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ST.ATE~vlENT
St. 3936.
Federal Reserve Board
February .14, 1924.
CONDITION OF FEDERAL RESERVE BANKS
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Increases of $59,10C,OOO in holdings of discounted bills and of $21,800,000 in
Federal reserve note circulation, together with a decline of $13,500,000 in cash
reserves, are shown in the Federal~rve Board 1 s weekly c-.onsolidated statement
of condition of the Federal reserve banks at close of business February 13, 1924.
An increase of $54,4oo,OOO in holdings of discounted bills is reported by the
Fed.eral Reserve Bank of New York, of $19,000,000 by Cleveland,. of $4,100,0()0 by
Bi~lu:nond, and an aggregate increase of $1,300,000 by Kansas City and Dallas. These
increases were partly offset by aggregate liquidation of $19,700,000 shown for the
seven remaining banks, princ.ipally San Franeisco, Atlanta, and Minneapolis. Of the
total increase in the holdings of discounted paper, $55,500l000. was in paper secured
Government obligations, '~ir.h total ed $297 ,6oo,OOO at the end of the report week..
Of this amount, $164,600,000 was secured by Liberty and other U. S. bonds,
$127,800,000 by Treasury notes, and $5,200,000 by certificates of indebtedness.
Acceptances purchased in open market show a net reduction of $5,300,000 for
the week,. an increase of $6,300,000 at the New York bank being more than offset
by reductions reported for most of the other banks. Holdings of tf S. Go'V'ernment
securities increased by $2,600,000 during the week.
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FOR TEE PRESS
Released fpr pub1icaUon
Friday morning, Feb. 15;
not earlier.
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Increases in Federal Reserve note circulation of $12,200,000 and $10,4oO,OOO,
respeetively, are reported by the Federal reserve banks of Cleveland and Pbila-.
delphia, and of $2,800,000 by Minneapolis. The New York Bank shows a decrease of
$3,200,000, Richmond a decrease of $1,200,000, and Dallas a. de~rease of $1,4oO,OOO.
The remaining banks report relatively small changes in note cir~ulation.
Gold reserves declined during the weak by $11,000,000, Reserves other than
gold by $2,500,000, and Non-reserve ~ash by $5,000,000.
A surr.mary of ~hanges in the principal assets and liabilities of the reserve
banks during the week and the year ending February 13, 1924, follows:
Increase or decrease during
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Total reserves .
Gold reserves
Week
- $13,500,000
- 11,000,000
Year
+ $26,500,000
+ 49,800,000
Total earning assets .
Bills discounted, total • . . . . , • •
Secured by U. S. Govermnent obligations
Other bills disc.ounted • .
+
+
+
+ 56,3QO,OOO
59,100,000
55,500,000
3,600,000
+
Bills bought in open market
• • .
239,800,000
107,100,000
131,200,000
24,100,000
5,300,000
2,6oo,ooo
100,000
1,900,000
800,000
+ 93,600,000
- 226,300,000
- 11,300,000
53.500,000
- 161,500,000
Federal Reserve notes in c.irculation
+ 21,800,000
204,~0,000
Total d epo sit s . .. • . • • •
Members' reserve jeposits
GovermnerJ.t deposits • . .
Other deposits • • . . . .
+ 18,6oo,oco
58,500,000
49,300,000
6,600,000
2,600,000
U. S. Government securities, to tal
Bonds • . . . . • . . . . . .
Treasury notes • . . . . . . . .
Certificates of indebtednes3
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+
+
+
+ 21,200,000
1,300,000
1,300,000
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·Released fo:r pu.blication Friday morning 1 February 15, 1924.
St. 3936a
RESOURCES AND LI~ItiTIES
OF THE .1!'\':EL VE FEDERAL RESERVE BANKS COl\1BINED
(In thousands of dOllars)
Feb. 13. 1924 Feb. 6. 19~ Feb. 14.1923
RESOURCES
·2,144,036
Gold with Federal reserve agents .. • • • • 2,139,913
2,097,830
60,120
57,815
Golo redemption fund with U. s. Treasury •
50,312.
2,2c4,156
2,148,145
Qold held exclusivejx_§gain~t F.R.notes
2,197,728
Gold settlement fund with F. R. Board ••
572,152
610,033
553,784
Gold and gold certificates held by bankS •
__J_Qg,l8_2_
~1,115
376,750
To.t~:~-1.. g_gld reserve!_ • • , • .
3,078,497
3,128,262
3,139.293
J?P-serves other than gold • .
140,464
119,646
117.224
Total reserves • •
. ., 3,245,486
3,218,961
3,258,939
Non-reserve cash • • , • • • , . . • • • •
56,240
67' 789
51,160
Bills discounted:
Secured by U.S.Government obligations
428,724
242,085
297,561
'Other bills d iscounte<:l • •
, • •
224, 7.!2,
245,211
248,785
Total bills discounted • • . ' ' ..
546,346
487,296
653,439
Bills bought in open market
278,079
184,476
283,399
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u'. S, Gov~rnment securities:
Bonds • .. . . . . . .. ., . ",
18,234
.
29.532
18,353
Treasury notes • . . . • • . . . .
80,261
78,401
*133, 708
Certificates of ind ebted.ness •
28,760
190,283
__E7,9o4
Total U. S. Government securities • •
}.27 ,255
124,658
353,523
Municipal warrants • • • ,
. ' ..
10
951,680
Total earning assets •
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1,191,438
895,363
28
5% Redemption fund - F. R. Bank notes • •
28
311
Uncollected items • • .
562'
725
676,813
(a)504,353
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Bank premises , • • • !' • ' , •
54,732
54,614
46,777
20,088
All other resources
.
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___±6,045
TOTAL RESOURCES • • • •
4,885,899
(a)4, 788,774
5,218,134
L I AB I L I T I E S
F. R, notes in actual circulation ••• , 2,039,203
2,243,603
F. R, Bank notes in circulation - ,net • , .
418
3,074
Deposits:
Member bank - reserve account , • • , • 1,915,232
1,964, 561
1,893.988
Governnent • • • • • • • .
38,250
43,492
36,960
Other deposits . • • • • • • . , . • •
21,365
22,639
20,017
Total deposits •• , •• , ,
1,972,209
1,953,6o3
2,030,692
Deferred. availability items , • , • • • •
529,687
(a)4 73,584
6o2,o78
Capital paid in • , • • , • • . •
110,357
110,005
108,373
Surplus • • . , , • .• • . • •
220,915
218,369
220,.915
All other liabilities • • • • , • • •
__p,l45
12,816
13,110
TOTAL LIABILITIES • .
4,885,899
(a.)4, 788, 774
5. 218, ·134
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Ratio of total reaerves to deposit and
F. R. note liabilities combined • •
80.9
Contingent liability on bills purchased
for foreign correspondents • • • , ••
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*Includins Victory notes.
(a)Revised figures.
16,305
31,888
Releasee for p~blication on Frid~ morning, February 15, 1924; not earlier.
St. 3936o.
RESOURCES .AND LIABILITIES OF .THE FEDERAL RESERVE BANKS AS .AT CLOSE OF BUSINESS, FEBRUARY 13, 1924•
(In thousands of dollars)
RESOURCES
Fet1eral Reserve Bank of
Boston New York Phila.
Cleve. Rich. .Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Total
Gold with Federal Reserve agents
170,181 6o},209 183,438 2o4,364 63,210 105,239 384,135 68,359 58.,511 54,261 20,258 224,748 2,139,913
Gold redemption fund with U.S.Treas. 10,966
9,927 9,395 2, 710 2,168 2,719
5,952 2,598 2,588 2,454 1,962 4,376
57,815
Gold held exclusive!~ ~ainst
181,147
F. R. notes
Gold settlement fund with F.R.Board 74,426
Golcl t.nd .:;old certif. held by banks 18.929
Total gold reserves
Reserves other than gold
Total. reserves
Non-rese~ve cash
Bills discounted:
Sec. by U. s. Govt. obligations
Other bills discounted
~~1
bills cliscountej
Bills bm1ght in open market
G.::;v e:'nr;1en t securities:
Bonds
T!"easu:ry notes
Certi:.:'icutes of indebtedness
u. s.
TotuLU•
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Goyt. securities
51~ Redemption fund - F.R.Bank notes
Uncollected items
Bank premises
All other :resourdes
TOTAL
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14,917
11,264
26,181
24,939
544
5,244
2, ll7
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192~833
30,743
37,669
261,245
4,267
265,512
2,134
207,074
88,267
12,645
307,986
10,785
318,771
3,161
65,378
36,546
6,722
1C6,646
4,540
113,186
3,104
107,958
13,527
7,418
128,903
11,053
139,956
6,107
143,078 28,966 . 32,957 13,984 1,926
19 !540 7,733 20,893 25,494 ~,156
162,618 36,699 53,850 44,478 36,082
78;136 21,503 36,708 2, 776 9, 704
390,087
115,271
53,516
558,8 74
14,471
573,345
7,274
70,957
26,627
4, 722
102, 3o6
14,320
116,626
4,664
61,099
17,371
~, 130
87,600
1, 259
88,859
627
56,715
38,724
3,245
98,684
5, 310
103,994
3,057
22,220 229,124 2,197,728
12,776 46,643 553,784
12,330 22,968
376, 750
47,326" 298,735 3,128,262
6,544 4, 742 117,224
53,870 303,477 3,245,436
2,617
5l,l6o
3,516
21,500 10,653
912 3,106 1,310 8,252
34,074 23,062 13,059 25,330 7, 720 32,459
55,574 33,716 13,971 33,4 36 9,030 40,711
31,308 1,630 3,059 3,219 41,080 23,957
4,426
1,202
7,123
1,191
170
918
332 1, 779
549
'], 192
7,038 5,264 11,582
8,879 18,951 11,624 1,230 1,270
922 1,065
682 1, 334 1,030 2,295
2,042 3, 792 1,033 1,232
832
5,052
7, 2~9
17,300 21,542 16,334 3,454 2,672 16,670 1,8o4 3,870 8, 754 5,073 13,817
25S, 054 79,744 106,392 50,708 48,458 103,552 3 7,150 25,900 45,469 5f, 183 73,545
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7,905
59,025
!Qt_;tl earning as sets
·',
274,502
8,421
282,923
3,875
61}, 136
52,863
18 7!456
853,455
31,512
884,967
11,024
-28
297 t 561
248,785
546,346
273,079
13 t 234
30,261
23, 760
127,255
0_; 51 I 680
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28
562, 725
54,732
20 ,osc _
61, 7(Jj 33, 754 12,033 34,427 25,438 59,290
8,264 1,414 2,367 4,595 1,911 2, 785
143
746 5! 309
172 5, 304
41118
339
406,232 1,282, 754 402,742 491,497 221,275 226,611 754,483 193,780 135,090 192,2SSi 147,356 431,791 4,055,899
55,949
4,312
112,967 5_3,918 53,252 51,043 28,945
13,653 1,111 91109 2,528 2, 683
462
312
706
21089
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Released for puolieat.ion Friday IDOI'.l1ing, February 15, 1924; not earlier.
ro::SOURCES AND LIABILITIES OF Tl:Ji: FBDZ.F:.JIL RESERVE B.Al'f,"CS AT CLOSE OF EUSII\TESS FEBRUARY 13, 1924.
LI.AB I LI ~I ES
(In thousands of dollars)
New
York
Phlla. Cleve. Ri('.}1. Atlanta Chicago St.Louis Minn. Kans. Cy.
Boston
Federal Reserve Bank of
,..,...,.
200,614 377,886 200,742 226,741 88,593 130,937 362,097 70,059 65,989 64 ,oc::o
F,R. notes in ar.tual eirculation
F.R.Bank notes in circulation- net
Deposits:'
130,313 692,621 119,782 169,662 64,728 57,939 277,951 72,431 45,585 75,878
Member bank- reserve ac-.('.ount
3,287 4,171 2,774 1,029 2,161
4,954 3,043
3,732 ~ 1""'9
3,050
Gcvernr.eent
142
10,423
372
1,088
44o
163 1,2J.9
:.36
544
433
Other deposits
133,499 707,998 123,197 174,482 68,049 61,389 233,341 75,645 47,047 78,583
Tot13..!.. deposits
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St.3336~
Dallas San Fran. Total
44,926 205,993 2,039,203
418
418
55,821 152,521 1,915,232
1,736 3,844
36,960
20,017
376 4,631
57,933 161,046 1,972,209
Deferred avai1atili ty items
Capital paid in
Surplus
All other liabilities
105,319 48,273 53,299 46,435 19,699 62,119 32,430
29,545 10,127 12,246 5,798 4,452 15,107 5,018
59,929 19,927 23,691 11,672 8,950 30,426 10,072
16,~99
30o·.
476 1,038
728 1,184 1,393
2,077
556
TOTAL LIABILITIES
Ratio of total reserves to deposit
and li'. B. note liabilities
eombined 7 per "'en t
406,232 1,282,754 4o2,742 491,497 221,275 226,611 754,483 193,780 135,090 192,238 147,356 431,791 4,885,899
7,919
84.7
Contingent liability on bills
purcl1ased for foreign
eorrespondent s
219,168
18,554
F. R. notes in aetual ('.ircu1ation
200,614
Bi 11 s di s"'ounted
Bills bought in open market
U. S. Certifi"'ates of indebtedness
ivlunicipal warrants
w.
-,;
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82.0
79.4
72.3
72.8
88.8
80.0
78.6
72.6
529,687
110,357
220,915
13,110
80.9
16,294
1,969
741 2, 508
825
774
959
FEDERAL RESERVE NOTES OUTST.AliDING AND IN ACTUAL CIRCULATION
696,484 232,436 246,287 98,324 145,596 391,195 85,434 73,127 76,584 49,570 256,172 2,570,377
318,598 31,694 19,546 9,731 14,659 29,098 15,375 7,138 11,958 4,644 50,179 531,174
4,361
F. R. notes outstanding
F. R. notes held bt banks
81.5
9,930 34,396 30,342 39,941
7,890
3,491 4,552 4,212
7,484 9,496 7,577 15,301
1,149
635 1,948 1,620
1,633
377,886 200,742 226,741 88,593 130,937 362,097 70,059 65,989 64,626 44,926 205,993 2,039,203
DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS BY MATURITIES
Total
Wi thii.1 15 days
16 to 30 days 31 to 60 days 61 to 90 days From 91 days Over 6 months
to 6 months
546,3146
2,734
47,027
377,886
60,682
21,689
36,328
56,904
278,079
137,869
1,622
25,615
56,069
412
1
287760
145
13,291
11,315
3,596
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St. 3J36d •
nelea.sed fpr publication Friday morning, February 15, 1924; .OOt earlier.
F.EDERAJJ RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, FEBRUARY 13, 1924.
(In thousands of dollars)
Boston New York Phila.
Cleve. Rich. Atlanta
Reserve A-;ent at
RESOURCES
282,060 58,170 58.890 37,745 76,262
93,900
Federal Reserve notes on har.d
696,484 232,4 36 246,287 98,324 ).45, 599
219,168
Federal Reserve notes outstanding
Collateral security for· Fe:lera1
Reserve notes outstanding:
2,400
8,780
Gold and gold certificates
35,300
235,531 14,000
11,881
31,678 12,549 13,584
8,839
Gold redemption fund
2,915
123,000
336,000 156,839 182,000 60,295 94, oco
Gola fund - F. R. Board
Eligible paper 003
48,987
41,923 35,114 40,357
Amount required
93,275 48 f././
5,()88
~ 48,121 11,732
Excess amount held
2,133
1;?1,453
Fe~eral
Chicago
St.Louis Minn. Kans.Cy. Dallas San Fran.Tctal
168,520 27,300
7,415
85,434
73,127
391, 195
76.~84
956,777
31,542 84,320
49,570 256,172 2,570,377
7,491
376,6~
11,130
4,229
53,000
13,052
1,459
44,000
2,901
51,360
327,584
-, .391
3,367 16,322
117,215
9,500 208,426 1,695,114
7,060
79,648
17,075
17.824
14,616 22,323
1,125 14 I 11:)·-·
- J
3G,b53
29,312
20,105
31,424
32,605
430,464
364,774
534,369 1,8o6,481 523,827 599,585 246,125 372,542 1,030, 558 215,992 154,794 197,9 76 150,787 629,269 6,462,305
TOTAL
L I AB I L I T I E S
Nat amount of Federal Reserve notes
recei;red from Comptroller of the Currency
313,068
978,544 290,606 305,177 136,069 221,858
559,715 112,734
80,542 107,237 81,112 340,492 3,527,154
Cc.llatera1 receiveo from
Federal Reserve Bank:
Gold
Eligible paper
603,209 183,438 204,364
224,728 49,783 90,044
}84,135
86,708
58,511
15,741
170,181
51,120
TOTAL
63,210 105,239
46,846 45,445
68,359
34,899
54,261
36,478
20,258 224,748 2,139,913
49,417 64,029
795,238
534,369 1,so6,481 523,827 599,585 246,125 372,542 1,030,55s 215,992 154,794 197,976 150, 7e7 629,269 6,462,305
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