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STATEMENT FOR THE PRESS Released f o r p u b l i c a t i o n Friday morning, Sept. 10; not e a r l i e r . S t . $084 Federal Reserve Board, September 9, 1926. CONDITION OF FEDERAL RESERVE BANKS The consolidated statement of c o n d i t i o n of the Federal r e s e r v e banks on September 8, made p u b l i c by the Federal Reserve Board, shows a d e c l i n e of $12,100,000 in holdings of discounted b i l l s and of $6,700,000 i n Government secur i t i e s and an i n c r e a s e of $12,500,000 i n open-market acceptance h o l d i n g s . These changes were accompanied w i t h an i n c r e a s e of $43,600,000 i n Federal r e s e r v e note c i r c u l a t i o n and d e c l i n e s of $4,400,000 in cash r e s e r v e s , $3,800,000 i n non-reserve cash, $16,700,000 i n member bank r e s e r v e d e p o s i t s , anB $18,800,000 i n Government deposits. The New York reserve bank r e p o r t s a n i n c r e a s e of $16,400,000 in discount holdings and Cleveland an i n c r e a s e of $4,000,000, while the Chicago bank r e p o r t s a decline of $10,900,000 i n d i s c o u n t s , Boston a decline of $8,200,000, P h i l a d e l p h i a $3,400,000, and San F r a n c i s c o $3,300,000. Open-market acceptance holdings i n creased $12,800,000 at the New York bank. The System's holdings of Treasury c e r t i f i c a t e s were $9,300,000 below and of Treasury notes $2,700,000 above the p r e vious week's t o t a l s . All of the Federal r e s e r v e banks r e p o r t a l a r g e r volume of Federal reserve notes in c i r c u l a t i o n , the p r i n c i p a l i n c r e a s e s f o r the week being: Chicago $9,400,000, Cleveland $7,800,000, San Francisco $5,500,000, New York $4,300,000, Boston $3,500,000, and Minneapolis $3,100,GOO. A summary of changes in 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 reserve banks during tne week and t h e year ending September *8, 1926, 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 during Year - $4,400,uOO + 3,200,000 + $81,000,000 + 60,800,000 Total b i l l s and s e c u r i t i e s - 6,300,000 B i l l s discounted, t o t a l . - 12,100,000 Secured by U. S. Govt, o b l i g a t i o n s . . . + 4,100,000 Other b i l l s discounted - 16,200,COO + 6,000,000 - 24,900,000 - 40,000,000 + 15,100,000 B i l l s bought i n open market + 12,503,000 + 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 - - 14,800,000 - 24,900,000 - l6,400,000 + 26,500,000 - 6,700,000 100,000 2,700,000 9,300,000 51,800,000 Federal reserve n o t e s i n c i r c u l a t i o n . . . . + 43,600,000 + 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 - 40,000,000 - 16,700,000 - 18,800,000 2,200,000 + 11,500,000 - 17,200,000 C. 66,400,000 Released f o r p u b l i c a t i o n Friday morning, S e p t . 10, 19£oj not e a r l i e r . St.50S4a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVES BASKS COMBINED ( i n thousands of d o l l a r s ) Sept. 8. 1926 Sept. 1, 1926 S e p t . 9 . 1925 RESOURCES 1,408,431 Gold with Federal r e s e r v e a g e n t s 1,451,175 1,395,311 44,340 Gold redemption fund w i t h U.S. Treasury 53,354 53,622 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 Gold settlement, fun;! w i t h F. R. Board . . Gold and gold c e r t i f i c a t e s held by banks Total gold r e s e r v e s * . . Reserves other t h a n sold 1,462,355 1,448,933 73^,727 634,353 2,831,465 130,501 732,717 646,66l 2,828,311 138,032 1,495,515 679,480 595,696 2,770,691 110,230 2,966,343 49,328 2,880,921 43,614 614,267 265,984 320,675 _305,673 626,348 253,481 364,841 274,351 639,192 214,143 45,459 220,418 46,407 312,264 3,700 45,b05 217,702 55,o57 318,964 3,700 669 667,549 59,938 16,754 1,202,493 744 620,052 59,931 16,696 70,403 236,801 19,910 327,114 2,320 7,500 1,190,269 810 658,563 61,333 22,450 4,948,594 4,915,587 4,857,960 1,746,524 1,702,902 1,680,115 2,207,185 5,565 11,339 18,235 2,242,324 596,902 123,711 220,310 It,823 2,223,902 24,326 15,166 18,926 2,195',648 22,786 5,570 20,502 4,948,594 4,915,587 2,961,966 45,483 Bills discounted: Sec. by U. S. Government o b l i g a t i o n s . . 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 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 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 All o t h e r r e s o u r c e s TOTAL RESOURCES 324,831 289,436 1,196,235 " L I A B I L I T I E S 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 . . . . Total d e p o s i t s Deferred a v a i l a b i l i t y items A l l 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 t o deposit 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. 2,282,320 568,299 123,490 220,310 18,266 2,244,50b 585,596 116,380 217,837 13,526 4,857,960 74.3% 74.4$ 73-4$ 44,824 44,875 34,646 RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 8, 1926 (In tnousands of d o l l a r s ) Boston New York P h i l a . Cleve. Ricn. Atlanta Cuica^o St.Louis Minn. Gold with Federal Reserve Agents 122,281 352,238 98,124 181,790 40,242 129,975 168,750 16,633 47,189 Geld redemption fund with U.S.Treas.13,065 7,930 7,995 2,260 4,129 3,777 3,381 858 2,503 Gold held exclusively against F. R. notes 360,168 106,119 184,050 44,371 133,752 172,131 17,491 49,692 135,346 Gold settlement fund with F.R.Board 61,070 214,764 55,053 81,270 24,378 20,93+ 158,736 14,085 15,262 Gold and gold c e r t i f . held by banks 28,770 390,188 22,003 40,683 11,353 3,950 67,564 18,199 7,269 225,186 b Total gold r e s e r v e s 965,120 183,175 306,003 80,102 153,656 398,431 > 9 , 7 7 5 72,223 11,814 Reserves other t h a n gold 25,109 8,617 8,247 " 5,925 8,35% 21,554 19,206 2,934 Total r e s e r v e s 237,000 990,229 191,792 314,250 86,027 167,010 419,985 68,981 75,157 10,380 4,020 Non-reserve cash 3,689 1,010 2,926 1,593 3,546 2,333 8,787 B i l l s discounted: 144,112 24,565 25,250 10,616 Secured by U.S.Govt, o b l i g a t i o n s 26,23s 6,664 5,430 31,442 10,408 48,496 17,623 12,255 35,012 42,880 27,639 27,549 Other b i l l s discounted n,583 8,432 Total b i l l s discounted 192,608 42,188 37,505 45,628 48,310 59,081 37,957 15,116 37,321 46,030 21,151 26,200 11,850 29,988 37,784 B i l l s bought i n open market 20,627 8,657 U , 3 1 7 U. S. Governmsnt s e c u r i t i e s : 544 Bends 1,322 1,191 1,175 298 21,233 1,761 565 7,562 Treasury notes 1,560 22,514 15,486 4,96y 47,655 18,446 29,973 7,559 7.3SS 12,438 1,092 C e r t i f i c a t e s of indebtedness 1,290 1,945 82 3,046 3,178 5,866 1,981 Total U.S. Govt, s e c u r i t i e s 10,048 61,415 20,123 34,326 1,940 49,613 20,293 l b , 931 7,450 2,000 1,000 Other s e c u r i t i e s 700 RESOURCES - 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 TOTAL RESOURCES 68,49b - 57,417 4,06s 16 s 300,053 £5,462 98,031 — 669 154,141 56,255 62,232 7,409 16,739 1,597 4,9-78 550 1,191 • — b4,926 - 52,491 2,364 316 60,936 146,478 - 29,908 2,901 866 - 85,837 7,933 1,696 00,907 - 34,846 4,111 640 44,364 - Kans.Cy. Dallas San Fran. Total 51,737 20,26? 179,205 1,408,431 2,641 2,326 3,089 53,954 • 54,378 22,593 182,294 1,462,385 39,605 12,151 37,399 734,727 4,207 10,185 29,982 634,353 98,190 44,929 249,675 2,831,465 8,006 4,212 130,501 6,523 102,402 2,199 52,935 256,192 2,961,966 3,281 45,483 1,719 3,823 9,246 3,801 20,461 32,482 28,240 13,069 14,616 24,262 11,599 60,722 26,165 324,831 289,436 614,267 265,984 5,189 15,815 4,913 1,517 15,291 4,09a 82 33,762 6,478 45,459 220,418 46,407 26,917 20,906 40,322 312,284 3,700 - - 56,602 - 15,319 47,131 2,943 4,667 2,415 566 - 56,767 127,209 1,196,235 — 669 667,549 29 , 528 42,444 3,413 1,793 59,938 3,116 251 16,754 370,839 1,477,189 337,249 485,446 209,052 285,643 670,716 179,031 141,208 213,567 142,993 435,661 4,948,59*+ L I A B I L I T I E S RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 8, 192o S t . 50s4c ( I n thousands of d o l l a r s ) Boston New York P h i l a . Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy • Dallas San. Fran• Total 147,072 393,378 118,147 207,065 75,825 174,587 210,533 47,633 64,345 66,683 44,696 196,560 1,746,524 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 tank - r<s serve account Government Foreign bank Other deposits Total deposits 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 Reserve r a t i o , (per cent) 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 notes on hand (notes r e c ' d from F.R.Agent l e s s n o t e s in c i r c u l a t i o n ) F. R. notes r a c ' d from Comptroller R. notes held by F. R. Agent F. R. notes issued 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 issued 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 Eligible pater Total c o l l a t e r a l 141,231 841,022 133,157 180,413 66,786 b7,760 100 3,403 65 90 154 96 868 3,043 1,086 1,223 606 457 103 8.842 76 867 76 52 142,302 856,310 134,384 182,593 67,622 68,365 54,771 128,444 50,98 6 57,767 46,317 27,704 8,764 35,717 12,432 13,549 6,10s 5,033 17,020 59,964 20,464 22,8)4 11,919 8,700 910 3,376 836 1,578 1,261 1,254 370,839 1,477,189 337,249 485,446 209,052 285,643 81.9 80.6 60.0 6S.7 79-2 75.9 3,416 12,191 4,270 4,810 2,382 27,196 93,613 34,777 15,577 14,265 215,3^8 41,100 174,268 35,300 12,981 74,000 55,448 180,729 C. 6,158 1,933 1,438 1,753 1,573 3,102 44,824 31,830 36,958 4,359 6,625 6,971 5,383 29,029 309,583 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 780,311 188,604 2b4,582 118,345 269,197 409,908 72,152 83,650 111,274 6b,936 283,259 2,863,816 293,320 35,680 35,94 0 28,255 62,750 162,417 20,160 12,680 37,620 16,857 57,700 807,709 486,991 152,924 225,642 90,090 206,417 247,491 51,992 7°,970 73,654 50,079 225,589 2,056,107 8,780 28,805 14,238 14,156 10,000 304,134 7,945 13,212 9,827 13,010 4,111 17,065 102,055 4,437 5,737 3,105 1,388 1,977 3,877 156,000 88,297 1 60,000 7,000 i r o , 0 0 0 165,645 7,300 32,000 47,860 2,000 152,140 1,002,242 223,230 56,402 62,504 57,074 78,239 96,778 46,610 26,355 27,601 35,861 86,851 855,953 575,468 154,526 244,294 97,316 206,214 265,528 63,243 73,544 79,338 56,128 266,056 2,264,384 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS 171,698 24,540 Witnin 15 days 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 1,798 335,536 80,935 50,449 89,708 53,756 166,432 2,207,185 96 25 474 23 888 151 5,565 1,565 491 366 446 400 788 11,339 736 269 2QL 1,398 48 5,567 18,235 337,933 81,720 51,490 91,575 55,092 172,938 2,242,324 72,329 33,683 13,555 4 i , 0 & 30,384 39,898 596,902 16,654 5,270 3,108 4,193 4,294 8,589 123,711 30,613 9,570 7,501 8,979 7,615 15,071 220,310 2,654 1,155 1,209 1,073 912 2,605 18,823 670,716 179,031 141,208 213,567 142,993 435,661 4,948,594 76.6 53-3 64.9 64,7 53.0 69.3 74.3 456,632 90,732 730 16 t o 30 days 46,671 49,831 31 t o bO days 66,823 65,387 6l to 90 days 36,325 48,682 ddy f to o montns 7,696 11,352 45,677 Over 6 months 120 Total 614,267 265,984 46,407
@FedFRASER