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V STATEVIWf FOB TEE PEESS St. 4444 Federal Beserve Board, February 26, 1925* Released f o r p u b l i c a t i o n Friday morning, Feb. 2?J not e a r l i e r . CONDITION OF FEDERAL PESEBVE BANKS The c o n s o l i d a t e d statement of c o n d i t i o n cf t h e Fech >al r e s e r v e banks on Februi n c r e a s e of $91,300,000 made p u b l i c by t h e F e d e r a l Beserve Board, shows i n h o l d i n g s of d i s c o u n t e d b i l l s and of $5,500,000 i n acceptances purchased in open market, t o g e t h e r with, a d e c r e a s 3 of $13,>00,000 l a Governmetrc s e c u r i t i e s . As a r e s u l t , t o t a l e a r n i n g a s s e t s went up # 3 , 3 0 0 , 0 0 0 t o $1,129, f 00, OCX). Federal Eosexve n o t e c i r c u l a t i o n increased $29,500,000, while cash r e s e r v e s declined $15,700,000 and n o n - r e s e r v e cash $4,600,000. ' S , r y C . J , '.UCLkl.^ JU U L U .i. -L V J V -i- w n v.- — - - - > ~ ' The New York r e s e r v e bank shews an i n c r e a s e of $72,600,000 in h o l d i n g s of d i s counted b i l l s , Boston - an i n c r e a s e of $9,000,000, and San F r a n c i s c o and Chicago show i n c r e a s e s of $2,800,000 and $2,700,000, r e s p e c t i v e l y . Of t h e remaining banks, four shew a t o t a l i n c r e a s e of $1,700,000 and f o u r a t o t a l d e c l i n e of S3,400,000. An i n c r e a s e of $16,000,000 in holdings of acceptances purchased in open market i s reported by t h e New York r e s e r v e baric, while Doe ton shews a decrease of $7,400,000 i n t h i s item and D a l l a s a d e c r e a s e of $2,700,000. The System's holdings of Treasury n o t e s went down $9,600,000 and cf Treasury c e r t i f i c a t e s - $4,700,000, while holdings of U. S. bonds increased $800,000. The p r i n c i p a l changes in Federal r e s e r v e note c i r c u l a t i o n d u r i n g the week comprise an i n c r e a s e of $11,500,000 reported by the New York bank, $10,700,000 by Cleveland, $5,400,000 by Boston, and^$4,200,000 by P h i l a d e l p h i a , The e i g h t r e maining banks show a n e t d e c l i n e of $3,000,000. A summary of changes i n t h e p r i n c i p a l a s s e t s and l i a b i l i t i e s of t h e r e s e r v e banks d u r i n g t h e week and t h e y e a r ending February 25, 1925, f o l l o w s : Increase or decrease Ydar Weak $15,700,000 11,700,000 Total r e s e r v e s . Gold r e s e r v e s T o ta l e a r n i n g a s s e t s . . . . . . . . . B i l l s discounted, t o t a l Secured by U.S. Gov't, o b l i g a t i o n s Other b i l l s d i s c o u n t e d + + + 83,300,000 91,300,000 86,900,000 during - $200,200,000 + 97,800,000 19,800,000 * 229,200,000 178,900,000 - 117,600,000 + 53,900,000 U. S. Government s e c u r i t i e s , t o t a l » . Bonds Treasury n o t e s C e r t i f i c a t e s of indebtedness . . . . 5,500,000 13,500,000 800,000 9,600.000 4,700,000 + 208,900,000 + 157,800,000 6,300,000 F e d e r a l Reserve notes i n c i r c u l a t i o n . . 29,900,000 - 293,500,000 12,500,000 17,800,000 + + 283,800,000 281,900,000 5,800,000 + 13,700,000 + B i l l s bought i n open market T o tal d e p o s i t s Members' r e s e r v e d e p o s i t s Government d e p o s i t s . . < Other d e p o s i t s 4* 4* + -4,400,000 500,000 + 57,400,000 11,800,000 Rel 3aS'3fl f o r p u b l i c a t i o n F r i d a y morning, February 27, 1925* S t . 4444a RESOURCES AND LIABILITIES OF TFE TWELVE FEDERAL RESERVE BANKS COMBINED ( i n t h o u s a n d s of d o l l a r s ) Feb. 25, 1925 Feb. 18, 1925 Feb. 27, 1924 R E S O U R C E S 1,603,443 44,486 1,701,939 50,139 2,109,124 42,069 1,647,929 1,752,078 2,151,193 668,619 577,029 578,550 574,647 600,085 371,469 2,893,577 2,905,^75 3,122,747 135,968 139,929 106,993 3,029,545 3,045,204 3,229,740 55,533 60,160 51,091 283,332 150,473 196,460 146,011 263,512 Total b i l l s discounted 433,805 342,471 531,590 B i l l s bought i n open market U. S. Government s e c u r i t i e s : Bonds... Treasury notes C e r t i f i c a t e s of i n d e b t e d n e s s 317,246 311,747 263,310 74,945 . . . 75,780 263,445 25,469 273,082 30,178 18,347 105,677 31,777 T o t a l U. S. Government s e c u r i t i e s 364,694 378,205 155,801 10,500 3,452 10,500 3,455 100 1,129,697 1,046,361 950,801 644,454 58,332 24,450 652,314 58,323 2V ,500 28 581,438 55,169 21,623 4,942,011 4,916,882 4,889,890 . . net 1,728,752 1,693,590 2,022,301 405 . . . 2,208,405 26,673 2,190,651 26,139 40,341 1,926,514 38,44l 20,876 2,269,636 2,257,121 1,985,831 601,041 113,596 217,537 11,149 619,074 113,466 217,837 10,494 535,818 110,880 220,915 13,740 4,942,011 4,916,882 4,889,890 Gold w i t h F e d e r a l r e s e r v e a g e n t s . . . Gold r e d e m p t i o n fund w i t h U . S . T r e a s u r y Gold Veld e x c l u s i v e l y a g a i n s t F . R . n o t e s Gold s e t t l e m e n t fund w i t h F. R. Board Gold and gold c e r t i f i c a t e s held by banks T o t a l gold r e s e r v e s Reserves o t h e r t h a n gold Total reserves . . , Non-reserve cash . . . . . Bills discounted: Sec. by U.S. Government o b l i g a t i o n s Other b i l l s d i s c o u n t e d . . . . . . . F o r e i g n l o a n s on gold . . All o t h e r e a r n i n g a s s e t s Total earning a s s e t s . . . . . . 5$ Redemption fund - F. R. Bank n o t e s Uncollected items Bank p r e m i s e s All o t h e r r e s o u r c e s . TOTAL RESOURCES . L I A B I L I T I E S F. R. n o t e s i n a c t u a l c i r c u l a t i o n F. R. Bank n o t e s i n c i r c u l a t i o n 4 Deposits: Member bank - r e s e r v e a c c o u n t . Government . . . . . . Other d e p o s i t s Total d e p o s i t s . . . . D e f e r r e d a v a i l a b i l i t y items C a p i t a l paid in Surplus All other l i a b i l i t i e s . . . TOTAL LIABILITIES . 34,558 268,078 R a t i o of t o t a l r e s e r v e s t c d e p o s i t and F. R. n o t e l i a b i l i t i e s combined . . . 75.8^ 77.0$ 80.6$ C o n t i n g e n t l i a b i l i t y on b i l l s p u r c h a s e d for foreign correspondents 45,494 44,581 12,366 Pel eased f o r p u b l i c a t i o n F r i d a y morning;- F e b r u a r y 27, 1 9 2 5 ; not e a r l i e r . - S t . 4444b PESOUBCES AND LIABILITIES OF THE FEDERAL BESEBVE BANKS AT CLOSE OF BUSINESS, FEBBUARY 25, 1925* B E S O U R C E S ( i n t h o u s a n d s of d o l l a r s ) F e d e r a l B e s e r v e Bank of Boston Gold w i t h F e d e r a l Reserve Agents 157,531 Gold r e d e m p t i o n fund w i t h U . S . T r e a s . 5 , 2 2 5 Gold held e x c l u s i v e l y a g a i n s t F. E. n o t e s Gold s e t t l e m e n t fund w i t h F.R.Board Gold and gold c e r t i f . held by banks 162, 756 55,795 25,o4o T o t a l gold r e s e r v e s 243,591 Reserves o t h e r than gold 14,321 ' Total reserves Non-reserve cash Bills discounted: Secured by U.S.Govt, o b l i g a t i o n s Other b i l l s discounted Total b i l l s discounted B i l l s b o u g h t in open market U. S. Govemmait s e c u r i t i e s : Bonds Traasury notes C e r t i f i c a t e s of i n d e b t e d n e s s T o t a l U. S. Govt, s e c u r i t i e s F o r e i g n l o a n s on gold All other earning a s s e t s Total earning a s s e t s Uncoil acted i t e m s Bank p r e m i s e s All o t h e r r e s o u r c e s TOTAL BESOURCES 257,9 12 New York Phila. Clave. Rich. Atlanta Minn. Kans.Cy. Dal lew; San F r a n . 51,510 3,798 67,077 1,212 60,167 2,298 35,669 193,969 2,00% 2,199 352,459 154,416 1 7 3 , 0 7 3 69,234 1 4 6 , 2 6 3 169,826 55,308 68,289 62,465 3 7 , 6 7 2 196,168 1,647,929 21,274 104,799 27,484 27,476 6,513 48,887 3,576 27,819 187,348 317,804 48,968 63,845 16,075 22,712 26,247 23,311 8,668 9 5 , 3 2 1 857,611 226,096 263,165 108,620 176,205 369,946 8,632 6 , 1 3 5 13,028 18,264 25,351 7,368 8,992 9 1 , 7 8 4 102,278 114,928 38,849 29,973 668,619 577,029 7 4 , 3 6 3 264,990 2,893,577 9,478 5,895 135,968 885,962 233,464 271,797 114,755 189,233 388,210 110,232 104,302 3 1 8 , 9 5 2 83,841 270,885 3,029,545 749 2,040 2,422 3,869 55,533 525 10,474 15,811 2,978 7,780 318 3,804 1,234 4,007 351 1,936 12,455 8,122 283,332 11,745 2 6 , 2 8 5 10,758 4,122 5,241 20,577 433,805 40,492 17,450 2,638 11,635 42,007 317,246 1,121 790 19,649 35,049 1,427 1,277 7,787 345 8,824 9,206 408 8,122 13,846 1,909 541 3,116 28,179 5.566 75,780 263,445 25,469 3,461 462 56,125 1,564 9,409 18,438 17,094 36,861 519 374 2 23,877 474 500 399 798 364,694 10,500 3,452 1,129,697 2,812 5,132 15,983 10,695 184,206 42,721 18,271 9,572 32,714 9,940 11,220 26,678 8,156 20,532 226,927 27,843 42,654 28,688 41,961 80,070 20,231 34,105 4,975 2,662 16,161 3,737 12,460 89,910 3,987 1,415 23,163 327 10,948 25,018 6,359 1,407 1,802 73 22,560 106,357 24,905 1,032 2,950 42,325 1,220 3,282 603 2,024 3,747 2,681 3,055 18,448 8,872 4,024 1,907 5,550 1,550 8,180 2,287 16,132 4,350 12,203 91,199 416,409 76,961 120,304 37,548 2 1 , 2 1 8 124,466 38,136 25,574 41,727 35,912 100,243 57,463 138,811 16,304 63,276 1,114 60,057 7,573 433 49,099 2,446 515 30,694 36,450 3,619 323 12,799 3,039 3,125 41,313 4,067 70S 31,037 1,833 1,825 37,007 167 1,603,443 6 8 , 6 3 2 143,947 165,678 552 2,316 4,148 18,058 4,190 Total 342,006 lU6,'6l3 170,59% 10,453 7,803 2,479 3,936 - Chicago S t . L o u i s 8,-073 368 4 l 4 , 8 6 7 1 , 4 8 3 , 6 1 7 377,090 4 6 2 , 8 4 5 2,780 86,448 8,099 2,086 2,071 207,175 251,128 617,489 192,507 149, 58$ 208,807 150,473 3:756 644,454 58,332 24.450 156,870 420,028 4,942,011 S t . 4444c "BET-easetf TOT p u b l i c a t i o n - F r i d a y morning, February 27, 1925; n o t e a r l i e r . X RESOURCES AND LIABILITIES OF THE FEDERAL BESEPVE BAMS AT CLOSE OF BUSINESS, FEBRUARY 25, 1925. L I A B I L I T I E S ( i n t h o u s a n d s of d o l l a r s ) Boston 199,079 Deposits* Member bank — r e s e r v e a c c o u n t Government Other d e p o s i t s 132,277 2,731 159 884,895 121,952 174,531 6,028 3,968 598 23,336 653 1,182 66,799 71,490 308,336 2,530 1,668 646 181 213 1,818 83,877 1,864 135,167 914,259 126,573 1 7 6 , 3 1 1 69,510 7 3 , 3 7 1 310,800 86,508 57,991 22,957 4,594 37,721 5,110 12,928 3,268 Tcbul d e p o s i t s Deferred a v a i l a b i l i t y items C a p i t a l p a i d in Surplus All other l i a b i l i t i e s TOTAL LIABILITIES R a t i o of t o t a l r e s e r v e s t o d e p o s i t ar*i F. B. n o t e l i a b i l i t i e s combined, p e r c e n t New York 357,857 Phila. 160,281 CI eve. R i c h . A t l a n t a Chicago St •Louis Minn. Kans.Cy. D a l l a s San F r a n . T o t a l 75,275 140,647 177,538 52,699 66,966 6 6 , 5 5 1 4 5 , 5 8 6 194,673 1 , 7 2 8 , 7 5 2 F e d e r a l R e s e r v e Bank of F. R. n o t e s i n a c t u a l c i r c u l a t i o n 191,600 55,770 119,551 58,822 5 8 , 5 9 3 44,I4O 8,069 30,576 1 1 , 0 6 8 1 2,957 5,932 16,382 58,749 20,059 22,462 11,701 400 2,625 227 922 617 4 i 4 , 8 6 7 I , 4 s 3 * 6 l 7 377,090 4 6 2 , 8 4 5 77.2 C o n t i n g e n t l i a b i l i t y on b i l l s purchased f o r f o r e i g n correspond ents 69.6 12,880 81.4 4,600 73.9 5,290 8,950 609 207,175 251,128 79.3 2,668 88.4 2,024 81,646 15,473 30,426 1,606 617,489 79.5 6,854 55,919 1,772 300 767 9,971 49s 192,507 79.2 2,300 7,497 938 64,229 156,883 2,208,405 26,673 1,510 1,629 1,729 246 5 , 0 0 6 34,558 697 8 9 , 4 2 4 66,104 1 6 3 , 6 l S 2,269,636 87,217 39,082 32,662 4,318 8,977 455 37,169 4,127 8,104 7,592 15,071 799 • 1,393 1 4 9 , 5 8 8 208,807 156,870 420,028 83-5 1,610 76.3 75-1 75-6 601,04i 113,596 217,837 11,149 4,942,011 75.8 2,024 1,748 73,360 6,809 52,466 6,880 243,873 2 , 0 5 2 , 6 7 3 49,200 323,921 66,551 45,586 194,673 1,728,752 3,496 45,494 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F . P. n o t e s o u t s t a n d i n g IP. R. n o t e s held by banks 218,668 t. 199,079 R. n o t e s i n a c t u a l c i r c u l a t i o n B i l l s discounted B i l l s "bought i n open market C e r t i f i c a t e s of i n d e b t e d n e s s Municipal w a r r a n t s 19,589 497,563 187,041 208,106 92,356 160,591 189,092 60,119 69,438 139,706 26,760 16,506 17,081 19,944 11,554 7,420 2,472 357,857 160,281 191,600 7 5 , 2 7 5 140,647 177,538 52,699 66,966 DISTRIBUTION OF BILLS, MUNICIPAL WARRANTS 'AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES From 91 days Total Over 6 months W i t h i n 15 days l 6 t o 30 d a y s 31 t o 60 days 6 l t o 90 days t o 6 months 433,805 1,949 20,620 8,378 17,440 31,629 353,789 317,246 4,580 48,277 74,827 55,785 133,777 25,469 21,765 3,022 482 200 2 2 P e l e a s e d f o r p u b l i c a t i o n F r i d a y morning, February 27, 1925; n o t e a r l i e r . S t . 4444d FEDERAL E5SEEVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, FEBRUARY 25, 1925. ( I n t h o u s a n d s of d o l l a r s ) F e d e r a l R e s e r v e Agent a t Boston New York Phila. Cleve. Rich. A t l a n t a Chicago S t . L o u i s R E S O U R C E S F e d e r a l R e s e r v e n o t e s onland Federal Reserve notes o u t s t a n d i n g C o l l a t e r a l s e c u r i t y f o r 'Federal Reserve notes o u t s t a n d i n g : Gold and gold c e r t i f i c a t e s Gold red emption fund Gold fund - F. R. Board E l i g i b l e paper Amount r e q u i r e d E x c e s s amount h e l d TOTAL 52,550 218,66s 325,940 51,goo 51,900 18,441 69,438 497,563 187,041 208,106 30,300 186,698 6,000 8,780 10,231 29,30s 13,224 11,814 117,000 126,000 127,389 150,000 Minn Minn. Kans.Cy. D a l l a s San F r a n . 5,000 Total 29,423 1 9 , 9 3 7 64,100 73,360 986,788 52,466 243,873 2 , 0 5 2 , 6 7 3 16,011 278,016 3 , 6 5 8 13,796 101,566 16,000 180,173 1,223,861 61,137 155,557 4 0 , 4 2 8 37,512 23,674 16,644 23,4i4 8,609 2,361 1 3 , 1 9 3 16,797 49,904 449,230 7,502 126,063 2,747 3 8 , 5 9 1 8,849 194 4 3 , 0 4 2 19,242 3.9S8 3,531 1,563 12,161 267,473 4 9 7 , 3 8 8 1,447,129 428,629 5 0 6 , 7 0 3 219,005 382,932 681,263 165,i4o 161,305 179,674 126,432 564,007 5,359,607 2,887 2,947 13,052 1,525 52,500 5,034 3,335 238,841 260,006 117,800 222,147 449,129 85,779 428,629 506,703 219,005 382,932 681,263 165,140 161,305 179,674 126,432 564,007 5,359,607 3,807 56,360 L I A B I L I T I E S Net amount of F e d e r a l R e s e r v e n o t e s r e c e i v e d f r o m C o m p t r o l l e r of t h e Currency 271,218 C o l l a t e r a l r e c e i v e d from F e d e r a l r e s e r v e bank: Gold E l i g i b l e paper TOTAL 823,503 87,879 102,783 72,403 307,973 3,039,461 1 i'Mi 497,388 1,447,129
@FedFRASER