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S?ATEl,ro fOB .TH3 PRESS st. 5675 Released f o r p u b l i c a t i o n F r i d a y morning, Feb. 10; not e a r l i e r . F e d e r a l Reserve Board, February 9, 1928..... CONDITION OF FEDERAL RESERVE BASKS The c o n s o l i d a t e d s t a t e m e n t of c o n d i t i o n of t h e F e d e r a l r e s e r v e ' h a n k s on F e b r u ary 8, made p u b l i c hy t h e F e d e r a l Reserve Board, shows i n c r e a s e s of $35,400,000 i n h o l d i n g s of d i s c o u n t e d b i l l s , $ l 4 , 4 0 0 , 0 0 0 i n cash r e s e r v e s and $7,200,000 i n F e d e r a l r e s e r v e note c i r c u l a t i o n and d e c r e a s e s of $8,100,000 i n b i l l s bought i n open m a r k e t , $32,300,000 i n Government s e c u r i t i e s and $9,©00,000 i n member bank r e serve d e p o s i t s . T o t a l b i l l s and s e c u r i t i e s were $5,100,000 below the amount h e l d sl week ago; An i n c r e a s e of $12,400,000 i n h o l d i n g s of d i s c o u n t e d b i l l s was r e p o r t e d by the F e d e r a l Reserve Bank of B o s t o n , $11,500,000 by New York, $10,600,000 by C l e v e l a n d and $10,200,000 by Chicago. These i n c r e a s e s were o f f s e t i n p a r t by a t o t a l r e d u c t i o n of $9>300,000 i n d i s c o u n t h o l d i n g s r e p o r t e d by t h e e i g h t o t h e r F e d e r a l r e s e r v e b a n k s . The System's h o l d i n g s of b i l l s bought i n open market d e c r e a s e d $8,100,000, of U. S. bonds $ 5 , 5 0 0 , 0 0 0 , of T r e a s u r y n o t e s $22,300,000 and of c e r t i f i c a t e s of i n d e b t e d n e s s $4,500,000. F e d e r a l r e s e r v e note c i r c u l a t i o n was $7,200,000 more t h a n a week ago, an i n c r e a s e of $10,600,000 r e p o r t e d by t h e Federal*Reserve Bank of A t l a n t a and. s m a l l e r . i n c r e a s e s by f o u r o t h e r banks b e i n g p a r t l y o f f s e t by a t o t a l r e d u c t i o n of $5,800,000 r e p o r t e d by t h e r e m a i n i n g banks. A. summary of changes i n t h e 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 s e r v e banks d u r i n g the week and t h e y e a r ending February 8 , 1928, f o l l o w s : Increase or decrease Year Week Total reserves . Gold r e s e r v e s + + T o t a l 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 d i s c o u n t e d . . . . 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 i n d e b t e d n e s s . . — - - $i4,4oo,ooo 18,600,000 32,300,000 5,500,000 22,300,000 4,500,000 + 7,200,000 Total deposits . . . . . . . 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 . . . - 6,700,000 9,600,000 - + + + - 5,100,000 35.4oo,ooo 1,600,000 33,700,000 8,100,000 Federal reserve notes in c i r c u l a t i o n 2,400,000 during + + $163,200,000 162,800,000 241,100,000 79.700,000 96,100,000 - 16,4oo,ooo 4* 66,800,000 4- + 96,700,000 300,000 ii7.4oo.ooo - 21,000,000 - 109,900,000 + 4- + 178,100,000 173,900,000 3,000,000 Released f o r p u b l i c a t i o n ' r i a a y m o i l i n g , February 10, 1928j not tearlier St. 5575a RESOURCES AND LIABILITIES OF THE TULVD HliEBAL H2S~2V3 BA2TXS COISIIED ( I n thousands of d o l l a r s ) Feb. 8.19 28 Feb. 1.1Q28 Feb. q . i q 2 7 1,422,938 50,116 1,419,336 46,973 1,552,632 44,345 1,473,054 1,466,309 1,596,978 695,604 64s,933 697,839 634,830 772,410 T o tal gold r e s e r v e s Reserves o t h e r t h a n gold 2,817,591 167,474 2,798,978 171,652 2,980,352 T o tal r e s e r v e s Mon-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 d i s c o u n t e d 2,985,065 2,970,630 84,434 3,148,258 3 S SOURCE S Gold with F e d e r a l r e s e r v e a g e n t s Gold redemption f u n d with U.S. Treasury . Gold h e l d e x c l u s i v e l y g a i n s t F . i t . n o t e s Gold s e t t l e m e n t f u n d with F. E. Board . . Gold and gold c e r t i f i c a t e s h e l d by banks . 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 : . iionds Treasury n o t e s C e r t i f i c a t e s of i n d e b t e d n e s s . . . . . . . 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 . . . T o tal 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 resources . . . . . . . . . . . *79,007 610,964 167,906 7k,783 160,620 126,904 296,528 202,048 177,017 458,784 423,432 369,273 377,393> 379,065 302,505 298,164 61,901 56,443 210,765 233,082 133,678 433,661 500 1,234,986 568 134,131 401,339 500 1,229,896 sSg 583.12C 56,148 93,408 155,122 304,678 2,500 988,748 658 621,207 58,755 10,455 581,732 58,329 12,438 4,952,34*2- 4,931,035 4,864,946 F. R. n o t e s i n a c t u a l c i r c u l a t i o n . . . . Deposits: Member bank - r e s e r v e account . . . . . Government Foreign bank Other d e p o s i t s 1,584,183 1,576,935 1,694,120 2,395,037 26,385 5,151 2,221,130 18,601 2,404,673 24,006 5,045 18,178 Total deposits D e f e r r e d 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 2,445,174 2,451,902 2,267,046 TOTAL BESOURCES . 58,869 10,411 L I A B I L I T I E S . TOTAL LIABILITIES Ratio of t o t a l r e s e r v e s t o d e p o s i t and 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 f o r f o r e i g n correspondents C. 543,7^ \ 134,619 ^ , 573,990 134,440 23,345 4,959 17,612 538.629 233,319 233,319 10,399 125,825 228,775 10,551 4,952,1^ 4,981,035 4,864,946 11,098 74.1$ 238,821 73.7^ 79.5% 237,364 91,978 R E S O U R C E S ^SOURCES MD LIABILITIES OF THE EEJ3EBAL RESERVE BANKS ON FEBRUARY 8 . 1928. ( I n thousands of d o l l a r s ) Total SK Boston a g s ^ g - i i S i New York « Riila. Cleve. ct Rich. A t l a n t a Chicago S t . L o u i s « • » , - £ ».-s * Minn. Katis.Cy. D a l l a s San F r a n . 1 % % « Gold h e l d e x c l u s i v e l y a g a i n s t F s : ' n' notes 1.473.054 111.681 g g r - a . i a . ' g - s s Total fiold reserves Eeserves other than gold Total reserves Mlls°discounted: Secured by U S.Govt. obUgations 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 of i n d e b t e d n e s s T o t a l 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 securities Duo from foreign banks Uncollected items Bank premises All other resources TOTAL RESOURCES s % • '312,171 104.937 s a 182,843 46,521 a s ' a s l4i,o4y s a 232,232 33,492 50.528 55,261 31,736 170.615 a i & « ^-ss 2.817.591 l66,34g 1,033.126 162,395 265,719 75.910 159.486 420,007 64,864 167,474 l4, 7 60 32,593 11.757 12.359 11.013 14,805 21.210 15,235 76.129 2,985.065 181,109 1,065,719 174,152 278,078 86,923 1 74,291 441,217 80,099 80,833 100,34l 79,007 7,688 298,164 25,312 l6o,62Q 22,721 458,784 48,033 369,273 38,403 56.443 708 210,765 11,680 134,131 9.410 401,339 21,798 500 1,229,896 108,234 568 37 588LW 57.964 58,869 3.824 10,4ll 87 4 , 9 5 2 , ± 4 | 358,943 *•$> 93.351 63,366 236,889 4.704 6,990 10.351 11.697 73,717 248,586 4,769 1,130 2,428 3.325 4,517 98,808 34,630 31.976 7,871 5.208 31.853 8,639 834 6,824 1,348 44,86l 26,938 11,923 12,585 19.048 20,466 18,094 9,851 1,457 6,315 1,808 9^4i4 125,746 46,553 44,561 26,919 25,674 49,947 18,490 2,291 13,139 125,746 3.156 54,275 95.503 30,695 34.067 24,590 11,822 52,962 14,742 13,520 14,565 16,639 21,765 95.503 27,198 3.384 40,171 32,563 75.918 2 '4^ 8,350 4,4 7 4 585 755 8.297 37.669 5,981 11.316 1.153 4,o4o 3,255 8,448 7.125 4.499 10,390 7.820 53 17,202 8,902 11,068 10,391 22,650 7,592 4,707 8,711 6,6l4 io,4so 9,983 62,385 31,919 18,108 30,169 24,825 33,183 500 47,479 165,294 65,151 34,419 57,873 44,620 109,223 4,863 49,740 ~ 297.167 112,111 128,368 59.957 - 2l6 46 149,275 49,115 16,516 1,756 2,545 201 1,558,636 8,162 4,532 44 19.927 5.202 23,493 4,737 18.965 51,981 49,323 25,227 69,356 6,865 2,894 2,829 8,619 1,273 21 i9"*1 13 3 1 . W 11.370 3.891 2,202 734 1,012 207,876 255.686 693.989 1 8 5 ^ 130,979 51 25 21 68 1,108 4o4 1,365 339.815 470,983 18 17 35 33,834 1,791 3,374 527 633 36.100 23,611 4,308 522 201.590 147,608 400,202 St. 5075c RESOURCES MD LIABILITIES 0 ? THE FEDERAL RESERVE BASKS ON FEBRUARY 3 , 1928L I A B I L I T I E S (In thousands of dollars) Total Boston Hew York Fhila. Cleve. Rich.Atlanta Chicago St.Louis Minn. Kans.Cy. D a l l a s San F r a n . 1,584,183 122,574 342,996 120,383 195,122 67,061 144,494 230,027 52,739 55,924 61,124 39,267 152,472 F.B.notes in actual circulation Deposits: Vember bank - reserve account 2.395.037 150,216 (government 26,385 2,106 Foreign bank 5.151 344 Other deposits 1 8 , 6 0 1 ^ 195 Total deposits 2,445,174 152,861 Deferred availability items 543TW 55,762 Capitol paid in 134,619 9,390 foreign "bank 233,319 17,893 11.098 %3 All other l i a b i l i t i e s TOTAL LIABILITIES 4,952,14a 358,943 Reserve ratio (pejr cent) 7 U -s;i65-8 Contingent l i a b i l i t y on b i l l s purchased for foreign correspondents 238,821 17,790 P.B.notes on hand (notes ree'd from i- .R.Agent l e s s notes in circulation)436,715 31,329 91,947 70,365 181,391 1,014 7*46 300 161 326 165 J65.. _ I L 5,06.5 93,891 71,349 187,082 32,779 23,829 34,263 4,251 4,265 9,474 9,p46 8,527 16,629 4qq 371 201,590 147,608 400,202 66.6 73.2 64.7 6,4o4 8,539 8,302 16,841 956,368 136,111 184,369 73,338 68,468 345,1(68 84,624 52,372 916 12,833 1,298 785 993 2,425 1,949 1,020 1,856 436 477 234 193 638 209 9,258 317 1,105 134 123 1,005 980,315 138,162 186,736 74,699 71,209 349,060 86,189 53,6a 10,552 127,653 45,957 49,615 146,697 24,432 61,740 3,025 41,910 13,226 14,218 6,2^48 5,176 18,097 63,007 21,662 24,021 12,324 9,996 32,778 10,397 7,039 818 2,755 425 1,271 847 379 2 ^ L 1,558,636 339,815 470,983 207,876 255,686 693,989 I85r&5 130,979 80.5 67.4 72.8 61.3 80.8 76.2 57.7 I 73.8 68,511 22,534 24,669 12,097 9,963 32,971 10,200 130,934 43,493 36,432 21,800 31,647' 47,394 7,364 4,758 8,309 9,365 63,885 FEDERAL RESERVE BOTE ACCOUNTS OF FEDERAL RESERVE AGENTS JFJ3. notes ree'd from Comptroller 2,910,017 231,923 sVB. notes held by F. E. Agent 889,119 78,020 2,020,893 153,903 F.E.notes issued to F.R.Bank Collateral held as security for J1.B.notes issued to F.R.Bank: Gold and gold certificates 4i4,44l 35.300 98,023 11.336 Gold redemption fund 910,474 58,000 Gold fund - F.R. Board 805,059 86,436 Eligible paper Total collateral 2,227,997 191.072 B i l l s discounted B i l l s bought in open market Certificates indebtedness 766,010 195,231 276,234 n4,46o 230,221 459,920 76,873 si,771 108,253 69,264 299,357 292,080 31,350 44,680 25.599 54.080 182.4qq 16.770 21.089 38.820 20.632 83.500 473,930 163,331 231,554 88,861 176,l4l 277,421 60,103 60,682 69,433 48,632 216,357 17,303 to,000 8,900 14,167 42,600 31,021 20,000 1.168 1,938 3,757 4,159 15,476 18,995 12,354 12,942 7,051 6,992 1.855 20,500 32,000 48,860 9,000 112,337 75,000 85,777 125,000 6,500 112,500 225,000 205,150 - 46.353 37.011 102,726 33.017 1 5 . 5 1 7 27.522 19.6ll 75.909 510,838 169,022 253,915 90,925 176,503 329,581 63.585 63,622 80.139 50,073 243,722 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS 211.693 70.891 78,373 Total Within 15 days l6 to 30 days 458,784 369.273 134,131 385,943 19,353 69.436 112,598 Over 6 months 31 to 60 days 61 to 90 days 91 27,125 111,343 20,419 19,876 70,974 5,103 1,384 78,845 34,867 4,922
@FedFRASER