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STATEMENT FOR TEE PRESS Released, f o r p u b l i c a t i o n Friday moralng.Oct. 5'» not e a r l i e r . St. 5932 Federal Reserve Board, October-4, 1923. CONDITION OF MDEHAL R1SCRVE BASKS 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 3 , made p u b l i c by the Federal Reserve Board, shows i n c r e a s e s f o r the week of $15,200,000 i n h o l d i n g s of discounted b i l l s , of ?4S /oOO.OOO i n b i l l s bought i n open market, of ipl.oOO.OOO i n United S t a t e s Government s e c u r i t i e s , of $22,000,600 i n Federal r e s e r v e note c i r c u l a t i o n , and of $33,700,000 i n member bank r e s e r v e d e p o s i t s , while cash r e s e r v e s d e c l i n e d $19 • 100,000• Total b i l l s and s e c u r i t i e s v / o r o $63,300,000 above the amount h e l d on September 2'o. The p r i n c i p a l changes i n h o l d i n g s of discounted b i l l s v / e r e i n c r e a s e s of $16,^00,000 at the Federal Reserve Bank of Now York, $ 1 1 , 0 0 0 , 0 0 0 at San Franc i s c o , and $ 4 , 5 0 0 , 0 0 0 at Chicago, and d e c r e a s e s of $ 8 , 5 0 0 , 0 0 0 a t Richmond, $3,000,000 a t D a l l a s , $ 2 , 8 0 0 , 0 0 0 at St. Louis,and $ 2 , 4 0 0 , 0 0 0 at Minneapolis. The System 1 s h o l d i n g s of b i l l s bought i n open market i n c r e a s e d $ 4 6 , o 0 0 . 0 0 0 , of Treasury n o t e s $ 1 , 1 0 0 , 0 0 0 , and of c e r t i f i c a t e s of indebtedness $700,000, v/hile h o l d i n g s of United S t a t e s bonds d e c l i n e d $200,000. Federal r e s e r v e note c i r c u l a t i o n was $22,000.000 h i g h e r than a week ago, oxi aggregate i n c r e a s e of $28,100,000 reported by ton Federal r e s e r v e banks having been p a r t l y o f f s e t by d e c r e a s e s of $3,500,000 at the Federal Reserve Bank of Cleveland and $ 2 , 6 0 0 , 0 0 0 at P h i l a d e l p h i a . 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 3 . 1928. 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 - 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 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 $351,200,000 349,100.000 - + + 53.300,000 15,200,000 5,900,000 9,200,000 + + + + 34o,700,000 563,400.000 373.500.000 189.900.000 + 46,600,000 + 47.800.000 + . + 1,600,000 200,000 1,100,000 700.000 • + 22,000,000 . + 47,800,000 33,700,000 19,900,000 . . 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 . . ' + + 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 d i s c o u n t e d . . . . B i l l s bought i n open market $19,700,000 16,400.000 Year during • 4- - 274.300,000 202.800,000 36,300,000 35,200,000 - 13,400.000 - — - 12.300.000 10.800.000 4,600,000 Released f o r p u b l i c a t i o n Friday morning, October 5.1928; not e a r l i e r . St. 5932a H$ SOURCES A2TD LIABILITIES OP THE T m u m FEIffiRAL RESERVE BAIHS COimiUED ( I n thousands of d o l l a r s ) Oct. 3.1928 Sept. 26.1928 Oct. S. 1927 1,178,312 69,947 1,214,889 65,503 1,561,864 45,695 1,248,259 1,280,392 1,607.559 688,054 680,322 666,714 685,896 704,384 653.841 RESOURCES Gold with Federal r e s e r v e a g e n t s . . . . Gold redemption fund w i t h 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 T . R . n o t e s Gold s e t t l e m e n t fund with 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 "banks Total g o l d r e s e r v e s 2,965,784 134.766 2,633,002 138,082-*° 2,751,401 2 , 7 7 1 , 0&¥(>% 3,102,558 53,801 5 6 , 1 pr9<o . 51,150 2,616,635 Reserves other than g o l d Total 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 136,774 616,087 409,831 610,143 400,623 242,557 219,928 1,025,918 1,010,766 462,485 309,976 263,419 262,165 53.149 90,363 87,092 53,377 89,222 86,433 255,972 1 2 6 , 6 24 122,277 230,604 4,580 229,032 4,580 504,873 . . 820 1,571,078 1,507.797 1.230,343 57>» 780,349 60,318 .8,909 573 689,765 60,320 8,841 563 724,370 59.609 13,640 5.226,430 5,094,554 5,182,233 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 . . . . 1,703,630 1,681,581 1,717,049 2.349,553 32,569 5,942 25.926 2,315,812 12,69$ 7,337 30,302 2,360,378 37.215 5,382 23,352 Total d e p o s i t s Deferred a v a i l a b i l i t y items 2,413,990 700,191 145,658 233,319 29,642 2,366,150 638,620 145,618 233,319 29,266 2,426,327 664,038 131.098 228,775 14,946 5.226,430 5,094.554 5.182,233 Total b i l l s d i s c o u n t e d . . . B i l l s bought i n o,?en market U. S. Government s e c u r i t i 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 U.S. Government 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 . Bank premises A l l other r e s o u r c e s TOTAL RESOURCES 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 to 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 for C. FRASER 66.8< 267.635 . 68.5^ 74.9# 272,886 189,168 RESOURCES AND LIABILITIES OJ THE EB3BRAL RESERVE BAMS ON OCTOBER 3 , 1J2Z. ( i n thousands of d o l l a r s ) Total Boston Hew York P h i l a . Cleve. Rich. A t l a n t a Chicago S t . L o u i s Go!* w i t h Federal Reserve Agents 1 , 1 7 8 , 3 1 2 124,017 175,04o 82,121 153,180 27,555 5 9 , 4 l 9 254,136 1 6 , 7 7 4 C x i redemption fund with U . S . T r e a s . 69,947 7,643 l6,500 7,978 5,115 2, 400 5,160. 6,698 5,921 St. 5932h RESOURCES Gold h e l d e x c l u s i v e l y a g a i n s t ?. R. n o t e s 1 , 2 4 8 , 2 5 9 131,660 Gold s e t t l e m e n t -fund with F.R.Board 6 8 8 , 0 5 4 Total g o l d r e s e r v e s R e s e r v e s other than g o l d Total r e s e r v e s Hon- r e s e r v e cash B i l l s discounted: Secured t>y U.S.Govt, o b l i g a t i c Other t i l l s discounted Total 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 : 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 T o t 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 T o t a l 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 sank p r e m i s e s All other resources TOTAL RESOURCES C. 68,334 2 , 6 1 6 , 6 3 5 233,137 134,766 13,744 2 , 7 5 l . 4 o i 246,881 Minn. Kans.Cy. D a l l a s San Fran. 44,621 4 9 , l 6 l 20,991 1 7 1 , 2 9 7 2,840 3,721 2,199 3,772 191,540 90,099 1 5 8 , 2 9 5 29,955 64,579 260,834 22,695 47,46l 52,882 23,190 175.069 l4s,84i 34,099 31,277 1 1 . 3 2 2 156,017 4 , 0 6 2 61,361 37.73 2 9,542 27,043 5.540 39.346 7,326 26,019 9,812 79,963 478,212 69,969 80,044 13,526 17,711 15,347 1.955 99,554 5,276 59,021 243,180 4,888 9.520 93.489 495,923 85.316 81,999 104,830 63,909 252,700 73,309 776,104 152,577 276,342 22,672 7,563 68,532 14,009 8,555 798.776 1 6 0 , i 4 o 290,351 77.087 34,715 33.396 53,801 6,132 16,097 1,306 4,475 3.892 3,330 7,968 2.719 1,085 1.835 1,792 3,170 016,087 409,831 24,123 22,934 230,767 123,231 78,660 24,651 39.178 29,795 16,296 30,336 24,623 59,965 93,559 29,541 25.817 31.587 9,4oo 5,600 9,307 14,690 14,930 11,363 49,427 26,138 1,025,918 309,976 47,057 26,984 353,998 103,311 93,902 16,4% 68,973 28,032 46,632 14,211 84,588 123.100 15,783 21,291 57,4O4 11 15,000 13,265 23.997 17,613 26,293 16,526 75,565 39,909 53.149 90,363 87.092 1,296 1,713 4,427 3,425 11,873 36,413 964 9.002 II,34O 1,188 27,009 6,136 1,153 594 1.529 1,398 3,755 2,168 19,927 5.512 9,867 2.125 9,500 4,722 3,925 2,214 8,312 2,412 4,962 7,938 3,515 3.109 701 11,553 4,927 230,6o4 4,580 7,436 5l,7U 1,050 21,306 30 34,333 3,276 7.321 35,306 11,625 10,861 500 15,686 14,562 3,000 17,181 1,571,078 574 780,349 60,318 8,909 81,477 37 75,143 3,824 156 6 4 , 1 1 9 107.692 179.697 25 21 69 5 6 , 0 2 9 25,074 93,763 3.532 2,844 8,720 54l 1,828 1,078 69,040 21 36,227 J,910 383 39,626 l4 I7,l6l 2,20 2 739 57,296 18 48,232 4,308 488 60,381 1 3 2 , 6 5 5 17 35 28,945 4o,558 1,917 3,828 55% 621 506,661 l 4 l , 0 9 6 131.338 218 4? 52 217,268 71,020 70,929 16,675 1,752 6,806 1,107 1 26 1,288 5 , 2 2 6 , 4 3 0 413,650 1 , 5 5 6 , 8 0 2 375,487 505.239 205.225 234,278 787,218 197,616 142,826 217,007 157,515 433,567 L I A B I L I T I E S HE SOURCES USD LIABILITIES Or *ius jh*ub,jxhl jbikujikSk Ufl - OCTQBJSd ' 3 , 1928. Ox. (In thousands of d o l l a r s ) Total Boston New York F h i l a . Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 1,703,630 151,585 339,506.128,012 200,385 63,521 128,710 294,262 58,813 60,136 63,036 44,609 171,055 F.R,notes i n actual c i r c u l a t i o n Deposits: Member bank - reserve account 2,349,553 Government 32,569 Foreign "bank 5,942 Other d e p o s i t s _ 25,926 Total d e p o s i t s 2,413,990 Deferred a v a i l a b i l i t y items 700,191 Capital paid i n 145,658 Surplus 233,319 A l l other l i a b i l i t i e s 29,642 TOTAL LIABILITIES 5,226,430 Reserve r a t i o (per c e n t ) 66.8 Contingent l i a b i l i t y on "bills purchased f o r f o r e i g n correspondents 267,635 R.notes on hand ( n o t e s r e c ' d from F.R.Agent l e s s notes i n c i r c u l a t i o n ) 386,693 F.R.notes r e c ' d from Comptroller F.R. notes held "by F. R. Agents F.R.notes i s s u e d to F.R.Bank C o l l a t e r a l held as s e c u r i t y f o r F.R.notes 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 Total c o l l a t e r a l 344,067 902,802 140,731 190,665 10,117 2,771 2,370 1,215 626 685 7,99 2 753 2.383 68,275 99 63,463 1,655 960 4qq 336 922,126 144,881 196.103 69,670 173,495 614,393 67,53% 52,094 10,056 ^9,343 14,419 14,317 6,102 17,893 63,007 21,662 24,021 12,324 1,685 9,225 2.120 2.879 1.514 413,650 1,556,802 375,%87 505,239 205,225 79.3 63.3 58.7 73.2 57.9 159.672 72,759 19,913 27,269 2,864,043 245,464 773,720 66,610 2,090,323 178,854 35,300 98,510 15,717 735,735 73,000 1,291.675 74,022 276 346,027 81,997 54,909 93,271 67,55% 184,180 4,779 915 1.4o4 1,468 283 1,^77 4l6 178 813 832 237 2,995 97,335 42,443 65,893 353,125 85,225 56,376 22,612 84,074 3#,37% 15,034 5,237 18,362 5,399 3,014 9,996 32,778 10,397 7,039 1,830 4,617 1.408 4,200 9,046 1.227 947 2,398 230 168 2,800 1)67 5.787 70,350 193',234 29,000 40,379 4,312 10,897 16,629 8,527 JU 1,373.. 234,278 787,as 197,616 142,826 217,007 157,515 433,567 48.0 76.6 59.2 70.4 65.4 55.6 69.4 76,999 25,224 27,613 13,5%! 11,151 36,906 11,417 7,169 9,558 9,293 18,851 116,148 30,109 28,057 16,674 29,36s 45,701 12,016 7.792 8,022 8,351 57,186 AGE2TTS 710,494 1 9 4 , i a 2 6 3 , 6 7 ? 103,094 221,788 458,633 254,840 36.000 35.230 22,899 63.710 118,670 455,654 158,121 228,442 80,195 158,078 339,963 87,239 lb.4l0 70,829 81,367 101.63s 69,892 326,641 13,439 67,928 30,580 71,058 16,932 9S,4oo 52,960 228,241 50,000 6,690 27,100 7,600 14,167 16.633 11,144 13.180 6,865 9,319 1,136 1,174 2,454 5,000 70,977 90,000 14,000 23,000 253,000 8,000 28,000 427,018 110,870 95,578 57,386 i o o , o 4 4 i 4 4 , 2 % 57,305 25,93s 4,301 44,SoO 41,501 l4,S03 35,000 3,188 13,399 3,000 122,898 42,730 115,045 153,407 2,469,987 198,039 602,058 192,991 248,758 ,84,941 1 5 9 , ^ 3 398,384 74,079 70,549 90,662 63,721 286,342 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL '7ARRA2TTS 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 indebtedness Municipal warrants 155,679 2,864 494 635 1,025,918 309,976 87,092 30 Within 15 days 887,007 121,609 5,380 16 to 30 days 39.193 30,889 31 to 60 days 55,%0l 57.777 . 6 l to 90 days 34,308 94,304 37,759 30 ^Sths° . 9,732 5,397 41,665 Over b months 277 2,288
@FedFRASER