The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Released f o r p u b l i c a t i o n F r i d a y morning, March g; not e a r l i e r . STATEMENT TOR EuD PRESS St. 6ll6 F e d e r a l Reserve Board, March 7. 1929 CONDITION <F FEDERAL RESERVE BAMS The c o n s o l i d a t e d statement 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 6, made p u b l i c "by the F e d e r a l Reserve Board, shows an incrffease f o r the week of $36,700,000 i n h o l d i n g s of discounted "bills and d e c r e a s e s of $29,400,000 in "bills bought in open market and of $3,400,000 in United S t a t e s 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 $16,800,000 and cash r e s e r v e s $8,600,000, while 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 i n c r e a s e d $12,600,000. To till b i l l s and s e c u r i t i e s were $4,000,000 above the amount h e l d on February 27] Holdings of d i s c o u n t e d b i l l s i n c r e a s e d $48,200,000 a t the F e d e r a l Reserve Bank of New York, $3,$00,000 a t Chicago, $3,100,000 a t Kansas C i t y and $2,900,000 each a t A t l a n t a , St* Louis and San F r a n c i s c o , and decreased $15,700,000 a t Cleveland, $6,000,000 a t Boston and $3,100,000 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 b o u ^ i t i n open market d e c l i n e d $29,400,000 and of Treasury c e r t i f i c a t e s $3,400,000, while h o l d i n g s of United S t a t e s bonds and Treasury n o t e s were p r a c t i c a l l y unchanged* 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 was $12,600,000 l a r g e r than a week ago, i n c r e a s e s of $7,600,000 a t A t l a n t a , $3,100,000 a t Boston, $3,000,000 a t San F r a n c i s c o and $2,800,000 a t Chicago being p a r t l y o f f s e t by d e c r e a s e s of $3,900,000 a t C l e v e l a n d and $3,000,000 a t P h i l a d e l p h i a . 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, t o g e t h e r with changes d u r i n g the week and the year ending March 6, 1929, f o l l o w s ; I n c r e a s e or decrease since Mar. 6, 1929 Feb.27, 192Q Mar. 7.1928 ( 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 . . 2,835,592 2,682,837 - 8,572 - 4,009 -l4o,o68 -129,321 Total b i l l s and s e c u r i t i e s 1,467,030 + 3,998 +242,715 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 939,172 +36,690 333,119 - 2,699 +39,389 +50?.06* +316,269 +190,795 B i l l s bought i n open market 304,644 -29,431 - 33,851 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 . . 162,964 51,594 - 3,436 + l 20,699 - 3,370 -239,748 - ,5. 4 53 -114,962 -119,333 F e d e r a l r e s e r v e n o t e s in c i r c u l a t i o n 1,666,567 +12,596 + 75,197 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 . . . 2,402,544 2,350,497 21,577 -10,428 -16,753 + 421 - 8,194 - 10,967 - 3,460 w. 606,053 90,671 - 67 Released f o r p u b l i c a t i o n F r i d a y morning, March 8, 1929; not e a r l i e r . St.6ll6a RESOURCES A5SD LIABILITIES OF THE TWELVE FEDI3AL RESUME BiJSCS COLIBIIJED" ( I n thousands of d o l l a r s ) liar.6.1929 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 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 . 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 . . Total gold r e s e r v e s lion-re serve 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 b i l l s d i s c o u n t e d . . . . . . 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 . , . . . . . 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 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 other r e s o u r c e s . TOTAL RESOURCES 1,345,440 2,682,837 2,686,846 152,755 157,31S 163,442 2,835,592 2,844,164 75,231 78,118 2,975,660 70,084 1,235,466 Z9§,13? • ra Total r e s e r v e s 1,167,630 67,836 Mar. 7.1928 49.778 1,395,218 7,67,300 654.700 2,812,218 . . Reserves o t h e r than gold B i l l s bought i n open market 1,183,910 62.119 1,246,029 Feb. 27.1929 608,752 289,784 3^3,730 952,482 482,108 334,075 338,495 51,594 90,671 20,699 51,593 90,738 24,069 205,633 162,964 166,4oo 402,712 10,250 1,000 1,467,030 10,075 1,463,032 1,224,315 725 678,483 58,660 729 713,637 58,660 569 609,762 59,078 606,053 333,119 989,172 304,644 8,062 8,246 192,324 57,047 140,032 11,548 5,123,783 5,166,586 4,951,016 1,666,567 1,653,971 1,591,370 2,350,497 21,577 9,766 20.704 2,367,250 21,156 5,606 12,960 2,361,464 25,037 2,402,544 2,412,972 2,410,738 628,729 152,118 254,39s 566,760 136,605 19,427 675,013 151,266 254,39s is,966 5,123,733 5,166,586 4,951,016 L I A B I L I T I E S F. R. n o t e s 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 . , . 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 p a i d i n Surplus All o t h e r l i a b i l i t i e s . . . . TOTAL LIABILITIES 6,116 18,121 233,319 12,224 R a t i o of t o t a l r e s e r v e s to d e p o s i t and F. R. note l i a b i l i t i e s combined . , , 69.7$ 69.9# 74.4# Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents . . . . . 303,397 306,461 238,553 RESOURCES RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BAMS ON MARCH 6, 1929 ( l n thousands of d o l l a r s ) Total Boston Gold with F e d e r a l Reserve Agents 1,183,91.0 69,619 gold redemption f u n d with U . S . T r e a s . 62,119 7,630 Sold 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 1,246,029 77,249 788,107 79,209 648,701 Total gold r e s e r v e s Reserves o t h e r than g o l d T o tal r e s e r v e s Non-reserve cash B i l l s diecouhted: Secured Tsf* U.S.Govt, o b l i g a t i o n s Other "bills d i s c o u n t e d 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 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 24,316 2,682,837 180,774 152,755 16,747 2,835.592 197,521 6,790 75,231 606,053 38,271 383,119 20,213 989,172 304,644 58,484 36,073 90,671 51,594 689 2,630 20,699 New York 241,891 11,197 P h i l a . Cleve. 84,437 157,346 5,742 5,223 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. 50,479 102,636 202,598 23,957 46,585 54,489 22,096 127,777 2,713 4,091 9,427 4,085 2,447 2,297 2,478 253,088 90,179 162,569 53,192 106,727 212,025 262,886 37,144 407,880 38,313 81,750 45,071 21,191 14,107 56,786 19,614 116,813 29,874 29,524 42,963 5,227 5,199 6,759 52,575 10,616 24,574 132,566 25,305 10,536 41,834 28,102 60,351 38,915 20,837 19,615 120,243 20,602 12,569 17,206 12,799 60,55s 86,523 31,066 23,219 20,411 35,755 89,4o6 20,184 2,027 15,231 6,907 32,177 270,610 91,417 62,134 41,248 55,370 209,649 4o,786 i4,596 32,437 19,706 92,735 65,685 22,128 29,178 13,695 13,932 33,639 9,045 11,451 10,025 16,950 42,843 184,087 1,772 548 28,023 990 1,152 903 162,964 10,250 5,091 - - 13,638 - 18,516 - 29,561 2,356 Total b i l l s and s e c u r i t i e s 1,467,030 Due f r o a f o r e i g n banks 725 U n c o l l e c t e d items 678,483 Bank premises 58,660 All other resources 8,062 99,648 54 67,234 3,702 74 49,032 88,490 133,100 381,413 68,532 83,783 104,948 6o,4i5 202,502 8,092 8,492 15,592 15,745 2,963 6,243 7,067 14,750 964,189 172,677 299,078 96,582 l4i,592 397,005 84,277 86,746 111,191 67,482 217,252 30,112 2,491 4,809 4,583 1,913 3,470 7,725 3,857 1,020 2,93% 5,527 585 9,870 8,06l TOTAL RESOURCES 28,042 923,854 165,636 289,390 9,688 40,335 7 , o 4 i 1,384 9,087 3,167 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 S t . 6116Td 3^9.933 132,661 120,873 220 JO jk 174,858 56,631 61,506 16,087 1,752 6,535 676 316 1,245 301 7.813 64 438 902 1,106 9,342 2,000 9,763 lr500 10,738 6,000 13,670 750 19,937 7,125 304 5,418 11,253 2,241 4,335 585 3,730 27,596 18,963 57,299 33 46,828 3,575 515 7.755 23 3,403 - K 519 2,219 12,578 706 1,028 73,032 270,884 68,794 37,389 53,725 53.394 149,998 28 24,660 2,744 1,670 99 87,921 8,527 897 29 18 5O8 783 29,853 13,008 3,862 2,110 24 44,173 4,l4o 387 24 33,322 1,922 557 52 38,489 3,704 434 L I A B I L I T I E S RESOURCES AND LIABILITIES OF THE FE.UERAL RESERVE BANKS OH MARCH 6, 1929 (in thousands of d o l l a r s ) Total F. R. notos in actual c i r c u l a t i o n 1,666,567 130,520 308,107 138,017 204,51s 74,118 132,155 281,345 60,303 Deposits: Member "bank - reserve account Government Foreign "bank Other deposits Minn, Kans.Cy. Dallas San Fran. 63,506 67,446 39,124 161,408 2,350,497 147,658 246 21,577 9,766 433 20,704 95 922,237 135,417 188,035 4,512 5,689 1,139 562 54,119 2,402,544 148,432 628,729 65,181 152,118 10,343 254,395 19,619 19,427 928 939,790 157,829 54,160 71,282 4,907 5,123,783 375,023 1,536,075 137,182 50,813 14,942 24,101 -943 365,998 62.7 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 Reserve r a t i o (per cent) Contingent l i a b i l i t y on "bills purchased f o r f o r e i g n correspondents F.E.notes og hand (notes r e e ' d from F.R.Agent l e s s notes in c i r c u l a t i o n ) F.R.notes ree'd from Comptroller F.E.notes held by F. R. Agent F.R.notes issued to F.R,Bank C o l l a t e r a l h e l d as s e c u r i t y f o r F.R.notes issu ed 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 T.6tal c o l l a t e r a l Boston Hew York 7,352 Phila. 64 Cleve. Rich. Atlanta Chicago St.Louis St. 6116c 70,728 67,257 3^8,576 79,903 1,584 2,246 1,809 1,018 269 228 801 234 968 122 93 999 2,274 190,166 72,703 69,824 352,185 83,429 56,533 43,794 21,946 80,886 29,805 14,682 6,224 5,232 18,435 5,493 26,345 12,399 10,554 36,442 10,820 1,876 1,121 1,435 3,765 1,330 494,120 210,359 247,196 773,05s 191,180 75.8 6 5.8 68.1 62.7 58.6 566 597 69.7 70. S 303,397 22,533 91,161 29,232 31,059 14,007 11,576 41,716 12,180 4-00,635 21,971 114,023 42,419 38,431 16,988 32,390 31,689 10,209 77.3 2,067,202 152,491 362,645 35,300 87,479 11,319 733,786 23,000 94,481 2,44o,S85 i64,ioo l46 368 55,342 11,121 3,081 7,082 942 141,074 73.0 94,179 915 193 461 171,880 15,011 50,000 9,860 12,346 6,690 27,350 7,500 4,739 5,786 1,59s 2,457 55,ooo 74,577 95,ooo 39,000 69,500 201,000 i 4 , o o o 321,171 101,234 89,788 50,505 68,551 243,009 49,533 563,062 185,671 2 4 7 , 1 3 4 100,934 171,187 445,607 73,490 71,740 170,648 1,482 5,351 421 % 7,867 95,748 73,456 184,^7 38,324 33,329 39,168 4,293 4,442 10,741 9,086 8,690 17,978 656 594 930 215,553 159,635 4I4,512 68.1 62.8 59.9 7,613 10,048 7,446 9,460 EEDER'L RESERVE MOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 767,005 216,816 271,579 111,557 223,075 422,054 83,542 83,191 105,626 344.875 36.180 28.630 20,451 52.F30 109,020 13.010 12.239 28.720 422,130 180,436 242,949 91,10b 170,545 313,034 70,512 70,952 76,906 2,890,834 226,466 823,632 7 3 , 9 7 5 1,256,975 709 10,048 21,924 9,236 66,373 61,742 318,181 13,382 90.400 48,360 227,761 14,167 « 14,75s 35,000 4,129 4 , 3 3 s 14,4-28 31,060 50,360 3,000 78,349 25,691 42,011 36,550 134,451 72,276 96,500 58,646 262,228 i,4i8 MATURITY DISTRIBUTION OE BILLS MB CERTIFICATES OF INDEBTEDNESS Total 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 i n d e b t e d n e s s 989,172 304,644 20,699 Within 15 days l6 to 30 days 31 to 60 days 6 l to 90 days 81^,385 43,094 81,997 61,864 70,834 47,483 145,352 1,705 - 11,504 9'1 days to 6 months 6,580 3,927 684 Over 6 months 2,796 18,310
@FedFRASER