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STATEMENT FOR TFE PREf,S St. 3919 Federal Reserve Board, January 31, 1924. Released for publication Friday morning, Feb. 1; not earlier. CONDITION OF FEDERAL RESERVE BANKS Further declines in Federnl reserve note circulation and in total earning nssets, amounting to $27,300,000 and $22 1 800,000 1 respectively, nlso decreases of $8,700,000 in cash reserves and of $27,200,000 in deposit liabilities, are·shown in the Federal Reser7e Board's weekly consolidated statement of condition of the Fe~eral reserve banks at close of business January 30, 1924. The reserve ratio rose from SO. 4 to S 1. 3 per cent. Holdings of bills dis counted declined by $18,500,000 during the week, the New York bank showing a reduct ion of $20,400,000, and Cleveland and Atlanta declines of $4,500,000 and $4,300,000, respectively. An increase of $11, 100,000 in dis counted bills is shown for Boston, of $4,300,000 for San Francisco, and of $3,700,000 for Philadelphia. Paper secured by U. s. Government obligations declined during the week from $272,900,000 to $259,300,000. Of the latter total, $147,900,000 was secured by Liberty and other tJ. s. bonds, $101,6oo,ooo by Treasury notes, and $9,.800,000 by certificates of indebtedness. Acceptances purchased in open market show a reduction of $4,200,000 and Government security holdings - a. nominal decrease of $100,000. The New York bank reports an increase of $10,900,000 in holdings of acceptances, but 'this was mbre th:>.n offset by substantial decreases shown for Chicago, San Francisco, Cleveland and Phili.delphia. Declines in Federal reserve note circulation are reported by all Federal reserve banks, except Phil~delphia, which reports m1 increase of $1, 6oo,ooo, the first in... crease in Federal reserve note circulation reported since the statement of December 26 last year. The Chicago bank shows a reduction of $9,000,000 in its note circulation, New York- a reduction of $5,900,000, and San Francisco a reduction of $5,000, ooo. Gold reserves declined by $8,900,000 during the week, reserves other than gold increased by $300,000, and non-reserve cash declined by $3,700,000. A surrmary of chmges in the principal assets and liabilities of the resene banks during the week and the year ending January 30, 1924, follows: Increase or decrease during Total reserves Gold reserves ... .. ' Total earning assets . . , .. Bills discounted, total • . . . . . . . Secured by U. s. Government o'bligations Other bills discounted • • . - $ 8,700,000 + $ 35,800,000 S,9CO,OOO + 66,900,000 22,800,000 224,700,000 18,500,000 74,900,000 13,700,000 118 1 2001 000 4,800,000 + 43,}JO,OOO - Bills bought in open market U, S, Government securities, total • Bonds • . " • , .. , . • .. . . 4' 200,000 . . Treasury notes • • • • . . • Certificates of indebtedness . • + + Federal Reserve notes in circulaticn Total deposits • • • . . . Members 1 reserve deposits Government deposits •• Other deposits • • • . • ., c. 100,000 1,400,000 900,000 4C0,000 - - 83,200,000 2331 0001000 11,300,000 55,700,000 166,000,000 - 181,200,000 27,200,000 7,200,000 + 20,200,000 200,000 + 14,200,000 5,100,000 91100,000 27,3CO, 000 ... + - Released for :publication Friday morning, February l, 1924. OF THE St. 3919a RESOURCES AND LIABILITIES FEDERAL, RESERVE BANKS COMBINED . (In thousands of doll<:.rs) ~~ 30, 1924 Jan. 23, 192~ Jan. 31,192,1 T"~SET.NE RESOURCES Gold with Federal reser·Je agents • • . • . Gold redemption fund with U. S. Tre.:.sury • Q:_ol_l)__ h_e.J,d exclusively against F.R.notes 2,174,677 2,127,175 50,931 2,178,106 2,103,477 _52, 63g 2,156,109 _---.:...u., 47 ____ 573,226 oG6 2,221, 7l~3 Gold and gold cert ific,::.tes held 1Jy banks __221,3678~/ 537,327 408,226 561,403 292,664 Total _gold reserves . • Reserves other than gold , • • • 3, 142-;--tl-Tl.t;J 3, 151,662 3,075,810 Gold settlement fund with F • R. Board • , • • • • • • • • Total reserves • Non-reserve cash . . .. Bills discounted: Secured by U, S. Gc.·ernment obligations • Other bills discounted • • , • • • • • .. . .. Total bills discou.ntad Bills bought in open m~1.rket • • • U. S. Government securities: Bonds . • • . . . . . . , Treasury notes • • • • • • Certificates of indebtedness .. ... .. . Total U. S. Go1ernment securities MUnicipal warrants a ,.. .. • ,. ' Total earning assets • • 5% Redemption fund - F. R. B~k Uncollected items • , • • • Bank premises • • • • • All other resaurces • • TOTAL RESOURCES • • . • . • . • notes • , • • • . . .. . ., }9411.7~C 120, --3,262,911 119,923 ----3,271,585 59,661 63,331 259,280 263,027 272,927 267,851 219,769 522,307 540,773 597,251 271' 792 275,997 183,566 18 '554 77,355 ~m 1201772 20,014 76,455 24,457 29,898 *133,054 _!.90,78J. 353,735 10 120; 926 10 914,831 28 531,163 54,594 19,027 9371711 28 591,436 54,578 17,120 1,139, 552 311 530,431 46,471 15,180 4,842,265 ---5,013,540 4,935, 7G9 2,022,514 434 2,049,834 439 2, 203,701 3,105 1, 927,714 40,941 22,430 1,934,949 1,913,~~65 61,134 46,014 22,163. 31,583 1,991,085 484,338 • 110,043' 220,915 12,93~ 2,013,296 1, 991,0G2 523,511 110,035 220,915 12, 759 479,551 107,703 ~,049 4, 842,265 4, 935,789 5,013,540 16,843 17' 010 34,390 151,322 3,227,132 54,463, 377,4E:~: LI ABI DI TI ES F. R. notes in actual circulation • , • F. R. Bank notes in circulation - nat , Deposits: Member bank - reser'ie account •• Government • • • . . • Other deposits •• , •. . . .. . . Total deposits • • . Deferred availability Capital paid. in • • . Surplus , . . . . .. . All other liabilities . .. items , • . . . •••• . .. . • , •••• . . , . . . . . , TOTAL LIABILITIES • • • ... 218,369 Ratio of total reserves to deposit and F. R. note liabilities combined • • • • Contingent liability on bills purci1ased for foreign correspondents • • • • . . • c. *Incluoing Victory notes. Released f.:>r publication on Friday Lcrr~~- :, '5c cru.ary 1, 1924; not aarlier. St. 3919b. RESOU?C~S JUID LIABILITIES OF THE FEDERAL ltESERVE :BANKS Af3 AT CLOSE OF BUSUi'ESS, JANUARY )0, 1924. {In thouscmds of j olL,rs) ~ f . r RESOURCES Cleve. Rich. Atlanta 3oston New York Phil a. Federal Reserve Bank of 643,310 168,511 198,334 63,052 93,287 176,168 GoV with FeJeral Peser·.re ~ents 3,6o8 1,946 4!635 GoV redemption fund wit:1 U.S.Tre:;.s • 6,547 7 !690 5,937 Gold heLl exclusi <te1;.y :::tgainst '"_ F. R. notes . Go1J settlement fund with7F.R._.3oard tfou and i:!:old cert if .A held by banks Total P;;olj reserves I)aser -es other than go1i Tot.:U reserves Non-reser7e cash Bills JiscQUlted: Sec. by u. SA G07t. ob1 igat ions Other bills discounted Total oi11s discounted Bills bousht in open m~rket u,. S. Go7e:rnment securities: . Bonds Tre.·-..sury notes Certificates of indebtedness Total U. S4 Gmrt .. securities 182,715 57,991 21,136 2fil,842 - e,953 270,800 3,968 19' 613 17,314 651,000 174,,443 200,830 107,830 24,549 95,530 204,677 36,669 13,050 963,507 235,666 309,710 :22,206 5,567 11,772 995.713 241,233 321,482 13,046 1,990 4,195 91,002 32,493 14,244 10,840 36,927 27 ,0_38 105,246 544 5,947 2,005 1,202 6,303 6,058 s,496 14,063 50, 6o3 67,687 96,895 39,320 12,414 6,802 7,292 114,309 116,601 4,524 9,900 118,833 126,501 6,942 3,149 17,201 19,;_E.G 14,231 26, CJ37 5% Redemption Fund - F.R.Bar..k notes Uncollected itens Bank premises All other resources TOTAL c. 2zJ11 St.Louis Mim .. Kans .Cy. D:;.1l~"\.S s.~n .Fr;w.. Total 66,624 55,082 48,734 20,294 208,835 2,127,175 4,066 1, 750 ~5. 122 50,9jl 2, 782 3_, 5:27 ~dO'( 337,655 70,161 105,174 24,143 4,736 49,972 542,601 99,040 14,856 13,785 557,657 112,825 4,842 9,308 11,173 34,614 24,196 35,253 59,449 39' 179 746 34,514 13,949 25,230 43,333 31,432 30,032 41,415 45,525 45,78 7 2,313 11,740 9l.8 Il,514 3,523 1,191 1,183 920 251 1,213 1,077 4,426 6,323 3, 776 882 21,423 15,955 3,294 2,541 14,530 747 18,859 1,817 Municipal warrants Total earning-assets Chicago 384,344 57,864 52,800 16,881 43,474 9,042 3,279 83,787 99,553 1,408 5,323 85,195 104,876 [Bo 3,044 22,044 214,007 2,178 ,1cb 9,336 12,162 43,542 6 2 35,78 573,~f~ 2 ' 74.l"391, 272,~3,14&,~i:7 't, II 50,434 277~362 3,262,911 59,661 3,841 , 4, 646 ~~"7 19,270 34,406 259,280 263,027 16,213 36,197 9,343 53,676 2,391 75 42,427 27,948 522,307 271,792 1,372 14,341 7,875 28,222 1, 708 7,635 332 6,9S7 1,290 5,231 785 7,194 930 626 914 11,478 2,042 18,584 77,355 24,8i33 1,667 3,750 8,609 7,924 13,520 120.772 1, 779 10 3f, ,802 72,461 1(:)9, 912 48,168 4,313 128 111,380 48,020 49,748 48, 6o1 13,641 1,111 2,528 9,CI37 2,011 262 411 309 94;838 51,132 60,078 25,684 2,6i9 447 399,838 1,306,203 387,454 473,633 224,654 222,331 "15" 10 108,493 67,328 8,264 343 41,592 27,854 28,429 11,220 1,410 2,272 4, 734 175 59' 694 95,144 914,881 28 23,881 31,676 1,911 4,595 626 5,420 36,528 2, 773 4,161 531,163 54,594 19,027 44,831 28 751,393 189,273 131,965 189,698 145,209 420,614 4,842,265 r····. j k 9' }4ZL . Q - ~ .•~ •. • ;;:: r:. ~-:Released · • tf tr·. for publieation Friday nJOrning, February 1, 1924; not earlier. RESOURCES AND LIABILITIES OF THE FEDERAL BESERVE BANKS : Federal Reserve Bank o~ iJ'.R. notes in actual ~ir~ulation 1F.R.Bank notes in circulation- net t .u::l)O n....· •t SJ. i'!eraber bank"! - reserve account t f Other deposits Govex·nmen t Total d epo sits Chil~ago JANUARY 30, 1924. St.Louis Minn. Kans. Cy. Dallas San Fran. Total 199,937 383,563 192,606 219,341 89,430 1}0,584 362,642 70,468 61,920 62,753 46,086 203,184 2,022,514 434 434 125,681 2,576 16o 722,689 115,700 165,693 Ll-,?.65 4,370 5,204 280 11,766 974 737,720 120,350 171,871 93,504 44,216 45,324 29,454 9,941 12,338 59,929 19,927 23,691 lu4 1,068 2,033 1~8,417 46,886 7,901 16.390 307 TOTAL LIABILlTIES 399,838 ~· CLOSE OF EUSI NESS L I ABI L r·T-I ES (In thousands of dollars) Boston New York Phila. Cleve. Bic.h. Atlanta f; Deferred avai lability items paid in t Surplus fAll other liabilities f Capi "val 1 AT . S• [ '' ~: St. 3919t~ Ratio of total reserves to deposit and F. R~ note liabilities C'.Ombined, per cent 82.5 67,146 55,466 279,011 4,137 3,569 2,788 122 141 1,977 71,405 59 176 283 '776 45,642 18,018 58,129 5.-791 4,430 15,046 11,672 8,950 30,426 . 714 1,173 :t,374 71,139 2,975 803 •74,917 28,232 5,011 10,072 573 1,306,203 387,454 473.633 224,654 222,331 751,393 189,273 88.8 77 .. 1 t 82.2 66.7 86.3 77 .. 6 44,759 77 ,14o 57 ,287 147 ,003 1 9271 711+ 1,442 2,576 2,402 4,637 4o,941 4so 327 4,805 22~430 595 46,681 80,311 60,016 156,445 1,991,085 11,235 31,950 25,006 36,196 484,338 3,494 4,532 4,215 7,890 110,043 7,484 9,496 7,577 15,301 220,915 1,151 12,936 656 1,875 1,598 131,965189,698 145,209 420,614 4,842,265 t 78.. 4 Contingent liability on bills purchased for foreign ~orrespondents 885 748 578 17.1 73-3 731 612 i,208 81.3 16,843 OUTSTANDING AND IN ACTUAL CIRCULATION 219,355 704,594 231,038 246,726 101,766 146,020 420,327 86,398 67,588 73,478 50,045 257,909 2,6o5,244 19,418 321,031 38,432 27,385 12•336 15,436 57,685 15,930 5,668 10,725 3,959 54,1.25 582,730 199,937 383,563 192,6o6 219,341 89,430 1}0,584 362,642 70,468 61,920 62,753 46,086 203,184 2,022,514 DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF INDEBTEDNESS AND lmiCIPAL WAHRANTS BY MATURITIES From 91 days Total Within 15 days 16 to 30 days 31 to 6o days 61 to 90 days to 6 months Over 6 months 25,669 2,290 341,181 44,-481 . 522,307 4o,764 67 ,922 2,652 103,186 271.792 31,278 62,372 72,304 24 8 7 3 3,034 10,915 120 120 10,644 10 lO FEDERAL llESERVE IDTES F. R. notes outstanding F. R. notes held by banks F. R. notes in actual circulation · Bills discounted , 'Bills bought in open market : U. S. Certifi~ates of indebtedness . ;Munic.ipal warrants . w. " . ..) 14_., 3t. for pub1 ici.l.tion Frid::zy morning, February 1, 1924, not earlier • Jj 19d. .FEDERAL RESERVE AGENTS 1 ACCOUNTS AT CLOSE OF BUSINESS, JANUARY 30, 1924. (In thousands of dollars) Cle7e. Rich. Atlanta Boston New York Phila. Federal Reserve Agent at RESOURCES 28 2, o6o 53, 640 6 3, 9 10 37,145 73,687 !Federal Reserre notes on hand 99,700 704,594 231,038 246,726 101,766 146,020 poedera1 Reser7e notes outstanding 219,355 ~ollater~l security for Fe]eral i Reser-re notes outs tanS ing: f 2,400 8,780 35,300 235,531 14,000 Gold and ;old certific:ites f'' 12 622 , 6,387 7,863 13,104 2, 757 fund redemption GoB 31' 779 I ..,.. 376,000 141,289 177' 000 60,235 ~4,000 133,000 .r. R. 3.o-~rd i. Gold fund Eligible paper 61,234 62,527 47,842 33' 714 52, 733 43,15 7 .A.?.cunt required 4,56,2 20,773 3!216 24!52~ Excess arr:ount heLl 7!311 73 !~~2 - I TOTAL Gold Eligible paper TOTAL c. 149,500 420,327 St. Louis Minn. K2.lls. Cy. Dallas Sm Fran. Total 24,300 86,398 12,945 67,588 33,033 73,473 31,102 72,320 943,402 50,045 257,909 2,605,244 u, 130 13,052 1,030 41,000 4,374 44,360 7,391 327' 534 3,403 19 ,025 114,542 9,500 139,860 1,635,049 12,506 5,155 24,744 11,232 7 J!39 376,645 3.994 51,500 35,933 57,8~6 19,774 1~,~10 29,751 21,371 49,024 31,920 1_qs,o6g 236,363 559,180 1, T/0,240 523,932 531,961 247,988 375, C)O 1,047,930 217,006 153,276 191.271 152,563 620,058 6,440, 753 Net amount of Feder.-::.1 Res~r :e notes recai7eJ from Comptroller of the Currency 319,055 .Col12.ter;).l recei7ad from Fejer.':l.l Reser';e Bank: C~1icago 176,1~8 b},9b5 . 986,654 239,673 310,696 1}6,911 224,707 569,827 110,698 80,533 106,511 &1,147 330,229 3,543,646 643,310 168,511 198,884 140,276 65,743 72,3~1 }34,344 93,809 55,032 17,ob1 20,294 208,&5 2,127,175 )1,122 80,944 764,932 63,052 46,025 93,237 57,296 u6,624 39,684 --~~~----~~--~~~~~~----~~~~~----~~~~~- 4£,734 36,026 ~59,183 1, T70,240 523,932 581,961 247,933 375.290 1,047,930 217,006 153,276 191,271 152,563 620,053 6,440, 753