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STATEMENT FOR THE PRESS St. y;46 Released for publication Federal Reserve Board, Friday rr~rning June 8; June 7, 1923. not earlier. CONDITION OF FEDEF.AL RESERVE BANKS Aggregate increases of $3,900,000 in discounted bills, as against reductions of $9,600,000 in acceptances purchased in open market and of $6,500,000 in Government sedurity holdings, accompanied by an increase of $24,4oO,OOO ,in deposit liabilities, are indicated in the Federal Reserve 'Board's weekly bank statement iss-ued as at close of business on June 6, 1923. Federal reserve note circulation remained practically unchanged, cash reserves advanced $2·,"700,000, while the reserve ratio shovv-s a decline from 76.1 to 75.7 per cent. Aggregate increases of $35,600,000 in the holdings of discounted paper are shown for seven reserve banks, the New York bank reporting an increase in these holdings of $23,300,000. Decreases in the holdings of discounted paper, aggregating $31,700,000, are Shown for five reserve banks, chiefly Boston and Cleveland, which report decreases of $14,700,000 and $8,600,000 re~ectively. Gold reserves show a further gain for the week of $4,900,000 and stood at $3,113,700, an increase for the present year of $66,300,00b, compared with an increase of $135,100,000 for the corresponding period of last year. The inter-district move· ment of gold, largely through the settlement fund, has been away frorr1 New York City. also from St. Louis, the local reserve banks reporting decreases in their gold reserves of $lo,4oo,ooo and $7,000,000 respectively. Smaller, reductions in gold reserves, totaling slightly over $8,000,000 are shown for the Philadelphia 1 Cleveland, and Chicago banks. Boston reports an increase in its gold reserves of $13,900,000; San Francisco - an increase of $4,100,000, Kansas City- an increase of about $4,ooo ,000, and the four remaining banks a combined increase of $8 ,300 ,000. Holdings of paper secured by Government obligations increased during the week from $371,500,000 to $384,100,000. Of the total held on June 6, $190,200,000, or 49.5 per cent, were secured by United States bonds, $178,800,000, or 46.6 per cent, by Treasury notes, and $15,100,000, or 3.9 per cent, by Treasury certificates, co~ pared with $214,000,000, $143,300,000, and $14,200,000 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: . z. .. .. Total reserves • Gold reserves • . . Total earning assets Discounted bills, total Secured by u. s. Governrr1ent obligations Other bills discounted • Purchased bills • . . .. . ... ... ..... • ... ..... ...... United States securities, total l3onds and notes . .. . . . . . . . . u. s. Certificates of indebtedness . .. .• Total deposits. . . . . . . . . Members' reserve deposits Government deposits . . . ..... Other deposits • . . . . . I Federal Res~rve notes in circulation • F. R. Bank notes in circulation net liability . .... ....... c. Increase or Decrease In millions of dollars since June 1922 Ma:£ 29. 1923 64.2 + 2. 7 + + + 103.6 4.9 + + + + + + 12.2 3.9 12.6 8. 7 9.6 + + + + .1 112.1 435.1 6. 5 10.1 3.6 24,4 21.5 9.4 6. 5 I 8.4 314.. 7 235.2 79.5 101.9 333.2 + + + 79.0 71;6 11.3 3.9 + 108.7 70.2 Released for publication Friday morning, June S, 1923; not earlier. REOOUR CES AND LIABILITIES OF THE TWELVE FEDERAL BE SERVE BANKS COMB! NED 1 (In thousands of dollars) June 6, 1923 May 29, 1923 RESOURCES Gold and gold certificate~ • • • • . Gold settlement fund - F. R. Board , • June la 1922 346 ,soo 677,179 341,175 702,303 323,745 502,204 1,023,979 2,031,42i 5S,266 1,04},483 2,011, 734 53,545 825,949 2,123,242 55,8Sl ••. 3,113,666 3,108,762 3,010,072 . Reserves other than gold • . 84,.552 86,735 123,994 3 ,l9S ,21S 3,134,066 71,90S 3,195,497 61,245 3S4,131 350,790 al.!.g ,234 371,533 359,462 2 57,818 148,949 271,305 983,155 141,877 4o,874 55 1,165,961 51,251 9SS 1 Sl3 152.011 37,277 55 1,178,156 51,164 556,437 243,775 374,10i 1,174.313 40,994 191 609,959 14,216 191 572,394 14,734 7,518 525,893 20,6S4 5,111, 704 .5,073,381 4, 90},46S 109,363 218,369 109 ,34s 218,369 104,859 215,39S ?0,870 1,895,629 29,530 41,439 1,874,106 36,041 39,574 1,823,961 33,455 1,976,029 2,250,213 1,951.,586 2,250,217 1,396,990 2,141,531 1,628 537,938 18,164 1,752 524,323 17,786 450,~97 5,111, 704 5,,073,381 4,903,46S Total gold held by banks • Gold with Federal Reserve Agents •• Gold redemption fund . • • • • Total gold reserves ... Total reserves Non-reserve cash • • • • • • , •• Bills discounted: Sec, by U. S. Governrr1ent obligations • • Other bills discounted • • • & Bills bought in open market • • . . , . . To tal bills on hand • • • . U. S. bonds and notes • • • ... " U. S. Certificates of indebtedness • • . • . • • Municipal warrants . • . . • Total earning assets Bank preni ses • • , , . • . 5% Rederrption fund against F. R. Bank notes . • . . Sncollected iterr1s . • • .All other resources . • • • . .. .. TOT.AL REEOURCES * 136,~83 L I AB I L I T I E S . Ceq;>ital paid in • . • . . . Surplus • • • . . . Deposits: Government • • • • • . . , • • Member bank - reserve account Other deposits • • . • . . . Total deposits • . • . • . F. R. notes in actual circulation F. R, Bailk notes in circulation net liability • . • • • . Deferred availability i terns All other liabilities • . . "~.'·_ ,,, •. ·_, , TOTAL LIABILITIES • 71,812 22,381 I Ratio oJ total reserves to deposit and F. R.' note lia:bili ties c.ombined . • . • 75.7% Contingent liability on bills purchased for foreign correspondents • , • • • • . 76.1% 77.6% 29,245 *Not sbown separately prior to January 1923. w. • Beleased for publication Friday morning, June 3, 1923; not earlier. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, JUNE 6, 1923. (In thcusands of dollars) Federal Reserve Bank'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 Bills bought in open market . Total bills on hand u. s. bonds and notes u. Certificates of indebtedness s~ Boston 17,211 11.315 39,026 173,973 1lt 134 274,133 _3.96} 280,146 14,916 20,302 21,320 19,8lt 61,940 3,637 126 Municipal warrants Total earning assets Bank premises 5% Redemption fund against F4 R. Barik notes Uncollected items All other resources TOTAL RESOURCES 65,703 4,434 New York Phil a. 130,231 212.512 3921303 637,699 1,014 1,037,516 20.106 1,057,622 10,981 RESOURCES Cleve. Rich .. Atlanta Chicago St. Louis Minn. 25,225 12,733 3,855 5,973 23a246 12a24o 292534 2S 1 899 43,571 36.023 33.339 34,872 173.346 212,232 32,612 94,334 2.215 2.644 4,312 2a553 227,192 300,399 75,313 131,309 4.514 4.455 5.211 6,216 231,766 305,354 31,030 138,055 4,155 . 4,153 1,970 6,909 50,201 3,512 124 1 236 - 19 .211 174,537 22,723 375,210 52,351 10.611 4,146 560,413 79,720 10.615 15.963 571,093 95,688 7,223 5,271 47,919 1.112 71,989 57g 72,563 2,113 42, lo6 22,317 20,462 S4,3G5 3546b San Fran 20,310 21.:212 54,132 30,995 12,113 183,087 3.555._ 11 012 _ 3.563 72,816 35,474 245,337 ),0'32 4a411 3.210 75,363 39,951 24g,047 3, 536 3,497 7,179 3,073 3,166 14.225 35.100 221293 38,266 10,760 11 a529 22,239 Total 346,300 6Z1al19 1,023~979 2,031,421 58.266 3,113,666 84.552 3,198,218 71,908 - 24,584 26,177 3.950 39,193 16,025 4,310 21,510 36,6 74 29,760 4},602 23,524 13' 760 3511&1 1,945 20,513 28,}42 9.821 3L,275 64,796 54,233 111,133 49,370 23,570 4&S 6,653 11' 552 15,129 24,-446 12,653 1,341 1 13,804 345 7,143 3 55 289, 625 109 , 734 101,071 66,137 54,772 136,595 6o,922 35,702 12,066 719 8,550 2,617 2,54& 8, 715 955 1,273 153,421 40,993 114,053 268,477 6,966 14,132 Kans.Cy. Dallas St. 17,954 28,130 129 46,263 28,015 243 3,390 27,422 12l642 43,954 3,350 31,219 36,723 25,262 93,204 27' 617 24 334,131 350,790 24Sa234 983, ],~5 141,577 40,874 22 74,521 4,936 47,334 120,345 1,165,961 1,942 2,496 51,251 - 26 100 65 191 55,689 122,527 51,605 62,743 56,276 24,339 84,039 37,394 14,981 37,229 25,526 37,308 609,959 6o6 401 112 418 ~37 119 1.132 1.1.15._ 2.134 11:H8 930 4.564 142216 421,000 1,494,499 398,519 452,477 20&,431 227,131 503,660 200,409 131,424 197.266 120,449 421,439 5,111, 704 c. ----------· St.3546c .tLe.J..e=S:du 1 or publication Friday morning, June 3, 1923; not earlier RESOURCES AND LI.ABILITIES OF THE FEDEBAE RESERVE BAN"JCS AT ·CLOSE OF BUSINESS JUJilE 6, 1923. L I AB I L I T I E S (In thousands of dollars) Cleve, Rich. Atlanta -Gh:i.~a.go St.Louis Minn. Kans. Cy. Dallas San Fran. Total Boston New York Phila. Federal Reserve Bank of 4,198 7 ,812 109,363 29,186 9,764 12,085 5,725 4,415 15,024 4,933 4,597 8,066 3, 558 Ca:pi tal paid in . 9,488 11,288 8,942 7,496 15,263 218,369 9,665 23 ,495 J 749 7,473 59,800 18 16,312 30t398 Surplus Deposits: 1,658 50,870 14,723 2,667 945 1,637 15,861 2,616 1,933 1,380 1,704 2,138 3,603 Government 61,073 48,327 143,929 1,395,629 58,487 276,940 704,990 116,403 159,553 70,029 46,773 79,287 124,333 Member bank- reserve account 29,530 324 4,076 16,127 309 1,596 459 393 339 1,562 509 357 1,979 Other deposits Total deposits 128,445 735,34o 119,379 162,812 62,477 6o,431 294,730 73,538 49,550 32,229 50,355 155,143 1,976,029 F. R. notes in actual circulation 214,846 - 563 '599 202,694 227 '4o3 77 '997 133,502 4ol,993 74,900 54,936 60,432 23,045 204,866 2,250,213 F. R. Bank notes in circulation 753 490 335 1,623 net liability 52,523 97,160 46,093 55,125 50,065 18,333 63,903 36,349 14,761 39,095 27,454 36,577 537,938 Deferred availability items 1,309 1,024 1,146 935 2,016 1,778 13,164 303 3,914 1,340 1,557 379 953 All other liabilities 421,000 1,494,499 398,519 432,477 203,431 227,131 so3,66o 200,409 131,424 197,266 12o,449 421,439 5,111,704 TOTAL LIABILITIES Ratio of total reserves to deposit and F. R, note liabilities 81.6 combined, per cent Contingent liability on bills purchased for foreign correspondents F. R, notes outstanding F. R. notes held by banks 31.1 2,196 71.3 73.3 57.7 . 71.2 32.0 Bills discounted Bills bought in open market u. s. Certificates of indebtedness !v'lunic.i:;~al warrants w. 53.2 50.6 69.2 75. 7 3,162 1,522 1,200 2,513 4,070 1,238 29,243 995 1,259 ' 1,054 2,079 FEDERAL RESERVE IDTES OUTSTANDING AND IN ACTUAL CIRCUU.TI ON 733,54o 243,153 251,549 35t321 133,463 449,397 93,506 59,427 68,589 30,702 247,071 2,635,228 169,941 40,459 24,146 7,824 4,961 47,904 18,606 4,491 8,157 2,657 42,205 365,015 . VJi thin 69.5 7,900 223,510 13,664 F. R. notes in actual circulation 214,346 64.5 ··- 563,599 202,694 227,4o3 77,997 133,502 4ol,993 74,900 54,936 6o,432 23,045 204,366 2,250,213 DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF DIDEBTEDNESS .AND MUNICIPAL WARRANTS BY MATURITIES 15 days 508,613 93,320 11,103 16 to 30 days 31 to 60 days 61 to 90 days 51,960 57,945 33,421 57,045 47,569 23,636 4o 15 From6 months 9l days 42,362 6,233 5,365 .to Over 6 months 23,906 Total 734,921 248,234 4o,374 55 St. 3546d. Released for publication Friday morning, June 8, 1923; not earlier. FEDERAL RESERVE AGENTS 1 ACCOUNTS AT CLOSE OF BUSINESS, JUNE 6, · 1923 • Federal Reserve Agent at (In thousands of dollars) Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. RESOURCES Federal Reserve notes an hand 31,350 Federal reserve notes outstanding223,510 Collateral security for Federal · Reserve notes outstanding: 25,300 Gold and gold certificates 20,673 Gold redemption fund 12.8,000 Gold fund - F. R. Board Eligible paper Amount required 54,537 7,403 Excess amount held TOTAL 313,340 40,200 31,220 ,29,450 79.94o 738,540 243,153 251,549 35,321 138,463 117,300 25,890 10,982 33,563 13.574 50,100 449,897 93,506 59,427 68,539 30,702 247,071 235,531 7,000 13,275 2,400 31,163 12,457 13,957 3,817 3,934 371,000 153,839 135,000 28,795 88,000 11' 880 .13, 052 11,565 3,471 2,867 363,645 37,500 32,000 100,341 69,607 39,317 53,209 44,079 147,584 2,477. 41,481 9,984 10,065 2,635 23,36o Total 336,909 2,635,228 ~ 314,899 6,461 1,652 20,691 123,937 4,000 167,396 1,587,585 74,6;.;7 40,655 ll,508 37.594 18,589 53,934 36,447 8,490 11,663 8,661 25,237 33,436 603,807 342,978 545,773 1,943,004 528,983 575,799 211,076 366,931 1,053,541 221,392 141,499 179,402 105,265 577,678 6,450,343 ----------------------------------------- LIABILITIES Net amoxnt of Federal Reserve notes received from Camptroller of the Currency Collateral received from Federal Reserve Bank: Gold Eligible paper TOTAL c. 309,s6o 1,056,380 283,353 282.769 115,271 213,403 173,973 61,940 637.~39 173,346 212,232 32,612 94,384 248,425 72,254 80,798 63,193 54,144 567,197119,396 70,4C9 102,152 49,276 297,171 3,472,137 375,210 52,851 47,919 111,134 49,145 23,171 30,995 12,113 165,087 2,031,421 46,255 43,876 92,420 946,785 545,773 1,943,004 526,983 575,799 211,076 366,931 1,053,541 221,392 141,499 179,402 105,265 577,678 6,450,343
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