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Released for publication Friday morning, July 27; not e a r l i e r . STATEMENT FOR THE PRESS St. 58$6 Federal Reserve Board, July 26, 1928, CONDITION OF EEBERAL RESERVE BANKS The consolidated statement of condition of the Federal reserve banks on July 25. made public by the Federal Reserve Board, shows increases f o r the week of $13,k)0,000 i n holdings of discounted b i l l s and of $2,300,000 i n cash r e serves and decreases of $12,000,000 i n holdings of b i l l s bought i n open market, of $1,700,000 i n Government s e c u r i t i e s , of $6,700,000 i n member bank reserve deposits, and of $12,300,000 i n Federal reserve note c i r c u l a t i o n . Total b i l l s and s e c u r i t i e s were s l i g h t l y below the amount held on July IS. The principal changes i n holdings of discounted b i l l s f o r the week were increases of $7*600,000 at the Federal Reserve Bank of San Francisco, $6,000,000 at New York, $5,800,000 at Cleveland and $5,300,000 at Richmond and decreases of $6,900,000 at St. Louis, $6,700,000 at Atlanta, and $6,400,000 at Philadelphia. The System's holdings of b i l l s bought i n open market declined $12,000,000, of U. S. bonds $1,000,000 and of Treasury notes $2,300,000, while holdings of c e r t i f i c a t e s of indebtedness increased $1,600,000. Feddral reserve note c i r c u l a t i o n shows a reduction of $12,300,000 for the week, the principal decreases being $4,000,000 at New York, $3>500,000 at San Francisco and $1,800,000 at Philadelphia. A summary of changes i n 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 25, 1928, follows: Increase or decrease Week Total reserves . . . . . . Gold reserves Year during : + $2,300,000 4,400,000 - $4l9.600,000 - 419.500,000 Total b i l l s and s e c u r i t i e s . . . . . . . . 300,000 B i l l s discounted, t o t a l + 13.400,000 Secured "by U.S. Govt, obligations * * - 18,600,000 Other b i l l s discounted + 32,000,000 + 448,500,000 + 627,000,000 + 375»700,000 + 251.300,000 B i l l s bought i n open market • - 12,000,000 - - 1,700,000 - 1,000,000' - 2,300,000 + 1,600,000 - 177.400,000 - 125,700,000 + cnn'nnn 58,500,000 Federal reserve notes i n c i r c u l a t i o n . . . - 12,300,000 - 55.100,000 Total deposits Members' reserve deposits Government d e p o s i t s . - 2,900,000 - 6,700,000 + 6,600,000 + + + ^.100,000 ^'^O.OOO 2,00 ,0 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 indebtedness . . . . . C. 300,000 Released f o r publication Friday morning, July 27, 1922; not earlier* St. 5856a RESOURCES MB LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of d o l l a r s ) July 25.1928 July 18.1928 July 27.1927 RESOURCES Gold with Federal reserve agents Gold redemption fund with U.S. Treasury 1,119,717 1,130,963 1,652,6o4 1,191,123 1,204,428 1,700,000 732,347 661,912 733,252 $67,132 756,356 2,604,031 157,154 2,599»592 159,244 3,023,488 157,322 2,761,185 64,517 2,758,836 3.180,810 61,072 596,385 428,724 615,027 396,730 220,671 1?7>459 1,011,757 181,035 398,130 169*385 56,024 89,505 63,813 209,342 490 180,784 80,332 123,900 385*016 1»300 1,402,624 953,831 573 626,84-3 60,113 8,628 573 740,451 60,063 8,431 48,719 601,252 59*313 14,923 4,924,182 5,036,074 4,919,920 . . . . 1,606,582 1,618,863 1,661,729 . . . . 2,299,893 20,331 8,651 • 17,241 2,306,632 13,735 10,057 18,618 2,282,035 18,352 5,142 24,496 Total deposits . . . . . . . . Deferred a v a i l a b i l i t y items . . 2,346,116 574,543 2,349,042 672,l60 2,330,018 557,209 71,4o6 . Gold h e l d e x c l u s i v e l y against F.R.notes 680,561 Gold settlement fund with F. R. Board . , Gold and gold c e r t i f i c a t e s held by hanks . Total gold reserves Reserves other than gold 73>465 . . . . . Total reserves Non-reserve cash . . . . . . B i l l s discounted: Secured by U.S.Government obligations . Other b i l l s discounted . . . . . . . . . 65,096 Total b i l l s discounted 1,025,109 B i l l s bought i n open market 169,083 U. S. Government s e c u r i t i e s : Bonds . . . . . 55,044 . Treasury notes . . . . 87,206 C e r t i f i c a t e s of indebtedness . . . . . . 65,391 Total U. S. Government s e c u r i t i e s . 207,641 Other s e c u r i t i e s 490 Total b i l l s and s e c u r i t i e s . . . 1,402,323 Due from f o r e i g n banks Uncollected items Bank premises All other resources . » TOTAL RESOURCES %7,396 L I A B I L I T I E S F. R. notes i n actual c i r c u l a t i o n Deposits: Member bank - reserve account . Government . Foreign bank . . . Other deposits , S S 7 T All other l i a b i l i t i e s . 1 ! * • 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 C. 8 : 20,59% 4,924,182 S f 19»57% 5.036,074 3 $ 12*382 4,919,920 69.9# °9-5> . . Vl-l? 305,452 ^ 305,186 ___ - k Q 151»7 9 RESOURCES AND LIABILITIES Of THE FEDEEMTEESBEI® BAHKff ON j m X ^ , T$28. ' St. 5856b (In thousands of dollars) Total Boston New York Phi l a . Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal Reserve Agents 1,119,717 104,736 175,452 72,270 132,321 23,730 74,594 214,808 23,875 45,148 42,593 15,698 194,492 Gold redemption fund with U.S.Treas. 71»4q6 4,96l 18,026 11,042 5,131 3,589 4,4l6 8,231 5,435 2,845 3,883 1,604 2,243 RESOURCES* Gold held e x c l u s i v e l y against F. R. notes 1,191,123 109,697 Gold settlement fund With F.R.Board 680,561 61,089 " Total gold reserves Reserves other than gold 2,604,031 197,351 157,154 14,795 Total reserves 2,761,185 212,146 64,517 6,508 Son-reserve cash B i l l s discounted; Secured by U.S.Govt. obligations 596.385 25.772 Other b i l l s discounted 4-28,724 4o,6i3 Total b i l l s discounted B i l l s bou^it 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 indebtedness 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 Total "bills and s e c u r i t i e s Due from foreign hanks Uncollected items Bonk promises All other resources TOTAL RESOURCES 20,433 83,312 137,452 27,319 79,010 223,039 47,359 68,338 12,113 7,206 151,399 " ' 8,746 8,359 52,711 1,831 4,118 67,307 58,811 25,265 20,063 37,935 33,370 310,344 87,370 96,746 58,635 28,812 17,079 18,795 7,050 66,385 19,240 55,044 87,206 65,391 704 2,486 4,427 585 14,061 9,723 15,213 l l , 3 4 o 207,641 7,617 30,658 21,648 33,897 1,402,323 573 - 93,242 37 626,843 62,34l 60,113 3,824 8,628 75 4,054 202,140 108,204 1,025,109 169,083 490 . . . . - 29,310 47,993 46,476 17,302 196,735 29,389 18,577 38,361 16,767 35,321 12,524 5,073 7,235 16,487 26,510 888,0a 157,381 247,316 48,178 94,575 427,149 71,223 71,643 92,072 50,556 258,566 8,065 l 4 , l 4 l 11,881 18,864 19,283 15,524 2,388 5,592 5,581 9,510 31,530 919,551 165,446 261,457 60,059 113,439 446,432 86,747 74,031 97,664 56,137 268,076 193,478 194,642 ' 1,384 - - 504 27,843 5,550 - 8,938 3,971 12,532 115,755 56,373 38,636 22,265 31,686 5.282 1,097 2,254 2,499 3,532 9-, 422 14,115 35,677 7,324 8,496 31.881 5,889 15,578 68,905 154,391 53,951 13,213 25,000 22,611 67.558 143 12,793 9,039 10,179 20,l4l l44 19,927 1,153 862 3,289 5,189 1,529 1,898 10,052 7,125 4,519 4,312 2,214 11,139 3,091 4,327 7,819 3,936 3,914 4i 12,414 4.927 3,544 7,125 11,045 490 18,557 - 13,005 5,331 12,807 35,168 - - - 15,669 17,382 — — 369,814 126,097 149,438 69,229 87,241202,366 61,219 37,5^1 52,596 48,459 105,081 218 47 52 25 21 69 21 13 18 17 35 167,632 50,344 58,984 45,402 21,767 79,587 27,251 13,337 4i,035 22,935 36,22o 16,568 1,752 6,806 3,481 2,833 8,720 3,902 2,202 4,308 1,883 3,834 1,375 221 1,258 388 1,294 99% 556 974 M06 510 577 4,924,182 378,173 1,495,591 345,738 482,113 182,638 231,877 747,106 183,667 129,195 198,281 132,440 417,363 L I A B I L I T I E S BBS0UBCE.S .AMD LIABILITIES OF THE FEDERAL HE SERVE BASKS OH JULY 25, 1922. St. 5856c ( i n thousands of"dollars) Total Boston Hew York Phi l a . Cleve. Rich. Atlanta Chicago St. Louis Minn. Kana.Cy. Dallas San Fran. 1,606,532 139,299 336,272 126,31*9 191,889 51,1140 129,096 271,734 56,736 54,723 55,933 29,498 163,863 F.R.notes i n actual c i r c u l a t i o n Deposits: Member "bonk - reserve account 2,299,893 148,081 889,235 132,693 188,535 65,983 64,389 345,495 80,583 50,339 90sS:?g 64,191 179,481 Government 20,331 625 1,681 1,321 1,584 2,901 2,086 1,107 l.oUi 1,031 1,335 1,901 3,668 Foreign "bank 8,651 728 1,678 923 1,010 418 20 2 495 408 1,350 34c 689 350 Other deposits 17,241 77 207 8,915 122 1,162 255 90 1,047 28 4,620 329 3*9 Total deposits 2,346,116 149,511 901,509 135,059 192,291 69,634 66,973 348,999 82,371 51.839 93=0]2 66,46c 182,458 Deferred a v a i l a b i l i t y items 574,543 60,253 141,175 47,231 57,458 42.323 19,548 71,896 27,5*57 11,563 35.413 23,174 36,917 Capital paid i n 143,024 9,895 47,564 14,178 14,271 6,083 5,145 18,211 5,331 3,021 4,202 4,318 10,755 Surplus 63,007 21,662 24,021 12.324 9,996 32,778 10,397 7,039 9,046 233,319 17,893 16,629 All other l i a b i l i t i e s 20,598 1,322 6,064 1,259 2,183 1,134 1,119 3,488 1,145 1,005 675 V'4i TOTAL LIABILITIES 4,924,182 378,173 1,495,591 345,738 482,113 182,638 231,877 747,106 183,667 129,195 198,281 132,44o 4i7,363 Reserve r a t i o (per cent) 63.3 68.1 49.7 69.9 73.4 74.3 62.3 69.5 65.6 58.5 57.9 71.9 76.1 Contingent l i a b i l i t y on M i l s purchased f o r foreign correspondents 305 A52 22,889 86,329 28,993 31,739 15,564 12,818 42,421 13,123 8,240 10,987 10,681 21,668 F.R.notes on hand (notes rec'd from F.R.Agent l e s s notes in circulation) 415*850 28., 574 127,4l6 32,7a 31,394 15,374 27,047 45,639 12,773 7,092 7,847 6,100 73,873 FEDEBAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F.R.notes rec'd from Comptroller 2,822,202 228,823 738,128 184,470 255,313 90,843 223,613 444,473 87,079 80,734 98,990 56,000 333,736 F.R.notes held by F. R. Agent 799.770 60,950 274,440 25,400 32,030 24,329 67,470 127,100 17,520 18,919 35,210 20,402 96,000 F.R.notes issued to F.R.Bank 2,022,432 167,873 463,688 159,070 223,283 66,514 156,143 317,373 69,559 61,815 63,780 35,598 237,736 Collateral held as security for F.R.notes issued to F.R.Bank: Gold "and gold c e r t i f i c a t e s 153,161 50,000 20,396 a,750 352,477 35,300 7,900 14,167 9,803 4o,ooo Gold redemption fund 91,446 11,436 17,291 12,493 I 2 , 3 a 3,334 4,744 1,808 2,975 2,981 3,733 1,895 16,435 Gold fund - F.R.Board 4g,ioo a3,ooo 13,000 28,000 38,860 4,ooo 138,057 675,794 58,000 5,000 59,777 70,000 E l i g i b l e paper 1,160,789 85,606 327,501 90,474 114,593 59,953 81,764 167,057 54,076 25,982 33,908 32,773 87,102 Total c o l l a t e r a l 2,280,506 190,342 502,953 162,744 246,914 83,683 156,358 381,865 77:,.951 71,130 76,501 43,471 281,594 MATURITY DISTRIBUTION OF BILLS AID CERTIFICATES OF IHBEBTEDHESS Total B i l l s discounted B i l l s "bought i n open market Cert I f 1c atas* oil indeb tedness. 1,025,109 169,083 65,39.1 Within 15 days l6 to 30 days 31 to days 6l to 90 days 844,643 57,426 805 38,675 36,340 - 71,495 44,314 - 57,393 25,4io - months° 12,834 5,593 41,428 Over 6 months 69 23,158
@FedFRASER