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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, Oct, 2?; not e a r l i e r STATEMENT FOR THE PRESS St.5130 F e d e r a l Reserve Board October 21, 1926. COEDMOSF OF THE FEEERAL RESERVE BANKS The c o n s o l i d a t e d s-ateraenb 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 October 20, made p u b l i c "07 ihe F e d e r a l Reserve Board, shows a r e d u c t i o n of $112,200,000 i n b i l l a n i « e c o r i t y h o l d i n g s , more t h a n o f f s e t t i n g the i n c r e a s e of $100,20C;COO r e p o r t e d t h e p r e c e d i n g week, t o g e t h e r w i t h d e c r e a s e s of $20,500 s 009 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 and $16,700,000 i n d e p o s i t s , and i n c r e a s e s of $9,600,000 iri cash r e s e r v e s and $7,700,000 i n n o n - r e s e r v e cash. Ho)dings cf d i s c o u n t e d b i l l s were $117,300,000 "below the p r e c e d i n g w e e k ' s t o t a l , while h o l d i n g s of a c c e p t a n c e s purchased i n open market i n c r e a s e d $1,500,000 and h o l d i n g s of Government s e c u r i t i e s d e c l i n e d $1,200,000. Discount h o l d i n g s of t h e New York r e s e r v e bank d e c l i n e d $95,200,000, of Boston $23,800,000, of San F r a n c i s c o $ 8 , 7 0 0 ; 0 0 0 , and of P h i l a d e l p h i a $5,600,000. Discount h o l d i n g s of t h e A t l a n t a bank i n c r e a s e d $3,900,000 and of S t . Louis $6,500,000. A d e c l i n e of $1.1,200,000 i n open-market acceptance h o l d i n g s a t tlie Eew York bank was more t h a n o f f s e t "by i n c r e a s e s a t most of t h e o t h e r r e serve banks, p r i n c i p a l l y A t l a n t a and San F r a n c i s c o , whose h o l d i n g s i n c r e a s e d $3,200,000 and $3,300,000, r e s p e c t i v e l y . Most of t h e F e d e r a l r e s e r v e hanks r e p o r t a s m a l l e r volume of F e d e r a l 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 t h a n a week ago, the p r i n c i p a l d e c l i n e s "being: P h i l a d e l p h i a $3,300,000, New York $8,000,000 and Cleveland $7,800,000. 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 banks d u r i n g the week and the y e a r ending October 20, 1926, f o l l o w s : ' I n c r e a s e or d e c r e a s e d u r i n g Week Total reserves 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. 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 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 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 in c i r c u l a t i o n . 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 W. . . . . . . . Year +$9,600,000 + 7,000,000 + $65,500,000 + 47,500,000 -118,200,000 -117,300,000 - 49,200,000 - 68,100,000 - 40,600,000 16,300,000 3,100,000 13,200,000 + 1,500,000 - 400,000 + - 1,200,000 500,000 600,000 1,300,000 - 16,800,000 2,600,000 - 112,200,000 + 98,000,000 - 26,500,000 + 34,900,000 . - 16,700,000 - 3,600,000 - 11,100,000 + - 26,400,000 7,100,000 26,700,000 Released f o r p u b l i c a t i o n F r i d a y .TOrning, Oct. 22, . not earlier. S t . 5130s RESOURCES AMD LIABILITIES OF THE TwELVE FEDERAL RESERVE BAMS COMBINE ( I n thousands of d o l l a r s ) RESOURCES Gold with Federal re serve agents . . . . Gold redemption fund w i t h u i s . Tre .usury' Gold held e x c l u s i v e l y a g a i n s t F.R.not.as Gold settlement fund w i t h F. R. Board Gold and gold c e r t i f i c a t e s h e l d by banks Oct, 20, 192b Oct. 13. 1926 Oct. 21.11,25 1,409,541 51,568 1,329,143 57,044 1,399,178 54,143 1,461,109 1,326,187 1,453,321 £17,152 OL5,583 701.960 623,103 7^5, 619,140 Total gold r e s e r v e s Reserves o t h e r t h a n ;old 2,S£5,8?fr" 128,928 Total r e s e r v e s Non-reserve cash Bills discounted: Sec. by U. S. Government o b l i g a t i o n s . Other b i l l s discounted 2,954,g0^- Total b i l l s discounted B i l l s bought in 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 . . . . 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 Foreign loans on gold 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 Uncollected items , Bank premises All o t h e r ' r e s o u r c e s . . . . TOTAL RESOURCES . . . . 2,218,922 2,778,384 126,305 110,912 2,945,227 2,889 , 296 47,124 53,734 296,587 339,205 ) 6 4 , 696 293,172 309,789 586,622 703,901 602.961 292,824 291,312 293,259 53,803 _lil!522 135,516 118,849 55,907 248,366 19,532 306,964 308,168 323,805 2,500 3,700 3,220 54,926 2Q0,035 53,287 136,145 6,300 1,188,910 L,3V7,OSL 650 807,6 60,039 718 D4O 747,408 60,014 13,561 13,789 782,668 61,552 17,751 5,080,56O 5,121,421 5,035,186 1,729,833 1,736,299 1,694,948 2,213,488 19,416 6,855 17,797 2,217,091 30,560 5,894 2,206,347 20,681 46,132 11,424 20,043 2,257,556 2,274,226 2,283,946 727,440 124,002 725,275 123,901 705,954 116,629 21,410 217,837 15,872 5,121,421 5,035,186 1,229,545 L I A B I L I T I E S F. R. notes i n a c t u a l c i r c u l a t i o n . . Deposits: 1 Member bank - r e s e r v e account Government 1 Foreign bank f Other d e p o s i t s ( l92b Total d e p o s i t s Deferred a v a i l a b i l i t y items Capital paid in Surplus All other l i a b i l i t i e s . . . TOTAL LIABILITIES 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 C. 220,310 21,419 5,030,560 220,310 74.1-1 73.1$ 72.6% "2,853 43,981 36,79 6 RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON OCTOBER 20, 1926 (In thousands of d o l l a r s ) Boston New York P h i l a . CIeve. Rich. Atlanta Chicago S t . L o u i s Minn. Kans.Cy. Gold w i t h Federal Reserve Agents 135,640 Sold redemption fund w i t h U.S.Treas. 4 , 4 5 2 st. 5130b RESOURCES 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 140,0)2 Gold s e t t l e m e n t fund w i t h F.R. Board 74,671 Gold and gold c e r t i f . held by banks 2 9 , 8 4 0 Total gold r e s e r v e s Reserves o t n e r than gold Total r e s e r v e s TOTAL RESOURCES c. 6$o° 41,370 30.776 54,594 44,88b 27,349 11,lb8 26,546 138,023 20,904 4,707 62,494 ' 14.Oqq 256,293 1 , 0 3 7 , 1 6 8 1 78,04 6 2 75,240 5,285 17,161 1,092 4 , 617 90,709 162,267 387,507 78,595 76,086 29,809 109,089 42,401 47,797 25,121 1,322 75,139 26,775 6,221 2,734 15,307 32,307 13,210 407,141 1,475,536 347,430 73,885 7,409 1,013 70,061 2,364 306 67,860 3,373 50,706 10,938 7,124 68,768 2,896 56,871 32,516 6,194 31,892 183,382 1,461,109 18,8?5r 37,058 745,626 10,721 30,833 619,140 95,561 4,933 61,483x251,273 2 , 8 2 5 , 8 7 5 # 8,104 6,620 128,928 71,664 100,564 798 2,112 34,432 42,027 12,665 14,547 # , 5 % 257,893 2,954,^03-79V 1,727)) 3,212 4,344 20,337 16,552 33,732 34,690 205,574 94,846 136,604 650 1,998 316 9,071 49,293 1,494 12,105 71,532 3,744 53,950 22,080 13,910 287 20,553 21,464 19,928 10,079 47,614 1,121 23,675 29,087 195,653 16,740 2,590 4,068 124 40,681 17,988 54,084 65,285 Vifs 383,100 9 8 , 8 5 3 165,450 45,971 120,935 164,910 18,947 262,78 2 366,298 84,488 152,188 3tb5,427 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 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 15 1 ill 2 4 4 , 6 0 3 1 , 0 1 2 , 1 8 0 170,999 2 6 4 , 9 3 0 11,690 24,988 7,047 1 0 , 3 1 0 Non-reserve cash B i l l s discounted: Secured by U.S. Govt, o b l i g a t i o n s 1 5 , 7 8 2 Otner b i l l s d i s c o u n t e d 3,162 Total b i l l s discounted 23,944 B i l l s bought i n open market 31,732 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 indebtedness ^otal b i l l s and s e c u r i t i e s IS % % 44,157 12,662 13,542 16,333 13,190 17,529 14,694 27,976 56,200 1,800 15,063 10,191 4,453 11,312 8,286 10,181 21,941 54,926 290,035 296,587 586,622 292,824 53,287 136,145 117,532 19,610 24,436 27,999 92,479 173,788 306,964 2,500 67,504 50,788 59,070 52,045 123,044 1,188,910 34,606 2,957 41,257 4,111 17,192 46,503 4,668 32,863- 50,472 97,561 7,933 - r 71 - 650 807,673: 2,943 60,039 1,79 3 3,455 838 1,284 586 2,683 559 373 2,889 13,561 498,768 234,057 296,891 677,144 184,691 146,06s 213,476 158,393 440,965 5,080,560 RES0Ufl L I A.'B I L I T I E S F.R. notes i n a c t u a l c i r c u l a t i o n Deposits: Memoer bank - r e s e r v e account Government F o r e i g n bank Otaer d e p o s i t s Total d e p o s i t s 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 o t h e r l i a b i l i t i e s C£S AKr Boston 151,932 153,257 2,233 479 147 15b,116 72,276 8,800 17,020 997 LIABILITIES OF THE FEDERAL RS£5n7Z BANKS OH OCTOBER 20, i c 2 6 S t . 5130c ( I n thousands of d o l l a r s ) ' ^ New York P h i l a. Cleve. Rich. A t l a n t a Chicago S t . L o u i s 373,791 113,220 203,207 79,644 174,762 214,274 46,017 Minn. Kans.Cy. D a l l a s San Fran. Total 65,532 67,408 50,034 189,412 1 , 7 2 9 , 8 3 3 825,680 133,797 4,593 401 2,279 599 6,131 97 840,983 134,894 161,210 65,295 35,756 12,527 59,964 20,464 3,832 1,030 TOTAL LIABILITIES Reserve r a t i o (per c e n t ) T " ^ ' u 5 3 6 * 71.8 £ ? Contingent 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 3,310 11,223 4,138 F . R , n o t e s on hand ( n o t e s r e c ' d from F.R.Agent l e s s n o t e s i n c i r c u l a t i o n ) 3 6 , 5 9 5 103,860 38,002 F.R. notes r e c ' d f r o m Comptroller F.R. n o t e s h e l d by F. R. Agent 235,727 F.R. n o t e s issued t o F.R. Bank C o l l a t e r a l held a s s e c u r i t y f o r V . R . n o t e s i s s u e d to F.R.Bank: Gold and gold c e r t i f i c a t e s Gold redemption fund Gold fund - F.R. Board E l i g i b l e paper 185,527 Total c o l l a t e r a l 35,300 16,340 84,000 55,676 191.316 68,060 72,674 323,497 80,927 51,781 89,451 58,534 799 2,082 2,072 1,393 1,207 l 1,074 334 252 863 271 202 246 221 98 100 1,022 280 201 1,189 34 69,311 75,108 327,454 82,871 53,391 90,887 59,363 *>5,682 31,742 35,021 39,639 15,207 40,849 34,946 6,106 5,037 16,695 5,334 3,091 4,189 4,304 11,919 8,700 30,613 9,570 7,501 8,979 7,615 1,395 1,542 3,087 1,260 1,346 1,164 1,031 69.8 4,661 64.9 2,309 1,742 71.5 5,96s 63.5 1,873 1,394 1,699 167,527 2,213,488 2,117 19,416 435 6,855 5,569 17,797 175,64s 2,257,556 49,379 727,440 8,604 124,002 15,071 220,310 2,851 21,419 5,080,560 70.6 74.1 1,525 3,006 42,853 24,945 11,660 25,765 34,458 4,794 5,631 7,19s 4,539 FOTRAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 40,219 344,266 769,771 190,222 275,592 116,539 267,497 450,649 72,731 56,886 113,091 69,600 225,971 2,937,876 292,120 39,000 22,535 63,970 201,917 21,920 15,723 14,127 863,777 477,651 151,222 228,152 94,304 203,527 24c,732 50,811 55,473 229,631 2,074,099 165,695 24,027 8,780 12,319 7,945 13,507 19,156 2,530 5,458 2,995 1,406 913 2,775 4,776 181,000 81,777 140,000 12,500 97,000 155,645 9,300 6,000 121,036 65,330 100,590 59,332 90,560 125.906 47,650 34,500 45,860 25,630 30,295 30,502 8,445 28,805 494,363 155,55a 2 6 . * , 1 0 , . l b , Within 15 days B i l l s di sc ounted 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 188,283 1,144 674 929 191,030 66,194 13,559 22,594 1,884 447,760 cl,Cd2 14,237 2*.,*, 66,531 10,000 306,426 14,731 96,715 1 55,516 1,006,395 54,005 g37,644 74.550 £2,530 6 0 , 7 ^ : 5 5 2 2 , ^ 7 : 1 6 5 ;4ATLRITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS 16 t o 30 days 31 to 60 days 61 to 90 days SO- days t o Over 6 months S:S? 3:58 44,136 % % " H « - 73,394 Total 556,622 292,824 U7,532
@FedFRASER