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STATEMENT FOR THE PRESS Rsleased for publication •Friday morning, Dec. 17; not earlier. 7 s t . 5191 Federal Reserve Board, December l6, 1926. - CONDITION OF FEDERAL RESERVE BANKS Largely as a result of the Treasury's financial operations, the consolidated statement of condition of the Federal reserve banks on December 15, made public by the Federal Reserve Board, shows a decline of $42,400,000 in holdings of discounted b i l l s and increases of $122,900,000 in member bank reserve deposits and $154,700,000 in Government securities, holdings of which included $188,000,000 of temporary c e r t i f i c a t e s issued by the Treasury to the Federal reserve banks pending the collection of the quarterly installment of taxes. Total b i l l and security foldings increased $105,400,000, Federal reserve note circulation $36,300,000, and cash reserves $2,600,000. The New York reserve bank shows a decrease of $60,000,000 in i t s discount foldings, San Francisco $4,400,000, and Dallas $3,500,000, while discount holdings of the Philadelphia bank increased $7,700,000, of St. Louis $7,200,000, Cleveland $4,gOO,000, and Kansas City $3,500,000. Open-market acceptance holdings declined $14,500,000 at the New York bank and $4,300,000 at Boston, and increased $5,100,000 at Chicago and $2, 300,000 at Cleveland, the System as a whole showing i decline of $6,900,000. Total holdings of |10,000,000 below l a s t creased $200,700,000. temporary c e r t i f i c a t e s to three other reserve of taxes. Treasury notes were $36,000,000 and of United States bonds week's totals, while holdings of Treasury c e r t i f i c a t e s inOf the increase in the latter item, $162,000,000 represents issued by the Treasury to the New York bank and $26,000,000 banks pending the collection of the quarterly installment Most of the Federal reserve banks report a larger volume of Federal reserve notes in circulation than a week ago, the principal increases being: New York $14,200,000, Philadelphia $6,700,000, Cleveland $5,500,000, Chicago $5,300,000, and Boston $3,600,000. 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 tne week and the year ending December 15, 1926, follows: Increase or decrease during Year Week Total reserves . Gold reservss + $2,600,000 + 2,300,000 + $142,100,000 + 129,100,000 Total b i l l s and securities B i l l s discounted, total Secured by U.S.Govt, obligations Other b i l l s discounted +105,400,000 - 42,400,000 - 26,300,000 + - 35,600,000 B i l l s bought i n open market - + 31,400,000 U. S. Government securities, total Bonds . . . . . . . . . . . . Treasury notes Certificates of indebtedness . . +154,700,000 Federal reserve notes in circulation + 36,300,000 Potal deposits . . . . . . Members' reserve deposits Government deposits , « +103,900,000 +122,900,000 - 19,600,000 - 16,100,000 6,900,000 - 45,000,000 56,800,000 21,200,000 79,800,000 - 10,000,000 27,000,000 71,500,000 178,300,000 - 36,000,000 +200,700,000 + 51,900,000 92,000,000 89,100,000 200,000 ne Leased i or p u b l i c a t i o n Friday -norning. Bdc=wbor 17, 1920; net e a r l i e r . St. 5191a RESOURCES ME LIABILITIES OF THE TWELVE FEDERAL nEtEiJE BAiSFKS COMBINED (In thousands ex d o l l a r s ) RESOURCES Gold with Federal reserve agents 1 i . . Gold redemption iund with U.S. Treasury Gold held exclusively a g a i n s t FiR.nota "old settlement, .tuna with 1:, R< Board . Gold and zold c e r t i f i c a t e s held by ban;.fs Total %old reserves Reserves ot.ier than cold Total reserves Non-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 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 ox Indebtedness . . . . . Total U . S . Government seci~ritie 3 Otner s e c u r i t i e s . Foreign loans on 2old 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 TOTAL RESOURCES 192b Dec. 8, 192b Dec. l o , l y c 5 li^35,352 1,348,339 i;491,5gl 1,40b,653 1,394,759 54,570 1,449,3>9 622,65b 716,480 731)402 690,338 • Db4 i899 567,35c 2,330,717 2,528,3-3 2,701,55b 56,229 56,314 1*1,331 121,060 l%,35& <,952,048 2,949,453 2,809,944 51,007 48,920 45,663 321,981 240,32b 342,334 256,392 343,ia 275,946 302,307 604,72c bl9,067 364,125 390,989 352,692 ^6,436 349,595 1 i£ , 214 148,933 73,451 153,740 171,<80 478,239 3*3,583 2,5b4 396,471 <,3b3 4b,428 82, a o 3,195 8,796 1,427,235 1,321,80I 650 £94,699 60,14£ 13,919 651 009,517 1,382,223 710 252,147 15,71v bl,b07 17,632 5,399,706 ,Obo,237 5,209,926 1,840,132 1,803,787 1,738,230 2,353,883 6,170 6,204 26,223 ., c 3 0 , 9 7 1 2,2OU,797 25,798 13,459 18,361 5,954 8,398 21,356 2,392,480 2,288,589 2,300,505 797,018 1-4,752 604,18% 24,632 £27,072 116,964 217,237 19,318 ,0b6,237 5,269,926 DO,125 L I A B I L I T I E S F._ R. notes in actual c i r c u l a t i o n . . Deposits: Member bank - res-rve account . . Government Foreign bank Other deposits Total d e r o s i t s . . . . . . , Deferred avail Ability items Capital paid in Surplus ' All other l i a b i l i t i e s . . . . . . . . TOTAL LIABILITIES 124,734 <20,310 220,310 25,014 5,399,706 q Ratio 01 t o t a l reserves to deposit and 7. R, note l i a o i l i t i e s combined . . , b9«7> 72.1* bg,7% o ont in -re nt l i a b i l i t y on b i l l s purchased l o r 1 ore if,n correspondents . . . . . . 50,491 48,837 50,967 C. n£SCUuC£S Ayr LIABILITIES OF THE FEPERAL RESERVE BAInKS OK DECEMBER IS, 1926. (In tnousands ox d o l l a r s ) RESOURCES . . . .. Boston £-ew l c r k Pail.,. Cle/e. 7 kiicu.- Atlanta Chicago St .Louis - 2 3 S M K 2 \ ^ola a d d exclusively . g a i n s t 1" ^ n o t e s 133,15S - a lurr-SST" U s disccn3n ^.251 C sJ no7era^.ent°!dcu??ieI: Srerbill: a d : 5 H£l. TOTAL RESOURCES # ' r l t i s e c . r i t ied Pue from f o r e i g n banks * A A Minn. Kans. Cy. Dallas San Fran.. ' 74,14^130,223155,354 18,907 60,153 s g:% as? * 2 1:21 63,891 Total — —— 38,480 198,739 1,491,561 «•<& % s-a i-a ?•*; ?%%%% %"851:^ % % ,ig x§:fg ^ 100,029 53,06s 88 , 742 1 0 9 , 1 8 9 2 5 , 2 3 3 3 5 3 > ^ 27,643 1 2 , 2 5 2 45,320 99,937 35,134 ^5,324 51,146 1 2,849 3,997 12,969 16,597 8,690 33,249 562,307 19,467 14,346 30,560 384,125 ::| J;ll is! al ;il >•» IS |® [g |g jf ™ S : S M 1 Tota qon * 336,355 117,706 156,46b ^ ;*d : S <?t - 9.U0 89,4o7 - 213,595 422,813 65O 29,695 34, =73 F.' OOP 109,996 158,7b9 - - 6,W 46,679 1,8X1 58,648 I 2 72,455 209,731 l6,Ob9 % 70,602 564 33,599 tg %5 *5 '5 °:g ;i 11 -i 27,019 W.jai >7,^5 63,083 2 564 4 3 , 7 3 7 1 0 6 , 3 * 1 , 4 2 7 235 II # 416,7^6 1,653,117 383,752 526,2o7 24o,109 284,408 723,7^9 187,641 149,003 223,674 160,532 442,636 5,399,706 RESOURCES A,\»T LIABILITIES OF TEE FEDaAAL R E ^ f E 3A/:(S ON DECEMBER 1 ) , 1 ^ 0 . ( I n t h o u s a n d s ci d o l l a r s ) B o s t o n New York P u i l a . C l d v e . R i c h . A t l a n t a Cnlcago S t . L o u i s Minn. A a n s . C y . D a l l a s h . R . n o t e s in actujiI c i r c u l .-tion 4 0 3 , 8 5 6 1 3 9 , 6 5 5 2 2 4 , 4 4 8 8 5,703 1 65,454 236,608 4 7 , 1 3 1 6 7 , 8 8 8 7 2 , 0 3 3 4 9 , 2 3 2 159,769 Per'0 6 i t s : ...e.nber b^nr - r e s e r v e a c c o u n t 150,251 946,457 135,793 155,333 69,940 69,139 334,918 21,175 53,529 93,229 63,285 -o/arnrnent 249 1,3H 334 811 933 336 560 418 506 411 102 T o r e i ^n baril? 347 2,891 433 488 242 183 625 196 146 1?8 160 Ot.icr d e p o s i t s 11,239 116 1,40s 129 244 210 5,304 483 537 243 122 r ot:il deposits 150,976 9 6 1 , 5 2 0 1 3 6 , 6 2 0 187,789 7 1 , 7 3 7 6 9 , 8 6 6 3 4 1 , 6 5 8 82,272 5 4 , 7 1 8 9 4 , 0 6 1 6 3 , 6 6 9 Deferred a v a i l a b i l i t y items 79,020 1 8 6 , 4 7 3 75,165 75,114 69,172 33,625 94,431 41,914 14,447 43,137 34,527 Capi L .cJ. p a i d i n 8,800 36,419 12,605 13,618 6,098 5,031 16,685 5,302 3,074 4,185 4,302 Surplus 59,964 20,464 22,894 11,919 17,020 8,700 30,613 9 , 5 7 0 7,501 8,979 7,615 All o t n e r l i a b i l i t i e s 1,480 1,203 4,915 1,183 2,404 1,452 1,732 1,375 1,279 1,127 3,754 TOTAL LIABILITIES 4 l b , 785 1 , 6 5 3 , 1 4 7 3 2 5 , 7 5 2 5 2 6 , 2 6 7 2 4 6 , 1 0 9 284,408 723,749 1 2 7 , 6 4 1 1 4 9 , 0 0 3 2 2 3 , 6 7 4 1 6 0 , 5 3 2 Reserve r a t i o ( r e r cent) 68.2 74.7 71.5 62.1 65.2 76.8 71.3 66.5 5 0 . 5 7O.9 73-2 C o n t i n g e n t 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 15,107 4 , 6 3 0 3,704 1,901 1 , 7 0 6 5,215 2,523 1,949 2,096 1,560 6,677 n o t e s on band ( n o t e s r e c 1 d f r c : n r . k . A g e n t l e s s n o t e s i n c i r c u l a t i o n ) 48,792 97,636 2 8 , 2 9 5 a , 4 65 12 , 332 3 0 , 7 3 4 35,952 4,892 14,173 7,461 4,523 Ji^ic L I A B I L I T I E S San F r a n . Total 188,355 1,840,132 170,834 2,353,823 197 6,170 315 6,204 6,188 26,223 177,534 2,392,480 49,933 797,018 2,633 124,752 15,071 220,310 3,110 25,014 442,636 5,399,706 75.0 69.7 3,363 50,491 41,910 348,243 **>R. n o t e s r e c 1 d f r o m C o m p t r o l l e r ^ . R . n o t e s h e l d by R. Agent 256,467 FEDERAL RESERVE NOTE ACCOUNTS OE FEDERAL RESERVE ACENTS 786,812 202,750 283,653 1 2 5 , 9 2 0 2 5 8 , 5 4 3 452,483 72,234 88,423 1 1 5 , 4 1 6 285,320 34,800 37,740 27,879 b2,355 179,917 20,520 15,643 29,210 74,120 277,265 2,994,086 17,427 47.00J 805,711 f . R . r o + e s i s s u e d t o "^".R.Bark C o l l a t e r a l aeld as s e c u r i t y f o r ^ • R . n o t e s i s s u e d t o "P.R. Bank: Gold ar.d gold c e r t i f i c a t e s %old r e d e m p t i o n f u n d - o l d f u n d - F. R. Board E l i g i b l e paper 20s,567 5 0 1 , 4 9 2 1 6 7 , 9 50 2 4 5 , 9 1 3 56,693 230,265 2,188,375 ""ctal c o l l i t e r a l 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 , e s s iviuftic real v arrant s 47,2-0 35,300 168,697 23,4 55 8,780 96,041 196,188 272,56b 51,714 72,780 86,206 15,343 10,000 306,274 28,805 15,222 7,620 13,507 5,952 8,584 2,817 1,669 809 4,895 19,092 104,828 4,219 131,000 36,000 103,000 145,644 8 , 3 0 0 4 4 , 0 0 0 56,860 1 3 , 0 0 0 1 6 7 , 4 b 9 1 , 0 2 4 , 250 196,215 37,945 70,556 150,867 47,961 16,680 35,914 22,948 60,093 >19,193 214,8b7 519,370 177,407 274,130 1 1 0 , 7 0 2 1 9 7 , 3 b 2 299,328 65,550 74,99° 9 b , 9 9 3 59,186 2b4,654 2 , 3 5 4 , 5 4 5 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AM) MUNICIPAL WARRANTS 91 d a y s t o W i t n i n 15 d a y s l b t o 30 days j i to 60 days bl t o yv day s Total Over b m o n t n s b montns 446,952 42,924 26,096 6, 654 528 562,307 39,153 142,583 77,340 59,468 97,685 384,125 7,049 185,000 1 127,717 349,595 33,877 64 64 10,280 89,000 oO,28 7 8,973 14,080 97,977 130,000 70,457 121,270
@FedFRASER