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STATEMENT FOR THE PRESS Released f o r p u b l i c a t i o n Friday morning, July 24; not earlier* St. 4596 Federal Reserve Board, July 23, 1925. CONDITION OF FEDERAL RESERVE BANKS The consolidated statement of condition of the Federal reserve banks on July 22, made public by the Federal Reserve Board, shows a decrease of $2?,600,000 in t o t a l earning a s s e t s , of $21,500,000 in Federal reserve note c i r c u l a t i o n , and of $500,000 i n cash r e s e r v e s . Discount holdings went down $12,200,000 during the week, holdings of acceptances purchased in open market declined $6,£00,000, and Government s e c u r i t i e s - $9,200,000. The Federal Reserve Bank of Boston shows a reduction of $11,100,000 in d i s count holdings, Chicago - a decrease of $8,300,000, and Philadelphia of $4,200,000 The Richmond bank reports an increase in discounts of $4,100,000, and the Atlanta end San Francisco banks report an increase of $2,300,000 each. Relatively sne.ll changes, in holdings of discounted, b i l l s are shown by the remaining banks. The New York bank reports a decrease of $3,500,000 i n holdings of acceptances purchased i n open market, Cleveland of $2,800,000, and Boston of $2,300,000, while the Minneapolis bank reports an increase of $3,300,000 and San Francisco an increase of $2,100,000. The System's holdings of Treasury notes went dcwn $11,100,000, while holdings of Treasury c e r t i f i c a t e s went up $1,800,000 and of U. S. bonds $100,000. Reductions in Federal reserve note c i r c u l a t i o n are reported by a l l Federal reserve banks except New York and Dallas, which show a t o t a l increase of $1,000,000. The principal decreases i n Federal reserve note c i r c u l a t i o n were: Philadelphia $7,400,000, Boston $4,000,000, Cleveland $3,200,000, and San Franc i s c o , $3,000,000. A summary of changes i n the 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 the reserve banks during the week and the year ending July 22, 3.925, f o l l o w s : Increase or decrease Week Total reserves Gold reserves -$500,000 + 200,000 Total earning a s s e t s . . . . B i l l s discounted, t o t a l . . . Secured by U.S. Govt, o b l i g a t i o n s Other b i l l s discounted Year - $338,700,000 - 376,700,000 -28,600,000 -12,200,000 - 7,500,000 - 4,700,000 + + + + 213,900,000 151,700,000 144,800,000 6,900,000 . . . . . . - 6,800,000 + 193,000,000 U. S. Government s e c u r i t i e s , t o t a l . . . Bonds Treasury notes C e r t i f i c a t e s of indebtedness . . . . . - 9,200,000 100,000 -11,100,000 + 1,800,000 - 141,900,000 + 48,600,000 - 122,200,000 68,300,000 Federal Reserve notes i n c i r c u l a t i o n . . . -21,800,000 - 177,^00,000 Total d e p o s i t s Members1 reserve d e p o s i t s Government deposits Other d e p o s i t s -32,000,000 -34,900,000 3,100,000 200,000 + + - 54,900,000 86,100,000 26,100,000 5,100,000 B i l l s bought i n open market . . during . . Released for p u b l i c a t i o n Friday morning, July 24, 1925J not e a r l i e r . st. 4596a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands cf d o l l a r s ) July 22, 1925 July 15. 1925 July 23,1924 RESOURCES Gold with Federal reserve agents . . . . 1,456,802 1,472,241 2,100,426 Gold redemption fund with U.8,Treasury . 52,473 5l»334 36,684 Gold held e x c l u s i v e l y against F.R.notes 1,509,275 1>5?3,625 2,137,110 Gold settlement fund with F. R. Board . 688,755 675,710 584,488 Gold and gold c e r t i f i c a t e s held by banks 592.790 591 >566 445,929 Total gold reserves Reserves other than gold 2,790,850 143,996 2,750.601 144,769 3,167,527 106,015 2,934,846 2,935,370 56,932 56,209 3,273,542 55,456 230,032 212,490 442,522 237,540 217,199 454,739 35,271 205,561 290,832 224,525 231,329 31,539 68,905 231,290 35,109 68,777 242,365 33,335 20,303 353,531 103,377 335,304 344,477 477,211 10,500 1,850 1,014,701 10,500 2,250 1,043,295 1,259 800,82? . . . . . . . . 644,018 60,397 21,591 746,725 60,383 21,425 560,613 55,371 27,66$ TOTAL RESOURCES . . . . . . . 4,732,485 4,863,407 4,776,46k 1,605,214 1,626,971 1,782,626 2,l60,748 13,963 25,008 2,195,601 10,907 25,19^ 2,074,636 40,118 30,09% 2,199,719 2,231,702 2,144,851 660,047 115,601 217,537 11,249 504,600 111,40^ 220,915 12,06g 4,863,407 4,776,46$ Total reserves . . . Non-reserve cash . . . . B i l l s discounted: Sec. by U.S. Government obligations . Other b i l l s discounted . Total b i l l s discounted . . . . . B i l l s bought in open market . . . . U. 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 indebtedness Total U.S. Government s e c u r i t i e s Foreign loans on gold All other earning a s s e t s Total earning a s s e t s Uncollected items Bank premises All other resources . . L I A B I L I T I E S F. R. notes i n actual c i r c u l a t i o n . . . Deposit*: Member bank - reserve account . . . . 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 items Capital paid in Surplus All other l i a b i l i t i e s TOTAL LIABILITIES 582,450 115,715 217,837 11,550 4,732,485 • Ratio of t o t a l reserves to deposit and F. R. note l i a b i l i t i e s combined . . . 77*1$ 76.1$ 83-3# Contingent l i a b i l i t y on b i l l s purchased for f o r e i g n correspondents . . . . . . 32,165 35,576 38,334 r RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 22, 1925. (in thousands of d o l l a r s ) St. 4596b RESOURCES Boston New York P h i l a . CIeve. Rich. * Gold held e x c l u s i v e l y against E^z-Jl2i2* 159,753 Total %old reserves 249,917 Reserves other than gold 13,265 Total re s er v e s 263,182 Non-reserve cash 5,476 B i l l s d iscounted' Secured tyr U.S.Govt, o b l i g a t i o n s 9,976 Other b i l l s discounted 14,027 Total b i l l s discounted B i l l s bought i n open market U. 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 indebtedness Total U.S. Gov't, s e c u r i t i e s Foreign loans on gold A l l other earning a s s e t s Total earning a s s e t s Uncollected items Bank premises A l l other resources TOTAL RESOURCES 24,003 33,903 558 1,086 6,135 t,m 777 66,462 57,590 4,190 * 89 w 366,604 l 4 g , 2 1 0 184,646 5 Atlanta Chicago St.Louis : % * ; 38,363 113,204 138,038 § Minn. Kans.Cy. Dallas San Fran. £ 23,576 Total *•&« « • & ^ ° ? * > < % $ * 54,946 54,811 24,754 202,370 1,509,275 % H 942,518 219,448 300,653 40,217 5,835 7,4l6 76,221 132,472 355,072 4,669 13,224 18,658 40,858 20,518 71,973 1,846 97,574 4,146 44,441 259,703 2,790.850 8,621 982,735 225,286 308,069 80,890 145,696 373,730 3,07 5 3,688 8,004 61,376 73>819 101,720 1,448 2,172 53,062 265,281 2,934,846 19,327 1,495 3,253 89,295 31,595 23,164 19,182 30,433 16,419 19,135 32,374 2,164 22,244 24,388 23,724 7,467 13,882 2,145 4,674 120,890 42,346 33,916 11,888 46,852 18,218 51,509 8,210 24,408 15,644 48,112 26,063 21,349 10,244 610 4,912 54,542 17,207 6,315 57 65,769 17,874 2,835 976 1,850 8,746 11,571 10,397 1,486 4,019 64 1,678 11,297 1,428 20,266 19,118 1,776 30,714 1,124 5,569 557 14,403 430 74,934 96,908 59,245 64,541 1,158 7,573 216 358 65,845 54,971 2,446 668 223,410 148,616 16,997 6,187 3,798 2,264 2,932 56,932 1,011 5,532 1,914 7,567 18,940 21,270 230,032 212,490 6,819 19,045 6,543 15,096 9,481 12,599 40,210 19,699 442,522 224,525 3,107 27,227 544 8,150 7,751 122 9,572 20,293 2,830 7,360 20;945 387 2,460 36,234 5,048 68,905 231,290 35,109 4l,lfio 1,449 30,878 483 16,029 346 32,695 420 28,692 43,742 368 735 335,304 10,500 1,850 54,885 116,784 30,207 82,810 2,780 8,099 2,505 1,289 62,954 33,273 4,564 343 42,239 14,545 3,049 3,351 54,754 51,140 104,386 1,014,701 38,289 22,134 37,797 644,018 4,419 1,833 3,289 60,397 637 1,539 4,409 21,591 396,989 1,397,272 362,334 480,702 207,895 239,761 590,716 166,308 138,451 201,991 131,972 4 i 8 , o g 4 4,732,485 s t . 4596c RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 22, 1925( i n thousands of d o l l a r s ) Boston New York P h i l a . CIeve. Rich. A t l a n t a Chicago S t . L o u i s Minn. Rans.Cy. Dallas San Fran. Total L I A B I L I T I E S 171,35S 330,705 144,885 203,029 68,759 131,602 150,645 43,029 62,291 62,820 38,037 198,054 1,605,214 F. E. n o t e s i n a c t u a l c i r c u l a t i o n Deposits: 142,318 828,216 132,184 182,631 67,102 67,939 319,112 73,271 50,645 87,662 56,509 153,159 2 , 1 6 0 , 7 4 8 Member bank - r e s e r v e account 620 412 1,149 1,054 962 944 3,918 457 721 883 1,894 13,963 Government 2 2 4,706 25,008 148 240 14,062 417 881 1,374 263 136 1,556 1,111 Other d e p o s i t s j Total d e p o s i t s 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 All other l i a b i l i t i e s TOTAL LIABILITIES Beserve r a t i o (per c e n t ) Contingent l i a b i l i t y on b i l l s purchased f o r f o r e i g n correspondents F.R. n o t e s on hand ( n o t e s rec*d from . F.R. Agent l e s s n o t e s i n c i r c u l a t i o n ) 143,502 846,196 133,058 184,233 56,797 127,069 52,806 57,115 8,486 31,675 11,216 1 2,970 16,382 58,749 20,059 22,462 464 2,878 310 893 396,989 1,397,272 362,334 480,702 79.6 81.1 83.6 83,5 68,133 52,500 5,984 11,701 818 207,895 59-1 69,969 23,916 4,587 8,950 735 239,761 72.3 3,483 1,725 1,335 2,409 8,403 22,736 124,199 321,080 75,531 51,962 89,998 71,476 32,063 12,476 35,371 15,583 5,116 3,230 4,361 30,426 9,971 7,497 8, 464 1,506 598 995 590,716 166,308 138,451 201,991 79.2 51.8 64.6 66.6 57,572 158,485 2,199,719 23,751 37,108 582,*50 4,320 8,187 115,715 7,592 15,071 217,837 700 1,189 11,550 131,972 4ig,094 4,732,485 74.4 77.1 55.5 4,492 1,497 1,074 1,302 1,139 2,279 32,165 40,607 23,717 13,026 16,780 10,505 4,701 5,213 7,872 5,240 42,132 316,728 3,027 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F . R . n o t e s r e c ' d from Comptroller F . R . n o t e s held by F.E. Agent 284,244 90,150 765,804 222,492 275,496 105,279 211,521 428,907 * 72,690 85,635 99,105 64,599 310,900 37,000 48,750 23,494 63,139 267,757 24,960 18,131 28,413 21,322 F . E . n o t e s issued to F.E. bank 194,094 454,904 185,492 226,746 8 1 , 7 8 5 148,382 161,150 Collateral held as security f o r F«E.notes issued t o F.R.Barik: Gold and gold c e r t i f i c a t e s Gold redemption fund Gold fund - F. E. Board E l i g i b l e paper 104,000 57,906 186,698 5,600 8,780 21,160 28,258 10,476 10,703 3,766 141,000 122,889 160,000 10,295 132,239 47,122 64,952 57,165 Total c o l l a t e r a l 209,313 488,195 186,087 244,435 92,386 150,593 33,350 14,057 Within 15 days B i l l s discounted B i l l s bought in open market C e r t i f i c a t e s of indebtedness 315,279 86,910 7,386 9,000 7,581 4,628 94,000 130,645 40,012 73,953 47,730 67,504 70,692 310,286 2,926,058 70,100 1,004,116 43,277 240,186 1 , 9 2 1 , 9 4 2 17,136 307,151 3,175 14,594 102,653 1,2*5 3,028 2,500 185,309 1,046,998 8,000 49,360 31,551 25,707 a,497 22,079 59,166 633,349 53,171 78,901 73,885 44,890 259,069 2,090,151 12,375 13,052 1,142 39,000 209,226 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS 16 t o 30 days 31 t o 60 days 6 l t o 90 days 24,911 53,058 41,832 38,386 16,325 3,022 46,117 29,833 Over 6 months ^1 21,862 8,607 2,875 252 5,501 Total 442,522 224,525 35,109
@FedFRASER