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STATEMENT FOR THE PRESS Released f o r p u b l i c a t i o n Friday morning, July 19; not e a r l i e r . St. 6265 Federal Reserve Board, July IS, I929. CQtJDITION OF FEDERAL RESERVE BANKS The c o n s o l i d a t e d statement of condition of the Federal reserVe "banks on July 17, made public "by the Federal Reserve Board, shows a decrease f o t the week of $69,300,000 i n holdings of discounted b i l l s and i n c r e a s e s of $1*700,000 i n b i l l s bought i n open market and of $17,000,000 i n U. S. Government s e c u r i t i e s . Member bank reserve d e p o s i t s increased $49,200,000 and cash r e s e r v e s $35,500,000, while Government d e p o s i t s declined §15,000*000 and Federal reserve note c i r c u l a t i o n $31,800,000. Total b i l l s and s e c u r i t i e s were $51,100,000 below the amount h e l d on July 10. Holdings of discounted b i l l s declined $20,200,000 at the Federal Reserve Bank of Boston, $18,500,000 at Chicago, $18,200,000 a t San Francisco and $b,900,000 at Kansas City, and increased $7,600,000 a t St. Louis and $5,700,000 at Dallas. The System's holdings of b i l l s bought i n open market increased ^1,700,000, of Treasury n o t e s $14,400,000 and of Treasury c e r t i f i c a t e s 4)2,600,000, while holdings of U. S. bonds were unchanged. Federal reserve note c i r c u l a t i o n increased $5,000,000 a t Atlanta and decreased a,| all other Federal reserve banks the p r i n c i p a l decreases being a t the Chicago/ana San Jfrancisco Federal reserve banks, A suinmary 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, together with changes during the week and the year ending July 17, 1929, follows: Increase or decrease since July 17.1929 July 10.1929 Total reserves . Gold reserves 3,097,6^ T J M 2,929,§75^ + 27,759 Total b i l l s and s e c u r i t i e s 1,314,708 - 1,083,700 — 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 B i l l s bought in open market . . 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 . 611,162 472,538 51,118 69,341 39 ,228 30,113 67,638 + 1,662 153,115 + + + + 16,971 1 14,365 2,605 42,669 97,181 13,265 July 18.1928 d0ll f3i3S,Sto + 329,984 - 87,916 + 71,943 + 75,808 - 3,865 113,397 56,227 + ^7:676 50,5*48 Federal reserve notes i n c i r c u l a t i o n 1,801,225 - 31,779 + 182,362 Total d e p o s i t s Members' reserve deposits Government d e p o s i t s . . . 2,393,984 2,352,081 + + 34,273 49,207 I4,9SS + + 44,942 45,449 l,l6g C 12,567 Released f o r p u b l i c a t i o n Friday morning, July 19, 1929; not e a r l i e r . St. 6265a RESOURCES AND LIABILITIES OF THE TEELV"! FEDERAL RESERVE BMKS COMBINED (In thousands of d o l l a r s ) July 17,1929 July 10.1929 RESOURCES Gold with Federal reserve agents . . , 3^494,374 1,439,492 Gold redemption fund with U.S.Treasury 79,607 82,335 Gold h e l d e x c l u s i v e l y against F.R.notes 1,573*981 1,521,327 Gold settlement fund with F. R. Board 600,666 610 ,S22sr,0 Gold and gold c e r t i f i c a t e s held "by banks 779,32% 7%W73 Total gold r e s e r v e s . 2,901,817 2.929.6IM Reserves other than gold 1687^00 , g 160,222 Total r e s e r v e s 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 discounted 3,097,676 79,275 . 611,162 July 12. 1928 1,130,963 73,465 1,204,428 661,912 733,252 2,599,592 159,244 3,062,039 2,758,836 71,099 65,096 650,390 615,027 472,538 502,651 1,083,700 67,63s I,153,O4I 65,976 42,669 42,66s 13,265 153,115 10,255 10,660 136,144 1,314,708 1,365,826 822,126 58,6i4 7,846 729 729 716,451 58,6i4 7,710 573 740,451 5,380,974 5,282,468 5,036,074 F. R. notes i n actual 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 1,801,225 1,833,004 1,618,863 2,352,081 2,302,874 2,306,632 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 i n Surplus . . . . . A l l other l i a b i l i t i e s . . 2,393,984 742,129 161,547 Total "bills 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 notes C e r t i f i c a t e s of indebtedness . . . 97,181 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 . . . . . . . . . . Total b i l l s and s e c u r i t i e s . Dae from foreign banks Uncollected items Bank premises . . . . A l l other resources TOTAL RESOURCES . . . . L I A B I L I T I E S TOTAL LIABILITIES 82,816 10,665 396,730 1,011,757 181,035 56,024 89,505 209,342 490 1,402,624 60,063 8,431 . . . . . . . 12,567 8,138 21,198 , 254,39s 27,691 . . . . . 5,380,974 27,555 5,567 23,715 2,359,711 649,848 158,797 254,398 26,710 5,282,468 13,735 10,057 18,618 2,349,042 672,160 143,116 233,319 19,574 5,036,074 Ratio of t o t a l reserves t o deposit and F. R, note l i a b i l i t i e s combined . . 13M 73.0$ 69.5$ Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents . . . . 442,526 44o,592 305,186 RESOURCES AND LIABILITIES OP THE FEDERAL RESERVE BANKS CM JULY 17, I929 St. 6265b (In thousands of d o l l a r s ) Total Boston New York Phi l a . Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal Reserve Agents 1,494,374 126,332 183,427 126,028 153,938 49,*55 105,192 329,66 2 31,573 67,461 63,810 27,715 229,381 Gold redemption fund with U.S.Treas. 79,607 4,010 21,028 1 5 , 4 o i 4.554 5,34l 3,319 9,%5 5,891 1,632 3,504 2,383 3,089 Gold held e x c l u s i v e l y against F. R. n o t e s 1,573,981 130,342 204,455 141,429 158,492 55,196 108,511 339,117 37,464 69,093 67,314 30,098 232,470 Gold settlement fund with F.R.Board 610,822 68,026 110,143 48,522 96,133 19,244 17,374 98,654 22,407 12,903 60,697 23,318 3 3 , 4 o i ^ s ' Gold and gold c e r t i f . h e l d by hanks 7 4 W 7 3 27.944 46o,86o 28,389 4l,52Q 7,380 3,6o4 112,243 9,839 6,599 5,720 11,436 29,2^9 RESOURCES Total gold r e s e r v e s Reserves other than gold 3 9 2 9 S I 6 226,312 K* l6fri00 10,454 775,458 218,3^0 296,145 71,560 7,858 9,295 81,820 129,489 550,014 6,667 7,578 21,238 69,710 88,595 133,731 64,852 295,(10" 7,902 2,874 3,843 Total reserves Non-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 i n open market Jj» S. Government s e c u r i t i e s : Bonds Treasury n o t e s ^Certificates 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 3,097,676 236,766 79,275 9,898 847,018 226,19s 305,%4o 88,487 137,067 571,252 77,612 91,469 137,574 70,262 308,531 2,184 4,655 3,239 24,389 1,711 5,244 6,596 9,832 5,015 1,739 4,773 611,162 472,533 1,033,700 67,638 36,135 32,948 302,725 42,669 97,181 13,265 689 153,115 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 resources 1,314,708 TOTAL RESOURCES 10,255 69,083 9,612 58,614 7,846 10,751 7,121 17,872 1,277 4,585 3,829 145 - 9 8,559 3,600 - 11,045 120,201 30,820 33,709 36,583 57,430 53,861 30,055 422,926 73,588 83,685 58,073 67,891 i a , 0 3 7 58,904 187 19,000 4,313 2,852 1,203 5,219 7,938 19,937 3,047 330 7,125 6,500 - -15 3,037 37 1,809 3,089 23,314 13,625 - - 1,523 1,055 585 8,835 7,038 548 26,816 1 1,152 657 3,267 33,182 16,458 27,365 - 83,159 3,702 68 2,605 477,713 221 244,724 16,087 796 300 - 249 74 77,895 6,535 1,165 34 55,689 3,395 421 28 100 25,336 103,988 2,7*J4 8,529 2,424 662 13,080 19,088 19,389 31,333 32,16s 31,509 46,964 1,710 5,790 8,537 7,813 65 3,223 11,337 - 11,402 1,500 1,250 1,000 72,716. 31,308 35,373 1(9,594 67,903 24 24 18 29 t 34,130 16,361 48,106 25,453 41,862 3,969 2,110 4,i4o 1,922 3,719 444 4oo 204 364 649 - 94,659 113,902 61,085 76,199 152,289 70 65,423 1,762 12,120 15,631 21,490 10,461 67,176 28,84$ 155 28,377 4,650 81,962 54 729 822,126 42,768 49,976 5,380,974 4i5,6o9 1,610,948 390,072 509,784 214,355 250,394 846,652 193,835 143,654 227,610 150,93s 427,123 L I A B I L I T I E S F.R. n o t e s i n actual c i r c u l a t i o n Deposits: Member bank - reserve account Government Foreign tank Other d e p o s i t s RESOURCES AMD LIABILITIES Of THE FEDERAL RESERVE BANKS ON JULY 17, I929 ( i n thousands of d o l l a r s ) Total Boston New York P h i l a . Cleve. Rich. Atlanta Chicago St.Louis 1,801,225 153,588 315,419 151,706 201,418 74,313 141,434 340,884 61,348 2,352,021 149,189 12,567 494 8,138 415 21,198 142 Total d e p o s i t s 2,393,984 Deferred a v a i l a b i l i t y items 742,129 Capital paid i n 161,547 Surplus 254,398 A l l other l i a b i l i t i e s 27,691 TOTAL LIABILITIES 5,380,974 Reserve r a t i o (per cent) 73.8 ^ * 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 442,526 F . R . n o t e s on hand (notes r e c ' d from 5*.H.Agent l e s s notes i n c i r c u l a t i o n ) 593.887 F . R . n o t e s r e c ' d from Comptroller F . R . n o t e s h e l d by F.R. Agent F . R . n o t e s i s s u e d 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 . n o t e s 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 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 79,853 10,396 19,619 1,913 415,609 77.9 "" n 1,450,273 1,104,651 2,599.025 1,083,700 67,638 13,265 300 A25_ 95,933 41,751 4,296 _J3_ 7.884 61,567 182,936 20,267 17,183 60,360 17,623 l i , o i 4 14,539 14,539 31,722 234,022 57,322 31,423 19,546 36,590 56,4O4 16,700 374,153 35,300 101,609 18,032 1,018,612 73,000 94,422 6o,44i 173,533 1,201 902 1,11: 185 185 4o 38,894 11,330 17.978 44,401 2,395,112 197,989 66,708 75,548 44,094 174,765 31,393 4,451 8.690 135,441 42,296 44,939 76,790 Minn. Kans.Cy. Dallas San Fran. 941,719 137,437 188,005 67,020 66,926 344,365 77,922 51,102 2,624 1,326 1,005 597 119 1,433 1,156 595 4,229 539 572 258 219 768 224 i4o 8,879 311 1.247 97 82 1.897 282 213 957,451 139,613 190,829 67,972 67,346 348,463 79,584 52,050 199,330 57,424 73,081 52,015 23,415 96,179 35,o6o 13,734 60,191 15,500 15,465 6,181 5,412 19,866 5,383 3,076 71,282 24,101 26,345 12,399 10,554 36,442 10,820 7,082 7,275—LI28 2,646 1.475 2.333 4.818 i.64o 1.004 1,610,948 390,072 509,784 214,355 250,394 846,652 193,835 143,654 66.5 77.6 77-9 62.2 65.7 82.9 55.1 77.0 32,603 3,845,385 274,779 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 Municipal warrants. 150,240 St. b265c 9,086 743 ^1.220 227,610 150,938 427 123 80.2 66.5 86-3 as! 8,805 11,549 15,245 81,880 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS a s s *ns ? , : s « a s a r e % % % s-ss m s 549,441 189,028 232,841 93,859 178,024 397,288 78,o4s 75,513 87,097 59,339 256,645 169,638 30,000 41,800 16,190 9,! 9,500 7,800 14,167 14,758 13,789 9,471 12,138 6,665 4,892 2,662 3,773 2,294 6,450 4,957 86,557 100,000 27,000 90,800 327,000 20,000 51,000 57,360 8,000 415,351 63,292 86,372 55.318 72,984 128,669 58,970 19,086 JUZL 37,193 35,000 16,486 177,895 78,580 55.066 204,912 598,7%<^ 109,320 24o,3lo 105,173 178,176 458,331 90,543 86,547 97,580 64,908 284 447 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEMESS AND MUNICIPAL WARRANTS Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days 91 days to Over 6 months 6 months 871,167 49,796 78,382 60,135 23,826 394 39,538 11,045 10,581 5,332 642 4,4io 100 8,027 487 241 300
@FedFRASER