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STATEMENT FOB 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. 3; not e a r l i e r . S t . 5664 F e d e r a l Reserve Board, February 2, 1928. 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 the F e d e r a l r e s e r v e b a n k s on Febihia r y 1, made p u b l i c by t h e F e d e r a l Reserve Board, shows i n c r e a s e s of $38,200,000 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 , $30,100,000 i n b i l l s bought i n open m a r k e t , and $50,000,000 i n member bank r e s e r v e d e p o s i t s , and d e c r e a s e s of $17.^00,000 i n cash ire s e r v e s , $7,200,000 i n Government s e c u r i t i e s , and $7,900,000 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 . T o t a l b i l l s and s e c u r i t i e s were $61,100,000 above the amount h e l d a week ago. Larger h o l d i n g s of d i s c o u n t e d b i l l s were r e p o r t e d by J of t h e r e s e r v e b a n k s , t h e l a r g e s t i n c r e a s e s , $18,800,000 and $17,800,000 b e i n g r e p o r t e d by the F e d e r a l Reserve Banks of Boston and P h i l a d e l p h i a , r e s p e c t i v e l y , while t h e F e d e r a l Reserve Sank of Chicago r e p o r t s a de crea se of $5.^00,000' i n d i s c o u n t e d b i l l s . The System's h o l d i n g s of b i l l s bought i n open m a r k e t , i n c r e a s e d $30,100,000 and of U. S. bonds $5.700,000, while h o l d i n g s of Treasury n o t e s d e c l i n e d $11,200,000, 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 $1,800,000. 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 $7,900,000 l e s s t h a n a week ago, i n c r e a s e s of $2,500,000 a t t h e P h i l a d e l p h i a bank, $2,200,000 a t New York, and <jjl,200,000 a t Boston, b e i n g more t h a n o f f s e t by d e c r e a s e s a t t h e n i n e o t h e r r e serve b a n k s , t h e l a r g e s t d e c r e a s e , $6,100,000, b e i n g r e p o r t e d by the F e d e r a l Reserye Bank of C l e v e l a n d . 1 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 t h e r e s e r v e banks d u r i n g t h e week and the y e a r ending February 1 , 1928, f o l l o w s : Increase or decrease Week during Year Total r e s e r v e s Gold r e s e r v e s - $17,400,000 - 20,100,000 - $158,000,000 - 162,900,000 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 . . . , . + + + + 61,100,000 38,200,000 33,700,000 4,500,000 + + + - 206,300,000 30,200,000 92,900,000 62,700,000 + 30,100,000 + 48,300,000 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 i n d e b t e d n e s s . , 7,200,000 + 5,700,000 - 11,200,000 1,800,000 Federal reserve notes in c i r c u l a t i o n 7,900,000 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 ,C. . . + 50,300,000 + 50,000,000 + 2,200,000 + 129,800,000 + 8,600,000 + 139,800,000 18,500,000 •- 109,500)000 + 153.700,000 + 162,700,000 8,800,000 Released f o r p i i b l i c a t i o n F r i u a y morning, February 3. 1923; "sot e a r l i e r . St. $664a RESOURCES MD LIABILITIES OF THE TWELVE FEDERAL HE2LEV3 BASKS COMBINED ( i n thousands of d o l l a r s ) J a n . 25,1928 Feb. 2.1927 Feb. 1, 192S R E S O U R C E 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 . T r e a s u r y . . 1,419,336 46,973 1,465,875 47,455 1,552,754 52,926 Gold h e l d e x c l u s i v e l y a g a i n s t J . R . n o t e s Gpld s e t t l e m e n t f u n d with F. R. Board . . Gpld and gold c e r t i f i c a t e s h e l d by t a n k s 1,466,309 697,839 634,830 1,513,330 636,954 668,794 1,605,680 2,319,078 2,961,863 171,652 163,956 166,786 2,970,630 2,988,034 84,434 92,553 296,528 126,904 262,785 122,439 203,661 189,610 423,432 377,393 335,224 347,305 393,271 329,072 61,901 233,082 138,678 56,184 244,266 I4O,447 53,351 93,320 157,208 433,661 44o,897 500 303,879 2,500 1,234,986 568 621,207 58,755 10,455 1,173,926 568 613,190 58,731 10,515 1,028,722 657 636,827 58,269 12,195 4,981,035 4,942,522 4,937,168 1,576,985 1,534,922 1,686,515 2,4c4,673 24,006 5,045 18,178 2,354,712 21,786 5,306 19,310 2,241,946 32,768 4,866 18,631 2,451,902 2,4oi,6i4 2,293,211 573,990 134,440 233,319 10,399 577,945 134,209 233,319 10,513 Total s o l d r e s e r v e s 2,798,978 Reserves o t h e r t h a n gold J o n - r e s e r v e cash B i l l s discounted: Sec. by U.S.Government o b l i g a t i o n s . . . 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 T o t a l U.S. Government s e c u r i t i e s 500 1'otal b i l l s and s e c u r i t i e s . . . Uncollected items Bank premi ses H I other resources TOTAL RESOURCES , 594,679 761,504 3,128,643 71,849 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 F o r e i g n bank Other d e p o s i t s . . . Total deposits . D e f e r r e d a v a i l a b i l i t y i t e m s ." Capital ^aid in Surplus All other l i a b i l i t i e s TOTAL LIABILITIES 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. n o t e l i a b i l i t i e s combined . . . . . . 4,981,035 4,942,522 587,680 125,748 228,775 10,239 4,937,168 13. n 75.0$ 78.5$ 237,364 231,881 77,780 Contingent l i a b i l i t y on b i l l s purchased C. R E S O U R C E J983005058 RESOURCES s: =:==: m LIABILIT Gold h e l d e x c l u s i v e l y a g a i n s t S:g T o t a l t i l l s discounted. : sStt > 423,432 3 5.591 377,393 38,768 114,294 103 ' 48,325 6i5 i 33.992 ^ cggw. 566411 —— % % gg&gsS b^:5™ t ° " s : I E S OP THE FEDERAL RESERVE BJfflKS ON FEBRUARY 1, 1928. ( I n thousands of d o l l a r s ) 1 jjg :::: :g :g%% is :: i::. 135 i:S i:S %:: Sfl „»& 3:8 ?% : Z % : ;:gg 29.16s 26.280 39.769 ^ « . « « 5 7 . 9 6 1 18,850 « . « a 3.761 . 14.m 14,144 13,738 4,488 M , a a 54 770 ^ — - 1:5 4:# iS i£ $«L "ii \€ If 4S % -S "!€ % Total %-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 aifi from f o r e i g n b a n k s EBE1, TOi-aL EESOURCiS 433,661 500 23,281 1,234,986 568 97,640 37 11 91,696 36,245 51,34o 309,605 113.704 118,749 216 46 51 8,960 10,384 _ _ 64,820 25 68,089 32,896 _ _ 47,489 165,819 21 68 65,567 21 18,849 31,221 25867 34 833 59,103 18 48,637 106 532 17 ' 500 37,321 13 •« -f fi -S jg IS 1:S -:g « V& Sg 4,981,035 362,030 1*,581,524 342,796 476,303 205,741 250,390 698,887 187,936 129,381 198,115 149,084 398,84s BE SOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON FEBRUARY 1, 1923 S t . 5664c ( I n thousands of d o l l a r s ) T o t a l Boston New York F h i l a . Cleve. 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 San Fran. F.R.notes i n actual c i r c u l a t i o n 344,481 120,486 :193,772 68,050 133.856 229,549 53,287 55.844 61,420 40,089 152,056 1 , 5 7 6 , 9 8 5 124,095 Deposits: Member bank - r e s e r v e account 2,404,673 148,939 958,445 138,264 :188,087 71.247 74,089 346,389 86,282 52.033 89,572 69,66l 181,665 Government 24,006 1,146 1,124 1,122 1,201 2,448 1,078 10,307 1,310 827 1.785 679 979 Foreign bank 124 344 l6l 436 638 lb5 326 5,045 234 1,750 477 193 197 Other d e p o s i t s 246 18,178 204 4.228 36l 76 9.823 142 1.067 792 1.015 131 93 Total deposits 2,451,902 150,633 980,325 139,955 190,889 72,824 76,160 350,542 87,667 53.382 91,651 70,976 186,898 Deferred a v a i l a b i l i t y i t e m s 9,285 31,272 24,881 33.617 573,990 59,565 149,303 47,110 52,319 45,462 24,864 65,757 30,555 Capital paid in 41,846 13,218 14,124 4,265 134,440 9,4O4 6,247 9,452 5,340 3,025 4,251 5.171 18,097 Foreign bank 8,527 16,629 63,007 21,662 24,021 12,324 9.996 32,778 10,397 7,039 9,046 233,319 17,893 211 o t h e r l i a b i l i t i e s 346 2.164 690 806 - 44o 2.562 1.178 196 834 475 365 343 10,399 TOTAL LIABILITIES 4,981,035 362,030 1,581,524 342,796 476,303 205,74i 250,390 698,887 187,936 129,381 198,115 14-9,084 62.9 Reserve r a t i o ( p e r c e n t ) 73•7 69.1 63.0 76.1 70.4 73-8 79.4 66.7 74.7 58.1 79.9 59.0 79-9 Contingent l i a & i ^ 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 237,364 17,790 67,054 22,534 24,669 12,097 9,963 32,971 10,200 6,4o4 8,539 8,302 16,84-1 F . R . n o t e s on hand ( n o t e s r e c ' d from 9,438 67,675 9,013 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 ) 4 4 7 , 0 6 7 32,120 133,825 43,906 39,865 21,742 30,185 46,667 7,375 5.256 FEDERAL EE SERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 70,159 298,231 F.R. n o t e s r e c ' d from Comptroller 2,924,622 235,435 3 770,336 197,892 278,317 115.391 226,421 462,516 77,832 82,789 109,25 292,080 33.500 44.680 25.599 62.380 186.300 17.170 21.689 38.820 20.632 78.500 F.R. n o t e s h e l d "by F. R. Agent 900,570 79,220 L I A B I L I T I E S F . R . n o t e s i s s u e d t o F.R.Bank 2,024,052 Collateral held as security f o r F . R . n o t e s i s s u e d t o FJl.Barik: Gold and g o l d c e r t i f i c a t e s J*Q§-,495' Gold redemption f u n d /b3. 7^7 112,742" Gold f u n d - F . R . Board 901,099 E l i g i b l e paper 765.210 2,184,546 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. 156,215 478,306 164,392 233.637 89,792 l64,o4i 276,216 60,662 61,100 70,43349,527 219,731 4o,ooo 8,900 14,167 42,6oo 31,020 20,000 35,300 205,150 -13,0004,756 15.825 2,127 14,848 19,109 10,015 13,525 8,671 1,927 956 7,933 7,000 115,362 58,000 75.000 86,377 125,000 6,500 99,500 225,000 22,500 32,000 4a i860 74,359 200,721 70.302 64.857 49.071 36.622 97.565 32.481 17,725 27.753 22.58A 71.165 50,947 242,352 182,507 499,980 166,694 245,982 94,574 164,793 324,492 66,008 64,848 81,369 MATURITY DISTRIBUTION OF BILLS AHD CERTIFICATES OF INDEBTEDNESS 91 days t o Over 6 months Total Within 15 days l 6 t o 30 days 31 t o 60 days 6 l to 90 days 6 months 1.378 15.571 423,432 362,922 15,929 22,552 5.080 4,018 80,845 377,393 122,331 72,232 97,967 31.842 46,259 138,678 5,000 55,577 * >
@FedFRASER