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n, —^ mi nnpuu. inn i in '»• " »' STATEMENT FOE THE PRESS Released f o r p u b l i c a t i o n Friday morning, J a n . 30; not e a r l i e r . St. 44li F e d e r a l Reserve Board, J a n u a r y 29, 19 25 • CONDITION OF FEDERAL RESERVE BANKS The c o n s o l i d a t e d s t a t e m e n t of c o n d i t i o n of t h e F e d e r a l r e s e r v e b a n k s on J a n u a r y 28, made p u b l i c b y t h e F e d e r a l R e s e r v e B o a r d , shows i n c r e a s e s of $ 7 0 , 9 0 0 , 0 0 0 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 $ 1 , 6 0 0 , 0 0 0 i n a c c e p t a n c e s p u r c h a s e d i n open m a r k e t , t o g e t h e r w i t h a r e d u c t i o n of $ 2 9 , 4 0 0 , 0 0 0 i n Government s e c u r i t y h o l d i n g s . As a r e s u l t of t h e s e c h a n g e s , t o t a l e a r n i n g a s s e t s a r e $ 4 3 , 1 0 0 , 0 0 0 a b o v e t h e t o t a l r e p o r t e d a week a g o . F e d e r a l r e s e r v e n o t e c i r c u l a t i o n went down $ l 4 , 3 0 0 , 0 0 0 , c a s h r e s e r v e s $ 9 0 0 , 0 0 0 and n o n - r e s e r v e c a s h $ 3 , 0 0 0 , 0 0 0 , w h i l e t o t a l d e p o s i t s i n c r e a s e d $49,100,000. I n c r e a s e s 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 a r e r e p o r t e d by a l l F e d e r a l r e s e r v e banks e x c e p t S t . L o u i s , M i n n e a p o l i s , K a n s a s C i t y and D a l l a s , w h i c h show a t o t a l r e d u c t i o n of $ 1 , 1 0 0 , 0 0 0 . The p r i n c i p a l i n c r e a s e s i n d i s c o u n t h o l d i n g s w e r e a s f o l lows : New Y o r k $ 4 4 , 5 0 0 , 0 0 0 , C l e v e l a n d $ 7 , 9 0 0 , 0 0 0 , C h i c a g o $ 5 , 4 0 0 , 0 0 0 , B o s t o n $4,800,000. An i n c r e a s e of $ 4 , 9 0 0 , 0 0 0 i n h o l d i n g s of a c c e p t a n c e s p u r c h a s e d i n o p e n m a r k e t i s shown by t h e F e d e r a l R e s e r v e Bank of New Y o r k , w h i l e a l l t h e o t h e r r e s e r v e b a n k s r e p o r t o n l y s m a l l c h a n g e s i n t h i s i t e m f o r t h e week. The S y s t e m ' s h o l d i n g s of T r e a s u r y 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 f e l l o f f $ 1 8 , 0 0 0 , 0 0 0 and of T r e a s u r y n o t e s $ 1 2 , 6 0 0 , 0 0 0 , w h i l e h o l d i n g s of U. S. b o n d s w e n t up $ 1 , 2 0 0 , 0 0 0 . R e d u c t i o n s i n F e d e r a l r e s e r v e n o t e c i r c u l a t i o n a r e r e p o r t e d b y n i n e of t h e r e s e r v e b a n k s , t h e San F r a n c i s c o b a n k s h o w i n g t h e l a r g e s t d e c l i n e - $ 5 , 2 0 0 , 0 0 0 . New York - shows a d e c l i n e of $ 3 , 5 0 0 , 0 0 0 , C h i c a g o - of * 3 > 3 ^ 0 , 0 0 0 and. D a l l a s - of $2,100,000. The B o s t o n , P h i l a d e l p h i a and C l e v e l a n d b a n k s r e p o r t a c o m b i n e d i n c r e a s e of $ 5 , 0 0 0 , 0 0 0 i n F e d e r a l r e s e r v e n o t e c i r c u l a t i o n . A summary o f c h a n g e s 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 b a n k s d u r i n g t h e w e e k and t h e y e a r e n d i n g J a n u a r y 2 8 , 1 9 2 5 , f o l l o w s : I n c r e a s e or d e c r e a s e d u r i n g Week $900,000 5,300,000 Year $180,400,000 203,800,000 Total reserves , Gold r e s e r v e s - Total earning assets . . . . . B i l l s discounted, total . . • • • « S e c u r e d by U . S . Government o b l i g a t i o n s Other b i l l s discounted . . + + + + 43,100,000 70,900,000 62,900,000 8,000,000 + + 1,600,000 + 36,000,000 29,400,000 1,200,000 12,600,000 4. 273,300,000 57,600,000 202,300,000 13,400,000 B i l l s b o u g h t i n open m a r k e t f » » « U. S. G o v e r n m e n t s e c u r i t i e s , t o t a l 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 Federal Reserve notes in c i r c u l a t i o n . . . Total deposits 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 deposits . . . — + - 18,000,000 - 14,300,000 + + + — 49,100,000 31,100,000 21,000,000 3,000,000 - - - + + + 73,700,000 248,600,000 94,400,000 154,200,000 338,200,000 + + + + 274,100,000 244,000,000 11,200,000 18,900,000 St. 44Ua R-eleasred -for* p u b l i c a t i o n F r i d a y m o r n i n g , J a n u a r y 3 0 , 1 9 2 5 . "RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( I n t h o u s a n d s of d o l l a r s ) Jan. 28, 1925 J a n . 21, 1925 J a n . 3 0 , 1924 R E S O U R C E S Grol^ 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 f u n d w i t h U. S. T r e a s u r y Gold h e l d Exclusively against F«R.notes Gold s e t t l e m e n t f u n d w i t h F. R. Board . Gold and g e l d c e r t i f i c a t e s h e l d by banksf . 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 1,795,312 2,178,106 590,815 564,232 592,394 557, 0 l 4 573,226 2,939,386 2,944,720 3,143,153 l43,l60 138,715 119,758 3,032,546 3,083,435 3,262,911 391,821 164,892 108,800 101,946 100 >811 259,280 263,027 273,692 202,757 522,307 307,7^7 306,176 271,792 76,174 279,665 J>S, 225 74,94? 292,307 56)2-0 18,584 77,355 24,833 . 394,064 423>464 120,772 * lv.5^0 2, 559 10> 500 2, g'o9 10 988,5^2 945>45b 914,881 ~ 572>000 57>939 24,831 ~ o2b,914 57,902 24,604 531,163 54,59*+ 19,027 4,800,269 4,815,633 4,842,265 1,684,311 ~ 1>698>628 - 2,022,514 2,171,723 52,114 41,379 2,l40,oil 31>146 44,339 1,927,714 40,941 22,430 2,265,216 2,216,096 1,991,085 510,336 112,246 217 >837 10,323 561,045 112,187 217,837 9>840 484,338 110,043 220,915 12,936 4,800,269 4,815,633 4,842,265 Total earning a s s e t s 5$ R e d e m p t i o n f u n d - F . E. Bank n o t e s . Uncollected items Bank p r e m i s e s . • All other resources TOTAL RESOURCES 1,784,339 59,661 . . . . F o r e i g n l o a n s on g o l d All other earning a s s e t s 2,127,175 50,931 77 * 322 Total b i l l s discounted. . . . . . . . T o t a l U. S. Government s e c u r i t i e s 1,744,722 50? 590 74,371 Non-reserve cash • • • • Bills discounted: S e c . by U . S . Government o b l i g a t i o n s . Other b i l l s discounted « B i l l s b o u g h t i n open m a r k e t TJ. 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 1>730,6J9 53,6b0 28 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. P. Bank n o t e s i n c i r c u l a t i o n - n e t . Deposits: Member b a n k - 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 Deferred a v a i l a b i l i t y Capital paid i n . . Surplus . . All other l i a b i l i t i e s . \ . . . . items . '• . 434 • TOTAL LIABILITIES . . . . . . . R a t i o of t o t a l r e s e r v e s t o d p p o s i t and. F . R. n o t e l i a b i l i t i e s combined . . . . 78.0/0 78.8/6 81.3# 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 . . 47,174 47,332 16,843 C. B e l eased f o r puo <. i c a t i c u F r i d a y m o r n i n g , J a n u a r y jO, 1 9 2 5 ; n o t e a r l i e r . S t . 4411b RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, JANUARY 25, 1925. R 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 R e s e r v e Bank of Boston 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 150,085 Gold r e d e m p t i o n fund w i t h U . S . T r e a s . 1 5 , 7 7 7 Gold h e l d 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 ftind w i t h F . R . B o a r d Gold and g o l d c e r t i f . h e l d by, banks 165,862 53,554 20,839 T o t a l gold r e s e r v e s 240,255 Reserves o t h e r t h a n gold 12,764 Total reserves Non-reserve cash B i l l s discounted : Secured by U.S.Govt, o b l i g a t i o n s Other b i l l s discounted 253,019 3,856 New York Phila. CIeve. Rich. A t l a n t a Chicago S t . L o u i s Minn. K a n s . C y . D a l l a s San' F r a n . Total 444,047 159,128 l ? 0 , 4 l 7 5,018 9,431 3,537 78,458 144,054 165,795 1,807 1,330 3,926 53,533 3,677 67,945 1,438 61,179 3,182 3 3 , 7 1 9 202,319 1 , 7 3 0 , 6 7 9 2,404 2,083 53,660 449,065 168,559 1 7 3 , 9 5 4 80,265 145,434 169,721 57,210 69,383 64,361 36,123 204,402 1,784,339 212,088 289,632 11,963 21,900 8,675 78,534 9,602 110,067 20,699 8,772 23,163 6,345 43,441 4,276 19,876 10,005 950,785 224,470 253,096 114,128 163,711 353,322 86,631 93,891 112,078 33,018 29,764 26,147 5,726 55,595 23,547 11,406 6,670 12,898 19,637 19,487 2,128 590,815 564,232 66,002 270,967 2,939,386 4,107 983,803 230,196 264,502 120,798 176,609 377,959 106,168 101,019 116,185 4,412 2,676 6 , 0 5 8 10,019 5,200 3,805 943 28,509 1,927 33,463 33,102 5,673 143,160 75,648 276,640 3,082,546 2,831 4,135 74,371 200 14,673 5,913 69 , 291 15,210 18,572 6,785 10,166 19,203 784 13,482 21,130 16,591 3,642 4,131 120 3,931 684 4,137 2,674 6,717 6,577 164,892 108,800 Total b i l l s discounted 20,586 84,501 25,357 32,809 25 , 639 14,266 37,721 7,773 4,051 4,821 2,874 13,294 273,692 B i l l s b o u g h t i n open m a r k e t U. S = Government s e c u r i t i e s : B ond s 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 45,406 67,191 16,689 37,963 1,258 4,901 30,483 20,074 12,424 22,006 49,372 307,767 2,472 18,125 4,750 12,440 93,870 1,345 22, 2*4-5 11,126 1,340 1,960 230 1,160 1,806 19,461 37,042 3,482 1,264 8,943 io4 10,427 675 7,940 14,925 2,495 3,718 13,429 1,070 3,185 30,391 6,792 76,174 279,665 33,225 3,530 3,624 59,985 1,564 10,311 21,179 25,360 18,217 40,368 394,064 519 374 9 474 500 798 10,500 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 g o l d All other earning assets Total earning assets Uncollected items Bank p r e m i s e s All other resources TOTAL RESOURCES 25,547 - - 8,202 l l 4 , 512 3,055 - 2,262 25,852 1,032 2,050 22,643 27,143 7,505 45,779 1,220 6,436 603 658 462 - - - - 10,077 399 - — 2,559 91,339 269,259 70,980 117,771 31,030 23,253 129,753 38,677 25,613 43,579 43,496 103,832 988,582 50,867 4,190 189 125,787 51,777 50,386 2,446 71,812 8,099 2,317 31,393 3,385 316 36,319 4,024 767 26,078 293 28,350 2,780 2,110 12,631 7,963 52,960 7,573 421 572,000 57,939 24,831 16,250 1,114 652 2,982 3,352 1,833 1,831 33,140 3,263 4,620 4 0 3 , 4 6 0 1 , 4 3 1 , 5 7 1 356,287. 4 4 8 , 4 2 7 2 0 9 , 1 1 7 2 3 9 , 1 6 0 5 9 9 , 9 5 9 1 8 4 , 8 5 1 l 4 6 , 5 4 o 2 0 3 , 5 5 0 1 5 1 , 7 1 7 4 2 5 , 6 3 0 4 , 8 0 0 , 2 6 9 Released f o r p u b l i c a t i o n F r i d a y m o r n i n g , J a n u a r y 3 0 , 1925J n o t e a r l i e r . RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS AT CLOSE OF BUSINESS, JANUARY 28, 1925L I A B I L I T I E S i 1 ( i n t h o u s a n d s of d o l l a r s ) New . <-* • CI e v e . Rich. A t l a n t a C h i e a g o oS-t . L o u i s Minn. K a n s . C y . D a l l a s San F r a n . T o t a l LNG IW York I V JX PJ- hXiI. JlLaX 338,531 149,462 182,839 76,297 1 3 8 , 4 % 183,189 54,088 66,725 66,846 48,076 194,238 1,684,311 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 Boston 185,5^9 Deposits: Member b a n k - r e s e r v e a c c o u n t Government Other d e p o s i t s 14-0,331 3,688 151 845,739 127,155 179,858 18,364 2,665 2,336 30,934 376 908 67,564 2,460 143 64,604 304,609 2,051 1,699 81,534 2,672 86,525 2,938 60,394 158,101 2,171,723 2,123 9,580 52,114 1,169 55,309 1,538 358 144,170 895,037.130,196 183,102 70,167 66,987 307,408 85,375 57,205 90,388 62,638 172,543 2,265,216 ' 106,895 45,836 46,374 44,448 2 9 , 8 9 T 10,957 32,568 30,165 10,510 12,735 5,901 58,7^9 2,194 20,059 224 22,462 915 11,701 19,530 4,591 8,950 631 28,517 4,139 7,592 755 Total deposits Deferred a v a i l a b i l i t y items C a p i t a l paid, i n Surplus i l l 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 and. F . R . n o t e l i a b i l i t i e s combined, p e r c e n t 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 oreign correspondents 49,046 8,004 ^6,382 309 332 603 1,100 62,006 15,405 30,426 1,525 5,090 3,272 9,971 434 7,497 884 121 925 4,331 8,977 440 4,862 34,266 8,103 15,071 1,409 41,379 510,336 112,246 217,837 10,323 403,460 1,431,571 356,287 448,427 209,117 239,160 599,959 184,851 146,540 203,550 151,717 425,630 4,800,269 76.7 79.8 82.3 13,646 ~ 72.3 4,729 82.5 5,438 . 2,743 86.0 77*0 2,081 76.1 7,046 81.5 2,3#+ 73*9 1,655 2,081 68.3 1,797 75*4 3,594 78.0 47,174 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F, R. n o t e s o u t s t a n d i n g JF. R. n o t e s h e l d by b a n k s 201,822 16,273 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 185,549 K % n'.ffo 338,531 149,462 182,839 ll:W, ajna % 76,297 138,471 183,189 54,088 % ^ f r r % 66,725 66,846 48,076 194,238 1,684,311 DISTRIBUTION OF BILLS, MUNICIPAL WARRANTS AND U. S . CERTIFICATES OF INDEBTEDNESS BY MATURITIES W i t h i n 15 d a y s 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'warrants " 202,035 90,251 14 l 6 to 3° days 17,691 78,374 196 9 31 t o 60 days 6 l t o 90 d a y s 28,531 96,502 15,069 34,973 296 From 9 1 d a y s t o 6 months . 9,031 7,667 3,022 Over 6 months 1,335 34,G?i Total 273,692 307,767 38,225 q St. 441Id. Beleased f o r p u b l i c a t i o n F r i d a y morning, J a n u a r y JO, 1925; n o t e a r l i e r . FEDERAL RESERVE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS, JANUARY 2 8 , 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 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 on h a n d Federal Reserve n o t e s o u t s t a n d i n g Collateral security for Federal Reserve notes o u t s t a n d i n g : Gold and g o l d c e r t i f i c a t e s Gold r e d e m p t i o n f u n d 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 66,150 201,822 New York Phila. CI e v e . 329,5^0 46,000 67,550 508,500 193,556 200,179 Rich. A t l a n t a Chicago S t . Louis 25,444 62,831 2 59,537 25,660 95,932 160,183 197,864 62,143 35,300 12,785 l i s 102,000 51,737 14,255 ™ 2 : 1 I t i i i Minn. Kans.Cy. D a l l a s San F r a n . Total 18,143 69,603 29,873 74,223 19,27 2 6 5,200 1,015,200 13,052 1,393 53,500 4,819 56,360 14,511 281,849 3,708 15,089 107,412 15,500 187,230 1,341,418 1,658 1,865 13,044 4,080 22,461 2,322 56,180 252,983 2,073,168 50,664 11,615 342,489 214,821 4S4,049 1 , 4 1 8 , 0 6 5 436,579 5 0 6 , 4 5 1 226,641 386,068 691,152 169,004 1 5 9 , 2 i 4 182,399 133,954 582,781 5 , 3 7 6 , 3 5 7 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 received from Comptroller 267,972 of t h e C u r r e n c y C o l l a t e r a l received 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 8 3 8 , 0 4 0 2 3 9 , 5 5 6 2 6 7 , 7 2 9 121,376 2 2 3 , 0 1 4 4 5 7 , 4 0 1 87,803 87,746 104,096 yfrgg M f i M S ' l M 11:^7 ^ f f o o 75,452 318,183 3,088,368 484,049 1,418,065 436,579 506,451 226,641 386,068 691,152 169,004 159,214 182,399 133,954 582,781 5,376,357
@FedFRASER