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STATEMENT POR THE FRSSS Beleased f o r p u b l i c a t i o n F r i d a y morning, May 25; not e a r l i e r , S t . 5792 F e d e r a l Reserve B o a r d , May 24, 1928. CONDITION OF FEEERAL RESERVE 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 b a n k s on May 23. made p u b l i c by t h e F e d e r a l Re s e r v e Board, shows an i n c r e a s e f o r t h e week of $ ^ 0 , 1 0 0 , 0 0 0 i n h o l d i n g s of d i s c o u n t e d b i l l s , and d e c r e a s e s of $31,800,000 i n Government s e c u r i t i e s , of $16,700,000 i n b i l l s b o u g h t i n open m a r k e t , of $ 3 . 7 0 0 , 0 0 0 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 , of $12,500,000 i n member bank r e s e r v e d e p o s i t s , and of $ 6 , 3 0 0 , 0 0 0 i n : c a s h 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 were $ 8 , 5 0 0 , 0 0 0 below t h e amount h e l d on May l S . The p r i n c i p a l changes i n h o l d i n g s of d i s c o u n t e d b i l l s d u r i n g t h e week were i n c r e a s e s of $12,000,000 i t t h e F e d e r a l Reserve Bank of B o s t o n , $11,300,000 a t S t . L o u i s , $11,000,000 a t New York and $ 1 0 , 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 $ 1 6 , 7 0 0 , 0 0 0 a t Chicago. The S y s t e m ' s h o l d i n g s of b i l l s bought i n open market d e c l i n e d $ 1 6 , 7 0 0 , 0 0 0 , of 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 8 , 5 0 0 , 0 0 0 , and of T r e a s u r y n o t e s $ 1 5 , 3 0 0 , 0 0 0 , w h i l e h o l d i n g s of U. S. bonds i n c r e a s e d $ 2 , 0 0 0 , 0 0 0 . 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 e c r e a s e d $ 3 , 7 0 0 , 0 0 0 d u r i n g t h e week, t h e p r i n c i p a l c h a n g e s b e i n g d e c r e a s e s of $ 3 , 3 0 0 , 0 0 0 a t New York, $ 1 , 9 0 0 , 0 0 0 a t San F r a n c i s c o and $ 1 , 8 0 0 , 0 0 0 each a t P h i l a d e l p h i a and A t l a n t a and an i n c r e a s e of $ 3 , 3 0 0 , 0 0 0 a t Chicago. A sujomary 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 23, 1928, f o l l o w s : Increase or decrease 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 . G o v t , 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 . . — $ 5,300,000 6,500,000 8,500,000 + + Uo,ioo,ooo 26,000,000 14,000,000 - + + - - + + + $382,400,000 377,700,000 421,000,000 418,900,000 345,900,000 73,000,000 16,700,000 + 94,400,000 31,800,000 2,000,000 — 91,400,000 - 15,300,000 18,600,000 Federal reserve notes i n circulation - 3,700,000 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 . . . . . . . - 17,600,000 ' 12,500 >000 4,000,000 Year 4- - - during - 48.6oo.ooo 8,800,000 - 34,000,000 - 126,400,000 + + - 91,000,000 101,900,000 2,700,000 R e l e a s e d f o r p u b l i c a t i o n F r i d a y morning, May 25, 192S; not e a r l i e r . S t . 5792a RESOURCES AH) LIABILITIES 0 ? TE'.i 5'CSLVB FEDERAL Et, SERVE BAitfKS OOMDINB ) ( i n t h o u s a n d s of d o l l a r s ) May 23,1928 RE S O U R C E May 16,1928 May 25.1927 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 7.1th U . S . T r e a s u r y . . 1,130,353 68,114 1,153,806 71,783 1,651,246 47,130 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 1,198,467 1,225,589 1,698,376 796,154 619,066 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 . 814,595 Total gold r e s e r v e s . . . . . . . Reserves other than e o l d * . 2,634,292 2,640,809 161,093 160,828 3,011,977 165,848 2,801,637 3,177,825 Total reserves . . 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 . 621,230 2,795,385 67,627 . . Total b i l l s discounted B i l l s bought i n ooen 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 i n d e b t e d n e s s 258,846 199,905 847,472 807,412 428,620 347,292 236,170 54,544 105,173 93,978 85,160 100,417 107,359 230,481 262,320 990 1,409,505 990 1,418,014 88,793 TOTAL asSOURCES 228,715 548,566 06,52s 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 f r o m 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 60,197 574,589 272,883 330,562 T o t a l U. S. Government s e c u r i t i e s . . Other s e c u r i t i e s 64,189 552,216 761,385 — 571 656,931 6o,oi4 9,439 570 766,59s 59,551 122,769 321,920 1,800 988,510 59,548 660 9,482 639,383 58,882 13,509 4,999,472 5,120,041 4,998,514 1,579,383 1,533,095 1,705,804 2,369,648 2,382,156 25,508 2,267,762 5,923 19,459 5,997 20,492 2,416,535 2,434,153 612,621 139,626 233,319 17,988 712,847 139,201 233,319 17,426 4,999,472 5,120,041 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 d e p o s i t s . . . . Total deposits . . . . . . . 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 TOTAL LIABILITIES 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. note l i a b i l i t i e s combined . . . . 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 for foreign correspondents C. 21,505 lO.Ofo 266,955 24,185 5,757 27,858 2,325,562 595,189 129,030 228,775 14,154 4,998,514 69.7# 78.8$ 264,566 159.674 B&S0BRGBS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ( i n t h o u s a n d s of d o l l a r s ) T o t a l B o s t o n Hew York F h i l a . Cleve. Gold vri+h F e d e r a l R e s e r v e Agents 1,130,353 75,104 176,075 8 6 , 0 0 5 152,727 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 . 6 8 , 1 1 4 5,658 1 5 , 6 8 5 13,870 4,587 Gold h e l d e x c l u s i v e l y a g a i n s t 1-, R. n o t e s 1 , 1 9 8 , 4 6 7 80,762 :. 191,760 99,875 1 5 7 , 3 1 4 Gold s e t t l e m e n t f u n d vrith F.R.Board 814,595 55,600 330,820 46,445 6 2 , 8 7 3 Gold and g o l d c e r t i f . h e l d "by hanks 621,230 24,594 385,133 24,558 3 8 , 2 1 4 Off MAY 23, 1928. S t . 5793) R E S O U R C E S / - Total gold 3»gerves Reserves other than gold TofcaEL r e s e r v e s 2 , 6 3 4 , 2 9 2 160,956 161,093 15,928 2,795,385 176,884 907,713 170,878 258,401 34,023 67,627 5,025 21,857 574,589 272,883 42,515 Total b i l l s discounted l o t a l U.S.Govt, s e c u r i t i e s Other s e c u r i t i e s t o t a l b i l l s and s e c u r i t i e s Stte f r o m 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 T0T.IL RESOURCES 13,532 941,736 178,337 271,933 Eon-reserve cash B i l l s discounted: Secured b y U . S . G o v t , o b l i g a t i o n s Other b i l l s discounted B i l l s b o u g h t i n open market 17. 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 i n d e b t e d n e s s 7,459 2,070 4,101 39,383 47,133 R i c h . A t l a n t a Chicago S t . L o u i s 28,972 93,087 215,505 23,502 2,388 4,560 8,271 4,304 31,360 13,248 17,497 97,647 223,776 8,528 152,935 75,932 26,600 20,099 20,066 96,031 46,666 43,934 934 250,948 56,832 16,055 22,868 26,386 847,472 307,780 55,438 70,001 41,625 53,691 330,562 43,752 65,249 35,866 30,231 15,580 22,497 56,528 85,160 1,744 7,462 682 618 1,189 6o4 88,793 811 1,743 5,873 2,031 83 3,06l 2,344 20,856 4,199 230,481 8,427 3,824 5,488 990 - - 1,409,505 121,764 571 656,931 6o,oi4 9,439 37 68,327 3,824 60 4,999,472 375,921 — 27,O4O 6,985 34,643 - 404,473 1 1 3 , 6 9 4 134,875 218 47 51 182,400 55,632 61,704 16,563 6,865 1,756 . 185 1,798 1,375 1,569,045 351,721 480,904 43,207 18,057 5,374 44,634 40,308 10,653 51,528 12,339 7,230 62,105 116,828 428,239 63,013 66,638 92,172 13,588 15,731 18,194 13,958 2,997 6,858 75,693 132,559 446,433 76,971 69,635 99,030 8,051 4,819 8 , 4 0 3 3 , 9 7 2 1,540 l , 9 4 o 27,070 69,585 9,029 22,238 12,679 31,444 22,390 27,806 22,868 Minn. Kans.Cy. D a l l a s San F r a n . 39,586 4 2 , 5 1 2 1 8 , 5 5 3 1 7 8 , 7 2 5 3,621 2,122 1,527 1,521 15,239 — 14,087 39,6O4 — 7,765 20,080 180,246 22,900 40,013 14,377 29,733 57,357 249,992 8,374 10,451 65,731 260,443 2,765 3,084 43,717 20#79 6,839 4,201 14,592 4,431 4,631 ll,o4o 22,357 9,062 64,196 20,743 13,460 14,877 23,439 12,284 7,194 10,649 3,873 4,572 3.938 2.939 10,732 2,438 5,598 7,892 3,412 5,412 155 11,585 6,537 37,339 21,716 11,449 — 990 - 61,029 81,676 177,304 69,316 68 21 939 30,009 3,891 644 725,196 184,824 25 48,756 3,378 397 21 22,458 2,332 1,412 83,329 8,720 197,329 245,777 44,222 13 12,283 2,202 939 18,768 16,716 1 8 , 2 7 7 - 54,585 18 33,582 4,308 547 - 40,655 17 22,400 i,s4i - 105,912 35 , 36,051 3,834 452 691 130,834 194,010 133,861 410,050 itiSGUxiC.il.S A2TD LIABILITIES OS1 THE ZSIERAL RkiSEiriVE BAitfKS OS mil 23, 1928. S t . 5792c ( I n t h o u s a n d s of d o l l a r s ) T o t a l B o s t o n New York E h i l a . Cleve. 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 Fran< JT.B.notes i n a c t u a l c i r c u l a t i o n 1 . 5 7 9 , 3 8 3 125,484 336,811 125,939 193,095 57,383 139,256 247,311 53,570 56,110 56,395 31,531 156,448 Deposits: Member Dank - r e s e r v e account 2 , 3 5 9 , 6 4 5 155,147 947,128 135,856 1 8 3 , 9 5 2 69,259 67,90s 344,129 82,212 5 0 , 8 1 5 88,975 64,736 179,531 Government 21,505 S05 4,128 593 2,396 1,257 1,403 3,167 1,206 1 , 7 3 8 2,572 1,006 1,234 .Foreign "bank 5,923 46l 1,512 584 639 313 258 854 264 166 221 215 436 Other d e p o s i t s 19,453 '3 107 9Mo 229 981 56 111 1,166 276 220 752 58 5,663 Total deposits 2 , 4 1 6 , 5 3 5 156,52c 962,608 137,262 187,968 70,885 69,680 349,316 23,958 52,939 92,520 66,015 1 8 6 , 8 6 4 Deferred a v a i l a b i l i t y items 612,621 &4,998 1D7,825 5l,6o4 59,555 49,396 20,757 74,608 30,553 10,680 38,578 Capilai. p a i d i n 133,626 9 , 8 7 8 44,086 i 4 , i o 6 14,285 6,254 5,228 18,147 5,323 3,030 3 4l ,, 2i o1 74 22,963 1 4 , 3 2 7 1 0,745 SllL' v" . i s 233,319 1 7 , 8 9 3 63,007 21,662 24,021 1 2 , 3 2 4 Q.Q96 32,778 10,397 7,039 9,046 8 , 5 2 7 16,629 All other l i a b i l i t i e s 17,988 1,148 4,708 1,098 1,980 1 , 0 8 7 860 3,036 1 , 0 2 3 1,036 728 498 786 TOTAL LI .ABILITIES 4 , 9 9 9 , ^ 7 2 375,921 1 , 5 6 9 , 0 4 5 351,721 480,904 197,329 245,777 725,196 184,824 1 3 0 , 8 3 4 194,"010 133,861 410,050 Reserve r a t i o (per c e n t ) 70.0 >2.7 72.5 37.7 71.4 59.0 63.4 74.S 56.0 63.9 55.5 57.4 C o n t i n g e n t l i a b i l i t y on h i l l s m r 75.9 chapod f o r f o r e i g n c o r r e s p o n d e n t s 266,955 19,851 76,918 25,144 27,526 13,499 11,116 36,790 11,381 7,146 9,528 9,254 18,792 F„B. 1? . r e s . on hand ( n o t e s r e c ' d f r o m F.Iu Agent l e s s n o t e s i n c i r c u l a t i o n ) 3 7 3 , 2 8 1 24,457 117,616 28,016 28,395 17,148 29,300 45,123 10,537 6,603 8 , 5 3 4 6 , 4 9 1 49,961 FED~RAL'RSSFR7F HOTE ACCOUNTS OF FEDERAL B3SBEVE ASSETS F . 3 , n o t e s r e c ' d f r o m C o m p t r o l l e r 2 , 7 9 5 , 5 4 0 233,791 739,147 176,105 257,520 99,705 232,616 423,764 84,367 82,132 99,349 60,355 310,689 F.R. n o t e s h o l d by F.R. Agent 845,876 83,850 284,720 22,100 35,030 25,174 64,o5o 130,330 20,i5o 19,419 3 4 , 4 2 0 22,333 104,280 S B n o t e s i s s u e d t o F.R.Bank 1,952,554 149,941 454,427 154,005 221,490 74,531 168,556 293,434 54,207 62,713 54,929 38,022 206,409 f!v i •-•r-nl h e l d a s s e c u r i t y f o r 31 n o t e s iserved t o F.R.Bank: ii Gold and g o l d c e r t i f i c a t e s 354,505 / 35,300 1 153,160 50,000 21,375 20,000 8,300 14,167 12,303 4 o , o o o Sold r e d e m p t i o n f u n d 9 5 , 2 9 3 / 11,804 / 17,915 8,028 12,727 7,597 4,887 2,505 2,702 2,419 2,652 3,250 18,807 Gold f u n d - F . R . B o a r d 530,455/ 28,000/ 5,000 77,977 90,000 68,200 213,000 12,500 23,000 39,85o 3,ooo 119,918 E l i g i b l e paper 1 ,i44,4$g U3,33T 353,935 s; 82,615 99,547 53,205 75,035 139,817 47,189 31,719 35,521 23,900 87,536 Total c o l l a t e r a l 2 , 2 7 4 , S ^ . 188,44^ 530,011 168,620 252,274 82,173 169,122 355,322 70,691 71,305 78,133 42,453 266,261 MATURITY.DISTRIBUTION OF BILLS A;;TD CERTIFICATES OF DT1KBTEDBSSS I I IB I LI I I Total B i l l s discounted B i l l s b o u g h t 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. / Within 15 days 847,472 330,562 715,333 115,582 o2,793 3,337 l 6 t o 30 days 36,036 54,039 1,186 31 t o 60 days 50,957 103,120 Sl 50 27,4^1-9 40,282 Over 6 months 16,854 7,439 843 84,270
@FedFRASER