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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