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STATEMENT FOR THE PRESS St. 5589 Federal Reserve Beard, "December 1, 1927• Released f o r p u b l i c a t i o n Friday morning, Dec. 2; not e a r l i e r . CONDITION OF FEDERAL RESERVE BANKS The consolidated statement of condition of the Federal reserve banks on November 30, made public "by the Federal Reserve Board, shov/s increases f o r the week of $58,700,000 i n holdings of discounted "bills and of $28,000,000 i n acceptances purchased i n open market, and decreases of $73,'400,000 in Government security holdings, $52,700,000 in cash reserves,, $12,100..000 i n Federal reserve note c i r c u l a t i o n , and $14,000,000 i n member banlc reserve deposits. Total "bills and s e c u r i t i e s were $13,600,000 above the amount h e l d a week ago. Larger holdings of discounted "bills were reported "by e i g h t of the Federal reserve hanks, the p r i n c i p a l increases "being: New York $55>-03,000, Chicago $10,400,000 and Philadelphia $6,300,000. The System's holdings of acceptances purchased i n open market increased $28,000,000 and of Treasury notes $4,200,000, while holdings of Treasury c e r t i f i c a t e s declined $77,600,000 as a r e s u l t of the reduction from $80,500,000 t o $2,000,000 i n holdings of temporary c e r t i f i c a t e s issued "by the Treasury i n connection with i t s November f i n a n c i a l operations. The p r i n c i p a l changes i n Federal reserve note c i r c u l a t i o n f o r the week comprise declines of $6,400,000 and $3,400,000, r e s p e c t i v e l y , reported By the New York and Cleveland reserve "banks, and an increase of $4,600,000 r e ported by Chicago. A sumtnary 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 November 30, 1927> follows; 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, obligations Other b i l l s discounted . . . . . - $52,700,000 - $16,300,000 55,000,000 - 13,600,000 58,700,000 58,200,000 500,000 + 58,400,000 - 168,500,000 6,000,000 - 162,500,000 28,000,000 - 73,400,000 + 241,900,000 . + . + . + 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 d e p o s i t s Members' reserve deposits Government deposits . . . during . • . . + - 24,600,000 13,400,000 77,600,000 + 216,700,000 - 57,300,000 + 82,500,000 12,100,000 - 22,600,000 + 88,800,0*00 + 121,400,000 4,200,000 . — 14,000,000 1,900,000 - 55,100,000 33,600,000 Released f o f p u b l i c a t i o n Friday moaning, December 2*1927; not e a r l i e r . St. 5589 a EE SOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS 6ofdBINED X In thousands of d o l l a r s ) Nov. 30.1927 Nov. 23.1927 Dec.l. 1926 RESOURCES Gold with Federal reserve agents . . . . . . Gold redemption fund with U.S.Treasury . . Gold held 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 . 1,476,253 1,569,165 1,342,346 1,525,491 631,911 647,584 1,610,759 588,007 661,172 1,401,945 Total gold r e s e r v e s Reserves other than gold 2,804,986 134,904 2,859,938 132,687 2,829,625 126,526 Total reserves I^pn-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 2,939,890 58,274 2,992,625 54,117 2,956,151 49,116 345,070 131,955 286,826 131,469 35l,o6o 294,4I6 477,025 418,295 645,476 35I+,7I+0 326,710 ^7/ 264,752-1, 264,688 55»-6iT * 51,428 227,492 305,116 621,232 547,835 635 915 368,163 1,380,515 566 692,230 60,001 13,991 1,366,872 565 706,811 59,945 13,707 1,322,111 652 729,046 60,106 15,339 5,145,467 5,194,642 5.132,521 1,716,574 1,728,703 1,771,626 2,378,563 2,093 4,842 27,672 2,257,165 35,689 14,065 17,44i 2,413,170 637,726 131,698 228,775 17,524 2,392,520 3,981 5,914 33,375 2,435,790 651,939 131/649 228,775 17,786 5,145,467 5,194,642 5,132,521 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 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 . . . . Uncollected items Bank premises TOTAL RESOURCES 739,979 687,701 48,021 112,912 305,908 2,564 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 - reserve account Government Deferred a v a i l a b i l i t y items TOTAL LIABILITIES . . . . . . 2,324,360 667,987 124,462 220,310 23,776 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 . . . . 71.2$ 71-9# 72.2$ 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 186,186 186,781 48,889 C. BE SOURCES AND LIABILITIES OP THE FEDERAL RESERVE BANKS OH NOVEMBER 30, 1927. St. 5589b RESOURCES ( i n thousands of d o l l a r s ) Total Boston New York Ehila. Cleve. Rich. A t l a n t a Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal Reserve Agents 1,476,253 96,39% 275,067 108,287 202,622 35,993 134,603 257,767 4 l , 6 4 l 46,481 50,282 34,083 193,033 1,400 1,779 2,4l0 1,635 2,410 Gold redemption fund with U.S.Treas, 4-9 , 238 7,l66 13,67# 5,89% 4,255 2,920 2,115 3,572 C-old h e l d exclusively against - " f T r . notes 1,525,491 103,560 G"-'H settlement fund with F.R.Board 631,911 and gold c e r t i f . h e l d by banks 647,584 39,799 3 2,770 to,260 . 52,692 22,l8o 11,467 15,845 7,071 28,911 6,839 288,745 114,185 206,877 38,913 136,718 261,339 43,041 261,204 415,208 23,922 6,881 42,791 26,186 53,423 40,517 5,329 8,173 91»54l 53,422 , ,, 35,718 195,443 9,963 7,333 36,997 31,717 Total gold r e s e r v e s Zto^vves other than gold 2,8o4,9S6 176,129 134,904 13,720 965,157 183,162 300,817 24,575 7,494 10,748 69,716 150,220 4o6,302 76,694 6,229 14,282 17,074 12,627 71,176 4M7 88,442 Total r e s e r v e s lion-reserve cash 2,939,890 189,849 58,274 6,475 989,732 190,656 311,565 17,200 83 2 3,935 75,945 164,502 423,376 $9,321 4,676 4,218 7,583 3,327 75,623 1,213 94,845 62,605 271,871 2,588 2,087 4,l40 Bl s i c u S d ° b r u ! s ! G o v t . obligations Other M>-is disccuntcd 345,070 131,955 21,843 16,727 132,873 15,242 27,490 33,459 13,19 2 6,528 10,599 13,027 8,354 26,872 43,494 11,421 17,402 L302 Total b i l l s discounted B i l l s bought i n open market 477,025 354,740 38,570 39,021 148,115 104,063 4],682 32,048 18,953 50,026 60,896 49,947 J 264,7^14,054 5 5 , 2 , 6 5 4 2 2 7 , 4 ^ 17,527 Vonds°Verament S e C U r i t i e S ' Treasury notes C e r t i f i c a t e s of indebtedness Total, u.s.'Govt. 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 E E S " All other resources TOTAL RESOURCES c. 47,946 16,346 3 3 5 , 9 3 1 8,305 6,472 811 57,811 21,912 1 7,764 5,675 547,835\ 34,235 915 $1^- — 1,380,515 111,826 WE 13.991 6 ii97 39,987 17,098 ll4,o62 ~ i 44,730 100 60,857 12,417 ™ ~ 366,240 117,560 117,942 s:S 5,071 3>H iS 1,229 81,396 502 39,899 .2,546 18,723 4,439 1,104 2^13 10,403 ^036 3,723 20,590 19,439 8,926 53,014 264,157 3+521 7,714 2,688 36,669 4^6—4,585 6,784 18,414 41,254 7,622 5,680 46,489 18,267 11,042 20,412 19,542 25,060 2,4l3 5,379 7,5l6 4,44l 3,013 3,012 2,465 6,820 3 2 , l 4 7 12,116 7,793 l 4 J 2 8 _ l ? ^ _ l g i 2 Z g _ . 14,913 ?o0 84,015 — 37,899 ~ 23,276 38,153 37,4&L — 45,797 57,618 194,858 61,061 48,144 66,518 62,679 94,673 751 1,271 ti i| 1,384 1,360 t i tf i i 537. S§3_ 5,145,467 379,380 1,574,456 369,890 502,671 225,082 257,634 712,952 192,264 144,244 209,849 159,593 417,452 St BE SOURCES AND LIABILITIES OF THE FEDERAL EE SERVE BANKS ON NOVEMBER 30, 1927* 5589c 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 Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes i n a c t u a l c i r c u l a t i o n i , 7 i 6 , 5 7 4 134,781 362,735 137,835 211,635 76,478 lHs,o67 2%,426 53,420 61,664 65,582 48,771 169,180 ^Member'"bank - reserve account EEEBi,, Total d e p o s i t s B E ™ TOTAL LIABILITIES • Reserve r a t i o (per cent) °chasedefor1^ofeigp^correspond^t s 2,378,563 151,491 939,795 l4l,509 190,168 71,071 67,634 342,432 84,210 56,511 90,428 6 7,882 175,432 2,4i3,170 152,738 953,725 142,811 193,290 72,498 68,333 344,405 86,025 57,628 92,950 68,262 180,505 . & g -S £ . § . * I . S . i 5,145,467 379,380 1,574,456 369,890 502,671 225,082)257,634 712,952 192,264 144,244 209,849 159,593 417,452 71.2 66.0 75-2 67.9 76-9 51.0-^76.0 71-7 64.1 63.4 59-8 53-5 77-7 186,186 14,009 51.142 17,931 19,799 30,800 2,126,706 165,581 \j Municipal warrants - 8,032 5.603 6,911 6,537 13,075 1 28,743 32,852 37,850 l6,S04 28,808 47,798 5,926 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 6,429 8,627 9,117 56,377 68,093 74,209 491,478 170,68 7 249,485 Within 15 days Total 8:8 155 9,713 7,658 25,776 ^ a - a frg j liiLfSi'SSL .L i . I P 1 I I I| I I I P ! I I 1 1 I j j i i - ^ R ^ e n t ^ ^ n o t e ^ i n c i r c i l t i o n ) 410,131 F.R.notes i s s u e d t o f . r . B a n k 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 8 J - 16 to 30 days *-f0 100 93,282 176,875 294,224 31 to 60 days ™ 32, 59,3^ 6 l to 90 days 'T' g months 57,888 225,557 55 3 >
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