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STATEMENT FOE EHE PRESS Released, f o r p u b l i c a t i o n Friday morning, Nov. IS; not e a r l i e r . St. 5572 Federal Reserve Board, November 17, 1927* CONDITION OF FEDERAL RE SERVE BANKS Largely as a r e s u l t of the T r e a s u r y ' s f i n a n c i a l o p e r a t i o n s , the c o n s o l i d a t e d statement of c o n d i t i o n of the Federal r e s e r v e banks on November l 6 , made public by the Federal Heserve Board, shows a decrease f o r the week of $93>200,000 i n holdings of discounted b i l l s and i n c r e a s e s of $131,100,000 i n member bank reserve d e p o s i t s and of $174,600,000 i n Government s e c u r i t i e s , h o l d i n g s of which on Novemb e r 15 i n c l u d e d $lb^,500,000 of temporary c e r t i f i c a t e s i s s u e d by the Treasury to the Federal r e s e r v e banks. Total b i l l and s e c u r i t y h o l d i n g s i n c r e a s e d $73,800,000 and t o t a l d e p o s i t s $142,700,000, while cash r e s e r v e s d e c l i n e d $14,900,000 and Federal reserve note c i r c u l a t i o n $28,300,000. All of the Federal reserve banks r e p o r t smaller h o l d i n g s of discounted b i l l s with" the exception of A t l a n t a and Kansas City, which show i n c r e a s e s of $4,100,000 and $3,300,000, r e s p e c t i v e l y . The p r i n c i p a l d e c l i n e s i n d i s c o u n t s f o r the week were: New York $51,300,000, Chicago $14,000,000, Boston $8,400,000, St. Louis and Cleveland $5,400,000 each, Richmond and San Francisco $4,bOO,000 each. The System's h o l d i n g s of acceptances purchased i n open market declined $2,600,000, of Treasury n o t e s $42,300,000, and of United S t a t e s bonds- §16,900,000, while holdings of Treasury c e r t i f i c a t e s i n c r e a s e d $233,700,000, the amount h e l d on November l 6 , as p r e v i o u s l y s t a t e d , i n c l u d i n g $164,500,000 of temporary c e r t i f i c a t e s i s s u e d by the Treasury t o t h e Federal reserve "banks. The p r i n c i p a l changes i n Federal r e s e r v e note c i r c u l a t i o n f o r t h e week were d e c l i n e s of $7,100,000 r e p o r t e d by the New York bank, $6,200,000 by P h i l a d e l p h i a , $4,000,000 by Chicago, $3,900,000 by Cleveland, and $3,200,000 each by Boston and Atlanta. A summary of changes i n 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 r e s e r v e banks during the week and the year ending November l 6 , 1927, f o l l o w s : Increase or decrease Week Total r e s e r v e s Gold r e s e r v e s during Year - $14,900,000 - 20,500,000 + $41,900,000 + 38,400,000 + - 78,800,000 93.200,000 49,500,000 43,700,000 + - 181,100,000 199,600,000 ol,200,000 132,300,000 - 2,600,000 - 14,100,000 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 indebtedness . . + + 174,600,000 16,900,000 42,300,000 233,700,000 + 4. + 39^,700,000 217,200,000 61,000,000 240,500,000 Federal r e s e r v e n o t e s "in c i r c u l a t i o n - 28,300,000 Total d e p o s i t s . . . Member^1 r e s e r v e d e p o s i t s . . . . Government d e p o s i t s . . . . . . . + 142,700,000 + 131,100,000 - 19,000,000 . 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.Govt, o b l i g a t i o n s Other b i l l s discounted B i l l s bought i n open market . . . - 43,800,000 + 264,900,000 + 261,800,000 — 26,100,000 Thursday, November 24, being a h o l i d a y , the weekly statement of c o n d i t i o n of the Federal r e s e r v e banks f o r November 23 w i l l be i s s u e d on Friday, November 25, and r e l e a s e d f o r p u b l i c a t i o n on Saturday, November 26. Released f o r publication Friday morning, Nove Giber 13, 19^7; earlier. St. 5572a BE SOURCES AND LIABILITIES OF THE TWELVE FED3EAL EE SERVE BANKS COMBINED (In thousands of dollars) Gov. 16.1927 Nov. 9.1927 Nov. 17.1926 RESOURCES Gold with Federal reserve agents . . . . Gold redemption fund with U.S.Treasury . 1,566,186 4l,l68 1,503,631 47,006 1.397,938 38,39° Gold held e x c l u s i v e l y against F.R.notes (Jpld settlement fund with F. Rs. Board . Gold and gold c e r t i f i c a t e s h e l d "by hanks 1,607,354 603,856 678,230 1,550,637 669,435 689,849 1,456,334 709,237 —685,518 2,889,440 2,909*921 2,851.,089 137,195 131,570 —133,623 3,026,635 3,04l,4^1 2,984,712 58,563 53,029 56,379 226,958 l4o,478 c . . 276,454 184,187 288,198 —2,7,8,7% 367,436 46o,64l 566,987 333,807 336,413 347,882 387,465 153,754 —l4o,95_. 704*794 530,210 308,130 §22. ^'534 l,4o6,652 1,327,864 1,225,533 5,466,667 5.166,941 5.197.H7 1,706,436 1,734,696 1,750,281 TrttaT jgold reserves Reserves other than gold Total reserves • Non-reserve cash . . . . B i l l s discounted: Sec. by U.S.Government obligations . . Other b i l l s discounted . . Total b i l l s discounted . . . . s£"™: :::::: B i l l s bought i n open market 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 . . . - j ! j l jS TOTAL RESOURCES F. R. notes i n actual c i r c u l a t i o n . . . J l Js Jli g:gf $£ il TMember bank - reserve account . . . . Total deposits 2,499,978 2,3 2,565,993 2,423,332 2,301,120 . IT.00? _30ZI 5,l66,94l 5.197,117 K e r ' n ^ m u e , ' . V . U l TOTAL LIABILITIES 5,466,667 . 70.8# ^. 2 5 3 c. | | g# p|'oSI 73.1# ^'%*226 73.7# ^ RESOURCES AND LIABILITIES OP THE FEDERAL RESERVE BANKS ON NOVEMBER l 6 , 192?. RESOURCES (In thousands of d o l l a r s ) Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis 3 JSJ G °i\ R?1notes1USrVely a *ainst 19 15 st - 5572b "1:% 5:w "f:l5 :'^ 1:% ?:^ *1:$ *f 1 ass gff 2:S g* aa s£ ^ g# 1,607,354 114,874 336,570 120,459 196,868 Minn. Kans.Cy. Dallas San Fran. 35,302 152,178 259,21% 44,095 49,341 51,359 37,727 ^9*367 Total gold reserves Reserves other than gold 2,889,440 185.656 1,000,002 174,946 289.187 137.195 l 4 , 4 o 4 24,873 8,518 12,194 78,070 167,501 405,030 5,605 1?,780 18,750 85,590 12,859 69.977 4j£2 89,193 ^4l0 58,324 285,964 8^8 7,79% Total reserves Non-reserve cash 3,026,635 200,060 1,024,875 183,464 301,381 58,563 6,803 18,973 888 4,701 83,675 181,281 423,780 4,442 4,202 6,066 98,449 3,427 74,329 1,468 94,603 2,455 66,982 293,756 2,131 3,007 . a 3% ; iSffi f% : ti "eE?:z:„ sff-sa .3: n afcs n 3# ss m m n Total t i l l s discounted B i l l s taught i n open market 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 M i l s and s e c u r i t i e s EiEr TOTAL RESOURCES c. 367.436 333.807 23,708 35.244 103.260 .92,084 31,567 30,730 "9.671 17.663 18.702 4S.114 29,831 2,617 38.186 12,127 47.844 5,297 704,794 48,355 6l5/"><t0 1,406,652 107.307 182,365 58,494 75,068 15,417 14,845 99,410 z 122 377.709 123,891 142,402 82.233 47,293 185,440 42,717 6o,l4l 2.024 20,546 5.378 33.227 10,838 18,469 30,915 53,681 29.436 4,680 42,880 38,531 55,797 74,264 ~ 62,378 ~ 89.913 -. il -I # 4 if •! il '•! *1 il "I '-! 5,466,667 405,086 1,670,020 389,708 540,273 248,735 271,913 733,236 211,037 154,212 229,716 170,170 442,561 L I A B I L I T I E S H&SOURCE& Total F.R.notes i n actual c i r c u l a t i o n 1,706,436 Deposits: Member "bank - reserve account 2,499.978 Government 3,096 Foreign "bank 6,637 Other deposits 56,282 Total deposits 2,565,993 Deferred a v a i l a b i l i t y items 816,702 Capital paid i n 131,623 Surplus 228,775 A l l other l i a b i l i t i e s 17.138 TOTAL LIABILITIES 5,466,667 Reserve r a t i o (per cent) 70.8 Contingent l i a b i l i t y on "bills purchased f^a* i'-oreign correspondents 184,253 F.R.notes t>n hand (notes rec'd from F.R.Agent l e s s notes i n circulation)398»754 F.R.notes rec'd from Comptroller F^R.notes held "by F. R. Agent F.R.notes issued to F.R.Bank Collateral held as security for 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 LIABILITIES OP THE FEDERAL RESERVE BASKS ON NOVEMBER 16, I927. St. 5572c (In thousands of dollars) Boston New York Hiila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 135,134 366,570 131,473 209,496 76,602 151,825 232,434 53,208 62,681 65,796 50,274 170,943 159,307 987,847 147,958 206,265 79,002 69,764 345,116 11 27 34 733 43 332 226 2,659 528 583 286 759 3,563 15,525 2,868 7,029 3.006 1,052 »4.893 163,601 1,006,058 151,388 214,610 82,337 71,053 351,100 78,683 191,560 71,564 76,746 70,174 33,460 97,470 9,401 40,070 13,269 13,956 6,249 5,136 17,362 17,606 6l,6l4 21,267 23,746 12,198 9,632 31,881 661 4.148 747 1.719 1.175 807 2,989 *405,086 1,670,020 389,708 5^0,273 248,735 271,913 733,236 67.0 64.9 74.7 71.1 52.6 81.3 72.6 318 413 13,727 51,923 17,571 19,401 9,518 90,474 478 237 60,445 380 165 96,023 69,067 188,710 l4i * 78 521 203 193 385 7,258 856 4,571 103,625 70,194 194,187 46,198 36,521 51,009 4,231 4,273 9,338 , 4,105 1,556 95,294 62,5146 45,949 17,368 5,324 3,0l4 9,939 7,527 9,029 8,215 16,121 1,323 1.076 837 693 963 211,037 154,212 229,716 170,170 442,561 66.3 59.4 55-8 80.5 55.6 5,491 6,772 6,4o6 12,812 8,562 8,361 2,919,310 231,186 814.120 66.200 2,105,190 164,986 6,054 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 770,768 207,545 279,008 117,675 235,297 444,482 79,125 87,159 283,080 ^40,000 31,830 28,554 52,725 159,500 19,700 -18,424 487,688 167,545 247,178 89,121 182,572 284,982 59,425 68,735 414,574 35,300 12,399 1,049,793 64,000 679,014 58,952 2,245,200 170,651 215,150 19,917 90,000 185,391 510,458 101,819 29,852 25,258 7,870 121,118 36,072 37,682 12,519 30,747 52,548 6,217 12,06S 100,477 57,230 169,775 7,504 40,000 29,831 18,118 7,500 13,015 2,776 8,127 2,767 2,480 140,000 124,100 255,000 32,500 65,917 64,825 32,347 85,880 17,332 258,932 97,432 182,692 343,647 59,812 49,022 113,148 77,052 276,865 38,790 18,417 56,900 74,358 58,635 219,965 11,372 17,303 140,000 1,286 4,251 3,528 19,205 34,500 44,860 15,500 148,856 21,970 31,291 23,802 34,077 69,128 80,402 60,133 242,138 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS Total 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 indebtedness Municipal warrants 367,436 333,807 387,465 115 Within 15 days 301,989 117,708 165.540 l 6 to 30 days 19.447 65.940 31 to 60 days 27,885 76,603 115 6l to 90 days 11,273 70,578 months° 6,4i6 2,978 167,004 Over 6 months 426 54,921
@FedFRASER