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SSAEEMSKI .FOB THE PRESS Released for publication Friday morning, March 15; not e a r l i e r . St. 6127 Federal Reserve Board, March l 4 , 1929 CONDI TIOH OF FEDERAL RESERVE SA17KS f » • • • l The consolidated statement of condition of the Federal reserve banks on March 13, made public by the Federal Reserve Board, shows decreases for the week of $33,500,000 in holdings of discounted b i l l s and of $21,500,000 in b i l l s bought in open market and an increase of $2,300,000 in U. S. Government s e c u r i t i e s . Member bank reserve deposits increased $12,100^000 and cash reserves $24,800,000, while Government deposits declined $13,800,000 and Federal reserve note c i r c u l a t i o n $16,600,000. Total b i l l s and s e c u r i t i e s were $45,200,000 below the amount held on March 6. Holdings of discounted b i l l s declined $45,900,000 at the Federal Reserve Bank of New York, and $7,400,000 at Boston, and increased $11,500,000 at Cleveland, $6,900,000 at Philadelphia and $4,500,000 at Chicago. The System's holdings of b i l l s bought in open market declined $21,500,000, while holdings of Treasury c e r t i f i c a t e s increased $2,500,000. During the week the Federal reserve banks made a loan on gold of $7,562,000 to a foreign correspondent. The amount of the loan appears in the accompanying statement against the caption "Foreign loans on gold." Federal reserve note circulation was $16,600,000 l e s s than a week ago, decreases of $9,400,000 at New York, $3,700,000 at Chicago and $3,200,000 at San Francisco being partly o f f s e t by increases of $3,100,000 at Cleveland and $2,000,000 and Philadelphia. A summary of the principal 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 March 13, 1929, follows; Increase or decrease since Mar. 13, 1929 Mar. 6, 1929 Mar. l 4 . 1928 (In thousands of dollars) Total reserves . . . . . . . . Gold reserves . . . . . 2,860,389 2,700,125 +24,797 + 17,288 - 96,328 - 88,292 Total b i l l s and s e c u r i t i e s 1,421,833 - 45,197 +204,324 B i l l s discounted, t o t a l . . . . . . Secured by UjS.Govt. obligations . Other b i l l s discounted 955,623 583,135 372,488 - 33,5^9 - 22,91s - 10,631 +433,327 +297,880 +135,447 B i l l s bought in open market . , . . 283,101 - 21,543 - 60,225 U.S. Government s e c u r i t i e s , t o t a l . Bonds . . . . . . . . . Treasury notes . . . C e r t i f i c a t e s of indebtedness . . . 165,297 51,618 90,502 23.177 + 2,333 + 24 169 + 2,478 -235,590 - 7,139 -102,919 -125,432 Federal reserve notes in circulation . 1,650,009 -16,558 + 75,895 Total deposits . , Members' reserve deposits Government deposits . . 2,396,785 2,362,567 7,773 - 5,759 +12,070 -13,804 - 6,l4i + 143 - 11,202 W. . Released f o r publication Friday morning, March 15, 1929! not e a r l i e r . St.6l2Ja HESOIECSS AED LIABILITIES OF THE TWELVE FEDTRAL ICS.SP.VE B2HKS COIxBIEBD (in thousands of dollars) Mar, 11,1929 Kar.6.1929 Mar.lH.1928 RESOURCES Gold with Federal reserve agents . . . . Gold redemption fund with U.S.Treasury . Gold held exclusively against F.R.notes 1,213,407 #4,353 1,277.760 1,183,910 62,119 1,246,029 1,369,178 58,576 1,427,754 Gold settlement fund with F. R. Board Gold and gold c e r t i f i c a t e s Total gold reserves Reserves other than gold 767,446 654,919 2,700,125 788,107 64 s. 701 2,682,837 160,264 152,755 735,014 625,649 2,788,417 168,300 2,860,389 2,835,592 2,956,717 78,312 75,231 70,013 583,135 372,488 955,623 606,053 383,119 285,255 187,041 989,172 304,644 472,296 51,618 90,502 23,177 165,297 10,250 7,562 51,594 90,671 20,699 162,964 58,807 193,^21 148,659 400,887 10,250 1,000 1,421,833 1,467,030 1,217,509 724 754,786 58,691 8,255 725 678,433 58,660 8,062 570 744,469 59,265 12,159 5,182,990 5,123,783 5,060,702 F. R. notes in actual c i r c u l a t i o n 1,650,009 1,666,567 1,574,114 Deposits: Member "bank - reserve account Government Foreign "bank Other deposits 2,362,567 7,773 5,834 20,611 2,350,497 21,577 9.766 20,704 2,362,424 18,975 4,305 17,222 2,396,785 708,172 152,521 254,398 21,105 2,402,544 628,729 152,118 254,39s 19,427 2,402,926 701,004 136,456 233,319 12,883 5,182,990 5,123,783 5,060,702 Total reserves ^on-reserve cash , B i l l s discounted: Sec. by U. S. Government obligations Other "bills discounted Total "bills 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. Government s e c u r i t i e s Other s e c u r i t i e s . Foreign loans on gold Total "bills and s e c u r i t i e s . . Due from foreign "banks Uncollected items . . . Bank premises . . . . All other resources . TOTAL RESOURCES . . . . 283,101 343,326 X L I AB I L I T I E S Total deposits Deferred a v a i l a b i l i t y items Capital paid in . Surplus All other l i a b i l i t i e s . . . . . TOTAL LIABILITIES Ratio of t o t a l reserves to deposit and F. R. note l i a b i l i t i e s combined . . . 70. Ij, 69.7# 74.3# Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents 306,944 303,397 239,660 W. RESOURCES RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS OH MARCH 13, 1929 (in thousands of dollars) Total Boston New York Phila, 87,861 8,697 2^1,781 l4,4l4 89,329158,71+0 6,642 4,303 48,825 107,737 1,748 3,272 96,558 69,485 24,661 256,195 291,984 4l0,l48 95,971 163,043 24,663 75.571 39.449 4-5,104 50,573 111,009 210,829 19.797 15,564 108,724 14,395 7,309 54,074 28,154 27,289 10,549 50,816 26,588 5,217 56,427 43,112 5,245 23,762 134,423 27,002 37,667 10,754 28,014 958,327 160,083 283,718 43,315 7,152 10,309 8^,765 133,882 373,627 8,094 10,4pi 17,903 65,992 16,022 82,621 104,784 2,764 5,719 61,518 200,104 7,134 14,928 2,860,389 207,227 1,001,642 167,235 294,02? 92,859 144,283 391,530 82f01'4 85,385 110,503 68,652 215,032 Gold with Federal Reserve Agents 1,213,407 Gold redemption fund with U.S.Treas. 64,353 Gold held exclusively against F. R. notes 1,277,760 Gold settlement fund with F.R.Board 767,446 Gold and gold c e r t i f . held "by banks 654,919 Total gold reserves Reserves other than gold Total reserves Non-reserve cash B i l l s discounted: Secured "by U.S.Govt, obligations Other "bills discounted Total M i 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 Foreign loans on gold Total M i l s and s e c u r i t i e s Due from foreign "banks Uncollected items Bank premises -All other resources TOTAL RESOURCES 2,700,125 190,704 160,264 16,523 Gleve, Rich. 78,312 7,196 29,951 2,472 5,018 5,354 583,135 372,488 35,750 15*374 145,749 78,971 63,680 34.636 51,795 21.830 955.623 283,101 51,124 34,209 224,720 65,276 98,316 21,893 51,61s 90,502 23.177 689 2,630 1.773 1,384 9,087 3,007 165,297 10,250 7,562 5,092 13,478 2,65$ 1,421,833 7?4 754.786 58,691 8,255 91,025 54 73.394 3,702 ?4 600 Atlanta Chicago St.Louis St. 6l2fb 4,745 202,564 8,265 23,589 Minn. Kans.Cy. Dallas San Fran. 48,585 *,5&5 2,231 53,677 2,750 21,513 129,206 2,249 5,217 8,137 4,322 1,352 1,850 3,318 4,597 19,446 21.479 l4,744 124,492 36.824 89.655 23,342 18.043 l4,130 1.907 15,289 15.910 10,216 5.699 64,502 12.160 73,625 27,672 4o,925 12,483 51,568 2l4,i47 12,221 27,872 41,385 8,853 16,037 9,702 31,199 9,521 15,915 16,529 96,662 36,870 585 9,870 8,06l 548 28,023 990 1,152 903 301 27 3,^3 292 19,937 5,293 5.596 7,125 11,253 585 4,519 4,385 438 7,755 902 1,106 7,833 2,175 - 64 12,578 1.028 18,516 778 29,561 827 2,356 348 3,722 295 30,826 1,036 18,963 302 9,342 2,000 203 9,763 1,500 250 10,008 6,000 267 13,670 750 306,130 139,503 131,685 219 70 74 199,695 62,844 66,999 16,087 1,752 6,535 914 32S 1,269 56,112 33 55,897 3,575 506 67,806 273,881 28 99 27,949 96,915 2,744 8,527 1,644 875 69,503 29 34,912 3,893 513 37,284 18 13,197 2,110 745 52,233 24 41,580 4,l4o 378 48,719 24 31,325 1,922 567 5,182,990 382,6721,554,63s 374,204 505,607 214,336 249,199 779,964 195,186 140,091 212,708 154,527 l47,952~~ 52 48,079 3,704 442 419,858 RESOURCES AlfD LIABILITIES OF THE "FEDERAL RESERVE BASICS OF MARCH 13, 1929 St. 6127c (in thousands of dollars) L I A B I L I T I E S Total Boston Hew York Ehila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas F. R. notes in actual c i r c u l a t i o n 1,650,009 129,854 293,676 I4O,O62 207,615 72,774 137,671 277,633 59,251 62,912 66,84i 38,471 Deposits: Member "bank - reserve account 2,362,567 149,053 931,601 135,433 189,295 69,086 66,886 350,486 80,031 53,268 92,029 70,172 Government 7,773 144 2,997 190 886 435 195 274 648 563 101 355 Foreign "bank 5,834 433 1,757 562 597 269 228 801 234 146 193 193 Other deposits 20,611 78 8,023 764 99 95 151 867 2,123 249 260 35 Total deposits 2,396,785 149,708 944,378 136,284 191,542 69,885 67,463 352,428 83,036 54,226 92,583 70,755 Deferred a v a i l a b i l i t y items 708,172 72,116 180,462 57,805 63,452 51,935 26,653 90,999 35,184 11,794 38,890 31,547 Capital paid in 152,521 10,308 54,439 14,970 14,683 6,224 5,324 18,467 4,300 5,506 3,098 4,443 Surplus 254,395 19,619 71,282 24,101 26,345 12,399 10,554 36,442 10,820 7,082 9,086 8,690 A l l other l i a b i l i t i e s 21,105 1,067 5,401 982 1,970 1,119 1,534 3,995 1,008 1,389 621 979 TOTAL LIABILITIES 5,132,990 382,672 1,554,638 374,204 505,607 214,336 249,199 779,964 195,186 l4o,Q9l 212,708 154,527 Reserve ratio (per cent) 74.1 80.6 60.5 70.7 73.7 65.1 70.3 62.1 57.6 72.9 69.3 62.9 Contingent l i a b i l i t y on b i l l s purchased for foreign correspondents 306,944 22,533 94,708 29,232 31,059 14,007 11,876 41,716 12,180 7,613 10,048 10,048 F.R.notes on hand (notes ree'd from F.R.Agent l e s s notes in circulation) 399,232 20,879 118,074 4i,667 32,627 16,778 32,216 32,047 10,943 s,o4o 10,693 9,307 FEDERAL RESERVE MOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F.R.notes roe'd from Comptroller 2,882,693 227,708 766,625 214,709 272,872 109,903 221,917 418,200 83,224 86,951 104,814 61,160 F.R.notes hold by F.R. Agent 833,452 76,975 349, *>75 32,980 32,630 20,351 52,030 108,520 13,030 15,999 27,230 13,382 F.R.notes issued to F.R. Bank 2,049,241 150,733 416,750 181,729 24o,242 89,552 169,887 309,680 70,194 70,952 77,534 47,778 Collateral held as security for F.R.notes issued to F.R.Baric: Gold and gold c e r t i f i c a t e s 363,195 35,300 171,880 50,000 6,690 27,350 8,050 14,167 14,758 Gold redemption fund 99,244 19,561 14,901 12,752 13,740 8,135 4,387 1,564 1,539 1,418 3,317 3,755 Gold fund - F. R. Board 750,968 33,000 55,000 76,577 95,000 34,000 76,000 201,000 14,000 33,000 50,360 3,000 E l i g i b l e paper 1.181.273 85.2R6 2 ^ . 5 # 101.011 100. mn 4q.Ej6q 62.905 241.790 EjQ.0q6 25.481 40.373 32,284 Total c o l l a t e r a l 2,396,680 173,117 501,340 192,340 259,330 98,394 170,642 444,314 73,685 74,066 94,050 53,797 IvLXTURITY DISTRIBUTION OF BILLS Aim CERTIFICATES OF IEDEBEEETSSS B i l l s discounted B i l l s bought in open market C e r t i f i c a t e s of indebtedness n 15 days „ % 794 l 6 to 30 days . , , % 31 to 60 days 6l to 90 days iSisil - ^ daya1 t o 6 months San Fran. 158,249 175,227 982 421 7,867 184,497 47,335 10,759 17,978 1,040 419,858 62.7 21,924 65,961 314,610 90,400 224,210 35,000 14,175 80,031 132.399 261,605 Over 6 months 2,753 3,g44 18,539
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