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SMEmmW FOR THE FEE S3 Released, f o r p u b l i c a t i o n F r i d a y m o r n i n g , March 25; not e a r l i e r . s t . 5313 Federal Reserve Board, March 24, IS 27. 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 23, made p u b l i c by t h e F e d e r a l R e s e r v e B o a r d , shows an i n c r e a s e f o r t h e week of $ 1 2 6 , 6 0 0 , 0 0 0 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 and of $ 1 2 , 4 0 0 , 0 0 0 i n a c c e p t a n c e s p u r c h a s e d i n open m a r k e t , a s compared w i t h d e c l i n e s of $ 8 5 - 4 0 0 , 0 0 0 and $ 4 5 , 8 0 0 , 0 0 0 , r e s p e c t i v e l y , t h e week "before. Government s e c u r i t y h o l d i n g s d e c l i n e d $ 1 3 3 , 1 0 0 , 0 0 0 , t h e r e d e m p t i o n of t e m p o r a r y T r e a s u r y c e r t i f i c a t e s 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 r e s e r v e h a n k s on t h e p r e v i o u s r e p o r t d a t e h a v i n g b e e n p a r t l y o f f s e t "by a d d i t i o n a l p u r c h a s e s of s e c u r i t i e s i n t h e open m a r k e t . Cash r e s e r v e s i n c r e a s e d $ 8 , 4 0 0 , 0 0 0 d u r i n g t h e week and F e d e r a l r e s e r v e n o t e c i r c u l a t i o n dealinea $4,$00,000. Most of t h e F e d e r a l r e s e r v e "banks r e p o r t l a r g e r d i s c o u n t h o l d i n g s , t h e p r i n c i p a l i n c r e a s e s f o r t h e weak "being: New York $ 9 1 , 1 0 0 , 0 0 0 , San F r a n c i s c o $ 1 3 , 2 0 0 , 0 0 0 , P h i l a d e l p h i a $ 1 1 , 7 0 0 , 0 0 0 , and B o s t o n $ 6 , 0 0 0 , 0 0 0 . The Hew York b a n k a l s o shows an i n c r e a s e of $ 0 , 5 0 0 , 0 0 0 i n o p e n - m a r k e t a c c e p t a n c e h o l d i n g s , and Chicago an i n c r e a s e of $ 8 , 6 0 0 , 0 0 0 . T o t a l h o l d i n g s of T r e a s u r y n o t e s and of U n i t e d S t a t e s b o n d s were $ 1 0 , 3 0 0 , 0 0 0 and $ 3 , 6 0 0 , 0 0 0 , r e s p e c t i v e l y , above t h e p r e v i o u s w e e k ' s t o t a l , w h i l e T r e a s u r y c e r t i f i c a t e s d e c l i n e d $ 1 4 7 , 0 0 0 , 0 0 0 or $ 3 0 , 0 0 0 , 0 0 0 l e s s t h a n t h e amount of t e m p o r a r y c e r t i f i c a t e s h e l d by t h e F e d e r a l r e s e r v e b a n k s on t h e p r e v i o u s r e p o r t d a t e . The p r i n c i p a l c h a n g e s i n F e d e r a l r e s e r v e n o t e c i r c u l a t i o n d u r i n g t h e week wore d e c r e a s e s of $ 2 , 3 0 0 , 0 0 0 and $ 2 , 3 0 0 , 0 0 0 , r e s p e c t i v e l y , r e p o r t e d b y t h e San F r a n c i s c o and P h i l a d e l p h i a r e s e r v e b a n k s . A. summary of c h a n g e s 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 e n d i n g March 23, 1927, f o l l o w s : - Increase or decrease Week Total reserves + $8,400,000 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 . G o v t , 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 + 5,900,000 +126,600,000 + 93,000,000 + 33,600,000 B i l l s b o u g h t i n open m a r k e t + 9,900,000 . . . . U. S. Government s e c u r i t i e s , t o t a l . . Treasury notes . . . 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 . . . Federal reserve notes i n c i r c u l a t i o n . 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 C. during Year + + - — - $243,500,000 239,200,000 157,200,000 160,400,000 72,100,000 88,300,000 21,000,000 + 12/400,000 - -133,100,000 + 3,600,000 + 10,300,000 - i- -147,000,000 + 34,000,000 1,900,000 49,600,000 85,500,000 - 4,600,000 + 42,600,000 + 5,300,000 + 5,100,000 + 2,900,000 + 4- 4- 15,700,000 82,400,000 63,200,000 Released, f o r p u b l i c a t i o n F r i d a y morning, March 25, 1927; not e a r l i e r . S t . 5313& RESOURCES A2TD LIABILITIES OF THE TWELVE FEIPRAL 5?: SERVE BAMS COITIWED ( I n t h o u s a n d s of d o l l a r s ) n ar. 23,1927 Mar, l b , 1 9 2 7 Mar. 24,1925 RE S O U R C E S 1,619,911 51,105 1,689,080 4o,481 1,404,307 58,086 Gold h e l d e x c l u s i v e l y against F . R . n o t e s 1,671,01b 1,735,561 1,462,393 Gold s e t t l e m e n t f u n d w i t h F. R. Board . . Gold and g o l d c e r t i f i c a t e s h e l d by banks . 608,963 753,657 3,033,636 524,085 764,095 713,203 618,885 3,023,741 2,794,481 159,644 lol,l44 155,295 3,193,280 3,184,885 2,949,776 66,465 67,896 06,102 188,716 268,421 175,457 155,065 340,564 276,933 Total b i l l s discounted 457,137 330,522 617,547 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 i n d e b t e d n e s s 231,259 218,870 252,22s 61,950 71,733 208,564 58,364 61,394 355,582 63,877 121,308 123,016 342,247 475,340 308,201 2,000 2,000 3,810 8,010 1,032,643 1,026,732 659 1,189,796 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 Gold r e d e m p t i o n f u n d w i t h TJ. S. T r e a s u r y . Reserves other than gold 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 d i s c o u n t e d . . T o t a l U. S. Government s e c u r i t i e s F o r e i g n l o a n s on g o l d T o t a l b i l l s and s e c u r i t i e s . . . . 660 Due from f o r e i g n b a n k s Uncollected items . . . . . Bank p r e m i s e s « 58,464 II,54I 643 635,857 59,4O6 14,732 5,008,019 5,194,631 4,916,312 1,701,642 1,706,227 1,658,996 2,300,454 5,700 5,759 «17,424 2,295,305 2,830 4,818 20,079 2,218,007 2,329,337 2,323,032 2,313,632 644,812 58,471 11,688 TOTAL RESOURCES . . . . . . . 844,454 LIABILITIES 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 . . . . Deposits: '"ember bank - r e s e r v e account Total deposits Deferred a v a i l a b i l i t y items Capital paid in Surpl is All o t h e r l i a b i l i t i e s . . . . . TOTAL LIABILITIES 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 E. R. n o t e 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 p u r c h a s e d f o r foreign correspondents C-. 608,526 127,567 228,775 12,172 797,302 127,692228,775 11,603 5,008,019 5,194,631 79-2$ 79.0$ 147,946 145,583 68,892 8,420 18,313 588,910 120|404 220,310 l4,o6o 4,916,312 74.3$ 71,016 R E S O U R C E S HE SOURCES AID LIABILITIES OF THE FEDERAL RESERVE BAMS ON MARCH 23, 1927. ( i n t h o u s a n d s of d o l l a r s ) Boston Gold w i t h F e d e r a l Reserve Agents 1 0 8 , 9 9 3 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 . 7 , 2 8 9 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 116,282 Gold s e t t l e m e n t f u n d w i t h F . R . B o a r d 3 9 , 4 1 5 Gold and g o l d c e r t i f . h e l d by b a n k s 3 2 , 9 6 5 Total gold reserves Reserves other than gold Total reserves 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 i n d e b t e d n e s s 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 Due f r o m f o r e i g n banks Uncollected items Bank p r e m i s e s All other resources TOTAL RESOURCES' Phila. Cleve. 378,6lO 122,593 197,029 12,718 8,235 3.252 R i c h . A t l a n t a Chicago S t . L o u i s 72,082 1 6 5 , 0 1 1 212,356 1,048 2,390 6,288 31,504 1,053 391,328 130,828 200,281 73,130 167,401 218,644 32,557 198,014 499,570 35,403 58,633 27,026 5 5 , 5 8 8 188,662 1,088,912 193.317 22,119 4,620 32,074 210,781 1,120,986 197,937 ¥on-reserve cash 7,7bl B i l l s discounted: Secured by U . S . G o v t , o b l i g a t i o n s 1 9 , 7 7 7 Other b i l l s discounted 12,927 Total b i l l s discounted Hew York 25,308 4,529 19.546 122,422 4,725 314,502 102,967 191,672 9,929 9.656 11,429 3 2 4 , 4 3 1 112,623 203,101 4,170 6,019 4,316 5,461 56,365 15,878 397,431 53,896 S t . 5315b Minn. Kans.Cy. D a l l a s San F r a n . 60,787 1,964 7,129 4,237 421,383 73,311 92,773 9.473 4, 023 109.137 31,507 24,180 21,087 32,704 l4o,644 45,267 25,163 5 , 2 7 4 3 . 2 1 3 35,540 6 , 9 3 7 12,296 14,827 29,261 24,931 8,061 37,459 20,101 3 2 , 4 7 4 60,521 14,998 28,282 52,133 12,799 20,823 9,225 10,377 30,832 1,206 l,l6S 6,998 7,813 14,587 58,322 953 4.653 14,080 3,304 9,977 23,323 1,627 826 4,645 4i 379 1,335 22,074 4,794 22,334 9,372 80,722 19,686 36,6o4 7,098 2,305 169,278 1 , 6 1 9 , 9 1 1 1,^08 7,793 8,846 33,183 5,249 7,707 8,757 273,499 58,643 3,946 660 154,456 16,276 1,979 67 351.556 1 , 5 8 5 , 8 7 3 753,657 159,644 111,162 7 5 . 2 6 4 249,028 3 , 1 9 3 , 2 8 0 1,314 2,6O4 2,363 4,032 66,465 3,507 1,169 2,188 31,300 22,163 263,421 188,716 3,357 53,463 457,137 17,419 5,966 1 0 , 1 7 3 6,276 1 0 , 9 9 1 9,114 22,433 231,259 4,647 3,487 14.523 4,246 7,126 9,133 3,179 15.477 3,664 6,638 15,295 2,264 12,749 24.056 61,950 49,702 27,657 16,541 27,344 25,647 39,069 3,224 2,742 5,169 6,671 2,000 70,358 ' 5l',105 88,536 105,913 6 7 , 5 5 7 240,271 3 , 0 3 3 , 6 3 6 19,915 1,873 36,393 1,371 62,751 6 9 , 3 6 4 37,764 170,686 1,671,016 18,656 28,756 20,947 3 6 , 4 0 2 608,963 23,952 18,017 65,275 4,089 Total 71,733 203.564 342,247 2.000 79,752 9 4 , 8 3 6 36,424 45,656 l4l,105 6 0 , 0 7 4 23,783 49,013 3 3 , 1 1 3 114,975 1 , 0 3 2 , 6 4 3 57.765 6 3 , 5 0 3 55,632 2,149 29,258 39,767 4,459 514 27,571 1,752 385 1,714 209 7,118 1,012 388 2,896 889 78,175 7,972 2,057 29,541 3.957 1,009 11,664 2,774 2,058 660 38,837 3,458 1,121 644,812 58.471 11,688 339,250 495,120 213,235 286,616 660,165 172,415 139,366 207,278 145,694 411,451 5,002,019 LI RESOURCES AND "LIABILITIES OF I HZ FEDERAL RESERVE BASKS ON MARCH 23, 19 2?. ( I n t h o u s a n d s of d o l l a r s ) A B I L I T I E S B o s t o n New York P h i l a . C l a v e . Rich. A t l a n t a Chicago S t . L o u i s M i n n . K a n s . C y . D a l l a s San F r a n . 4o,202 167,4$l l , 701,642 F.R.notes in actual circulation Deposits: Member "bank - r e s e r v e account Government F o r e i g n bank Other d e p o s i t s 125,245 413,842 111,869 203,147 141,177 922,319 135,159 191,903 68,801 69,010 315,133 80,908 50,676 28,094 62,282 174,992 2, 300,454 5,700 " 516 58 634 565 979 344 71 • 866 807 270 190 5,759 569 279 220 741 231 161 199 188 376 1,877 515 Total deposits "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 142,140 57,252 4oo 403 160 8,889 17,606 421 10,274 163 70,532 173,496 220,352 1,101 171 934,986 135,895 194,207 134,377 56,919 59,001 38,173 1 2 , 9 1 5 13,803 6i.6l4 21,267 23,746 385 1,216 2,881 69,816 53,297 6,178 12,198 754 112 1,062 43,435 64,038 67,530 Total 295 252 234 39 3,561 17,424 89,334 62,779 179,119 2,329,337 31,359 11,839 3 6 , 6 1 1 29,760 39,359 608,526 8,827 127,567 4,274 5,280 3,009 4,210 1 6 , 1 2 1 228,775 8 , 2 1 5 9 , 0 2 9 9,939 7,527 12,172 464 534 564 998 897 487 2,571 286,616 660,165 172,415 139,366 207,278 145,694 411,451 5, 008,019 79.2 71.8 73*1 80.0 70.9 83.3 78.4 59.1 7 0 , 3 2 1 317,280 27,656 71,096 5,024 16,985 9 , 6 3 2 31,881 81,505 51,953 351,556 1 , 5 8 5 , 8 7 3 339,250 495,120 213 , 235 TOTAL LIABILITIES 80.0 81.6 83-1 Reserve r a t i o ( p e r c e n t ) 78.8 79-9 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 4,442 5,479 6,071 20,435 6,368 40,883 1 4 , 2 1 6 15,697 7,700 chased f o r f o r e i g n correspondents 11,106 F . R . n o t e s on hand ( n o t e s r e e ' d from 117,212 51,924 29,774 15,935 31,772 46,952 3,763 5,713 1 2 , 1 1 2 F.B.Agent l o s s n o t e s i n c i r c u l a t i o n ) 27 ,032 FEDERAL RESERVE NOTE lCCOUI'TS OF FEDERAL RESERVE AGENTS 5,183 1 0 , 3 6 6 147,946 6,561 391,861 43,111 F . R. n o t e s r e e ' d from C o m p t r o l l e r F. R. n o t e s h o l d by F. R. Agent 245,880 93.600 823,134 190,293 276,261 112,o4i 264,388 428,6o4 292,080 26,500 43,340 25,114 59,120 161,300 70,778 85,973 1 0 5 , 6 1 2 23,580 1 6 , 2 2 2 25,970 64,510 259,102 2 , 9 2 6 , 5 7 6 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 h o l d 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 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. Board E l i g i b l e paper 152,280 531,054 1 6 3 , 7 9 3 232,921 8 6 , 9 2 7 205,268 267,304 47,198 69,751 79,642 4 6 , 7 6 3 210,602 2,093,503 35,300 19,693 54,000 60,986 235,104 8,780 22,506 7 , 9 1 6 13,249 121,000 114,677 175,000 184,292 51,120 57,128 36,469 15,-422 4,613 5,589 2,356 31,000 144,000 210,000 27,114 42,736 9 0 , 9 5 3 7,750 2,454 21,300 31,9:2 13,507 1,280 46,000 11,852 4,415 60,80O 20,924 Total c o l l a t e r a l B i l l s discounted B i l l s b o u g h t i n open market Digitized C e for r t iFRASER f i c a t e s of i n d e b t e d n e s s 17,747 42,500 18,308 30,000 833,073 4oo,64o 3,085 14,728 101,884 1 5 , 0 0 0 124,550 1 , 1 1 7 , 3 8 7 1 2 , 1 8 2 75,163 666,442 48,575 244,441 2,286,353 562,902 173,713 254,157 9 9 , 1 9 6 207,747 303,309 63,496 72,639 8 6 , 1GO ' MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES.OF INDEBTEDNESS 91 days t o Total Over 6 months W i t h i n 15 d a y s l b t o 30 days 31 t o 60 days 6 l t o 90 days 6 months 457,137 2,305 6,589 20,252 25,881 32,075 370,035 U , o r r 56,206 58,518 102,980 2l7l06 103 74:709 550 9,140 169,979 -mi
@FedFRASER