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. / Released, f o r p u b l i c a t i o n Friday morning, P e t . 17; not e a r l i e r . S$AI2L-MT FOE THE FHSSS f: / ? / ^ ^ St, 5684* Federal .Reserve Board, February l 6 , 1928» CONDITION OF FEDERAL RESERVE BANES The consolidated statement of condition of the Federal reserve t a n k s on February 15, made public "by the Federal Reserve Board, shows i n c r e a s e s of $22,300,000 i n holdings of discounted "bills, $7,100,000 i n Government s e c u r i t i e s , and $2,000,000 i n Federal reserve note c i r c u l a t i o n , and decreases of $14,500,000 i n "bills "bought i n open market, $3,900,000 i n member "bank reserve d e p o s i t s , and $4,300,000 i n cash r e s e r v e s . Total "bills and s e c u r i t i e s were $14,900,000 above the amount h e l d a week ago. The p r i n c i p a l changes i n holdings of discounted b i l l s were i n c r e a s e s of $28,100,000 at the Federal Reserve Bank of Hew York, $11,900,000 at P h i l a d e l p h i a , and $3,800,000 at St. Louis, and a decrease of $15,100,000 at Boston, The System's holdings of b i l l s bought i n open market decreased $14,500,000, while holdings of United States bonds i n c r e a s e d $1,000,000, of Treasury notes $2,900,000, and of c e r t i f i c a t e s of indebtedness $3,200,000. Federal reserve note c i r c u l a t i o n was $2,000,000 l a r g e r than a week ago, the p r i n c i p a l changes being i n c r e a s e s of $4,300,000 each a t Hew York and P h i l a d e l p h i a , and a decrease of $3,600,000 at A t l a n t a . A summary 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 reserve banks during the week and the year ending February 15, 1928, follows: Increase or decrease Week during Year Total reserves Gold reserves - $4,300,000 - 4,000,000 - $177,300,000 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, o b l i g a t i o n s . Other b i l l s discounted . . . . . . + + + + + 219,500,000 + 84,600,000 + 58,800,000 4,200,000 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 , . . 14,900,000 22,300,000 20,000,000 2,300,000 176,400,000 - 14,500,000 + 39,800,000 ,+ 7,100,000 + 1,000,000 + 2,900,000 + 3,200,000 + + 96,600,000 100,000 Federal reserve notes i n c i r c u l a t i o n . + Total deposits . . . . . . . . . . Members' reserve deposits . . . . . Government deposits - 1,400,000 - 3,900,000 + 100,000 - 2,000,000 + 118,900,000 22,400,000 - 99,200,000 + 101,400,000 + 102,600,000 2,100,000 Released, f o r publication Friday morning,February 17. 1928; not e a r l i e r . , . ' St. 5®84e RESOURCES A5D MOBILITIES OF THE TWELVE FEDERAL RES3RVE BANKS COMBINED ( i n thousands of d o l l a r s ) Feb. 15.1928 RESOURCES Gold with Federal reserve agents . . . . Gold, redemption fund with U.S. Treasury Gold h e l d 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 held "by banks Total gold r e s e r v e s . . . . . Reserves other than gold . . . . . . Total r e s e r v e s 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 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 . Du.e from f o r e i g n banks Uncollected items . . Bank premises . . . All other resources . 1,366,926 45,898 1,,412,824 763,847 636,961 2,813,632 167,179 2,980,811 76,242 Feb. 8.1928 Feb. 16.1927 1,422,938 50,116 1,547,671 1,473,054 695,6o4 648,933 2,817,591 167.474 1,592,199 616,854 781,010 2,990,063 168,013 3,158,076 74,980 2,985,065 79,007 44,528 458,784 369,273 229,354 167,116 396,470 314,985 57,434 213,704 137,295 56,443 210,765 134,131 57,370 94,807 159,646 408,433 500 1,244,810 401,339 500 311,823 2,000 1,229,896 1,025,278 318,181 162,909 481,090 354,787 568 298,164 160,620 568 658 772,437 59,051 10,839 5,144,758 10,411 58,869 798,547 58,350 12,322 *4,952,899 5,128,211 . . . 1,586,195 1,584,183 1,685,431 . . . 2,391,150 2,395,037 26,385 5,151 2,288,588 28,521 5,388 19,846 2,445,174 2,342,343 734,963 TOTAL RESOURCES '. . . *589,083 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 - reserve account . Government Foreign bank Other deposits Total de-posits 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 26,457 . . . . • • • • • • • . 4,844 21,308 2,443,759 734,306 135,877 233,319 11,302 5,144,758 18,601 *544,506 134,619 233,319 11,098 126,099 *4,952,899 5,128,211 228,775 10,600 Ratio of t o t a l r e s e r v e s to deposit and F. R. note l i a b i l i t i e s combined . . . 74.0$ 74.1$ 78.4# 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 . . . . . . 241,697 238,821 92,329 0, •Revised f i g u r e s . RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON FEBRUARY 15, 1928. St. 5684b RESOURCES ( i n thousands of d o l l a r s ) Total Boston Hew York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gojd r i t h Federal Reserve Agents 1,366,926 102,918 259,095 86,244 179,875 48,653 138,503 22b,808 26,772 48,105 5115^0 31,915 166,498. Gold redemption fund with U.S.Treas. 45,898 2,883 11,171 8,254 3.387 1,634 2,227 2,$65 2,470 2,107 2^8 1,48 2 3,060 Gold held exclusively against r . notes 1,412,824 105,801 F. s e t t l e m e n t fund with F.R.Board 7 6 3 , 8 4 7 42,880 k^old and gold c e r t i f . held "by banks 6 3 6 , 9 6 1 3 0 . 3 7 6 Total gold reserves 2,813,632 179,057 Reserves other than gold 167.179 14,634 Total reserves ion-reserve cash 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. Govt, s e c u r i t i e s ^ther securities Total b i l l s and s e c u r i t i e s IlirT TOI.il BSSOOKCES 270,266 319,990 4o4,7^K) 994,996 3 2.l6l 2,980,811 193,691 1,027,157 76,242 7,681 24,298 : & s ;;•% 431,090 32,956 34,426 354,787 57,434 213,704 137,295 408,433 500 1,244,310 94,498 36,004 23.93 5 154,437 11.194 50,287 140,730 230,773 29,242 50,212 54,798 33,397 169,558 38,498 20,810 8 , 3 6 3 154,600 23,866 21,842 32,064 23,939 J[0»991 42,283 1 0 , l 6 8 7.259 55,121—12>5^4 4,924 7,233 3,127—30,lql „ 264,043 8 1 , 2 6 5 1 5 6 , 3 5 2 440,494 6 5 , 6 9 2 76,978 94,145 6 5 , 4 6 3 2140,710 13.718 11.132 15.291 20,287 14,923 *L_7I5 6,852 10,272 11,980 183,262 277,761 92,397 171,643 460,781 2,559 5.079 7,940 4,510 8,091 165,631 S : S a 53,409 32,430 46,054 31,946 25.319 21,344 21,798 3,384 585 755 42,171 13,297 37,669 35,063 15,981 11,316 80,618 34,863 49.740 1.153 4,o4o 3.255 8,448 89,180 330,824 125,702 127,740 55,m 708 11,630 9,410 153,810 96,396 il-lil-li s 5,144,758 357,846 1,625,541 368,562 485,545 , 80,615 4,718 75.735 3.369 252,690 i : S 4,432 a ; IS a s 3,232 12,449 11,123 13,892 3,771 14,622 4,519 10,390 7,125 25 20,917 8,909 11,167 5.197 24,338 17,203 8,711 4,697 19,270 . L 5 2 L . 4,707 9,919 64,525 31,919 18,135 30,268 500 7,820 10,383 6,814 10.480 25,017 33,183 s S ' H 25,477 11,302 47,765 45,106 46,698 157,396 209,280 255,727 H-.SU 81,713 100,997 1,033 2,532 22,309 • 14,836 69,064 34,3l6 738,141 193.361 133,940 50,865 26,038 53 22,650 55,283 43,410 110,086 201,607 158,096 417,112 St. 5684c RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON FEBRUARY 15, 1928. ( i n thousands of d o l l a r s ) L I A B I L I T I E S Cleve. Rich.Atlanta Chicago St.Louie Minn. Kans.Cy. Dallas San Fran* Total Boston New York Phila. 347,293 124,639 193,771 6 6 , 1 7 6 140,889 2 3 1 , 5 2 0 5 2 , 8 0 6 56,275 60,661 3 8 , 1 9 5 1 5 2 , 6 0 1 1,586,195 121,369 F.R.notes i n actual c i r c u l a t i o n Deposits: 70,857 350,085 8 6 , 2 7 2 52,490 9 0 , 6 0 5 71,459 186,229 9 4 2 , o 4 o 137:4536 1 8 4 , 6 2 4 72,323 2,391,150 146,630 Member bank - reserve account 1,276 3,673 738 1,273 1,866 2,859 1,502 3,338 1 , 6 0 8 2,511 3,364 26,457 2,449 Government l 6 l 326 124 1 6 5 193 638 197 4,844 344 .1,549 436 477 234 Foreign "bank 101 727 363 4,372.. 120 1,158 355 12,806 63 923 139 21,308 181 Other deposits 2,443,759 l 4 9 , 6 o 4 959,733 1 3 9 , 6 4 3 188,535 7 6 , 0 6 0 7 3 , 0 3 6 3 5 4 , 7 4 0 8 8 , 3 2 6 53,715 92,770 72,997 194,600 Total deposits 734,306 59,094 210,379 6 8 , 9 3 2 6 3 , 6 9 6 4 7 , 6 4 8 2 6 , 2 6 0 97,753 35,779 13,07% 3%,4o4 33,753 43,534 f e r r e d a v a i l a b i l i t y items 3,027 4,248 4,265 9,475 5,181 19,100 5,340 135,877 9,468 42,098 13,227 14,202 6,246 Capital paid i n 7,039 9,046 8 , 5 2 7 1 6,629 9,996 32,778 10,397 233,319 1 7 , 8 9 3 63,007 21,662 24,021 12,324 Surplus : 810 . 478 359 271 365 2,2% 713 11.302 418 3,031 459 1,320 826 All other l i a b i l i t i e s 5 , 1 4 4 , 7 5 8 357,846 1 , 6 2 5 , 5 4 1 3 6 8 , 5 6 2 485,545 2 0 9 , 2 8 0 2 5 5 , 7 2 7 738,l4l 193,36i 1 3 3 , 9 4 0 2 0 1 , 6 0 7 1 5 8 , 0 9 6 417,112 TOTAL LIABILITIES 68.1 72.8 74.3 65.8 65.0 80.2 78.6 57.1 62.7 78.6 72.7 74.0 71.5 Reserve r a t i o (per cent) Contingent l i a b i l i t y on b i l l s pur6,484 8,64-5 8,405 17,051 22,814 2 4 , 9 7 6 12,248 1 0 , 0 8 6 33,381 10,327 69,269 2 4 1 , 6 9 7 18,011 chased f o r foreign correspondents F.R. notes on hand (notes r e c ' d from 9,889 62,441 7,156 7,101 4,962 129,480 3 6 , 6 0 5 3 3 , 7 1 7 2 2 , 1 6 6 3 3 , 4 0 3 4 6 , 0 2 2 F.R.Agent l e s s notes i n c i r c u l a t i o n ) 422,858 29,916 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 759,493 192,594 273,568 113,941 233,732 458,342 7 6 , 6 7 7 81,771 107,177 68,716 298,542 F.R. notes r e c ' d from Comptroller 2,897,758 233,205 282.720 31.350 46,080 25.599 "59.440 180.800 16.770 20,534 3 9 J 6 0 . 20.632 83.500 888,705 81,920 F.R. notes held by F. R. Agent 2,009,053 151,285 4 7 6 , 7 7 3 161,244 2 2 7 , 4 6 8 8 8 , 3 4 2 1 7 4 , 2 9 2 277,542 59,907 6 1 , 2 3 7 6 7 , 8 1 7 4 8 , 0 8 4 215,oUe F.R.notes issued to F.R.Bank Collateral held as security f o r F.R.notes issued to F.R.Bank: 17,303 40,000 9,300 14,167 4 2 , 6 0 0 31,020 20,000 205,150 4i4,s4o 35,300 Gold and gold c e r t i f i c a t e s 4,612 15,260 2,680 1,938 972 6,133 5,503 1,808 9,717 12,275 18,945 Gold redemption fund 99,461 19,618 10,000 111,238 48,860 3 2 , 0 0 0 16,500 11,500 113,000 225,000 35,000 7 6 , 5 2 7 1 2 5 , 0 0 0 852,625 48,000 Gold fund - F.R.Board 18.193 75.611 36.952 15,426 24,829 43.098 36,137 92,732 240,871 80,557 77,817 809,605 67,382 E l i g i b l e paper 499,966 166,801 257,692 91,751 1 7 4 , 6 4 0 3 1 9 , 5 4 0 6 3 , 7 2 4 63,531 7 6 , 3 6 9 50,108 242,109 2,176,531 170,300 Total c o l l a t e r a l MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS . , 91 days to Over 6 months Within 15 days l6 to 30 days 31 to 60 days 61 to 90 days g months Total 1,542 412,890 17,033 25,345 19,730 4,550 481,090 B i l l s discounted 4,368 111,592 71,103 115,829 51,895 354,787 B i l l s bought in open market 40,203 80,951 700 1 5 , 4 4 1 • 137,295 C e r t i f i c a t e s of indebtedness
@FedFRASER