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' -4; • Released f o r publication Friday morning, Feb. 26; not e a r l i e r . STATEMENT FOR THE PRESS St. 4857 Federal Reserve Board, February 25, 1926. CONDITION OF FEDERAL RESERVE BANKS The consolidated statement of condition of the Federal reserve banks on February 24, made public by the Federal Reserve Board, shows an increase of $18,200,000 in Federal reserve notes in c i r c u l a t i o n and declines of $0,400,000 in member banks' reserve deposits and $2],600,000 in cash reserves. Total holdings of b i l l s and s e c u r i t i e s remained p r a c t i c a l l y unchanged, holdings of discounted b i l l s having increased $1,700,000 and of acceptances purchased % open market $2,500,000, while Government security holdings declined $1,900,000. Discount holdings of the Federal reserve bank of Chicago declined $7,900,000, while those of the Boston bank increased. $7,200,000 and those of §4° Francisco $2,900,000. Only r e l a t i v e l y small changes are reported in holdings of acceptances bought in the open market. J A decrpase of $9,200,000 in holdings of Treasury c e r t i f i c a t e s of indebtedness was p a r t l y o f f s e t by increases of $5,100,000 and $200,000 , respectively, In holdings of Treasury notes and U. S. bonds. The principal changes in Federal reserve note c i r c u l a t i o n during the woek were increases of $g;.600,000 and $7,700,000, respectively, reported by the Cleveland and Boston reserve banks. A summary of changes in the principal 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 24, 1926, follows: Increase or decrease during . Week Total reserv3s Gold reserves . . . . . . $23,600,000 . . . . . . . . . . . - 22,700,000 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, obligations . . Other b i l l s discounted . . . , . ;• + Year - $113,000,000 - 127,000,000 509,000 1,700,000 4,400,000 6,100,000 + 55,300,000 + 106,300,000 + 28,200,000 + 78,100,000 ' . . . . + 2,500,000 - 13,100,000 U. S. Government s e c u r i t i e s , t otal . Bonds + Treasury notes C e r t i f i c a t e s of indebtedness . . . - 3,900,000 200,000 5,100,000 9,200,000 + 3^,100,000 15,600,000 88,500,000 70,000,000 Federal reserve notes in c i r c u l a t i o n . + 18,200,000 - 49,400,000 Total deposits . Members' reserve deposits Government deposits . . » . . . . . + 7,400,000 5,500,000 10,000,000 B i l l s bought in open market C. - 64,300,000 59,^00,000 3,300,000 % Released f o r p u b l i c a t i o n Friday morning, February 26, 1926; not e a r l i e r . St. 4857a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANK'S COMBINED (In thousands of dollars) Fab. 24, 1926 Feb. 17, 1926 Feb. 25, 1925 RESOURCES Gold with Federal reserve agents . . . . 1,406,149 1,397,96? 1,603,443 Gold redemption fund with U. S. Treasury 46,334 45,009 44,486 Gold held exclusively against F.R.notes 1,452,483 1,442,976 1,647,929 Gold settlement fund with F. R. Board . 674,072 688,12b 668,619 Gold and gold c e r t i f i c a t e s held by banks 640,048 658,194 577,029 Total gold reserves Reserves other than gold Total reserves . . . . Non-reserve cash . . . . B i l l s discounted: Secured by U. S. Government obligations Other b i l l s discounted Total b i l l s discounted . . . . B i l l s bought in 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 Foreign loans on gold Total b i l l s and s e c u r i t i e s . . . Due frem f o r e i g n banks Uncollected items Bank premises . . . . All other resources TOTAL RESOURCES . . . . L I A B I L I T I E S F. R. notes i n actual c i r c u l a t i o n . . . Deposits: Member bank - reserve account . . . . Government . . . . . . Foreign bank Other deposits 2,766,603 149,907 2,759,296 150,860 2,393,577 135,968 2,916,510 d,940,156 3,029,545 66,298 69,032 55,533 311,570 228,513 540,083 304,128 315,972 222,386 538,355 301,641 283,332 150,473 433,805 317,246 60,213 174,954 95,418 33^,585 3,150 7,100 1,185,046 780 a 697,42S Z 59,368 17,008 59,97S 169,863 104,605 33^,446 3,150 7,000 1,184,595 7 25 759,089 59,368 16,786 75,780 263,445 25,469 3^4,69I+ 10,500 3,4-52 1,129,697 642 644,454 58,332 23,808 4,942,43^^ 5,029,751 4,942,011 1,679,362 1,bbl,143 1,728,752 2,262,258 39,929 6,851 17,480 2,208,405 26,673 15,759 18,799 2,202,879 36,670 5,450 17»232 * Total deposits . . . . . . . . . Deferred a v a i l a b i l i t y items . . . . . . Capital paid in Surplus All other l i a b i l i t i e s 2,262,231 648,557 & 119, 312^ 220,310 ? 12,666^ 2,326,518 c90,86b 118,93^ 220,310 11,980 2,269,636 601,04l 113,596 . 217,837 11,149 TOTAL LIABILITIES Ratio of t o t a l reserves to deposit and F. R. note l i a b i l i t i e s combined . . . 4,942,439 / "? 5,029,751 4,942,011 Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents . . . . . C. 74.0$ 73*7$ 75*8$ 82,168 82,666 45,494 DTOftriB/iro RESOURCES RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON FEBRUARY 24, 1926. St. 4857b (In thousands of d o l l a r s ) Boston New York P h i l a . CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total Gold r e d e m p t i o n l u n d ^ t h ^ r e a s ^ ^ Gold held exclusively a g a i n s t F. R. notes 112,615 312,346 130,812 192,4?6 61,12? 133,92? 134,002 16,919 62,081 52,053 26,852 217,273 1,452,483 l2lal__gold reserves Reserves other than gold 886,332 201,559 305,345 40,558 5,018 7,445 94,316 171,682 352,411 7,252 9,206 21,544 46,225 92,773 17.132 2.670 84,369 4.584 52,029 2?6,^00 2,766 6O3 6.341 7.715 l4q.Q07 926,890 206,577 312,790 101,568 180,888 373,955 23,568 2,444 2,926 4,805 4,218 10,375 63,357 3,642 95,443 971 88,953 2,434 159,628 41,332 200,960 73,420 34,241 22,1)6 56,397 19,754 22,586 20,151 42,73? 18,025 14,159 a,655 36,014 9,634 7,035 18,366 27,561 27,270 IO.676 13.429 2,484 3,340 10,302 7,784 58,370 284,015 2,916,510 2,924 3,312 66,298 ' y 474 8 626 311 570 5,256 16.*831 228.513 25,401 26,269 54,831 31,376 24,105 16,458 5,824 7,120 18,086 15,274 5,730 16,596 25,459 22,886 540,083 304,128 1,934 43,314 15,398 604 3,637 14,822 8,103 15,655 4,801 1,240 3,06? 1,136 959 9,163 5,043 20,150 15,906 6,256 60,646 19,063 3,050 660 31,559 ?60 5,443 376 15,165 291 42,352 ggO 2,035 8,388 7,665 13,420 6,415 16,946 8,452 8,126 2,496 23,907 16,578 33,460 -10O 327 234 , 284 8,051 15,898 6,483 30,432 249 472 26,379 17,091 43,942 497 60,213 174,954 95,418 330,535 3*150 ?[l00 336,943 95,924 ?80 156,025 63,220 16,666 1,480 4,473 362 93,081 51,46? 67,126 1 29,539 64,79? 69,282 7,409 1,180 55,013 2,364 375 43,001 2,748 1.129 38,331 12,396 4,111 2,943 433 2.381 203,262 20,442 TcM^eBerves 223,704 Non-reserve cash 4,679 B i l l s discounted: Secured by U.S.Govt, o b l i g a t i o n s 13,796 Other b i l l s discounted 30,743 Total b i l l s discounted 44,539 B i l l s bought i n open market . 4?,316 U. S. Government s e c u r i t i e s : Bonds 572 Treasury notes 2,154 C e r t i f i c a t e s of indebtedness 5,312 T o t a l j J . S . Gov't, 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 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 C. 6,038 525 100,418 62,SSSf> 4,068 92 ^:?l6 S:%i 1,517 ^ S o ^ 90,963 7,933 2,220 »-M *i-Z %% %% 29,756 67,204 53,007 92,784 1,185,046 _ _ _ -,~q 40,422 28,796 37,091 69?.42&f 4,636 1,793 3,217 59 368 451 456 3.456 17I008 395,S4^ 1,465,345 373,00? 486,668 215,592 299,110 614,985 1?4,6?1 143,890 204,100 145,346 423,875 4,942,43%, f S° ' 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 a c c o u n t Government F o r e i g n bank Other d e p o s i t s RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON FEBRUARY 24, 1926. ( I n t h o u s a n d s of d o l l a r s ) Boston New York P h i l a . CIeve. R i c h . A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. D a l l a s 64,312 65,629 San F r a n . Total 161,577 366,888 148,131 208,223 78,179 159,518 162,381 139,932 853,125 1 30,849 172,405 65,055 79,208 317,159 81,521 54,146 86,305 61,400 161,774 2,202,879 680 1,539 4,560 36,670 2,380 1,540 3,533 750 1,393 4,741 6,715 1 , 8 0 4 204 183 362 5,450 209 718 225 168 1,646 498 561 278 163 39 5,617 17,232 42 822 437 165 8,431 231 820 142 6,685 36,986 S t . 4857c 39,435 188,103 1,679,362 393 323 147,338 867,035 132,32s 175,179 60,656, 135,334 59,728 65,794 70,216 86,174 320,503 84,563 56,019 87,352 63,211 172,313 2,262,231 Total deposits 48,450 39,398 83,512 37,700 11,960 37,301 30,306 38,418 648,557f Deferred a v a i l a b i l i t y items 8,61k* 33,559 11,908 1 3,460 6,04s 4,822 15,852 5,137 3,158 4,227 4,270 8,257 1 19,31^ Capital paid i n 17,020 , 59,964 20,464 22,894 11,919 8,700 30,613 9,570 7,501 8,979 7,615 15,071 220,310 Surplus 644" 2,565 448 1,118 780 498 2,124 715 940 612 509 1,713 12.66W All o t h e r l i a b i l i t i e s 395,849 1,465,345 373,007 486,66s 215,592 99,110 614,985 174,671 143,89 0 204,100 145,346 423,875 4,942,438^ TOTAL LIABILITIES 72.4 so 75.1 73-7 81.6 68.4 73.6 77.4 52.1 79.3 58.1 56.9 78.8 74 .0 Reserve r a t i o (per cent) 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 6,283 22,153 7,853 8,845 4 , 38 1 3,307 H,325 3,555 2,645 3,224 2,893 5,704 82,168 chased f o r f o r e i g n correspondents • F . R . n o t e s on hand ( n o t e s r e c ' d f r o m F . R . 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 ) ! ? , 0 6 0 145,407 31,174 16,-06 lb,691 21,792 16,618 5,767 2,677 6,292 4,575 47,648 332,007 FEDERAL/RESERVE NOTE ACCOUNTS'OF FEDERAL RESERVE AGENTS 67,333 87,412 120,711 59 , 697 291,251 2,845,^99 24,580 20.223 48,790 1 5,687 55,500 8 34,530. X.R. n o t e s r e c ' d f r o m C o m p t r o l l e r I , R . n o t e s h e l d by F . R. Agent 230,037 51,400 738,655 208,945 276,669 121,420 227,932 415,837 22b,360 29,640 52,140 26,550 46,622 236.338 F . R . n o t e s i s s u e d to F . R . Bank C o l l a t e r a l held as s e c u r i t y 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 r e d e m p t i o n f u n d Gold f u n d - F. R. Board Eligible paper 173,637 512,295 179,305 224/39 94,870 181,310 173,999 42,753 67,189 71,921 44,010 235,751 2,011,369 35,300 10,050 59,000 186,698 1,600 3,760 26,735 11,529 12,337 86,000 111,389 170,000 24,690 12,655 Total c o l l a t e r a l 91,855 196,205 1 c. H,045 1 3,052 - 17,226 - 2,772 18,886 5,000 197,321 253,619 62,331 59,424 41,883 51,146 86,040 40.287 12.723 33,244 21.901 47.911 553,052 186,849 250,541 100,294 182,454 215,549 Within 15 days 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 - 2,021 6,653 3,865 31,500 112,000 125,644 440,813 122,574 74 1,019 47,000 3,274 45,360 100,489 994,414 802.364 56,880 73,794 81,878 46,899 264,118 2,208,513 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS 16 t o 30 days 31 to 60 days 6l to 90 days 91 ^ ® h * ° Over 6 m o n t h s 25,324 42,022 22,463 s 7 29 -8so 311,246 1,348 4,200 -'952 7,461 2,000 Total 540,083
@FedFRASER