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t
STATEMEN'l! R:>R THE PBESS
Released for publication
s-~ ..
34o7
Federal Reserve Bo . .,:'d,
March 15, 1923...
Frid.a;r morning Mar. l6i
net earlier.
CONDITION OF FEDERAL RESERVE BANKS
.Aggregate increases of $47,900,000 in earning assets, of Which $4l.,6oO.,-OOO
represent an increase in discounted bills and $6,500,000 an increase ~n acceptances purchased in open market, are shown in the Federal Reserve Board's weekly
consolidated bank statement issued as at close of business on March 14, 1923.
All reserve banks, except those of Atlanta and San Francis~o, report larger holdings of discounted bills than the week before, the increases being greatest at
the :Boston, New York, Philadelphia and Chvela.nd banks.. Deposit liabilities show
a commensurate ~crease of $52,900,000, While Federal note circulation declined
by $l3,4oO,OOO.. Cash reserves fell off $4,700,000, and the reserve ratio declined
from 76.2 to 75.4 per cent.
Gold reserves show a reduction for the week of $5,300,000. Moderate shifting
of gold through the gold settlement fund. accounts partly for the changes in gold
reserves reported by the individual reserve banks. New york reports a.n increase
of $10,500,000~ San Francisco • an increase of $5,800,000, Atlanta~ an increase
of $4,300,000 and St. Louis - an increase of $2,200,000. All other reserve banl~
show decreases for the week in their gold reserves: Philadelphia ~.by $7 ,5()0,000,
'Boston- by $5,500,000, Cleveland- by $4,500,000, and the remaining five banks by $10,600,000.
Holdings of l:laper secured by Governnent obligations :!.ncreased during the
week from $330,100,000 to $361,300,000. Of the total held on March 14, $197,500,0CQ 1
or 54.7 per cent, were secured by U. s. bonds, $2,900,000, or 0.8 per oent, by
Victory notes, $155,4oO,OOO, or 43 per cent, by Treasury notes, and $5,500,000,
or 1 .. 5 per cent, by Treasury certificates, compared with $152,100,000, $2,100,000,
$165,600,000 and $10,300,000 reported the week before. .
A summary of changes in the principal assets and liabilities of the reserve
banks on March, 14, 1923, as compared with a -week and a year ago, follows:
Total reserves ·•••
Gold reserves • •
.
.. . .
..
.. .
.....
...
Total earning assets •• , • •
• •
Discounted bills, total • • • • • • • • • •
Secured b,y u. S. Government obligations •
Other bills discounted • • • • • • • • • ..
Increase
or
Decrease
In millions of dollars
since
Ma.r.,
1323 Mar. 15,1922
4.7
+ 95.2
5-3
+ 102.3
z,
+ 47.9
+ 41.6
+ 31.2
+ 10.4
94.3
21.3
+ 132.2
- 110,9
• • • • .
+
6.5
+ 133.1
United States securities, total
, .•
:Bonds and notes • . • . • • • • . • .
U. s. Certificates of indebtedness •• , •
+
.2
2. 7
..
~
253.6
2.9
-
199.2
+ 52.9
+ 53.0
+
82.3
+
+
57.2
25.6
Purchased bills
Total deposits • , •
• • • • • • • •
Members 1 reserve deposits • • , • • • •
Government deposits •• , • • • • •
Otfl.er deposits . . . . . . . . . . . .
.
..
Federal Reserve notes in circulation ,
F. R. :Ban~;: notes in circulation net liability • • • • .. • • • • •
• •
.
..
+
-
3.7
3.8
13.4
.2
+
54.l+
30-5
+
54,3
75.4
I
Released for publication Frid'"Y morning, March
16 1 1923;
St,34o7a
not earlier.
RE:SO'JBC:::;s AND LIABILITIES
OF TrtE r.rvVELYE F"EDFRAL .BESEPVE 'BANKS COMBINED
(In thousands of dollars)
RESOURCES
M_~l4 2 _]:923
Gold and gold certificates . • . , •
Cold settl<;rnent f1..md - F, R. Board ,
...
"~otal
gold h?l~banks •
Go:..d with J<'ederal Reserve Agents . • .
Gold redenp tion f1.md , • ,
, ,
'
'l'o tal gold reserves
Reserves other than gold •
..
...
,
...
'
Total reserves . .
Non-reserve cash , , • • , . , ,
Bills discounted:
Sec, by U, S. Government obligations • .
Other bills di s·:.o,mted , •
Bills bought in open market . • . .
Total bills on h~nd • . , ••.
U. S. bonds and r:,otes . . , . . .
U, s. Certificates of indebteQ.ness .
Municipal warrJ?.nt:.~ .• , , . •
, .
Total earning a.~~ ,
Bank premises , . , • • ,
5% BedeiiJfl~ion fund against
F, R. Bank notes , , ,
Uncollected items ,
,
All other resources
,
TOTAL RESOURCES
L I AB I 1 I T I E S
, • • , •
..
,
• • ,
•• , , •• , .
.
•. ,
..
...
Capital paid in
•••
Surplus , • . . .
Deposits:
Go'!ernnent
, • • •
Member bank-reserve account
Other deposits . • , . . . .
..
, •. ,
361,286
251 '773
225,41s
330,093
241,394
213,386
8)8,475
160,679
184,034
790,3 73
157,976
186,911
1,183,188
'48 ,108
291
6891039
17.348
5,202,460
•
___ _
3,101,397
*
229,068
362,662
871311
679,041
215,093
383,274
J.02
1,135,260
11277,5:1.0
38,005
4·7 ,937
311
6181956 ~
17,ll-Y
8,005
607,795
J.~
Si.O
108,852
218,369
103,948
215,398.
• •
42,442
1,932,714
20,633
1,995,789
2,242,902
33' 773
11879.697
24,392
1,942,862..
2,256,302
2,788
5491513
' '
2,599
621,433
12,885
5,202,460
\
.. ..
'
.
'
12,3~
5,09~
16 ,i89 '
1,845,493
51,181
1,913,463
2 ,183, 593
/b
78,029
529,912
18,679
5,048,022
( 0 (}')..,..
76.2%
75.4%
*Not shown separately prior to January
w.
805,463
2,090)124
80,435
----2,9761022
125,375
108,433
218,369
I·
Ratio of total ~eserves to deBnsits and
F. R. note liabilities combined • • . ,
..
~~,130
5,0481022
... . . .
'
311,550
-6L:5-,235
9561335
2 ,07L~ ,043
...
52,763
3,063,641
1171633
31201,274
70,144
(&0~
Total deposits , , . • • . . ,
. TOTAL LIABILITIES
313,211
633,208
951,413
2,068,613
58,262
_..:._.
3,076,294
llS ,275
3,196,569
67,917
15 .J322
321 ,23"3
5 ,09G-ffl7
I
F, R. notes in actual circulation
F. R. Bank notes in circulation net liability • • , • . , •
Defarred availability i terns
All other liabilities , . ,
Mar.LJ_~__jjEJ_ ~Jar.,
1923,
75.6%
j#t4l
SL ..·,&
$.,:
,~released
IHL,4U.
2 41.. ££?,1 ;p; ~.3 ..'·
Ak.: -4#.fh§44JA!14
tf#
£..§!{.&, l?Q44K ':·\:'±.¥.-:%--:~.& 9!JW .... ;t;;L)4.-.Atlfh,. .b<.:.4>hi.:-·+:· wo.
for puolicativn Frid.::.y r;;or·uing, March 16, l<J23j not earlier
RESOURCES AliD.LI.ABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSI.iJESS, MARCH 14, 1923.
(In tr.ous<!.nds of dollars)
RESOURCES
Tot.At.lanta Chico.;go St. Louis Minn. K~"'.ns.Cy. D.::l.llas San Fran.
11,
l,Ol.t
12,660
19,677
3,001
5,56o
~1.3,211
~,10~
795
5,~1~ 52,950
8,10B ~ ,56B
38!208
57,505
30t961 10, b13 42,287
71, 383_. 2 ,34. 19, ·o
951,419
434,002 51,998 84,243 32,951 25,626 110,455 1},668 32,333 33,968 21,722 61,964
. 6o9 402 160,279 205,722 6o,362 108,679 367,372 31,099 47,b% 54,252 14,674 180,470 2.063,613
1 1 641
1 1 421
28.262
g:486
3.590
1a229 11.124. ~~l.f.~O
1.211 2.228
2.1~1
2.211
Boston New York Phil a..
14J,bb8 21:!, }30
17 ,4}f>
2£o, 334 =s,:.;:.;3
31,001
Feder.::tl Reserve Bank of
Gold and gold certificates
GolJ. Settlement fund. - F. R. Board
Total gold held by banks
48,439
Cleve~
Rich.
4·
Gold with F. R. Agents
Gold Redamption fund
177.954
5.618
Tot.::l.l gold reserves
Reserves other than ~old
2}2,011 1,052,3)0 220,&67 2~3.696 98,330 135,544 490,081
7.Z89 19,641
17,043 7.491
1.774 11,989
10.948
Toku re3erves
8~,861
20,361
81,682
32'2
242,959 1,069,933 223,364 301,470 110,819 143,333 509,722 117,564
Non-reserve cash
10,347
8,366
3,088
4,061
3,351
Bills discounted:
Secured by U. s. Govt. obl ir;.'l.t ions
Other ~ills discounted
Bills bou;ht in open market
22,072
Z7 ,859
11 1 111
176,173
33,309
32 1 264
40,890
13,467
28.620
26,195
13,786
17 '754
25,708
~8.:283
180
67,042
~44, 746
32,977
78,369
l.f.4' 242
5,374
14,427
24,1.f.JS
12,355
1,341
22,069
10 1 000
4!6;g
25.26~
Total 0ills on hand
u. s.
bonds and notes
u.. s.
Certific~tes
of indebtedness
-Total earning assets
94;485
Bank pre;::rl.s13s
5~
-
--
---
-
43~ 250 252,534
3, 196, 56S
2,000
3.952
4,400
9,003
67,911
2,001 46,804
13,993 33,094
11.2:22 23a212
8,524
10,701
1,489
15,590
91~23
lt921
7,883
14,015
la011
1,254
17,572
18.126
10,247
32,679
21.663
361,2SE
251, 77~
222.41E
27 '~~6 103,.273 29,143 21,006 22,975 37,582 74,589
638,47~
531
7, 566. 18,113 '12,935
33,099
2,879
27' 616
160,67~
9,821
7!126
184,031
50,238 109,331
1, 133,181
66! 719
10!113
12.0
12!413
4-2,5f;b 152,558
57,934
34,671
68,%7
926
1,065
4,631
1,937
zoo
2S
48,10
3,747
40,650
16, 1)16
l.f.o, 777
25,222
4~, 577
639,03
603
1,Bt2
1,219
2,278
5,160
17,34
~14,558 1,512,655 403,333 498,657 222 ' 666 225.. 928 [)O 1 '3 50 222 I 427 13L,325 ~13,576 127,401 420 1 534
5 ,202,4E
10,373
676
7,607
2, 617
61,841
152,414
58,991
68,390
59,857
28,908
55
'j},216
492
1,896
667
936
439
521
1,250
All other resources
c
94,110
4-,695
Redemption fw1d ag::dnst
F, R, B:::~.nk notes
TOTAL RESOURCES
82,511
118,27~
2,216
l.f.,l.f.34
Uncollected items
3,078,294
4.249
37,j7} 247,662
4,872
5.271
6, 292
8,362
14 1 231
c:.69, 173 112,047 115,993 45,58.3
'J7 '1~7
---
------
·-----
--
-
1,979
29
rislea~dd
for
publicatio~
Friday morning,
~~rch
16, 1923; not earlier.
RESOURCES AND, LIABILITIES OF THE FEDERAL RESERVE
:B.JlliK:s
AT ClOSE OF DUSHESS MARCH 14, 1)23.
L I A~ I L I T I E S
(In
Boston New York Phila.
28,888 9,459
8,046
16,312
59,800 18,749
Federal Reserve Bank
Capital paid in
Surplus
Deposits:
Government
5,133
Member bank - reserve account 123,303
Other deposits
472
·128,908
Total deposits
F. Il notes in actual circulation 202,290
F. R. Bank notes in circulation net liability
Deferred availability items
58.485
Al). other liabilities
517
thousands of dollars)
Cleve. Rir-1-l•.Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran.
Total
3.570 4,647 4,182
7,767
108,48}
11,975 5,658
4,419 14,964 4,908
7,473 9,488
7,496 15,263 218,369
23,495 11,288 8,942 30,398 9,665
4,317
3,905 4,167
479
724,458 115,378 162,684 61,349
193
9 ,816
. 502 1,287
3,995
3,199
57,106 281,017
216 1,207
3,609
2,168 3,717
74,054 52,195 83,895
624
784
847
734,753 119,785 168,138 65,859 61,317 285,423 78,287
567,169 202,025 230,514 84,976 124,317 391,487 86,936
55,147 8~,459
55.885 64,539
2,152
5,601
42,442
53,496 143,779 1,932,714.
248
4,437
20,633
55,896 153,817 1,995,789
30,381-202,3Z3 2,242,902
453
1, 701
445
77.774 41,827 15,358 44,248 27,274 40,176
1,351
804
892
494 1,727
1,178
119,055 53,031 63.514 54,394 26,297
2,990
784 1,021
491
636
2,599
621,433
12,885
TOTAL LIABILITIES
414,558 1,512,655 403,833 498,657 222,666 225,928 801,850 222,427 138,325 213,576 127,4ol 420,584 5,202,460
Ratio of total reserves to deposit
and F. R.. note liabilities
. 82.2
71.0 . 75.6
comhined, per cent
73.4
77.2
71.2
75.3
61.5
50.1
70.9
75 .. 4
Contingent liability on bills
purchased for foreign
correspondents
F. R. notes outstanding
/
!J
2,132
223,041
20,751
F. R. notes in actual circulation2Cl2 ,290
F. R. notes held by banks
13,857
2,444
3,070
1,478
1,16ff"/• 3.951
1,251
966
:l,,222
FEDERAL BESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION
746,273 223,247 252,920 94,801 130,830 441,247 106,oo4 60,234 72,838
179,104 21,222 22,4o6 9,825 6,513 49,760 19,068 4,349
8,299
1,023
2,018
33.598 252,449 2,637,482
3,217 50,066
394,580
567,169 202,025 230,514 84,976 124,317 391,487 86,936 55,885 64,539 30,381202,383
DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS TIY 1'1ATURITIES
~ithin 15 days
16 to 30 days
31 to 60 days
61 to 90 days
Over 90 days
Bills discounted
453,oo9
36.384
6o,o86
41,971
21,o09
hills bought in open market
73,17g
41,627
60,442
38,968
11,201
. t'". S. Certificates of indebtedness
58,300
125.734
-.-w.
·;·
2,242,902
Total
613,059
225,416
134,034
:FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, i\IL4.:EC2 14,
1923.
(In thousands of doHars)
Federal Reserve Agent at
Boston
New York
Phi1a.
Cleve.
Rich.
Atlanta
Chicago
St.Louis
Minn.
Kans. Cy. Dallas San Fran.
Total
RESOURCES
Federal :Reserve notes on hand.
:Fec.e::al Reserve notes 011tstanding
.Collateral security for Federal
Reserve notes outstanding:
Gold and gold certificates
Gold redemption fund
Gold fund. - F. Il Board
Eligible paper.Ar~oun t req_uired
E:xces s amount held
TOTAL
80,000
223,041
334,34o 51,000 32,820 29 ,34o 75,268
746,273 223,247 252,920 94,801 130,330
113,360 22,740 8,325 19,810 21,239 61,725 849,967
441,247 lo6Joo4 6o ,231.~ 72 ,333 33.598 252,449 2,637,482
25,300
14,654
133,000
2,400
235.531 7,000 13,275
32,871 12,390 12,447 3,567 6,279
341,000 140,839 130,000 . 56 .795 100,000
9,330 l},C52
15,223 4,219 2, 796 2,392
352,644 67.500 32,000 51.360
6,461
312,399
2;213 17,230 126,836 .
6,000 163,190 1,629,373
73.375 24,905 12,386 13,586 18,924 71~979 568,869
45,087 136,371 62,968 47,198 34,439 22,151
34,895 4,243 8,159 4,330 .18,542 2,502 220.741
75.922 9,500 27,529 7,742 5,372
21,955
)48,037 1,902,808 506,994 566,189 226,684 342,300 1,030,749 238,991 136.952 169,366 106,977 569,125 6,345,672
L I AB I L I T I E S
Net amount of Federal Reserve
notes received from Comptroller of the Currency
Collateral received from
Fedsral Reserve Bank;
Gold
Eligible paper
TOTAL
w..
303,041 1;080,613 274,247 235,740 124,141 206,098
554,607 123,744 63;559 92,648 54,837 314,174 3,487;449
609,402 160:279 205,722 60,362 108;679
212,793 72,468 74,727 42,181 27,523
367,872 81,099 47,848 54,252 14,674 180,470 2,068;613
108,270 29,148 20,545 22,966 37.466 74,481 789,610
177,954
67,042
@FedFRASER