The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
STATEMENT FOR THE PRESS Released f o r p u b l i c a t i o n Friday morning, Dec. 5; not e a r l i e r . gl|o6 Federal Reserve Board, December 5, 1929. CCHDITIOH OF FEDERAL RLSERVE BAKES The consolidated statement of condition of the Federal reserve banks on December 4, made public by the Federal Reserve Board, shows a decrease f o r the week of 000,000 in holdings of discounted b i l l s and an increase of *29,000,000 in U. S. s e c u r i t i e s , with l i t t l e change in holdings of b i l l s bought in open market. Member bank reserve deposits increased $25,400,000 cash reserves *4,100,000 and Federal reserve note c i r c u l a t i o n AS,300,000, while Government deposits declined 510,500,000. Total b i l l s and s e c u r i t i e s were -,11,800,000 below the amount reported a week ago. Holdings of discounted b i l l s decreased $13,400,000 a t the Federal Reserve f S311 Francisco, $11,300,000 at Boston, $9,200,000 a t Richmond, •nv -1 j ? h i. a t A t l a n 1 ; a $6,900,000 a t Chicago, and increased $7,900,000 a t P a . The System's holdings of b i l l s bought in open market declined «? 00,000^and of U. S. bonds $24,800,000, while holdings of Treasury notes i n creased ip4o,oOO,000 and of Treasury c e r t i f i c a t e s $5,100,000. The p r i n c i p a l changes in Federal reserve note c i r c u l a t i o n f o r the week included a decrease of $5,800,000 a t the Federal Reserve Bank of New York and increases of *5,300,000 a t Chicago, $3,500,000 a t P h i l a d e l p h i a and $1,900,000 a t Kansas City. 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 follows"" W l t l X C h a n g e B * a r i n S week and the year ending December 4, 1929, Increase or decrease since Dec. 4,1929 Nov. 27.1929 Dec. 5. 1928 ( i n thousands of d o l l a r s ) Total r e s e r v e s G-old r e s e r v e s 3,138,748 2,992,966 + 4,128 + 5,538 Total b i l l s and s e c u r i t i e s 1,502,570 - 11,790 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 872,310 424,932 447,378 - 40,039 - 3S,24i - 1,79S B i l l s bought in open market . . . . 256,518 797 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 . . . 355,1% 37,955 183,413 133,776 + 29,o46 - 24,836 + 4s,764 + 5,115 + 128,362 + + 65,455 Federal r e s e r v e notes in c i r c u l a t i o n . i,93S,470 + 8,289 + l4s,625 Total deposits Members' r e s e r v e deposits Government deposits 2,401,001 25,346 + 15,646 + + 13,672 C 2,452,683 + 25,351 - 10,501 + + 4oi,6i6 375,366 - 218,454 139,872 240,932 4* - 101,060 221,252 15,544 78,451 17,0li 530 Released f o r p u b l i c a t i o n Friday morning, December 6,1929; not e a r l i e r . S t . 64o6a RESOURCES MB LIABILITIES OF THE TWELVE F3DE3AL RESERVE B.OKS COMBINED (In thousands of d o l l a r s ) Dec. 4.1929 Hov. 27,1929 Dec. 5. 1928 RESOURCES Gold with Federal r e s e r v e a g e n t s G-oId redemption fund with U.S.Treasury . . 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 Gold s e t t l e m e n t f u n d w i t h F.R. Board . . . Gold and gold c e r t i f i c a t e s h e l d by banks . 1,642,065 593,449 688,227 2,987,428 147,192 2,617,600 119,532 3,134,620 *79,097 2,737,132 53,028 424,932 447,378 463,173 872,310 912,349 257,315 665,864 346,318 1,012,182 T o tal gold r e s e r v e s . . Reserves o t h e r than gold 2,992,966 T o ta l r e s e r v e s Sfon-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 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 . . . 3,138,748 T o t a l U.S. Government s e c u r i t i e s Other s e c u r i t i e s To tal 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 . . . . . . . U n c o l l e c t e d items Bank premises . . . All o t h e r r e s o u r c e s TOTAL RESOURCES . . . 1,629,465 76,287 1,150,080 73,150 1,223,230 768,422 625,948 76,287 1,718,352 550,717 723,897 145,782 79,883 1,705,752 449,176 256,51s 62,791 37,955 183,413 133,776 134,649 128,65s 326,098 18,69s 355,144 18,698 1,502,670 724 i,5i4,46o 723 59,171 11,928 59,157 11,637 477,770 53,499 117,958 55,325 226,782 4,390 1,721,124 5,483,042 *5,476,613 726 747,261 60,601 10,699 5,330,571 689,918 676,919 L I A B I L I T I E S 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 1,938,470 1,930,181 1,789,845 Deposits: Member bank - r e s e r v e account Government . . . Foreign bank Other d e p o s i t s 2,401,001 25,346 5,774 2,375,650 35,847 2,382,329 20,562 20,519 a,444 2,452,683 2,437,037 *64I,594 2,435,672 T o ta l 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 All other l i a b i l i t i e s . . . TOTAL LIABILITIES R a t i o of t o t a l r e s e r v e s t o d e p o s i t and F. R. n o t e 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 f o re ig n c o r r e s p o n d e n t s C. 623,940 168,388 5,021 25,876 6,023 685,663 168,321 254,398 45,082 146,801 233,319 39.271 5,483,042 *5,476,613 5,330,571 254,398 45,163 71.5S& ll.Sfc 64.8$ 509,380 279,488 O 505,49/ •Revised f i g u r e s . RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ( i n thousands of d o l l a r s ) Total Boston Hew York P h i l a . Cleve. Rich. Gold with Federal Reserve Agents 1,642,06:. 214,917 400,b71 100,000 106,900 6 l , 1 9 0 Gold redemption f u n d with U.S.Treasury 76,2^7 6,928 l6,gl4 4,920 6,493 3,180 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 1,718,352 221,845 4i7,4s5 104,920 113,393 64,370 Gold s e t t l e m e n t f u n d with F.R.Board 550,717 53,088 l l 4 , 5 4 l 33,101 84,919 29,450 Gold and gold c e r t i f . h e l d by hanks 723,897 30,815 449,919 *40,053 4 l , 8 5 7 11,084 T o t a l gold r e s e r v e s 2,992,966 305,748 981,945 178,074 24o,l69 104,904 Reserves o t h e r than gold 145,782 15,237 4 2 , 2 l 4 10,782 7,159 5,194 RESOURCES Total r e s e r v e s 2Ion-reserve c a s h 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 discounted T ot a l 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 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 Total U.S.Govt, securities Other securities Total bills and securities Dae from foreign banks Uncollected items Bank premises All other resources TOTAL RESOURCES c 3,138,748 320,985 1,024,159 79,883 10,780 31,874 ON DECEMBER 4 , 1929 St. 64o6b A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. Dallas San Fran. 108,380 259,564 73,800 49,157 50,000 30,723 186,763 4 , l 6 9 11,420 6,734 3,970 2,74l 2,459 6,459 112,549 270,924 80,534 53,127 52,74l 33,182 193,222 8,802 91,612 30,606 3,437 95,693 5,860 124,788 458,289 117,000 16,596 11,1^5 9,367 19,042 4,468 76,637 3,387 32,624 5,4o6 90,771 5,474 19,479 33,453 9,120 36,185 6 l , 7 8 1 252,860 5,879 13,348 188,856 247,328 110,098 l 4 l , 3 8 4 469,434 126,367 80,024 96,245 67,660 266,208 l,4o5 3,870 4,818 4,668 7,125 4,105 1,561 1,607 2,363 5,707 424,932 447,378 18,173 256,518 7,715 68,543 38,4s4 4 6 , 6 l 7 17,032 7,337 93,303 19,571 15,99% 26,923 7,550 65,405 6i,818 6o,6n 59,299 26,373 43,659 65,811 17,824 13,900 36,157 22,049 19,148 130,361 99,095 105,916 43,4o5 50,996 159,114 37,395 29,894 63,080 29,599 84,553 87,524 8,268 29,838 16,432 18,823 33,375 ll6 2,811 16,276 9,437 25,903 37,955 183,413 133,776 689 4,629 9,907 155 111,999 57,570 585 12,268 17,539 5^8 10,922 4,259 1,152 372 285 55 3,379 5,396 19,927 9,018 19,246 355,144 15,225 169,724 9,350 30,392 1,150 15,729 1,500 1,809 8,830 143,191 396,959 138,905 152,983 220 69 74 192,154 59,175 63,305 16,037 1,762 6,535 61,646 20,729 872,310 38,902 18,698 1,000 1,502,670 62,842 724 , 54 689,918 68,969 59,171 3,702 11,928 92 3,548 215 1,176 - 33 52,44o 3,395 624 2,000 78,649 242,680 28 99 20,884 79,047 2,744 3,631 -8,529 586 2,125 9,857 7,837 4,838 5,101 1,814 19,819 11,753 - 57,330 29 31,267 3,996 4oi 3,698 - 263 2,800 7,813 5,005 68 10,600 5,907 1,216 3,063 18,725 11,884 - — — 57,761 122,340 24 52 41,151 27,401 39,650 2,110 4 , i 4 o 1,922 4,249 618 163 357 517 48,156 18 14,475 82,419 24 5,483,042 467,424 1,665,001 390,387 475,271 233,054 251,988 807,500 223,495 146,962 225,749 157,488 438,723 LI A B I L I T I E S St. DhOoc (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 Minn. Kans.Cy. Dallas San Fran. 1,93S,470 208,413 348,490 157,317 183,531 95,125 i49,o4g 315,601 92,860 65,770 87,556 50,214 184,544 F.R.notes in a c t u a l c i r c u l a t i o n Deposits: 2,401,001 Member bank - reserve account 25,346 Government 5,774 Foreign "bank 20,562 Other deposits Total deposits 2,452,683 623,940 Deferred a v a i l a b i l i t y items 168,388 Capital p a i d i n 254,398 Surplus 45,163 i l l other l i a b i l i t i e s 5,483,042 TOTAL LIABILITIES 71.5 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 505,49/ chased f o r f o r e i g n correspondents 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 ) 5 1 1 , 7 7 5 F.R.notes r e c ' d from Comptroller F.R.notes held "by F.R.Agent F.R.notes i s s u e d 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 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 fund - F. R. Board E l i g i b l e paper Total c o l l a t e r a l 155,192 1,934 390 57 157,573 67,862 11,280 19,619 2,677 467,424 87.7 990,936 133,580 183,805 66,4o6 4,483 1,704 1,513 2,35s 2,096 507 53S 243 8,876 38 1,651 132 1,006,391 135,829 187,507 69,139 160,639 53,315 57,872 48,103 64,887 16,532 15,667 6,080 71,282 24,101 26,345 12,399 13,312 3,293 4,349 2,208 1,665,001 390,387 475,271 233,054 67.0 75.6 64.4 66.7 1 5 4 , 3 4 ^ 48,364 50,124 206,059 17,830 23,974 17,433 28,972 62,300 14,512 5,901 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 1,167,103 74,650 2,450,245 258,537 355,695 35,300 1,286,370 179,617 1,094,771 %6,54o 2,736,336 261,457 63,253 174,067 2,272 174 36 1,69s 380 8,330 65,735 184,475 27,133 37,776 4,465 11,422 8,690 17,978 1,251 2,528 157,488 438,723 72.1 58.4 23,174 19,64s 69,019 20,152 12,595 16,625 16,625 36,273 37,281 3,617,34s 333,187 51,387 61,456 351,684 78,405 54,981 87,236 681 1,416 2,145 3,192 1,950 174 132 206 723 211 248 153 183 630 228 63,990 356,229 80,794 56,777 88,244 19,884 72,208 31,558 12,709 34,831 5,381 2o,O4I 5,268 3,081 4,284 10,554 36,442 10,820 7,082 9,086 3,130 6,979 2,195 1,543 1,69s 251,988 807,500 223,495 146,962 225,749 72.8 65.3 54.7 66.4 69.9 10,330 8,888 65,452 945,199 235,047 304,325 165,952 280,201 536,6oi 133,122 126,14s 123,546 79,324 355,296 390,650 59,900 96,820 53,394 102,180 158,100 25,750 54,477 25,660 20,222 105,300 554,549 175,147 207,505 112,55s 178,021 377,901 107,372 71,671 97,886 59,102 249,996 28,600 16,900 16,190 7,480 7,800 223,626 7i,4oo 90,000 45,000 100,900 259,564 66,000 207,768 89,608 135,498 55,796 69,693 192,086 37,386 608,439 189,608 242,398 116,986 178,073 451,650 111,186 177,045 17,223 35,000 35,000 50,000 13,500 151,763 32,447 78,96s 38,856 110,125 81,604 128,968 69,579 296,888 14,157 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS MD MUNICIPAL WARRANTS 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 "i thin 15 days 667,708 , 872,310 256,513 93,042 61,453 133,776 598 16 to 30 days 65,403 93,25* 556 31 to 60 days 81,923 63,078 25 6 l to 90 days 4o,4io 6,6o4 91 days to 6 months 16,047 526 26,714 17 Over 6 months Sl4 45,609
@FedFRASER