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i' ; • • ., ... ""'- ~ ._- . r ...... • . STATEMENT FOR THE PRESS Released for publication Friday morning. July 6j not earlier . ~ ' ; ; $ __; £, .. St. 3590. Federal Reserv-e Board, July 5 , 1923 • CONDITION OF FEDERAL RESERVE BA~ Wednesday, July ~} being observed as a.le.gal holiday by all Federal reserve banks, the weekly ba.nj( statement made p"Ublic on July 5 shows the condition of the reserve banks as at close of business on Tu~sday, July 3, 1923. The statement shows an increase of $154,900,000 in discounted bills 8lld reductions. of $5,)00,000 in purchased acceptances ~hd of $4o,300,000 in Government securities. Deposit . liabilities increased by $37,700,000 and Federal reserve note circulation by $55,100,000. Cash reserves of the reserve banks show a.·reduction of $35,600,000 and the. reserve .ratio declined from 76.9.' tQ 74.4 per cent~ t Increased holdings of discounted bills are shown for all the reserve banas, except Eichmond and Chicago, the largest. increases being reported for the New YOrk, Cleveland and St. Louis banks. Increases in Federal reserve note circulation, which reflect the demand for currency in connection with the July 4 holiday, are shown for every Federal reserve ba~ · Of the total decline in cash reserves $23 1000t000 represents a reduction in gold reserves a.nd $12,.6oo,OOO - a. reduction in reserves other than gold. e!mailer gold reserves are reported by the New YOrk, Cleveland, Richmond, and. St. Louis banks, the reduction a.t the New York bank b~ing about $51,000 ,000~ Of the eight bank$ reporting increases in gold reserves the largest increase, amounting to $24,9Qo.ooo, is Shown by the Federal. Reserve Bank of Chicago. • Holdings of paper s~cured by Gqvernment obligations increased during the. week from $383,300,000 to $477.100 1000. Of the total held on July 3, $267,800.,000, o.'!· 56,1 per cent, were secured by Unit~d .stated. bonds, $138. 1 700,000, or 39.6 per cent, by Treasury notes, and $20,500,000 1 or .4.3 per cent, by Treasury certificates, . . compared with $243,000,000,' $121,500,000 and $l8,800,000:reported the .week before, . i A smmary of changes in the principal ase~ets and lia'bili ties of the .. reserve banks, as compared with a. week and a. year ago • follows: Increase or Decrease In millions of ~ollars since Total reserves • • . Gold reser_ves JUbe,27, 1923 July 5. 19?2 . .. .. . . .. .. .. .. - ea.rni'ng assets . • • • , . , . , , , Piscounted bill.s, total . • • . , . • • , Secured by U, S. Government obligations. Other bills di seoun ted • • , . , • , , , ~ot.al Purchased bills • • 5.3 United States securities, total . , Bonds and notes ·, • • , • . . . . U, S. Certificates of indebtedness To tal deposits • . , . , , Members' reserve deposits Government deposits . , . Other deposits , , • • . .. ' ... ' F, R. Bank notes in c~rcula.tion net liability • • , , • . w. ... . . ... Federal Reserve notes in circulation + 109.3 + l54. 9 + 93.6 + 6l.i ...... . ... ...... . + + 35.6 23.0 ... 4o. 3 l 33.0 67.0 + 19.0 + 431.0 + 291.7 + 139.3 + 45'1.~ 18.4 21.9 - ).26. 5 + 37.7 + 64.1 - 29.3 + 2.9 + 89.5 + 112.7 '22.0 ..., 1.2 - + 55.1 '"' 329.3 + 66.6 _,. • -*. 9;,.• t ' c Beleased for publication Friday morning, July 6, 1923; not earlier, RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED st. 3590a (In thousands of dollars) July 3, 1923 June 21, 1923 Gold and gold certificates . , , , . 326,442 326,334 Gold settlement fund- F, R. Board , , • 661,593 691,429 988,035 Total gold held by banks . • , • ' Gold with Federal Reserve Agents . , • • 2,040,992 1 Gold redemption fund, •• , • • • . • . 58,676 Total gold reserves • . • , • 3,087 I 703 Reserves other than gold • , • • . 79,200 Total reserves , • , , • • , . . 3,166,903 ' I Non-:.re serve cash • • • • • • • , • . 59.589 ~lls discounted: Sec. by u.s. Government obligations •• 477,053 Other bills discounted , • • , , , , • 452,786 Bills bought in open market • • • , • • 198,912 .. . ... Total bills on hand •• , U, S, bonds and notes , • . • . u. S, Certificates of indebtedness • Municipal warrants , , , , • , , , . Total earning assets • Bank premises • , , , • • • , , • .5% Redemption fund against F, R. Bank notes • • • • • . , •• Uncollected items • • . • • . . All other resources • TOTAL RESOURCES . .. ... .1,128, 751 . • 89,744 4,957 25 . . 1,223,477 0 I 52,330 July 5. 1922 317,04o 518,679 1,017, 763 2,035,011 57,970 3 ,110, 744 91 f 735 3,202,479 72,030 835.719 2,123,816 61,142 3,020,677 113,252 3,133,929 383,297 391.666 204,225 185,390 313,482 155,065 979,188 108,158 26,818 55 1,114,219 52,270 * 653,937 216,237 334,271 lt204,445 41,642 5,037.502 7,496 514,725 16,206 4,918,443 109,427 218,369 105,217 215,398 43,952 1,867,650 24,997 36,677 1,818,996 29,029 1,936,599 2,226,954 1,884, 702 2.194,323 1,518 562,198 16,487 1,548 525,165 19 t 41K) 68,146 430,161 20,496 • • 5,164,461 5,037.502 4,918.443 ' • 193 • • 649,037 •. , 12,932 . • 5, 164,461 193 583,917 12,394 L I AB I L I T I E S Capital paid in • • • , • • • . . • 109,584 Surplus • , • . . • . • • • • • . • . • 218,369 Deposits: Goverrment • • • • , • . • , • 14,657 Member bank- reserve account •• 1,931,762 27,832 Other deposits • • , , • • , • , Total deposits , .• , •. F. R. notes in actual circulation F. R. Bank notes in circulation nat liability • • • . . • Deferred availability items , • All other liabilities • , , •. . . 1,974,251 • , • 2,282,054 .. .. .. . TOTAT~ LIABILITIES , • , ... . . Bativ of total reserves t9 deposit and ~· F,E., note liabilities bombined, •• ··• 74.4% 76.9% Contingent liability on bills purchased for :foreign correspondents , • • . • • 33,613 33,539 *Not shown separately prior to January 1923. St. 3590b. Released for publication Friday morning, July 6, 1923; not earlier, RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS .AT CIDSE OF BUSINESS, JULY 3, 1923. (In thousands of dollars) RESOURCES Total Kans. Cy. Dallas San Fran. Boston New York Phil a. Cleve. Rich. .Atlanta Chicago St.Louis Minn* Federal Reserve Bank of 326,442 3,263 11,503 21,032 Gold and gold a~rtificates 17,355 156,355 26,230 15,023 9,449 6,176 47,273 4,111 3,167 32,543 661,593 6,261 42,826 22,281 20,851 60,980 202,643 20,976 72,362 30,204 24,577 125,089 Gold settlement fund - F. R. Board 933,035 To tal gold held by banks 78.335 359,498 47,206 87,385 39,653 30 '753 172,367 26,392 29,018 46,039 17,764 53.575 177,141 637,184169,280 203,159 27,761 102,523 332,829 48,564 37,045 ,28,570 12,563 209,373 2,04o,992 Gold with F. R. .Agents 58,676 3,926 1,130 3,352 7,203 1, 749 5,915 2,4o6 2,197 15,603 3,599 1,64o 4,456 Gold redemption fund 271,079 1,005,534 223,639 297,293 73,329 135,682 557.393 73,555 67,703 79,115 31,457 266,874 3,037,703 Total gold reserves 4,612 79,200 2,794 4o4 3,061 5,282 3,423 13,085 3,613 2,639 3,063 25,733 6,486 Reserves other than gold 274,142 1,031,267 230,175 300,906 75.963 14o,964 565,821 91 ,64o 68,107 82,176 36,069 269,668 3,166,903 To tal reserves 6,121 6,814 4,883 59,539 3,036 11,769 3.473 1,396 5,110 7,462 4,924 1,525 3,076 Non-reserve cash Bills discounted: Secured by U.S.Govt. obligations Other bills discounted Bills bought in open market Total bills on hand U. S. bonds and notes U. S. Certificates of indebtedness MUnicipal warrants Total earning assets Bank premises 21,264 33,943 19,166 74,373 3,643 49,567 26,083 6,925 43,896 36,968 39,593 37,190 47,127 25,103 2,253 8,144 44,144 111,638 67,929 52,259 135,167 219 1,079 9,953 1,341 449 1 4,138 10 122,040 69,270 52,489 146,384 8,859 2,617 2,607 8,715 78,205 4,434 50,636 27,332 19,310 97 ,278 17,367 14 15 304,651 114,674 12,422 719 64,835 97 153 ,4lf 57,193 68,696 49,879 1,431 301 239 465 189 197,137 62,586 4o ,101 299,824 4,706 121 TOTAL RES)URCES 45 69,009 42,922 67,319 1,000 1,471 4,955 65 100 5% Redemption fund against F.R. Bank notes Uncollected items .All other resources 21,573 7,260 23,601 34,206 22,285 29,804 26 5.979 61,758 29,545 53,431 1,251 13,377 13,843 21,585 86,891 32,216 15,061 39,354 487 132 1,846 593 792 2,650 31,285 12,071 46,oo6 1,779 26,461 477.053 50,467 452,786 22.615 198,91~ 99,543 1,128.751 9,186 89,744 4,957 25 47.785 108,729 1,223,477 1,946 2,585 52,3\50 28 193 20,689 2,637 39,227 3,912 649,037 12,932 433,482 1,509.996 4o7,883 504,275199,595 223,242 815,931 198,921 130,93?·197,712 Hl2,190 430,242 5,164,491 W. --------~--~-~-------_......._---~~------------"------ Released for pUblication Friday morning, July 6, 1923i not earlier. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JULY 3, Federal Reserve Bank of Capital paid in Surplus Boston New York Phil a. 8,066 16,312 L I AB I L I T I E S (In thousands of dollars) Cleve. Rich. Atlanta Chicago St.Louis 29,250 9,780 12,117 5,718 59,800 18,749 23,495 11,288 D~posits: 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 Ratio of total reserves to deposit and F. R•. note liabilities combined, per cent Contingent liability on bills purchased for foreign correspondents 4,419 15,162 8,942 30,398 4,951 9,665 1923~ St.3590c Minn. K.ans.Cy. Dallas San Fran. 4,586 9,488 3,565 7,473 4,195 7 775 7,496 15,263 J Total 109,584 218,369 6,772 382 389 423 789 847 1,212 495 1,147 989 1,173 14,657 730,923 114,092 167,268 6~638 56,143 281 752 74,714 46,811 80,336 46,127 145,967 1,931,764 16,220 247 661 459 1,579 525 2,328 427 263 4,050 27,832 779 753.915 114,94o 169,229 61,308 57.457 284,575 .76,522 48,085 82,327 47,379 151,190 1,974,251 546,814 211,259 234,373 78,916 .134,633 413,982 75,073 56,198 60,989 29,996 217,984 2,282,054 39 126,991 . ~ 294 127,324 221,837 J 890 ' 125 503 1,518 59,279 117,087 51,965 63,691 41,508 16,902 69,305 31,654 14,418 39.366 20,661 36,362 562,198 664 3,130 1,190 1,370 857 889 1,619 1,056 1,193 891 1,960 1,668 16,487 433,482 1,509,996 4o7,883 504,275 199.595 223,242 815,931 198,921 130,932 197,772 112,190 430,242 5,164,461 78.5 79·3 .- 11,627 70.6 2,892 74.6 3.631 54.2 81.0 1,748 1,379 4,674 C67 • 3 1,479 1,143 1,446 46 .. 6 1,207 73-0 2,387 74.4 33,613 FEDERAL RESERVE NOTES OUTSTANDING .AND IN ACTUAL CIRCULATION F. R. notes outstanding F. R. notes held by banks F. R. notes in actual circulation 236,178 14,,:341 221,837 751,720 248,688 255,947 8G,350 138,4o3 458,463 91,561 59,477 68,564 32,957 259,257 2,687,572 204,906 37,429 21,574 7,434 3.770 44,481 16,495 3,279 7.575 2,961 41,273 ·4o5";518 546,814 211,259 234,373 78,916 134,633 413,982 75,073 56,198 60,989 29,996 217,984 2,282,054 DISTRIBUTION OF BILLS, U. S.. CERTIFICATES OF INDEBTEDNESS .AND MUNICIPAL WABRANTS BY MATURITIES 15 days 653,563 76,892 Within Bills discounted Bills bought in open market U. S. Certificates mf indebtedness MUnicipal warrants w. 310 15 30 days 61,230 39.764 16 to 31 to 6o days 90,413 46,705 61 to 90 days ~~oG ~;n~~~ 79.730 44,726 31,429 4,122 544 2,936 10 Over 6 months 177 1,167 Total 929,839 198,912 4.957 25 Released for publication Friday morning, July 6, 1923; not earlier. F.EDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, JULY St. 3590d 3, 1923. (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 gold certificates Gold redemption fund Gold fund - F. R. Boaril Eligible paper .AmOiln.t required Excess amount held TOTAL 55.650 236,178 313,260 ~,200 31,720 25,530 30,14o 751,720 2 ,688 255.947 86,350 138,11()3 117,500 25 ,44o 9. 74o 31,963 17,369 57,000 458.463 91,568 59,477 68,564 32,957 259,257 35.300 13,841 128,000 2,4oo 235,531 7,000 8,805 30,653 16,391 14,354 1,966 5,123 371,000 145,889 185,000 25,795 95.000 11,880 13,052 2,684 1,993 2,210 371,644 34,000 22,000 26,360 59,037 15,336 114,536 . 79 ,4o8 47,788 58,589 35,880 155.777 2,573 63,519 7,414 16,276 11 ,1S5 834,512 2,687,57~ 6,461 320,429 2,102 15,700 118,202 4,000 193,673 1,602,361 75.634 4},004 22,432 39.994 20,394 49,884 59,473 18,754 6,635 13,436 25,4oO 48,777. 646,580 433.370 573.342 1,972,477 539,149 607,133 205,644 373,222 1,093,899 227,330 135.329 182,527 108,683 624,291 6,643,026 LI.AB!LlTIES Net amount of Federal Reserve notes received from Comptroller of the Currency Collateral received from Federal Reserve Bank; Gold Eligible paper 637,184 169,280 208,159 27,761 102,5.23 270,313 81,981 111,307 66,003 52,156 382,829 48,564 37,045 28,570 12,563 209,373 2,04o,992 135.107 61,758 29,067 53,430 45.794 98,661 1,079,950 TOTAL F. ---- ---~-----...;__ _ _ _ _ _ _ ____...L-_ _ ~
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