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j" .. ! FOR THE PRESS STATE~T St. 3321. Federal Reserve Board, January 25, 1923. Released for publication Friday morning, Jan. 26; not earlier. CONDITION OF FEDERAL RESERVE BANKS. i K I l k An increase of $59,6oO,OOO in discounted and purchased bills, offset by of an e~ual amount of Government securities. largely TreasuTy certificates, is the outstanding feature of the Federal Reserve Board's weekly consolidated bank statement issued as at close of business an January 24, 1923, Cash reserves show a further gain for the week of $7,800,000, the total of $3,221,981,000 setting a new high record since the opening of the Federal reserve banks. Deposit liabilities increased by $21,300,000, Federal reserve note circulation declined by $31,300,000, while the reserve ratio shows a rise for the week from 76.1 to 76.4 per cent. li~uidation Gold reserves of the System show an increase for the week of $2,600,000. Shifting of gold through the settlement fund accounts . for an increase of the gold reserves of the Cleveland bank by $17,200,000, Richmond and Minneapolis report an increase of $4,100,000 each, w'b.ile smaller increases totaling $4,800,000 are shown for the Kansas City~ Atlanta, Chicago and San Francisco banks. The largest decrease in gold reserves for the week, amounting to $7,700,000, is shown for the New York b~, Boston reports a decrease of $7,400,000, while smaller decreases, aggregating $12,400,000, are shown for the St. Louis, Philadelphia and Dallas banks. Holdings of paper secured by Government obligations show an increase for the week from $284,000,000 to $341,600:000. Of the total held on January 24, $152,6oO,OOO, or 44.7 per cent, were secured by United States bonds, $1,900,000, or 0.5 per cent, by Victory notes, $1)4,900,000• or 39·5 per cent, by Treasury notes and $52,200,000, or l),j per cent, by Treasury certificates, compared with $138,500,000, $2,000,000, $117,700,000 and $25,800.000 reported the week before. A summary of ?hanges in the principal assets and liabilities of the reserve banks on January 24, 1923, as compared with a week and a _year ago, follows: or Decrease since 17, 192} Jan, 25, 1922 Increase Total reserves . Gold reserves ~· ..' 'f • • f • .. • • Total earning assets . Discounted b:i.lls, total . , . . . .. Secure~ by U. S. Government obligations Other bills discounted • A • + + • .. , Purchased hills •.. . . . . . United States securities, total . Bonds an\~ n')tes . • • . . . . U. S. Certificates of indebtedness •• 56.0 280.4 16.3 264.1 59·6 + 121.8 + 102,8 + 101.1 + l. 7 + 21.4 + 6.1 + 23.7 8.4 + 272.2 + 2. 7 - + 41.2 '81.7 }.2 10.0 ... 69.6 . .. Federal Reserve notes in circulation F. R. Bank r.otes in· circulation, net 1 iability . · + 56.4 + 57.6 1.2 + ' ...... + 16}.1 + 175·9 + . . Total deposits . . . • . . . Members' 1.·eserve deposits Government deposits Other deposits • • . • • . 7.8 2.6 }1.} + 212.0 62.9 (· I P.eleased for pu.hlicat.ion Friday mo't"ni:nt:;t Jm1. 26, 192jj not earlier. I RESOURCES .AND LIAB CJJITIES OF THE TWELVE FEDERAL RESERVE BAL'UCS COMBINED. ,.~ I (In thousands of dollars) RESOURCES Jaq.:..2~_,__19n. I I ~ I I r, I l r ~ I I St. 3321a. (}old and gold certificates . held 122 banks . Gold with Federal Reserve Agents Gold redernpt ion fund . . Total gold reserve~ . Reserves other than r.;old Total reserves .. , •. b6n~s and notes ..• u. s. Municipal warrants • ·. . . . . , • • Total earning_assets 5% .. .. . 85lt, 849 2,181,121 44, lb1 3,080,137 __14!L344 8}2,0b9 2,195,474 - 49,949 3,077,492 1}6,645 2.3.5.a.~ 3;214,137 ~ 7&.o'IJ 82,178 . 341, ~ 228 es62041~ t(S"'-f ';)..$I . 774,282 166,857 185,962 4 1,127,105 46,4oo TJ. s, Certificates of indebtedness , Bank ptemi ses . • . . . . . Redemption fund against F. R. Bank notes . ' Uncollected items All other resources ' 296,840 3•221,981 Non-reserve cash . • . . Bills discounted; Sec. by U.S. Government obligations • Other bills discounted . . Bills bought in open market · . 1 • , • , Total bills on hand 298,207 ~6l~2 Jold settlement fund - F. R. Board . ~gold Jan. 1L__19.g} Jan, 25,.Jagg .. .... t .. 310 530,148- s * 357 '921 492,252 _ __g_rQ9_ 9,32,832 65,761 184,278 206 1, 183,127 36,199 . 5,138,467 7,870 481,760 12,719 4,780,530 107,484 218,369 103,067 215.398 J ___12~ 5,0"fl, 399 TOTAL RESOURCES . . , 284,017 229,328 2011 ~25 714,680 156,878 255,554 10 l, 127 ~ 122 45,895 333,541 43 3. 222 866,763 1,939,792 ___:9.L.§9.l 2,904,248 154,601 3,058,855 t.:.7.'1'J7 L I AB I L I T I E S 107,648 218,369 Capital paid in Surplus , • , . • . . . . . . Deposits: Government . . . • . . • . . . Member bank - reserve account Other deposits . • • , . .. . .. Total deposits F. R, notes in actual circulation F. R. Bank notes in circulation net liability . • . . . . Deferred availability items . . All other liabilities •• TOTAL LIABILITIES • • 1,990,326 !.31' 2,225-;23"l:" .... ' 1, 778 ,SO} 2,256,491 2,184,001 3,132 .j-,ooo , 11,196. . •· 5.071, 399 5,138,467 .. •· +,969,451 3,117 573.705 9.850 Ratio of total reserves to depOsit and F. R. note liabilities combined . • • 9 t 341 95,915 33,o4v"~ 1,918,4Ge-'1r- 1,652,310 l,924,5tl 41,642- I b 30, 21.§. }3.2~'1 51~ ~?. c.t<i>1 / 76.~ ~ *Not shOwn separately prior to January 1923. s4,87c 397 763 16,622 4,780,530 I Released for publication Friday morning,. January '26, 1923; not earlier. RESOURCES AND LIABILITIES OF THE F.EDERAL RESERVE :BANKS AT CLOSE OF BUSINESS, Jl\NUARY 24, 1923. 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 gold Total reserves Non-reserve cash .Bills discounted: Secured by u. S. Govt. obligations Othe~ bills discounted Bills bought in open market Total bills on hand U. S. bor.ds and notes U. 5. Certificatas of indebtedness Boston 17,002 36,210 53,212 166,427 8,54] 228,186 8,944 237,130 10,912 RESOURCES New York Phila. Cleve. Rich. 137,169 . 20,81.Kl 13,874 6,4o4 158.883 26,100 93.531 31,155 296,052 46,94o 107,4o5 37,559 645,6o4.176,644 198,279 67,348 8,324 3.172 2,476 2,005 .949.980 226,756;.J08,160 106,912 27,468 - 15,148 10,841 12,230 .... 977,448 '241.,904 319,007 119,142 2,627 8,958 5,040 3,718 ·-~ 22,622 191,283 33,784 19,063 '].5,~481 25,358 7.379 10,099 23,758 32,066 25,614 41,123 706 TOTAL RESOURCES Atlanta 5,879 23,489 29,368 105,134 2,179 136,681 8,848 l!i'j-,52.9 9.791 ChicagQ 51,788 62,146 113,934 415,183 3.549 532,657 26,471 559,128 12,594 St.Louis Minn. Kans. Cy. Dallas San Fran. Total 3,045 1 ' 690 2, g 36 11 , 17 6 20, 504 298' 207 : 14,733 31,709 34,209 11,787 }2z690 556.,642 17,778 39,399 37,045 22,963 53,194 854,849 81,409 47,673 60,375 15,319 201,726 2,181,121 2,86o 2,661 2,764 1,562 4,077 44,161 102,047 89,733 100,184 39. 844 258,997 3' 060' 137 15,506 6,093 4,925 141,844 656 4,708 117,553 90,389 104,892 45,937 26},922 3,221,981 ' 4,747 2,362 4,523 5, 825 ~, 86r 7-9T958 'f. g,lof~ 345,557 96,168 96,619 10,478 66o 7,439 2,472 2 20,149 3 7.199 10,039 41,286 2,617 32~249 126,034 2,o6o 8,306 2,215 54,266 27,396 919 978 64 f( 124,0~ 49,368 478 f1 '16 lo, OC/ 3 ~ 12,868 22,638 32! 800 3lot1, 228,Q96J.IJ 204. 547 68,356 Z7 ,616 1,150 774,282 166,857 185,962 4 . 46, 14o 397 .. 8,820 1,073 4,768 1,625 5,975 17,529 13,804 15,089 15,228 85 21,368 248,707 66,777 70,285 39,945 29,820 77,419 }0,023 18,6o2 18,657 38,082 398 . 6, 716 18, 218 8,295 26,931 29.933 24,798 12, 326 1,. .341 3. 729 66,917 4,593 14,008 2,031 41,899 6,025 495 11,593 8,629 Municipal warrants Total earning assets Bank premises 5% Redemption fund against F. R. Bank notes Uncollected items All other resources (In thousands of dollars) ,..J). 20,985 28,305 18,319 St. 3321 'b. 56,939 57,192 26,2.97 754 4so 290 72,199 977 57,181 4,731 200 50,440 103,122 1,127,105 1,937 1,841 46,4oo 46 310 35,704 14,298 37,047 22,304 38,582 __ sg_'±___ .h9~_g __.___~g_ __ 1_,.9_4o 4,918 580' 1~1 15.497 395,800 1,468,73~391,205 485,798 224,405 216,216779,302 213,713137,065 209,486128,429 421,246 5,0~ . 1 17,33/ - ------ -·--- ~ ·&>7,1f$7 I Released for pU:bll.cation :Friday morning, Jan~ry 26, 1923; not earlier •• St.332lc_ BBSOl.i1WES AlTD !.IA3ILITIES OF THE FEDERAL RESERVE BANE:s AT CLOSE OF EUSlNESS JANUARY 24, 1923. L I AB I L I T I E S (In thousands of dollars) Boston New York Phila. Cleve. Rich.. 28;737 9.332 3,123 Capi to-1 paid in 59,300 18,749 16,312 Surplus. Deposits: 4,24o 6,369 3.992 Government 127,214 722,717 115,918 Merr1ber bar~ - reserve account 1,134 10,856 1,041 Other deposits · 739,942 120,951 To tal d.e:po .;its 132 ,588 F. ~ notas in a~tua1 circulation 195,086 545,265 197,481 F. R. Bank notes in circulation ~ nat lia::ili ty . 92~05t' 44~237 43,331 Deferreci avai1abili ty i terns . 360 2,938 455 All other liabilities . 395,800 1,468,73~ 391,205 TOTAL LIABILITIES Ratio of total reserves to deposit 1 a~d F. R. note liabilities 76.0 76.1 72 .. 4 combined, per cent 11,711 5,607 11,288 Federal _Reserve :Bank ~3.495 Atlanta Chicago St.Louis Minn. 4,345 14,345 3 '942 30 '3 98 4,837 9,665 2,491 1,181 2,222 2,270 ~ 3,116 163.669 66.326 55,623 273,7~ 70,739 2,861 271 765 851 1, 9~3 169,021 67.718 53,696 233,002 74,620 228,464 90,582 118,718 339,307 86,419 3.578 7.473 Kans.Cy. Dallas San Fran. 4,614 9,483 7, 737 4,132 7,496 15,263 107,648 213,369 2, 330 1,079 2 '979 33,042 '-1 773 50,306 80,449 54,254 133,529 1,924.521 ~7.;."1 4.,_.;°6~') 2,469 5.384 )), 2c3 ~ Lj 55,105 86,606 56,044 146,473 1.990,626 56,398 66,701 34,437 21~ 2)!2~ ~. <j .!J& / Contingent liability on bills purchased for foreign correspondents Total /, J I (C. 185 2,185 762 3,132 48,700 24,886 60,510 37,453 13,676 39,457 23,976 34,401 514-;-9-9-T~-;o<>o 789 450 629 1,055 719 835 435 1,532 999 11,196 485,798 224,4o5 216,216 ?79.302 213,713 137,065 209,486 128,429 4~ 5.0~ 52~318 11.1n 80.3 75.2 q 32,.0 73.0 8Ll 68 .. 4 r.. 7 .1/r7 50.3 I'" 33,922-" 12,475 2, 711 2, 1,661 1,220 4,033 1,593 915 1,627 881 1,559 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION .!>-CJ.~;J.. 7 F. R. notes outstanding 212,014 749,829 218,412 251,327 101,247 124,704 454,078 106 1 674 60,674 74,652 37,729 262,78512,654,125 · F. R. notes held by banks 16,928 204,564 20,931 22,863 10,665 5,936 64,771 20,255 4,276 7.951 3,292 ~ 42~3a.!ro'j F. R. notes in actual circulation 195,086 545,265 197,481 228,464 90,582 118,718 389,307 86,419 56,393 66,701 3 1 ~,437 21~ 2,22~ .;I. Y':J-'t I 3 1-t, DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF INDEETEDNESS AND MUNICIPAL WARR!u'JTS 'JY wlATURITIES . Total Over 90 days 61 to 90 days 31 to 60 days .16 to 30 days Within 15 days 36,641 27,272 569.735 421,946 52,300 31,576 Bills discounted 204,547 9,294 29,204 52,446 41,930 71,673 Bills bought in open market 80,918 14,507 76,567 185,96fr 13,970 U. s. Certificates of indebtedness 4 Municipal warrants 2,474 nt Released for publication Friday morning, January 26, 1923; not earlier_ St.332l.d. FEDERAL RESERVE AGENTS' ACCOUNTS AT CLJSE OF BUSINESS, JANUARY 24, 1923. (In thousands of dollars) .Federal Reserve Agent at Boston New York Phila. C;LevE?~ Rich. Atlanta Chicago St~!.oui.s ·Minn. Kans.Cy. Dallas San Fran. Total RESOURCES Federal Reserve notes on hand - 84,700 ·Federal Reserve notes outstanding 212,014 i C~llateral secvrity for Federal Reserve notes outstanding: Gold and gold certificates •15 .. 300 Gold redemption fund 13,127 Gold fund. - F. R. Board 138,000 Eligible paper l'!mo1..mt required . 45,587 Excess amount held 22,022 TOT.AL 333,690 59.520 41,490 31,360 80,349 749,829 218,412 251,327 101,247 124,704 94.560 26,14o 12,210 21,360 20,744 63,125 934,748 454,078 106,674 60,674 74,652 37 729 262 735 2,654,125 2,400 270,531 7,000 13,27a 34,073 14,755 15,00 3.553 8,734 341,000 154,889 170,000 63,795 94,000 11,780 13,052 14,539 4,129 1,621 4,015 400,644 65,500 33,000 56.36o J J 6,471 339,809 2·,848 17,249 133.647 6,000 184,477 1.707,665 104,225 41,768 53,048 33,899 19,570 38,895 25,265 13,001 14,277 22,410. 61,059 473,004 124 226 20,055 16,990 4,306 10,245 38,524 4,758 5,105 4,380 15,548 7,142 273,801 530,750 2,022,574 516,399 561,134 238,660 34o,502 1,041,240 244,246133,663 175.044 111,750 595,837 6,516,799 LIABILITIES Net amount of Federal Reserve notes received from Comptroller of the Currency 296,714 1,148,519 277.932 292,817 132,607 205,553 548,638 132,814 72,884 96,012 58,473 325,910.3,538,873 Collateral received from Federal Reserve :Bank: Gold Eligible paper 166,427 67.609 415,183 81,4o9 47,673 6o,375 15,319 201~726 2,181,121 77 ;419 30,023 18,106 18,657 37,958 63,201 746,805 TOTAL 645,604 176,644 198,279 67,348 105,134 228,451 61,823 70,038 38,705 29$15 530~·750 2,022,574 516,39'3 561,134 238,660 340,502 l,041,24o· 244,246 138,663 175,044 111,750 595,837 6.?16,799
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