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STATEMENT FOR TEE PRESS
Release a for publication·····
Fridey morning, Dec. 21;
not earlier.
CONDITION OF FEDERAL RESERVE BANKS
St. 3853
Federal Reserve Board,
~·
December 20, 1925.
An increasoe of $29,600,000 in Federal reserve note circulation and a d.ecline of
$30,2C-::J,OOO in cash reserves, reflecting the <special demand for c~rre~cy.b~ ~he
holiday trade, acconpanied with a decline of $8S,800,0CO in depos1t llab1~1tles and.
reductions of $11 800 000 in hoidings of bills discounted, of $7,000,000 1n acceptances purchased in q,en' market, and of $15,COO,C00·. in U. S. Government securities, are
shown 'in the Federal Reserve Board's weekly consolidated statement of condition of
the Federal reserve banks at close of business on December 19 1 1923. The reserve
ratio rose from 75.3 to 75.7 per cent.
Net liquidaticn of $13,000,000 in holdings of discounted bills is reported by
the Federal Reserve Bank of~New York, $12,COO,OOO by Boston, $7,400,000 by Chicago,
and $4,800,000 by Atlanta. Increases of $7,300,000 are shown by Sa,n Francisco,
$6,soo,oco by St. Louis, $6,300,000 by Richmond, and $4,800,000 by Philadelphia.
Paper secured by U. S. Government obligations increased by $22,100,000 during the
week, partly offsetting the reduction of $33,900,000 reported in other bills discounted~
Of the total of $385,400, COO of bills secured by Government obligations
held on December 19, $257,500,000 was sacured by Liberty and. other U. S. bonds,
$109,900,000 by certificates of indebtedness, and $18,000,000 by Treasury notes.
Substantial increases of Federal reserve note circulation are reported by all
Federal reserve banks except those at St. Louis and Dallas, which report small decreases, and the New York bank which shows only a nominal increase. The Boston bank
shows the large.st increase, of $7,700,000, Philadelphia, Chicago ar.d San Francisco
report an increase of $3,900,000 each, while the remaining banks show smaller increases.
Gold reserves declined by $24,500,000 during the week, also reflecting the increased currency demand for the holiday period. All Federal reserve banks' except
those at Boston, Atlanta and Kansas Ctiy show smaller gold res~50 s, these three
banks showing increases of $15,900,000, $8,600,000 and $3,900~/respectively. Of the
decreases, $10,400,000 ~s reported by St. Louis, ~JQ,390,000 by New York,
$9,100,000 by .San Franc1sco, $7,900,000 by Rich/mand $6,100,000 by Philadelphia.
Reserves other than gold declined by $5,700,000 during the w~ek, and non-resarve
cash by $},100,000.
A summary of changes in the principal assets and liabilities of the rese:rve
banks, compared with a week and a year ago, follows:
Increase
or
Ddcr6aS~
In mill ions of dollars
since
Dec~~-~ Qec. 20, 1922
Total reserves • . • .
Gold reserv~s
.. .
...
Total earning assets . .
• .
Discounted bills, total . . . • . . . .
Sscured 'oy U. S, Govar:n.:11ent ooli::ations
Other bills discounted . .
. .~ . .
Purchased ·bills
. . . .
United States securities, total
Bond s and notes • . . . . • . • .
U. S. Certificates of indabtedness .
:c+al deposits . . . . . . .
Members 1 :reserve d cpos its
Govarnment deposits
Ot:1erdeposits • . . . . .
Fed2ral ReseTve notes in circulation
c.
.
+
+
+
33-8
11.8
144.7
+ 134.6
+ 70.6
+ 64.0
22.1
33-9
..
7.0
+
+
6. 7
30.2
24.5
+
45.2
{0.
7
15.0
4.2
10.<3
- 350.0
102.0
- 248 .o
58.8
73-9
15.3
.4
...
+
+
·9
9.4
4.6
13.1
- 16o.3
'
,. __.
. . .
Released for publication Fridczy- rnorning, Dccembor 21, 1923.
..-:..---::..·;~·--
St .. 3S53a.
RESOURCES AND LIABILITIES
OF THE TV$LVE FEDERAL RESERVE BANKS COMBINED
(In thousands of dollars)
Dec~
.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 • • , • • . • • •
Reserves other than gold
..
...
...
Total reserves ,
Non-reserve cash • • • • •
Bills dis counted :
Sec. by u. S. Government obligations ••
Other bills dis counted • •
• • •
Bills bought in open market • . • .
Total bills on hand • • • .
U. S. bonds an:l notes ·• • • • .
u. S. Certificates of ind 3btednass •
'Muriieipal warrants • • s. • • .. • •
Total earning assets • • • •
Bank premises • • • • • •
5% Redemption.fund against
F. R. Bank notes •
Uncollected. items
All other resources • • •
.. . .
. ..
•
•
• •
... .. .
TOTAL RESOURCES .
LIABILITIES
Capital paid in • • •
Surplus • • ••
Deposits:
Government
. • • • •
Member bank - reserve account
Other deposits
• . • . . .
348,584
541,011
oQ9,595
2,140,445
61,092
3, C91, 135
72,303
),163,438
64,548
36 7,158
5842 501
951,659
2,100,895
63!085
3, 115,639
782010
3, 19 3, 649
67,612
385,425.
364,771
322,379
1,072,575
363,233
398, 6}5 .
329,383
l,C91,311
77, 1o2
19,112
51
72,957
6,292
51
1,153,875
56,951
28
734,270
15,515
291,081
582,494
873,575
2,117,688
54!647
3,045,910
110,799
3, 156, 7C9
*
314,851
300,707
251,728
.3~7,286
174,958.
256,282
26
---
1,187 f 656
56,456
1,296,552
47,161
28
6b3,96s
14,860
2,625
759,392
14,840
5,188,625
--5, 204, 2C]
5,279, 299
....
110,156
218,369
110,142
218,369
107,261
215,396
. ., .. .
11,334
1,349, 596
21,922
1, 682,652
2,296,436
26,612
1,923.505
21,556
1,971,673
2,266,831
6,715
1,840, 205
35,039
1 ,b81,959
2,456, 711
477
483
610,980
25,751
12,499
576,997
28,474
5,204,229
5,279,299
. . .. -
....
Total deposits : • . . .
F. R. notes in actual circulation
F. R. Bank notes in c ircui at ion net liability ~ • •
• •
Deferr€!d availability items
All other liabilities
19; 1923 Dec. 12. 1923 Dec. 20,1922
---
654,456
..
TOTAL LIABILITIES •
25,379
----5, 16o ,625
Ratio of total reserves to deposit and
F. R. note liabilities a.ombinGtd ••.•
75.7%
75.3%
72.8%
Contingent liability on bills purchased
for foreign correspondents
••••
17,656
18,366
33,152
*Not shown separately prior to January, 1923.
c.
St. 3853b.
:Releaaed for publication; Frida;r rooming, December 21, 1923; not earliar.
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AS AT CLOSE OF BUSINESS, DECEMBER 19, 1923.
(In thousands of dollars)
RES 0 URCE S
Cleve. Rich. Atlanta Chicago St. Louis Minn. Kans.Cy. Dallas San Fran. Total
Boston New York Phil a.
Federal Reserve Bank of
6, 650 51,240 4,356 3,816
348,584
3 1 217
11 1912 22,108
19,749 169,915 32.934 12,382 5,305
Gold and _gold certificates
4
7.141
_ll...866
34,246
541,011
l6s8Qq
115.:289
24l114
29.
0§.~
~
66,
}02
31.654
Gold settlement fund - F.R.Board 56.932
25.152
~U.120
23,778 56,354 339,595
76,684 251,635 62,017 78,684 36,959 23,459 166,629 29 J 508 33.530
50,358
Total gold held by banks
30,188
26,896 228,659 2,140,445
72,218
83,872 385,113 49,656 52,314
173,256 6 33,742 182,566 221,965
Gold with F. R. Agents
1
641
5.9}1 4.051
6,492 10.490 4,5~3
2.02}
3.012
61~
2.231 4,867
1
Gold redemption fund
9.645
5,812
66,419
52,697 283,025 3,091,135
259,585 391,869 255,073 305,J.S2 111,506 112,198 557,673 33,221 87 J 685
Total gold reserves
6 1 oso
6!442
22.527
7.120
3.123
1 2 756
Reserves other than gold
4 2 ~53
171
9.998 3.174 2,126 42827
72.30~
263,938 914,396 265,071 308,356 113,634 117,025 564,115 90,341 33,462 S9, 542 58,777 289,781 3,163,438
Total reserves
!.
r
''
If
I
t
rt
!
f
t
r
15,657
Non-reserve cash
Bills discounted:
25,462
Secu~ed by u~S.Govt. obligations
Other bills discounted
33,083
Bills bought in open market
32,C95
90,640
Total bills on hand
u. s. bonds and notes
3.695
U. S. Certificates of ind e btodne ss
332
Municipal warrants
Total earning assets
95,167
4,434
Bank premises
8, 728
104,894
25,704
89,294
219,392
5,109
4,590
7,048
1,434
3,410
45,516 43,610 29,513 20,443 40,914 21,129
15,611 27,072 30,556 50,365 45,245 4o, 301
26,943 40,235 1,354 11,155 35 t 354
29
63,075 110,96 7 61,928 82,466 124,513 61,459
202 8, 784
1,341
12,565 9,943
102
S4o
1
1, 297
6, 769
14,941
6
21,716
8,370
16
22,895
34,112
2,476
2,632
229,591 100,742 122,207
14,516
754 9, 571
1,334
7,263
5.593
51
63,269 82,720 134,137 61,459 30,102
2,617
2,930
3,715 1,345 2,068
All other resources
r
TOTAL
I
t
C.
6,371
57' 712
7,484
514
65,710
4,989
65,330 103,441 1,153,875
1,953 3,059
56,951
7~5
~
28
6 7,527
166,243 67,242 72,176
67' 778
4EA
31,210 90,244 37,833
462
618
14
16,376
64,548
1,917 22,353
335,425
10,750 36,528
364,771
46,284 35.370 322,379
53,951 94,256 1,072,575
6,279 9, lS5
72,957
100
3,292
5% Redemption fund against
F. R. Bank notes
Uncollected items
2,602
38,582
29,611
28
49,448
734,270
l,ll6
}46
1.040
~.516
138
343
3tl42 4.188 --..!5-L.s.!~L
446,661 1,334,590 436,631 515,285 249,101 241,826 ~03,266 198,100 141,958 ·203,273 161,446 456,288 5,158,625
Beleased for
publi~~ation
Friday morning, December 21, 1923; not earlier •
19, 192J.
LIABILITIES
{In thousands of dollars)
New York Phila.
Cleve. Rich.
Atlanta Chicago St, Louis Minn. Kans. Cy, IRllas San Fran. Total
29,438 9,941 12,350 5, 756 4,430 15,228 5,012 3,498 4,556 4,194 7,863 110,156
59,800 18,749 23,495 11,288 8,942 30,398 9,665 7,473 9,488 7,496 15,263 218,369
. RESOURCES AND LIABILITIES OF THE F.EDERAL RESERVE BANKS AT CLOSE OF BUSINESS DECEMBER
Federal Reserve Bank of
paid in
Ca.pi tal
Surplus
Boston
7,890
16,312
Deposits:
Government
607
Member bank - reserve account 124,219
Other deposits
283
Total deposits
125,109
F.R. notes in actual circulation 234,108
F.R. Bank notes in circulation net liability
Deferred availability items
All other liabilitiea
TOTAL LIABILITIES
62,100
1,342
768
3.781
216
685
893
721
853
319
530 1,218
743
11,334
669,767 113,177 158,337 6o,955 55,912 266,496 65,920 47 ,J56 76,775 59,425 151,257 1,849,596
10,926
205
395 1,160
151 1,632
527
536
798
749 4,560
21,922
684,474 114,34o 160,390 61,845 56,279 268,849 67,300 48,422 78,791 6o,493 156,56o 1,sea,s52
422,165 229,829 253,563 108,119 144,932 4o9,723 77,478 65,143 67,494 55,118 228,764 2,296,436
477
477
133)~0 61,617 63,391 6o,4So 25,415 76,522 37,106 16,103 41,573 31,172 45,517
5,253
2,155
2,096
1,613
1,828
2,546
1,539
1,319
1,371
2,496
2,321
654,456
25,879
446,861 1,334,590 436,631 515,285 249,101 241,826 803,266 198,100 141,958 203,273 161,446 456,288 5,188,625
Eatio of total reserves to deposit
and F. R. note liabilities
combined, per cent
73.5
82.6
Contingent liability on bills
purchased for foreign
correspondents
6,189
17.0
1,538
74.5
1,932
66.9
930
58.2
733
83.1
2,~6
62.4
787
77.9
61.2
6os
50.8
644
75.2
1,270
75.7
17.886
FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION
·F. R, notes outstanding
299,393
F. R. notes held by banks
25~285
F.R. notes in ar.tua1 circulation 234,108
705,941 248,534 276,057 116,147 16o,o4o 455,146 91,441 67,744 79,911 59,720 273,763 2,793,837
283,776 18,705 22,494 8,028 15,108 45,423 13,963 2,6ol 12,417 4,Eo~ 44,999 497,4ol
422,165 229,829 253,563 108,119 144,932 4o9,723 77,478 65,143 67,494 ~5,118 228,764 2,296,436
DISTRIBUTION OF BILLS, U, S. CERTIFICATES OF INDEBTEmESS .AND·MUNICIPAL WARRANTS BY MATURITIES
Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days
!~oG ;~n~:~s
Over 6 months
Total
Bills discounted
522,264
63,229
77,781
58,171
27,551
1,200
750,196
Bills bought in open market
99,634
68,180
88,448
58,6lto
7,477
322,379
U. S, Certificates ·of indebtedness
1,924
l ,022
5,026
320
8,292
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RslJaS3d for publication, Friday morning, December
St.
21, 192}; not earlier.
F.EDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, DECEMBER
385Jd.
19, 1923.
(In thousands of dollars)
Federal Reserve Agent at
RESOURCES
Federal Reserve notes on hand
Federal Reserve notes outstanding
Collateral security for Federal
Reserve notes outstanding:
G'old and gold certificates
Gold-redemption fund
Gold fund - F. R. Board
Eligible paper Amount required
Excess amount held
3ostan New York Phila.
Cleve.
Rich.
Atlanta Chicago
297,740 44,000 46,820 28,430 70,752
705,941 248,534 276,057 116,147 160,040
78,750
259,393
Total
336,664
126,o4o 23,990 9,360 28,853 25,029 56,400
455,146 91,441 67,744 79,911 59, 720 273, 763 2, 793,83 7
327,0~4
7,391
10,630 13,052
113,751
4&:- 3,026 1,262 2,52S 4,005 17,733
376,645 36,000 33,000 27,360 15,500 210,921 1, 699,610
653.392
70,033 41,785 15,430 49,723 32,324 45,104
72,199 65,963 54,092 43,929 76,163
36113 7
25,068
365,737
7,
552
43
'579
4,531
19,655
6,215
54,259
16,487
4,503 117,454 3,159 53,275
602,039 1,327,076 549,227 652,209 277,211 397,047 1,090,591 226,527 149,679 196,227 169,537 652,505 6, 790,075
35,300
9,956
123 ,ooo
2,tt.oo
235,531 14,000 8,730
14,135
2,923 5,472
21,211 16,677
371,000 151,3&9 199,000 69,295 76,000
Net ~~ount of Federal Reserve notes
received from Comptroller of the Currency
333,143
l,003,6ol 292,534 322,377 144,577 230,792
TOTAL
St.Louis Minn. Kans,Cy. Dallas San Fran.
f.,'
L I AB I L.I TIES
Collateral received from
Federal Reserve Bank:
Gold
Eligi b1e paper
TOJ'AL
5Gl,l8b 115,431 77,6o4 108,764 54,749 330,163 3,630,501
173,256 633.742 132,566 221,965 72,213 83,372 385,113 49,656 52,314 30,136 26,896 223,659 2,140,445
90,640 1Z9,653 74,127 107,367 60,416 82,363 124,292 61,440 19,961 57,275 57,892 93,683 1,019,129
6o2,039 1,827,076 549,227 652,209 277,211 397-.047 1,090,591226,527 149,379 196,227 169,537 652,505 6,790,075
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