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Released f o r publication. Friday morning, Sept. 30; i not e a r l i e r . STATEMENT FOR TIE PRESS St. 5517 Federal Reserve Board, September 29, 1927. CONDITION OF FEDERAL RESERVE BANKS The consolidated statement of condition of the Federal reserve banks on September 28, made public "by the Federal Reserve Board, shows i n c r e a s e s f o r tjie week of $50,000,000 i n t i l l and s e c u r i t y holdings, of $25,500,000 i n member bank reserve d e p o s i t s , and of $5,200,000 i n Federal reserve note c i r c u l a t i o n , and a decrease of $7,400,000 i n cash r e s e r v e s . Holdings of a l l c l a s s e s of b i l l s and s e c u r i t i e s were l a r g e r than f o r the previous week - discounted b i l l s by $15,700,000, acceptances purchased i n open market by $23,500,000 and Government s e c u r i t i e s by $10,800,000. The Federal reserve bank of New York r e p o r t s an increase f o r the week of $25,200,000 i n discounts, San Francisco an increase of $5,500,000, and Boston of $3,200,000, while the Cleveland bank shows a decline i n discount holdings of $6,500,000 and A t l a n t a of $-1,500,000. All but two of the Federal reserve banks report l a r g e r holdings of acceptances purchased i n open market, the p r i n c i p a l i n c r e a s e s being $13,500,000 a t the New York bank, $3,500,000 at Richmond, and $2,800,000 at Boston. The System1 s holdings of Treasury notes were $7,400,000 a$d of Treasury c e r t i f i c a t e s $3,600,000 above the preceding week's t o t a l s . 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 a decrease of $4,100,000 reported by the Federal Reserve Bank of Chicago and i n c r e a s e s of $3,600,000 and $3,200,000, r e s p e c t i v e l y , by New York and 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 September 28, 1927, follows: Increase or decrease during Week Year $7,4oo,ooo + $189,000,000 + 181,700,000 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 + 50,000,000 + 15,700,000 + 11,100,000 + 4,700,000 - i4s,3oo,ooo 4- 23,500,000 - 33,500,000 B i l l s bought i n open market . . . . 5,300,000 U. S. Government s e c u r i t i e s , t o t a l . + 1 0 , 8 0 0 , 0 0 0 Bonds 200,000 Treasury notes 4. 7,400,000 C e r t i f i c a t e s of indebtedness . . . 4 3 , 6 0 0 , 0 0 0 Federal reserve notes i n c i r c u l a t i o n . + 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 + 27,100,000 C. 5,200,000 4. 2 5 , 5 0 0 , 0 0 0 . -f 1 , 6 0 0 , 0 0 0 — - + 130,400,000 286,300,000 ,138,000,000 - 192,300,000 198,200,000 3,700,000 2,100,000 - 10,700,000 + - + -f - 59,400,000 87,700,000 27,200,000 Released, f o r p u b l i c a t i o n Friday morning, September 30, 1927;not e a r l i e r . St. 5517a- RE SOURCES AMD LIABILITIES 0? THE TVilLVE FED3EAL BE SERVE BMKS COMBINED ( i n thousands of d o l l a r s ) RESOURCES G-qld. with Federal reserve agents . . . . Gold redemption fund With U.S.Treasury . Gold held exclusively against F.R.notes Gold settlement fund frith F. R. Board . Gold and gold c e r t i f i c a t e s hold by banks Reserves other than gold . . . . . . . Total r e s e r v e s . . . . . "Jon-re serve 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 . 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 note C e r t i f i c a t e s of indebtedness . . . . . 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 Sept. 28.1927 Sept. 21.1927 Sept. 29.1926 1,630,529 48,010 1,678,539 639,749 670,565 2,988,853 1,657,755 55,159 1,712,91'+ 614,774 137,352 3,126,205 51,593 139,436 1,359,115 65,555 - 1,424,670 762,134 620,337 2,807,141 130,113 3,133,632 53,646 2,937,254 49,838 216,936 197,629 414,565 365,993 350,637 218,660 275,623 253,741 127,133 102,664 55,322 138,305 108,4l4 228,011 202,301 430,312 242,148 666,508 2,994,196 716,630 253,515 134,559 106,278 494,35 2 820 1,167,632 1,049 653,183 59,609 13,208 483,543 820 302,o4i 1,117,583 823 720,040 59,580 14,052 1,297,994 648 675,918 5,072,479 5,099,361 5,035,363 F. R. notes i n a c t u a l c i r c u l a t i o n . . . Depo s i t s : Member bank - reserve account . . . . Government Foreign bank Other d e p o s i t s 1,705,765 1,700,522 1,716,466 2,336,548 24,507 5,791 2,311,070 2,248,876 51,703 22,922 22,894 5,519 23,217 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 2,389,768 2,362,700 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 3,700 60,007 13,704 L I A B I L I T I E S TOTAL LIABILITIES 602,290 130,960 14,921 5,072,479 5,099,361 228,775 . . . . . . 662,030 130,866 228,775 14,468 11,829 17,973 2,330,336 624,068 123,796 220,310 20,337 5,035,363 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 . . 76.3^ 77.156 72.6$ 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 186,455 182,582 45,296 C. HE SOURCES AND LIABILITIES OF THE FEDERAL RESERVE BMKS ON SEPTEMBER 28, 1927 RESOURCES Gold with Federal Reserve Agents (lr thous!mils of St. 5517b 4ollars) ' Total Boston New York P h i l a . Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 1,630,529 135,193 301,214 133,235 218,544 30,535 l6l,858 273,483 28,296 55,025 58,349 39.193 195,6o4 Gold, redemption f u n d with. U. S.Treas. 48,010 11,^60 13,76& 0,132 4,059 1,77^ 1>H5 2,112 1,372 1,7^3 1,220 314,980 139,367 222,603 32,309 163,408.274,598 30,408 56,397 60,132 4O,4L3 13,669 14,777 9,971 6,871 54,O48 12,107 Gold held exclusively against F. R. n o t e s ^ 1,678,539 146,753' Gold settlement fund with F.R.Board 6 3 9 , 7 4 9 Gold and gold c e r t i f . held by "banks 6 7 0 , 5 6 5 34,930 253,703 43,496 12,4IO 7,033 - 429,6b! 52,270 33 , 285 28,812 33,765 16,266 7,444 214,968 1,008,,344 211,675 308,638 7,797 9,338 Total gold reserves Reserves other than gold Total reserves Non-reserve cash B i l l s discounted: 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 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 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 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 Bank p r e m i s e s All o t h e r r e s o u r c e s TOTAL RESOURCES ,D 2,988,853 137,352 13,732 25,307 3,126,205 228,700 1,033,651 219,472 317,976 120,113 58,098 60,985 1 7 7 , 8 8 5 452,809 5,300 12,638 22,680 66,285 190,523 475,489 23,195 16,708 8,042 7,'^1 78,045 91,369 64,562 265,525 4,34 2 6 , 282 66,155 3,053 82,387 1,008 97,651 2,853 15,594 15,159 851 2,525 8,980 2,198 1,568 4,018 16,752 19,415 3,376 8,636 11,178 10,104 5,586 11,385 36,167 12,992 19,530 8,115 6,594 17,482 7,085 5,485 26,036 10,895 34,239 30,052 45,801 51,593 5,949 l4,611 817 3,147 3,676 3,743 7,611 228,011 202,301 17,327 lb,594 87,078 61,305 22,623 12,980 26,431 9,953 11,042 17,185 5,683 22,462 13,725 430,312 242,148 33,921 24,319 148,383 84,011 35,603 11,633 36,384 17,003 28,227 27,101 28,145 34,589 4,596 .25,506 28,753 4,862 253,515 134,559 106,278 11,091 6,202 6,250 42,292 27,837 24,735 13,341 9,334 12,704 32,810 12,596 13,766 7,257 7,602 7,805 6,205 3,712 2,940 42,846 18,169 21,655 11,555 6,315 11,117 7,146 3,774 494,352 820 23,543 94,864 35,379 54,381 77,705 36,039 22,037 1,167,632 81,783 327,258 1,049 653,183 57 60,248 3,946 70 504 72 160,898 16,276 57,121 59,609 13,208 — — 4,o4i 5,072,479 380,753 1 , 5 5 7 , 2 3 9 82,615 107,768 80 61,949 7,119 1,030 12,857 300 - — 1,749 113 27,455 82,783 39 56,337 2,465 433 20,864 13,204 - 137,800 104 31 27,822 76,703 8,602 2,901 l,46o 1,471 45,898 19f,171 520 - 69,654 34,569 32 23 14,249 2,774 32,210 3,957 882 1,669 8^214 37,445 30,909 9_,6l5 72,776 275,1^0 2,988 2,137 — 55,521 47,023 26 28 27,28b 37,559 1,827 4,474 618 531 8,870 — 94,960 53 40,801 3,519 890 361,959 499,069 212,018 272,378 7 0 7 , 7 8 0 1 7 5 , 9 4 3 136,679 198,617 151,693 4 1 8 , 3 5 1 EGiSOUECES" AND LIABILITIES 0? THE W"SBPTBMB3R 28, 1927. ( i n 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. F.R.notes i n a c t u a l c i r c u l a t i o n 1,705,765 141,359 363,721 13^,487 213,028 63,676 162,126 241,369 44,917 59,438 Deposits: Member "bank - reserve account 2,336,548 151,795 929,666 137,724 185,061 70,880 67,057 341,880 79.216 50,787 Government 24,507 691 5,290 1,337 1,646 3,462 i,44o 3,567 1,062 1,656 Foreign "bank 5,791 436 1,585 559 617 303 238 803 250 175 Other deposits 22,922 86 15,604 147 1,256 104 60 i.i46 270 210 Total deposits 2,389.768 153,008 952,145 139,767 188,580 74,749 68,795 347,396 80,798 52,828 d e f e r r e d a v a i l a b i l i t y items 602,290 58,775 136,692 52,741 58,225 54,260 25,907 67,133 33.740 12,902 Capital paid i n 130,960 9,466 39,598 13,221 13,939 6,253 5,1^0 17,305 5,291 3,002 Surplus 228,775 17,606 6i,6l4 21,267 23,746 12,198 9,632 31,881 9,939 7,527 fill other l i a b i l i t i e s 14.921 539 3.469 476 1.551 882 778 2.6Q6 1.258 482 TOTAL LIABILITIES 5,072,479 380,753 1,557,239 361,959 499,069 212,018 272,378 707,780 175,943 136,679 Reserve r a t i o (per c e n t ) 76.3 78.6 80.0 79-2 77.7 47.9 82.5 80.8 52.6 73.4 Contingent l i a b i l i t y on h i l l s p u r chased f o r f o r e i g n correspondents 186,455 13,803 53,391 17,668 19,509 9,570 7,5^6 25,398 7,914 5,521 P.R.notes on hand ( n o tes r e e ' d from F.E.Agent l e s s notes i n circulation)4o6,197 32,721 121,322 32,748 41,579 9,010 3i,so4 51,313 9,284 5,oo4 FEDERAL RESERVE MOTE ACCOUNTS OF FEDERAL EESEEVE AGENTS F.R.notes r e e ' d from Comptroller 2,918,127 237,280 777,123 210,235 276,597 105,350 247,010 438,782 72,121 86,271 I .E.notes held "by F. R. Agent 806,165 63,200 292,080 43,000 21,990 32,664 53,080 146,100 17,920 a.829 TP R. note ft issued t o F.E.Bank 2,111,962 174,080 485,043 167,235 254,607 72,686 193,930 292,682 54,201 64,442 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 411,830 35,300 215,150 4o,ooo 25,223 18,117 8,100 12,267 Gold redemption fund 91,210 10,893 21,064 10,358 13,544 3,562 6,o4l 1,483 1,196 758 Gold fund - F» R. Board 1,127,489 89,000 65,000 122,877 165,000 1,750 137,700 272,000 19,000 42,000 E l i g i b l e paper 634,517 58,240 215,443 37,850 50,490 51,922 32,132 58,453 32,992 11.568 St. 5517c L I A B I L I T I E S Total c o l l a t e r a l E l l i 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 yi-mcipal.-i/arratttesjv ^ v ?.: . . Kans.Cy. Dallas San Fran, 63,706 47,296 170,642 85,212 60,892 176,378 1,364 2,032 960 203 407 215 160 34 3.845 86,951 63,161 181,590 33,951 28,128 39,836 4,220 4,283 9,242 9,029 8,215 16,121 760 610 920 198,617 151,693 418,351 64.8 65.9 78.1 6,810 6,442 12,883 9,760 7,846 53,806 111,366 71,044 284,948 73,466 55,142 224,448 37.900 15.902 60.500 4,489 53,860 17,673 40,000 3,520 14,302 18,000 i 4 r , 3 0 2 20,787 16.542 48.098 66,593 79,136 55,735 243,702 2,265,046 193,433 516,657 171,085 269,034 82,457 193,990 331,936 61,288 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS Total 430,312 242,1*48 106,278 20 Within 15 days m l6 to 30 days 31 to 60 days 6l to 90 days i g:S5§ 8 : $ ftB? — 20 1,442 - - — - — Over 6 months W 104,836 — 149
@FedFRASER