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r,LAI!ii-.ili!ifli'IL:Sihli¥·¢.t., . e; .. t: ' 'p, STATEMENT FOR THE PRESS I ~ Released for publication Friday morning, Aug. 24; not earlier. St. 3657. Federal Reserve Board, August 23, 1923. OONDI TION OF FEDERAL RESERVE 'BANKS I Continued declinesin the :p6ldings of discounted bills and Government sel~urities by $20,800,000 and $5,100,000, respectively, as against an increase of $3,400,000 in acceptances purchased in open market, are shown in the Federal Reserve Board 1 s weekly consolidated bank statement issued as at close of business on August 22, 1923. Deposit liabilities show a reduction of $20,500,000 and Federal reserve note circulation- a reduction of $6,800,000, while cash reserves inr.re·~sed by $6,300,000. Tbe reserve ratio rose from 77.3 to 71.9 per cent. Fiva of the reserve banks report smaller holdings of di sr.ounted bills, the largest declines, by $28,200,000 and $8,200,000, respectively, being shown for the New York and Cleveland banks. An increase of $8,200,000 is reported by Boston and an increase of $6,500,000 by St. Louis. Gold reserves increased by $1,900,000 during the week. Aggregate increases of $38,500,000 are reported by three banks and a total decline of $36,900,000 - by the nine other banks. The largest net increases in gold reserves, by $27,500,000 and. $8,800,000, were reported by New York and Cleveland, and the largest net decreases, by $8,600,000 and $6,4oO,OOO- by Boston and Atlanta, Res3rves other than gold increased by $4,4oo,ooo, and non-reserve cash- by $8,600,000. Six of the reserve banks report reduced Federal reserve note circulation, the total reduction for these banks being $13,500,000. Philadelphia reports the largest reduction arr1ounting to $7,900,000., Dallas reports an increase of $3,700,000, while the five remaining banks show relatively small increases in note circulation aggregating $3,000.000. Holdings of paper secured by U. S. Government obligations declined by $20,500,000, this decline ac0ounting for most of the week 1 s liquidation of discounts. Of the total of $360,000,000 held on August 22 1 $238,200.000, or 66.2 per cent, was secured by U. S. bonds; $105,600,000, or 29.3 per cent, by Treasury notes; and $16,200,000, or 4. 5 per cent, by certificates of ind.ebtedness, as c-.ompared wi. th $251,100,000, $114,400,000, and $14,900,000 reported the week before. A. sur.mary of changes in the principal assets and liabilities of the reserve banks,as corr~ared with a week and a year ago, follows: Increase or Decrease In millions of dollars since Aug, . 15, 1923 Aug. 23, 1922 + 8.3 + 6.3 + 60 • 6 + 1.9 Total reserves •. Gold reserves • . , . Total earning assets . • • • . , . , Discou..nte.<.'l bills, total . , . . . . , . Secured by U, S. Government obligations Other bills di srounted , • . • • . . · Purchased bills , . . • , .. .. United States securities, total . . • • Bonds and notes . . • . . . , . U. S. Certificates of indebtedness To tal depo si ts • . , , • • • • Members t reserve d epo sits • • . • , . Go verm1en t deposits , • • . Other deposits • • • • • • • . . Federal reserve notes in circulation F. R, B<:nk notes in circulation net liability . • . • • • . . w. .. .s - 22.5 - 20.8 - 20.5 + .3 + 390. 7 + 234.3 + 156.4 + 3.4 + 10.1 5.1 4,0 1.1 - 4oo.o - 115.5 - 284.5 - 20.5 26.1 + 4.2 + 30.1 + 39.1 + 1~4 6.8 9.7 + .7 78.4 ;;;. 55.4 II ~ Released fpr publi\1ation Friday morning·, Aug,· 24, 1923; not earlier. St.3657a RESOURCES AND LIABILITIES OF TEE TWELVE FED.ERhL RESERVE BANKS OOMBINED (In thousmds of dollars) 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 . ... .. . .. .. . , . , , • . . .. u. S, bonds and notes • • • . . • U, s. Certifit-.1.tes of indebtedness , . . .Municipal warrants • . . • • , . . . ~ I Total earning assets Bank premises . • . , • . . 5~; aed~tion fund against . .F. R. Bsnk notes • • • . Uncollected i teins . . • . , All other resources • • . • 2·,079, 719 57,988 3,120,881 ),062,139 74,186 130,902 3,195,067 (a)70,947 3,193,041 359,999 .420,597 176,610 380, 56o 420,879 173 J 189 125,738 264,189 957,206 974,628 80,925 3,834 20 84,867 4,974 20 556,415 196,418 288,342 21 2,081,265 69,04o 3 ,122, it@Lt 1 ,o64,489 . . .. .' • . . • . • . • • . . • • . . . , ... RESOURCES L I ABI L I T I E S 'IOTAL .. .. . . Total deEosi ts . . . . . . F, R. notes in actual circul~tion • F. R, Bank notes in circulation net lia.bili ty . . , . • . • • Deferred availability i teros • , , , . . All other lia.bili ties • ... TOTAL LIABILITIES • , • . ... 53,664 9J.-( 583 ,fl5 13,043 . 166,4~8 1,041,196 43,344 6,572 529,863 17,410 109,678 218,369' 109,886 218,369 106,041 215,398 34,285 1,824,572 23,048 30,038 (a)1,850,690 21,682 43,972 1,785,489 22,390 1,881,905 2,225,063 (a)1,902,410 2,231,815 1,851,851 2,146,674 1,521 518,366 19,278 1, 550 594,033 18,660 56,953 432,286 22,223 4,974,180 (a) 5,076, 723 4,831,426 77.9% Contingent liability on bills purchased for foreign correspondents , , •. 35,14~ y *Not shown separ3.te1y prior to J'muary 1923. w. * 4,831,426 Ratio of tot:U reserves to deposit and F,R. note liabilities combined . . . , 93. 679,279 13,184 ··--- (a)5,076,723 4,974,180 Capital paid in , Surplus • , • • • . • ' ' Deposits: Government , , . . . Member bank - reserve ael".Ount • • , . • Other deposits , • (9.) Revised figures, 983,~ 74 Aug,23,1922 300,470 520,933 821,4o3 2,197,316 43,420 3 ,201,:u§_y 79,585 Non-reserve caah • , • • • . . • • . Bills discounted: Secured by u.s. Government obligations Other bills discounted , , . . . . , Bills bought in open ~arket •. Total bills on hand. 972,~~ ... 78,612 Reserves other than gold . • • . Total reserves Aue:. 22, 1923 Aug. 15, 1923 348,655 356,864 634,519 615, ~95 h 77.3% 79.9% 33,244 29,876 for f'-~:licat.ion Friday morning, August 24, 1923i not earlier. ~:. ;.6)7b RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF :BUSINESS, AUG:JST 22, 1923. (In thousands of dollars) ~~ RESOURCES Federal Reserve Bank of Gold and gold certificates Go1d settlement fUnd - F. R. Board Total gold held qy banks Gold with F. R. Agents , . Gold redemption fund Total gold reserves Reserves other than gold Total reserves Non-reserve cash Bills discounted: Secured by U.S.Govt. obligations Other bills discounted Bills bought in open market .Total bills on hand U. S. bonds and notes u. s. Certificates of indebtedness Municipal warrants Total earning assets Bank premises 5% Redemption fund against F. R. Bank notes Uncollected items AU other resources TorAL RESOURCES Boston New York Phila. 17,075 45.030 62,105 193,328 15.346 270,779 179,100 165.685 344,785 636,255 12.508 993.548 -~378 19,6c19 276,157 1,013,247 15,463 10,422 30,777 31.573 62,350 168,861 ll, 764 242,975 10,913 253,888 2,975 Cleve. 13,648 86,242 99,890 206,846 2,949 309,685 3.786 313,471 3,126 Rich. Atlanta Chicago 10,817 29.084 39,901 30,256 3.776 73.933 3.147 77,080 1,635 6,068 13.962 20,030 99,594 2,450 122,074 4,739 126,813 12, 74o 49,856 114.331 164,187 392,091 5.740 562,018 9.243 571,261 7,489 St.Louis 4,262 19,525 23,787 50,589 2,868 77,244 11,010 88,254 6, 753 Minn. Kana.Cy. Dallas San Fran. Tot~~ 3,400 12,584 2~:~~ 356,~ 8,406 19.713 28,119 35,087 2,476 65,682 1,115 66,797 2,974 46,252 49,652 41,224 3.568 94,444 2,606 97,050 4,622 6.768 3- o 615.~ 19,352·t_~01 j,-~59 16,079 211,055 2,081,265 _k519 4,076 -l: 6~~~40 36,950 ~~32 3,122, 64 5.410., 1,566 78,612 42,360 2~98 3, ~76 2,535 ( 8,851 ~19.585 s,o 23,211 37,495 10,323 71,029 4,235 461 75,725 4,434 29,639 30,622 9,051 28,300 20,985 6,982 11,182 25,207 39,827 35,989 43,949 36,859 22,449 29,495 2,012 882 41.701 1,273 8,209 42,071 42,689 96,547 71,722 53,249 114,320 58, 726 196 6,902 3,668 12,235 10,970 9,953 248 1,960 1 330 67 20 207,142 96,898 1o6,748 73,063 53,466 123,182 62,394 41,996 53,726 13,004 723 9:389 2,617 2,766 8,715 1,089 1,681 4,970 124,742 42,649 35.905 203,296 3,093 7.53 37 288 21,923 20.306 79,517 17,367 14 J 65 52,744 130 125,516 51,230 64,824 50,209 20,232 79,241 32,610 14,228 32,280 1.087 339 363 567 592 580 115 1.890 826 8,601 39,681 619 48,901 1, 780 29,396 45,074 13.309 871779 359,999 420,597 176.61Q 9571 2<1> 80,925 3,834 20 50,681 96,964 1,041,985 54,183 1,950 2,845 2S 21,722 3~79 2.667 3.887 t 93 583~15 13,043 424,653 1,370,418 406,053 497.921 205,171 216,6og 790,533 191,215 129,566 193,474 121,943 426,624 4, 974,180 rt: f~ fIf" tf;. ~ ~ r:: ~ ~-~- s:. 3657c. iteleased for pu.t::i.cation Friday morr:.i:·.g, Aug;.;.st 2!~, 1923; net earlier. RESOURCES .AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF 3\.:::::-:. ,SS0 AUGUST 22, 1923. LIABILITIES (ln thousands of dollars) Rich. Atlanta Chicago St.Louis Minn. Kans • Cy j)all as San Fran. Boston New York Fhila. Cleve. Total \ Federal Reserve Bank of 109,673 4,533 4,190 29,342 9,829 12,234 5,764 4,420 15,167 4,990 3,524 71768 7,867 Ce:pital paid in 3,942 30,398 9,665 7,473 9,438 213,369 7,496 15,263 591800 18,749 23,495 11,283 16,312 Surplus Deposits: 10,741 1,439 Government Member bank - reserve account 125, }80 6591730 178 13.1..?05 Other deposits 683,676 126,997 Total deposits 495,327 F. R. notes in actual circulation 222,851 F. R. Batik notes in circulation net liability 49,766 98,489 Deferred availability items 860 1.784 All other liabilities 424,653 1,370,413 TOTAL LIABILITIES · Ratio of total reserves to deposit and F. R.. note liabilities combined, per cent 73.9 85-9 Contingent liability on bills purchased for foreign correspondents 1,466 2,088 1, 562 2,479 2,244 21184 2,341 1, 749 2,645 34,285 31347 114,806 163,247 59,118 541 175~264;270 68,234 46,967 80,360 44,09 7 144,138 1,824,572 1 2 148 161 117 306 47<3 2.2 1 043 213 ~4 4~2 ~IO .292 117,582 167,040 61,367 55 854 26 71 555 70,897 48,303 82,996 46,059 153,079 1,881,905 211,043 237,127 80,103 132,133 403,953 71,757 55,077 6o,906 33,064 211,712 2,225,063 I 1,056 465 1, 521 47,355 56,302 45,542 14,220 65,552 32,776 13,370 34,487 23,591 36,916 518,366 1.495 1. 72~ 1.102 1.035 1,852 1.130 1.)1g 1,014 2.078 1,886 19.278 4o6,053 497,921 205,171 216,609 790,533 191,215 129,566 193,474 121,943 426,624 4,974tl30 77-3 n.6 67-5 34.4 64.3 ~ 50.4 / 3,028 3,803 1~831 1,44~· 4,89~ 1,549 1,~97 1,51~ 1,263 2,500 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F. R. notes outstanding 244,065 742,327 233,343 26o,634 83,625 142,947 464,195 89,634 60,319 63,963 41,784 249,939 2,637,335 F. R. notes held by banks 21,21~ 247,500 22,305 23,507 3,517 10,809 55,242 17,927 5,242 3,062 3,720 33,227 462,272 F. R. notes in actual circulation 222,351 495,327 211,043 237,127 30,103 132,133 403,953 71,757 55,077 60,906 33,064 211,712 2,225,063 DISTRIBUTION OF 3ILLS, U. S. CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL l,ii<.AFR.ANTS BY MATURITIES Within 15 days 16 to 30 days 31 to 6o days 61 to 90 days From 91 days Over 6 months Total to 6 months ll9,563 75,390 23,312 496,397 95,20lf 225 Bills discounted 780,596 59,029 29,013 52,949 31,440 4,179 176,610 Bills bought in open market 1,214 1,967 402 U. s. Certificates of indebtedness 251 3,334 20 20 Municipal warrants 7 .j 1?,113 c. __ )..>_. f f~·· ReleBse-5 for publication Friday morning, August 24, 1923; not earlier. ~DERAL St.3657d RESERVE AGENTS' ACOOUNTS AT CLOSE OF BUSINESS, AUGUST 22, 1923. # (In thousands of dollars) Federal Reserve Agent at Boston New York Phila. Cleve. Ri<'.h. Atlanta Chic.ago St. Louis Minn. Kans. Cy. Dallas San Frm. Total RESOURCES Federal Reserve notes on hand 81,950 Federal Reserve notes outstanding244,065 Collateral security for Federal reserve notes outstanding: Gold and gpld certificates 35.300 20,028 Gold rederr~tion fund 138,000 Gold fund - F. R. Board Eligible paperknoun t required 50,737 20,292 Excess amount held TO TilL 313 ,26o 49,020 31,220 25,570 72,067 742,827 233,348 260,634 88,625 142,947 119,700 24,890 12,180 29,713 464,195 89,684 60,319 68,968 16,284 70,800 846,654 41,784 249,939 2,687,335 2,4oo 7,194 90,000 11,880 13,052 10,446 2, 709 1,035 3,864 381,645 36,000 21,000 37,360 320,424 6,456 18,250 2,623 125,847 7,000 192,805 1,634,994 53,788 58,369 43,353 38,590 10,773 9,861 72,104 39,095 25,232 27,744 42,205 19,617 3,612 14,921 7,000 8,805 235,531 29,724 14,472 13,041 2,461 371,000 147,389 185,000 27,795 106,572 64,487 77,998 3,072 25,705 38,884 23,154 4$,008 6o6,o7o 312,103 590,372 1,876,912 518,788 591,078 213,593 367,822 1,090,295 223,875 136,430 182,570 123,0o6 61$,686 6,53),427 LIABILITIES Net amount of Federal Reserve notes received frorr1 Comptroller of the Currency 326,015 1,056,087 282,368 291,854114,195 215,014 583,895114,574 72,499 98,681 58,068 320,739 3,533,989 193,328 71,029 392,091 114,309 50,589 35,087 41,224 58,712 28,844 42,665 16,079 211,055 2,081,265 48,859 86,892 916;173 Collateral received from Federal Reserve Bank: Gold Eligible paper TOTAL 636,255 168,861 206,846 184,570 67,559 92,378 30,256 99,594 69,142 53,214 590,372 1,876,912 518,788 591,078 213,593 367,822 1,090,295 223,875136,430 182,570 123,006 618,686 6,533,427 w. •"' ....
@FedFRASER