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STATEMENT FOE THE PRESS S t . 447b F e d e r a l R e s e r v e Board, March 26, 1925« Released f o r p u b l i c a t i o n F r i d a y m o r n i n g , Mar. 21> not e a r l i e r . CONDITION OF FEDERAL EESEEV1 BAMS The c o n s o l i d a t e d s t a t e m e n t of c o n d i t i o n o f / F e d e r a l r e s e r v e banks on March 25, made p u b l i c by t h e F e d e r a l R e s e r v e B o a r d , shows i n c r e a s e s o f $ 3 8 , 2 0 0 , 0 0 0 i n h o l d ir^gs of d i s c o u n t e d b i l l s and of $ 3 0 , 2 0 0 , 0 0 0 i n a c c e p t a n c e s p u r c h a s e d i n opan m a r ket, and a r e d u c t i o n of $ 8 4 , 5 0 0 , 0 0 0 i n Government s e c u r i t y h o l d i n g s , w i t h t h e r e s u l t t h a t t o t a l e a r n i n g a s s e t s went down $ 1 6 , 1 0 0 , 0 0 0 . T o t a l d e p o s i t s d e c l i n e d &26,700,0G0, F e d e r a l r e s e r v e n o t e c i r c u l a t i o n $ 1 1 , 2 0 0 , 0 0 0 , and c a s h r e s e r v e s $2,400,000. The New York discounted, b i l l s , of $ 1 2 , 0 0 0 , 0 0 0 i s $ 2 , 0 0 0 , 0 0 0 by San discount holdings r e s e r v e b a n k r e p o r t s a n i n c r e a s e of $ 3 3 , 7 0 0 , 0 0 0 i n h o l d i n g s of C h i c a g o of $ 1 6 , 2 0 0 , 0 0 0 , and P h i l a d e l p h i a of $ 9 , 2 0 0 , 0 0 0 . A d e c l i n . shown b y t h e C l e v e l a n d b a n k , of $ 4 , 5 0 0 , 0 0 0 by S t . L o u i s , and of Francisco. The r e m a i n i n g b a n k s show r e l a t i v e l y s m a l l c h a n g e s i n f o r t h e week. I n c r e a s e d h o l d i n g s of a c c e p t a n c e s p u r c h a s e d i n open m a r k e t a r e r e p o r t e d , by a l l F e d e r a l r e s e r v e b a n k s , e x c e p t S t . L o u i s w h i c h shows a n o m i n a l r e d u c t i o n , t h e p r i n cipal increases being: C h i c a g o $ 1 1 , 4 0 0 , 0 0 0 , New York $ 9 , 6 0 0 , 0 0 0 , and. San F r a n c i s c o $2,300,000. The S y s t e m ' s h o l d i n g s of T r e a s u r y c e r t i f i c a t e s of i n d e b t e d n e s s went Sown $ 9 8 , 5 0 0 , 0 0 0 , t h e T r e a s u r y h a v i n g redeemed t h e $ 1 0 0 , 5 0 0 , 0 0 0 of s p e c i a l c e r t i f i c a t e s i s s u e d - , t o t h e F e d e r a l r e s e r v e b a n k s on March 18 p e n d i i r g t h e c o l l e c t i o n of income t a x e s . H o l d i n g s of U. S. T r e a s u r y n o t e s went up $ 1 1 , 6 0 0 , 0 0 0 and of U. S. bends - $ 2 , 4 0 0 , 0 0 0 . The p r i n c i p a l c h a n g e s i n F e d e r a l r e s e r v e n o t e c i r c u l a t i o n d u r i n g t h e w e e k comp r i s e a n i n c r e a s e of $ 5 , 0 0 0 , 0 0 0 r e p o r t e d by C l e v e l a n d and r e d u c t i o n s of $ 5 , 3 0 0 , 0 0 0 , r e p o r t e d b y New York, $ 3 , 1 0 0 , 0 0 0 by San F r a n c i s c o , and- $ 2 , 0 0 0 , 0 0 0 b y C h i c a g o . A summary of c h a n g e s i n t h e p r i n c i p a l a s s e t s and l i a b i l i t i e s of t h e banks d u r i n g t h e week and t h e y e a r e n d i n g March 25, 1925, f o l l o w s : Increase or decrease — Bills discounted, total . . . . . . . . S e c u r e d by U . S . G o v ' t , o b l i g a t i o n s . . Other b i l l s discounted U. S. Government s e c u r i t i e s , t o t a l . . . Bonds . . . Treasury notes C e r t i f i c a t e s of i n d e b t e d n e s s . . . . Federal Reserve notes in c i r c u l a t i o n . . . . . . . . . •J*. 98,600,000 104,700,000 16,100,000 4- 38', 2 0 0 , 0 0 0 + 33,000,000 + 5,200,000 + — 104,600,000 + 30,200,000 + 104,400,000 _ 84,500,000 2,400,000 44- 1 1 , 6 0 0 , 0 0 0 — 98,500,000 + + + 86,500,000 62,900,000 57,000,000 33,400,000 - 273,600,000 + + 177,200,000 206,200,000 45,500,000 - 11,200,000 26,700,000 56,900,000 + 23,300,000 + 6,900,000 - Members' r e s e r v e d e p o s i t s $2,400,000 6,500,000 during - Year Week — reserve - - - - + 100,000 16,800,000 R e l e a s e d f o r p u b l i c a t i o n F r i d a y m o r n i n g , March 2 7 , 19 2 5* st * 4476a •RESOURCES AMD LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( I n t h o u s a n d s of d o l l a r s ) Mar. 2 5 . 1935 Mar. 1 8 . 1925 Mar. 2 6 . 1924 R E S O U R C E S 1,600,051 54,811 1,623,972 48,005 2,082,659 1,654,862 1,671,983 2,139,604 619,409 593,059 624,265 577,598 605,918 • 377,422 2,867,330 140,822 2,873,846 3,122,944 136,748 100,107 3,008,152 3,010,594 3,223,051 56,501 56,031 51,054 214,570 163,071 181,615 157,869 214,656 267,659 377,641 339,484 482,315 B i l l s b o u g h t i n open m a r k e t . . . . . U. S. Government s e c u r i t i e s : Bonds • • Treasury n o t e s « • 4 C e r t i f i c a t e s of i n d e b t e d n e s s . • • 306,905 276,711 202,458 01,696 233,728 28,327 79,260 222,171 126,819 176,704 61,751 T o t a l U. S. Government s e c u r i t i e s 343,751 428,250 257,256 10,500 1,902 51 1,056,847 942,080 756,592 58,775 20,491 557,304 55,364 21,486 4,727,125 4,959,330 4,850,867 1,709,146 1,720,369 1,982,706 382 2,118,581 29,379 36,309 2,175,515 6,126 29,364 1,912,411 75,191 19,514 2,184,269 2,211,005 2,007,116 684,375 114,450 217,837 11,.294 513,762 110,831 220,915 15,155 4,959,330 4,850,867 Gold w i t h F e d e r a l r e s e r v e a g e n t s . . . Gold r e d e m p t i o n fund w i t h U . S . T r e a s u r y Gold h e l d e x c l u s i v e l y a g a i n s t F . R . n o t e s V Gold s e t t l e m e n t fond w i t h F. R. Board Gold and g o l d c e r t i f i c a t e s h e l d by banks T o t a l gold r e s e r v e s . . . . ' • Reserves o t h e r than geld . . . • . • . • • Total reserves Non-reserve cash Bills discounted: S e c . by U. S. Government o b l i g a t i o n s Other b i l l s discounted . . . . . . Total b i l l s discounted F o r e i g n l o a n s an gold All other earning a s s e t s . . . . . • Total earning a s s e t s 5# Redemption f u n d - F . R . B a n k n o t e s . Uncollected items Bank p r e m i s e s All other r e s o u r c e s . TOTAL RESOURCES . . . . . . " ' L I A B I L I T I E S F . R. n o t e s i n a c t u a l c i r c u l a t i o n . . F. R. Bank n o t e s i n c i r c u l a t i o n - n a t Deposits = Member b a n k — r e s e r v e a c c o u n t . • Government Othsr d e p o s i t s Total deposits • • • Deferred a v a i l a b i l i t y items Capital paid i n . . . . S u r p l u s . . •, All other l i a b i l i t i e s . . . . . . . TOTAL LIABILITIES . . . 10,500 1,902 • 1,040,699 56,9^5 18,801 28 602,247 58,816 20,710 549,438 114,492 217,837 • 11,943 4,787,125 ' R a t i o of t o t a l r e s e r v e s t o d e p o s i t and F . R. n o t e l i a b i l i t i e s combined . . . 77.3# 76.6# 80.8$ C o n t i n g e n t l i a b i l i t y on b i l l s p u r c h a s e d , for foreign correspondents 51,743 51,853 11,033 Pelsas6(1 f c r p u b l i c a t i o n F r i d a y m o r n i n g , March 27, 1 9 2 5 ; n o t e a r l i e r . S t . 4476b RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, MAPC? 25, 1 9 2 5 . •RESOURCES ( i n t h o u s a n d s of d o l l a r s ) F e d e r a l R e s e r v e Bank of Boston New York Phila,. Cleve. Rich. A t l a n t a Chicago S t . L o u i s Minn. K a n s . C y . D a l l a s San F r a n . Total Gold w i t h F e d e r a l R e s e r v e A g e n t s 159,692 Gold r e d e m p t i o n fund w i t h U . S . T r e a s . 1 2 , 4 3 2 361,766 135,217 169,759 10,74l 6,187 3,958 50,529 136,074 165,596 2,168 1,904 3,762 4g,940 4,497 66,694 64% 56,812 4,000 39,136 209,836 1 , 6 0 0 , 0 5 1 2,304 2,211 54,811 Gold h e l d e x c l u s i v e l y a g a i n s t F - R- n o t e s 172,124 Gold, s e t t l e m e n t fund w i t h F . R . B o a r d 42,954 Gold and g o l d c e r t i f . h e l d by b a n k s 28,066 372,507 141,404 173,717 198,549 43,256 61,953 324,553 23,064 30,354 52,697 137,978 169,358 17,542 l4,260 92,318 24,920 10,273 93,262 53,437 24,000 10,64l 67,341 20,324 6,621 60,812 46,077 2,786 4i,44o 212,047 1,654,862 '243,144 895,609 207,724 266,024 95,159 162,511 354,938 88,078 94,286 109,675 73,550 276,63 2 2,867,330 T o t a l gold r e s e r v e s R e s e r v e s o t h e r t h a n gold Total reserves Non-reserve cash B i l l s d iseounted: S e c u r e d by U . S . G o v t , o b l i g a t i o n s Other b i l l s discounted Total b i l l s discounted B i l l s bought i n open market U. S . Government s e c u r i t i e s ' Bonds Treasury notes C e r t i f i c a t e s of i n d e b t e d n e s s T o t a l U. S. Govt, s e c u r i t i e s F o r e i g n l o a n s on gold All other earning a s s e t s "ctal earning assets Uncollected items Bank p r e m i s e s All other r e s o u r c e s TOTAL RESOURCES V» 16,107 259,251 31,801 5,799 9,056 5,096 13,630 18,953 19,011 927,410 213,523 275,080 100,255 1 7 6 , 1 4 1 373,891 107,089 1,802 3,784 96,088 113,459 22,780 9,330 9,478 35,396 29,189 6,305 619,409 593,059 140,822 83,028 282,937 3,008,152 4,609 16,802 2,097 2,779 2,974 5,803 7,946 3,883 962 2,238 2,502 3,906 56,501 14,592 13,291 96,536 40,285 27,141 13,967 25,038 11,969 9,089 25,283 3,653 11,743 23,294 20,304 4,333 5,491 328 3,764 270 4,017 224 1,327 10,072 11,630 214,570 163,071 27,883 41,092 136,821 4i,i08 37,007 15,396 4,092 4,287 377,641 30,913 13,302 13,193 9,343 15,304 1,551 11,050 21,702 24,279 43,598 43,282 9,824 62,209 34,372 12,834 30,io4 306,905 2,662 14,373 4,113 12,460 77,323 4,486 l,4i6 22,490 365 11,001 22,162 6, 286 1,407 1,615 82 1,717 1,054 959 19,649 30,401 2,594 1,599 6,905 386 8,785 8,162 457 9,202 12,906 2,302 8,681 10,821 606 3,117 25,516 5,691 81,696 233,728 28,327 21,148 94,269 3,055 39,449 1,208 3,104 609 3,730 462 52,644 1,564 - 24,410 462 500 34,324 798 - 17,404 368 2 20,108 - 24,2?1 1,050 1,400 8,890 - 343,751 10,500 1,902 32,432 31,647 3,875 312 31,209 12,835 3,040 2,944 90,123 54,052 4,190 75 296,354 131,129 16,454 5,401 - 92,108 108,577 58,851 54,613 1,114 7,573 225 315 - 50,919 55,4l4 2,446 555 - - 32,890 141,088 29,471 79,985 2,780 8,099 2,002 1,746 525 399 - - 44,963 33,108 86,928 1,040,699 602,247 35,659 24,006 34,585 4,142 58,816 1,833 3,270 20,710 4,850 1,736 549 4 1 2 , 3 0 0 1,393,550 368,008 448,847 212,563 249,087 612,755 179,238 l 4 7 , 0 ? 8 201,016 146,215 4 l 6 ; 4 7 6 4 , 7 8 7 , 1 2 5 S t . 4476c e a s e d f o r p u b l i c a t i o n F r i d a y m o r n i n g , M a r c h 2 7 , 1925; n o t e a r l i e r . RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, MARCH 25, 1925. L I A B I L I T I E S ( I n t h o u s a n d s of d o l l a r s ) Boston New York Phila. CI e v e . Rich. A t l a n t a Chicago S t . L o u i s Minn, K a n s . C y . D a l l a s San F r a n . Total F e d e r a l R e s e r v e Bank of jr. B. n o t e s I n a c t u a l c i r c u l a t i o n 201,408 357,293 154,76s 193,442 75,166 141,107 169,188 4g,64g 66,367 65,473 43,871 191,415 1,709,146 Deposits: Member b a n k - r e s e r v e a c c o u n t Government Other d e p o s i t s 130,727 2,346 313 809,136 126,01* 163,306 8,237 1,137 2,001 18,475 1,208 2,106 63,850 833 2,318 66,826 320,680 3,208 4,525 731 1,491 78,945 1,524 1,601 55,386 1,037 290 86,811 5.53 844 60,827 156,043 2,118,581 i,76l 2,217 29.379 4ll 6,521 36,309 133,386 835,848 138,389 1 6 7 , 4 1 3 67,001 70,765 326,696 82,070 56,713 88,208 62,999 164,781 2,184,269 Total deposits Deferred- a v a i l a b i l i t y items Capital paid i n Surplus All other l i a b i l i t i e s TOTAL LIABILITIES R a t i o of t o t a l r e s e r v e s t o d e r c s i t and F . R. n o t e l i a b i l i t i e s combined, p e r c e n t 4 1 2 , 3 0 0 1,393,550 368,008 448,847 212,563 249,087 612,755 179,238 147,078 201,010 146,213 416,476 4 , 7 8 7 , 1 2 5 77.4 C o n t i n g e n t l i a b i l i t y on b i l l s purchased f o r f o r e i g n correspondents 77-7 15,020 75.4 5,180 76.2 5,956 70.5 3,004 83.1 2,279 75.4 7,718 81.3 2,590 78.1 1,813 73.8 2,279 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F. R. n o t e s o u t s t a n d i n g F . R. n o t e s h e l d by banks F . R. n o t e s i n a c t u a l c i r c u l a t i o n B i l l s discounted B i l l s b o u g h t i n open m a r k e t C e r t i f i c a t e s of i n d e b t e d n e s s Municipal w a r r a n t s 222,829 2 1 ,. 4 2 1 201,408 357,293 154,768 193,442 75,166 141,107 169,188 49,648 66,367 65,473 77.7 79-4 1,968 3,936 , 77-3 51,743 ._ 43,871 191,415 1,709,146 DISTRIBUTION OF BILLS, MUNICIPAL WARRANTS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES From 9 1 d a y s Total Over 6 months W i t h i n 15 d a y s 1 6 t o 30 d a y s 3 1 t o 60 d a y s 6 l t o 9 0 d a y s t o 6 months 377,641 3,418 18,674 9,131 36,922 21,070 288,426 3 06,905 8 , 3 1 3 6 4 , 3 8 1 92,773 54,769 86,669 28,327 13,089 1 4 , 7 0 3 535 -:* 2 2 '.aaced f o r p u b l i c a t i o n F r i d a y m o r n i n g , March 27, 1 9 2 5 ; n o t e a r l i e r . S t . 4476a FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, MARCH 25, 1925, ( i n t h o u s a n d s of d o l l a r s ) F e d e r a l R e s e r v e Agent a t Boston New York Phila. CIeve. Rich. 325,940 54,450 480,819 182,995 48,300 209,271 186,698 29,06s 146,000 119,389 8,780 10,979 150,000 47,776 7,744 39,512 26,891 40,264 428,184 493,733 A t l a n t a Chicago S t . L o u i s Minn. K a n s . C y . D a l l a s San F r a n . Total R E S O U R C E S F e d e r a l R e s e r v e n o t e s on h a n d Federal Reserve notes o u t s t a n d i n g Collateral security for Federal Reserve notes outstanding: Gold and g o l d c e r t i f i c a t e s Gold r e d e m p t i o n fund. Gold f u n d - F. R. Board Eligible paper Amount r e q u i r e d . E x e e s s amount h e l d 52,050 222,829 27,800 15,892 116,000 6,000 9,828 22,854 25,660 57,650 19,731 28,173 21,957 69,224 73,255 49,992 240,440 2,018,223 12,075 13,052 2,865 1,142 4,452 34,000 52,*500 52)360 8,710 13,170 2,530 16,443 2,970 10,856 30,604 418,172 IO,54I 1,564 20,717 230,392 210,047 389,242 698,429 154,130 168,720 177,653 123,505 562,997 5,257,723 113,647 225,114 446,211 83,310 101,428 71,949 301,840 3,009,108 1,600,051 648,564 63,833 266,537 90,793 161,281 1 7 9 , 6 7 4 3,234 5,000 5,074 4,952 126,000 160,644 47,295 - 1,347,537 N e t amount of F e d e r a l R e s e r v e n o t e s r e c e i v e d f r o m C o m p t r o l l e r of t h e Currency 274,879 806,759 237,445 257,571 Collateral received from Federal r e s e r v e bank: Gold E l i g i b l e paper 159,692 361,766 135,217 169,759 50,529 136,074 165,596 48,940 66,694 56,812 39,136 209,836 68,975 179,012 55,522 66,403 45,871 28,054 86,622 21,880 13,071 19,413 12,420 51,321 503,546 1,347,537 428,184 493,733 210,047 389,242 698,429 154,130 1 6 8 , 7 2 0 177,653 l i a b i l TOTAL i t i e 275,416 19,663 110,274 20,000190,173 1,214,361 503,546 TOTAL 990,885 3,125 119,053 5,607 14,078 72,544 16,011 63,137 5,838 59,959 25,207 2,847 61,too s 88,955 123,505 562,997 5,257,723
@FedFRASER