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STATEMENT FOR THE PRESS Released f o r p u b l i c a t i o n F r i d a y morning, Feb. 11; not e a r l i e r . S t . 5264 F e d e r a l Reserve Board February 10, 1927. CONDITION OF FEDERAL RESERVE BANKS 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 hanks on February 9, made p u b l i c by the F e d e r a l Reserve Board, shows a d e c l i n e of $#0,000,000 i n b i l l and s e c u r i t y h o l d i n g s , a s compared w i t h an i n c r e a s e of $56,500,000 t h e week b e f o r e , a d e c l i n e of $20,800,000 i n member bank r e s e r v e d e p o s i t s , and i n c r e a s e s of $19,600,000 i n cash r e s e r v e s and $7,600,000 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 . Holdings of d i s c o u n t e d b i l l s d e c l i n e d $14,200,000 and of a c c e p t a n c e s purchased i n Open market $26,600,000, while Government s e c u r i t y h o l d i n g s show a small i n c r e a s e . A l l of t h e F e d e r a l r e s e r v e banks show s m a l l e r d i s c o u n t h o l d i n g s except New York, which r e p o r t s an i n c r e a s e of $20,200,000, t h e p r i n c i p a l r e d u c t i o n s b e i n g : Chicago $7,900,000, San F r a n c i s c o $7,700,000, Cleveland $5,000,000, and A t l a n t a $3,600,000. The i n c r e a s e i n d i s c o u n t h o l d i n g s a t t h e New York bank was more t h a n o f f s e t by a d e c l i n e of $21,300,000 i n open-market acceptance h o l d i n g s . The System'-s h o l d i n g s of TJ. S. bonds were $2,800,000 above and of Treasury n o t e s and c e r t i f i c a t e s $2,000,000 below t h e p r e c e d i n g w e e k ' s t o t a l s . The p r i n c i p a l changes 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 d u r i n g t h e week comprise r e d u c t i o n s of $3,800,000 and $3,000,000, r e s p e c t i v e l y , a t t h e New York and Boston b a n k s , and i n c r e a s e s of $4,200,000 a t San F r a n c i s c o , $4,100,000 a t Cleveland, and $3,200,000 a t A t l a n t a . 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 during the week and t h e y e a r ending February 9, 1927, f o l l o w s : Increase or decrease Week Total reserves Gold r e s e r v e s . . . . . + $19,600,000 + 18,500,000 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 . . . . . . . . during Year + $209,000,000 + 185,600,000 40,000,000 14,200,000 1,500,000 12,600,000 - 188,700,000 154,300,000 108,000,000 46,300,000 B i l l s bought i n open market - 26,600,000 + 2,000,000 U. S. Government s e c u r i t i e s , t o t a l . . Bonds 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 + + + - 800,000 2,800,000 100,000 2,100,000 + 23,500,000 3,500,000 75,300,000 50,300,000 Federal reserve notes in c i r c u l a t i o n . . + 7,600,000 + 26,300,000 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 - 31,200,000 20,800,000 9,400,000 - 29,100,000 17,900,000 5,800,000 He l e a s e d f o r p u b l i c a t i o n Friday morning, February 11, 1927; not e a r l i e r . St. 5264a RESOURCES A2D LIABILIIIES OF THE TWELVE FEDERAL RESERVE B.OTS COMBINED ( I n thousands of d o l l a r s ) Feb. 9,1927 Feb 2,1927 Feb. 10.1926 RE S 0 U 3 C E S Gold with Federal r e s e r v e a g e n t s Gold redemption fund w i t h U. S. Treasury . . 1,552,632 44,346 Gold h e l d e x c l u s i v e l y a g a i n s t F.R. n o t e s . Gold s e t t l e m e n t f u n d 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 . . 1,596,978 610,964 772,410 Total gold r e s e r v e s Reserves o t h e r than gold 2,980,352 Total r e s e r v e s Hon-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 3,i48,258 74,783 167,906 Total 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 T J. S. Government s e c u r i t i e s : Bonds 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 Foreign loans on gold 52,926 1,605,680 594,679 761,504 2,961,863 166,786 3,128,649 71,849 TOTAL RESOURCES . . . . . . . 51,702 1,484,851 650,304 659,638 2,794,793 144,422 2,939,215 64,425 203,661 189,610 310,096 223,276 379,065 302,505 393,271 329,072 533,372 300,519 56,148 93 ( 4o8 155,122 53,351 93,320 157,208 168,673 304,678 303,879 2,500 - 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 r e s o u r c e s 1,433,149 202,048 177,017 2,500 . . . . . . 1,552,754 59,639 104,842 333,154 3,150 7,299 988,748 658 581,732 58,329 12,438 1,028,722 1,177,494 657 636,827 58,269 12,195 613,554 59,366 16,973 4,864,946 4,937,168 4,871,687 1,694,120 1,686,515 1,667,844 2,221,130 23,3% 4,959 17,612 2,241,946 2,239,050 4,866 9,252 18,648 66o L I A B I L I T I E S 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 . . . . . Total d e p o s i t s Deferred a v a i l a b i l i t y items C a p i t a l paid i n Surplus A l l other l i a b i l i t i e s TOTAL LIABILITIES . 2,2o7,04b 538,629 125*,825 228 ,'7 75 1(5,551 4,864,946 32,768 29,151 18,631 2,298,211 2,296,101 587,680 125,748 228,775 556,961 118,411 220,310 4,937,168 4,871,687 10,239 12,060 R a t i o 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 . . . . . 79.5^ 73.5$ 74.2# 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 91,978 77,780 84,656 RESOURCES RESOURCES M B LIABILITIES OF THE FEDERAL RESERVE BAMS ON FEBRUARY 9, 1927. ( I n thousands of d o l l a r s ) Boston jtfew York Phila. Cleve. Gold w i t h F e d e r a l Reserve Agents 127,504 Gold redemption f u n d with TJ.S.Treas. 7,058 383,982 111,460 166,253 10,783 4,428 3,474 Gold h e l d e x c l u s i v e l y a g a i n s t ? . R. n o t e s 134,562 Gold s e t t l e m e n t f u n d with F.R.Board 28,863 Gold and gold c e r t i f . h e l d "by banks 33,526 394,765 159,370 502,878 Rich. A t l a n t a Chicago S t . L o u i s 65,177 150,375 177,636 1,094 2,l4o 7,243 35,^88 183,289 1,552,632 1,148 2,288 44,346 115,888 169,727 66,271 152,515 184,879 32,445 62,113 52,371 66,045 23,719 26,212 125,423 20,297 15,500 7,24i 27,934 51,352 12,685 4,428 63,383 17.970 196,193 287,124 102,675 183,155 373,685 70.712 84,854 61,600 29,968 7.254 36,636 185,577 1,596,978 610,964 20,942 42,254 772.410 8,597 35,162 98,822 5.583 66,175 262,993 10.314 11.598 T o tal r e s e r v e s ^ion-re serve cash B i l l s discounted: 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 215,836 1,092,002 203,136 297,438 1,961 3 . 4 4 i 25,502 7,519 114,273 21,590 29,189 T o tal 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 : 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 T o t a l 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 T0T.1L RESOURCES c. 34,989 10,340 13,547 73,025 23,907 23,887 38,464 769 6,943 19.038 194,963 401,463 460 24,372 35,222 33,834 7,007 4.671 454 3,375 2,396 5,639 492 2,330 14,887 18,399 202,048 177,017 24,832 69,056 41,363 3,829 10,138 8,035 15,768 2,822 14,932 11,678 11,262 33.286 26,282 379.065 302,505 257 22,242 7,723 18,391 3,193 7,958 9,966 7,783 2,449 8,641 5,366 13,561 6,212 5,071 12,932 823 16,860 a,IB 56,148 93,408 155,122 48,356 21,117 16,481 500 27,568 24,215 38,874 304,678 30,948 51,371 34,418 48,630 22,733 26,757 21,660 10,631 2,708 708 6,137 2,683 14,489 36,946 1,499 11,846 21,987 1,338 1,649 4,073 9.6l4 54,118 35,332 7,060 1,566 192 2,015 2.000 — 53,960 3,9^6 72 658 136,514 16,276 2,358 — 50,543 1,709 357 — 55,230 7,118 964 353,298 1,495,776 336,785 474,910 88,930 104,405 74,668 271,394 3,148,258 2,66s 3,588 74,783 2,450 1,371 6,986 96,932 71,416 79,079 110,719 8.493 10,124 14,674 222,466 4.076 4,704 6,763 19,441 15,723 3,497 19,928 27.778 11.808 2,980,352 167.906 8.401 89,750 4,692 12,828 71,965 Total 59,935 1,665 196,951 1,057,013 18,885 Minn. &ans.Cy. D a l l a s San Fran. 60,633 1,480 T o t a l gold r e s e r v e s Reserves o t h e r than gold 30,900 1,545 St. 5264b 39,351 41,779 158,775 — — 26,133 69.678 2,136 2,865 7,899 2,608 294 740 50,996 213,813 271,184 44,057 — 30,540 3,957 787 650,547 173,783 6,249 — 10,492 2,774 2.091 — 12,759 2,500 — 39,796 98,442 - - - 37,489 4,459 541 24,218 1,752 484 136,606 200,715 143,586 35,939 3,438 1,142 988,748 65s 581,732 58,329 12,438 413,943 4,864,946 S t . 5264c EE SOUECS S AND LIABILITIES OF THE FEDERAL RESERVE BANKS OH FEBRUARY 9, 192?. ( i n thousands of d o l l a r s ) L I A B I L I T I E S Boston 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 Total deposits Deferred a v a i l a b i l i t y items Capital paid in Surplus 111 o t h e r l i a b i l i t i e s TOTAL LIABILITIES Reserve r a t i o ( p e r c e n t ) Contingent 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 c o r r e s p o n d e n t s F . R . n o t e s on hand ( n o t e s r e e ' d from F.R.Agent l e s s n o t e s i n c i r c u l a t i o n ) New York Phila. Cleve. Rich. A t l a n t a Chicago St.Louis Minn. Kans.Cy. D a l l a s San Fran. Total 125,871 1402,947 119,253 200,044 74,801 160,702 213,538 45,359 64,403 68,683 43,033 175,486 1,694,120 144,360 858,820 134,548 184,049 69,974 67,678 315,590 80,536 49,684 84,612 60,855 170,424 2,221,130 2,602 283 3,650 1,707 1,434 4oo 1,079 196 147,356 874,184 136,703 186,796 53,325 117,695 46,678 49,447 8,851 37,059 12,585 13,762 17,606 6l,6l4 21,267 23,746 289 2.277 299 1.115 353,298 1,495.776 336,785 474,910 79.0 85.5 79-4 76.9 6,878 25,672 8,804 9,721 71,382 48,524 6,178 12,198 730 213,813 78.2 32,520 2,232 362 86 1,762 155 5,350 520 1,189 113 1,079 l4o 69,677 322,321 82,293 51,171 25,730 63,607 30,131 9,527 5,022 16,832 5,282 3,026 9,632 31,881 9,939 7,527 421 2,368 779 952 271,184 650,547 173,783 136,606 84.6 74.9 70.3 76.9 4,769 3,760 12,656 3,944 2,751 85,933 32,378 4,180 9,029 512 200,715 67.5 3,393 117,034 44,207 20,461 17,645 27,031 50,147 1,309 162 4,236 5,014 13,579 1,445 132 739 264 23,345 4,959 62,466 176,764 2,267,046 25.135 36,452 538,629 4,299 8,749 125,825 8,215 16,121 228,775 ILL- 10,551 438 143,586 413,943 4,864,946 70.8 77.0 79.5 3,210 6,420 91,978 6,774 44,007 382,655 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS ~F, 1 . n o t e s r e e ' d from Comptroller F. R. n o t e s h e l d by F. R. Xgent F.R. n o t e s i s s u e d t o F. R. Bmk Collateral held as security f o r F.R. n o t e s i s s u e d t o F.R. Bank: Gold and g o l d c e r t i f i c a t e s Gold redemption f u n d Gold f u n d - F. R. 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 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 n e s s C. 254,391 96,000 158,391 35,300 18,204 74,000 62,351 189,855 812,061 198,960 277,245 118,800 250,177 428,486 71,255 88,819 110,272 68,604 268,993 2,948,063 292,080 35,500 56,740 26,354 62,444 164.801 21.660 19.402 28.010 18.797 49.500 871,288 519,981 163,460 220,505 92,446 187,733 263,685 49,595 69,417 82,262 49,807 219,493 2,076,775 8,780 210,080 22,902 11,583 12,473 151,000 99,877 145,000 160,909 53,450 74,710 544,891 164,910 240,963 28,805 15,397 7,750 13,507 18,308 20,000 357,927 5,372 8,978 2,636 1,850 1,126 5,075 3,180 16,365 109,744 31,000 126,000 175,000 21,300 46,000 54,860 14,000 146,924 1,084,961 30.877 39.335 110.203 22.709 13,635 23,687 15.530 59.323 666.719 96,054 189,710 287,839 53,609 74,268 83,622 51,018 242,612 2,219,351 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS Within 15 days l6 t o 30 days 31 t o 60 days 286,204 137,494 26,493 95,699 36,305 48,816 6l to 90 days 21,670 15,775 5,421 91 days t o 6 months 6,847 4,721 105,017 Over 6 months 1,546 44,684 Total 379,065 302,505 155,122
@FedFRASER