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S T i m m i FOR TH3 PR3SS Released for publication Friday morning, Oct. 25; not carlior. 6360 Federal Reserve Board, October 24, 1929. CONDITION OF FEDERAL ESSESYE BAI-TKS The consolidated statement of condition of the Federal reserve tanks on October 23, made public by tho Federal Reserve Board, shows decreases for the week of $52,600,000 in holdings of discounted b i l l s and of $1,900,000 in Government s e c u r i t i e s , and an increase of $19,300,000 in b i l l s bought in open market. Member bank reserve deposits declined $30,400,000, Government deposits $9>500,000 and federal reserve note circulation $2,300,000, while cash reserves increased $31.^00,000. Total b i l l s and s e c u r i t i e s were $33,300,000 below the amount reported a week ago. Holdings of discounted b i l l s declined $56,300,000 at the Federal Reserve Bank of Chicago, ^22,500,000 at Hew York and ?7,100,000 at Boston, and increased >le,100,000 at San Francisco and $6,300,000 at Cleveland. The System's holdings of b i l l s bought in open market increased $19,300,000, while holdings of U. S, Treasury notes declined $700,000, and of Treasury c e r t i f i c a t e s $1,200,000. The principal changes in Federal reserve note circulation for the week i n cluded a decline of $7,200,000 at the Federal Reserve Bank of Philadelphia and increases of .">4,000,000 at Now York and $3,400,000 at St. Louis. A summary of tho principal assets and l i a b i l i t i e s of the reserve banks, together with changes during the week and the year ending October 23, 1929 follows: ' Increase or decrease since Oct. 23.1929 Oct. 16,1929 Oct. 24.1923 (in thousands of dollars) Total reserves . . . . . Gold reserves 3.189.246 3.035.013 + + 31,487 30,177 + + 411,552 388,783 Total b i l l s and s e c u r i t i e s . . . . . . 1,336,656 - 33.772 - 211,526 B i l l s discounted, total Secured by U.S.Govt, obligations . Other b i l l s discounted 796,353 372,352 424,oo6 - - 52,577 - 23,471 + 65,472 B i l l s bought in open market 379,383 + 19,273 - 22,095 . . . . U. S. Government s e c u r i t i e s , total . Bonds Treasury notes Certificates of indebtedness . . . Federal reserve notes in circulation Total deposits Members' reserve deposits Government deposits . 135,704 37,955 71,375 26,374 2,421,932 181,04l — 1,924 — 1,857,332 2,378,097 15,837 115,569 29,106 - 12 091 1,221 95,343 15,457 - 54,292 25,594 . - 2,289 + 146,923 38,695 30,385 9.514 + + 47,459 56,259 - 9,403 Released f o r p u b l i c a t i o n Friday morning,, October 25,192$; not e a r l i e r . st.6360a HESCTJ3C>'S AITD LIABILITIES OF THIS r-TBLVB FEDERAL R~S3RVE BASKS COMBINED (In thousands of d o l l a r s ) Oct. 25,1929 Oct^_lb,1929 RESOURCES Oct. 24,1928 1,180,352 68,558 1,248,910 Gold with Federal reserve agents Gold redemption fund with U.S.Treasury , . Gold held exclusively against F.R.notes Gold settlement fund 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 other than gold . . . . 1,5^6,526 68,069 l,6l4,595 779»66l 64p,757 3.035.013 15^.833 1,5^7,526 66 ,810 l,6l4,336 753,635 631,815 3,004,836 153,523 Total reserves Hon-reserve cash B i l l s discounted: Sec. by U. S. Government obligations 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 3.189,846 79,9^5 3.158,359 70,746 2,778,294 372,352 424,006 796,358 379,383 4oi ,458 447,477 848,935 360,110 553,393 358,534 911.927 4oi,47S 37,955 71,375 26,374 135,704 25,211 37,967 72,066 27,595 137,628 23,755 1,336,656 727 776,6l4 58,9^ 9,238 1,370,428 754 1,049,813 58,944 9,077 5,^51,970 5,718,121 5,187,892 1,857,332 1,859,621 1,710,409 2,378,097 15,837 5,920 22,078 2,421,932 711.073 167,025 254,398 40,210 2,4oS,4o2 25,351 5,203 ^ 21,591 2,460,627 937,453 166,998 254,398 39,024 2,321,838 5, ; +51,970 5,718,121 5,187,892 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 411 other resources . . . . . . . . . TOTAL RESOURCES 706,947 _i90JZ3 2,646,230 132,064 57,487 53,412 125,667 51,968 231,047 3,730 1,548,182 732 , 734,235 60,513 8,449 L I A B I L I T I E S F. R. notes 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 deposits . . . . Deferred a v a i l a b i l i t y items Caoital paid in Surplus All other l i a b i l i t i e s TOTAL LIABILITIES . . . . 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 . . . 74.5% 73• 1% Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents • 4b6,95° 463,153 C 25, 24o 6,086 20,709 2,374,473 689,914 145,926 233,319 33,851 6s.< 262,421 RESOURCES AHD LIABILITIES OF THE FEDERAL RESERVE BAMS OH OCTOBER 23, 1929 St. 6360b (in thousands of dollars) Total Boston New York P h i l a . Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal Reserve Agents 1,546,526 184,917 371,641 117,000 107,780 4l,656 103,500 279,564 53,800 37,157 60,000 27,748 161,763 Gold redemption fund with U.S.Treasury o8,0o9 7,115 12,631 5,363 5,232 3,927 4,322 7,888 6,434 4,317 2,673 3,291 4,876 Gold held exclusively against RESOURCES p. R. notes Gold settlement fund with F.R.Board Gold and gold c e r t i f . h e l d by banks l,6i4,595 192,032 779,661 640,757 55,534 28,420 384,272 122,363 113,012 45,583 107,822 287,452 60,231+ 41,474 62,673 31,039 166,639 260,326 4p8,157 38,068 22,332 71,728 38,q43 22,428 9,2p4 17,813 156,243 3,747 77,261 46,005 5,966 16,337 5,038 39,964 5,177 26,820 8,988 28,395 28.424 Total gold r e s e r v e s Reserves other than gold 3,035,013 275,986 1,052,755 182,763 222,783 154,833 10,807 64,454 9,224 7,562 77,215 129,382 520,956 112,205 6,853 13,663 12,972 6,590 62,84$ 107,814 2,474 3,831 66,847 223,458 4 , 6 l 3 11,790 Total r e s e r v e s Eon-reserve cash B i l l s discounted: Secured by U.S.Govt, obligations 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 U.S.Govt, s e c u r i t i e s Other s e c u r i t i e s 3,189,846 286,793 1,117,209 191,987 230,345 79,945 17,583 23,420 1,784 4,081 84,068 l43,o45 533,928 118,795 4,S06 6,4l5 7,706 2,883 65,323 111,645 2,007 2,249 71,460 235,248 2,972 4,039 Total b i l l s and_securities Dae from foreign banks Uncollected items Bank premises All other resources TOTAL RESOURCES 372,352 424,006 27,449 796,358 379,383 55,251 37,955 27,802 19,116 689 58,970 48,181 42,233 48,877 31,395 42,068 107,151 73,628 90,945 124,105 17,405 41,698 25,211 874 1,081 2,644 1,000 155 548 585 7,325 8,219 26,106 9,954 8,061 1,260 17,434 16,865 27,914 15,300 1,125 1,500 1,336,65.6 727 776,6l4 58,944 9, 2 38 78,011 54 80,494 3,702 119 263,990 109,023 162,057 221 JO jk 213,6l8 62,574 73,194 16,087 1,762 6,535 786 l4g 1,28b 135,704 23,468 31,673 55,l4l 19,353 11,121 16,911 8,775 4s,226 25,905 32,165 29,222 23,027 45.967 53,587 93,916 51,325 43,286 46,133 31,802 94,193 42 25,960 50,24o 4,557 21,123 15,635 4o,l49 9,224 44,363 51,678 42,238 25,420 89 19,937 2,125 6,500 24,666 2,000 8,625 1,152 375 282 2,817 560 1,809 3,466 76,303 33 58,363 3,395 571 2,271 2,45s 83,013 170,822 59,992 28 100 29 23,855 94,859 36,148 2,744 8,529 3,997 3,894 537 357 4,795 3,500 528 8,8 23 4,286 6o,952 18 17,754 2,110 524 3 310 7,813 2,774 675 67 10,611 1,205 313 11,262 11,883 67,569 24 45,154 4,i4b 200 58,699 146,225 24 52 29,371 41,230 1,922 4,021 331 4g4 5,451,970 466,756 1,635,331 367,349 477,572 227,539 262,994 816,481 222,201 148,688 230,981 164,779 431,299 L I A B I L I T I E S RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BASKS OH OCTOBER 23,1929 (in thousands of d o l l a r s ) Total Boston Hew York P h i l a . Cleve. Rich. A t l a n t a Chicago St.Louis F.E.notes i n a c t u a l c i r c u l a t i o n 1,857,332 Deposits: Member bank - r e s e r v e account 2,378,097 Government 15,837 Foreign bank 5>920 Other deposits 22,078 2,421,932 Total deposits 711,073 Deferred a v a i l a b i l i t y items 167,025 C a p i t a l p a i d in 254,398 Surplus 40,210 All other l i a b i l i t i e s TOTAL LIABILITIES 5,451,970 Reserve r a t i o (per c e n t ) 74.5 Contingent l i a b i l i t y on b i l l s p u r r chased f o r f o r e i g n correspondents 48o,956 F.R.notes on hand (notes r e c ' d from F.R.A^ent l e s s n o t e s i n c i r c u l a t i o n ) ^54,020 F.R.notes r e c ' d from Comptroller F.R.notes h e l d 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 issued t o F.R.Bank: Gold and gold c e r t i f i c a t e s Gold fund - 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 in open market C e r t i f i c a t e s of indebtedness Municipal warrants s t . 6360c Minn. Kans.Cy, 337,985 132,047 176,388 85,753 153,699 302,1)48 86,066 68,347 83,122 52,615 175,061 150,323 1.113 385 82 952,818 135,737 184,526 2,556 187 538 2,293 499 531 8,202 231 927 151,903 78,037 10,791 19,619 965,869 184,558 64,389 71,282 11,248 2,605 466,756 1,635,331 80.6 85.7 64,303 1,420 63,732 360,692 79,919 53,843 92,506 66,139 2,692 2,216 163 1,243 1,390 938 203 208 239 172 713 130 172 65 167 2,981 231 26 277 195 137,005 186,171 66,027 66,794 366,602 80,521 55,1<38 94,116 67,727 54,937 69,151 55,268 23,638 84,799 37,471 13,482 38,970 30,070 16,526 15,597 6,021 5,385 19,896 5,223 4,264 3,063 4,487 24,101 26,345 12,399 10,554 36,442 10,820 7,082 9,086 8,690 3,920 2,071 2,733 2,924 6,294 2,100 1,526 1,423 1,190 367,349 477,572 227,539 262,994 816,481 222,201 148,688 230,981 164,779 71.4 63.5 64.9 55.4 79-8 71.3 63.0 52.9 59.4 173,559 1,381 375 8,694 184,009 40,692 11,383 17,978 2,176 431,299 65.5 34,273 164,138 44,463 47,242 21,305 18,063 63,452 18,526 11,579 15,284 15,284 33,347 39,253 161,035 3,524,381 298,704 1,213,020 55,650 31,995 22,598 15,822 28,092 44,110 15,611 8,873 8,795 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 917,250 224,982 271,506 166,369 287,801 526,678 126,787 132,4i4 124,837 418,230 60,940 72,520 64,794 106,010 180,120 25,110 55,194 32,920 2,311,361 243,054 499,020 164,042 198,986 101,575 181,791 346,558 101,677 405,599 i,i4o,93b 1,083,125 2,629,651 218,015 153,626 172,223 543,864 Total 796,358 379,383 26,374 l,l6l Dallas San Fran. 203,801 55,300 149,bi7 73,104 258,021 10,787 67,058 78,034 369,019 14,632 126,900 77,220, 91,917 ~63,4o2 242,119 29,600 22,780 16,190 9,500 7,800 14,157 17,248 35,000 87,4oo 85,000 25,466 94,000 279,564 46,000 23,000 60,000 10,500 126,763 79,019 126,970 66,566 78,844 i4i,727 51,250 47,181 66,543 46,651133047 196,019 234,750 108,222 182,344 421,291 105,050 84,338 126,543 74,399 294,810 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS 91 days to ? i thin 15 days 16 to 30 days 31 to 60 days ol vto 90 days Over 6 months 6 months 603,173 52,609 84,054 48,59b 7,641 285 95,715 37,294 111,603 131,233 3,538 3,800 5,217 2,6ib L6 I4,74I 600 436 125
@FedFRASER