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Released f o r publication Friday morning, July 13; not e a r l i e r . SIABBMHm TOR THE PRESS St. 5839 Federal Reserve Board July 12, 1928 CONDITION OF FEDERAL RESERVE BANKS Die consolidated statement of condition of the Federal reserve banks on July 11, made public by the Federal Reserve Board, shows decreases f o r the week of $101,700,QOO in holdings of discounted b i l l s , of $22,000,000 in b i l l s "bought in open market, of .$1,800,000 in Government s e c u r i t i e s , of $37.500,000 in member "bank reserve deposits, and of $20,000,000 in Federal reserve' noto c i r culation, and increases of $54,600,000 in cash reserves. Total b i l l s and sec u r i t i e s were $125,600,000 below the amount held on July 3. All of the Federal reserve banks except New York, Richmond, and Atlanta report smaller holdings of discounted b i l l s than a week ago, the principal changes being decreases of $42,600,000 a t the Federal Reserve Bank of Chicago, $24,000,000 a t Boston, $20,300,000 a t Philadelphia, and $15,000,000 a t Cleveland, and an increase of $13,100,000 a t New York. The System's holdings of b i l l s bought in open market declined $22,000,000, of c e r t i f i c a t e s of indebtedness $4,100,000, and of Treasury notes $3,000,000, while holdings of U. S. bonds increased $5,300,000, The p r i n c i p a l changes in Federal reserve^circulation during the week were decreases of $15,100,000 at the Federal Reserve Bank of San Francisco, and $7»500,000 a t New York, and an increase of $3,200,000 a t Cleveland, 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 July 11, 1928, follows: Increase or decrease during Week Year Total reserves . Gold reserves + $54,600,000 + 48,400,000 -$423,600,000 - 417,800,000 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. Government obligations Other b i l l s discounted . - 125,600,000 - 101,700,000 B i l l s bought in open market . , , , . . - 64,100,000 + 496,700,000 + 663,100,000 + 469,200,000 + 193,800,000 - 22,000,000 5,600,000 - 37,600,000 I 1,800,000 U. S. Government s e c u r i t i e s , t o t a l . . . Bonds . . . . . . . . . . Treasury notes . . . 5,300,000 ,000,000 ,100,000 Certificates of indebtedness Federal reserve notes in circulation Total deposits Members' reserve deposits Government deposits . . . W. , , . , - 160,000,000 - 115,800,000 + 10,900,000 - 55,200,000 - 20,000,000 - 63,100,000 - 51,900,000 37,500,000 + + 46,200,000 50,400,000 - 9,200,000 1,300,000 Released f o r publication Friday morning, July 13, 1928; not e a r l i e r St. 5839a RESOURCES AND LIABILITIES OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of d o l l a r s ) J u l y 11, 1928 J u l y 1.1928 J u l y 13.1927 RESOURCES f o l d with Federal reserve agents . . . . Sold redemption fund with U.S. Treasury Gold held exclusively 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 reserves Reserves other than gold Total reserves ^on-reserve cash j f i l l s discounted: Sec. by U. S. Government obligations . X Other b i l l s discounted . . . . . . Total b i l l s discounted . . . . B i l l s bought in open market . . . . Ur 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 Gold held abroad . . . Due from foreign banks Uncollected items . . . . . . . Bank premises All other resources | TOTAL RESOURCES . 6 . 1,161,160 67.361 1,228,521 666,960 1,129,584 62.100 1,191,684 699,796 655,010 1,633,803 40.883 1,674,686 585,410 752,582 . 699,395 2,594,876 152,361 2,747,237 2,546,490 146,100 2,692,590 158,166 3,170,838 63,113 54,273 64,424 713,372 375,896 777,480 413,530 182,069 1,089,268 1,191,010 426,202 187,642 209,664 193,207 60,968 55,701 90,687 73,177 5,195,121 176,725 76,832 124,246 377,803 1,300 998,512 2,682 48,716 753,494 59,292 14,459 5,112,417 1,640,150 1,660,132 1,703,289 2,365,396 12,230 2,402,892 21,468 619,630 26,104 2,459,316 682,191 141,210 233,319 18,953 2,315,003 13,524 5,532 27,181 87,720 69,077 217,765 490 1,495,165 219,565 490 1,620,729 — — „ 571 687,818 571 758,391 6o,o47 60,056 8,563 5,062,523 8,520 3,012,678 244,133 L I A B I L I T I E S F,- R. notes in actual c i r c u l a t i o n Deposits: Member bank - reserve account . Government Foreign bank . . . . . . . . . Other deposits Total deposits Referred a v a i l a b i l i t y items . . . Capital paid i n |urplus . . . Jill other liabilities . . . . . . 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 . . . Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents . . . . . . I 9,476 20,339 2,407,441 143,221 233.319 18,762 5,062,523 67.9# 310,888 8,852 5,195,121 65.4f . 309,038 2,361,240 677.792 129,414 228,775 11,907 5,112,417 78.0# 151,195 RESOURCES AMD-LIABILITIES OF THE FEDERAL RESERVE BAMS OH JULY 11, 1928 ( i n t h o u s a n d s of d o l l a r s ) R E S O U R C E S Total Boston New York Fhila. Cleve. Rich. A t l a n t a Chicago S t . L o u i s Minn. - B> n o t 9 s 1,223,521 111,066 F.R.Board 666,960 6 3 , 3 8 4 Gold s e t t l e m e n t f u n d w i t h Gold and g o l d c e r t i f . h e l d by banks Total g o l d r e s e r v e s Reserves other than g o l d Total r e s e r v e s S e c u r e d 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 Ut 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 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 p r e m i s e s A l l other resources~ TOTAL RESOURCES W 25,960 2,59^,376 200,410 1 5 2 , 3 6 1 15,678 2 , 7 ^ 7 , 2 3 7 216,088 Non-reserve cash B i l l s discounted: Total b i l l s discounted 699,395 63,113 5.986 713,372 "*7C enC 375,896 30,305 00 n)i-? 28,O4 3 1,089,268 58,348 187,642 24,915 60,968 704 87,720 69,077 2,324 4,589 217,765 7,617 490 112,175 472.937 383,951 55,00% 27,298 68,745 38,522 15.995 9,l48 g 4 2 1 175 R77 8^83 5^647 x6 q-t® 11.32^ Kans.Cy. D a l l a s San Fran. 44,266 3,014 19,071 217,602 1,577 1,208 48,437 47,280 20,648 218,810 24,247 4,803 77,487 25,679 38,194 6,4os 14,051 27,115 96,286 60,378 284,119 42,598 781,766 163,558 244,524 54,527 100,753 451,393 79,675 30,073 7 , 6 9 3 14,019 11,009 17,703 16,881 1 5 , 4 2 7 2,711 5,425 6,319 8 1 1 , 8 3 9 1 7 1 , 2 5 1 2 5 8 , 5 4 3 6 5 , 5 3 6 1 1 8 , 4 5 6 4 6 8 , 2 7 4 95,102 80,198 101,711 66,697 20,127 1,624 3,873 4,160 4,725 8,112 3,850 1,581 2,185 2 , 9 5 5 333,298 62,519 68,408 21,455 19,944 104 772 1 19 189 y / - - - - - - -> « ' ' ' * 116,335 23,229 32:695 31:956 46^76- 33,751 28:103 449,633 85,748 101,103 53,4ii 66,520 138,523 47,292 33,486 20,449 18,107 6,74o 13,340 i4,589 147 7,084 585 15,020 9,571 18,193 11,492 4 o , 2 9 7 21,648 - 1,495,165 90,880 571 37 687,818 67,060 60,056 3,824 8,563 76 5,062,523 196,654 81,255 137,257 29,384 84,147 222,169 31,4i4 505 1,153 27,667 806 5,726 1,585 33,898 3 , 5 4 4 - - 26 20,267 3,241 5,805 1,938 9,656 5,205 35,728 - 7,125 - 5539b 45,920 2,517 Gold h e l d e x c l u s i v e l y a g a i n s t F St. 5,063 5,049 2,870 14,330 7,933 12,426 19,379 10,407 4,519 ll,l4o 5,697 5,782 9,423 293,542 3,935 37,673 12,226 11,479 4 9 , 8 9 9 12,003 21,033 7,819 4i 4,230 2,948 3,875 12,233 2,296 4,470 4,024 5,108 7,125 11,045 18,558 15,71s 17,382 490 523,416 127,845 153,108 63,695 85,065 188,840 54,564 31,894 48,344 39,200 88,314 217 47 51 25 21 69 21 13 18 17 35 183,l4o 54,145 60,490 51,647 24,437 87,457 32,125 15,574 43,089 24,874 43,780 16,563 1,752 6,806 3,437 2,833 8,720 3,900 2,202 4,308 1,877 3.834 1,458 247 1,239 403 1,301 997 546 824 418 482 572 1,556,760 356,911 484,110 188,903 236,838 762,469 190,108 132,286 200,073 136,102 434,012 L I A B I L I T I E S RESOURCES ASD. LIABILITIES OF TEE FEDERAL RESERVE BANKS ON JULY 1 1 , 1928 Total Boston F.R. notes in actual c i r c u l a t i o n Deposits: Member tank - reserve account Government Foreign bank Other deposits 2,365,396 150,339 Total deposits Deferred a v a i l a b i l i t y items Capital paid in 2,407,441 151,995 619,630 64,474 143,221 9,893 : 12,230 9,476 20,339 Surplus 233,319 18,762 TOTAL LIABILITIES Reserve r a t i o (per cent) Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents F.R.notes on hand (notes r e c ' d from F.R. Agent l e s s notes in circuLa.ti.c13) Total c o l l a t e r a l Ne, York Phi l a . Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 1, 10,150 133,511 1341,685 130,408 197,372 53,096 132,100'273,654 57,917 56,117 55,627 30,097174,166 All other l i a b i l i t i e s F.R.notes r e c ' d from Comptroller F.R.notes held by F. R. Agent F.R.notes issued to F.R.Bank C o l l a t e r a l held as security f o r F.R.notes issued to F.R.Bank* Gold and gold c e r t i f i c a t e s Gold redemption fund Gold fund - F. R. Board Eligible paper St. 5839c (In thousands of dollars) 784 728 144 17,893 1,185 Zlllillilii'i II 111 II1111 •111 944,500 i4o,i42 189,653 68,849 67,4l> 359,738 84,029 52,027 92,581 67,278189236 5,062,523 383,951 1,556,760 356,911 484,iio 188,903 236,838 762,469 190,108 132,286 200,073 j.36,102 434,012 67.9 74.4 63.1 63.3 66.8 53.7 59.4 74.0 67.0 74.2 68.6 68,5 80.8 310,888 23,421 86,670 29,667 32,477 15,926 13,116 43,407 13,428 8,432 11,242 10,930 22,172 401,365 29,777 2,824,675 783,160 234,238 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS ^ 65.950 2,o4l.515 168,288 35^,977 99,815 126,702 26,746 28,900 15,454 27,496 45,092 12,208 35,300 16,851 706,368 53,000 1,222,349 83,244 2,383.509 188,395 K 7,070 8,926 6,374 66,620 %% *•% 468,387 157,154 226,272 68,550 159,596 318,146 70,125 63,187 64,553 36,471 24o,7%6 3 al ,;:g z a ii II ii || | 631,168 159,438 249,773 83,168 159,745 367,992 72,866 66,235 73,900 42,515 288,314 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS f i l l s discounted i l l s bought in open market Oe* t for # iFRASER c a t e g of isdelteSapss, . Digitized Total 1,089,268 Within 15 days 936,325 11 320 220 l6t 3°9,563 d a y S 37,839 31 %%**** 61 Over 6 months .26,683 4l34s 24,5ogr
@FedFRASER