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STATE!.fr:NT FOR TEE PRESS
St. 4130
F~deral Reserve Board,
July 3, 1924.
Released for publication
Friday mornill?:, July 4;
not earlier.
CONDITION OF FEDERAI, RESERVE BANKS
The consolidated statement of condition of the Federal :reserva banks on July 2,
1924, made public by the Federal Reserve Board, sh~~ increases of lli32,300,000 in
earning assets and of $30,300,000 in FeCleral reserve note circulation aml decreases
of $34,900,000 in gold reserves and of $34,000,000 in deposit liabilities.
An increase of $31,400,000 in holdings of discounted bills is reported qy the
New York reserve bank and of $2,200,000 and $300,000, respectively, for. the San
Francisco and Philadelphia banks. The Fec.h~ral raserve bank of Clevalan<l reports a
decline of $4,000,000 in its holdings of discounted bills, Kansas City - a oecline of
$2,300,000, Atlanta- a decline of $2,000,000, and the six remaining banks- a total
decrease of $6,600,000. Holdings of paper secured. by u. s. Government obligations increased by $24,200,000 to Sl42,300,000. Of this amount, $95,200,000 was secured by
Liberty and other u. s. bonds, $46,200,000 by Treasury notes, and $1,000,000 b.Y certificates of indebtedness.
The New York bank reports an increase of ~11,600,000 and Boston an increase of
$1, 700,000, in holdin,:s of acceptMces purchased in open market, while the ten remainit;g banks show reductions agrr,regating $5,500,000. Holdinss of Treasury notes
were 4112,200,000 larger than a week ago, while those of certificates of indebtedness
and of bonds were lower by $5,100,000 and $1,400,000, respectively. The New York
reserve bank shows an increase of $4,800,000 in its hold.ings of Government securitiE:s.
Federal reserve note circulation increased by $30,300,000 during the week,
larger figures being shoV111for all Federal reserve banks except Cleveland 'llvhich reports
a decline of $1,200,000, and Chicago which reports a decline of $1,300,000. The
San Franciscc bank shows the largest increase - S8,.600,000 1 while Boston, New York,
Philadelphia and Richmond report increases ranging from $2,100,000 to $5,900,000.
Gold reserves declined. by $34,900,000 cluring the week, Reserves other than gold.
by $16,900,000, and Non-reserve cash qy $5,200,000.
A summary of changes in the principal assets and liabilities of the reserve
banks during the week and the year ending July 2, 1924, follows:
Increase or decrease during
·week
Total reserves • •
Gold reserves
..
. . . . ' .. . . .
Total earni-ng as sets • • •
Bills discounted, total . . • . • . . . •
· Secured by U. s. Government obligati~1s
Other bills discounted • • • • . • . • .
Bills bought :in open market
• • . • . • •
U. S. Government sedurities, total ••
Bonds • . . . . . . . . . . . . . . . . .
Treasury notes • . • . , • • , , . . , ,
Certificates of indebtedness • • • .
Federal reserve notes in circulation
Total deposits • • . , • . ,
Members 1 reserve cleposits
Govermnent deposits • . • .
Other deposits . • • • • • . .
....
..
$51,300,000
34,900,000
+ 32,300,000
+ 18,900,000
+ 24,200,000
5,300,000
+
7,SOO,OCO
Year
'1,,
364,900,000
-- 560,800,000
.,
-
334,700,000
226,100,000
- 146,100,000
+
5, 700,000
+
1,400,000
12,200,000
5,100,000
+ 340 ,goo, ooc
4,500,000
+ 25 6' 700' 000
+ gg, 6oo, oc.J
+ 30,300,000
407,S00,000
+
34,000,000
191200, OOQ
19,900,000
5,100,000
j
+ $52,700,000
+ 33,000,000
l
j
l
l
1
i
l
.,.,
•j
·.~
i
1
·~.,
~
·1
+ 1001200 1 QQQ
+ 84' 4CX.:.' oc 0
+ 17,500,000
1, 700,000.
Rele~ed for pub~ication Fridaf morning, July 4, 1924.
St~ 4130a
RESOURCES AND LIABILITIES
OF THE T\'JELVE FEDERAL RESERVE BANKS COMBINED
(In thousancls of dollars)
July 2, 1924 June 25. 1924 July 3, 1923
RESOURCES
Gold with Federal reserve agents • • . •
Gold red.empt ion fund. with U.S. Treasury •
Gold held exclusivel~inst F.R.notes
Gold settlement fund with F, R. Board •
Gold. and gold certificates held by banl{s
Total gold reserves .: • . . • • • . •
Reserves other than gold •
...
...
Total reserves
.
Non-reserve cash • •
Bills discounted:
Sec. by u. S. Government obligations •
• ,
Other bills discounted • •
..
..
Total bi.lls discounted
Bills bought in open market
U. s. Government securities:
B ond.s • • • •
• • . • • • •
Treasury notes • • • • .
. •
Certificates of indebtedness
...
Total U. s. Government ~rities
All other earning assets . .
..
Total earning assets
5% Redemption fund - F. R. Bank notes
Uncollected items • • • .
, .
Bank premises • • . •
. .
. . . , •
. • . •
All other resources .
TOTAL RESOURCES
...
2,040, 992
58,676
2,118,093
_..::,3_.;8' 491
2, 156,584
579 I 518
419,468
2,099,668
3,155,570
_115,833
3,087,703
79,200
3,271,403
54,006
3,166,903
118,117
232,014
477,053
452,786
52,811
350,131
45,034
929,839
198,912
21,113
320,802
93,573
22,542
308,552
_..:;_98_,, 700
25,618
64,126
4,957
435,488
1,250
429, 794
1,301
2,126,686
33.134
2,159,820
577,616
383,219
3,120,655
98,963
3,219,618
48,809
142,338
?26.663
369,001
858,550
617,800
57,787
25,158
661,593
326,442
59,589
-
94,701
_ _ 25
1,223,!.1-77
556,594
57,772
24,746
193
649,037
52,330
12,9 32
5, 164,461
4,827,722
L I ABI L I T I E S
F, R. notes in actual circulation •••
F. R. Bank notes in c ircul at ion - net ,
Deposits:
Member bank - reserve account . .
•
Government • • . .
Other deposits . .
Total deposits ••
Deferred availability items
Capital paid in • . . •
Surplus • . . . . . .
All other liabilities
...
.. .
TOTAL LIABILITIES • .
Ratio of total reserves to deposit and
F. R, note liabilities combined • • •
Contingent liability on bills purchased
for foreign correspondents • • • • •
c.
1,874,270
1,843,922
2,282,054
1,518
2,016,128
32,203
26,161
2,035,342
52,110
21,007
1,931, 762
14,657
27,832
2,074,492
2, 108,459
1,974, 251
535,024
.111 ,4o7
220,915
11,614
490,757
111,420
220,915
15,308
562,198
109,584
218,369
16,487
4,827,722
4, 790.781
5,164,461
.
d.
.61. 5/0
74.4%
38,897
33,613
eleased for publication Fridt;zy mom.ing, July 4, 1921+; not earlier.
RESOURCES .AND LIAJILITIES OF THE FEDERAL RESERVE BANKS AS AT CLOSE OF BUSINESS, JULY 2, 1924.
RESOURCES
(In thousands of d.ollars)
Boston New York Phil a.
Federal Reserve Bank of
Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy.
207,731
635,223
190,279
213,496
.38,908 123,441 279,7 25 61,626 57,607 57,901
Gold with Federal Reserve Agents
2,465 . 1,151 1,652
6,216
2,
789
2,324
2,562 6,173
3,702
914
Gold redemption fund with U.S.Treas.
Gold held exclusively against
638,012 193.981 214,410 41,232 126,003 285,898 64,093 58,758 59,553
213,949
F. R. notes
63,429
7,466 36, 2C9
92, c:.94 41,366 81,377 35,787 13,&21 124,964 37,237
Gold settlement fund witb F.R.Board
4,941
Gold and gold -certif. held by banks 18,972 173,445 33.935 18,925 8,980 7,907 56,042 7,669 9. 731
Total gold reserves
301,350
!Reserves other than gold
Total reserves
9!090
310,440
1
,
INon-rese:rve cash
!!ills d iscaunted~
Sec. by U. s. Govt. obligations
Other bills discounted
I
2,430
8,670
5,352
St. 4l}Ob.
Dallas San Fran. Total
28,811 231,936 2,126,686
l,o48
2,136
33,134
29,859 234,072 2,159,820
7, 723 30,935 577,616
8,641 34,031 383,219
903,751 269,284 314,712 85,999 147,731 466,904 108,999 75,955 100,703 46,229 c:.99,038 3,120,655
3,473
98,963
27,148
7,616 2,660 11,680 11,967 10,019. 1,305 1+,063 6, 748
3,194
930,899 272,.478 322,328 36,659 159,411 478,871 119,018 77, 26o 104,766 52,977 302,511 3,219,618
48,809
2,236
16,837
3,469
869
2,673
1,580
2,655 2,012
3,355 7,076 3,617
56,368 17,977 14,782 15,582
16,962 9.591 10.,506 36,904
2, 724 9.~5
28,837 33,869
4,380
717 1,820 1, 2;34
16,720 13,381 15,835 13,463
8,431
25,243
142,338
226,663
27.,568 25,288
1,937 3.355
31,561 43,451+
2,189
2,535
21,100 14,098 17,655
410
934 1.677
14,757
7,823
33,674
3,496
369,001
52,811
1, 780
627
7, 791
6, 736 13,103 20,570 14,964
1,411
3,495 5,584 4,376
10
31,~0t
12,4oo
21,113
320,802
93,573
21,120
Total bills discounted
Bills bought in openzmrket
u. S. Government securities:
Bonds
Treasury notes
Certificates of indebtedness
14,030
3,486
24,309
541
24,646
7.936
1,202
108,614
31,185
Total U. S. Govt. securities
All other earning assets
33,123
141,001
44,218
435,488
1,250
Total earning assets
Uncollected items
Bank premises
All Qther resources
50,639
59,613
4,312
81+
238,640 59,686 69,665 58,271 33,832 107 ,53f> 29,657 39,421 46,113 43,700 81., ,368
78,54o 28,617 12,190 37,501 20,612 36.999
151,561 58,628 5!'),447 50,993 24,099
2,863
1,912
1,110 9,129
2,728 8,264 2,006 2,789
4,595
2,528
15,.551
4,155
223
212
256
1,704
374
136
7,530
5,553
933 3,998
858,550
617,800
57,787
25,158
TOTAL RESOURCES
73,330
549
52,486
6f.o
4,426
44,201
12,922
2,915
1:$.,168
8,939
1,'}91
3,030
9o4
81
28,931 41,022
1,250
5,125
62 61,549
23,961
4,421
1
8,147 24,389
26,781
427,518 1,}61,018 393.705 462,436 202,719 225,129 6B0,663 183,051 138,062 196,581 125,435 431,385 4,827, 722
'
Released for publicaticn Friday mo~:.':.r.g, ,_7-.:;.ly 4, 1924; not earlier.
P.ESCYJRCES !.Jill LIABILITIES OF THE FEDERAL RESERVE B.ANKS AT CLOSE OF :"_,_:-:- ..::.ss, J1JLY 2, 1924.
St. 4130c
LIABILITIES
(In thousands of dollars)
Federal Reserve Bank of
F. R. notes in actual circulation
Deposits:
Member bank - reserve account
Government
Other deposits
Total deposits
Deferred availability items
Capital paid in
Surplus
i All other liabilities
TOTAL LIABILITIES
New York Phila.
Cleve. Rich. Atlanta Chicago St.Louis Minn. F-ans.Cy. Dallas San Fran. Total
347,169 191,262 212,718 74,136 138,511 255,256 62,183 68,490 64,474 41,226 213,816 1,874,270
F. R. notes outstanding
1- .F. R. notes held by banks
.r..
R. notes in actual circu1at ion
Bills discounted
Bills bought in open market
· Certificates Qf indebtedness
84,452
1,633
303
46,344 149,575 2,016,128
1,864
2,543
32,203
26,161
189
4,587
55, CXJ3 313,491
16,639 - 65,057
4,580 15, 155
3,950 30,426
1,446
1,24£
77.~3
23,154
5,o66
10,072
513
45,042 86,394
12,403 31,193
3,336
4,398
7,484
9,496
626
1,277
48,897 156,705 2,074,492
21,913 36,333
535,024
8,021
111,407
4,139
15,301
220,915
7,577
1, 683
11,614
1, 209
802,754 122,616 162,643 63,358
119,980 49-,292 49,797 46,811
5,849
29,978 10,208 12,656
59,929 19,927 23,831 11,672
1,200
400
931
893
180
364
427,518 1,361,018 393,705 462,436 202,719 225,129 6so,663 1s3,051 133,082 196,581 125,435 431,385 4,827,722
11,256
1
4),609
1,069
14o,526
57,422
7,971
16,390
Contingent liability en bills
purchased for foreign
correspondents
.
72,012
4,626
425
779,418 120,668 160,769
64o
6,104
1,687
261
1,234
17,232
81.0
I
62,408 53,941 303,652
825
8, 735
958
104
1,104
125
138,780
1,519
227
ltatio of total reserves to deposit
and F. R. note liabilities
ccmbined, per cent
I
1
Boston
205,029
213,718
13,689
86 .. 8
3,161
82.4
4,535
2,210
1,706
84.2
5,777
85-5
1,900
68.1
1,396
56.3
1, 783
1,473
81.6
2,946
.FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION
64o,454 213,827 236,438 30,602148,931 283,346 72,783 71,352 72,325
293,285 22,565 23,720
6,466 10,420 23,590 10,605
2,862
7,851
48,742 252,340 2,340,363
7,516 38,524
466,093
347,169 191,262 212,718
41,226 213,816 1,874,270
74,136 138,511 255,256
62,183
68,490
64,474
DISTRI:SUTICN OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES
Within 15 days
16 to 30 d"'vs
31 to 6o d<>vs
61 to 90 days From
days
Over 6 mcnths
......,
......,
to 6 91
months
200,413
34,814
50,114
38,166
45,014
475
27,657
9, 725
10,467
3,070
1,892
91,155
Total
369,001
52,811
93;573
Released for' pub:i.icat :..:n E'rida~v mo:r.::.i;."lg, J-;:;_ly 4,
1924;
s-r. 4l30fl.
not earlier.
FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSI:NESS, ~~LY ::, ::}24.
(In thousands of dollars)
Federal Reserve Agent at
Boston
New York
Phila.
Cleve.
Rich.
Atlanta Chicago St.Louis
Minn. Kans.Cy. Dallas San Fran.
Total
RESOURCES
Federal Reserve notes on hand
Federal Reserve notes outstanding
Collateral security for Federal
Reserve notes outstanding:
Gold and golcl certificates
Gold redemption fund
Gold fund - F. R. Board
Eligible paper .Amount required.
Excess amount held
TOTAL
88,300
218, 718
244,120 42,760 56,870 39,125 73,750 206,920 26,100 22,126 31,533 22,957 69,000 923,561
640,454 213,827 236,433 80,602 148,931 283,846 72,78& 71,352 72,325 48,742 252,340 2,340,363
35,300
9,431
163,000
334,604
12,556
2,400
9,985 13,052
238,531 14,000 8,780
30,692.14,890 11,716 1,613 4,041 6,080 3,143 1,555 4,541 2, 755 19,953 110,410
366,000 161,389 193,000 37,295 117,000 273,645 48,500 43,000 53,360 13,500 211,933 1,631,672
10,987
6,529
5,231 23,548 22,942 41,694 25,490 4,121 11,160 13,745 14,424 19,931 20,404
84,913
912 5,515 10,971 8,242 41,551 10,321
927 4,697 2,803 14,530
213,677
191,911
532,265 1,6o9,941 471,326 535,261 211,300 379,854 816,163 181,997 165,757 180,330 123,244 553,210 5, 796,198
LIABILITIES
Net
amount of Federal Reserve notes
received frcm Comptroller
of the Currency
307,018
Collateral received from
Federal reserve bank:
Gold
Eligible paper
TOJ'AL
207,731
17,516
884,574 256,537 293,308 119,727 222,681 490,766 98,888 93,478 103,858
71,699 321,340 3,263,924
635,223 190,279 213,496 38,908 123,441279,725 61,623 57,607 57,901 23,811 231,936 2,126,686
90,144 24,460 28,457 52,665 33,732 45,672 21,481 14,672 19,121 22,734 34,934 4o5,588
532,265 1,609,941 471,326 535,261 211,300 379,854 816,163 181,997 165,757 130,380 123,244 583,210 5, 796,198
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