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STATEMENT FOR THE PRESS S t . 4805 Federal Reserve Board January 14, 1926. Released f o r p u b l i c a t i o n Friday morning, J a m 1 5 ; not e a r l i e r . 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 Reserve "banks on January 13, made p u b l i c by the F e d e r a l Reserve Board, shows a f u r t h e r d e c l i n e of $106,300,000 i n b i l l s and s e c u r i t i e s and of $44,300)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 g e t h e r w i t h a n i n c r e a s e of $67»80d,000 i n r e s e r v e s j and of $12,500,000 i n - s o n - r e s e r v e c a s h . P r a c t i c a l l y a l l of the r e d u c t i o n i n b i l l s and s e c u r i t i e s was i n d i s c o u n t e d b i l l s and i n a c c e p t a n c e s purchased i n open market, which went down $87,700,000 and $17,400,000, r e s p e c t i v e l y . Smaller d i s c o u n t h o l d i n g s a r e r e p o r t e d by a l l F e d e r a l r e s e r v e banks e x cept P h i l a d e l p h i a , wnich shows an i n c r e a s e of $2,000,000. The p r i n c i p a l d e c r e a s e s during the week were as f o l l o w s : Chicago $49*500,000, A t l a n t a $12,200,000, New York $ 9 , 8 0 0 , 0 0 0 , San F r a n c i s c o $5,400,000, and Cleveland $5,100,000. The Federal Reserve Bank of A t l a n t a a l s o shows a d e c l i n e of $13,200,000 i n open-market acceptance h o l d i n g s , while Minneapolis r e p o r t s a d e c l i n e of $6,500,000, S t . Louis of $ 3 , 6 0 0 , 0 0 0 , and D a l l a s of $ 3 , 5 0 0 , 0 0 0 . The Boston bank r e p o r t s em i n c r e a s e of $ 6 , 0 0 0 , 0 0 0 i n h o l d i n g s of a c c e p t a n c e s purchased i n open market, and Chicago a n i n c r e a s e of $3,500,000. A decrease of $1,900,000 i n the S y s t e m ' s h o l d i n g s of Treasury n o t e s was p a r t l y o f f s e t i n c r e a s e of $ 1 , 3 0 0 , 0 0 0 i n T r e a s u r y c e r t i f i c a t e s and U. S. bonds. All of t h e Fe'deral r e s e r v e banks r e p o r t a s m a l l e r volume of F e d e r a l r e serve n o t e s i n c i r c u l a t i o n , with the e x c e p t i o n of Boston which shows a n i n c r e a s e of $4,500,000. The p r i n c i p a l d e c r e a s e s w e r e : New York $11-,000,000, San F r a n c i s c o $ 9 , 4 0 0 , 0 0 0 , Cleveland $4,900,000, A t l a n t a $4,500,000, P h i l a d e l p h i a $4,200,000, Chicago $ 4 , 1 0 0 , 0 0 0 , and Richmond $3,700,000. 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 serve banks during t h e week and the y e a r ending January 13, 1926, f o l l o w s : Increase or d e c r e a s e during Week 4- Total r e s e r v e s . Gold r e s e r v e s + 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 d i s c o u n t e d . B i l l s bought i n open market Federal r e s e r v e n o t e s i n c i r c u l a t i o n C. - - 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 . . Total d e p o s i t s Members1 r e s e r v e d e p o s i t s Government d e p o s i t s - + - + - $67,800,000 55,000,000 106,300,000 87,700,000 57,800,000 29,900,000 + + + + 244,000,000 164,700,000 17,400,000 + 3,500,000 600,000 700,000 1,900,000 600,000 44,300,000 4,200,000 . . . . • + Year 1,600,000 400,000 — - * + - - + - 131,000,000 79,300,000 118,100,000 19,100,000 148,100,000 49,100,000 4,700,000 5,400,000 23,300,000 13,400,000 Released f o r p u b l i c a t i o n F r i d a y morning, January 15, 192b; not e a r l i e r . St.4805a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( I n thousands of d o l l a r s ) J a n . 13, 1926 J a n . 6. 1926 J a n . 14. 192% RESOURCES Gold w i t h Federal r e s e r v e a g e n t s Gold redemption fund w i t h U.S. Treasury . 1,472,351 49,711 1,424 473 58,'526 1 744 250 ' 45*703 Gold held 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 fund w i t h F. R. Board . . Gold and gold c e r t i f i c a t e s h e l d by banks . 1,522,062 608,492 668,479 1,432,999 638 643 622,'378 1^789,953 603 <544 559,'538 . 2,799,033 2,744,020 2,953^35 . . 150,846 138,01,6 l 3 g,66U 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 di.countei . . . . . . . . 2,949,879 86,990 2,882,06b 74,481 3,091,699 78,642 72b iui pzi 505,763 *593,469 261 759 327 402 - **••>» 59,^10 184,022 125,363 *55,689 185,906 *124,824 78,540 332 168 76,214 jjgg *369 4ig Ij-gg gg2 1,212,118 642 1,318,378 642 1,081,141 641 j | JS_1| 5,138,850 5,031,772 1,733,284 1,777,628 1,737,977 2,279,741 2,275,123 2,256 491 2,324,990 669,225 2,329,218 683,994 2,330,340 623,681 J i J i J»i Total a r o l d . r e s e r v e s . Reserves o t h e r t h a n gold Total b i l l s d i s c o u n t e d " t m°" ds ' • 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 SOR &•*»• : : : : : : : : _ i l _ H _Js 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 . . TOTAL.RESOURCES 5,075,895 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 . . . . E-e;.':Y:Y::Y:::::: J i Total d e p o s i t s Deferred a v a i l a b i l i t y items TOTAL LIABILITIES 5,075,895 jg J | 5,136,850 5,031,772 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 . . . . 72.7% 70.2$ 76.0$ 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 81,042 79,063 49,817 *Ravised f i g u r e s . C. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JANUARY' 13, 1926. ( I n thousands of d o l l a r s ) R E S O U R C E S Boston Gold w i t h F e d e r a l Reserve Agents 9°,316 Gold r e d e m p t i o n . f u n d w i t h U . S . T r e a s . 8,055 ^k)ld held 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 93,371 'Gold s e t t l e m e n t fund w i t h F.R,Board 27,340 Gold and gold c e r t i f i c a t e s 44,840 T o t a l gold r e s e r v e s Reserves o t h e r t h a n gold Total reserves New York P h i l a . CI eve. 339,857 l 4 l , 0 8 9 191,334 11,478 3,828 4,253 401,335 222,6a 379,293 144,917 170,551 1,003,249 211,169 3,152 23,871 194,422 36,463 195,537 4 0 , 9 0 0 48,529 25,352 49,416 1,039,712 214,321 293,532 S t . 4805b 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 F r a n . T o t a l 69,821 107,368 129,654 14,790 62,347 53,339 20,093 201,843 1 472 351 1,799 4,4?! 3,769 1 , 0 0 5 2,652 3,023 1 , 9 1 2 3 , 4 6 6 49*711 r ~ 71,620 111^839 133,423 15,795 64,999 56,862 22,005 205,309 1,522,062 18,868 20,545 118,201 17,287 18,656 29,576 11,411 34,558 608 492 8,188 4 , 3 9 2 84,06? 15,180 6,906 4,881 11,333 34,631 G6&,kn 48,262 15,930 90,561 2,587 91,319 4,629 44,749 274,498 2,799,033 22,108 3°3,588 107,552 146,062 357,799 64,192 93,148 95,948 50,738 282,397 2,949,879 10,056 98^676 8,876 136,776 335,691 9,286 5,989 7,899 150,846 Non-reserve 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 15,209 21,558 1,790 4,765 7,053 5,278 14,251 4,776 1,328 3,214 3,346 4,422 16,234 12,629 137,961 33,59% 30,177 17,394 40,053 25,901 11,762 3,910 23,834 16,656 38,092 28,116 9,ll6 8,285 1,136 2,946 6,203 8,973 1,622 5,938 9,696 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 28,863 87,993 171,559 25,34? 47,571 15,110 65,954 35,596 4,815 20,56b 56,558 6b,208 3°,171 17,401 22,322 4,082 15,176 14,294 7,560 24,283 25,22? 29,296 505,763 327,402 553 1,815 ~ 1,934 39,633 -- - - 4,Ol6 - 604 8,103 19,691 1,240 3,511 7,665 17,236 28,761 7,240 470 59,410 184,022 Total U\S,Gov*t. s e c u r i t i e s Other s e c u r i t i e s F o r e i g n l o a n s on gold 12,203 8,385 18,415 1 1 52,749 24,063 36,485 3,944 17,929 53,002 24,822 1,590 252,045 749 90,445 110,845 371 49,726 287 966 95,340 150,347 322 64,86? 642 176,240 16,652 4,109 65,524 1,454 186 65,670 61,427 2,364 396 43,022 2,728 1,312 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 U n c o l l e c t e d iterns Bank p r e m i s e s All o t h e r r e s o u r c e s TOTAL RESOURCES c. 518 129,577 70,090 4,068 87 413,453 1 , 5 1 0 , 9 5 8 7,657 998 20,190 2,025 9 , 7 8 0 19,355 14,715 w , v VU. 1 } — x.—-Vf * J \ 3,050 651 7,409 1,083 373,720 493,360 228,518 293,742 9,056 7,094 J 1, 86,990 f 305,962 15,531 V l ^ e Q l 1 32,120 49,940 67,310 363,795 3,158 7,000 490 245 64,208 1 04,953 1 , 2 1 2 , 1 1 8 42,927 4,636 484 32,250 1,793 490 46,065 3,217 3,445 750,502 59,308 16,456 626,147 176,914 147,240 214,519 152,825 444,499 5,075,395 93,776 7,933 2,041 38,623 4,111 345 19,078 8 231 37,460 100 280 32,455 14,888 2,943 2,478 642 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 RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BANKS ON JANUARY 13, 1926. St.. 4805c ( I n thousands of d o l l a r s ) Boston New York P h i l a . CIeve. Rich. A t l a n t a Chicago St.Louis Minn. Kans.Cy. D a l l a s San Fran. Total 167,908 367,600143,158 as,925 84,261 161,312 173,333 38,748 67,556 69,912 44,214 196,357 1,733,284 148,661 887,109 1 36,110 176,920 67,250 81,120 324,466 83,840 53,572 90,247 61,381 169,065 2,279,741 1,486 4,541 1,231 1,015 1,060 935 343 852 935 1,770 1,054 1,895 17,117 625 1,817 781 854 436 329 1,127 354 263 321 288 568 7,763 161 10,377 317 1,041 87 41 9O8 857 262 396 43 5,879 20,369 150,933 903,344 138,439 179,830 6s,833 82,425 326,844 85,903 55,032 92,734 62,766 177,407 2,324,990 63,427 145,111 59,813 57,525 56,825 36,210 77,752 36,966 13,054 32,150 33,543 45,849 669,225 8,611 32,395 11,623 13,174 5,994 4,695 15,741 5,127 3,184 4,236 4,267 8,230 117,277 17,020 59,964 20,464 22,894 11,919 8,700 30,613 9,570 7,501 7,615 15,071 220,310 8,979 554 2,044 223 1,012 686 400 1,864 600 508 420 1,585 10,809 _2H 413,453 1,510,958 373,720 493,360 228,518 293,742 626,147 176,914 147,240 214,519 152,825 444,499 5,075,895 81.8 61.0 81.8 76.1 76.1 70.3 59.9 71.5 76.1 70.3 59.9 51.5 76.0 59.0 47.4 75.6 72.7 6,172 22,086 7,715 8,689 4,304 3,248 11,125 3,492 2,599 3,167 2,842 5,603 81,042 Deferred a v a i l a b i l i t y items C a p i t a l p a i d in Surplus All o t h e r l i a b i l i t i e s TOTAL LIABILITIES Reserve r a t i o (per 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 (notes r e c ' d from I.R.Agent l e s s n o t e s i n c i r c u l a t i o n ) 2 1 , 1 4 5 F. R. n o t e s r e c ' d from Comptroller F. R. n o t e s held by F. R. Agent F.R. n o t e s issued t o F.R. Bank C o l l a t e r a l h e l d as s e c u r i t y f o r F.R. n o t e s issued to F.R.Bank: Gold and gold c e r t i f i c a t e s Geld redemption fund Gold fund - F. R. Board E l i g i b l e paper T ot a l c o l l a t e r a l 151,580" 48,718 19,791 22,009 21,887 24,711 6,902 3,529 8,814 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 6,315 54,790 390,191 745,540 217,716 294,586 129,560 228,732 432,281 68,730 88,768 120,556 64,791 304,647 2,944,910 226,360 25,840 55,870 23,290 45,533 234,237 23,080 17,633 41,830 14,262 53,500 821,435 189,053 519,180 191,876 238,716 106,270 183,199 198,044 45,650 71,085 78,726 50,529 251,147 2,123,475 249,003 59,950 35,300 186,698 2,000 8,780 21,160 10,575 9,845 13,052 15,226 302,636 11,016 27,159 10,700 12,554 2,161 6,293 4,010 1,745 1,295 4,479 2,867 13,902 98,181 44,000 176,000 128,389 170,000 46,500 90,500 125,644 3,200 48,000 49,360 2,000 187,941 1,071,534 116,856 163,133 52,697 71,317 38,592 77,035 96,209 39,708 12,839 29,420 31,808 54,437 789,051 207,172 557,990 193,786 262,651 108,413 184,403 225,863 54,498 75,186 83,259 51,901 256,280 2,261,402 DISTRIBUTION OF BILLS, MUNICIPAL WARRANTS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES Within 15 days 16 t o 30 days B i l l s discounted B i l l s bought in open market C e r t i f i c a t e s of indebtedness Municipal w a r r a n t s 393,006 - 105,423 s 26,942 59,292 - 31 t o 60 days 6l t o 9O days -50,266 94,319 - 25,194 - 57,779 — From 91 days t o fa months 9,883 114,400 10,589 - Over 6 months 472 10,963 - — Total 505,763 125,363 327,402 g
@FedFRASER