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STATE'tEHT FOE THE PRESS Released f o r p u b l i c a t i o n Friday morning, Oct. 21; not e a r l i e r . S t . 5539 F e d e r a l Reserve Board, October 20, 1927. COEDITION OF FEDERAL RFS3EVE BAHS 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 October 19, ms.de p u b l i c by t h e Federal Reserve Board, shows d e c l i n e s f o r the week of $l4,400,000 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 $17,000,000 i n Federal r e s e r v e note c i r c u l a t i o n , and i n c r e a s e s of $8,100,000 i n cash r e s e r v e s and of $59,^00,000 i n member bank r e s e r v e d e p o s i t s . Decreases of $12,700,000 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 and of $9,700,000 i n Government s e c u r i t i e s were p a r t l y o f f s e t by an i n c r e a s e of $8,100,000 i n 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. The F e d e r a l Reserve Bank of Mew York r e p o r t s a d e c l i n e f o r the week of $22,900,000 i n h o l d i n g s of discounted b i l l s , San Francisco a d e c l i n e of $17,500,000, Cleveland $11,300,000, Boston $6,300,000, and Minneapolis $4,5OO,000. The o t h e r r e s e r v e banks r e p o r t l a r g e r h o l d i n g s of d i s c o u n t e d b i l l s , the p r i n c i p a l i n c r e a s e s being $lc,100,000 a t the Chicago bank, $9,500,000 a t S t . Louis, $9,200,000 a t Kansas City, and $4,4-00,000 n t Richmond. Total h o l d ings of a c c e p t a n c e s purchased in open market i n c r e a s e d $8,100,000 and of Treasury c e r t i f i c a t e s $2,400,000, while h o l d i n g s of Treasury n o t e s d e c l i n e d $8,400,000 and of United S t a t e s bonds $3,700,000. The p r i n c i p a l changes in Federal 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 d e c l i n e s of $5,700,000 r e p o r t e d by the Cleveland bank, $5,300,000 by P h i l a d e l p h i a , and $3,200,000 by San F r a n c i s c o . 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 the r e s e r v e banks during t h e week and the year ending October 19, 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 + + 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 + + $157,200,000 149,600,000 i4,4oo,ooo 12,700,000 32,100,000 44,700,000 + - 12,200,000 169,000,000 65,200,000 103,800,000 - 10,300,000 8,100,000 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 . . 9,700,000 3,700,000 • 8,400,000 2,400,000 Federal r e s e r v e n o t e s i n c i r c u l a t i o n 17,000,000 Total 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 . . , 24,100,000 59,4oo,ooo 4,000,000 Year $3,100,000 4,000,000 . . . B i l l s bought i n open market during - + + - + - + + - 193,400,000 201,800,000 11,400,000 3,100,000 13,000,000 171,500,000 170,200,000 10,600,000 .Released f o r p u b l i c a t i o n .rriday orning, October 21, 1927; not e a r l i e r . St. 5539 a , ^ESCT!E0""3 i ' O LI . 3 1 LITI'^S OF TEC TT3LV3 FIDEEJJ. mSTWZ B,^ "S CO'T3I"T™3 (111 thousands of d o l l a r s ) S C" S C Oct. 19,1927 Oct. 12,1927 Oct. 20,1926 1, 632,507 40,528 1, 573,035 637,092 555,375 2, 975,505 136,475 111,920 3, 59,595 1,304,948 47,954 1,409,541 51,558 1,451,109 745,617 bl9,i4o S (JoId with f e d e r a l r e s e r v e a g e n t s . . . . 'Sold redesa t i o n f u n d with U.S.Treasury . Gold h e l d e x c l u s i v e l y a g a i n s t 7 . E . n o t e s C-old s e t t l e m e n t f u n d w i t h F. P.. Board . Gold and gold c e r t i f i c a t e s h o l d by banks Total g o l d r e s e r v e s Reserves o t h e r t h a n gold T o tal r e s e r v e s 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 discounted . . . B i l l s bought i n open market "J. 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 tal U.S. Government 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 . . . . Bank premises All o t h e r r e s o u r c e s TOTAL HE SOURCES l,652,902 551,099 557,497 2,971,496 132,393 3,103,894 50,323 2,825,856 128,928 2,954,794 54,926 290,035 296,587 252,503 192,753 237,496 430,249 274,351 253,075 124,710 120,508 258,780 133,114 118,235 500,393 510,129 820 53,287 136,145 117.532 306,954 2,500 224,821 192,776 417,597 620 i , 201,113 5S3 351,251 59,774 536,622 292,824 12,595 775,205 59,774 13,522 1,188,910 650 807,530 60,039 13,561 0 ,297,071 i 5,218,905 5,080,560 l, ,716,785 1,733,829 1,729,833 2,,353,711 8,808 12,383 24,19b 2,324,333 12,80b 5,359 62,454 2,213,488 19,416 6.855 17.797 2,,429,098 775,5' 4 5 131,275 226,775 15,593 2,404,967 704,844 131,171 228,775 15.319 2,257,556 727,440 124,002 220,310 21, 4i9 5:,297,071 5,218,905 5,080,560 1,215,559 '53 L I A B I L I T I E S F. E. 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 Deferred a v a i l a b i l i t y i t e m s -Ill 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. E. note l i a b i l i t i e s combined . . . 75.1'- 75-0% 74.1JS Contingent l i a b i l i t y on b i l l s purchased for f o r e i g n correspondents 198,510 201,956 42,853 • R'ilSOUxOES A2TD LIABILITIES OF THE "FiD^JLiL HE SERVE BAMS OH OCTOBER 19 , 1927. St. 5539b R 30 3 0 U R C r': S ( I n thousands of d o l l a r s ) Total Boston Hew York P h i l a . Clove. Rich. A t l a n t a Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold V i t h Federal Reserve u-ents 1,632,507 127,74] 331,081 134,399 203.679 22,716 164,431 273,285 37,867 53,651 48,435 38,592 191,628 Gold redemption f u n d with U . S . I r e a s . 40,528 6,025 12,959 2.799 4,111 2,517 1,352 2,771 1,581 1,021 2,523 1,321 1,546 Gold hold 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 1,673,035 133,768 344,040 137,198 207,790 25,233 165,783 276,056 39,450 59,672 50,958 39,913 193,174 Gold s e t t l e m e n t f u n d ./ith 7.2.Board 637,092 Gold and gold c e r t i f . h e l d by banks 665,378 l o t a l %old r e s e r v e s e s e r v o s o t i i r than gold Total r e s e r v e s "on-res rve cash B i l l s discounted: cured by J. 5.Govt, o b l i g a t i o n s Oth...r b i l l s d i s c o u n t e d 44,312 37,182 59,695 6,753 18,973 224,821 14,378 5^,953 4l,92Q 192,776 13,263 4i7,597 27,64i 282,503 30,366 Total T T . S . vovt. s e c u r i t i e s Other s e c u r i t i e s 500,393 620 27,592 1,201,113 563 85,599 36 83,294 3,946 c. 37,409 17,029 21,598 8,466 110,359 7.902 58,335 14,559 12,174 11,887 6,854 63,860 182,151 444,750 66,183 7 8 , 4 l 3 4,643 11,925 20,921 12,885 4,171 18,546 7,695 i4,837 7,04*5 45,766 31.546 77,199 61,795 270,486 5,202 8,193 9,195 3 , i l i , 9 S 0 229,766 1,055,030 207,184 298,028 t/, 25-57975" 12,511 1 2 4 , 7 1 ^ - , , 7,290 120,60S 7,791 /Ox ~ TJ some OS 28,6o6 2,975,505 215,262 1,030,244 198,744 286,4lS 136,475 i 4 , 5 q 4 24,786 8,44o n , 6 l 0 T otal b i l l s discount-id B i l l s bought i n open mar ket TJ. S. - Gov .rniifieat s - c u r i t i s: Bonds Treasury n o t , 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 b i l l s and s e c u r i t i e s "hi.; from f o r e i g n banks U n c o l l e c t e d ite-es Bank premises 11 o t h e r r e s o u r c e s 277,172 32,940 4 i , 2 1 9 409,032 851,251 59,774 12,695 120 1,092 68,503 194,076 465,671 79,0o8 82,584 82,401 69,988 279,681 4,772 3,671 3,726 8,056 3,591 1,153 2,592 2,209 3,102 24 , 537 - 24,898 l4,026 I8,4p8 1 2,224 5,096 37,768 17,782 21,151 20,033 13,36l 10,478 96,873 38,563 43,306 33,375 102,843 43,400 23,636 29,990 12,601 18,757 38,053 208 11,727 5,660 15,590 1,799 9,980 2,096 26,26l 25,129 51,129 28,260 2,007 21,707 7,756 4 i , 8 5 1 2 , 4 l 4 30,533 3,700 11,652 10,656 13,504 7,424 14,361 3 3 , 3 ^ 7 6,196 6,328 44,098 18,442 11,838 20,053 18,188 26,271 9,689 lb,4^ 2,64i 3,559 i 4 , 5 9 8 11,349 7,580 8,0lS 7,326 9,483 14,122 9,271 3,6l8 3,453 15,887 7,109 4,812 7,763 6,713 10,049 102,026 - 36,172 57,203 12,455 13,370 74,583 36,900 , 24,230 35,832 32,227 45,803 301,742 212 210,005 89,436 119,266 47 51 16,276 4,175 1QQ 70,132 1,749 145 - - - 83,853 4o,9%3 156,245 25 20 67 35,^17 103,108 2,901 8,667 78,621 7i,4o6 7,119 1,082 - 2,564 475 1,46.2 1,065 - 520 68,8oO 21 4l,754 3,957 772 - 38,409 68,195 53,487 95,078 15 19,93^ 2,774 1,459 18 49,317 17 34 34,702 52,258 4,475 1,227 3,519 583 474 877 5,297,071 4io,n4 1,606,419 369,985 508,939 230,530 278,515 742,879 196,023 146,333 20s,osi 162,704 434,549 RESOURCES AHD irXBILITIES OF THE rEO-IRAL RESERVE BAHKS OH OCTOBER 19, IS27. St. 3539c ( I n thousands of d o l l a r s ) Clove. Rich. Vtlanta Chicago St.Louis Minn* Kans.Cy. Dallas San Fran. Total Boston Hew York P h i l a . f . 5 . n o t e s in actual circulation 1,716,785 1^3,290 363,236 131,143 210,379 70,800 160,551 239,276 51,225 62,467 64,308 49,001 171,109 Dooor.it:-: 2,383,711 156,885 936,769 137,702 126,687 72,555 66,822 360,274 84,092 53,629 84,126 63,673 180,497 "ember "ban : - r e s e r v e account 8,208 166 620 4i6 982 1,086 916 1,433 367 422 , 96 Government 967 1,337 1,444 314 4,817 1,005 1,109 544 429 450 12,323 785 Foreign ban' 337 366 733 164 45 4,368 24,196 513 15,913 245 988 145 Cther cle ->osits 143 1,127 237 303 Total d e p o s i t s 2,429-, 09S 158,349 958,937 139,319 129,206 73,340 68,361 363,261 86,182 55,096 35,297 65 ,066 186,684 Deferred, a v a i l a b i l i t y i t e m s 775,545 80,917 179,153 64,460 70,036 66,918 4,o64 88,371 44,057 17,218 44,442 35,544 50,360 4,220 C a p i t a l paid i n 4,277 131,275 9,428 9,321 39,813 13,243 13,933 6,253 5 , i 4 o 17.3&S 5,323 3 , o i i Sur oln 3 8,215 16,121 61,614 21,267 23,746 12,19s 9,632 31,881 9,939 228,775- 17,606 9,029 7,527 1.0l4 785 DOI 11 o t h e r l i a b i l i t i e s 2.782 1.021 3.661 553 1.634 1,297 15,593 524 954 767 j01" -L LIABILITIES 5,297,071 4i0,il4 1,606,419 369,935 503,939 230,530 278,515 742,879 198,023 146,333 208,081 162,704 434,549 6l.4 78.2 47.5 84.8 79.8 76.6 74.6 75-1 76.2 clor* e r a t i o ( <er c e n t ) 77.3 57.5 70.2 55.1 Gontia^ent l i a b i l i t y on b i l l s purc b - s e l f o r f o r e i g n c o r r e s p o n d e n t s 198,810 l4„962 6,982 13,965 7,381 8,179 27,530 54,575 19,152 21,147 10,374 8,57s 5,985 . , n c t e s on hand ( n o t e s r e e ' d from "r,.... ,cnt l e s s n o t e s i n circxilation)40'5* 227 28,74o 131,891 34,856 38,863 11,277 31,182 50,143 6,487 4,816 8,393 7,696 50,883 ?.'] ) VR.UL RBSl'EYE ¥0TE ACCOUNTS OF F^HSRXL R5S- rcVE \G6ETS 2,920,217 242,230 . not*: r e e ' d from Comptroller 778,207 205,399 278,272 110,171 242,683 438,319 76,772 87,817 110,551 69,304 280,492 19,060 20,534 37,850 12.607 % . % 0 . " . n o t e s h e l d by F. R. Vgent 798,205 70,200 283,080 39,400 29,030 28,094 50,950 l 4 s , ' LI X B I L I T I . . . n o t e s i s s u e d t o F.R.Bank C o l l a t e r a l h o l d as s e c u r i t y f o r .'"..notes i s s u e d t o F.R.Bank: ••old and ; .old c e r t i f i c a t e s Gold reumr.ition f u n d Gold f u n d - F. R. Board lij-'ible i a ier Total c o l l a t e r a l " i l l s discouitod " i l l c boir,.:ht i n o?en market C e r t i f i c a t e s of indebtedness ' for i".aici .>al v r r a n t a , Digitized FRASER 2,122,012 172,030 406,691 35,300 101,802 13,443 1,124,014 79,000 669,736 53,007 2,302,293 185,750 Total 417,597 282,503 120,603 120 495,127 165,999 249,242 32,077 191,733 289r4i9 215,150 20,931 95,000 173,347 509,428 - 11,522 122,877 46,999 121,39s 57,712 67,283 72,701 56,697 221,992 20,444 18,117 8,100 13,679 2,272 5,714 1,285 3,767 i4o,6oo 272,000 26,000 150,000 60,320 69,050 27,421 81,595 31,343 263,999 91,766 191,852 354,820 69,710 40,000 12,267 17,313 40,000 1,334 , 2 , 5 7 5 3,779 20,451 45,000 44,£60 17,500 131,177 13,511 32,255 21,244 49,iq4 72,162 80,690 59,336 240,822 '.'•VTURITY DI STRIE'TTIO'. n BILLS, CBBTIFICmS OF I^D^BT^D.^SS ,lSD "UEICIPIL ;. VcS.UTo Over o months bl to 90 days 91 days to 31 t o 60 days Vithin 15 days l o to 30 days 6 months 205 13,728 20,926 344,124 4,035 p 9 ? Q,520 - -m 141,939 57,474 51,; 2,256 1,845 118,763 100 20
@FedFRASER