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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. 28; not e a r l i e r . St, 5918 Federal Reserve Board, September 27, 1928. CONDITION OF FSESRAL RESERVE BANKS The consolidated statement of condition of the Federal reserve "banks on September 26, made public "by the Federal Reserve B 0 ard, shows a decrease f o r the week of $23,100,000 i n holdings of discounted b i l l s and i n c r e a s e s of $26,200,000 i n b i l l s "bought i n open market, and of $4,300,000 in United States s e c u r i t i e s . Member "bank reserve deposits declined $44,700,000 and Government deposits $32,700,000. Total "bills and s e c u r i t i e s were $52,500,000 "below the amount h e l d on September 19. The p r i n c i p a l changes i n holdings of discounted "bills were decreases of $58,700,000 «at the Federal Reserve Bank of New York, $23,900,000 at . xSan Francisco, $3,900,000 at Kansas City, and $3,000,000 at St. Louis, and i n c r e a s e s of $4,300,000 at Chicago and $3,300,000 at Dallas. The System's holdings of "bills bought i n open market increased $26,200,000, of c e r t i f i c a t e s of i n d e b t edness $2,700,000, of Treasury notes $1,200,000, and of United States bonds $400,000. Federal reserve note c i r c u l a t i o n decreased $4,100,000 at the Federal Reserve Bank of New York and $1,400,000 at San Francisco, and increased $3,700,000 at Cleveland, $1,900,000 at Chicago, $1,300,000 at Dallas, and $2,100,000 at a l l Federal reserve banks. 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 26, 1928, f o l l o w s : Increase or decrease Vfeek Total r e s e r v e s Gold r e s e r v e s + $2,800,000 + 7,100,000 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, obligations . Other b i l l s discounted - during Year - $355,ioo,ooo 355,900,000 52,500,000 83,100,000 61,800,000 21,200,000 4- + + + 340,200,000 R80,500,000 382,100,000 198,300,000 . . . . + 26,200,000 4* 21,300,000 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 . . . + 4,300,000 + 400,000 + 1,200,000 + 2,700,000 - 265,300,000 200,100,000 45,300,000 19,800,000 Federal reserve notes i n c i r c u l a t i o n . + 2,100,000 - 24,200,000 Total deposits 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 - 92,800,000 - 44,700,000 - 32,700,000 - 23,600,000 20,700,000 11,800,000 B i l l s bought i n open market - - - Be leased f o r p u b l i c a t i o n Friday momlQf* 28,1928; not e a r l i e r . St. 5912 a RESOURCES S m MOBILITIES OF THE T'®LV3 ECDE2M, SESSRiE 3AHXS COMBINED ( I n thousands of d o l l a r s ) Sept. 26.1928 Sept. 19,1928 Gold with Federal reserve agents . . . . Gold redemption fund with U.S. Treasury 1,214,389 65,503 1,167,332 71.730 1,630,529 48,010 Geld h e l d exclusively against F.R.notes 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 1,280,39 2 666,714 685,896 2,633,002 (,0 138,0 1,239.062 720.346 666,482 1,678.539 639,749 670,565 2,625,890 142,366 2,983,853 137,352 2,771,084- ^ 2,768,256 3,126,205 56,1 59,044 51,593 610,143 400,623 671,977 421,836 228,011 202,301 Total b i l l s discounted . . . . 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 indebtedness . . . . 1,010,766 263,419 1,093,833 237,139 430,312 242,143 53,377 89,222 86,433 53,005 87,976 83,746 253.515 . 134.559 106,278 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 229,0324,580 224,727 4,580 494,352 820 Total b i l l s and s e c u r i t i e s . . 1.507,797 1,560,329 1,167,632 573 689,765 60,320 8,341 573 818,337 6o,3i4 3,457 1,049 653,133 59,609 13,208 5,094.554 5,275,310 5,072,479 F. R. notes i n a c t u a l c i r c u l a t i o n . Deposits: Member bank - reserve account . . Government Foreign bank Other d e p o s i t s 1,681,581 1,679,521 1,705,765 2,315,312 12,699 7,337 30,302 2,360,534 45,379 7,459 45,580 2,336,548 24,507 5,791 22,922 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 . . . . 2,366,150 638,620 145,618 233,319 29,266 2,458,952 730,605 145,376 233,319 27, *37 2,329,768 602,290 130,960 228,775 14,921 TOTAL LIABILITIES 5,094,55%- 5,275,310 5,072,479 RESOURCES. Reserves other than gold Non-reserve cash B 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 . . Dae from f o r e i g n banks Bank premises All other resources TOTAL RESOURCES . L I A B I L I T I E S Ratio of t o t a l r e s e r v e s to deposit and F. R. note l i a b i l i t i e s combined . . 68.5 % 66.9$ 76.3# 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 . . . . . . 272,886 274,054 186,455 c. EE SOURCES JfflD LIABILITIES OF THE FEDERAL BE SERVE BMKS OH SEPTEMBER 26, 192S. ( i n thousands of dollars) BBSOURCE S Total K S J Gold h e l d exclusively against :: F. R, notes 2,771 ^ A = e f " — B i l l s -bo^nt i n open market U. S. trovernment s e c u r i t i e s ; ; 5°nds A l : S ^ e ? : CI eve. Rich. Atlanta Chicago St. Louis Minn. Kans.Cy. Dallas San Fran 1 : S " H g " , ' g V £ » • & 1 ' g ^ 63,880 279,181 23,326 47,695 ^ 53,223 809,243 147,783 284,545 24.795 7.564 12.332 60,811 78,359 483,60S 8 . 6 : 1 l 4 . 8 i q 18.6l6 64,399 l6.Tn 75,012 1.9,4 96,545 5.7%n 834,038 155,34? 296,877 69,424 93,178 502,224 80,750 76,936 102,325 57,385 261 3 slt0 3,643 3,313 1,084 2,113 1,886 3,7^ ^ »•«? «>& »•%>" 60,170 li 17,420 11,422 23,787 15,975 29,245 15,543 63 715 38!647 2,125 4,722 8,712 7,93s 701 . 2,633,0021233,457 ljS.OSg' 13,582 Total re serves % « Boston Hew York Phila. 1,280,392 132,626 ? o t a l gold r e s e r v e s Reserves ether than ^ e j d = ; f indebtedness 5 6 *1,039 6 % , 8 5 5 E E 193,509 17,795 ' « 90,l44 158,016 m 1,301 « 1,010,766 263,419 47,434 a,422 3 3 7 , 6 a 105,044 78,297 15,298 53,377 1,296 gjgf 229,032 4,580 1,436 - Total t i l l s and s e c u r i t i e s Due from foreign banks Uncollected items Sf6®1665 All other resources 1,507,797 573 689,765 60,320 g,84l 76,342 37 65,773 3,824 100 . Digitized forcFRASER ' S'M 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 t o r n RESOURCES St. 5918b 3 247 ' 26,036 ' 7,969 & & 3,425 964 68,735 24,058 54,947 11,975 83,956118,592 13,299 17,472 1,188 1,153 1,226 & 1 1 : % 1 . ^ N : 50,94i 1,050 a,306 30 34,397 - 3,276 6,905 467,909 l 4 i , 6 7 8 127,24o 217 47 52 1 8 1 2 2 8 57,121 66,650 16,675 1,752 6,806 1,322 117 1,272 19,927 ^ 34,456 11,625 23,829 188 927 ^ 52,657 251 583*1. 4 a a-,J :::: 10,861 500 70,198 l o 4 , i 6 o 170,520 71,306 4o,2Q3 25 21 69 21 l4 50,4k) 23,4o3 86,233 32,866 15,281 3,532 2,845 8,720 3,911 2,£02 395 1,850 1,071 389 725 16,086 - ^ 14,562 3,000 17,181 - 55,848 6 2 J 5 0 119,543 18 17 35 43,615 28,134 39,021 4,308 1,917 3,828 4a 551 628 5,094,554 393,350 1,519,124 357,363 502,144 197,854 229,100 776,806 193,056 136,445 208,648 152,240 428,364 z L I A B I L I T I E S #DBRAL RESERVE BANKS OF SEPTEMBER 2b, i%2&. ,: St. 591 tic ( I n thousands of d o l l a r s ) Total Boston New York H i i l a . Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 1,681,581 1^9,324 335*178 130,6o3 203,868 59»873 125,214 290,452 57,363 57,113 6l,308 4i,635 169,650 F.R,notes i n a c t u a l c i r c u l a t i o n Deposits: • Member "bank - reserve account 2,315,812 Government 12,699 Foreign "bank 7,337 Other d e p o s i t s 30,302 Total d e p o s i t s 2,366,150 Deferred a v a i l a b i l i t y items 638,620 C a p i t a l paid i n 145,618 Surplus 233,319 All other l i a b i l i t i e s 29,266 TOTAL LIABILITIES 5,094,554 Reserve r a t i o (per c e n t ) 68.5 Contingent l i a b i l i t y on "bills p u r chased f o r f o r e i g n correspondents 272,886 F.R.notes on hand (notes 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 ) 403,266 F.R.notes rec»d from Comptroller F.R.notes h e l d 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 h e l d 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 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 G • for FRASER Digitized 150,l4g 888,308 134,212 189,021 68,817 63,484 i,oo4 300 476 1,984 264 3,620 472 2,814 599 655 32L 265 988 6,955 858 3,021 l.gUl 442 151,873 901,697 136,673 192,997 70,855 66,175 62,501 161,159 51,972 64,118 47,245 20,751 10,056 49,316 l 4 , 4 l 6 l4,30b 6,102 5,238 17,893 63,007 21,662 24,021 12,324 9,996 1.703 8.827 P.037 2.814 1.455 1.726 393,350 1,519,184 357,363 502,144 197,854 229,100 80.0 67.4 58.1 74.8 53.1 48.7 20,489 76,73% 30,079 120,S4o 2,859,232 241,053 774,385 6l,650 2,084,847 179,4o3 25,953 28,4ll 13,932 349,917 708 876 2.480 353,981 76,691 18,362 32,778 4.542 776,806 77.9 81,287 52,312 385 966 271 170 2.675 980 84,6lS 54,428 33,402 13,543 5,399 3,015 10,397 7,039 1.877 1.307 193,056 136,445 56.9 69.0 11,474 37,973 11,747 29,24? 28,060 17,63 2 30,710 FEDERAL RESERVE NOTE ACCOUNTS OF 708,858 190,850 267,158 102,984 222,664 252,840 31,000 35,230 25,479 66,740 456,018 159,850 231,928 77,505 155,924 48,572 FEDERAL 456,894 117,870 339,024 11,9k) RESERVE 85,853 16,550 69,303 344,067 35,300 153,407 50,000 6,690 27,100 91,105 18,666 16,730 8,873 12,665 3,236 5,294 779,717 73,000 5,000 74,977 90,000 l4,000 27,000 1,214,971 68,887 391,085 97,339 90,982 60,568 97,036 2,429,86o 195,853 566,222 181,189 243,647 84,494 156,430 "ATHEITY DISTRIBTJTION OF BILLS, CERTIFICATES OF Total Within 15 days 1,010,766 863,522 263,419 97,048 86,433 4,330 30 - 16 to 30 days 44,257 35,435 - 31 to 60 days 57,729 43,168 - 7,376 89,605 66,538 291 1,315 227 220 4.194 324 94,317 68,397 38,900 28,631 4,198 4,309 9,046 8,527 819 iM 208,648 152,2k) 65.8 52.2 9,835 9,562 6,915 9,020 AGENTS 81,367 101,508 17,339 31,180 64,028 70,328 8,786 182,162 1,386 447 6.l44 190,139 39,707 10,901 16,629 W3g_ 428,364 72.7 19,396 6l,465 ,1 70,528 329,515 20,107 '$8,k)0 5 0 , 4 a 231,115 7,600 l 4 , l 6 7 14,803 35,000 1,253 2,268 2,454 3,071 2,824 13,771 273,000 8,000 28,000 46,860 4,000 135,880 135,942 60,158 26,628 39>66o 44,736 101,950 410,195 78,026 71,249 89,591 '66,363 286,601 INDEBTEDNESS AND MUNICIPAL WARRANTS 6l to 90 days 37,780 81,424 4o,583 - months° 7,185 6,344 38,804 30 Over 6 months 293 2,716 -
@FedFRASER