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STATEMENT PGR TEE FREES Released 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 . 4g64 F e d e r a l Reserve Board, May 27, 1926. CONDITION OF• FFTJSRhL RESERVE BANKS ^^be 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 the F e d e r a l r e s e r v e banks on May do, made p u b l i c by t h e F e d e r a l Re^erve Board, shows c o m p a r a t i v e l y l i t t l e change i n t o t a l 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 , d e c l i n e s of $ 1 5 , 9 0 0 , 0 0 0 i n n o l d i n g s 0i d i s c o u n t e d b i l l s and of $ 3 , 6 0 0 , 0 0 0 i n Government s e c u r i t i e s b e i n g p a r t l y o f f s e t oy a n i n c r e a s e of $ 1 2 , 3 0 0 , 0 0 0 i n 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 m a r k e t . Member bank r e s e r v e d e p o s i t s d e c l i n e d $ 4 1 , 4 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 i n c r e a s e d $ 7 , 6 0 0 , 0 0 0 , and c a s h r e s e r v e s d e c l i n e d $1,500,000. Discount h o l d i n g s of t h e New York bank d e c l i n e d $ 1 0 , 8 0 0 , 0 0 0 , of C l e v e l a n d $9>500,000, and of Chicago $ 4 , 3 0 0 , 0 0 0 . The P h i l a d e l p h i a bank r e p o r t s an i n c r e a s e of $ 5 , 7 0 0 , 0 0 0 and A t l a n t a an i n c r e a s e of $ 3 , 0 0 0 , 0 0 0 i n h o l d i n g s of d i s counted b i l l s , w h i l e t h e r e m a i n i n g banks show s m a l l e r changes f o r t h e week. Open-market a c c e p t a n c e h o l d i n g s of t h e New York bank were $ 9 , 0 0 0 , 0 0 0 lower t h a n a week ago, w h i l e tho Chicago bank shows an i n c r e a s e of $ 6 , 5 0 0 , 0 0 0 , Cleveland of $ 5 , 4 0 0 , 0 0 0 , and Boston of $ 4 , 4 0 0 , 0 0 0 . The S y s t e m ' s h o l d i n g s of United S t a t e s bonds d e c l i n e d $ 5 , 4 0 0 , 0 0 0 , and of T r e a s u r y c e r t i f i c a t e s $600,000, w h i l e h o l d i n g s of T r e a s u r y n o t e s i n c r e a s e d $ 2 , 4 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 the week comprise i n c r e a s e s of $ 9 , 9 0 0 , 0 0 0 and $ 4 , 1 0 0 , 0 0 0 , r e s p e c t i v e l y , r e p o r t e d by t h e New York and C l e v e l a n d r e s e r v e b a n k s . 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 ending May 26, 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 r e s e r v e s . . 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 . . . . . . Bills 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 Year . - $1,500,000 - $6,400,000 . + 1,400,000 - 21,900,000 - 7,100,000 + 64,700,000 - 15,900,000 - 27,100,000 + 5.9,900,000 + 17,500,000 + 11,200,000 + 4a,400,000 + 12,300,000 - 39,600,000 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 i n d e b t e d n e s s . . . . 3,600,000 5,400,000 2,400,000 500,000 + 45,900,000 + 12,100,000 - 74,5^0,000 -H08,300, uOO Federal reserve notes i n c i r c u l a t i o n . . + 7,600,000 + 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 . . C. 2,200,000 - 37,500,000 + 41,300,000 - 41,400,000 + 57,000,000 + - 14,400,000 4,500,000 Released f o r p u b l i c a t i o n F r i d a y morning, May 25, 1926j n o t e a r l l e r . S t . 49o4a RESOURCES AMD LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBIH2D ( I n thousands of d o l l a r s ) 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 with U'fs. Treasury 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 Gold s e t t l e m e n t f u n d w i t a F. R. Board Gold and gold c e r t i f i c a t e s h e l d by bank: Total gold r e s e r v e s Reserves o t h e r t h a n sold Total r e s e r v e s 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 , . . May 26, 192b May 19. 1926 May 27, 1925 1,455,115 5£,701 1,475,479 45,330 1,521,237 62,460 1,507,820 1,523,509 1,553,697 659,899 o4g,347 644,552 646,301 D51,£55 602,429 2,£16,066 2,cl4,bb2 2,535,011 159,375 lb2,251 143,814 2,975,441 2,976,913 57,851 2,981,825 52,450 233,530 240,413 260,670 216,007 197,992 473,943 489,861 226,492 53,234 238,828 229,191 to a . » 413,999 275,413 85,012 47,123la7,3&4 130,578 102,529 164,988 131,108 241,904 395,065 398,625 349,214 3,885 7,401 3,885 7,401 2,250 10,500 1,119,122 1 , 1 2 b , 264 628,953 59,661 17,392 679 767 720,133 59,657 16,997 1,054,376 642 584,282 4,554,482 4,958,582 4,756,592 FY 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 Foreign bank Otner d e p o s i t s 1,672,517 l,6b5,240 1,670,635 2 ,1 9 5 ,2 0 0 24,269 4,798 18,870 2,236,640 19,750 4,950 19,303 2,135,174 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 . . . . . . . 2,243,137 2,2£0,b43 2,201,574 578,476 122,557 537,025 115,525 17,185 b53,b0o 122,464 220,310 lb,319 TOTAL LIABILITIES 4,854,452 4,958,552 4,756,592 Total U. S. Government s e c u r i t i e Other s e c u r i t i e s Foreign 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 from f o r e i g n banks . . . . . . . Uncollected items Bank pr e mis es All o t h e r r e s o u r c e s . TOTAL RESOURCES . . 22,29s 59,867 23,150 L I A B I L I T I E S 220,310 38,024 6,805 15,271 217,837 13,696 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 . . . 76.0 75.4$ 77-0# 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 61,347 61,974 35,780 RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MAY 26, I926. ( I n thousands of d o l l a r s ) RESOURCES T Sold h e l d e x c l u s i v e l y a g a i n s t « . S : %old r e s e r v e s ' " " res=irras Reserves o t h e r than gold T 0 S a l Total r e s e r v e s Non-reserve cash Bills 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 s # 2 ° 3 ' 9 » 2 — ~^ 3,75s l . a M 3 ° "3,t»6S ^ S . o s a 264,123 6,065 0.363 14,592 1,149 2,58b 46,246 158,951 165,626 >—Z2 *•** 16,664 a.161 % 6,928 25,282 184,623 1,507,820 7,454 23,106 659,899 11,354 30,141 648,347 79,924 5,054 4 4 , 0 9 0 242,670 2,816,066 0,220 9,910 159,375 84,978 2,lbS 50,310 252/780 2,975,441 2,468 3,164 53,234 19,430 g o . 637 3,319 86,628 195,900 388,428 63,748 74 9% 3,378 1 ^ 2 3,551 9,169 5,673 6,7b5 14,200 *•** 104,492 65,392 51,705 10,940 47,465 21,009 46,184 8,461 3,562 b,183 7,824 11,762 3,085 11,622 3,200 24,SOI 17.719 2,916 18,052 4,058 17,589 76,096 23,723 22,220 39,533 7.549 2,085 37,223 9,343 792 392 89,196 106,489 64,380 2,125 562 2,028 /2.606 248,008 7O3 36,482 23,550 393 50,158 27,03s ^ Kans.Cy, Dallas Sin Fran. Total *+2,710 23,981 182,682 1,455,119 2,213 1,301 1.941 52 T 7OI 44,923 22,073 55,700 78,46? 1 8 6 , 7 ) 1 368,995 16,035 ^ o t a l U.S. G o v ' t , s e c u r i t i e s Other s e c u r i t i e s F o r s i z n l o a n s on gold 379,770 128,398 173,522 225,132 1,057,998 204,117 290,486 32,235 TOTAL RESOURCES a s s i g j ? i IS 127,785 T o t a l 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 indebtedness T ot a l b i l l s and s e c u r i t i e s - u e f r o m f o r e i g n banks Uncollected items 3,'jik premises Alj. o t h e r r e s o u r c e s 1 ~ S t . 4g64b A - m . . bd? 4,697 14,548 1,688 8, 014 25,216 8,134 Jlo.ofY 6,199 5,885 11,914 21,720 23,451 19,245 10,778 9,702 45,171 8,709 20,663 9,486 12,706 4,360 23,893 21,549 233,530 240,413 473,943 238,828 990 eiTtzj i6fr564 253 J , . 278 11,295 11,091 11.452 6,549 3,793 14,660 10,623 10,677 14,261 8,610 3,924 1,260 57,258 - 28,742 - 19,828 500 37,989 33,548 49,802 395,065 296 1,014 318 237 289 259 511 3,885 7,401 65,512 135,46s 62,410 38,367 ! i " i •! -a « " g ' ? ! « 1 3 130,578 68,301 52,218 116,167 1,119,122 37,036 4,654 628,953 59,661 17,392 22,189 36,486 1,793 3,292 1 c 668 -j(T\ — s y354 y~ y3.209 > c.v^7 ,173 1,491,528 356,023 468,197 211,546 302,835619,966 165,735 132,212 197,805 129,332 415,124 679 4,854,482 L I A B I L I T I E S F. R. n o t e s i n actual, c i r c u l a t i o n Deposits: Member bank - r e s e r v e 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 RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MAY 26, 1926 S t . 4964c (In thousands of d o l l a r s ) Boston New York P h i l a . Cleve. Rich. Atlanta Chicago S t . L o u i s Minn. Kans.Cy. P a l l a s San Fran. Total 137,633 392,001 1 3 5 , 9 9 0 194,795 71,473 183,720 176,904 38,626 60,484 61,907 3 5 , 0 3 9 1 8 4 , 2 4 5 1 ,672,817 140,75O 2,021 368 121 862,475 131,254 176,995 2,303 1,020 1,295 1,281 460 518 10,063 54 906 67,576 1,452 78,756 46,471 1,072 1,914 56,136 159,375 2 , 1 9 5 , 2 0 0 24,269 1,473 2,377 170 334 4,798 46 5,803 18,870 143,260 56,639 8-, 726 17,020 835 208 307 155 336 85.53S 1,739 189 126 8 7 6 , 1 2 2 132,788 1 7 9 , 7 1 4 58 69,343 7 1 , 6 5 0 318,224 3,689 3,914 194 664 87 963 75,620 323,765 80,343 42,876 27,592 57,825 167,829 2 , 2 4 3 , 1 3 7 124,771 35,292 59,964 3,37s 51,626 6,076 11,919 1,109 28,928 4,936 8,700 931 30,954 5,272 9,570 970 11,104 3,143 7,501 1,110 34,152 4,251 2,979 924 23,824 4,289 7,615 740 53,775 12,152 20,464 254 55,675 13,520 22,894 1,599 257 69,744 16,446 30,613 2,494 37,224 8,394 15,071 2,241 578,476 122,557 220,310 17,125 3 6 4 , 1 7 3 1 , 4 9 1 , 5 2 8 3 5 6 , 0 2 3 4 6 2 , 1 9 7 2 1 1 , 5 4 6 3 0 2 , 2 3 5 6 1 9 , 9 6 b 1 6 5 , 7 3 5 1 3 2 , 2 1 2 1 9 7 , 8 0 5 1 2 9 , 3 3 2 4 1 5 , 1 2 4 4 ,854,482 TOTAL LIABILITIES 76.0 54.2 71.2 56.2 20.1 61.5 75.5 77-6 53.6 62.5 23.4 Reserve r a t i o (per c e n t ) 75-9 77-6 Contingent l i a b i l i t y on b i l l s pur2,186 4,309 16,011 bi,347 2,435 3,310 2,49s 2,555 2,685 l,99S 5,933 6,b8l chased for f o r e i g n correspondents 4 , 7 4 6 F . R , n o t e s on hand ( n o t e s r e c ' d from 314,368 5 , 9 0 4 35,661 5,409 5,438 5,141 F.R. Aqent l e s s n o t e s i n c i r c u l a t i o n ) 1 9 , 7 7 4 1 1 9 , 4 7 6 31,337 1 6 , 3 5 4 1 4 , 2 3 8 29,111 25,905 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F. R. notes r e c ' d from Comptroller 202,857 791,837 209,767 260,079 119,851 260,060 405,34b 65,764 24,089 113,7Sb 55,180 2 7 7 , 3 0 6 2 , 8 4 2 , 9 2 2 I . R.. n o t e s held by F. R. Agent 261,737 4 5 , 4 5 0 220,360 4 2 , 4 4 0 4 2 , 9 3 0 3 3 , 5 4 0 47,229 205,537 21,700 1 8 , 4 o 4 46,470 1 4 , 2 3 7 57,350 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: Gold and mLd c e r t i f i c a t e s Gold redemption fund Gold fund - F. R. Board E l i g i b l e paper Total c o l l a t e r a l 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 i n d e b t e d n e s s 157,407 511,477 1 67,327 211,149 86,311 a 2 , 5 3 1 202,809 25,655 35,300 171,697 17,670 69,000 25,665 11,030 11,006 171,000 107,497 150,000 - 3,373 9,421 3,537 15,500 132,000 155,645 54,455 151,071 52,919 53,279 8,720 64,765 14,237 59,536 77,062 44,064 65,625 2,045 13,212 1,460 1,016 67,316 - 3,350 6,000 32,000 39,360 32,665 17,706 29,912 40,943 219,926 1 , 9 8 7 , 1 8 5 17,226 10,000 304,152 3,255 15,040 105,823 3,500 157,642 1,045,144 18,399 65,479 677,848 519,433 1 7 2 , 4 0 6 234,551 97,447 215,194 236,244 4 8 , 1 7 0 69,934 72,622 4 2 , 3 2 0 242,161 2 , 1 3 2 , 9 6 7 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS 91 days to Total Over 6 months 31 to 60 days 6l to 90 days 16 t o 30 days Within 15 days 6 months 1,931 62,144 473,943 27,912 27,692 323,614 30,644 232,228 1 , 2 4 2 6 0 , 0 6 4 19,490 102,875 49,157 21,290 130,578 50,203 650 57,835 176,425
@FedFRASER