The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
STA3MK* tt&L THE K3SS Released for p u b l i c a t i o n Friday morning, Juno 17; not e a r l i e r . s t . 51407 Federal Reserve Board, Juno l 6 , 1927. CONDITION OF FEDfefiAL B.&SHSVE BASKS Largely as a r e s u l t of the Treasury's f i n a n c i a l o p e r a t i o n s , the consolidated statement of c o n d i t i o n of the Federal reserve banks on June 15, made public by the Federal He serve Board, shows d e c l i n e s f o r the v/oelt of $38,300,000 i n holdings of discounted b i l l s and $39,100,000 Ifi acceptances purchased i n open market, and i n c r e a s e s of $89,700,000 i n member bank reserve d e p o s i t s , and of $109,200,000 i n Government s e c u r i t / h i d i n g s ox which included $18^,000,000 of temporary c e r t i f i c a t e s i s s u e d by the Treasury t o the Federal reserve banks, pending the c o l l e c t t i o n of the quarterly i n s t a l l m e n t of t a x e s . Total b i l l and s e c u r i t y holdings i n creased $31,200,000 during the week, cash r e s e r v e s $15,500,000, and Federal r e serve note c i r c u l a t i o n d e c l i n e d $18,500,000. The Federal Reserve Bank of New York shows a decrease of $29,300,000 i n i t s discount h o l d i n g s , Boston $ 5 , 4 0 0 , 0 0 0 , St. Louis $3,$00,000, and Kansas City $2,400,000, while the San Francisco bank reports an increase of $2,300,000. The Federal Reserve Bank of New York a l s o shows a d e c l i n e of $32,200,000 i n open market acceptance h o l d i n g s , Boston of $5,400,000, and Dallas $2,300,000. . Total h o l d i n g s of Treasury notes were $33,200,000 below the previous week's | o t a l , while h o l d i n g s of United S t a t e s bonds i n c r e a s e d $4,500,000, and of Treasury C e r t i f i c a t e s $137,900,000. Holdings of Treasury c e r t i f i c a t e s included $135,000,000 of temporary c e r t i f i c a t e s i s s u e d by the Treasury to the New York bank and $50,000,000 to seven other reserve banks pending the c o l l e c t i o n of the quarterly i n s t a l l m e n t of t a x e s . A l l of the Federal reserve banks report a smaller volume of Federal reserve notes i n c i r c u l a t i o n than a week ago, except P h i l a d e l p h i a and Boston, which show i n c r e a s e s of $1,800,000 and $600,000, r e s p e c t i v e l y , the p r i n c i p a l decreases being: San Francisco $5,100,000, New York $4,500,000, Chicago $ 3 , 3 0 0 , 0 0 0 , Atlanta $2,400,000, and Cleveland $2,200,000. 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 reserve banks during the week and the year ending June 15, 1927, f o l l o w s : Increase or decrease during Week Total r e s e r v e s Gold r e s e r v e s + + $15,500,000 10,800,000 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 TJ.S.Govt, o b l i g a t i o n s , . Other b i l l s discounted + - 31,200,000 38,300,000 13,300,000 25,000,000 - 39.100,000 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 . . . C. - 4- + - 4- 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 + + $201,000,000 180,000,000 - 27,500,000 32,400,000 10,800,000 43,200,000 - 50,700,000 — + 109,200,000 4,500,000 33.200,000 137.900,000 + + + 65,000,000 38,400,000 61,100,000 87.700.000 18,500,000 + 10,100,000 83,200,000 89,700,000 22,000,000 + + 182,800,000 160,300,000 600,000 - - Released, f o r p u b l i c a t i o n Friday morning, Juno 17, 1927; not e a r l i e r . St. 5407a EE SOURCES MD LIABILITIES OF THE T'iSLVS F5IJSRAL RESERVE B.1HICS COMBI^D ( i n thousands of d o l l a r s ) June 15.1927 June 3,1927 June 16.1926 R E S O U R C E S Gold with Federal reserve agents Gold redemption fund With U. S. Treasury . 1,675,233 49 , 272 1,634,388 48,765 Gold h e l d e x c l u s i v e l y against F.R.notes 1,7,27,505 1,683,153 1,576,010 531,377 757,763 3,016,645 579,600 743,138 604,S20 655,795 2,236,625 Gold settlement fund with F. R. Board . . Gold and gold c e r t i f i c a t e s h e l d by banks . Total gold r e s e r v e s Reserves other than gold 163,713 Total r e s e r v e s 3,185,35S Non-re serve 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 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 RESOURCES 1,530,551 45,459 147,737 2,984,362 60,546 3,169,901 61,276 190,139 170,803 203,461 195,822 179,30* 214,029 360,942 182,504 399,283 221,635 393,330 233,159 56,169 * 147,534 103,857 293,833 143,104 139,031 155,928 109,183 166,945 206,107 547,224 1,300 438,063 1,800 482,235 3,200 7,502 - Total b i l l s and s e c u r i t i e s . . . . Gold held abroad . . . . Dae from f o r e i g n banks Uncollected items Bank premises A l l other resources 3,005,891 164,010 • - 1,091,970 1,060,781 1,119,426 62,233 662 839,940 59,133 . 13,614 59,548 661 653,969 59,094 15,007 645 832,869 59,735 16,142 . . . . . 5,313,456 5,080,237 5,119,348 . . . . 1,598,294 1,716,779 1,688,150 2,421,163 5,548 4,378 42,577 2,331,460 27,591 5,453 25,963 2,260,827 6,136 6,307 17,6l6 2,473,Sb6 763,523 129,365 228,775 14,673 2,390,467 600,724 129,108 228,775 14,384 2,290,886 779,434 122,804 220,310 17,764 5,313,456 5,080,237 5,119,348 - 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 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 Surplus . . . . . All other 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 . 76.4% 77.2$ 75.0$ 148,535 149,539 55,088 " st .KBSOURCES'AH>- LIABILITIES OF THE FEDERAL RESERVE BASKS OH JUNE 1 5 , 1Q27R E S O U R C E S Total ( 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 Mew York • Phi l a . Cleve. 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 1,678,233 125,665 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 . 49,27 2 6,903 •°°^ d R e l L t e s 1 U S l V e : l y afi31 "5* 1,727,505 132,568 R i c h . A t l a n t a Chicago S t . L o u i s Minn. ICans.Cy. D a l l a s San F r a n . 5%,631 151,29% 2 4 4 , 0 5 0 3.143 1,908 1,055 16,387 1.^7 53,852 L2b0 50,383 l ^ b 2 4 6 7 , 2 6 6 1 3 1 , 5 6 9 200,H65 57,774 153,202 245,105 17,974 55.121 51.841 28,729 1 8 5 , 8 9 1 s - ^ 3 , 0 l 6 , 6 4 5 2 0 9 , 5 6 7 1 . 1 3 0 , 2 2 2 1 9 6 , 1 7 2 292,026 E3serves other than gold 1o8,713 Total reserves Ton-reserve cash 21,889 35.103 5.3%0 10.576 3,185.358 231.456 1 , 1 6 5 , 9 2 5 201.512 302,662 ' 30,5%6 s s 6,330 re 5^7^ 456,944 112,244 195,729 10,322 13,325 %,736 : : Total gold r e s e r v e s - 14,620 1,336 4,272 8 9 , 8 0 3 165,2%3 %11.601 1 : % 59.076 70,763 25.241 18,509 337 98,738 180,199 436,242 77,585 75,100 91.59% 4,070 1,522 2,531 8,935 6,005 S ' g n - t i ",-si , v s 14,956 4,776 8,426 : : S s J'581 ^ 3 , 4 7 3 1J>8 2,j4l8_ g 25,738 3^% 51.704 254,070 7.067 10j304 5 9 . 3 7 1 264,37% 2,834 1 8 S 3.224 a a Total t i l l s discounted 360,9%2 23,302 58,94% 39,226 59,118 19.590 31,474 44,521 17,026 6,152 15,599 5.742 40,248 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 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 182,50% 18,652 32,256 13.364 17,701 8,329 9,860 29,079 11,427 7.013 9,175 8,629 17,019 147,53%. 5 . 7 0 1 3,%15 105,857 1 6,291 293,833 23,008 17,844 158,172 5.132 6,6b4 18,177 16,941 18,683 10,727 4,657 2,383 3.302 2,717 1,327 5,5%7 33,023 9,119 33.230 8,883 11,159 8,788 8,242 5.959 8,214 15.536 6,249 12,062 12,201 5.645 7,970 10,893 17,410 10,7%7 5%7,22% 1,300 25,%07 199,024 29.973 1,000 46,351 10,342 9,591 300 75,372 28,830 23.015 33,853 2o,4l6 39,050 1,091,970 67,361 290,224 83,563 1 23,170 38 , 2 o l pi,225 1 8,97 62,233 662 839,9%0 59,133 13,6l% 4,b67 79,918 3,946 36 17,35% 662 220,628 16,276 3.655 5,974 , 75.359 1,738 195 3,23o ~ 66,927 2,336 309 2,^52 8,586 ~ _ 32,80% 1 1 1 , 7 2 3 3 9 , 3 5 1 3,957 2,900 8,297 879 1 ,°3 <_.—5_ 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 T o t a l " b i l l s and s e c u r i t i e s Gold h e l d a b r o a d "Due f r o m f o r e i g n banlcs Uncollected items Ponk p r e m i s e s All other resources TOTAL RESOURCES c. - — - - 0.597 " 78,978 7,118 1,054 - — — 57.283 2,561 ~ 2,303 %0,787 2,178 96,317 4,356 %%,026 %,%59 717 27,217 1,227 585 46,182 3,505 1,239 36,180 58,627 1,867 l%» 767 2,77% 1,798 5 . 3 1 3 . 4 5 6 393,71% 1,729.3%% 3 6 9 , 6 7 7 5 2 4 . 4 5 1 2 1 5 . 8 7 2 276,088 7 2 4 , 3 6 3 1 8 5 , 6 8 6 1 3 4 , 0 0 8 20%,257 13%.799 4 2 1 , 1 9 7 L I A B I L I T I E S S t . 5i40?c EE SOURCES M D LIABILITIES OF THE FEDERAL .BE SERVE BAMS ON JUNE 1 5 , 1Q2 7. ( I n t h o u s a n d s of d o l l a r s ) T o t a l B o s t o n New York P i i i l a . Cleve. R i c h . A t l a n t a Chicago S t . L o u i 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 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 HurolvLs All other l i a b i l i t i e s 1,698,294 140,085 4o3,807 127,054 211,307 61,880 161,384 221,503 40,922 Minn. i l a n s . C y . D a l l a s San F r a n . 59,757 63,485 34,959 171,651 2,421,163 148,033 997,932 139,020 197,152 70,888 67,137 349,072 88,194 48,587 87,498 5 7 , 4 9 0 1 7 0 , 1 6 0 442 300 335 934 979 392 566 561 380 300 142 5,5*43 217 166 157 3l4 184 620 193 135 1,131 431 476 234 4,378 337 61 3,786 262 161 1.128 437 264 33,064 i4o 1,869 89 42,577 1,116 2,473,666 149,703 1,032,688 139,971 199,797 71,353 68,616 351,799 8 9 , 2 1 6 49,552 8 8 , 3 6 8 58,008 174,595 768,683 76,652 1 8 8 , 5 9 2 6 7 , 7 6 7 73,652 63,444 3 0 , 0 8 1 99,331 39,246 13,161 38,422 28,833 48,902 129,365 228,775 14,673 9,145 17,606 523 38,843 I3,0b3 61,614 21,267 3,800 555 13,853 23,746 1,596 6,206 12,198 791 5,103 17,250 9,632 31,881 672 2,599. 5,289 9,939 1,074 3,005 7,527 1,006 4,217 9,029 736 4,247 8,215 537 9,1^ 16,121 784 5 , 3 1 3 , 4 5 6 3 9 3 , 7 1 4 1 , 7 2 9 , 3 4 4 3 6 9 , 6 7 7 5 2 4 , 4 5 1 2 1 5 , 3 7 2 276,088 7 2 4 , 3 6 3 1 8 5 , 6 8 6 1 3 4 , 0 0 8 2 0 4 , 2 5 7 1 3 4 , 7 9 9 4 2 1 , 1 9 7 TOTAI LIABILITIES — —\ ~ r~s~\ C C r.< 1 C, ~Z O 59.6 68.7 6dr\0 . 31 63.9 7~71r\ 6 . 4Li. 78.3 76.2 81.2 75-5 73.5 74.1 76.4 79.-9 Reserve 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 4,475 5.519 5,221 10,441 7,756 6 , 1 1 6 2 0 , 5 8 4 6,4i4 4 0 , 6 9 1 14,320 15,811 148,535 11,187 chased f o r f o r e i g n correspondents ! n o t e s on h a n d ( n o t e s r e c d f r o m 5,162 51,606 4,112 10,375 F . R . A g e n t l e s s n o t e s i n c i r c u l a t i o n ) 388,423 22,567 125,775 36,190 26,114 14,987 30,852 57,003 3,680 FEDERAL- RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F.R.notes r e c ' d from Comptroller F . R . n o t e s h e l d "by F . R. Agent 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 security f o r F.R. n o t e s i s s u e d to F.R.Bank: Gold and g o l d 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. B o a r d E l i g i b l e paper Total c o l l a t e r a l 2,954,967 247,752 868,250 85,100 2,086,717 162,652 390,901 105,931 1,181,401 525,947 2,204,180 167,619 Total B i l l s discounted B i l l s "bought 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 C. 35,300 16,365 74,000 41,954 360,942 182,504 293,833 321,662 199,344 275,Obl 100,591 269,41b 456,106 66,362r\ 85,238 108,000 57,773 267,657 1 (-*. £Z~7 /! / ! 1 (L ~7 292,080 36,100 37,l40 23,724 77.130 177,600 21,760 21.169 34,i4o 17.657 44.400 529,582 163,244 237,921 7 6 , 8 6 7 1 9 2 , 2 3 6 278,50b 4 4 , 6 0 2 6 3 , 8 6 9 7 3 , 8 6 o 4 o , i 2 i 2 2 3 , 2 5 7 \ 215,150 21,794 220,000 82,302 539,746 12,167 106,077 46.187 164,431 _ x. — — 1— — —> —, Z' ^ ^ ^-v-i —7/*" m 11 1 185,032 JI T 18,228 40,000 7,650 12,267 8,780 3 6 , 4 6 8 1 7 , 0 5 8 1,585 3,523 3 , 3 5 3 1 2 , 6 0 9 9,136 2,050 1,237 11,949 4 , 1 6 3 175,000 14,000 125,100 242,000 7,500 4o,ooo 46,860 6,000 124,864 75,619 27,434 41,181 73.147 28,301 13.036 24,646 1 4 . 1 5 0 5 7 . 1 8 8 271,348 82,115 192,477 317,197 44,688 6 6 : 9 3 8 75,029 4 1 , 9 3 1 2 4 o , 6 6 l MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS 91 days t o 6 l t o 90 d a y s 31 t o 60 d a y s l 6 t o 30 d a y s 3 months Within 15 days 263,414 34,555 !A 23,793 44,800 30,695 37,669 18,299 12,261 19,300 3,219 20,045 Over 6 m o n t h s 44l 88,756
@FedFRASER