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STATEMENT FOR THE PRESS St. 3419 Federal Reserve Board, March 22, 1923. Released for publication Friday morning Mar. 23; not earlier. CONDITION OF FEDERAL BESERVE BANKS Reduction of $55,~00,000 in the total holdings of Treasury certificates, as against increases of $2,900,000 in other Government securities and of $12,500,000 i:J!l bills purchased in open market, is shown in the Federal Reserve Board's wtilekly consolidated bank statement issued as at close of business on March 21, 1923. Discounted bills show; an increase for the week of $i6,900,000t all reserve banks except the New York and Dallas banks reporting larger hol!ings of discounted paper than the week b$fore, Deposit liabilities declined $10,700 1000, an increase of $56,200,000 in Government deposits being more than offset by a reduction of $66,900,000 in memberst reserve and other deposits. Federal reserve note circulation shoJs a decrease of $11,400,000, cash reserves fell off $3,900,000, while the reserve ratio rose from 75.4 to 75.7 per cent. During the week the gold movament was mainly towards the New York and Boston Banks, which report increases in their gold reserves of about $46,000,000 and $16,000,000, respectively. Smaller increases in gold reserves, aggregating $10,400,000, are also reported for Chicago and Kansas City, All other reserve banks show decreases for the week in their gold reserves: San Francisco- by $18,400,000, St, Louis,- by $16,700,000, Philadelphia,- by $13,300 1000, and the remaining five banks - by about $28,000,000. I~' I I Holdings of paper secured by Government obligations declined during the week from $361,300,000 to $351,900 1000. Of the total held on March 21, $195,200,000, or 55.5 per cent, were secured by u. S. bonds, $2,700,000, or 0,8 per cent, by Victory notes, $146,4oo,ooo, or 41,6 per cent, by Treasury notes and $7,600,000, or 2.1 per cent, by Treasury certifipates, compared with $197,500,000, $2,900 1 000, $155,400,000 and $5,500,000 shown the week before. A sumrr~y of changes in the principal assets and liabilities of the reserve banks on March 21 as compared with a week and a year ago, follows: Total resarves • • • Gold reserves • , • ... ... • • Increase or Decrease In millions of dollars since Mar, 14, 1923 • Mar. 22, 1922 + 88,0 3.9 4,0 + 97.6 Total earning assets • , • • • • Discounted bills, total • • • . • , • Secured by U, S, Goverm1.;mt obligations Other bills discounted • • • . • . . + + 16.9 Purchased bills + 12.5 - 52,8 " ' 41 ' • ... • United States securities, total • , • Eonds and notes , , • • • . . U, S, Certificates of indebtedness Total deposits Members' reserve deposits • . • Government deposits , • , • , Other deposits • , • • • • . • • Federal Reserve notes in circulation F, R, Bank notes in circulation net liability, • • . • , • • • 1 , • • • 1 • 1 23.3 + + + , + + .7 11.4 .2 124.7 150.9 151.3 45.4 105.9 2.9 10.7 66.2 56.2 13,7 14,1 110.6 55.7 I c 9.4 26.3 + + + 210.5 198.6 + 32.3 20.4 + 48,1 76.5 • r Released for publication Friday morning, March 23, 1923.; not earlier, RESOURCES AND LI.ABILI'I'IES OF THE TWELVE FEDEP.AL BESElWE BANKS CO!v'IBINED (In thousands of dollars) RESOURCES Gold and gold cartificates , Gold settlement fund - F. R. Board Total gold held by banks . Gold with Federal Reserve Agents GoJ.d redemption fund , . . • Total gold reserves Reserves other than gold .• Total reserves • • • .. .. • ' t • ...... • • .. Non-reserve cash . . • . • . . BillS. discounted: .. Sec, by U. S. Government 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. Bcnk notes .• , , . , . . Uncollected items All other resources I f 0 t I •• TOTAL RESOURCES . LIABILITIES Capital paid in , Surplus . . . . Deposits: Government . . . . . • , . . Member bank - reserve account Other deposits , , . . . . . . Total deposits F. R, notes in actual circulation F. R, Bank notes in circulation net liability . • , • . . . , Deferred availabil~ty items All other liabilities • • " • f • • ... • ... t t TOTAL LIABILITIES . . . . Ratio of total reserves to deposit and F. R, note liabilities combined . . I • Mar. 14, 1923 Mar. 22,1922 313,211 321,499 638,2C8 514,262 971,798 2,052,103 50,400 951,419 2,068,613 58,262 835,761 2,061,361 79,581 3 ,074,301 118,323 3,192,624 69,451 3 ,07 8,294 118,275 3 ,196 ,569 67,917 2,976,703 127,907 3,104,610 351,861 273,126 237,965 361,236 251,773 225,416 227,138 388 f 769 87,045 867,952 163,589 123,322 41 833,475 160,679 184,034 702,952 2()3,968 234,196 102 1,159,904 48,761 1,183 ,188 48,108 1,146,218 38,237 291 645,874 14,439 29j_ 689,039 17 ,348 7,806 521,650 15,306 5,131,344 5,202,460 4,833,327 108,563 213,369 103,483 218,369 103,961 215,398 93,627 1,866,475 19,931 42,442 1,932,714 20,633 66,359 1,667,842 40,382 1,935,033 2,231,487 1,995,739 2,242,902 1, 774,583 2,183,374 2,368 572,000 13,524 2,599 621,433 12,885 73,863 458,377 19,271 5,131,344 5,202,460 4,833,827 75.7% *Not shown separata1y prior to January 1923. w. I • . .. Mar, 21, 1923 323,572 648,226 75.4% * 78.4% ·---------------------------------~~------~~f.e1eased for publication Friday morning, March 23, 1923; not earlier .RESOURCES AND LI.ABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, MARCH 21, 1923 • (In thousands of dollars) St. 3419b.. RESOURCES Federal Reserve Bank of Gold and gold certificates Gold Settlement fund - F.. R. Board Total gold held by banks Gold w)th F. R. Agents Gold Rod.eq>tion fund Total gold reservas t:: Reserves other than gold Total resarves Boston New York Phil a. 17,516 159.320 22,510 4z.841 292.118 26 1 120 65,359 452,098 %,.700 Atlnnta Chicngo St. Louis Minn. Kans.Cy. Dallas San Fran. 1,291 5,829 53t223 3,097 7,803 3,032 11,076 19' 651 g.4ol+ :26.442 6a209 22 1 4j3 32a4lj l~a916 20t29>) 112141 Cleve. 13,159 >)g 1 84s Rich. 73,007 23,267 175,163 639,225 153,1+16 206,S89 1a4g4 2al+S6 2 1 9}8 1z541 243,016 1,093,370 207,602 232,834 9,606 30,241 58' 696 107 '926 361, 170 68,084 ~ 1 915 la342 1a0q9 2.110 87,941 135, 392 498 '641+ so,46o 47,212 1,620 12 1 48z 41 28~ 255,24o 1,115,002 215,770 290,920 100,428 142,700 517,757 102,306 79,917 96,128 1,845 3,651 5 1 168 s,os6 9,334 2,832 3,539 3,039 Bills discounted: Secured ~y U.S. Govt. obligations Other bills discounted Bills bought in open market 22,947 27,165 17,196 136,465 33,572 29,242 43,622 17 J 752 28,302 21,276 21,.212 44,519 har~ 67' 308 199.279 89,676 87,007 bonds and notes 5,637 15,962 24,433 12,355 St544 1,700 4,606 4-1 19,271 S~ U. S. Certificates of indebtedness Munic.ipal Vilarrants Tot::tl earnir.g assets Bank premises 5fo Redemption fund i:!g~inst F. R.. Bank notes Uncollected items All other resources TOTAL RESOURCES c 4 53,553 la142 79,073 91,743 844 16l1~,2 10,301 U. 36,445 21 1 846 101224 Non-resarve cash Total bills on 26, 121+ 130, 375 81,489 4,434 216,941 118,761 113,633 11,338 676 7,866 1,}08 1,9 a112 20,480 56,096 971,793 12,651 168,118 1 1 ;232 4 1 9g9 2)952, 103 34,513 229,213 3,074, 301 4 1 S4j l13 1 322 39,356 234,100 3,192,624 3,957 9,518 69,451 1, 715 17,085 21,478 19,025 30,540 35,703 351,361 276,126 237,965 867.952 5,176 23,329 28,505 775 3,448 53,522 15,990 33,920 16.074 28,400 10,594 14,885 11,997 4, 350 . 11,268 16,733 15,767 1,077 3,197 52,609 35,512 121,142 37,476 24,230 28,112 40,278 55,273 32,932 27,617 1, 341 . 54o 7,299 18,124 14,065 9,501 51,375 10,300 S69 53,950 - 45 t 55 3 179 , 816 2,617 2,305 8,715 - 5,871 ,, - - 3,279 9,160 ' ... ·~ 163,539 128,322 7,125 ·- . -· -- .---....... 41 -~ ~· - 52,717 120,015 1,159,904 2,045 46,761 65,900 39,214 66,915 926 1,071 4,331 1,937 200 26 65 »o14oo 4 1 851 7,045 8,311 Total 323,572 643.226 • 291 28,311 83,536 33, 6o6 14,487 33,698 24,904 43,260 645~374 1,005 365 1,308 972 2,196 4,570 14,439 4o9, 215 1, 486,545 396,678 4~6.968 219,642 227,637 802,992 213,279 133,342 211,395 125,093 413,508 5,131,344 54,059 132~557 58,213 192 1,373 376 6-5,079 631 59, n4 444 507 Released for publication Friday morning, March 23, RESOURCES Federal Reserve Barik Capi.ta1 paid in Surplus Depo.;;its: Goverrment Member bank - reserve account Other deposits Total deposits F. R. ~otes in actual circulation F. R. Ba~k notes in circulation net; lia1lility Defsr:cad availability i terns .All othar liabilities AND 1~3; St. 3419a. not earlier. LIABILITIES OF THE FEDERAL RESERVE BANKS .AT CLOSE OF BUSINESS MARCH 21, 1923. L I AB I L I T I E S (In thousands of dollars) Boston N0w York Phila. Cleve. Rich. Atlanta Chicago 8,046 16,312 8,850 120,424 426 129,700 202,94o 51,618 -599 28,888 9,459 11,974 5.~57 59;800 18,749 23,495 11,288 4,42o 15,031 8F942 30t398 St~Louis 4,914 9,665 2,605 28,694 3,590 10,373 6,505 5,904 17,127 70,546 681,053 114,124 157.589 60,595 56,503 277,022 580 905 9,556 1,033 984 167 260 719,303 118,747 168,946 67,267 62,667 295,054 73.731 568,287 198 ;180 224,874 84,063 124,851 391,856 85,916 107,330 2,937 50.675 868 443 56,573 50,818 26,121 68,753 1,106 549 686 1,451 Total Minn.. Kans . Cy. Dallas San Fran. 108,563 7,767 3,585 4,639 4,183 218,369 9,488 7,496 15,263 7,473 2,345 5,300 2,408 545 56;}]0 56,143 939 89,472 322 4,926 98,627 53 ,44o 83,233 51,283 140,663,1,866 ,lU5 4,214 .·. 19,931 54;013 149,803 1,985,033 63~759 .29,800 2_00 ,818 2,231,487 1,485 44o 38,203 13,907 42,008 27,419 38.575 850 901+ 544 1,742 1,282 2.368 572,000 13,524 TOTAL LIABILITIES . 409,215 1,486,545 396,678 486,968 219,642 227;687 802,992 213,279 138;342 211,395 125,093 413,508 5,131,344 Ratio of total reserves to deposit and F. R. note liabilities 66.S 75.7 combined, per cent 77-6 47.0 66.4 64.1 62.7' 71.1 75.4 Contingent liability on bills ·purchased for foreign carr e spondent s 220,250 17,310 35,4o5 2,444 3 ..070 1,478 1,165 3,.951 1,251 966 .]._,222 1~023 2,018 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 74o,052 224,583 248,086 92,785 131,078 440,285 104,989 59.758 72,14o 33,436 250,097 2,617,539 171,765 26,4o3 23,212 8,722 6,227 48,429 19,073 3,615 8,381 3,636 49,279 386,.052 F. R. notes in actual circulation 202,940 2,231,487 F .. R. notes outstanding F. R. notes held by banks 2,132 14,685 568,287 198,180 224,874 84,o63 124,851 391,856 85,916 56,14J 61.7159 29,s-oo 2oo.,_818 · . . AN.Q MUNI CIP.AL WARRANT;;) DISTRIBUTION OF BILLS , . U. S. CERTIFICATES OF INDEBTEDNESS/BY IvlATUBITIES Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days Over 90 days Bills discounted 457:147 40,184 66,358 45,811 20,487 Bi:t.ls bc·uqht in open market 12,001 66,559 43,874 63,421 52,110 U. S. Certificates of indebtedness 1,700 54;124 72,498 41 Digitized M~icipal for FRASER warrants .. Total 629,987 237.965 128,3~ 41 Released for publication Friday morning~ March 23, 1923; not earlier. F.EDERli.L RESERVE AGEms• ACCOUNTS AT CLOSE OF BUSINESS, MARCH 21, 1923. (In thousands of dollars) Federal Reserve Agant at Boston New York Phila. Clevec Rich. Atlanta Chicago St.Louis Minn. Kans. Cy. Dallas san Fran. Total RESOURCES Federal Reserve notes on hand Fe.deral Reserve notes outstanding Collateral security for Federal Reserve notes outstanding: Gold and gold certificates Gold redemption fund Gold fund - F. R. l3e.ard Eligible paper Amount required Excess amount held 220,250 92,4oo 334,34<> 45,300 33,620 30,690 73.768 74o ,052 224' 583 248 ,036 92,735 131,078 110,620 22 '7l.&o 9,4o5 19,810 20,879 61,725 355,797 44(),285 104,989 59.758 72,14o 33,436 25o,097 2,617,539 25,300 11,863 138,000 2,4oo 235.531 7,000 ZJ;275 32,694 13,527 13,614 1,901 5,026 371,000 132,889 180,000 56 '795 100 '500 11,880 13,052 16,525 4,204 2,16o 4,193 344,645 52,000 32,000 49,36o 45,0$7 22.221 100,827 71,167 41,197 34,089 23,152 67,851 4,175 39,191 16,278 12,357 314,899 6,461 2,190 15,647 123,"544 4,000 152,471 1,613,660 79.;11.5 36,905 12,546 18,_587 20,785 81 .. 979 42.,011 571 11,293 9.525 19,471 3,291 565,436 248,235 555,1211,882,295 499,141 568,983 232,538 348,281 1,033,201233,289 14o,214 173,615107,222 565,210 6,339,110 LIA13ILITIES ..)Jet anount of Federal Resene notes received from Comptroller of the Currency Collateral received from Fed-eral Reserve Bank: Gold Eligible paper TOTAL· 312,650 1,074,392 270,383 281,706 123,475 204,846 550,905 127,729 69,163 91.950 54,315 )11,822 3,473.336 175,163 361,170 68,084 47,212 53,553 12,651 168,118 2,052,103 121,126 37,476 23,839 28;112 4o,256 85,270 813,671 67~308 639,225 153,416 2o6,889 ,,s,696 107.926 168,678 75,342 80.388 50,367 35,509 555,121 1,882,295 499,141 568,983 232,538 348,281 1,033,201233,289 14o;214 173,615 107,222 565,210 6,339,110 W. •• ~ ---~- ~....._----~
@FedFRASER