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STATEMENT FOR THE PRESS Emo^scu f o r p u b l i c a t i o n F r i day morning, March 11; not e a r l i e r . St..5295 F e d e r a l Reserve Board March 10, 1927• CONDITION OF FEDERAL RESERVE BANKS 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 March 9 , made p u b l i c by t h e F e d e r a l Reserve Board, shows a d e c l i n e f o r t h e week of $47,100,000 i n b i l l and s e c u r i t y h o l d i n g s and of $10,100,000 i n memb e r bank r e s e r v e d e p o s i t s , and an i n c r e a s e of $29,400,000 i n cash r e s e r v e s . Holdings of d i s c o u n t e d b i l l s d e c l i n e d $18,700,000, of a c c e p t a n c e s p u r c h a s e d i n open market $24,300,000, and of Government s e c u r i t i e s $4,000,000. The Federal Reserve Bank of San F r a n c i s c o r e p o r t s a decrease f o r the week of $10,300,000 i n i t s d i s c o u n t h o l d i n g s , St. Louis of $5,700,000, and Cleveland of $5,600,000, while t h e Chicago bank r e p o r t s an i n c r e a s e of $5,700,000. Open-market a c c e p t a n c e h o l d i n g s d e c r e a s e d $8,000,000 a t the Boston bank, $3,600,000 a t C l e v e l a n d , $3,500,000 a t New York, and $3,200,000 at P h i l a d e l p h i a . The S^stemfe h o l d i n g s of Treasury n o t e s were $14,400,000 below the preceding w e e k ' s t o t a l , and of United S t a t e s bonds and of Treasury c e r t i f i c a t e s $6,500,000 and $3,900,000, r e s p e c t i v e l y , above the amount r e p o r t e d f o r March 2. The p r i n c i p a l changes i n F e d e r a l r e s e r v e note c i r c u l a t i o n d u r i n g t h e week were i n c r e a s e s of $3,700,000 and $3,1*00,000, r e s p e c t i v e l y , r e p o r t e d by t h e Federal Reserve Banks of Chicago and A t l a n t a , and a d e c l i n e of $2,700,000 r e p o r t e d by P h i l a d e l p h i a . A summary of changos 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 ending March 9 . 1927. f o l l o w s : I n c r e a s e or decrease d u r i n g Year Week Total reserves Gold r e s e r v e s + $29,400,000 + $222,400,000 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 d i s c o u n t e d . . . . . - + 31,100,000 + 213,500,000 - 18,700,000 - - 10,300,000 - 169,000,000 86,500,000 23,800,000 62,700,000 - 24,300,000 - 19,800,000 TJ. 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 i n d e b t e d n e s s . . + 4,000,000 6,500,000 Federal r e s e r v e n o t e s i n c i r c u l a t i o n + Total deposits 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 . . . B i l l s bought i n open market c. . . . - - + 47,100,000 8,400,000 14,400,000 3,900,000 52,700,000 + 5,000,000 - 107,100,000 + 49,400,000 1,900,000 + 47,100,000 - 28,800,000 - 20,100,000 + 20,500,000 11,500,000 - 10,100,000 - 33,400,000 Released f o r p u b l i c a t i o n F r i d a y morning, l l , 1927; not e a r l i e r . S t . 5295 a RESOURCES 13D LIABILITIES OF THE TWELVE FEDERAL E E S ^ F BA2TXS CONSISTED ( I n thousands of d o l l a r s ) Mar. 9,1927 SE S 0 U 8 C S Mar. 2,1927 Mar. 10.1926 S Gold w i t h Federal r e s e r v e a g e n t s Gold redemption f u n d w i t h U. S. T r e a s u r y . . 1,573,277 47,442 1,534,183 43,204 1,408,708 50,406 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 . 1,620,719 1,577,387 1,459,114 Gold s e t t l e m e n t f u n d 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 "banks . . 599,876 , 792,066 633,998 770,201 692,997 647,047 3,012,661 2,981,586 160,619 162,328 2,799,158 151,682 3,173,280 3,143,914 2,950,84o 68,554 66,755 68,998 Total gold reserves . . . . Reserves o t h e r t h a n gold . Eon-reserve cash B i l l s discounted: Sec. by TJ. S. Government o b l i g a t i o n s . . . Other b i l l s d i s c o u n t e d 240,074 175,865 ¥23 248,-565" 263,904 186,139-6/ 238,521 415,939 264,685 434,644 289,023 284,520 65,413 ^58,888 94,687 157,399 60,437 187,335 111,894 306,929 2,000 310,974 359,666 2,000 3,150 8,798 989,553 1,036,641 1,158,559 65s 616,499 693,213 628,454 . 52,460 12,730 58,38%12,735 59,4O6 17,775 4,919,734 5,012,298 4,884,769 1,718,893 1,716,956 1,671,754 2,221,149 15,189 2,231,271 2,209,698 Total b i l l s d i s c o u n t e d . . . . . . . B i l l s bought i n open market TJ. 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 . 80,251 161,265 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 l o a n s on gold Due from f o r e i g n banks Uncollected items Bank premises All other r e s o u r c e s TOTAL RESOURCES 659 502,425 737 L I A B I L I T I E S P. R. n o t e s 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 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 i t e m s Capital paid in Surplus All other l i a b i l i t i e s TOT ;\L LIABILITIES . 4,650 35,265 4,929 19,767 18,116 48,554 4,784 18,253 2,260,755 2,289,581 2,281,289 539,342 126,788 228,775 10,856 577,943 119,993 220,310 13,480 5,012,298 4,884,769 . 572,160 127,700 228,775 11,451 4,919,734 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. note l i a b i l i t i e s combined is-ii is. 5% 74.6# Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents 96,480 95,834 83,009 C. R E S O U R C E S K2 RESOURCES AND LIABILITIES OF THTTf FBIS1RAL IffiSSRl® BAfTKS OH MARCH 9 , 1927.( 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 Bew York P h i l a . Cleve. R i c h . A t l a n t a Chicago S t . L o u i s frSMSS Relnotes'LUS1Vely 107,370 %id 382,698 127,11% 1 9 0 , 7 4 5 5291669 67,302 159.683 205,587 %*&> Piqif 33,489 st Minn. 62,196 %:4% ^#:7% * 5295% Kans.Cy. D a l l a s San F r a n . 3 70,079 7 Total l:ir l:f^M 38,936 175.520 1 , 6 2 0 , 7 1 9 liih ^ y l m'As Total gold r e s e r v e s Reserves other than gold 184,428 1 , 0 5 1 , 7 4 6 206,539 312,699 102,912 192,110 385,720 20,787 33,815 4 , 4 6 4 10,899 9,847 11,743 24,693 72,509 19.038 84,965 107,000- 6 8 , 4 0 1 243,582 3 , 0 1 2 , 6 b l 4,083 4,960 7,812 8,472 l6o,6i9 Total reserves ?on-reserve cash 205,215 l , 0 8 5 , 5 6 l 211,053 323,598 112,759 203,853 4 l 0 , 4 l 3 7.966 21,026 1,871 3,908 5.807 4,446 9.563 91.547 4,ooi 89,048 111,966 1,105 2,437 ' 1 S r S ? ^ y i l g r t l 0 M -frgf Total M i l s discounted B i l l s t o u # t in open market EhZ" T o t a l U.S. Govt, s e c u r i t i e s 36.800 32,258 T o t a l b i l l s and s e c u r i t i e s E I I E : TOTAL RESOURCES \l-M n j S A S 1 $ 31:5# 113.122 76,340 34,005' 30,977 13.981 23,620 23,137 9,645 *:"n m % _ 27,980 60,528 10,784 11,391 32.533 3,723 if s i 1:S '11 a ':§ 3 1 M 9,774 54,118 2,320 other securities 76,213 252,054 3, 173, 280 2,507 3.917 68,554 19,928 9 - 2,000 78,832 243,580 69,914 ^ " i ";i • 36,598 7,059 ] 91,195 39.891 3,051 9.078 7,051 12,063 1:3 H 2.709 9,236 45,745 25,712 415.939 264.08, .1:1 » ! 46,541 22,830 16,481 28,069 24,335 38,876 306,929 2,000 4 l , 6 9 l 159.652 42,337 2S,6l0 47,188 36,330 110,333 989.553 I i s -:i % i l 350,449 1 , 5 1 2 , 1 9 1 336,251 481,187 210,851 282,068 672,339 174,238 135,447 210,103 144,518 410,042 4 , 9 1 9 . 7 3 4 RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS OH MARCH 9, 1527. St. 5295c ( I n thousands of d o l l a r s ) L I A B I L I T I E S Boston New York P h i l a . Cleve. Rich. A t l a n t a Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. T o t a l F»R.notes i n a c t u a l c i r c u l a t i o n 126,581 4 i 4 , 4 o s 116,192 206,376 73,376 168,370 221,497 44,415 64,536 68,582 41,598 172,962 1,718,893 Deposits: "ember bank — r e s e r v e account 142,822 349,194 136,906 184,257 70,312 71.909 3 2 1 , 4 i 4 81,316 46,259 87,916 60,791 168,053 2,221,149 15,189 58 426 480 710 130 370 Government 11,838 315 89 307 383 4,650 188 161 376 220 741 231 4o3 199 Foreign bank 768 515 569 279 82 19,767 165 3,529 50 104 896 239 12,926 152 1,387 "128 Other d e p o s i t s 109 Total deposits Deferred a v a i l a b i l i t y i t e m s Capital paid in Surplus Ml o t h e r l i a b i l i t i e s 143,717 53,272 8,888 17,606 385 874,726 137,888 186,302 120,719 47,639 49,718 38,152 12,917 13,860 6 l , 6 l 4 21,267 23,746 2,572 348 1,185 71,026 47,323 6,178 12,198 750 72,291 323,477 26,285 76,026 5,029 16,981 9,632 31,881 46i 2,527 350,449 1,512,191 336,251 481,187 210,851 282,068 TOT\L LIABILITIES 84.2 82.4 78.1 Reserve r a t i o ( p e r c e n t ) 75*9 83.1 84.7 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 c o r r e s p o n d e n t s 7,188 9,200 10,158 4,983 3,929 27,193 F . R . n o t e s on hand ( n o t e s r e c ' d from 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 8 , 9 0 2 118,599 48,024 26,647 15,584 26,159 FEDERAL RESERVE NOTE Pw, R. n o t e s r e c ' d from Comptroller 249,083 825,087 192,916 275,963 114,074 255,154 F. R. n o t e s h e l d by F. R. Agent 292,080 28,700 42,940 25,114 60,625 93,600 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 as s e c u r i t y f o r F.R. n o t e s 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 f u n d Gold f u n d - F. R. Board E l i g i b l e paper Total c o l l a t e r a l 82,266 31,519 5,290 9,939 809 47,295 12,102 3,017 7,527 970 88,567 39,166 4,207 9.029 552 61,159 172,o4i 2,260,755 28,815 39,576 572,160 4,294 8,887 127,700 8,215 16,121 228,775 437 455 11,451 672,389 174,238 135,447 210,103 144,518 4l0,042 4,919,734 72.3 79.6 71.2 74.2 73.1 79-7 75.3 4,121 13,225 2,875 3,546 3,354 6,708 96,480 6,696 40,188 378,862 47,198 3,675 4,787 12,403 ACCOUNTS OF FEDERAL RESERVE AGENTS 424,595 71,190 86,865 107,155 65,841 262,650 2,930,573 832,818 155,900 23,100 17,542 26,170 17,547 49,500 155,483 533,007 164,216 233,023 88,960 194,529 268,695 48,090 69,323 80,985 35,300 12,896 54,000 69,058 171,254 213,662 8,780 22,617 10,539 12,550 136,000 109,677 165,000 176,453 45,313 53,782 548,732 165,529 240,112 28,805 15,422 3,646 8,115 2,385 34,000 134,000 195,000 28,729 38,835 112,758 95,180 196,372 310,143 7,750 2,345 22,300 19,078 51,473 13,507 1,172 46,000 11,782 72,461 18,308 30,000 371,534 3,958 4,417 15,215 99,855 62,860 15,000 128,051 1,101,888 18,846 # 1 1 , 8 7 8 71,222 657,734 85,664 48,294 213,150 2,097,755 49,603 244,488 2,231,011 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS Within 15 days B i l l s discounted B i l l s bought i n open market He r t i f i c rrbe s of i ndebte dire a s 325,347 126,376 l 6 t o 30 days 31 t o 60 days 6 l t o 90 days 24,047 57,634 35,699 54,832 20,976 22,587 ^1 7,529 3,256 118,999 Over 6 months Total 2,341 415,939 264,685 161,265 42,266
@FedFRASER