The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
STA'fEl,1ENT FOR THE PRESS
Released for publication
Friday morning 1 May 4;
not earlier.
St.3492,
Fed.eral Reserve Board.
May 3, 1923,
CONDITION OF FEDERAL RESERVE BANKS
Inc.reases of $93,700,000 in discounted bills and of $1,400 1000 in acceptances
pur~h~sed in open market, as against a reduction of $9,000 1 000 in Government se-
cuntles., are shovvn in the Federal Reserve Boardt s weekly consolidated bank statement issued as at close of business on May 2, 1923,
Deposit liabilities increased
by $75,300.,000, and Federal reserve note circulation - by $14,900,000, while cash
reserves show a reduction of $4,700,000. In consequance of these changes the reserve ratio declined from 77 to 75• 2 per cent.
All Federal reserve banks, except those of Cleveland, Richmond and San Francisco, show larger holdings of discounted bills than the week before, the New York
bank reporti:rl/!, an increase of $57 ,4oo,ooo in its ..discount portfolio. Substantial
increases under the same head are also shown by the Chicago and Boston banks.
Liquidation of Government securities was limited to U:. S. bonds and notes; the
New York bank repo:r:tir.g a reduction of $7 ,soo,ooo of this item.
Gold reserves show a decline of about $4,ooo,ooo for the week. The gold
movement, largely thl"ough the settlement fund, was away from Boston, w.nich reported
a decrease in its gold reserves for the week of $10 1 000,000, and from .<\tlanta,
where a decrease of about $4,ooo,ooo took place. Smaller decreases in gold reserves totaling $9,300,000 are shown for Cleveland, Kansas City, Chicago, St. Louis
and Minneapolis. The largest increase in gold reserves, amounting to $9,500,000,
is reported by the San Francisco bank, Richmond shows an increase of $l+,6oo,ooo,
and the remaining three banks - an aggregate increase of $5,200,000,
Holdings of paper secured by Government obligations increased during the week
from $339,900,000 to $362,600,000. Of the total held on May 2, $2o6,ooo,ooo, or
56~3 per cent, were secured by United States bonds, $2,900,000, or 0.8 ,per cent,
by Victory notes, $142,800,000,. or 39.4 per cent, by Treasury notes, ~nd $10,900,000,
or 3 per cent, by Treasury certificates, coll!Pared with $137,500,000, 4>3,000,000,
$139,700,000 and $9 1 700,000 reported the week before.
A summary of changes in the principal assets and lio.bilit ies of tha reserve
banks, as COII!Pared with a week and a year ago, follows:
.. .. . . . - . . . . .
Total earning assets •. • , • • , • , • . • • .
Discounted bills, total • • . • • . • . . ,
Total reserves. • • • • •
Gold reserves • • • • .
•
f
•
•
Secured by U•. S. Government obligations • •
Other bills discounted • • . . • • , . • • • •
t
....
'
.•
...
•
. ..
•. t
United States securities, total , . • • • • • •
Bonds and notes • • , . . • • • • • • , • •
U. S. Certificates of indebtedness
•.•••
Total deposits • • • , . • •
• •
Members 1 reserve deposits • • • . • •
Government deposits ••. , , • ,
Other deposits
, •.••••.
...
. . ..
•
•
"
•
t
•
..
Federal Reserve notes in circulation • • • • •
F. R. Bank notes in circul.at ion - ·
net liability • • • • .• • , ·• • •
• •
4.7
4.0
·•.
•
'
Purchased bills
Increase
or
Decrease
In millions of dollars
since
Apr. ~..J9.gl
.!.:!Ma::::.~Y:.-.L3t~--.:19.4.!2=2
+
+
55.6
85.8
+
+
+
+
86.1
93· 7
22,7
71.0
35.3
+ 221.0
+ 172.2
43.8
+
+
1.4
+ 163.2
9·0
9·0
-·
424.4
117.4
307.0
+ 75.3
+ 40.7
+ 14.4
+ 20,2
+ 91.5
+ 119.8
-
23·3
5.0
+ 14.9
+
64.1
-··
75·1
Released for publication Friday morning, May
F~SOURCES
4,
19~3; not ~arlier.
St. 3492a.
AND LIABILITIES
OF THE TVELVE F'EDEHAL RESERVE B.Alfi..S COMBINED
(In thousands of d.ollars)
RESOURCES
1923 Apr. 25,1923 May 3, 1922
323,822
326,381
3171 7l.io
Gold and gold certificates • . , , . .
695,630
441,261
2lli5.2!±
Gold settlement fund - F. R. Board ••
1,019,452
767,642
1,011,304
Total gold held by banks , • •
2,007,555
2,169,736
Gold with Federal Reserve Agents
2,005,998
57,562
57,398
Gold redemption fund ,
63.277
2,994,776
3,084,569
Total gold reserve~ .
3,080,579
124,041
94,473
Reserves other than gold , , .
93,809.
.
Total reserves
. .. 3,174,388 3,179,042 3,118,817
70,691
Non-reserve cash , • • • •
61,642
*
May 2,
..
...
..
....
..
.
. .
Bills discounted:
Sec. by U.S. GovarmJdnt obligations
Other bills discounted , , ,
Bills bought in open market , .
..
190,474
318,902
107,278
616,654
265,483
343,736
339,380
296,717
274,041
910,638
157,030
36,780
41
1,104,489
49,945
1,225,873
39,809
191
622,644
14,065
5,041,067
7,6o4
516,586
19,978
4,928,667
108,822
218,369
108,357
218,369
104,531
215,398
49,083
,894,651
40,114
'
Total deposits
1,983,848
F. R, notes in actual circulation • • • . 2,237,505
34,692
1,853 ,935
19,916
l ,908, 543
2,222,583
72,422
1,774,802
45,108
1,892,332
2,173,436
2,299
;64, 788
15,972
5,131,603
2,287
564,398
16,025
5,041,067
77,411
444,775
20,734
--4,928,667
.362,633
367,707
275,429
Total bills on hand • . .
1,005,769
'
U. S, bonds and notes • , • • , • • . .
147,993
U. S, Certificates of indebtedness:
36,779
Municipal warrants • , ,
• • •
4o
. . . . 1,190,581
Total earning assats , • • .
Bank premises •• , • , , ,
50,059
5% Redemption fund against
F. R, Bank not e s , •
, • , •
191
Uncollected i terns
• • • • , • .
64o,543
.
...
.. ..
. . ..
. . . ____!~
All other resources , .
'IOTAL RESOURCES
,
....
. . 5,131,603
L I AB I L I T I E S
Capital paid in. , ••
Surplus •• ,
,
'
Deposits:
Goverment
Member bank - reserve account
Other deposits • . , . . , ,
. . .. .. ..
.
...
F, R, Bank notes in circulation net liability • . , • • • •
. • .
Deferred availability items • • • . • . •
All o thar liabili tias • • , • • . , •
TOTAL LIABILITIES . • . , , •
l
Ratio of total reserves to deposit and
F. R. note liabilities combined
77.0%
Contingent liability on bills purchased
for foreign correspondents • . , . •
33,085
*Not shown separately prior to January
c
1923,
76, 7C:';o
~
G;?--
Released for pub-lication Friday morning May 3, 1923; not earlier.
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSHJESS, M.:'.Y 2, 1923.
(In thousands of dollars)
RESOURCES
Atlanta Chica~o St.Louis Minn. Kans.Cy. Dallas S211 Fran.
Boston New York Phil a. Cleve. Rich.
Federal Reserve Earll;: of
Gold and gold certificates
Gold settle~ent fund - F. R. Board
17 ~464
_!}0,011
Total gold held by banks
Go1d wiL, F. R• .A,;ents
Cold rederrption fund
7~.475
17 520
_2,_535
Total gold reserves
Reserves other than G: old
Total res:::rves
Non-reserve cash
Bills discounted:
Secured by U.S. Govt. obli~ations
Other bills discounted
Bills bought in open market
Total bills on hand
U. S. bonds and notes
I
·u.
.
S. Certificates of indebtedness
J
255,580
8,<)22
264,502
12,255
· 3a:.:ik premises
5·~ Redemption fund a;ainst
F. R. Bank notes
Uncollected items
All other resources
TOTAL RESOURCES
25,574 23,223 4,310 46,724
21,130 35,476 24,184 54,578
43,422 2,1£9 ~~35,017
90,206 6o,3£3 62,962 136,319
12,344 1,341
7,056
551
5,491
7 18,616
18,466
26,221
21,911
66,593
5,401
169
1}6,456 41,799
75,118 17,733
54.212 2:2,6}4
265,947 33,171
3.391 24,348
346
34s
40
72,163
269,686 107,907 103,041 62,224
l,funic ipal warrants
Total earning assets
150,280 24,064 12,754 7,351 5,843 53,744 3.423 7.973 3,083
2861122 :24,9~2 10t422 }0.84~ 19.}64 83.9~4 1}.444 16.4£5 20.211
436,409 59.,046 83,206 3S,o94 25,207 142,(33 16,87 2 24, 44E 33,654
o38,239 1b3,306 205,470 33,)14 92,556 355,475 60, Ot:b 47,702 44,}25
-{ 1 vJ1
},]63 21499 20.919 3.112 1,'119 2.£22
5~ 4s111
1,031,649 227,843 293,447 31,376 120,262 519,135 80,7 33 74,069 80,734
1~,046
2.922 6,914 1,661 3.534 1},242 11,911 1,044 2,632
1,094,695 231,770 300,361 89,037 128,346 532,477 98,650 75.113 84,366
4,844 2,284 6,420 6,928 4,513 1,590 3,002
7,836 },237
4,434
11,695
712
8,284
2,617
14,783
17;682
12,636
45,151
14,837
3,257
6,125 12,624
17,689 21,136
6ol
24,415 3},310
14,565 33,111
20 2,501
63,520 161,991 63,295 39,000 69.422
2,448 3, 715
948 1,152 4,867
65
100
Total
10,553 20,698
317 ;.740
12,2~4
30! 065
6SJ, ~6!t
22,792 50,763 1,0ll,JC4
L.:, 2C2 17 4, GOO 2,0C5 ,993
1,161_ 4.224
63,271
36 '159 229,537
4,1<j8
4 1 627
3,080' 579
:1:2,809
40,357 234,214 3,174,388
61,642
3, 640
5,068
1, 716 30' 328
362,633
23,269 33,336
367 J 707
1},022 }4,582
215~33,,003 98,299 1,005,769
3,379 27,617
147,993
6,oco
24
36,779
40
47 38 7 125, 94o 1,190' 581
J
1.937
2,250
26
140,485 58,130 71,229 54,985 25,683 87 t 209 36,918 13,792 35,314 21,500 37,809
57,439
441
_5_2~----~J ________368 ____l5L ___ _JJ9 1, 59&
124
1,0}6
2,251 4, 5}£
1Jb12
410,972 1,526,072 402,197 493,287 211,690 227,285 798,144 204,668132,245 198,107 117 ,098 409,833
50,059
191
64J ,543
14,199
3,131,603
St.3492c.•.
TI.alca 3 ed for publication Friday morning, Mey 4, 1923; not earlier_
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAN'".!CS AT CLOSE OF BUSINESS JlilAY 2, 1923 ..
LIABILITIES
Federal Reserve Bank
(In thousands of dollars)
Boston Y_jw York Phila:. Cleva .. PJ..;l'., Atlanta Chicago St. Louis Minn.. Kans •. Cy. Dallas San Fran_ Total
28,942 9,642 11,994 5,678 4,412 15,007 4,933 3.574 4,596 4,184 7,792 108,822
8,068
7,496 15,263 218,369
59,800 18,749 23,495 11,288 8,942 30,398 9,665 7,473 9,488
16,312
Capital paid in
Surph.1s
Daposi ts:
9,732 3,119 6,061
2,901
Governilen t
713
,310 116 ,059 161,601
124,822
Member bank- reserva account
29,967
532 1,169
504
Other deposits
128,227 753,009 119,710 168,831
Total deposits
F.. R. notes inaotual circulation 204,873 571,466 201,014 226,835
F. IL Bank notes in circulation ~
ndt liability
52,745 109,401 52,002 6o ,758
Deferred avr.ilabili ty i terns
3,454 1,080 1,374
747
All o t."lar liabilities
410,972 1,526,072 4o2,197 493,287
TOTAL LIABILITIES
Ratio of total reserves to deposit
and F. R. note liabilities
combined, per cent
79.4
Contingent liability on bills
purchased for foreign
correspondents
w.
9,138
72.3
2,343
FEDERAL
729,100 230.,873
157,634 29,859
571,466 201,014
75-9
. 2,822
49,083
140,219 1,894,651
4o,l14
3,909
146,950 1,983,848
201,374 2,237,505
617
2,299
1,299
383
48,590 22,983 69,077 :;6,224 13,712 39,261 23,088 36,947
564,788
728
911 1,697
922
726 1,846 1,512
15,972
975
211,69Q 227,285 798,144 204,668 132,245 198,107 il7,098 4o9,838 5,131,603
61.2
78.2
64.5
70.5
59.1
50.4
67.2
75.2
3.570 1,719 1,355 4,595 1,454 1,124 1,421 1,190 2,347
33,235
RESERVE IDTES OUTSTANDING AND IN ACTUAL CIRCULATION
223,557
245,468 87,583 137,852 443,312 97,64o 59,821 69,118 31,217 243,899 2,599,440
F. R. notes outstanding
18,684
18,633 7,249 4,802 49,180 19,062 },449
7,910 2,948 42,525 361,935
F. R.. notes held by banks
226,835 80,334 133,050 394,132 78,578 56,372 61,208 28,269 201,374 2,237.505
F .. R. notes in actual circulation2c4,873
DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF UJDEBTEDNESS AND MUNICIPAL WARRANTS BY MATURITIES
Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days From 9l days
Over 6 months
Total
to 6 ILOnths
507,132
51,223
86,441
56,365
28,579
6oo
730,34o
Bills discounted
66,288
45,648
98,994
54,889
9,610
.. .
275,429
Bills bought in open market
515
213
515
35,536
36,779
U. S. Certificates of indebtedness
~
_~Jo
4o
MUnicipal warrants
·
2,479
82.7
5.509 2,145 8,o47 1,915 1,905 2,346 2,581
59,412 54,685 277.670 71,518 47~543 78,721 49,091
462
151
160
691
157 1,499
913
65,072 56,987 287,216 74,346 50,.139 81,529 51,832
80,334 133,050 394,132 78,578 56,372 61,208 28,269
\,\....._
Released for publication Friday morning, May 4~
1923;
St.J492d.
not earlier.
FEDERAL RESERVE AGENTS• ACCOUNTS .A'f CLOSE OF BUSINESS, MAY
2, 1923.
(In thousands of do~lars)
Federal Raserve Agent at
'Boston New York
Ph~la~
Cleve.
Rich.
Atlanta
Chicago.
St. Louis
Minn.
Kans.. Cy.. Dallas San Fran. Total
RESOURCES
Federal Eeserve notes on hand
J'ederal Reserve notes outstanding
"Collateral security for Federal
Reserve notes outstanding:
Gold and gold certificates
Gold redemption fund
Gold fund - F. R. :SOard
Eligible paper .Amount required
Excess amount held
TOTAL
82,450
2.23, 557
313 ,34o 42,800 33,020 28,470 80,163
729,100 230,873 245,468 87,583 ~37 ,852
106,300 26,:J.90
443.312 97 ,64o
11,593
59,821
19.163
69,118
20,149
31~2+7
243~899
25,300
19,220
128,000
.,...
235,531 7f000 13,275
31,708 15.417 12,195 4,119
371,000 l4ot889 ~80,000 34,795
2,4oo
5,156
13,052
·1,650
33,000
-
ss.ooo
+1,880
16,833 3,306
3313,645 45,500
],995
6,461
1,741
19,758
90,861 67,567 39,998 48,669 45,296
147,723 5,747 49,549 8,894 17,539
87,534 36,954
48,479 8,006
12,119
111724
4o~36o
4~oo6
59,825
~
828,463
e,599,44o
314-,899
135~068
~54~842 1,556~03+
/
51,037
15,561
545,125 1,924,263 510,293
573~505
24,793
9~015
2l2,530 373,4o6 1,041,403 229,476 142,959 166,414
19 ,~~ 69,299
18,
28,485
101,2~
593,442
369~lfJr
576,108 6,396!77~
LIABILITIES
Net amount of Federal Eeserve
. notes received from Comptroller of the Currency
306,007 1,047,44o 273,673 278,488 116,053 218,015
549,612 123,830
71,414
88,281
5:}.,366 303 ~ p..lf 3 ~ 1127 ? 903
Collateral received from
Federal Reserve Bank:
Gold
Eligible paper
172,520
66,598
638,239 163,306 205,470 38,914 92,556
2389584 73.314 89,547 57,563 62J835
355,478 6o,6~6
136,313 44,96o
47,702
23,843
44,325
33,808
12 , 202 o 174, 6oo 2 ,005 , 998
37, 7W 97,784 962,8rr
TOTAL
w.
.,
545,125 1,924,263 510,29) 573~505 212,530 313,4o6 1,041,4<l3 229,476 142,959 166,414 101,296- 576,108
ff
6,396,7~0
@FedFRASER