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STATEMENT 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 24; not e a r l i e r St.6204 Federal Reserve Board May 23, 1929 CONDITION OF FEDERAL RESERVlf 8AHK5 ihe 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 Federal r e s e r v e banks on May 22, made p u b l i c by t h e F e d e r a l Reserve Board, dhows d e c r e a s e s f o r t h e week of $10,200,000 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 , of $8,100,000 i a b i l l s bought i n open market and of $2,500,000 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 $44,100,000, while Government d e p o s i t s i n c r e a s e d $5,600,000 and cash r e s e r v e s and F e d e r a l r e s e r v e n o t e s d e c l i n e d $3*400,000 and $7,100,000, r e s p e c t i v e l y . Total b i l l s and s e c u r i t i e s were $20,800*000 below the amount h e l d on May 15. Holdings of d i s c o u n t e d b i l l s d e c l i n e d $57,000»000 a t the F e d e r a l Reserve Bank of New York. A l l of the o t h e r F e d e r a l r e s e r v e batiks r e p o r t i n c r e a s e d 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 i n c r e a s e s being $10,200,000 a t Chicago, $8,900,000 a t Boston, $7,900,000 a t San Fraiiciscb, $6,300,000 a t S t . Louis and $4,800,000 each a t Richmond and Kansas C i t y . The System's h o l d i n g s of b i l l s bought i n open market decreased $8*100,000 and of Treasury c e r t i f i c a t e s $3,800,000 while h o l d i n g s of Treasury n o t e s i n c r e a s e d $1,200,000. 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 $3,100,000 a t Cleveland, $2,900,000 a t New York, $1,600,000 a t P h i l a d e l p h i a and $7,100,000 a t a l l F e d e r a l r e s e r v e banks. A sumnary of the p r i n c i p a l a s s e t s and l i a b i l i t i e s of the r e s e r v e banks t o g e t h e r with changes d u r i n g the week and the y e a r ending May 22, 1929, f o l l o w s : I n c r e a s e or decrease since May 22. 1929 May 15. 1929 May 21. 1928 (In thousands of d o l l a r s ) . 3,008,131 Total b i l l s and s e c u r i t i e s B i l l s discounted, t o t a l . . . . . 1,203,516 Total r e s e r v e s . . . Gold r e s e r v e s . . . 2,841,902 - 3.392 + 212,746 + 3,779 + 207,610 -20,833 - 205,989 904.426 -10.17? + F6_QR4 B i l l s bought* i n open market 137,986 - 8,121 - 192,576 U.S.Government s e c u r i t i e s , t o t a l Bonds . Treasury n o t e s C e r t i f i c a t e s of i n d e b t e d n e s s . 153,287 - 2,539 Secured by U.S.Govt, o b l i g a t i o n s Other b i l l s d i s c o u n t e d 50,386 91,839 11,062 - 77,194 - 77,731 14 + 1,229 + - 3,75% 6,142 6,679 Federal r e s e r v e n o t e s i n c i r c u l a t i o n 1,639,55^" 1,639,55b - 7,104 + 60,171 Total d e p o s i t s . . Members' r e s e r v e d e p o s i t s Government d e p o s i t s 2,324,511 2,275,752 19,291 -40,997 -44,135 + 5,613 - 92,024 93,896 2,214 . . . Thursday, May 30, b e i n g a h o l i d a y , the weekly statement of c o n d i t i o n of the F e d e r a l r e s e r v e banks f o r May 29 w i l l be i s s u e d on F r i d a y , May 31, and r e l e a s e d f o r p u b l i c a t i o n on Saturday, June 1. Released f o r p u b l i c a t i o n Friday morning,May 24, 1^2$; not e a r l i e r . St. 6203a RESOURCES AND LI'31LITIES OF THE TWELVE FEDERAL RESEflVE BATIKS COMBUSTED (in thousands of d o l l a r s ) RESOURCES Gold with Federal reserve agents . . . . Gold redemption fund with 7J. S. T r e a s . . . . Gold held exclusively against F<R.notes . Gold settlement fund with F. 3 . Board . . . Gold and gold c e r t i f i c a t e s held "by banks Total gold Reserves Reserves other than gold 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 discounted Total b i l 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 notes C e r t i f i c a t e s of indebtedness . . . . . Total TJ. 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 All other resources . . . . . . . TOTAL RESOURCES May 22, 1929 May 15, 1929 May 23,192# 1,318,551 61,196 1,379,747 652,4o4 309,751 2,841,902 166,229 1,329,117 65,071 1,394,188 654,848 __7S9i_qS7 2,838,123 173,400 3,011,523 83,981 1,130,353 68,114 1,198,467 -Us^r^sg. 4t4r%s-»'ML* 512,837 401,762 574,589 272,883 904,426 137,986 914,599 146,107 847,472 330,562 50,386 91,839 11,062 153,287 7,817 1,203,516 726 691,228 58,761 8,319 50,4oo 90,610 i4,si6 155,826 7,817 56,528 85,160 88,793 230,481 990 1,224,349 723 847,343 58,761 8,361 1,409,505 571 656,931 6o,oi4 9,439 5,056,798 5,235,o4i 4,999,472 1,639,55% 1,646,658 1,579,383 2,275,752 19,251 6,362 23,106 2,319,887 13,678 6,106 25,837 2,369,64s 21,505 5,923 19,459 2,324,511 2,365,508 655,232 156,279 254,398 26,824 786,019 156,296 254,398 26,162 2,416,535 612,621 139,626 233,319 27,988 3,002,131 85,517 814,595 621,230 2,634,292 161,093 2,795,385 67,627 a~oA,S±C 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 - reserve account . . . . Government Foreign bank Other deposits 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 in Surolus All other l i a b i l i t i e s TOTAL LIABILITIES . . . . 5,056,798 5,235,o4i 4,999,472 Ratio of t o t a l r e s e r v e s to deposit and F. R. note l i a b i l i t i e s combined .' . . 75.955 75. life 70.0^ Contingent l i a b i l i t y on b i l l s purchased f o r f o r e i g n correspondents . . . . . 381,751 367,49s 266,955 RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MAY 22, I929 (in thousands of dollars) RESOURCES x Total Boston New York phila. Cleve. Gold with Federal Reserve Agents 1,318,551 66,042 26l,034 lib,148 154,474 Gold redemption fund with U.S.Treas. 61,196 9.878 10,127 8,058 5,242 Gold held exclusively against F. R. notes 1,379,747 75,920 271,151 124,206 159,716 Gold settlement fund with F.R.Board 652,4o4 50,342 190,111 42,424 69,249 Gold and gold c e r t i f . held by banks 809,751 26,750 505,125 26,107 50,002 Total gold reserves 2,841,902 153.012 966,387 192,737 278,967 Reserves other than gold 166,229 12,769 47,672 8,420 12,645 Tntai reserves 3,008,131 165,781 l,oi4,059 201,157 291,612 Non-reserve cash 85,517 7,213 40,075 2,170 3,393 B i l l s discounted: *4 nL.iSl Secured "by U.S..Govt, obligations h&frS€» 50,508 3 ^ 7 5 7 /46.039 56,0l6 Other b i l l s discounted 4l4,498" 51,598 7~3r5&3r30,824 34,199 904,426 102,106 197,325 76,863 90,215 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 : londs Treasury notes C e r t i f i c a t e s of indebtedness Total U.S. Govt, 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 resources TOTAL RESOURCES DigitizedC for FRASER 137.986 26,065 50,386 689 91,839 .1,794 11,062 1,350 153,287 3,833 7,817 1,203,516 132,004 726 54 691,828 68,363 58,761 3,702 61 8,319 27,441 11,597 11,722 Rich. Atlanta Chica&o St.Louis Minn. Kans.Cy. Dallas San Fran. 31,874 80,890 276,944 21,697 61,915 ^ > 3 5 21,500 185,598 3,132 4,242 4,393 5.562 1,658 3.441 1,866 3,b07 35,006 85,132 281,337 11,911 18,835 119,843 17,364 6,249 117,647 64,281 110,2l6 518,827 8,355 7,593 28,1^4 72,636 117,809 546,971 5.101 5,835 8,071 „„ 25,098 18,988 66,939 36,257 54,208 31,782 61,355 73,196 98,721 5.311 27,259 30,999 10,371 68,629 10,989 79,618 3,764 .29,846 24,150 53,996 8,216 12,734 1,142 63,573 l6,ll6 5,812 85,501 2,519 88,020 1,130 , 8,679 8,037 16,766 3,403 43,876 37,953 5.536 87,365 5.668 93,033 1,832 23,366 189,205 25,871 38,750 10,968 27,820 60,205 255,775 6,889 l4,566 67,094 270,341 2,989 3,944 „ ,, lo,498 11,579 35,981 33,521 11,986 24,318 50,019 23,565 60,299 6,129 10,754 13,472 7,813 7,756 4,545 7,125 17 19,937 548 1,152 585 155 3,411 6,143 6,500 3,969 3,123 18,409 9,081 27,112 657 29 11 520 2,120 7,027 5 8,543 7,756 11,224 20,684 16,693 27,665 1,809 3,151 26,600 13,625 1,250 2,000 1,500 402 1,915 247,365 105,555 129,602 68,475 84,563 138,055 68,763 30,712 65,4O4 46,793 24 24 18 28 100 29 220 74 70 33 23,648 187,965 59,327 72,035 51.910 22,859 82,392 30,467 13,176 37,153 4,i4o 1,922 2,110 2,744 8,529 3,951 16,087 1,762 6,535 3.575 4o8 337 2,118 547 581 378 216 1,342 1,306 497 - - - 64 li,64o 11,704 750 86,225 52 42,533 3,704 528 5,056,798 377,178 1,502,077 370,257 504,593 202,227 235.956 754,699 186,970 135.713 201,923 142,878 407,327 L I A B I L I T I E S RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON' MAT22, 1929 (In thousands of d o l l a r s ) Total Boston Hew York P h i l a . CIeve. Rich. Atlanta Chicago St. Louis St. 6203c Minn. Kans.Cy. Dallas San Fran. F . R . n o t e s i n actual c i r c u l a t i o n 1,639,554 137,688 275,051 l4o,646 203,921 66,163 131,497 305,411 57,788 63,053 66,431 37,420 154,485 Deposits: Member "bank - reserve account 2,275,752 138,540 913,102 133,459 186,729 64,938 63,612 330,831 76,102 48,897 86,791 64,508 168,243 1,468 1,481 3,202 828 1,443 1,325 1,636 3,189 19,291 1,255 Government i,34l 735 1,388 224 488 224 6,362 502 264 929 271 170 Foreign bank 1,635 651 692 312 23,106 113 Other d e p o s i t s 133 8,74l 196 495 87 93 766 2,407 199 19 9,857 Total d e p o s i t s 2,324,511 i4o,4io 926,680 135,134 189,359 66,662 65,605 335,715 80,121 50,001 88,536 bb,215 I5u,0b9 655,232 67,457 170,704 53,362 67,245 49,352 20,946 83,094 31,418 11,459 32,552 25,386 42,257 Deferred a v a i l a b i l i t y items 156,279 10,374 Capital paid in 4,457 11,241 56,202 15,303 15,101 6,177 3,053 4,279 5,333 19,528 5,231 254,398 19,619 71,282 24,101 26,345 12,399 10,554 36,442 10,820 Surplus 7,082 9,086 8,690 17,978 A l l other l i a b i l i t i e s 26,824 1,630 1,065 1,039 706 1,297 7,158 1,711 2,622 1,474 , 2,021 4,509 . , 1,592 5,056,798 377,178 1,507,077 3 7 0 , 2 5 7 504,593 2 0 2 , 2 2 7 235,95b 784,699 1 2 ^ 7 0 13577X3" TOTAL LIABILITIES 201,923 £42,878 407,327 ' 77.9 84.4 72.9 60.0 64.7 80.8 75.9 59.6' 74.1" 54.7 59-8 85-3™ 57.7 Reserve r a t i o (per cent) Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents 381,751 27,195 125,605 35,280 37,485 16,905 14,333 50,347 14,700 9,187 12,127 12,127 26,460 F . E . n o t e s on hand (notes r e c ' d from F.R.Agent l e s s notes i n c i r c u l a t i o n ) 4 2 6 , 5 1 0 22,576 8,875 63,397 140,880 42,502 38,075 19,259 29,553 32,854 8,974 8,784 10,781 FEDERAL RESERVE NOTE ACCOUNT OF FEDERAL RESERVE AGENTS 3,227,661 285,489 779,016 209,208 310,846 161,113 264,610 442,265 92,552 125,161 138,172 70,147 349,082 5»BL.notes r e c ' d from Comptroller F . R . n o t e s h e l d by F. R. Agent l , l b l , 5 9 7 125,225 363,085 26,060 68,850 75,691 103,560 104,000 25,790 53,324 60,960 23,852 131,200 F.R.notes is s u e d to F.R.Bank 2,066,064 160,264415,931 183,l4s 241,996 85,422 161,050 338,265 66,762 71,837 77,212" "46,295 217,882 C o l l a t e r a l h e l d a s security f o r F . R . n o t e s i s s u e d to F.R.Bank: 14,758 35,000 6,690 13,250 8,050 14,167 Gold and gold c e r t i f i c a t e s 376,295 35,300 171,880 30,000 47,200 102,211 17,742 8,184 Gold redemption fund 14,154 10,251 12,274 5,64o 2,944 2,647 3,748 3,075 2,742 18,810 Gold fund - F. R. Board 84o,0452*13,000 75,000 75,897 95,000 17,000 62,000 274,000 11,000 44,000 37,360 4,000 131,788/C E l i g i b l e paper 999,841 128 ,.093 205,614 76,965 100,918 58,206 81,137 111,205 54,645 20,088 55,886 34,183 72,961 Total c o l l a t e r a l 2,318,442 194,135 466,648 193,113 255,392 90,080 162,027 388,l4g 76,342 82,005 96,321 55,683 258,549 S' MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS \ 91 days to Total !7ithin 15 days 31 to 60 days 6l to 90 days Over 6 months 6 months 16 904,426 45,&dayS 718,591 B i l l s discounted 42,6q4 71,402 1,970 21,621 73,110 B i l l s bought i n open market 137,986 31i118 10,265 11,062 2,120 ll381 C e r t i f i c a t e s of indebtedness 35 402 102 300 Municipal warrants C If
@FedFRASER