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STATEiviENT FOR 'rHE :?RESS
St •. 3503.
Federal Reserve Foard,
May 10, 1923.
Released for publicativn
Friday morning, May 11;
not earlier.
CONDITION OF FEDERAL RESERVE BAN"CS
Reductions of $35,300,000 in discount-ad bills and of $3, l~oo ,000 in acceptances
purchased in open market, as against an increase of about $l,OCO,OOO in United
States securities, are shown in the Federal Reserve Board 1 s weekly consolidated
bank statement issued as at close of business on May 9, 1923. Deposit liabilities
show a commensurate decline of $46,200,0CO, while Federal reserve note circulation
increased by $4.,300 ,000. Total cash reserves increased by $7 1 000,000 and the reserve ratio shows a rise from 75.2 to 76.1 per cent~
Smaller holdings of discounted bills are shown by the tnree Eastern reserve
banks, also those at Atlan·~a, Chicago, St. Louis and Mirmeapolis, while the five
rerraining banks show moderate increases in t~eir holdings of discounted paper for
the week under review.
Gold reserves show an increase for the waek of $3,300 1 000, The gold movement
through the settlement fund was away from .New York, wh;.c=. reports a decrease in its
gold· reserves of $25,300,000. A decrease of $3, 90C ,000 is reported by 'he Ricbmond
bank and smaller de~crease s totaling $2 1 800,000 are shown for the St. Louis 1 Minneapolis and Dallas banks. The largest increase in gold reserves, amounting to
·
.·
$15,400,000, is shown for the Chicago bank, Boston reports an increase of $7,600,000,
San Francisco - an increase of $7 1 500,000, Cleveland - an increase of $5,600,000
and the three remaining banks - an aggregate increase of $4,100,000.
Holdings of paper secured by Goverm:ent obligations decreased during the week
from $362,600 1000 to $358 1 600,000. Of the total hel~ on May 9, $193,100,000, or
53.9 per cent, were secured by Utlited States bonds, $2 1 900 1000, or 0.8 per centf
by Victory notes, $153.,200,000, or 42.7 per cent, by fllreasury notes, and $9 14oo;ooo,
or 2.6 per cent, by Treasury certificates, compared with $206,ooo,ooo, $2,900,000)
$142,800,000 and $10,900,000 reported the week before.
A summary of changes in the principal assets and liabilities of th..; reserve
banks, as compared with a week and a year ago 1 follows:
Increase
or
Decrease
In !Tlillions of :1ollars
since
May 10, 1922
May 2,_m
Total reserves . . . .
Gold reserves
'
•
•
•
c
...
.•
+
+
Total earning assets ,
Discounted bills, total • . . . , . . .
Secured by U. s. Government obligations
0 ther bills discounted • • • ~ • . . . ,
Purchased bills . . . • •
United States s2curities, total.
. , •
, . . • .
Bonds and notes . • .
,
U, S. Certificates .. of indebtedness
. ..
Total deposits , . . . , . . . . . • •
Members 1 reserve de)O sits . , , . . .
Governnen t deposits , • • . • • . . .
Other deposits . , . . · . . • . . .
+
+
. . •
. • •
• . ,
·
Federal Reserve notes in circulation . . . • •
F, R, Bank notes in circulationnet liability, • . • • • . . · . . . , . . •
C,
+
+
7.0
+
51.6
83.6
(:{ 3•
u.
+.
42.7
35.3
4.0
31.3
+
+
+
192.3
8,4
+
161.5
23,1
431.7
1.0
.• 9
.1
112.1
319.6
46,2
8.2
26.5
11.5
+
+
4.3
+
.2
49.7
220.4
43,5
30.0
21.7
9.G
32,6
72,1
Released for publication Friday morning, ~~ 11 1 1923; not earlier.
RESOURCES .AND LIABILITIES
OF THE TWELVE FEDERAL RESERVE BANKS CCM:BI NED
(In thousands of dolla~s)
~Y. 9, 1923
Mk~y 2J 19~
RESOURCES
Gold and gold certificatas • • • • • .
Gold settlement fund - F. R. 'Board •
Total gold held by banks • • • •
Gold with Federal Reserve Agents • ., • • •
Gold r ademption fund • • • • • • • • • • •
Total gold reserves • , · • • • • • • . ,
Reserves other than gold • • • , • • , • •
Total reserves ••• .
• •
Non-reserve cash • .. • •. • • • • , •
'Bills discounted:
Sec. by u.s. Government obligations • •
Other bills discounted , ••• , • .. .
Bills bought in open market • ••• • • •
Total bills on hand • • • • • • • •
W. S. bonds and notes • • • • • • • • • •
U., s. Certificates of indebtedness •
Uunicipal warrants
Total earning assets • • • • • • • • •
Bank premises .. • • • • • • • • • ,' • • •
5% Redemption fund against
F, R. 'Bank.notes , ~ . . . . . . . . . , •
Uncol1ec.ted i terns • • • • • • , • • • • •
.All other resources • •. • , • • • .•. , ., •
. .. ..
•
•
t
II
......
...
..
I
•
•
•
•
•
•
•
•
I
•
,
•
•
•
... . . .
TOTAL RESOURCES • ., .
LI A9 I L I T I ES
.,
Capital paid in • • • • • ,
Surplus • , • • • • • , •
'
.
Deposits:
Goverrment • • • • • • • • • • •
Member bank - reserve account
Other deposits • • • •• · • • •
Total deposits • • • • • • . •
F. R. notes in actual circulat~on
F. R. Bank notes in circulation net liabili t7 • • • • • .
Deferred ava.i lability items • • •
All other lia.bili ties • • • •• ,
.. ..
•
j
. ..,
..
..
•
...•
..
•
•
f.-
.
•
323,062
706,261
1,029,323
2 ,oo5 ,o66. 3. (
54,4;p:r'
3 '088 '865',""
92,557
3,181,~3~)
67,726
358,637
336,380
266,992
962,009
148,960
36,854
St. 3503a
May 10, 1922
317, 71J.O
693,564
1,011,304
2,005,998
63,277
3,080,579
93,809
3.lr4,388
61,642
327,387
444,752
772,139
2,172,052
61,103
3,005,29l.J.
.. 124,523
3,129,817
362,633
367,707
275,429
1,005,769
147,993
36,779
166,322
308,264
105,517
580,103
261,042
356,463
--
•
4o
4o
1,190,581
50,059
1,147,863
50,155
1,197,608
39,903
191
640,543
14,i99
7,602
499,923
19,961
5,13l,bo3
4,894,814
109,029
218,369
108,822
218,369
104,608
215,398
22,616
l ,886 ,1}55
28,599
49.083
1,894,651
40,114
'191 '1
b00•83Y
13,811
.
5,061,991'
1,1
44,~6
1,806,
4
'3s "iz
'
t){;i
:,889,212
• • • • 1,937,670 11() l ,983,848
2 t"-')4'.L, ~
2,237,505 '/'. 2 ,159 '186
• •
74,214
2t-299
2,065 1/V
430,601
564,788
536,2l8"
,
21,595
'15,972
16,826
. • . •
4,8~4;814
5,061,99'( 61 5,131,603
..
..
TOTAL LIABILITIES ~ •
Ratio of total reserves to deposit and
F. R. note li~bilities combined . . • •
76.. l.:7~
75.2%
77.3%
Contingent liability on bills purchased
for foreign correspondents • • . . . . •
33,615
33.235
34,671
*Not shown separately prior to January 1923.
Released for publicaticn Frid·w morning May ll,
2t. 3503b.
1923; not earlier.
I.ESOUECbS ;J.ID LI.ABILITIES OF THE FEDERiL RESERVE BANKS AT CJJOSE OF BUSINESS, IlLY
9, 1923.
(In thousands of dollars)
.RESOURCES
Federal Reserve Bank of
Gold and gold certific:_-ct es
Gold. settlement fur:d - F. R. Board
'l'ntaJ gold held by banks
Go1c: ;:vj.th Jf. R. Agents
GoJd redemption furd
Total gold reserves
Rese':Yes 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. S. Certificates of indebtedness
Boston
New .-York
Phila.
17,487
154,631
68,326 25ls26J
35,313 _407,398
170,23S 638,077
7,065
10,328
263,166 1,056,303
8,507
l'h£93
24-,316
33,823
_53,14-4
164'*150
6,231
228J525
},611
Bnnk
. 5;~
ur~mises
Atlanta
17,495
15,245
4,373
200
61,243
4,434
24,300 12,344
343 5,495
40
1,341
260,141103,966 111,853 63,313
11,709
712
3,238
2,617
3,809
22,559
All other resources
TOTAL RESOURCES
c.
54-8,1~
Minn. Kans.Cy.
Dall3.s
San Fran.
Total
8,007 3,117 10,577
20,839
323,062
16,629 31,231 9,787
37.901 706,261
24,636 34,}93 20,364 53,7901,029,323
46,820 43,734 12,181 173,722 2,005,066
2,3~6
2.772 1,)00
4,551
54,~
73,L12 b0,904 33,925 237,073 3,0SG,8Q1'
~
1,007 3,593 4,365
4,041
92,557
98,597 74,319 84,502 33,290 241,114
6,921~ 5,211
1,678 3,659 4,458
5,598
,.
3,131,~
JIJ
67,726
11,.661 1,621 26,933 353,637
22,365 24,091 33,118
336,380
~~20~--5~6~·~3.3=8~~23~1=10~7~~42~JI~3~47L--=2LI:2~7~2~3~2~,~~~7--.3~3U!~~~3~~11~l~79~6~--~~~1__,~1~2~9-~1~2~,7L5~3~~3~1~,8~6~g~-~2~6~6L>9~9~2._
55,360 255,563 79,273 94.,014 62,47 2 5G, 575 122,195 42,317 22,630 34,155 33,465 96,920 962,0C9
5,635
203
143,603 42,431 29,012 23,981
50,127 13,740 22,655 36~219
35,417 13,664 4,010
52,995 16,917 13,349
541 6,893 14,373
7 19,421 3,255
3,379
6,000
27,572
24
4,367
1,937
2,2.61
50,155
100
26
30,333 37,713 15,019 36,801
370
750
325 1,618
998
22,467
2,233
37,613
4 • 527
191
'I
6oo,33r
13 ' 31 ]_
59,123 143,509
2,516
Redemption fund against
F. R. Bank notes
Uncollected items
Chicago· St4Louis
12,533 8,194 5,395 53,571 3,495
77.309 27.914 23,337 110,450 15.732
90,392 36,103 29,232164-,321 19,227
206,139 Jl ~475 9lp2}0 362:740;353,460
2,508 3.943 3.066 7.~ 2,772
299,089 77,526 123,528 534,5~ &0,459
~
.£,114 7,G39 7,548 _1.h641 18,135
2]1,673 1,071,201 232ll36 305,203 84,615 131,076
12,454
10,633 },b05 3,617
2,500 7,142
Municipal vvarrants
Total earning assets
Cleve. Rich.
3,715
65
52,391
125
124,810 531110
1,464
458
64,234 51,674
543
395
24,~16
14,564 33,090
1,901
148,960
36,854
4o
6o,510 37,194 69,146 4],344 124,516 1,147,36}
947
1,152
lP
402,325 1,430,003 394,187 493.733 205,614 224,843 793.551 203,30£ 131,480 200,073 117,260 415,629 5,061,9SH"
6/
tit(;
1..
St. 3503c
Released for publication Friday morning, May 11, 1923; not earlier~
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE 'BANKS AT CLOSE OF BUSiNESS MAY 9, 1923,
LIABILITIES
(In thousands of dollars)
Federal Reserve Bank
Ca:pi t~l pro.Ct in·
Surpl1:.s
Depo sl. ·c. s ;
Gov8rYliT'ent
Memb:::r ba3:1k - rese::::-~'e
Other depo si ·e s
Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans. Cy. Dallas San Fran.
29:043 91~0+2 12,033 5,654 4,413 15.016 4,933
3,574 4,598
4,179 7.796
3.068
9,488
7,496 15,263
59,800 18,749 23,495 11;288 8,942 30,395 9,665 7,473
16~312
1,525
c::.cc.oun~
120,378
336
Total depo s:l. t.s
122,239
F.R. notes in ar...tu8-l cir..:n:..lution 205,214
F. R. Bank n0tes in circ,.ilation net liab~ 1i '-_;y
Deferred availability items
49,747
All other liabilities
745
TOTAL LIABILITIES
1,4ol 1,671 1, 715 1,286 1,711
55,464 281,919 70,962 46,510 80,620
,444
244
615
433
955
719,109 117:71.1. 169,393 61,616 57,109 284,545 73,292 48,529 82,775
566,)18 200,333 231,465 79,562 134,593 396,~ 77,206 56,153 61,253
4, 792 1,623 1,903 1,267
694;445 115, 7G3 166,347 t0,126
223
19,872
360 1,143
or:u
102,043 46,436
3,695 1,156
'
1,069
591
55,872 46,688 18,860 65,101 37,256 14,633 4o,l39
1,430
926
751
776
1,755
951 1,118
4o2,325 1,480,008 394,137 493,733 205i614 224,843 793,~ 203;30~131,480 200;073
Ratio of total reserve3 to deposit
and F. R. note liabilities
t"Ombined, per cent
· 83.0
Contingent liability on b-1.:Us
pur~hased for foreig~~
co rre sponden ts
2,479
l.ft!}
73.0
76.1
59.9
68.4
80.5
Total
109,029
218,369
22,616
1,700 2,017
49,705 143,396 1,886,455
28,599
149 3,325
51,554 149,738 1,937,670
28,127 205,414 2,241,~
?go
405
23,601 35,793
1,898 1,625
2,065
536 ,21:9.J...'L..
16,826
117,260 415,629 5,061,9~
G/
(,
71.5
76.1
58.7
1,190
2,347
33,615
FEDERAL RESERVE h'JTES OUTSTANDING JI.ND IN .ACTUAL CIRCULATION
F. R. notes outstanding
223,325 732,304 228,717 245,007 87,543 139,972 444,175 96.~15 59,003 68,927 31,136 242,742 2,599,266
F. R. notes held by banks
18,111 165,986 28,334 13,542 7~981
5,379 48,0
19,209 2,850 7,674 3,009 37~328
357,4~f?.(.
F. R. notes in ac tua1 circulation 205 ,21q, 566,318 200,383 231 ,465 79,562 134,593 396,l}.l 77,206 56,153 61,253 28 ,127 205,414 2,241 ,.g:l-9
DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF I~ EDNESS AND MUNICIPAL WARRANTS BY Nl.ATUR!TIES ?t:o
Within 15 days
16 to 30 days
31 to 60 days 61 to 90 cfa s From 91 days
Over 6 months
Total
Y
to 6 months
Bills discounted
695,017
471,516
54,385
86,544
51,337
30,590
266,992
Bills bought in open market
62,389
57,365
92,420
45,541
9,277
3.6,854
U. s. Certificates of indebtedness
403
427
1,448
Digitized~mnicipal
for FRASER warrants
4o
-4€7- L\1\
http://fraser.stlouisfed.org/
w,
Federal Reserve Bank of St. Louis
-----~---------
---
-
--
-------
'
lcl:Lsoc1 for public:J.tion FridCJ.y morning, May 11,
Federal Reserve Agent at
1923.; not earlier.
FEDERAL RESERVE
.AGENTS 1
Boston New York
Phila.
St .. 35030..
ACCOUNTS AT CLOSE OF BUSINESS, MAY
•
(In thousands of dollars)
Cleve.
Rich.
Atlanta
9, 1923 •
Chlc::tgo
St. Louis
Minn.
Ka.ns. Cy. Dallas Sc:.n Fran.
Tot 3.1.
R E S 0 U R C E S
1·
~ederal
Reserve notes on hard
92,350 313,340 48,600 31,400 26,630 77,67if 110' 500
ederal Reserve notes ~tstanding 223,325 7 32,304 223,717 245,007 37,543 139 ,97J 444,175
foll. ate~~~ se~~rity for Fader~
Reserve notes outstarding:
25,300 235,531 7,ooo 13,275
Gold nnd gold cartific :1.tes
~
2J40o
31,546 13,261 12,914 2;6so 3,830
16,988
Gold redemption fund
16,095
125,000 371,000 143,559 180,000 34,795 35,000 346,645
Geld fund - F. R. Bo~rd
Eligible pc1per .A.'llcun t r .3quir -::d
61,435
53,037
94,227 64,567 38,813 50,063 45,7 42
Excess umount h~ld
2 •. ~3~::..3.c_-:1::...3=3 I 9£.54.;.___7.w•t..::2:..-:3.:.1---t.5....:.4.~.-.4..:....l.ji:..L.9__:1:;:0~,4_.:..90c::-~9u.•..L7=.17L-_40~.tE±.§.__
TOTAL
22,163
68} 927
19,709 59,325 348,033
31,136 242,742 2,599,266
43~500
3,0~0
13,052
1, 763
32,000
3.374
40,360
6,461
314,399
1, 720
18,563 125,819
4,000 155,159 1,564,348
37) 955
12,183
25,193
26' 190
96,415
1i ,948
n,3so
59,003
13,955
69,020
594,200
4_;_.>r...;:0~5=~-=10=-<,r...;:O.J.30.::...·~-8.;::-<,._.9:_..:.5-'-9-=19.L..LC:2'-"5=2_..=?7.._._..30=.::..8-""'-3..£.<33"-'' -""5=1=-1-
163,976 101,233 572,617 6,330,076
----------------------------'------
L I An I L I T I E S
et ::unount of Federal R-::serve
notes received from Comptroller of the Currency
received from
Federal Reserve Bank:
Gold
Eligible p8per
316,175
277,517 2.76,407 116,173 217,650
554,675 122,6o5
70t95l
91,090
50,345 302,567 3,447,299
6}5,077 164,150 206, 1&9 37,475 91,2JO
233,151 71,79& 93,267 60,553 55,459
362, 74o 53,460
122,181 42,007
46,32.0
22,213
4j, 734
34,152
12,131 17 3,72.2 2,005,066
33,207 96,323 927 '711
l,05Q,G4-4
Collater~
TOTAL
c.
170,233
55,360
541,32} 1,921,902 513,465 575,363 214,206 367,339 2,039,596 223,072 139,934
163,976 101,233 572,617 6,350,076
@FedFRASER