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.S1A/Si8» -SOU THE PRESS
Released f o r p u b l i c a t i o n
Friday morning, Feb. 22;
not e a r l i e r .
S t . 6105
FedersrI Reserve Board,
February 21, 1929.
CONDITION OF FEDERAL RESERVE BMES
The c o n s o l i d a t e d s t a t e m e n t of c o n d i t i o n of the F e d e r a l Reserve t a n k s on Febr u a r y 20, made p u b l i c by the Federal Reserve Board, shows decreases f o r the week
of $39,000,000 i n h o l d i n g s of d i s c o u n t e d b i l l s , of $35,400,000 i n b i l l s bought i n
open market and of $4,600,000 In 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 d e c l i n e d $54,000,000, Government d e p o s i t s $5,700,000i Federal reserve
note c i r c u l a t i o n $8,200,000 and cash r e s e r v e s $8,300,000. Total b i l l s and s e c u r i t i e s were $78,000,000 below the amount h e l d on February 13*
The p r i n c i p a l changes i n h o l d i n g s of discounted b i l l s were d e c r e a s e s of
$71,000,000 a t the F e d e r a l Reserve Bank of Hew York, $9,700,000 a t San F r a n c i s c o
and $8,700,000 a t Cleveland, and i n c r e a s e s of $26,800,000 a t Chicago, $10,400,000
a t P h i l a d e l p h i a , $9,500,000 a t S t . Louis and $6,200,000 a t Richmond. The System's
holdings of b i l l s bought i n open market d e c l i n e d $ 3 5 , 4 Q 0 , 0 0 0 , of Treasury c e r t i f i c a t e s $2,900,000 and of T r e a s u r y n o t e s $1,700,000, while h o l d i n g s of United S t a t e s
bonds were unchanged.
F e d e r a l r e s e r v e n o t e c i r c u l a t i o n was $8,200,000 l e s s than a week ago, the
p r i n c i p a l d e c r e a s e s b e i n g $4*500,000 a t Cleveland and $3,100,000 a t P h i l a d e l p h i a .
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, t o gether with changes d u r i n g t h e week and the year ending February 20, 1929, f o l l o w s ;
I n c r e a s e or decrease since
Feb. 20.1929
Feb. 13.1929
Feb. a . 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
, ,
2,839vSol
2,681,110
-
1,403,280
* 77,972
+ 186,997
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 d i s c o u n t e d . . . . . .
864,980
518,271
346,709
- 38,969
- 99.473
+ 6O,5O4
+
+
+
403,936
227,346
176,590
B i l l s bought i n open market
355,636
- 35,422
+
2,4O9
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 i n d e b t e d n e s s . . .
172,589
51,592
95,144
25,853
-
1,699
2,882
Federal r e s e r v e n o t e s i n c i r c u l a t i o n .
1,651,595
-
8,182
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 . . . . . . . .
2,361,021
2,318,644
15,187
- 60,501
- 53,978
- 5,675
Total b i l l s and s e c u r i t i e s
C.
. . . .
8,288
5,lll
-
4,581
-
+
-
144,489
138,676
228,923
3,795
112,597
112,531
59,697
43,832
38,439
8,494
•Released f o r p u b l i c a t i o n Friday morning, February 22,19^9{ not e a r l i e r i
Stt6l05a
RESOURCES A2iD LIABILITIES
OF THE TWELVE FEDERAL RESERVE BANKS COMBINED
(In thousands of dollars)
R E S O U R C E S
Gold v/ith F e d e r a l r e s e r v e a g e n t s . . . .
Gold r e d e m p t i o n f u n d ? i t h U, S. T r e a s u r y
Gold h o 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 g o l d c e r t i f i c a t e s h e l d by b a n k s
Feb, 20.1929 F e b . 13.1929 F e b . 21.1928
764,092
649,343
1,214,425
60,347
1,274,772
752,817
658,632
1,334,121
52,349
1,436,970
749,105
633,711
2,681.110
2,636,221
2,819,786
153,751
2,839,861
161,928
2,348,149
77,396
31,967
164,564
2,984,350
71,496
518,271
346,709
617,744
864,980
355,636
903,949
391,058
51,592
95,144
- 25,853
172,589
10,075
1,403,280
51,592
96,843
28,735
177,170
9,075
1,481,252
729
719,244
58,656
7,934
731
,
665,350
53,656
7,830
55,387
207,741
138,384
401,512
500
1,216,283
56s
649,135
59,055
10,913
5,107,100
5,143,935
4,991,800
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:
Member bank - r e s e r v e a c c o u n t . , , ,
Government
Foreign bank
Other d e p o s i t s
1,651,595
1,6:59,777
1,591,898
2,318,644
15,137
6,475
20,715
2,372,622
20,862
5,371
22,667
2,357,083
Total deposits . , .
Deferred a v a i l a b i l i t y items
Capital paid in
Surplus
. . . .
2,361,021
671,503
150,196
.254,398
13,387
TOTAL LIABILITIES
5,107,100
2,421,522
64O,56O
149,764
254,393
17,914
5,143,935
T o t a l A'Qld r e s e r v e s
Reserves other than gold
Total reserves
Hon-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 b o u g h t i n 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 i n d e b t e d n e s s . , , ,
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 ,
T o t a l b i l l s and s e c u r i t i e s
Due f r o m f o r e i g n b a n k s
Uncollected items
Bank p r e m i s e s
All other resources
TOTAL RESOURCES
1.207,199
60,476
1,267,675
286,205
290,925
170,119
46l,o44
353,227
L I A B I L I T I E S
All other l i a b i l i t i e s
. . ,
23,681
5,?24
13,765
2,4o4,853
613,456
136,474
233,319
11,800
4,991,800
f t 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 , . .
70.8#
69.8#
74.7#
C o n t i n g e n t l i a b i l i t y on b i l l s p u r c h a s e d
for foreign correspondents , . , ,
306,830-
312,893
241,238
c.
R E S O U R C E S
RESOURCES MD LIABILITIES OF THE FEDERAL RESERVE BANKS CM FEBRUARY 20, I929
( i n t h o u s a n d s of d o l l a r s )
T o t a l B o s t o n New York P h i l a . C l e v e .
R i c h . A t l a n t a Chicago S t . L o u i s
Gold with F e d e r a l Reserve Agents
1,207,199
63,167
241,981
60,476
5,336
l4,s4i
Gold h e l d e x c l u s i v e l y a g a i n s t
1,267,675
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 764,092
Gold and g o l d c e r t i f . h e l d "by b a n k s 649,343
68,503
73,793
24,864
93,464 138,4y4
22,749
37,093
70,422
44,659
Total r e s e r v e s
Non-reserve cash
2,839,861 184,737 1,033,3o4 168,934 268,637
77.396
6,756
31,451
2,586
4,blS
B i l l s disccraiitecL:
S e c u r e d by U . S . G o v t , 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 b o u g h t i n 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 i n d e b t e d n e s s
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
T o t a l b i l l s and s e c u r i t i e s
Dae f r o m f o r e i g n b a n k s
Uncollected items
Bank p r e m i s e s
All other resources
TOTAL. RESOURCES
c
518,271
346,709
864,980
355,636
51,592
95,144
25,853
172,589
10,075
729
1,507
4,582
9 0 , 1 9 3 239,134
32,088
16,376
7,196
93,4l4
53,544
20,970
11,905
993,531 160,065 258,356
39,773
8,869
10,281
8 2 , 4 4 4 113,770 386,092
64,963
3,669
15,180
17,405
91,559 123,508 401,272
5,6ll
4,024
7,073
82,368
4,475
9,115
9,738
49,564 57,415
23,730 40,467
5,261
4,595
77,889 103,143
21,342 l4y,959
1,942
4,071
2 3 , 2 8 4 152,030
26,747 32,808
10,517
28,311
6,216
60,548 213,149
7,195 1 4 , 5 2 4
80,767 109,359
1,281
1,757
67,743 227,673
3,280
4,484
2,878
107,926
73,801
59,6l3
30,961
54,716
26,093
20,722
20,485
19,019 111,429
36,133 77,773
25,486
16,322
6,398
3,067
15,558
16,44-1
13,486
4-7,053
181,727
70,355
90,574
24,793
80,809
34,484
41,207
55,152 189,202 41,808
19,716 39,488 10,397
9,465
13,357
31,999
11,539
17,718
19,200
71,288
49,071
10,225
585
19,937
6,339
7,125
11,504
3,225
885
4,575
7,755
902
1,106
7,813
8,433
54s
28,434
1,480
4,519
2,219
1,334
10,381
4,549
2,219
856
64
12,999
1,480
5,912
16,314
19,293
30,462
29,501
19,514
9,763
1,500
10,888
14,543
6,000
750
36,865
17,166.
54,031
47,623
689
3,oo4
-
—
1,403,280 107,566
719,244
53,656
7,934
3,945
55,139
12,913
14,392
2 , 6 8 1 , 1 1 0 167,160
17,577
52,833
6,483
256,822 100,223 143,275
Total gold r e s e r v e s
Reserves other than gold
153,751
48,057
2,540
86,529 232,651
Minn. Kans.Cy. D a l l a s San F r a n ,
28,143
4,801
329,703
407,006
6,759
52,599
S t . 6lO$b
54
69,250
3,702
85
-
-
15,613
21
1,152
1,033
455
2,64o
-
3,529
452
4,002
-
-
-
268,396 134,660 145,755
59,46o
78,870 258,191
71,719
70
62,827
1,752
282
34
48,882
3,575
"499
29
27,797
2,744
1,704
29
31,094
3,862
483
219
205,457
16,087
77b
75
69,715
6,535
1,208
100
86,359
8,527
827
663
9,757
1,825
34,4O4
IS
13,073
2,110
772
54,801
24
37,132
4,i4o
359
53,806 135, 652
24
28,310
1,921
526
53
39,348
3,701
413
5 , 1 0 7 , 1 0 0 372,150 1 , 5 5 5 , 6 9 0 371,111 4 9 6 , 5 4 3 209,620 238,676 762,349 194,030 132,425 2 0 7 , 5 7 2 155,610 411,324
L I A B I L I T I E S
P.R.notes in actual circulation
Deposits:
Member bank - r e s e r v e a c c o u n t
Government
F o r e i g n "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 in
Sur;.] u s
Ail other l i a b i l i t i e s
St. 6lOrc
J
*
RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BAHKS GT 5KBHUARY 20, I929
( I n t h o u s a n d s of d o l l a r s )
.
2
BoSt
° n Mew York P h i l a . C l e v e .
, 51,595 128,962
313,707 1 3 9 , 4 5 2 201,459
R i c h . A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. D a l l a s San F r a n .
75,624 130,167 276,945 6 o , l 4 4 6 1 , 4 2 0 6 6 , 5 3 7 39,489 157,689
' ^ ' ^
67,721
30
^3,018
'715
917,400 132,401 1 8 4 , 7 2 2
&
=:"=
S
118
8,384
138
*'S
784
65,038 342,167
IS
K
104
111
81,787
48,623
' • $
669
$
306
28(1
91,909
1,177
206
7 0 , 7 9 4 173,064
1,018
1,063
206
44s
I'8 §111 ijTiilgfl
TOTAL LIABILITIES
5,1
°I'i°°
Reserve r a t i o (per cent)
70.8
C o n t i n g e n t l i a b i l i t y on b i l l s p u r chased f o r foreign correspondents
306,830
: r o t e s on hand ( n o t e s r e e ' d f r o m
Agent l e s s n o t e s i n c i r c u l a t i o n ) 399,171
67.7
^ ' 5 5 5 , 6 9 0 3 7 l , l H 496,543 209,620 232,676 762,349 194,030 132,425 2 0 7 , 5 7 2 155,610 4 i i , 3 2 4
83.1
61.8
69.1
63.3
63.0
64.3
57.2
72.6
68.3
60.2
66.8
22,512
94,791
17,877
29,205
31,030
13,994
11,864
41,678
12,169
7,605
10,039
10,039
21,904
117,023 4 3 , 7 1 2 3 6 , 4 1 8 1 7 , 2 9 2 30,012 31,715 1 0 , 8 1 4
7,844
FEDERAL RESERVE "OTE ACCOUNTS OF FEDERAL RESERVE AGENTS
7,392
10,078
68,994
F . R . n c t c s r e e ' d from C o m p t r o l l e r
FeiL n o t e s h e l d by F . R. Agent
2 , 9 0 5 , 2 3 8 230,014
354,472 83,175
P - R . n o t e s i s s u e d t o F.R.Bank
C o l l a t e r a l held as security f o r
F . R . n o t e s i s s u e d t o F.R.Bank;
G-old and g o l d c e r t i f i c a t e s
Gold redemption f u n d
Gold f u n d - F . R. Board
E l i g i b l e paper
Total c o l l a t e r a l
S S 1 ! ; S
2,050,766 146,839
430,730 183,164 237,877
92,916 160,179 308,660
70,95s
69,264
362,645 3 5 , 3 0 0
101,300 14,867
743,254 1 3 , 0 0 0
1 , 1 7 5 , 6 0 6 101,579
171,880
15,101
55,000
235,735
6 , 690
6,909
39,000
52,630
7,500
1,643
19,000
52\104
14,167
14,758
2, 890
3,473
3,584
31,000 49,360 ^ 3 , 0 0 0
221405 4 2 , 9 6 5
2 , 3 8 2 , 8 0 5 164,746
Total
B i l l s discounted
B i l l s bought ija open market
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
Digitized:forC.
FRASER
864,980
355,636
25,853
I
S
' S : S
50,000
14,087 13,474
79,377 75,000
97,719 112,435
x t s
27,350
8,679
1,651
50,500 231,000
74,261 228,424
s - s
'i?-a
477,76b 191,183 250,909 105,229 160,790 461,075 80,247 70,460
MATURITY DISTRIBUTION OF BILLS ALTD CERTIFICATES OF IEDZBTEIESSS
W i t h i n 15 days
l o t o 30 days
31 t o 60 days
708,979
122,069
884
35,853
io4,34O
8,216
67,067
106,076
nn
—
b£">l t o 90 *days
43,758
19,326
^
73,929
49,567 226,683
35,000
14,942
98,017
9 5 , 7 9 8 "58,129 266 473
6 months
6,530
3,825
65S
-k
n - s
-
Over 6 months
2,793
16,095
@FedFRASER