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statement TOE THE PRESS St. 55% Federal Reserve Board, October 27, 1927. Released f o r p u b l i c a t i o n Friday morning, Oct. 28; not e a r l i e r . CONDIIIOH OF FEDERAL RESERVE BANKS The consolidated statement of condition b£ the Federal reserve banks on October 26, made public by the Federal Reserve Board, shows an increase f o r the week of $13,600,000 i n b i l l and s e c u r i t y holdings, and decreases of $31,800,000 i n member bank reserve d e p o s i t s , $13,800,000 i n Federal reserve note c i r c u l a t i o n , and $19,600,000 i n cash r e s e r v e s . Holdings of b i l l s d i s counted f o r member banks declined $15,200,000, whild hold!rigs of acceptances and Government s e c u r i t i e s purchased i n the open market i n c r e a s e d $18,600,000 and $10,200,000, r e s p e c t i v e l y . The Cleveland bank r e p o r t s a decline of $13,^00,000 discount holdings f o r the week, Chicago a d e c l i n e of $7,000,000, Richmond $$,800,000* St. Louis $5,400,000, San Francisco $5,200,000, and Kansas City $4,200,000. Discount holdings of the Hew York bank increased $13,600,000 and of Boston $10,700,000. The System's holdings of acceptances purchased i n the open market increased $18,600,000 during the week, of United States bonds $6,800,000, and of Treasury c e r t i f i c a t e s $3,200,000. The p r i n c i p a l changes i n Federal reserve note c i r c u l a t i o n f o r the week comprise decreases of $4,000,000 each reported by the Federal reserve banks of Atlanta and Chicago, $3,100,000 by Boston, and $2,600,000 by San Francisco. 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 the week and the year ending October 26, 1927, f o l l o w s : Increase or decrease Year Week — $19,600,000 19,000,000 + 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 . . . . 13,600,000 15,200,000 Total r e s e r v e s . Gold r e s e r v e s + $138,300,000 + 133,200,000 — - - 149,800,000 - 6,4oo,ooo - + 18,600,000 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 indebtedness . + + 4- 10,200,000 6,800,000 200,000 3,200,000 Federal reserve notes i n c i r c u l a t i o n -- 13,800,000 - Total d e p o s i t s Members' reserve d e p o s i t s Government deposits . . . 25,600,000 31,800,000 10,500,000 + + C. 4- + — 4- 27,400,000 229,500,000 79,800,000 11,600,000 26,800,000 . . B i l l s bought i n open market during + •¥ - 210,500,000 215,300,000 11,000,000 6,200,000 27,500,000 122,300,000 135,000,000 19,300,000 St.5545 a Released f o r publidatibii Friday morning, October 28, 1927'> not e a r l i e r . 'V EE SOURCES ASlB LIABILITIES OF THE TWELVE FEDERAL EE SERVE BANKS COMBINED ( i n thousands of d o l l a r s ) Oct. 26.1927 RESOURCES Gold with Federal r e s e r v e agents . . . Gold redemption fund with U.S.Treasury Oct. 19.1927 t 1,623,253 1,632,507 42,028 I ^40,528 Gold h e l d e x c l u s i v e l y against F.R.notes 1,665,2811/ Gold settlement fund 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 Total gold r e s e r v e s Reserves other than gold . . Total r e s e r v e s Non-reserve cash . ... . . . ' . . . . . . P 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 Oct, 27.1926 l,4ll,623 54,130 1,673,035 1,465,753 637,092 665,378 727,5^5 630,029 2,95&T%)2 2,975,505 135,793 j n 136,475 2,823,327 130,750 3,092,345 6l,l37 3,111,980 59,^95 236,428 165,970 224,821 192,776 2,954,077 52,841 , 31b,185 315,738 634,^85 656,880 Total b i l l s discounted . . . . . p i l l s bought i n 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 indebtedness . . . . 402,398 301,111 417,597 282,503 ,70^ a S i . e r e - / - 255,075 12*1 124,710 123,813 120,608 631,923 307,541 ,, , «.6n 135 ' r r 117>oo2 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 510,630 620 500,393 &20 300,174 2,500 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 other resources 1,214,759 5^4 688,277 59,774 13,159 1,201,113 5°3 851,251 59,774 12,695 1,242,138 65O < vE o0,047 15,752 5,130,J15 5,297,071 5,017,063 1,716,785 1,730,511 / 2,351•87Q/ 2,383,711 19,# 8,808 8,359 12,383 23,928 24,196 2,4332,429,098 2,216,896 38,546 ^',5 17, 3 2,281,131 TOTAL BESOURCES 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 . . D6T)osx1) s * Member bank - r e s e r v e account . . . . Government Foreign bank • Other deposits Total d e p o s i t s Deferred a v a i l a b i l i t y items All other l i a b i l i t i e s total liabilities ^ 1,702,999 646,615 775,545 l6,882 15,593 5,130,(^15 5,297,071 Ratio of t o t a l r e s e r v e s t o deposit and P. R. note l i a b i l i t i e s combined . . . 75-3$ 75-1/® 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 ^ 194,886 198,810 C. ftd, 5 5,017,063 . (>dt» • Ln oIir W,9 5 RESOURCES AND LIABILITIES OF THE FEDERAL ( i n thousands Total Boston Hew York Gold with Federal Reserve Agents 1,623,253 124,720 330,536 Gold redemption f u n d with U. S.Treas. 42,028 7,8l4 11,430 RESOURCES 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 ^__1,665,281 132,534 Gold s e t t l e m e n t fund with F.R.Board 634,*^85 Gold and gold c e r t i f . h e l d "by hanks 656,886 25,656 39.6% gold 2 ^ r 5 5 2 197,833 135,793 14,232 Total r e s e r v e s 3 , 0 9 2 ^ 4 5 212,065 Total gold r e s e r v s s Reserves o t h e r 0 Non-reserve cash B i l l s discounted: Secured hy U.S. Govt, o b l i g a t i o n s Other b i l l s discounted 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 n o t e s C e r t i f i c a t e s of indebtedness 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 Total h 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 A l l other r e s o u r c e s TOTAL RESOURCES C. 61,137 6,899 236,428 28,953 165)970 9,429 402,398 38,382 301,111 32,588 Cts' r S - * o l j 261,-876-/ 1 2 , 8 7 6 124^4T 8,167 123,313 8,323 510,630 620 29,366 1,214,759 100,336 564 36 688,277 65,538 59,774 3,946 13,159 123 RESERVE BAMS ON OCTOBER 26, 1927. of d o l l a r s ) Phila. Cleve. Rich. A t l a n t a Chicago St.Louis 131,524 203,980 4,245 4,304 S t . 5545b Minn. Kans.Cy. Dallas San Fran. 37.839 55.061 1.599 -1.729 1,395 1 7 , 9 0 4 164,106 273,164 2,518 1,399 47,382 3,131 33.966 203,071 1,456 1,008 50,513 35.422 204,079 289,219 31,626 5&rf58 20,649 6,i4o 93,878 21,849 11,580 27,674 17,103 38,253 393,328 28,166 39.128 27,251 7,788 56,932 11,686 6 , 8 9 7 7,442 6,998 31,627 1,024,513 195.561 2 9 8 , U P 0 6 8 , 3 2 2 179,433 425,573 73,103 74,933 85,629 59,523 273,959 7,976 9,939 5.S43 12,903 20,528 12,475 4 , 2 1 2 5 , 5 8 0 8,298 9,151 24,656 1 , 0 4 9 , 1 6 9 203,537 308,109^ 74,165 192,336 446,101 85,578 79,145 9 1 , 2 0 9 67,821 283,110 870 3 , 5 9 0 6 4,i4i 4 , 2 9 2 7,399 3,589 1,111 2,546 2,413 2,732 21,555 341,9^6 135.7G9 2 0 S . 2 8 ^ / 2 0 , 4 2 2 165,505 274,763 39.568 68,348 25,089 18,923 9,657 4,337 30,834 16,228 42,076 15,197 1 0 , 9 6 6 1 7 , 9 2 2 18,101 1 3 . 3 4 0 6,682 110,424 40,286 29,889 27,579 22,438 44,174 22,910 2,281 3 6 , 2 3 5 4,174 9 9 , 1 5 2 15,537 1 9 , 5 3 0 43,247 14,928 10,276 14,541 101,548 - 39,745 100 311,124 213 95,668 1 0 7 , 4 4 2 47 58,779 1,749 137 5,794 21,184 4,192 15.513 2.153 17,480 9.986 36,697 10,637 16,467 5,9H 276 6,805 10,675 18,752 12,241 20,500 18,673 26,753 11,077 7 , 9 7 0 7,869 7,477 8 , 7 0 0 3,577 3,713 16,732 7,289 5,107 8,044 7,039 10,299 58,023 12,439 13,765 77,954 37,118 25,318 36,413 33.189 4 5 , 7 5 2 45,233 26,912 29,403 166,825 16,276 4,621 56,456 33,943-7*6,345 14,453-" 2 , 3 9 s 9,627 3,696 6, 475 45,157 16,065 520 51 63,860 7,119 1,109 83,265 25 61,713 2,564 467 3 8 , 4 8 4 158,363 20 67 28,418 79.767 2,qoi 8,667 1,428 1,160 64,202 21 33.883 3.957 776 43,343 15 16,239 2,774 1,444 64,530 59.642 88,360 18 34 17 43,292 29,273 40,690 4,475 1.827 3.519 540 474 880 5,130,015 388,943 1,569,783 360,787 491,^80 226,340 267,379 701,524 192,006 144,071 206,610 161,467 419,325 7 RESOURCES AND LIABILI TIES .OF THE. FEDERAL RESERVE BASKS ON OCTOBER 26, 1927. ( i n thousands of d o l l a r s ) L I A B I L I T I E S Total Boston New York F h i l a . Cleve. Rich. A t l a n t a Chicago St.Louis 1 , 7 0 2 , 9 9 9 1^10,224 361,972 F . R . n o t e s in a c t u a l c i r c u l a t i o n E&posits: 2,351,87^155,347 933,776 Member "bank - r e s e r v e account 1 9 , 2 5 4 45 5,159 Government s 359 Foreign "bank aT ?j j J-SS cj,?CQ/ 2 3-, 9 2 8 / 1-r 435 15,505 Other d e p o s i t s 2,403,*51 156,397 957,303 Total d e p o s i t s 646,615 64,659 144,691 Deferred a v a i l a b i l i t y items 1 3 1 , 2 9 3 9 , 4 2 8 39,820 Capital paid in 228,775 17,606 6l,6l4 Surplus 16,882 629 4,383 All"other l i a b i l i t i e s 5 , 1 3 0 , 0 1 5 388,943 1 , 5 6 9 , 7 8 3 TOTAL LIABILITIES 79.5 75-yy Reserve r a t i o (per c e n t ) Contingent l i a b i l i t y on b i l l s p u r » 54,206 chased f o r f o r e i g n correspondents 194,88b 14,59.} F . R . n o t e s on hand ( n o t e s r e c ' d from 135,181 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 ) 421,787 31,983 "t,R.notes r e c ' d from Comptroller F . R . n o t e s h e l d by F. R. Agent F . R . 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 . 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 f u n d Gold fund - F. R. Board E l i g i b l e paper Total c o l l a t e r a l 2,928,021 239,207 803,235 67,000 7 1 , 2 3 2 156,511 235,302 139,902 176,597/ 73,010 284 Jgkr SS 563 S ? ^^ 96l 141,479 1 7 M i 4 54,506 13,245 21,26^ 61,161 13,953 23,746 1,686 2,958 S i n-ir 65,926 337,474 1,802 1,046 H I 116 === i1,152 :' « | 51,537 54,437 1,290 1,096 228 123 W——- 87,928 949 281 184 66,190 176,570 1,829 2,286 266 532 64 4.218 56,078 14,193 3,011 89,342 38,938 4,225 68,349 183,606 30,225 Mo,753 4,277 9,322 84,713 76,505 68,156 3^0,721 86,601 59,087 6,248 12,198 27,646 5,140 9,632 37,279 5,323 9,939 1,070 794 73,477 17,301 31,881 2.842 Minn. Kans.Cy. Dallas San Fran. 6 2 , 2 5 0 64,247 49,704 168,536 1,327 m 9 'Si 360,787 491,2^0 226,340 267,879 701,524 192,006 1 4 4 , 0 7 1 206,610 161,467 4 1 9 , 3 2 5 66.9 59.4 57.4 80.4 62.0 85.6 77.4 75-1 78.9 1 50.2 7,199 6,810 13,621 9,002 5,843 AGENTS FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE 87,227 110,899 H g 14.134 37.650 8,907 52,379 18,680 36,460 20,625 37,323 10,118 11,771 7,978 32,067 26,852 53,024 8,367 5,837 7,847 72,678 279,415 14-067 58.500 2 , 1 2 4 , 7 8 6 172,207 497,153 1 6 6 , 1 2 4 2*19,143 8 3 , 0 0 3 188,578 288,326 59,384 68,093 73,249 58,611 220,915 400,994 95,537 35,300 10,420 215,150 40,000 20,386 8,647 13,980 95,000 122,877 150,000 15,046 18,118 2,858 8,388 l,l64 137,600 272,000 7,800 3,039 27,000 12,267 794 70,970 26,971 44,860 28,OPS 1 7 , 3 1 3 to,000 3 , 1 5 3 20,186 674,931 42,000 17.354 2,522 521,135 181,956 252,47s 86,116 188,685 353,497 64,810 72,415 75,410 6 0 , 3 9 4 245,598 1,126,722 79,000 2 , 2 9 8 , 1 8 4 195,690 Total B i l l s discounted B i l l s bought in open market C e r t i f i c a t e s of indebtedness Municipal warrants 1 2 9 , 6 6 4 211,820 s t . 55U50 402,398 301,111 123,813 120 190,599 50,432 48,498 68,212 24,579 80,333 13,500 142,885 26.428 42.527 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS 91 days to 0 v e r 6 months 16 to 30 days 31 to 60 days 6l to 90 days 6 months Within 15 days 5,044 244 17,524 31,467 17,276 • 330,843 3,901 66,361 59,583 45,566 125,700 123,655 158 100 20
@FedFRASER