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Released, f o r p u b l i c a t i o n Friday morning, May l j j ; not e a r l i e r . STATEMENT FOR THE PRESS st.5366 F e d e r a l Reserve Board May 12, 1927. CONDITION OF FEDERAL RESERVE BAMFS 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 t h e F e d e r a l r e s e r v e "banks on May 11, made p u b l i c "by t h e F e d e r a l Reserve Board, shows d e c l i n e s f o r t h e week of $139>200,000 in "bill and s e c u r i t y h o l d i n g s and of $54, 700,000 in member "bank r e serve "bank d e p o s i t s , and an i n c r e a s e of $27,700,000 in cash r e s e r v e s . Holdings of discounted "bills d e c l i n e d $65,700,000, of Government s e c u r i t i e s $62,400,000, and acceptances purchased i n open market $11,200,000, The F e d e r a l Reserve Bank of New York r e p o r t s a d e c l i n e of $24,800,000 in holdings of d i s c o u n t e d " b i l l s , t h e Chicago bank a d e c l i n e of $24,400,000, and San Francisco of $14,100,000. The New York bank a l s o r e p o r t s a d e c l i n e of $9,300,000 in open-market acceptance h o l d i n g s , and St. Louis a d e c l i n e of $2,300,000* 'The System's h o l d i n g s of Treasury c e r t i f i c a t e s were $63,400,000 below the preceding week's t o t a l and of Treasury n o t e s $600,000 "below, while h o l d i n g s of United S t a t e s bonds i n c r e a s e d $1,600,000„ During t h e week of gold, the banks. This gold i s now the New York bank and i s abroad." $59,5^3,000 the F e d e r a l Reserve Bank of New York purchased abroad purchase b e i n g p a r t i c i p a t e d in by a l l F e d e r a l r e s e r v e h e l d earmarked by one of the f o r e i g n c o r r e s p o n d e n t s of shown i n the statement a g a i n s t a new item "Gold h e l d The p r i n c i p a l changes in Federal r e s e r v e note c i r c u l a t i o n f o r the week comprise a d e c l i n e of $3,200,000 r e p o r t e d by the New York bank, and i n c r e a s e s of $4,000,000 r e p o r t e d by P h i l a d e l p h i a ] $3,800,000 by Cleveland, and $2,800,000 by San F r a n c i s c o . 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 r e serve banks during the week and the year ending May 11, 1927, f o l l o w s : I n c r e a s e o r decrease during Week Total r e s e r v e s Gold r e s e r v e s + $27,700,000 +$267,600,000 . + 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 d i s c o u n t e d B i l l s bought in open market .c 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 Federal reserve notes in c i r c u l a t i o n . . . . 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 w. "ear 26,300,000 + 266,60C y 000 - 139,200,000 - 182,200,000 - 65,700,000 - 34,400,000 5,400,000 - 51,500,000 + - 14,200,000 - 39,800,000 - 11,200,000 + 62,400,000 - 142,400,000 1,600,000 600,000 63,400,000 2,400,000 + 4,900,000 29,700,000 72,900,000 39,800,000 42,800,000 63,500,000 + 80,100,000 54,700,000 + 78,000,000 4,000,000 - 10,100,000 Released, f o r p u b l i c a t i o n F r i d a y morning, Uay 13, not e a r l i e r . S t . 5366; RESOURCES AP'D LIABILITIES OF THE TWELVE FEiJERAL HFSEEV.HJ BA^TKS COMBINED ( i n t h o u s a n d s of d o l l a r s ) May 11,1927 May 4, 1927 May 12, 192; R E S O U R C E S 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 redemption f u n d w i t h U. S. T r e a s u r y . 1,631,543 U-9,235 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 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 . 1,680,778 S4O,522 748,854 Total gold r e s e r v e s Reserves other than gold 3,070,154 • Total b i l l s d i s c o u n t e d 1,471,677 45,657 1,518,334 694,657 727,632 645,954 3,043,903 lb2,728 2,803,580 63,106 3,206,631 60,430 2,966,739 60,486 257,083 184,894 199,059 224,740 441,977 507,642 476,414 164,199 Total reserves • E o n - r e s e r v e 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 1,571,158 50,456 l,621,6l4 3,234,353 308,533 638,292 163,159 251,674 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 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 233,051 244,220 228,162 71,2l4 90,369 69,598 90,957 155,724 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 F o r e i g n l o a n s on g o l d 253,896 316,279 1,800 1,800 100,923 163,223 132,116 396,262 4,635 T o t a l b i l l s and s e c u r i t i e s Gold h e l d abroad 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 All other resources . 930,724 TOTAL RESOURCES 92,313 - 59,548 . . . . 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 a c c o u n t Government F o r e i g n bank Other d e o o s i t s Deferred a v a i l a b i l i t y items Capital paid in Surplus . . . . . All o t h e r l i a b i l i t i e s 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 c h a s e d for foreign correspondents • c. 12,743 58,6I4 12,95% 690,879 5,016,529 5,085,087 16,804 4,903,211 1,718,345 • 1,720,75% 1,675,535 2,326,222 2,193,512 4,945 %,955 19,733 2,329,296 605,250 128,962 2,245,684 5,016,529 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 F. R. n o t e l i a b i l i t i e s combined . . . . , - 660 656,512 58,883 128,888 228,775 13.590 TOTAL LIABILITIES - 1,112,874 660 676,857 2,271,491 17,432 4,494 32,352 2,325,769 601,162 Total deposits 1,069,941 7,401 13,445 44,684 778 59,651 27,484 627,899 122,408 228,775 220,310 5,086,087 4,908,211 13,050 80.0% 78.0# 156,828 148,990 16,375 75-1$ 64,735 RE S O U R C E S RESOURCES i33T LIABILITIES OF THE FEDERAL RESERVE BAMS OH MAY 11, 192?. ( i n thousands of d o l l a r s ) Boston Gold with Federal Reserve Agents 122,413 Gold redemption fund w i t h U.S.Troas. 9 , 1 3 8 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 Reserves other than g o l d Total r e s e r v e s Hon-reserve cash B i l l s discounted: Secured by U.S.Govt, 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 d i s c o u n t e d 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 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 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 Gold h e l d abroad Dae from f o r e i g n banks U n c o l l e c t e d items Bank premises All other r e s o u r c e s TOTAL RESOURCES C. Rich. A t l a n t a Chicago S t . L o u i s 6o, 153 157 , 279 244,143 17,165 2,055 2,464 2,013 2,053 Minn. Kans.Cy. D a l l a s San Fran. Total 54,229 57,973 32,053 197,025 1,631,543 2,013 3 , 2 0 8 1,623 2,64l 49,235 62,208 159,743 246,156 19,218 5b,242 51,181 33,676 199,666 1,680,778 1 5 , 1 5 4 127,742 4 , 6 8 4 56,172 21,930 15,343 13,630 7,332 28,80I 7,554 18,831 9,009 204,368 1,085,315 202,182 313,914 9 4 , 1 8 3 1 7 9 , 5 8 1 430,070 56,491 97,596 5,692 61,516 267,734 3,070,154 6 9 , 1 3 1 276,435 3 , 2 3 4 , 3 5 3 131,551 Gold settlement fund v/ith F.R.Board 42,957 Gold and g o l d c e r t i f . h e l d by banksi 29,860 Total gold r e s e r v e s Hew York P h i l a . Clove. 372,192 119,221 197,697 12,446 7 , 0 o l 2,520 S t . 53651 384,638 126,282 200,217 205,743 494,934 47,216 28,684 55,611 58,08b 26,573 5,402 24,753 19,200 77,204 4,311 1 , 1 1 9 , 4 6 7 207,537 323,42b 103,319 1 9 3 , 6 2 4 454,823 15,244 6,435 1,670 3 , 7 1 7 6,679 5,229 10,048 75,691 8 1 , 5 1 5 103,288 21,729 226,097 19,497 34,152 5,355 9,512 9,136 8,560 14,043 7,615 36,274 31,794 8,701 640,522 748,854 IT4,199 3, 730 1,589 2,34s 3,007 3,410 63,106 102,073 37,308 25,320 13,568 32,046 11,723 4,846 13,121 29,492 28,805 19,123 8,569 8,820 2,8Q8 3,4oo 4,721 11,113 1,548 2,353 18,200 20,878 257,083 184,894 139,381 53,126 38,888 13,576 43,829 20,402 21,681 10,392 34,338 17,389 14,200 5,29s 12,422 15,334 11,230 3,901 11,457 47,928 31,6l6 10,268 39,078 21,051 441,97? 23X051 2,129 2,099 2,833 8,442 13,012 17,063 1,200 5,145 11,742 3,983 16,719 11,694 1,918 .1,408 1,881 277 392 3,613 23,236 6,547 9,457 5,333 10,110 7,753 5,615 5,139 2,38b 10,338 4,973 6,929 5,019 9,152 3,724 15,5:8 71,214 90,369 92,313 7,061 38,517 18,087 32,396 5,207 4,282 39,24o 23,196 13,640 22,245 20,443 29 , 582 253,896 1,800 13,935 33,432 23,311 — - 1,500 - 300 - 63,804 231,024 72,051 37,280 16,495 660 96,627 4,466 5,717 6,312 3,097 163,522 55,943 1,737 — 63,574 3,946 39 - - 61,933 7,119 1,084 — — 50,377 118,784 2,44% 8,218 — 54,146 27,564 34o 1,820 - 80,512 8,176 1,543 — — — 32,360 49,309 34,612 2,561 1,73b 2,203 2,084 — 32,626 — 3,957 878 368,36i' l,565,490 344,811 500,218 207,163 283,953 682,104 174,228 134,434 2,802 156 2,302 2,898 — 54,785 12,572 2,774 1,838 16,276 6,272 10,190 - — 40,672 24,068 4,459 60S 202,887 1,752 397 — 89,711 4,168 — 39,330 3,487 l , 233 135,051 417,829 930,724 59,548 660 656,512 58,883 12,743 5,016,529 RESOURCES AHD LIABILITIES' OF THE FEDEE.'UL RESERVE BAMS OH MY 11, 1927. St, 5366c L I A B I L I T I E S ( I n t h o u s a n d s of d o l l a r s ) B o s t o n Hev? York Phi l a . Cleve, R i c h . A t l a n t a Chicago S t . L o u i s Minn. Xans.Cy. D a l l a s San F r a n . T o t a l F.Ri notes in actual c i r c u l a t i o n 130,370 403,026 124,763 214,300 66,199 171,268 222,871 42,654 63,000 64,734 36,615 172,435 1,718,345 Deposits: Member "bank - r e s e r v e account 14g,o46 887,255 132,406 187.378 67,850 69,513 334,490 81,401 47,570 87,166 58,141 170,275 2,271,491 Government 750 2,799 1,393 859 2,624 1,000 1,345 1,200 1,286 1,582 1,569 1,025 17,432 Foreign, bank 346 1,160 443 489 240 189 636 198 138 161 171 4,494 323 Other d e p o s i t s l4o 25,114 163 1,135 86 101 1,188 241 119 175 32 3,858 32,352 Total deposits 149,282 916,328 134,405 189,861 70,800 70,803 337,659 83,o4O 49,113 8 9 , 0 9 4 59,903 175,431 325,769 Deferred a v a i l a b i l i t y items 61,603 142,287 50,958 57,031 51,031 26,549 70,142 32,310 10,759 35,I4O 25,561 37,791 601,162 Capital paid in 9,027 38,770 12,944 13,844 6,189 5,108 17,023 5,292 2,997 4,215 4,253 9,221 128,388 Surplus 17,606 61,6i4 21,267 23,746 12,198 9,632 31,881 9,939 7,527 9,029 8,215 16,121 228,775 All other l i a b i l i t i e s 473 3,405 474 1,436 746 593 2,523 _ 993 1,038 675 499 730 13,590 TOTAL LIABILITIES 368,361 1,565,490 344,811 500,218 207,163 283,953 632,104 174,228 134,434 202,887 135,051 417,829 5,016,529 Reserve r a t i o (per c e n t ) 80.8 34:8 80.1 80.0 75.4 80.0 81.1 60.2 67.1 72.7 71. b 78.1 80.0 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 chased f o r f o r e i g n correspondents 11,612 44,885 14,864 16,412 8,051 6,348 21,367 0,65s 4,645 5,729 5,419 10,833 156,823 P . R . n o t e s on hand ( n o t e s r e c ' d from F.R.Agent l e s s n o t e s i n c i r c u l a t i o n ) 2 7 , 5 3 0 128 , 241 38,453 24,739 l6,94o 29,163 52,978 3,366 4,668 9,936 5,527 41,344 382,950 FEDERAL RESERVE MOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F. R. n o t e s r e c ' d f r o m C o m p t r o l l e r 247,300 823,407 193,521 277,329 106,113 275,841 456,949 68,760 86,375 101,510 60,239 264,929 2,962,273 F. R. n o t e s h e l d by F. R, Agent 39,400 292,080 30,300 33,290 22,974 75,410 181,100 22,740 18,707 26,340 18,037 45,100 860,q78 F . E . n o t e s i s s u e d t o F. R. Bank 157,900 531,327 163,221 239,039 83,139 200,431 275,849 46,020 67,668 74,670 42,202 219,829 2,101,295 Collateral held as security for 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 235,104 35,300 235,104 3 , 7 8 0 36,468 16,457 7,750 13,507 18,233 40,000 4 n , 6 o 4 Gold r e d e m p t i o n f u n d 18,113 22,088 13,144 13,917 3,685 4,822 2,143 1,115 1,722 4 , 1 1 3 2 , 8 1 5 19,947 107,624 Gold f u n d - F. R. Board 69,000 115,000 106,077 175,000 20,000 136,000 242,000 8,300 3 9 , 0 0 0 53,86o 11,000 137,07s 1,112,315 E l i g i b l e paper 56,743 180,503 44,973 62,517 29,963 45,535 78,999 31,163 18/615 26,923 14,128 59,495 649 , 557 Total c o l l a t e r a l 179,156 552,695 164,194 260,214 90,116 202,814 323,142 48,328 72,844 84,396 46,131 256,520 2,231,100 MATURITY DISTRIBUTION OF BILLS AHD CERTIFICATES OF INDEBTEDNESS W i t h i n 15 days T i l l s discounted - 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 C, 352,436 123,201 300 16 t o 30 d a y s 31 t o 60 days 6 l t o 90 days 21,260 34,265 13,764 9,424 570 52,939 43,831 55,774 ^ day f\ t o 0 montns 13,791 3,656 14,514 Over Over 66 months months l,4ll 21,155 Total 441,977 233,051 92,313
@FedFRASER