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X Released, f o r p u b l i c a t i o n F r i d a y morning, Nov. 12; not e a r l i e r . STATEI.'EliT FOR THE PRESS St.5154 F e d e r a l Reserve Board November 11, 1926. CONDITION OF FEDERAL 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 hanks on November 10, made p u b l i c by the F e d e r a l Reserve Board, shows a d e c l i n e f o r the week of $88,700,000 i n b i l l and s e c u r i t y h o l d i n g s , a s compared w i t h an i n c r e a s e of $70,700,000 r e p o r t e d the week b e f o r e , t o g e t h e r with i n c r e a s e s of $35»200,000 i n c a s h r e s e r v e s a n d $6,800,000 i n n o n - r e s e r v e c a s h and a r e d u c t i o n of $4,600,000 i n F e d e r a l r e s e r v e note c i r c u l a t i o n . Holdings of d i s counted b i l l s d e c l i n e d $94,500,000 and of Government s e c u r i t i e s $2,000,000, while 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 $7,800,000. The New York r e s e r v e bank r e p o r t s a d e c l i n e of $56,400,000 i n d i s count h o l d i n g s , Chicago a d e c l i n e of $27,600,000, San F r a n c i s c o $ 7 , 6 0 0 , 0 0 0 , S t . Louis $7,400,000, A t l a n t a $4,500,000, and D a l l a s $3,700,000. Discount h o l d i n g s of the Cleveland bank i n c r e a s e d $12,800,000 d u r i n g the week. A r e d u c t i o n of $7,200,000 i n t h e New York r e s e r v e b a n k ' s h o l d i n g s of a c c e p t a n c e s purchased i n open market was more t h a n o f f s e t by i n c r e a s e s a t t h e o t h e r r e serve banks a g g r e g a t i n g $15,100,000. The %-stem's 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 were $22,100,000 above t h e p r e c e d i n g w e e k ' s t o t a l , while h o l d i n g s of Treasury n o t e s d e c l i n e d $23,400,000 and of United S t a t e s bonds $700,000. 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 note c i r c u l a t i o n d u r i n g the week include a d e c r e a s e of $6,500,000 a t the New York bank and i n c r e a s e s of $4,600,000 and $ 3 , 3 0 0 , 0 0 0 , r e s p e c t i v e l y , a t P h i l a d e l p h i a and C l e v e l a n d . 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 the 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 November 10, 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 + $35,200,000 + 34,500,000 Year + $79,400,000 + 62,600,000 - 88,700,000 94,500,000 59.600,000 34,900,000 + + + 35»700,000 16,700,000 11,100,000 5,600,000 + 7.800,000 - 12,800,000 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 . . . + 2,000,000 700,000 23,400,000 22,100,000 Federal reserve notes in c i r c u l a t i o n . . - 4,600,000 + 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 + - 11,600,000 11,300,000 15,100,000 - 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 W. . . . . . . - 33.600,000 - 11,100,000 - 130,100,000 + 107,600,000 39,500,000 23,900,000 13,500,000 - 4,400,000 Released f o r p u b l i c a t i o n Friday mo rain 3, November 12, 192b; not e a r l i e r , S t . 5154a nESClL,CES AND LIABILITIES 0 7 Tj'e TWELVE >Eri'ii'AL RE ;_SnYE 3A.MVS COMBINED ( I n tnous.ma3 oi d o l l a r s ) Nov. 10,192o Aiov. 5, 192o Nov. 10.1925 RESOURCES Gold witn Federal re serve a g e n t s Gold redemption fund w i t h U. S, 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 fund w i t h 5. tx. Board . . C-old and gold c e r t i f i c a t e s h e l d by banks . ne serves o t h e r t h a n .'".old Total r e s e r v e s 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 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 : 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. Government 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 . . . . Due f r o m f o r e i g n banks TOTAL RESOURCES 1,327 , 6 66 62,770 1,450,436 744,647 646,672 2,541,755 1,337,772 ol,931 1,399,703 7-9,574 017,997 2,807,<74 1,356,010 50,732 1,406,748 737,a 3c o34,530 c,779,116 12c,129 1*7,411 2,969,SS4 53,7^0 <,934,685 46,957 2,890,502 47,167 287,369 294,044 347,003 328,895 276,229 222,431 561,413 339,901 675,29s 332,098 564,660 352,687 46,462 113,003 140,652 47,211 136,416 lis,719 57,632 243,122 33,254 300,367 2,500 302,346 334,008 2,500 3,720 4,799 1,224,lei 1,312,842 b50 704,567 60,051 14,101 650 695,976 60,051 13,961 1,259,274 640 702,177 61,632 18,089 5,027,234 5,065,122 4,960,081 1,750,758 1,755,430 1,7H,275 2,216,651 17,267 9,93S 18,413 *,207,325 32,932 12,180 23,976 2,232,173 *2,294 11,955 22,286 2,264,569 2,270,419 643,311 124,685 220,310 23,071 665,233 124,379 220,310 23,351 2,288 , 743 028,462 116,659 217,337 17,105 5,027,254 5,065,122 4,980,081 111,36b L I A B I L I T I E S F. R. notes i n a c t u a l c i r c u l a t i o n . . . . Deposits: Total deposits 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 purchased C. 74.0% iz.zi 72.3$ 46,093 40,344 37,063 RESOURCES AMP LIABILITIES 0* THE EEFERAL ;i£ SERVE BATIKS'""OH" NOVEMBER' 10, 1926. iiESOOiiCES K 154b ( I n t h o u s a n d s of d o l l a r s ) . . ® ° s t ° n %8w York P h i l a'.- CI e v e . 3 Gold w i t h F a c e r a l R e s e r v e Agents 1 3 7 , 5 4 5 343,410 9 7 , 0 1 1 1 4 9 , 9 1 8 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 J . 0 , 0 7 2 10,017 12,782 5,582 Gold h e l d e x c l u s i v e l y a g a i n s t M notes St. ^ 147,617 R i c h . A t l a n t a Chicago S t . Louis Minn. Kans.Cy. P a l l a s San F r a n . T o t a l b 0 , 3 1 0 1 1 7 , g 3 2 148,570 17,651 51,920 5 2 , 9 5 3 2 8 , 0 3 0 1 8 ? , 5 1 6 1 , 3 8 7 , 6 6 6 1,596 4,129 7,954 1,018 1,995 2,730 2,060 2^35 62,770 ' ' ' 353,427 1 0 9 , 7 9 3 1 5 5 , 5 0 0 61,906121,961156,524 18,669 53,915 55,683 30,090 185,351 1 , 4 5 0 , 4 3 6 230,413 1 , 0 1 8 , 2 4 8 191,518 253,742 .1^977 25,005 6,503 9,840 9 9 , 9 0 5 1 4 9 , 5 3 3 349,880 5,631 11,376 22,124 $,058 1 2,893 82,467 2,878 95,820 4,485 60,942 250,229 2 , 8 4 1 , 7 5 5 7,928 6,487 1 28,lg9 ——— r e s e r - ~ 243,390 1 , 0 4 3 , 2 5 3 1 9 8 , 0 2 1 263,582 105,536 1 6 0 , 9 1 1 372,004 iNon-reserve c .sh 6,393 17,585 1,085 2,392 2,352 3,906 9,067 H i l l s discounted: Qecuared by U . S . G o v t , o b l i g a t i o n s 1 5 , 3 6 6 6 7 , 1 5 2 21,897 5 2 , 4 1 6 1 1 , 1 9 7 Ot e r b i l l s d i s c o u n t e d 4 2 , 5 8 6 18,246 29 , 634 23,745 3,309 Total b i l l s d i s c o u n t e d 24,175 116,038 4 0 , 1 4 3 5 2 , 0 5 0 34,945 : B i l l s bought i n open m-irket 64,041 27,073 31,580 1 5 , 2 3 7 33,629 U. S. uC'Vernri.ent s e c u r i t i e s : Bonds 1 , 3 2, 2, i z . 585 1,121 1 ., 1 9. 1 , 541, 255 20,708 n T 2,010 notes ^ 3,276 1 7 /; 7 6 6 16,029 1 9 , 9 8 5 2,%0 1,49s 9,409 5,813 u e r t i i i c a t e s of i n d e b t e d n e s s % al3 34,996 3,314 1 4 , 4 3 06 3»£59 _ •13° 17,570 3,859 71,951 3,255 85,345 100,105 828 2,066 o8,S70 256,716 2 . 9 6 9 , 8 5 4 1,851 2 , 9 6 0 ' 5 3 , 7x 4 0 Gold and s o l d c e r t i f . held-by" Iglal_gold reserves r e s e r v e s o t n e r tn.m gold . 9,630 54,084 Other s e c u r i t i e s T o t a l b i l l s and s e c u r i t i e s Pr.e from f o r e i g n bank s Uncollected items Bank p r e m i s e s otier resources TOTAL RESOURCES C. 19,928 35,542 287,369 294,044 581,413 339,901 1,500 8,65)49,156 7,060 2,000 7,559 3,003 5,920 8,539 6,483 13,327 2,776 6,217 12,250 35 18,673 20,111 46,482 113,003 140,882 ,48 2 28 , 349 21,243 35,569 300,367 - - 500 67,434 234,163 89,149 1 4 9 , 1 7 2 57,242 64,967 44 ,, 00 66 8s . 129 650 157,592 16,740 33,101 ,101 59,778 1,600 344 63,29b 7,409 1,045 63,582 2,364 324 2,500 ; 65O 2,955 S3O 7,933 l,7bb 4,111 59s 2,^40 2,248 4^6bg 492 1^793 413 3^467 2,871 60*051 14,l6l 35b,381 1 , 4 7 3 , 0 8 4 349,977 4 8 6 , 8 9 b 231,400 284,657 673,136 183,482 148,823 218,195 156,509 434,691 5 , 0 2 7 , 2 3 4 1 S t . 5154c LIABILITIES OF THE FEDERAL t&iMVE BAFKS ON KOVEviBER 10, l$do ( i n thousands of d o l l a r s ) Boston New York P i i i l a . Gleve. Rich. A t l a n t a Chicago S t . L o u i s i i n n . Kans.Cy. D a l l a s San Fran. Total 148,742 375,072 125,411 205,625 61,979 171,382 215,519 46,094 66,584 65,365 50,935 189,050 1,750,788 RESOURCES A~i L I A B I L I T I E S F.R.notes in actual c i r c u l a t i o n Deposits: biiataoer bank - r e s e r v e -account Government F o r e i g n bank Ct ier 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 ot ier l i a b i l i t i e s 148,344 254 738 §7 839,261 133,846 177,070 1,319 134 149,423 61,332 8,800 17,020 1,064 856,021 135,227 183,606 1 38,17 3 55,178 56,100 36,646 12,558 13,554 59,964 20,464 22,594 4,205 1,139 2,117 70,927 59,063 6,095 11,919 1,414 4,00 5 3,110 9,645 364 922 95 4,178 1,039 69,611 6 68 514 67,905 329,173 1,639 368 100 287 1,330 82,689 54,030 90,503 250 237 89 9 63 197 910 70,032 331,700 27,8 55 75,239 5,035 16,695 6 , 7 0 0 30,613 1,653 3,370 54,099 36,975 5,308 9,570 1,436 1,109 311 55,087 14,618 3,082 7,501 1,351 2,165 379 93,436 42,037 4,152 5,979 1,199 59,223 166,696 2,215,651 1,078 340 41 1,157 670 5,506 1 7,867 9,938 18,413 60,652 174,029 2,264,569 31,566 44,875 643,311 4,304 5,623 124,855 7,615 15,071 220,310 1,107 3,013 23,071 356,351 1,473,054 349,977 466,590 231,400 254,657 673,136 163,482 14s,523 a s , 1 9 6 156,509 434,691 5,027,234 TOTAL LIABILITIES Reserve r a t i o (per c e n t ) SI.6 84.5 76.0 67.2 69.0 66.7 68.0 55.3 69.8 62.0 61.7 70.7 74.0 Contingent l i a b i l i t y on b i l l s p u r chased fcr- f o r e i g n c o r r e s p o n d e n t s 3,512 12,547 4,390 4,944 2,449 1,548 6,330 1,987 1,479 1,802 1,617 3,185 46,093 F . R . n o t e s on hand ( n o t e s r e c ' d from 5,386 41,300 F.R.Asrent l e s s notes i n c i r c u l a t i o n ) 39,790 103,551 27,000 19,945 11,605 27,792 39,234 4,577 5,214 7,730 333,124 F.R. notes r e c d from Comptroller F.R. n o t e s held by 7. R. Agent 249,03 2 60,500 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 7 66,943 191,011 272,610 123,713 263,649 4 50,870 71,331 55,886 112,410 71,698 250,980 2,940,133 285,320 36,600 44,040 30,129 64,475 1 96,117 20,660 14,055 >6,315 15,377 5°, 600 556,221 F.R. notes issued to F.R. Bank C o l l a t e r a l hsld as security f o r JF'.R. n o t e s issued to F.R. Bank: Gold and grold c e r t i f i c a t e s C-old redemption .fund Crold fund - r . R. Board E l i g i b l e paper ^otal collateral 186,532 4a1,023 152,411 226,570 93,5&4 199,174 254,753 166,096 23,712 151,000 156,262 26,605 5,005 26,500 46,126 1 B i l l s discounted B i l l s bought in open in^rket C e r t i f i c a t e s of indebtedness Digitized for C. FRASER 35,300 15,245 54,000 57,^04 195,349 6,760 11,234 11,136 35,777 130,000 o0,9bl 111,16b 50,671 71,798 76,095 56,321 230,380.2,063,912 15,223 7,745 13,507 5,609 2,926 1, bOb 913 97,000 145,b44 6,300 37,500 63,111 146,456 4b,325 23,306 4,093 45,860 33,943 19,156 10,000 2,674 13,662 6,000 155,654 30,893 64,459 307,214 101,017 979,435 664,536 499,692 157,972 2bl,064 106,436 200,943 297,028 63,976 75,226 36^896 55,923 2bb,975 2,272,502 MATURITY DISTRIBUTION.OF BILLS AMD CERTIFICATES OF INDEBTEDNESS Within 15 days 445,279 1:0,826 l 6 t o 30 days 45,403 70,252 107 31 to 60 days 6l to 90 days 55,466 90,048 45,921 26,544 69,254 o months 5,361 9,521 820 Over 6 months 360 91,034 Total 581,413 339,901 140,582
@FedFRASER