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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, June 10; not e a r l i e r - St. 5398 Federal Reserve Board, June 9 , 1927. COlIDraOK OF FEDERAL RESERVE BANKS The c o n s o l i d a t e d statement of condition of the Federal reserve banks on June 8, made public by the Federal Reserve Board, shows d e c l i n e s f o r the week of $29,000,000 i n b i l l and s e c u r i t y holdings and of $23,700,000 i n Federal reserve note c i r c u l a t i o n , and i n c r e a s e s of $15,100,000 i n cash reserves and $8,100,000 i n non-reserve cash. Decreases of $97,200,000 i n holdings of discounted b i l l s #ad of $7,400,000 i n acceptances purchased i n open market were l a r g e l y o f f s e t by an increase of $75,500,000 i n holdings of Government s e c u r i t i e s . The Federal Reserve Bank of New York reports a decline of $28,900,000 i n holdings of discounted b i l l s , Chicago a d e c l i n e of $31,700,000, Boston $21,300,000, Philadelphia $ l o , 2 0 0 , 0 0 0 , and St. Louis $12,500,000, while the Cleveland bank reports an increase i n discounts of $11,000,000, and San FranCisco an increase of $4,200,000.- The Mew York bank a l s o reports a d e c l i n e of $10,800,000 i n open-market acceptance holdings. Holdings of a l l c l a s s e s of government s e c u r i t i e s were above the pre oeding week's t o t a l s - Treasury c e r t i f i c a t e s of indebtedness by $31,300*000, United States bonds by $25,200,000, &nd Treasury notes by $18,100,000. The p r i n c i p a l changes i n Federal reserve note c i r c u l a t i o n f o r the week were d e c l i n e s of $13,100,000 reported by the New York bank, $4,200,000 by Philadelphia, and $3,200,000 by San Francisco. A summary of chgftiges i n the principal a s s e t s and l i a b i l i t i e s of the r e serve banks during the week and the year ending June 8, 1927, f o l l o w s : Increase or decrease during Week Total re s er v e s Gold r e s e r v e s . . . . . 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. Govt, o b l i g a t i o n s Other b i l l s discounted + + - $187,400,000 $15,100,000 12,900,000 29,000,000 97,200,000 59,300,000 37,900,000 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 . . Bonds . . Treasury notes C e r t i f i c a t e s of indebtedness . . . + + + + 75,600,000 26,200,000 18,100,000 31,300,000 Federal reserve notes i n c i r c u l a t i o n — Total d e p o s i t s Members' reserve d e p o s i t s Government d e p o s i t s . . . + + + Year 7,400,000 + 172,700,000 — 67,800,000 - 48,900,000 - 10,000,000 38,900,000 - 28,200,000 + 19,800,000 - + 46,100,000 41,100,000 20,800,000 23,700,000 + 23,800,000 23,900,000 23,300,000 + 139,200,000 + 107,000,000 1,700,000 4- + 23,500,000 Released f o r p u b l i c a t i o n Friday morning, June 10, 1927; not e a r l i e r . St. 5398a EE SOURCES MD LIABILITIES OF THE TWELVE FEDERAL RE SERVE BAHKS COMBINED (In thousands of d o l l a r s ) June 8.1927 RESOURCES Gold with Federal r e s e r v e agents Gold redemption fund with U.S. Treasury June 1.1927 June 9. 1926 1,634,388 48,765 1,683,153 579,600 743,138 1,610,437 54.626 601,472 1,472,698 56,536 1,529,234 649,124 Total gold r e s e r v e s Reserves other than gold 3,005,891 2,993,038 160,747 2,833,188 149.341 Total r e s e r v e s Nqn-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 "bills discounted 3,169,901 3,153,785 53,222 2,982,529 203,461 195,822 262,819 399,283 221,635 496,507 228,993 213,484 234,679 448,163 249,821 I43,IO4 139,031 155,928 120,953 124,682 438,063 362,497 . 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 settlement fund with F. R. Board . . Gold and g o l d c e r t i f i c a t e s h e l d "by "banks . 164,010 Total "bills 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 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 . . Foreign loans on gold Total b i l l s and s e c u r i t i e s . . . Gold held abroad Due from f o r e i g n banks Uncollected items Bank premises A l l other resources TOTAL RESOURCES . . . . . . 61,276 1,800 l,665,063 726,503 233,688 116,862 1,800 - 654,330 57,227 103.049 180,147 135,112 418,308 3.885 8,401 1,060,781 1,089,797 59,548 59,548 653,969 59,094 15,007 702,734 58,882 13,898 5,080,237 5.132,526 4,901,784 1,716,779 1,740,432 1.692,939 2,331,460 27,591 5,453 25,963 2,390,467 600,724 2,308,140 2,224,486 4,113 5,200 661 660 1,128,578 - 709 654,385 59,655 18,691 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 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 i n Surplus All other l i a b i l i t i e s ; TOTAL LIABILITIES 25,895 4,687 27.857 129,108 228,775 14,384 2.366,579 653.689 129,036 223,775 14,015 16,454 2,251,263 596,619 122.713 220,310 17,940 5,080,237 5,132,526 4,901,784 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 . . . . 77-2% 76.8# 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 149,539 159,777 C. 75-5$ 60,219 THE FSTEBAL EES3RVE B YHS 017 JUNE 3, 1Q27. St. 5398b (In thousands of d o l l a r s ) Sett York, Phi l a . Clove. Rich. A t l a n t a Chicago S t . L o u i s '.'inn. Kans.Cy. D a l l a s San F r a n , 4 i i , q 4 4 118,639 195,942 55,685 153,786 244,050 16,299 54,312 50,645 24,955 190,503 11,649 12,365 3,580 2,889 1,983 1,745 2,465 973 2,424 1,223 1,702 lESOUP.CiplS AIB LIABILITIES HE S O U R C E S T o t a l Boston f^oid T/ith Fodorai Rosorve \ g o n t s 1,634,388 117,628 Gold redemption f u n d ^ i t h u.s.ireas.43,765 5,767 Gold hold e x c l u s i v e 1;/ against F. E. notes 1,683,153 123,395 Gold settlement fund with ?.R.Board^,oOO Cold -111 gold c e r t i f . held by banks743,138 Total gold r e s e r v e s Reserves other than gold Total r e s e r v e s 49,762 31,988 of 423,593 131,004 199,522 58,574 155,769 . 208,979 485,704 4l,7S4 28,645 3,005,891 205,145 1,118,276 201,433 164,010 19.961 5,617 35,324 245,795 18,764 55,285 53,069 26,178 192,205 9,733 113,685 3,829 54,513 17,913 17,057 12,462 6,962 20,438 7,731 13,318 32,826 294,150 88,907 169,331 413,993 9,275 8,910 14,856 24,660 53,734 18,082 97,817 184,137 438,653 8,468 6,043 4,986 71,815 6,202 13,172 1,382 29,354 25,251 21,094 8,008 12,640 3,894 3,772 5,876 12,162 14,053 23,401 19,374 8,486 30,736 46,345 20,648 7,666 18,038 9,403 26,956 12,695 7.534 9,244 1,910 4,239 6,149 10,915 2,738 2,017 6,829 31,769 13,412 19,243 10,147 8,498 6,590 8,186 15,258 8,665 7.299 11,910 5,923- 12,370 7,417 9,924 9,941 21,114 17,345 13,417 11,584 300 64,424 25,235 21,408 35,833 30,211 48,400 33,791 60,837 3,169,901 225,106 1,153,600 207,050 303,425 "on-reserve cash 6l,276 B i l l s discounted: Secured by U.S.Govt. o b l i g a t i o n s 203,461 Other b i l l s discounted 195,822 6,480 16,020 1,469 3,675 14,030 14,623 54,379 33,834 22,944 15,159 88,213 38,113 64,489 13,009 45,532 12,362 57,894 17,721 23,536 5,150 16,893 24;909 5,424 Total b i l l s discounted 399,283 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 indebtedness 221,635 28,653 24,066 143,104 139,031 155,928 5.532 5.309 7.589 30,605 35,241 17,115 4,54l 21,238 3,593 11,128 , 5,183 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 433,063 1,800 18,430 89,382 30,480 49,259 1,060,781 71.149 4,466 Total b i l l s and s e c u r i t i e s "old held abroad Due from f o r e i g n banks U n c o l l e c t e d items Bank premises All other resources TOTAL RESOTTRCF.S. 59,548 Sol 653,969 59,094 15,007 — 62,995 3,946 34 — 242,084 16,495 66l 154,723 16,276 4,594 5,080,237 374,176 1,604,453 8,215 1,500 - - - 52,023 4,o4o - 137,725 8,218 2,441 58,573 29,819 79,905 2,89s 8,297 1,738 1,481 1,620 206 292 355,552 506,562 209,23s 277,974 682,747 32,805 3,957 978 8 3 , 1 0 2 124,874 5,717 6,312 56,270 59,941 7,118 1,217 41,277 3,097 58,410 2,302 2,561 9.II0 31,332 74,709 31,238 48,612 256,363' 4,o44 7,695 9,979 5,607 78,753 86,845 56,307 266,342 1,607 2,182 2,602 3 , 7 0 4 - - 36,608 63,115 1,786 2,203 12,729 41,085 4,459 905 2,774 1,347 174,735 136,104 - 37,454 17,117 - 47,275 102,971 4,168 2,084 28,404 1,827 597 36,883 3,502 200,794 139,096 418,806 1,236 RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS OH JUNE 3, 1927. ( i n thousands of d o l l a r s ) L I A B I L I T I E S Total Boston New York Phi l a . Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 1,716,779 139,473 408,274 125,239 214,052 62,874 163,830 224,852 4 i , 4 4 4 59.981 63,991 35,994- 176,775 F.E. notes i n actual c i r c u l a t i o n Dooosits: 936,807 i4o,4i5 193,754 69,548 67,670 330,071 81,954 51,372 85,835 56,576 172,552 ?'ember bonk - reserve account 2,331,460 144,906 2,186 2,922 2,328 3,908 1,474 l , 6 s 4 1,069 1,471 2,467 3,478 3,027 1,577 Government 27»591 166 157 314620 184 135 193 234 2,206 476 431 Foreign bank 5,453 337 145 28 3,695 240 227 1,023 61 194 160 18,720 165 1,305 Other d e p o s i t s 25,963 961,211 144,038 197,112 72,765 70,376 335,622 83,861 53,418 87,215 58,232 179.028 Total d e p o s i t s 2,390,467 147,589 130,927 51,398 56,260 54,391 28,359 70,808 33,121 11,158 35,605 31,880 36,959 Deferred a v a i l a b i l i t y items 600,724 59,858 6,206 5,102 16,995 5,289 3,006 4,221 4,247 9,151 38,832 13,064 13,856 9,139 Capital paid i n 129,103 9,029- 8,215 16,121 7,527 6 i , 6 i 4 21,267 23,746 12,19s 9,632 31,881 9,939 irpluc 228,775 17,606 528 1,014 1,081 772 733 so4 2,589 546 675 1,536 511 3,595 other l i a b i l i t i e s 14,384 % TOT'.L LI '3ILITIES 5,080,237 374,176 1,604,453 355,552 506,562 209,238 277,974 682,747 174,735 136,104 200,794 139,096 418,806 74.9 69.4 57.4 59.8 78.6 78.3 72.1 57.3 84.2 78.4 76.9' 73.8 u>oserve r a t i o (per cent) 77• 2 Contingont l i a b i l i t y on "bills par-* 41,695 14,320 15,811 7,756 6,116 20,584 6 , 4 i 4 4,475 5,519 5,221 10,44i chased f o r f o r e i g n correspondents 149,539 11,187 7.R notes on hand ( n o t e s r e c ' d from 128,952 38,400 24-.6S3 15,047 29,733 56,83s 3,769 5,335 10,131 4,500 47,671 I.R.Agent l o s e notes i n circul"> tion)390,306 25,142 FEDERAL RESERVE iTOTE ACCOUNTS OF FEDERAL BE SERVE AGE1TTS 829,306 201,139 271,875 101,645 270,408 459,190 66,973 84,698 101,382 58,151 268,846 . ".R. notes r e c ' d from Comptroller 2,951,128 237.515 72,900 292,080 37,500 33,140 23,724 76,790 177,500 21,760 19,332 27,260 17,657 44,400 844,043 tpT.B. notes hold by ?. R. Agent 2,107,085 164,615 537,226 163,639 238,735 77,921 193,6lS 231,690 45,213 65,366 74,122 4o,494 224,446 =$• • F.B.notes i s s u e d to 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 I.R. notes i s s u e d to F.R.Bank: 18,228 40,000 390,901 35,300 215,150 8,780 36,46s 17,058 7,650 12,267 Gold and gold c e r t i f i c a t e s 3,227 18,775 101,422 18,323 21,794 3,962 .12,162 5,217 4,228 2,050 849 2,045 3,785 Gold redemption fund 3,500 131,728 1,142,065 64,000 175,000 109,677 175.000 i4,ooo 132,500 242,000 7.300 40,000 46,s6o Gold fund - F. R. Board 17,033 54,124 607,560 52,719 147,222 46,019 74,456 27,775 39,943 72,856 33,130 15,134 27,149 Cligib] paper 2,241,948 170,347 '559,166 164,65s 270,398 83,460 193,729 316,906 4-9,429 69,446 77,794 41,938 244,627 Total c o l l a t e r a l MATURITY DISTRIBUTION OF BILLS AliTD CERTIFICATES OF INDEBTEDNESS 1 days to c 0ver 6 moaths Total Within 15 days l 6 t o 30 days 31 t o 60 days #1 to 90 days 6 months 1S,4S4 559 399,283 304,393 23,463 33,729 I8,4s4 18,655 3 i ! l s discounted 10,046 4,119 221,635 122,251 47,147 38,072 B a i l s bought i n open market 77.975 57.96? C e r t i f i c a t e s of indebtedness 155,92s 19,991
@FedFRASER