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STATEMENr :FOR THE PBESS
Released for publication
Friday morning Apr. 6;
not earlier.
St.3448
Federal Reserve Board,
April 5, 1923.
CONDITION OF FEDERAL RESERVE B.ANI<S
Reductions of $4,800,000 in discounted bills and of $10 1 200,000 in P~ited
States securities, as against an increase of $5,600,000 in purchased acceptances,
accompanied by increases of $12,300,000 in deposit liabilities and of $8,500,000
in Federal reserve note circulation, are Shown in the Federal Reserve Board's
weeldy bank statement, issued as at close of business on April 4, 1923,
Total
cash reserves fell off $3,300,000, though gold reserves show a gain for the week
of $5,700,000~ The reserve ratio shows a decline for the week from 75.5 to 75 per
cent ..
Aggregate net liquidation of $33,800,000 of discounted bills was shown for the
Eoston, New York, Philadelphia, and Cleveland banks, While discount holdings reported by the other reserve banks increased, The New York barik shows also a de•
crease of $6,800,000 in its holdings of purchased acceptances, as against increase~
of about $5,000,000 each in the holdings of the Cleveland and Atlanta ~anks.
Shifting of gold through the gold settlement fund accounts largely for the
changes during the week in the gold reserves of the individual banks., l3oston reports
an 'increase in its gold reserves of $10,500,000, Philadelphia- an increase of
$8;200,000, and St. Louis- an increase of $6,4oo,ooo, while smaller increases,
aggregating $6,400,000 are shown for the New York and Minneapolis banks, A decrease
of $8,200,000 in gold reserves is reported by Cleveland, and decreases of about
$4,ooo,ooo and. $3,900,000 by the Richmond and San Francisco banks.
Holdings of paper secured by Government obligations decreased during the week
from $388,200,000 to $380,800,000. Of the total held on April 4, $202,90o,ooo, or
53·3 per cent, were secured by u. s. bonds, $2,300,000, or 0.6 per cent, by Victory
notes, $165,6oo,ooo, or 43.5 per cent, by Treasury notes, and $lo,ooo,ooo, or 2.6
per cent, by Treasury certificates, COII!Pared with $208,600,000 1 $2 1 500 1000,
$168,400,000 and $8,700,000 held the week before,
A summary of changes in the principal assets and liabilities of the reserve
banks on April 4, 1923, as compared with a week and a year ago, follows:
To tal reserves •
Gold reserves
. . .. . . . . . . . . . . . .
t
•
•
•
•
•
•
•
•
•
•
,
Total- earning assets , , ••• , • • , • • , •
Discounted bills, total • • • • • • , • • •
Secured by U, s. Government obligations
Other bills discounted • , , , ••• , •
Purchased bills • •• , • • •• • • • • • •
+
9.4
4.8
7.5
2.7
+ 70,3
+ 140,6
+
8,2
70.3
'
+
5.6
+ 161,5
United States securities, total • • • • , ,
Bonds and notes • , • • • • , • • • • • •
U, S, Certificates of indebtedness •••
...
...
10,2
7.6
2,6
223,6
62.5
161.1
+ 12.3
+ 22.7
11,0
,6
+
+ 164,4
..
Total deposits , ..
" • ,
Members' reserve ceposi ts
Government deposits • •
Other deposits • • • • •
• •
~
• • '
• • •
• • •
. .. •
.•
•
• . • • •
., ...
•
I
I
i
Federal Reserve notes in circulation ,
F, R, Bank notes in circulation net liability • • • • • • • • . , •
w.
.
Increase
or Decrease
In millions of dollars
since
Iv.lar, 28, 1923
Apr, 5, 1922
... 3.3
+ 63.4
+ 86,3
+ 5.7
• •
• •
• •
• • •
..
•
-
.,
+
8,5
• •
+
.1
.......... "
+ 184,2
+
38.9
19.1
+
42,9
78,6
Released for publication'Friu.ay m0rning 1 .AprJl 6, 1923; not earlier.
OF
E;::;::o:mu::~ Al\lr J:,!AB!tlTIES
THE >TV:'E1}.1J!, T'ED:Slu\L RT~Sj~BYE 1.A:-J?~S CO!viBI11£D
{In t:1ousa.n:ls of \lollar.s)
RESOURCES
Gold and gold certificates • • • • ,
Gold settlement fund - F, R, Board .
. .. .
..
Total gold held by banks
Gold with Federal Reserve Agents
Gold redemption fund , • , •
Total gold reserves . , , . ,
Reserves other than gold ,
..
t
Total reserves
..'
..
•
•
•
•
. .....
...
Non-reserve cash , • • •
'
Bills discounted:
Sec. by u.s. Governrr1ent obligations
Other bills discounted • , ,
Bills bought in open market
.
Total bills on hand
U.
s.
..
'
"
'
.
"
bonds and notes • • , • • • • •
Certificates of indebtedness ••
Municipal warrants • . • • ,
u. s.
...
Total earning assets
Bank premises • • , , • , . . • • .
5% Redemption fund against
F. R. Bank notes • , • • , • , •
Uncollected items ••
All other resources • , • , •
...
..
... ..
TOTAL RESOURCES • ,
f
•
•
•
1923 Anr. 5,.J:922
320:401
325,955
Apr. 4,..1.9_5 .Ma~~'
325,484
61r~~16:
653,7o5
97~
1,002, 700
519,3~
3,069l495
103, 522
3,173,017
66,663
,109
2,034,C99
55.566
3 ,.063 1. 794
112,494
3,176,263
65,615
645,267
2,046,479
91,435
---2, 963,201
126 ,4oo
3,109,601
360.765
314,445
259,879
·____:_..;_..
955 i 10.9
164,566
74,56j
41
1,194,299
48,933
386,236
311,761
_;__
254,251
954 1 270
172,206
77,201
41
1,203,720
46,647
24o,205
364,689
98,379
723,273
227 ,o64
235,696
102
1,186,135
36, 820·
191
2,013~536
53,257
-·---
----~-~·-
___
----
*
191
621,453
131434
5,118,000
5,067,930
7,742
507,566
16,260
4,666,144
106j647
216,369
106,623
213,369
104,005
215,398
74,423
1,894,035
20,143
1,966,606
2,240,951
65,432
1,871,373
19,465
1, 976,270
2,232,432
35,542
1,729,603
39,299
----1,804,444
2,193,072
2,466
544,367
14,572
5,116,000
2,435
515,298
14,453
5.067,930
61,032
443,313
19,830
4,666,144
559)i8l
:l3,~S8
L I AB I L I T I E S
Capital paid in , •• , ,
, • • • • , , .•
Surplus • . . . . . . . . . . . . . . .
. . .
Deposits:
Government
, , • • , . • • • .
Member bank - reserve account . • . • , ,
Other deposits .
...
...
Total deposits . • . • • ,
....
F. R. notes in actual circu1ation
F. R, Bank notes in circulation net liability , , • , • , , , •• ,
Deferred availability i terns
, •
All other liabilities
...
'IOT.AL LIABILITIES
-
..
.
'
.. ..
• •
Ratio of tQtal reserves to deposit and
F. R, note liabilities combined , •
...
*Not shown separately prior to January
w.
75.0%
1923.
77.7%
St. 3448b
Released for publication Friday morning; April 6, 1923; not earlier•
RESOURCES .AND LIABILITIES OF THE FEDERAL RESERVE B.ANKS AT CLOSE OF BUSINESS, .APRIL 4, 1923.
(In thousc:mds of dollars)
R .E S 0 u·R C E S
Federal Reserve Bank of
Gold ard gold certificates
Gold settlement fund '- F.: R. Board
To'~
al gold held by banks
Gold with F. R• .Agont~
Gold redemption fund
Total gold reserves
Reserves other than gold
Total res3rves
Boston New York
l6o,860
17,645
262 1 392
'51i099
Phila.
22,941
4o;o:z6
Cleve.
12,933
12.28g
Rich ..
Atlanta
5,856
7,339
lb 1 201 24 1 822
74,744
63,017
85,272
23,896
Chicago St. L()uis Minn. Kans.Cy. Dallas San Fran.
Total
10,760 1~,981
3,124
3,028
325,484
7,847
53,070
8}. 792- 19.4~6 22.241 221 3'50
611.216
1,149 35a86z
30,711 136,862
22,620
30,083
35,378
20,509
55,848
1,002, 700
55,569 101,397 352,089
1 1 460
}z168
h191
62,451
2a112
46,159
1.891
52,308
1,861
12,703 164,130
1,269
21 194
2,013,538
23.221
255;871 1,071,944 222,252 291,755 86,256 133,568 492,719
8 1 424 16,2~2
14.0}2
6,811 : 101228
8.924
2.389
8 7, 786
89,553
4.186
34,481225,172
19.}19
78,138
'538
4.114
3,069,495
10}.522
96,484 141,992 509,314 107,105
78,726
93,739
38,763 229,886
3,173,017
5,319
1,333
},32.9
3, 794
7.751
66,663
57,884 10,676
54,318 17,352
:22 1 696 12a422
3,572
16,894
2.212
12,514
15,643
222
741
18,792
20 1 130
22,901
34,017
40.I23
380,785
314,445
2291819._
40,483
22,741
28,382
39,663
97,671
955,109
27,617'
164;586
171,36 7
9a6o
423,755
633,9o4 151,134 205,327
8.101
1.126
9a282
264,825 1,085,976 227,641 298,566
12,163
9,383
Bills discounted:
Secured by U.S.Govt. obligations
Other bills discounted
Bills bought in open market
19,670
27,684
11 1 062
165,668
44,j35
Z7.462
41,328 21,613
13,682 17' 118
25 1 169 21. '506
21,053
31,010
1 1026
2,665
18,000
26 1 111
64,419
238,065
58,679
90.237
5},089
46,782 144,398
bonds and notes
5,374
17,446
24,438
12,355
1~341
Certificates of indebtedness
4, 763
1,380
979
41
b,991
Total bills on hand
U~
U~
s.
s.
~Jnicipal
warrants
Total earning assets
Bank premises
5% Redemption fund against
F. R. Bank notes
Uncollected items
.All other rasourcas
TOTAL RESOURCES
c
74,556
4,434
3,235
4,2)9 . 2,858
Non-reserve cash
6,343
5,891
4i282
541
7,717
16,432
14,615
33,331
3,379
2,001
35,791
7,433
520
4,575
8,125
74,563
41
256,391 114,137 111,583
634
11,370
7,900
54,430
2,617
49 , 324 183' 4o6
2,330
8, 715
64,353
940
37 ,8]6
1,072
65
66,288
4,831
51,167 125,288
2,108
1,937
100
26
1,194,299
48,938
191
55,617
134,664
56,662
66,921
51,242
22,726
87,829
36,910
14,699
37' 594
21,038
35,556
621,458
129
1,342
384
465
558
412
758
309
1, 798
730·
2,056
4,493
13,434
113,781 4o5,082
5,118,000
411,724 1,499,631 4o2,793 489,644 203,189 223,627 800,978 214,936 136,oo4 206,611
!F."
~
.-·':·at,.,- .__
..
/
,u:n. ...
~eleased
for publication Friday morning. April 6, 1923; 'not earlier.
Federal Reserve Bank
Capital paid in
Surplus
• .:
St.3448c
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSEOFBUSINESS .APRIL 4, 1923.
LIABILITIES
{In thousands of dollars)
Boston New York Phil a. Cleve .. Rich. Atlanta Chicago St.Louis Ivli nn. Kans. Cy. Dallas San Fran. Total
28,915 9,481 11,974 5,682 4,427 15,032 4,915 3,583 4,637
8,053
4,183 7,765 108,647
16,312
59,800 18,749 23,495 11,288 8,942 30,398 9,665 7.473 9,488
7,496 15,263 218,369
Deposits:
Government
Member bank - reserve account
Other deposits
6,678
123,450
346
33,686 3,6o7
5,708 1,112 5,162 5,448 3,275 2,013 2,205 2,634 2,895
74,423
689,544 118,746 164,026 6o,262 55,948 280,477 75,426 50,056 84,920 50,455 l4o,725 1,894,035
l0,6o7
141
530 1,152
158 1,172
246 3,779
20,148
689
776
552
733,837 122,883 170,886 61,515 61,268 287,097 79,253 52,845 87 ,iH4 53.335 147,399 1,988,606
574,4oo 199,270 225,773 83,662 126,6~7 395.330 82,465 57,0b9 62,719 29,449 199,170 2,24o,95l
Total deposits
130,474
F. R. notes in actual circulation 204,987
F. R•.-J3ank: notes in circulation net liability
535
1 J 507
446
2,488
Deferred availability items
51,258
99,596 51,451 56,264 45,436 21,547 70,872 37,763 14,108 39,868 22,101 34,103
544,367
.All other liabilities
64o
3,083
959 1,252
6o6
786 1,714
875
926
578 1,771 1,382
14~572
TOTAL LIABILITIES
411,7241,499,631 4o2,793 489,644 208,189 223,627 800,978 214,936 i36,oo4 206,611 118,781 4o5,082 5,118,0oo
Ratio of total reserves to deposit
and F. R. note liabill ties
combined, per cent
78.9
83.0
75.3 66.5
46,8
66.2
74.6
75.6
71.6
62.3
66 .. 3
75.0
Contingent liability on bills
purchased for foreign
correspondents
2,514
10,270
3,109
3,904
1,880
1,482
5,025
1,591
1,229
1,555
36,427
FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION
F. R. notes outstanding
F. R. notes held by banks
225,454
20,467
744,377 226,301 244,525 92,758 130,858 443,364100,156 6o,025
169,977 27,031 18,752 9,096 4,201 48,034 17,691 2,956
70,945 32,827 247,109 2,618,699
8,226 3,378 47,939 377,748 .
F. R. notes in actual circulation 204,987
574,4oo 199,270 225,773 83,662 126,657 395,330 82,465 57,069 62,719 29,449 199,170 2,240,951
DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS BY MATURITIES
91 days
Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days From
Over 6 months
Total
to 6 months
Bills discounted
493.438
41
55,447
20,004
47,394
695,230
78,906
Bills bought in open market
60,~62
70,003
14,342 .
259,879
53.095
61,977
U. S. Certificates of indebtedness
1,449
18,671
74,563
582
5J,f36a:
MUnicipal warrants
41
41
---·----
- .-
-·--~"""-·---------~-
APRIL
4, 1923.
(In thousands of dollars)
Federal
Ee~e
Agent at
Boston
New York Phila;
Cleve.
·Bi.ch.
Atlanta
Chicago
St.Louis
Minn.
Kans. Gy. Dallas San Fran..
Total:
RESOURCES
c
Federal Reserve notes on hand
Federal Reserve notes outstanding
Collateral security for Federal
Reserve notes outstanding:
Gold and gold certificates
' -Gold redemption fund
GoJ.d fund - F. R. :Board
Eli-gible paper lmoUllt required
E~ss amount held
. 86,4oo
225,454
318,34o 44,800 32,020 27,990 77,458
744,377 226,301 2~5 92,758 130,858
102,460 27 ,24o 10,805 19,760 20,539 60,985
443,364 100,156 60,025 70,945 32,827 247,109
25,300
18,067
128,000
2,4oo
235.531 7,000 13,275
32,373 13,245 12,052 1,774 5.997
371,000 130,889 180,000 53,795 93,000
11,880 13,052
15,445 4,071 1,107 2,948
336,644 46,500 32,000 49,36o
541)67
10,332
105,473 75,167 39,198 37,189 29,461
109,447 1,436 44,126 14,686 17,302
&28, 797
2.,618,6~9
6 ,461
.314,899
2,242 18,761 128,082
4,000 145,369 1',570,557
91,275 37,705 13,866 18,637 20,124 82,979
53,623 2,776 8,395 9,745 19,378 14,571
6o5.l6~
305,817
:
TOTAL.
.
'(
..
547 ,64o 1,916,541 498,838 565,196 228,192 356,476 1-,o~~~n~.23o,328 139,250 171,395 105,511- 569".~;.6,,;3~,ol2
LIABILITIES
.Bet amount of Federal Reserve
.notes received fro::n Comp- troller of the Currency
Collateral.received from
Federal Reserve ~:
Gold
Eligible paper
TOTAL
171,367
64,419
638,904 151,134 205,327 55,569 101,397
214,920 76,603 83,324 51,875 46,763
352,089 62,451 46,159 52,308 12,703 164,130 2,013,538
144,898 4o,481 22,261 28,382 39.502 97.550 910,978
547,64o 1,916,541 498,838 565,196 228,192 356,4761,042,811 230,328139,250 171,395 105.571 569,774 6,372,012
·w.
---
_ __ ________
.........-.._
.
@FedFRASER