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Released f o r p u b l i c a t i o n ,
Friday morning, June l 4 ;
not e a r l i e r .
STATEMENT FOR THE PRESS
st. 6225
Federal Reserve Board
June 13, 1929
CONDITION OF FEDERAL RESERVE BANKS
The c o n s o l i d a t e d statement of condition of the Federal r e s e r v e "banks on
June 12, made p u b l i c by the Federal Reserve Board, shows a decrease f o r the
week of $4$,$00,000 in h o l d i n g s of discounted b i l l s and i n c r e a s e s of $22, $00,000
in holdings of Government s e c u r i t i e s and of $1,400,000 in b i l l s "bought in open
market. Member "bank reserve d e p o s i t s increased $6,900,000, Government d e p o s i t s
$2,700,000 and cash r e s e r v e s $39,800,000, while Federal r e s e r v e note c i r c u l a t i o n
declined $3,200,000. Total "bills and s e c u r i t i e s were $19,600,000 "below the
amount h e l d on June 5.
All of the Federal r e s e r v e banks, except New York and Cleveland, show
r e d u c t i o n s i n h o l d i n g s of discounted b i l l s , the p r i n c i p a l changes f o r the
week being an i n c r e a s e of $15,800,000 a t New York and decreases of $19,800,000
a t Chicago, $9,500,000 a t P h i l a d e l p h i a , $8,300,000 a t San F r a n c i s c o , $7,500,000
a t A t l a n t a and $7,100,000 a t Kansas City. The System's holdings of b i l l s
bought i n open market i n c r e a s e d $1,400,000, of Treasury n o t e s $11,900,000 and
of Treasury c e r t i f i c a t e s $14,600,000, while holdings of U. S. bonds declined
$4,000,000.
F e d e r a l r e s e r v e note c i r c u l a t i o n inc re ase d $5,100,000 a t Cleveland and
$2,300,000 a t H i i l a d e l p h i a , and declined $4,100,000 a t Chicago, $3,100,000
a t A t l a n t a and $3,200,000 a t a l l Federal r e s e r v e banks.
A summary of the p r i n c i p a l a s s e t s and l i a b i l i t i e s of the r e s e r v e banks,
together with changes during the week and the year ending June 12, 1929, f o l l o w s ;
Increase or dccroaso sinco
Total r e s e r v e s
Gold r e s e r v e s
June 12.1929 June 5. 1929 June 11.1928
( I n thousands of d o l l a r s )
+ 39,838
+ 291,190
3,025,189
+ 295,224
+ 31,662
2,875,630
. . . . . .
Total b i l l s and s e c u r i t i e s . . . . . .
19,618
1,227,818
-
B i l l s discounted, t o t a l
Secured by U.S. Govt, o b l i g a t i o n s .
Other b i l l s discounted . . . . . .
933,911
474,086
459,825
-
-
8,707
108,947
210,427
+ 101,480
B i l l s bought in open market
114,117
+
1,370
-
126,300
-
53,423
18,942
. . . .
U. S. Government s e c u r i t i e s , t o t a l .
Bonds
Treasury n o t e s
C e r t i f i c a t e s of indebtedness . . .
169,873
44,630
97,244
27,999
Federal reserve n o t e s i n c i r c u l a t i o n .
Total d e p o s i t s
Members' r e s e r v e d e p o s i t s
Government d e p o s i t s
W.
•
43,533
34,826
+
+
22, 545
3,995
11,949
14,591
1,644,216
-
3,219
2,376,215
2,328,232
18,700
+
+
+
+
-
-
—
+
20,660
-
55,141
+
38,791
+
59,924
64,201
1,681
10,437
6,889
2,677
279,843
Released f o r p u b l i c a t i o n Friday morning, June l 4 , 1929; not e a r l i e r .
S t . 6225a
RSS0TJEC3S A3TB LIABILITIES
OF THE T1B1VS FEDERAL EE SERVE B:A$fKS COMBUSTED
{In thousands of d o l l a r s )
RESOURCES
Gold with Federal r e s e r v e agents . . .
Gold 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.notes
Geld s e t t l e m e n t f u n d with F. R. Board .
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
Total gold r e s e r v e s
Reserves other than gold
Total r e s e r v e s
Hon-reserve cash
B i l l s discounted:
Sec. by U.S.Govt, o b l i g a t i o n s
Other "bills discounted
Total b i l l s discounted
B i l l s bought i n onen market
U. S. Government s e c u r i t i e s :
Treasury n o t e s . . . . . C e r t i f i c a t e s of indebtedness
June 12.1929
June 5.1929
June 13.1928
1,318,752
66,118
1,384,900
691,678
799,052
2,875-630
149,559
1,303,555
67,938
1,118,486
7l,lSl
1,371,543
679,733
1,139,667
792.692
741,018
649,721
2,843,968
14-1,383
2,58O,4O6
153,593
2,985,351
79,385
2,733,999
65,139
508,912
468,532
977,444
112,747
684,513
358,345
1,042,858
24o,4i7
>8,625
63,572
76,584
3,025,189
83,6O4
. . .•
474,036
459,825
933,911
114,117
. . .
Total U.S.Government s e c u r i t i e s
Othe.r 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 f o r e i g n banks
Uncollected items
.
Bank premises
.
A l l other resources
TOTAL RESOURCES . . . .
44,630
97,244
27,999
169,873
. 9,917
1,227,818
85,295
13,408
147,328
9,917
83,l4o
223,296
1,090
1,247,436
727
723,705
58,595
1,507,661
572
748,112
8,119
10,010
5,150,751
5,103,318
5,125,573
1,644,216
1,647,435
1,605,425
2,328,232
13,700
6,225
2,321,343
2,392,433
2,376,215
2,365,778
649,782
157,507
729
746,312
58,613
8,486
60,080
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 . .
Deposits:
Member bank - r e s e r v e account . . .
Government
. . . . .
. .
Foreign bank
Other d e p o s i t s .
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 . . . . . ^ .
TOTAL LIABILITIES
. . . *
R a t i 6 of t o t a l r e s e r v e s t o deposit 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 foreign correspondents . . . .
C.
23,058
683,296
157,931
254,398
29,695
5,150,751
16,023
6,744
21,66s
17,019
8,832
17,855
2,436,139
254,39s
23,418
691,028
139,719
233,319
19,943
5,103,318
5,125,573
75.2#
74.4#
67-656
4O5,24O
392,415
295,525
RESOURCES
.
_
EE SOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BASKS OH JUNE 12, 1929
( i n thousands of d o l l a r s )
Total
Gold h e l d e x c l u s i v e l y a g a i n s t
F. B . n o t e s
l,38%,900
-settlement fund with F.R.Board 691,678
sola, c e r t i f . h e l d by hanks 799,052
Boston New York Phi l a .
^
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 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
933,911 97,273
114,117 15,547
T o t a l U.S.Govt, s e c u r i t i e s
Other s e c u r i t i e s
169,873
9,917
^
279,974 116,055 156,265
83,352 156,051 57,563 74,451
25,692 499,063 28,078 49,003
176,388 934,688 201,696 279,719
67,344
Total gold r e s e r v e s
2,875,630
Reserves 0±her than gold
149,559 10,993
% t a l reserves
3,025,189 187,381
Non-reserve c a s h
83,6o4 7,176
B i l l s discounted:
Secured py U.S.Govt, o b l i g a t i o n s
474,086 53,321
Other b i l l s discounted
459,825 43,952
44,630
97,244
27,999
Cleve.
689
1,524
1,349
3,562
45,307
979,995
36,675
135,226
V90.475
225,701
28,519
2,832
24,142
18,365
45,339
1,915
Rich. A t l a n t a Chicago S t . L o u i s
i -M
^
41
5
t $
88,954 285,372
18,043 103,0l4
6,425 113,853
28,368 62,013
f
1 9
M
i : %
43,628
_
729
746,312
54
76,528
222
199,784
70
65,739
74
71,300
34
53,496
^
TOTAL RESOURCES
Minn. Kans.Cy. Dallas San Fran.
21,905 196,111
4o,132 18,995 51,112 26,728 47,766
lo,oo4
5,900 5,5o4 11,162 27,629
70,521 113,422 502,239 78,504 86,908 100,244 59,795 271,506
7,107 10,4l9
8,013
6,544 26,464
9,i42
2,193 4,758 6,111 12,508
208,803 290,138 78,534 119,966 528,703 87,646 89,101 105,002 65,906 284,014
1,766 3,629 4,905 5,802 8,622 4,564 1,336 2,281 3,359 3.489
47,618 59,120 22,818 14,526 68,864 20,659 6,405 14,694 9,180 21,655
29,376 39,111 33,566 55,058 51,274 25,689 s,46i 33,319 14,691 34,853
76,994 98,231 56,384 69,534 120,13s *j6,34S 14,866 48,013 23,871 56,50s
10,348 7,638 4,o%6 8,464 11,091
6s4 2,678 4,283 8,582 12,237
585 i,4oo 1,152
216 2i,4o4 2,125 4,939
8,352
936
8,835 26,816
657 3,037 4,346 9,500 3,828
3,223 11,336
7,027
455
680
86
19
IS
16,447 28,671 1,809 3,272 26,430 11,625 8,853
11.593 12,272
402
4,100 1.500 1,250
750
39,311
l4,4yi
16,739
Total b i l l s and s e c u r i t i e s
Itoe from f o r e i g n banks
Uncollected items
S t . 6225
5,150,751 391,285 1,535,535 382,627 507,618 203,o4o
28
21,627
100
29
94,570 33,576
e
18
15,229
-%
233,550 798,934 188,858
^"24
24
41,395 26,682
%
138,852
"52
46,386
3
f7s0
206,854 143,602 419,996
I I AB I L I I I
S
RESOURCES AND LIABILITIES OF THE FjSDERAL RESERVE BANKS OH JUNE 12, 1929
( i n thousands of d o l l a r s )
St. 6225c
Total Boston New York Phi l a . CI eve.
Rich. A t l a n t a Chicago St. Louis Minn. Kans.Cy. Dallas San Fran.
1,644,216 139,528
269,748 143,138 207,709 64,948 122,97s 305,488 57,033 61,924 67,280 37,716 160,726
P.E.notes in actual circulation
Deposits:
Member "bank - reserve account
2.32S,2J2
Government
18,700
Foreign bank
6,225
Other d e p o s i t s
23,053
Total de-posits
2,376,215
Deferred a v a i l a b i l i t y items
688,296
Capital paid in
157,931
Surplus
254,393
All other l i a b i l i t i e s
29,695
TOTAL LIABILITIES
3,150,751
Reserve r a t i o (per c e n t )
75.2
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
4o5,24O
P»R»notes on hand (notes 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 ) 469,215
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 issued to F.R.Bank
C o l l a t e r a l hold a s s e c u r i t y f o r
F . R . n o t e s 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
l,l4i
29,971
122,944
38,882
23,706
183,305 38,818
2,329,674 171,619
933,911
27,999
402
7,156
639
1,726
1,530
41,311
18,631
64,480 341,429
1,45s
#60
2,633
912
77,230
l,4o4
51,072
16,200
10,125
1,669
266
166
87,047 63,8k) 172,662
1,827 1,077
777
220
220
479
679
306
1,313
100
182
763
2,265
221
137
28 10,702
145,356
189,048 67,066 66,380 345,737 81,165 53,128 89,231 65,165 184,620
74,479 178,062 59,790 66,482 50,944 20,110 86,582 32,968 12,512 35,610 26,780 43,977
10,385
57,584 15,303 15,120 6,173 5,393 19,738 5,193 3,067 4,276 4,445 11,254
19,619 71,282 24,101 26,345 12,399 10,554 36,442 10,820 7,082 9,086 8,690 17,978
1,918
7,905 1,930 2,914 1,510 2,135 4,947 1,679 1,139 1,371
806 1,441
391,285 1,535,535 382,627 507,61s 203,0k) 233,550 798,934 188,85s 138,852 206,854 143,602 419,996
65.8
80.3
74.2
73.1
59*5
6l.4
81.2
63.4
77.4
67.1 64.1 82.2
371,145 35,300
90,753 10,577
856,88k 13,000
1,010,892 112,742
114,117
940,091 136,547 185,330 65,130
2,122
1,585
3,595,313 285,324
1,482,332 122,090
2,113,431 163,234
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
C
143,374
1,336
493
153
38
950,954 138,365
13,366
13,366
29,161
33,377 17,852 32,032 33,908 8,677 8,598 12,344
FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS
9,719
66,879
15,796
55,487
212,016 352,356 192,011 284,410 529,976 104,060 154,166 141,334 73,977 384,945
30,060 111,270 109,211 123,400 190,580 33,350 83.644 61.710 26.542 157.34o
453,053 181,956 241,086 82,800 l6i,oio 339,396 65,710 70,522 79,624
881,238
428,185
. 14,758 35,000
171,880 30,000 43,800 7,690 10,500
8,050 14,167
13,931 10,239 12,423 5,263 6,841 2,818
695 2,273 3,937 3,532 18,174
80,000 70,897 95,000 22,000 67,000 277,000 13,000 43,000 34,360 2,000 139,627
236,445 75,879 105,617 54,976 77,868 130,965 46,665 :-$7,4S6 52,094 32.387 67=768
502,306 157,015 256,840 89,929 162,209 410,733 68,410 76,926 90,391 52,677 260*569
MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF HDEBTEjEESS AND MUNICIPAL WARRANTS
91 days to
Within 15 days
l 6 to 30 days
31 to 60 days
6l to 90 days
Over 6 months
6 months
713,597
51,665
84,307
51,090
32,188
1,064
62,241
23,974
16,653
8,640
2,609
18,835
12
1,607
7,545
102
300
@FedFRASER