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STATEMENT FOR TFE PRESS Released for p u b l i c a t i o n F r i d a y morni~g, May l 4 ; not e a r l i e r S t . 4n47 F e d e r a l R e s e r v e Board May 13, 192-6. CONDITION OF FEDEE4L RSSEliVF 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 May 12, 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 Board, shows a d e c l i n e of $551' r -00,000 i n h o l d i n g s of b i l l s and s e c u r i t i e s , and of $ 3 7 , 3 0 0 , 0 0 0 i n memb e r bank r e s e r v e d e p o s i t s , and i n c r e a s e s of $ l b , 2 0 0 , 0 0 0 i n c a s h r e s e r v e s , and $.5,500,000 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 . Holdings of d i s c o u n t e d b i l l s were $ 7 0 , 8 0 0 , 0 0 0 lower t h a n a week a g o , 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 p u r c h a s e d i n open market and of Government s e c u r i t i e s were $ 1 4 , 8 0 0 , 0 0 0 and $ 1 , 0 0 0 , 0 0 0 , r e s p e c t i v e l y , above l a s t w e e k ' s f i g u r e s . 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 s m a l l 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 C l e v e l a n d and B o s t o n , which show i n c r e a s e s of $^2,300,000 and $ 2 , 8 0 0 , 0 0 0 , r e s p e c t i v e l y . The p r i n c i p a l r e d u c t i o n s i n d i s count h o l d i n g s were; New York $ 5 9 , 1 0 0 , 0 0 0 , Chicago $ 1 1 , 9 0 0 , 0 0 0 , San F r a n c i s c o $ 9 , 8 0 0 , 0 0 0 , A t l a n t a $ 4 , 5 0 0 , 0 0 0 , and S t . Louis $ 4 , 0 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 $ 1 1 , 9 0 0 , 0 0 0 a t t h e New York bank and $ 5 , 1 0 0 , 0 0 0 a t B o s t o n , w h i l e t h e o t h e r banks show s m a l l e r changes i n a c c e p t a n c e h o l d i n g s f o r the week. H o l d i n g s of U n i t e d S t a t e s bonds i n c r e a s e d $1,900,000 and of T r e a s u r y n o t e s $700,000, 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 of i n d e b t e d n e s s d e c r e a s e d $ 1 , 6 0 0 , 0 0 0 . 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 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 i n c l u d e an i n c r e a s e of $ 3 , 8 0 0 , 0 0 0 a t t h e Chicago bank, of $ 3 , 3 0 0 , 0 0 0 a t P h i l a d e l p h i a , and of $ 2 , 6 0 0 , 0 0 0 a t C l e v e l a n d , and a d e c r e a s e of $ 2 , 7 0 0 , 0 0 0 a t Boston. 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 e n d i n g May 12, 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 Total reserves Gold r e s e r v e s . 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. 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 i n open market . . . 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 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 deposits 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 . . . . t$16,200,000 + 11,000,000 - $ 27,500,000 49,Q00,000 - + + 55,200,000 70,800,000 50,600,000 20,200,000 . + 14,800,000 . . . + + + •. . . . Year 4. 99,300,000 137,700,000 90,400,000 47,300,000 - 54,200,000 1,000,000 1,900,000 700,000 - 1,600,000 )+ 1 6 , 3 0 0 , 0 0 0 + 15,500,000 -107,800,000 +108,500,000 + 3,500,000 700,000 -4o,400,000 -37,300,000 300,000 + 45,700,000 + 39,500,000 + 2,000,000 Released f o r p u b l i c a t i o n F r i d a y morning, May lit, 1926; not e a r l i e r . S t . 4947a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAFTS COMBIEEP ( i n t h o u s a n d s of d o l l a r s ) May 12. 192b 'fey 5. 1926 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 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 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 I . 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 gold c e r t i f i c a t e s h e l d by banks . T o t a l gold r e s e r v e s R e s e r v e s o t h e r t h a n gold Total r e s e r v e s . . . . . 638,292 . 2,803,580 Non-reserve cash Bills 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 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 1,471,677 46,657 1,518,334 646,954 Other s e c u r i t i e s F o r e i g n l o a n s on gold . . 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 o t h e r r e s o u r c e s 1,460,033 l,b2&,982 614,266 700,106 632,397 610,267 163,159 2,966,739 60,486 57,19S 56,366 251,674 302,280 244,901 161,263 177,459 47b,414 228,162 547,1£1 338,722 282,986 224,740 396,262 4,635 7,401 1,112,874 778 690,879 59,651 16,804 TOTAL RESOURCES 1,581,014 47,965 2,853,515 140,721 2,994,236 132,116 Total U. S. Government s e c u r i t i e s . 1,4l4,l4l 45,892 *,792,536 158,045 2,950,551 100,923 163,223 . . . . . May 13, 192' 213,384 99,092 85,377 162,513 270,988 23,612 395,326 379,977 1,400 133,721 4,635 7,500 1,168,026 10,500 6E6 1,013,585 640 644,473 690,032 59,554 16,831 59,495 22,581 4,908,211 4,897,349 4,836,938 1,675,535 1,672,016 1,676,204 2,193,512 27,484 4,955 19,733 2,245,684 c,230,801 27,785 5,227 ' 2,153,999 19,532 22,225 20,020 d,286,035 2,200,030 627,599 122,408 220,310 16,375 581,175 122,18b 220,310 15,624 bl4,531 115,270 217,837 13,066 4,908,211 4,597,349 4,836,938 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 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 C a p i t a l paid i n Surplus All o t h e r l i a b i l i t i e s TOTAL LIABILITIES . . . . 6,479 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 . . . . 75.7% 74.5% 11'2-fo 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 . . . . . . . 64,735 65,509 42,828 C. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MAY 12, i g 2 b _ . St. 4947 b (In thousands of dollars) Boston New York Phi la. Cleve. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy. Dallas San Fran. Total Gold with Federal reserve agents 129,205 368,595 1 24,029 171,927 43,418 165,302 149,232 18,103 49,399 44,172 25,698 182,597 1,471 677 Geld redemption fund with U.S.Treas.10,144 8,962 6,743 2,bbl 2,762 3,042 3,257 688 2,780 1,578 .1,314 2,72 b 46]657 Gold held exclusively against P. h. notes 139,349 377,557 130,772 174,588 46,180 168,344'152,489 18,791 52,179 45,750 27,012 185,323 1,518,334 Gold settlement fund witn F .R. Board 43,217 212,398 59,419 51,195 ^ , 8 9 3 26,324 1 31,604 13,472 14,533 28,187 '8,216 33,496 b46,954 Gold and gold c e r t i f i c a t e s 35,2a 367 , 651 22,222 46,622 8,081 4,369 &3,06b 18,618 6,882 b,38S 9,619 29,553 638,292 RESOURCES L°talreserves Heserv-s other than gold Total reserves Non-reserve cash B i l l s discounted: Secured by U.S.Govt, obligations Other b i l l s discounted 217,787 21,274 957,b06 212,413 272,405 44,426 ' 8,108 7,418 79,154 199,037 367,159 7,789 9,354 20,871 50,881 20,251 73,594 3,237 80,325 5,385 44,847 245,372 2,803,580 5,958 9,058 103,159 239,061 1 , 0 0 2 , 0 3 2 220,521 279,823 4,070 17,261 1,515 2,995 8 6 , 9 4 3 208,391 388,030 4,057 4,581 12,847 71,162 76,831 85,710 3,924 1,248 2,256 50,805 257,430 2,906,739 60,486 2,581 3,14S 8,476 2,460 4,660 3,717 14,911 1,665 7,724 22,726 23,398 251,674 7,120 13,940 18,628 9,417 9,329 7,778 46,184 18,996 476,414 228,162 9,486 6,549 3,793 19,828 12,456 163,223 132,116 10,186 11,986 84,204 22,841 18,462 51,128 15,256 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 22,172 23,491 107,045 70,181 45,364 10,744 69,354 15,718 3,582 5,883 7,824 11,762 39,563 25,824 3,088 2,915 17,720 11,542 18,053 7,523 4,058 2,085 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 17,289 77,149 23;723 3,575 2,028 703 37,118 9,343 Total b i l l s and s e c u r i t i e s 63,514 Due from f o r e i g n banks Uncollected items Bank premises All otner resources TOTAL RESOURCES C. - 562 256,403 778 169,243 26,902 14,395 22,505 32,711 13,751 55,216 22,227 21,193 7,458 272 25,915 249 22,048 3,253 11,860 4,799 11,091 11,452 3,774 560 296 27,342 2,638 28,670 27,982 43,065 30,620 22,439 6,807 3,200 - - 792 392 84,109 123,012 59,607 59,823 1,014 31S 500 237 57,689 137,246 57,345 41,625 - - 14,660 10,623 14,261 8,610 10,463 4,358 23,893 21,549 37,739 33,334 49,800 - - - 289 66,073 511 259 224,740 100,923 396,262 4,635 7,401 50,760 115,491 1,112,874 778 61,463 6 3 , 8 2 3 56,656 31,846 85,451 34,657 14,221 40,583 25,136 40,401 67,399 690,879 4,068 16,714 2,814 4,111 7,409 2,3b4 1,558 4,654 2,943 3,290 59,651 1,793 7,933 418 941 404 1,494 2,150 315 16,804 96 1,077 512 5,53* 632 3,227 378,208 1,467,969 369,584 478,006 <09,942 306,398 633,001 171,711 139,018 199,908 131,479 422,987 4 , 9 0 8 , a i - - - - - - — - - - — 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 F o r e i g n bank Other deposits Total deposits Deferred a v a i l a b i l i t y items Capital paid in Surplus All other l i a b i l i t i e s S t . 4547c RESOURCES AND-LIABILITIES OF THE FEDERAL.RESERVE BAMS ON MAY 12, 19.2b. ( I n t h o u s a n d s of d o l l a r s ) Boston New York P h i l a . C l e v e . R i c h . 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 F r a n . T o t a l Ii40,060 367,812 142,891 1 9 8 , 8 5 4 72,756 1 8 6 , 8 0 2 183,216 37,404 62,666 62,010 3 5 , 5 0 6 185,558 1 , 6 7 5 , 5 3 5 143,691 1,987 351 UO 843,694 133,697 1 7 9 , 5 4 7 5,649 2,698 2,189 1,599 439 495 10,39b 220 l ,069 64,627 1,0a 245 171 74,007 319,546 1,645 4,797 185 633 87 820 81,689 1,560 199 323 49,568 2,047 14s 207 85,192 1,687 180 116 55,337 162,717 2 , 1 9 3 , 5 1 2 1,263 941 27,484 162 319 4,955 46 6,108 19,733 14b,339 b5,247 8,772 17,020 770 801,338 1 3 7 , 0 5 4 1 8 3 , 3 0 0 1 4 0 , 4 6 3 56,330 57,968 35,2*3 12,129 13,487 59,964 20,464 22,894 3,169 710 1,503 ob,064 52,093 b,0ob 11,919 1,044 75,924 325,79b 29,139 74,570 4,940 lb,418 8 , 7 0 0 30,613 893 2,388 83,771 34,797 5,274 9,570 895 51,970 1 2,484 3,149 7,501 1,248 87,175 36,608 4,262 8,979 574 56,808 170,145 2 , 2 4 5 , 6 8 4 26,511 41,683 627,899 4,299 8,389 122,408 K 220,310 7,615 1 5,071 2,141 740 16,375 378,20& 1 , 4 6 7 , 9 6 9 369,554 4 7 8 , 0 0 6 209,942 306,39s 633,001 171,711 139,018 1 9 9 , 9 0 8 131,479 422,987 4 , 9 0 8 , 2 1 1 TOTAL LIABILITIES 72.4 55-0 67.O 75-7 62.6 76.2 57.5 58.7 78.8 81.5 73-2 79-3 Reserve r a t i o (per cent) 63.5 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 4,484 2,080 2,600 64,735 2,275 2,535 3,444 2,794 8,903 o,174 6,954 17,553 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 4,939 F . R . n o t e s on hand ( n o t e s r e c ' d f r o m 322,772 5,353 32,343 5,359 4,731 5,669 142,251 2S.53S 1 4 , 4 3 6 1 5 , 0 8 6 2 9 , 9 1 2 2 2 , 6 1 2 7 . R . A g e n t l e s s n o t e s i n c i r c u l a t i o n ) 15,982 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 764,503 210,569 267,233 1 1 9 , 8 8 2 267,704 4 0 8 , 6 6 5 64,943 85,260 114,249 5 4 , 3 9 6 275,881 2 , 8 3 7 , 4 6 4 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 203,892 839,157 254,440 39,440 53,930 32,040 5 0 , 9 9 0 202,837 22,130 1 7 , 8 6 3 4 6 , 5 7 0 13,037 57,980 4 7 , 5 5 0 F . R. n o t e s h e l d by F. R. Agent 156,042 510,063 171,429 a 3 , 2 9 0 5 7 , 8 4 2 a 6 , 7 1 4 2 0 5 , 8 2 s 42,763 67,397 67,679 4 1 , 3 5 9 2 1 7 , 9 0 1 1 , 9 9 8 , 3 0 7 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 e 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 to F.R.Bank: 8,045 13,212 18,726 10,000 305,054 35,300 171,69s 400 6 , 7 8 0 25,655 13,238 Gold and %old c e r t i f i c a t e s 1 , 5 5 8 2,187 2 , 8 1 2 3 , 4 7 2 15,651 106,175 4 , 2 6 3 7,564 3,587 14,905 25,897 H , 1 3 2 1 3 , 1 ^ 7 Gold r e d e m p t i o n fund 8 , 5 0 0 34,000 4 1 , 3 6 0 3,500 156,946 1 , 0 60,448 1 3 , 5 0 0 1 4 4 , 5 0 0 145,645 79,000 1 7 1 , 0 0 0 112,497 1 5 0 , 0 0 0 Gold f u n d - F. R. Board 28,639 20,983 2 7 , 9 2 5 1 7 , 1 2 9 64,334 682,765 47,379 52,366 76,253 45,063 167,472 50,03c s 4 , 5 3 4 E l i g i b l e paper 174,868 536,067 174,117 256,461 90,797 217,668 225,485 4 6 , 7 4 2 70,382 72,097 42,827 246,931 2 , 1 5 4 , 4 4 2 Total c o l l a t e r a l MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS 91 days t o Total 6 months Ov bl t o 90 days V/itrAn 15 days l o t o 30 days 31 t o 60 days 6 months 476,414 2,786 22,557 26,983 51,145 32,237 340,706 B i l l s discounted 228,162 2 , 6 8 5 10,019 4 2 , 4 2 0 3 6 , 9 4 6 136,092 B i l l s bought i n open market 132,116 22,105 51,675 52,527 4,669 1,120 C e r t i f i c a t e s of indebtedness Digitized forC. FRASER
@FedFRASER