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STATEMENT FOR THE PRESS st. 5029 Released f o r p u b l i c a t i o n Friday morning, July 23; not e a r l i e r . F e d e r a l Reserve Board, J u l y 22, 1 9 2 6 . 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 o f t h e F e d e r a l r e s e r v e b a n k s on J u l y 21, made p u b l i c by t h e F e d e r a l R e s e r v e Board, shows a f u r t h e r d e c l i n e of $ 4 4 , 4 0 0 , 0 0 0 i n b i l l s and s e c u r i t i e s , accompanied w i t h r e d u c t i o n s of $ 3 3 , 9 0 0 , 0 0 0 i n member b a n k r e s e r v e d e p o s i t s , $ 2 6 , 3 0 0 , 0 0 0 i n F e d e r a l r e s e r v e n o t e c i r c u l a t i o n , and $ 2 , 0 0 0 , 0 0 0 i n c a s h r e s e r v e s . D i s c o u n t h o l d i n g s d e c l i n e d $ 1 9 , 5 0 0 , 0 0 0 , o p e n m a r k e t a c c e p t a n c e . h o l d i n g s $ 1 6 , 8 0 0 , 0 0 0 , and Government s e c u r i t i e s $ 8 , 0 0 0 , 0 0 0 . The F e d e r a l R e s e r v e Bank of New York shows a r e d u c t i o n of $ 1 9 , 1 0 0 , 0 0 0 i n d i s c o u n t s , B o s t o n a r e d u c t i o n of $ 8 , 5 0 0 , 0 0 0 , C l e v e l a n d • $ 5 , 4 0 0 , 0 0 0 , and P h i l a d e l p h i a $ 4 , 1 0 0 , 0 0 0 . D i s c o u n t h o l d i n g s of t h e A t l a n t a bank i n c r e a s e d $ 5 , ' 2 0 0 , 0 0 0 , of S t . L o u i s $ 3 , 8 0 0 , 0 0 0 , and of C h i c a g o $ 3 , 0 0 0 , 0 0 0 . The New York r e s e r v e b a n k a l s o r e p o r t s a d e c l i n e of $ 1 8 , 1 0 0 , 0 0 0 i n o p e n - m a r k e t a c c e p t a n c e h o l d i n g s . The S y s t e m ' s h o l d i n g s of T r e a s u r y n o t e s d e c l i n e d $ 7 , 2 3 0 , 0 0 0 and of U n i t e d S t a t e s bonds $ 1 , 0 0 0 , 0 0 0 , w h i l e h o l d i n g s of T r e a s u r y c e r t i f i c a t e s i n c r e a s e d $ 2 0 0 , 0 0 0 . Most of t h e F e d e r a l r e s e r v e b a n k s 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 s e r v e notes in c i r c u l a t i o n , the p r i n c i p a l decreases being: P h i l a d e l p h i a $8,100,000, C l e v e l a n d $ 7 , 6 0 0 , 0 0 0 , New York $ 4 , 1 0 0 , 0 0 0 , and San F r a n c i s c o $ 3 , 1 0 0 , 0 0 0 . A summary c f c h a n g e s 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 ]>ariks d u r i n g t h e week and t h e y e a r e n d i n g J u l y 21, 1 9 2 6 , f o l l o w s : Increase or decrease Week Total r e s e r v e s . . Gold r e s e r v e s - $2,000,000 - 3,400,000 T o t a l b i l l s and s e c u r i t i e s . . . . . . . . - 44,400,000 Bills discounted, total - 19,500,000 S e c u r e d by U . S . G o v t , o b l i g a t i o n s . . - 24,300,000 Other b i l l s discounted + 4,800,000 during Year + $54,400,000 + 51,300,000 + + + 87,500,-00 52,900,000 300,000 53»200,000 B i l l s b o u g h t i n open m a r k e t - 16,£00,000 - 7,100,000 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 . . . . + 8,000,000 1,000,0^0 7,200,000 200,000 + + + + 47,800,000 9*200,000 12,900,000 25,700,000 - 26,300,000 - + 75,700,000 - 32,600,000 - 33,900,000 + 2,500,000 + + + 54,^00,000 47,600,000 10,300,000 Federal reserve n o t e s in c i r c u l a t i o n 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 . . R e l e a s e d f o r p u b l i c a t i o n F r i d a y m o r n i n g , J u l y 23, 1926; n o t e a r l i e r . S t . 5029a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( I n t h o u s a n d s of d o l l a r s ) J u l y 21. 1926 J u l y 1 4 . 1926 J u l y 22,192*: R E S O U R C E S Gold w i t h F e d e r a l r e s e r v e a g e n t s 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 u r y . Gold h e l d 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 f u n d 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 . Non-reserve cash . Bills discounted: Sec. by U. S. Government 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 Total b i l l s discounted B i l l s bought i n open m a r k e t U. S. Government s e c u r i t i e s : 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 1,457,001 49,247 1j441,894 53,209 1,456,802 52,473 1,506,24s 1,495,103 *671,516 678,992 1,509,275 688,785 592,790 2,842,186 147,091 *2,845,611 145,660 2,790,850. 143,996 2,989,277 *2,991,271 2,934,846 56,003 56,889 56,932 229,708 265,721 260,889 254,041 230,032 212,490 514,930 442,522 224,525 652,813 683,125 495,429 217,439 234,192 78,149 244,187 79,139 251,350 60,592 333,097 3,200 391,081 60,761 T o t a l U. 5 . Government 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 T o t a l b i l l s and s e c u r i t i e s Bank p r e m i s e s - TOTAL RESOURCES . . 3,200 3,000 1,102,165 726 699,97s 3,199 1,146,602 656 68,905 231,290 35,109 335,304 1,850 10,500 1,014,701 637 16,903 59,821 *790,806 59,813 16,874 644,018 60,397 20,954 4,924,873 5,062,911 4,732,485 1,680,920 1,707,233 1,605,214 2,208,3^7 24,289 4,749 „ 2,242,190 21,763 4,403 2,160,748 13,9o3 5.33S 19,6o9 2,286,618 16,592 2,199,719 582,450 115,715 217,837 11,550 5,062,911 4,732,485 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 . . . Total d e p o s i t s 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 . . •. TOTAL LIABILITIES i6,4er 2,254,052 630,795 122,591 220,310 16,205 4,924,873 o 18,262 709,392 122,766 220,310 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 . . . 76.0$ 74.9# 77-1# 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 c h a s e d f o r foreign correspondents 55,652 54,088 32,165 C. •Revised f i g u r e s R E S O U R C E S RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 21, 1926 ( i n t h o u s a n d s of d o l l a r s ) S t . 5029b 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 San F r a n . T o t a l Gold w i t h F e d e r a l Reserve Agents 125,786 362,759 1 0 3 , 4 4 0 1 7 1 , 3 0 6 4 0 , 3 5 2 1 4 9 , 0 0 7 1 6 8 , 9 3 1 1 7 , 1 2 4 58,137 4 9 , 2 4 7 21,032 1 8 9 , 8 8 0 1 , 4 5 7 , 0 0 1 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 . 5,279 11,283 7.565 3.962 2.515 3,690 5,179 581 2,392 2,729 1,599 2,473 *+9,247 Gold h e l d e x c l u s i v e l y a g a i n s t P- R - n o t e s ~ 131,065 374,042 111,005 175,268 42,867 152,697 1 74,110 17,705 60,529 5 1 , 9 7 6 22,631 192,353 1,506,248 Gold s e t t l e m e n t f u n d w i t h F.R.Board 55,07% 210,105 52,115 7 4 , 9 7 2 26,258 22,941 1 2 1 , 9 1 2 8,303 10,358 3 3 , 1 2 1 8,909 28,745 652,813 Gold and g o l d c e r t i f i c a t e s 35,872 417,562 23,128 41,707 12,134 3 , 6 l 4 7 2 , 5 2 4 20,203 7 , 4 a 5 , 9 5 6 1 1 , 2 2 1 31,783 683,125 Total gold r e s e r v e s R e s e r v e s o t h e r t h a n gold 222,011 1 , 0 0 1 , 7 0 9 186,248 2 9 1 , 9 4 ? 15,044 36,118 5,351 8,833 8 1 , 2 5 9 179,252 368,546 6,876 9 , 3 1 4 23,466 Total reserves 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 discounted 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 237,055 1,037,827 191,599 5,174 13,696 1 , 3 0 9 8 6 , 1 3 5 188,566 3,643 4,518 300,780 3,597 46, 211 19,084 78,308 2,792 91,053 4,403 4 2 , 7 6 l 252,881 2 , 8 4 2 , 1 8 6 7,686 8 , 1 2 4 147,091 392,012 65,295 81,100 95,456 50,447161,005 2,989,277 2,000 3,209 56,003 11,024 4,666 926 2,241 10,327 13,733 83,394 42,990 26,431 1 7,927 24,808 9,787 10,268 32,540 2,142 41,712 28,666 27,584 9,085 26,049 3,783 4,459 5,108 11,409 24,110 24,403 126,384 31,02% 44,358 34,655 22,320 %2,S08 9,349 43,854 26,485 56,250 33,924 35,134 4,157 8,242 8,065 1,309 9,89% 1,795 67,590 6,%18 5,014 10,211 10,326 9,327 25,489 2,602 1,698 6,519 1,125 273 1,310 23,889 28,93S 5,147 6,595 15,077 4,795 8.J36 9,766 1,726 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 F o r e i g n l o a n s on gold 12,998 84,219 37,418 9,342 1,868 57,974 26,467 228 822 21,723 2,000 285 3a 159 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 All other resources 6l,744 242,449 726 172,897 16,728 5,622 85,134 94,714 61,658 TOTAL RESOURCES C. - - - 63,438 4,068 60 16,768 6,383 - 62,922 1,584 327 285 .411 129 19,828 500 96 73,027 1 4 8 , 5 5 9 65,887 36,731 700 - - — 70,462 7,%09 1,065 - 56,911 2,364 303 371,539 1 , 4 8 9 , 9 4 5 342,875 478,027 a 3 , 0 1 4 - 120 - 31,750 2,872 s6o 301,593 - - - - 85,536 7,933 1,872 32,256 4,111 644 14,052 2,943 2,442 646,936 172,859 138,194 4,082 21,55% 229,708 16,517 11,192 17,639 45,478 495,429 20,608 9,757 4,403 2,900 20,210 3,575 33,440 13,746 34,768 26,685 49,807 62,594 13,557 23,92% 8,669 21,078 - - 44,381 4,667 497 - 105 117 - 2,6 a 207 5 3 , 0 9 8 116,570 - 24,264 1,793 276 209,836 131,878 — 41,109 3,349 2,935 265,721 217,439 78,149 244,187 60,761 383,097 3,200 3,000 1,102,165 726 699,978 59, 821 16,903 428,177 4 , 9 2 4 , 8 7 3 L I A B I L I T I E S 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 - 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 o t h e r l i a b i l i t i e s st. 5029c RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON JULY 21, 192b ( 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 . C l a v e . 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 139,105 393,791 1 1 7 , 7 2 6 1 8 6 , 9 2 2 6 9 , 9 7 5 185,986 1 9 1 , 6 7 7 43,332 62,159 63,413 37,637 189,197 1,680,920 142,468 2,009 336 1,543 102 8,048 144,915 F . R . n o t e s i s s u e d t o 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 issued t o F.R.Bank: Gold and gold 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 E l i g i b l e paper Total c o l l a t e r a l 420 143 72,493 330,445 2 8 , 4 0 3 75,159 6,078 4 , 9 5 7 16,627 70,392 53,530 61,063 8,73 6 17,020 59,964 20,464 22,894 11,919 8,700 30,613 700 2,846 656 l,_337_ 1,120 1,054 2,415 371,539 1,489,945 342,875 478,027 213,014 3 0 1 , 5 9 3 646,936 — 7— r — — 73.O —- " 75.1 76.2 9.8 62.8 83.0 16,117 105,680 161,023 171,698 35,300 11,486 79,000 45,518 174,304 25,061 166,000 147.386 510,145 347,220 69,220 99 1,070 190 220 50,076 91,784 54,136 163,369 2,208,327 1,187 1,883 1,023 2,762 24,289 141 172 155 305 4,749 182 114 82,053 51,586 31,636 1 2,725 3,124 1,501 1,099 93,953 38,357 4,184 8,979 950 5,260 9,570 1,008 1 7 2 , 8 5 9 1 3 8 , 1 9 4 209,836 ur\ 5 2 . 1f" "•7 1 . 3->i -j 60.7 31 5,934 16,687 55,345 172,370 2,254,052 26,251 4 0 , 5 5 9 630,795 4,281 8,409 122,591 7,615 15,071 220,310 749 2,271 16,205 131,878 4 2 8 , 1 7 7 4 , 9 2 4 , 8 7 3 -75 4 . 3e)i 7 72.2 76«0 2,124 1,906 3,757 55,652 38,714 26,306 13,710 29,348 3 1 , 6 8 4 5,251 7 , 6 8 2 6,610 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 194,880 262,798 114,645 281,789 399,578 69,203 87,078 112,823 38,440 4 9 . 5 7 0 30,960 66,455 176,217 20,620 1 7 , 2 3 7 42,800 5,427 44,787 337,H7 5,173 5,827 2,886 788,471 289,000 499,471 156,440 213,225 212,873 51,850 W i t h i n 1 5 days B i l l s discounted B i l l s b o u g h t i n open m a r k e t 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 80,573 856,648 1 3 3 , 7 4 4 1 9 0 , 1 0 8 141,481 58,084 63,247 3 5 , 2 1 5 1 2,201 1 3 , 5 1 9 TOTAL LIABILITIES Reserve r a t i o (per c e n t ) 83*5 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 correspondents 4,139 F . R . n o t e s on hand ( n o t e s r e c ' d f r o m 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 ) 21,918 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 F . R. n o t e s h e l d by F . R. Agent 68,927 69,250 328,561 1,171 2,981 322 234 176 605 472 60 66 957 810 842,598 131,493 185,092 4,459 1,688 3,734 - 8,780 83,685 2,178 7,460 215,334 223,361 25,655 3,697 14,237 51,961 70,29% " 3,287 11,143 12,526 5,770 92,297 150,000 11,000 129,000 165,644 53,948 5 5 , 3 3 7 157,358 2 2 6 , 6 4 3 90,040 2,342 1,743 48,583 69,841 7,945 1,179 13,212 1,925 53,901 285,584 2,863,623 1 0 , 8 3 7 51,600 845,586 70,023 43,064 233,984 2,018,037 17,656 10,000 3,387 304,483 2,376 19,526 101,363 1,000 160,354 1,051,155 8,000 43,000 45,260 693,412 39,280 16,238 27,619 26,308 66,479 56,404 74,375 76,866 47,340 256,359 2,150,413 9 2 , 3 1 3 2 1 9 , 3 0 5 258,971 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS 16 t o 30 days 31 t o 60 days 6 l t o 90 days 30,875 43,269 51,458 4S.6S9 44,338 46,754 months° 21,319 g W °Ver 6 m o n t h s 219 ^ Total 495,429 217,439 60,761
@FedFRASER