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STATEMENT FOR THE PRESS Releaseo for publication Friday morning, ~ec. 12; not earlier. St. 4351 Federal Reserve Board, D:lcernber 11, 1924. CONDITION OF FEDERAL RESERVE BANKS The consolidated statement of condition of the Federal reserve banks on December 10, made public by the Federal Reserve Board, shows an increase of $5,}00,000 in holdings of discounted bills and decreases of $23,000,000 and $1,800,000, respectively, in holdings of Government securities and of acceptances purchased in open narket. Total earning assets fell off $19,500:000, total deposits $46,100,000, and cash reserves $25,200,000, while Federal reserve notes in circulation increased $4,600,000 and non-reserve cash $1,600,000. Larger holdings of discounted bills are reported by the Federal reserve banks of Cleveland, Philadelphia, Boston, and Dallas, the two banks first named showing increases of $15,200,000 and $13,300,000, respectively. The New York reserve bank shows a decline of $10,300,000 in its holdings of discounted bills, the Chicago bank - a decline of $ll, 500,000, and the remaining banks smaller decreases. Holdings of p~er secured by U. S. Government obligations increased by $2,600,000 to $127,300,000. A reduction of $12,900,000 in holdings of acceptances purchased in open market is shown by the Federal reserve bank of New York. The san Francisco bank reports an increase of $4,700,000 and Boston- an increase of $2,800,000, while - ,. the remaining banks show relatively smaller changes for the week. The System's holdings of Treasury notes declined by $29,800,000, while holdings of certificates of. indebtedness increased by $5,200,000 and of U. S. bonds by $1,600,000. The Federal reserve bank of New York shows a decline of $11,700,000 in its Federal reserve note circulation, the Philadelphia bank shows an increase of $5,700,000, Cleveland - an increase of $5,000,000, and Boston- an increase of $3,900,000. A surrm1ary of changes in the principal assets and liabilities of the reserve banks during the week and the year ending December 10, 1924, follows: Ir..crease or decrease during Week Total reserves • Gold reserves Total earning assets • Bills discounted, total •. Secured by U. S. Government obligations. Other bills discounted • • • . $25,200,000 30, 4oo ,ooo - $100,900,000 118' 100,000 19,500,000 5,300,000 + 2,6oo,ooo + 2, 700,000 - 20,600,000 597,700,000 236,000,000 271,700,000 .... 23,500,000 -·+ Bills bought in open market 1,800,000 U. S. Government securities, total Bonds • • • . . . . . . . Treasury notes • . . . . Certificates of indebtedness .. Year 23,000,000 1,600,000 29,800,000 5,200,000 + + 455,6oO,OOO + 27,900,000 302,4oO,OOO + + 125,300 ,coo + Federal Reserve notes in circulation • + 4,600,000 413,200,000 Total deposits • • . . . . . Member!.~ reserve deposits Goverm1ent deposits • . . Other deposits • . . . . . 46,100,000 60,100,000 + 13,000,000 + 1,000,000 + 281,600,000 + 268,800,000 + 9,4oo,ooo + 9 , l.!oo ,ooo '; '·' ... •·. . l -:'1 St. 4351a. Relea~e~ fo~ publication F~iday mo~ing, December 12, 1924. 'RESOURCES AlTD LIABILITIES OF TBE TWELVE G"EDEP.At RESERVE :SA."I\l'ifS COMBINED (In thousands of 0o11.al"s) De~~924 Doc. 3, 1924 Dec. 12, 1923 ~ E S 0 URCES 2, 108,895 647,643 461,474 1,905, 730 _45,788 1,951,518 588,036 483,376 2,997,498 3, 027,930 3,115,639 Feserves other t,an golc'l 95,213 _39,963 ~,010. Total reserves • . 3, 092,716 41,643 3,117,893 3,193,649 40,023 67' 612 127,279 126,977 124, 656 _!24,272 363,293 398' 635 254,256 248,928 761,928 352,333 354,606 329,383 46,353 361,082 144,456 44,785 390,876 139, 282· 18,491 58,691 19,112 551,396 96, 29~ 6,000 2,050 1,167,040 574,943 6,000 2,050 1,186,527 1,187,656 649,131 611741 26,239 663,892 61! 555 27,299 683,968 56,456 14,860 5,033,510 5,097,189 5, 204,229 F. P. notes in actual ci~culation F. R. Bank notes in circulation - net Deposits: Member bank - reserve account . Government • • . Othe~ deposits . 1,853,614 1,849,006 2,266,831 433 2,192,333 35,975 31,002 2,252,475 22,911 30,007 1, 923,505 26,612 21,556 'Total 0 eposi ts • Defe~re0 availability items Capital paiCl in . • . Surplus • . . . . All othe~ liabilities 2,259,310 573,685 112,123 220,915 13,363 2,305,393 595,531 112,159 220,915 14,135 1,971,673 610,980 110,142 218,369 25,751 5,038,510 5,097,189 5,204,229 Golc'l with Fe0eral rese·rve agents • . . Golr1 rer1emption funil with u.s.rrreaS'.lry . fJolc'l helc'l exclusively against F<F.notes Golil settlement fun'l with F. p, 3oa~c'l Golil anc'l golil certificates helc1 by banks 'T'otal crolc'l ~eserves • • Non-reserve cash • • Bills c'liscounteo: Sec. by U. S. Government obligations • Other bills c'liscounted • Total bills oiscounted Bills boyght in open market U. S. Gcve~ment secu~ities: Boncl s • . . Treasu~y notes . . • . . . Certificates of inc'lebtec'lness Total U. S. --- Governmen~uritias Fo~eign loans on gold • • • • All other ea~ning assets Total . ea~ing .. . . assets 5% P.e0emption func'l - F. R. Bank notes Uncollected items • .• Bank p~emises . • • . . All othe~ resou~ces • . "'0rrAL RESOURCES L I AB I ~ I ~ rese~ves to deposit and Contingent liability on bills purchased fo~ fo~eign corresponc'lents • . . . .., 51 28 F. B. note 1 iabili ties combined • . • v. 63,085 2,163,980 584,501 367' 158 I E S TOTAL r.IA:BILI'TIES . . Ratio of total 1,336,263 32,093 1,368,331 37,297 75·1~ 75.3% 31,229 18,366 RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, DECEMBER 10, 1924. RE S 0 URCE S (In thousanc1s of nolla-rs) Rich. Atlanta Chicago St. TJouis Minn. Kans. Cy. Dallas San _li'-ran. 'J'ota1 Fecte-ral Reserve Bank of Boston New Yo-rk Phil a. Cleve. Golct with Fe0e-ra1 Reserve Agents 174,805 444,530 165,456 197,451 82,506 134,936 190,984 55.314 72,548 63,904 42,196 211,658 1,836,288 Gol~ -re0emption fun0 with U.S.T-reas. 4,924 5,487 3,843 1,653 1,593 2,196 971 2,972 623 3,399 1,727 2,705 32,093 f F..<.3leased for publication Friday morning, December 12, 192~; not aarlier. st. 435Iq RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CTJOSE OF BUSINESS, DECEMBER L I AB I L I T I E S Fa~eral Reserve Bank of F. R. notes in actual circulation Deposits: Member bank - reserve account Government Other Cleposi ts Total ~eposits Deferred availability items Capital pai~ in Surplus All other liabilities TOTAL LIABILITIES Ratio of total reserves to oepoei t ~. F. R. note liabilities combinaCI, per cent Boston New York 204,096 (In thousands of dollars) Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 135,830 853,580 125,602 1,904 6,415 3,538 20,178. 126 272 137,860 830,173 129,412 55,006 114,969 50,929 30,214 10,518 7,980 16,390 59,929 19,927 546 2,657 507 421,839 1,457,306 382,005 72-9 65,559 2, 278 131 67,968 55,523 5,900 11' 672 890 228,613 3,127 3, 772 c. 78,782 1, 723 1, 278 81,783 35,775 5,153 10,072 468 190,201 53,863 1,482 424 60,769 14,529 3,267 7,484 1,435 159,994 34,179 2,122 795 67,696 36,380 4,341 9, 496 654 211,339 1,418 1,837 4,803 OUTSTJU~DING 1,580 61,319 1,382 176 63,879 35,425 4,131 7, 577 833 163,880 165,829 2,192,333 4,387 35,975 5, 046 31,002 175,262 2,259,310 40,826 578,6E5 8,101 112,123 15,301 220,915 1,297 13,863 453,689 5,038,510 66.1 1,160 1,483 75·2 2,450 1,225 37,297 AND IN ACTUAL CIRCULATION 230,742 525,760 205, 283 228 t 893 95,540 158,471 215,842 64,373 75,506 80,368 64,253 255,861 2, 200,892 26,646 156,396 34,610 18,900 8, 880 16,502 17,152 7,423 2,996 7 t 596 7,218 42,959 347' 278 --~----~~~~~------~----~------~~----~----~~--~~--~~=~--~----~~~-~~~204,096 369,364 170,673 209,993 86,660 141,969 193,690 56,950 72,510 72,172 57,035 212,902 1,853,614 Within 316,660 4,023 1,053 321,736 63,986 15,189 30,426 1,848 636,877 75· 7 DISTRIBUTION OF BILLS AND U. Bills d iscountecl Bills bought in open market Ce:r.tificates of in<'lebtedness 62,443 2,056 107 64,606 22,453 4,573 8,950 1,398 243,949 71.4 77 ·9 14,442 182,587 4,165 1, 414 188,166 47,862 12,756 23,691 1,330 483,818 FEDERAL RESERVE NOTES F. R. notes in actual circulation Total 369,364 170,673 209,993 86,660 141,969 198,690 56,950 72,510 72,772 57,035 212,902 1,g53,614 Contingent liability on bills purchased fo:r. foreign COT.'respondents F. R. notes outstanding F. R. notes held by banks 10, 1924. 15 days 174,476 100,198 55,426 16 to 30 days 23,755 54,043 31 s. to CERTIFICATES OF INDEBTEDNESS BY MATURITIES 60 oays 28,835 108,012 61 to 90 oaws 17,303 78,724 241 From 91 days to 6 months 9,243 11,861 16' 357 Ove~ 6 months 644 72,4 32 Total 254,256 352,833 11;.4,456 Releaaa<' for publication Fri<'ay morning, December 12, 1924j not earlier. St. 43520 FEDERAL RESERVE AGEtJTS 1 ACCOUNTS AT CLOSE OF BUSINESS, DECEMBF::R 10, 1924. (In thousanc'l s of c1 ollars) Phila. Cleve. Boston New York Fec'leral Reserve Agent at BE S 0 UP CE S Fe~eral Reserve notes on ba~ 349,980 45,520 50,370 59,550 F~eral Reserve notes outstancling 230,742 525,760 205,283 228,893 Collateral aecu:rity for Fec'!era1 Rese~e notes outstanding: Go1c'l a~ go1CI ce:rt i ficates 35,300 138' 531 6,400 3, 780 Gale'! :rec'l emption fun:1 11,505 29,999 12,667 13,671 123,000 226 1000 146 1 389 17 5, 000 Gold funCI - F. R. Boa'T'Cl. Eligible paper 81,230 39,827 31,442 Amount :requi:recl 55,937 18,200 Excess amount held 57,578 11,205 41,908 TOTAL Rich. Atlanta Chicago St. T.cuis Minn. Kans. Cy. Dallas San Fran, rrotal 28,525 65,805 248,720 26,000 15,164 27,053 95,540 156,471 215,842 64,373 75,506 80,363 16,632 69,500 1,002,Bl9 64,253 255,861 2,200,89~ s, 735 13,052 3,500 6,436 3,544 4,711 5,340 3, 529 996 77,795 125,000 135,644 43,000 53,500 60,360 14,556 278,904 4,140 17,416 113,954 23,500 194,242 1,443,430 24,858 9,059 2,953 16,464 22,057 44,203 33,941 17,718 373 2,936 2,918 9,466 -----539,234 1,459,078 467,291,550,064 229,499 389,789 714,345 172,464 167,049 190,725 143,056 590,633 13,034 9,894 23,535 7,042 364,604 213,679 ·---·--- 5,613,2~2 L I AB I L I T I E S Net arn6unt of Federal Raserve notes :received f:ram Compt:rcl1er. of the Cu:rrency Collate:ral reeeivec'l from Fed era1 reserve bank: Golo Eligible paper TOTAL 290,292 174,305 74,137 375,740 250,803 279,263 124,065 224,276 464,562 90,373 90,670107,421 80,885 325,361 3,203,711 444,530 165,456 197,451 138,808 51,032 73,350 42,196 211,658 1,336,288 24,975 53,669 578,263 32,506 134,936 190,984 55,314 72,548 63,904 22,928 30,577 53,799 26,777 3,831 19,400 539,234 1,459,078 467,291 550,064 229,499 389r789 714,345 172,464 167,049 190,725 143,056 590,688 5,6lo,282
@FedFRASER