The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
STATEMENT FOR THE PRESS Released for publication Friday morning, Dec. 7; not earlier. Federal St.. 3830 Joard, Raser~e Dece~ber 6, 1923. CO:NDITION OF FEDZ'RAL RESERVE BANKS A reduction of $43,100,000 in holdings of d iscountcd bills, offset ~n part by. increases of $9,400,000 in acceptances purchased in open market and of $~,800,000 :m u. S. Government securities, together with relatively small net changes 1n cash reserves, Federal reserve note circulation, and deposit liabilities, are sho~n in the Federal Reserve Board 1 s weekly consolidated statenent of condition of tbs J::',;;js:ral reserve banks at close of business on December 5, 1923. The res;;rve ratio remained unchanged at 76.4 per cent. All Federal reserve banks except those at Cleveland, Minneapolis and Kansas .City report smaller holdings of discounted bills than the week before, the largest reduction - $12,000,000 - being shov.n by the Boston reservt:; bank. Decreas~s of $9,600,000 are reported by Chicago, of $7,700,000 by New York, of $7,100,000 by St. Louis, of $6,4oo,ooo by San Francisco, and of $6,000,000 by Philadelphia, and a combined decrease of $3,700,000 by Richmond, Atlanta, and Dallas. Increases reported by Cleveland, MinnGapolis, and Kansas City aggregate $4,400,000. Of the total reduction of $48,100,000 in holdings of discounted bills, $23,60C,OOO represents paper secured by U. S. Government obligations, which on December 5 aggragated. $359,100,000. Of the latter amount, $227,000,000 was secured by Liberty and other U. S. bonds, $119,500,000 by Treasury notes, ~~d $12,600,000 by certificates of indebtedness. Increases in Federal reserve note circulation, shown by the San Franciscc ar~ Boston reserve banks, amount to $S, 700,000 and $3,700,000, respectively, and aggregate increases reported by seven other reserve banks - to $6,500,000. Reductions of $5,600,000, $3,200,000 and $1,800,000 in Federal reserve note circulation are reported by Cleveland, New York and Philadelphia, respectively. Total gold reserves shown a gain for the week of $5,700,000. Declines of $30,900,000 are shown for the New York bank and of $2,200,000 for the Dallas bank. TI;eprincipal increases ingold re3erves are reported byChica.go, Boston, St. Louis, R~cbmond, and San Francisco. Reserves other than gold declined ';;y ~5,300,000, practlcally offsettin~ the net increase in ~old reserves, while non-res0rva cash increased by $9,700,000. A summary of changes in the principal assets and ·lia':Jilities of the :res;;:rve banks, compared with a week and a year ago, follows: Increase or Decrc;ase In mill ions of dollars since ~o?·> Nov. 28, 1923 Dec. G ~~ Total reserves . . . . Gold reserves + + Total earning assets • • • Discounted bills, total • • • • • . • . • Secured by U. S. GovGrnr4ent obligations Other bills dis counted • • • . . . . . • Purchased bills ... .. ... .. United States securities, total Bonds and notes :. • • • • . . • . U. S. Certificates of indebtadness 2lt. 7 72.3 Ft7.5 40.1 2}.6 24.5 + 56.6 + 9.4 + 31.5 + 6.8 + + Federal Reserve notes in circulation + 7·8 3·1 }.0 4.8 l-3 6.y 41.3 15.3 220.5 99-0 1.0 + + + 31.9 Total deposits • • • • • • . Members' reserve deposits Government d ep os its • . . . Other deposits • . • • c. .4 5.7 121.5 + + ..;. + ..;~· 25.4 40.4 ,... 6 . 0..) 1.9 lOS .S Released for. publication Friday morning, December 7, 1923; not tearlier St. 3830a. RESOURCES MiD LIAdiLITIES OF THE TWELVE :FEDERAL RESERVE BANf{S COMBINED (In thousands of dollars) Dec, 5 1 RESOURCES Gold and gold certificates • Gold settlement fund - F. R. Board • • Tot al....gQ!d. held by banks • Gold with Fedt:3ral Reserve Agents • Gold redemption fund • • • Total gold reserve! Reserves other than gold • • • • . .... . . ... ... . .. . . . Total rese,ryes , Non-reserve cash • • • • Bills discounted: Sec. by u. s, Government oblibat ions Other bills dis counted • • • • Bills bOUght in open market Total bi 11 s on hand • I u. s. bonds and notes • u. s, Certificates of indebtedness • Municipal warrants • • • • • Total earning_assets ' • Bank premia es • • • ' • • . 51o"' Redemption fund against F. R. Bank notes • • Uncollected items • All other res ourceB I . .. ... .. ... I . ... ..... . . .. .. . . ... .. .. . . .. .. . .. . TOTAL Rl"SOURCES . • Nov, 28, 1923 Dec . ...h.J92?_ 2')8,094 _616,~1:~ 914, 66S 2,045,210 ~5.91~3,045,792 127' 189 358,847 647,658 1,006,505 2,055,625 56,009 359,566 _r;g 7! 079 946,647 2,104,31+5 60,944 3,118,139 79,516 3,112,436 :._ 84,8_46 3,197,655 6s,46o 3,197, 282 58,754 3,172,981 332,643 387,1&770 411,738 289 ,C04 298,3701,044,633 1,083,385 70,384 711341 20,911 13' 119 _ _ _ 154_ 154 11136,082 1,1671999 56,649 56' 715 3 74,409 330,536 266,827 359,0~ 93 * ,971,772 1($,413 142,389 26 1,2831600 461394 28 643,289 _ _14,602 28 603,579 13,96 7 5,116,331 5 ,09€51 278 5,1811253 110,114 218,369 110,095 218,369 107,265 2151398 30,065 11884,010 21,429 34,803 1, 531,025 22,765 .. 1,9351504 2,252,598 1 ,938, 593 2,246,300 46,976 1 1S43,6Cn - 191527 1,910, lQl~ .. 489 574,347 _25,410 493 5591044 25, 379 191259 540,233 27,772 5,116,831 5,Q9S, 278 5,161,253 t L f.m 2, 780 660,119 _ _12J12._ I A3 I L I T I E S Capital paid in , Surplus • • • . • • • • • • Deposits: Government • . • • . Member bank - ~eserve account Other deposits , ••.. Total deposita F, R. notes in actual circulaticn F. R. Batik notes in circulation net liability . • •.. Deferred availability items All other liabilities • • • • " TOTAL- LI.A.BILITIES • t • i .... 2, 3611222 Ratio of total reserves to deposit and F. R. note liabilities como ined , , , . 76.45s 76.4% 74.J);, Contingent 1iajility on oills purchased for foreign correspondents • • . • • , • 18,3 73 24,655 31,007 *Not shown separately prior to January 1923. c. --·*-"""_,,__ . .,. . ,. , . , .,., . .,. . . ., ,. .,_'" "·,.,. . . . .,. .,.,.,_""'"'H""',-..,.__,,.,...,.,.• -r-11>-""*....,_-·---· -~ ----... .,.....,..~~· .- - '"""~-~ --~-~~-----"C"r-· .-7-------~-~--.,--~-- ~-. putlicaticn Friday morning, December 7, 1923; not earlier. St. 3330b RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AS AT CLOSE OF BUSINESS, DECEl'vffiER 5, 1923. (In thcusands of dollars) · RESOURCES Boston New York Phil a. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total Fedaral Reserve Bank of 172,217 40,230 13,644 5,016 6,651 50,774 4,674 8,822 3,196 11,943 21,123 358,84 7 Gold ar,d· gold certificates 20,555 5 7,447 96,219 40,596 82,600 43,739 18,214 143,333 37,032 29,849 39.874 12,619 46,136 64 7,658 Gold se-ttlement fund - F.R.Board ----·78,002 268,436 80,826 96,244 48,755 24,865 194,107 41,706 38,671 43,072 24,562 67,259 1,oo6, 505 Total gold held by banks 165,566 633.915 176,375 219,248 69,706 63,838 345,337 43,147 46,191 31,454 27,689 233,159 2,055,625 Gold wi',jh F. R. Agents 9,246 4,73'2 6,400 2,423 2,144 5,140 8,309 4,309 2,207 5, 690 2,045 Gold redemption fund 3. 364 56,009 --252,814 Total gold rese:--vee 907,0S3 263,6ol 317,915 120,605 93,843 547.753 89,162 87,069 80,216 54,296 303,782 3,118,139 8,631 4,032 2,613 6,098 6,693 8,689 Reserves other than gold 4,949 25,033 2,101 79!516 918 3!558 6,201 Total reserves 257,763 932,116 272,232 321,947 123,218 99.941 554,446 97,851 87,987 83,774 6o,497 305,383 3,197,655 9,041 17,162 Non-reserve cash 68,460 2,539 3,209 1,3~ 8,352 5,206 6, 764 1,126 3,517 2 , 461 7,697 Bills discounted: tS,do) ~'13 ttl 92,041 38,288 33,118 22,284 23,296 57,261 ~4,661;. 27,082 3,163 15,895 359,0:W Secured by U.S.Govt.obligations 23,998 32,108 11,425 28,327 30,4 79 62,211 4 7,171 41, 34,217 Other bills d iscou.."'lted 16,938 35,285 11,794 35,922 387 ,1-85'1° Bills bought in open·market 32,116 91,980 23,751 28,803 1,959 10,918 39,365 122 41 785 45,436 23,094 298,370 Total bills on hand 90,331 216,129 73,464 90,248 54,722 96,425 143,797 59 J 418 21,643 63,152 Go, 393 74,911 1,044,633 u. s. bonds and notes 3,888 4,559 12,565 9,943 1,341 328 6,939 7,876 7,480 6,280 70,384 9,185 U. s. Certificates of indebtedness 562 18,101 812 38 2 660 236 20,911 5CO MUnicipal warrants 103 51 154 Total earning assets 94,781 238,789 86,170 101,003 56,063 96.806 151, 396 59,418 30,019 70,868 66,673 84,096 1,136,002 Bank premises 4,434 14,163 745 9,839 2,617 2,932 8, 715 1,269 1,935 4,973 1,953 3,140 56, 715 5~ Reddmption fund against F. R. Bank notes 28 28 Uncollected items 58,521 134,949 55,501 57,652 61,302 29.090 81,115 36,423 16,473 38,305 30,040 43,918 643,289 All other resources 1,088 150 276 409 470 467 41 2, 732 14,602 703 4,311 695 3,260 TOTAL RESOURCES 432,811 1,330,146 417,463 494,059 245,056 237,824 801,345 201,766 140,272 202,132 164,912 449,045 5,116,831 Rele~~d ~or -- c. http://fraser.stlouisfed.org/ -··--. Federal Reserve Bank of St. Louis .; - L_,....,._ - ..1. . ~~"~-- ----~-~~------- Released for publi~~ar.ion Friday rr1orning, :Cecember 7, 1923; not earlier. BESOURCES .AND LI.ABILITIES OF THE FEDERAL RESERVE 13.ANKS AT CLOSE OF IUSii:JESS Federal Reserve Tiank of Ca.pi tal paid in Surp:..us Deposits:: Government Member bank .. reserve al~l~Ount Other deposits To tal deposits F. R. notes in a<'.tual circulation F.R. Back notes in circulationnet lia-oility Deferred availability items All other liabilities TOTAL LIA]ILIT!ES Ratio of .total reserves to deposit and F. R. note liabilities combined, per cent Boston New York 94o 124,033 202 125,175 228,186 5, 1923. L I AB I L I T I E S (In thousands of dollars) Cleve, Rich. Atlanta Chir.ago St.Louis Minn. Phil a. 4,427 8,942 29,443 9,936 12,335 5,755 59,800 18 '749 23,495 11,288 7,890 16,312 :CECErvf~E:S. 15,223 30,398 5,012 9,665 Kans. Cy. Dallas 4,548 9,435 3,497 7,473 San Fran, 4,196 7,852 7,496 15,263 Total 110,114 218,369 610 2,707 1,418 1,812 30,065 5,606 2,423 1,380 2,090 1,761 3.339 5,979 685,630 115,542 161,941 65,002 56,o6o 272,870 67,136 47,197 76,400 61,225 150,974 1,884,010 21,429 466 11.6')2 162 928 138 475 536 4,699 703 353 1,115 70,034 49,043 79,193 63,522 159,012 1,935.504 703~261 116,505 165,763 66,558 58,034 279,404 426,837 220,839 239,033 104,015 143,090 406,311 77,695 62,619 65,669 56,724 221,580 2,252,598 489 489 53,981 105,715 49,376 51,239 55,886 21,505 671 54o 37,886 16,332 41,876 29,982 43,029 574,347 25,410 1,474 1,308 l ,358 2,503 2,309 1,267 5,090 2,058 2,194 1,554 1,826 2,469 432,811 1,330,146 417,463 494,059 2~5,056 237,824 801,345 201,766 140,272 202,132 164,912 449,045 5,116,831 82.5 72.9 Contingent liability on bills purl~hased for foreign correspondents 6,368 80. 7 72.2 79.5 1,579 80.9 1,982 753 2,552 66.2 808 78,8 5],8 624 789 50.3 661 80.4 1,303 76.4 18,373 FEDERAL BESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F. R. notes outstanding F. R. notes held by banks F,R,notes in actual circulation 245,603 17,417 228,186 704,161 239,942 266,341 114,195 155,826 449,067 93,082 275,324 19,103 27,308 10,180 12,736 42,756 15,387 426,837 220,839 239,033 104,015 143,090 406,311 77,695 65,157 77.678 60,528 263,163 2,732,743 2,538 12,009 3, 804 41, 583 4so ~ 1 .l~5 6?,619 65,669 56,724 221,580 2,252,5)6 DISTRIBUTION OF 3ILLS, U. S, 6ERTIFIGATES OF INDE:DTEDNESS AND MUNICIPAL WARRANTS BY MATURITIES Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days From 91 days Over 6 months Total to 6 months 506,804 92,000 20,186 113 Bills discounted Bills bought in open market U. S. Certificates of indebtedness M.micipal warrants • 72,584 51,144 92,131 96,973 1 10 31 L 48,257 52,588 25,542 5,665 724 -- -- _- l.. :_ 746,263 298,370 20,911 154 ~------"'-__.......___ ~ · Released for publication, Frid~ t FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE i' ~t. mornir.g, December 7, 1523; not :;.arlier. ( OF BUSINESS, DECEM3ER 38)0d. 5, 1923. (In thousands of dollars) c ~ (·.· f.· Federal ReseT.'V'e Agent at Boston New York Phi1a. Cleve. Rich. Atlanta .Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total RESOURCES Federal Reser;re notes on hand Federal Reserve notes outstanding Collateral security for Federal Reserve notes outstanding: Gold and gold certificates Gold redemption fund Gold fund - F. R. Board Eligible paper Amount required Excess amount held TOT.AL 87,850 245,603 310,720 41,4oO 49,120 27,950 74~432 702,161 239,942 266,341 114, 195 155, 826 126,440 24,390 9,245 30,753 24,054 62,700 869,054 449,o67 93,082 65,157 77,678 60,528 263,163 2,732,743 35,300 17,266 113,000 235,531 7,000 8, 780 2,4ll 27,384 13,486 13,468 371,000 155,889 197,000 6 7,295 2,400 4,438 57,000 11,080 13,052 320,534 7,391 2,067 2,094 3, 798 20,953 117,197 1,139 8,693 336,644 30,000 32,000 29,360 16,500 212,206 1,617,894 103,730 49,935 18,966 46,224 32,839 30,004 677,118 68,246 63,567 47,093 44,489 91,988 80,037 472 16,468 25,852 44,479 4,172 39,882 9,455 8,827 318,392 40,587 851 10,294 117,053589,350 1,832,095 522,135 622,389 265,167 390,256 1,064,456 220,009 140,031 202,577 170,962 633,505 6,652,932 L I AB I L I T I E S Net amount of Federal Reserve notes received from Ccmptroller of the Currency 333,453 1,012,881 281,342 315,461 142,145 230,258 Collateral received from Federal Reserve Bank: Gold Eligible paper TOTAL 575,507 117,472 74,402 108,431 84,582 325,863 3,6o1,797 633,915 176,375 219,248 69,706 63,838 345,337 43,147 46,191 _1_8......:5,_29.:....;9_6_4_,_4_1_8_8_7;...'6_8_0~53...:.,~3_16__;9;_6..:..,1_6__ o__ 14..:..3.:....'6_1_2--=..:59~,390 19 ,4 38 31,454 27,689 233,159 2,055,625 62, 69 2 58, 691 74, 48 3 995, 510 589,350 1,832,095 522,135 622,389 265,167 390,256 1,o64,456 220,009 140,031 202,577 170,962 633,505 6,652,932 ~----------------------------- c. • •,