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STA'I'EtviENT FOR THE PRBSS
St. 3459
Federal Reserve Board,
April 12, 1923.
Released for publication
Friday morning Apr, 13;
not earlier.
CONDITION OF FEDERAL RESEPVE BAlTIZS
Net liq,uidation of $72,600,000 of discounted. bills and of $1,000,000 of United
States securities, as against an increase of $14,500,000 in bills purchased in open
mar:zet, is shown in the Federal Reserve Board's weekly bank statement issued as at
close of business on April 11, 1923. Reductions in the holC:.ings of discounted bills
are shown for all reserve banks, except those at Cleveland, Ricb.rr10nd and Dallas,
the largest decreases being reported for the Chicago and New York banks. Deposit
liabilities declined about $46,500,000, both Govarnrnent and members' reserve deposits
showing substantial reductions. Federal reserve note circulation declined
$9,900,000, cash reserves increased $11,400 1 000, while the reserve ratio shows a
rise for the week from 75 to 76.3 per cent.
The banks show a total increase in their gold reserves of $16,300,000. Chicago
re?orts an increase of $30,600,000, and smaller increases aggregating $9,900,000 are
shown for six other reserve banks. The gold moverr:ent for the week was away from
New York, which reports a decrease in its gold reserve of $11,600,000. Atlanta
shows a decrease of $5,700,000, and smaller decreases aggregating about $7,000,000
are shown for the Cleveland, Boston and St. Louis baru{s.
Liquidation of discounted paper affected largely bills secured by Government
obligations, which show a decline for the week from $330,300,000 to $327,400,000.
Of the total held on April 11, $134,200,000, or 56.3 per cent, were sscurad by
U. S, bonds, $2,700,000, or 0,3 per cent, by Victory notes, $134,900,000, or 41,2
per cent, by Treasury notes, and $5,600,000, or 1.7 per cent, by Treasury certificates, compared with $202,900,000, $2,300,000, $165,600,000 and $10,000,000 reported
the week before,
A sumrr~ry of changes in the principal assets and liabilities of the reserve
banks, as compared with a week and a year ago, follows:
Increase
or
Decrease
In millions of dollars
since
.Apr. 4, 192~
Apr. 12, 1922
Total reserves , ..
Gold reserves
'
..
+
+
59.1
72.6
53.4
19.2
Total earning assets • • • • , , , • • . • .
Discounted bills, total , • , • , .• , •
Secured by U, S, Governrr1ent obligations
Other b i 11 s di scoun ted ,
, • . . , . •
Purchased bills
.
. . .. . .
+
+
..
.
••
Federal Baserve notes in circulaticn
F, H. Ban:.:: notes in circulation net liability • • • . . • , . . • . -
r
c.
14.5
f
It
.
+
72.4
+
+
100.0
+
49.1
45.0
+
u6.s
67.7
+
130.3
274.3
gs,s
1.0
United States securities, total ,
,
Bonds and notes • . , ·,
U, S, Certificates of indebtedness
Total deposits • • • . • . .
Members' reserve deposits ,
Gover1n1ent deposits • . . .
Other de?O sits . , . .
11.4
16.3
1.3
.3
176.0
139.1
46,5
+
17.6
29.2
.3
+
+
150.4
9.9
+
30.7
6.6
17.9
79.6
Released for publication Friday morning, .April
RESOURCES
not earlier.
~~ Lil~ILITIES
OF THE TWELVE FEDERAL RBSERVE B.AWl'CS COMBINED
(In thousands of dol..t.aJ. s~
RESOURCES
. ..
Gold and gold certificates .
Gold settlement fund ... F, R. Board
.
.
.•
Gold with Federal Reserve Agents • . .
Gold redemption fund , . •
. . . .. ••
Total gold reserves . . . . • .
• .
Reserves other than gold • . . • . • . . •
' .
Total reserves • •
..
.•
Non-reserve cash • . • . .
...• ..• •
Bills discounted:·
Sec, byU.S. Government obligations • . . .
Other bills discounted
. .. .. .. • .•
Bills bought in open market . • • . . . • .
Total bills on hand • . .
. • .. •
u. s. bonds and notes . . . . . . .
u. s. Certificates of indebtedness • . • . .
Municipal warrants .• • . . .
..• ..•
Total earning assets
... .•
Tot§l__g_oJ9,
~E:llci_2x__Qanks .
;
I
I
I
.. . .
....
.
. . . .. . . . .
.... . • .'
Bank prsmises , • . . • , •
5% Redemption fund against
F. R, Bank notes
' •
Uncollected items
'
All other resources •
•
TOTAL RESOURCES •
L I AB I L I T I E S
..
I
I
'
I
I
. .
.....
... .
Total deEo sits . • .
I
1923
324,630
657,410
982,040
2,041,509
62,.210
3,085,759
98,680
3,184,439
66,258
Apr. 11 .
. . .. .. .
I
•
. .•
•
..
F, R, notes in actual circulation . . . . . .
notes in circulation F. R.
net liability . • . , . .
.•
Deferred availability items
.
. . .. .
All other liabilities
TOTAL LIABILITIES
.
•
I
..
Ratio of total reserves to deposit and
F. R, ~o.te liabilities combined • • .
•
897,039
162 '826
75,328
'41
1,135,234
49,208
191
638,391
13,627
5,087 348
191
621,458
13,434
5,118,000
7,811
546,351
16·, 959
4,902,286
108,683
213,369
108,647
213,369
104,109
215,393
45,218
1,876,414
20,499
1,942,131
2,231,041
74,423
1,894,035
20,143
1,988,606
2,240,951
38,634
1,726,016
38,381
1,803,031
2,200,305
2,472
569,272
15,380
5,037,348
2,433
544,367
14,572
5,118 ,ooo
82,065
477,258
20,120
4,902,286
75.%
77, 7(!/o
...
*Not Sho\vn separately prior to January
w.
.
I
210,656
362,884
93,611
667,151
261,585
251,376
102
1,180,214
)8,928
Banlc
•
4, 1923 Apr ,12 .192g
325,484
326,345
677,216
509,369
1,002,700
835,714
2,091,844
2,013,538
58,180
53,257
3,069,495
2,985,738
126,285
103,522
3,112,023.
3,173,017
66,663
*
Apr
380,785
314,445
259,879
955,109
164,586
74,563
41
1,194,299
48,938
327,412
295,238
274,389
J
. . . ... . . . . .
Capital paid in
• , • +
Surplus , •
• ,
•
'
Deposits:
Government •
Member bank - reserve account
Other deposits ,
~
'
13, 1923;
1923,
Relaasad for publicn.tion Friday morning April 13, 1923;. not earlisr •.
RESOURCES Al'ill LIJI..:JILITIES OF THE F.WERAL RESERVE BANKS AT CLOSE OF BUSilJESS, J..P?IL ll, 1923.
(In thousands of dollars)
RESOURCES
Federal Re::>erve Bank of
Gold and gold certificates
Gold settlement fund - F. R. Board
Total <;: cld. held by banks
Gold ~vith F. R. Agents
Gold redarrlption fund
Total gold reserves
Reserves other than 8'old
Total reserves
Boston
New York
Phila.
Cleve.
17,725
159,620
23,243
12,497
7,619
_5.~_.5LJt~.3.L..59.L.--=.25~4.:..l,~5:...:;42=--..d.3..-!..3.Z..:l6:::;::1~2:...___;6:::;::.6::...z·~0.::,24.:...__.1L_5 70
73,034
163,841
11,533
414,162
56,355 78,521
638,713 158,220 205,787
7.493
8,312 3,l'j(
25,13)
7 •.856
14 0 22
J
4 26 3
t
Chicago St. Louis Minn. Kans.Cy.
5,935 53,193 3,173 7,908
19 , 847 90' 428 12. 669 20 '907
25,782 143,621 15,342
3,048 10,509
35. 328 10.97 6
20,160
40. 145
28,S15, 33,376 21,485
60,)03
223,097 3,035,759
4,451
93,680
136,221 533,5&& 106,626 50,412 96,203 40,216
232,574 3,184,439
5 t 97 2 SJ 820
t
&,317
15,249
19,H:i5
923
6,426
66,253
763
7,412
14,917 19~130
75 17.333
17,613
36,225
37.990
327,412
2S5,233
274.339
21,101 22,404 37,236
91,323
397,039
64,224
229,015
31,376 100,422 54,864
46,983 112,135
U. S. bonds and notes
5,420
U. S. Certificates of indebtedness
4,753
15,506
1,525
12,343 1,341
') ,019
7 J 712
2,001 35, .:~03
Bank premises
5;; Rederrpt ion fund against
F. R, Bank notes
Uncollected items
All other resources
'TOll' PL RESOURCES
c
4,434
55,397
139
979
41
246,046106,334121,789 56,205
11,370
704
3,015
2,617
137.300 53,634 68,1b8 53,561
1,465
399
4,165
2,605 3,114
Total b iUs on hand
74,397
564
932,04o
35,765
2,233 40,124 10,045 3,097
17,067 38,559 13,299 16,007
27,673 33,452 12,057
1,997
Total earning assets
~57 ,410
127 ,)04 523,339 E7 ,461 79,489 92,033
137.336 40,780 28,833 22,340
44,339 14,327 20,035 30,308
46,34o 26,269 51,549 1,716
.Municipal v;arraYlts
Total
324,630
161,421 2,041,509
6,363
62,210
16,821
29,975
17,428
~4,4}3
Dallas San Fran.
13,048
1,232
261,314 1,074,395 223,150 293,437 96,303
3,457
Atlanta
54,034 100,873 371,512 68,SJ70 48,576 51,509
7,26o
1,249 3,206 2,649
2,093 2,153
253,453 1,060,373 223,837 237,465 36,433
11,034
Bills discounted:
Sec~.red by u. S. Govt. obligations
Ot:ner bills discounted
Bills bought in open market
Rich.
St. 3459b
402
403,152 1,431,610 393,223 494,593212,202
503
49,492155,750
2,34o
3,715
35,401
16,402 14,324 33,331
7,437
511 4,575
59,24o
940
25,368 80,3)6 41,700
403
737
330
36,436 60,310
1,149
3.37'9
3,625
49,290
41
119,4451,135,234
49,203
26
24,601
43,204
191
633,391
2,030
4,524
13,627
l,S37
100
14,765 39,727
772
75,326
2,11:;;
4,363
1,312
27 '617
221,326 7j0,34S; 213,774 136,272 2C5,396 122,149
408,292 5,037,343
Released for publication Friday morning, April 13, 1923; not earlier.
RESOURCES .AND LI.AJ3ILITIES OF THE FEDERAL RESERVE BAWlS AT CLOSE OF BUSINESS .APRIL 11, 1923.
L I AB I L I T I E S
Federal Reserve Bank
Capital paid in
Surplus
Depcsi ts:
Government
Member bank - reserve account
Other deposits
To tal depolrl ts
Boston
8,053
16,312
5,413
122,921
433
123,772
F. R. notes in actual circulation 202,916
F. R. Bank notes in circulation net liability
51,430
Deferred availability items
669
All other liabilities
(In thousands of dollars)
Total
New York Phila. Cleve. Rich. Atlanta Chicago St. Louis Minn. Kans. Cy. Dallas San Fran.
103,683
28,940
9,482 11,993
4,133
4,427 15,007
4,638
7.763
5,682
4,925
3,585
218,369
11,283
8,942 30,393
9,488
7,496 15,263
59,300 18,749 23,495
9,665
7,473
2,401
71,539
565
1,960
50,390
709
2,530
79,744
543
1,761
2,126
45,218
52,162 14o,l74 lr876,414
242 3,706
20,499
74,505
53,059
82,372
54,165 146,oo6 1.942,131
32,909 126,035 395,284 80,994 56,534 62,548
29,136 197,494 2,231,041
15,258
3,001
3.178 1,505
691,416 113,066 161,594 61,328
428
11,034
1,193
179
717,708 116,495 165,965 63,012
565,181 198,690 233,270
106,257 48,797 58,555 48 '704
3,724 1,015 1,320
607
3,714 2,316
54, 508 277 '572
259 1,203
53, 11-e1 281 , 091
552
22,627 66,467 42,784 14,64o
8J4 1,550
901
931
1 .~·84
436
43,780 24,933
586 L; 7'.35
40',293
1,468
2,472
569,272
15,380
408,1521,431,610 393,228 494,598 212,202 221,326 790,349 213,774 136,272 205,396 122.11+9 408,292 5,087,348
TOTAL LIABILITIES
Ratio of total reserves to deposit
and F. R. note liabilities
66.2
48 .. 3
72.4
66.0
68.6
combined, per cent
78.8
76.3
67.7
83. 7
73.5
79.6
73.3
Contingent liability on bills
purchased for foreign
correspondents
2,711
F. R. notes outstanding
224,628
F. R. notes held by banks
21,712
F. B. notes in actual circulation 202,916
31,914
3,109
3,904 1,880
1,482
5,025
1,591 1,229 1,555 1,301
2,567
FEDERAL RESERVE NOTES OUTST.ANTIING AND IN ACTUAL CIRCULA'riON
738,7~0 227,388 247,285 91,622 131,249 442,5B7 100,725 6o,242 70,623 32,783 245,180 2,613,072
173,579 28,698 14,015 . ·3, 713
5,214 47,303 19~731
3,658
8,075 3,647 47,686
382,031
5,560
565,181 198,690 233,270 82,909 126,035 395,284 80,994 56,584 62,548 29,136 197,494 2,231,041
DISTRIBUTION OF BILLS, U.. S.. CERTIFICATES OF INDEBTEDNESS AND l\1UNICIP.AL WAP.RA.·~ns BY MATURITIES
Within 15 days 16 to 30 days
31 to 60 days
61 to 90 days
From 91 days
Over 6 months
Total
to 6 months
Bills discounted
433,598
42,008.
73,744
52,691
20,431
178
622,650
:Bills bought in open market
80,670
45,052
67,678
68,045
12,944
274,389
U. S. Certificates of indebtedness
1,534
34
18,275
55,435
75,328
4i
41
Municipal warrants
w.
~eleased
· St. 3459d
for publication Friday morning, .April 13, 1923; not earlier.
F.EDER.AL RESERVE AG:ENTS 1 ACCOUNTS AT CLOSE OF BUSINESS, APRIL 11; 1923•
(In thousands of dollars)
Federal Reserve Agent a\
Boston
New York Phil a.
Cleve.
Rich.
Atlanta Chicago
St.Louis
Minn.
Kans.Cy. Dallas San Fran.
Total
RESOURCES
reieral Reserva notes on hand
Wederal Reserve notes outstanding
}ollateral security for Federal
Reser~e notes outstanding:
Gold and gold certificates
Go1d red.empt i en fund
Gold funi - F.. R. Board
Ellgibla paper .A;:c..c.;u.nt requirad
ExGe:ss a..rnount held
TOTAL
84,700
224,623
318,340 46,200
7 38 J 76o 227,388
30,820
247,285
29,550 77,043
91,622 131,249
25,300
15,541
128,000
7,000
235,531
32,187 16~331
371,000 134,859
13,275
12,512
180,000
3,239
50,795
41,4)8
55.162
14.863.
55,7 37
8 1 43.7
100,042
108.426
69,168
,2 1882
37.~8
2,400
4,973
93,500
30,376
16.221
105,860 26,190
442,587 100,72.5
11,125
6o,242
19' 643
70,623
19,929
32,783
60,985
830,385
245·,180 2, 613,072
11,3~0
13,052
1,524
34,0CO
4,149
47,360
6,4S1
-2,587
'+,o-_o
314,399
16,784
130,285
144,637 1, 596,325
16,868
354,644
3.590
53,500
71,07 5 31,755
41.021
3..262
11,666 19,114 19,735
8.921
3.284
11 a2I2
83,759
1,941
571,563
2<30 .229
542,393 1,904,316 504,858
581,155 227,657 356,092 1,032,071 231,203 140,530 164,173 103,028
559,292 6, 346,768
309,32s 1,057 ,1oo 273,533
278,105 121,172 2o8,292
548,447 126,915
71,367
90,:266
52n12
3o6,-i65 3,443,457
168,841
205,71:37
371,512 68,970
32, 318
48,576 51,:509
20. 287 · 22. 398
1},048
37 • 268
161,421 2,041,.509
91.706
861,802
581,155 227,657 356,0921,032,071 231,203 140,530 164,173 103,028
559,292 6,346,768
LIABILITIES
amount of Federal Reserve
notes received from Couptroller 9f the Currency
~et
o1lateral received from
Federal Reserve Bank:
Gold
Eligible paper
TOTAL
638,718 153,220
54,034 100,873
_.:6~4:-L,..:::::22:::...4=--==2=0.:::..8,_,4:....:9.:::..8---L1.....3.c,0::....5::::.0_....~..TJ....;r.L':2~6J...3____.!2.:;2.L.:4:..L5~1---...:4~6.t..•9!.!:27:L---=.ll, 2, 112
542,393 1,904,316 504,553
c.
..
@FedFRASER