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S1ATEMENT .FOR THE PRESS
St. 4120
Federal Reserve Board,
J1.me 26, 1924.
ReleaSed for publication
Friday __ -moming, June 27;
not earlier,
CONDITION OF .F.EDEfuU, RESERVE BANKS
The consolidated statement of condition of the Federal reserve banks on June 25,
1921+, made public by the Federal Reserve Board, shows a further decline of
$9,600,000 in earning assets. Holdings of discounted bills decreased by $1,200,000
and those of acceptances purchaSed in open market - by $12,300,000, while Governrmnt
security holdings increased by $3,900,000. Federal reserve note circulation declined
by $7,900,000, deposit liabilities by $27,000,000, and cash reserves by $700,000.
An increase of $5,500,000 in holdings of discounted bills is reported qy tAe
New York reserve bank, of $4,400,000 b,y the Richmond bank, and of $2,600,000 b.Y
Boston and Philadelphia combined; tie Chicago and Kansas City banks show reductions
of $4,100,000 each, and Cleveland, St. Louis and San Francisco an aggregate decrease
of $4,200,000. Holdings of pa,per sec'!lred by u. 5, Government obl igat iQ'ls increased by
$3,700,000 to $118,100,000, Of this ~nount, $97,700,000 was secured by Liberty and
other U. s. bonct.s, $19, 6oo ,000 'by TreaSury notes, and $800,000 by certificates of
indebtedness.
Smaller hold-ings of acceptances purchased in open market are shown for all
reserve banks except Dallas, which shows an increase of $1,700,000. Of the total r.e•
duction of $14,ooo,ooo for the eleven other banks, $5,700,000 was reported ey New
York. A net increase of $3,900,000 is shown in Government security holdings, a re•
duction of $5,000,000 in Treasury certificates being more than offset by increases of
$S,300a000 and $600,000, respectively. in Treas~ notes and U. S, bonds.
'
All Federal reserve banks report reductions in Federal reserve note circulation,
except Cleveland and Philadelphia, the former showing an increase of $2,900,000. The
New York bank shows a. decline of $2,700,000, Chicago a d-ecline of $2,400,000, and
Atlanta. a -decline of $1,000,000, while the rema.ining banks report decreases of leas
than $1,000,000 each. Gold reserves declined. by $2,100,000 during U~e week, Reserves
other than gold increased by $1,300,000, and Non-reserve cash declined. by $2,600,000.
A summary of changes in the principal assets and liabilities of the reserve
banks during the week and the year ending June 25. 1924, follows:
Increase or decrease d.uring
We§!;
Total reserves • • • • • • .
Gold reserves • • • ,
..
. . ...- 2,100,000
$700,000
Total earning assets • • . . • • , . . .
Bills discounted, total · • • • • • • . . ,
Secured by u. s. Government obligations
Other bills discounted • • • • • • .• ,
s.
+ $68,900,000
+ 44,800,000
9,600,000
1, 200,000
3. 700,000
4,900,000
- 2SS, 000,000
- 424,800,000
- 265,200,000
159 , 6oo, ooo
'
.. 12,300,000
Government securities, total . • . •
+ 3.900,000
+
6oo,ooo
+ 8,300,000
- 159 t 200,000
+ 294,soo,ooo
Bills bought in open market
U.
+
-
Year
. ....
'
Bond.s • • • • • • • • . . • • • . • • •
Treasury notes • • • , • • • • • • •
Certificates of indebtedness • . • • • •
.Fed.eral reserve notes in circulation •
Total deposits • • • . . • • . . • •
Members 1 reserve dep_osits , , • •
Government deposits • • • • . • , •
Other deposits • • • • • . .
. . ..
.
2, 700,000
- 5,000,000
+ 225,600,000
+ 71,900,000
- 7,900,000
- 383,000,000
-27 t 000,000
+ 171,900,000
+42,500,000
- 1,000,000
+ 167,700,000
+ 8.200,000
4,000,000
-6s, 500,000
c.
/
Released for publication Friday morning, June 27, 1924.
RESOURCES AND LIABILITIES
OE THE TWELVE EEDERAL RESERVE BANKS COMBINED
(In thousands df dollars)
J"tme ?5.~ June 18 1 ,!924
St. 4120a
Jyne 2],
192)
RESOURCES
Gold with Federal reserve agents • • • •
Gold redemption fund with Uo So Treasury
2,035,011
57,9JO
2,092,981
691,423
326,334
2,118,093
,
38,491
2,118,962
42,249
held exclusively against .F.R.notes
Gblcl s~ttlement fund with E. Ro Board •
Gald and gold certificates held by banks
2,156,584
579,518
419,468
2,161, 211
574,150
422, 28~
Total goJ,d reserves • • • • .
Reo~rves other than gold , ,
3,155,570
115,833
3,157,641
114,503
3,271,403
3. 272,144
56,641
91,735
3,002,479
72,030
118,117
232,014
350,131
45,034
114,439
236,941
383.297
391,666
351,380
57.322
774.963
204,225
22,542
308,552
98,700
429,794
1,301
826,?6o
21,969
300,216
103,717
?5,220
82,938
26,818
4?5,902
1,301
134,976
55
1,114,219
li~old.
Total r.eserves • • •
......
.. .. . ...
fl
•
•
•
Non-reserve c·ash • • • • • • • • . • • •
Bills discounted:
Sec. by u.s. Government obligations
Other bills discounted • . • •
...
..
Tota1 bills discounted •
Bills bought in open market . • • • • • •
U. S. Govenrument securities:
Bonds
• • • • • • .. . • .
• •
Treasury notes • • • • . • • • , • • •
Certificates of indebtedness • • • • •
Total U. S. Government securities
All other earning assets . . . . . . , .
Total earning assets • • • , • .
5% Redemption fund - F. R, Bank notes •
r,Jncollected items • • • . . . . . . . •
Bank premises o • • • • • • • • • • • •
All other resources • o • • • • • • • •
54,oo6
--
_
3. 110,744
556,594
57.772
24.746
665,234
57,374
25,151
193
583,917
52,270
12,394
4, 790,781
4,932,449
5,037,502
F. R. notes in actual circulation • • •
F. Ro Bank notes in circulation - net •
1,843,922
1,851,842
Deposits:
Member bank • reserve account • • ~ •
Government • • • • • • . • • • • • •
Other deposits • o • • • • •
2,226,954
1, 548
2,035.342
52,110
2,103,815
TOTAL RESOURCES ••
•
0
0
LIABILITIES
....
Total deposits
• • • •
o
•
•
•
•
Deferred availability items • • • • • •
~apital paid in o • • • • • • •
:Ju.rplus • • • • • • . • . . . . . . • . .
Ul other liabilities • • • • . • • • •
TOTAL LIABILITIES
~tio
o
•
•
•
of total reserves to deposit and
• o
F. R. note 1 iabilit iea combined
•
•.
Contingent liability en bills purchased
for foreign correspondents • o • • • •
b.
21·.oo1
2~,013
1,867, 650
43,952
24,997
2,108,459
2,135,4 76
1, 936.599
~90.757
111,420
220,915
15,308
r:f.J 1t 744
111,472
220,915
---.1_5, 000
5?5,165
103,427
218,369
19,44<>
4, 790.781
4, 932,449
5,037,502
38,903
33.539
9,648
82,8~
38,897
St. 4120b.
, Jleledecl tor pablication J'r.id.q mornq, ·.rime 27, 19~; _not· e.arlier•
_
R§OORCJS ~ LIA:BI.LITI:d OJ" THE .FEDERAL RESERVE B.ANXS AI$ AT CIDSE OF BUSINESS, JUNE 25, 1924~
RESOURCES
{In thonsanda of dollars)
BoatQl New York . :Phila.
Cleve. · Rich. Atlanta Chicago St.Lou.ia Minn. Xans.Cy. Dallas San Fran. Total
federal Beaerve Bank of
2ll,CS3
635,262
187,836
210,859
)8,272 124,697 279, 7S2 62,093 57,537 56,488 29,278 224,9()6 2,118,033 ·
Gold with Federal Reserve Agents
2,837
38,491
3.719
4,074
11,166
1,288
4,344 2,066 2,177 2,561 1,520 1,500 1,179
Gold redemption fund_ with U.S.Traas.
Gol~ held exclnsively
against
F. R. notes
Gold settlement fund with F~R.Board
Gold a.M. gold certif. held by banks
Total gold reserves.
Beserves other than gold
Total reserves
Non-reserve cash
Bills d.iscountedf
Sec. b,y u. s. Govt. obligations
Other bills discounted
Total bills discounted
Bills bought in open market
u.
S. Government securities:
Bonds
.214,862
51,559
19.~0
285,911
11.232
6)3,336 199,002
1118,845 30,914
195.3.77 }4,815
983.558 264,731
. 28,571 3,552
212,147 42,616 126,763 281,959
85,572 30,935 17,136 115.514
19,018 8,78~ 7,803 68,599
31.6. 737 82,335 151,702 466,072
9,612 4,280 13,643 15,074
10,286
2alA97
15,783
1~817
695 1, 731 1,462 5,912
25,703 18,993 17,857 15,842 5,120 9.245 5,271
16a217 8 1 267 11!467 38,463 28,452 35,568 16,399 13,622 18,261 14,220 25,580
lU,920 27,26<> 29,324 54.305 33.573 44,81} 21,670 14,317 19,992 15,682 31,492
844 1,187 2,036 8,379 4,373
1f1J 2,2,38 3,758
12,733 2,485 4,415
11.8,117
2321014
Treasury notes
Certificates of iiJclebtedness
-
s.
32.739
1}6,237 28,931 110,574
1,301
5,125
409
Total earning assets :
Uncollected items
Bank premiaea
All other resources
'l'O'l'.AL RESOURCES
c.
.
~
50,339
48,643
4,312
62
54' 275 238,892 3. 271,-403
54,006
1,191
2,9119
985
All other earning as sets
78,157 89,100
898 3,319
3.507
1,202
·5119 2,915
102,453 23,721 28,192
32,582 4,661 9,467
Govt. securities
59,057 57.988 }0,457 227,743 2,156,584
28,670 7,6}9 21,307 8,181 33.246 579,518
8,187 9. 707 5,105 8,625 33.958 419,468
101,511 76,~03 84,400 47,263 294.947 3,155,570
12,458 1,754 4, 700 7,012 3,945 115.~33
--'-
297,143 1,012,129 268,353 326.349 .86,615 165,345 481,146 113,969
14,934 1,775 2,969
2,517 4,326 9.~8 4,099
3.562
541
2},806
'-81392
Total U.
~.654
2,6o2
10
7,5}6 2,003 1,780
}0,746
14,163
6,529 13,Jll8 19,969
1,56o 3,859 5,815 4,665 12,886
60,910 . 8,089 24,74J 27,787 20,6os '4},6~2
4.426
42,676
20 13,808
389
-
...
-
190,890 59.977 74,313 6o,l99 36,220 109,481 }0,6o3 l.lo,247 49,815 44,Wj 19,507
131,971 53,410 53.579 47,105 20,698 74,347 28,527 11,718 }2,635 '19,460 }4,501
15,5l'9 1,113 9,129 2,52S 2,728 8,264 2,006 2, 781 4,595 1,912 2,~
208
7,310
134 5,556
1,693
338
195
959 4,045 4, 1
205
350,131
45,034
22,542
}08,552
98,700
429.794
1.301
826,260
556.591+
57,TI2
24,7'16
lf04,o61 1,3-72, 78} 364,753 1&66,544 199,172 231,010 (g3,0~. 179,338 139,3~57 180,423 126,963 42,},)63 4, 190,781
l
I
!
Released for publication Friday mozni.ng, June
27,
St.4120c
1924; ,not earlier.
RESOURCES AND LIAJ3ILITIES OF THE 'FEDERAL RESEIWE BANKS AT CLOSE OF :BUSINESS, JUNE
25, 1924.
LIABILlTIES
(In thousands of dollars)
Federal Beserve Bank of
F. R. notes in actual circulation
Deposits:
Member bank ... reserve ac<~ount
Government
Other deposits
Total deposits
Deferred availability items
Capital paid in
Surplus·
··All ·-ther liabilities
TOTJ~
LIAEILITIES
Loston
199~079
New York Phila.
Cleve.
Atlanta Chicago St.Icuis Minn. Kans. Cy. Dallas San Fran.
Rich.
341,286 185,824 213,931 72,073 137,739 256,591
126,594 813,381 114,146162,765
3,263 5,475 4,022
6,029
12,173
217
234 1,117
132,840 833,822 119,855 167,904
47,341 105,56o 48,212 47,033
29,983 10,208 12,644
7,972
16,390
59,929 19,927 23,691
2,203
727 1,341
439
404,061 1,372,783 384,753 466,544
61,509
3,244
152
64,905
43,584
5,851
11,672
1,087
199,172
57,322 311,157
6,074 6,336
111 1,028
63,507
14,636
4,580
8,950
1,598
231,010
318,521
6o,666
15,152
30,426
1,718
683,074
82.2
83.7
1,712
5,797
Total
61,387 67,773 62.484 40,543 205,207 1,843,922
72,34o
2,346
450
75,136
26,972
·5,066
10,072
705
179,338
48,479 149,411
2,861 3,903
284 4,569
51,624 157,883
21,248 35,381
4,139 8,019
7,577 15,301
1,827 1,512
126,963 423,303
2,035,342
52',110
21,007
2,108,459
490,757
. 111.420
220,915
15,308
4,790,781
45,338
1, 705
363
47,461
11,868
3,391
7,484
1,380
139,357
72,850
1,847
304
75,001
28,256
4,415
9,496
771
180,423
67.8
64.. 8
58.9
82.. 3
82.8
1,4o1
1,790
1,478
2,957
38,~97
Ratio of total reserves to deposit
and F. R. note liabilities
per cent
86.1
~orriliined,
Contingent liability on bills
pur~hased for foreign
c-.orrespondents
11,312
85.5
3,774
4,552
2,218
1,906
FEDERAL RESERVE NOTES OUTSTANDING AND IN AC'IUAL CHLCULATION
F. R. notes outstanding
F. R. notes h~l d by banks
F. R. notes in actual circulation
218,670
19,591
1.99,079
637,165 212;384 235,701 so,o66 149,257 286,312 73,252 11,072
295,879 26,560 21,770 7,993 11,518 29,721 11,865 3.299
341,286 185,824 213,931 72,073 137,739 256,591 61,387 67,773
76,352 48,849 250.911 2,339,991
13,868 8,301 45,704 496,069
62,484 4o,548 205,207 1,843,922
DISTRIIUTION OF IliLLS, U. S. CERTIFICATES OF INDEBTEDNESS AND M:JNICIPAL WARRANTS BY MATURITIES
V.l thin 15 days
16 to 30 days 31 to 60 days 61 to 90 days
From 91 days
Over 6 months
Total
to 6 months
Bills di SCOUL""lted
'Sills bought in open market
Certifi~ates of indebtedness
Muni~ipal warrants
w.
175,793
18,390
35,038
8,969
51
55,717
11,907
38,390
4,074
44,345
.1,694
93,361
848
~
5,339
350,131
45,034
98,700
51
I
....I
Released for publicati<n Friday morning, June
27, 1924;
St.
not earlier.
FEDERAL P.ESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, JUNE
4120d.
25. 1924.
(In thousands of dollars)
~ederal
Reserve Agent at
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. Board
Eligible paper Amount required
Excess amount be-ld
Boston
New York
Phila.
Cleve.
Rich..
Atlanta Chicago St.Louis
Minn. Kans.Cy. Dallas San Fran.
Total
91,700
218,670
251,980 47,760 58,470 4o,065 74,680 206,720 26,100 23,036 28,093 23,317 70,000 941,921
637,165 212.384 235,7o1 8o,o66 149,257 286,312 73,252 11,072 76,352 48,849 250,911 2,339,991
35,300
12,783
163,000
12,556
238,531 14,000 8,780
2,400
334.6o4
9,985 13,052
6,137 3,608 1,485 3,128 3,222 13.923 108,817
30,731 13,447 12,079 2,977 5.297
366,000 16o,389 190,000 35,295 117,000 273,645 lt8 ,500 43,000 53,36o 13,500 210,983 1,674,672
7,587
10,013
1,903 24,548 24,842 41,794 24,560
43,080
716 8,850 13,060 11,167
Net amount of Fecleral Reserve notes
received from Comptroller
of the Currency
310,370
889,145 26o,144 294,171 120,131 223,937
6,530 11,159 13,535 19,864 19,571 26,
41,554 11,192 1,601 1,917 . 4,67E 8,
iJ)
Jf,'(
221, 898
0 l.l
161,~
TOTAL
.L I A B I L I T I E S
Collateral received from
Federal reserve bank:
Gold
Eligible paper
Tar.AL
c..
~3,032
99,352 94,108 104,445 12,166 320,911 3,281,912
tF/
1
211,083
17,600
~.110
635,262 187,836 210,859 38,272 124,697 279,782 62,093 57,537 56~488 C$,278 224,906\ 2,1IZ,O;n)
49,983 25,264 33,692 54,854 35,727 48,084 22,351 15,136 21,781 24,249 J4,N 38~
539,053 1,574,390 473,244 538,722 213,257 384,361 820,898 183,796 166,781 182,714125,693
580:~ 5,78~
[)v<o
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@FedFRASER