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STATEMENT FOE IKE PRESS S t . 6182 F e d e r a l Reserve Board May 9, 1929 Released f o r p u b l i c a t i o n , F r i d a y morning, May not e a r l i e r , CONDITION OF FEDERAL RESERVE BANKS 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 May 8, made p u b l i c by t h e F e d e r a l Reserve Board, shows d e c r e a s e s f o r t h e week of $23,800,000' 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 , $13,200,000 i n b i l l s bought i n open market and $1,200,000 i n 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 r e a s e d $5,800,000, Government d e p o s i t s $5,300,000 and o t h e r d e p o s i t s $10,100,000, while cash r e s e r v e s i n c r e a s e d $26,500,000 and 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 unchanged, Total b i l l s and s e c u r i t i e s wore $47,300,000 below the amount h o l d on May 1. 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 $29,300,000 a t the F e d e r a l Reserve Bank of Now York and $ 3 , 1 0 0 , 0 0 0 a t Boston, and d e c r e a s e d $17,600,000 a t P h i l a d e l p h i a , $15,400,000 a t Chicago, $11,200,000 a t San F r a n c i s c o , and $§,700,000 a t M i n n e a p o l i s . The S y s t e m ' s h o l d i n g s of b i l l s bought i n open market d e c r e a s e d $13,200,000 and of Treasury c e r t i f i c a t e s $1,300,000, while h o l d i n g s of U, S. bonds and Treasury n o t e s were p r a c t i c a l l y unchanged. A r e d u c t i o n of $7,300,000 i n 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 a t New York o f f s e t i n c r e a s e s of $2,200,000 a t Boston, $1,100,000 a t Cleveland, and an a g g r e g a t e i n c r e a s e of $4,000,000 a t t h e o t h e r n i n e F e d e r a l r e s e r v e banks. A summary of t h e p r i n c i p a l a s s e t s and l i a b i l i t i e s of t h e r e s e r v e banks, t o g e t h e r with changes d u r i n g the week and the y e a r ending May 8, 1929, f o l l o w s : I n c r e a s e or d e c r e a s e s i n c e May 8, 1929 May 1,1929 Hay 9.1928 ( I n thousands of d o l l a r s ) Total r e s e r v e s Gold r e s e r v e s T o t a l b i l l s and s e c u r i t i e s B i l l s discounted, t o t a l . Secured by U.S.Govt, o b l i g a t i o n s . . . . Other b i l l s d i s c o u n t e d 3,012,279 +26,517 +164,380 2,840,947 +28,917 +150,895 1,281,912 962,022 -47,333 -23,807 -22,182 -138,715 +184,881 + 18,30b 525,814 436,208 - 1,625 +166,575 B i l l s bought i n open market 157,181 -13,240 -207,923 U. S. Government s e c u r i t i e s , t o t a l . . . . Bonds . . . . Treasury n o t e s C e r t i f i c a t e s of i n d e b t e d n e s s 149,488 50,407 84,495 + + - 1,242 23 17 -127,904 - 1,282 - 17,482 -104,827 1,663,678 + 39 + 72,450 2,389,214 -2i,i44 - 5,784 - 5,257 - 84,922 - 96,151 + 7,535 Federal reserve notes in c i r c u l a t i o n Total d e p o s i t s Members' r e s e r v e d e p o s i t s Government d e p o s i t s . . . . W. . . . l4,586 2,330,033 28,635 - 5,595 Released f o r p u b l i c a t i o n F r i d a y morning, May 10,192$; not e a r l i e r . S t . blS2a H3SOURCES MD LIABILITIES OF THE TJ3LVE FEDERAL RESERVE BMTKS COMBINED ( I n thousands of d o l l a r s ) 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 f u n d 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 with 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 :,ola r e servos Reserves o t h e r than gold Total reserves ITon-re serve cash B i l l s discounted: Sec. "by tj. 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 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 . . . . 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 l o a n s on g o l d 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 U n c o l l e c t e d items . . . Bank premises All other resources . . TOTAL RESOURCES . . . . Hay g, 192Q May 1. 1929 May 9, 1923 1,309,905 62,060 1,371,965 678,05s 1,317,449 61,172 1,378,621 790,92*+ 2,840,9^7 2,812,030 171,332 173,732 1,163,937 64,544 1,228,421 815,081 645,490 2,690,052 157,847 3,012,279 2,985,762 2,847,899 78,317 7%,28? -64,6ig 525,814 436,208 437,833 547,996 507,508 259,533 985,829 170,421 777,141 365,104 50,334 84,478 56,002 101,977 119,^13 277,392 962,022 157,181 50,407 84,495 14,586 149,488 6,866 671,114 762,295 15,868 150,730 6,355 7,366 14,899 1,281,912 1,329,245 1,420,527 725 657,596 58,739 7,997 5,097,565 725 707,771 58,739 8,358 5,164,887 570 638,073 59,437 9,880 5,O4I,IO5 1,663,678 1,663,639 1,591.228 2,330,033 2,335,817 33,892 8,340 32,309 2,4IO,358 656,4b2 155,958 254,398 24,072 2,426,184 21,100 5,708 21,i44 2,474,136 5,164,887 5,o4i,i05 13.3% 70.156 349,257 265,137 990 - I N 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 T o tal d e p o s i t s . . . . . . 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 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. 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. 28,635 7,238 23,308 2,389,214 608,834 156,179 254,398 25,262 5,097,565 74.3 355,195 . 587,401 138,055 233,319 16,966 RESOURCES AZD LIABILITIES OP THE FEDERAL RESERVE BANKS ON MAY 8, 1929 ( i n thousands of d o l l a r s ) S t . 6lS2b RESOURCES T o t a l Boston It cm York C-old with F e d e r a l Reserve Agents 1 , 3 0 9 , 9 0 5 71,736 281,127 Gold redemption f u n d with U . S . T r e a s . 62,o6o 5,418 11,154 G °^ d R ^ n o t e s ^ ^ ^ ^ 1,371,965 77,154 G o l d - s e t t l e m e n t f u n d vzlth F.R.Board 678,058 Gold and g o l d c e r t i f . h e l d by banks 790,924 Total gold reserves Reserves o t h e r than gold Total reserves lion--reserve cash B i l l s discounted; 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 Total b i l l s 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. Govt, 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 „ o l d T o t a l b i l l s and s e c u r i t i e s Du- 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 61,248 27,262 2,84o,947 165,664 ± fx J JJ<- J--T, P l i i l a . Clove. 98,589 154,684 b,4l7 6,286 292,281 105,3o6 i6o,970 42,841 86,349 272,670 30,843 56,878 46,283- 24,426 175,964 138,333 488,332 60,291 26,651 66,094 51,857 918,946 192,243 278,921 J 971,049 200,212 291M5 32,740 2,309 3,159 525,814 44,863 436,208 42,087 962,022 86,950 157,181 29,876 173,331 103,558 276,889 44,oo4 50,407 84,495 14,586 689 1,795 1,396 155 11,734 4,66o 149,4-88 3,880 16,549 - 5o4 1 , 2 8 1 , 9 1 2 121,210 725 657,596 58,739 7,997 54 65,887 3,702 59 14,750 16,387 16,900 1^5,422 7,323 113,159 34,942 10,548 26,870 5,703 42,286 5,398 «?7,104 10,908 73,978 110,572 531,251 76,333 89,451 93,967 62,438 247,17s v ,012,279 179,917 78,317 6,874 6,866 6,355 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. 38,740 82,050 2 6 7 , 0 % 23,481 54,122 43,117 22,395 172,520 4,101 4,299 5,626 7,362 2J56 3.1&6 2,031 3,444 4q,4oo 34,855 84,255 12,067 8 v 1V ^ ^ 7 - 82,053 118,908 557,735 87,878 91,854 99,371 69,379 262,45s 5,242 6,156 7,948 4,024 1,159 1,805 3,003 3,898 58,125 21,048 17,485 59,552 22,166 9,464 15,O4i 33,383 33,408 57,045 35,766 22,486 7,157 29,459 91,508 54745r 7^,530 95,318 44,652 16,621 44,500 12,655 5,509 7,99$ 8,449 1,191 3,755 5,542 26,100 i4,33S 8,586 11,704 254 1,500 210 11,259 871 2,000 170 7,756 85,922 130,738 6o,435 31,132 59,508 45,750 97,919 28 22,241 2,744 29 29,790 3,929 IS 12,894 2,110 24 38,099 4,l40 24 25,096 1,922 52 39,024 3,704 27,665 1,809 3,i49 695 292 340,639 114,070 132,523 62,066 220 180,4s6 l6 ; CS7 33 47,772 3,575 1,306 4oi 654 70 53,080 lj6'2 192 - 74 60,589 6,535 1,309 505 64 7,813 ll,64o 3,4li 35 7,756 l,4oo 965 2,232 43,960 25,876 69,836 , 15,629 4,56s 3,966 52 15 3,123 11 16,693 11,379 11,128 22,507 10,509 7,125 7,213 1,152 657 54s 585 9,081 27,112 7,027 5 43,818 27J96_ 24s 1,964 - 99 82,638 8,529 54O 361 521 335 1,250 225 4o4 750 501 5,097,565 377,703 1,542,527 371,695 495,654 201,246 237,963 788,227 186,446 139,688 203,282 145,57s 407,556 K L L I A B I L I T I E S RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS QNT MAT 8, 1929' S t . 6182c ( i n thousands of d o l l a r s ) T o t a l Boston New York Phi l a . Cleve. Rich. A t l a n t a Chicago St.Louis Minn. Kans.Cy. D a l l a s San Fran. 1,663,678 132,026 288,490 l4i,589 206,675 68,035 132,693 306,035 57,725 64,351 66,593 38,154 155,312 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 2,330,033 142,521 940,309 Government 28,635 152 7,328 Foreign "bank 7,238 502 2,511 Other d e p o s i t s 23,308 60 9,655 Total deposits 2,389,214 143,235 959,803 D e f e r r e d a v a i l a b i l i t y items 608,834 65,003 160,276 Capital paid in 156,179 10,390 55,969 Surplus 254,398 19,619 71,282 All other l i a b i l i t i e s 25,262 1,430 6,707 TOTAL LIABILITIES 5,097,565 377,703 1,542,527 Reserve r a t i o (r>er c e n t ) 74.3 64.o 77.8 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 355,195 25,883 iii,4O5 F . R . n o t e s on hand ( n o t e s r e c ' d from F . E . a g e n t l e s s n o t e s i n c i r c u l a t i o n ) 4 l 7 , 2 0 6 24,532 136,865 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.notes i s s u e d to F.R.Bank Collateral held as security for J \ E . n o t e s i s s u e d to 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 64,951 339,276 77,124 51,600 86,710 65,706 1,733 6,037 1,210 917 1,595 1,792 264 929 271 170 224 224 113 589 2,336 224 230 32 67,061 346,831 80,941 5 2 , 9 H 88,759 67,754 20,413 75,088 30,027 11,269 33,631 25,828 5,332 19,483 3,042 4,278 4,46o 5,427 10,554 36,442 10,820 7,082 9,086 8,690 1,910 4,348 1,506 1,033 . 692 935 237,963 788,227 186,446 139,688 203,282 145,578 59.5 85.4 63.4 78.3 64.0 65.5 173,099 910 488 8,986 183,483 38,308 11,244 17,978 1,231 407,556 77.5 33,578 35,677 16,089 13,641 47,919 13,991 8,744 11,542 11,542 25,184 37,300 35,532 18,432 29,457 32,885 10,201 8,693 io,46l 9,036 63,812 FEDERAL RESERVE NOTE ACCOUNT OF FEDERAL RESERVE AGENTS 2,933,480 240,183 852,596 77,625 2,080,884 162,558 378,295 35,300 :92,059 13,436 339,551 23,000 1,076,961 116,749 2,386,866 188,485 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 Municipal w a r r a n t s C. 136,775 184,719 67,243 3,475 1,633 1,853 651 692 312 193 797_ 93 I 4 I , 0 9 4 187,S4I 69,501 48,035 57,218 43,738 15,289 15,089 6,176 24,101 26,345 12,399 1,587 2,486 1,397 371,695 495,654 201,246 70.8 73.9 59.7 962,022 157,181 14,586 4oi 747,040 208,789 279,557 127,978 229,369 427,320 85,456 98,568 110,654 61,042 317,524 29,900 37,350 41,511 67,219 88,4oo 17,530 25,524 33,600 13,852 98,400 425,355 178,889 242,207 86,467 162,150 338,920 67,926 73,044 77,054 47,190 219,124 321,685 171,880 30,000 47,200 6,690 15,250 8,050 5,050 7,800 1,044 2,431 95,000 56,057 95,000 27,000 59,000 266,000 13,000 299,027 84,520 103,373 55,500 82,101 103,503 45,168 580,154 183,409 258,057 94,24O 164,151 370,547 68,649 14,247 12,832 12,484 14,167 14,758 35,000 2,955 3,757 3,637 12,386 37,000 39,360 4,ooo 125,134 20,275 49,595 32,877 84,273 74,397 92,712 55,272 256,793 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS? AND MUNICIPAL WARRANTS Within 15 days l 6 t o 30 days 31 to 60 days 6 l t o 90 days 91 days to Over 6 months 6 months 787,922 43,286 72,492 2,742 37,587 " 17,993 80,073 35,597 28,793 2,816 9,902 4 4,759 205 1,781 7,837 101 300
@FedFRASER