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STATEM2TT FOE THE PRESS •Released, f o r p u b l i c a t i o n Friday morning, J a n . 11; not e a r l i e r . g t . 6o45 F e d e r a l Reserve Board, January 16, 1929. CONDITIO!! OF FStERAL HE SERVE BAHKS tfhe 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 banks 011 January 9, made p u b l i c by t h e F e d e r a l Reserve Board, shovzs d e c r e a s e s f o r the week of $274,900,000 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 , o f . $ 7 , 3 0 0 , 0 0 0 i n b i l l s bought i n open market and of $4,700,000 i n Government s e c u r i t i e s . Member bank reserve deposits declined 9,100,000, Government d e p o s i t s $16,900,000 and 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 ^84,100,000, while c a s h r e s e r v e s i n c r e a s e d $64,o00,000. T o t a l b i l l s and s e c u r i t i e s were $286,900,000 below t h e amount h e l d on January 2. The p r i n c i p a l chnnges 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 f o r the week were d e c r e a s e s of $213,900,000 a t the F e d e r a l Reserve Bank of He?/ York, of $45,400,000 a t Chicago, and of $8,900,000 a t Boston, and an i n c r e a s e of lt>13,o00,000 a t San F r a n c i s c o . The System's h o l d i n g s of b i l l s bought i n open market decreased 77,300,000 and of Treasury n o t e s $7,400,000, v/hile h o l d i n g s of Treasury c e r t i f i c a t e s i n c r e a s e d $2,700,000. 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 884,100,000 l e s s than a week ago, a l l of the F e d e r a l r e s e r v e banks r e p o r t i n g d e c r e a s e s i n c i r c u l a t i o n , t h e l a r g e s t d e c l i n e s b e i n g $21,200,000 a t How York,$l5,700,000 a t Chicago, $11,500,000 a t P h i l a d e l p h i a , $9,500,000 a t Boston, $5,4q0,000 a t Cleveland and $5,200,000 a t San F r a n c i s c o . 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 t h e r e s e r v e banks, t o g e t h e r w i t h changes d u r i n g t h e week and the year ending January 9, 1929, follows: ( i n thousands of d o l l a r s ) J a n . 9. 1929 I n c r e a s e or d e c r e a s e d u r i n g Week Year Total r e s e r v e s . Gold r e s e r v e s 2,783,107 + + 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 d i s c o u n t e d . . . . 1,602,714 876,547 558,186 318,361 - 286,946 B i l l s bought i n open market 2,631,672 64,582 44,o45 - 75,652 437,406 260,939 176,467 + 84,533 - 7,258 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 239,242 52,666 .113,425 73,151 - 4,7ii 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 2,452,239 2,4o4,678 14,108 c* 224,983 + + + + 477,100 1,745,262 184,116 176,227 - 274,917 - 199,265 . . Federal reserve notes in c i r c u l a t i o n . — 306,021 174,099 + - 7,393 2,682 + 84,102 + - 111,494 ,, - 8 9 , 0 7 9 - 16,891 12,844 l44j66 - 65,63s 65,243 6s,6s0 3,026 Released f o r p u b l i c a t i o n Friday morning, January 11, 1929; nOt e a r l i e r . St.6o4ga RESOURCES JED LIABILITIES OF THE T m V E FBDIEAL RESERVE 33EKS COMBINED ( I n thousands of d o l l a r s ) R E S O U R C E S J«. 2,1989 Gold '.7ith F e d e r a l r e s e r v e a g e n t s . . . . Gold redemption f u n d with U.S.Treasury . 1,219,166 73,4oo 1,233,332 1,524,657 Gold hold 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 with 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 banks Total gold r e s e r v e s Reserves o t h e r than g o l d T o tal 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 d i s c o u n t e d T o tal 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 : 1,292,566 1,307,02$ 685,346 595,256 1,575,725 572,502 659^672 2,807,899 159,324 684,091 73,693 ' 51I06S 655,015 2,631,672 z&fjzj 151,435 2,783,107 99,091 130,898 2,718,525 83,308 2,967,223 558,186 318,361 876,547 477,100 757,451 394,'013 1,151,464 484,358 297,247 141*894 439,l4l 392,567 52,666 113,425 73,151 *52,666 *120,818 70,469 226,765 100,581 . . 239,242 9,825 243,953 545,263 T o t a l 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 resources . . . . . . . . . . 1.6o2,7l4 729 691,004 58,591 1,889,660 7,715 1,377,731 566 670,095 58,122 l4,S88 5,242,9l4 5,584,714 5,181,771 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 account . . . . Government Foreign bank Other d e p o s i t s 1,745,262 1,829,364 2,4o4,678 l4,10S 5,853 2,493,757 30,999 5,935 _ 33,042 1,679 624 ' ' 2,473 358 17^134 4,825 Total deposits D e f e r r e d a v a i l a b i l i t y items C a p i t a l p a i d in 2,452,239 629,574 146,826 2,563,733 2,517,482 146,952 132,585 5,584,714 5,181,771 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 . . . . . T o tal 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 RESOURCES 7,678 9,885 728 826,187 58,591 93,l46 217,917 760 L I A B I L I T I E S £ & i i i i m i . ; : : : : . 7 . 7 TOTAL LIABILITIES : 27,600 776,626 22,165 609,065 J g j g 5,242,914 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 . . . 66.3$ 61,9$ 70.7$ Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents 333,971 325,064 233,812 c$ •Revised f i g u r e s . RESOURCES AHD LIABILITIES OF THE FEDERAL RESERVE BAHKS OH JANUARY 9, I929 St. 6o45h ( i n 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. Gold -jjith Federal Reserve Agents 1,219,166 101,093 198,684 l l 6 , 2 ] 0 117,907 52,215 233,217 32,585 46,384 58,722 26,694 158,504 Gold redemption fund with U.S.Treas. 73,400 6,296 18,383 6,180 9^091 3]0S6 76,931 4,585 8,577 5,500 3,605 1,522 2,646 3,929 Gold held exclusively a g a i n s t F. R. n o t e s 1,292,566 107,389 217,067 122,410 126,998 55,301 RESOURCES Gold settlement fund with F.R.Board 684,091 25,101 Gold and gold c e r t i f . h e l d by "banks 655,015 36,383 Total gold r e s e r v e s 2,631,672 168,873 Reserves other than gold 151,435 20,156 Total r e s e r v e s Hon-reserve cash 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 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 Due from f o r e i g n banks Uncollected items Bank premises All other TOTAL RESOURCES 211,842 410,023 26,931 25,390 75,450 42^556 838,932 175,231 245,004 30,717 7,867 11,129 2,783,107 139,034 869,649 183,098 256,133 99,091 i4,24o 33,378 1,673 5,190 558,186 313,361 34,941 12,006 46,947 08,566 689 206,677 53,755 22,257 55,219 585 10,307 10,555 54s 28,530 3,384 20,480 78,899 21,927 8,099 11,831 16,162 32,690 49,505 13,392 4,034 22,376 2,743 24,997 281,560 76,012 8 4 , j o i 4-0,284 60,338 128,4o4 35,319 12,133 34,257 18,905 57,687 131,618 17,264 49,268 22,703 29,771 41,679 10,341 19,829 2,291 22,062 61,708 74,883 29,482 52,666 113,425 73,151 3,073 4,4n 35,I4I 239,242 8,173 64,652 21,447 32,962 1,384 28,127 9,825 1,602,714 123,686 477,830 114,723 166,931 , 729 54* 221 70 75 691,004 66,611 188,017 58,845 60,57s 58,591 7,678 3,702 so 5,242,914 397,407 81,516 241,794 38,085 49,939 60,244 29,340 162,433 14,899 163,438 24,96s a,995 4 6 , 7 1 3 27,114 36,006 14*592 6,018 62,790 10,829 3,989 6,027 7 , 4 l 6 28,497 79,522 102,433 468,022 73,882 75,973 112,989 63,870 226,936 9,794 11,151 1 6 , 0 8 3 17,816 2,593 6 , 3 8 9 6,127 11,613 39,316 113,584 484,105 9 1 , 6 9 3 73,566 119,378 69,997 238.549 8,472 5,480 1 2 , 6 4 i 4,489 1 , 7 1 4 2,337 3 , 9 6 1 5 , 5 1 6 9,629 16,037 1,055 1,752 230 1 , 5 3 6 , 2 3 7 360,391 6,535 1,120 17,456 22,828 39,858 1,152 346 1 9 , 9 3 7 7,125 4,519 3,505 7,813 63 1,063 3,562 6,4o9 11,563 4,618 902 2,175 13,096 1,212 1,280 7,494 2,355 1,770 1,106 3,943 3,427 5,133 33,840 21,043 10,907 10,513 9,988 17,102 1,575 1,500 6,500 250 6 6 , 4 i 4 95,297 203,923 66,703 4 4 , 4 4 4 4 8 , 5 6 1 57,455 136,747 34 28 100 29 18 24 52 52,638 22,695 80,036 31,426 13,910 4 0 , 2 824 5 29,511 46,452 3,575 2,744 8,527 3,812 2,110 4 , i 4 o 1,920 3,637 4so 1,450 301 408 939 264 450 4oi 496,562 220,929 241,278 790,133 198,565 l 4 l , 7 0 1 214,939 163,318 431,4o4 T T A U T T T m r n ®ES0UECES L I A B I L I T I E S 5*.B.notes in a c t u a l 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 AHD LIABILITIES OP THE jj^DEHAE EE SERVE BANKS <M JMUARY 9, 1929 St. 6o45c (In thousands of d o l l a r s ) Total Boston Hew York P h i l a . 01eve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 1,745,262 150,430 332,699 128,725 209,648 81,942 131,375 304,930 61,912 63,280 69,308 45,922 165,091 2,4o4,678 150,001 950,927 137,617 185,434 71,204 67,325 351,941 86,019 55,345 94,752 73,635 180,478 14,108 989 770 4oi 1,088 2,794 779 3,288 5,853 46o 1,524 596 634 242 851 27,600 139 Total d e p o s i t s 2,452,239 151,589 Deferred a v a i l a b i l i t y items 629,574 64,920 C a p i t a l paid in 146,826 10,156 Surplus 254,398 19,619 A l l other l i a b i l i t i e s TOTAL LIABILITIES 07 Reserve r a t i o (per Cent) teis 66.3 62.6 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 333,971 24,358 F . R . n o t e s on hand (notes r e c j d from F.R.Agent l e s s notes in c i r c u l a t i o n ) 497,390 51,610 F.R.notes r e c ' d from Comptroller F.R.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 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 3,001,234 239,940 752,582 37,900 2,242,652 202,o4o 371,273 35,300 101,271 17,793 745,622 48,000 1,314,853 115,438 965,514 138,806 188,604 162,470 53,893 50,o64 14,536 i 4 , 4 i 9 71,282 24,101 26,345 1«'u91 I k f 68.4 64.3 104,546 3l,6oo 2 33,574 71,868 70,483 357,180 18,478 $ 2 75,100 192,761 28,856 44,157 10,868 17,978 11,313 10,820 ®-?a9 58.1 I5,l4i 87,598 31,775 790,133 198,565 141,701 214,9S9 163,318 4 3 1 , 4 * 65.8 71.9 12,837 8,229 10,862 137,656 60,505 34,521 21,571 34,976 48,293 13,348 7,161 FJDL'RAL RESERVE HOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 10,951 470,355 189,230 244,169 103,513 166,351 353 , 223 177,998 50,000 15,686 11,653, 12,907 5,000 104,577 55,000 _400,°92 74,530 l33.4oq 75,'260 70,44i 6,690 27,350 7,500 6,525 6,581 2,217 2,085 39,000 43,000 231,000 23,000 fr0,308 89,974 169.825 45.616 *>3,42 14,167 1,217 3l,ooo 31,678 10,862 23,700 80,259 67,830 330,728 12.547 98.200 55,283 232,528 - , 3,362 55,36o 17,268 35,000 4,426 16,819 5,000 106,685 MA.TURITY DISTRIBUTION OF BILLS'/CERTIFIGATES OF DIDEBTEIEESs' Total 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 Cl for FRASER Digitized 87$,547 477,100 73,151 Within 15 days 741,362 146,784 23,020 l 6 to 30 days 37,238 89,543 31 to 60 days 6l to 90 days 49,880 139,511 35,162 97,221 22,888 91 days to 6 months 11,782 4,o4i 7,408 Over 6 months 1,123 19,835
@FedFRASER