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STATEMENT FOE THE PRESS St. 5583 F e d e r a l Reserve Board, November 25, 192?. Released f o r p u b l i c a t i o n Saturday morning, Hov. 26; not e a r l i e r . CONDITION OF FEDERAL RESERVE BASKS 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 t h e FeddJral Reserve banks on November 23, made p u b l i c by t h e Federal Reserve Board, sbows d e c l i n e s f o r t h e week of $107,500,000 i n member bank r e s e r v e d e p o s i t s , of $39,800,000 i n b i l l and s e c u r i t y h o l d i n g s , and of $34,000,000 i n cash r e s e r v e s , and an i n c r e a s e of $22,300,000 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 c o u n t e d b i l l s i n c r e a s e d $50,900,000, while h o l d i n g s of acceptances purchased i n open market d e c l i n e d $7,100,000 and of Government s e c u r i t i e s $83,600,000. Larger h o l d i n g s of d i s c o u n t e d b i l l s a r e r e p o r t e d by most of the F e d e r a l r e s e r v e banks, t h e p r i n c i p a l i n c r e a s e s b e i n g : Boston $16,000,000, Chicago $12,300,000, San F r a n c i s c o $10,400,000, New York $9,600,000, A t l a n t a $7,100,000, and St. Louis $7,000,000. Discount h o l d i n g s of t h e Cleveland bank d e c l i n e d $12,100,000 and of Kansas C i t y $3,600,000. The System's h o l d i n g s of acceptances purchased i n open market d e c l i n e d $7,100,000, and of Treasury n o t e s and bonds $1,200,000. Holdings of Treasury c e r t i f i c a t e s d e c l i n e d $82,300,000, a s a r e s u l t of the r e d u c t i o n from $164,500,000 to $80,500,000 i n h o l d i n g s of temporary c e r t i f i c a t e s i s s u e d by t h e Treasury i n connection with i t s mid-November f i n a n c i a l operations. 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 f o r the week comp r i s e i n c r e a s e s of $9,400,000 r e p o r t e d by t h e Chicago bank, $5,700,000 by P h i l a d e l p h i a , and $5,500,000 by Cleveland. 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 t h e r e s e r v e brinks d u r i n g t h e week and t h e year ending November 23, 1927, f o l l o w s : Increase or decrease Year '7eek Total r e s e r v e s . Gold 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 . . . . 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 d i s c o u n t e d . . . . B i l l s bought i n open market - $34,000,000 - 29,500,000 + + $34,700,000 30,200,000 + + 39,800,000 50,900,000 59,900,000 9,000,000 + - 96,200,000 209,300,000 48,700,000 160,600,000 7,100,000 - 13,900,000 . . 100,000 1,100,000 82,300,000 + 321,300,000 + 219,000,000 61,200,000 + 163,500,000 22,300,000 45,400,000 83,600,000 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 . . Federal reserve notes i n c i r c u l a t i o n + T o ta l d e p o s i t s 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 . . . . - 130,200,000 c. during - 107,500,000 + 900,000 + + - 173,500,000 190,100,000 24,100,000 Released f o r p u b l i c a t i o n Saturday morning, November 2b,1927; not e a r l i e r . St. 5583s HES0T1BC5S MB LT4T3J17TIES' —•••••• OF THE TWELVE Z3IEEAL BE33R7E BAK3LS COMBINED ( i n t h o u s a n d s of d o l l a r s ) Nov. 23.1927 Hov. l 6 . 1 9 2 7 Eov. 24,1926 RESOURCES Gold with F e d e r a l r e s e r v e a g e n t s Gold redemption f u n d with U. S.Treasury . . 1,569?ls5 4l, r >9^ 1,566,186 4l,l6g 1,395,138 5^:844 1,610,759 1,607,35^ 1,449,982 583,007 661,172 $03.355 678230 , 696,966 682,782 Total gold r e s e r v e s Reserves o t h e r t h a n gold 2,859,938 132.687 2,889,440 137,195 2,829,730 128,201 Total reserves 2,992,625 3,026,635 2,957,931 5^,117 58,563 ^7«23§ 286,826 131,469 226,958 1^0,U78 335,^99 292,105 418,295 326,710 367,'+36 333,807 627,6o4 3^0,629 </z-7 264,688" r a 264,800 5 ' 52,529 305»ll6 387>^&5 45,668 112,583 l4l,653 . 621,232 635 704,79^ &15 299,904 2,5^ T o t a l 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 i t e m s .. Bank premises All other resources • • 1,366,872 5°5 706,811 59,9^5 13,707 1,406,652 5^ 899,41b "" 59,9^2 14,895 1,270,681 651 694,469 60,093 14,924 TOTAL RESOURCES 5,194,642 5,466,667 5,045,985 1,728,703 1,706,436 1,77^,05^ 2,392,520 3,981 5»9--^ 33•. 375 . 2,499,978 3,096 6,637 56,282 ^ , 2,202,406 . 28,118 13,^83 17?90fy 2,435,790' 2,565,993 2,262,311 816,702 641,028 17,7&6 17,138 23,841 5,194,642 5,466,667 5,045,985 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 with F. R. Board . . Gold and gold c e r t i f i c a t e s h e l d "by banks . Eon-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 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 : 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 . . . . . . 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 L I A B I L I T I . . . . . . ESS 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 account . . . . . 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 i t e m s 651,939 ^ ^ . y . Y . Y . Y . Y . Y . £ : g 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 to 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 . . . . 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 . . . . . . http://fraser.stlouisfed.org/ C. Federal Reserve Bank of St. Louis 71*9$ 70.5/6 OOP 186,781 • 184,253 ' ^ RESOURCES HE SOURCES AH). LIABILITIES OF THE FEDERAL RESERVE BAMS OH NOVEMBER 23, 1927. • ( i n thousands of d o l l a r s ) S t . 55831 T o t a l Boston Hew York Phi l a . Cleve. G v l i r a t h F e d e r a l Reserve Agents 1 , 5 6 9 , 1 6 5 118,6gg 335,068 109,566 204,485 Gold redemption f u n d with U . S . T r e a s . 4 l , 5 9 4 5,519 9,878 4.l6l 3.229 Rich. 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 Fran. 36,636 l 4 l , 0 0 3 257,767 35,834 45,927 49,387 34,127 200,677 2,812 2,469 4.376 1.710 2.421 1.567 1.6oq l!?6l 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 l,6io,759 Gold s e t t l e m e n t f u n d with F.E.Board 588,007 Gold and g o l d c e r t i f . h e l d by "banks 661,172 26,531 7.334 T o t a l .-old r e s e r v e s Reserves o t h e r t h a n gold Total reserves Hen-reserve cash B i l l s discounted: Secured by U.S.Govt, o b l i g a t i o n s C t h ^ b i l l s discounted Total b i l l s discounted B i l l s bought i n open market 0, 5, 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 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 T o t a l 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 Ea?Jr p r e m i s e s All other resources TOTAL RESOURCES 2,859,938 132,687 124,207 22,880 34,040 344,946 113,727 207,714 39,448 143,472 262,143 37,564 4s,4io 50,954 35,736 202,438 272,356 422,981 181,127 1,o4o,283 13,702 25,618 4l,264 26,001 39,284 4l,507 180,992 288,505 8,377 9,695 2,633 8.239 65,827 55.200 23,384 1 2.67% 9,573 7.153 33,994 7.251 12,792 7.234 37,4^9 73,183 154,344 383,170 5,144- 13,761 16,574 73,623 12,995 65,136 92,199 5.802 55,762 271,614 7.807 4.379 8.831 2,992,625 194,829 l,0c5,901 189,369 298,200 78,327 168,105 399,744 86,618 69,515 98,001 64,595 279,421 54,117 6,344 15,234 868 2,978 4,269 4,096 7,538 3,527 929 2,494 2,34o 3,500 286,82b 131,469 22,330 17,393 98,259 14,593 20,8l6 13.542 31,640 5.896 418,295 326,710 39,723 36,694 112,852 84,645 34,358 32,297 37,536 .21,070 l 6 , 2 b 8 50,04l ^ 264,6^ 13,799 51, ^ 2,185 305,11^ 17,193 621,232^ 33,182 635 Li*) ~ 1 , 3 6 6 , 8 7 2 109,599 5^5 36 706,811 66,579 59,945 3,946 13,707 104 10,021 ll,04q 47,356 16,047 33,792V5,931 7,326 5,920 810 73,c83 25,527 33,546 7,175 128,365 47,494 76,168 13,916 - 100 - 325,862 l l 4 , 2 4 o 129,972 213 47 52 177,4oo 64,382 65,567 16,276 1,749 7,118 4,959 270 1,210 - 85,027 25 6o,537 2,689 46l 10,958 25.962 34,883 15.638 11,754 7.365 36,920 50,521 19,119 2,723 47,119 4,683 4l4 6,$5£ 10.75S 3,902 3, PIP! 35,690 2,364 19,811 16,917 7,120 18,572 39,795 1.Q50 10,l60 HT10R 3,697 5,705 45,892 18,224 13,173 20,349 19,361 25,059 2,429 4,132 7,431 4,439 2,886 2,575 2,^5 6,830 55,166 '17,062 13.303 19.645 14.708 21.273 l 4 , 9 6 4 105,190 — 42,717 - 30,915 535 42,880 - 36,644 - 48,797 - 54,607 202,830 66,519 2Q 6? 21 28,209 82,233 34,392 2,904 8,710 3,957 1,415 1,364 770 53,625 15 69,957 18 62,336 17 28,973 92,289 34 481 872 15,306 41,667 2,774 4,476 1,199 602 1,827 41,516 3,519 5,194,642 381,437 1,605,345 370,934 505,097 231,335 259,356 702,536 195,804 143,363 217,215 160,569 421,151 L I A B I L I T I E S RESOURCES ALIA . L I A B I L I T I E S OF THE FEDERAL E E SERVE BANKS OH NOVEMBER 2 3 , Total F.R.notes in actual circulation Deposits: Member "bank - r e s e r v e a c c o u n t Government Foreign tank Other d e p o s i t s Total de-posits Deferred a v a i l a b i l i t y items Capital paid i n Surplus All other l i a b i l i t i e s 1,728,703 136,029 2,392,520 3,981 5,914 33,375 2,435,790 651,939 131,649 228,775 17,786 5,194,642 71.9 TOTAL LIABILITIES Reserve r a t i o (per cent) 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 chased f o r f o r e i g n correspondents 186,781 J , R . n o t e s on h a n d ( n o t e s r e e ' d f r o m F.E.Agent l e s s n o t e s i n c i r c u l a t i o n ) 3 8 5 , 4 2 0 jj.R.notes r e e ' d from Comptroller F . E . n o t e s h e l d b y F . R. Agent F . R . n o t e s i s s u e d t o F.E.Bank Collateral h e l d 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 . E . B o a r d E l i g i b l e paper Total c o l l a t e r a l Boston 153,208 158 4i3 1,107 154,886 62,757 9,402 17,606 757 381,437 67.O 13,727 31,846 S t . 5583c 1927. ( i n t h o u s a n d s of d o l l a r s ) Hew York F h i l a . Cleve. R i c h . A t l a n t a Chicago S t . L o u i s Minn. K a n s . C y . D a l l a s San F r a n . 369,132 137,177 215,027 77,594 150,000 241,814 53,131 61,708 66,033 49,718 171,340 964,976 137.059 565 119 1,937 528 13,499 973 980,977 138,679 149,859 59,726 40,134 13,269 61,6i4 21,267 4,129 8lb 1,605,845 370,934 68.6 78.9 183,712 831 583 3.093 188,219 62,368 13,956 23,746 1,781 505,097 73.9 75.397 115 286 1,369 77,167 56,916 6,249 12,198 1,211 231,335 50.6 54,451 17,571 19,401 9,518 66,970 33 225 956 68,184 25,563 5,136 9,632 S4i 259,356 77.0 329,434 87,570 235 757 759 237 1,272 1,675 331,700 90,239 76,687 35,790 17,360 5,324 31,881 9,939 3,094 1.381 702,536 195,804 6o.4 69.7 55,007 95,961 67,481 143 189 52 165 203 193 868 3.6i4 507 56,229 99,921 68,233 13,707 37,132 29,409 3,012 4,231 4,274 7,527 9,029 8,215 1.180 869 720 143,363 217,215 160,569 54.8 58.9 59.1 175,745 784 385 4,442 181,356 42,025 9,302 16,1a 1.007 421,151 79.2 7,504 25,258 7,870 5,491 6,772 6,k>6 12,812 122,364 31,389 30,221 10,556 30,400 146,729 5,648 5,711 9,281 8,714 52,561 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 2,934,163 231,175 820,040 63,300 2,114,123 167,875 767,976 212,566 295,478 116,704 233,455 44o,743 78,479 86,533 113,904 76,349 280,801 276,480 44,000 50,230 28,554 53,055 152,200 19.700 19.114 38.590 17.917 56.900 1491,496 168,566 245,248 88,150 180,400 288,543 58,779 67,419 75,314 58,432 223,901 415,467 108,481 1,045,217 716,423 2,285,588 215,150 19,91s 9,089 100,000 100,477 180,359 63,139 515,427 172,705 35,300 19,388 64,000 76,417 195,105 4o,ooo 29,830 18,117 7,500 14,485 6,806 6,286 2,767 1,834 150,000 - 116,600 255,000 26,500 51.989 66,06S 39.483 97.481 23.719 256,474 102,704 180,^6 355,24s 59,553 17,303 40,000 12,267 660 3,527 4,824 18,897 33,000 45,860 12,000 141,780 21.890 26.978 25.646 43.254 67,817 76,365 59,773 243,931 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS Total B i l l s discounted B i l l s b o u g h t i n open m a r k e t 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 Municipal warrants 418,295 326,710 305,116 35 W i t h i n 15 d a y s 354,146 111,725 83,122 l 6 t o 30 d a y s 18,668 64,913 31 t o 60 d a y s 26,525 97,576 35 6 l t o 90 days 11,394 50,366 ^ months° 6,876 ,2,1] 167,068 Over 6 months 686 54,926
@FedFRASER