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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, Mar. 5; not e a r l i e r . St. 4865 Federal Reserve Board; March 4, 1926. CONDITION OF FSPEiiAL RESERVE BANKS The consolidated statement of condition of the Federal reserve banks on March 3, made public by the Federal Reserve Board, shows an increase of $4],100,000 in holdings of discounted b i l l s , p a r t l y o f f s e t by reductions of 7 1 0 0 0 and $4,800,000, r e s p e c t i v e l y , i n holdings of acceptances purchased in open market and of United S t a t e s Government s e c u r i t i e s . Cash reserves and Federal reserve note c i r c u l a t i o n declined by $3,000,000 and $4,000,000, r e s p e c t i v e l y , while member bank reserve d e p o s i t s increased $21,500,000 and Government d e p o s i t s $15,800,000, Discount holdings of the Federal Reserve Bank of New York declined $2fc,400,000, those of Boston - $ 8 , 5 0 0 , 0 0 0 , and of P h i l a d e l p h i a , $2,500,000. All of tne remaining banks show increased discount holdings f o r the wsdk, the p r i n c i p a l increases being: Chicago $33,800,000, San Francisco $16,100,000, Atlanta $7.?00,000, Richmond $ 7 , 4 0 0 , 0 0 0 , and Cleveland $5,900,000. Open-market acceptance holdings of the New York reserve bank declined $6,200,000, those of Atlanta $4,000,000, and of Boston $3,900,000. The System's holdings of Treasury notes were $3,500,000 and those of Treasury c e r t i f i c a t e s $1,400,000 l o s s than a woek ago, while holdings of Unites S t a t e s bonds increased $100,000 during the week. The p r i n c i p a l changes i n Federal reserve note c i r c u l a t i o n during the week comprise decreases of $4,800,00® reported by Cleveland, $4,200,000 by Boston, and $ | , 1 0 0 , 0 0 0 by P h i l a d e l p h i a , ahd an increase of $4,400,000 reported by New York. 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 3i 1926, f o l l o w s i Increase or decrease Week Total reserves Gold reserves during Year . - $ 3,000,000 1,800,000 - $ 82,400,000 96,100,000 Total b i l l s and s e c u r i t i e s . . . . . . . . + 22,400,000 B i l l s discount 3d , \ t o t a l + 43,100,000 Secured by U.S.Govt, o b l i g a t i o n s . , , + 7,800,000 Other b i l l s discounted + 35,300,000 + 106,200,000 + 182,300,000 + 82,000,000 + 100,300,000 . . . . . . . B i l l s bought in open market - 17,500,000 - 17,000,000 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 indebtedness . . . . . . 4,800,000 100,000 3,500,000 1,400,000 + 57,000,000 17,100,000 106,300,000 66,400,000 Federal reserve notes i n c i r c u l a t i o n . . . - 4,000,000 - 52,000,000 Total deposits . Members' reserve d e p o s i t s Government d e p o s i t s + 40,100,000 + 21,500,000 + 15,800,000 + + + 64,500,000 58,300,000 13,000,000 C. . . . 4 . . . Released f o r p u b l i c a t i o n Friday morning, March 5, 19^6, not e a r l i e r . St. 4865 RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAJ:KS COMBINED (In thousands of d o l l a r s ) RESOURCES Gold with Federal reserve agents . . . . &old redemption fund with U.S.Treasury . Gold held e x c l u s i v e l y against F.R. notes Gold settlement fund with F. R. Board 4old and gold c e r t i f i c a t e s held by banks Mar. 3. 1926 Feb. 24. 1926 1,383,170 50,723 1,433,893 688,567 642,324 1,406,14° 46,334 4, 1925 1,452,483 674,072 640,048 1,597,655 51,397 1,649,052 658,315 553,523 2,860,890 135,095 Total eold reserves Reserves other than srold 2,764,784 148,754 2,766,603 149,907 Total reserves Non-reserve cash . . B i l l s discounted: Secured by U.S. Government o b l i g a t i o n s Other b i l l s discounted 2,913,538 65,296 2,916,510 66,298 2,995,985 55,567 319,423 263,791 583,214 286,607 311,570 228,513 540,083 237,403 163,463 400,866 304,12s 303,641 60,285 171,432 94,041 60,213 174,954 95,418 77,36$ 277,744 27,626 325,758 330,585 382,735 3,150 8,700 1,207,429 3,150 7,100 3,452 10,500 1,185,046 1,101,194 Total b i l l s discounted B i l l s bought in 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 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 All other resources TOTAL RESOURCES 749 711,125 59,368 16,918 7 EG *697,429 59,3b8 17,008 65 0 659,805 58,363 23,726 4,974,423 *4,942,439 4,895,296 1,675,354 1,679,362 1,727,38? Foreign bank Other deposits Total deposits . . . . . Deferred a v a i l a b i l i t y items 1 . . . . Capital paid in 2,224,329 52,472 6,160 19,322 2,302,283 644,103 119,721 220,310 12,b52 2,202,879 36,670 5,450 17,232 2,262,231 648,557 *119,316 220, 310 *12,663 2,165,995 39,465 6,753 25,526 TOTAL LIABILITIES 4,974,423 *4,942,439 4,895,296 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 . . . 2,237,739 587,762 113,738 217,837 10,837 Ratio of t o t a l reserves to deposit and F. R. note l i a b i l i t i e s combined . . 73.2$ 74.056 75.6$ Contingent l i a b i l i t y on b i l l s purchased for f o r e i g n correspondents . . . . 82,408 52,168 47,781 C. *Revised f i g u r e s . RESOURCES RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MARCH 3, 192b. (In thousands of d o l l a r s ) Boston Gold with Federal Reserve Agents 105,983 Gold redemption fund with U.S.Treas. 6,018 Gold held e x c l u s i v e l y against F> R New York Phila. Cleve. 309 , 315 120,701 192,208 11,813 8,996 3,145 ' St UsftRh Rich. Atlanta Chicago St.Lcuis Minn. Kans.Cy. Dallas San Fran.' Total 56,985 130,248 129,467 15,715 62,349 44,850 25,596 189 753 1 383 170 2,986 3,508 3,555 1,232 1,465 3,859 1,743 2,503 5^723 " —— 112 001 - notes > Sold settlement fund with F.R.Board 59,030 Gold and gold c e r t i f i c a t e s 44,634 321,128 129,597 195,353 59,971 133,756 133,022 16,947 63,514 48,709 27,339 192,256 1,433,893 244,862 43,716 51,74s 27,300 30,729 127,093 17,031 20,985 25,672 18,169 22,229 688,567 363,227 28,790 49,998 4,715 3,617 7 0 , l W 15,821 6,892 5,313 10,070 39,107 642^24 Total-gold reserves 215,665 Reserves other than gold 19,660 Total reserves 235,325 Non-reserve cash 4,948 B i l l s discounted: Secured by U.S. Govt. o b l i g a t i o n s 14,035 Other b i l l s discounted 22,054 929,217 202,103 297,099 40,6l6 4,786 8,125 969,333 206,839 305,224 23,984 2,,080 3,934 91,956 168,102 330^255 7,392 8,831 20,7^3 ^799 18,037 91,694 2,729 79,694 4,761 55,578 253^592 2,764^784 5,957 7,087 l4s|754 95,375 176,933 350,995 4,531 9,070 3,799 67,536 3,644 94,423 934 84,455 2,352 61,565 260,679 2,913,535 2,459 3,501 65,256 131,791 40,725 32,%5 ?3,£42 27, bl 8 21,002 14,795 25.622 7,054 26,001 54,408 34,259 10,349 15,258 6,268 4,250 12,672 9,856 527 5,517 7,561 34,015 319,423 263,791 88,667 25,607 10,515 22,558 6,644 41,576 3l>092 13,797 7,047 14,739 14,194 24,991 583,214 286,607 Total b i l l s discounted 3-6,089 172,576 53,637 45,620 43,417 B i l l s bought, in open market U . S. Government s e c u r i t i e s : Bends Treasury no+es C e r t i f i c a t e s of indebtedness 43,375 67,263 19,299 19,124 9,374 33,055 22,312 572 2,438 5,257 1,934 38,172 14,243 604 3,638 14,821 8,103 18,655 4,801 1,240 3,067 1,136 1,001 9,165 5,042 20,190 17,390 6,441 2,035 13,420 8,452 7,665 6,415 2,498 8,888 16,946 8,126 7,579 15,747 6,132 474 26,379 17,092 60,255 171,432 94,041 Total U.S.Gov't, 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 8,267 66l 54,349 2,384 19,063 3,050 827 31,559 5,443 15,208 44,0a 23,907 16,578 29,458 43,945 93I 461 348 1,192 374 27s 33,960 100 339 305 600 325,758 3,150 8,700 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 All other resources 85,392 6l,469 4,068 86 296,572 749 155,005 16,666 4,565 96,126 100,234 58,695 70,923 164,972 63,655 34,421 71,696 63,450 1,480 33O 56,112 2,364 382 38,790 2,748 1,103 34,681 4,111 431 13,282 2,943 2,327 49,198 4,636 539 50,601 111,112 1,207,429 749 26,348 39,084 711,125 3,217 59,365 1,793 446 3,426 16,91s TOTAL RESOURCES 75,979 7,409 1,187 97,727 7,933 2,096 394,285 1,467,374 370,355 ^ 3 , 9 6 7 221,462 294,296 632,796 174,385 145,330 212,906 143,242 421,019 4,974,423 St. 4865c RESOURCES' AED LIABILITIES OF TBI FEDERAL RESERVE. BANKS. ON MARCH 3, 193§> (In thousands of d o l l a r s ) L I A B I L I T I E S Boston New York Phila. Clave. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total F. R. notes in actual c i r c u l a t i o n 157,404 371,283 145,049 203,448 77,556 160,832 163,046 37,043 64,519 65,165 39,335 190,671 1,675,354 Deposits: 142,475 856,855 132,655 179,034 70,650 80,234 324,o4l 83,347 52,113 87,135 58,703 157,057 2,224,329 Member bank - reserve account 8,041 4,230 2,595 3,519 805 6,264 10,868 2,321 8,075 2,593 1,144 2,017 52,472 Government 405 2,291 506 570 282 213 730 229 171 208 187 368 6,160 Foreign bank 121 8,584 72 1,057 128 48 1,194 1,408 213 145 52 6,300 19,322 Other d e p o s i t s 151,042 871,960 135,828 184,180 71,895 86,759 336,833 87,305 60,572 90,081 60,086 165,742 2,302,233 Total d e p o s i t s 59,528 127,839 56,666 68,892 53,235 32,611 84,209 34,611 11,646 43,831 31,424 39,551 644,103 Deferred a v a i l a b i l i t y items 8 , 6 6 2 33,795 11,909 13,460 6,049 4,870 15,889 5,155 3,155 4,237 4,279 8,261 119,721 Capital paid i n 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 Surplus 632 2,533 439 1,093 808 524 2,146 704 937 613 500 1,723 12,652 All other l i a b i l i t i e s 394,288 1,467,374 370,355 493,967 221,462 294,296 632,796 174,388 148,330 212,906 143,242 421,019 4,974,423 TOTAL LIABILITIES 76.3 78.0 73.7 78.7 66.5 71.5 70.2 54.6 75.5 54.4 61.9 73.1 73.2 Reserve r a t i o (per cent) Contingent l i a b i l i t y on b i l l s pur21,648 7,951 8,955 4,436 3,348 11,465 3,599 2,678 3,264 2,929 5,775 82,408 chased f o r f o r e i g n correspondents 6,360 c T r c ' i l ^ n ) 19,166 141,278 I'.R. notes ^ e l d ' b j T K ^ g l n t ^ F.R. notes issued to 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 Total c o l l a t e r a l ^O.lOO 176,570 226!360 ^ ' . 6 4 0 ^ I Q O ^ ' . 4 5 0 ^ 6 3 2 234^37 512,561 176,888 222,120 94,043 181,260 180,922 Ifr.lgO 42,275 20,59s 67,092 0 71,437 4,570 46,346 330,739 15^7 ^ 5 % 43,908 237,017 2,006,093 11II -IIIIII 'II 'is II1111 I f « SI 185,447 525,752 186,094 259,530 106,S16 184,897 249,087 54,726 79,598 82,008 45,940 255,837 2,218,762 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS Within" 15 days Bills discounted B i l l s bought i n open market C e r t l f i c a t e a o f . . i n d e h,t.e d n a s s-. 31,839 18,672 l 6 , U 8 7 20,428 17,876 5,232 2,573 6,272 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 465,043 110,558 1& l 6 to 3O days 28,917 55,568 31 to 60 days 6l to 90 days 47,586 84,340 30,700 31,508 ^ days^to 8,355 ^,633 Qver 6 months Total 2,613 ^ % %
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