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Released f o r p u b l i c a t i o n Friday morning, Sept. l 4 ; not e a r l i e r . STATEMENT JOR THS PRESS St. 5904 Federal Reserve Board, September 13, 1928. CONDITION OF EEIEFJJJ RBSERVE BANKS The consolidated statement of condition of the Federal reserve banks on September 12, made public by the Federal Reserve Board, shows i n c r e a s e s f o r the week of $24,400,000 i n holdings of b i l l s bought i n open market, $15,000,000' i n United S t a t e s s e c u r i t i e s , $75»300,000 i n member bank reserve d e p o s i t s , and $23,600,000 i n cash r e s e r v e s , and decreases of $10,900,000 i n holdings of d i s counted b i l l s and $12,800,000 i n Federal reserve note c i r c u l a t i o n . Total b i l l s and s e c u r i t i e s were $29,500,000 above the amount h e l d on September 5« The p r i n c i p a l changes i n holdings of discounted b i l l s were decreases of $12,800,000 at the Federal Reserve Bank of Chicago and $10,000,000 at Boston, and i n c r e a s e s of $10,900,000 at Cleveland and $5,200,000 a t New York. The System's holdings of b i l l s bought i n open market increased $24,^00,000, of c e r t i f i c a t e s of indebtedness $14,600,000 and of Treasury notes $900,000, while holdings of United S t a t e s bonds declined $500,000. Federal reserve note c i r c u l a t i o n declined $15,100,000 at the Federal Reserve Bank of New York, $2,500,000 at Boston and $12,800,000 at a l l Federal reserve banks, and increased; $5,000,000 at Cleveland and $2,400,000 at Dallas. 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 September 12, 1928, f o l l o w s : Increase or decrease Week + $23,600,000 + 19,800,000 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 + - 29,500,000 10,900,000 - 4,000,000 14,900,000 . . . + 24,400,000 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 . . + 15,000,000 500,000 900,000 B i l l s bought i n open market + - + during Year - + + + + - 401,800,000 693,900,000 452,600,000 241,300,000 15,600,000 _ - - 35,300,000 + i4,600,000 - 16,100,000 Federal reserve notes i n c i r c u l a t i o n - 12,800,000 - 19,300,000 Total d e p o s i t s Members' reserve d e p o s i t s Government d e p o s i t s . . . + + + 82,500,000 75,300,000 700,000 + + 20,600,000 23,700,000 - 2,900,000 Released f o r publication Friday morning, Sept. 14,1928; $iot e a r l i e r . St. 5904a EBSdUECES AST) LIABILITIES . OF THE TWELVE JEXEBii SESBV2 BANKS COMBIMED (In thousands of dollars) Sent. 12.1928 Sept. 5.1938 Sept. 14,1927 RESOURCES Gold with Fedora! reserve agents . . . . Gold redemption fund with U. S. Treasury 1.143,470 68,64$ 1,082,4-29 66,351 1,665.739 Gold held exclusively against P.B.notes Gold settlement fund '.Tith F. R. Board . Gold and gold c e r t i f i c a t e s held "by "banks Total gold reserves Reserves other than gold . . 1,212,115 678,301 738,530 2,628,946 l4l,999 1,148,780 751,338 709 >031 2,609.1*6 138,l48 1,718,761 596,363 668,548 2,983,672 140,369 Total reserves . . . . . . Eon-reserve cash B i l l s discounted: Sec. by U. S. Government obligations . Other b i l l s discounted . 2,770,94-5 59.873 2,747,297 52.296 3,124,041 656,035 4l3,211 652,032 428,085 203.447 171,887 Total b i l l s discounted . . . . . B i l l s bought in open market . . . . . . IT. 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 . . . . . 1,069,246 211,160 1,080,117 186,796 375.334 226,717 53.36 2 87,886 80,096 53.283 87,026 65,476 280,188 123,181 221,344 2,020 206,385 990 499,576 320 1.503.770 572 771,589 60,305 9,190 1,474,288 571 681,587 60,255 8,981 1,101,947 12,262 848,897 59,580 19.691 5,176,24$ 5.025.275 5.220,757 F. R. notes in actual c i r c u l a t i o n . , . Deposits: Member bank - reserve account . . . . Government Foreign bank - Other deposits 1,688,267 1.701,035 1.707.584 2,348,676 9,617 5.952 23,875 2,273.343 8,946 1 16,941 2,324,989 12,494 5,329 24,674 Total deposits . . . . . . . Deferred a v a i l a b i l i t y items Capital paid i n Surplus All other l i a b i l i t i e s 2,388,120 694,925 144,986 233.319 26,632 2,305*577 615.257 144,924 £53.319 25.1o3 2,367,486 771.929 130,731 228,775 14,252 5,176.249 5.025,275 5,220,757 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 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 411 other resources TOTAL RESOURCES 53.022 5%,339 96,207 L I A B I L I T I E S TOTAL LIABILITIES . . . . Ratio of t o t a l reserves to deposit and F. R. note l i a b i l i t i e s combined . . 68.0$ 68.0^ 76.7# Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents . . • • • 277.265 279.049 182,182 C. • • RESOURCES)^ LIABILITIESOP THE EEEERAL RESERVE BARKS ON SEFPEMBER 12. 19 28. (In thousands of d o l l a r s ) RE S O U R C E S :: (Total Boston New York Phi l a . St • rqnkh J %% % % ^ ^ Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold held exclusively against F. R. notwg 1,212,115 124,008 fiold settlement fund with F.R.Boaxd 678,301 71,768 Gold and goia q e r t l f . held by tanks 738,530 33,729 191,951 93.258 148,427 125,050 31.471 75,905 509,233 25,767 41,079 25,606 67,326 261,430 20,440 27,398 10,389 191.252 30,949 6,554 3.922 53,595 loiso? 46,l63 53,999 21,755 157.752 21,299 34,954 21673 36193 4^8 7% 12,323 33!4?o fpld ^serves He serves other than gold 2,628,946 225,505 l4l,999 12,326 8 26,234 150,496 265,411 26,409 6,669 13,119 59,558 81,637 506,277 62,196 9,320 16,169 18,575 17,433 72,250 2,o6l 96,276 5,017 55,751 227.355 4,512 10,329 2,770,945 237,831 852,643 157,165 278,530 68,878 97,806 524,852 79.629 74,311 101,293 60,263 237,744 3.171 4,019 4,4l9 2,100 s « a 54,917 6,619 80,882 99.217 11,386 13,423 ^##Aal reserves 59,878 B i l l ^discounted* £ r & ' £ = r , Totm t i l l s discounted Bills i n open ra-kct -S* Gaverment s e c u r i t i e s ; indebtedness T o ^ y . S . Govt, s e c u r i t i e s Other s e c u r i t i e s T ° * 4 t i l l s and s e c u r i t i e s Due from foreign banks EF" All other resources - m j & RESOURCES s a 1,069,2% 211,160 : : : l 221,344 2,020 6,205 g : g *,143 23,064 9.190 ' - g : a 1 ^ 2 s a g 8,816 90 s 356.416 104,490 86,955 61.391 10,615 19.875 ^ 1,503,770 78,023 572 37 ^ 19 174 49,456 500 22,189 30 s 8,373 3.780 1,050 2,733 a $•.% i - a x - a i s 1 1 1 1 . 1 ^ f 35,236 3,276 5,427 34,296 - 467,763 137.324 142,066 64,812 97,695 148,936 216 47 52 25 21 69 'IIM! 1:g 121 1:g 1.930 305 1.364 4l7 1.252 1,040 67,664 19,615 25,303 11 8,4s4 10,231 : S . s s - S 28,573 99.071 11,229 32,822 j g 11,335 17,217 1^ 0 „ 67,675 39,934 52.751 21 l4 18 325 a 3.362 819 15.376 I&.720 1>000 56,17s 150,613 17 35 3 1:^ i;9t l i 472 548 628 5,176,249 399.810 1,558,253 361,353 505,345 197.947 228,375 792,711 191.038 135,423 209,620 152,307 444,067 ittiyuwtass; ABB LlAdlLI'Iijui), Q£ illBE CSS..SSPTEMBEB 12', igr28. tit. 5904c (in thousands of dollars) Total Boston New York Hiila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes i n actual c i r c u l a t i o n 1,688,26? 150,805 344,107 131,867 204,712 58,505 125,799 287,109 57,002 55,548 60,787 38,386 173,64o Deposits: Member bank - reserve account 2,345,676 147,726 917,249 133,250 187,375 65,577 62,122 357,122 79,294 52,804 91,198 67,927 187,032 Government 9,617 402 426 338 951 532 868 1,303 843 848 722 740 1,644 Foreign "bank 5,952 473 1,429 598 655 321 265 876 271 170 227 220 447 Other deposits 23,875 181 10,759 685 2.111 362 473 1,549 639 289 480 58 6,289 Total deposits 2,388,120 148,782 929,363 134,871 191,092 66,792 63,728 360,850 81,047 54,111 92,627 68,945 195,412 Deferred a v a i l a b i l i t y items 694,925 70,637 163,980 56,727 68,580 52,898 22,039 89,450 36,072 14,540 42,157 31,497 46,348 Capital paid i n 144,986 10,034 48,908 l4,4i6 14,306 6,081 5,239 18,225 5,400 3,013 4,203 4,303 10,858 Surplus 233,319 17,893 63,007 a,662 24,021 12,324 9,996 32,773 10,397 7,039 9,o46 8,527 16,629 All other l i a b i l i t i e s 26,632 1,659 8,388 1,810 2.614 1.147 1,574 4.299 1.120 1.172 800 649 1.180 TOTAL LIABILITIES 5,176,249 399.810 ,558,253 361,353 505.345 197,947 228,375 792,711 191,038 135,423 209,620 152,307 444,067 Re s e r f s r a t i o (per cent) 68.0 79.4 66.9 58.9 70.4 55-0 51.6 81.0 57-7 67.8 66.0 56.1 64.4 Contingent l i a b i l i t y on t i l l s purchase^. f o r foreign correspondents 277,265 20,875 77,422 26,442 28,946 14,195 11,690 38,688 11,968 7,515 10,020 9.742 19,762 F.R.nofces on hand (notes r e e ' d from F.ILjfcgent l e s s notes i n circulation)385,199 29,316 116,joi 27,384 24,519 17,394 23,803 45,543 12,653 7.147 8,582 8,769 58,788 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F.R.notes r e e ' d from Comptroller 2,850,462 240,771 717.568 183,651 266,961 103,148 221,562 453,422 86,245 79.209 101,349 71,348 325,228 F.R.notes held by F. R. Agents 776,996 60.650 257.160 24,400 37,730 27,249 66,960 120,770 16.590 l6,5l4 31.980 24,193 92.800 F,R.notes issued to F.R.Barik 2,073,466 180,121 460,408 159,251 229,231 75.899154.602332,652 69,655 62,695 69,369 47,155 232,428 ( b i l a t e r a l held as security f o r F.R.notes issued to F.R.Barik: Gold and gold c e r t i f i c a t e s 341,321 35,300 153,161 50,000 6,690 27,100 7,600 14,167 12,303 35.000 Gold redemption fund 91,016 14,384 16,930 8,674 11,768 5,760 7.573 1,448 1,940 1,456 3,012 3.643 14,428 Gold fund - F.R.Board 711,133 68,000 5.000 76,177 80,000 10,000 28,000 253,000 6,000 28,000 48,860 4,000 104,096 Eligible paper 1,236.448 69.188 401,390 95.130 106.549 57.948 92,193 114.510 67.651 25.827 35.418 39,785 130.859 TStfillcollateral 2,379.918 186,872 '575,'81 179,981 248,317 80,398 154,866 368,95s 83,191 69,450 87,290 59*731 284,383 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days 6 months Over 6 months B i l l s discounted 1,069,246 899.027 54,108 69,054 38,781 7.976 300 B i l l s bought in open market 211,160 97,147 36,551 40,304 31,622 5, C e r t i f i c a t e s of indebtedness 80,096 16.375 30,480 745 32, Municipal warrants L I A B I L I T I c» s 30 30
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