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STATELIEST FOE THE PRESS Released f o r p u b l i c a t i o n Friday morning, Dec. l 4 ; not e a r l i e r . St. o007 Federal Reserve Board December 13, 1928. CONDITION OF FEDERAL RESERVE BANKS The consolidated statement of condition of the Federal reserve "banks on December 12, .•made public by the Federal Reserve Board, shows i n c r e a s e s f o r the week of $'16,200,000 in holdings of discounted b i l l s , $l6,o00,000 in b i l l s bought i n open market, $8,700,000 in U. S. s e c u r i t i e s , $26,500,000 in member bank reserve d e p o s i t s , $23,900,000 i n Federal reserve note c i r c u l a t i o n and $8,700.,000 in cash 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 were $4l,500,000 above the amount held on December 5« The. p r i n c i p a l changes in holdings of discounted b i l l s f o r the week were i n c r e a s e s of $30,600,000 a t the Federal Reserve Bank of Cleveland, $l4,000,000 a t P h i l a d e l p h i a , $6,200,000 a t Boston, and $5,700,000 a t Richmond, and decreases of $17,100,000 a t Chicago, ipl6,500,000 a t San Francisco and $4,900,000 a t A t l a n t a . Tho System's holdings of b i l l s bought i n open market increased $lS,o00,000 and of Treasury c e r t i f i c a t e s $10,500,000, while holdings of Treasury notes show a decrease of $1,800,000 and holdings of U. S. bonds remained p r a c t i c a l l y unchanged. Federal reserve note c i r c u l a t i o n increased $6,100,000 a t the Federal Reserve Bank of Cleveland, $5,900,000 a t P h i l a d e l p h i a , $5,300,000 a t Boston, $3.900*,000 a t Chicago and $1,500,000 a t Kansas City, and declined $1,900,000 at Atlanta. A summary of t h e 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 12, 1928, follows; (In thousands of d o l l a r s ) » Doc. 12 1928 Total r e s e r v e s . Gold r e s e r v e s 2,745,253 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 1,762,597 B i l l s bought i n open market 2,626,975 . . . 1,028,352 650,795 377,557 494,323 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 . . 235,507 53,497 116,173 65,837 Federal reserve notes i n c i r c u l a t i o n 1,813,720 Total deposit* Members' reserve d e p o s i t s . . . . Government deposits . . . . . . . 2,465,967 C. 2,408,967 29,724 Increase or decrease during Week Year 8,721 + + 9,375 + 41,473 - 4- 287,654 4- + 16,170 15,069 31,239 + + 16,553 + + - + 8,725 2 1,758 10,512 + 23,875 + - + + + 30,295 26,63s 3,848 172,113 165,227 + - + - 533,379 303,209 230,170 113,198 362,388 217,483 56,928 201,833 + 46,985 + 17,988 - + 9,605 25,684 Released, f o r p u b l i c a t i o n Friday morning,December l4,1928; not e a r l i e r . St. 6007 ft EESOURCES A53 LIABILITIES OF THE TWELVE JEDBBAL RESERVE BMKS COMBINED ( i n thousands of d o l l a r s ) Dec. 12,1928 Dec. 5,1928 Dec. l4,1927 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.note? 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 B i l l s discounted; Sec. by U. S. Government o b l i g a t i o n s . . Total b i l l s discounted . . . . . B i l l s bought in open market r J. S. Government s e c u r i t i e s : 1,172,296 77,666 1,150,080 73,150 1,585,009 47,952 1,249,962 1,632,961 730,827 646,186 1,223,230 768,422 625,948 2,626,975 2,617,600 118,878 119,532 2,792,202 125,764 2,745,853 6o,o46 2,737,132 53,028 2,917,966 56,310 650,795 377,557 665,664 346,318 347,586 147,387 1,028,352 1,012,182 494,973 381,125 494,323 53,497 116,173 65,837 Treasury notes C e r t i f i c a t e s of indebtedness 477,770 53,499 487,463 671,778 117,958 55,325 270,980 59,245 267,670 235,507 4,4i5 226,782 4,390 597,895 950 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 . . . 1,762,597 1,721,124 795,957 726 *747,261 60,601 10,699 1,474,943 TOTAL RESOURCES 5,435,846 *5,330,571 5,353,632 1,813,720 1,789,845 1,766,735 2,408,967 2,382,329 2,418,572 4,o4o 4,473 Total U.S. Government s e c u r i t i e s 726 60,606 10,061 566 828,912 60,176 14,759 L I A B I L I T I E S F. R. notes in a c t u a l c i r c u l a t i o n Deposits: Member bank - reserve account . . . . 29,724 7,059 20,217 25,876 6,023 21,444 2,465,967 2,435,672 Deferred a v a i l a b i l i t y items Capital p a i d in . . . . . Surplus 735,ooo 146,868 233,319 4o,972 685,663 146,801 233,319 *39,271 TOTAL LIABILITIES 5,435,846 *5,330,571 20,894 2,447,979 758,776 132,315 228,775 19,052 5,353,632 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 . . . . 64.2^ 64.8$ 69.2$ 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 . . . . . . . 284,014 279,488 201,112 •Revised f i g u r e s . C. RE S O U R C E S RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BANKS OH DECE.3ER 12, 1928 ( i n thousands of d o l l a r s ) Total Boston Hew York P h i l a . CIeve. Gold with Federal Reserve Agents 1,172,296 118,569 169,300 100,265 118,256 Gold redemption fund with U.S.Treas. 77,666 6,21% 18,650 8,%6l 6,900 Gold h e l d exclusively a g a i n s t F. r . n o t e s i,2%9,962 Gold settlement fund v/ith F.R.Board 730,827 Gold and gold c e r t i f . held 'by banks 6%6,18b Total gold reserves Reserves o t h e r than gold 12%,783 %2,627 %0,273 2,626,975 207,683 118,878 l6,l6% Total r e s e r v e s 2,7%5,S53 223,S%7 ITon-reserve cash 60,0%6 10,906 B i l l s discounted: Secured "by U.S.Govt, o b l i g a t i o n s 650,795 29,6%7 Other "bills discounted 377,557 28,312 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. 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 Dae from f o r e i g n banks Uncollected items Bank premises All other TOTAL RESOURCES c. 1,028,352 53,%59 %9%,323 %3,500 689 2,892 187,950 21%,172 4q%,%28 108,726 125,156 52,115 26,183 %3,977 %3,253 St. 6007b Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 51,318 85,769 213,%76 33,%09 %8,523 39>0%9 23,18% 171,178 3,2%2 %,559 12,757 5,8%6 2,%73 2,617 2,%20 3,527 90,328 226,233 39,255 50,996 %i,666 25,60% 17%,705 22,696 15,177 155,523 27,470 26,630 5%,%2% 32,767 %3,2%9 5%,56o 10,711 5,377 58,78% 9,376 %,909 6,232 7,228 29,%32 806,550 187,02% 212,386 21^00% %,055 9,%55 87,967 110,882 %%0,5%0 76,101 10,66% 11,%30 15,531 82,535 102,322 2,098 5,303 65,599 2%7,386 5,%18 11,697 227,55% 191,079 221,8%! 17,37% 1,003 3,287 9%,026 121,5%6 %51,970 91,632 3,%oi 6,91% 2,921 3,930 8%,633 107,625 1,117 1,987 71,017 2,570 259,083 16,603 112,59% 22,077 8,762 13,51% 10,892 38,231 61,293 15,%%2 2,591 25,3%i 6,%73 326,926 90,259 119,223 39,26% 5%,88% 173,887 37,519 11,353 %3,855 17,365 171,176 15,057 5%,36o 26,%90 30,113 %0,%68 11,097 20,013 5,621 2%,331 25,507 29,351 2%5,151 81,775 6,059 65,51% 76,982 18,552 2%,7%5 %2,2%1 20,712 %,136 55,358 51,592 7,125 %,519 7,755 9,%13 3%5 19,937 %5 1,063 3,503 6,015 11,%%1 4,527- 902 %,185 12,892 22,293 1,336 3,779 1,38% 8,761 2,535 1,90% 1,075 2,736 %2,%% 235,507 7,360 3,601 53,957 21,529 33,817 5,232 3%,713 21,101 10,950 9,732 16,33% 17,181 200 %,%15 155 560 3,500 1,762,597 109,319 552,259 127,000 207,900 69,355 90,229 2%9,O6S 69,717 %2,881 59,208 61,530 12%,131 %Q 726 37 20 62 21 375 25 18 51 13 17 35 225,622 67,282 70,19% 60,798 26,935 9%,316 3%,%75 16,693 %3,98% 33,%7% %%,698 795,957 77,%26 60,606 3,82% 16,672 1,752 6,803 3,703 2,867 8,720 3,95% 2,202 %,308 1,962 3,828 10,061 157 1,590 29% 1 ,%22 %66 2,491 3%0 528 %05 752 %59 657 5,%35,8%6 %25,516 1,6%2,012 388,%56 511,503 232,296 2%7,l+89 811,896 203,2%8 i%8,291 217,535 171,036 %36,56S 53,%97 116,173 65,837 - 1,38% 30,220 585 10,135 10,309 5%S 28,338 %,93l - 1,152 - - - — L I A B I L I T I E S EE SOURCES AND LIABILITIES OF THE FEDERAL RESERVE B ANKS ON DECEMBER 12, 1Q2S (in thousands of d o l l a r s ) St. 600Jc %% F.R.notes in a c t u a l c i r c u l a t i o n ™ a c c % Deposits: Member bank — reserve account 2,1+03,967150,071 Government 93,300 74,326 180,105 29,724 2,593 " i : S "?:?g 1 3 1 : 3 ' a g Foreign t a n k 1,758 2,300 4,619 7,059 518 2,099 656 718 352 290 960 Other d e p o s i t s 297 187 249 242 491 20,217 95 8,262 172 729 111 174 1,020 616 246 271 82 8,439 Total d e p o s i t s 2,465,967 153,277 9 7 6 , i 4 i 136,365 183,541 70,892 72,185 361,599 87,675 58,110 Deferred a v a i l a b i l i t y items 95,578 76,950 193,654 735,000 74,983 198,734 61,098 66,606 57,082 24,369 86,196 35,844 i 4 , 4 i 3 Capital paid in 146,868 10,156 50,098 14,536 14,422 6,117 5,231 18,481 5,403 3,009 39,103 32,192 44,380 Surplus 4,217 4,329 10,869 233,319 17,893 63,007 21,662 24,021 12,324 9,996 32,778 10,397 7,039 All other l i a b i l i t i e s 9,046 8,527 16,629 40,972 2,388 13,374 2,843 4,o46 1,846 1,413 998 2,102 TOTAL LIABILITIES Reserve r a t i o (per c e n t ) 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 284,014 21,165 81,398 26,809 29,34s 14,392 .11,852 39,225 12,134 7,619 10,159 F.R.notes on hand ( n o t e s r e c ' d from 9,877 20,036 F.R.Agent l e s s notes i n c i r c u l a t i o n ) 4 2 9 , 1 0 5 31,547 l4o,171 26,713 30,352 17,082 36,557 44,726 12,868 8,445 10,40S 10,368 59,868 FEDERAL RESERVE MOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F.R.notes r e c ' d from Comptroller 2,989,120 24l,4l6 F.R.notes held by F.R. Agent70,295 323,602 746,295 43,050 S 11,887 94,800 F.R.notes issued to F.R.Bank 2,242,825 198,366 169,739 351,320 74,984 2 , 7 t o 78,586 5s, 180,829 178,665 21)9,219 101,117 7 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 341,207 35,300 50,000 6,690 26,750 Gold redemption fund 7,600 14,167 101,890 15,269 i4s,4o7 17,293 35,000 15,893 11,483 13,256 5,628 7,519 -2,476 2,809 Gold fund - F. R. Board 2,356 3,689 3,891 17,616 729,199 6s,000 8 777 55,000 39 000 o' ' 51,500 211,000 23,000 32,000 35,360 E l i g i b l e paper 2,000 113,562 1,443,842 101,939 446,607 92,953 171,930 57,225 84,931 214,171 48,601 29,069 48,983 41,673 105,760 Total c o l l a t e r a l 2,616,13s 220,508 01^,907 193,218 290,136 108,543 170,700 427,647 .. JVC 0088,032 U)d 82,010 77,592 64,857 276,93s illTURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS %:l°4 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 Municipal warrants Total Within 15 days 1,028,352 386,179 494,323 175,007 65,837 10,126 215 125 l 6 to 30 days 38,723 95,793 90 31 to 60 days 54,253 147,077 6l to 90 c 1 - 31,323 72,446 91 days to 6 months 16,874 4,000 52,908 Over 6 moriths 995 2,303
@FedFRASER