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STAT~ENT
FOR THE PRESS
St.41.85
Federal Reserve Board,
August 14, 1924.
Released for p~lir.ation
Friday morning, Aug. 15;
not earlier,
CONDITION OF FEDERAL RES.ERVE BAl-!KS
The r.onsolidated staterr~nt of r.ondition of the Federal reserve banks on Aug~
ust 13, made public. by the Federal Reserve Board, shows der.reases of $7,400,000 and
$4,100,000, resper.tively, in holdings of discounted bills and of ar.r.eptanr.es purchased in open market, together with an increase of $4,800,000 in Gove:L'nment seC\uri ty holdings 1 resulting in a net reduction of $6,700,000 in total earning assets
for the week. Federal reserve note circulation declined by $4,00C,OOO, while cash
reserves increased by $4,4oo,ooo and deposit liabilities by $5,800,000.
A decrease of $2,800,000 in holdings of discounted bills is reported by the
Federal Reserve Bank of Chicago, the Bicr..rnor. . d bank reports a der.rease of $2,700,000,
and New York a decrease of $2,200 1 000, while Cleveland shows an increase of
$4,100,000, The remaining banks show relatively small r.hanges in holdings of discounted bills, Holdings of paper se,~ured by Government obligations inC'.reased oy
$3,200,000 to $82,000,000. Of the latter arr;ount, $69,100,000 was ser.ured by Liberty
and other U. Sl bonds, $11,800,000 by Treasury notes 1 and $1,000 1000 by certificates
of indebtedness.
Of the total inr.rease of $4,soo,ooo in Government security holdings, $4,ooo.ooo
was in Treasury notes 1 $500,000 in ~onds, and $300,000 in certificates of indebtednes~
An increase of $6,100,000 in Federal reserve note ~irculation is reported by
the Cleveland reserve bank, $2,4oO,OOO by Philadelpr~a, and an increase of $200,000
by the Kansas City bank. These increases were more than offset 1 however, by de~reases a~gregating $12,700t000 shown for the remaining banks, the prin~ipal redur.tions being as follows: Chicago $3,800,000 1 New York $3,200,000, and San Fran~is~o
$2,4oO,OOO. Gold reserves increased by $18,700 1 000, Reserves other than gold declined by $14,300 1000, and Non-reserve r.ash inr.reased by $800,000,
A surrmary of c.hanges in the prinr.ipal assets and liabilities of the reserve
banks during the week and the year ending August 13, 1924, follows:
Inr.reo.se or dec.rease during
. . . . . . - . ..
Total reserves , • • .•
Gold reserves • ,
'
I
Total earning assets . . .
Bills di seounted, total • , • • , , , . ,
Ser.ured by U.S. Government obligations ,
Other bills discounted.•• , , .
. ,
Bills bought in open market
.. .
U, S. Goverrunent ser.uri ties, total
Bonds . . .. . . , . . . . . .
• , ,
, , • . .
Treasury notes • , . . . . . . . . . . •
Certific.ates of indebtedness
• , • , •
Federal Reserve notes in circulation
Total deposits, • , , ,
Members• reserve deposits • ,
Government depo sits · . • • . • .
Other deposits • , • , . . • .
I
w.
••
,
••
• •
,
...
...
Week
+ $4,4oo,ooo
+ 18,700,000
__
Y~ar
+ $38,4oO,OOO
+ 23,500,000
6,700,000
+ 3,200,000
- lo,6oo.ooo
2.38,700,000
5351200 ,coo
298,6oo,ooo
236,700,000
-
4,lOOsOOO
155,200,000
4,800,000
500,000
+
+ 4~000,000
300,000
+
+ 450,500,000
+
5,300.000
+ 338,400,000
+ 106,800,000
4,000,000
479,800,000
7 .~~00,000
+
+ 5:800,000
+ 12,800,000
+ 254,800,000
- 10,100:000
+ 3,100,000
+
..j.
263,100,000
5tOOO,OOO
13,300,000
i
1
'
Released for publicatiO# .Friday morning. August 15, 1924.
RESOURCES AND LIABILITIES
OF THE TWELVE FEDERAl. RESERVE BAi'l{S COMBINED
(In thousands of d.ollars)
g. 13. 1924 AAA• 6.
RESOURCES
Gold with Federal reserve agents • • • • •
Gold redemption fund with U, S. Treasury •
Gold held exclusively against F.R. notes
. Gold settlement fund with F. R. Board ••
Gold and gold certificates held by banks •
Total gold reserves • . • .
. .
Reserves other· than gold
. ..
•
...
•
fJ
•
Total reserves
Non-reserve cash , . • . •
Bills discounted:
Sec. by U. s. Government obligaticns
Otherl bills di$COU.nted •
•
.. . .
Total bills discounted • • . . . .
Bills bought in open market • •
. .••
U. S. Government securities:
Bonds • . • . . . , . , . • .
t
Treasury notes , • . • • . . • .
Certificates of indebtedness
. •
I
Total U. s. Government securitiU
All other earning assets • • • • • . . •
Xotal earning assets • . • .
Rede~tion fund - F, R. Bank notes .•
Uno ollected items • . . .
Bank premises . • . . . . • . . . . .
All other resources • . , . • . , • . ••
5%
..
TOTAL RESOURCES
•
•
I
I
•
LIABILITIES
F. R. notes in actual circulation , , •
F •. R. Bank notes in circulation - net •
Deposits:
Member bank - reserve accOtmt • • , . .
Government . , . . . . . . . •
Other deposits •
Total deposits , . .
1
•
,
•••
Deferred availability items ,
Capital paid in . • .
Surplus . . . . . . .
All other liabilities • . •
TOTAL LIABILITIES
.
.
...
St.
1924
Aug.
41S5a
15. 1923
2,079, 719
57,988
2, 137, 707
634,519
)48,655
3,120,881
2,080, 982
32,157
2,113,139
612,076
419,210
3,144,425
89,012
3.233,437
48,556
2,079,415
35, 799
2,115,214
589,472
421,054
3.125, 740
103,309
3. 229,049
47' 746
81,988
184,211
266,199
18,028
78, 7~6
194,8 2
273.638
22,097
30,118
398,467
111,740
540,325
1,250
825,802
29,634
394.419
111,464
535,517
1,250
832,502
586,953
58,771
31,308
4,784.827
514,880
58,668
4, 712,915
1,752,025
1, 756,014
2,231,815
1.550
2,105,484
24,995
35,023
2,165,502
522,516
111,867
220,915
12,002
2,092,696
35,075
21,885
2, 159,656
452,831
111,493
220,915
12,006
1,850. f€10
30,038
_21,682
1,902,410
594,033
109,886
218,369
18,660
4, 784,827
4, 712,915
5,076, "123
~~._070
-
74.~§_
3,195,067
70,947
380,560
420,879
801,439'
173,189
24,824
6o,o43
4,974
89,641
20
1,064,489
93
679,279
53,664
13,184
5,076, 723
Ratio of total reserves to deposit and
F .. R. note liabilities combined • . •
82.5%
82.5%
77·3%
Contingent liability on bills purchased
for foreign correspondents • • . . , •
31,177
34.816
33,244
c.
r
St.4l85b
Eeleased for publiC'-ation. Friday morning, .August 15, 1924; not earlier.
BESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AS AT CLOSE OF BUSINESS, AUGUST 13, 1924.
RESOURCES
(In thousands of dollars)
Cleve. Bich. Atlanta Olicago St. louis Minn. Kans. Cy. Dallas San Fran. Total
Boston New York Phila.
Federal Eeserve Bank of
Gold wi't;h Federal Reserve .Agents
212,087 620,019 189,728 216,379 51,447 120,336 244,52~ 53,272 53,359 59,694 22,486 232,151 2,080,982
2,684
1,514 2,136 1,633 1,213
32,157
4,270 6,411
1,063
3~001
1,930 4,678
Gold redemption fund with U.S.Treas. 1,624
Gold held exclusivelx against
213,711 624,289 196,139 217,442 54,448 122,266 249,202
F. R. notes
Gold sett1errent fund with F.R.Board 52,202 176,551 35.971 83,812 35,883 14,426 115,341
Gol<? and gold certif. held by banks 19,791 196,506 27,918 18,546 11,149 7,309 75,023
285,704 997,346 260,028 319,800 101,480 144,001 439.566
Total gold reserves
3,181 11,577 12,221
17,514 2,773 4,897
8,922
Reserves other than gold
294,626 1,014,860 262,801 324,697 104,661 155,578 451,787
Total reserves
4,194 6,175
15,081 1,399 2,772 2,183
3,691
Non-reserve cash
'Bills di se'\ountecl:
2,884 7,888
17,473 14,201 16,715 8,188
5,179
Ser.. by U. S. Govt. obligations
26,760
26,133
6,846
24,707
5,879
12,082
6,339
Other bills discounted
11,518
29,555 21,047 22,594 32,895 29,644 34,021
Total bills discounted
862 1,26o
968
921
6,827
2,039
Bills bought in open market
U. S. Government ser.ur~ties:
522 4,870
4,902
749 4,115 1,191
l,04o
Bonds
1,084
54,788
3,030
134,826 25,627 39,756
28,445
Treasury notes
14,928
4,761
12,155
904
352
37,311
8,767
Certificates of indebtedness
60,956 55,373 61,830 24,119 233.364 2,113,139
19,883 8,835 37,665 6,856 24,651
612,076
9,432 9,128
3,163 6,658 34,587 419,210
90,271 73.336 102,658 37,633 292,6o2 3,144,425
12,492 1,845 3,141 6,869
89,012
3,580
102,763 75.181 105,799 44,502 296,182 3,233,437
3,705 1,010 2,.595 2.352
48.556
3,399
612
12,006
2,193
2,375
19,}51 16,9CO
81,988
184,211
17,475 14,013 12,618
19
213
436
21,726 19,093
3,211 1,272
266,199
18,028
6oo 7.735 1,447
11,801 15,241 23,845
2,473
3.979 6,459
1,834 1.113
19,346 4o,678
5.330 14.321
30,118
398,467
111, 74o
3.937
13,538
343
13,670
\
Total U. S. Govt. securities
lll other earning assets
Total earning assets
Unr.ollectecl items
Bank premises
All other resources
TOTAL RESOURCES
w.
38,252
51,809
54,509
4,312
108
177,039 31,137 56,026 5,125 1,958 74.586 14,874 26,955 31,751 26,510 56,112
1,250
213,421 54,355 79,538 38,020 32,464 109,867 32,368 41,181 44,805 51,447 76,477
139.522 53,214 53,118 47,432 24,057 70.,410 30.609 12,527 38,807 23,914 38,834
2,528
2,875 8,264 2,251 2,893 4,595 1,912 2,927
15,975 1,110 9,129
148 5.376 1,282 3.632 4,857
289
307 1,928
507
323
12,551
540,325 .
1,250
825,802
586,953
58,771
31,308
4og,055 1,411,410 373,168 469,627 195,131 221,096 647,010 171,844 138,168 197,883 127,759 422,676 4,784,827
I
I
l.le&sed for
pub1i~ation
Friday morning, August 15. 1924; not earlier.
BESOURCES AND LI.AB!LITI:ES OF THE FEDERAL RESERVE BANKS AT CIDSE OF BUS!!IlESS, AUGUST 13, 1924.
St .. 4185c
LIABILITIES
Feaeral Reserve Barik of
P. ~ notes in actual ~ir('.ulation
iJaposi ts:
Member bank - reserve ~-count
Govel'tllllent
Other deposits
To tal deposits
'Daferred. availability items
· Capi tal_paid in
··tku:plus
';Ill
other liahili ties
MAL LI.tiBlLITIES
(In thousands of dollars)
Cleve.
Boston New York Phila.
Rich. Atlanta Chicago St.. louis tl.i.nn. Kans. Cy. Dallas San Fran. Total
196,392 317,338 171,671206,883 68,556 131,296 231,067 53,053 63,736 63,670 4o,312 203,051 1, 752,025
135,069
1,142
130
857.531 123,020 175.a97 61,841
7,705 1,234 1, 36 1,509
581
992
23,651
198
136,341
51.741
8,006
16,390
185
888,387
113,737
30,103
59,929
1,416
124,835
45,978
10,382
19,927
375
4o.9,055l.,411,410 373,168
llatio of total reserves to deposit
an-d F. R. note liabilities
combined , per ~.ent
84.1
liability on bills
purchased for foreign
COr~espOJ?.dents .
88.6
57 ,.285 303.393 66, l03 43,791 80,814 47,139
1,115 1,305 2,060
824 2,107
1,589
117
349
94o
309 2,793
173
177,825 63,?48 58,517 306,143 68,512 49,924 35,719 43,901
47,626 44,589 16,303 62,853 29,655 12,292 34,016 25.016
12,699 5,869 4,597 15,181
5,064 -3.374 4,383 4.149
23,691 11,672 8,950 30,426 10,072 7,484 9,496
7.577
897
1,433 l,34o
438 1,358
903
1,804
599
469.627195.,131221,096 647,010171,844133,168197,883127,759
84.4
79.2
82.0
84.1
g1.2
66,.1
70.8
149,096 2,105,434
2,469
24,995
4, 785
35,023
156,350 ~2,165,502
38,710
522,516
3,060
111,867
15,301
220,915
1,204
12,002
422,676 4,784,327
82.4
Contin~nt
F. R. notes outstanding
Y. R. Ile?tes held by banks
218,274
21,882
3,065 3,697
1,801 1,390 4,708
n:DERAL RESERVE IDTES OUTSTANDING AND IN
623,745 206,875 226,422 78,216 144,503 249,954
306,4o7 35,204 19,539 9,66o 13,207 18,887
P. R. notes in actual
196,392
317.338 171,671 206,883 68,556 131,296 231,067 58,053 6},736 63,670
cir~lation
8,774
1,548
1,138 1,454 1,201 2,4ol
31,177
ACTUAL CIRCULATION
67,932 67.080 70,95S 46,9}7 248,335 2,249,231
9.879 3,344 7,288 6,625 45,284
497,206
4o,312 203,051
1,752,025
Over 6 months
4o7
Total
266,199
18,028
111 '71«>
DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES
Within 15 days
!ills discounted
'Bills bought in open market
Certificates of indebtedness
...
119,415
7,523 .
16
to
30 days
28,688
4,647
31 to 6o days 61 to 90 days
54,795
2,730
4o,345
1,676
From 91 days
to 6 months
22,549
1,452
99,309
12,431
lleleased for publication Friday morning, August
15, 1924;
not earlier.
FEDERAL RESERVE AGENTS' ACCOUNTS A'il CLOSE OF BUSINESS, AUGUST
13, .1924 ..
(In th~sands of dollars)
Federal Ra serve Agent at
RESOURCES
Federal Reserve notes on hand
Federal Reserve notes outstanding
· Collateral security for. Federal
Reserve notes ontsta~ing:
Gold and gold certificates
Gold redemption fund
Gold fund - F.. R. Board
Eligible paper:
.Amount required
Excess ~~nt held
'l'OTAL
Boston
New York
Phila.
·Cleve.
Rich.
Atlanta Chicago St.Louis Minn.
Kans.Cy. Dallas San Fran.
Total
83,500
218,274
235,120 49,000 52,870 39,410 15,153 225,240 26,100 22,790 31,293 21,437 66,500 928,413
623,745 2o6,S75 226~422 78,216 144,503 249,954 67,932 £7,080 70,958 46,937 248,335 2,249,231
35,300
18,787
158,000
238,531 11,000 8,780
3,500
9,985 13,052
14,556
334,70430,488 11.,339 12,599 3,152 6,836
5,880 3,287
807 4,334 3.430 16,737 117,676
351,000 167,389 195,000 48,295 110,000 238,644 45,000 40,000 55,360 4,500 215,414 1,628,602
5,430 9,660 13,221 11,264 24,451 16,184 163,249
3,726 17,147 10,043 26,769 24,167
6,187
815 J.,53]_. 422 2,525 108,688
7,370
20!~79
2,263 13.501 5,825 6,318 29,716 7,830
527,418 1,513,089 465,013 519,215 201,667 370,477 154.364169.794157,765174,796115,770 565,695 5,535,563
LIABILITIES
1:et amount of Federal Reserve notes
received from Comptroller
of the Currency
301,774
Collateral received from
Federal reserve lnnk:
Gold
Eligible paper
TOTAL
c.
S58,865 255,875 279,292 117,626 219,656 475,194 94,032 89,870 102,251 68,3~ 314,835 3,177,644
212,087 620,019 189,728 216,379 51,447 120,336 244,524 58,272
13,557
}4,205 19,410 23,544 32,594 30,485 35,146 17,490
527,418 1,513,089 465,013 519,215 201,667 370,477 7~,864 169,794
53,859 59,694 22,486 232,151 2,080,982
14,036 12,851 24,910 18,709 276,937
@FedFRASER