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STATEMENT FOR TH1-: PRESS Released f o r p u b l i c a t i o n Friday morning, Mar. 19; not e a r l i e r . CONDITION OF FED TL-.L R % $V3 BANKS St.4883 F e d e r a l Reserve Board, March 18, 1926. 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 17, 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 of #21,800,000 i n h o l d i n g s of d i s c o u n t e d b i l l s , of ^27,400,000 i n a c c e p t a n c e s p u r chased i n open market, and of #7,100,000 in Government 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 went down $56,900,000 and 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 312,500,000, w h i l e c a s h r e s e r v e s i n c r e a s e d 613,800,000. Largely a s a r e s u l t of t h e T r e a s u r y ' s f i n a n c i a l o p e r a t i o n s on March 15, which included t h e redemption of s e c u r i t i e s maturing on t h a t d a t e , member banks in t h e New York d i s t r i c t reduced t h e i r borrowings f r o m t h e F e d e r a l r e s e r v e bank by #51,800,000. Discount h o l d i n g s of t h e Chicago bank d e c l i n e d | 9 , 5 0 0 , 0 0 0 , w h i l e t h o s e of A t l a n t a i n c r e a s e d $ 1 3 , 0 0 0 , 0 0 0 , San F r a n c i s c o - #12,300,000, P h i l a d e l p h i a ' s , 5 0 0 , 0 0 0 , and S t . Louis — !jf5,400,000• A l l of t h e F e d e r a l r e s e r v e banks show smaller h o l d i n g s of a c c e p t a n c e s purchased in open m a r k e t , t h e p r i n c i p a l d e c r e a s e s b e i n g : New York #11,700,000, A t l a n t a $ 3 , 6 0 0 , 0 0 0 , and P h i l a d e l p h i a # 3 , 3 0 0 , 0 0 0 . Holdings of Treasury 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 i n c r e a s e d #101,400,000, of which $99,000,000 r e p r e s e n t s a temporary c e r t i f i c a t e i s s u e d by t h e T r e a s u r y t o t h e F e d e r a l Reserve Bank of Now York pending t h e c o l l e c t i o n of t h e q u a r t e r l y i n s t a l l m e n t of t a x e s . Holdings of Treasury notes d e c l i n e d | 1 1 1 , 9 0 0 , 0 0 0 , w h i l e h o l d i n g s of U. S. bonds i n c r e a s e d . 3 , 4 0 0 , 0 0 0 . The F e d e r a l Reserve Banks of Cleveland and S?.n F r a n c i s c o r e p o r t d e c l i n e s of $5,100,000 and $ 2 , 5 0 0 , 0 0 0 , r e s p e c t i v e l y , 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 , w h i l e t h e remaining banks show r e l a t i v e l y small changes i n t h i s i t e m . A summary of changes 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 F e d e r a l r e s e r v e banks d u r i n g t h e week and t h e year ending March 17, 1926, f o l l o w s : I n c r e a s e or d e c r e a s e d u r i n g Week Year Total r e s e r v e s Gold r e s e r v e s +$13,800,000 + 12,100,000 - #45,900,000 Total b i l l s and s e c u r i t i e s Bills discounted, t o t a l Secured by U. S. Government o b l i g a t i o h s Other b i l l s d i s c o u n t e d - 56 900 000 21^800^000 - 3,400,000 - 18,400,000 + 44,800,000 +141,100,000 + 78,900,000 + 62,300,000 - 27,400,000 - 19,600,000 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 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 . - 7,100,000 + 3,400*000 . . . . . 111,900,000 + 101,400,000 - 62,600,000 - 75,700,000 - 15,400,000 -146,800,000 + 86,500,000 Federal r e s e r v e notes i n c i r c u l a t i o n . . . . - 12,500,000 - 61,200,000 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 16,600,000 + 20,600,000 - 41,500,000 + 53,600,000 + 54,800,000 w. + 1,000,000 Released f o r p u b l i c a t i o n Friday morning, March 19, 1926; not e a r l i e r . S t . 4283a RESOURCES AND LIABILITIES 0> T:.tE TWELVE FEDERAL RESERVE BASKS COMBINED (In thousands of d o l l a r s ) r " : a r - 17. 1926 Mar. 10. 1Q26 Mar. 18. 192^ ^ l gold held e x c l u s i v e l y a g a i n s t F^R.notes Total gold r e s e r v e s ..eserves o t n e r t m n gold Total r e s e r v e s B m r ; : ™ d ' W 459 n 4 1,490,833 1 _ l s 2,211,205 153, 392 . a 2,799 15S 151,'^ 2,9^,657 2,950 WO bUga i *n * *.»» ouiXu^itrzzr: : !: !; : ., y^ig 213,328 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 352,577 3,610 7,700 350 666 3 150 1,101,640 7, „ 1,158,559 4£0,ol5 257 UK 502,425 PKU'RPO '^ ,. 18?'33? 111|894 5,039,004 4,584,769 1,659,210 1,671,754 EE™;:™, :::::::::: j g j | TOTAL RESOURCES 48,005 1,671,953 624,265 577,598 2,873,846 136,748 3,010,594 56,031 181,615 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 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 . 1,623,97s 157,869 339,484 276,711 79,260 222,171 1*6,819 428,250 1,902 10,500 1,056,847 796 756,592 58 , 7 7 5 19,695 4,959,330 L I A B I L I T I E S ir. R. notes in a c t u a l c i r c u l a t i o n . . . Deposits: ^ember bank - r e s e r v e account . . . . Total d e p o s i t s :::::: j| j| 2,230,282 2 20Q 698 2,264,647 2,281,259 % m W ^ u i i u . - : : : : : : : : : TOTAL LIABILITIES j 5>^3S>^04 xtatio of t o t a l r e s e r v e s to d e p o s i t and vF. R. note l i a b i l i t i e s combined . . . 75.6% contingent l i a b i l i t y on b i l l s purchased xor f o r e i g n c o r r e s p o n d e n t s 73,975 C. % | | | 4,854,769 1,720,369 2,175,515 6,126 8,365 20,999 2,211,005 684,375 114,450 217,837 11,294 4,959,330 76.6% 83,009 51,853 R E s n n n r iT s n£,QuutiU£,b RESOURCES AM) LIABILITIES OF THE FEDERAL RESERVE BAMS ON MARCH 1J, 1926. ( I n thousands of d o l l a r s ) a s a a r s % S S a g:g Gold held e x c l u s i v e l y a g a i n s t R> n o t e s ;Ot„I sold r e s e r v e s Reserves o t h e r than gold Total r e s e r v e s Eill ^discounted: ' —— % s# gg &g 130,346 388,426 130,71b 194,850 51,771 128,094 135,983 15,931 63,086 47,863 27,955 175,812 1,490,833 221,875 18,604 930,595 208,155 290,1)4 43,0)4 4,572 9,168 3 6,637 1 64,536 3 61,44s 49,919 8.867 8,820 20.598 18,923 240,479 973,629 212,730 299,302 95,504 173,356 382,046 ^,245 T o tal b i l l s discounted B i l l s bought i n oren market u» 0. GrC7er23mdiat - s e c u r i t i e s : ~ S t . 4883b 23,734 3,629 1,119 2,457 104,190 56,639 48,232 45,023 43,301 55,051 25,612 6,734 7,430 15,714 12,731 4,24? 4,392 l l f 1 ^ 1 66,786 6,571 49,814 22,646 4io7E5~ 257,138 '7 y & S j ? S 5« 6,554 58 5 134,137 25,4g4 4,038 2,110 17,987 3,050 7 32 T otal 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 71,379 - 297,847 712 94,834 - 95,433 - Uncollected items ®.a1nk Premises 73,657 4,068 197,7^7 80,691 75,990 67,453 45,642 114,731 38,733 15,071 44,bis 31,597 45,719 I6,b6b 1,505 7,409 2,364 2,761 7,933 4,111 2,943 4,636 1,793 3,217 All o t h e r r e s o u r c e s TOTAL RESOURCES 94 2,495 294 8 24 846 11,890 41,006 560 408 3O8 1,055 59,^92 364 70,910 125,699 1,076 1,967 . I'M 12,082 *#* ^ j.fg d S > 13,3% * 3,401 " I j Total U.S. Gov'ts s e c u r i t i e s Other s e c u r i t i e s F o r e i g n l o a n s on gold 28,587 ^ ^ 2,831 16,^ , j 14,851 8,936 i % | 5 10,223 3,897 20,883 indebtedness 57,410 2,052 16,426 S S g r - ' i 40,506 „ 24,580 90,300 95,125 59,96s 252,570 2,811,265 2,8CB 4,722 5,891 7,325 153,392 68,842 93,108 99,847 65,859 259,955 2,964,657 H 17,445 13,489 25,396 22,934 32,207 , . 331 246 300 ZJO 531 56,751 409 27,899 <£,352 54,l4l . 480 352,577* ,'g.0 7^700 41,857 105,198 1,101,640 _ 712 376 3,381 831,669 59,406 14,134 394,922 1,513, 696 392,106 463,227 229,769 297,642 641,312 172,475 1 4 2 , 4 9 ^ 2 0 6 , 1 7 9 144,313 420,871 5,039,004* RESOURCES AND LIABILITIES OF- THE-FEDERAL RESERVE BANKS ON MARCH 1J, 1926. S t . 4883c (In thousands of d o l l a r s ) Boston New York P h i l a . Cleve. Rich. A t l a n t a Chicago St.Louis Minn. Kans.Cy. D a l l a s San Fran. Total F. 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 153,518 371,786 145,861 199,058 77,331 160,309 163,632 37,118 64,109 64,194 37,649 184,643 1,659,210 Deposits: Member "bank - r e s e r v e account 141,489 867,825 137,427 174,542 68,358 81,086 327,301 80,127 51,920 85,405 58 , 582 156,220 2,230,282 .Government 351 428 260 951 146 827 721 132 786 817 439 1,231 7,089 F o r e i g n bank 481 1,376 601 677 335 253 867 272 203 247 222 437 5,971 Other d e p o s i t s 322 9,991 648 1,075 81 93 1,255 1,056 207 160 33 6,384 21,305 Total d e p o s i t s 142,643 879,620 138,936 177,245 68,920 82,259 330,144 81,587 53,116 86,629 59,276 164,272 2,264,647 Deferred a v a i l a b i l i t y items 72,332 165,71+2 74,411 69,357 64,645 40,849 98,415 38,328 13,681 41,508 34,989 46,551 761,108 Capital paid in 33,871 11,929 13,460 6,096 4,919 16,292 5,150 3,152 4,236 4,280 8,237 8,772 120,394 Surplus 17,020 59,964 20,464 22,894 11,919 8,700 30,613 9,570 7,501 8,979 7,615 15,071 220,310 All o t h e r l i a b i l i t i e s 637 2,711 505 1,213 855 606 2,216 722 933 633 504 1,797 13,335 TOTAL LIABILITIES 394,922 1,513,696 392,106 483,227 229,769 297,642 641,312 172,475 142,492 206,179 144,313 420,871 5,039,004 Reserve r a t i o ( p e r c e n t ) 81.2 65.3 77.8 74.7 79-5 71.5 58.0 79.4 66.2 67.9 74.5 77.4 75.6 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 5,883 22,773 7,354 8,283 4,103 3,097 10,606 3,329 2,477 3,019 2,709 5,342 72,975 I . R . n o t e s on hand (notes r e c ' d from t?.R.Agent l e s s n o t e s i n c i r c u l a t i o n ) 18,264 140,064 28,386 21,494 15,894 19,251 19,648 5,103 2,720 6,168 4,929 48,377 330,298 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F-. IL. n o t e s r e c ' d from Comptroller 219,982 738,212 209,767 276,702 119,365 223,994 413,517 65,801 86,532 119,352 57,665 288,520 2,819,409 F- R. n o t e s held by F . R. Agent 48,200 226,360 35,520 56,150 26,140 44,434 230,237 23,580 19,703 48,990 15,087 55,500 829,901 F.R. n o t e s issued t o F.R. Bank 171,782 511,852 174,247 220,552 93,225 179,560 183,280 4 2 , 2 a 66,829 70,362 42,578 233,020 1,989.508 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. n o t e s issued t o F.R.Bank: 35,300 186,698 1,200 8,780 25,655 1 2,977 Gold and geld c e r t i f i c a t e s 17,226 10,045 12,867 310,748 Gold redemption fund 9,995 26,522 12,351 11,309 4,007 7,055. 3,775 1,816 1,139 3,240 18,038 102,162 2,915 74,000 166,000 104,389 170,000 20,500 105,000 125,645 3,200 48,000 42,860 6,000 153,898 1,019,492 Gold f u n d - F. R. Board 64,240 148,308 60,432 68,714 52,005 56,966 83,442 38,407 13,908 28,237 17,938 72,070 704,667 E l i g i b l e paper L I A B I L I T I E S Total c o l l a t e r a l 183,535 527,528 178,372 258,803 102,167 181,998 a2,862 53,468 75,914 74,012 44,404 244,006 2,137,069 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 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 364,185 96,085 99,013 l 6 to 30 days 31 t o 60 days 6l to 90 days 30,957 70,533 - 43,340 29,589 28,574 24,988 57,847 - 91 ^ a y s *° 6 months 8,510 Over 6 months 74,362 14,965 4,099 4,034 - Total 480,615 257,13s 213,328
@FedFRASER