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I ! ! | Released f a r p u b l i c a t i o n Friday morning, March 26; Not e a r l i e r . : i 1 1 i ! STATEMENT FOR THE? PRESS St .4895 F e d e r a l Reserve Board March 25, 1926 CONDITION-OF F5D2RAL RES3RVE 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 24, made p u b l i c by t h e F e d e r a l Reserve Board, shows i n c r e a s e s of $88,200,000 i n b i l l s and s e c u r i t i e s and of $6X,800,000 i n Government dopositq, and a d e c l i n e of $14,900,000 i n c a s h r e s e r v e s , #Lth p r a c t i c a l l y no change 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 . Holdings of d i s co u n t ed b i l l s were $136,900,000 above t h e t o t a l r e p o r t e d a week ago, w h i l e h o l d i n g s of a c c e p t a n c e s purchased in open market d e c l i n e d $4,900,000 and Government s e c u r i t y h o l d i n g s $ 4 4 , 4 0 0 , 0 0 0 , t h e r e demption of a §99,000,000 t e m p o r a r y 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 New York on t h e p r e v i o u s r e p o r t d a t e , March 17, having been 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 Treasury notes and c e r t i f i c a t e s i n t h e open market• A l l 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 h o l d i n g s of d i s c o u n t e d b i l l s w i t h t h e e x c e p t i o n of Richmond and Minneapolis, which show a d e c r e a s e of $2,700,000 each* The p r i n c i p a l i n c r e a s e s i n d i s c o u n t s during t h e week were as f o l l o w s : New York $ 4 3 , 5 0 0 , 0 0 0 , Chicago $23,000,000, Boston and Cleveland $20,000,000 e a c h , San F r a n c i s c o $12,200,000, and P h i l a d e l p h i a # 9 , 9 0 0 , 0 0 0 . Open-market a c c e p t a n c e h o l d i n g s i n c r e a s e d $5,400,000 a t t h e New York bank and d e c l i n e d $ 3 , 4 0 0 , 0 0 0 and $ 3 , 2 0 0 , 0 0 0 , r e s p e c t i v e l y , a t t h e P h i l a d e l p h i a and A t l a n t a r e s e r v e b a n k s . Holdings of T r e a s u r y notes i n c r e a s e d $45,900,000 d u r i n g t h e week, w h i l e h o l d i n g s of 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 $90,300,000# 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 an i n c r e a s e of $ 4 , 3 0 0 , 0 0 0 a t t h e Cleveland bank and a d e c r e a s e of $2,700,000 at San F r a n c i s c o * 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 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 24, 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 $14,900,000 16,800,000 - - 88,200,000 136,900,000 80,100,000 56,800,000 + Bills discounted, t o t a l . . Secured by U* S. Government o b l i g a t i o n s * Year + + + - U* S* Government s e c u r i t i e s , t o t a l • • . . • 4,900,000 44,400,000 - Treasury Botes • • • . * - 45,900,000 90,300,000 - 200,000 + 4- + 49,000,000 12,300,000 61,800,000 $58,400,000 72,800,000 - - 149,100,000 239,900,000 126,000,000 113,900,000 + + + + - _ - + - + + + 54,700,000 35,600,000 17,800,000 112,400,000 94,600,000 50,200,000 129,400,000 99,400,000 39,500,000 Released f o r p u b l i c a t i o n F r i d a y morning, March 26, 1926; not e a r l i e r . S t . 4895a RESOURCES ATE) LIABILITIES OF THE TV7ELVE FEDTML RESERVE BAMS COMBINED (In thousands of d o l l a r s ) R E S O U R C E S ' Gold with F e d e r a l r e s e r v e a g e n t s . . . . Gold redemption fund w i t h U. S . T r e a s u r y 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 Gold s e t t l e m e n t fund 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 Total gold r e s e r v e s Reserves o t h e r than gold . . . . . . . . Total reserves Non-re serve 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 d i s c o u n t e d . . . . . . . . Total b i l l s discounted Mar. 24, 1926 Mar. 17. 1926 Mar. 25. 192f 1,404,307 58,086 1,432,402 58,431 1,600,051 54,811 1,462,393 1,490,833 1,654,862 713,203 618,885 688,599 631,833 619,409 593,059 2,794,481 2,811,265 2,867,330 155,295 153,392 140,822 2,949,776 2,964,657 3,008,152 66,102 66,786 56,501 340,564 276,983 260,479 220,136 214,570 163,071 617,547 480,615 377,641 B i l l s bought in 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 i n d e b t e d n e s s 252,228 257,138 306,905 63,877 121,308 123,016 63,831 75,418 213,328 81,696 233,728 28,327 Total U. S. Government s e c u r i t i e s 308,201 352.577 * 343,751 3,810 8,010 3,610 7,700 1,902 10,500 1,189,796 1,101,640 1,040,699 Other s e c u r i t i e s Foreign loans on gold T o t a l 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 o t h e r r e s o u r c e s TOTAL RESOURCES . . . . . L I A B I L I T I E S 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; 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 C a p i t a l paid i n Surplus All other l i a b i l i t i e s TOTAL LIABILITIES . . . . 643 635,857 59,406 14,732 4,916,312 712 . 831,669 59,406 14,134 686 602,247 58,816 20,024 5,039,004 4,787,125 1,658,996 1,659,210 1,709,146 2,218,007 68,892 8,420 18,313 2,230,282 7,089 5,971 21,305 2,118,581 29,379 10,611 25,698 2,313,632 2,264,647 2,184,269 588,910 120,404 220,310 14,060 761,108 120,394 220,310 13,335 549,438 114,492 217,837 11,943 4,916,312 5,039,004 4,787,125 # Ratio 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 . . . 74.3% 75.6% 77.3% Contingent l i a b i l i t y on b i l l s purchased for foreign correspondents 71,016 78,975 51,743 Digitized C. for FRASER d RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON (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 Gold w i t h Federal Reserve Agents 121,224 344,113 117,037 190,782 48,611 122,928 129,389 Gold redemption fund with U . S . T r e a s . 8,331 13,014 1 3 , 6 l 6 2,718 2,064 2,99 7 5,542 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 129,555 357,127 130,653 193,500 50,675 125,925 134,931 Gold s e t t l e m e n t fund with F.R.Board 35,901 295,730 39,516 32,878 33,707 31,069 135,378 Gold and cold c e r t i f i c a t e s 42,188 342,393 26,044 50,360 4,737 3,742 68,285 MARCH 24, 1926. S t . 4895b RESOURCES l£*al_jgcld r e s e r v e s Reserves o t h e r t h a n gold 15,621 8,381 19,316 62,791 27,122 7,098 52,467 28,479 5,876 29,314 179,834 1,462,393 20,744 24,295 713,203 10,286 38 : 510 618,885 995,250 196,213 276,732 43,826 4,637 7,186 89,169 160,736 338,594 8,-763 9 , 4 ^ 5 21,684 43,318 20,245 97,011 2,901 86,822 5,005 60,344 242,642 2,794,431 5,827 7,117 155,295 Total r e s e r v e s 226,318 1,039,076 200,850 283,924 Non-reserve cash 5,148 2,846 24,789 1,893 B i l l s discounted: Secured by U.S.Govt, o b l i g a t i o n s 15,416 110,b51 44,905 44,107 Other b i l l s discounted 28,365 37,015 21,677 24,085 Total b i l l s d i s c o u n t e d 147,666 66,582 68,192 43,781 B i l l s bought in open market 62,821 12,980 20,893 41,433 U. S. Government s e c u r i t i e s : Bends 622 2,547 8,274 595 Treasury n o t e s 29,242 1,053 779 14,100 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 22,300 16,968 5,546 5,997 Total U . S . G o v ' t , s e c u r i t i e s 54,089 18,369 28,371 7,194 Other s e c u r i t i e s 3,250 608 F o r e i g n l o a n s on gold 2,192 760 856 97,937 1/0,161 360,273 4,536 9,023 3)997 63,563 3,860 99,912 1,099 91,527 2,340 66,171 249,759 2,949,776 66,102 3,514 3,057 15,751 34,356 50,107 11,620 40,456 37,564 78,020 11,625 17,103 28,728 12,746 470 3,607 4,077 8,753 10,191 1,972 5,062 7,565 18,944 12,136 1,161 6,277 7,467 20,452 12,871 5,499 41,522 2,794 9,403 11,479 7,773 4,494 3,424 1,096 ^ 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 premises All o t h e r r e s o u r c e s 55,330 56,356 2,364 )4l 37,498 2,761 1,065 TOTAL RESOURCES c. 207,644 18,674 St.Louis Minn. Kans.Cy. D a l l a s San Fran. Total 14,11.0 61,837 50,014 27,918 176,344 1,404,307 1,511 954 2,453 l,,39o 3,490 58,086 93,016 55,426 4,06S 97 266,768 101,941 118,312 643 143,128 60,809 58,449 16,66b 1,505 7,409 2,910 859 396 16,557 25,766 42,353 10,513 1,289 2,194 1,557 5,040 424 7,034 10,704 29,871 32,192 62,063 20,49s 340,564 276,923 617,547 252,22s 8,935 11,283 10,265 8,531 11,032 8,405 884 18,580 21,109 63,877 121,30s 123,016 23 , 676 15,691 30,483 27,968 40,573 361 256 312 273 552 305,201 3,810 5,010 77 , 532 1 49,257 65,511 27,559 61,875 80,574 7,933 1,966 31,635 4,111 432 12,800 2,943 2,443 37,67 6 4,636 482 14,925 56O 320 28,319 45,979 123,686 1,189,796 643 24,66s 36,838 635,857 59,406 3,217 1,793 14,732 • 398 3,343 354,073 1,493,930 367,394 471,799 219,325 293,553 609,031 169,112 146,786 198,836 l 4 2 , 0 6 6 420,357 4,916,312 ruLduuixv^d iuvli LIABILITIES OF THE .FEDERAL RESERVE BANKS OH MARCH c4, 192o. St.. 4S95c (In thousands of d o l l a r s ) Boston New York F h i 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. 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 152,906 369,886 146,079 203,339 76,964 160,522 165,129 36,680 64,947 63,519 36,973 181,992 1,658,996 Deposits: Member bank - r e s e r v e account 139,418 886,287 124,913 171,46b 67,313 77,706 315,223 78,989 53,126 84,910 59,488 159,168 2,218,007 Government 10,145 7,821 6,162 3,104 5,065 1,567 2,002 3,012 8,757 6,760 5,498 Foreign bank 8,999 68,892 ' 481 3,825 601 677 335 253 867 272 203 247 222 Other d e p o s i t s 8,420 437 143 7,931 129 qiq 181 196 821 1.151 27 6 4Qq 6.122 _ l 2 .18,313 Total d e p o s i t s 150,187 905,864 131,805 176,166 70,841 86,912 323,671 85,477 55,172 87,568 65,243 174,726 2,313,632 Deferred a v a i l a b i l i t y items 54,500 121,519 56,539 54,670 52,696 31,835 70,966 31,451 15,058 33,862 27,387 38,427 588,910 C a p i t a l paid i n 8,772 33,8*_g 11,939 13,460 6,000 4,926 16,296 5,146 3,154 4 , 2 3 6 4,310 8,277 120,404 Surplus 17,020 59,9b4 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 688 >559 _5o8 1,270 905 658 2,296 m 254 6%2 538 1.864 14.060 TOTAL LIABILITIES 384,073 1,493,930 367,3 94 471,799 219,325 293,553 609,031 169,112 146,786 198,836 142,066 420,357 4,916,'312 Reserve r a t i o (per cent) 51.4 74.7 72.3 74.S 66.3 68.8 52.0 6o.g 73.7 83.2 64.7 70.0 74.3 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 5,512 18,363 6,590 7,760 3,844 2,901 9,936 3,119 2,321 2,828 5,004 2,538 71,016 F . R . n o t e s on hand ( n o t e s r e c ' d from F. A. Agent l e s s . n o t e s i n c i r c u l a t i o n ) 1 7 , 0 0 5 139,799 28,26b 16,106 14,711 19,858 16,935 4,840 3,053 6,082 321,068 5,557 48,856 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F . R. notes r e c ' d from Comptroller 216,911 57,117 285,848 2,807,701 F. R. n o t e s held by F. R. Agent 47,000 % % % % S:°?o° i ? ; f § 14,587 55,000 827,637 F. R. n o t e s issued t o F. R. Bank 169,911 509,685 174,345 219,445 91,675 180,350 1.62,124 41,520 68,000 69^601 4 2 ^ 3 0 230,'848 1,980^064 C o l l a t e r a l held a s s e c u r i t y f o r F . R . n o t e s issued to F.R.Bank: Gold and gold c e r t i f i c a t e s 35,300 186,b98 1,200 8 , 7 8 0 <5,655 12,977 9,795 12,867 17,226 310,498 Gold redemption fund 16,924 26,415 10,448 12,002 2,456 5,951 3,745 1,115 970 4,154 3,692 17,734 105,606 Gold fund - F. R. Board 69,000 131,000 105,389 170,000 20,500 104,000 125,644 3,200 48,000 45,860 7,000 158,blO 988,203 E l i g i b l e paper 85,214 195,023 64,515 88,578 ± 7 , 7 6 2 t>0,308 106,159 40,826 11,407 29,846 16,913 81,260 827,811 Total c o l l a t e r a l 206,438 539,136 181,552 279,360 96,373 183,236 235,548 54,936 73,244 79,860 44,831 257,604 2,232,118 L I A B I L I T I E S 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. Within 15 days 486,050 110,540 2,884 MATURITY DISTRIBUTION OF BILLS AMD CERTIFICATES OF INDEBTEDNESS 91 days to c 16 to 30 days 31 to 60 days 6l to 90 days <>er 6 months b months 25,203 81,611 13,318 Total 617,547 252,228 123,016
@FedFRASER