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STATEMENT FQR THE PRESS Releassdftsr p j b l i c a t i o n F r i d a y morning, J u l y 26; not e a r l i e r . st. 6271 F e d e r a l Reserve Board, J u l y 25, I 9 2 9 . C COITION OF FEDERAL RESERVE BANKS 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 r e s e r v e banks on J u l y 24, made p u b l i c "by t h e F e d e r a l Reserve Board, shows d e c r e a s e s f o r the week of $19,700,000 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 and of $7,400,000 i n Government s e c u r i t i e s , and an i n c r e a s e of $1,200,000 i n h o l d i n g s of b i l l s bought i n open market. Member bank r e s e r v e d e p o s i t s i n c r e a s e d $4,800,000, Government d e p o s i t s $4,700,000 and c a s h r e s e r v e s $28,100,000, while 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 d e c l i n e d $20,800,000. T o t a l b i l l s and s e c u r i t i e s were $25,000,000 below t h e amount h e l d on J u l y 17. Holdings of d i s c o u n t e d b i l l s d e c l i n e d $24,800,000 a t t h e F e d e r a l Reserve Bank of New York, $19,100,000 a t Chicago and $8,600,000 a t Cleveland, and i n c r e a s e d $16,000,000 a t San F r a n c i s c o , $4,500,000 a t P h i l a d e l p h i a and $3,900,000 a t D a l l a s . The System* s h o l d i n g s of b i l l s bought i n open market i n c r e a s e d $>1,200,000 and of Treasury c e r t i f i c a t e s $8,600,000, while h o l d i n g s of Treasury n o t e s d e c l i n e d $16,000,000. 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 i n c r e a s e d $7,100,000 a t A t l a n t a and d e c r e a s e d 58,500,000 a t New York, $6,500,000 a t Chicago, $5,400,000 a t San F r a n c i s c o and $20,800,000 a t a l l F e d e r a l r e s e r v e banks. 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 b a n k s , t o g e t h e r w i t h changes during t h e week and t h e y e a r ending J u l y 24, 1929, follows: I n c r e a s e or decrease s i n c e J u l y 24.1929 J u l y 17,1929 J u l y 25, 1928 ( i n thousands of d o l l a r s ) Tot al r e s e r v e s . G-old r e s e r v e s 2,125,743 2,943,732 + + 14,156 + 364,558 339,701 T ot al b i l l s and s e c u r i t i e s 1,288,748 ~ 25,960 - - H3,575 4+ 38,847 11,649 50,496 100,241 B i l l s discounted, t o t a l Secured 1jy 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 B i l l s bought i n open market . . . 1,063,956 584,736 479,220 68,842 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 . 145,700 42,663 81,155 21,882 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 1,780,403 T ot al 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 2,402,127 2,356,917 17,257 c . . . 28,067 19.744 26,426 4- 6,682 + — + 1,204 -_ - 7,415 0 — 61,941 12,381 6.051 43,509 + 16,026 8,617 - - 20,822 + 173,821 8,143 + + 56,011 M + + 4- 4,836 4,690 - 57,024 3,074 Released f o r p u b l i c a t i o n Priclay morning, J u l y 26, 1929; &ot e a r l i e r . S t . 6271a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL R3S3RYE BANKS COMBINED ( I n thousands of d o l l a r s ) J u l y 24,1929 J u l y 17,1929 J u l y 25. 1928 RESOURCES Gold with 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 ?rith U.S.Treasury 1,50%,983 88,842 1,494,374 79,^07 1.119#717 71,4q6 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 1,593,825 Gold s e t t l e m e n t f u n d with F. R. Board 6o8,264 Gold and gold c e r t i f i c a t e s h e l d "by t a n k s 741,643 1,573,981 1,191,123 610,822^.,^ 680,5^1 l ^ W r t 5 e>' 732,347 Total gold reserves Reserves o t h e r than gold . . • • • • • 2,943,732 182,011 2,929,3j[6_g- 2,604,031 l63,%0Q i f 157.154 Total reserves . . . . 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 3,125,743 75»804 3,097,676 79,275 2,761,185 64,517 584,736 479»220 6ll,l62 472,538 59"»385 428,724 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 . . . . 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 1,063,95& 68,842 , 42,663 81,155 1,083,700 67,638 , 42,669 97,181 21,882 13,265 145,700 10,250 153,115 10,255 1,025,109 169,083 .. 55,044 87,206 65,391 207.641 %9Q 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 1,288,748 728 718,180 58,725 10,454 1,314,708 729 822,126 58»6l4 7.846 l,4o>8,323 573 626,843 60,113 8,628 5,278,382 5,380,974 4,924,182 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 1,780,403 1,801,225 1,6O6,582 2,356,917 17,257 7,376 20,577 2,352,081 12,567 8,138 21,198 2,299,893 20,331 8,651 17»241 Total deposits 2,402,127 2,393,984 2,346,116 651,9^8 l6l,4o6 254,398 28,100 742,129 l6l,547 .254,398 27,691 574,543 143,024 233.319 20,598 5,278,382 5,380,974 4,924,182 . . . • • * • TOTAL RESOURCES Deferred a v a i l a b i l i t y i t e m s . . . . : Capital paid in . . . . . . Surplus A l l 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 . . 74.7 73*8$ 69.9# Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents . . . . 446,980 442,5^ 305.452 C RESOURCES MD LIABILITIES OF THE FEDERAL RESERVE BANKS OS JULY 24, l$2$ S t . 6269b ( i n thousands of d o l l a r s ) Total Boston Hew York Phi l a . Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cyi Dallas San Fran. Gold with Federal Reserve Agents 1,504,983 125,896 223,351 125,478 l 6 l , 2 4 l 45,20? 103,349 329,611 23,803 6o,682 64,248 24,591 216,526 Gold redemption fund with U.S.Treas. 88,842 12,985 20,093 10,251 3,963 5,829 3,736 7,310 8,044 3,081 7,582 2,116 3,852 Gold h e l d exclusively a g a i n s t F. R. n o t e s 1,593,825 139,881 243,444 135,729 165,204 51,036 107,085 336,921 31,847 63,763 71,830 26,707 220,378 Gold settlement fund with F.R.Board 608,264 55,256 111,174 47,946 96,791 25,267 16,670 121,041 22,084 17,084 55,220 17,072 22,659 Gold and gold c e r t i f . h e l d by banks 741,643 27,161 463,135 28,624 41,780 7,398 3,577 106,946 9,550 6,64o 5,569 11,439 29,824 Total gold r e s e r v e s 2,943,732 222,298 817,753 212,299 303,775 83,701 127,332 564,908 63,481 87,48? 132,619 55,218 272,861 182,011 11,516 Reserves o t h e r than gold 75,451 9,793 7,489 6,910 7,995 23,730 10,181 3,163 4,157 5,899 15,727 RESOURCES Total r e s e r v e s Son-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 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 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 A l l o t h e r resources TOTAL RESOURCES C 3,125,743 233,814 75,804 9,891 893,204 222,092 311,264 90,611 135,327 588,638 73,662 90,650 136,776 61,117 288,588 24,211 1,719 3,504 4,390 6,562 8,183 5,904 1,450 2,115 3,i4o 4,735 584,736 39,852 479,220 33,034 1,063,956 72,886 68,842 9,051 275,925 49,310 50,508 19,963 11,277 46,580 24,850 11,325 12,770 13,578 28,798 122,181 28,801 24,595 38,020 58,378 55,340 34,088 9,977 18,801 21,849 34,156 398,106 78,111 75,103 57,983 69,655 101,920 58,938 21,302 31,571 35,427 62,954 13,102 3,716 3,986 2,023 5,890 9,726 199 1,747 1,631 6,728 11,043 42,663 689 155 81,155 1,522 12,36? a , 882 1,055 12,805 145,700 3v266 25,327 10,250 2,600 1,288,748 85,203 439,135 728 220 54 718,180 72,69s 211,804 16,087 58,725 3,702 10,454 73 773 5,278,382 405,435 1,585,434 18 •19,937 7,125 4,576 54s 1,152 7,813 585 65 8,835 26,816 3,223 11,337 657 3,039 3.032 6,500 3,827 1 12 7,038 38 924 9 — 16,458 27,365 1,809 3,095 23.893 13,625 8,415 11,045 11,402 — 300 3,600 1,500 1,250 1,000 98,585 106,454 61,815 78,64o 135.539 72,762 35,064 34,702 54,450 86,399 24 "28 24 70 18 74 34 100 29 53 55,233 71,560 48,121 19,695 88,023 29,097 13,876 47,156 25,410 35,507 1,762 6,535 3,395 2,744 8,529 3.988 2,110 4,i4o 1,922 3.811 261 1,181 422 4,948 446 4o6 402 645 205 692 379,722 :500,572 208,788 247,944 829,704 :185,844 :143,813 225,118 :146,509 419VV99 L I A B I L I T I E S RESOURCES AMD LIABILITIES 03P THE FEDERAL EBSERVB 'BHKS ON JULT 24, 1929 (In thousands of d o l l a r s ) St. 6269c Total Boston Hew York P h i l a . Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 1,780,403 154,372 306,844 150,04a198,905 74,813 148,487 334,425 60,442 64,947 74,544 43,253 169,329 F.R.notes in 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 2,356,917 Government 17,257 Foreign bank 7,376 Other deposits 20,577 Total d e p o s i t s 2,402,127 651,948 lief e r r e d a v a i l a b i l i t y items 161,4@6 Capital paid in 254,398 Surplus 28,100 All other l i a b i l i t i e s 5,278,382 TOTAL LIABILITIES 74.7 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 446,980 chased f o r f o r e i g n correspondents F . R . n o t e s on hand ( n o t e s r e c ' d from F.R.Agent l e s s n o t e s i n c i r c u l a t i o n ) 585,234 147,175 198 415 149 147,937 70,964 10,549 19,61 1,99' 949,514 136,448 186,735 2, soi 3,467 8,667 964,449 175,750 60,132 71,232 6,977 905 539 44 137,936 50,339 15,502 24,101 1,802 1,126 66,666 572 678 258 2,718 1,539 1,082 70 139,515 67,672 67,655 46,179 15,434 6,186 26,345 12,399 405,435 1,585,434 379,722 500,572 208,788 77.3 70.3 77.1 80.1 63.6 61,660 173,237 2,970 1,043 1,430 1,606 983 1,930 768 224 i4o 185 185 4o4 902 277 223 170 32 8,801 353,888 77,991 55,731 97,086 62,860 184,372 80,120 29,690 11,904 39,094 26,471 35,219 19,867 5,185 3,077 4,292 4,464 11,315 36,442 10,820 7,082 9,086 8,690 17,973 2,247 4,962 1,716 1,072 1,016 771 1,286 247,9*44 829,704 185,844 143,813 225,118 146,509 419,499 64.1 85.5 53.2 75.1 79.7 57.6 81.6 6o,724 349,248 1,587 219 160 62,690 18,563 5,403 10,554 76,447 95,125 45,138 20,356 17,259 60,626 17,701 11,063 14,603 14,603 31,862 32,747 138,540 47,521 2^0,456 37,036 28,639 18,358 29,564 50,668 15,156 42,482 53,938 9,342 8,671 14,962 84,861 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F.R.notes r e c ' d from Comptroller F.R.notes h e l d 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 3,814,484 280,743 1,448,847 78,850 2,365,637 201,893 371,153 35,300 1,031,033 73,000 102,797 18,596 1,079,006 81,784 2,583,989 208,680 930,045 259,398 313,4i4 187,325 315,478 630,973 121,868 152,928 145,245 80,557 396,510 382,745 72,320 85,870 94,15% 137,427 245,880 46,270 78,639 62,030 ^22,342 142J20 547,300 187,078 227,544 93,171 178,051 385,093 75,598 74,289 83,215 58,215 254,190 169,638 30,000 38,800 16,190 9,500 7,800 14,167 14,758 35,000 13,713 12,221 12,441 7,017 5,749 2,611 3,003 3,515 4,888 3,833 15,210 40,000 83,257 110,000 22,000 88,100 327,000 13,000 43,000 59,360 6,00c 166,3;'6 385,180 65,537 77,957 52,242 75,417 111,171 53,987 22,979 33,0/3 42,062 72,617 608,531 191,015 239,198 97,% 178,766 440,782 82,790 83,661 97,321 66,653 229,143 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF HDEBTEDEESS AID MUNICIPAL WARRANTS 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 liunicipal warrants Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days 1,063,956 ' 58,842 21,882 300 84$,120 40,059 47,285 81,913 10,445 7,467 66,435 12,325 10,690 7,296 1,090 300 91 days to 0 months 21,913 352 761 over 6 months 290 239
@FedFRASER