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STATEMENT FOE. THE H&SS St. 5939 Federal Reserve Board, October 11, 1928. Released f o r p u b l i c a t i o n Friday morning, Oct. 12; not e a r l i e r . COHDITIOIT OF FEDERAL ieS^RVB SASTKS The consolidated statement of condition of the f e d e r a l reserve banks on October 10, made p u b l i c by the Federal Reserve Board, shows decreases f o r the week of $32,500,000 i n holdings of discounted, "bills ahd of $3>900>000 i n TJ. S. s e c u r i t i e s and an i n c r e a s e df $21,800,000 in b i l l s botkght i n open market* Member bank reserve d e p o s i t s declined $36,400,000 and Government d e p o s i t s $29,400,000, while Federal reserve note c i r c u l a t i o n increased &2l,600,000 and cash r e s e r v e s $1,500,000. Total "bills and s e c u r i t i e s were $14,500,000 "below the amount held on October 3» The p r i n c i p a l changes i n holdings of discounted b i l l s were decreases of $16,000,000 at the Federal Reserve Bank of Hew York, $13,600,000 at Chicago, $12,200,000 at St. Louis and $7,000,000 at Atlanta, and i n c r e a s e s of $10,100,000 at Boston and $7,600,000 at Cleveland. The System* s holdings of "bills bought i n open market increased $21,800,000 while holdings of Treasury notes declined $4,100,000 and holdings of U. S. "bonds and c e r t i f i c a t e s of i n debtedness showed nominal i n c r e a s e s . Federal reserve note c i r c u l a t i o n increased $21,600,000, a l l of the Federal reserve "banks except Atlanta and San Francisco r e p o r t i n g a l a r g e r volume of Federal reserve note c i r c u l a t i o n than the week "before. The p r i n c i p a l i n c r e a s e s were $6,100,000 at the Federal Reserve Bank of Cleveland, $3,700,000 at P h i l a d e l p h i a , $3,300,000 a t Richmond and $2,900,000 at Hew York. 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 serve banks during t h e week and the year ending October 10, 1928, follows: Increase or decrease Week B i l l s discounted, t o t a l B i l l s bought i n open market . . . . . 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 . . Federal reserve notes i n c i r c u l a t i o n . ! Total deposits . . . . Members' reserve deposits Year + $1,500,000 + 8,100,000 Gold r e s e r v e s during - $351,000,000 346,800,000 - 14,600,000 - 32,500,000 - 6,700,000 - 25,800,000 + + + 563,200,000 4i6,600,000 146,600,000 + 21,800,000 21,800,000 + + 57,400,000 — 283,400,000 - 3,900,000 + 100,000 - + 4,100,000 100,000 + 21,600,000 - 68,200,000 - 36,400,000 1 - 29, to0,000 + - 340,900,000 205,500,000 46,800,000 - 31,100,000 - 8,600,000 — - - 59,200,000 11,100,000 9,600,000 Released f o r p u b l i c a t i o n Friday morning, October 12,1928; not e a r l i e r . St. 593% HE SOURCES AND LIABILITIES OF THE TWELY3 FEIERAL RESERVE BASKS GO'EINED ( I n thousands of d o l l a r s ) Oct. 10.1928 Oct. "5.1928 Oct. 12.1927 Gold with Federal r e s e r v e agents . . . . . Gold redemption f u n d with U.S.Treasury . . 1,198,$68 69,439 1,178,312 69,947 1,6O4,948 4-7,954 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 . 1,268,007 682,992 673,726 1,248,259 688,054 680,322 1,652,902 661,099 657.497 Total gold r e s e r v e s Reserves o t h e r than gold 2,624,725 128,213 2,616,635 134,766 2,971,498 132,396 2,752,938 2,751,401 3,103,894 . . . 50,266 53,801 50,328 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 discounted . . . . . . . . 609,355 384,04-7 6l6,087 409,831 192,753 237,4§6 993,402 1,025,918- 430,249 331,768 309,976 274,361 . . . . 53,271 86,281 87,160 53,149 90,363 87,092 258,780 133,114 118,235 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 226,712 4,580 230,6o4 4,580 510,129 820 1,556,462 574 716,985 60,368 9,135 1,571,078 574 780,349 60,318 8,909 1,215,559 563 775,265 59,774 13,522 5,146,728 5,226,430 5,218,905 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 bank - r e s e r v e account . . . . Government . . . Foreign bank . . . . . . Other d e p o s i t s . . 1,725,212 1,703,630 1,733,829 2,313,195 3,194 5,266 24,101 2,349,553 32,569 5,942 25,926 2,324,338 12,806 3>3®9 62,454 Total d e p o s i t s . . . . . . . Deferred a v a i l a b i l i t y i t e m s . . . . . Capital paid i n Surplus . . . . . . . All o t h e r l i a b i l i t i e s , 2,345,756 2,4-13,990 2,4o4,967 666,067 145,588 233,319 30,786 700,191 145,658 233,319 29,642 704,844 131,171 228,775 15,319 5,146,728 5,226,430 5,218,905 RESOURCES Total r e s e r v e s Eon-reserve cash . ..... . . . . . . . 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 i n d e b t e d n e s 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 All other r e s o u r c e s . . TOTAL RESOURCES L I A B I L I T I E S TOTAL L I A B I L I T I E S Ratio 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. note 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 . . . . Digitized forC. FRASER b7»6$ 66.8$ 75*0% 268,863 267,635 201,95° RESOURCES AM) LIABILITIES OF THE FEDERAL'' RESERVE BANKS OF OCTOBER 10, 1928. RE S O U R C E S ( i n thousands of d o l l a r s ) S t . 5939b T o t a l Boston New York P h i l a . CIeve. Rich. A t l a n t a Chicago S t . L o u i s 'linn. Kans.Cy. D a l l a s San Fran. Go31 T/ith F e d e r a l Reserve Agents 1,198,568 122,216 17^:932 79>669 152,601 31,369 64,770 254,136 29,468 45,533 48,531 25,263 170,080 S o l i redemption f u n d with U . S . T r e a s . 69,4-39 8,689 15;115 9,491 4,430 2,505 4,634 5,601 5,701 3,686 3,928 2,283 3,376 1 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 1,268,007 130,905 C-old s e t t l e m e n t f u n d with F.R.Board 682,99 2 52,231 Gold and gold c e r t i f . h e l d by hanks 673,726 33,618 190,047 162,531 435,501 89,160 157,031 28,642 69,451 28,651 45,751 33,874 28,154 7,567 69,404 259,737 11,245 177,06l 4,000 59,331 35,169 27,466 9.388 49,219 25,603 5,031 52,459 34,l48 6,734 , 27,546 173.4?6 25,547 40,913 7,281 30,873. T o t a l gold r e s e r v e s Reserves o t h e r t h a n g o l d 2,624,725 216,754 128,213 13.925 788,079 146,453 272,233 21,055 7,188 11,233 69,595 7,868 84,649 496,129 13,559 17,052 72,023 15,200 79,853 2,087 93.341 5>l67 60,374 245,242 5»069 8,810 Total reserves lion-reserve cash 2,752,933 230,679 50,266 5,407 809,134 153,641 283,466 15,403 1,218 2,575 77,463 3,335 98,208 513,181 3,569 7,801 87,223 3,110 81,940 98,508 894- 1,829 65,443 254,052 l,94o 3,185 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 d i s c o u n t e d 609,355 * 1 26,453 222,920 -\ 8 6 , l 4 6— 44,987 < — — 18,451 23,940 81,130 — —»/" —-1 ^ —. —» —». 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 i n d e b t e d n e s s 993,402 331.76s 57,133 29,821 333,004 106,369 100,510 17,277 76,602 47,637 15,961 53,271 86,281 87,160 702 1,271 4,556 1,384 12,431 32,331 535 8,589 ll,46i 548 26,531 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 226,712 4.530 6,529 - 46,196 1.050 20,635 30 1,556,462 574 716,985 60,368 9,135 93,483 37 65,351 3,824 1 57 T o t a l b i l l s and s e c u r i t i e s Dae from f o r e i g n banks Uncollected i t e m s Bank premises All other resources TOTAL RESOURCES 30,489 77,546 109,454 17,667 23,271 21,777 «•» \ if -r 9,115 r- z-\ r 1 1 - , , 8,520 14,687 51.229 •» L L_ z \ l l Cfi T u A Ol 1 IlC? 25,124 19,965 22,847 18,583 72,377 42,557 4,519 3,703 2,279 7,755 4o 11,061 5,076 8,563 3,203 4,076 16,172 % 45,240 1,238 15,069 14,429 970 19,927 6,266 1,153 44i 1,574 3,620 2,160 3,069 9,256 7,125 10,340 3.004 33,345 - 3,l6s - 6,750 - 32,252 - 20,469 - 10,501 500 14,853 ~ 15,842 3,000 66,766 101,963 164,977 25 21 69 58,532 24,523 88,713 3,538 2,352 3,720 467 1.761 l,ll4 66,947 21 35,842 3,930 545 4O,499 l4 19,583 2,202 846 59,9.42 lo 47,601 4,308 403 60,272 131,106 17 35 30,786 41,996 1,934 3,82o 558 526 485,760 144,311 l 4 o , 4 3 6 213 47 52 134,722 55,651 63,685 16,675 1,751 6,806 1,126 227 1,500 2,022 5,071 5,146,723 393,938 1,513,038 356,846 498,320 210,126 232,397 784,575 197,618 145,97s 2 1 2 , 6 l 4 160,950 434,828 L I A B I L I T I E S . iuubdUBUBS MB LIABILITIES' OF THE" FEDERAL"ESSBKmSAff&S-Ga-OeTOBER; 10, 192S. St. 5939c ( i n thousands of d o l l a r s ) Total Boston Hew York F h i l a . Cleve. Rich. Atlanta Chicago St.Louis 'linn. Kans.Cy. Dallas San Fran. 1,725,212 152,599 342,420 131,714 206,452 66,809 128,227 296,02s 59,05s 61,848 63,723 45,S4I 170,493 F.R.notes i n a c t u a l c i r c u l a t i o n Deposits: Member 'bank - reserve account 2,313,195 Government 3,194 5,266 Foreign "bank 24,101 Other d e p o s i t s Total deposits 2,345,756 666,067 Deferred a v a i l a b i l i t y items Capital paid i n 145,588 Surplus 233,319 30,786 All other l i a b i l i t i e s 5,146,728 TOTAL LIABILITIES Reserve r a t i o (per cent) 67.6 Contingent l i a b i l i t y on b i l l s p u r 268,863 chased f o r f o r e i g n correspondents F.R.notes on hand (notes r e c ' d f r o i i JLR.Agent l e s s notes i n c i r c u l a t i o n ) 375,039 F.R.notes r e c ' d from Comptroller F.R.notes h e l d by F. R. Agents F . 3 . n o t e s i s s u e d 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 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 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 C.FRASER Digitized for 151,299 105 494 37S 152,876 63,748 10,057 17,893 1,765 398,938 75-5 19.913 27,254 2,872,292 243,663 772,04l 63,810 2,100,251 179,853 346,568 35,300 92,755 13,916 759.245 1,270,638 73,000 86,934 2,469,206 209,150 878,495 134,056 188,557 970 114 85 53S 626 685 7,21s 446 1,527 887,221 135,242 190,854 161,678 51,426 59,669 49,128 14,578 14,310 63,007 21,662 24,021 9.584 2,224 3,014 1,513,033 356,846 498,320 65.8 57.6 71.3 67,314 122 336 566 68,338 55,008 6,102 12,324 1,545 210,126 57-3 63,377 521 277 423 65,098 22,433 5,230 9,996 1,913 232,897 50.8 343,673 82,927 61 io4 283 915 3,l4o 1 , 0 7 4 352,832 84,345 79,834 36,975 18,362 5,399 32,778 10,397 4.741 1,444 784,575 197,618 79.1 60.8 54,176 391 173 84l 90,198 69,384 133,639 67 537 117 230 467 237 1,884 104 6,500 55,586 92,386 70,255 190,723 17,223 42,224 31,231 44,618 3,oi4 4,200 4,312 ia*896 7,039 9,046 8,527 iSitisT 1,268 1.035 784 1,*W 145,978 212,6i4 160,950 434,828 69.8 63.1 56.4 70.3 25,224 27,613 13,541 11,152 36,906 11,417 7,169 9,558 9,293 109,347 25,755 26,4il 15,939 30,882 45,547 13,465 6,452 8,365 7,391 57,731 78,226 FEDERAL•RESERVE BOTE ACCOUHT S OF FEDERAL RESERVE AGENTS 18,851 707,607 193,669 265,093 102,907 221,359 458,245 89,493 85,599 102,668 75,365 326,624 255,840 36,200 32,230 20,159 62,250 116,670 16,970 17,299 30.580 21,633 98,400 451,767 157,469 232,863 82,748 159,109 341,575 72,523 68,300 72,088 53,732 228,224" 153,408 50,000 6,690 27,100 7,600 14,167 17,303 35»ooo 12,601 16,524 8,692 5,679 7,670 1,136 1,868 3,366 3,671 4,46o 13,172 5,000 70,977 90,000 19.000 30,000 253,000 20,000 28,000 44,860 3,500 121,90s 419,156 103,676 103,096 56.396 95,162 132.548 46,381 27.284 44,982 41.339 113.684 594,088 183,345 255,697 87,765 159,932 386,684 75,849 72,817 93,513 66,602 283,764 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS 91 days to 31 to 60 days 6 l to 90 days l 6 to 30 days Over 6 months Within 15 days Total 0 months 860,385 54.174 35,788 11.419 31,357 993,402 279 73,626 107,588 114,237 30,579 331,768 5,738 32,805 4,275 87,160 48,749 1,331 30 30
@FedFRASER