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STATEMENT FOR THE PRESS Released f o r publication Friday morning, Sept. 27; not e a r l i e r . gzgg Federal Reserve Board September 26, 1929 CONDITION OF FEDERAL RESERVE BOKS The consolidated statement of condition of the Federal reserve banks on September 25, made public by the Federal Reserve Board shows increases for the week of $10,500,000 in holdings of discounted b i l l s and $22,800,000 in b i l l s bought in open market and a decrease of $25,600,000 in holdings of U. S. s e c u r i t i e s . Cash reserves of the Federal reserve banks increased $6,000,000 and government deposits $41,800,000 while member bank reserve deposits declined $16,900,000 and Federal reserve note c i r c u l a t i o n $9,500,000. Total b i l l s and s e c u r i t i e s were $7,300,000 above the amount reported a week ago. Holdings of discounted b i l l s increased $12,300,000 a t the Federal Reserve Bank of itfow York, $0,400,000 at Cleveland, $6,200,000 at Boston and $^,500,000 a t San Francisco and declined $11,200,000 a t Chicago and .7,300,000 at Philadelphia. The System's holdings of b i l l s bought in open market increased $22,300,000 while holdings of U. S. bonds declined $5,000,000, of Treasury notes $7,^00,000 and of Treasury c e r t i f i c a t e s $12,600,000. The principal changes in Federal reserve note c i r c u l a t i o n during the week include an increase of $2,400,000 at the Federal Reserve Bank of St. Louis and decreases of *5,300,000 a t Chicago and $3,900,000 a t San Francisco. A summary of the principal assets and l i a b i l i t i e s of the reserve banks, t o gether with changes during the week and the year ending September 25, 1929 follows: Increase or decrease since Sept. 25.1929 Sept. 13.1929 Sept. 26.1923 (in thousands of d o l l a r s ) Total reserves Gold reserves 3,162,175 2,997,567 + 8,167 + 391,113 + 364,565 Total b i l l s and s e c u r i t i e s . . . . . 1,375,467 + 7,789 - 944,399 443,214 501,135 + 10,483 + 4,856 263,934 + 22,831 U. S. Government s e c u r i t i e s , t o t a l . Bonds Treasury notes C e r t i f i c a t e s of indebtedness . . . 152,059 - 25,550 - 4,998 - 7,933 Federal reserve notes in circulation . 1,337,899 Total deposits . . . Members' reserve deposits Government deposits . . . . . . . 2,446,160 B i l l s discounted, t o t a l Secured by U.S.Govt, obligations . Other b i l l s discounted • B i l l s bought in open market C . . . . 37,660 37,050 27,349 2,364,434 55,285 + 6,o44 66,367 166,929 100,562 + 5,627 + — 9,528 ' + 17,710 - 16,930 + 41,836 515 76,973 15,717 2,172 - 12,619 - 132,330 59,084 + 156,318 + + + 80,010 48,622 42,586 Released f o r publication Friday morning, September 27,19295 not e a r l i e r . St. 6329a RESOURCES AND LIABILITIES OF THE i m V B FEDERAL RESERVE BAMS COMBINED (in thousands of d o l l a r s ) Sept. 25.1929 Sept. 18.1929 Sept. 26,1928 RESOURCES Gold Tdth 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 held by "banks Total gold reserves Reserves other than gold Total reserves Non-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 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 indebtedness 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 foreign banks Uncollected items Bank premises All other resources TOTAL RESOURCES . . . . . . .1,529,3*4-5 64,114 1,593,%59 75*+,882 649,226 2,997,567 l64,60S 1,5%6,555 67,195 1,613,750 730,013 6%,637 2,989,400 166,731 1,214,889 65.503 1,280,392 666,714 685,896 2,633,002 138,060 3,162,175 73,617 3,156,131 69,423 2,771,062 56,196 443,214 501,185 9^,399 263,93% 4-38,358 495,558 933,916 24l,103 6lO,l43 400,623 1,010,766 263,419 37,660 87,050 , 27,349 152,059 15,075 1,375,^7 769 750,429 58,903 10,06l 42,658 9%,983 39,968 177,609 15,050 727 53,377 89,222 86,433 229,032 4,580 1,507,797 573 58,890 10,079 60,320 8,84l 1,367,678 910,962 689,765 5>31,421 5,573,890 5,094,55% 1,837,899 1,847,427 1,681,581 2,364,434 55,285 7,234 19,207 2,446,l6o 2,381,364 13,449 2,315,812 12,699 7,337 30,302 2,366,150 689,263 167.028 254,398 36,673 841,196 l66,716 254,398 35,703 638,620 1^5,618 233,319 5,431,421 5,573,890 5,094,554 L I A B I L I T I E S F. R. notes in actual 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 Capital paid in Surplus All other l i a b i l i t i e s TOTAL LIABILITIES 7,658 25,979 2,428,450 29,260 Ratio of t o t a l reserves to deposit and F. R. note l i a b i l i t i e s combined . . . 73.8$ 73»8$ 68.5% Contingent l i a b i l i t y on b i l l s purchased for foreign correspondents 455,776 448,503 272,886 C FRASER Digitized for RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BANKS OH SEPTEMBER 25, (in thousands of d o l l a r s ) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago Gold with Federal Reserve Agents 1,529,345 169,917 274,330 117,000 143,900 46,656 108,500 329,564 Gold redemption fund with U.S.Treasury 6 4 , l l 4 7,924 15,6o4 6,4ll 3,793 3,540 4,072 2,698 Gold held exclusively against 1,593,459 177,841 F. R. notes 289,934 123,411 147,693 50,196 112,572 33.2,262 754,882 48,895 234,192 43,142 91,436 28,494 17,153 118,641 Gold settlement fund with F.R.Board 649,226 32,010 402,632 30,058 36,313 8,090 3,672 81,144 Gold and gold c e r t i f . held by banks 2,997,567 258,746 926,758 196,611 275,442 86,780 133,397 532,047 Total gold reserves 164,608 13,095 64,423 8,054 9,742 7,957 9,717 19,025 Reserves other than gold 3,162,175 271,841 991,181 206,353 283,399 94,834 143,114 551,072 Total reserves 73,617 10,199 24,347 1,288 7,851 7,525 ^Ton-reserve i a s h 5,504 3,177 B i l l s di scowited: 443,214 31,512 138,751 44,062 47,861 20,624 5,247 51,833 Secured by T J.S. Govt, obligations 501,185 33,839 94,192 35,325 34,274 35,385 56,916 50,388 Other b i l l s discounted Total b i l l s discounted 944,399 65,351 232,943 79,387 82,135 56,009 62,163 102,221 263,934 20,895 113,527 13,870 16,150 7,990 14,952 26,376 B i l l s bought in open market U. S._ Government s e c u r i t i e s : 37,660 818 31 20,231 786 1,152 875 Bonds 853 87,050 1,445 2,842 3,080 8,832 26,929 25,195 Treasury notes 375 282 11,270 8,061 1,260 27,349 1,082 546 2,028 C e r t i f i c a t e s of indebtedness 3,402 152,059 Total U.S.Govt, s e c u r i t i e s 37,318 17,679 29,007 1,809 3,419 25,339 — — 11,000 Other s e c u r i t i e s 15,075 500 325 RESOURCES Total b i l l s and s e c u r i t i e s Due from foreign banks Uncollected items Bank premises All other resources TOTAL RESOURCES C 89,648 769 , 54 750,429 76,784 58,903 3,702 10,061 74 1,375,467 1929 St. 6329b St.Louis Minn. Kans.Cy. Dallas San Fran. 21,800 45,157 70,000 25,758 176,763 6,424 3,489 2,517 2,645 4.997 28,224 48,646 72,517 28,403 181,760 46,185 18,247 44,so4 32,187 31,506 6,696 4,538 5,562 8,901 29,610 81,105 71,431 122,883 69,491 242,876 1,616 4,153 5,193 13,043 8,590 89,695 73,047 127,036 74,684 255,919 3,882 3,453 1,262 2,128 3,001 23,806 11,571 15,281 46,749 25,745 70,555 37,316 42 5,137 4,647 3,781 — — 630 9,058 3,250 9,844 42,822 21,172 24,089 43,111 36,453 33,933 85,933 8,275 9,697 27,023 152 468 302 7,813 2,774 675 11,329 1,205 310 930 11,262 12,836 - - 394,788 111,261 127,292 65,808 80,534 154,436 70,597 54,761 45,658 54,892 125,792 24 24 264 18 52 29 70 74 28 99 33 208,402 62,3a 71,994 54,370 24,992 96,267 32,831 16,431 40,732 27,582 37,723 16,087 1,762 6,535 3,395 2,744 8,529 3,997 2,110 4,i4o 1,922 3,980 222 478 470 600 320 127 1,217 4,153 882 989 529 5,431,421 452,302 1,636,058 383,182 493,688 224,473 263,416 818,810 200,922 148,229 219,940 162,583 427,818 L I A B I L I T I E S RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BANKS GET SEPTEMBER 25, I929 (In thousands of d o l l a r s ) Total Boston Hew York Phi l a . Cleve. Rich. Atlanta Chicago St. Louis F.R.notes in actual c i r c u l a t i o n 1,837,899 Deposits: 2,364,434 "ember "bank - reserve account Government 55,285 Foreign bank 7,234 Other deposits 19,207 Total deposits 2,446,160 Deferred a v a i l a b i l i t y items 689,263 Capital paid in 167,028 Surplus 254,39s All other l i a b i l i t i e s 36,673 TOTAL LIABILITIES 5,431,421 Reserve r a t i o (per cent) 73.8 Contingent l i a b i l i t y on b i l l s pur455,776 chased f o r foreign correspondents F.R.notes on hand (notes r e c ' d from t F.R.Agent l e s s notes in circulation)464,447 F.R.notes r e c ' d from Comptroller F.R.notes held by F. R. Agent F.R.notes issued to F.R.3ank C o l l a t e r a l held as security f o r F.R.notes issued to F*R.Banks Gold and gold c e r t i f i c a t e s Gold fund - F. R. Board Eligible 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 Digitized for C FRASER 193,019 St. 6329c Minn. Kans.tiy. Dallas San Fran. 320,586 147,282 185,932 80,025 154,455 312,524 70,571 66,923 79,745 50,364 176,673 148,833 957,988 3,053 16,946 381 3,642 65 7,206 152,332 935,782 73,968 183,054 10,800 64,409 19,619 71,282 2,564 10,945 452,302 1,636,058 78.7 75.9 133,236 3,061 495 211 137,003 55,802 16,522 24,101 2,472 190,511 64,396 62,027 351,825 :2, 6o4 8,507 5,652 3,9H 526 237 201 706 i,i43 98 167 1,013 194,784 73,238 68,047 357,455 67,758 50,847 22,294 87,017 15,537 6,159 5,371 19,832 26,345 12,399 10,554 36,442 3,332 1,805 2,695 5,740 383,182 493,688 224,473 263,416 818,810 74.4 64.3 72.6 61.9 82.3 75,362 54,222 87,703 65,355 2,147 1,664 1,307 4,259 206 129 170 170 46 271 201 434 77,986 56,216 89,614 69,830 34,498 13,608 36/118 28,150 5,221 3,054 4,259 4,498 10,820 7,082 9,086 8,690 1,826 1,346 1,118 1,051 200,922 148,229 219,g4o 162,583 62.1 60.4 59.3 75.0 172,976 2,174 371 8,352 183,873 36,149 11,366 17,978 1,779 427,818 71.0 33,523 140,025 43,489 46,208 20,839 17,668 62,063 18,121 11,325 14,949 14,949 32,617 501455 167,991 36,385 18,019 18,231 27,981 38,228 12,982 6,010 9,743 10,484 67,938 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGEcJTS 3,754,811 343,714 1,452,465 100,240 2,302,346 243,474 961,112 256,016 293,476 174,610 299,516 576,633 121,403 143,827 131,748 77,245 375,5H 472,535 72,349 89,525 76,354 117,080 226,081 37,850 70,894 42,260 16,397 130,900 488,577 183,667 203,951 98,256 182,436 350,552 83,553 72,933 89,488 6o,s4s 244,611 4I4,4O9 1,114,936 1,123,854 2,653,199 220,704 53,626 299,501 573,831 Total 944,399 263,934 27,349 325 35,300 134,617 84,990 254,907 29,600 87,4oo 71,733 188,733 28,900 115,000 96,426 24o,326 16,190 9,500 7,800 30,466 99,000 329,564 i4,ooo 58,183 76,407 126,173 70,480 io4,S39 184,907 455,737 92,280 14,157 17,258 35,000 31,000 70,000 8,500 141,763 41,995 44,071 43,045 110,850 87,152 114,071 6'8,803 287,613 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AMD MUNICIPAL WARRANTS 91 days to Within 15 days l6 to 30 days Over 6 months 31 to §0 days 6l to 90 days 6 months 714,584 123,010 6,s6b 66,035 32,213 300 103,521 49,948 54,519 57,092 5,092 5,267 1,671 84s 473 14,543 25 —- ^9 ,
@FedFRASER