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I STAHHEKT FOR THE PEESS Released f o r publication F r i d a y m o r n i n g , Nov. 2; not e a r l i e r . St. 5957 F e d e r a l Reserve Board, November 1 , 1J28. CONDITION OF FEDERAL RESERVE BMiCS 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 "banks on O c t o b e r 31, made p u b l i c by t h e F e d e r a l R e s e r v e B o a r d , shows i n c r e a s e s f o r t h e week of $ 2 0 , 3 0 0 , 0 0 0 i n h o l d i n g s of b i l l s d i s c o u n t e d , of $ 3 8 , 9 0 0 , 0 0 0 i n b i l l s b o u g h t i n open m a r k e t , a n d of $ 4 9 , 2 0 0 , 0 0 0 i n member b a n k r e s e r v e d e p o s i t s , and d e c r e a s e s of $ 3 , 9 0 0 , 0 0 0 i n h o l d i n g s of Government s e c u r i t i e s , of . ^ 5 , 3 0 0 , 0 0 0 i n c a s h r e s e r v e s , and of sj>b00,000 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 . T o t a l b i l l s and s e c u r i t i e s were $ 5 5 , 3 0 0 , 0 0 0 above t h e amount h e l d on O c t o b e r 24. The p r i n c i p a l c h a n g e s i n h o l d i n g s of d i s c o u n t e d b i l l s f o r t h e week were i n c r e a s e s of $ 2 4 , 5 0 0 , 0 0 0 a t t h e F e d e r a l R e s e r v e Bank of C h i c a g o , $ l 4 , 2 0 0 , 0 0 0 a t Hew York and $ 7 , 7 0 0 , 0 0 0 a t P h i l a d e l p h i a , and d e c r e a s e s of $ 7 , 1 0 0 , 0 0 0 a t San F r a n c i s c o , $ 6 , 9 0 0 , 0 0 0 a t M i n n e a p o l i s and $ 5 , 9 0 0 , 0 0 0 a t C l e v e l a n d . The S y s t e m ' s h o l d i n g s of b i l l s bought i n open m a r k e t i n c r e a s e d $ 3 5 , 9 0 0 , 0 0 0 , 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 d e c l i n e d $ 4 , 1 0 0 , 0 0 0 and h o l d i n g s of U. S. b o n d s and Treasury c e r t i f i c a t e s remained p r a c t i c a l l y unchanged. A d e c r e a s e of $ 6 , 4 0 0 , 0 0 0 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 a t s i x of t h e F e d e r a l r e s e r v e b a n k s , of which $ 4 , 2 0 0 , 0 0 0 was r e p o r t e d by t h e F e d e r a l R e s e r v e Bank of C l e v e l a n d , was n e a r l y o f f s e t by an a g g r e g a t e i n c r e a s e of $5,800,000 a t the remaining six reserve banks. L summary of c h a n g e s 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 b a n k s d u r i n g t h e week and t h e y e a r e n d i n g O c t o b e r 3 1 , 1 9 2 8 , f o l l o w s : Increase or decrease Week Total reserves Gold r e s e r v e s - $5,300,000 -- 5,100,000 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 . 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 + 20,300,000 + 55,300,000 during Year - $293,700,000 290,700,000 362,700,000 553,100,000 + 11,600,000 + + + + 199,700,000 B i l l s bought i n open m a r k e t + 35,900,000 + 105,800,000 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 . , - 3,900,000 100,000 Federal reserve notes in circulation 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. + - + S,700,000 4,100,000 299,300,000 - + 200,000 — 600,000 ** + 44,500,000 + 49,200,000 - 4,700,000 353,4oo,ooo •f + 224,100,000 18,700,000 93,900,000 7,300,000 14,700,000 8,600,000 i4,4oo,ooo R e l e a s e d f o r p u b l i c a t i o n F r i d a y m o r n i n g , Hovember 2, 1$2S; n o t e a r l i e r . St. 5957a RESOURCES ALTD LIABILITIES OF THE TWELVE -jPEDER&L RESERVE BI2ES COMBINED ( i n t h o u s a n d s of d o l l a r s ) O c t . 31.1928 O c t . 24.1928 !Tov. 2.1927 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 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 u r y . Gold h e l d 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 h F . R. B o a r d . Gold and g o l d c e r t i f i c a t e s h e l d "by "banks Total sold reserves Reserves other than gold Total reserves Eon-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 d i s c o u n t e d Total "bills discounted . . . . B i l l s "bought i n open marl-ret 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 i n d e b t e d n e s s T o t a l U . S . Government s e c u r i t i e s 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 . . . Due f r o m f o r e i g n b a n k s Uncollected items Bank o r e m i s e s All other resources TOTAL RESOURCES 1,182,0%% 71,333 1,253,877 709,223 677,996 2,641,096 131,900 2,772,996 56,874 1,180,352 68,553 1,248,910 706,947 690,373 2,645,230 132,064 2,778,294 57,%87 1,609,809 40,072 1,649,881 603,971 677,9%5 2,931,797 134,856 3,066,653 55,657 562,096 370,175 932,271 440,376 553,393 353,53% 911,927 4oi,478 208,723 170,498 379,221 334,576 53,359 121,582 52,158 227,099 3,730 1,603,476 732 694,479 60,54s 3,933 5,198,038 53,%12 125,667 51.968 231,047 3,730 1,548,182 732 73%,235 60,513 5,449 5,137,892 277,%78 102,852 l%6,o%6 526,376 600 1,240,773 565 715,124 59,77% 13,347 5,152,393 1,709,816 1,710,409 1,717,116 2,370,988 20,49s 6,099 21,437 2,419,022 655,508 145,878 233,319 34,495 5,198,038 2,321,338 25,240 6,6s6 20,709 2,37%,%73 089,914 145,926 233,319" 33^251 5,137,392 2,362,429 6,123 5,%33 30,309 2,4O4,294 654,634 131,338 228,775 16,186 5,152,393 L I A B I L I T I E S F . 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 b a n k - r e s e r v e a c c o u n t . . . . Government Foreign bank Other d e p o s i t s Total deposits 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 other 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. n o t e l i a b i l i t i e s combined . . 67.2# 68.0% 74.4% C o n t i n g e n t l i a b i l i t y on b i l l s p u r c h a s e d for foreign correspondents . . . . 250,941 262,421 186,595 C. RESOURCES MB LIABILITIES OF THE FEDERAL RESERVE BAMS OF OCTOBER 31, 1928 S t . 5957b ( I n t h o u s a n d s of d o l l a r s ) T o t a l Boston Hew York P h i l a . Clove. R i c h . A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. D a l l a s San F r a n . Gold ;7ith F e d e r a l R e s e r v e A g e n t s 1 , 1 8 2 , ( # 4 121,04? 1 7 4 , 7 0 3 8 4 , 7 6 3 1 5 2 , 2 1 0 3 3 , 0 3 1 59,189 253,824 21,324 4 4 , 5 8 6 4 0 , 2 9 5 2 3 , 7 0 1 1 7 3 , 3 7 1 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 . 7 1 , 8 3 3 7,567 15,%72 9,%08 4,778 2,852 4,765 8,270 5,1%% 3,905 3,975 2,123 3,57% R E S O U R C E S Gold h e l d 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 1,253,877 128,6l4 190,175 9 4 , 1 7 1 156,988 35,883 Gold s e t t l e m e n t f u n d TTith F . R . B o a r d 7 0 9 , 2 2 3 Gold a n d g o l d c e r t i f . h e l d "by "banks 6 7 7 , 9 9 ^ 56,400 35,%09 271,502 434,008 38,880 28,119 Total gold reserves Reserves other than gold Total reserves ITon-re s e r v e c a s h ' B i l l s discounted: S e c u r e d "by U . S . G o v t , o b l i g a t i o n s Other "bills discounted Total "bills discounted B i l l s b o u g h t i n 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 i n d e b t e d n e s s T o t a l U . S . Govt, s e c u r i t i e s 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 Dae f r o m f o r e i g n "banks Uncollected items Bank p r e m i s e s All other resources TOTAL RESOURCES C. 2 , 6 4 1 , 0 9 6 220,423 131,900 15,924 2,772,996 236,347 56,87% 7 ,%55 53,672 45,690 895,685 161,170 256,350 21,046 7,o44 12,442 916,731 168,2i4 268,792 16,097 1 , 0 5 4 4 , i o 6 562,096 20,19s 370,175 12,628 932,271 32,826 440,376 43,895 191,345 70,116 70,434 15,684 46,871 24,259 26i,46l 86,118 71,130 41,531 701 1,384 29,o44 53,359 121,582 52,158 3,482 138,196 20,671 2,705 16,899 227,099 3,730 6,888 %7,327 200 i,6o3,476 732 694,479 6o,5%8 8,933 83,609 37 68,499 3,824 l66 - 447,184 376 %8,%91 44,270 2 5 , 8 2 4 176,9%5 22,437 8,873 25,712 26,6o4 6,564 28,005 7,030 78,272 8,326 8 4 , 8 4 2 427,157 12,277 1 6 , 0 7 3 57,778 15,5%% 79,%88 2,127 77,%38 5,966 60,859 2 4 1 , 6 3 4 5,418 9,713 86,598 97,119 4 4 3 , 2 3 0 73,322 81,615 83,%o% 66,277 251,3%7 3,201 1,284 2,131 1,966 3,579 100,182 24,278 67,849 168,031 31,619 7,058 6,585 13,722 2%,356 12,731 9,7%3 35,323 3%,993 %7,393 11,918 13,643 38,078 24,908 22,%7% 21,732 70,316 %O,276 19,927 7,688 6,710 7,125 11,837 1,81% 4,519 4,824 1,363 8,505 1,902 1,075 8,663 %,596 2,6%9 %2 13,556 3,037 34,325 20,776 10,706 11,482 15,908 16,635 4,178 3,589 20,563 55,623 4 4 , 6 1 5 76,186 20,998 25,6l4 19,391 25,224 585 548 1,152 1,279 9,79% 3,752 993 208 3,695 1,367 21,072 33,286 3,424 5,270 10,693 28,986 30 - - — 8,234 — 127,891 l%5,9%7 69,037 107,070 233,975 47 52 1,751 151 6,806 1,335 192,578 56,678 61,229 16,675 l,l42 26,468 33,927 8,462 262,09% 16,29% 102,972 4,594 62,091 63,95% 25 55>71 3,698 463 5,198,038 399,937 1 , 5 9 0 , 7 8 3 3 5 5 , 7 8 6 488,267 219,470 23,115 - 5,285 19,018 500 - 3,000 32,818 31,871 — 63,114 17 28,844 1,939 %10 127,227 236,829 777,769 192,803 1%5,770 20%,395 162,567 423,662 21 24,473 2,867 1,690 69 82,834 8,720 707 80,087 21 31,79% 3,930 448 43,867 l4 15,380 2,202 1,408 74,46s 18 39.707 4,308 359 35 36,992 3,828 65% L I A B I L I T I E S RESOURCES AND LIABILITIES OF I h b D'EDEHAL RESERVE' BASKS' ON OCTOBEH'31,1928. ( I n t h o u s a n d s of d o l l a r s ) T o t a l Boston New York P h i l a . C l e v e . R i c h . A t l a n t a Chicago S t . L o u i s F.R.notes in actual circulation 1,709,816 149,712 333,457 128,123 200,927 Deposits: Member "bank ~ r e s e r v e a c c o u n t 2,370,988 151,171 944,109 133,368 184,739 Government 20,498 1,865 2,307 884 1,088 F o r e i g n "bank 6,099 395 2,318 500 548 Other d e p o s i t s 21,437 213 10,428 136 1,145 Total deposits 2,419,022 153,644 959,162 134,888 187,520 Deferred a v a i l a b i l i t y items 655,508 66,685 174,705 54,110 58,136 Capital paid in 145,878 10,122 49,206 14,578 14,392 Surplus 233,319 17,893 63,007 21,662 24,021 All other l i a b i l i t i e s 34,495 1,881 11,246 2,425 3,271 TOTAL LIABILITIES 5,198,038 399,937 1,590,783 355,786 488,267 Reserve r a t i o (per c e n t ) 67.2 77.9 70.9 64.0 69.2 C o n t i n g e n t l i a b i l i t y on M i l s p u r chased f o r foreign correspondents 250,941 19,424 64,994 24,603 26,934 F.BVnotes on hand ( n o t e s r e c ' d f r o m F.R.Agent l e s s notes in circulation)387,572 F.R.notes r e c ' d from Comptroller F . R . n o t e s h e l d "by F . R. A g e n t s F . R . n o t e s i s s u e d t o F.R.Bank Collateral held as security f o r F . R . n o t e s i s s u e d t o F.R.Bank: Gold and g o l d c e r t i f i c a t e s Gold r e d e m p t i o n f u n d Gold f u n d - F . R. Board E l i g i b l e paper Total collateral C. Minn. Kans.Cy. D a l l a s San F r a n . 73,481 128,684 297,o4i 6o,974 61,768 63,269 4s,o42 164,338 70,026 3,264 269 379 73,938 51,947 6,102 12,324 1,678 219,470 58.7 65,125 342,218 79,718 2,328 221 176 67,850 22,953 5,239 9,996 2.107 236,829 49.4 13,208 10,877 56,433 1,048 142 89,544 1,025 190 1,198 100,668 3o,44o 30,446 15,599 3i,2l4 45,475 12,205 7,145 10,063 10,448 60,097 35,300 :<?c 17,747 102,680 732,791 68,000 1,318,367 76,701 2,500,411 197,748 153,407 16,296 5,000 375,669 550,372 932,271 440,376 52,155 30 184,185 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 2,097,388 183,484 346,567 70,352 888 184 _IL 71,501 29,316 4,317 8,527 864 2,172 732 226 374 2,281 721 4o4 649 4,828 347,662 81,863 58,027 91,408 191,559 76,524 32,588 l4,6oi 35,315 38,628 18,447 5,405 3,008 4,197 10,865 32,778 10,397 7,039 9,046 16,629 5,317 1,576 1,327 1,160 1,643 777,769 192,803 145,770 204,395 162,567 423,662 68.7 51.3 68.1 53.9 55.4 70.6 35,998 11,136 6,992 9,323 9,064 18,388 2,431 720,905 208,563 268,603 113,589 220,098 462,786 90,589 84,652 105,992 286,780 50,000 37,230 24,509 60,200 120,270 17,410 15,739 32,660 434,125 158,563 231,373 89,080 159,898 342,516 73,179 68,913 73,332 2,911,308 240,494 813,920 57,010 Total 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 33,772 S t . 5957c 10,986 73,777 86,764 171,527 73,802 321,235 15,312 96,800 58,490 224,435 50,000 6,690 27,100 7,600 14,167 17,303 35,000 12,210 7,34l 4,089 2,824 2,724 2,419 2,435 4,398 19,217 90,000 19,000 28,000 251,000 11,000 28,000 37,860 2,000 119,154 110,759 60,462 101,737 199,436 59.260 30,451 62,715 44,i6i 110,252 262,969 93,493 160,926 453,260 80,584 75,037 103,010 67,862 233,623 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS 91 d a y s t o Within 15 days l 6 t o 30 days 31 t o 60 days 6 l t o 90 days Over 6 months 6 months 770,441 42,312 *66,556 35,oi4 17,096 852 131,511 4,830 52,332 139,843 11,229 111,296 30 5,394 34,029 2,070
@FedFRASER