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STATEMENT FOR.THE PRESS • Released f o r p u b l i c a t i o n Friday morning, J u l y 16; not e a r l i e r . s t . 5023 Federal Reserve Board, J u l y 15, 1926. 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 Federal r e s e r v e banks on July 14, made p u b l i c by the Federal Reserve Board, shows a d e c l i n e f o r t h e week of $8%,000,000 in b i l l s and s e c u r i t i e s , accompanied with i n c r e a s e s of $49,100,000 i n cash r e s e r v e s and $lj), 600,000 i n n o n - r e s e r v e cash, and a ^ r e d u c t i o n of $30,300,000 in Federal reserve note c i r c u l a t i o n . Discount h o l d i n g s / 8 ? 1 §§7,600,000 and open market acceptance h o l d i n g s $3,400,000, while h o l d i n g s of Government s e c u r i t i e s dec U n e t i 5,500,000. The Federal Reserve Bank of New York shows a r e d u c t i o n of $92,500,000 i n d i s counts, a s compared with an i n c r e a s e of $135,500,000 r e p o r t e d t h e week b e f o r e , and the Chicago bank a d e c l i n e of $9,200,000 and Richmond of $3,700,000. Discount holdings of t h e S t . Louis bank increased $5,300,000 and of P h i l a d e l p h i a £4,300,000. Open market acceptance h o l d i n g s a t the A t l a n t a r e s e r v e bank were $3,900,000 above and a t the New York and Cleveland r e s e r v e banks $3,300,000 and $2,600,000, r e s p e c t i v e l y , below t h e p r e v i o u s weeks' t o t a l . The System's h o l d i n g s of Treasury notes increased $17,700,000 and of United S t a t e s bonds $2,100,000, while h o l d i n g s of Treasury c e r t i f i c a t e s declined $4,000,000. All of the Federal r e s e r v e banks, r e p o r t a smaller volume of F e d e r a l r e s e r v e notes 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 Chicago and S t . Louis, which show a t o t a l i n c r e a s e of $2,400,000, t h e p r i n c i p a l d e c r e a s e s b e i n g : New York $14,100,000, San F r a n c i s c o $7,700,OOu, A t l a n t a $2,600,000, and Boston $$,500,000. 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 r e s e r v e banks d u r i n g the week and the year ending J u l y 14, I926, f o l l o w s : Increase or decrease during Year Week Total r e s e r v e s Gold r e s e r v e s + $49,100,000 + 3S,600,000 + $55,700,000 T otal 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 . - 87,000,000 97,600,000 65,000,000 32,600,000 + 103,300,000 + 60,200,000 + .16,500,000 3,400,000 2,900,000 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 . B 0 nd s . . . . . . . . . . . . . . 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 . . + 15,200,000 + 2,100,000 + 17,700,000 - 4,000,000 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 . - 30,300,000 Total d e p o s i t s 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 + + + 7,5-0,0v0 2,300,000 6,900,OvU c. + + + + + + 54,800,000 43,700,000 46,600,000 10,400,000 9,000,000 27,200,000 80,300,000 + 54,900,000 + 46,600,000 + 10,900,000 Released f o r p u b l i c a t i o n Friday morning, July l 6 , 1926; not e a r l i e r . S t . 5C23a RESOURCES ADT. LIABILITIES 0? THE TWELVE 2FD2RAL kSSERVS BANK'S COMBINED ( I n thousands of d o l l a r a) J u l y 14, lQdo J u l y 7. 1926 July 15, 192= RESOURCES ' ^ Gold with Federal r e s e r v e a g e n t s . . . . 1,441,894 1,322,166 1,472,241 Gold redemption fund with U.S. Treasury 53,209 54,655 51,324 Gold hold e x c l u s i v e l y a g a i n s t F,R.notes "•old settlement fund w i t h # 1 . R. Board . Gold and gold c e r t i f i c a t e s h e l d by banks 1,495,103 ^ 671,-29^-* 678,992 1,376,821 785,731 644, 2b5 1,523,625 675,710 591,'266 Total gold r e s e r v e s Reserves other than gold 2,845,-392" 145,6o0 2,806,817 135,177 2,790,601 144,769 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 2,9yl,952-'' x 7 1 2,941,994 56,889 43,240 2,935,370 56,209 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 : ®onds * 1 Treasury notes 254,041 260,689 319,052 293,515 237,540 217*199 514,930 234,192 612,567 237,569 454,739 231,329 79,139 77,001 68,777 . . . 251,350 233,676 242,365 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 391,081 3,200 3,199 375,317 3,200 4,900 344,477 2,250 10,500 1,146,602 656 59,813 16,874 1,233,553 o4b 701,3*4 59,788 17,966 1,043,^95 637 746,725 60,383 20,788 5,062,911 4,998,511 4,863,407 F. R. notes 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 . 1,707,233 1,737,500 1,626,971 2,242,190 ' a , 763 4,403 18,262 2,239,88b 12,842 5,728 20,694 2,195,601 10,907 4,240 20,354 Total^deposits Deferred a v a i l a b i l i t y items Capital paid i n Sur lus P All other l i a b i l i t i e s 2,286,618 709,39 2 122,766 220,310 16,592 2,279,150 623,289 122,750 220,310 15,512 2,231,702 660,047 115,601 217,837 11,249 5,062,911 4,998,511 4,863,407 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 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 60,^92 64,6*40 33?335 L I A B I L I T I E S ' • TOTAL LIABILITIES ^ Ratio of t o t a l r e s e r v e s t o 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 f o r e i g n correspondents . . . . h „ vt 74.9$ 73-2% 76.1$ 54,088 54,338 35,576 RESOURCES MB LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 14, 1Q26 RESOURCES ( I n thousands of d o l l a r s ) Boston New York P h i l a. Cleve. Rich. A t l a n t a Chicago S t . Louis dold with Federal Reserve Agents 125,192 342,862 101,O36 l 6 8 , 628 41,744 154,224 162,961 17,777 Gold redemption fund with U.S.Treas. 6,737 12,711 5,991 5,372 2,360 3,277 6,172 944 Gold held e x c l u s i v e l y a g a i n s t F. R. notes 131.929 35 5 , 573 1 0 7 , 0 2 7 1 7 4 , 5 0 0 4 4 , 1 0 4 1 5 7 , 5 0 1 1 7 5 , 1 3 9 ^ 1 8 , 7 2 1 Gold s e t t l e m e n t fund w i t h F.R.Beard 552,977 2,977 199,647 60,324 84,429 27,211 24,220 1 3 4 , 8 9 ^ 8,639 Sold and gold c e r t i f i c a t e s 34,703 417,864 23,33 3 39,048 l i | 5 9 9 3,5*7 7 5 ^ 2 6 8 Total gold r e s e r v e s 219,009 973,084 190,684 297,977 82,914 185,248 385, Q©5" 46,628 Reserves o t h e r than gold 14,643 37,022 __4_L91C_ 0 , 7 6 0 6,724 9,523 2 2 , 7 5 3 18,850 Total r e s e r v e s 234,252 1,010,106 195,594 306,737 59 , 635 194,771 407 '65,478 Non-reserve cash 1,010 5,23b13,873 3,415 4,546 4,73b 11,150 3,754 B i l l 3 discounted: 1 0 4 , 9 7 0 29,568 26,510 Secured b.v U.S.Govt, o b l i g a t i o n s 17,292 2,025 24,355 b,0b9 9,717 Other b i l l s discounted 4 0 , 5 5 2 18,828 13,248 30,bS5 36,619 28,574 25,216 15,358 Total b i l l s discounted 32,650 1 4 5 , 5 2 2 43,41b 40,053 40,402 33 , 644 53,229 31,235 B i l l s bought i n open market 26,541 4 9 , l b 2 15,58? 20,995 8,922 24,50b 31,4b9 6,969 U. S. 3cveraiment s e c u r i t i e s : 1,449 Bonds 6,419 5,014 1,695 291 24,413 9,326 6,579 • Treasury r o t e s 9,929 6,383 25,486 6,519 274 25,919 15,077 74,739 10,211 1 0 , 3 2 c C e r t i f i c a t e s of indebtedness 1,696 2,b02 1,250 1,125 5,106 4,795 -2 ) ' -7f%-7 ) 1 1 -? r>L\ i r\~r T'< -> r, ,> i, 1 r , r- />< — — 13,074 - 91,369 21,723 2,000 877 72,808 76,582 4,068 69 rn 7$ Total U.S, Govt, s e c u r i t i e s Other s e c u r i t i e s Foreign l o a n s on gold TOTAL RESOURCES t 1 Total b i l l s and s e c u r i t i e s T*ti3 from f o r e i g n banks Uncollected items Bank premises All other resources 304 37,414 342 9,342 170 256,930 83,028 98,809 58,8 36 656 197,077 16,723 5,520 69,262 1,581 343 76,949 7,409 1,053 61,203 1,545 700 128 - ^ ^ St. K 02Tb Minn. Kans.Cy. P a l l a s San Fran. Total 59,137 50,069 21,202 191,056 1,441,894 2,6)7 2,282 1,500 "2,720 ^,20Q 61,774 52,351 22,708 193,776 1,49^,103 9,318 _» ^ 7',059 29,825 5,'055 10,369 78,151 2,855 51,006 1,333 87,231 4 , 654 91,685 2,581 44,239 254,622 2,845,35s- 6 145,660 7,627 7,339 51,578 262,249 2,991,05-22,159 3,096 56,859 2,071 3,601 4,185 11,862 *3,848 23,129 254,041 12,917 6,272 7,881 16,047 11,015 15,428 5,883 46,977 21,964 514,930 234,192 8,335 9,766 10,10b 20,608 4,404 2,888 20,210 3,574 2,621 33,440 13,746 79,139 251,350 60,592 ll]lb2 ^ 30,079 __ _ / " 30i767 16 671rW^ 678i992 . ' +*** 1,727 2,5H 58,435 26,451 l%,g$g 35,118 2c,072 4^,807 500 438 1 37 1 02 1 25 112 221 656 791^29 393,015 1,530,890 355,818 494,372 216,107 299,747 674,169 177,212 137,638 211,224 135,638 436,821 5,062,911 2,872 1,010 7,933 i,g66 U,m 646 ~ 15,656 2,943 2,317 49,307 4,667 539 28,75 5 391,081 3,200 3,199 46,222 2,364 3312 12 - Oo'l ~ 0 , 5 3 5 1 0 1 , g g f r - 37,589 260,889 1,793 258 3,344 2,941 59,813 16,874 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 - r e s e r v e a c c o u n t Government F o r e i g n bank Other deposits Total deposits Deferred a v a i l a b i l i t y items Capital paid in Surplus All otaer l i a b i l i t i e s 5023c RESOURCES AIM LIABILITIES OF THE FEDERAL RESERVE BAETTS ON JULY 1 4 , 1926 ( I n t h o u s a n d s of d o l l a r s ) C I e v e . R i c h . A t l a n t a C h i c a g o S t . L o u i s Minn. K a n s . C y . D a l l a s San F r a n . T o t a l B o s t o n New York P h i l a . 140,974 397,849 1 25,816 194,541 70,207 184,285 194,617 43,147 62,990 63,321 37,178 192,302 1 , 7 0 7 , 2 3 3 151,885 560,862 131,621 189,634 3,005 1,031 1,520 1,197 420 472 8,791 153 1,385 68,130 79,613 997 190 264 47,636 1,014 l4l 303 87,956 1,395 172 229 54,199 163,574 2,242,190 l.osU 2,149 21,763 155 305 4,403 31 5,822 lg,2b2 965 335 127 n 222, 279 F . 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 53,850 F . R. n o t e s h e l d by F . R. Agent / " " l S ,429 F . R . n o t e s i s s u e d t o F . R . Bank 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.for FRASER Digitized 234 51 153,312 8 7 3 , 8 5 5 1 3 3 , 2 2 5 1 9 3 , 0 1 1 6 9 , 9 5 3 7 3 , 5 6 0 3 4 2 , 4 1 3 8 1 , 0 6 4 4 9 , 0 9 4 8 9 , 7 5 2 55,469 1 7 1 , 9 1 0 2 , 2 8 6 , 6 1 8 709,392 72,247 1 6 0 , 3 8 4 6 3 , 5 1 2 6 9 , 0 1 6 5 6 , 8 8 4 2 7 , 2 3 5 8 7 , 5 3 2 37,177 1 4 , 0 3 4 4 4 , 1 2 0 3 0 , 3 4 6 4 6 , 9 0 5 4 , 2 5 9 8 , 4 0 9 1 22,766 4 , 1 6 8 4 , 9 5 9 1 6 , 6 2 0 5 , 2 6 2 3 , 1 2 8 6,072 5,736 35,422 12,179 13,502 7 , 6 1 5 1 5 ; 0 7 1 • 2 20,310 8 , 9 7 9 8 , 7 0 0 3 0 , 6 1 3 9 , 5 7 0 7 , 5 0 1 1 1 , 9 1 9 17,020 59,964 20,464 22;894 741 2 , 2 1 c 1 6,592 924 1,008 2,374 992 1,091 1,072 72b 3,416 622 l,40g 3 9 3 , 0 1 5 1 , 5 3 0 , 8 9 0 3 5 5 , 8 1 8 4 9 4 , 3 7 2 2 1 0 , 1 0 7 2 9 9 , 7 4 7 6 7 4 , 1 6 9 1 7 7 , 2 1 2 1 37,836 2 1 1 , 2 8 4 1 3 5 , b 3 8 4 3 6 , 8 a 5 , 0 6 2 , 9 1 1 79.6 79.4 75.5 79.1 c4. u 75.5 52.7 72.3 6-J.0 55.7 72.0 74.9 TOTAL LIABILITIES Bes-rve 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 4,139 chased f o r f o r e i g n correspondents m hand ( n o t e s r e c ' d f r o m ^•.K.no^es o F.R.Agent l e s s notes i n c i r c u l a t i o n ) 24,455 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 t o F.R.Bank: Cold and g o l d c e r t i f i c a t e s "Gold redemption fund Gol d f u n d - F . R. Board E l i g i b l e paper 1,538 70,954 33b,12b 2,358 4,707 177 605 71 975 35,300 15,892 74,000 54,491 2,124 1,906 3,757 54,088 7,325 27,020 19,109 14,870 30,306 30,475 5,590 7,11b FEDERAL RESERVE NOTE ACCOUNTS OF SEDERAL RESERVE AGENTS 78b,036 192,27b 258,820 l i b , O 3 7 253,006 401,309 67,917 87,078 113,64b 284,680 39,440 45,170 30,960 68,415 17b,217 19,180 l b , 9 7 2 .43,000 4,962 42,152 316,857 54,577 12,437 2 8 1 , 0 6 0 2,8-6^,041 4 6,oGO 501,35b 152,530 213,b50 8 5,077 214,591 225,092 48,737 70,10o 70,646 42,140 2)4,460 2,024,120 171,698 8,780 25,164 146,000 8,539 9,848 92,497 150,000 56,611 60,538 25,655 14,235 5,089 7,9 8 6 3,317 11,000 132,000 165,644 49.223 61.084 84.579 7,945 1,332 8,500 38.221 1 3,212 1,925 44,000 14.124 4,209 45,560 26.921 17,656 10,000 304,484 2,552 12,561 98,714 1,000 168,195 1,038,696 24.280 68.824 728.899 14,55 3 5,173 5,527 2,666 2,178 7,400 2,342 1,743 103,507 18 5,003 525,865 157,b47 229,16b 9 0 , 9 6 7 217,30s 253,540 55,998 73,261 76,990 4 5 , 4 8 8 259,880 2 , 1 7 0 , 7 9 3 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS 91 d a y s t o Total Over 6 months Within 15 days l 6 t o 30 d a y s 31 t o 60 d a y s 6l t o 90 days 6 months 514,930 212 26,556 39,244 48,459 31,822 368,637 2 3W92 3,391 43,035 55,064 35,544 97,158 6 0,592 • 60,592 1 5 4 , b£3
@FedFRASER