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STATEMENT FOR THE PRESS Feder"ll Reserve :SOard, August 9, 1923. CONDITION OF FEDERAL r-ESERVE BANKS A further in~rease of $16.700,000 in holdings of discounted bills, acconpanied with reductions of $5,200,000 in accept:a.nr.eaand of $3,600,000,.in Goverm1ent securities~ is shown in the Federal Reserve Board's weekly conso'lida.ted bank statement issued as at close of \lusiness on August •' 8, 1923, Cash reserves declined by $3,600,000 and deposit liabilities- by $39 1800,000, While Federal reserve note circulation inc:.reased oy $36 ,Goo ,000. The reserve ratio remained un~ha.nged at 77.3 per cent. Larger holdings of disco~mted bills are shown by the Federal Reserve Banks of Boston, New York, Cleveland, Richr10nd, Minneapolis and Ds.llas, the increases in the case of the three b~nks first narr1ed being $7,500,000, $13,500,000, and $7,300~000. respectively, The other si~ banks report decreases totaling $14,500 1 000, the largest decreas.e - by $6,6oO,OOO ~ being shown for San Francisco. i ' Gold reserves inc.reased by approxinJatel~ $.),000,000. Substantial gains, amounting to $15,900,000 G.nd $9,700,000, are shown for the Federal reserve banks of Chicago and San Francisco, The banks at New York: and Clevel:a.nd report decrea.s8A in gold reserve.s. of $24 ~ 600,000 cmd $6, 500 ,ooo. Reserves.-)other than gold decline~ by $6 ,6CO,OOO, more than offsetting the increase in gold holdings ,and non-reserve cash declined by $2,4oO,OOO. All Federal reserve cank:s, excep.t those at Atlantsi, St •. Louis and Minneapolis, report increased Federal reserve note circulation, the d~ cline in the case of these three banks ;unounting to only $600,000. 'The banks a.t New York, Philadelph:i,a and Cltrveland report increases in note circulation of $6,300,000, $9,500,000 and $S,6oo,ooo, respectively. Holdings of paper secured by Goverm1ent obligations increased during the week by $l5,4oO,OOO. Of the total of $397,200,000 held on August 8, $238,100,000 or 59.4) per eent was secured by U. S. bondsj $144,800,000 or 36,5 per cent - by Treasury notes; and $14,300,000 or 3.6 per cent - by certificates of indebtedness, as compared with $237,800,000, $126,500,000, and $17,500.000 reported the week before, bank~ of ~hanges in the principal assets and liabilities of the reserve as compared with a week and a year ago, follows! A summary Total reserves • Gold reserves ' . . .. . . + 7.9 + 16.7 + 15.4 + 1.3 + 70.,0 +44o.9 .. 5.2 + 30.6 3.6 ,g -116.s ... United States securities. total . • . Bonds and notes • . . • U. S. Certifiea.tes of indebtedness Total deposits . . . • . . • Members• reserve deposits ••... Governnent deposits • • . . . Other deposits • • . • . . . .. • f Federal Reserve notes in • .. net liability w, • .. circ~ation F. R. Bank notes in circrulation- ~ Inc:rease or Decrease Inmillions of dollars since A:ug. 1, 1~2i Aug: ~. 1922 - 12.1 3.6 + 4J., 0 + 3.0 Total earning assets . . , • , , Dis~ounted bills, total .••...•. , Secured by U, S. Governrtent obligations. Other bills discounted • . • . • Purchased bills • • • . . I I St. 3636. Released for publi~ation Saturp~y morning, Aug. ll; not earlier, . . . . • • • . . .. 1111 • +161. 5 -4ol.5 2.7 -234.7 - 39.8 + 69.0 + 76.5 - 19.7 ... 5.9 ... 19.5 ., +279.4 .6 + 36.6 1.6 + 77.1 ... 59.0 t ' •. § .. , ··"·. • • • . t Released for pu\.:lica.tion jlur(\'J,.y morning, Aug1;tst U, 1923; not e<:1.rli er. RESOURCES AND Lif~ILITIES OF THE TWELVE FEDERAL RE'3ERVE BANKS COME! NED (In thousands of dollars) Aug. 8, 1923 RESOURCES Gold and gold cer"tific'\tes Gold settlement fund - F, R. Board • Total gold held by banks Gold with Federal Reserve Agents . Total gold reserves • • Reserves other than gold ,, . Total reserves Non-reserve cash • , , . ' .. ... Bills discountad: Sec, by U, s. Governnjent obligations Other bills discounted . , Bills bought in open market .. Total earning assets ' :Bank premises , • . . . . . . . , , • 5% Redemption fund against F. R, :B<:1nk notes • , • . . . . , • Uncollected i terns • • . . • . . , . . . • All other re£ources . • . , . . . L I AB I L I T I E S Capital p::lid in , Surplus . • , ... ' ... ' . fl ... • ~ Government • • . . • Member bankf· - reserve account Other deposits . . . 77,464 J, 190, 120 64,138 • F. R, Bank notes in cir~ulati.on .. net liability , . . . . ..• Deferred availability items • All other liabilities . . • , 34,058 3,193,724 66,492 381,862 424,575 314,391 4tn,333 795,724 2,233,430 . 42,489 3,071,643 130,534 },202, 177 * 117,777 264,3&4 1,000, 511 989,067 82,921 7,i85 33,602 l99 '746 132 )630 9,991 291,965 10 4 1,090,727 53,424 1,032,870 1,020,679 42,504 193 193 578;520 12,982 539 I 877 13,058. 53.360 4,951,537 109,673 21~935 F. R, notes in actual ciroul.tion 3,109~666 Aug. 9, 1922 l46,o03 525,964 1,86o,022 deposits TOTAL LIABILITIES 2,o43,o62 66,725 218,365 Deposits: ~otal 2,040,012 10 · ?o/!unicipal warrants • • • , I 994,579 425,893 177,4o9 Total bills en hand U. S, bond·s and notes • . U. S, Certificates of indebtedness ... 1,010,923 397~209 .. TOTAL RESOURCES . . 344,561 650,313 61,701 3,112,636 Gold redemption fund , , Aug. 1, 1923 664,114 346,809 i ~· .4.,Ji) . . 6,679 522,392 16,449 4,811 '180 109,497 216,369 41,534 1,879,504 105,730 215,398 27 ,8.SO 1, 733,539 22,834 _23,463 1, 904,791 2,224' 353 1,944' 551 2,lo7 1729 1, 571 1'',556 503,543 17 ,396 60,547 424,691 4,9SS.141 4,511,180 47~,2E$ -16,506 24,3c;t~ 1 ,S35,o03 2,147,223 21,788 Ratio of total reserves to deposit and F. R. note liabilities combined . . • 77 •3io 77.3% so.4% Contingent li ~bil! ty on bills purchased for foreign correspondents . • . . . • 331136 33;133 29,363 c. (,_' *l\Tot shown separately prior to Janu!;try 1923. F.ela~s~d fo:...· pl.iblic.::;..tion Satnr.day morning, August 11, 1923; St.3~36b not earlier. RESOURCES liND LIABILITIES OF THE FEDERAL P.:ESERVE BANKS AT CLOSE OF BUSINESS, AUGUST 8, 1923. (In thousands of dollars) RESOURCES Federal Reserve Bank of Gold and gold c-.ertificates Gold settlement fnnd - F, R. Board TotP.l gold held by banks Gold with F. R. Agent '3 G)ld rcdomp~ion fund Tota:1• ,3010 reserves 'lie:serves othe-r than gold 'I'ot.aJ :rese-rves Non-reserve eash Bills discounted~ Secured by U.S.Govt. obligations Other bills discounted ]hlls bought in open market To tal bi Jl s on hand ·, S. bonds and notes ··, 5, Cer~if~cates of indebtedness . Boston New York Phila, 17,254 61,027 78,281 186 '779 12,719 277,779 4,074 231,853 12,626 171,303 150,305 321,613 636,612 8,933 957>213 22 ,ll74 939,637 7,843 20,443 33,453 12,870 66,766 4,324 312 172,663 50,209 37,002 259,874 2,974 3,650 earning assets ank premises 71,4o2 4,434 %Redemption i'dt•..:t. -l_ ~: ~-~ . . ~. ' TOTAL BESOURCES : .. Atlanta 10,423 34,126 44,549 26,4o2 6,231 77,232 2,297 79,529 1,293 6,227 50,712 27.704. 122 ,290 33 931 173,002 96,175 332,290 1,891 7,044 131,997 562,336 4,360 7,722 136,357 570,058 6,332 7,526 J St.Louis 3,980 27,966 31,946 50,579 3,537 36,112 12,856 98,963 5,730 42,392 21,441 19,959 83,792 17,367 14 .. fund against F. R. Bm1k notes collected items , 4.._, ...)ot-.=:!i-•a:. ~~,~~rr. :~ :' 1 other resources 13,565 32,835 96,4oo 207,433 2,357 306,190 4,847 311,037 2,810 Chicago Ri-:-h, Minn. 8,351 21,081 29,432 35.729 2,265 67,426 770 63 . 196 3,ll7 34,732 27,160 6,6oo 28,474 15,793 6,S51 27,330 38,313 34,084 49,913 30,517 22,376 34,283 1,713 f$,886 45.152 1,527 96,4oo 67,191 49.570 123,544 47,342 29,227 216 7,065 7,251 11,345 9,953 1,341 1 249 3,001 10 266,498 101,173 106,602 68,532 49,797 133,610 55,093 41.072 721 9,195 2,617 2,687 s, 715 1,04o 1.625 12,725 ,ln.uicipal warrants ~·otal 28,589 33,506 67,095 166,770 6,332 240,197 7,857 248,054 2,106 Cleve. ~ ~-,.-~: t.1 :,:. (~ ...~,• . . • 4g ,358 • +f~!, ,,. " 3,345 51,338 54,683 37,25? 3,2Cl 95,141 3,252 93,393 4,177 I[' f : \ • 12,344 5,763 15,107 13,370 1,494 32.971 4,851 37,822 2,966 10,066 6,566 30,522 38,616 667 4o,538 45,849 9,620 1,780 53 20,711 4l. ,173 61,334 200,616 5,542 263,042 1,624 269,666 7,012 346,809 664,114 1,010,923 2,04o,Ol2 61,701 3,112,636 77,484 3,190,120 64,138 25,414 397,209 49,114 425,893 15,34o 177,409 89,868 1,000,511 82,921 9,135 7,285 10 50,266 47,629 4,965 1·,947 100 65 ·~i'· Kans,Cy, Dallas San Fran.Total 6E~,-. 23 ,·:.i.• 99,053 1,090,727 53,424 2,753 ..... 37:545 '·-.~ 193 .:~:..~ l•:.\9(:, 539.877 13,053 19,1~' 10 ,5og' 30,519 i~~fi§~; 34,3'73 20,015 326 2,664 3.830 1,148 308 474 132 457 170 1,859 619 571 419,7751,390,358 4o0,750 485,533 201,192 215)359 791,101 191,520 129,319 193.700 113,071 419,859 4,951,537 ~ ~ 49 )328 ,.. 112 ~457 !\~· 55,432 4]4.: 4g, 747 .~ .1.;7<} .,;.. -~!'~ ..;,, .. ,_ . '- (.' Ralan.sad for publication Saturday morning, August n. 1923; not earli0r. RESOURCES .AND LIABILITIES OF TBE FEDERAL J:iESElWE BfJ~(S AT CLOSE Of.' :3USL-.C.:SS AUGUST 3, 1923. L I ABI L I T I E S (In thousands of d. oll;;:.rs) Boston Federal Reserve Bank of 3,1HD 16,312 Capital paid in Su.rplus Deposits: Government Member bank - reserve account Other deposits 29.33 7 9 751 59,300 18,749 J Cleve;. Rich. 12,168 5.714 23,495 11,283 4,416 15,147 3,942 30,398 4,952 9,665 San Fran. Kans. Cy Dallas Atlanta Chicc.go St.Louis !.?inn. 4,1)00 9,488 31528 7,473 4,192 7. 778 7,496 15,263 Total 109,673 218,369 781 1,835 1,477 1,986 21,935 3.995 1,444 1,473 1, 723 1,039 2,198 2,302 690,236 112,581 162,220 58,881 53.343 274,586 70,706 48,007 79,008 43,352 143,649 1,36o,022 . 4,272 424 164 22,834 512 566 1~8 129 l, 745 13,210 326 1,003 707,441 114,421 164,696 60,768 54.511 278,529 73 574 49,300 81,267 45,027 149,907 1,904, 791 504,061 214,366 236,466 78,254 132,209 406,102 71,656 55~008 60, &33 32,9 89 209,412 2, 224 358 1,682 123,453 215 125,350 Total deposits F.R. notes in actual circulation 223,142 F.I:. Bank notes in circulation net 1 iability Def~rred availability items All other liabilities Phil a. New York j J 1,097 474 1,571 46,083 86,079 42,050 47,133 44,146 14,263 57,952 30,577 12,807 36,704 20,834 35,641 474,269 778 3,640 1,413 1,575 1,022 1,018 1,876 1,096 1,203 -~~---=~~--~~--~~~~ 963 2,059 1,658 18,506 419,775 1,390,353 4oo, 750 485,533 201,192 215,359 791,101 191,520 129,319 193,700 113,071 419,359 4,951,537 TOTAL LIABILITIES Ratio of total raserves to deposit:-; and F. R. note liabilities 81-7 combined, per cent 77.5 57.2 73·3 83.3 68.1 75.0 Contingent liability on bills purchased for foreign correspondents 11,469 2,349 3.573 1,723 1,358 4,605 1,45& 1,'126 1,425 1,193 2,352 33,136 FEDERAL F.ESEI:VE NQII'ES OUTST.I\NDING AND IN ACTUAL CIRCULATION F. R. notas outstanding F. n. noLs hald by banks F. R. notes in actual circulation 239,316 16,674 223,142 743;234 233,513 263,721 £6,171 137,3(8 462,493 39,174 59,755 69,300 36,564 249,520 2,676,199 244,223 19,152 27,255 7,917 5,183 56,396 17,518 4,747 9,107 3,575 40,103 451,341 5o4,061 214,366 236,4b6 78,254 132,209 406,102 (1,656 55,008 60,693 32,989 209,412 2,224,358 DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WJ\Bf:ANTS BY MATURITIES 15 days 938,727 51,280 Within Bills discounted Bills b~ht in open market u. S. Certificates of indebtedness 3.~ 16 to 30 da;ys 63,521 33,142 60 days 108,264 49,944 2, 100 .31 to 61 to 90 days i~o6 ~;n~~~s 82,177 30,258 39,417 3,626 27 1,072 Municipal warrants "" 10 c. it_~~-- ~- --- - ----- -~ - ,.. -- _.._ -- Over 6 months 155 124 1 \ Total 323.t,02 177.~03 7,285 10 Released f o r p u b l i c a t i o n Saturday morning, August 11, 1923; not e a r l i e r , S t 3636a FEDERAL RESERVE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS, AUGUST € , 1923, ( i n thousands of d o l l a r s ) Federal Reserve Agent at Boston New York Phi l a . Cleve, Rich. Atlanta Chicago St. Louis Minn. Kans. Cy, Dallas San Fr<21. Tota RESOURCES E E s i E 3 5 £ r * 8 s s u s a s ? i S i ' & o i l =?;*> 1 $ s s a s $ s ?,•% S I 3 6 : ^ ^ g s * g j g j g reserve notes outstanding: ^ >xa TOTAL 1 : E %:°7u 1 : 1 3 & & S ^ I S u & g r . S l ^ ^ 533,011 1,939,250 523,435 594,442 203,112 360,904 1,079,426 212,476 136,974 177,539 113,252 610,019 6,533, 950 L I A B I L I T I E S fet amount of Federal Reserve n o t e s received from Comp- troller of the Currency 329,466 1,061,544 254,2 7 5 295,641 110,841 215,195 573,593 114,064 72,550 99,713 54,133 320,520 3,531,373 C o l l a t e r a l r e c e i v e d from Federal Reserve Bank: Gold Eligible paper T0TAL III 49:534 jg.j* ^^33 523,011 1,939,220 523,455 594,442 203,112 360,904 1,079,426 212,476 136,974 177,539 113,252 610*019 6,533,950
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