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STATEMENT FOR THE PRESS St.3580. Federal Reserve Board, June 23, 1923, Released for publication Friday morning, June 29i not earlier, CONDITION OF FEDERAL RESERVE BAl-JXS Aggregate increases of $55,800,000 in earning assets, of which $42,4oO,OOO represents an increase in discounted and purchased paper and $13.4oO,OOO an increase in United States securities, are shown in the Federal Reserve Board 1 s weekly consolidated bank statement issued as at close of business on June 27, 1923. Deposit liabilities show an increase for the week of $15,300 1 000, Federai reserve note circulation increased by $4,600,000, while cash reserves fell off $12,500,000, In consequence of these changes the reserve ratio shows a decline for the week from 77.6 to 76.9 per cent. Holdings of discounted bills show a further advance of $43,900,000. The New York reserve bank shows an increase of $21,500,000 in its holdings of discounted paper, Chicago- an increase of about $17 1000,00C, San Francisco- an increase of over $10 1 000 1 000 and four other banks - a combined increase of $9,300,000. Decreases in the holdings of discounted paper, totaling about $14,ooo,OOO,are shown for the Boston, Atlanta. St. Louis, Minneapolis and Kansas City banks, Gold reserves show a decline for the week of $18,300 1000. The gold movement, partly through the settlement fund, was largely away from New York City, the local reserve bank reporti~g a decrease in its gold reserves of $36,100,000. Chicago reports a decrease of $5,800,000, and smaller decreases, totaling $6,800,000,are Shown for five other reserve banks. The largest increase in gold reserves for the week, amounting to $9,100 1 000, is reported by the Cleveland bank, St. Louis shows an increase of $7,200tOOO, and smaller increases,aggregating $14,200,000, are shown for the Philadelphia, Boston and Richmond banks. Holdings of paper secured by Government obligations increased during the week from $352,7oo,oeo to $383,300,000. Of the total held on Ju.."le·27, $243,00o.ooo, or 63.4 per cent, were secured by United States bonds, $121,500,000, or 31.7 per cent, by Treasury notes, and $18,800,000, or 4.9 per cent, by Treasury certificates, compared with $225,000,000, $110,200,000, and $17,500,000 reported the week before. A summary of changes in the principal assets and liabilities of the reserve banks, as compared with a week and a year ago, follows: d'otal reserves • Gold reserves Increase or De~rease Im millions of dollars since June 20, 1923 June 28 ,. 1922 + 54.1 12.5 + 89.9 18.3 . .... ... .. .... .. " ' To tal earning!'?asset s • • • . . • . . , • Discounted bills, total • • • • • • • • . ,. Secured by U, s. Government obligations 0 ther bi 11 s discounted • • . • . , . • . , Purchased bills .... . . . ... . United States securities, total • • • • . • Bonds and notes • • • . . • . • . . U, S. Certificates ~f indebtedness • , , • Total deposits • • • • • • , Members' reserve deposits Government deposits •• Other deposits •• , . , • • t' • • • • • • ' ••• . .. . f Federal Reserve notes in circulation F. R, Bank notes in circulation net liability • • • • • • • • . • w. + + + + - .. . t .... .. 1.5 + 50.2 + 13.4 .4 + 13.3 - 421.6 116.5 305.1 + 15.3 6.6 + 23.2 1.3 + ... 65.5 + 305.9 + 193.4 + 112.5 55.8 43.9 30.6 13.3 4.6 -· < + + 2.7 2,4 ,2 5.3 + 102,5 65.7 ~'Pl::ased for public,ation Friday morning) June 29, 1923., not earlier. St.3580a RESOURCE~ MID LIABILITIES OF THE TWELVE FEDERAL RESERVE EANES COMBINED (In thousands of dollars). June 27, 1923 June 20 1 1923 June 28, 1922 RESOURCES Gold and gold certificates • • • • . Guld settlement fund - F. R. Board • T.?_~~).__go ld held by banks • Gold with Federal Reserve Agents . Gv ld redemption fund • • • • • • • . Total gold reserves ' Reserves other than gold • Total reserves Non-reserve cash • • • • • . Ei 11 s di scoun ted~ Sec, by U.S. Government obligations Other bills discounted ••• Eills bought in open market t • Total bills on hand • . . U. S. bonds and notes • · • . • . • U_ S. Certificates of indebtedness • Muni~ipal warrants • • • • • • Total earning assets Eankpremises • • • • • • 5% Redemption fmd against ~. F. R. Earik notes • • • Uncollected items • • . • • All other resources TOT.AL BESOURCES 326,334 691,429 350,252 688,063 316,937 532' 351 1,017 '763 2,035,011 57,970 1,038,315 349,23~ 2,033,359 57,341 3,129,015 85,966 2,123,373 48,207 3,020,363 3,214,981 68,914 3,143,366 383,297 391,666 204,225 352,733 378,368 205,716 139,909 279,192 154,060 979 ,133 103,158 26,818. 55 623,161 224,633 331,969 1,114,219 936,817 103,563 12,966 55 l,053,4o1 52,270 52,215 1,179, 768 41,563 193 583,917 12,394 191 6e5,S12 12,299 7,587 511,571 15,988 5,037,502 5,092,813 4,904,348 109,427 218,369 109,422 218,369 105,078 215,398 43,952 1,867,650 24,997 20,764 1,874,220 26,330 43 '730 1,865,199 30,297 1,936,599 2,226,954 1,921,314 2,222,352 1,939,276 2,124,422 1,548 525,165 19,440 1,489 601,028 18,839 67,259 430,314 23,101 5,037,502 5,092,313 4,904,843 3,110,744 91,735 3,202,479 72,030 127,498 * L I AB I L I T I E S . . . ... .. Capital paid in • • • ,. . . "' ,.. . Surplus • • . . • Deposits: • . . . • . . . . . • . . . . • GovermJ.ent • • • • • • • • . • • . Member bank - reserve account Other deposits • • . • • • • • • • • • Total deposits • • • . • . . F. R. notes in actual circulation F. R. Bank notes in circulation net liability • • • . . . • referred avai1abi1i ty i terns All other liabilities •• ~ .. TOTAL LIABILITIES • ... Ratio of total reserves to deposit and F. R~ note liabilities combined ••• 76.9% 77.6% Contingent liability on bills purchased for foreign correspondents . • • • . • 33,539 33.500 *Not shown separately prior to January 1923. 77.5% i:.t. j:;.30b. Released for publicaticn Friday morning, June ::S, 1923; not' earlier. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, JUNE 21,1923. (In thousands of dollars) Federal Reserve BaJiik of Gold and gold certificates Gold settlement fund - F.R.Board Total gold held by banks Gold with F. R. Agents Gold redemption fund Total gold reserves Reserves other than gold Total reserves Non-reserve cash • Bills discounted: Secured by U.S.Govt. obligations Other bills discounted ~ills bought in open market Total bills an hand u. S. bonds and notes U. S. Certificates of inde~tedness Municipal warrants Total earning assets Bank premises 5% Redemption fund against F. R, Bank notes Uncollected item~ ·All other resources TOTll.L RESOURCES Boston New York Phil a. 17,203 156,424 60 0}0 253a292 77,233 409,716 178,040 637,278 9.912 15.251 270,530 1,056,586 26s119 6.149 276,6791,083,365 8,128 14,276 1 20,713 27,629 18.564 66,906 4,074 87 71,067 4,434 25,992 21.201 47,199 168,336 6s918 222,513 5.213 227,786 4,906 45,820 26,560 19.509 91,889 17,667 14 55 235,183 109,625 12,398 7i9 120,956 39,372 4},112 204,040 9,701 21,442 RESOURCES Cleve. Rich. Atlanta Chicago St.Louis 15,715 84a155 99,870 207,458 1.515 308,843 5a018 313,921 3, 798 38,289 26,643 21.591._ 92,523 10,453 347 9,463 31.258 40,721 28,660 5.810 75,191 2.414 78,665 1,905 6,158 22.632 23, 790 103,046 _£._260 134,096 61636 140,732 6,827 48,038 98.858 146,896 382,895 2.142 532,533 1o.811 543,410 8,587 3,678 19.918 23,276 53,057 3. 489 79,822 15.004 94,826 5, 789 Minn. Kans .Cy. Dallas San Fran. 3,267 3,173 18.454 34.001 26,627 37,274 36,568 29,422 _g_JQ!±___l&20 65,499 70,546 682 3.326 66,181 73,872 4,130 2,135 27,903 6,259 50,760 17,674 7,282 38,083 28,916 50,587 23,013 21,117· 1.118 9.652 _!±2.043 1.061 67,764 44,827 144,390 47 748 28,399 221 8,357 8,101 12,615 1,341 302 101 4,505 J 11,321 5.264 16,585 12,923 1.253 30,761 5.202 35,963 3,910 19,544 29,940 26 49,510 24,664 20 -. 1,017,763 2,035,011 51.910 3,110,744 91.135 3,202,479 72,030 25,345 383,297 48,824 . 391,666 20,651 204,225 94,820 979,188 9,185 108,158 26,818 100 28 193 18,457 37,222 583,917 51,470 128,457 56,512 63,536 50,557 20,812 78,720 30,665 13,982 33,527 2 10' ) .C!22 12. )q4 --~1~02~--~1~,4~7w9~--=2~~--~20c2~--~41~7~--~4~12~--~58~5~--~12~8~~l~,~TIL7~--~~ 418,028 1,469,010 399,777 493,724 203,266 216,584 79~,334 188,559 126,580 191,635 110,558 422,447 5,037,502 c 326,334 6gl,4~ 55 48,151 104,005 1,114,219 1,946 2,580 52,270 103,323 69,105 45,149 157,252 56,151 41,014 8,844 2,617 2,59?. 8,715 1,000 1,471 65 2,752 30,982 12,638 46,372 1, 779 20,902 42.674 63,576 197,328 2a2o 263,824 3.255 267,079 7,639 Total --- ~ ~- ~-- ~--~-----__:__----~- -- - --~~------------------'----- ---~--- ----- St.3530c Released for publication Friday morning, June 29, 1923; not earlier. RESOURCES.AND LIABILITIES OF THE FEDERAL RESERVE BANKS .AT CLOSE OF BUSil~SS JUNE 27, 1923. L I AB I L I T I E S (In thousands of dollars) Total Cleve. Rich, Atlanta Chicago St.Louis Minn. Ka.ns.Cy. Dallas San Fran. Boston New York Phila. Federal Reserve Bank of 29,206 9,780 12,079 5,725 4,419 15,042 4,951 3.567 4,585 4,198 7,809 109,427 8,066 Capital paid in 7,496 15,263 218,369 16,312 59,800 18,749 23.495 11,288 8,942 30,398 9,665 7,473 9,488 Surplus Deposits: 43,952 18,954 1,932 1,869 1,391 1,993 3 ,4o5 2,079 1,051 1,4o2 2,590 3,428 3,858 Government 45,205 146,955 1,867,650 44,575 705,323 109,581 162,326 66,372 122,546 51,151 276,172 77,569 59,875 Member bank - reserve account 225 4,008 24,997 186 14o 1,302 823 15,091 652 511 301 507 1,251 Other deposits Total deposits 126,705 739,368 112,020 165,446 61,452 53,284 280,879 69,103 46,137 79,794 48,020 154,391 1,936,599 F.R. notes in actual circulation 216,027 533,713 206,686 233,504 77,251 133,190 4o4,058 73,214 54,391 59,946 27,561 207,413 2,226,954 . F.R. Bank notes in circulation 1,548 837 203 508 net liability 50,055 102,954 51,085 57,488 46,568 15,751 64,051 30,474 13,823 36,581 20,683 35,652 525,165 Deferred availability items 19 ,44o 863 3,969 1,457 1,712 982 998 2,069 1,152 1,1.89 1,038 2,092 1,919 All other liabilities 418,028 1,469,010 399.777 493.724 203,266 216,584 797.334 188,559 126,580 191,635 110,558 422,447 5,037,502 TOTAL LIABILITIES Ratio of total reserves to deposit and F. R. note liabilities combined, per cent 80.7 85.1 Contingent liability on bills purchased for foreign correspondents 11,091 71~5 78,7 2,952 3.707 56.7 1,785 75.5 1,4o7 79.3 4,771 66.6 1,510 65.8 52.9 1,167 1,476 47.6 73.~ 1.236 2,437 76.9 33.539 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 234,877 18,850 F. R. notes in actual circulation216,027 F. R. notes outstanding F. R. notes held by banks 747,693 244,543 255,446 84,909 137,615 455,834 91,662 58,742 69,216 30,792 253,812 2,665,141 213,980 37,857 21,942 7,658 4,425 51,776 18,448 4,351 9,270 3,231 46,399 438,187 533,713 206,686 233.504 77,251 133,190 4o4,058 73,214 54,391 59,946 27,561 207,413 2,226,954 DISTRIBUTION OF BILLS, U, S. CERTIFICATES OF INDEBTEDNESS .AND MUNICIPAL WARRAN~S BY f.IIATURITIES Within 15 days 524,586 Bills discounted 77.785 Bills bought in open market 21,529 U, S. Certificates of indebtedness http://fraser.stlouisfed.org/ 4o ~icipa1 warrants Federal Reserve Bank of St. Louis 16 to 30 days 56,282 47,013 15 31 to 60 days 83,480 36,906 61 to 90 days 61,403 37,723 177 !~oG ~~~n~~~s 48,853 4,798 3,432 Over 6 months 359 1,680 Total 774.963 204,22~ 26,$18 55 he~.c;-.asecl St.3580d :fer publication Friday morning, June 29, 1923; not earlier. FEDERAL RESERVE AGENTS' ACOJUNTS .AT CLOSE OF BUSINESS, JUNE 27, 1923. (In thousands of dollars) ·Federal Reserve Agent at Boston New York Phila. Federal Reserve notes on hand 81,450 Federal Reserve notes outstanding2)4,877 Collateral security for Federal Reserve notes outstanding~ Gold and gold certificates 35,300 14, 74o Cold redemption fund 128.000 Gold fund - F. R. Board Eligible paper 56,837 .Amount required l-0 ,069 Excess amount held :f'OT.AL Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans. Cy.. Dallas San Fran. Total 318,34o 44,4oo 30,520 27,870 81,450 747,693 244,543 255,446 84,909 137,615 113,300 25,44o 10,997 31,963 19,894 61,200 846~824 455,834 91,662 58,742 69,216 30,792 253,812 2,665.141 2,4oo 8,805 235.531 7,000 2,865 5t646 30,747 12,447 13,653 371,000 148,889 185,000 25,795 95,000 11,880 13,052 11,251 3,177 1,516 3,062 371,644 38,000 22,000 26,360 110,415 76,207 68,694 4,983 47,988 43,596 56,249 34,569 8,986 10,161 3 72,9w 38,605 22,174 39,794 71,4 9,069 5.726 9,716 320.429 6,461 118,451 2,462 16,885 4,000 180,443 1,59p,131 17,869 56,484 28,395 37,503 630,130 I 308,341 561,273 1,882,420 538,469 585,008 206,674 366,841 1,096,411 217,833 134,207 180,111 109,873 606,327 6,485,4~~1 I L I AB I L I T I E S Net amount of Federal Reserve notes received from Corr~ troller of the Currency Collateral re c-.ei ved from Federal Reserve Barik! Gold Eligible paper IDT.AL 316,327 1,066,033 288,943 285,966 112,779 219,065 569,134117,102 69,739 191,179 '50$686 315,012 3,5:I-1,965 p 178,040 66,906 637,278 168,336 207,458 28,660 103,046 179,109 81,190 91,584 65,235 44,730 382,89h/ 53,057 36,568 29,422 12,923 197,328 2,o3S,o11 I 144,38t 47,674 27.900 49,510 46,264 93,987 938,471' 561,273 1,882,420 538,469 585,008 206,674 366,841 1,096,41\217,833 134,207 180,111 109,573 6c6,327 6,485,4~ --------------------------------------~--------------------------------~' \ w.
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