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STATEMENT FOR THF PRESS Released f o r p u b l i c a t i o n F r i d a y morning, J u l y % not e a r l l e r - eg,, s t Federal a e s a r v e ' l l L r f , J u l y 2 9 , 1926. CONDITION OF FEDERAL RESERVE BAITKS 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 t h e F e d e r a l r e s e r v e banks on r j ^ d e p u b : 1 - i c b y t i i e F e d e r a l R e s e r v e Board, shows a n i n c r e a s e of d i s c o u n t e d b i l l s , l a r g e l y o f f s e t by r e d u c t i o n s of $ 1 3 , 9 0 0 , 0 0 0 and $ 6 , 3 0 0 , 0 0 0 , r e s p e c t i v e l y , i n h o l d i n g s of Government s e c u r i t i e s and a c c e p t a n c e s p u r c h a s e d i n open m a r k e t . These c h a n g e s i n b i l l and s e c u r i t y h o l d i n g s were accompanied w i t h a d e c l i n e of $ 9 , o 0 0 , 0 0 0 i n F e d e r a l r e s e r v e / & ° M u l a t i o n and a n i n c r e a s e of $ 9 1 3 0 0 , 0 0 0 i n c a s h r e s e r v e s . H o l d i n g s of b i l l s d i s c o u n t e d f o r member banks were $ 2 4 , 5 0 0 , 0 0 0 l a r g e r t h a n a week ago a t t h e F e d e r a l R e s e r v e Bank of New York and $ 4 , 8 0 0 , 0 0 0 and $ 4 , 2 0 0 0 0 0 l e s s a t t h e S t . L o u i s and C l e v e l a n d b a n k s , r e s p e c t i v e l y . Open-market a c c e p t a n c e h o l d i n g s d e c l i n e d « . 5 , 8 0 0 , 0 0 0 a t t h e B o s t o n r e s e r v e b a n k and $ 2 , 8 0 0 , 0 0 0 a t C h i c a g o f ^ " c r e ' 2 ' s y ^ $ 2 , 4 0 0 , 0 0 0 a t t h e New York b a n k . D e c r e a s e s of $ 1 4 , 8 0 0 , 0 0 0 and $3>SyO,000, r e s p e c t i v e l y , r e p o r t e d i n h o l d i n g s of T r e a s u r y n o t e s and T r e a s u r y c e r t i f i c a t e s were p a r t l y o f f s e t by an i n c r e a s e of $ 4 , 8 0 0 , 0 0 0 i n h o l d i n g s of U n i t e d S t a t e s bonds. The p r i n c i p a l c h a n g e s 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 d u r i n g t h e week c o m p r i s e d e c l i n e s of $ 3 , 8 0 0 , 0 0 0 r e p o r t e d by t h e F e d e r a l R e s e r v e Bank of San $ 2 , 9 0 0 , 0 0 0 by A t l a n t a , a n d $ 2 , 8 0 0 , 0 0 0 by New York, and a n i n c r e a s e of $ 2 , 4 0 0 , 0 0 0 r e p o r t e d by C l e v e l a n d . A summary of 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 banks 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 28, 1926, 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 T o t a l 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 + $9,900,000 + 8,700,000 + 4,100,000 . + 26,000,000 . . + 35,500,000 - 9,500,000 Year + $62,600,000 + 59,800,000 + + + + 85,000,000 53,000,000 17,000,000 36,000,000 6,300,000 + 700,000 . . . - 13,900,000 + 4,800,000 - 14,800,000 - 3,900,000 + + + + 39,100,000 13,600^000 3,600,000 21,900,000 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 , t o t a l Bends 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 during - Federal reserve notes i n c i r c u l a t i o n . . . - 9,600,000 + 72,900,000 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 + + 7,000,000 3,200,000 8,500,000 + + + 60,400,000 52,300,000 11,700,000 C. 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 30, 1 9 2 6 ; n o t e a r l i e r , S t . 5037 a 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 2 8 . 1926 J u l y 21. 1926 J u l y 2Q. 1925 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 1,436,3^*+9 , 683 l,4So,067 ^^J.OOl ^9,247 1,506,248 ?.y» b °.£ 1,498,640 684,2J8 680,576 652,813 683,125 ^1'uS —505,4^1. 2,850,9a 2,842,18 6 2,791,084 148,289 147,091 2,999,210 55,586 2,989,277 56,003 265,239 256,151 229,708 265,721 2,936,633 55,91? . _-.K oon'ioi „ 220,121 521,390 495,429 468,356 B i l l s bought in open market 211,173 217,439 210,476 U , 83,009 229 360 56,870 78,149 244,1S7 60, ' " 1 69,406 225,7|7 * ' 369,239 383,097 33°,l60 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 b a n k s Total sold r e s e r v e s R e s e r v e s ot&er t h a n gold Total reserves ' . « 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 . . . . . . . . Total b i l l s discounted a L r 5 m l 3 n t secnrltles: S L y ' n i 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.Government s e c u r i t i e s g ; i d : : : : : : : : : T o t a l b i l l s and s e c u r i t i e s . . '::: i:::: TOTAL RESOURCES - w o o —1^5' _ i k l L 1,106,302 1,102,165 1,021,3 2 H ll ii 4,863,108 4,924,873 4,679,813 1,671,336 1,680,920 ^ 1,598,397 2 2 2 ^ll'llO L I A B I L I T I E S F. R. notes in actual circulation . . . Member bank - r e s e r v e a c c o u n t . . . . Total d s c o s l t s ZS?tftr».rr.::::: L T Z e ; i u m i t i . ; : : : : : : : : TOTAL LIABILITIES . . . '2°5,1^ J S - S 1 - - S 2,261,026 2,254,052 2,200,530 4,924,873 4,679,813 Tb.O/o ,<& MO |:g • |' ; 1 i | k k 4,863,103 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 . . 76.3? 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 for foreign correspondents . . . . _ 53,7 t + 9 C. ' ?u'2&I 31,961 RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 25, 1926 ( i n t h o u s a n d s of d o l l a r s ) B o s t o n 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 Gold w i t h F e d e r a l R e s e r v e Agents 123,413 362,658 1 0 1 , 5 7 2 1 7 0 , 8 9 7 39,266 147,932 1 68,898 1 9 , 2 7 9 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 . b , 7 3 1 10,007 9,447 2,951 2,5)4 3,982 4,125 1,464 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 130,144 3 7 2 , 6 6 5 1 1 1 , 0 1 9 1 7 3 , 8 4 5 4 1 , 8 0 2 151,914 1 7 3 , 0 2 3 2 0 , 7 4 3 Gold s e t t l e m e n t f u n d w i t h F.R.Board 6 2 , 7 3 2 218,34? 54,518 8 2 , 3 0 7 29,579 22,904 116,516 1 2 , 5 3 2 Gold and gold c e r t i f i c a t e s 414,032 22,971 4 0 , 3 3 9 1 2 , 4 1 8 34,888 3,923_ 76,601 20,003 T o t a l gold r e s e r v e s 227,764 1 , 0 0 5 , 0 4 4 188,508 29b,494 8 3 , 7 9 9 178,741 3 6 6 , 4 4 0 53,278 R e s e r v e s e t h e r t h a n gold 36,041 14,723 4,906 9,024 9 , 9 1 6 24,6 62 15,856 6,997 Total reserves 242,487 1 , 0 4 1 , 0 8 5 193,414 3 0 5 , 5 1 s 9 0 , 7 9 6 188,657 391,302 72,136 4,591 13,152 Non-reserve cash 4,652 1,233 2,897 5,059 10,721 3,855 B i l l s discounted: 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 108,634 27,714 2 2 , 5 6 3 1 1 , 5 0 2 2 , 2 1 5 31,310 6,561 17,950 Other b i l l s discounted 42,204 15,562 9,480 7 , 8 9 3 32,714 4 1 , 3 8 2 27,227 2 3 , 8 0 3 Total b i l l s discounted 27,430 150,838 4 3 , 2 7 6 3 0 , 4 5 6 4 4 , 2 1 6 4 3 , 5 9 7 58,537 30,324 B i l l s b o u g h t i n open market 4,123 18,577 3 3 , 4 4 3 1 7 , 0 0 9 2 1 , 3 4 6 1 0 , 0 5 2 2 5 , 6 9 3 31,077 U. S. Government s e c u r i t i e s : 1,615 5,186 1,902 274 2 3 , 1 7 3 7,076 Bonds 7,765 9,788 26,189 5,816 1 3 ,419 Treasury notes •%536 51,369 1 5 , 1 6 3 2 3 , 8 9 5 1,557 2 , 4 4 8 1 , 6 2 4 30 7,344 1,374 14,735 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 3,735 3,833 S t . 5037b R E S O U R C E 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 F o r e i g n l o a n s c n gold 12,899 T o t a l b i l l s and s e c u r i t i e s Due f r o m f o r e i g n banks Uncollected items Bank p r e m i s e s All other resources 258,506 729 149,011 58,008 4,068 . . 16,728 66 5,592 TOTAL RESOURCES 73,869 - - 99 59,005 - 356 21,723 2,000 123 37,418 139 69 84,131 89,359 63,679 - 50,669 1,584 574 .9,342 - — - 64,372 7,409 1,080 - 50,388 2,364 316 1,861 700 52 57,252 11,153 7,255 75,690 3,048 51,560 33,213 5,665 90,455 4,345 20,552 181,525 1,456,067 684,278 1 2 , 3 5 4 27,823 1 1 , 2 1 4 31,237 650,576 4 4 , 1 2 0 240, 555 2 , 8 5 0 , 9 2 1 5,061 145,289 7,505 78,733 1,192 94,803 2,652 52,181 245,093 2 , 9 9 9 , 2 1 0 2,084 3,49s 55,586 5,551 4,602 5,440 10,102 3,598 14,585 10,183 2,744 15,542 12,102 5,648 3,658 2,492 178 56 19,828 500 41 71,903 146,498 58,891 39,296 - 25,739 2,872 839 56,706 - 24,328 Minn. Kans.Cy. P a l l as San F r a n . T o t a l 55,594 4 5 , 4 6 4 18,968 179,441 1 , 4 3 6 , 1 8 4 1,658 3,11b 1,584 2,034 #.9,683 - - 75,829 7,933 1,884 - 30,023 4,111 676 - 12,394 2,943 2,328 18,483 8,690 21,851 26,597 48,448 20,317 521,390 211,173 10,387 18,435 5,946 3,552 17,980 5,158 3,643 38,013 8,151 23,009 229,360 56,870 34,768 26,690 49,807 369,239 3,200 1,300 62,463 - - 46 51 - 42,848 4,bb7 504 - 90 265,239 256,151 53,9 09 1 1 8 , 6 6 2 1 , 1 0 6 , 3 0 2 729 624,200 2 7 , 8 3 3 37,086 59,821 3,349 1,793 17,260 3,096 255 • - 3 6 8 , 2 2 5 1 , 4 8 4 , 8 0 3 331,605 4 7 0 , 0 3 5 211,398 295,119 634,167 1 7 0 , 4 8 9 136,891 207,937 1 3 8 , 0 5 5 4 1 3 , 7 8 4 4 , 5 6 3 , 1 0 3 L I A B I L I T I E S F.R. n o t e s in 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 deposits 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 RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 28, 1926 s t . 5037c ( i n t h o u s a n d s of d o l l a r s ) Boston New York F 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 138,298 390,959 1 1 8 , 1 3 s 1 8 9 j 3 1 5 6 9 , 9 0 3 183,069 191,414 4 3 , 5 1 2 61,412 63,077 36,S £7 1 8 5 , 3 7 2 1 , 6 7 1 , 3 3 6 144,624 2,304 336 231 8 5 2 , 0 6 5 131,444 1 8 1 , 0 7 7 5,044 811 3,842 2,746 420 473 8,878 144 67O 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 2 1 0 , 5 0 0 F. R. n o t e s h e l d by F . R. Agent 48,900 161,600 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 a s security f o r F . R . n o t e s i s s u e d t o F . R . Bank: 35,300 Gold and gold c e r t i f i c a t e s 9,113 Gold r e d e m p t i o n f u n d 79,000 Gold f u n d - F. R. Board 46.007 E l i g i b l e paper 169,420 Total c o l l a t e r a l go,723 974 190 240 82,127 25,996 5,248 9,570 1,036 49,226 2,687 141 140 5,173 5,827 2,886 7,460 2,342 1,743 2,178 25,704 1 4 , 0 4 9 32,710 30,983 FEDERAL RESERVE NOTE ACCOUNTS OF 7 9 0 , 6 5 1 192,012 260,089 1 1 3 , 5 6 2 281,594 402,614 293,320 38,440 4 5 , 0 7 0 2 9 , 6 1 0 6 5 , 8 1 5 180,217 497,331 1 5 3 , 5 7 2 215,019 8 3 , 9 5 2 215 , 779 222,397 90,203 1,48 6 172 121 55,747 157,569 2 , 2 0 5 , 1 2 6 2,0a 2,238 32,795 155 305 5,954 39 5,602 17,151 35,434 5,327 FEDERAL 69,319 20,480 48,839 2,124 1,906 3,757 53,749 6,l64 8,906 RESERVE AGENTS 85,535 112,041 15,217 4 2 , 8 0 0 70,318 69 , 241 6,232 45,973 341,156 57,336 281,145 2,856,398 14,237 49,800 843,906 4 3 , 0 9 9 231,345 2 , 0 1 2 , 4 9 2 15,156 10,000 301,984 7 , 9 4 5 13,212 171,698 8,780 25,655 14,238 2 , 8 1 2 1 9 , 2 4 9 97,407 2,613 8,694 3,254 1,334 2,382 2,604 24,960 8 , 2 7 5 1 2,117 1 , 0 0 0 1 5 0 , 1 9 2 1 , 0 3 6,993 1 6 6 , 0 0 0 9 3 , 2 9 7 1 5 0 , 0 0 0 1 1 , 0 0 0 1 2 5 , 0 0 0 165,644 1 0 , 0 0 0 4 0 , 0 0 0 4 5 , 8 6 0 2 7 , 1 7 3 6 8 , 7 0 1 708,991 1 69.291 54,033 50,279 53,834 69,222 89,500 34,493 18,904 27,554 531,949 1 5 5 , 6 0 5 221,176 9 3 , 1 0 2 217,154 258,398 5 3 , 7 7 2 74,498 76,018 4 6 , 1 4 1 248,142 2 , 1 4 5 , 3 7 5 R] MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS W i t h i n 15 days 70,702 320,274 2,967 4,917 177 6O5 57 952 7 3 , 9 0 3 326,748 2 3 , 3 8 5 66,273 4,960 16,635 8 , 7 0 0 30,613 1,102 2,484 52,194 9 1 , 9 8 2 57,962 1 6 5 , 7 1 4 2 , 2 6 1 , 0 2 6 147,495 868,733 132,819 1 8 6 , 0 6 2 75,287 570,500 1 1 , 5 6 6 38,740 3 0 , 3 1 5 3 6 , 8 5 0 55,951 1 2 6 , 9 0 3 4 7 , 2 8 5 57,446 4 7 , 0 9 0 4 , 2 8 4 8 , 4 2 8 122,655 3,111 4,183 8,736 35,271 12,203 13,519 6,077 7,615 15,071 220,310 7,501 8,979 17,020 59,964 20,464 2 2 , 8 9 4 1 1 , 9 1 9 1 , 0 1 2 2,349 16,981 1,107 976 725 2,973 696 1,399 1,122 3 6 8 , 2 2 5 1 , 4 8 4 , 8 0 3 331,605 4 7 0 , 6 3 5 211,398 295,119 634,167 170,489 136,891 207,937 1 3 8 , 0 5 5 413,784 4 , 8 6 3 , 1 0 8 61.1 76.3 55.0 70.7 84.8 82.6 77.1 81.4 62.5 73.4 75.5 57*4 69.3 75-5 TOTAL LIABILITIES Reserve r a t i o (per c e n t ) 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 14,214 chassd 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 ( 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 ) 2 3 , 3 0 2 .106,372 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 71,472 3,504 234 77 375,540 66,796 l 6 t o 3O days 29,583 41,517 31 t o 60 days 6l t o 90 days 52,2bl 57,216 43,789 40,799 6 months 20,012 4,845 56,870 Over 6 months 205 Total 521,390 211,173 56,870
@FedFRASER