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Released, f o r p u b l i c a t i o n F r i d a y morning, Nov. 4; not e a r l i e r . SIA55HBHT FOR THE PBBSS S t . 5557 F e d e r a l Reserve Board, November 3» 1927 • 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 the F e d e r a l r e s e r v e banks on November 2, made p u b l i c "by t h e F e d e r a l Reserve Board, shows i n c r e a s e s f o r t h e week of $26,000,000 i n h i l l and s e c u r i t y h o l d i n g s , $14,100,000 i n F e d e r a l r e serve note c i r c u l a t i o n and $10,600,000 i n member hank r e s e r v e d e p o s i t s and a d e c r e a s e of $26,200,000 i n c a s h r e s e r v e s . Holdings of b i l l s d i s c o u n t e d f o r member banks d e c l i n e d $23,200,000, while h o l d i n g s of a c c e p t a n c e s and Government s e c u r i t i e s p u r c h a s e d i n t h e open market i n c r e a s e d $33,500,000 and $15,700,000, r e s p e c t i v e l y . •* The p r i n c i p a l changes i n discount h o l d i n g s f o r t h e week i n c l u d e d e c r e a s e s of $34,500,000 and $10,400,000 by t h e New York and Boston b a n k s , and i n c r e a s e s of $13,500,000 and. $5,400,000 by Cleveland and Chicago. The System's h o l d i n g s of a c c e p t a n c e s purchased i n the open market i n c r e a s e d $33,500,000 d u r i n g t h e week, of United S t a t e s bonds $15,600,000, and of Treasury c e r t i f i c a t e s $22,200,000, while h o l d i n g s of Treasury n o t e s d e c l i n e d $22,100,000. 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 comprise i n c r e a s e s of $10,200,000 and $3,000,000 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 banks of New York and San F r a n c i s c o and a d e c r e a s e of $3,300,000 by t h e Cleveland bank. A smmary 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 serve banks d u r i n g t h e week and t h e y e a r ending November 2, 1927> f o l l o w s : Increase or decrease Week during Year $132,000,000 124,300,000 $26,200,000 25,300,000 4- _ 4- 26,000,000 23,200,000 27,700,000 4,500,000 . . . 4- 33,500,000 + 2,500,000 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 i n d e b t e d n e s s . 4- 4- 4" 15,700,000 15,600,000 22,100,000 22,200,000 224,000,000 230,300,000 33,600,000 27,300,000 Federal reserve notes in c i r c u l a t i o n 4- 14,100,000 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 4- 300,000 10,600,000 13,700,000 Total r e s e r v e s 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.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 C. 4— — 4— 4- 4- - 4- 4- 72,100,000 296,700,000 133,300,000 158,400,000 38,300,000 44— 127,900,000 155,100,000 26,800,000 St. 5557a Released f o r p u b l i c a t i o n F r i d a y morning, November 4, 1 9 2 7 ; n o t e a r l i e r . RESOURCES AMD LIABILITIES OF THE TW3LVS FEIERAL RESERVE BAEK3 COMBUSTED. ( I n t h o u s a n d s of d o l l a r s ) Nov. 2.1Q27 O c t . 2b.1927 Nov. 3 , I 9 2 o 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 . 1,609*309 40,072 1,649,381 1,623,253 1,337,772 61,931 1,665,281 1,399,703 Gpld s e t t l e m e n t f u n d w i t h F. R. Board . . . •Gold and g o l d c e r t i f i c a t e s h e l d "by h a n k s . . 603,971 o77,9%5 R E S O U R C E S Total gold r e s e r v e s Reserves other than gold Total reserves 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 634,635 o^o.SSo 739,57% 618,186 2,931,797 42,957,052 134,356 135,793, 2,807,463 127,222 3,066,653 "*-3,092,845 2,934,685 ^ 55,657 46,957 208,723 170,498 6l,l37 . . dyo,L*d6 1^5,970 347,003 328,895 379,221 402,393 675,393 B i l l s bought i n open market 334,576 301,111 332,098 U. S. Government s e c u r i t i e s : o11 pfil g?S 47,211 136,416 118,719 Total b i l l s discounted 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 : i o ^ 14b,04b . 526,376 510,b30 §00 2^0. 1,240,773 1,214,759 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 b a n k s U n c o l l e c t e d items Bank p r e m i s e s All other resources . .• • TOTAL RESOURCES * • « > 565 715,124 59,774 1J) ,o^t ( i * : ^ i 123,o-Q 564 °So,277 59, ——^ r 302,346 2,500 1,312,842 650 695,976 60,051 13,961 5,152,393 *5,130,515 5,065,122 1,717,116 1,702,999 1,755,430 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 Member bank - r e s e r v e a c c o u n t Government 2,362,4-29 J ^ 5 1 , 8 7 0 12,186 :::::::::::::: 23,976 2,276,419 Tnt.a.1 Deferred a v a i l a b i l i t y items Capital paid i n n i ' a i • • _1LM. TOTAL LIABILITIES 5.152.393 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 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 2,207,325 32,932 74.4/, 1 -2hM * 5.130,515 OJ/ . 194,836 665,233 124,379 220,310 23,351 5,065,122 72.8% 1)0,344 EE SOURCES AKD LIABILITIES OF THE FEDERAL RESERVE BASKS OIJ NOVEMBER 2, 192?. RESOURCES ( I n thousands of d o l l a r s ) Total Boston Hew York Fhila. Cleve. S t . 5557b 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. Gold with F e d e r a l Reserve Agents 1,609,809 121,793 Gold redemption f u n d with U . S . T r e a s . >40,072 4,898 350,312 129,058 204,040 10,05% 5,786 2,925 l 6 , 6 6 2 158,045 257,979 2,715 1,573 3,605 38,556 1,499 51,632 1,579 49,683 2,4l9 31,901 200,148 1,687 1,335 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 1,649,881 126,691 s e t t l e m e n t fimd with F.R.Board 603,571 36,998 Culd and g o l d c e r t i f . h e l d by banks 677,945 37,987 360,363 134,844 206,965 261,784 19,654 36,542 423,580 28,332 39»402 19,377 159,618 261,584 28,506 9,586 103,065 21,869 7,815 55,919 140,055 21,268 10,681 53,211 11,074 7,111 52,102 25,24l 7,005 33,538 201,483 14,175 36,078 7,004 31,2*40 2,931,797 201,676 1,045,727 182,830 282,909 69,752 177,019 420,568 72,oo4 .71,396 84,348 54,767 268,801 T o t a l .sold r e s e r v e s p.:-.servos other than gold Total reserves 134,856 14,926 23,745 8,394 11,185 3,066,653 2 l 6 , 6 0 2 1,069,472 191,224 294,094 tTun—reserve 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 55,657 6,703 19,238 909 3,996 208,723 170,498 12,534 15,421 43,803 32,082 23,381 l4,756 T o tal b i l l s d i s c o u n t e d 379,221 27,955 75,885 B i l l s bought i n open market U. S. Government s e c u r i t i e s : 334,576 41,154 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 277,47#/ 13,641 102^98 6,353 l 4 6 , 0 4 6 \ 10,024 T ot 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 526,376 '^0,018 60Q - Ponds T ot al 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 p r e m i s e s All other resources TOTAL RESOURCES C. ' 1,240,773 565 715,124 59,774 13,847 99,127 36 78,323 3,946 106 5,l63 12,q4l iq,4i4 12,361 74,915 189,960 439,982 4.i64 5,465 84,365 75,560 89,813 2,209 3,7i4 6,357 3,270 850 29,898 13,521 3,850 , 7,4o6 16,553 5,657 21,082 35,^9 I8,l4i 13,398 7,184 350 1,758 6,597 10,449 38,137 43,4i9 23,959 26,739 53,550 20,582 2,108 101,649 22,202 19,966 47,283 19,235 22,024 35,223 15,954 9,655 l6j43 357i?6y 1 2,§60< 11,388 6,753 1,464 4,170 38,193 , 48,205 12,702 20,257 4,874 49,157 2,033 , , 6,845 2,842 4,l42 19,519 9,588 8,274 12,979 7,477 6,386 106,4o4 - 4i,952 .100 59,124 - 12,387 13,829 81,l64 - 37,381 = 283,938 102,391 122,509 213 47 52 176,553 63,013 61,300 16,276 1,749 7,119 5,281 165 1,109 83,629 25 60,465 2,564 ^8 42,601 172,907 20 67 25,o05 #4,956 2,901 8,667 1,407 1,357 62,837 21 34,840 3,957 767 = 8,364 8,734 63,131 277,535 4,809 2,746 . t . 24,494 14,682 17,046 10,665 39,176 11,279 „ 18,001 r r~ 8,707 6,201 9,462 6,291 8,555 5,695 11,822 26,842 500 37,183 34,507 = 45,585 = 48,685 15 lo,324 2,774 1,338 65,508 18 43,698 4,475 507 63,173 17 30,7 _ 1,827 ^70 93,468 34 39,333 3,519 SJ2_ ' 1,815 5,796 21,520 19,601 28,068 5,152,393 4o4,843 1,570,971 359,498 490,179 225,916 266,208 714,293 190,057 145,5*46 206,228 161,147 417,507 i L I A B I L I T I E S RESOURCE'S AND' LI ABILITIBS OF THE FEDERAL RESERVE BANKS Oil NOVEMBER. 2, 1927. ( i n thousands of d o l l a r s ) Total F-.R.notes i n a c t u a l c i r c u l a t i o n 1,717,116 Depo si. t s; l!eob.or t a n k - r e s e r v e account 2,362,429 Government 6,123 F o r e i g n "bank 5,5fZ Other d e p o s i t s 30, Total deposits 2,4O4,294 Deferred a v a i l a b i l i t y items 654,634 Capital paid in 131,388 Svjrp3.v.s 228,775 All other l i a b i l i t i e s 16,18b TOTAL LIABILITIES 5,152,393 Hesnrve r a t i o (pey c e n t ) 74.4 Coatii.gont 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 186,595 F„Ti. n^iboz on hand ( n o t e s r e e ' d from Agc.nt u ?s 33D t e s i n c i r c u l a t ion)404,179 Boston Hew York Phila. Cleve. 139,832 372,144 128,303 208,484 161,485 ,, 201 ^ 413 337 920,480 137,63k 122,551 162,436 74,935 9,428 17,606 606 4O4,S43 71.7 539 359 22,233 944,707 148,884 39,823 6l,6l4 3,799 1,570,971 81.2 28 2 3 - OSS 138,803 57,223 13,245 21,267 6^7 359,498 71.6 184,402 57,940 13,953 23-746 1,654 490,179 74.9 1,455 14,001 29,448 iso 52S 523 51,628 17,921 19,788 127,380 36,355 38,519 R i c h . A t l a n t a Chicago S t . L o u i s 72,752 156,005 235,654 53,016 st. 5556c Minn. Xans.Cy. D a l l a s San F r a n . 63,804 64,742 50,237 171,543 76,011 67,800 348,887 83,138 54,804 88,051 66,377 175,211 159 509 1,525 693 366 398 429 28b 226 759 237 204 33t~ **209 333 1.012 44l 150 261 3.A68 76,665 68,668 352,183 84,509 55,884 88,914 67,130 179,993 56,932 25,975 74,373 35,963 14,290 38,509 30,053 39,557 6,24s 5,I4O 17,377 5,323 3,010 4,231 4,276 9,334 12,19s 9,632 31,881 9,939 7,527 9,029 8,215 16,121 -Ilia 788 2,825 1.307 1.011 803 E3a 959 225,916 266,203 714,293 190,057 145,546 206,22s 161,147 417,507 50.1 84.5 74.8 61.3 63.1 58.5 53.5 78.9 I 9,707 7,654 25,761 8,027 5,600 6,907 6,534 13,067 n,529 30,552 51,366 6,485 5,420 9,34s 8,008 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL BE SERVE AGENTS F.R«Tiotes r e e ' d from C o m p t r o l l e r F,R n o t e s h e l d "by F, R. Agent F„R„notes i s s u e d t o F.R.Bank C o l l a t e r a l held as security f o r I .IL n o t e s i s s u e d t o F.R.Bank: Gold and gold c e r t i f i c a t e s Gold redemption f u n d Gold f u n d - F. R. Board E l i g i b l e paper Total c o l l a t e r a l 2,921,690 236,280 800,395 67,000 782,604 206,058 274,833 113,515 239.197 439,620 283,080 41,^30 27,830 29,234 49,709 79,121 87,518 111,020 72,112 279,752 52-6% 152.600 _ 19.620 18.234 36.SAO I3,2B7 58.500 2,121,295 169,280 499,524' 164,658 247,003 84,281 186,557 287,020 59,501 69,284 74,090 400,993 106,509 1,102,307 686,383 2,296,192 4o,ooo 15,046 18,117 215,150 7,800 12,267 1 7 , 3 1 3 4o,ooo 20,162 11,181 i4,o4o 1,616 6,228 2,979 2,756 2,365 3,823 4 , 0 8 8 1 9 , 7 7 8 115,000 117,377 150,000 133,700 255,000 23,000 37,000 45,860 10,500 1-40,370 164,182 ^ 1 . 0 2 4 61,083 69,592 28,629 91,633 25,355 21,097 28.230 2 3 . 6 2 0 4 7 , 3 2 4 514,494 130,082 265,123 86,254 136,674 349,017 63,911 72J29 77,913 60,521 247,972 35,300 17,493 69,000 69,109 190,902 58,845 221,252 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF IHBE&TSMBSS M D 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 i n d e b t e d n e s s Municipal w a r r a n t s C. 111:1 100 Within 15 days l 6 t o 30 days 301,645 139,453 20,295 64,157 31 t o SO days 6 l t o 90 days 17,054 66,033 100 91 days t o 6 months 5,727 2,761 146,046 Over 6 months 325
@FedFRASER