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STATEMENT FOR THE BRESS
51;. l.J1"16()
Federal Reserve J..)oar·u 1 ·
May 15, 1924.
Released for publication
Friday morning, May 16;
not earlier.
CONDITION OF FEDERAL RESERVE E.ANKS
The consolidated statement of condition of Federal reserve banks on May 14, ~e
public by the Federal Reserve Board, shows a further reducticn of $2~,200,000 ~n
earning assets, decreases of $29, 100;000 in holdings of discounted b1lls and o:o:
$11,900,000 in acceptances purchased in open ma.rket being partly offset. by an ~n
crease of $12,300,000 in Government securities. Federal reserve note c1rculat1on
decreased by $15,200,000, while cash reserves increased by $9,200,000 and total deposits by $bOO,OOO.
The Federal Res?:rve Bank of Chica.~;o sh01hiS a decrease of ~'14,200, 000 in its
holdings of discounted bills, while L1e New York Bank reports a decline of
~11, 200,000 as compared with an increase of a9, 100, COO for the preceding week.
The
remaining banks show relatively small changes in their holdings of discounted oills.
Holdings of paper secured by U. S. Government obligations declined by $12,000,o::.o
to $155,500,000. Of this ~nount, ~108, 700,000 was secured by Liberty and other U.S.
bonds, t4},600,000 by Treasury notes, and (:3,200,000 by certificates of indebtedneas.
Holdings of acceptances purchased in open market declined by $11,900,000 during
the week, all Federal reserve banks s:~owing smaller holdings except Boston, Philadelp:lia and Richmond, w:1ich report a total increase of tl,lOO,OCO. Governmer!t security holdings increased by ~~12,300,000 durins the week, of which $9,60o,ooc was in
Treasury notes and f2,600, 000 in certificates of indebtedness.
A decline of ~6,200,000 in Federal reserve note circulation is reported by t~e
Federal Reserve Bank of Dallas, and of 24,500,000 bw the Chicago bank. Of the reIr'.aining banks all report small decreases, except Philadelphia, Cleveland and Minneapolis which show a ccmbined increase of ~~2, 200,C:GO. Gold Reserves increased by
ts, 900,000 during the week, the Federal Reserve Banl-: of Chicago showing an increase
of j16, 700,000 and Minneapolis a decrease of t4,6oo,ooo. Reserves other than gold
increased by ~300,000, and Non-reserve cash by $1,00C,OOO.
A summary of changes in t~e ~rincipal assets and liabilities of the reserve
banks during the week and the year ending May 14, 1921+, follows:
Increase or decrease during
Year
...
....
Total reserves • • .
Gold reserves • • • .
Total earning assets • • •
. , • . .
Bills discounted, total
.••..
Secured. by U. S. Government cbligatlons
Other bills discounted • • • • •
..
Bills bought in open market
U. S. Government securities, total ••
Bond..s • • • • • .. • .. • • • ,. • • •
Treasury notes • • • • • • • . •
Certificates of indebtednass • • • .
Federal Reserve notes in circulation
Total deposits • • • • . • ••
Members' reserve deposits • • • • •
Government deposits • • .
Other deposits • • . . • •
.
c.
..
...
..
...
. . .. .. ..
.
.
+ $9,200,000
+ c ,900,000
c,r·o , C::V\.,~
- .. ,,.,...1 \.J.,.~
~.--,o
+ -..JO
+ so,6cc, .::.<X.J
- 23,2CO,OOO
- C::9, lOO,OCO
- c:c::: b , c.
- 12,0JC:,OOO
- 201+, 700,000
- 17,100,000
81,500,000
- 11,900,000
- 206, 20C, 000
+ 12,300,0CO
+
lOC,OCO
+ 9, 6oo,ooo
+ 2,6cc, :)00
+ 134,300,':00
-
15,200,::~
+
6oo,oc:c
- 13,90C,OOO
+ 12,000,000
+ 2,500,000
- 35 7, 6oo, coo
.. r. ....
·-~cl'"')
r\""'.-
'· ' .. .)•_.
3, 70C,OOO
+ 11 7' 200' 000
+ 25,cOO,OOO
321' 100' 00(;
+ 1,200,0CO
31,700,000
25,700,000
4,800,000
•
morning~ May 16, 1924.
RESOURCES AND LI!~ILITIES
St. 406oa.
Released for publication Friday
OF THE Tr~LVE FEDERAL RESERVE BANKS COMBINED
(In thousands of dollars)
May
RESOURCES
Gold with 1ederal reserve agents • . . •
Gold redemption fund with U.S.Treasu~y •
Gold held exclusively §lgainst F.R. notes
Gold settlement fund with F.R. Board • .
Gold and gold certificates held by banks
Total_ggld reserves • • • . . . . .
Reserves other than gold • . • •
Total reserves
Non-reserve cash . . . . •
Bills discounted:
Sec. by U. S. Government obligat icns •
Other bills dis counted • .
Total bills discounted
Bills bought in open market
U. S. Government securities:
14, 1924 _May 7. 1924
2,135,212
35,911
2,171,123
576,914
388,439
3,136,476
- 102~10
3. 241,286
52,177
155,536
255.645
411,181
75,361
May
16, 1923
39,755
2,150,531
6o1, 766
377,309
3,129, 6o6
102,502
3,232,108
51,243
1, 999,818
5 7,317
2,057,135
686,707
344,043
3,087,885
_ _::9;.:..3' 166
3,181,051
66,642
167,556
272,729
360,2)0
337 t 131
440,285
87,287
' 697,331
281,609
27,125
*•124, 538
37,226
188,689
2, 110,776
Treasury notes • • . • . . • • • • . .
Certificates of indebtednclSS • • • . •
16,463
241,721
62,930
Total U. S. Government securities
323,164
13 t 353
232,C91
&:>, 438
310,882
_551
610,25 7
28
673,130
56,68 7
___?+,813
4, 856.378
51
838,505
28
566,511
56,540
23,730
4, 768,665
40
1,167,869
191
734,416
50,484
14,057
5,214, 710
.•••
net . •
1,911, 875
1,927,027
338
2,232,999
1,878
• .
•
1, 9 39,596
30,375
24,961
1,994,934
6o4,329
111,369
220,915
14,624
1,953, 532
18,381
22,439
1,994, 352
500,211
111,231
220,915
14,591
1,907,893
56,057
29,741
4,858,378
4,768,665
5,214,710
Bmd s • • • • • • • • • . •
All other earning assets • • . • . .
.
Total earning assets • • . . . •
5% Redempticn fund - F. R. Bank notes
Uncollected items • . • , • . • • • ,
Bank premises • • • . . • . •
All other resources • • • .
TOTAL RESOURCES •
L I AE I L I T I E S
F.R. notes in actual circulaticn
F,R. Bank notes in circulationDeposits:
~·!ember bank - rese:rve account
Government . • . . • . • • • .
Other deposits . . • . . . .
Total deposits • • • • •
Deferred •vai1ability items • . • •
Capital paid in • . . • • • •
Surplus . , . . .
. . . . . .
All other liabilities
••••
TOTAL LIABIUTIES
3)2
1,993,691
641,510
109,273
218,369
16,990
Ratio of total reserves to deposit and
F. R. note liabilities combined
75-3%
Contingent liability on bills purchased
for foreign correspondents • • • • • •
21, 33e
*
c.
Including Victory notes.
·..~
1
M~
Released for publication Friday morning,
.
St. 40tcb.
16, 1924; not earlier.
RESOURCES Al~TD LIABILITIES OF THE FEDERAL RESERVE B.ANKS A.S AT CLOSE OF BtJf,INESS, MAY 14, '1924 .
.
.
RESOURCES
(In thousands of dollars)
Boston New York Phi1a. Cleve.
Rich. Atlanta Chicago St. Lcuis Minn. Kans.Cy. Dallas San Fran. Total
Federal Reserve Bank of
205,444 635,527 189,834 202,419 37,558 117,670 300,123 6},685 bl,515 58,533 40,419 222,485 2,135,212
Gold with Federal Reserve Agents
Gold redemption fund with U.S.Treas. ~31
22.~
2z69o 2,261 2,668 21 280 2,114 3.485 2,426 _L_5_~2_.£..._267 1,3!15 j,Qlb
Gold held exclusive1~ against
L..__B, notes
210,375 639,217 195,101 205,087 40,138 119,784 303,60B 66, 111 63,037 60,800 41,764 226,101 2,171,123
Gold sett lament fund with F. R.Board 54,998 152,713 35,592 88,713 33,445 17,440 ~l,66o 22,12l 6,~3 30,886
~,245 33,312
578,~14
Gold and gold certif. held by banks 18,780 183.844 35.021 12.264 6, '580
,862 1.~ 9. 5 _3~33
.7~~756 -~~
1,349
Total gold reserves
284,153 975,774 265~ 744 306.o64 80,163 1441573 468,130 95,874 79,505 95,519 53,808 2S9 t 169 3, 1}E) I 476
102,810
4,071
6,52E
11,528
23,994 2,832 5,984 5,030 10,720 12,526 14,078 1,321 4,198
Reserves other than gold
Total reserves
Non• reserve cash
Bills discounted:
Sec. by U. S. Govt. obligations
Other bills discounted
Total bills discounte~
:Sills boiight in open market
U. S. Government securities:
Boros
Treasury notes
Certificates of indebtedness
Total U. S. Govt. securities
All other earning assets
Total earning assets
5~
295,681
3,922
999, 7€£ 2&,576 312,048 85,193 155,293 480,656 109,952 80,826 99,717 60,336 293,240 3,241,286
52,177
3,·124 31664 3,436
12,243 1, 733
2, 718
4, 744 8,075 3,972 11018
3,528
8,932
7,04o
tn,6o8
14,138
15,972
55,746
7,997
8,415
24)441 15,515
18' 471 42,004
31.832 42,912 57.519
51389 10,374 1,165
21,464
10,368
542
20,016
5,197
1,202
549
54,695 251547
16,742 2,420
916
28,766
7,975
25,755
72,639
28,516
37,657
'+9' 724
136,soo
1,191
21962
972
5,125
551
66,288 90,943 63,809
4.901 14,455
31,301 36,553
36,202 51,008
6,963 2,422 2,439
17,086 14,477 22,229
24,049 16,899- 24,668
2,920
3,093
51
4,426
7,317
34,726 5,136 10.269
10,170 __!_t830 4,273
483
14,955
4,4o5
51
49,322
5.930
14,771
3,'+18
6,966
21,859
c.
13,429
4o,945
155,536
255,645
411,181
3,96o
7.929
75,361
6
1, 780
171033 27,616
5,640
3,356
19,843 22,1~ 33,262
18,463
241,721
62,980_
323,164
551
421183 115,101 ':•}4,4 33 411678
-
.
47,604
Redemption fUnd. - F.R.Bank notes
Uncollected items
162,740 631539 66,155 55,)02 27,061 84,249 ·37, 200 12,439 35,772
631087
Bank premises
4,312
8,264
14,6~
1,11g 9,117 2,528
2,ll8
2,6j9
1,8~
4,565
91
5,7
342
1 1
All other resources
33
335
1, 93
435
5,8 7 1,0 7
TOTAL RESOURCES
416,817 1,331,98b 401,588 482,126 209,892 233,692 696,780 187,596 144,497 191,879
1,247 11 t 149
12,182 29,796
"""~·'"'
39,558 82,136 810,257
28
215
24,339 41,247 673.130
56,687
1,612 2,834
24,813
4,098
4, 95
134,532 426,991 4,858,378
f;':t . 4()b0 c.
for publication Friday morning, Muy 16, 1924i not earlier.
RESOURCES AND LIABILITIES OF 'l'HE FEDERAL FESERVE BANKS AT CLOSE OF BU5!NESS, :•lAY 14, 1924.
LIABILITIES
(In thcusanCis of d cllars)
Rich. Atlanta Chicago St, Louis Minn. Kans.Cy. Dallas San Fran. Total
Boston New York Phila. Cleve.
•ederal Reserve Bank of
347,312 192,830 221,147 76,226 140,233 280,327 65,331 71,694 62.,772 44,167 206,657 1,911,875
203,179
r.R. notes in actual circulation
332
332
r.R. Bank notes in circulation - net
Deposits:
740,260 114,888 161,800 61,899 56,561 288,680 69,283 46,515 76,E20 49,072 147,976 1,939,598
125,844
Member bank - reserve account
1,451
30,375
2, 201
2, 755
1, 6e1
1, 317
2,421
5,033
2,315
4,058
2, 582. 2,561
1,995
Gcwernnent
24,961
181
4,663
.
31£
104
1,439
302
125
749
14,982
1,093
751
254
Other deposits
759,300 118,221 165,454 64,424 59,001 295.157 11,713 46,150 79,323 50,704 155.394 1,994.934
128,093
IJ.'otal deposits
6o, 791 133, 3a> 59,175 57,933 50,672 19.390 74,115 34, f£5 12,446 35, 1J5 25,910 40,151 604,329
Deferl"ed. availability i terns
s,ooo
111,369
4,171
4,432
3,434
5,075
5,842 4,564 15,169
29.939 10,199 12,569
7-.975
Capital paid in
220,915
15,301
7,4S4
9,496
7,577
10,072
30,426
11,672
8,950
16,390
59.929 19,927 23,691
Surplus
1,488
14,624
1,671
721
1,289
1,586
1,056
1,554
720
636
2,182
1,332
389
All otr~r liabilities
416,al7 1.331,9~ 401,583 482,126 209,892 233.692 f$6,780 187 ,59b 144,497 191,8 79 134,532 426,991 4,858' 378
TOTAL LIABILITIES
Ratio of total reserves to deposit
and F. R. note liabilities
combined, per cent
Contin·:·ent liability on ~ills
purchased for foreign
correspondents
69·3
90·3
7,529
86.3
2,494
80.7
3,009
60.6
1,466
77 ·9
1,132
83·5
3,832
80.2
1,26o
67.4
926
70.2
1,183
b3.6
977
81 .. 0
83.0
1,955
FEDERAL RESERVE NOTES OUTSTANDING .AND IN ACTUAL CIRCULATION
b49. C95 220,881 242, 146 85,837 152,548 305,339 18,645 78 ,"{66 75,857 5&,371 249,689 2, 419,055
9,611 12,315 25,012 13,514_____h072 13,085 12,204 43,032
507, JZO
203,179
347,312 192,s3o 221,147 76,226 140,233 280,327 65,331 71,694 &2,172 44,167 ao6,657 1,911,875
DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF INDEBTEDN!l:SS AND MJNIC!PAJ, V1ARRANTS BY MATURITIES
Within 15 davs
1b to 30 days 31 to 60 days
61 to 90 da;ys
Fro~ 91 days
Over b mcnths
Total
to o mcnths
4ll ,181
34,026
67,281
43,632
75,361
267
13,465
22,003
62,980
48,790
13,247
51
51
223,461
•· R. notes outstanding
F. B. notes held. by banks
F. R. notes in actual c ircu1at icn
____gQ, 302 301,983 28,051 20,999
Bills d.iscounted
Bills bou~bt in open market
U. S. Certificates of indebtedness
MUnicipal warrants
. c.
--
---~-
---
-·---
St. 4060d.
Raleased for publication Friday morning, May 16, 1924; not earlier.
FEDERAL RESERVE AGENTS 1 ACCOUNTS AT CJ,OSE OF BUSINESS, MAY 14, 1924.
(In thousands of dollars)
Federal Reserve Agent at
RESOURCES
Federal Reserve notes on hand
Federal ReservG notes out stand ing;r'
Collateral security for Federal
Reserve notes outstanding:
Gold and gold certificates
Geld redemption fund
Gold fund - F. R. Board
Eligi~le paper Amount required
Excess amount held
TOTAL
Boston
New York
Phil a.
Cleve.
Kans,Cy. Dallas San Fran.
Total
28,693
75,857
939,047
19,177 17,960
56,371 249,689 2,419,055
2,400
b,270
b '4 7£
34,295 109 ,O(X) 29 3 I 645
9,985
3,200
50, 5Cv
13,052
1,463
4 7 ,ooo
3,17 3
55,360
335,864
13,816
112,704
3,Wj 17' 530
23,000 204,955 1,686,644
39,727 48,279 34,878
5,216
13,~__&=--..!. .•8.::_:1:.::5::___-=--6.!. .,4.:_4.:.::8:___ 60,010
15,160
10,321
17,251
2,131
1?,324
1o,oc6
15,952
1,264
35,300
12,144
153,000
14,000
8, 780
238,531
301 99b 10,945 13,639
jbb,OOO 164,&89 180,0:>0
31,047
2,103
Minn.
18,820
7&,766
255,060 49,76o 40,185
649,295 220,881 242,146
13,763
44,cl7
Atlanta Chicago St.Louis
39, 66o 74,902 202,480 26,100
85,837 152,543 305,339 78,845
106,250
223,481
18,037
5,932
Rich.
3,26)
27,204
19,999
23},843
I85,41Q
559,144 1,598,46_7 493,b30 538,036 220,11-~9 3£6,446 873,163 194,111 178,433 190,413 133,183 597,337 5,962,567
L I AB I L I T I E S
Net amount of Federal R.;serve notes
received from Comptroller
of the Currency
329,731
904,355 270,641 282,331 125,497 227,450 507,El9 104,945 97,586 104,550
75,548 327,649 3,353,102
Collateral received from
Federal reserve bank:
Gold
Eligible paper
635,527 189,834 202,419
5£,585 33,155 ]},28~
40,419 222,435 2,135,212
17,216 47,203
469,253
'POTATJ
c.
.•
205,444
23,969
37,558 117,670 300,123
57,094 41,326 65,226
63,635
25,481
61,515
19,3e2
58,533
27,330
559,144 1,598,467 493,630 533,036 220,149 386,446 873,168 194,111 178,483 190,413 133,183 597.337 5,962,56,7
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