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STAT~
FOR THE PRESS
St,414s
Federal Reserve Poard,
July 17, 1924.
Released for publication
Friday morning, tT'Uly 18;
not earlier.
CONDITION OF FEDERAL RESERVE BANKS
T.h.e consolidated statement of condition of the Federal reserve banks on July 16,
made public by the Federal Reserve Board, shows a further reduC'.tion of $10,500,000
in aggregate holdings of earning assets, Holdingsof discounted bills d.eclined by
$5,500,000 and of acceptances purchased in open market by $21,100,000, while Government security holdings increased by $16,100,000. Federal reserve note circulation
declined. by $42 1 300,000, while cash reserves increased by $21,100,000 and d.eposit
liabilities by ~65,100,000.
An increase of $6,900,000 in holdings of discounted bills is reported by the
Federal Reserve Bank of New York and nominal increases by the Federal Reserve Bartks
of Philad.elphia, Minneapolis and Dallas. The eight remaining banks report a total
reduction of $15,4oO,OOO, the San Francisco bank showing the largest decline, ·of
$7,200,000, Chicago - a decline of $2,800,000, and RichrrJOnd- a decline of
.
$2,300,000. Paper secured by U. s. Government obligations increased by $2,6oO,OOO
to $97,200,000. Of this amount, $81 ,4oo,ooo was secured by Liberty and other U, s.
bonds, $14,900,000 by Treasury notes, and $1,000,000 by certificates of indebtedness,
Smaller holdings of acceptances purchased in open market.are shown by all Fed~
eral reserve banks except Philadelphia, which reports an increase of $100,000. The
New York and Boston reserve banks report declines of $14,300,000 and $4,6oo,ooo,
respectively, in this item. All reser'le banks participated in the increase of.
$16,100,000 in holdings of Government securities exaept Richrr.ond, which shows no
change for the week. Of the total increase in Government security holdings,
$14,soo,ooo was in Treasury notes and $1,40o,ooo in C'.ertifiC'.a.tes of in(lebtedness,
Holdings of U. s. bonds declined. by $100.;000.
With the emeption of the Kansas City bank which shows an in<\rease of $200,000,
all Federal reserve banks report a smaller volurr1e of Federal reserve notes il;l ci~.
culation, the principal decreases being as follows: Chicago $7,800,000, Cleveland ..
$7 ,600,00Q, San F~ancisco $6 1 500,000, New York $6,000,000, Philadelphia. $4,700,000,
and 'Boston $4.500,000. Gold reserves increased by $17,100,000 during the we~ak, .
Reserves other than gold by $4,000,000, and Non-reserve aash by $2,100,000.
A summary of ahanges in the principal assets and liabUi ties of the reserve
banks during the week and the year ending July 16, 1924, follows:
Increase or decrease during
Total reserves • • • .
Gold reserves • • •
l
•
•
•
...
. ...
'
f
········
Total earning assets • • • . • , • • , • • •
Bills discounted, total • • • , • •
Secured by u. s. Govermnent obligations
Other bills discounted • • • • , , •• ,
~:
0
'Bills bought in open market
U,
s.
•
•
••
0
•
•
Government securities, total • • • •
Eond.s • . . • • . • . • . . . . .
Treasury notes •
Certificates of indebtedness
0
• • •
••••••••
•
0
•
• ••.•
Fed.eral Reserve notes· in circulation ••
Total deposits • • • • . . .
Members• reserve deposits • • •
Govertm~ent d epo sits • • •
• • • •
Other deposits • . o • •
0
w.
I
•
•
•
•
Week
+ $21,100,000
+ 17,1oo,ooo
Year
+ $83,000,000
+ 6o,soo,ooo
-
10 ' 500 t 000
5,500,000
+ 2,6oo,ooo
8,100,000
- 276 ,4oo,ooo
-
- 145,700,000
21,100,000
- soo,6oo,ooo
- 311,100,000
- 189,500,000
368,6oo,ooo
+ 16,100,000
100,000
+ 14,800,000
+ l,4oo,ooo
+
+
+
+
.:. 4()4,300,000
+ 201,500 ,ooo
+ 201,600,000
+
100,000
200,000
42,300,000
65,100,000
48,4oo,ooo
15,300,000
+ 1,400,000
4,300,000
+ 277,900,000
+ 95 ,ooo ,ooo
Be~eaeed for publir.ation Friday merning·, July
..
\
ltf,
1924; not earlier.
St.414Sa
FESOURCES AND LIA][LITIES
OF. THE TWELVE FEDERAL BESERVE BANKS COMBINED
(In thousands of dollars)
July 16, 1924 July 9 I 1924 July lS, l9fl
RESOURCES
Gold with Federal reserve agents . • . , ,
Gold redemption fund with u. S. Treasury •
Gold held ext\lusively against F. R.notes,
Gold settlement fund with F. R. Board • •
. Gold and gold certificates held by banks
Total gold reserves . • • . . • , .
Reserves other than gpld
• •
To tal reserves • • •
• •
NOn-reserve cash • . . .
Bills discounted:
Sec. by u.s. Government obligatiOns • •
Other bills discounted . , . . . .
.
...
..
.
To tal bills discounted •
Bills bought in open market
u. S, Government ser.urities:
.
..
.
~
:Bond s , • . • . " • • . ., ., •
• • • • •
Treasury notes , • • • . • • , • ,
Certificates of indebtedness • . • . . •
Total U. S. GoverDnent securities
All other earning assets • • , • . .
••
..
Total earning assets , • • . . . . .
5% Redemption fund - F. R. Bank notes , ,
Uncollected i tens • . • . • • , • •
Bank: premises • • . • • . . • • . .
All other resources • •
, •
TOTAL RESOURCES
...
• • . .
2,111,173
37.657
2,1~8,830
574,339
[1.37.381
3,160,550
105,864
3,266,414
57.312
2,099,835
37,433
2,137,268
~95,604
410,'530
3,143,4o2
101,904
3,245,306
54,574
2,052,131
52,001
2,104,132
653,784
31+1 ,804
3,099,720
83,702
3,183,422
81,261
2.08,008
97~235
94,601
216,106
408,359 .
397,470
305,243
37,428
310,713
58,509
805,829
183,121
20,752
344,857
100,965
20,862
330,051
99,587
25,016
66,999
5,94o
466,574
1,250
S10,495
450,500
1,250
97,955
10
820,972
655,099
57.932
27,023
6o4,433
57,907
26,412
1,086,915
193
674,936
53,203
13,031
4,874, 275
4,809,6o4
5,092,961
1,812,712
1,855,005
2,216,994
1,296
2,085, 203
34,514
24,288
2,144,005
2,036,852
19,151
22,907
1,883,644
34,432
2,078,910
1,942,521
573.337
111, llo5
220,915
11,901
531,328
111,400
220,915
12,046
586,567
109,714
218,369
17,500
4,874, 275
4,809, 6o4
5,092,961
Lt~BILITIES
F, R. notes in actual circulation • . • •
F. R. Bank notes in circulation - net • .
Daposi ts:
Member bank - reserve account
Government t • • • . • . .
Other deposits • , • . .
• • •
'
. . ..
Total deposits • • , . .
...
......
..
. - . .. .
. . . . ..
Deferred availability items . . . . .
Capital paid in . • , • , • .
Su:rpl us . . . . .
.All other lia.bi1i ties • ,
41
•
•
.
TOTAL LIABILITIES
•
•
Ratio of total reserves to deposit and
F. R. note liabilities combined • , ••
Contingent liability on bills purchased
for foreign correspondents • . • . .
w.
38,358
24,4l~5
82.5%
76.5%
38,587
35,845
'.-"-'.·.'·-
Jle1eased for publication Friday rooming, July 18, 1924; not earlier..
RESOURCES .AND llA:BlLI~IES OF THE FEDERAL RESERVE BANKS .AS AT CIDSE OF BUSINESS, JULY 16, 1924.
RESOURCES
(In thousands of dollars)
Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis ·Minn. Ka.ns. Cy.
Federal Reserve Earik of
211,683 620,153 192,492 216,651 41,390 126,722 264,659 61,589 57.372 56,500
Gold ~th Federal Reserve Agents
5,680
5,209 7.479 2,908 2,777 1,906 4,037 1.44o 1,238 2,145
Qol~ redemption fund ~th U.S.Treas ..
Gold held e:xc.lusivel~ against
217,363 625,362 199,911 219,559 44,167 128,628 268,696 63,029 58,610 58,645
F. R. notes
Gold settlement fund. "With F. R.l3oard
55.487 149,792 34_,455 79,283 33.556 12,151 112,776 30,424 5. 765 29,190
208,264 30,356 18,588 9,685 8,383 75,585 8,261 9,689 3,941
19,6~
···Gold a,ni. gold ~ertif. held by ba:nks
292,500 983,418 264,782 317,435 87,4o8 149,162 457,057101,714 74,o64 91,776
-~ta.l·BQld reserves
*
10,478
29,431 3,248 6,062 4,125 11,989 14,279 10,684 1,890 3.718
Jleserves other than gold
Total reserves
••reserve c-.a.sh
El1ls discounted:
Sec.~ by u. s. Govt. obligations
Other bills discounted
Total bills discounted
Dills bought in ope~_market
U.. S.. Government secrur~ ties:
Donds
!re~ury n-otes
Certificates of indebtedness
TOtal U. S. Govt. securities
All other earning assets
Total ~arning assets
uncollected items
J3an.k: premises
All other resources
5,850
4,654
10,504
3,584
25,417 17,475 11,763 12,415 2,778 10,043 3,887
692 1,075
8,616
26,854
15,274
8,856 33,258
30,897 15,277 13,776 15,219
4o,691 26,091 20,619 45,673 29,632 4o,94o 19,164 14,468 16,294
224
846 1,558
11,990 1,7~ 2,780
259 1,293 2,642
Dallas San Fran.. Total
25~853 236,104 2,111,173
1,495 1,343
37,657
237,447 2,148,830
27,837
574,339
34,328
437.381
299,612 3,16o,550
105,864
3.542
48 ,o4o 303,lsl+ 3,266,414
2,420 4,339
:57.312 ..
i
1,726 4,114
97,235
208,008
18,294
17,033
305,243
18,759 22,4o8
37,428
7,344 3,158
27,353
3,618
10,651
41,622
6,418
..
541
25,823
8,233
1,202
549 2,915
115,425 24,578 33,201
33.363 4,547 10,825
12
7,427
675 1,780
8,527 13,849 21,815 16,328 34.• 654
1,7"92 3,875 5,919- 4,730 13,066
20,752
344,857
100,965
34,597
428 65,370 10,319 25,151 28,4o9 22,838 47 t 732
149,990 29,674 46,941 5,125
1,250
202,671 58.765 70,34o 51,057 31,353 108,952 29,707 4o,465 46,261 48",941 73,298
1£2,952 58,955 62,493 53.762 26,813 81,391 32,908 13,374 37,584 22,764 42,479
15.552 1,110 9,129 2,528 2,728 8,264 2,116 2,806 4,595 1,91~ 2,880
14o 5,516 1,379 3,824 4·,180
228 1,913
248
8,898
277
337
466,574
1,191
3,030
904
34 4,426
331 47,296
o3 13,648
~
48,685
59,624
4,312
83
1,2~
810,495
655,099'
57,932
27,023
419,735 1,419,337 388,531 470,520 201,882 227,879 679,072 181,601 139,531 187,956 127,901 430,330 4,874,275
TOTAL RESOURCES
302,978 1,.012,849 268,030 323.497 91,533 161,151 471,336 112»398 75,9sl+ 95,494
16,415 1,423 4,784 2,774 3,921 8,792 4,332 1,416 2,643
4,053
E"V.4l45b
w.
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r~
...r-
Released for publit~ation Fr~day roorning
July 18, 1924;
not earlier.
REOOT:JRCES AND LI.A:BILI'TIES OF THE FEDERAL RESERVE 'BA.s."'O> AT CWSE OF BUSI!T.ESS, J"JLY
Federal Reserve Bank of
F. R. notes in actual circulation
Depos~ts:
Member bank - reserve account
Govenll!lent
Other deposits
Total deoosi ts
Deferred availability items
Oepi tal paid in
Surplus
~~1 other liabilities
TOTAL LIA][LITIES
Batio of total reserves to deposit
and F. R. note liabilities
" combined, per cent
'Boston
16,
1924.
LIABILITIES
{In thousands of dollars)
New York Phila.
Cleve. Rich. Atlanta Chicago St. kmis Minn. Kans. Cy. Dallas San Fran.
Total
197.,858
334,962 179,853 209,490 70,759 136,211 245,373 6o,430 67,487 64,202 4o,239 205,848 1,812 J 712
139,808
1,248
849,652 123,072 166,088
5,233 3,342 1,496
4o1 1,472
13,501
868,386 126,815 169,056
124,598 51,289 54.747
29 . 983 10,229 12,655
59.:J29 19,927 23,691
418
881
1,479
1}6
141,192
56,127
7~972
16,390
196
61,394 55,04o 302,4o8 70,741 44,552 74,096 48,034 150,318 2,085,203
1,324 1,816 9,890 2,170 1,481 1,971 1,592 2,951
34,514
422
24,288
169
143 1,908
213 5,177
363
383
62,887 56,999 314,206 73,333 46,396 76,450 49,839 158,446 2,144,005
49,819 19 '708 72,630 32,209 13,488 32,799 24,4oo 41.523 573,a67
5,844 4,578 15,155 5,064 3.378 4,392 4,134 8,021 111, 5
11,672 8,950 30,426 10,072 7,484 9,496 7,577 15,301 220,915
901 1,433 1,282
617 1,712 1,191
11,901
493 1,298
419,735 1,419,337 388,531 470,520 201,882 227,879 679,072 l81,6o1 139,531 187,956 127,901 430,330 4,874,275
89.4
'Contingent liability on bills
purchased for fo,rej..@l
correspondents
84.2
87.4
11,128
3,725
83.4
4,493
2,189
1,690
84.2
84.0
66.7
67.9
53.3
83.2
5,723
1,882
1,383
1,767
1,459
2,919
82.6
FEDERAL :aESERVE IDTES OUTSTANDING AND IN ACTUAL CIRaJLA!l'ION
F.
R. notes outstanding
F. R. notes held by banks
F. R. notes in actual circulation
217,570
19,712
636,24o 215,639 235,494 79,984 149,032 270,200 71,248 70,577 70,703 48,815 253,008 2,318,510
301,278 35.786 26,oo4 9,225 12,821 24,827 10,818 3,090 6,501 8,576 47,160 505,798
334,962 179,853 209,490 70,759 136,211 245,373 6o,4;o 67,487 64,202 4o,239 205,848 1,812,712
DISTBIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES
From 91 days
09-er
Within 15 days
16 to 30 days 31 to 6o days
61 to 90 days
to 6 months
::Bi 11 s di st'.oun ted
Bills bought in open market
Certificates of indebtedness
139,731
15,677
34,534
s, 749
49,766
8,149
43,178
2,331
37,580
2,522
98,161
6 months
454
2,804
Total
305,243
37,428
100,965
w.
-~---------~
Ieleased for
publi~ation
s:.. +J.48d
Friday morning, July 18, 1924; not earlier.
FEDERAL RESERVE AGEmS' ACOOUNTS AT CLOSE OF BUSINESS, JULY 16, 1924.
{~n
Federal Reserve Agent at
Boston
thousands of dollars)
New York Phila.
Cleve.
Eich,.
Atlanta Chicago St.Louis Minn.
Kans. Cy. Dallas San Fran.
Total
RE. SOURCES
83,400
Je(teral Reserve notes on hand.
Jeoeral Reserve notes outstanding 217,570
tbllateral security for Federal
Reserve mtes outstanding:
Gold and gold certificates
35.300
Gold redemption fund
13,383
163,000
Gold fund - F. R. Board
EUgi lble paper .l!mount required.
5,887
Excess amount held.
8.2ol
TOTAL
241,120 47,000 54,870 38,725 74,lLO 215,820 26,100 21,666 33,753 21,857 70,000 928,421
636#24<> 215,639 235,494 79,984 149,032 270,200 71,248 70,577 70,703 48,815 253,008 2,318,510
334,679
10,631
16,000 8,780
2,4oo
9,985 13,052
30,622 14,103 12,871 2,095 7,322 6,014 3,6o4 1,320 3;+4o. 2,727 16,489 113,690
351,000 162,389 195,000 39,295 117,000 258,645 48,000 43,000 53,360 12,500 219,615 1,662,804
23~.531
16,087 23,147 18,843 38,594 22,310 5,541
31,154 1,547 4,538 7,141 8,587 37,710
9,659 13,205 14,20J 22,957
9, 717 1, 731 3,461 3,208
16,904
6,957
207,337
123,952
526,741 1·,544.754 479,82.5 530,396 205,834 380,761 793.930 178,313 164,551 178,620 122,695 582,973 5,689,393
LIABILITIES
·
~
Net amount. of Federal Reserve mtes
.l ecei ved from Comptroller
of the Currency
300,970
877,36o 262,639 290,364 118,709 223,142 486,020 97,348 92,243 104,456 70,672 323,008 3,246,931
Collateral recei vecl from
Fecera1 reserve bank:
Gold
Eligible paper
620,153192,492 216,651 41,390126,722 264,659 61,589 57,372 56,500 25,858 236,104 2,111,173
47,241 24,694 23,381 45,735 }0,897 43,251 19,376 14,936 17,664 26,165 23,861 331,289
TOTAL
211,683
14,088
526,741 1,544,754 479,825 530,396 205,834 380,761 793,930 178,313 164,551 178,620 122,695 582,973 5,689,393
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@FedFRASER