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STATEMENT FOB THE PRESS Released f o r p u b l i c a t i o n St.4518 Friday morning, May 8; Federal Reserve Board not e a r l i e r . May 7 , 1925. CONDITION OF FEDERAL EE SERVE BANKS The c o n s o l i d a t e d statement o f c o n d i t i o n of the F e d e r a l r e s e r v e banks on May 6 , made p u b l i c by t h e F e d e r a l Reserve Board, shows i n c r e a s e s o f $ 1 0 , 6 0 0 , 0 0 0 i n h o l d i n g s o f d i s c o u n t e d b i l l s , o f $ 1 1 , 6 0 0 , 0 0 0 in a c c e p t a n c e s purchased i n open market and o f $ 2 6 , 7 0 0 , 0 0 0 i n Government s e c u r i t i e s , r e s u l t i n g i n an a g g r e g a t e i n c r e a s e of $ 4 8 , 9 0 0 , 0 0 0 i n t o t a l e a r n i n g a s s e t s as compared w i t h the d e c l i n e o f $ 2 5 , 1 0 0 , 0 0 0 reported the p r e v i o u s week. Cash r e s e r v e s d e c l i n e d $ 5 , 9 0 0 , 0 0 0 , n o n - r e s e r v e cash $ 1 , 1 0 0 , 0 0 0 , and F e d e r a l r e s e r v e n o t e c i r c u l a t i o n $900,000, The New York r e s e r v e bank shows an i n c r e a s e o f $ 4 2 , 1 0 0 , 0 0 0 i n d i s c o u n t h o l d i n g s , and the S t . L o u i s , Kansas C i t y and D a l l a s banks show a combined i n c r e a s e o f $1,600,000. The remaining banks r e p o r t d e c r e a s e s i n d i s c o u n t h o l d i n g s , the p r i n c i p a l d e c l i n e s b e i n g : Chicago $ 1 3 , 2 0 0 , 0 0 0 , Boston $ 5 , 2 0 0 , 0 0 0 , P h i l a d e l p h i a $ 5 , 0 0 0 , 0 0 0 , Richmond $ 3 , 8 0 0 , 0 0 0 , and A t l a n t a $ 3 , 0 0 0 , 0 0 0 . An i n c r e a s e o f $ 2 5 , 6 0 0 , 0 0 0 i n h o l d i n g s o f a c c e p t a n c e s purchased, i n open market i s reported by t h e Federal Reserve Bank o f New York. The San F r a n c i s c o bank shows a d e c r e a s e o f $ 3 , 6 0 0 , 0 0 0 i n acceptance h o l d i n g s , Boston - a decrease o f $ 3 , 0 0 0 , 0 0 0 , Minneapolis o f $ 1 , 8 0 0 , 0 0 0 , and Cleveland and Kansas C i t y o f $ 1 , 4 0 0 , 0 0 0 each. Acceptance h o l d i n g s o f the s i x o t h e r banks show s m a l l e r changes f d r the week. The S y s t e m ' s h o l d i n g s of Treasury n o t e s went up $ 2 3 , 5 0 0 , 0 0 0 , o f Treasury c e r t i f i c a t e s $ 3 , 0 0 0 , 0 0 0 , and o f U. S. bonds $ 1 0 0 , 0 0 0 . The p r i n c i p a l changes 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 during the week comprise a d e c r e a s e o f $ 3 , 6 0 0 , 0 0 0 reported by the Cleveland bank, and i n c r e a s e s o f $ 3 , 3 0 0 , 0 0 0 and $ 1 , 8 0 0 , 0 0 0 , r e s p e c t i v e l y , by San F r a n c i s c o and Boston. A sumri&ry o f changes i n the 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 o f the r e s e r v e banks during the week and the year ending May 6 , 1925, f o l l o w s : I n c r e a s e or d e c r e a s e during Week Total reserves . . . . . Gold r e s e r v e s . . . . Year . -$5,900,000 - 5,600,000 - $244,900,000 - 284,100,000 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 . Other b i l l s d i s c o u n t e d . . . . +48,900,000 +10,600,000 - 7,600,000 +18,200,000 + + - 238,200,000 29,700,000 40,700,000 70,400,000 . +11,600,000 + 191,200,000 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 o f indebtedness , +26,700,000 + 100,000 +23,600,000 + 3*000,000 + + + - 64,800,000 66,900,000 33,400,000 35,500,000 - - 244,100,000 + +• + + 238,000,000 226,500,000 5,600,000 5,900,000 B i l l s bought i n open market F e d e r a l Reserve n o t e s i n c i r c u l a t i o n . . . . 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 W. • . . . . . . 900,000 +45,000,000 +45,500,000 - 3,100,000 + 2,600,000 Peleased f o r p u b l i c a t i o n Friday morning, May g, 1925; not e a r l i e r . S t , 45]gr RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL PESER7E BANKS COMBINED ( i n thousands of d o l l a r s ) May 6, 1925 PESOU. PCES Gold w i t h F e d e r a l r e s e r v e a g e n t s . . . . Gold r e d e m p t i o n fund w i t h U.S. Treasury Sold held e x c l u s i v e l y a g a i n s t F. P . n o t e lold s e t t l e m e n t fund with F. E. Board . Gold and gold c e r t i f i c a t e s held by banks Total gold r e s e r v e s . Reserves other than gold . . . , Apr. 29, 1925 May 7, 19 1,564,821 49,114 1,547,198 51,345 2,110,776 39,755 1,613,935 1,59S,543 2,1)0,531 636,928 601,766 611,846 619,750 < 2,845,531 615,631 377,309 3,129,606 l4i,69i 2,851,102 142,009 2,987,222 2,993,m 3,232,10s 53,383 54,536 51,243 208, 269 202,333 215,871 184,114 167,556 272,729 . 410,602 278,466 399,985 266,828 440,285 B i l l s bought i n open market U. S, Government s e c u r i t i e s : B end s Treasury n o t e s C e r t i f i c a t e s of indebtedness 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 85,227 265,527 24,960 Total U. S. Government s e c u r i t i e s Foreign l o a n s on gold All other earning a s s e t s . . . . . . . 5% Redemption fund - p. R. Bank n o t e s . Uncollected items Bank premises All other resources . . . TOTAL -RESOURCES L I A B I L I T I E S F. E. notes i n a c t u a l c i r c u l a t i o n . . F. P. Bank notes i n c i r c u l a t i o n - n e t 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 Capital paid in Surplus A l l other l i a b i l i t i e s . . , . . . . P 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. P. note l i a b i l i t i e s combined . . . 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 10,500 1,400 1,076,682 Total earning a s s e t s TOTAL LIABILITIES 375,714 85,138 241,980 21,921 349,039 10,500 87,287 18,353 232,091 60,43s 310,882 1,400 51 1,027,752 838,505 - 601,59s 102,502 — 28 22,715 59,283 592,804 59,266 22,286 566,511 56,540 23,730 4,800,888 4,749,755 4,768,665 1,682,971 1,653,880 1,927,027 338 - 2,180,024 1,953,532 28,333 2,134,562 27,059 25,764 2,232,337 2,187,385 1,994,352 539,846 115,226 217,837 12,671 532,714 115,207 217,837 12,732 500,211 111,231 4,800,588 4,749,755 4,768,665 23,980 76.3 45,337 18,381 22,439 220,915 14,591 77.3# 52.4# 47,656 21,388 Beleased f o r p u b l i c a t i o n Friday morning, May g, 1925; not e a r l i e r . S t . 4518b BESOUBCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, MAY 6, 1925. RESOURCES ( i n thousands of d o l l a r s ) .. e d e r a l Reserve Baiur of Boston Gold w i t h Federal Reserve Agents Gold redemption fund w i t h U . S . T r e a s . Gold held e x c l u s i v e l y a g a i n s t F, B. n o t e s % Total r e s e r v e s Non-reserve c a s h ' B i l l s discounted: Secured ty U.S.Govt, o b l i g a t i o n s Other b i l l s discounted. Total b i l l s d i s c o u n t e d B i l l s bought in open market U. S. Government s e c u r i t i e s : Bonds Traasury n o t e s C e r t i f i c a t e s of i n d e b t e d n e s s T o t a l U . S . Govt, s e c u r i t i e s Foreign l o a n s on gold All other earning a s s e t s Total earning a s s e t s Uncollected items Bank p r e m i s e s All other resources TOTAL BESOUBCES Phila. Cleve. Rich. A t l a n t a Chicago S t . L o u i s " f t S *•<% "&S ^ % 565,152 145,447 172,718 44,235 133,830 I 4 i , n 6 Gold s e t t l e m e n t fund w i t h F.B.Board Gold and gold c e r t i f . heI3 by banks Total gold r e s e r v e s Beserves o t h e r than gold New York as 1.% « 271,544 _LiZ2§ 256,340 5,98s 11,287 Minn. Kans.Cy. D a l l a s San Fran. T o t a l 1'Ml*-% 49,295 55,37 5 58,219 40,980 209,831 1,613,935 sg ^ i# aa 865,258 217,409 278,040 85,251 158,887 361,420 78,419 76,404 105,422 71,423 276,054 2,845,531 3^,301 5,663 8,071 4,442 15,316 17,936 20,130 1,870 3,576 9,475 6,11,5 141,691 899,559 223,072 286,111 89,693 174,203 379,356 98,549 78,274 108,99 8 80,898 282,169 2,987,222 15,280 2,105 2,779 3,472 3,878 7,196 3,687 1,130 2,067 2,342 3,464 53,388 87,595 20,059 28,065 11,819 2,331 21,474 5,500 42,172 12,035 15,070 33,843 17,214 22,585 11,600 24,050 29,981 129,767 83,186 1,190 1,853 5,407 6,311 32,094 43,135 45,662 19,545 44,059 17,100 6,597 8,164 24,644 23,159 10,194 10,849 37,141 9,155 15,472 10,240 2,661 15,101 3,393 10 : 23: '-'I % ||° *'1 «i iil »:§ ffl 21,155 777 118,221 2,835 24,706 39,942 976 1,124 3,385 557 9,297 17,345 26,464 20,401 34,755 483 346 420 368 735 375,714 10,500 75,963 334,009 83,570 107,360 59,798 34,681 138,835 36,035 12,763 -Z_ ll = 'ii l II 1 '15° 3,857- 56,186 430 1,449 - -:i -a ig i s 590 3,534 4,124 6,640 16,506 19,799 36,305 17,805 : 250 - - 208,269 202,333 410,602 278,466 1,400 39,760 45,538 31,533 89,600 1,076,682 if'm *s 425,366 1,410,216 366,744 459,897 207,061 247,076 613,059 175,799 137,901 198,261 140,751 418,757 4,800,888 if. R e l e a s e d St. 4518c f o r - p u b l i c a t i c n Friday morning, May 8, 1925j n o t earlier-. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, MAY 6, 1925. L I A B I L I T I E S ( i n thousands of d o l l a r s ) Federal Reserve Bank of Boston New York P h i l a. CI eve. Rich. A t l a n t a Chicago S t . Louis Minn. Kans. Cy. Dallas San Fran. Total 63,397 64,109 42,801 197,037 1,682*971 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 212,657 338,326 1 4 9 , 0 0 1 1 9 4 , 7 5 4 7 3 , 0 0 5 139,44? l 6 l , l 4 6 47,291 Deposits: Member bank - r e s e r v e account Government Other d e p o s i t s 134,175 830 307 839,677 133,488 174,520 5,254 2,746 2,842 17,551 512 1,315 64,907 1,434 199 68,928 334,646 2,501 1,176 213 1,297 79,339 1,334 1,058 49,282 1,694 293 85,973 1,451 673 5 9 , 3 8 1 155,708 2 , 1 8 0 , 0 2 4 1,127 1,591 23,980 202 4,713 28,333 135,312 8 6 2 , 4 8 2 136,746 178,677 66,540 71,642 3 3 7 , H 9 81,731 51,269 88,097 6 0 , 7 1 0 162,012 2 , 2 3 2 , 3 3 7 115,835 31,509 49,042 5,987 21,741 4,609 8,950 687 31,174 5,104 9,971 528 11,486 3,245 7,497 1,007 32,265 4,336 8,977 477 24,739 35,146 8,170 115,226 7,592 15,071 217,837 Total deposits Deferred a v a i l a b i l i t y items Capital 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. note l i a b i l i t i e s combined, per 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 oreign correspondents 52,122 8,350 16,382 543 82.3 3,426 241,478 F. R. n o t e s i n actual c i r c u l a t i o n 212,657 20,059 496 49,917 12,956 22,462 1,131 11,701 786 67,126 15,538 30,426 1,704 4,233 676 1,321 539,846 12,671 425,366 1 , 4 1 0 , 2 1 6 366,744 459,897 207,061 247,076 613,059 175,799 137,901 198,261 140,751 418,757 4,800,68% 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 B i l l s discounted B i l l s bought in open ire-rket C e r t i f i c a t e s of indebtedness 58,749 3,315 49,253 11,189 28,821 74.9 78.1 76.6 64.3 82.5 76.1 76.4 68.3 11,522 4,308 4,957 2,455 1,899 6,393 2,131 1,529 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 71.6 1,853 78.2 1,621 78.6 3,243 76.3 45,337 8 6 , 8 8 8 1 6 0 , 3 0 6 171,016 53,542 66,280 72,445 47,866 232,956 2,000, OS 338,326 149,001 194,754 73,005 139,447 161,146 47,291 63,397 64,109 42,801 197,037 l,68g,5?l 464,341 188,757 214,134 126,015 39,756 19,380 13,883 20,$59 9,870 6,251 2,883 8,336 5,065 35,919 DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES From 91 days 6 months Within 15 d ays l 6 t o 30 days 31 t o 60 days 6 l t o 90 days months'* tto°6 o 6 months 3,389 18,191 23,857 40,693 22,889 301,583 4,625 29,120 70,384 56,847 117,490 9,157 15,261 542 317,038 .Total 410,602 275,466 24,960 .neieaseo t o r p u o x i c a t i o a . . E r i a a y rooming, May 8 , 1525; n o t e a r l i e r . S t . 45l8d FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, MAY 6 , 1925. ( i n thousands of d o l l a r s ) Federal Reserve Agent at R E S O U R C E S Boston Federal Reserve n o t e s on hand 60,950 Federal Reserve n o t e s o u t s t a n d i n g 241,47S C o l l a t e r a l security f o r Federal Reserve n o t e s o u t s t a n d i n g : Gold and gold c e r t i f i c a t e s 27,800 Geld redemption fund 13,64l Gold fund - F. R. Beard 149,000 E l i g i b l e paper Amount required 51,037 E x c e s s amount held 2,994 T0TAL New York Phila. CI eve. 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 318,540 4 6 , 6 0 0 4 5 , 7 0 0 464,341 188,757 214,13%. s 22,254 6 1 , 5 1 0 269,307 86,888 1 6 0 , 3 0 6 1 7 1 , 0 1 6 25,660 53,542 23,637 66,280 28,123 72,445 21,572 69,700 993 553 4 7 , 8 6 6 232,956 2 , 0 0 0 009 J 8,780 186,698 6,000 28,726 10,740 1 0 , l 4 l l 4 l , 0 0 0 123,389 1 5 0 , 0 0 0 5,000 2,209 4,037 4,$45 38,295 122,500 130,644 12,975 2,758 28,000 13,052 1,043 40,500 3,491 52,360 16,Oil 276 316 3 , 0 1 4 17,977 IO2!622 20,000 1 9 0 , 1 9 5 1 , 1 8 5 , 8 8 3 107,917 86,562 46,384 9,059 9,809 15,145 11,685 10,234 16,594 1,637 48,628 2,794 45,213 19,666 28,769 632 35,527 45,338 8,841 1,847 24,784 28,794 435,188 224,702 546,900 1,333,784 426,908 493,634 205,089 382,754 656,677 147,889 166,431 174,650 119,151 564,406 5,218,273 L I A B I L I T I E S Net amount of Federal Reserve n o t e s r e c e i v e d from Comptroller of the Currency C o l l a t e r a l r e c e i v e d frcm Federal r e s e r v e bank: Self E l i g i b l e paper TOTAL 302,428 782,881 235,357 259,834 109,142 221,816 440,323 79,202 89,917 100,568 69,438 302,656 2,993,562 190,441 54,031 356,424 140,129 168,921 194,479 5 1 , 4 2 2 6 4 , 8 7 9 39,025 208,172 1,564,821 10,688 53,578 659,890 4 0 , 5 0 4 131,537 135,489 55,443 29,401 80,865 43,733 24,954 54,595 21,919 55,851 18,231 5 4 6 , 9 0 0 1 , 3 3 3 , 7 8 4 4 2 6 , 9 0 8 4 9 3 , 6 3 4 205,089 3 8 2 , 7 5 4 656,677 147,889 166,431 1 7 4 , 6 5 0 1 1 9 , 1 5 1 564,406 5 , 2 1 8 , 2 7 3
@FedFRASER