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STAILMENT FOE THE PRESS Released f o r p u b l i c a t i o n Friday morning, June 8; not e a r l i e r . St. 5S05 . Federal Reserve Board, June 7, 192S. CONDITION OF FEDERAL RESERVE BAMS The c o n s o l i d a t e d statement of condition of Federal reserve "banks on June 6, made public by the Federal Reserve Board, shows i n c r e a s e s f o r the week of $38,200,000 i n holdings of discounted "bills, of $271500,000 i n member bank reserve d e p o s i t s , of $5>100,000 i n Federal reserve note c i r c u l a t i o n , and of $3,900,000 i n cash r e s e r v e s , and decreases of $37,600,000 i n holdings of b i l l s bought i n open market, and of $9,400,000 i n Government s e c u r i t i e s . Total "bills and s e c u r i t i e s were $8,800,000 below the amount held on May 29. The p r i n c i p a l changes i n holdings of discounted "bills during the week were increases of $43,500,000 at the Federal Reserve Bank of New York, $13,400,000 at Cleveland, $6,300,000 at Atlanta, and $5,300,000 at San Francisco, and decreases of $19,700,000 and $6,600,000, r e s p e c t i v e l y , at Philadelphia and Chicago. The System's holdings of "bills bought i n open market declined $37,600,000 and of c e r t i f i c a t e s of indebtedness $22,900,000, while holdings of Treasury notes i n creased $11,000,000, and of U. S. bonds $2,500,000. Federal reserve note c i r c u l a t i o n increased $5,100,000 during the week, the principal changes being i n c r e a s e s of $5,000,000 at the Federal Reserve Bank of Chicago, $3,500,000 at San Francisco, and $3,200,000 at Boston, and a decrease of $6,100,000 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 June 6, 19:23, f o l l o w s : Increase or decrease Week Total re s e r v e s Gold reserves . . . — , . 4- • + . 4- 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 . . 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 $3,900,000 2,100,000 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 U.S.Govt, o b l i g a t i o n s Other b i l l s discounted . . . . — + • — + - 9,4oo,ooo 2,500,000 $408,500,000 396,900,000 4* 392,700,000 8,800,000 37,600,000 * mm 38,200,000 16,700,000 21,500,000 during + + + + 582,700,000 447,700,000 135,000,000 44,800,000 22,900,000 - 228,000,000 80,100,000 62,700,000 85,300,000 5,100,000 - 118,400,000 11,000,000 16,200,000 27,500,000 6,500,000 - — + + - 33,400,000 53,400,000 11,300,000 Released f o r p u b l i c a t i o n Friday morning, Juae 8, 1928; not e a r l i e r . St. 5805a RESOURCES AID LIABILITIES OF THE THELVB Z3DEJL4I, EESBBVE MITES 001.3IKED . (in thousands of d o l l a r s ) June 6,1928 Mav 29.1928 June 8.1927 RESOURCES Gold with Federal reserve agents . . . . Gold redemption fund with U.S. Treasury 1,109,015 65,603 1,122,150 64,051 1,634,388 Gold held e x c l u s i v e l y against F.R.note 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 1,174,613 781,767 652,563 1,186,201 Total gold r e s e r v e s Reserves other than gold 2,608,g4s 152,461 637, 466 2,606,867 150,626 1,683,153 579,600 743,138 3.005,891 Total re s e r v e s 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 . 2,761,409 2.757,493 63,042 59,782 651,184 330,814 634,482 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 e n r i t i Other s e c u r i t i e s Total b i l l s and s e c u r i t i e s Gold h e l d abroad Due from f o r e i g n banks Uncollected items . . Bank premises All other resources . . 783,200 309.309 943,791 i64,oio 3,169,901 61,276 203,461 195,822 399,283 221,635 981,998 266,394 303,988 63,011 ' 60,462 70,669 210,032 1,090 143,104 139,031 155,928 219,426 1,459,514 1,468,295 438,063 1,800 1,060,781 571 ,572 76,352 65,370 93,594 1,090 675,626 60,028 630,675 60,013 9,157 5,029,347 9,487 59,548 f. ,661 653.969 59.094 15,007 4,986,317 5,080,237 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 . . . . . . . . . 1,598.370 1,593,319 1.716,779 2,384,830 16,337 17,375 2,357,323 22,847 7.326 . 20,111 2,331,460 27,591 5,453 25,963 . Total deposits 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 . 2,423,822 2,407,607 615,204 594,069 139.599 233,319 lg,4o4 2,390,467 600,724 129,108 228,775 14,384 4,986,317 5,080,237 TOTAL RESOURCES L I A B I L I T I E S TOTAL LIABILITIES 5.280 139.631 233,319 19,001 5,029,347 Ratio of t o t a l r e s e r v e s to deposit and F. R. note l i a b i l i t i e s combined . . 68.756 68.9# 77.2# 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 276,582 266,659 149.539 RESOURCES B3TS0URCBS MD LIABILITIES Of THE-IB^ERAL RESERVE BANKS' ON JUNE 6 , 1928.( I n thousands of d o l l a r s ) qt Total Boston New York Phi l a . Cleve. Rich. 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 Fran. Gold with Federal Reserve Agents 1 , 1 0 9 , 0 1 5 71,572 1 7 5 , 9 2 5 82,017 151,903 26,832 84,123 215,358 18,179 3 8 , 4 8 9 4 l , 8 7 7 17 578 185 162 Gold redemption fund with U . S . T r e a s . 6 5 , 6 0 3 7,877 18,136 7,337 5,042 2,824 4,338 6,285 4,719 4,244 2,111 1*349 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 1,174,618 Gold s e t t l e m e n t fund with F.R.Board 781,767 Gold and g o l d c e r t i f . h e l d by hanks 652,563 Total g o l d r e s e r v e s R e s e r v e s other than g o l d Total reserves Non-reservo cash B i l l s discounted: Secured by U.S. Govt, o b l i g a t i o n s Other "bills d i s c o u n t e d 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 n o t e s 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 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 2,6os,948 152,461 79,449 63,467 24,591 167,507 16,099 2,761,409 183,606 63,042 5,742 651,134 42,058 194,061 89,354 156,945 29,656 8 8 , 4 6 i 221,643 9,501 155,819 10.550 51.706 174,739 246,584 30,422 6,762 14,777 22,898 18,919 186,511 39,000 12.146 42,733 24,883 4.768 43,988 38,439 6.548 22 046 l4.Vs 6 6 , 3 0 5 108,512 431,168 11,227 15.4-11 17.119 74,244 13,838 72,384 2.959 88,975 55,268 6,917 252,264 7,963 8^47 901,420 181,501 261,361 20,627 l , 8 4 l 4,820 7 7 , 5 3 2 1 23,923 448,307 4,382 4,602 7 , 9 1 4 88,082 3,6o4 75,343 1,425 95,892 2,076 63,231 261,211 2,566 3,443 264,217 412.720 58,905 26,480 51,945 37.694 870,998 16,809 19.840 330,814 36,493 274,835 90,519 18,898 58,331 27,033 16,532 28,200 19,262 43,356 97,012 24,143 25,974 23,696 6,136 2,892 14,403 4,853 7,622 13,559 981,998 78,551 365,354 60,823 85,364 44,732 32,022 62,618 121,155 49,670 22,621 12,475 69,607 46,598 32,005 25,862 11,085 20,634 29,656 9,028 266,394 529 19,943 12,794 15,552 19,714 63,011 817 1,917 4,853 7,100 8,433 17,351 687 9,192 .11,728 27,228 .21,887 3,868 7,125 4.575 4,026 2,428 10,737 2,591 4,702 7,896 3,536 7,587 32,884 21,607 100 35,679 7,125 11,029 990 88,602 186,490 57,324 40,990 a 27,591 2,832 1,385 21 33,428 3,892 554 13 14,242 2,202 829 76,352 70,669 210,032 1.090 1 , 4 5 9 , 5 1 4 118,160 71 675,626 60,028 9,157 37 63,964 3,824 57 41,925 624 1,191 5,884 1,678 209 3,116 2,025 33,736 3,534 5,350 444,836 1 1 4 , 5 3 5 1 ^ , 9 6 2 59,351 217 178,398 10,563 1,686 47 55,236 1,752 200 5 , 0 2 9 , 3 4 7 375,390 1 , 5 6 3 , 7 4 7 3 5 5 , 1 6 2 51 59,o6i 6,865 1,412 665 25 56,79s 3,378 396 478,532 201,862 9,924 69 83,329 8,720 94l 248,956 735,770 8,218 36 736 pqlm.7 56,048 163 11,780 5,431 18,030 4,695 16,127 17,344 53,445 44,154 106,665 is 17 35 4,308 552 1,858 l|64 3,834 681 37,037 29,435 37,057 186,905 135,044 193,328 141,725 412,926 RESOURCES AIIO LIABILITIES OF THE FEDERAL RESERVE BAUZS OH JUIIE 6, 1928. St. 5805c (In thousands of d o l l a r s ) Total Boston New York R i i l a . Cleve. Rich. Atlanta Chicago St..Louis Minn. Kans.Cy. Dallas San Fran. F„R,notes i n actual c i r c u l a t i o n 1,598,370 132,232 338,181 125,089 192,367 55,169 137,897 257,5^ 55,312 55,210 56,538 31,893 160,934 I?poBits: Member "bank - reserve account 2,384,330 152,61s 948,4i6 141,654 187,625 71,089 68,089 347,835 80,470 55,024 88,805 64,1)01 178,804 Government 16,337 482 2,483 1,026 617 2,161 1,785 2,241 457 1,234 799 1,487 1,565 Foreign "bank 5,280 426 204 199 4o3 238 789 2V1 1,206 539 590 289 153 Other d e p o s i t s 231 629_ 38 4,991 17,375 92 8,427 93 1,171 84 94 1,212 313 Total d e p o s i t s 2,423,822 153,618 960,532 143,312 190,003 73,623 70,206 352,077 81,1484 56,642 90,437 00,125 185,763 Deferred a v a i l a b i l i t y items 615,204 60,543 152,709 4q,826 55,776 53,378 24,733 72,053 33,345 12,122 32,354 30,336 38,029 Capital paid i n 44,n6 i 4 , n 4 14,294 6,253 5,204 18,129 5,324 3,035 4,211 4,326 10,746 139,631 9,879 Surplus 63,007 21,662 24,021 12,324 9,996 32,778 10,397 7,039 9,046 8,527 16,629 233,319 17,893 A l l other l i a b i l i t i e s 19,001 1,225 996 742 518 825 5,202 1,159 2,071 1,115 920 3,185 1,043 TOTAL LIABILITIES 5,029,347 375,390 1,563,747 355,16 2 478,532 201,862 2^,956 735,770 186,905 135,044 193,328 141,725 412,926 Reserve r a t i o (per cent) R 68.7 64.2 69.4 67.6 68.4 60.2 59.5 73.5 64.4 67.4 65.2 64.5 75.3 Contingent l i a b i l i t y on h i l l s parchased f o r f o r e i g n correspondents 276,582 20,332 81,937 25,754 28,194 13,826 11,386 37,682 11,657 7,319 9,759 9,488 19,24s F . P . n o t e s on hand ( n o t e s r e e ' d from I.E.Agent l e s s n o t e s i n c i r c u l a t i o n ) 369.112 26,077 119,300 30,928 26,69s 17,582 28,625 44,167 10,612 6,101 6,756 5,154 47,112 WTFWIj RESERVE VTOTE ACCOTBTTS OF WW*XL KRSRRVR AGEFTS F.R. n o t e s r e e ' d from Comptroller 783,792 232,659 738,961 180,917 253,095 97,565 230,612 417,465 84,744 81,035 97,714 59,379 309,646 F.R. notes h e l d "by F.R. Agent 816,310 74,350 281,480 24,900 34,030 24,814 64,090 115,750 18,820 19,724 34,420 22,332 101,600 1,967,482 158,309 457,481 156,017 219,065 72,751 166,522 301,715 65,924 61,311 63,294 37,047 208,046 F . R . n o t e s i s s u e d to F.R.Bank C o l l a t e r a l h e l d as s e c u r i t y f o r F.R.notes i s s u e d t o F.R.Bank: 12,303 4o,ooo Gold and gold c e r t i f i c a t e s 8,300 14,167 354,607 35,300 153,161 50,000 21,375 20,001 Gold redemption fund 17,764 7,o4o 11,903 5,457 9,122 2,358 1,379 1,322 3,017 2,275 18,285 98,994 18,272 Gold fund - F.R.Board 55,000 213,000 8,500 23,000 38,86o 3,000 126,877 655,414 18,000 5,000 74,177 90,000 E l i g i b l e paper 1,197,134 110,554 384,081 74,570 110,572 52,168 83,174 150,650 49,907 28,936 35,251 28,007 89,264 Total c o l l a t e r a l 2,306,149 182,126 560,006 156,587, 262,475 79,000 167,297 366,00s 68,086 67,425 77,128 45,585 274,426 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF IITEEBTEIHBSS, AITD MUNICIPAL WARRANTS 91 days to Over 6 months Total 'Tithin 15 days l o to 30 days 31 to 60 days bl to 90 days o months F i l l s discounted 844,070 18,167 981,998 27,24o 56,673 453 35,395 I i l l s "bought i n open market 266,394 83,708 78,334 6,073 23,722 74,557 C e r t i f i c a t e s of indebtedness 70,669 56,874 13,795 J/'unic-ipal. 100 100 w.arrant s- ^. L I A B I L I T I E S
@FedFRASER