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Released f o r p u b l i c a t i o n Friday morning, Nov. 16 not e a r l i e r STATEMENT FOB THE PRESS g t . 597s Federal Reserve'Board, November 1.5, 1928 CONDITION OF FEDERAL RESERVE MKKS The consolidated statement of condition of the Federal reserve "banks on November l 4 , made public by the Federal Reserve Board, shows decreases f o r the week of $100,000,000 in holdings of discounted "bills, of $10,400,000 in Federal reserve note c i r c u l a t i o n and of $9,300,000 in Government deposits, and i n c r e a s e s of $25,300,000 in holdings of b i l l s bought in open market, of $34,700,000 in member bank reserve deposits and of $19,700,000 in cash r e s e r v e s . Total b i l l s and s e c u r i t i e s were $74,300,000 below the amount h e l d on November 7. The p r i n c i p a l changes in holdings of discounted b i l l s , f o r the week were decreases of $100,100,000 a t the Federal Reserve Bank of New York, $26,900,000 a t Chicago, and $9,700,000 at San Francisco, and i n c r e a s e s of $18,300,000 a t Boston, $9,500,000 a t P h i l a d e l p h i a and $9,100,000 a t Cleveland. The System's holdings of b i l l s bought in open market increased $25,800,000 and of Treasury c e r t i f i c a t e s $5,000,000, while holdings of Treasury notes declined $5,300,000. Federal reserve note c i r c u l a t i o n shows an increase of $4,000,000 a t the Federal Reserve Bank of Cleveland, $3,100,000 a t P h i l a d e l p h i a and $1,600,000 a t Richmond, and decreases of $9,300,000 a t New York, $5,400,000 a t Chicago, and $10,400,000 a t a l l Federal reserve banks. 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 year ending November l 4 , 1928, f o l l o w s : Increase or decrease duringto Week Year Total r e s e r v e s Gold r e s e r v e s + $19,700,000 + l6,400,000 - $238,500,000 - 230,300,000 Total 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 discounted - 7^,300,000 99,900,000 59,200,000 40,600,000 + + + + 151,500,000 490,100,000 298,000,000 192,100,'000 B i l l s bought in open market + 25,800,000 + l40,600,000 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 indebtedness + 300,000 5,300,000 5,000,000 + - 482,500,000 210,400,'000 56,400,000 328,500,000 Federal reserve notes in c i r c u l a t i o n - 10,400,000 + 25,600,000 Total deposits . Members' reserve d e p o s i t s Government d e p o s i t s + + - 21,000,000 34,700,000 9,300,000 + 160,300,000 I35,500,000 12,300,000 W. . . Released f o r p u b l i c a t i o n Friday morning, November l 6 , 1928; not e a r l i e r . St.5978a EESOUECES AHD LIABILITIES OF THE TWELVE FED3HAL 2ESS3VE BMKS COMBINED ( i n thousands of d o l l a r s ) RESOURCES Gold with Federal r e s e r v e agents . . . Gold redemption fund with U.S.Treasury Gold h e l d exclusively against F.R.not Gold settlement fund with F. R. Board Gold and gold c e r t i f i c a t e s held "by bankTotal gold r e s e r v e s Reserves other than gold . 1,172,075 1,134,989 1,252,26s 721,620 1,204,072 763,380 675,315 2,642,767 Total "bills 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 . . Total U.S. Government s e c u r i t i e s Other 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 from f o r e i g n banks . . . . . Uncollected items Bank premises All other resources . . 1,566,186 51,494 524,931 332,608 857,539 474,4oo 584,154 373,236 957,390 44s,545 226,958 l4o,47S 367,436 333,807 54,377 54,359 114,295 54,028 222,682 3,730 1,632,447 728 658,155 60,551 8,480 264,800 685,184 2,659,132 2,785,100 60,478 . . 16.1Q27 4l,lbS 1,607,354 603,856 678,230 2,889,440 137,195 3,026,635 53,563 80,193 128,968 Total r e s e r v e s Non-reserve cash B i l l s discounted: Sec. by U.S.Govt, o b l i g a t i o n s Other b i l l s discounted TOTAL RESOURCES ITov. l4,192S IIov. 7,1923 Nov. 108,961 59,001 222,339 3,355 1,558,133 69,083 125,600 2.768,367 52,529 387,465 704,794 615 1,406,652 60,574 8,668 5,444,737 5,180,222 564 899,416 59,942 14,895 5,466,667 1,732,051 1,742,409 1,706,436 2,364,508 15,385 6,314 19,513 2,405,720 2,329,820 24,671 2,499,978 56,282 890,829 146,415 233,319 36,4o3 23,624 2,384,709 637,764 146,308 233,319 35,713 5,444,737 5,180,222 729 968,055 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 Deposits: Member bank - r e s e r v e account . Government . Foreign 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 TOTAL LIABILITIES 6,594 3,096 6,637 2,565,993 816,702 131,623 228,775 17,138 5,466,567 Ratio of t o t a l r e s e r v e s to deposit and F. R. note l i a b i l i t i e s combined . . . 67.4% 67.1$ 70.8% Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents . . . . . 256,953 253,117 184,253 C. RESOURCES RESOURCES MD LIABILITIES OF THE FEDEHAI'"EE3ER'VE"BBTKS Oil NOVEMBER l 4 , 1922. ( i n thousands of d o l l a r s ) Total Boston Hew York P h i l a . CIeve. Rich. Atlanta Chicago St.Louis ' Gold with Federal Reserve Agents 1,172,075 Gold redemption fund with U.S.Treas. 80,193 Total reserves ITon-re serve 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 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 indebtedness Total U.S. Govt, s e c u r i t i e s Other 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 from f o r e i g n banks U n c o l l e c t e d items Bank premises A l l other resources TOTAL RESOURCES C. Minn. ICans.Cy . Dallas San Fran. 121,762 - 5,436 174,585 So,005 137,929 46,l42 65,050 233,732 23,557 %5,532 33,618 25,307 178,856 2%,311 12,739 5,235 2,888 4,S6p 8,?5% 4,696 2,4p4 2,923 2,4l7 3,420 127,248 36,290 38,157 2,659,132 201,695 128,968 16,697 2,738,100 218,392 60,478 7,651 198,896 92,744 i 4 3 , l 6 4 49,030 69,910 242,486 28,253 47,936 36,5%! 27,724 182,336 237,973 4o,04o 47,939 20,358 17,606 176,902 24,231 22,39% 34,206 25,145 38,599 433,467 2g,l42 46,083 9,782 4,551 6lj44 9,100 5.369 6,274 7,008 30,507 Gold h e l d e x c l u s i v e l y against F. R. n o t e s 1,252,268 Gold settlement fund with i'.R.Board 721,680 Gold and gold c e r t i f . held by banks 685,184 Total gold reserves Reserves other than gold St. 5978% 524,931332,608 857,539 474,4oo 29,673 21,052 50,725 43,853 701 5%,377 108,961 2,592 59,001 3,295 222,339 6,888 3,855 1,558,133 106,471 729 37 968,055 99,576 60,574 3,324 8,66s 166 875,336 166,926 237,186 79,170 92,067 481,132 61,584 75,696 77,021 59,877 251,442 21,108 6,329 11,724 7,302 11,368 15,151 16,250 1,843 5,4oo 5,583 10,213 296,444 173,255 243,910 86,472 103,435 496,283 77,834 77,539 82,421 65,460 261,655 13,954 1,042 3.798 5,102 3,632 8,447 2,916 1,260 2,105 2-, 478 3,093 70,002 66,712 19,384 26,451 39,386 93,163 22,927 49,861 21,332 23,049 44,381 24,926 1,384 54s 585 21,330 10,135 28,338 20,083 10,352 4,4oo 42,797 21,072 33,236 200 155 1,152 1,063 1,209 154,634 39,713 194,397 142,770 3,424 - 20,239 72,991 25,733 12,356 47,554 52,638 21,958 5,4O4 67,793 125,629 47,691 IS,260 27,762 36,601 9,992 20,429 7,125 6,755 11,441 226 19,927 3,500 1,243 4,518 4,527 14,002 11,753 26,941 7,350 40,943 19,103 24,514 23,295 9,505 1,902 1,075 24,954 4i,n4 66,06s 42,465 43 8,663 4,185 12,893 3,ib5 3,700 1,661 4,969 33,290 20,776 10,706 12,482 16,013 16,636 — 6,60s - 2,210 - 3,ooo 49,895 77,939 6i,4n 125,169 18 18 l4 35 20,054 52,937 4o,925 52,353 3,828 2,202 4,303 635 663 394 500 - - 380,164 133,540 176,310 72,731 100,524 195,520 78,459 21 21 69 47 25 52 , 372 245,552 22,237 26,507 82,595 33,005 125,255 46,383 16,675 1,751 6,206 3,699 2,867 8,720 3,953 721 439 1,592 499 1,409 171 1,405 5,444,737 436,117 1,559,586 392,043 523,788 251,113 245,076 835.615 210,065 151,627 220,122 172,767 446,818 L I A B I L I T I E S RESOURCE'S AH)' LIABILITIES OF THE FEDERAL HESERVE B1EKS Oil NOVEMBER *l4", 1928. ( i n thousands of d o l l a r s ) Total Boston Now York P h i l a . Cleve. Rich. Atlanta Chicago St.Louis F . R . n o t e s in a c t u a l c i r c u l a t i o n 1,732,051 Deposits: Member bank - reserve account 2,364,508 Government 15,385 Foreign t a n k 6,314 Other d e p o s i t s 19,513 'Total d e p o s i t s 2,405,720 Deferred a v a i l a b i l i t y items 890,829 C a p i t a l paid in l46,4i5 Surplus 233,319 All other l i a b i l i t i e s 36,4o3 TOTAL LIABILITIES 5,444,737 Reserve r a t i o (per c e n t ) 67.4 Contingent l i a b i l i t y on b i l l s p u r chased f o r f o r e i g n correspondents 256,953 F.R.notes oa hand (notes r e c ' d from F.R.Agent l e s s n o t e s in circulation)368,o45 F.R.notes r e c ' d from Comptroller F.R.notes held by F.R. Agents F.R.notes issued to 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.notes issued to F.R.Bank: Gold and gold 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 in open market C e r t i f i c a t e s of indebtedness Municipal warrants C. 332,685 136,017 207,694 78,898 129,116 294,573 60,710 62,317 64,089 47,260 166,812 153,721 1,54? 457 230 394,993 135,888 188,665 70,232 67,307 359,702 82,196 56,631 92,024 70,040 193,049 1,138 1,086 1,312 2,875 1,201 668 1,356 1,447 I,34S 1,027 380 1,935 579 634 311 256 848 262 165 220 214 433 8,940 229 781 216 l44 i,i44 324 500 54 6,226 725 907,006 137",782 191.392 73,534 68,908 362,362 84,539 58,567 94,092 71,335 200,088 156,015 98,149 10,131 195,497 49,696 17,293 63,007 2,049 11,695 436,117 1,559,586 70.9 72.3 121,910 47,324 19.319 47,428 4o,4i4 50,679 18,451 5,4O4 3,008 4,218 4,317 10,865 32,778 io,397 7,039 9,o46 8,527 16,629 5,541 1,691 1,377 1,249 914 1,745 835,615 210,065 151,627 220,122 172,767 446,818 63.3 S4.i 75.5 53.6 52.1 55.2 71.3 73,441 24,281 26,581 13,035 10,735 35,527 10,990 6,901 9,201 8,945 18,147 19,169 32,119 813,105 52,210 2,100,096 183,999 346,557 35,300 98,105 13,462 727,413 73.000 1,277,031 _99,563 2,449,106 221,325 857,539 474,4oo 59,ooi 155 Minn. Kans.Cy. Dallas San Fran. 151,820 2,913,201 236,209 Total St. 5978c 79,422 14,602 21,662 2,558 392,043 82,710 78,407 29,570 14,390 6,103 5,230 24,021 12,324 9,996 3,581 1,747 2,256 523,788 251,113 245,076 62.4 56.. 52.2 101,979 24,988 24,298 17,954 30,784 39,844 12,902 7,517 FEDERAL RESERV3 1T0TE ACCOUNTS OF FEDERAL EE SERVE AGTHTS 9,066 9,846 56,748 726,444 211,205 266,822 118,561 218,260 460,087 90,622 83,598 105,415 72,4i8 323,560 291,780 50,200 34,330 21,709 58,360 125,670 17,010 13,764 32,260 15,312 100,000 434,664 161,005 231,992 96,852 159,900 334,4i7 73,612 69,834 73,155 57,106 223,560 1.53,407 16,178 5,000 314,928 489,513 50,000 10,628 12,929 6,690 27,100 7,600 14,167 17,293 35,000 5,452 6,950 2,732 1,957 3,365 2,758 3,014 18,680 75,377 75,000 34,000 31,000 231,000 i4,ooo 28,000 30,860 5,000 125,176 92,753 141,330 62,208 95,442 162,031 57,587 36,432 65,13s 42,287 107,332 178",758 275,259 108,350 160,492 395,763 8l,i44 81,964 98,756 67,594 286,188 M.TUBITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS Within 15 days l 6 to 30 days 31 to 60 days 6l to 90 days 91 days to Over 6 months 6 months 703,343 54,815 54,962 24,880 18,725 814 130,469 9,580 86,944 159,494 13,953 155 93,505 3,988 34,684 784
@FedFRASER