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STATEMENT FOE THE PRESS Released f o r p u b l i c a t i o n Friday morning, May 29; not e a r l i e r . S t . 4538 Federal Reserve Board, May 28, 19 £5. CONDITION OF FEDERAL RESERVE BANKS The consolidated statement of c o n d i t i o n of t h e Federal r e s e r v e banks on May 27, made p u b l i c by t h e Federal Reserve Board, shows increases of $75,600,000 in holdings of discounted, b i l l s and of $2,400,000 in acceptances purchased in open market and a decrease of $9,200,000 in Government s e c u r i t i e s , w i t h t h e r e s u l t t h a t t o t a l earning a s s e t s went up $68,800,000 t o $1,054,400,000. Federal r e s e r v e note c i r c u l a t i o n increased $14,200,000 and cash r e s e r v e s $1,200,000, while non-reserve cash declined $4,200,000. Discounted b i l l s held by t h e Federal Reserve Bank of New York increased $50,700,000 during the week, as compared w i t h an aggregate d e c l i n e of $70,000,000 reported during the preceding two weeks. The Cleveland bank shows an increase of $11,100,000 i n holdings of discounted b i l l s , P h i l a d e l p h i a of $6,900,000, and Boston of $4,000,000, While the A t l a n t a bank r e p o r t s a d e c l i n e of $4,400,000 i n discount h o l d i n g s . Holdings of purchased b i l l s by the Federal Reserve Bank of Boston were $9,400,000 l a r g e r than a week ago, and by the San Francisco bank - $4,200,000 l a r g e r , while the holdings of t h e New York and P h i l a d e l p h i a r e s e r v e banks were smaller by $8,400,000 and $3,100,000, r e s p e c t i v e l y . The Systems' holdings of Treasury notes went d-own $9,200,000 and of U. S. bonds $500,000, while holdings of Treasury c e r t i f i c a t e s of indebtedness went up $500,000. 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 comp r i s e a reduction of $1,800,000 reported by the A t l a n t a bank, and the following i n c r e a s e s : Cleveland $8,800,000, P h i l a d e l p h i a $6,900,000, Boston $1,700,000, and. San Francisco $1,400,000. A summary of changes in 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 y e a r ending M&y 27, 1925, f e l l o w s : Increase or decrease during Week Total r e s e r v e s . Gold r e s e r v e s + $ 1,200,000 + 3,400,000 Total earning a s s e t 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 discounted + 68,800,000 + 75,600,000 + 55,200,000 + 20,400,000 Year $232,400,000 279,800,000 + + 204,200,000 15,600,000 51,400,000 67,000,000 + 2,400,000 + 191,700,000 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 indebtedness . . . . + + + 9,200,000 500,000 9,200,000 500,000 15,900,000 67,600,000 3,800,000 47,900,000 Federal Reserve notes i n c i r c u l a t i o n . . + 14,200,000 Total d e p o s i t s . . . . . . . Members' reserve d e p o s i t s Government d e p o s i t s . . . Other d e p o s i t s . . . . . . + + + 25,500,000 20,000,000 5,900,000 400,000 B i l l s bought in open market . . . . . . . . . . . . . . • « • . . . . . . . . . . . . - + + + 220,500,000 204,400,000 202,100,000 1,800,000 4,100,000 •° el eased f o r p u b l i c a t i o n Friday morning, May 29, 1925# not e a r l i e r . S t . . 4533a RESOURCES AND LIABILITIES OF T'HE T m V S ZHDER'AJj PESEDVE BANKS COMBINED (in thousands of d o l l a r s ) May 27, 1925 May 20, 1925 May 28, 1924 1,521,237 62,460 1,531,216 50,679 ' 2,103,863 46,465 Gold held e x c l u s i v e l y against F.R,notes 1,583,697 1,581,895 2,150,328 594,007 373,478 2,838,011 654,157 598,569 2,834,621 3,117,813 143,814 145,974 96,461 2,981,825 2,980,595 3,214,274 , 52,450 56,665 46,238 216,007 197,992 160,894 177,548 164,566 265,034 Total b i l l s discounted . . . . 413,999 338,402 429,600 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 . . . . 278,413 276,026 86,760 85,012 241,904 22,298 85,529 251,108 21,745 17,409 245,722 70,151 349,214 333,282 RESOURCES Cold with Federal r e s e r v e agents . . . Gold redemption fund with U.S.Treasury Gold s e t t l e m e n t fund w i t h F. R. Board Gold and gold c e r t i f i c a t e s held by banks Reserves other than gold Non-reserve 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 discounted Total U. S. Government s e c u r i t i e s 651,885 602,429 . . . . . . 10,500 2,250 358,382 10,500 2,250 Total earning a s s e t s . . . . 1,054,376 955,560 584,282 59,867 23,792 674,761 59,701 23,199 850,193 28 531,954 57,139 25,207 4,756,592 4,780,451 4,725,033 1,670,635 1,656,474 1,891,147 317 2,138,174 38,624 25,076 2,118,163 32,732 25,527 1,936,074 40,384 20,982 2,201,874 2,176,422 1,997,440 537,025 115,525 217,837 13,696 601,151 115,44s 217,837 13,149 458,715 111,493 220,915 15,006 4,756,592 4,780,481 4,725,033 Foreign loans on gold All other earning a s s e t s 5$ Redemption fund - F. R. Bank notes All other resources TOTAL RESOURCES 551 L I A B I L I T I E S F. R. notes in a c t u a l c i r c u l a t i o n . . F. R. Bank notes i n c i r c u l a t i o n - net Deposits: , Member bank - r e s e r v e account . . . Referred a v a i l a b i l i t y items TOTAL LIABILITIES Ratio of t o t a l r e s e r v e s t o d e p o s i t and y j$. R. note l i a b i l i t i e s 'combined . . 11.0$ 77.8# 82.7# Contingent l i a b i l i t y on b i l l s purchased f o r f o r e i g n correspondents . . . . 35., 7 80 39,007 39,857 C. Pel eased f o r p u b l i c a t i o n Friday morning, May 29, 1925; not e a r l i e r . * st< 4^jgb RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, MAY 27, 1925. "RESOURCES ( i n thousands of d o l l a r s ) Federal Reserve Bank of Boston New York P h i l a . Cleve. Rich. 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 Fran. Total Gold with Federal Reserve Agents 191,895 356,278 134,088 170,405 37,315 123,185 135,444 25,061 54,375 52,405 34,974 205,812 1,521,237 Gold redemption fund with U.S.Treag. 11,602 9,874 14,280 2,684 5,440 1,898 6,696 1,510 1,124 3,473 2,122 1,757 62,460 Gold held e x c l u s i v e l y a g a i n s t f . r. notes 203,497 Gold s e t t l e m e n t fund with F. R. Board 35,733 Gold and gold c e r t i f . held by banks 22,401 366,152 148,368 173,089. 42,755 125,083 142,140 258,468 47,899 87,108 13,584 14,081 99,096 331,170 20,650 36,674 21,814 4,437 107,830 26,571 12,700 10,091 55,^99 20,103 7,159 55,878 25,852 3,443 37,096 207,569 1,583,697 7,543 29,718 651,885 7,890 28,870 602,429 Total gold r e s e r v e s Reserves o t h e r than gold 261,631 14,450 955,790 216,917 296,871 31,570 7,280 8,534 78,153 143,601 349,066 4,397 16,323 17,718 49,362 20,295 82,761 1,523 85,173 4,812 52,529 266,157 2,838,011 10,624 6,288 143,814 276,081 987,360 224,197 305,405 82,550 159,924 366,784 69,657 84,284 89,985 63,153 272,445 2,981,825 Total r e s e r v e s Non-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 discounted 5,884 15,844 1,590 2,353 3,538 4,605 6,163 3,788 1,098 2,075 2,455 3,057 52,450 14,863 18,839 76,443 34,003 28,107 13,526 33,382 14,186 12,888 33,466 1,758 16,574 25,991 19,112 8,327 12,288 588 5,104 1,406 6,100 31O 4,750 11,944 20,044 216,007 197,992 Total b i l l s discounted 33,702 110,446 4i,633 47,568 46,354 18,332 45,103 20,615 5,692 7,506 5,060 31,988 413,999 B i l l s bought in open market U. S. Government s e c u r i t i e s : Bends Treasury n o t e s C e r t i f i c a t e s of indebtedness 37,422 66,675 21,610 24,872 10,794 10,172 39,095 12,136 10,674 15,452 8,719 20,792 278,4l3 „ 584 673 3,079 8,542 51,957 1,276 637 17,236 60 9,520 1 2,724 5,409 1,779 4,344 103 3,183 12,425 1,203 20,325 20,735 1,945 4,766 29,607 726 8,736 8,403 206 12,259 22,790 2,381 9,834 22,124 544 4,847 38,886 5,366 85,012 241,904 22,298 Total U.S.Govt, s e c u r i t i e s Foreign l o a n s on gold All other earning a s s e t s 4,356 777 - 6l,775 2,835 - 17,933 976 2,250 27,653 1,124 - 6,226 557 - 16,811 430 - 43,005 1,449 35,099 483 - 17,345 346 37,430 420 32,502 368 - 49,099 735 - 349,214 10,500 2,250 76,237 241,731 84,402 101,217 63,931 45,745 128,652 68,333 34,057 60,808 46,649 1 0 2 , 6 l 4 1,054,376 53.238 4,190 55 134,493 16,872 7,424 58,101 1,122 421 49,471 2,446 717 29,076 2,780 2,798 28,401 4,351 330 12,749 3,049 3,333 34,109 4,275 594 20,987 1,833 1,585 Total earning a s s e t s Uncollected items Bank premises All o t h e r r e s o u r c e s C. TOTAL RESOURCES 54,743 7,573 298 75,941 8,099 l,4i0 32,973 3,277 4,777 584,282 59,867 23,792 415,685 1,403,724 369,833 471,589 202,653 244,928 587,049 174,860 138,620 191,846 136,662 419,143 4 , 7 5 6 , 5 9 2 Eeleased f o r p u b l i c a t i o n Friday morning, May 29, 1925; not e a r l i e r . St. 4538c RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, MAY 27, 1925. L I A B I L I T I E S ( i n thousands of d o l l a r s ) Federal Reserve Bank of Boston New York P h i l a . Cleve. Rich. A t l a n t a Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total F. E. notes i n actual c i r c u l a t i o n 203,609 332,023 156,923 204,923 70,693 136,452 158,521 46,459 61,607 62,262 40,843 196,320 1,6*70,635 Deposits: Member bank reserve account 131,790 842,707 125,978 174,651 63,290 68,325 304,166 79,371 52,313 82,761 56,848 155,974 2,138,174 Government 1,997 1,844 2,791 3,486 38,624 Other deposits 286 il:% % M l 44l 164 4,597 25,076 Total deposits 134,073 863,353 128,376 178,805 66,209 72,794 311,696 83,932 53,730 85,046 59,803 164,057 2,201,874 Deferred a v a i l a b i l i t y items 52,459 114,469 5 2,694 51,168 47,225 21,397 69,032 28,844 11,532 30,689 23,425 34,091 537,025 Capital paid i n 8,478 31,555 11,216 12,968 5,993 4 , 6 l 4 15,548 5,104 3,244 4,338 4,286 8,181 115,525 Surplus 16,382 58,749 20,059 22,462 11,701 8,950 30,426 9,971 7,497 8,977 7,592 15,071 217,837 All other l i a b i l i t i e s 684 3,575 565 1,263 832 721 1,826 550 1,010 TOTAL LIABILITIES Ratio of t o t a l reserves to d e p o s i t and F. R. note l i a b i l i t i e s combined, p e r cent Contingent l i a b i l i t y on b i l l s * purchased f o r f o r e i g n correspondents 534 713 1,423 13.696 415,685 1,403,724 369,833 471,589 202,653 244,928 587,049 174,860 138,620 191,846 136,662 419,143 4,756,592 81.8 82.6 2,775 78.6 8,4i0 79*6 3,487 4,011 60.3 76.4 1,987 78.0 1,537 5,174 53.4 73.1 1,725 61.1 1,237 1,500 62.7 75.6 1,312 2,625 77.0 35,780 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION J \ B. notes outstanding F. E« notes held by banks R. notes in a c t u a l c i r c u l a t i o n % - 203,609 '5:9: % % % % % 332,023 156,923 204,923 70,693 136,452 158,521 46,459 61,607 62,262 40,843 196,320 1,670,635 DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES Within 15 days B i l l s discounted B i l l s bought in open market C e r t i f i c a t e s of indebtedness S 50 16 t o 30 days 31 to 60 days 6l to 90 days from 91 days t o 6 months trf= - - - 16,231 0ve£ g m0nths 2,544 6,017 Total 413,999 278,413 22,298 -eueaae.' tor puoi i c a t i o n Friday morning, May 29, 1925; not e a r l i e r . st< 4533^ Minn. Kans.Cy. Dallas San Fran. Total FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, MAY 27, 1925. (in thousands of d o l l a r s ) Federal Reserve Agent at RESOURCES Boston Federal Reserve notes on hand 64,350 General Reserve notes outstanding241,682 C o l l a t e r a l s e c u r i t y f o r Federal Reserve notes outstanding: Gold and gold c e r t i f i c a t e s 31,050 Gold redemption fund Id fund - F. R. Board 149,000 E l i g i b l e paper — Amount required 49,787 Excess amount held 21,337 T0TAL New York Phi l a . Clave. Rich. Atlanta Chicago St.Louis 314,3k0 35,400 40,200 454,526 187,916 219,01? 22,575 63,254 268,80? 86,039 150,211 167,396 25,360 23,391 27,523 23,172 71,600 985,572 52,171 64,945 71,199 46,215 231,776 1,973 093 »viv, j j 186,698 6,000 8,780 28,580 13,699 11,625 l4l,000 114,389 150,000 2,000 9,000 3,020 5,185 4,799 32,295 109,000 130,645 13,975 2,086 9,000 13,052 1,323 40,000 3,045 49,360 18 Oil 288 566 2,963 16,984 105:154 14,000 188,828 1,127,517 27,110 4,6iO 10,570 5,655 18,794 3,989 ll,24l 2,514 9.8,248 67,392 53,828 975 48,612 48,724 22,983 8,245 27,026 871 31,952 5l,9b2 25,964 25,961 451,856 216,494 569,051 1,291,384 412,207 501,217 202,898 369,54? 655,561 134,312 158,936 173,910 118,116 561,113 5,148,252 L I A B I L I T I E S Net amount of Federal Reserve notes received from Comptroller of t h e Currency 306,032 769,466 223,316 259,21? I0g,6l4 218,465 436,203 77,531 88,336 98,722 69,387 303,376 2,958,665 TeM %% £ ? £ C o l l a t e r a l received from Federal reserve bank: pape, TOTAL a % 17 n °;% U-M1?;«fT 569,051 1,291,384 412,20? 501,217 202,898 369,54? 655,561 134,312 158,936 173,910 118,116 561,113 5,148,252
@FedFRASER