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STATEMENT FOR THE PRESS St. 3645 Federal Reserve Boar~, August 16, 1923. Released fer publication· Friday morning, .August 17; not earlier. CONDITION OF FEDERAL RESERVE BANKS. Aggregate declines of $21, 700,000 in the holdings of discounted bills, of $4,200, COO in· acceptances purchased in open market'· and of $400,000 in Government securities, are shown in the Federal Reserve Boe.rd 1 s weekly consolidated bank statement issued as at close of ~asiness on August 15, 1923. Cash reserves in~ creased by $1-l-,900,000 and Federal reserve note circulation - by $7,500,000, while deposit liabilities show a reduc.tion of $2,400,000. The reserve ratio remained unchanged at 77.3 per c.ent, as shown i.n the August 1 and 8 statements. Smaller holdings of discounted bills are shown for five of the reserve banks, aggregate reductions of $34,500,000 being partially offset by increases totaling $12s800,000 at the seven other banks.. The Federal reserve banks of New York a:nd Chicago show the largest declines in discount holdings by $27,200,000 and $2,900,000, respectively, while those at St. Louis and Richmond report the most substantial increases, amounting respectively to $5,100,000 m:1d $1,900,000. A net increase of $8,200,000 is shown in total gold reserves, the banks at Philac!J1phia, Chicago, and San Francisco~ with net increases of $6,700,000; $4,800,000 and $8,500,000, a.cc01:mtlng for most of the increase. Six reserve banks report net reductions in gold reserves for the week, most of the decline being shown for the Fede:r.al Reserve Banks of Cleveland, Atlanta,. and St. Louis. Reserves other than gold declined by $3,300,000, while non-reserve cash increased by $6' 800 •. ooo. Increased Federal reserve note circulation is reported b,y eight reserve bankS, the largest increases,amounting to $4,600,000 and $3,200,000, being sheVlin for the Philadelphia and Cleveland banks. The New York bank reports a decline in its note circulation of $7,100,000. Holdings of paper secured by Government obligations declined during the week by $16,6oo,ooo. Of the total of $360,600,000 held on August 15, $251,100,000, ~ 66 per cent, was secured by U. S. bonds; ~11~,500,000, or 30.1 per cent, - by Treasury notes; and $14,900,000, or 3-9 per cent, ... by certificates. of indebtedness, as COIZ!Pared with $238,100,000, $144,800,000 and $14,)00,000 :r.eported· the week be~ore. A summary of changes in the principal assets and liabilities of the reserve banks, as compared with a week and a year ago, follows: Total reserves . • . Gold reserves . - Increase or Decrease. In milliops of dollars since Aug. S, 1921 Aug. 9. 1926 + 4.9 2.8 + 8.2 + 54.4 . " Total earning assets . Discounted bills, total • , Secured b,y U.S. Government obligat:i ons Other bills discounted • • Purchased bills .. . • t • ... .. United States securities, total . • •• Bonds and notes . • • • • • • • • U. S. Certificates of indebtedness • • • • .. + 43.8 +419 .o +255-1 +163,9 ~.2 + 23.6 .4 + 1.9 2.3 -398.8 -118.1 -280.7 -- Total deposits . . • • • . • Members' reserve deposits Government deposits Other deposits . • . . . . . ' ' Federal Reserve notes in circulation • . . F. R. Bank notes in circulation net liability • . . . . . • . . - 26.2 ... 21.6 - 16.6 5-0 2.~ 9.3 + 8.1 1.2 + 55-5 + 60,5 2.9 2.1 + 7-5 + 89.5 - - - 56.6 \';;,. . . •. Il.eleased for publication Friday morning, August 17, 1923; not earlier. RESOlffiCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE :G.ANKS COMBINED: (In thousands of dolb.rs) Aug. 15, 1923 RESOURCES Gold and gold certificates • • , • • . •• Gold settlement fund - F.R. Board • • . . Total gold held by ba.Ifks • . • Gold with Federal Reserve Agents • , Gold rederr
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