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STATEMENT FOR THE PRESS Released f o r p u b l i c a t i o n Friday morning, March 4; not e a r l i e r St.5283 Federal Reserve Board March 3» 1927. CONDITION OF FEDERAL RESERVE BANKS The c o n s o l i d a t e d statement of c o n d i t i o n of the Foaeral reserve "banks on March 2, made public by the Federal Reserve Board, shows i n c r e a s e s f o r the week of $51,300,000 in b i l l and s e c u r i t y h o l d i n g s , $69, DOC .COO i n member bank reserve deposits, $8,600,000 i n Federal reserve note c i r c u l a t i o n , and $2,300,000 in cash r e s e r v e s . Holdings of a l l c l a s s e s of b i l l s and s e c u r i t i e s increased during the week - discounted b i l l s by $36,700.000, acceptances purchased in open market by $ 8 , 8 0 0 , 0 0 0 , and Government s e c u r i t i e s by $5,800,000. The Federal Reserve Bank of New York reports an increase of $25,400,000 in i t s discount h o l d i n g s , Chicago an increase of $9,500,000, San Francisco $8,900,000, and A t l a n t a $4,5OO.000, while the Cleveland bank shows a reduction of $7,700,000 and Kansas City of $2,900 000„ The Hew York bank a l s o reports an increase of $26,300,000 in open-market acceptance holdings and San Francisco an increase of $3.700,000, while the Boston b a r k shows a d e c l i n e of $5,800,000, Chicago $3,800,000, P h i l a d e l p h i a $3,200,000, and Cleveland $2,700,000. The System's holdings of Treasury n o t e s and c e r t i f i c a t e s were $3,700,000 and of United States bonds $2,100,000 above the preceding week's t o t a l s . The p r i n c i p a l changes in Federal reserve note c i r c u l a t i o n f o r the week comprise a decline of $3,300,000 reported by the Federal Reserve Bank of Philadelphia, and i n c r e a s e s of $3,700,000 at the New York bank, $2,900,000 at Chicago, $2,700,000 at A t l a n t a , and $2,500,000 at Cleveland. A summary of changes i n the 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 the reserve banks during the week and the year ending March 2, 1927, f o l l o w s : Increase or decrease during Week Year Total reserves . Gold reserves . +$2,900,000 . . . - 1,500,000 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. Government o b l i g a t i o n s . . Other b i l l s discounted . +51,300,000 +36,700,000 +38,100,000 - 1,400,000 B i l l s bought in open market . + 8,800,000 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 . , , . — - + 170,800,000 148,600,000 70,900,000 77,700,000 2,400,000 5,800,000 2,100,000 1,600,000 2,100,000 + 14,800,000 1,400,000 76,700,000 63,300,000 Federal reserve n o t e s in c i r c u l a t i o n . . . . . + 8,600,000 + 4 i ,600,000 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 . +74,900,000 , +65,600,000 . + 7,500,000 4- 12,700,000 6,900,000 17,200,000 . . . + + + + +$230,400,000 4- 216,800,000 - - Released f o r p u b l i c a t i o n Friday morning, March 4, 1927; not e a r l i e r . St. 5288a RESOURCES ATSTO LIABILITIES OF THE TWELVE FEDERAL RESERVE B.OKS COMBINED ( i n thousands of d o l l a r s ) Mar. 2,1927 Feb. 23,1927 Mar. 3,1926 RESOURCES Sold with Federal reserve agents C-old redemption fund with U. S. Treasury . . 1,534,183 43,204 1,560,960 38,751 1,383,170 50,723 Gold held 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 . 1,577,387 1,599,711 1,433,893 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 . . 633,998 770,201 621,859 761,528 688,567 642,324 2,981,586 2,983,098 2,764,784 162,328 157,938 148,754 3, 1U3,91^43,143,91% 3,141,036 2,913,538 66,126 65,296 210,357 187,572 319,423 263,791 39 7,929, 280,189 583,214 286,607 58,888 94,687 157,399 56,788 93,075 155,345 60,285 171,432 94,O4i 310,974 2,000 305,20s 2,000 325,758 3,150 8,700 Total gold r e s e r v e s Reserves other than gold Total reserves ^on-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 . . Total b i l l s discounted B i l l s bought i n open market "J. 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 66,755 248,505^ 186,13^ 434,644 289,023 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 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 . . . . A l l other resources B - bl 1 - 1,036,641 985,326 1,207,429 659 693,213 58,381 12,735 659 610,228 58,35i 12,577 749 711,125 59,368 16,918 5,012,298 4,874,303 4,974,423 1,716,956 1,708,330 1,675.35*+ 2,231,271 35,265 4,929 I8,ll6 2,165,653 27,727 4,707 16,595 2,224,329 52,472 6,l50 19,322 2,289,581 2,214,682 2,302,283 639,342 126,788 222,775 10,856 584,874 126,509 228,775 11,133 644,103 119,721 220,310 12,652 5,012,298 4,874,303 4,974,423 L I A B I L I T I E S 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 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 items Capital paid i n Surplus All other l i a b i l i t i e s . . TOTAL LIABILITIES . . . . . . 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 78.5% 80.1$ 73-2$ 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 95,834 92,002 82,408 R E SOU. . R O E S BE SOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON MARCH 2, 1927. ( i n thousands of d o l l a r s ) Boston Gold with Federal Reserve Agents 103,247 Gold redemption fund with U . S . T r e a s . 4 , 6 l 8 Gold hold e x c l u s i v e l y against F. R. notes 107,865 Gold settlement fund with F.R.Board 43,828 Gold and gold c e r t i f . held "by banks33,172 New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. ^ans.Cy. Dallas San Fran. Total 368,796 115,822 177,086 67,b23 151,626 177,425 29,752 6o,953 64,362 36,485 181,001 1,534,183 11,670 6,153 4,909 698 2,237 4,107 1,204 1,462 3,108 1,252 1,786 380,466 121,975 181,995 135,788 57,011 82,696 515,690 27,449 53,608 68,321 153,863 181,532 19,920 12,049 31,584 142,183 4,198 56,994 Total s o l d reserves Reserves other than gold 184,865 1,031,944 206,435 318,299 100,290 189,645 380,709 19,835 32,652 4,649 12,857 10,577 11,264 25,757 Total reserves Hon-reservo cash 204,700 1,054,596 211,084 331,156 110,867 200,909 4o6,466 20,505 1,908 7,773 4,883 9,122 3,918 5,794 B i l l s discounted: Secured by U.S.Govt, o b l i g a t i o n s 18,824 Other b i l l s discounted 15,660 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 : Bo#ds Treasury notes 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 A l l other resources TOTAL RESOURCES C. St. 5286b 30,956 21,709 15,536 68,201 18,815 87,016 4,259 <u 62,420 67,470 16,573 31,156 7,523 37,737 182,787 1,577,387 24,459 27,081 633,998 8 , 6 9 4 28,811 770,201 85,470 106,149 4,087 5,032 70,900 238,679 2,981,586 8,218 162,328 8,585 89,557 111,181 1,396 956 79,118 247,264 3 , 1 4 3 , 9 1 4 2,298 3,443 66,755 5,477 . 248,505 186,139 86,103 28,610 20,696 13,533 23,782 12,790 7,248 16,349 2,633 27,254 4 2 , 5 ? r ; 7,915 32,257-118,592 394 2,915 2,207 5,306 677 2,127 35,448 20,546 34,484 40,268 114,713 35,572 27,223 23,597 10,654 29.887 12,230 74,835 34,136 16,507 8,553 3,309 9,519 7,513 12,694 2,804 5,872 56,094 26,582 434,544 79,839 34,329 17,138 1,478 2,754 6,355 3,263 15,809 38,545 708 15,723 3,497 2,665 11,945 21,985 1,337 1,649 4,073 240 1,577 4o4 20,537 7,528 13,625 4,511 7,957 9,955 7,783 2,449 5,249 9,142 5,366 13,561 5,249 5.071 12,932 825 15,859 21,191 58,888 94,687 157,399 10,598 57,618 19,928 36,553 7,059 2,221 45,741 22,534 15,481 23,069 24,252 33,875 310,574 - 85,350 — 64,083 3,945 70 - 252,170 559 168,063 16,276 2,547 2,000 - 73,395 100,393 — 60,320 1.711 434 - - - - - - - - 2,000 41,320 44,338 155,712 47,599 29,409 43,276 3 6 , 5 2 s 121,651 1,036,641 54,280 2,149 472 25,821 2,894 752 331310 3,955 832 12,05s 2,774 2,229 45,246 4,455 534 29,336 1,752 412 — 67,820 7,118 1,065 289,023 93,372 7,900 2,138 38,454 3,446 1,150 659 693,213 58,331 12,735 355,922 1,524,916 348,852 512,435 214,682 279,632 674,710 177,072 135,923 211,592 149,894 415,408 5,012,298 RESOURCES AID LI ABILITIES OF THE FEDERAL RESERVE 3AHS OH MARCH 2, 1927. ( I n thousands of d o l l a r s ) L I A B I L I T I E S Boston Mew York Phi l a . Cleve. Rich. Atlanta Chicago St.Louis F.R.notes i n actual c i r c u l a t i o n Deposits: "'ember bank - reserve account Gove rnment 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 items Capital paid i n Surplus 11 other l i a b i l i t i e s Minn. ICans.Cy. Dallas San Fran. 127,950 416,331 118,936 204,491 73,346 164,986 217,752 l4i,0i0 6,826 403 151 148,390 62,737 846,802 135,971 69,884 69,135 317.365 79,^23 48,674 87,136 937 4,001 3,656 2,632 l,4o4 1,030 8,888 17,606 351 5,894 1,047 9,127 862,870 144,350 37,360 6i,6l4 2,391 2,796 515 183 203,028 2,615 569 1,290 279 220 175 44o 44,749 St. 5288c 741 1,150 231 415 64,092 68,327 161 162 199 1,063 Total 41,887 174,109 1, 716,956 62,642 1,291 188 179 170,201 2, 231,271 35,265 2,183 4,929 376 3,781 18,116 139,465 207,502 71,275 73,796 322,912 82,701 50,401 89,428 64,300 176,541 2,289,581 55,988 12,383 21,267 313 61,705 13,854 23,746 1,137 51,162 6,169 12,19s 732 25,741 5,031 9,632 446 82,829 16,945 31,881 2,391 33,616 5,290 9,939 777 10,987 3,021 7,527 955 40,121 4,157 9,029 530 30,766 4,304 8,215 422 39,340 8,886 16,121 4ll 639,342 126,788 228,775 10,856 365,922 1 , 5 2 4 , 9 1 6 348,852 512,435 214,882 279,632 674,710 177,072 136,983 211,592 149,894 415,408 5 , 0 1 2 , 2 9 s T0T1L LI 3IIITIES 73.5 74.5 70.5 78.2 68-3 70.5 Reserve r a t i o (per c e n t ) 83.2 81.7 80.4 76.7 84.1 74.1 75-2 Contingent l i a b i l i t y on b i l l s pur95,834 chased f o r f o r e i g n correspondents 28,830 8,897 9,823 4,819 3,800 12,729 3,985 2,730 3,429 3 , 2 4 4 6,457 6,951 F.R.notes on hand ( n o t e s r e c ' d from 355,285 5,968 39,136 3,69s 4,610 12,602 107,804 43,886 2 4 , i 4 o 15,946 24,232 47,071 F.R.\gent l e s s notes i n circalation)26,lS4 FF.DER XL RESERVE NOTE ACCOUNTS OF FEDERAL BE SERVE AGENTS 316,215 194,322 272,679 115,246 253,443 420,023 71,067 37,144 107,699 66,602 262,745 2, 917,319 F. R. n o t e s r e c ' d from Comptroller 250,134 292,030 31,500 44,p4o 25.954 64.225 155.200 22.b20 18.442 26.770 18.747 49,500 345.078 F. R. n o t e s h e l d by F. R. Agent 96,000 524,135 162,322 223,639 3 9 , 2 9 2 139,213 264,823 43,447 63,702 80,929 47,355 213,245 2,072,241 F. R. n o t e s i s s u e d to F. B. Bank 154,134 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 F.R. n o t e s i s s u e d t o F.R.Bank: 367.952 210,080 3,730 23,305 15,422 7,750 13,507 13,303 30,000 Gold and gold c e r t i f i c a t e s 35,300 107,635 22,716 11,945 13,306 4,313 9 , 2 0 4 2,425 2,702 1,451 4,502. 5,177 15.492 Gold redemption fund 13,9^7 053,546 136,000 103,377 155,000 34,ooo 127,000 175,000 19,300 46,000 59,S6O 13,000 135,509 1, Gold fund-F. R. Board 54,000 700,594 179,497 47,627 62,621 33,755 41,574 108,413 24,767 12,547 19,964 12,574 32,503 E l i g i b l e paper 74,752 543,293 163,449 239,707 101,378 193,200 285,333 54,519 73,505 84,326 49,059 263,504 2, 234,777 Total c o l l a t e r a l 177,999 "'ATTJRITY DISTRIBUTION OF BILLS \ND CERTIFICATES OF INDEBTEDNESS Total hin 15 days l 6 to 30 days 31 to 60 days 6l to 90 days ^1 Over 6 months 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 Digitized forC. FRASER 347,065 142,535 1,329 24,462 65,326 - 35.033 55,236 - 13,363 21,315 - 7,534 2,077 110,713 44,857 3,561 434,644 259,023 157,399
@FedFRASER