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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, May 17; not e a r l i e r . giqn F e d e r a l Reserve Board May 16, 1929 s t - 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 the F e d e r a l r e s e r v e banks on liay 15» made p u b l i c by the Federal Reserve Board, shows d e c r e a s e s f o r the week of $47,400,000 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 $11,100,000 i n b i l l s bought i n open market and an i n c r e a s e of $6,300,000 i n h o l d i n g s of 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 $10,100,000, Government d e p o s i t s $15,000,000, 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 $17*000,000 and cash r e s e r v e s $500,000. Total b i l l s and s e c u r i t i e s were $57,600,000 below the amount h e l d on May 8 t Holdings of d i s c o u n t e d b i l l s decreased $22,500,000 a t the F e d e r a l Reserve Tork ' $17,^00,000 a t San F r a n c i s c o , $7,800,000 a t P h i l a d e l p h i a , and *b,800,000 a t Chicago, and i n c r e a s e d $6,200,000 a t Boston... 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 r e a s e d $11,100,000, while h o l d i n g s of Treasury notes i n c r e a s e d $6,100,000 and of a l l Government s e c u r i t i e s $6,300,000. 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 decreased $10,500,000 a t New York Richmond » $1,1+00,000 a t Chicago, $1 K 300,000 a t D a l l a s , and $1%,000,000 a t a l l F e d e r a l r e s e r v e "banks, together with changes d u r i n g ^ h e ^ e e k ^ n d * t h ^ e a ^ e n d ^ i S y 1 5 ^ 1 9 2 9 ^ 1 ^ : I n c r e a s e or d e c r e a s e since May 15, 1929 3,011,523 2,838,123 Total b i l l s and s e c u r i t i e s B i l l s discounted, t o t a l Secured by U.S. Govt, o b l i g a t i o n s . Other b i l l s d i s c o u n t e d • * < . . . . B i l l s bought in open market . . . . . U. S. Government s e c u r i t i e s , t o t a l Bonds . . . . . . . . j 4 Treasury n o t e s C e r t i f i c a t e s of indebtedness . . . . Tot x epo its .circulation SMembers' J ? r e s e r v*e d e p o s i t s Government deposits". w. X92g (In thousands of d o l l a r s ) Total r e s e r v e s . . Gold r e s e r v e s Federal reserve notes i n May l 6 May 8, 1929 + 209,886 - 756 -2,824 + 197,31% 1,224,349 914,599 512,837 401,762 -57,563 -47,423 -12,977 -34,446 - 35,729 + 142,916 146,107 -11,074 - 201,185 155,226 + 6,338 - 193,665- + 107,187 50,4oo 90,610 l4,816 + 6,115 + 230 - 106,494 -• 4 , i 4 4 9,807 - 92,543 1,646,658 -17,020 + 2,365,50s 2,319,887 -23,706 13,67s " r 7 -I0,i46 -14,957 - - 63,563 68,645 62,269 11,830 Released f o r p u b l i c a t i o n F r i d a y morning, B y 17» 1929; not e a r l i e r S t . 6l90a BES0mC$S MB LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED ( i n thousands of d o l l a r s ) May 15. 1929 May 8. 1929 May 16.1928 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 Total gold r e s e r v e s Reserves o t h e r than g o l d Total r e s e r v e s Non-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 "bills d i s c o u n t e d Total "bills d i s c o u n t e d 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 . . . . 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 F o r e i g n l o a n s on gold 1,329,117 65,071 1,394,188 1,309,905 1,153,806 1,371,965 654,848 789.087 2,838,123 173.400 3,011,523 83,981 678,058 1,225,589 796,15k 512,837 62,060 71,783 790,924 619,066 2,840,947 2,640,809 171,332 3,012,279 78,317 160,828 2,801,637 525,814 64,189 548,566 436,208 962,022 258,846 157,181 347,292 90,610 50,407 l4,si6 84,495 14,586 54,544 h541 >,4li 100,417 107,359 155,826 149,488 262,320 7,817 6,866 990 401,762 914,599 146,107 50,400 807,412 6,355 Total "bills 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 . . . . All other resources . . TOTAL RESOURCES 1,224,349 1,281,912 l,4ig,0l4 , 723 847,343 58,761 657,596 725 570 766,598 8.361 5,235,041 58,739 7,997 59,551 9,482 5,097,565 5,120,041 1,646,658 1,663,678 1,583,095 2,319,887 13,678 6,106 2,330,033 28,635 2,382,156 25,508 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 d e p o s i t s D e f e r r e d 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 Ratio 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. note 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 W. 254,398 25,262 5,235,041 5,097,565 5,120,041 75.: 74.3# 69.7$ 355,195 264,566 156,296 TOTAL LIABILITIES 254,398 26.162 2,365,508 786,019 •• «. . . 7,238 23.308 2,389,214 608,834 5,997 20.492 2,434,153 712,847 139,201 233,319 17,426 25.817 367,498 156,179 b t . oiyuo RESOURCES MB LIABILITIES OF THE FEDERAL RESERVE BANKS ON MAT 15, 1929 ( I n thousands of d o l l a r s ) R E S O U R C E S Total Boston New York Phila. CIeve. 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 F r a n . 60,276 42,033 68,698 261,034 117,299 154,284 37,525 76,634 51,752 27,495 271,698 124,657 160,336 156,248 47,645 66,243 486,300 25,120 49,902 42,218 85,255 281,995 27,549 63,740 46,079 23,953 190,074 11,927 20,681 132,584 33,326 JL6,820 4 1 , 1 2 1 25,291 51,210 5,664 5,39.5 10,917 27,653 16,901 6,704 116,775 10,261 Total'gold reserves R e s e r v e s o t h e r than g o l d 2,838,123 155,881 71,046 H 2 , 6 4 o 531,354 173,400 13,680 914,246 197,422 276,481 50,293 8,567 14,151 Total reserves Non-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 3,011,523 83,981 169,561 7,389 964,539 205,989 290,632 2,276 4 , 1 0 5 36,895 512,837 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 notes 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 titlior Securities Digitized w.for FRASER 10,664 7,358 6,052 4,693 4,975 5,052 22,374 5.175 3,464 4,046 1,919 3,737 71,136 86,224 92,595 60,161 268,937 28.^49 11.108 2.593 5.768 79,422 121,038 559,703 6,049 8,149 5,252 82,244 88,817 3,957 1,206 98,363 1,820 7,068 ,15,04$ 67,229 283/986 3,146' 3,737 8.376 8.398 8,603 l 4 - 3 6 7 12,307 33,524 9,808 18,874 7,766 30,844 60,091 33,775 28,904 2^117 32,4i4 16,814 55,961 57,133 31,371 25,4oo 22,300 93,163 . 254,372 76,466 88,995 56,531 72,775 88,504 47,700 16,369 45,211 22,115 52,398 146,107 28,977 35,U5 10,949 12,003 5,269 8,183 10,646 1,152 3,651 5,506 10,153 14,503 50,4oo 689 1,152 6^7 19,937 5,323 1,035 7,125 7,213 4,552 3,965 86 7,813 3,411 10 64 ll,64o l4,816 24 3,128 9 7,756 17,279 5,295 585 9,081 548 1,796 1,349 155 155,826 3,834 22,729 1^693 1,809 3,161 26,300 14,338 8,603 7,756 11,234 11,704 1,915 402 2,000 1,500 1,250 750 30,623 59,973 24 44,752 24 28,227 1,922 437 79,355 , 52 43,433 3,704. 401,762 46,466 46,697 171,324 83,048 914,599 90,610 7,817 T o t a l "bills and s e c u r i t i e s 1.224.349 Due f r o m f o r e i g n "banks , 7P 347,343 U n c o l l e c t e d items 53,761 Bank p r e m i s e s 8,361 All other resources TOTAL RESOURCES 7,936 80,280 276,943 22,034 186,337' Sold with F e d e r a l Reserve Agents 1,329,117 Gold redemption f u n d w i t h U. S . T r e a s . 65,071 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 1,394,188 654,848 Gold s e t t l e m e n t f u n d w i t h F.R.Board 789,087 GoltLsad g o l d c e r t i f . h e l d "by "banks 5,235,041 - 125,974 54 33,055 3,702 59 42,691 27,112 7,027 5 27,665 - - 314,131 104,510 128,663 63,609 74 84,374 33 217 251,653 16,087 1,326 70 67,847 1,762 202 ' l'.W - — 58,261 3,575 520 84,119 121,450 28 100 26,198 106,923 2, 744 8, 529 2,130 599 63,190 29 39,101 3,951 370 18 15.179 2,110 540 43,092 4, i 4 o 332 522 389,794 1,584,84s 382,656 515,707 210,672 242,306 809,453 192,842 138,493 2C7,;44 145,737 4i4,789 RESOURCES A3D LIABILITIES OF THE FEDERAL KuSZBXZ BASES GSTSEfiT-1% 1929 St b!9Uc ( I n thousands of d o l l a r s ) To t a l Boston New York E h i l a . Clevo, Rich, A t l a n t a Chicago St.Louis Minn. Kans. Cy, D a l l a s San Fran L I A B I L I T I E S l\E.notes ia actual circulation Deposits; Hum"bor bank - r e s e r v e account Government Foreign t a n k Other d e p o s i t s Total d e p o s i t s D e f e r r e d 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 1,646,658 137,227 2,319,887 139,237 488 13,678 6,106 502 _ 25,837 111 — I'lll ^Q5 1 3 6 -p 6l 1 : 1 cti £liL_—6as 5> 2 90 -iu 264 3 4 57,886 63,386 66,037 1:$ 929 2,152 6 5 % 271 2*234 170 315 36,884 154,89s 224 1SQ 1£ 224 77 175 f797 a 122 in 488 7,252 5,235,O4I 389,794 1,584,848 382,656 515,707 210,672 242,306 809,453 192,842 138,493 207,744 145,737 4I4,789 61.1. 78.9 73.6 7^.0 58.9 60.4 S5.9 59.6 77.6 63,5 65.2 83.0 26,724 115,792 34,668 36,835 16,612 14,084 49,475 14,445 9,028 11,917 11,917 26,001 22,293 jp.il.notos r e e * d f r o m C o m p t r o l l e r F . S . n c t o s h o l d by F.E, Agent 3,055,800 #61,945 990,877 102.42^ F . B . n o t e s i s s u e d t o F.R.Bank Collateral held as security for f , E . n o t e s i s s u e d t o F.R.Bank: Gold and gold c e r t i f i c a t e s Gold redemption f u n d Gold f u n d F . E. Board E l i g i b l e paper 2,064,923 159,520 378,295 35,300 80,710 10,398 870,112 23,000 1,017,200 122,062 Total c o l l a t e r a l ' 3 1 7 Total '"IS? 66,542 131,945 304,599 III I I I III111! ill E e s e r v e r a t i o (per c e n t ) 75.1 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 367,498 F„E.notoe on hand ( n o t e s r o c hi 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 ) 4 l 8 , 2 6 5 B i l l s discounted B i l l s bought ill 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 liunicipal warrants 277,973 1^2,262 207,019 914,599 146,107 14,816 402 137,635 39,037 34,488 19,530 28,495 34,062 9,153 8,812 11,773 FEDERAL EESERVE NOTE ACCOUNT OF FEDERAL RESERVE AGISTS ^ « « "S-& 415,608 181,299 241,507 86,072 160,44o 338,661 9,944 63,043 K 3 Z 67,039 72,198 77,810 46,828 217,941 171,880 30,000 47,200 6,690 15,250 8,050 14,167 14,154 11,402 12,084 3,835 6,530 943 1,324 2,109 75»ooo 75,897 95,000 27,000 58,500 276,000 13,000 44,ooo 270,529 70,150 100,749 57,213 80,700 98,899 48,352 19,928 2,673 39,360 50.345 14,758 35,000 3,276 11,982 4,ooo 139,355 32,163 65.110 aram D™DOTira7i*MiLi:0ommic7iy^9^ro4s7^Lram Within 15 days 739,927 75,980 4,781 16 t o 30 days 31 to 60 days 6 l to 90 days 47,440 68,185 25.732 617 35,767 9,108 33,176 102 91 days to 6 months - 21,500 2,111 7,858 300 54,197 252,4117 Over 6 months 1,730 1,560
@FedFRASER