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· STATEMENI' FOR THE PRESS . ' ~ t ' •• St. 4131 Federal Reserve ~oard, August 7. 1924. Released.· for Publication Fridq morning, Aug. 8; not earlier. CONDITION OF FEDERAL RESERVE BANKS The consolidated statement of conditicn of the Federal reserve banks on Au~st pub lie by the Federal Reserve Board,' shows a· net increase of $7,600,000 ln t~tal earning assets. holdings of Government ·securities having increased by "'30 200 000 "while those of discounted bills cleclined by $20,300,000 and of accept~a.nces I t ' purchased in open market - by $2,300,000, Fed.e:ral reserve note c l rcu1a t•lCn decreased by $5,600,000, cash reserves by $J0,900,000, and deposit liabilities by $5.100,000. 6 made All Federal resel"ve banks :report smaller holdings of discounted bills except _,. Boston e.nd. Dallas, which show increases of $1 1300,000, and. $1,500,000, respectivelyi· The New York reserve bank shows a. decline ot li>7,400,000 in its hold.ings of discount·eli bills~ Richmond a decline of $5,100,000, and Philadelphia a decline of $},100,000, Holdings of paper secured by Government obligations 4dcreas~ b,y $13,300 1 000 to $78,800,000. Of the latter amount, $65,500,000 was secured bw Liberty and other U, S. bonds, $11,500,000 by Treasury notes, and $1,800,000 by certificates of indebtedness, The r.et increase of $30,200,000 in Government security holdings includes increa$es of $24,700,000 in Treasury notes and of $6,200,000 in certificates of indebtedness, partly offset by a reduction of $700,000 in holdings of U. S. b~s. The Philalielphia reserve bank reports a decline of $3, 700,000 in its Fed.eral reserve note circulation. New York a decline of $3,100,000, Chicago of $2,300,000 and Cleveland of $1,700,000, while the San Francisco bank shows an increase of $3,700,000 and Boston an increase of $1.300,000. The remaining banks report relatively small changes in the volume of their note circulation. Gold reserves d.eclined by $29,200,000 during the week, Reserves other than gold. by $1,800,000, and Non-re.. serve cash by $2,200, COO, · · A surmnary of changes in the principal assets ard liabilities of the reserve 'b.a.nka during the week ant the year ending August 6, 1924, follows: Increase· or decrease· during . . . . . . . . . .. .. .. Total reseJ"Ves • .. ' Gold :reserves ' \ - $}0,900,000 ..; 29,200,000 Total earning assets . • • . , . . • . , 7, 6oo,ooo + Bills discounted, total • , 20,300,000 Secured by u.s. Government obligations. l3,3CO,OOO Other bills discounted • , . • • . • 7,000,000 Bills bought in open market • . • . • • 2,300,000 ... U. s. ~=ar~-- Week Governmant securi ties• total • , + $J8,900,000 + 1},100,000 • - 258' 200, coo 549, 500,000 31Ss400,000 231,100,000 - 155.300,000 + 30.200,000 Bows , . . . 700,000 Treasury notes • . . . • • , • • . • + 24, 7001000 Certificates of indebtedness • • + 6,200,000 Federal Reserve notes in circulation 5, 6oo,ooo + )36,}CO,OOO Total deposits • • • , , . , • . . . , • Members' reserve dep0$its •• , • . , Gover:qment deposits • • • • . . • . , Other deposits • , , . . + 232, 100, Coo # • • • • , • • • • • • .. 0 , • , • 0 • + - 5,100,000 5,300, 000 10,300,000 100,000 + 445,300,000 + 4,800,000 + lo4, 200,000 - 468' 300, 000 + 254,900,000 + + l'J, 100, OCX) 9,100,000 Released for pu.blication.Friday rnon1ing. August 8, 1924. ~ RESOURCES .AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANI~S COMBINED (In thousands o£ dollars) .Aug. 6, 1924 RESOURCES Gold with Federal reserve agents • • • • • Gold redemption fund with U. S. Treasury • Gold held exclusively against F. R. notes Gold settlem:mt fund with F. R. Board • • Gold ar.d gold certificates held by banks • t . .. .' .... Total gold reserves • .. Reserves other than gold • • • • • Total reserves • • .. . .. Non-reserve cash • . • • • Bills disc~nted: Sec. by U. S. Government obligations • • Other bills discounted • .. Total bills discounted l I St. 418la. Bills bought in open market •• U. S. Government securities: Bonds . • . . . .. . • . . • Treasury notes , • . . . • • . . Certificates of indebtedness . . ... ... . .. .. .' Total U. S. Government securities •• All other earning assets • • . . . , Total earning a:ssets • • • . • • , Redemption.fund- F, R. Bank notes Uncollected items • • . • • • • • • , • Bank premises • . • • • . . . , , • • All other resources • . . 5% TOTAL RESOURCES • , ... Jul;y 30, .Ja24 .Aug. S, 1923 2,o40,0l2 3,125,740 103,309 3,229 ,o4g 47,746 2,080, o4 7 43,732 2, 123, 779 590,814 - 440,312 3,154,905 __]p5.093 3. 259,998 49,94 7 78, ;96 194,842 273,638 22,097 92,052 201,843 293,895 24,441 397,209 425,893 823,102 177,409 29,634 394,419 535,517 1,250 ---832,502 30,378 369,655 105,248 505,281 1, 250 824,867 514,880 58,668 30,070 4, 712,915 518,145 58,573 23,77£: 4, 740,308 24,815 56. lo6 7,285 90,206 10 1,090, 727 193 539,877 53,424 13,058. 4,951,537 2,079,415 35,799 2,115,214 589,472 ~1,054 11~,464 ___§1, 701 2,101, 713 664,114 _146,809 3, 112,536 77,4S4 3. 190,120 64,138 LIABILITIES F. R. notes in actual circulation • • .• F, R. Bank notes in circulation - net ' Deposits: Member bank - reserve account • • Government . • • • . . • ' , Other deposits • • . • • •. . . . . . .. Total deposits . • Deferred availa:bility items • • • . , . • Capital paid in • • • . . . , . . , Surplus . • . . . . . . . . . . . . . All other liabilities • • • • TOTAL LIABILITIES • • 1, 756,014 2, 092,696 35,075 31,855 2,159,656 452,831 111,493 220,915 12,006 4, 712,915 2, 224, 35S 1,571 2,067 t 395 45;385 ~,015 2, 164,795 469,415 111,487 220,915 ____l_~.tl27 4,740,308 1,860,022 21,935 22,834 1,9o4( 79i 474,269 109,673 218,369 . 18,506 4,951,537 Ratio of total·reserves to deposit and F. R. note liabilities combined • • 77. 3'/~ Contingent liability on bills purchased for foreign correspondents • • . 33,136 c. I l Released f'or P\lblicati<n Friday morning, AUgust S, 1924; not earlier. St. 41Slb. t Im;SOORCES AN> LIABILITIES OF TBE FEDERAL RESERVE BANKS AS AT CLOSE OF BUSINESS. AUGUST 6, 1924. f RESOURCES (In thousarxls of dollars) t Fed.e:ral Reserve Dank of Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans. Cy. Dallas San Fran. Total t Gold with .Federal Reserve Agents 210,798 620,051 187,86o 214,839 47,449 121,393 249,562 59,132 54,647 6o,260 21,476 231,948 2,079,415 Gold redemption fund with U.S.T:reas. 3,&)1 5,710 4,207 1,889 3,073 2,614 5,863 2,420 1,o41 2,115 1,501 1,675 35,799 Gold. beld exclusive1;:t: ~ainst F. R. notes 214,489 625,761 192,067 216,728 50,522 124,007 255,425 61,552 55,688 62,375 22,977 233,623 2,115,214 ... Gold settlement fund with t~·R.Board 51,877 152,981 36,624 72,432 37,014 11.293 122,743 31,426 4, 230 36,067 5,566 27,169 ~89,472 Gold and gold ce!ttif. held b,y banks 18,963 194,273 30.469 18,828 10,697 7,319 76,150 9, 351 9. 753 3,275 7,185 34,791 21,054 Total gold reserves 285,329 973,015 259,16o 307.968 98,233 142,619 454,318 102,329 69,721 101,717 35.728 295,583 3,125, 74o Reserves other than gold 10,540 26.474 3,121 6,501 3,619 12,188 12,348 12,236 1,94o 3,018 6, 773 4,551 103,309 Total reserv_M 295,869 999,489 262,281 314,469 101,852 154,807 466,666 114,565 71,661 104,735 42,501 300,134 3, 229,049 Nan-reserve caSh 3,051 14,362 1,361 2, 759 2,170 4,oc4 6,553 4,189 1,036 2,472 2,239 3.550 47,746 Bills discounted: Sec. by U. S.. Govt. obligations 4,894 l.S.279 14,184 11,763 8,657 2,581 8, 780 3,::.64 2,6o2 2,585 349 858 78,796 Other bills discounted 6,661 13,441 7,052 6,715 26,960 26,905 28,077 14,775 14,091 12,718 19,854 17,593 194,842 Total bills discounted 11,555 31, 1ro 21,236 18,478 35,617 29,%6 36,857 18,039 14,440 13,576 22,456 20,178 273,638 Bills bought in open market 2,498 6,996 1,~6 1,429 1,095 1,498 27 290 962 4,653 1,561 22,097 U. S. Govemment securities: Bonds 1,040 4,902 4,115 1,191 749 423 4, 759 6oo 7,662 1,247 1,834 1,112 29,634 Treasury notes 27,805 137,839 25,371 38,348 3,030 959 53,252 10,905 15,985 23,205 18,706 39,014 394,419 Certificates of indebtedness 8,564 39,613 4,680 11, 7C1J 904 312 14,443 2,189 3,873 6,255 5,127 13,795 111,464 Total U. S. Govt. securities 37,4C9 182,354 30,800 54,172 5,125 1,694 72,454 13,69·4 27,520 30, 707 25,667 53,921 535,517 All other earning assets 1,250 1,250 Total earning assets 51,462 221,070 54,374 74,079 4o,742 32, 275 110,809 31,76o 42,250 45,245 52,776 J5,6bo SJ2,502 Uncollected i terns 46,588 118,544 46,407 48,071 45,314 21,941 63,4o5 22,784 11,732 35,464 22,047 32,583 514,880 Bank premises 4,312 15,974 1,110 9)129 2,528 2,875 8,264 2,155 2,893 4,595 1,912 2,921 58,668 All other resources . 11!88,2 282 112 127 1!~27 23~ 144 5!475 1,289 3,623 4!2~2 425 20 1 070 TCI.rA:L RESOURCES 401,401 1,381,322 365,815 448,86o 192,803 217,829 656,192 175,597 135,047 193,800 125,108 419,141 4, 712,915 c. ____ ....... --::...__-----·~------- - - ---- _____. ..._____ ....._. Released for :pub:i.icatim Friday morning, .A:.lgust 8, 1924; (P net earlier. RESOURCES .AND LIA9ILITIES OF THE .FEDERAL RESERVE 3ANKS AT CLOSZ OF BUSINESS, AUGUST LIABILITIES Federal Reserve Bank of F. :R... nOtes in actual circulation Deposits: !.'!'ember bark - reserve account Government Other deposits Total de_pos its Deferred availability items Capit a1 paid in Surplus All other liabilities TOTAL LIABILITIES Boston 196,663 I. 1924 .. 4181c. (In thousarrls o:f dollars) New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total 320,577 169.229 200,807 68,584 132,346 234,635 58 691 65,028 63,504 40,328 205,422 t 1}4,468 843,442 1,248 11,462 134 19,375 135,850 874,279 44,290 95,105 8,006 29,976 16,390 59,929 202 1,456 401,401 1,381,322 Ratio of total reserves to deposit am. F. R. note liabilities combined, per cent 124,340 1,459 387 126,186 39,826 10,232 19,927 415 365,815 165,919 2,318 1,046 169,283 41,556 12,655 23,691 62,b58 53,421 315,536 74,354 45,o4 7 77,541 1,168 1,938 5,280 2,184 1,355 2,844 140 125 1,784 279 3,157 547 63,966 55,4~4 322,6oo 77,085 46,681 83,542 41,816 15,015 51,858 24,214 11,146 32.251 5,843 4,597 15,173 5,053 3,370 4,383 11,672 8,950 30,426 10,072 7,484 9,496 868 922 1,437 1,300 482 1,338 624 448,860 192,803 217,829 656,192 175,597 135,o47 193,800 88.8 Cont in'3:ent liability on bills purhhased for foreign corresponclents St. 9,415 3,475 82.4 4,192 2,042 s4.4 1,576 5,338 46,372 149,598 2,092,696 1,584 2,235 35.075 178 4, 733 _22,__2 '"'1 88'""' 48,1}4 156,566 2,159,656 23,131 32,623 452,831 4,146 8,059 111,493 7, 577 15,301 220,915 1,792 1,170 12,006 125,108 419,141 4, 712,915 64.1 1, 756 1,290 1~756,014 48.0 1,648 1,361 2,723 34,816 FEDERAL RESERVE NOl'ES OUTST.ANDING .AND IN· ACTUAL CIRCULATION F,. R. notes outstarx:ling F. R. notes held by banks F. R. notes in actual circulation 215,985 19,322 196, 663 625,305 206,008 224,382 77,718 144,410 252,159 68,792 68,678 70,324 46,627 248,772 2,249,160 304,728 36t779 23,575 9,134 12,064 17,324 10,101 3,650 6,820 6,'299 43,350 493,146 320,577 169,229 200,807 68,584 132,346 234,835 58,691 65,028 63,504 40,328 205,422 1,756,014 DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES 15 days 118,629 9,500 Within Bills discounted Bills bought in open market Certificates of indebtedness 16 30 days 28,718 5,628 to 31 60 days 56,950 3,355 to 61 Fr~ 91 da,ys to b months 90 days 44,039 2,o4o to Over 24,911 1,574 99,284 ..... _____ .....-..-....__- -~------- -~-- ----- __ ...... ~---- ........_______- --- Total 391 273,638 22, C97 12,180 c,. 6 months -- --- - 111,464 Released for pu.b:ication .Frid.ay mOl"ning, .August 8, 1924; not e~lier. St. 418ld. FEDERAL RESERVE AGENTS' ACCOUNI'S AT CLOSE OF BUSINESS, AUGUST 6, 1924.. (In thousands of d.ollars) Fa@eral Reserve Agent at Boston New York Phila. Cleve. Rich. Atlanta Chicago St.,Lcuis Minn. Kans. Cy ••Dallas San Fran. Total RESOURCES · F3dera1 Res3rre notes on ham Federal Reserve notes out standing Collater·al security for Federal Rer;erve notes out standing: Gold arx:l gold certificates Gold red errpt ion fund Gold fund - F. R. Board Eligible paper: knount required Excess amount :held 89,500 215,985 238,120 53,000 54,170 39,110 76,303 223,840 26,100 21,980 22,237 68,500 945,953 625,305 206,008 224,)82 77,71£ 144,410 252,159 68,792 68,678 32,493 70,324 46,627 248,772 2,249,16o 238,531 13,000 3, 780 3,500 9,935 12,552 14,056 704 30,520 14,471 11,059 4:i54 3,893 5,917 3,147 1,095 4,90C 2,920 1&,028 335. 112,602 351,000 160,389 195,000 43,295 114,000 243,645 46,ooo 41,000 55,360 4,500 213,920 1,631,109 5,187 5,254 18,148 9,543 30,26g 23,017 2,597 9,66o 14,031 10,064 25,151 16,824 169,745 8,866 28,911 820 10,346 4,963 7,542 35,601 8,372 404 4,26g 1,909 3,237 115,24o 530,336 1,517,641465,836 513,880 199,509.372,665 763,759 172,056 159,74o 177,410 117,400 569,281 5,559,~ 35,300 12,498 163,000 LIABILITIES Net a:-nount of Federal Reserve notes rece ivecl from Canptroller of the Currency 305,485 Collateral received from Federal reserve bank: Gold El igi b1 e paper TOT.At c. - . 863,425 259,008 279,·152 116,828 22), 713 475,999 94,892 90,658 102,817 68,864 317,272 3, 195,113 210,798 620,051 l87,86o 214,839 47,449 121,393 249,562 59,132 54,647 6o,260 21,476 231,948 2,079,415 ~1~4L,0~5~3~~~~,1~6~5~~~~'~9_68~1~9L,8~8L9~3~5,~2~32~3~0~,5~~~~3~8,~1L98~~1~8L,0~3-2~14,435 ~,333 27,060 2~061 284,985 530,3361,517,641465,836 513,880199,509 372,665 763,759 172,056 159,740177,410 117,400 569,2815,559,513
@FedFRASER