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1 .. .STATEi\1ENT FOR THE PRESS Released for publication Fridav morning, April 4i not earlier. Federal Reserve Board, April 3, 19 24. CONDITION OF FEDERAL RESERVE BANKS ) .. The consolidated statement of cond itiori of the Federal reserve banks on April 2, 1924, made public by the Federal Reserve Board shows increases of $47 ,~00,000 in holdings of discounted. bills, of $11,300,000 in acceptances pur~hased m o~en mar~et, and of $7,6o0,000 in Government securities. This increase of $66,300,000 1n earnu1g assets was accompanied with a decline of $31,700,000,in cash reserves, an increase of $4,6oo,ooo in Federal reserve note circulation, and an increase of $55,200,000 in d.eposit liabilities, $34,6oO,OOO of the last amount representing the increase in Government deposits. Every Federal reserve bank shows larger holdings of discounted bills than the week before. The New York bank reports an increase of $17,500,000, Chicago of $9,400,000, Philadelphia of $4,900,000, and Atlanta of $3,100,000. Of the total increase of $47,300,000 in holdings of discounted bills, $24,400,000 represents the increase in paper secured by·U. s. Government obligations, which on April 2 aggregated $239,100,000. 0£ this ·amount, $144,6oo,OOO was secured. by Liberty and other U. s. bonds, $85,100,000 by Treasury notes, and $9,400,000 by certificates of indebtedness. Holdings of acceptances purchased in open market increased by $11,300,000, an increase of $15,900,000 reported by the New York bank being partly offset by moderate reductions shown for most of the other reserve banks. A net increase of $7,600,000 in Governrrent security holdings is reported for the week, holdings of Treasury not~s having increased by $8,200,000, while holdings of bonds and Treasury certificates declined by $600,000 • • Increases. iil Federal reserve note circulation of $5,200,000 and $3,500,000, respectively, are· reported by the Philadelphia and Boston reserve banks, Cl~veland reports a decline ·of $4,700,000 and. Chicago a decline of $4,600,000, while the remaining banks show relatively smaller changes in note circulation. Gold reserves declined by $31,200,000, the New York bank reporting a net loss of $26,400,000. Reserves other than gold. declined by $500,000, and non-reserve cash by $4,500,000, A summary .of changes in the principal assets and liabilities of the reserve banks during the week and the year ending' April 2, 1924, follows: Increase or decrease during - Total reserves . . Gold reserves • , . .... Total earning assets • • • . . . . , • Bills discounted, total • . . . , . . . • Secured by U. S, Govarnment obligations Other bills discounted • . • • . • Bills bought in open market U.. S. Government S;3CUrities, total • , BOildS . . .. .. .... . , . . • , . • • • • • • Treasury notes • • . . . . • • • • . Certificates of indebtedness . • . . .. 'I 1 c. ... .. .. Year - $31,700,000 31,200,000 + $18,300,000 + 22,300,000 + 66,3oo,ooo + ' 47,300,000 + 24,4oo,ooo + 22,900,000 - 1s6,ooo,ooo - 165,6·00' 000 - 141, 70o,ooo 23,900,000 + 11,300,000 - + 7,600,000 500,000 s,2oo,ooo 100,000 + 25,700,000 - 11,000,000 + 49,6oo,ooo· - 12,900,000 4,600,000 - 253,700.000 , + Federal Reserve notes in circulation Total deposits • • . • • . • Members 1 reserve deposits Gover.nmoot deposits • Other deposits . . • . . . Week . . .. ... + + 55, 200,0CO + 20,700,000 + 34, 6oo, ooo 100, oco + + + 46,100,000 73,800,000 39,100,000 35,400,000 700,000 1 Released :for publication Friday m-orning~· April 4, 1924. OF THE , I I I I l • RESOURCES AND LIABILITIES FEDERAL RESERVE BAlfKS COMBINED '~TWELVE (In thousa,nds of dollars) Apr. 2. 1924 I I) I St·. ·~4007a. · RE S 0 UR CE S Gold with Federal reserve agents • . • , Gold redemption fund with U.S. Treasury Gold held exclusively_ggainst F.R.notes Gold settlement fund with F. R. Board • Gold and gold certificates held by banks Total gold reserves . . Reserves other than gold Total reserves Non-reserve cash . . . . . . . . . Bills discounted: Sec. by U. S. Government obligations Other bills discounted . . . .. Total bills discounted Bi~ls bought in open market U. S. Government securities: Bonds . . . . . . . . . . . . Treasury notes • . . . . . . Certificates of indebtedness . . . Total U. S. Government secnrities · All other earning assets • . . • . . . Total earnin~ a~ . . 5% Redemption fund - F. R. Bank Uncollected items • • Bank premises • . . . . . . • • All other resources . • . . • • . . • . notes . • . TOTAL RESOURCES 1,974, 624 50,533 2,025,157 709,581 357' 029 ---- Mar. 26, 1924 2,082, 659 56,945 2,139,604 6o5,918 377,422 3,122,944 _hE!. 4, 192j 2,013,538 _ _51_g_5_L 2,066,795 677,216 325,484 3,091,767 - 99,564 3,191,331 46,599 __!C0,107 3,223,051 51,054 2j9,C63 290,597 214,656 267,659 380,785 _314,445 529,660 213, 772 482,315 202,458 695,230 259,879 18,331 184,887 61,637 18,801 176, 701+ 61,751 *135,256 74,5§1._ 264,855 257,256 51 942,080 28 557,304 55,o64 51 1,008,}38 213 586,085 55,876 21,398 4,909,655 _21,48? 4,850,86 7 1, 987,262 1,9S2, 706 374 382 1,933,113 109,838 191413 1, 912,411 75. 191 ~,51~ 2,062,364 2,007,116 513,762 j,O&:J ,495 - 103,522 3,173,017 66,663 29' 3}0 239,149 41_ 1,194,299 191 621,458 48,938 13,434 5,118,000 L I AB I L I T I E S F. R. notes in actual circulation F. R. Bank notes in circulation - net . Deposits; Member bank - reserve account Government . . . Other deposits . Total deposits Deferred availability items Capital paid in . • . . . . . Surplus· . • • • . . . . . . . . . . . All other 1 iabili ties • . • • • . . . . TOTAL LIABILITIES . • 513,46) 110,859 220,915 14,418 220,915 ___2,152_ 4,909, 655 4,850,867 Ratio of total reserves to deposit and F. R. note liabilities combined • • . 78.8% Contingent liability on bills purchased for foreign correspondents . • . . . 11,230 c. 2, 24o,951 2,488 1,894,035 74 , 42~ ~ _ _ _!_ _ 1~~8_ 20 1,935, 6o6 110~831 544,367 108,64 7 218) 369 14,572 ----·5,1181 coo 11,033 *Including Viet ory notes. 36,427 St. 4007b. Released for publ' ,::c,: icn on Friday r.:Jorning, April 4, 1924; not earlier. RESOURCES .AND LIABILITIES OF THE FEDERAL RESERVE BANKS AS AT CLOSE. OF BUSINESS, APRIL 2, 1924. RE S 0 URCE S (In thousands of dollars) Boston New York Phil a. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total Federal Reserve Bank of Gold with Federal Reserve Agents 190,195 535,836 179,009 203,372 43,094 100,993 320,502 63,006 58,493 55,085 18,143 206,391 1,974,624 50,533 1,907 3,943 5,420 3,504 Gold redemption fund with U.S.Treas. 2,530 9,196 6,016 2,460~,723 3,207 5,090 2, 537 Gold held exclusively against 195,615 545,032 _E.L.]h_notes 71,462 Gold settlement fund with F.R.Board 217,049 166,501 Gold and gold cert if. held by banks 17 '998 · Total gold reserves 255,075 9 23 1 58 2 Reserves other than gold 27,105 8 '128 Total reserves Non-reserve cash :Bills discounted: Sec, by U. S. Govt. obligations Other bills discounted 29·3,203 },403 13,412 11,988 25,400 Tot a.l bills dis counted Bills bought in open market 18 '710 u.. S. Government securities: I I t f 't Bonds notes Certificates of indebtedness ~reasury 542 15,08 3 _5,912. 47,817 104,200 325,592 65,543 61,023 58,589, 20,055 210,834 2,025,157 709,581 33,252 13,019 117,142 17,999 13,993 41,867 10,469 38,864 23,658 357,029 5,846 3,521 12,512 6,457 9,433 7,594 50,996 268 1 74 7 309 t 08 8 86,915 124,813 493,730 89,999 84,449 103,977 43,036 273,356 3,091,767 4,108 6,238 99,564 4,449 4,C03 7, 764 2,849 10,849 9 ,82~_13, 446 797 185,025 205,832 43,363 91,102 4o, 359 12,154 955,687 272,750 316,852 89,764 135,662 503,553 103,445 2,047 4,110 . 2,330 3,848 10,539 4,578 5,723 85,246 108,426 49, 271~ 277,464 3, 191,331 4,056 46,599 2,706 . 2, 716 538 24,389 18,119 18,479 39,316 9. 533 38,629 26,802 42,385 10,936 25,285 2,005 11,693 2,260 18,846 517 9,273 12,460 38,369 239,063 290,597 111,362 43,6o2 42,508 48,162 69 J 187 36,221 13,698 21,106 9, 790 50,829 529,660 . 8, 785 31,259 5,806 7,045 8,331 26,130 15,476 213,772 87,968 30,302 23,394. 13,300 55,160 14,669 19,913 57' 795 2,488 1,202 37,508 15,694 549 20,321 2,112 918 22,463 7,590 1,191 2, 703 1,231 100 3, 726 1,482 4,426 25,211 10,433 4,857 2,047 7,239 5, 226 3,351 382 10,856 3,381 2 1, 780 15,214 21, 719 5,288 3,116 18,331 184,887 61,637 22,982 51 30,971 5,125 5,308 40,070 6,904 15,816 14,619 20,110 264,855 51 65,408 62,255 140,516 48,931 36,559 44,056 11,244 2,492 5,890 31,001 4,595 823 56,030 93,314 1,008,}38 28 28 21,564 37,296 586,085 2,806 1,911 55,876 4,823 4,227 21,398 j· t ~t. t f I i v.k t 'Total U. S. Govt. securities All other earning assets 21,537 54,404 Total earning assets 5% Redemption fund- F.R.Bank notes Uncollected items .:Bank premises All other resources 65,647 220,926 81,304 93,392 561474 4,312 84 130,553 14,3 75 3,023 57, 790 56,457 48,259 24,088 1,113 267 9,117 284 2,528 406 2,702 898 81,073 30,286 8,264 1,661 520 153 423,128 1,335,10} 415,271480,212 208,695 231,}28 738,503 188,324 141,969 191,607 136,}46 419,163 4,909,655 TOTAL RESOL"RCES c. Digitized :~~·: .for FRASER http://fraser.stlouisfed.org/ ~·: ·~. Reserve Bank of St. Louis Federal 27,009 ~ ~ . rL,,.N.""'-"&· ·.><• •./, t Released lA .=t .. ;::tfflt'l<. . .'fi, for publication Friday morning, April 4, 1924; not earlier. t St. lto07c RESQJRCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, APRIL ·2, 1924. LIABILITIES t (In thousands of d.ollars) rt Fede~al Reserve Bank of Boston · P.R. notes in actual circulation 207' 779 , F.R. Batik notes in circulation - net · Deposits:: Member bank - reserve account 126,532 Govermnent 10,505 Cthe!' d.eposits 194 -137,231 Total deposits ; Deferred availability i terns Capital paid in Surplus All ot~1er liabilities 53,437 7,915 16,390 376 TOTAL LIABILI?IZS 423,128 New York Phil a. Cleve. Rich. Atlanta Chicago St.Lc:uis Minri. Kans.Cy. Dallas San Fran. Total 365,515 206,443 222,583 82,804 135,894 319,450 67,851 67,256 ;.. 738,874 117,537 157,588 59,974 23,497 9,017 12,875 2,876 10,548 314 87 98~ 772,919 126,868 171,443 62,937 !04, 778 51,303 48,896 44,491 29.793 10,151 12,482 5,841 59.929 19,927 23,691 11 t 672 2,169 1,117 579 950 1,335,103 415,271 450,212 208,695 63 •.8-12 43,860 204,015 1,987,262 374 374 56,384 280,822 71,905 49,016 75,236 53,989 5,553 27,066 2,495 1,516 6,434 1,911 166 1,155 675 384 349 435 62,103 309 ,04j f>,075 50,916 82,105 56, 249 18,408 62,8 73 29,582 l l ,696 31,049 21,953 4,515 15,078 5,068 3,446 4,500 4,185 8,950 30,~26 10,072 7,484 9,496 7.577 1,458 1,639 676 1,171 2,148 645 231,328 738~509 188,324 141,969 191,607 136,346 145,256 1,933,113 6,093 109 t 838 4,126 19,413 155.4 75 2, 062, 3b4 34,997 513,463 7,885 110,859 15,301 220,915 14,418 1 t l¥:10 419,163 4,909,655 latio of total reserves to deposit and F. R. note liabilities combined, per cent 81.8 80.4 61.6 80.1 72.4 78.8 77-2 Contin~ent liability on bills purchased for foreign correspondents 3,511 1,274 621 479 1,622 533 392 501 827 11,230 FEDERAL RESERVE NOTES CUTSTANDING .AND IN ACTUAL CIRCULATICN ~ F. R. notes cutst anding '·: J'. P. notes held by banks 223,982 16,203 P. notes in actual circulation 207,179 651,466 228,717 245,694 91,823 149,635 3491589 82,266 71,589 76,059 285,951 22,274 23,111 9,019 13t741 301139 14,415 4,333 12,247 365,515 206,443 222,583 82,804 135,894 319,450 67,851 67,256 63,812 47,785 254,555 2,473,16o 3,925 50.54o 485,898 43,860 204,015 1,987,262 DISTRIBUTION OF BILLS, U. S, CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS BY MATURITIES Within 15 days 16 to 30 days 31 to 60 Oat)'S 61 to 90 days From 91 days Over 6 months Total · to 6 months ·. JHUs discounted Bills bought in open market 328,040 107,651 l,o4o ·: U, S. Certificates of indebtedness Municipal warrants ;. c. --~~--- 1,056 69,120 44,359 58,382 20,890 9,269 51 21,420 1,551 196 5,891 51,1)2 529, 66o 213,772 61,637 51 ,._., c~ -- 46,S07 39,321 - •--- - ~- ·-- ----·--~...1 Released for publication Frid~· morning, April ~. 1924i not earlier. St. 4007d. FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, APRIL 2, 1924. (In thousands of dollars) Federal Reserve Agent at Boston New York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total RES 0 U R C.E S Federal Reserve notes an h~d Federal Reserve notes outstanding Collateral security for Federal Resarve notes m1tsta.-·1ding: Gold and gold cert ificatc;s Gold redemption fund Gold fund - F. R. Board Eligible paper Amount required Excess ~~ount held TOTAL . 110,100 223,982 282,060 46,920 49,090 38,190 7S,937183,780 27,300 18,135 29,643 29,927 81,520 975,602 651,466 228,717 245,694 91,823 149,635 349,589 82,266 71,589 76,059 47,785 254,555 2,473,16C 35,300 11,895 14},000 2, 400 238,531 14,000 8, 780 9,935 13,052 31,305 14,620 12,592 1,799 7,593 6,857 4,021 1,441 4, 725 266,000 150,389 182,000 41,295 91,000 313,645 49,000 44,000 50,360 7, 681 329,729 2,967 13,9C9 113, 724 7,500 192,982 1,531,171 33,787 115,630 49,708 42,322 48,729 4E~642 29,08 7 19,260 13,096 20,974 29,637 4.7, 664 493,536 10,323 37,367 1,556 18, 701 10 ,_926 7,158 71,039 20,566 6,860 7,992 5,706 17,410 2~?,65~ 563,387 1,622,359 505,910 559,179 232,762 385,365 954,047 212,398 168,173 189,753 131,203 608,040 6,137,576 LIABILITIES Net amount of Federal Reserve notes received from Comptroller of the Currency 334,082 Collateral received from Federal reserve bank: Gold Eligible paper TOTAL c. 933,526 275,637 294,784 130,013 228,572 533,369 109,566 89,724 105,702 77,712 336,075 3,448,762 190,195 535,336 179, OC9 203,372 43,094 100,993 320,502 63,006 53,493 55,085 18,148 206,891 11 974,624 44,110 152,997 51,264 61,023 59,655 55,300 100,176 39,826 19,956 28,966 35,343 65,074 714,190 568,3871,622,359 505,910 559,179 232,762 335,365 954,047 212,398 168,173 189,753 131,203 6o3,o4o 6,137,576
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