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STATEMENT FOR THE PRESS St. 3906 Federal Reserve Board January 24, 1924. · Released for publication Frid~ morning, Jan. 25; not earlier. CONDITION OF F.EDERAL RESERVE BANKS Continued though smaller decreases in Federal reserve note circulation at all Federal reserve banks, amounting L~ the aggregate to $34,500,000, tog0ther with a relatively small decrease of $5,800,000 in earning assets, and an increase of $18,600,000 in deposit liabilities, are shown in the Federal Reserve Board's week~ consolidated statement of condition of the Federal reserve banks at close of business January 23, 1924. The reserve ratio rose from SO.l to 80.4 per cent. A net increase of $6,600,000 is reported in holdings of bills discountad, the New York and San Francisco banks showing the principal increases of $12,200,000 and $4,100,000, respectively. A decrease of $3,600,000 is shown by Cleveland, of $2,200,000 by Boston, and of $l;.JGO,OOO by Kansas City• Discounted bills secured by U. S. Governnent obligations increased by $13,200,000, amounting to $272,900,000 on January 23. Of this total, $146,400,000 was secured by Liberty and other U. S. bands, $119,100,000 by Treasury notes, and $7,4oO,OOO by certificates of indebtedness. Holdings of acceptances purchased in open market declined oy $16,700,000, tha New York bank showing a decrease of $10,300,000. An increase of $4,300,000 is shown in Government security holdings, all of the banks except Chicago participating in the increase. For the fourth consecutive week, all Federal reserve banks report declines in Federal reserve note circulation, the principal decreases during the current week being as follows: Philadelphia $9·,200,000, Chicago $4,500,000, and. San Francisco $4,400,000. Since December 26, of last year, Federal reserve note circulation has declined from $2,}40,400,000 to $2,049,800,000, or by $290,600,000.compared with a decline of $242,300,000 during the corresponding period in 1923. Gold reserves de~reased by $5,500,000 duri~g the week, reserves other than gold increased by $6,600,000, and non-reserve cash declined b,y $5,600,000. A summary of changes in the principal assets and liabilities of the reserve banks during the week and the year ending Jamary 23, 1924, follows: Increase or decrease during Total reserves . . . Gold reserves Total earning assets . Bills discounted, total •. Secured by U.S. Government obli;ations Other bills discounted . • . Bills bought in open market U. S. Government securities, total •. Bonds . . . . . . . . . . . • Treasury notes • • . . . . • • . . . Certificates of indebtedness Federal·Resarve notes in circulation Total deposits • • • . . . • Members• reserve deposits Government deposits Other deposits • • • • . • • c. l 1 + $1,200,000 + $49,600,000 5, 500,000 t 71,500,000 5,800,000 - 139,400,000 + 6,600,000 - 29,000,000 + 13,20o,ooo 6S,500,ovo 6 , 6oo, oco + 39, 500, OOO· 16, 700,0CO + 71,500,000 + 4,300,000 - 231,900,000 8,800,0CO + 4, 300,000 61,600,000 161, 500,000 34,500,000 - 171 t 500 , 000 + 18,600,000 + 27,500,000 1,4oo,ooo + 10,400,000 21,700,000 + + 28,100,000 1,700,000 11,000,000 ' J Released for publicaticn Friday rrorning, Jaru.,~ry 25, 1924. St. 3906o. RESGLJ:iCES .AND UAgH f':t'nS OF TSE Tr'':B;J}!E FJWER.AL RESERVE BA~JVS COI'BINED (In t'Hiusands of dollars) Q:an. iliJg24 R E,S 0 U R C E S Gold with Fedaral res,~:rve agents . . . . . Gold redernpticn fund with U. S. Tre::.sury • Gold held exclusively ,~gai!'l~ __E_!_R! not ,;s Gold settlement fund wit~. F. R. Bo::::.rd , • Geld and sold certific::<.tes held by banks . Total gQld_re~::;rves • . Reserves ot~1er than ::;old 1~~:~IJ 2,130,879 46,300 2, 181,121 44,167 2,156,109 2,177,679 2,225,2S2 573,038 556,642 29£1207 2, ---i)S 7,32 7 403,226 ----3,151,662 • • # ' • • Non-reserve cash . • • Bills disc cunt ed: Secured ':Jy U.S. Government o';li_;at ions • Other bills d :.scounted 1otaLbill~l__~scount::;d 119,923 Total U. S. Government securities • • 3, 221,9£1 v3,331 63,926 76,043 272,927 267,851 259' 774 274,411 341,4)4 228,281 534, 135 569, 735 275,99 7 29 2, 744 204,547 20,014 76,455 24,457 20,026 72,084 24,502 2E, 781 *133, 076 135,962 120,926 116, bl2 352,819 10 - - - 20 - 4 28 591,436 54,57~ ll1U8 943,561 23 670,437 54, 2C9 16,135 1,127,105 310 580,151 46,400 -15,497 4, 935, 78cj 5,023,750 5, 06'7' 487 2,049,834 439 2,034,320 444 2,221,316 3,132 1,934,949 61,184 22,163 1,936,307 39,43b 23,395 1,924,541 33,042 ---- s3 7' 711 • • TOTAL RESOURCES . 3,157,1-±9-11 1' 3,030,137 / 141,844 113, 2-&5 ud-J 3,270, 404 Municipal w2.rrants . . . . . Total earnin~ assets • 5'.~ Redemption fund - F. R. Bank notes Uncollectej items Bank premises . . All other resources _40b,~'';u 3,271,585 540,775 Bills bou;ht in open market • U. S. Governmant securities: Bends . . . . • . . . . . • Tre3-sury notes . . . . . . CartificatGs of indebtedness ~§:Il_l~ 1924 Jan. 24J~ ---- ----- L I AB I L I T I E S F. R. notes in actual circulation F. R. Bank notes in circulation- net Deposits: Member bank - reser·~;;3 account Government • . . . Ot ~1e r d ep os its . , Total deposits • .· Deferred availability items Capital paid in • • . Surplus . . •••. , . All other liabilities • • . • TOTAL 523,511 llC, 035 2cc, )15 _!2, 7?9 LIABILITI~S Ratio of total reserves to deposit F. R. note liabilities combined 4,935, 759 33,~43 1,999,638 1,990,826 595, 671 110,302 220,915 12,460 515,000 107' 648 218,369 11' 196 ----- ----- 5,023, 750 5, 067,487 s:nj Contingent liability en Jills ~urc-_a,;;.ad for foreign corresronde"1ts . . . . . . c. 2, 0131296 ---- so.4~ 30 .15~ 76.5~ 17,010 17,315 3.5 ,92G * Inc.luding Vietory notes. .j' 1 f1 St. 3906o, eleased for publication on Friday morning, January 25, 1924; not earlier. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AS AT CLOSE OF BUSINESS, JANUARY 23-, 1924. (In thousands of dollars} RE S 0 UR CE S St.Louis Minn. Kans.Cy. Dallas San Fran. Total 62,372 55.908 49,614 19,942 213,666 2,103,1-+77 1,892 2,862 52,632 3,809 2,370 3,055 Federal Reserve Bank of old with Federal Reserve a>r.ents old redemption fund with U.S.Treas. Gold hel0 exc~usi~ely against F. R. notes Gold settlement fu.'t.Ji'l with F. R. Board Gold and gold certif. held by banks · · Total gold reserves Re3erves other than gold Cleve. Boston New York Phil a. 613,372 170,622 199,835 174,455 9,285 4,774 2,825 9,169 _!ota1 reserves Non-reserve cash Bills discc:.mted: Sec. by U. S. Govt. obligations Other bills discounted .T.otal bills d isc~nted l3 ills bcught in open market U. S. Government securities: Bonds Treasury notes Certificates of indebtedness 279,983 1~023,318 237,633 308,853 113,893 121,438 553,604 108,227 4,080 14,711 2,145 3,831 3, 775 6,567 10,354 5,140 Total U. S, Govt. securities Municipal warrants Total earnir.g assets 5% Redemption fund - F.R.Bank notes Uncollected items Bank premises '.All other resources TOTAL c. , 183,624 62,339 24,160 270,123 9,860 13,671 12,14o 25,811 26,968 544 4,854 1,839 7,237 60,016 622,657 153,136 215,481 991,274 32,044 175,396 19,3 71 36' 107 231,374 6,259 Rich. Atlanta Chicago 64,719 93,397 384,525 4, 377 3,413 4,801 202,710 69,096 97,310 339,326 82,641 33,506 7,344 95,015 13,092 6,459 7,069 53,956 298,443 109,061 111,723 538,297 10,415 4,832 9, 715 15,307 65,927 58' 278 53,423 21,834 216,528 2,156,109 587,327 23,952 18,096 3 7' 451 12,153 41,823 408,226 4, 779 9,016 _3' 299 12,040 22, 768 94,658 85,390 94,173 46,027 281,119 3,151,662 6,611 4,696 119,923 1,636 4,979 13,569 102,726 31,063 21,509 20,746 13,959 23,903 14, 6so 22,969 8,596 14,445 25.t£)9 36,132 38,216. 26,649 125,695 39,659 35,954 46,045 50,091 62,119 41,329 3,045 13,160 38,221 39,655 33,705 43,459 655 1,202 747 5,861 18,576 5,912 1, 774 918 11,175 3,470 1,191 1,040 898 158 1,044 1,051 21,097 15,563 3,1~ 12,975 178,325 94,461 94,976 4,426 5,896 3,637 87 I 026 99,152 52,638 285,815 3,271,585 63,331 3,570 5,079 754 3,325 2,411 9,626 28,775 17,319 38,401 2, 650 85 1,598 7,409 9,007 4-2,534 17 I 035 32,313 49,343 31,860 272,927 267 t 851 540,778 275,997 20,014 76,455 24,457 14,90~ 760 767 7' 116 2,602 596 1,932 8,35S 1,4 71 1,780 5, 12;3 1,049 11,160 1,993 2,253 13,959 10 1,527 10,314 11,761 7,958 13,153 120,9 26 10 52,219. 65,514 114,239 43,511 59,499 94,361 28 12,031 32,749 26,486 39,637 2,262 4, 595 1,911 2, 770 4,070 623 4,663 4~C95 937,711 28 591,436 5l-+: 5 73 17,1 ?0 30,283 50,247 51,924 118,499 50,790 55, 715 6o, 722 32,181 77,999 32,653 8,264 1},641 1,111 9,097 2, 528 2,678 1,409 4,312 rSO 260 410 448 381 299 132 1,659 4oo,447 1,350,153 386,4oo 472,776 233,547 228,826 764,901 191,elo I.36,42c 190,691 148,795 431,so7 4,935, 789 lGaseJ fpr pul;jlica.tion Friday rnorni:ng, January 25, 1924; not earlier. RESOUR~ES AND LIA3ILITIES OF THE FEDERAL RESERVE 31\NKS AT CLOSE OF 3USI:J:S~.s JANUARY 23, 1924. L I ABI L I T I E S •aderal Reserve Bank of R. notes in actual. circulation . n. 3ank notes in circulation - net 'i:lOSits: M'3mber banks - reserve account Gove rnrr.ent Other deposits Total deposits ------- ferred availability items ~!~.:a::a::lities ~ TOTAL LIABILITIES Boston 200,862 N~w (In thousands of dollars) Cleve. Rich. Atlanta York Phil a. C:1icago 389,419 19l,o43 222,238 90,992 132,555 371,667 123,658 738' 510 115,236 158' 452 22, 784 4, 721 4,508 2,674 11,53L_ C93 1,455 133 126,515 . 772,833 120,250 164,415 96,634 44,317 49,042 48,467 7,901 29 J 454 9,941 12,338 16,390 59,929 19,927 23,691 422 T,052 1,884 312 4o0,447 1,350,153 386,400 472,776 Jatio of total reserves to deposit f and F. R. note liabilities r combined J per cant 88.0 65,317 57,249 277,908 2, 771 2,901 4,077 141 1,434 113 63,201 60,291 283,419 56,171 21,460 62,980 5. 791 4,432 15,045 11,672 8,950 30,426 720 1,138 1,364 233~547 228,826 764,901 79·9 St.J.Jcuis LliPJ:'-• Kans.Cy. Dallas San Fran. Total 70,850 02,053 69' 231 2, 738 557 ,72,576 31,949 5,003 10,072 570 191,010 63,335 46,623 208,197 2,049,834 439 439 46,9 72 76,107 2,943 3,564 636 459 50' 3 74 80,307 11,867 32,362 3, 494 4,538 7,484 9,496 1,154 653 136,426 190,691 58,322 147,937 1,934,949 2,112 61,134 5, 391 22,163 4,978 375 60,809 153,306 2,018,296 523 '-'c:;ll' 27' 284 40,4 78 4,208 7,690 110,035 7,577 15,301 220,915 1,855 1,635 12,759 148,795 431,307 4,935, 789 80.4 78.0 75·5 - . ~ Jantingent liability on bills for foreign . ~ correspondents r purchased 5,336 1,463 1,837 885 b97 2,365 748 578 731 612 1,208 17,010 FEDERAL RESERVE NOTES OUTSTANDING .AND IN ACTUAL CIRCULATION ~,_ '· R. notes outstanding R. notes held ~ banks 221,642 20, 780 707,126 231,790 247,727 103,433 148,760 440,559 317,707 40,747 25,489 12,441 16,205 68,892 87,647 68,264 74,838 52,401 262,639 2,646,876 16,797 6,211 11,503 5, 778 54,492 597,042 t. R. notes in actual circulation 200,862 389,419 191,o43 222,238 90,992 132,555 371,667 70,850 62,053 63,335 46,623 208,197 2,049,834 r,. DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS BY MATURITIES From 91 days 16 to 30 d a;ys 31 to 6o days ~1 to 90 days to 6 months Over 6 months Within 15 days Total tills discounted Pills bought in open market ~. s. Certificates of indebtedness ~icipal warrants 357,494 95,035 1 41' 702 56,348 10 72,735 83,416 10,989 40,892 36,755 5 26, o64 4,44~ 3,00 1,891 11,921 540,778 27~,~97 ~ -1 . f}1 10 Released for puolication Friday mornL~g, January 25, 1924, net earlier. St. }906d. FEDERAL RESERVE AGENTS 1 ACCOUNT-S AT CLOSE OF BUSINESS ON J .ANU.ARY 23, 19 24-. (In thousands of dollars) Federal Reserve Agent at RESOURCES Federal Reserve notes on hand Federal Reserve notes outstanding Collateral security for Federal Reserve notes outstanding: Gold and gold certificates Gold redemption fund Gold fun:! - F. R. Board Eligible paper .Amount required Excess amount held TOTAL Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total 100,700 221,642 282,060 60,000 65.970 37,145 77' 557 707,126 231,790 247,727 10},433 14~, 760 136,200 24,300 13,095 32,553 29,394 66,320 925,294 440,559 87,847 68,264 74,838 52,401 262,689 2,646,876 35,300 11,155 128,000 235,531 14,000 8,780 2,400 31,841 14,733 14,105 4,424 81497 346,000 141,889 177,000 60,295 83,000 11,130 13,052 7,680 3,242 1,856 3,254 376,645 48,500 41,000 46,}6o 7,391 327,584 3,051 15,034 119,072 9,500 193,632 1,656,321 47,187 93,754 61,168 47,842 38,714 54,863 56,0}4 24,775 12,356 25,224 32,459 49,023 543,399 5,592 56,131 2,3)_2 29,941 9,084 6,169 44,139 17,012 5,996 1},064 17,~0 31,596 241,086_ 549,576 1,752,493 525,912 591,365 253,095 38},246 1,061,457 216,606 155,619 195,293 152,176 623,294 6,460,132 LIABILITIES Net amount of Federal Reserve notes received from Comptroller of the Currency 322,342 989,186 291,790 313,f$7 140,573 226,317 576,759 111,947 81,359 107,391 81,795 329,0C9 3,572,170 Collateral received from Federal Reserve Bank: Gold. E1 igi b1e paper 613,372 170,622 199,885 64,719 93,897 149,935 63,500 77,783 47,798 63,032 334,525 62,872 55,908 49,614 19,942 213,666 2,103,477 100,173 41,787 18,352 38,288 50,439 80,619 784,~5 TOTAL c. 174,455 52,779 ,. 549,576 1,752,493'525,~12 591,365 253,095 383,246,1,061,457 216,606 155,619 195,293 152,176 623,294 6,46o,1}2
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