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STATEMENT FOR THE PRESS
St .3306;
Federal neserve Board,
January 18, 1923.
Released for publication
Fr idey morni~ , Jan. 19 i
not earliar.
CONDITION OF FEDERAL RESERVE BANKS.
Aggregate reduction of $11S ,900,000 in total earning assets, accompanied by a further decline of $56,200,000 in Federal reserve note circulation,
is indicated in the Faderal Reserve ~oard's weekly bar~ statement issued as
at close of business on January 17, 1923. Gold reserves show a further
increase of $14,500,000 and total reserves - an increase of $26,700,000.
Deposit liabilities of the resetve banks declined by $5Q,4oO,OOO and the reserve ratio rose from 73.6 to 76.1 per cant.·
As against slight changes in holdings of discounted bills, the reserve
banks report a reduction of $24.40C),OOO
acceptlancee, of $18,800,000 in
Government bonds· am notes and of $76,900,000 in Treasury certificates. Fed·
eral reserve note circulation on Januaty 17 was $2,256.500,000, a reduction
·of $2o7,6oo,ooo sino~ the recent. high figure reported bn Pece~ber 27, 1922.
Last year the reduction for the corresponding period was $21),600,000.
in.
Gold reserves of the System show au increase of $14,500,000, larger
· totals being reported for avery Federal reserve bank, except New York, which
shows a reduction of $36,700,000 in gold reserves. The largest increases are
sh.own as follows:· Chicago .. $13,100,000, Boston- $12,100,000,·Cleveland$&,6oo,ooo and Richmond - $6,ooo~ooo.
Holdings of paper seo~red by Government obligations show an increase for
the week from $282,000,000 to $284,ooo,ooo. or the total held on January 17
$138,500,000, or 48.8 per oent 1 were secured by United States bo~s,
$2,000,000, or •7 per cent, by Victory notes, $117 1 700,000, ·or 41.4 per cent,
by Treasury .notes and $25,900,000, or 9.1 per cent, by Treasucy certificate~,·
compared with $14o,4oo,ooo, $1,900,000, $111,300,000 and $28,400,000 reported
the week before.
i summary of changes in the principal assets and liabilities of the re..:
serve banks on January 17, 1923, as compared with a week and a year ago,
follows:
Increase
or
Decrease
In millions of dollars
since
Jan, 10, 1923
~~.a....:1:9..gg,
Total reserves • , • • . • • • • ·, • • , ,
+ 26,7
+ 162,6
Gold reserves • , • , • , . • • , . • • • •
+'14.5
+ 178.8
Total earning assets
. , •.• ·• ·,
·, , , •
Discounted bills 1 total • • ·, . • , • • , .
Secured by U, S, ·Government obligations· •
Other bills discounted . •
.. 118.9
+ 1.3
+ 2.0
,-
·1
-
108.8
400.5
104,7 '
295·8
Purchased bills , •• , , • , , • • . • . .
United States securities, total ••• , . , •
Bonds and notes , • • , . • • • • • ·• . . • ·
u. s. Certi'ficates of indebtedness
- 24-.4
+
10.6~4
1
,
1
•
I
•
•
•
•
••••
Total deposits •.•••.• , • , , •
, .
Members' reserve deposits. • • • • • , ,
Government deposits • , • • • • • . , •
Other deposits , , • • • • • ·•
1
•
..
..
..
•
Federal Reserve notes in circulation • , . . •
F. R. Bank notes !n circulation, net liability
-
95·7
18.8
76·9
+ 185·5
+ 96,g
+ 88.7.
50 .• 4
+ 184.6
+ 244.7
68.4
+.
8.3
- 4118
+
3.1
11.7
56.2
+
·3
+
26.8·
31.8
Released. for publication Friday_ morrii~, Jan. 19, 1923; not. earlier:
...
BE SOURCES .AND LL.ffi I LIT! ES
.
OF THE TWELVE FEDERAL RESERV~ B.ANKS. COMBINED.
I
'··
:~
.St.J}Oba ..
.. ·
R E
s. 0
"(In thousands of d.ollar3)
,. .·.
U R C E S
Jan.
Gold.
and gc;>ld certificates .
Gold Sf:3i.tlement fund - F. R. Board , .
·,. To.tal gold held by banks . . •
Gold with Feder~l Reserve Agents
Gold rederrption fund • , • • • .
't_q~-~k_goJctt_~ serves
Res~rves
other than gold
'
•
Total res.;3rvas
'
A
'
•.
Non-reserve cash • . . .
Bills· disco·:.tnted:
Sec. by U.s. 'Q.overnrnent obligationf1 • •
Other bills discounted , . . . . . .
· Bills bought in open market •.
'
•
t
•
'
..
.
Total bills ·On hand
u.· s.
u.
and
notes ' . . • •
S. Certificates of indebtedness
bonds
..
...
·:Municipal warrants . . . .
..
Total .earnin& assets
..
·. Bank premise~ • . ' '
5~ Red ernp t ion fund against
F. R. Bank notes
Uncollect'ed items
All· Qthar resources
.
..
'
....
......
TOTAL RESOUHCES .
ll,
1~2~
Jan .. 10 l 192} . Jan.lS 1 1922
296,Sl+O
2.,35' 229
832,069
2,1951474
-~~
3,077,492
136 1 6lf2
3,214,137
62,178
2Sl I 300
~.t591
824,391
2,136,194
51,§1}
3,062,958
_1£~
3,187,467
92,165
362,460
469,361
8511827
1,948' 657
~~08
2, 898' 692
122,611
3,0511503
*
284,017
229,328
20111.22
714,680
281,996
230,053
- 22:h1.60
338,672
525,150
94,944
737 ,S09
156,87G
255,554
lO
175, 7Q9
332,467
24
1,008, 766
6o, 12s
166,84l
_21_
1,1271122
45,895
1,246,009
45,521
1,235,957
35,322
311
653,495
12,}29
911
606,236
14.894
7,871
554,362
__12,512
5,138,467
5,193, 255
4,898,090
107,484
213,369
107,465
213,369
103,020
215,396
6,193
1,960,346
2}aill
2,019,876
77 '734
1, 673' 624
2,312,674
2, 229,677
2,666
521,667
10 1 338
34,878
463,826
16,396
5,193,255
4,398,090
LIABILITIES
Capital paid in
·Surplus • • •
Deposits:
. . ........ ...
'
'
G-overnment • • . • . . . . . .
.
9' 341
1,918,~~ b
Member batik - reserve account
Other deposits • ,
....
Total deposits
41,6~/
. • • • . • • • • • •
1,969,451
. . . 2,256,491
31117
. . . . . 573,705
. . 9.850
. . . .. 5,138,467
F. R. notes in actual circulation
F; R. Bank notes ir. circulation .. net liability . ; • • . • • •
·.Deferred availability ~terns
All other liabilities , • • •
TOTAL LIABILITIES • •
ql.{
"
Ratio of total reserves to deposit and
F. R. note liabilities combined
76.1%
*Not shown separately prior to January 1923.
73 • 6fo
n.3:rr
1,754,395
76.o%
r'
Released £or publication Frid<v morniq;,
~
RESOURCES AND LIABILITIES OF
f~
II.
I
JBIJ~J.aXy
Federal Reserve Bank of
Gold and gold ·certificates
Gold settlement fund - F. R. Board
Total gold held by banks
Gold with F. R. Agents
Gold redemption fund
Total gold reserves
Reserves other than g.o1d
· Total reserves
Non-reserve cash
Bills discounted:
Secured by U. S. Govt. obligations
Other bills discounted
Bills bought in open market
Total bills on hand
U. S. bonds and notes
U. s. Certificates of indebtedness
Mu.nicipal warrants
Total earning assets
premises
5% Redemption fund against
F. R. Bank notes
Uncollected items
All other resources
:Bank
235,575
8a227
244,102
11,506
14,352
}0,642
161 18,l
61,177
6,020
22,079
89,276
4,434
55.334
371
TOTAL RESOURCES
FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, J.AmJ.ARY 17, 1923.
(In thousands of dollars)
'RES 0 U R C E S
New York Phil a. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total
137' 326 20,498 13.814 6,167 5,828 51,412 2,876 7,652 2,816 11,155 20,444 296,s4o
161.202 201632 16z03b 22z21i 21!949 29.639 21!142 2:7 z 134 .l2 1 441 10!891 32zOZ3 225.229
298,531 41,183 89,852 31,744 27 '777 111,051 24,019 34,836 36,257 22,052 55,522 832,069
648,474 181,943 197.944 69,249 106,919 415,863 81,6o8 48,314 5&,443 18,473 193,716 2,195,474
49 1949
10.677 6.240 3.211 1 1 SJ6 1 1 56o 4,680 2z6J2 2z492 2148,l 1 1 868 4 1 460
957,652 229,}66 291,007 102,329 136,256 531,594 109,259 85,645 97,188 42,393 258,698 3,077.492
984 } 1 602 2z '735 2.128 136.645
28.746 12.518 9a86g 11 1 258 S 1 08,l 25z199 13.226
986,428 244,884 300,876 114,387 144,339 557.393 122,485 86,629 100,790 47.988 263,836 3,214,137
82,178
9,542 3.337 7,465 4,108 9,862 13,614 5,082 3.035 4,662 4,897 5,068
1ffiE
15,086 13,159 2,055 23,420 7.372 1,050 2,954
10,813 24,703 18,742 37,568 6,002 17.322 16,095
42 1148
82
15<3 8 1 108 9.350 14 1 926
69,047 38,621 28,905 70,838 28,300 18,372 19,134
11,862 1,341
136 7,026 17.972 10,813 26,926
26,894 4,500 2,031 58,878 6,478
495 16,593
10
322,176 90,430 107;803 44,462 31,072 136,742 52,750 29,690 62,653
10,101
66o 7.368 2,617 2,06o 8,305
978 4,731
919
161,502 32,300
2L,231
7 t 1.«)6
21
29.294
1 210
2122127 61,216
18,829 24,6o7
91,220 4,607
145,874 56,886 65,958
2,113
453
701
65
57.627 25,891 80,453 4o, 320 15,359
416
251
203 1.795
939
. 1,699
14,583
221082
38,364
3. 729
8,629
9,068
24,221
22z2<30
68,579
27,617
13,150
284,017
229,328
201zJJ2
714,680
156,878
255,554
10
50,722 109,346 1,127,122
1,937
1, 785
45,895
42~847
311
653,495
15.'$29
20-\.i
46
4o~4o6 26,54o
943 1,94o
4,738
405,023 1,476,294 396,650 490,177 223,617 213,575 797,511 222,059 137,486 214,385 134,070 427,620 5,138,467
•
--~-
Boston
16,352
42!39.2
59,245
169,523
6 2 801
St.3306b.
19, 1923; not earlier.
-----
--
~-~-
Released for
:pu.bli~ation
Friday morning, January 19, 1923; not earlier.
BESOURCES AND LI.AEILITIES OF THE :FEDERAL
L I ABI L I
Federal Reserve Bank
Boston
Capital paid in
Sl.:l.+PlUS
Deposits:
Goverm1ent
Member bank - reserve account
Other depo si ts
8,123
16,312
709
128~061
1,683
Total deposits
130,453
F. R. notes in actual circulation 197,663
.F. R. Bank r.otes in circulation net liability
Deferred availability
All other liabilities
iterr1s
TOTAL LIABILITIES
l~ew
YQ:rk
Phila.
St.3306c.
BESEl~VE
Cleve.
:DAI\JKS AT CLOSE OF BUSINESS JluWARY
~
Rich.
28,737 9,327 11,716 5.597
59,800 18,749 2},495 11,.288
17, 1923.
(In thousands of dollars)
I E S
Atlanta Chicago St.Louis Minn.
4,259 14,775
8.942 30,398
4,830
9,665
Total
Kans.Cy. Dallas San Fran.
3,578
7,473
4,620
9,488
4,177 7,745
7,496 15,263
107,484
218,369
795
511
628
4l.i()
572
999 CfV 525
670 1,382
9,341
874 1,236
711,692 113,349 162,164 61,769 54 ,9?9 284,16-V 76,349 49,388 80,963 55.637 139,946 1,918,4~o/
11~443
1,982 4,485
5:8 l ,276 2 ,460"1'1 1,165 4,074 5.597 1,600 5,354
41,642- /~
723,930 115,842 167,277 62,727 56,527 287,625 78,039 54,336 87,801 57,907 146,682 1,969,451
552,218 202,412 229,016 92~104 120,164 395,522 88,145 57,604 67,215 35.353 219,075 2,256,491
130
2,204
783
3 ,ll7
52,194 109,512 49,972 57,934 51,483 22,775 68,053 40,692 13,634 42,654 26,345 37,907 573,705
273
2,097
348
739
418
6os 1,oo8
688
811
4o3 1,509
948
9,850
405,023 1,476,294 396,650 490,177 223,617 213,575 797.511 222,059 137,486 214,385 134,070 427,620 5,138;467
Ratio of total reserves to deposit
and F. R. note liabilities
combined, per cent
74.4
77.3
Contingent liability on bills
purchased for foreign
correspondents
12,494
2,474
76 .. 9
2, 711
75.. 9
2,773 ~ -1,661
31.6
1,220
81.6
73.7
4,033
77.4
1,593
51.5
915
1,627
881
72.1.
1,559
FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION
F. R. notes outstariding
213,110
F. R. notes held by banks
15,447
F. R. notes in actual circulation 197,663
758,311227,710 257,692103,248 125,334 457,318 108,373 61,415 75,726 40,083 263,1912,691,511
206,093 25,298 23,676 11,144 5-?170 61,796 20,228 3,811 8,511 4,730 44,116 435,020
552,218 202,412 229,016 92,104 120,164 395,522 88,145 57,604 67,215 35,353 219,075 2,256,491
DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL W.ABRANTS BY MATURITIES
Within 15 days
Bills discounted
Bills bought in open market
U., S. Certificates of indebtedness
Municipal warrants
367,072
62,988
75.71~
16 to 30 days 31 to 60 days
31,695
48,289
47,229
55,604
5.914
71,27a
61 to 90 days
38,848
28,~28
Over 90 days
Total
27,441
6,886
102,658
513 ,345
201,335
255,5i~
.
T
~
··~
Released for publication Friday morning, January 19, 192J; not earlier.
St.3306d.
FEDERAL RESERVE AGENTS' .ACCOUNTS AT CLOSE CF BUSINESS, JANUARY 17, 1923.
(In thousands of dollars)
Federal Reserve Agent at
:Boston
N'ew York Phna.
Cleve. Rich.
At~anta
Chicago
St.Louis
Minn. Kans.Cy.
Dallas
San Fran.
Total
RESOU:RCES
FeQeral Reserve notes on hand
86,700
Fede:r·al Reserve notes outstanding 213,110
Collateral security for Federal
Reserve notes outstaniing:
Gold and gold certificates
15,300
Gold redemption fund
16,223
1_33,000
Gold funi - F. R. Board
Eligible paper Amount required
43,587
EJ~cess amount held
17.590
TOT.AL
39&,690 55.520 J3~390 31,2SO 32,004
753.311 227,710 257,692 103,248 125,334
92,000 26,140
457.318 108,373
12,110
61,415
21,360
75.726
19,044 65,709
928,927
40,083 263,191 2,691,511
273,184
11,780
14,218
4,828
401,645 65,000
13,052
2,262
33,000
3,088
55,36o
6,471
342,462
2,502 19,612
134,719
9,500 179,104 1, 718,293
2,4oO
7,000 · 13,275
34,290 15,054 14,669
341,000 159,889 170,000
2,454
66;795
5,519
99,000
109,837
86,580
33,999
3,738
10,481
45,767
5,224
59.748
8,167
18~415
41,455
29,263
2.6 '765 13; 101 17,278 21,610 64,475
1,535
4, 704
1,856
16,620
3.604
496,037
189.362
530,510 2,001,392 516,164 561,941 241,494 343,153 1,035,899 244,421 139.644 174,668 115,830 595,695 6,501,311
LIABILITIES
Net amount of Federal Reserve
notes received from Con:p. troll<:::r of the Cm.·rerey
299,810 1,157.001 283,230 296,032 134,503 207,333
549.318 134,513
73,525
97,036
59,127 323,900 3,620,438
Collateral received from
Federal Reserve Bank:
Gold
.
Eligible paper
169,523
61,177
415,863
70,718
43,314
17,805
58,443
19,134
13,473 193,716 2,195,474
38,230 68,079
685,399
TOTAL
•
530.510 2,001,892 516,164 561,941 241,494
r
.
.
34 3,153
31,603
28,300
1,035,899 244,421 139,644 174,668 115,830 595,695 6, 501,311
@FedFRASER