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STATEMENT FOR THE PRESS Released f o r p u b l i c a t i o n F r i d a y morning, Mar. 21; not e a r l i e r . - st. 652s F e d e r a l Reserve Board March 20, 1930. CONDITION OF FEDERAL RESERVE BAMS 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 t h e F e d e r a l r e s e r v e "banks on March 19, made p u b l i c "by the 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 $60,700,000 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 $71,500,000 i n b i l l s bought i n open m a r k e t , and an i n c r e a s e of $47,300,000 i n U. S. Government s e c u r i t i e s of which $29,000,000 r e p r e s e n t s temporary c e r t i f i c a t e s i s s u e d by the Treasury to the Hew York bank pending t h e c o l l e c t i o n of the q u a r t e r l y t a x payments. Member bank r e s e r v e d e p o s i t s d e c r e a s e d $63,^00,000, 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 $25,300,000. T o t a l b i l l s and s e c u r i t i e s were $88,200,000 b e low the amount-- r e p o r t e d a week ago. A l l F e d e r a l r e s e r v e banks e x c e p t Minneapolis r e p o r t r e d u c t i o n s 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 , the p r i n c i p a l d e c l i n e s b e i n g $ l 4 , 2 0 0 , 0 0 0 a t Chicago, $9,100,000 each a t C l e v e l a n d and San F r a n c i s c o , $6,600,000 a t A t l a n t a and $5,900,000 a t P h i l a d e l p h i a . The System's h o l d i n g s of b i l l s bought i n open mark e t d e c l i n e d $71>500,000, of U. S. bonds $10,100,000 and of Treasury n o t e s $2,700,000, w h i l e h o l d i n g s of c e r t i f i c a t e s and b i l l s i n c r e a s e d $60,200,000. 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 d e c l i n e d $8,100,000 a t t h e F e d e r a l Reserve Bank of Chicago, $6,100,000 a t Cleveland, $5,700,000 a t New York, $2,600,000 a t San F r a n c i s c o and $25,300,000 a t a l l F e d e r a l r e s e r v e b a n k s . 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 d u r i n g the week and t h e y e a r ending March 19, 1930, follows: I n c r e a s e or d e c r e a s e s i n c e Mar. 19,1930 Mar. 12,1930 Mar. 20,1929 ( I n thousands of d o l l a r s ) 3,221,095 3,036,037 Total reserves Gold r e s e r v e s 960,870 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 205,634 82,970 122,664 B i l l s bought i n open market . . . 185,017 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 and b i l l s 561,439 56,252 211,763 293,424 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 1,583,701 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 2,319,498 2,290,540 3.008 C . . . . - 1,767 3,122 - 88,199 - - 60,704 37,868 22,836 - 71,521 * — + - + 47,326 10,087 2,741 60,154 - 25,305 - 61,943 63,362 1,837 4- + + 343,304 324,024 - 410,901 -* - 4+ + + - — - 737,103 505,469 231,634 51,821 376,088 4,64i 120,859 250,588 57,876 50,812 49,004 1,562 Released f o r p u b l i c a t i o n F r i d a y morning, Mar. 21,1930; not e a r l i e r . S t . 6528a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BMKS COMBINED ( i n thousands of d o l l a r s ) Mar. 19.1930 Mar. 12.1930 Mar.20,1929 R E S O U R C E S Gold w i t h 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 w i t h 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 . n o t e s Gold s e t t l e m e n t f u n d w i t h 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 . . T o t a l gold r e s e r v e s 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 d i s c o u n t e d . 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 C e r t i f i c a t e s and " b i l l s T o t a l TJ. S. Government s e c u r i t i e s . Other s e c u r i t i e s T o t a l " b i l l s and s e c u r i t i e s . . . Uncollected items All other resources TOTAL RESOURCES 1,633,659 53,266 1,736,925 615,496 6g3,6l6 3,036,037 185,058 3,221,095 71,600 1,656,159 53,766 1,709,925 638,670 690,564 3,039,15$ 183,703 3,222,862 71,724 1,300,876 70,707 1,371,583 675,996 664,434 2,712,013 165,778 2,877,791 78,367 82,970 122,664 205,634 185,017 120,838 145,500 266,338 256,538 588,439 354,298 942,737 236,838 56,252 211,763 293,424 561,439 8,780 960,870 723 705,903 58,480 11,916 5,030,587 66,339 2i4,5o4 233,270 514,113 12,080 1,049,069 722 639,502 58,453 15,458 5,057,790 51,611 90,904 42,836 185,351 6,845 1,371,771 723 747,690 58,691 8,010 5,143,043 1,583,701 1,609,006 i,64i,577 2,290,540 3,008 6,503 19,447 2,319,498 660,145 172,245 276,936 18,062 5,030,587 2,353,902 1,171 6,696 19,672 2,38i,44i 599,918 172,212 276,936 18,277 5,057,790 2,339,5^4 4,570 6,047 20,149 2,370,310 701,967 153,730 254,398 21,061 5,143,043 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 Deferred a v a i l a b i l i t y items All o t h e r 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 82.5 io 80.8$ 71.7% Contingent l i a b i l i t y on b i l l s p u r c h a s e d for foreign correspondents 503,362 505,599 329,19% C RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BMKS OB MARCH 19, 1930 S t . 6528c ( i n thousands of d o l l a r s ) T o t a l Boston New York P h i l a . Cleve. Rich. A t l a n t a Chicago St.Louis Minn. ICans.Cy. Dallas San Fran. Gold w i t h F e d e r a l Reserve Agents 1,683,659 184,917 258,594 130,000 165,550 70,211 127,070 319,564 73,345 55,845 80,000 33,800 184,763 Gold redemption f u n d w i t h U . S . T r e a s u r y 53,266 1,553 15,590 3,214 4,103 2,000 2,269 11,011 2,008 1,954 1 , 7 1 4 1,450 6,4op E E S! 0 U R C E S 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 " G o l d , s e t t l e m e n t f u n d w i t h F.R.Board Gold and gold c e r t i f . h e l d "by banks Total gold reserves R e s e r v e s o t h e r than gold Total reserves l<i o n - r e s e r v e cash B i l l s discounted: gdcured 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 Total b i l l s discounted B i l l s "bought i n open market U« 5. 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 and b i l l s T o t a l U.S.Govt, s e c u r i t i e s 0tiler s e c u r i t i e s T o t a l b i l l s and s e c u r i t i e s Que from f o r e i g n banks Uncollected items Bank p r e m i s e s Xll o t h e r r e s o u r c e s TOTAL RESOURCES 1,736,925 186,470 615,496 34,789 683,616 29,871 75,353 57,799 81.,714 35,250 191,163 181,938 43,714 82,107 20,536 11,919 90,073 32,828 15,254 , 42,13'S 21,566 38,629 417,535 30,706 43,315 7,749 5,934 95. ^7 6,94I 5,19% 8,378 8>582 24,oo4 274,184 133,214 169,653 *72,211 129,339 330,575 3,036,037 251; 130 873,657 207,634 295,075 100,496 147,192 516,060 115,122 185,058 19,239 51,634 17,205 13,319 8,508 15,544 18,066 11,399 3,221,095 270,369 925,291 224,839 308,394 109,004 162,736 534,126 126,521 71,600 9,599 14,086 4,236 5,275 4,853 4,4o7 9,058 5,%io 82,970 122,664 8,642 9,723 205,634 18,365 185,017 5,750 17,422 15,049 13,222 3,099 1,328 13,388 17,443 12,o4i 11,608 16,437 30,810 32,492 25,263 14,707 17,765 7,431 9,4o4 25,828 12,007 15,154 56,252 2,574 6,808 2,566 1,743 211,763 9,6i4 97,700 17,484 18,034 293,424 18,681 148,466 26,657 15,639 561,439 30,869 252,974 46,707 3 5 , 4 l o 8,780 1,000 6,750 1,000 960,870 55,984 297,965 89,603 86,507 723 53 239 70 72 705,903 66,54o 199,533 58,015 62,724 58,480 3,580 15,664 1,762 7,05s 11,916 68 2,687 135 1,092 5,030,557 4o6,193 1,4-55,465 378,660 471,122 1,881 3,713 7,228 12,822 39,536 30 49,091 3,2©4 686 206,4o4 10,035 l4,l44 78,247 132,230 65.,398 253,796 4,291 8,596 6,512 10,745 82,538 l4p,826 71,910 264,54i 1,9^8 2,43.9 4,603 5,706 6,369 5,972 778 3,167 380 3,479 1,872 9,795 5,114 5,127 24,179 12,341 2,252 1 3 , 2 7 4 5,892 8,294 26,328 13,656 12,925 11,760 10,747 34,027 447 23,l4o 1,165 5,387 370 8,47s 1,693 4,51s 16,907 11,511 6,572 1,886 5,562 18,262 3,s6i 32,472 6,590 6,787 3,667 0,595 16 ,.781 8,826 72,519 19,266 18,746 5 , 9 2 3 20,635 3 6 , 7 3 6 30 4i,745 123,026 45,293 33,923 30,957 37,274 79.057 26 97 26 16 22 22 50 24,851 92,667 32,433 13,176 39,9^3 28,162 38,768 2,658 8,295 3,811 2,018 3,972 1,876 4,582 3,969 795 323 550 257 91s 436 24o,392 76s,o64 213,817 134,169 218,396 144,765 393,i4o L I A B I L I T I E S RESOURCES AHD LIABILITIES OF THE FEDER.IL'RESERVE BAKES OH MARCH 19, 1930 S t . 6528c (In thousands of d o l l a r s ) To t a l Boston Hew York P h i l a . Cleve. Rich. A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. D a l l a s San Fran. 1,583,701 160,96s 195,550 142,501 175,264 74,360 130,634 290,632 81,380 59,663 79,286 36,706 155,707 F.R.notes in actual c i r c u l a t i o n Deposits; Member bank - r e s e r v e account 2,290,540 144,903 917,944 137,065 187,323 64,277 64,519 330,963 80,073 51,889 87,891 62,442 161,251 Government, 3,008 325 394 4oo 354 375 483 so 87 344 117 4 45 Foreign bank 6,503 491 2,o49 644 664 279 239 889 239 153 I9y 19 199 458 0ther^ieposi ts 19,447 98 8,i4o 474 1,572 626 266 159 139 203 209 39 7,522 • Total deposits 2,319,498 145,817 928,527 138,583 189,913 65,090 65,380 332,558 80,665 52,589 88,4i6 62,684 169,276 Deferred a v a i l a b i l i t y items 660,145 65,74o 177,504 53,295 59,313 4j,433 25,958 81,687 34,074 10,792 36,755 31,125 36,469 Capi t a l paid, i n 172,245 11,668 67,647 16,639 15,960 6,016 5,466 20,267 5,315 3,080 4,335 4,437 11,415 Surplus 276,936 21,751 80,001 26,965 2 9 , l 4 l 12,496 10,857 1(0,094 10,877 7,143 9,162 8,935 19,514 All other l i a b i l i t i e s 18,062 249 5,236 _67I 1,531 1,009 2,826 1,506 ~p —= —— *^ - — — ; — ^ ^ 2,047 • I —> i J\J<' O FQ F yy — 902 442 878 759 TOTAL LIABILITIES 5,030,58 7 406,193 1,455,465 378,660 471,122 206,4o4 24o,392 768,064 213,317 134,169 21s,396 i44^765 393,i4o Reserve r a t i o ( p e r c e n t ) 82,5 88.1 82.2 30.0 84.5 78.2 83.0 85.7 78.1 73-5 84.0 72,4 SI.4 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 c o r r e s p o n d e n t s 503,362 37,24s 165,612 48,825 50,335 21,l4l 18,121 67,449 18,121 11,577 15,101 15,101..-34,731 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 ) 362,958 46,669 5,514 10,635 11,301 53,636 71,620 21,49s 37,515 16,338 27,626 1*4,263 16,343 FEDERAL RBS3RT3 HOTS ACCOUNTS OF FEDERAL RESERVE AGMTS F . I t , n o t e s r e c ' d from Comptroller 3,230,561 322,937 723,57° 207,499 290,759 127,138 251,275 552,205 114,323 105,327 131,191 93>594 310,743 F . R . n o t e s h e l d by F. R. Agent 1,283,902 115,300 45.;,4oo 43,500 77,980 36,#0 92,965 217,310 16,600 4o,15q 41,270 45,587 101,4oo F . R . n o t e s i s s u e d to F.R.Bank 1,946,659 207,637 268,170 163,999 212,779 90,69s 158,310 334,895 97,723 65,177 89,921 48,007 209,343 C o l l a t e r a l held as security 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 401,539 35,300 229,963 39,900 15,550 5,211 5,220 9,245 11,845 14,300 35,000 Gold f u n d - F. R. Board 1,282,120 149,617 28,626 90,100 150,000 65,000 121,850 319,564 6 4 , i o o 44,000 80,000 19,500 149,763 E l i g i b l e paper 381,856 24,038 35,981 4o,49g 50,63s 26,456 31,875 50,312 25,201 14,744 24,432 15,966 41,665 T o tal c o l l a t e r a l 2,065,515 208,955 294,575 170,498 216,183 96,667 153,945 369,876" 98,546 70,589 104,432 49,766 226,428 MATURITY DISTRIBUTION OF BILLS MB SHORT ERM SECURITIES Total B i l l s discounted S i l l s bought i n open market C e r t i f i c a t e s and b i l l s Municipal w a r r a n t s C 205,634 185,017 293,424 30 Within 15 days 128,042 79,605 29,000 l o to 30 days 19,040 36,401 31 to 60 days 30,205 45,272 38,000 30 o l to 90 days 17,080 22,069 72,530 91 days to 6 months Over 6 months 7,350 3,917 112,038 41,856 1,070
@FedFRASER