The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
k j | L ^ ' j Released f o r p u b l i c a t i o n Friday morning, March 22; not e a r l i e r . STATEMENT FOR THE PRESS S t . 6134 F e d e r a l Reserve Board, March 21, 1929. CONDITION OF FEDERAL RESERVE BMKS ; ' » I 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 March 20, 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 $12,900,000 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 $46,300,000 i n b i l l s bought in open market, and an i n c r e a s e of $20,100,000 i n U. S. Government s e c u r i t i e s . Member bank r e s e r v e d e p o s i t s d e c l i n e d $23,000,000, Government d e p o s i t s $3,200,000 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 $8,400,000, while c a s h r e s e r v e s i n c r e a s e d $17,^00,000. T o t a l b i l l s and s e c u r i t i e s were $50,100,000 below the amount h e l d on March 13. ^ I j ^ I ! !*, Holdings of d i s c o u n t e d b i l l s d e c r e a s e d $24,400,000 a t t h e F e d e r a l Reserve Bank of San F r a n c i s c o , $16,600,000 a t Mew York and $6,500,000 a t D a l l a s , and i n c r e a s e d $23,000,000 a t Chicago and $9,200,000 a t S t . L o u i s . The System's h o l d i n g s of b i l l s bought i n open market d e c l i n e d $4$,300,000, while h o l d i n g s of Treasury c e r t i f i c a t e s , which i n c l u d e d $19,000,000 of 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 t h e q u a r t e r l y i n s t a l l m e n t of t a x e s , show an i n c r e a s e of $19,700,000 and Treasury n o t e s an i n c r e a s e of $400,000. j ^ j j 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 was $8,400,000 l e s s t h a n a week ago, dec r e a s e s of $6,100,000 a t C l e v e l a n d , $2,800,000 a t P h i l a d e l p h i a , and $1,100,000 each a t Richmond and San F r a n c i s c o b e i n g p a r t l y o f f s e t by an i n c r e a s e of $2,300,000 a t Chicago and small i n c r e a s e s a t f o u r o t h e r F e d e r a l r e s e r v e b a n k s . 1 A suomary 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 the r e s e r v e b a n k s , t o g e t h e r with changes during the week and the y e a r ending March 20, 1929, follows: I n c r e a s e or d e c r e a s e s i n c e Mar-. 20. 1929 Mar. 13.1929 Mar. 21. 1928 ( I n thousands of d o l l a r s ) Total r e s e r v e s Gold r e s e r v e s 2,877,791 2,712,013 Total b i l l s and s e c u r i t i e s . . . . 1,371,771 B i l l s discounted, t o t a l . . . . Sec, 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 . . . . 9^2,737 588,439 354,298 B i l l s bought i n open market 236,838 . . 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 . 185,351 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 1,641,577 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 2,370,310 2,339,544 4,570 C. > • . . . 51,611 90,904 42,836 + + - - . - + - + + 17,402 11,888 50,062 12,886 5,304 18,190 46,263. 20,054 7 402 19,559 - 8,432 _ 26,475 - 23,023 3,203 — - + 68,O4O 63,758 176,304 + 465,759 + + 303,068 162,691 - 95,890 199,910 — _ - + + + - 5,719 80,863 113,328 76,153 10,606 10,293 . 17,307 Released f o r p u b l i c a t i o n F r i d a y morning, March 2j2, 1929; not e a r l i e r . St. 6l34a RESOURCES MD LIABILITIES OF THE T3LVS F3DZEL1L B.BS:5HVB BMSS COMB IKED ( i n thousands of d o l l a r s ) Liar. 20.1929 Mar. 13.1929 Mar.21.1928 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 . T r e a s u r y 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 Gold 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 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 Reserves o t h e r than g o l d . . 1,300.376 70,707 1,213,407 64,353 675,996 664,434 2,712,013 767,446 654,919 1,371,533 165,772 Total reserves Non-reserve c a s h 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 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 Foreign l o a n s on gold 2,877,791 72,367 Total b i l l s & s e c u r i t i e s . . . . Due from f o r e i g n banks Uncollected items Bank p r e m i s e s All other resources TOTAL RESOURCES 1,371,771 1,277,760 2,700,125 160,264 2,860,389 78,312 1,393,893 48,560 1 , 4 4 2 , 4 53 684,561 648,757 2,775,771 170,060 2,945,831 6S,O45 588,439 354,292 583,135 372,488 942,737 236,832 283,101 285,371 191,607 476,978 332,728 51,618 90,502 23,177 165,297 10,250 57,330 171,767 156,164 385,261 500 51,611 90,904 42,836 185,351 6,845 - 955,623 7,562 - 1,195,467 723 747,690 1,421,833 724 754,786 5.143,043 ' 5,182,990 4,954,607 58,691 8,010 58,691 8,255 569 676,209 59,264 9,222 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 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 . . . . 1,641,577 2,339,544 4,570 6,047 20,149 1,650,009 2,362,567 7,773 5,834 20,611 2,370,310 701,967 153,730 254,398 2,396,785 705,172 152,521 254,398 5.143,043 5,182,990 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 . . . 11.1% 10.1% Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents 329,194 21,061 21,105 306,944 1,565,424 2,322,237 14,863 4,502 18,102 2,359,704 646,319 136,642 233,319 13,199 4,954,607 75.1£ 243,975 RESOURCES Gold with Federal Reserve Agents RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON MARCH 20, 1929 ( i n thousands of d o l l a r s ) Total 1,300,876 Gold h e l d e x c l u s i v e l y a g a i n s t F. S. n o t e s 1 ,371,533 Gold s e t t l e m e n t f u n d w i t h F.R.Board 675,996 Gold and gold c e r t i f . h e l d by banks 664,434 T o tal gold r e s e r v e s 2,,712,013 165,778 Reserves o t h e r than g o l d Boston So,o4l 9,707 New York 291,683 12,635 95,74s 304,318 68,185 23,927 187,860 16,747 Total r e s e r v e s 2 ,877,791 204,607 Non-reserve cash 78,367 B i l l s discounted: Secured by U.S.Govt, o b l i g a t i o n s 588,439 34,504 Other b i l l s d i s c o u n t e d 354,298 14,886 Total b i l l s discounted 942,737 49,390 B i l l s bought i n open market 236,838 U. S. Government s e c u r i t i e s : Bonds Treasury n o t e s 2,534 90,904 42,836 2,114 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.Govt, s e c u r i t i e s 185,351 5,337 Other s e c u r i t i e s 6,845 6,617 30,692 51,611 689 T o tal 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 hanks U n c o l l e c t e d items Bank premises All o t h e r r e s o u r c e s TOTAL RESOURCES 1,371,771 723 7^7,690 58,691 8,010 85,4i9 54 252,10s 417,811 974,237 45,628 52,690 94,934 20,384 40,752 163,608 54,451 114,617 60,820 15,195 14,672 45,363 156,070 269,791 8,082 12,232 1,019,865 164,152 282,023 92,174 146,813 373,018 5,354 7,577 80,972 244,328 4,387 141,273 63,926 33,263 48,977 27,925 17,039 24,687 97,189 21,712 76,902 24,882 41,726 10,917 1,384 8,880 25,904 36,16s 2,095 585 9,779 7,747 18,111 - 290,218 137,012 218 70 6i,4qs 16,037 1,75? 823 126 5 , i 4 3 , o 4 3 372,923 1,554,969 54s 1,152 27,922 845 29,315 - 21,13s 4,900 6,509 43,819 903 301 2,356 - 156,210 80,963 11,327 37,307 48,634 237,173 21,148 11,685 25 3,372 264 19,937 5,136 1,561 3,661 26,634 - - 74 5,535 l,l66 33 56,016 2,575 505 28 28,630 2,744 1,831 15,710 71,751 99 96,553 g,527 96I 5,551 83,288 85,887 107,201 4,426 1,108 27,303 22,762 i4,214 50,565 8,372 17,535 33,730 7,125 11,426 512 19,063 - 131,099 54,999 63,980 284,955 71,476 29,056 167,365 34,278 10,684 74,018 6,954 2,518 66,863 208,136 Minn. Kans.Cy. D a l l a s San Fran. 49,566 52,451 26,734 162,873 2,930 3,522 2,322 4,492 214,366 24,621 52,496 56,003 25,241 40,561 90,237 5,128 14,329 7,678 54,783 10,282 101,692 83,975 136,967 359,386 56,041 9,846 13,632 8,199 2,599 5,509 30,138 72,450 ' 197,620 3,702 74 P h i l a . Cleve. R i c h . A t l a n t a Chicago S t . L o u i s 87,368 158,773 110,745 202,458 19,464 7,566 4,835 1,761 3,872 11,908 5,157 S t . 6134b 78,000 29 31,978 3.SS3 4lS 3,321 1,952 14,336 19,394 8,121 9,891 4,534 4,341 382 7,755 1,136 2,000 9,793 1,500 9,257 36,913 902 54,914 18 24 41,383 2,110 4,i4o 820 338 13,038 33,177 2S.146 228,688 15,640 2,881 6,212 52,618 3,253 19,674 9,465 72,292 15,678 29,921 7,813 3,239 1,215 12,267 37,410 24 32,491 1,922 502 64 12,470 855 13,389 1,250 116,352 52 44,557 3,704 446 367,12s 498,882 212,656 243,926 776,690 190,495 139,894 209,952 156,202 414,326 RESOURCES AND LIABILITIES "OF' THE"' INDERAL "RE SERVE BANKS Off MARCH 20, "1929 ( i n thousands of d o l l a r s ) To t a l Boston New York P h i l a . Cleve. Rich. A t l a n t a Chicago S t . L o u i s 1,641,577 130,096 298,540 137,231 201,544 71,722137,221 279,967 58,9a S t . ol>4c L I A B I L I T I E S Minn. Kans.Cy. D a l l a s San Fran. F . E. n o t e s i n a c t u a l c i r c u l a t i o n 63,574 66,941 38,623 157,197 Deposits: Member bank - r e s e r v e account 2,339,544 139,480 936,522 132,284 183,972 66,652 67,135 347,188 78,842 52,879 90,157 69,928 174,445 Government 4,570 204 812 420 194 2214 l4 1+11 lqq 683 194 431. 199 451 513 l64 285 Foreign "bank 6,0^7 433 1,970 562 228 269 801 597 234 i46 193 193 4a Other d e p o s i t s 20,1^9 65 7,397 746 58 166 87 2,048 854 213 206 27 8,282 Total deposits 2,370,310 140,182 945,761 133,324 185,998 67,202 67,743 349,274 81,323 53,689 91,069 70,312 183,433 D e f e r r e d a v a i l a b i l i t y items 701,967 71,658 178,607 56,381 68,235 53,937 26,587 87,421 32,483 11,474 37,864 33,528 43,792 Capital paid i n 153,730 10,309 54,550 14,970 14,725 6,227 5,326 19,406 5,507 3,098 4,298 4,442 10,872 Surplus 254,398 19,619 71,282 24,101 26,345 12,399 10,554 36,442 10,820 7,082 9,086 8,690 17,978 All other l i a b i l i t i e s 21,061 1,059 5,229 1,1a 2,035 1,169 1,495 4,180 l , 4 4 i 977 694 607 1,054 TOTAL LIABILITIES 5,143,o43 372,923 1,554,969 367,128 498,882 212,656 248,926 776,690 190,495 139,894 209,952 156,202 4i4,326 Beserve r a t i o ( p e r c e n t ) 71•7 75•7 81.9 60.7 72.8 66.3 71.6 60.1 51.2 73.2 67.8 & . $ 71. J 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 329,194 24,311 100,207 31,539 33,510 15,113 12,813 45,009 1 3 , i 4 I 8,213 10,842 10,842 23,654 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 ) 407,939 2 1 , 6 l 6 113,162 43,536 37,731 18,896 32,323 33,436 10,508 6,359 12,307 9,185 68,880 F . R . n o t e s r e c ' d f r o m 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 t o 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 . n o t e s i s s u e d t o F.R.Bank: Gold and g o l d c e r t i f i c a t e s Gold redemption f u n d Gold f u n d - F . R. Board E l i g i b l e paper Total c o l l a t e r a l 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 i n d e b t e d n e s s C FEDERAL RESERVE MOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 765,417 212,747 270,905 112,329 220,664 419,123 82,099 85,932 103,618 60,380 314,477 353,715 31,980 31,630 a,711 51,120 105,720 12.670 15,999 24,370 12,572 88.400 2,049,516 151,712 411,702 180,767 239,275 90,618 169,544 313,403 69,429 69,933 79,24s 47,808 226,077 2,873,578 225,887 824,062 74,175 363,195 35,300 97,222 17,741 $4o, ! 840,459 33,000 1,130,676 80,005 2,431,552 166,o46 171,880 50,000 6,690 27,350 8,050 14,167 14,803 10,791 13,773 7,000 2,895 1,458 2,4i4 2,399 4,121 105,000 76,577 95,000 39,000 80,500 201,000 9,000 33,000 48,360 228,636 102,155 ioo,645 48,944 59,463 257,263 58,774 25,363 43,316 520,319 189,523 259,418 101,634 170,208 459,721 78,238 74,929 95,797 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS 91 days to Total Within 15 days l 6 to 30 days 31 to 60 days 6 l to 90 days 6 months 942,737 776,069 42,865 73,860 39,763 7,443 236,838 124,186 54,169 36,423 19,123 2,937 42,836 19,275 11,028 39 14,758 35,000 5,976 13,851 6,000 114,022 24,973 101,139 51,707 264,012 Over 6 months 2,737 12,494
@FedFRASER