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,
STATEMENT FOR THE PBESS
Released for publication
Friday morning, Feb, 16;
not earlier.
St.3359.
Federal Reserve Board,
February 15, 1923.
CONDITION OF FEDERAL RESERVE :BANKS
An increase of $84,100 1 000 in discounted bills secured by Government obligations, as against only nominal changes in other discounts~
.. acceptances
and Government securities, accompanied by additions of $66,300,000 to deposits
and of $25,800,000 to Federal reserve note circulation, is shown in the Federal
Reserve Board's weekly bank statement issued as at close of business on February
14, 1923. CaSh reserves show a nominal reduction, though gold reserves increased
by $2,400,000. The reserve ratio shows a decline for the week fron1 77, to 75.3
per cent.
The increase in total discounts was due chiefly to an increase of $73,200,000
in the ~aunt of discounted bills held by the New York bank, smaller incre~ses in
discounts being shown also for the Philadelphia, Cleveland~~nd San Francisco banks.
Shifting of gold th~ongh the Gold Settlement fund accounts largely for the
changes in the gold reserves of the individual banks. Cleveland shows an increase in its gold reserves of $15,900,000, Philadelphia- an inc~ease of
$6,300 1000, 'Boston an incre.ase of $6,600,000 and Atlanta .. an increase of $5,600,000.
Smaller increases, totaling $8,100 1000, are reported for the Chicago, St. Louis,
Minneapolis and Ka.nsas City banks. The gold movement was away from New York, the
New York reserve bank reporting a decrease in its gold reserves of $37,4oO,OOO.
s~maller decreases aggregating $4,700,000 are shown for the three remaining reserve
banks.
lloldings ot pap~r ~"'eured ·oy Go.,Arnrnent oohgations show an increase. :tor 't:nf·
week from $344,600,000 to $42g, 700,000. Of the total held on Febr,_ery 14,
$197,200,000, or 46 per cent, were secu~ed by u. S. bonds, $4,6oO,OCO, or 1.~ per
cent, by Victory notes, $186,l~oo,ooo~ or 43.5 per cent, by Tr~asury :>-otes, and .:
$40,500 ,000, or 9. 4 _...per cent, by Treasury certificates, compared w J. th
$165,200,000, $1,800,000, $144)4oo,ooo and $33.200,000 reported·the week before.
A surr~nary of changes in the ~rincipal assets and liabilities of the reserve
banks on February 14, 1923, as compared with a week and a year ago, follows:
Increase
or
Decrease
In millions of dollars
since
=-Fe:::..:b:::.J.,_7.~,...;,z......::.l...c.92::..t.3
Total reserves • • •
Gold reserves
. .. .. ..
•
...•
• • •
Total earning assets •
, • ,
• • •
Discounted bills, total
, ••• , ••
Secured by U, S, Government obligations.
Other bills discounted • • • • • , • • •
'Purchased bi 11 s • , , • , • • • . •
• • •
United. S ta tG-s securi ties 1 total
J3onds · an,d notes • • . • , • . • • .. . , •
U. >S, Certificates of indebtedness ••
Total deposits • • , • • • • • • •
Members·• reserve deposits ... ,
Goverment deposits • • . • . • • •
Other deposits
• • • .• • • •
.. .
.... .
Federal Reserve notes in circulation • •
F. R. Bank notes in circulation, net
liability • • • • • , • • . • • • • • • •
=-Fe:::..:b::...:•-=..15.w•~,......:..l9.t.::.2=2
.4
2.4
+
+
84.o
+ 84.1
+ 84.1
...
57.3
+
132.2
101,1
+
.....
143.0
142,4
233.3
.4
.5
+
106,2
+
+
+
2.8
3.2
31.1
37.6
68.7
+ 66.3
+
+
+ 59.0
+ 8.4
11,1
1.1
+ 25.8
.2
173.2
220.1
35.8
+
73.7
79.9
.
I
I
Rele3.sed for publiGa.tion Frid:1y rwrning, Feb, 1~, 1923; not earlier.
St.3359a
RESOURCES AND LIJ.BILUIES
OF Tl·fE T7!ELVE FEDERAL RESERVE BANIS COIJJBINED,
(In thousz;.nd.s of dollars)
.RECOURCES
Feb. 14, 1923
302,189
5721152
Feb, 7, 1923.
307 ,5,j7
569,273
8741341
876,845
• 2,144,036
60,120
211391375
59,356
31078,497
140,464
31076,076
ll.ij ,233
. 31216,961
67,789
3,219,364
67,770
428,724
224,715
184,476
3441646
2241663
184,945
327,641
457.979
78,237
837,915
163,240
7541254
166,086
137,038
863,907
125,633
2581965
193
•• 1,131,438
461777
1.107,378
46,640
112451698
36,908
311
(a)524,349
(a) 15,823
7 ,930
5541486
15 I 583
41981,635
4,939,545
107,810
218,369
1031325
215,398
351131
1,905,530
23,780
79.316
1,744,430
331723
1,964,441
1,357,474
21217,817
21169.953
3,309
459,255
101634
82,988
493,064
17,343
Gold and gold certificates •
Gol1 settlGm:mt fund - F •. R, ]o::..rd ,
Tot :cl gold h~ ld 9z___"Q~~s ,
Gold with Federal Reserve Agents •.
Gold redemption fund • • • • •
• •. .
...
Total golL~e~~es
Reserve::; other than gold •
Totc1l reserves
Non-reserve cash .
Bills discounted:
Sec, by U. S. Government obligations
Other bills discounted . • .
Bills bought in open m::Lrl<::et , , , ,
. ..
...
. ...
Total bills on h~~~
U, S, bonds and notes
U, S. Certificates of indebtedness
I'Jll;rnicipal w:.:rrants , • • ,
..
...
190,283
... ' - - -
Tot'll earning a.s§et s
Bank premises • . •
5~: Redemption fund against
F. R. 'Banlc notes ,
Uncollected i terns
• •
All . other resources .
311 13
676,6~
16,045
• 51218 ~ 1ctif- 3 y
TOTAL RESOURCES
• • 108,373
C3.~~ i tal paid in • , ,
, ,
. • • .
2131369
Surplus , . • . , • . , • • .
Depogi tst
Government
. . • • . . . . , , . , • •
4j ,492
M8mber bank - reserve account
, 1, 9:S4, )ol
Other deposits • . •
22,639
Tota,l deposits • , . . . . . , . .
• 21030,692
F. R. note:; in actual circuLJ. tion
.• 2,243,603
F. H, Bank notes in circulation net liability. • , . , .
Deferred .w:cihbi1ity i terns
All other liabilities , • ,
'
..
....
TOTAL LIABILITIES
•
..
'
•
t
•
•
Ratio of total reserves to deposit and
F. P. note liati1ities combined •. • •
*Not shown separately prior to January 1923.
(a)Revised fig1.:.res.
NOTE:
Feb. 15, 1922
362,260
531,354
913,614
1,940,665
31,775
21936,054
139,886
3,0751940
*
4,9Gl,635
77. 0~~
·---
'rhe weekly statement showing the condition of the
Federal reserve baru:s as of Febrm.ry 21 will be issued
on Friday February 23 and released for publication in
Satruday mqrning papers.
----~-
Released for publication l!'riday morning, February 16, 1923; not earlier.
St.3359b.
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAN[CS AT CLOSE OF BUSINESS, FEBRUARY 14, 1923.
(In thousands of dollars)
RESOURCES
Total
Boston New York Phil a.. Cleve. Rich. Atlanta Chicago St.Louis Minn~ Kans. Cy. Dallas San Fran.
Federal Reserve Barik of
2,869 11,190 19,845
141,130 21,1K>9 14,148
6,639
5,605 52,385
302,189
7,745
1,937
17,287
Gold and ~old certificates
572,152
194,542 28,888 87. 5l10 28,423 25,021 36,684 14,825 26,952 32,047 11,754 31,583
46,893
Gold settlement fund - F. R. Board
Total gold held by banks
64,180
335,672
50,297 101,688
34,697
41,916
22,944
67,038 111,109 4o6, 528 81,040 47.738
2,168
1!142
3!318 1,559 -1~11..0
58,119
35,062
30,626
89,069
16,762
51,428
874,341
Gold with F. R. Agents
Gold redemption fund
158,121
8,802
3,090
14,663 202,610 2,144,036
i!268
4,232
60,120
Total gold reserves
Reserves other than gold
231,104 977 '764 216,769 306,56·· 105,418 143,294 513,767 99,970 83,577 103,125
25,000 10 2852 12,421 12.335
2,541
9,~84 24,255 18,541
9,922
761
241,026 1,002,764 227,621 318,985 117,753 153,278 538~022 118,511 84., 344 108 ' 666
4,235
4,283
4,434
10,86o
3,268 9,o65
9,484
3,185
2,153
6,897
)3,875 258,270 3,078,497
140,464
5,329
5,511
44,392 263,599 3,218,961
4,724
5,151
67,789
Total reserves
Non-reserve cash
Bills discounted:
Secured by u. S, Govt. obligations Z7 '721
23,093
Other bills discounted
14,16o
Bills bought in open market
Total bills on hand
U. s. bonds and nctes
u. s. Certificates of indebtedness
Total earning assets
Bank premises
5% Redemption fupd against
F. R. Bank notes
.Uncollected items
All other resources
TCTAL RESOURCES
·~
64-,974
6,055
22,189
93,218
4,434
635,023 16o,l58 201,889
1,069 6,314 2,987
259,758 42,084
. 34,492 15,170
29.193 25,021
23,680
9,867
324,043 82,275
24,047 24,469
64,829
29.188
4,628
~1,2S2
12,339
24,067
1S,oo9
22,358
-451
66o
7,580
1, 308
14,279
22,598
20,995
21,955
24,631+
428,724
224,715
184,476
l.S,l61
38,185
67,634
3,289
27 617
837.915
163,240
8,629
7,126
190,283
38,318 23,336 - 70,355 24,220
1,341
583 8,185 17.971
4,531 66,994 10,809
21,085
10,414
529
26.930
11,593
28,450 145,534
53,000
32,028
56,684
919
1,017
4,790
1,937
200
46
377,278 111,372 101,235 40,159
10,515
23,394 6,897
731 4,328
16,,342
5,828
14~443 33. 14o
13,748
85
1,014 .1};!821 11 1 495 4,012
1,819
2~617
2,091
55,654
427
65
153,980
1,923
64,442 76,621
758
572
51,691
470
23,692 90,408 37,893
1,422
302
530
14,117
1, 765
37,367
214
50,103 102,377 1,191,438
1,888
~0
28,368 42,5~
4,998
1,959
46,777
311
676,8~
16~045
405,619 1,555.949 407,852 509,613 215,958 216,878 790,677 215,138 135,424 212,904 131,956 420,1~ 5,218,126~6
...
8,329
I
----------------
N
~
Released for publication Friday morning, February
16.
. ·'
.
St.3359c.
. :·.
1923; not earlier.
.
B];SOURCEs· AND LIABILITIES OF THE FEDERAL RESERVE B.ANI{S AT CLOSE OF BUSINESS FEBRUARY 14, 1923.
L I A B 'I L I T I E S
(In thousands of dollars)
Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis
4,382 14,906
28",963
5,612
4y867
8,165
9,332 ll,9Eo
11;288
8,942
9,665
59,800 18,J49 23,495
30,398
16~312
Federal Reserve Tiank
~:A tal paid in
~urplus
J:)eposits~
4,998
127 ~504
632
:1.33 ,i3.4
'l'otal o.eposi ts
f · F,. !{. notes· in actual circulation 198,457
¥~ R~ fu.n:.c notes. in circulat~on rtet li.abili ty
49,190
· ~ferred availability i terns
.361
A,+l other liabilities
' . Q-overrJIDent
. 'Member bank- reserve account
Qther · de?osi ts.
[
3,118
2,020
12,679 1,932
2,.137
755;686 113,327 163.919
10,129 .. 709
1,502
.778~~94 115,968 167,558
56o ,010 204,224 234,687
949
·133
355
64,875 61,396 260i779
89,034 122,441 386.353
1,469
590 1,387
74,·364· 55.335 90,921
87,500 55~854 65.981
59.~025 71,066
554
847
396
19,119 76,683
. 598
1,162
2 ,251
39,222
419
126,130
2;532
2,317
Total
Minn. Kans. Cy. Dallas San Fran.
4,622
4~187
3,586
1. 7'11 108,373
7,473
71496 15i263
9•488
~t8t369
3,928
2,581
1,912
2,071
43,492
3.799
62;425 57:.923 275.902 72,254 51,367 87,540 54,361 142,353 1,964,561
44",708
441
37.519
723
12~287
889
375
4;409
22;,639
56,307 150,561 2,030~692
31,332 201.230 a~243,6o3
.
' l ..
.
.
. 421
- 106'1 3 ,074
29,592 38,337) 602,878 1;615
~
ll,lR'fJ
4o5t6~9
. 1,555~949 407,852 509,613 215,953 216.878 790~677 215,138 135,424 212,904 131,956 42Q~1§i.
- (,h ;,213,~.1'1
.. . ' .
TOTAL LIABILITIES
-
Ratio of total reserves to deposit
and F. R. ·note liabilities
combined, per cent
72.7
74.9
71.1
Contingent liability on bills
r;ur~h::-1.sed for foreign
correspor. .den'.;s
2,392
8,660
2,743
79-3
3,445
53.4
80.6
·:1~659
1,308
4,434
FEDERAL RESERVE mt.rEs oUTSTANDING AND
1,404
IN ACTUAL
75 .. 9
1,058
69.3
1,372
_1,143
73-7
15.3
2,265
31.,588
CIRCULATION ·
97,337 126,034 443,503 105,245 59,949 73.355 35,322 258,629 2,633,175
3,303
3,593 57,150 ·17,745 . 4~095
7 ,371!
3~490. 51,}99
339~572
89,034 122,441 386,353 87,500 55~854 65,98i· 31,832 207,"230
2,243~6o3
....
. '. ·.
F. R. notes in actual circulation 193,457
DISTRIBUTION OF BILLS AND. U. S •. CERTIFICATES OF INDEBTEDNESS BY MA'IDRITI~S
Total.
Within 15 days
16 to 3q days
31 to 60 days
61 to 90 days
Over ~0 days
653.439
524,616
28,607
45,800
32,284
22,132
Bills discounted
134,476
70,346
33,080
43,982
26,495
10,570
Bills bought in open market
~90 '.233
13,286
33
t'933
13,500
119
I 5~
U.s. Certificates of-indebtedness
214,708
16,251
F. R. notes outstanding
F. R. notes hel~ by banks
.
w.
.·
.
.
743,832 223,125 252,136
18311822 18,901 17,449
56o,oio 204,22.4 234,687
73.0
76 .. 5
.
.
.
Released for publication Friday morning, February
16, 1923;
not earlier.
FEDERAL BESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, FEBRUARY
14, 1923.
(In thousands of dollars)
Federal Reserve .Agent at
RESOURCES
Federal Reserve notes on han<i
Federal Reserve notes outstanding
Coll~teral security for Federal
ReserVe notes outstanding:
Gold and gpld certificates
Gold redemption fund
Gold fund - F. R. "Board
Eligible paper .limount required
Excess amount held
'IDTAL
:Boston
New York
Phila.
Cleve.
Rich.
Atlanta
Chicago
St. Louis
Mir.n.
Kans. Cy. Dallas
San Frn.n.
Total
n ,494 104,36o 25 .99o 11,ooo 2o. 160 21 .5o4 61,725 395,173
74-3,832 223,125 252,136 97.337 126,034. ;443,503 105,245 59,949 73.355 35.322 258,629 2,633,175
73,700
214,708
38o ,690 47 ,ooo 34,99o 29 ,36o
15,300
14,821.
128,000
260,531 7,000 13,275
2,4oo
33,492 11,269 13,614 4,243 4,7C9
341,000 141,889-175,000 62,795 104,000
56,587 108,809 62,967 50,247 30,299 14,925
8,387 192,656 8.951 12,308 7,135 8,403
511,503 2,067,0l0 502,201 551,570 231,769 337.965
12,790 13,052
15,883 4,750 1,686 3,759
390,645 63,500 33,000 54,360
-36~975
33,083
1~024.449
6,461
330,809
2,202 17,702 120,130
6,000 184,908 1,685,097
24,205 12,211 15,236 20,659 56,019 489,139
15 8,425 2,925 17,428 11,567 311,283
236,495139.323 170,395 109,576 590,550 6,472,806
LIABILITIES
Net amount of Federal Reserve
notes received from Comptroller of the Currency
Collateral received from
Fede'ra.l Reserve Bank:
Gold
Eligible paper
TOTAL
w.
158,121
64-,974
635,023 16o,158 201,889 67,038 111,109
301,465 71,918 62,555 37,434 23,328
4o6,528 81,04o 47,738 58,119 14,663 202,610 2,144,036
70,058 24,220 20,636 18,161 38,087 67,586 800,422
. 511.503 2,067,010 502,201 551,570 231,769 337,965-1.024.449 236,495 139,323 170,395 109,576 590.550 6,472,806
@FedFRASER