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STATEMENT FOB THE PRESS Bel eased f o r p u b l i c a t i o n F r i d a y morning, May 22j not e a r l i e r . S t . 4532 F e d e r a l Reserve Board, May 21, 1925* CONDITION OF FEDERAL RESERVE BANKS 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 of t h e F e d e r a l r e s e r v e banks on May 20, made p u b l i c by the F e d e r a l Reserve Board, shows d e c r e a s e s , o f $21,600,000 i n holdings of Government s e c u r i t i e s , of $7,000,000 i n acceptances purchased i n open market, and of $300,000 .in discounted b i l l s . Total earning a s s e t s went down $28,000,000 t o $985,600,000, F e d e r a l r e s e r v e note c i r c u l a t i o n declined $19,700,000 and gold r e s e r v e s $18,900,000, w h i l e r e s e r v e s o t h e r t h a n gold went up $5,300,000 and n o n - r e s e r v e cash $300,000, A f u r t h e r d e c l i n e of $12,700,000 i n d i s c o u n t h o l d i n g s i s r e p o r t e d by the Federal Reserve Bank of New York. The Cleveland, bank r e p o r t s a r e d u c t i o n of $3,300,000 i n d i s c o u n t h o l d i n g s , San F r a n c i s c o of $2,200,000, and Richmond of $2,000,000, while Boston r e p o r t s an i n c r e a s e in t h i s item of $5,800,000, Chicago of $4,200,000, S t . Louis of $4,000,000 and A t l a n t a of $3,200,000. Smaller changes i n d i s c o u n t h o l d i n g s a r e shown by t h e remaining banks. The F e d e r a l Reserve Bank of New York r e p o r t s a d e c l i n e of $14,500,000 in accept a n c e s h o l d i n g s , and t h e Chicago and S t . Louis banks r e p o r t increases of $2,800,000 and $2,000,000, r e s p e c t i v e l y , in t h i s item. Acceptance h o l d i n g s of t h e o t h e r res s e r v e banks show s m a l l e r changes f o r t h e week. The System's h o l d i n g s of Treasury n o t e s went down $19,900,000 and of c e r t i f i c a t e s of indebtedness $1,900,000, w h i l e holdings of U. S. bonds increased $200,000. All Federal r e s e r v e banks show d e c l i n e s i n Federal r e s e r v e n o t e c i r c u l a t i o n , t h e p r i n c i p a l d e c r e a s e s b e i n g : Cleveland $4,900,000, P h i l a d e l p h i a $3,800,000, Boston $3,700,000, and New York $2,600,000. A summary of changes 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 r e s e r v e banks d u r i n g t h e week and the y j a r ending May 20, 1925, f o l l o w s : Increase or decrease Week Total r e s e r v e s Gold r e s e r v e s . . . . during Year - $13,600,000 - 18,900,000 - $259,409,000 - 303,500,000 - 28,000,000 300,000 400,000 100,000 + + - 190,100,000 76,200,000 11,200,000 87,400,000 B i l l s bought i n open market - 7,000,000 + 220,300,000 U. S. Government s e c u r i t i e s , t o t a l . . . Bonds . . . . . . . . . . Treasury n o t e s . C e r t i f i c a t e s of indebtedness . . . . . + - 21,600,000 200,000 19,900,000 1,900,000 + + + - 33,700,000 66,000,000 9,400,000 41,700,000 Federal Reserve n o t e s i n c i r c u l a t i o n . . . - 19,700,000 - 230,000,000 Total d e p o s i t s Members' r e s e r v e d e p o s i t s Government d e p o s i t s Other d e p o s i t s + - 23,600,000 35,800,000 13,200,000 1,000,000 + + + + 191,100,000 176,900,000 13,700,000 500,000 Total earning a s s e t s B i l l s discounted, t o t a l . . . . . . . . Secured by U.S.Government o b l i g a t i o n s O t h e r " b i l l s discounted Released f o r p u b l i c a t i o n Friday morning, May 22, 1925; not e a r l i e r . St. 4532a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( i n thousands of d o l l a r s ) May 21, 1924 May 20, 1925 May 13, 1925 RESOURCES Gold w i t h Federal r e s e r v e a g e n t s . . . . Gold redemption fund with U.S. Treasury . 1,53l,2l6 50,679 1,581,014 4-7,968 2,113,340 36,216 Gold held e x c l u s i v e l y a g a i n s t F.R.notes Gold s e t t l e m e n t fund w i t h F. R. Board . Gold and gold c e r t i f i c a t e s held by banks 1,581,895 654,157 598,569 1,628,982 6l4,266 610,267 2,149,556 2,834,621 2,853,515 3,138,166 145,974 140,721 101,819 2,980,595 2,99^,236 3,239,985 56,665 56,366 51,135 160,854 177,548 161,263 177,459 149,669 264,946 335,402 338,722 4i4,6l5 Total gold r e s e r v e s . Reserves o t h e r t h a n gold J Total r e s e r v e s Non-reserve cash . B i l l s discounted: Sec. 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 595,676 392,934 B i l l s bought in 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 indebtedness 276,026 282,986 55,692 85,529 251,108 21,745 85,377 270,988 23,612 19,522 24i,688 63,431 Total U. S. Government s e c u r i t i e s Foreign loans cm gold All other e a r n i n g a s s e t s 358,382 10,500 2,250 379>977 10,500 1,400 324,641 985,560 1,013,585 795,499 674,761 59,701 23,199 690,032 59,498 23,221 28 598,587 56,679 24,568 4,780,481 4,836,938 4,766,481 1,656,474 1,676,204 1,886,429 322 2,118,163 32,732 25,527 2,153,999 19,532 26,499 l,9^1,285 19,053 24,996 2,176,422 2,200,030 1,985,334 601,151 115,448 217,837 13,149 6l4,531 115,270 217,837 13,066 547,313 111,378 4,780,481 4,836,938 4,766,481 Total earning a s s e t s 5# Redemption fund - F. R. Bank n o t e s . Uncollected items Bank premises All other r e s o u r c e s . TOTAL RESOURCES 551 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 in c i r c u l a t i o n - net . Deposits: Member bank - r e s e r v e account . . . . Government Other d e p o s i t s . . * . . Total d e p o s i t s Deferred availability it6ms C a p i t a l paid in . . Surplus All ether l i a b i l i t i e s TOTAL LIABILITIES . . . . . » . 220,915 14,790 Ratio of t o t a l r e s e r v e s to d e p o s i t and F. B. n o t e l i a b i l i t i e s combined . . . 77«8% 77*20 83.7# Contingent 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 39,007 42,828 39,910 C# Released for p u b l i c a t i o n Friday morning, May 22, 1925; not e a r l i e r . St. 4532b RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, MAY 20, 1925. RESOURCES ( i n thousands of d o l l a r s ) Federal Reserve Bank of Boston New York P h i l a . Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran# Total Sold with Federal Reserve Agents 195,109 356,321 134,509 171,303 39,001 120,895 135,456 24,520 54 081 52 834 35,649 211,538 1,531,216 Gold redemption fund with U.S.Treas. 8,508 6,345 9,915 3,035 4,873 1,764 3,022 5,801 700 3 ^02 2,078 1,136 50,679 Gold held exclusively against P. R. notes 203,617 362,666 144,424 174,338 43,874 122,659 138,478 30,321 54,781 56,336 Gold settlement fund with F.R.Board Gold and gold c e r t i f . held by banks Total gold reserves Reserves other than gold Total reserves Hon-reserve cash B i l l s discounted: Secured by U.S.Govt, obligations Other b i l l s discounted Total b i l l s discounted B i l l s bought in open market U» S. Government s e c u r i t i e s : B ond s Treasury notes C e r t i f i c a t e s cf indebtedness Total U.S.Govt, s e c u r i t i e s Foreign loans en geld All ether earning a s s e t s Total earning a s s e t s Unccllacted iterns Bank premises All ether resources TOTAL RESOURCES 37,727 212,674 1,581,895 12,434 33,205 654,157 7,895 23,439 598,569 58,056 274,318 2,834,621 10,320 6,147 145,974 68,376 280,465 2,980,,595 2,494 56,665 3,173 254 12,551 1 6 0 , 8 5 4 4,297 17,220 177,548 4,551 338,402 29,771 8,377 1 6 , 6 3 2 276,026 44,808 231,684 50,57 6 82,329 13,615 15,197 108,772 16,010 17,639 27,588 20,306 337,242 21,412 36,541 21,409 4,922 101,704 8,151 7,192 3,356 263,731 931,592 216,712 293,208 78,895 142,778 348,954 54,482 79,612 87,280 13,813 3^,727 6,874 8 , 5 9 2 5,041 1 6 , 2 0 3 17,937 20,421 1,733 4,166 232,544 9 6 6 , 3 1 9 2 2 3 , 5 8 6 3 0 1 , 8 0 0 83,939 1 5 8 , 9 8 1 3 6 6 , 8 9 1 7 4 , 9 0 3 81,345 9 1 , 4 4 6 6,958 16,251 1 , 9 2 0 3 , 3 4 2 3 , 8 4 4 4 , 4 5 4 6 , 6 5 0 4 , 1 3 2 1 , 1 3 6 2 , 3 1 1 12,CSl 40,796 22,961 23,470 1 3 , 3 6 7 3,944 23,420 4,942 696 1,572 16,782 18,985 11,773 13,022 3 2 , 6 3 1 18,753 18,937 1 3 , 6 4 6 5,537 5,965 29,663 59,781 34,734 36,492 45,998 22,697 42,357 18,588 6,233 7,537 28,071 75,080 24,662 23,861 10,488 10,981 39,802 11,311 11,310 15,451 1,262 904 10,003 1 , 6 6 8 . 2 , 6 7 9 20,433 3,754 8,736 12,156 9,858 4,282 9,794 85,529 68,884 19,135 16,168 3,548 8,807 21,506 22r295 8,403 2 2 , 0 7 2 13,620 34,867 2 5 1 , 1 0 S 6,803 3,183 106 5,494 1,495 83 1,114 1,384 591 207. 2,364 21,745 457 5,267 11,248 80,173 20,145 31,665 5,299 12,600 43,323 26,640 17,346 36,592 28,935 44,416 358,382 2,335 777 976 1,124 430 1,449 483 557 420 346 10,500 368 735 . 2,250 2,250 69,759 217,869 82,767 93,142 62,342 46,708 126,931 57,022 35,235 60,000 4 2 , 2 3 1 91,554 985,560 5M64 179,533 62,774 6 1 , 0 1 0 54,817 3 3 , 1 s 8 6 , 2 1 6 34,4i4 13,130 35,837 23,544 36,449 674,761 k 4,190 16,709 1, 3,276 59,701 6 60 400 7,081 !;s|2 5:88 % 4,788 23,199 422,375 1,398,762 372,569 467,146 208,051 248,880 5 9 6 , 2 0 0 175,154 136,971 194,559 l40,!09 4 1 9 , 7 0 5 4,780,481 I'M -m m Bel eased f o r ' p u b l i c a t i o n F r i d a y morning; May 22, 1925 > n d T e a r l f err- S t . 4532c RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, MAY 20, 1925. L I A B I L I T I E S ( i n thousands of d o l l a r s ) F e d e r a l Reserve Bank of 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 Deposits: Member bank - r e s e r v e account Government Other d e p o s i t s Total d e p o s i t s Deferred a v a i l a b i l i t y items C a p i t a l 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 p o 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 Contingent 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 correspond e n t s Boston New York Phila. Cleve. Rich. A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. D a l l a s San Fran. Total 201,901 331,457 150,040196,103 7 1 , 5 4 7 138,272 158,93 6 46,833 61,754 62,951 4 i , 7 2 8 194,952 1,656,474 134,873 1,657 529 816,072 5,223 15,166 131,088 173,888 2,565 4,064 433 1,232 64,243 1,746 167 67,583 311,008 2,932 1,042 1,454 163 75,417 3,874 773 50,182 1,110 55,981 155,270 2,118,163 232 82,553 2,822 460 137,059 836,461 134,086 179,184 66,161 80,064 51,524 85,835 58,745 163,121 2,176,422 57,980 8,478 16,382 575 137,087 31,526 58,749 3,482 70,678 313,504 25,665 76,028 4,609 15,544 8,950 30,426 706 1,762 32,667 11,935 3,246 7,497 1,015 31,953 4,344 8,977 27,104 **244 7,592 3 7,038 8,177 15,071 499 696 1,346 422,375 1,398,762 83.4 2,9£8 82.7 10,123 56,640 55,230 51,824 11,216 20,059 12,968 22,462 5,992 11,701 528 1,199 826 5,104 9,971 515 2,607 157 3,090 4,761 32,732 25,527 601,151 115,448 217,837 13,149 372,569 467,146 208,051 248,880 596,200 175,154 136,971 194,559 140,109 419,705 4 , 7 8 0 , 4 8 1 78.7 3,680 80.4 4,233 61.O 2,097 76.1 1,622 77.7 5,460 59.0 1,820 71.8 1,306 61.5 1,583 &8.1 1,385 78.3 2,770 77.8 39,007 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 52,434 64,786 71,228 9,799 5,601 3,032 8,277 46,890 232,682 1,985,011 5,162 37,730 328,537 71,547 138,272 158,936 46,833 61,754 62,951 41,728 194,952 1,656,474 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 held, by banks 242,646 40,745 460,433 128,976 F. R. n o t e s in a c t u a l c i r c u l a t i o n 201,901 331,457 1 5 0 , 0 4 0 B i l l s discounted B i l l s bought in open market C e r t i f i c a t e s of indebtedness DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES From y91i oays days Within 15 days l 6 t o 30 days 31 t o 60 days 6l t o 90 days ifrom Over 6 months to 6 months 2,688 22,131 23,074 226,029 25,151 39,329 4,203 38,381 63 , 360 109,929 60,153 6,307 15,361 77 188,936 217,615 38,896 21,512 196,103 87,725 150,901 168,735 16,178 12,629 Total 338,402 276,026 21,745 Released f o r p u b l i c a t i o n Friday morning, May 22, 1925; not e a r l i e r . S t . 4532d. FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, MAY 20, 1925. (In thousands of d o l l a r s ) Federal Reserve Agent a t Boston RESOURCES Federal Reserve n o t e s on hand. 67,350 F e d e r a l Reserve n c t e e o u t s t a n d i n g 242,646 Collateral security f o r Federal New York Phila. Cleve. 314,940 39,800 4l,S00 460,433 188,936 217,615 Rich. A t l a n t a Chicago S t . L o u i s 22,575 68,274 267,307 87,725 150,901 168,735 /> 25,160 52,434 Minn. Kans.Cy. D a l l a s San Fran. Total f3 24,256 64,786 27,723 71,228 olo'ceo i 46,890 232,682 1,985,011 1ISPE"" IE ill is is a iil ui# IS SS « SI "Si Sru "S *-S . - > -..-1. 1:iS % I. "-a /-r-T -7-,^ r, TOTAL t f n \. rtf « ":?» &S i -7I1 C 1 C T i f f CftC K Cl A(Vl R HQO AOO IF 1. > L I A B I L I T I E S V Net amount of Federal Reserve not 33 received from Comptroller of 309,996 th§ Currency 775,373 225,736 2 5 9 , 4 1 5 1 1 0 , 3 0 0 2 1 9 , 1 7 5 4 3 6 , 0 4 2 77, ^94 89,042 98,951 70,062 305,522 2,980,^08 C o l l a t e r a l received from Federal r e s e r v e bank: Gold EL i g i b l e paper 356,321 134,509 171,303 1 0 9 , 0 0 7 55,179 58,335 24,520 28,578 54,081 17,363 52,834 22,790 35,649 211,538 1,531,216 12,885 45,940 579,198 TOTAL 195,109 57,734 39,001 120,895 135,456 55,667 32,989 81,£81 562,839 1,240,701 416,424 459,603 204,96c 373,059 653,379 130*992 160,486 174,575 118,596 563,000 5,090,^22 J - J — /
@FedFRASER