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STATEMENT FOR THE PBESS
... , St. 3571
Federal ~s~rve Board,
June 21, 1923.
Released for publication
Friday morning, June 22,
not earlier.
CONDITION OF FEDERAL BESERVE .BANKS
Net liquidation of $26,200,000 of earning assets,accompanied· by reductions of
$35,000,000 in aggregate deposit liabilities and of $13,4oO,OOO in Federal reserve
note circulation, is shown in the Federal Reserve Board's weekly conaolidated bank
statement issued as at close of business on June 20, 1923. Cash reserves show a.
decline of $11,600,000, while the reserve ratio shows a. rise for the week from 77.0
to 77.6 per cent.
Holdings of discounted bills show an advance of $23,200,000, all the reserve
banks, except the New York bank, reporting larger holdings than on the preceding
Wednesday. St •. Louis and Chicago report the largest increasesfor the week, amounting
to $11,500,000 and $10,500,000 respectively, while New York shows a decrease in its
discount holdings of $4o ,200,000. Acceptances purchased in open market fell off
$12,900,000 and United States securities- $36,500,000.
Gold reserves show a decline for the week of $10,200,000. The inter-district
movement of gold, largely through the settlement fund, was mainly toward New York and
San Francisco, the reserve banks at these tm> cities reporting increases in their
gold reserves of $39,100,000 and $6,200,000 respectively. Smaller increases in gold
reserves, totaling $1,700,000, are shown for the Richmond, Atlanta and Dallas banks.
Chicago reports a decrease in its gold reserves of $17,100,000, Philadelphia - a.
decrease of $15,900,000. St. Louis- a decrease of $9,300,000. and the_four remaining
reserve banks - a combined decrease of $14,300,000~
Holdings of paper secured by Government obligations decreased during the week
from $359,500,000 to $3~,700,000 •. 6f the total held on June 20, $225,000,000, or
63.8 per eent, were secured by United States bonds, $110,2CO,OOO, or 31.2 per cent
by Treasury notes and $17,500,000, or 5 per cent, by Treasury certific~tes,compared
with $214.700,000, $129,500,000, and $15,300,000 shown the week before.
A summary of changes in the principal assets {md liabilities of the reserve
banks ,as compared with a week and a year ago, follows r ·
Increase
or
Decrease
. In millions of dollars
since
June 13 ,. 1923 June 21, 1922.
Total reserves • • •
Gold reserves • •
..
..
.
.
Total earning~ 'aSsets • •
• •..
Discounted bills, total • . . . . . . •
Secured by U4 S. Government obligations
Other bills discounted ••
Purchased bills • • • • • .
. ·•
+
+
.
United States securities,total
Bonds and notes . • . . . . .
U. S. Certificates of indebtedness
Total deposits • • • • • • ••
Members 1 reserve deposits
.Government deposits . •
Other deposits • • . • . .
Federal Reserve notes in circulation •
F. R.Farik notes in circulation net liability . • • . . . . . . .
+
..
.
+
11.6
10.2
+ 67~3
+ 109.1
26.2
23.2
6.8
30.0
4o.2
+ 309.5
+ 212.0
+ 97.5
12.9
+
84.2
36.5
16. 7
19.8
-
434.0
118.8
315.2
35.0
39.6
6.4
1.8
+
+
+
66.9
62.2
10.4.
5. 7
13.4
+
96.0
.1
-
66.2
Released for publication Friday morning, June 22, 1923, not earlier,
St. 357la
RESOURCES AND LIABILITI2S
OF THE Tll.lEL VE FEDERAL RESERVE
B.IU:T:~S
COMB I NED
(In thousands of dollars)
June 20, 19S2
RE S 0 URCE S
Gold and gold certificates • • . •
Gold settlement fund - F. R. Board
June 13, 19£,1
June bt ,_ 1922
350,252
6ss,o6.2_
346,522
678,665
315,614
531,290
1,038' 315
2,033,359
57,341
3,129,015
85,966
1,025,187
2,0571611
56,459
3,139,257
_5]_,357
Slt<j ,9o4
2,121,650
45,376
.
3,214,9S1
3,226,614
3,147,675
Non-reserve cash • •
Bills discounted:
Sec. by U.S. Government obligations
Other bills discounted • •
. .•
Bills bcught in open market
• •
6G,914
73,560
352, 733
37£' 363
205.716
359 ,4Gc
(a) 343,382
215 '615
140,713
230,855
121,467
936,G17
(a) 926,486
5lJ3,035
bonds and notes • • • • ,
U. S, Certificates of indebtedness ••
Municipal warrants • • • • •
Total earning as sets • • •
Bank premises • • • • • • .
5% Redemption fund against
F. R. Bank notes • • • •
Uncollected items . • .
All other resources • • • •
1os, 563
12,966
55
1,056.401
52,215
125,2Z:7
32,613
,_
55
(a~ 1 ,084, 643
227,374
325,160
51 t 719
1.095, 569
41,3bS
191
665.312
12,222_
191
6891539
14,170
7,565
530,959
15,672
TOTAL RESOURCES
L I AB I L I T I E S
Capital paid in .
Surplus • . . • , , •
. ..
Deposits:
Government • • , • .
Member bank - reserve account
Other deposits • . .
5,092,&13
(a)5, 140 1 736
4,891,506
109,422
213,369
109 ,3c1
21<3,369
105,.079
215,395
20,764
1,874,220
__5330
14,323
(a)1,913,&79
26,121
1, 612,010
1,921,314
2,222,352
(a) 1,956, 323
2,235,755
1,469
601,028
18,639
5,092,o13
1,410
601,040
18._45s
67.659
500,049
(a)5,140, 736
4, s91, soo
Total gold held by banks • . . .
Gold with Federal Reserve Agents •
Gold redemption fund ••• , • . • , •
Total gold reserves
Reserves other than gold , •
...
Total reserves ••
...
...
..-
..
Total bills on hand • • . •
u. s.
..
... . .
..
t
~
...
•
•
•
....
Total deposits
F. R. notes in actual circulation
F. R. Bank notes in circulation net liability , • , • . , • •
Deferred availability items
All other liabilities •••
...
"
...
..
TOTAL LIA3ILITIES
Ratio of total reserves to deposit and
F, R. note liabilities combined
Contingent liability on bills purchased
for foreign correspondents
c.
77.6%
77.0%
33,500
33,485
* Not shown separately prior to January 1923.
(a) Revised figures.
3 '019,96o
_E1,715
*
10,3&3
32,006
1, 854, 399
2,126,304
22,S9~
34,575
Released for pui)licaticn Friday morning, ,June 22, 1923; r::ot 3£_r:iar.
RESOURCES Alill LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE
Federal Reserve Bank of
Gold and gold certificates
Gold settlement fUnd - F.R.Board
Total gold held by banks
Gold with F. R. A:;ent s
Gold redemption fund
Total gold reserves
Reserves other than gold
'l'otal reserves
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
5% Redemption fund against
F. R. Bank notes
Uncollected items
All other resources
TOTAL RESOURCES
c.
Boston New York
177,746
1¢,092
53.442 267.031
71,534 444,&37
637.337
178,773
10,434
14,233
264,540 1,092,658
7.352
24,226
Phila.
25,734
18,020
43,754
166,011
6,365
Cleve.
17,126
72,501
&9,627
207,662
2,436
216,130 299,775
3.751 4,474
271,892 1,116,&54 219,911 304,249
12,490
c,o65
4,965
4,0c7
s-::. 357lb
BUSINESS, JUNE 20, 1923.
{In thousands of dollars)
OF
RESOURCES
Rich. Atlanta Chicago
9,326 6,106 45,819
28,754 24,909 104,723
33,050 31,015 153,542
30,020 102,373 3&3,005
5, 320
2,997
1 1 771
73,420 136,555 535,324
4.039 . 5.756 9.770
St.Louis Min.Yl.
Kans.Cy. Dallas San Fran. Total
3,905 3,142 3,230
11,0&3 20,938
350,25
11.1
1 1 4
4 12
8 168 4 41
65o o6
15,644 27,316 37,357
19,256 66,353 1,033,315
53,546 36,965 29,960
12,4o6 194,44& 2,033,359'
3 Ll~30~_;2=•~..::1=2=-3_-L3.a.-a7Ll:0:. .:.4_ ____.9~1...t..5_...J.3.t..:,5:::....5c::.2~_.L57w•w3~41
72,620 66,412 71,021
32,577 264,653 3,129,015
15.472
555 2,072
4.592
3.072
55.966
77,459 142,643 54o,094 3&,092
1,526
6,439
&, 5&9
5,476
66,970
73,593
2,159
3,553
37,169 267,725
4,032
3,214,981
6,917
68,914
20,232
34,142
13,025
105,331 44,}42 35,007 27,659
33,464 27,130 24,271 37,469
38.964 1~.&60 30.592
1.750
6,607 33,112 17,651 &,956 19,534
29,339 46,255 29,918 19,430 30,1&3
12,84o 41,471 7.359
129
3,264 25,958
2G,562 38,150
13,227 21,496
352.733
37&,365
205.716
72,402
177,509 91,332 59,370
45,336 125,o38 54,926
49,551
45,053
c5,6o4
936,817
24,846
2
65
1,779
9,185
lOS, 563
3,9¢1
128
76,511
4,434
10,423 17,367
10,053
19
66,375
9,756
322
1,341
198,320 105,773 99,943
63,219
12,393
719
8,830
133
1
9,122
2,033
49,020 136,993
2,617. 2,584
3,715
3,101
305
23,416
12,479
63,337 40,o97
993
1,471
74,762
4,955
65
~00
63,201
145,019 64,085 77,011 58,262 26,745 97,448 34,744 15,911 4o,620
100
1, 304
200
291
44o
479
553
120
1.755
1,002
428,623 1,451,993 398,656 494,416 208,823 227,910 800,442 192,762 129,163 199,215
12,966
46,532 94,789
1,946
1,056,401
2,553
52,215
26
21,663 4o,903
2,101
3.949
191
6c5,812
12,299
Palaasod for publication Friday morning, June 22, 1923; not earlier.
.
RESOURCES .AND LIABILITIES OF THE :FEDERAL RESERVE BANKS .AT CIDSE OF BUSINESS JUNE 20, 1923.
St.357lc
LIABILITIES
(In thousands of dollars)
C~eve.
Rich. .Atlanta Chicago St.Louis Minn. Kans.Cy • Dallas San Fran. Total
Boston New York Phila.
7,814 109,422
4,198
29,206
9,780 12,079 5,725 4,419 15,033 4,951
8,066
3.566 4,585
218,369
7,496
15,263
11,288
8,942
9,488
18,749
23,495
59,800
30,398
7,473
1.6,312
9~665
Federal Reserve Bank of
Capital paid in
Surplus
Deposits:
11,365
341
Government
700,560
129,099
Member barik - reserve account
15,122
Other deposits
377
129,817 727,047
Total deposits
F. R. notes in actual circulation 214,194 547,527
F. R. Bank notes in cir·culation net liability
59,379 114,597
Deferred availability items
860
3,816
All other liabilities
428,628 1,481,993
TOTAL LIABILITIES
Batie of total reserves to deposit
and F. R. note liabilities
87.6
79.0
c.ombined, per cent
Contingent liability on bills
purchased for foreign
correspondents
14,088
20,764
468
417
2,4o9
296
496
531
1,925
6oo
817
1,099
111,368 161,628 58,323 58,292 271 J 169 69,4o3 46,139 79,754 46,384 142,101 l ,874.220
184 1.390
1,429
261 4,147
26,330
634 1,065
679
707
335
112,647 163,874 61,067 58,944 272,855 70,527 47,269 81,918 47,176 148,173 1,921,314
201,381 225,330 77,128 134,oo4 4o0,752 73,702 54,776 6o .371 27,831 205,356 2,222,352
1,489
756
219
514
54,696 67,977 52,669 20,619 78,645 32,785 14,892 41,637 24,705 38,427 601,02S
18,839
1,4o3 1,661
946
982
2,003 1;132 1,187
997
2,049 1,803
398,656 494,416 208,823 227,910 800,442 192,762 129,163 199,215 113,969 416,836 5,092,813
70.0
78.2
2,518
56.1
1,785
73.9
1,.200
81.4
61.1
4,072
1,288
FEDERAL RESERVE NOTES OUTSTANDING AND IN .ACTUAL
F. R. notes outstanding
232~810
745,544 241,419 253,249 84,869 139,413 451,785 92.452
F. R. notes held by banks
18,616 198,017 4o,038 27,919, 7,741
5,4o9 51,033 18,750
F. R. notes in actual circulation 214,194 547,527 201,381 225,330 77,128 134,oo4 400,752 73.702
DISTRIBUTION OF :BILLS, U. S. CERTIFICATES OF INDEBTEDNESS
Within 15 days 16 to 30 days
31 to 60 days 61 to 90 days
Bills discounted
489,821
Bills bought in open market
79,16}
10 ,088
U. S. Certificates of indebtedness
MUnicipal warrants
~
http://fraser.stlouisfed.org/
W.
Federal Reserve Bank of St. Louis
55,058
53,611
15
85,413
41,260
53,297
25,24o
186
65.6
995
51.9
1,259
49.6
1,054
75.7
2,079
77.6
33.500
CIRCULATION
58,981 68,954 30,875 251,151 2,651,502
4,205 8,583
3,044 45,795
429,150
54,776 60,371 27,831 205,356 2,222,352
AND MUNICIPAL WARRANTS BY .MATURITIES
From 91 days
to 6 months
Over 6 months
Total
47,198
314
731,101
6,442
205,716
2 ,212
480
12.966
~
St.357ld
Releaaed for publication Friday morning, June 22, 1923; not earlier.
FEDERAL RESERVE AGENTS' ACCOUNTS AT ClOSE OF BUSINESS, JUNE 20, 1923.
(In thousands of dollars)
Federal Reserve Agent at
Boston New York Phila.
Federal Reserve notes on hand
. 85,250
Federal Reserve notes outstanding232,810
Collateral security for Federal
Reserve notes outstanding:
Gold and gold certificates
34.300
Gold redemption fund
16,473
128,000
Gold fw1d - F. R. Board
Eligible paperJiJTJOU."l t required
54,037
Excess amount held
18,365
TOTAL
Cleve.
318,34o 43,600 31,220
745,544 241,419 253,249
Bi.ch.
Atlanta
80,480
84~869 139,413
27,810
7,000
8,805
235,531
30,856 14,122 13,857 4,225
371,000144,889 185,000 25,795
2)4oo
6,473
94,000
108,157
43.702
36.54o
12,197
75,4o8 45,587
2,902 38,94o
54,849
10,871
Chicago St. Louis
112,700 25,440
451.785 92,452
11,360
371,645
Minn. Kans. Cy. Dallas
11,157
58,981
11,880 13,052
1,916
2,966
22,000
39,000
68,780 38,606 22,013
5,942
57,045 16,282
San Fran.
Total
842,054
32,763 19,694 53,600
68,954 30,875 251,151 2,651,502
1,6oo
28,360
319,429
6,461
1,945 18,295 124,088
4,000 176,153 1,589,842
38,994 18,469
10,845 26,470
56,703
27 J 749
618,143
271,310
569,2351,853,130 529,340 576,658 208,419 371,503 1,073,315 226,626135,061181,516 107,914 583,6516,416,368
L I A B I L .I T I E S
Net runount of Federal Reserve
notes received from Comptroller of the Currency
318,060 1,063,334 235,019 234,469 112,679 219,893
564,485 117,892
Collateral received from
Federal Reserve Bank:
Gold
Eligi blc paper
178,773
72,4o2
383,005
125,825
TOTAL
637.387 166,011 207,662
151,859 78,310 84,527
30,020 102,873
65,720 48,737
70,138 191,717
53,846 36,968
54,838 27.955
12.4o6 194,448 2,033.359
44,939 84,452 889,453
569,2351,853,130 529.34o 576,658 208,419 371,5031,073,315 226,626 135,061181,516 107,914 533,651 6,416,368
w.
29,960
49,839
50,569 304,751 3.493.556
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@FedFRASER