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-STATEMENT FOB THE PRESS Released f o r p u b l i c a t i o n Friday morning, Dec. 21; not e a r l i e r . s t . 6019 Federal Reserve Board, December 20, 1928. CONDITION OF FEDERAL RESERVE BANKS The consolidated statement of condition of the Federal r e s e r v e "banks on December^l9, made public by the Federal Reserve Board, shows decreases f o r the week of $31,600,000 in holdings of discounted b i l l s and of .?4l, 200,000 in b i l l s bought in open market, and an increase of $55,000,000 i n holdings of UV S. Government s e c u r i t i e s . Member bank reserve d e p o s i t s declined $83,100,000, Government d e p o s i t s $24,200,000 and cash r e s e r v e s $22,100,000, while Federal reserve note c i r c u l a t i o n i n c r e a s e d $55>500,000. Total "bills and s e c u r i t i e s were ^61,900,000 below the amount hold on December 12. The p r i n c i p a l changes i n holdings of discounted b i l l s f o r the week wore decreases of $94,100,000 a t the Federal Reserve Bank of New York, $17,200,000 at Cleveland, and $4,000,000 a t Minneapolis, and i n c r e a s e s of $9,700,000 a t San Francisco, $7,600,000 at Philadelphia*, and $6,500,000 at Boston. The System1 s holdings of b i l l s "bought i n open market declined $4-1,200,000 and of Treasury notes $10,900,000, while holdings of Treasury c e r t i f i c a t e s , which included v77,y00,000 of temporary c e r t i f i c a t e s issued "by the Treasury to t h r e e Federal reserve "banks pending the c o l l e c t i o n of the q u a r t e r l y i n s t a l l m e n t of taxes, show an increase of $66,000,000. All of the Federal reserve banks except Boston reported i n c r e a s e s in Federal reserve note c i r c u l a t i o n f o r the week, the p r i n c i p a l i n c r e a s e s being $13,700,000 at the Federal Reserve Bank of Now York, Vll,600,000 a t Chicago, $4,500,000 a t Cleveland, 44,100,000 a t Richmond, and $4,000,000 a t P h i l a d e l p h i a . 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 reserve banks, t o gether with changes during the week and the year ending December 19, 1923, follows: (In thousands of d o l l a r s ) Dec. 19 1923 Total reserves Gold r e s e r v e s 2,723,757 2,614,957 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 1,700,723 9^<? ,710 532,722 363.9S3 B i l l s bought in open market . . . . 453,111 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 . . . 290,542 53,386 105,318 131,838 Federal reserve notes in c i r c u l a t i o n . 1,369,192 Total deposits Members' r e s e r v e deposits Government d e p o s i t s 2,325,379 Increase or decrease during Week Year 22,096 - - - - 4- - 6l,S74 81,642 68,073 13,569 133,785 - 127,366 + 167,863 + 368,554 4- 191,892 176,662 41,212 + 27,339 55,035 111 10,355 + — 297,410 223,004 5i,4ii + + + 66,001 - + 55,472 + 47,860 - 68,456 - 9,936 2,356,426 5,439 12,018 — 109,541 83,088 24,235 125,817 77,577 Released, f o r p u b l i c a t i o n Friday morning, December 21,1928; not e a r l i e r , St. 6016a RESOURCES A"D LIABILITIES OF THE TWELVE PBHCSAL EDSERTC BALTICS COMBIHED (In thousands of d o l l a r s ) Dec. 19,1925 Dec. 12,1923 Dec.21,1927 RESOURCES Gold r d t h F e d e r a l r e s e r v e agents Gold redemption f u n d with U.S. Treasury . 1,263,645 76,435 1,172,296 77,656 1,505,098 53,925 Gold h e l d e x c l u s i v e l y a g a i n s t J . R . n o t e s Gold s e t t l e m e n t f u n d with F. R. Board . . Gold and O o l d c e r t i f i c a t e s h e l d "07 banks . 1,345,130 736,444 533,353 1,24%,962 730,827 646i 186 1,559,023 55^,358 628,942 Total gold r e s e r v e s Reserves o t h e r than g o l d . 2,6l4,957 108,800 2,626,975 118,878 2,742,323 Total reserves . . IT on-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 2,723,757 2,745,853 60,046 2,857,542 582,722 363,938 650,795 377,557 56,973 . 115,219 55,211 Total b i l l s d i s c o u n t e d B i l l s bought i n open market U. S. Government s e c _ r i t i e s : ®onas 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 946,710 453,111 1,023,352 494,323 390,830 187,326 578,156 365,772 53,386 105,313 131,338 53,497 116,173 65,337 276,390 53,907 257,655 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 290,542 10,360 230,507 4,4l5 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 A l l other r e s o u r c e s 1,700,723 727 867,294 1,762,597 587,952 980 3,375 10,Obi 14,462 5,4lS,479 5,435,846 5,280,080 F. R. n o t e s i n a c t u a l c i r c u l a t i o n . . Deposits: Lumber bank - r e s e r v e account . . . . Government . . . Foreign bank Other d e p o s i t s 1,869,192 1,813,720 1,821,332 2,325,379 5 ,*489 5,74-4 19,314 2,408,967 2QJ24 Total d e p o s i t s . . . Deferred a v a i l a b i l i t y items Capital paid in Surplus . A l l other l i a b i l i t i e s 2,356,426 -JJI l4S[s76 233,319 4^ 2,465,967 735,000 l46is6s 233,319 40,972 2,394,335 15,425 4,33s 19,905 2,434,003 TOTAL LIABILITIES 5^418^79 5,435,846 TOTAL RESOURCES 60,630 726 795,957 oo',SoS 1,532,860 569 759,246 60,190 - . L I A B I L I T I E S 7,059 20,217 644,451 132,403 228,775 19,116 5,280,080 Ratio of t o t a l r e s e r v e s to deposit and F. R. n o t e l i a b i l i t i e s combinea . . 64.5$ 64.2$ 67.2$ 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 321,010 284,0l4 223,370 C. RESOURCES ML LIABILITIES OF THE FEDERAL RESERVE BA27KS OH DECEliBER 19, 1928 St. 60l6b ( i n thousands of d o l l a r s ) Total Boston ilotr York Piiila. Cleve. Rich. A t l a n t a Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold r/ith Federal Reserve Agonts 1,268,545 116,838 269,1*77 10? } 531 118,581 50,282 82,$62 213,350 27,836 48,76l 43,537 25,601 163,189 lb,831 8.720 7,128 3,235 4,570 11,377 6,757 1,711 2,672 2,560 3,701 Gold redemption fund \7itli U.S.Troas. 76,4-35 7,223 RESOURCES Gold h e l d e x c l u s i v e l y against 1,345,130 124,Ool F. R. n o t e s Gold settlement fund ",/ith F.E.Board 736,444 25,274 Gold and gold c e r t i f . held by banks 533,383 37,793 Total gold r e s e r v e s 2,614,957 187,12^ 108,800 15,971 PlOserves other than gold Total r e s e r v e s J o n - r e s e r v e cash B i l l s discounted; Sec r e d hy U.S.Govt, 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. Govt. s e c u r i t i e s Other s e c u r i t i e s Total h i l l s ana s e c u r i t i e s Due from f o r e i g n hanks Uncollected i t e n s Bank •orenises All other TOTAL RESOURCES 2,723,757 203,099 9,213 56,973 582,722 363,988 32,776 32,231 946,710 65,007 24,813 56,395 8,827 21,901 4,953 46,556 6,022 2 8 , l o l 166,390 26,124 33,756 7,145 28,908 9,796 14,398 77,326 1,937 93,737 5,136 61,430 234,554 5,078 10,21b 878,064 180,962 231,491 95,676 114,513 442,857 922 3,626 4,202 2,745 6,687 18,593 82,631 79,263 103,923 1,067 1,729 66,508 244,770 16,274 62,016 28,931 35,314 20,451 41,997 232,793 97,825 102,000 39,994 53,271 126,397 15,152 53,359 25,877 30,36s 25,895 15,126 4,378 2,970 41,021 286,008 117,251 125,709 271,921 35,181 55,733 300,353 25,462 41,207 858,787 177,894 222,699 3,06s 8,792 19,277 170,777 453,111 47,116 53,386 105,318 131,838 689 2,892 4,2O4 1,334 18,855 290,542 7,735 107,325 10,360 - 1,700,723 119,908 727 54 867,294 82,674 b0,b30 3,824 8,375 157 37,536 - 68,894 66,6s6 53,517 26,358 10,203 87,532 224,727 34,593 50,472 46,209 11,838 151,939 5,610 90,073 104,980 433,061 68,233 5,593 9,533 19,543 54s 28,338 3,664 1,152 1,063 1,212 367 3,503 1,510 21,079 32,550 3,427 5,380 585 10,135 10,359 125 - 467,015 134,181 187,909 205 69 76 238,025 75,399 79,885 16,678 1,752 6,808 688 • i64 1,100 111,446 64,505 175,951 4i,i44 2,515 11,309 7,125 2,316 3,353 17,902 26,039 11,874 5,649 36,277 28,759 7,343 19,643 43,941 3,980 17,523 24,378 65,036 4,519 8,505 3,513 4,135 19,937 6,585 7,799 ll,44i 3,716 4,526 4,666 902 1,106 69,298 94,019 251,4l6 37 31 101 67,385 32,852 112,152 3,703 2,807 8,720 457 2,294 817 74,612 31 35,886 3,978 Jl39 42,687 ^ 18,150 2,202 1,107 59,934 — — 2,306 54,388 62 12,893 3,710 34,321 22,282 13,711 10,513 15,004 16,665 250 6,500 1,500 1,935 - 45,976 ,308 263 63,405 136,339 ^ } » ^2 33,4l8 45,482 l,9b2 3, , 4oS 481 5,4-13,479 4lS,929 1,619,273 393,449 510,895 240,758 249,321 822,760 200,092 144,496 216,159 168,042 434,305 L I A B I L I T I E S RESOURCES AID LI-4BI'LITIES' OF THE F^DLSRAL• RESERVE BABTKS..OH DECEL3HL 1 9 , 1926 ... • St. buioc (In thousands of d o l l a r s ) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 1,869,192 166,221 359,365 155,926 223,345 8 8 , I 4 O 136,582 318,211 64,533 65,094 7 0 , 2 2 7 4 9 , 2 3 6 1 7 2 , 3 1 2 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 2,325,879 Government i5MS Foreign bank 5,744 Other d e p o s i t s 19,314 Total d e p o s i t s 2,356,426 Deferred a v a i l a b i l i t y items 771,548 C a p i t a l paid i n 146,876 Surplus 233,319 M l other l i a b i l i t i e s 4L,H8 ..TOTAL--II .131 LI TIES 5,418,479 Reserve r a t i o (per cent) 64.5 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 321,010 F'.E.notes 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 ) 4 I S , 2 5 0 F.R n o t e s r e c ' d from Comptroller F.R*notes h e l d by F.R. Agent F e R.notes issued 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 issued 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 144,524 207 783 7,896 L46 145,369 928,038 133,586 173,857 76,887 10,160 23,71s 34,4I4 9 4 , 7 8 5 13,538 7 3 2 , 8 3 9 68,000 1,350,302 112,047 2,619,447 I85 205,636 303 656 71,042 50,098 14,536 14,422 17,893 63,007 21,662 24,021 2,399 13,129 .2,933 4,208 418,929 1,619,273 393,449 510,895 65.2 68.2 62.5 58.3 441,021 35,300 131,338 132,481 172,159 68,09s 65,36s 349,371 518 120 720,295 42,050 2,287,442 200,635 946,710 453,111 260 94 719 085 3,007,737 242,685 Total 919,099 64,806 93,949 30,043 32,889 752 352 l4s 69,350 62,924 6,119 12,324 1,901 24o,758 60.8 16,128 52,962 90,638 70,541 180,707 426 270 81 1,418 453 290 960 187 297 249 242 491 228 1,301 678 267 365_ 81 7,199 6 6 , 3 7 3 352,370 ,81,176 5 3 , 8 4 2 9 1 , 7 0 5 70,945 189,815 28,650 94,515 3 6 , 7 3 2 1 4 , 1 0 3 3 9 , 7 2 1 34,01s 42,514 5,231 13,481 5 , 4 0 7 3 , 0 0 9 4 , 2 1 7 4,329 10,867 9,996 32,778 1 0 , 3 9 7 7 , 0 3 9 9 , O 4 6 8,527 16,629 2,489 6,405 1 , 8 4 ? 1 , 4 0 9 1 , 2 4 3 987 2,168 249,321 822,760 200,692 144,496 216,159 I6S,O42 >34,305 56.4 66.0 56.7 65.6 64.2 55.3 67.6 487 738 13,282 43,958 79,931 13,598 8,539 14O,192 30,405 27,599 15,851 34,339 42,397 10,077 7,O44 FEDERAL BESBHVE i'OTE ACCOUNTS OF FEDERAL RESERVE AGELTTS 11,385 11,06s 22,453 10,99- 9,474 55,461 223,231 281,374 125,360 224,761 457,97s 89,860 88,107 110,734 69,737 322,573 36,900 30,430 21,369 5 3 , 8 4 O 9 7 , 3 7 0 15,250 1 5 , 9 6 9 29,510 11,027 9 4 , 8 0 0 499,557 1 8 6 , 3 3 1 250,944 103,991 170,921 360,60s 74,610 72,13s 81,224 58,710 227,773 771,337 271,780 24s,4o6 50,000 6,690 26,750 7,600 14,007 17,26s 35,000 5,712 2,350 1,236 2 , 7 5 4 3 , 1 7 7 4 , 3 3 3 1 7 , 3 8 7 5,000 9 8 , 1 7 7 5 5 , 0 0 0 50,500 211,000 19,000 32,000 40,3o0 4,000 110,802 334,537 9 9 , 0 8 9 1 5 3 , 9 3 3 61,194 88,538 216,821 52,282 2 4 , 9 9 5 4 7 , 3 8 4 4 1 , 8 5 3 118,129 603,714 207,620 272,514 111,476 171,500 43.0,171 80,118 73,756 90,921 67,454 281,318 15,771 10,354 13,581 4,592 39,OOO 228,885 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF IUDEBT33BESS A2TD MUNICIPAL WARRANTS 91 days to Within 15 days l 6 to 30 days 31 to 60 days 6 l to 90 days Over 0 months 6 months 797,249 39,031 58,914 33,383 17,043 1,090 139,251 80,690 125 94,713 60 143,44S 71,311 22,873 4,388 7,296 20,979
@FedFRASER