 250,400,000 12,000,000 195,600,000 133,600,000 2,800,000 64,900,000 59,800,000 8,500,000 6,400,000 16,200,000 Released f o r publication Friday morning, Aug. 3. 1928; not e a r l i e r . St. 5860a EE SOURCES ATO LIABILITIES OF THE TWELVE FEDERAL EE SERVE BANKS COMBINED (In thousands of dollars) RESOURCES Gold with Federal reserve agents . . . . , Sold redemption fund with U.S.Treasury . . Gold held exclusively against F.R.notes Gold settlement fund with F. R. Board . (fold and gold c e r t i f i c a t e s held "by hanks Total gold reserves . . . . . . Reserves other than gold Total reserves . . . . . Hpn-reserve cash . . . . . . . . . . . . B i l l s discounted: Sec. by U. S. Government obligations . Other b i l l s discounted 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 : 1Bonds Treasury notes C e r t i f i c a t e s 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 s e c u r i t i e s Pile from foreign banks Uncollected items Bank premises All other resources . . . . . . . . TOTAL RESOURCES . . . . 1,1998 July 1,117,466 63,309 1.150.775 690,048 728,715 2,599.538 156,027 2,755,565 60,172 655.500 430.276 1.085.776 165,879 55,099 87,677 68,887 211,663 490 1,463,808 573 651.501 60,115 Aug. 3.1927 1,119.717 71,406 1,191,123 680,561 732,347 2,604,031 157,154 2,761,185 64,517 v 596,385 428,724 1,025,109 169,083 55,044 87,206 65,391 207,641 490 1,402,323 573 626,843 * 1.588,341 40,219 1,628,560 664,501 716,966 3,010,027 152,248 3,162,275 55,684 265,503 179,870 445,373 177,882 188,715 84,828 133,737 407,280 1,300 1,031,835 48,723 637,703 59,4l4 15,152 8,463 5,000,197 60,113 8,628 4,924,182 5,010,786 1,612,690 1,606,582 1,672,530 2,343,504 29,970 9.523 19,197 2,402,194 587,799 143,009 233,319 2,299,893 20,331 8,651 2,349,898 13,727 5.167 24,857 2,393,649 573.844 129,864 228,775 12,124 5,010,786 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 Deposits: Member bank - reserve account Government Foreign bank . Other deposits Total deposits . . . . . 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 reserves to deposit mnd F. R. note l i a b i l i t i e s combined . . . . Contingent l i a b i l i t y on b i l l s purchased for foreign correspondents . . . . . . . C. 21,186 5,000,197 I7,24i 2,346,116 574,543 143,024 233,319 20,598 4,924,182 68.6# 69.92 77.8# 306,285 305,452 150,745 RESOURCES RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON AUGUST 1, 1928. ( i n thousands of dollars) Total s Boston E j s - i i - x s s a s s Gold hold e x c l u s i v e l y against F. R. notes 1,180,775 108,857 Total piia reserves Be serves other than gold 2,599.538 195,520 156,027 14,185 Total reserves Non-reserve cash 2,755.565 209.705 60.172 5,846 B i l l s discounted: a Total t i l l s discounted B i l l s Sought in open market U. S, Government s e c u r i t i e s : Treasury notes Certificates of indebtedness Total U,S, Govt, securities Other securities Totaihiiis and securities Due from foreign basks Uncollected items P5 em - ses All other resources TOTAL RESOURCES C. 1,085,776 66.047 165,879 19,856 87^77 68,887 211,663 490 2,486 4,427 7,6l6 1,463,808 93,519 573 37 651,501 66,289 60,115 3,824 8,463 94 5,000,197 379,3i4 New York Fhila. %%« Cleve. »i-ss cggnt st Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. % »:s a -n-g 16,657 194 147 a r e » , - a •*•£? s:»g 68,650 71,557 97,594 44,912 260,052 191,739 82,984 138,037 27,708 76,246 221,858 28,726 47,645 46,171 s?:g?g s a g g & ^ ; g 901,653 151,006 251,511 51,1*95 30,228 93,6% 411,942 7,4a) 14,499 11,571 18,711 18,986 16.810 2.238 931,881 158,426 266,010 63,066 112,357 430.928 85,460 73,795 18,964 1,794 4,325 3.916 4,477 9.063 3,197 1,143 % »:gg 339,883 94,398 87,299 56,347 35,288 14,290 17,318 l4M 9 , 7 2 3 27,843 19,6l4 ll,34o 5,550 35,479 21,648 33,897 - *•% 71,5*10 186,141 6,677 1 2,4o6 10,676 ^ 862 1,529 3,5^ 3,289 1,889 9,151 5,227 34,318 . »;& ?;& 5,100 5,280 10,399 102,694 50,792 270 451 1,905 2,401 , «;*» * . « . 55,139 16,038 22,176 26,758 136 9.971 8 , 4 6 ? 1 0 , 7 0 7 3:141 ^ 64,010 2 0 , 0 8 71 1 4 , ' 3 1 2 ^[o91 I ' j f l 12 4l4 2,214 4,327 3,919 4^927 7,125 11,045 18,558 15,824 17J82 4g0 410,650 130,336 138,5i4 66.568 89,173 231,135 62,4oo 37,544 49,201 53,289 101,479 218 47 52 25 ZL 69 186,572 52,952 58,716 46,308 18,438 77,135 16,568 1,752 6,806 3,48 2 2,833 8,720 1.267 239 1.271 412 1.272 982 1,566,120 345,5% 475,694 183,777 21 13 18 13,628 42,598 3,902 2,202 4,308 552 884 420 17 35 1,884 495 3,834 575 27,194 25,744 35,927 228,571 758,032 182,726 129,209 201,144 134,622 415,442 HESOWCSS^ ATO 'Ll^SBrCira^'OF THB FBffiBAL ^S®WBABK& ©}if MQtJST11, $928.' L I A B I L I T I E S ( i n thousands of d o l l a r s ) Total Boston New York Ehila. Cleve. Bich. Atlanta Chicago St.Louis F.B. n o t e s In actual c i r c u l a t i o n 1,612,690 142,023 3k),067 126,898 188*798 51.078 128,696 273,783 57,570 Deposits: Member bank - reserve account 2,343,504 146,154 935,417 131,512 186,837 65,067 63,477350,522 78,698 Government 29,970 1,306 7,229 i4038 790 3,221 2,722 5,667 1,263 Foreign bank 9,523 760 2,248 962 1,054 517 426 1,1408 436 Other d e p o s i t s __ 19,197 288 8.449 200 1,184 261 80 1,286 355 St. 5860c Minn. Kans.Cy. Dallas San Fran. 54,002 49,757 1,642 273 348 2,402,194 148,508 953:343 133,712 189,865 69,066 66,705 358,883 80,752 52,020 55,897 29,555 164,323 92,390 64,251 179,422 1,479 934 2,679 365 719 355 628 179 5.939 94,862 65.719 188,759 Total de-posits Deferred a v a i l a b i l i t y items 587,799 59,6l4 155,886 47,782 56,495 #,087 16,877 70,752 27,486 12,055 36,457 26,O4I 34,267 Capital paid i n 143,009 9,895 47,564 14,179 14,259 6,073 5.l4o 18,2a 5,381 3,022 4,202 4,318 10,755 Surplus 233,319 17,893 63,007 21,662 24,021 12,324 9,996 32,778 10,397 7,039 9,046 S 5 16,629 A l l other l i a b i l i t i e s — 21,186 1 , 7 8 1 6,253 1,313 2,256 1,149 1.157 1.615 l.l40 1-.071 680 m TOTAL LIABILITIES 5,000,197 379,314 1,566,120 345,5% 475,694 183,777 228,571 758,032 182,726 129,209 201,144 134,622 415,442 Reserve r a t i o (per c e n t ) 68.6 72.2 ' 72.0 60.8 70.2 52.5 57.5 68.1 61.8 69.6 68.1 53.3 76.6 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 306,285 22,924 86,829 29,037 31,787 15.588 12,837 42,485 13,143 8,253 11,003 10,69s 21,701 F . B . n o t e s on hand ( n o t e s r e c ' d from F.B.Agent l e s s notes i n c i r c u l a t i o n ) 4o6,122 25,048 127,801 29,191 32,594 14,738 27,020 45,234 11,055 7.208 8,838 6,115 71,280 FEEBBAL EE SERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F.B. notes r e c ' d from Comptroller 2,825,782 235,021 737,988 181,489 253,422 89,985 225,486 448,617 87,105 80,129 55,672 331,603 F.B. notes h e l d by F. B. Agent 806,970 67,950 270,120 25,k)0 32)030 24j 169 691770 1 29^600 18',480 18^919 3^530 20,002 96,000 ' !L F.B,notes i s s u e d to F.B.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.B.notes i s s u e d to F.B.Bank: Gold and gold c e r t i f i c a t e s Gold redemption fund Gold fund - F.B.Board E l i g i b l e paper Total c o l l a t e r a l B i l l s discounted B i l l s bou^it i n open market C e r t i f i c a t e s of indebtedness C.FRASER Digitized for 2,018,812 167,071 467,868 156,089 221,392 65,816 155,716 319,017 68,625 61,210 64,735 35,670 235,603 348,477 35,300 99.796 18,634 669,193 48,000 1,213,595 85,883 2,331,061 187,817 Total 1,085,776 165,879 68,887 153,161 50,000 20,396 22,750 7,900 14,167 17,206 9,512 11,130 4,996 9,916 1,808 2,040 2,376 3,508 5:000 68,577 70,000 39,500 213,000 13,000 28,000 4o,86o 2,567 16,103 3,000 140,256 360,136 89,963 104.293 61.533 83.902 196,681 55,255 23.920 30.504 37.443 84.076 535,503 168,052 235,423 86,925 156,06s 411,489 78,155 68,463 74,872 52,819 275,435 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES Oif INDEBTEDNESS 91 days t o Within 15 days 16 to 30 days 31 to 60 days 6 l to 90 days 6 months 896,105 41,986 81,514 51,540 14,255 52,006 39,364 42,714 6,276 25,519 1,210 9,803 35,ooo 40,968 Over 6 months 376 26,709
@FedFRASER