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statement f o r the press Released f o r p u b l i c a t i o n Friday' morning, Dec. 13; not e a r l i e r . S t . 64l4 Federal Reserve Board, December 12, 1929. CONDITION OF FEDERAL RESERVE BANKS The c o n s o l i d a t e d statement of condition of the Federal r e s e r v e t a n k s on December 11, made p u b l i c "by t h e . F e d e r a l Reserve Board, shows a decrease f o r the week of $103,400,000 i n holdings of discounted h i l l s and i n c r e a s e s of $65,300,000 in holdings of b i l l s bought i n open market and of $31,300,000 i n United S t a t e s s e c u r i t i e s . Member bank r e s e r v e d e p o s i t s declined $4,000,000, Government d e p o s i t s $22,000,000, cash r e s e r v e s $28,900,000 and Federal r e s e r v e note c i r c u l a t i o n $20,200,000. Total b i l l s and s e c u r i t i e s were $11,400,000 below the amount r e p o r t e d a week ago. Holdings of discounted b i l l s increased $24,900,000 a t the Federal Reserve Bank of Hew York and d e c l i n e d $39,700,000 a t Chicago, $26,000,000 a t P h i l a d e l p h i a , $12,400,000 a t San F r a n c i s c o , $10,900,000 a t Kansas City and $9,100,000 a t Minneapolis. The .System's holdings of b i l l s bought i n open market inc re ase d $65,300,000, of United S t a t e s bonds $13,000,000, Treasury n o t e s $10,000,000 and Treasury c e r t i f i c a t e s $8,800,000. ' 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 include decreases of $2$,100,000 a t the Federal Reserve Bank of Hew York, $4,400,000 a t Chicago and $3,000,000 a t A t l a n t a , and i n c r e a s e s of $7,000,000 a t P h i l a d e l p h i a and $6,600,000 at Cleveland. A summary of the p r i n c i p a l a s s e t s and l i a b i l i t i e s of the r e s e r v e banks, together with changes during the week and the year ending December 11, 1929, follows: I n c r e a s e or decrease since Dec. 11. 1929 Dec. 4. 1929 Dec 12*1928 ( i n thousands of d o l l a r s ) . Total r e s e r v e s . . . . . . Gold r e s e r v e s . . . . . . . . . . . . . 3,109,867 Total b i l l s and s e c u r i t i e s 1,491,299 768,922 . . B i l l s discounted, t o t a l Secured by U.S.Govt, o b l i g a t i o n s . . . Other b i l l s discounted B i l l s bought i n open market — 2,964,i4g - — 398,729 370,193 28,881 28,818 + 364,oi4 + 337,173 11,371 - 271,29s 103,388 26,203 77,185 - 252,066 - 259,430 - 7,364 . . . . . . „ 321,840 + 65,322 U. S. Government s e c u r i t i e s , t o t a l . . . , Bonds . Treasury n o t e s C e r t i f i c a t e s of indebtedness . . , . . . 386,934 50,971 193,374 142,589 + + + + 31,790 13,0l6 9,961 8,813 Federal r e s e r v e n o t e s in c i r c u l a t i o n . .' 1,918,314 - 20,156 + 104,594 . . 2,425,693 - 26,990 4,017 22,036 - Total d e p o s i t s . Members' r e s e r v e d e p o s i t s Government d e p o s i t s . . . . . . . . C 2,396,984 3,310 - 172,483 + 151,427 - 2,526 + 77,201 + 76,752 4O,274 11,983 26,4I4 Released for p u b l i c a t i o n Friday morning, December 13, 192$; not e a r l i e r . St.64l4a RESOURCES AID LIABILITIES OP THE TTVELVE FEDERAL RESERVE BANKS COMBINED ( i n thousands o f ^ d o l l a r s ) Dec, 11,1929 Dec . 4.1929 Dec.' 12. 1928 RESOURCES Gold with Federal r e s e r v e agents . . . . Gold redemption fund with U.S.Treasury . Gold held 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 held "by banks Total gold r e s e r v e s . . . . . . . Reserves other than gold Total r e s e r v e s . 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 . . . . . . . Total b i l l s discounted . . . . . B i l l s bought in 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 . . . . 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 . . . . . All other r e s o u r c e s , . , TOTAL RESOURCES 1,628,207 76,787 1,704,994 523,502 735,652 2,964,148 1^,719 3,109,867 76,472 398,729 370,193 1,642,065 76,287 1,172,296 145,782 3,138,748 79,883 118,878 77,666 1,718,352 1,249,962 550,717 730,827 646,186 723,897 2,992,966 2,626,975 2,745,853 60,o46 768,922 424,932 447,378 872,310 650,795 377,557 1,028,352 494,323 50,971 193,374 142,589 386,934 37,955 183,413 ' 133,776 355,144 53,497 116,173 65,837 235,507 4,415 321,s4o 13,603 1,491,299 724 256,518 18,698 1,502,670 1,762,597 724 689,918 726 795,957 5,433,322 5,483,042 5,435,846 1,918,314 1,938,470 1,813,720 2,396,984 3,310 5,880 19,519 2,401,001 25,346 5,774 2,408,967 2,425,693 20,562 7,059 20,217 2,452,683 620,399 168,357 2,465,967 168,388 682,767 59,172 13,021 60,606 59,171 L I A B I L I T I E S 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 d e p o s i t s Total deposits . . . . . . Deferred a v a i l a b i l i t y items . . . Capital paid i n Surplus . . . . A l l other l i a b i l i t i e s 1'OTAL 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 . . . Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents 254,39s 46,161 5,433,322 71.6$ 29,724 623,940 254,39s 735,000 146,868 233,319 40,972 45,163 5,483,042 5,435,846 71.5% • 64.2# 0 517,659 505,492^ 284,014 RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS OH DECEMBER 11, 1929 (In thousands of d o l l a r s ) Total Boston Hew York P h i l a . Cleve. Rich. Atlanta Chicago St.Louis Gold with Federal Reserve Agents 1,628,207 224,917 314,913 115,000 114,900 71,190 113,280 269,564 77,800 Gold redemption fund with U.S.Treasury 76,787 6,928 l6,8l4 4,920 6,493 3,120 4,l69 11,420 6,734 Gold h e l d 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 1,704,994 231,845 331,727 119,920 121,393 74,370 117,449 280,984 84,534 Gold s e t t l e m e n t fund with F.R.Board 523,502 25,066 98,253 42,543 84,923 18,045 6,305 9^,944 26,972 Gold and gold c e r t i f . h e l d by banks 735,652 30,783 458,232 43,333 4q,q52 11,254 3,383 94,738 6,268 Total gold r e s e r v e s 2,964,148 287,694 888,212 205,796 246,368 103,669 127,137 470,666 117,774 Reserves other than gold 145,719 i4,966 43,303 10,433 6,715 5,133 17,276 11,671 9,831 Total r e s e r v e s 3,109,867 302,660 931,515 216,229 253,083 108,802 i 4 4 , 4 i 3 482,337 127,605 Non-reserve cash 76,472 11,780 24,34o 2,303 3,539 5,189 4,365 8,000 4,598 St. 64l4b RESOURCES ^ 1 S e c u r e ^ b y 1 U * S!GOv$. 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 398,729 370,193 109,744 45,533 155,277 145,180 34,4oi 38,723 73,124 8,052 102,774 321,s4o 19,299 20,488 39,787 11,647 50,971 193»374 142,589 386,934 1,923 5>337 10,034 17,344 4,772 114,967 65,096 184,835 1,910 13,021 17,678 32,669 2,087 11,230 4,259 17,576 768,922 55,271 47,503 27,470 T J. 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 indebtedness 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 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 * mk premises A l l ' o t h e r resources TOTAL RESOURCES Minn. Kans.Cy. Dallas San Fran. 54,157 50,000 30,72] 191,763 3,970 3,24l 2,459 6,459 . ^ 58,127 53,24i 33,182 193,222 20,807 43,599 24,486 37,559 5,270 5,567 9,031 27,741 84,204 102,407 66,699 263,522 2,629 5,139 5x602 13,021 86,833 107,546 72,301 276,543 1,957 2,105 2,560 5,736 11,078 26,905 6,183 38,562 64,937 15,092 7,922 19,289 16,239 18,395 35,835 2,203 3,4l2 15,704 26 3,377 5,380 8,783 22,304 10,501 19,289 1,598 12,154 7,951 5,252 5*319 1,862 12,433 i,353_ 4,383 51,130 9,557 28,146 „ . 8,545 ^3 5,454 2,800—P,98j3 3,063 19,982 68 10,oOO 1,216 11,884 54,498 14,732 12,858 32,847 37,983 44,745 119,435 29,824 20,780 52,136 , , 2,486 1,o4i l,04l 4,568 - 52,094 21,703 - 16,479 21,065 20,862 72,195 13,603 1,000 7,100 1,150 1,500 1,500 1,491,299 69,778 492,392 114,995 149,320 58,790 71,923 208,864 53,730 37,978 70,903 50,401 112,225 724 54 219 70 74 33 28 99 29 18 24 24 52 682,767 68,157 179,621 57,638 61,027 52,518 21,213 82,471 32,686 15,059 42,348 29,646 1^,383 59,172 3,702 16,087 1,762 6,535 3,395 2,744 8,529 3,997 2,110 4,140 1,922 4,249 13,021 130 4,466 233 1,189 615 3,770 596 386 591 155 367 523 5,433,322 456,261 i , 6 4 8 , 6 4 o 393,230 474,767 229,342 248,456 790,896 223,031 144,546 227,221 157,221 439,711 RESOURCES M D LIABILITIES OF THE FEDERAL RESERVE BMK'S',0ir™nHJCE3BEEr"'Tl, I 9 2 9 L I A B I L I T I E S 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 2,396,934 3,310 Government 5,880 Foreign bank Other d e p o s i t s 19,519 Total deposits 2,425,693 Deferred a v a i l a b i l i t y items 620,399 168,357 C a p i t a l p a i d in 254,393 Surplus 46,161 All other l i a b i l i t i e s 5,433,322 TOx'AI LIABILITIES Reserve r a t i o (ppr c e n t ) 71,6 Contingent l i a b i l i t y on o i l I s p u r 517,659 chased f o r forei^gp correspondents F.IUnotes on hand (notes r e c ' d from F.R,Agent l e s s notes in c i r c u l a t i o n ) 5 3 9 , 8 7 2 F„R.notes r e c ' d from Comptroller F,R a 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 fund - F. R. Board E l i g i b l e paper Total c o l l a t e r a l 148,318 i,oi2,4o3 131,825 179,292 64,24o 8 116 857 30 437 2,202 390 243 507 538 245 106 7,289 113 1,759 143,961 1,022,751 132,468 132,026 64,712 61,722 34o,5o4 73,683 53,966 87,369 64,4o6 174,256 481 152 51 770 227 103 78 206 211 723 132 174 174 380 110 665 212 6s 32 8,621 299 62,519 341,943 79,345 55,080 87,833 64,715 183,335 49,18b 20,319 74,215 33,167 12,347 36,032 29,065 38,128 6,086 5,334 20,034 5,267 3,037 4,284 4,462 i i , 4 i 8 36,442 10,820 10,554 7,032 12,399 9,086 8,690 17,978 2,192 3,164 7,062 2,234 l , 5 b 2 1,685 1,275 2,606 229,342 243,456 790,596 223,031 144,546 227,221 157,221 439,711 63.2 69.\ 73.8 74.4 72.1 61.1 63.6 74.8 66,238 152,464 52,499 56,239 11,318 64,589 16,482 15,646 19,619 71,282 24,101 26,345 2,690 13,902 3,356 4,430 456,261 1,643,640 393,230 474,767 84.9 69.2 72.9 6s.o 84.9 38,239 157,489 49,607 52,708 23,770 20,153 70,794 20,670 53,174 221,395 18,669 23,054 20,362 30,281 61,394 15,233 3,687,654 333,859 1,229,46s 73,250 2,458,186 260,609 342,937 35,300 1,235,270 189,617 1,044,119 51,357 2,672,326 276,274 Total B i l l s discounted B i l l s bought in open market C e r t i f i c a t e s of indebtedness Municioal warrants ' St. 64l4c (In thousands of d o l l a r s ) Total Boston New York P h i l a . Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 1,918,314 207,435 323,352 164,324 190,081 94^767 i 4 6 , o i 6 311,200 92,198 65,388 88,293 49,oi4 156,246 763,922 321,840 142,589 253 12,918 6,908 17,053 17,053 37,205 12,481 8,566 67,355 FEDERAL RESERVE "TOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 135,281 124,898 137,434 77,852 366,4oi 412,650 59,66o 109,580 56,824 106,220 161,600 27,850 52,602 36,660 20,272 112,300 544,747 182,993 213,135 115,129 176,297 373,094 107,431 72,296 100,774 57,580 254,101 957,397 242,653 322,715 171,953 232,517 534,694 28,600 14,900 16,190 7,480 7,800 14,157 148,626 s6,4oo 100,000 55,000 105,800 269,564 70,000 4o,ooo 50,000 271,170 68,817 128,852 52,07s 63,068 154,974 31,705 23,997 67,489 586,083 133,817 243,752 123,263 176,343 424,533 109,505 *78,154 117,489 166,287 17,223 35,000 13,500 156,763 30,378 100,234 61,101 291,997 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AMD MUNICIPAL W . M T S 91 days to Within 15 days lb to 30 days 31 to 60 days 51 to 90 days Over 6 months 6 months 588,602 60,820 32,669 70,713 15,543 575 176,762 36,346 621 8,803 99,308 62,751 47,242 32,596 125 60 18 50
@FedFRASER