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Released f o r p u b l i c a t i o n Friday morning, Juno 29; not e a r l i e r . STATE#* FOR THE PRESS St. $82$ Federal Reserve Board, • June 25, 1928. 1 CONDITION OF FEDERAL R3SBR# BAMS The c o n s o l i d a t e d statement of condition of the Federal r e s e r v e "banks on Juno 2J, mado p u b l i c by the Federal Reserve Board, shows i n c r e a s e s f o r the week of $1+1,000,000 i n h o l d i n g s of discounted "bills, of $12,500,000 i n member "bank reserve d e p o s i t s , of $5*300,000 i n Federal r e s e r v e note c i r c u l a t i o n and of $1,000,000 i n cash r e s e r v e s , and decreases of $10,900,000 i n h o l d i n g s of Government s e c u r i t i e s and of $500,000 i n "bi^ls "bought i n open market. Total b i l l s and s e c u r i t i e s were $29,600,000 above the amount h e l d on June 20. The p r i n c i p a l changes i n h o l d i n g s of discounted "bills during t h e week were i n c r e a s e s of $28,700,000 at the Federal Reserve Bank of Chicago, $13,800,000 at Cleveland and $13,000,000 a t P h i l a d e l p h i a , and decreases of $6,600,000 a t Kansas C i t y , $4,500,000 a t New York and $4,100,000 a t St. Louis. The System's h o l d i n g s of Treasury notes i n c r e a s e d $9,300,000 and of U. S. "bonds $2,100,000, while holdings of c e r t i f i c a t e s of indebtedness d e c l i n e d $22,300,000.due l a r g e l y to the redemption of a $19,000,000 temporary Treasury c e r t i f i c a t e hold on June 20. Federal r e s e r v e note c i r c u l a t i o n i n c r e a s e d $5,300,000 during t h e week, the p r i n c i p a l changes being an i n c r e a s e of $3,100,000 a t the Federal Reserve Bank of Cleveland and a decrease of $2,000,000 a t A t l a n t a . 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 r e s e r v e banks during the week and• the year ending June 27, 1928, f o l l o w s : Increase or decrease Week Gold r e s e r v e s + $1,000,000 + 2,400,000 Year - - 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 . Other b i l l s discounted . . . + 29,600,000 4- - 7,400,000 + B i l l s bought i n open market 500,000 - 10,900,000 + 2,100,000 + 9,300,000 - 22,300,000 U. S.Government s e c u r i t i e s , t o t a l Bonds Treasury n o t e s . C e r t i f i c a t e s of indebtedness + 4i,ooo,ooo + 48,400,000 during + + 4" $445,500,000 437,200,000 396,600,000 554,600,000 427,000,000 127,500,000 7,300,000 164,500,000 — 4- 108,100,000 3,600,000 59,900,000 Federal r e s e r v e s n o t e s i n c i r c u l a t i o n + 5»300,000 - 98,100,000 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 + - 17»200,000 3,200,000 15,600,000 C. 15,600,000 + 12,500,000 + 7,800,000 Released f o r publication Friday morning, June 29. 1928; not e a r l i e r . St. 5529a BE SOURCES AND LIABILITIES OP THE TVSL-VE FEDERAL RESERVE BAMS COMBINED ( I n thousands of d o l l a r s ) June 27.1928 June 20.1928 June 29.1927 RESOURCES Gold with Federal reserve agents Gold redemption fund i p t h U. S. Treasury . 1,128,276 63,1+82 1,135.8*40 62,534 1,591,906 42,933 Gold hold exclusively against F,R.notes 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 . 1,191,758 700,173 691,379 1,198,374 694,771 687,772 1,634,839 610,477 775,194 Total gold reserves Reserves other than gold . . '. . . 2,583,310 2,580,917 156,354 3,020,510 163,299 Total reserves . Non-reserve cash p i l l s discounted: Sec. by U. S. Government obligations . . Other b i l l s discounted . . . . . . . . 2,738,284 62,335 2,737,271 64,107 3,183,809 56,109 701,618 330,256 653,196 337,631 274,581 202,730 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 1,031,874 223,432 990,827, 223,882 477.311 216,118 57,979 87,584 66,374 211,937 1^0 55,928 78,260 88,680 222,868 590 166,119 83,985 126,297 Total b i l l s and s e c u r i t i e s Gold held abroad Dae from foreign banks Uncollected itoms Bank premises Aj.1 other resources 1,467,733 1,438,167 1,071,130 571 4,963,462 572 *729,781 60,089 7,902 *5,037,889 5,060,267 1,604,635 1,599,372 1,702,693 2^344,709 11,274 8,703 17,114 2,381,800 582,086 l4o,3l8 233,319 21,304 2,332,162 3*478 10,134 20,388 2,366,162 *678,374 140,309 233,319 20,353 *5,037,889 2,341,519 . . 626,380 60,096 . g,063 TOTAL RESOURCES 376,401 1,300 25,734 26,610 623,523 59,135 14,217 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 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 . . . . . TOTAL LIABILITIES 4,963,462 26,887 5,381 25,165 2,398,952 584,827 129,424 228,775 15,596 5,060,267 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 . . . . 68.7$ 69.0$ 77.6?* Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents . . 305,068 297,824 146,211 C. „ ""Revised f i g u r e s . RESOURCES EE SOURCES fflD LIABILITIES OF THE FEDERAL RESERVE BANKS OH JIJHE 27, 1922. (In thousands of dollars) Total Boston Hew York Gold with Federal Reserve Agents 1,128,276 63,973 175,744 Gold redemption fund m t h U.S.Treas. 63,482 8,382 18,656 Gold held exclusively against F. R. notes 1,191,758 72,355 194,400 Gold settlement fund with F.R.Booxd 700,173 54,488 216,980 Gold and gold c e r t i f . held by banks 691,379 26,576 460,495 Total gold reserves Reserves other than gold 2,583,310 153,419 154,974 15,894 Total reserves 2,738,284 169,313 Son-reserve cash 62,335 6,000 B i l l s discounted: Secured by U.S.Govt, obligations 701,618 55,967 Other b i l l s discounted 330,256 30,324 Total b i l l s discounted 1,031,874 86,291 B i l l s bought i n open market 223,432 37,288 U. S. Government s e c u r i t i e s : Bonds 704 57,979 Treasury notes 2,324 87,584 C e r t i f i c a t e s of indebtedness 66,374 4,549 Total U.S. Govt, s e c u r i t i e s 211,937 7,577 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 Due from f o r e i g n banks Uncollected items Bank premises All other resources TOTAL RESOURCES 1,467,733 131,156 571 37 626,380 60,828 60,096 3,824 60 8,063 4,963,462 371,218 Haila. Cleve. 65,79% 132,566 7,678 5,082 qt k»PQ>, ^ 5 Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 23,902 89,553 215,209 20,068 42,138 45 946 l6 231 237 152 2,138 3,514 6,094 5,230 1.760 1,995 1^705 1U248 73,472 137,648 26,0k) 42,793 63,632 18,785 26,623 39,889 10,426 93,067 221,303 25,298 43,898 47,94i 17,936 238,4oo 5,078 133,397 34,962 8,388 52,083 12,984 871,875 142,888 24l,l69 55,251 106,533 4o6,783 73,244 30,730 7,282 13,654 11,746 17,302 17,516 14,626 27,586 5,546 4o,44s 7,135 24 638 37 386 14,294 26'.94o 77,030 95,524 2,621 6,817 56,868 302,726 6,84l 9,945 902,605 150,170 254,823 66,997 123,835 424,299 87,870 79,651 102,34i 63,709 312,671 20,316 1,857 3,959 66,637 291,638 81,44l 71,666 373,079 36,859 97,582 92,447 23,501 23,459 4,409 13.976 25,916 25,810 16,369 585 9,571 11,454 27,667 5,682 34,754 21,610 33,854 - - 505 - 4,486 5,o47 7,4oi 3,445 18,944 12,669 121,992 25,029 33,083 44,225 34,6l4 25,159 56,894 156,606 50,188 9,225 15,969 17,793 354 52,027 20,233 6,780 9,845 7,125 1,572 246 3,239 1,928 3,530 5,413 36,858 7,125 1,153 805 - - - — ' - - 444,692 142,693 149,760 64,782 78,276 211,257 57,667 217 21 47 21 51 25 69 166,739 53,671 64,659 46,803 20,411 80,078 27,674 16,563 1,752 6,865 3,437 2,832 8,720 3,891 i64 1,159 1,160 407 1,313 530 923 1,552,292 350,354 481,276 186,937 231,735 732,747 181,098 1,185 2,365 2,826 4,764 4,742 2,882 13,184 7,646 14,523 17,926 10,467 4,519 4,230 2,275 lo,64o 2,948 4,444 5,546 4.766 3,448 22,024 8.85? 10,312 30,876 13,921 20,073 7,819 3,811 3,194 4i 12,233 5,062 11,024 18,032 14,82*4 17,336 490 33,683 46,425 39,057 68,285 18 13 17 35 12,834 33,074 22,472 37,137 2,202 4,308 1,868 3,834 4o6 476 913 552 130,481 188,937 130,425 425,962 RESOURCES AND LIABILITIES OF THE FEDERAL BE SERVE BANKS OH JUNE ( I n thousands of d o l l a r s ) Total Boston L I A B I L I T I E S F.B.notes i n a c t u a l c i r c u l a t i o n 1,604,635 134,134 Deposits: Member bank - r e s e r v e account 2,344,709 147,510 Government 11,274 93 Foreign bank 8,703 65s Other d e p o s i t s 17,114 131 Total d e p o s i t s 2,381,800 148,394 Deferred a v a i l a b i l i t y items 582,086 59,406 Capital paid in 140.318 9,933 Surplus 233.319 17,893 All other l i a b i l i t i e s 21.304 i .4rp! 20TAL LIABILITIES k -fsT Reserve r a t i o (per c e n t ) 59.9 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 305,068 22,590 F.R.notes on hand ( n o t e s r e c ' d from F.R.Agent l e s s notes i n c i r c u l a t i o n ) 395,320 24,976 F.R.notes r e c ' d from Comptroller F.R. notes h e l d by F. R. Agent F.R.notes i s s u e d to F.R.Bank Collateral held as security f o r F.R.notes i s s u e d t o F.R.Bank: Gold and gold c e r t i f i c a t e s Gold redemption fund Gold fund - F.R.Board E l i g i b l e paper Total c o l l a t e r a l 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 indebtedness C, for FRASER Digitized 27, 192g. s t . 5229c 334,072 128,233 193,441 52,662'I3l^970a2581,35l° 694^54%' 54??6^' ^31^176*755™ 939,566 133,870 182,894 67,099 65,072 343,840 79,719 9,388 35 98 281 126 499 205 2,401 834 913 448 369 1,220 377 8,168 72 1.214 112 111 1,320 334 959,523 134,811 185,139 67,940 65,678 346,879 80,635 l44,°22 50,061 62,151 46,626 17,892 72,988 27,877 4 4 , 0 1 5 14,195 14,281 6,239 5,209 18,189 5,343 63,007 21,662 24,021 12,324 9,996 32,778 10,397 -6,153—1,392 2.243 1.146 qgp I.P;RR 1S6 69.8 57-1 67.3 > 1.152 7 55.6 62.7 732.^ 70.1 64.5 52,967 89,741 63,807 178,624 224 316 549 181 237 208 53,593 11,203 3,029 7,039 63 623 4,834 90,830 64,234 184,144 29,330 22,872 36,758 4,207 4,326 10,752 9,046 8,527 16,629 1.000 73.6 81 307 39 756 qplt iss 70.3 67.7 86.6 8,132 10,843 10,542 21,385 1,999,955 159,110 88,808 28,6i4 31,325 15,361 12,650 4i,s66 12,952 125,399 25,561 27,788 16,759 30,053 50,308 10,899 6,203 7,994 6,999 62,381 FEDERAL EE SERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 736,07]. 185,094 257,659 93,615 228,393 427,616 84,393 79,684 95,782 58,032 336,936 276,600 31,300 36,430 24,194 66,370 118,950 17,800 18,864 33,020 21,102 97,800 459,471 153,794 221,229 69,421 162,023 308,666 66,593 60,820 62,762 36,930 239,136 355,376 35,300 88,624 10,673 684,276 18,000 1,195,831 123,560 2,324,107 187,533 153,161 17,583 8,617 5,000 57,177 380.146 98,769 555,890 164,563 2,817,335 234,060 817,380 74,950 50,000 20,395 21,750 8,300 14,167 4o,ooo 3,507 4,703 2,209 1,26s 4,971 3,os6 12,303 1,92s 17,513 70,000 63,100 213,000 10,500 23,000 42,860 2,000 179,639 115,182 55,728 72,760 174,273 50.417 22,102 28,267 24,206 50,421 247,74s 79,630 162,313 389,482 70,485 64,240 74,213 40,437227,573 12,566 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS Total 1,031,874 223,432 66,374 Within 15 days 892,122 103,443 736 16 to 30 days 36.139 47,389 31 to 60 days 6l to 90 days 43,934 35,368 23,651 42,764 91 days to 6 i"on S 6,185 42,018 Over 6 months 240 23,620 '
@FedFRASER