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STATEMENT FOR THE PRESS St. 4315. Federal Reserve :Bos.rd November 13, 1924, Released for publication Friday morning, Nov. i4j not earlier. CONDITION OF FEDERAL RESERVE B.ANKS The consolidated statement of condition of the Feder<:~.l reserve banks on November 12, made public by the Federal Reserve Board, shows furl".her increases of $13,300,000 in holdings of acceptances ~urchased in open market ~a of $3,500,000 in Government securities, and a decrease of $5.000,000 in holdings of discountea bills, Federal reserve note circulation went up $12~4oO,OOO, total deposits$56,4oo,ooo, cash reserves- $14,ooo,coo, and non-reserve cash- $6,4oo,ooo. Declines of $14,600,000 and $4,300,000, respectively, in holdings of discounted bills were reported by the Federal reserve barks of New York and San Francisco, · while the Cleveland bank shows an increase of $14,500,000 in its holdings, Boston ... an increase of $3,600,000, and Philadelphia.- an increase of $2,100,000. The remaining banks report smaller changes in their holdings of discounted bills for tlie week. Holdings of paper secured by U, s. Government obligations increased by $200,000 to $95,300,000. All Federal reserve banks report larger holdings of accep~es purchased in open ms.rke t except New York, which shows a decline of $16,300,/ Ri"b''hlnond and Minneapolis. The Boston reserve bank shows the largest increase- $9,200,000, Chicago shows an increase of $7,000,000, San Francisco of $4,200,000 1 and Philadelphia of $3,600,000. The System's holdings of u. s. bonds increased by $2,500,000, of Treasury notes by $300,000, and of certificates of indebtedness 'by $700,000. Increases in the volume of Federal reserve notes in circulation are shown for all of the reserve banks except Chicago and Boston, which report declines of $} ,,,1.00 ,000 and $1,800,000, respectively, and Iallas and San Francisco which report a total decline of $1,100,000, The largest increase- $7,300,000- is shown for the New York bank. Cleveland shows an increase of $4,700,000, Philadelphia of $3, 4oo ,000, and Richmond of $1 ,6oo ,ooo. A sumrr~y of changes in the principal assets ano liabilities of the reserve banks during the week and the year ending November 12, 1924, follows: Increase or decre~se during ___ . Week +$14,000 ,000 + 9,100,000 ,;;.;.;:;__ Year -$71' ~0.,000 - 86,100,000 Total earning assets •• Bills discounted, total • • • , . . • secured by u.s. Government obligations , • Other bills discounted • • . • + 11,800,000 - 5,000 ,ooo + 200,000 51200,000 - 85 t 900 ,000 -566 '900,000 -27 6 ' 200 , 000 -288,700,000 + 13,300,000 - 20,300,000 + 3,500,000 + 2,500,000 + 3001000 + 700,000 +498 ,coo ,000 + 26,6oo,ooo +337,900,000 +133,600,000 Federal Reserve notes in circulation • +12, 400 ,ooo -433,800,000 Total deposits • • • • . . • • Meniliers' reserve deposits Go ve rnmen t aepo sits • • • Other deposits +56,4oo,ooo +54, Joo , ooo + 3,bOO,OOO - 1, 500,000 +253,000,000 +259,000,000 .. 11,500,000 + 5,500,000 Total reserves • • Gold reserves •• . Bills bought in open market u. s. Government securities, total , • • • • Bonds . . . . . . . . . . . . . . • . Treasury notes • • • . . . . . . . . . .• Certificates of indebtedness w. .... . ..... ... ~ < / ••• St. 43l5a Releasac1 fo:r publication F:rinay mcrnin,;, l~cV<3mb"r 14, 1'924. REfOURC:i!:S AND LIAB ILP IES 0 F THE TWELVE .FFDEF.AL RESERVE BANKS COM3IN © (In tl1ousanc'ls of clollars) Nov~_1_s__19 2~ ~.2!.~-~~_g~ Nc !=_l_l±_,__l92J. RE S 0 URCE S Goln with Feel eral :reserve agents • . . • G-c1c1 reel errpticn fun(! with U.s. Traasury • . Gclcl helcl exclusively agai~~F.R.nctes G0lcl settlement func1 with F. R. Beard Golc1 ann gclcl certificates haln br banks • r.zictal 1olcl res 3rves • . .. Reserves other than gclcl . .T_otal_rese~ Non-reserve cash . Bills c1 iscoun tecl: Sec. by U. S. Govt. obli"aticns Other bills clisccuntacl • Total bills Cl iscounted • Bills bought in cpen market U. s. Government securities: Bon::is . . . . . . . . . . . . Treasury notes • . Certificates of indebteclness Total U. s. Government securities All othe:r earning assets Total ea!E_~~ssets 5% Reclempticn fund - F. R. Bank notes Unccllectecl i terns . . . . Bank p:remi ses • . . . • All cthe:r :resources . • . TOTAL RESOURCES 2,107' 168 54,748 --2,161,916 584,046 - 383,047 3,134,00j 75,370 3,209,379 72,860 1,970,011 27) 114 ----1,997,125 6ol,642 449,115 3,047,882 90,065 3,137,947 41,731 1' 989 '213 33,070 ----2, 027' 283 . *537' 118 424,370 -----*3,038,771 85,148 95,334 123,898 224,232 248,190 95,175 134,088 373,536 417,576 229,263 234,843 791' 112 268' 450 44,746 393,313 145,300 588,364 3,557 1,064,343 42,309 398,006 144,561 534,876 18,192 60,465 11,663 90,320 3,557 317 1,052,544 1' 150,199 28 737,899 56,162 13,945 5,290,472 *3, 123,919 35,355 *583, 315 60,743 655,893 60,751 27,439 5·,018,104 4,883,417 1,829,202 11816,817 2,263,048 507 2,172,354 33,424 29 '662 2,235,44o 6o6,73S 112,222 220,915 13,537 2,118,075 29,813 31,107 1,913,::-··j 2,178,995 541' 592 112,009 220,915 13,039 1,982,431 691,5C9 110,023 213,369 24,505 5,018,104 4,883,417 5, 290,472 25,929 35,709 -~7,541 L I AB I L I T I E S F. R. notes in actual circulation F. R. Bank notes in ci rculaticn - net Deposits: Member bank - :reserve account Government . . . . Other cl epo sits . . '£_otal:_c_1_epos_i ts Deferred availability i terns Capital paicl in . Surplus • . . • . . . . All othe:r ljabiltias • • . . TOTAL LIABUITIES • • Ratic of total :reserves to cleposit and F. R. note liabilities combined 24, 1fj 77.2$ Contingent liability on bills purchas3d fo:r foreign cc:rrespcro ents . . . 44, 3~--~ *Reviead figures. BESOU!1CES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, NOVEMBER 12, 1924. Boston: Fada:ral Reserve Bank of Gold with F3r'eral Rese-...ve k:-ents 138,503 Golct :re;l umpt i en fund with U.S. Tr;;:as. 4,332 RE S 0 URCE S (In thousands of d olla:rs) Naw York Phila. Clava. Rich. Atlanta Chicago 5t.I,ouis iviinn. Kans.Cy. Dallas San Fran. Total 529,747 170,789 207,232 70,339 130,165 211,134 55,925 71,253 64,716 49,903 220,250 1,970,011 5,914 2,130 1,554 2,235 1,750 1,481 2,454 412 2,266 1,337 l,OS9 27,114 gold ~~lo ~x'?ll.ls i vely ~ina~ F. li. n(Jtss ---------·-Gold sat tlem""nt fun,1 with F. R.Boa:rd C!old anc1 e;olt:l certif. he lei by ban..l{.s 192,335 35,356 21,167 535,661 172,969 203,766 185,995 33,539 56,167 216,72.6 27,944 lc, 748 'i'otal___gr:;>1 c1_r e~~:::ves ResoriTes other than gold 2lt9 1903 9,991 Total reseT"ves ---------- 259,399 4,021 938,384 234,502 233,701 115,337 160,414 l.J.c.ll) i 749. 95,443 4,483 6,355 3, 313 21' 053 7' 649 11,132 10,433 959,437 237,901 290,036 119,820 163,063 411,681 103,376 2,283 910 1,562 . 3, 363 2,189 15,&15 5,215 Non-reserve cash Bills Clisc01.'ntec1: S ec1;·re<1 by u. s. Gc·:t. ob1 i~ations - 14,155 10,995 14,353 7, 745 72,624 131,915 212,615 26,161 20,969 103,703 16,552 7,530 E:4,431 7,594 22,991 Total bills ---- - · ·d iscounteCl Bills bought in open market u. s. Goverl:'.men t securities: B om s Treasury note10 Certificates of int:lebtedness 1),;;::-59 ~_.j.j; -~? ~-1 .~..: ) 1' '". 30,327 9,294 }:..:_,S-21 31,900 76,943 13,729 22,076 1,030 26,796 11,029 4,902 136,394 46,020 749 25,426 5, 277 5,115 38,511 21,410 1' 191 Total U.s. Gcvt. securi ti ss All other earning as sets 38,355 167' 316 31 '452 3,300 65,036 4, 993 Other bills c1iscounted 7' 827 5,442 53,379 30,273 9,791 Total__earn!~.£ssets Uncoll act eCl items Bank prerni s es All otl-,e:r resources TOT'A.L RESOURCES 84,024 63,369 4,312 226 239,409 164,003 17,047 10,528 991 95,45') 100,752 1,187 2,750 601,642 4Ll9' 115 76,465 293,777 3,047,362 3,307 3,296 90,065 96,637 103,502 581 1, 73J 84,772 (!) 7' 073 3,137,947 2,660 41,731 1, 394 70, 584 126 '733 63,925 54,988 1,112 9,129 338 276 35,673 55,117 2,528 195 30,157 3,523 17,055 8,120 43' 436 23,942 93 5,537 1,202 5,796 605 2, 726 4,310 7,334 95,334 123,698 31' 503 15,315 10,834 5,630 6,996 1,314 10,150 3,331 13,645 12,194 28,246 224,232 248,190 1,520 15,765 1,438 53,142 791 18,742' 600 12,715 3,454 f:,754 15,068 4,7f8 2,164 24,492 9,107 1,834 19,469 6,542 1,122 42,056 17,163 44,746 398' 318 145,300 3,749 16,769 23,590 35,763 250 27 ,31+5 60,341 52f ,364 53,161 17' 23 7 44,572 3,052 4,596 -,.-!" 4,144 I JO 44,321 36, 252 1,912 3,289 8,862: 21,719 19,349 7,850 30,5E7 37,655 7 30,943 149,745 28,337 72,312 8,264 2,875 2, 014 1, 021 42,913 34,235 2,759 138 35,541 3.557 100,731 1,064,343 41,041 635' 393 3,165 60' 751 4,464 27,439 420,351 1,456,244 379,820 483,500 214,900 236,100 648,433 191,115 157,192 203,320 17 2' 440 449 , 1 84 5,013,104 c. 2.,~11 66,932 51,290 221,349 1,997,125 4,316 10,997 1,077 13' 27 2 -----------~-------.----------------------- 30,655 71,670 13,201 5,579 -- __ .r-_ -- ,Ill. ............_ RES0URCES AND LIABILITIES OF WE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, NOVEMBER 12, 1924. L I AB I L I T I E S (In thousa:r:rls of dolla-rs) .• Beaton New York Phila. Faoe:.:-al Raserve Bank of F.R. nctss in actual circulation 196,534 365,262 159,880 Depcsits: Membe-r bAnk - reserve account 138,984 852,424 122,895 5,082 3,308 2,455 C·c7e:rnmant 115 19,056 326 O"tih.:.r Clepcsits 14l,554 876,562 126,529 T J i s:;_~5?_C sits 58,029 122,·112 62,479 Defer~eo availability items 8,019 30,226 10,517 Cal)l tal p 3-id in 16,390 59,929 19,927 S1.1..rpl us 325 2,153 438 All other liabilities 420,851 1,456,244 379,320 ~OTAL LIABILITIES Ratio cf tjtal -reserves to ~ eposit anc1 F. R. nota liabilities 33.1 comb in eel, per cent 76·9 77·3 Contincent liability on bills purchased fer foreign 7,200 2,515 cc•·-respcn0ents Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans. Cy. Dallas San Fran. Total 212,765 82,972 137,405 203,382 55,952 72,420 71,958 57,835 211,837 1,829,202 5i}, J.l9 1,262 337 57,718 llL,874 3,262 7,4S4 1,4!4 4S3,500 214,900 236,100 643,438 191,115 157,192 179,436 2,540 1,204 183,180 49,"966 12,755 23,691 1,143 62,295 63,565 312,993 78,254 2,010 2,752 5,035 2,235 155 124 1,277 1,166 64,460 66,441 319,305 81,657 49,002 17,348 73,465 36,816 5,897 4,561 15,160 5,134 11,672 8,950 30,426 10,072 897 1,375 1,6eo lH~4 -------·-------·----------------~-------· 73·3 3,034 81.3 1,478 82.4 1,141 78.8 3,863 78.5 ~6,659 1~154 57, 64o 1,975 664 474 G8,477 60,089 33,420 41,005 4,344 4,140 9,496 7,577 625 1,794 208,320172,440 --------~ 74.3 1,271 933 64.5 1,193 71.9 935 161 '090 2, 172,354 3,616 33,424 4,762 --------- 29,662 169,463 2,235,440 43,222 606,738 8,147 112,222 15,301 220,915 1,209 13,5g7 449-,184 5,018,104 77·9 1,971 25,584 FEDERAL RESERVE NOTES OUTST.A.."'DING AND IN ACTUAL CIRCULATION F. R. nctes outstar~ing 221,640 F. R. nctes held by banks 25,106 F. R. r.cta1 in actual circulation 196,534 75,305 73,560 63,394 250,354 2,255,532 2,885 6,602 5,559 38,517_ 42~330 72,420 71,958 57,835 211,837 1,829,202 DISTRIBUTION OF BILLS, MINICIPAL WARF.ANTS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES Within 15 clays 16 to 30 days 31 to 60 days 61 to 90 clays From 91 clays Over 6 months Total to 6 months 415 137,645 28,195 34,014 15,239 8,724 224,232 Bills discounted 248,190 74,489 46,126 74,404 46,145 7,026 Bills bought in open market U. s. Certificates cf indebtedness l45,300 6s, 341 ?Q.......'· Pl~ , . Municipal warrants 7 t http://fraser.stlouisfed.org/ Federal__Reserve Bank of St. Louis .::........._ ~ --·· --- - ~~ ---------- .,_ .........._ 609,413 195,776 230,974 90,423 154,190 222,113 63,385 244,156 35,896 18,209 7,451 16,785 13,731 6,433 365,262 159,320 212,765 82,972 137,405 203,382 56,952 - --- Releasoo J or :puoucation F'riday morning, November 14, 1924; not earlier. FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF' 'BUSINESS, NOVEMBER 12, 1924. (In thousands of dolJars) Federal Reserve Agent at Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis l~nn. Kans.Cy. Dallas San Fran. Total RE S 0 URCE S Federal Rese:r·ve Notes on hand 67,350 Fede:.~al :l<".sGr7e >::.otes outstanding221 ,640 Colia·iiera.l sccw:i ty for Federal Reserv8 notes outstanding: Geld mo gold cert.ificates 35.300 Gold reck>.rrJption fund 15,203 GJ Jd fu1d - F, R. Board 138,000 El.i.g·t0la paper 1\LI·.:n.m t re qlli red 33' 137 Excess 2.mount helo 12,032 TOTAL 251,960 49,160 49,070 31,165 69,015 24o,920 26,300 15,994 26,853 19,397 71,900 919,084 609,418 195,776 230,974 90,423 i54,190 222,113 63,385 75,305 78,560 63,394 250,354 2,255,532 193,531 7,800 3,780 3,500 30,216 l2,6cO 13,452 2,594 5,665 5,489 301,000 150,389 185,000 67,795 121,000 205,645 79,611 24,987 23,742 20,034 24,025 18,441 3,885 35,888 10,278 2,973 8,985 13,052 14,556 290,504 3,94) 1,206 4,356 3,347 18,804 117,372 43,000 57,000 60,360 31,500 201,446 1,562,135 10,979 7,460 50,954 18,675 4,047 13,844 13,491 1,742 3,273 3,057 }0,104 9,946 285,521 171,144 522,662 1,489,237 444,597 546,906 222,289 380,368 736,100 171,745 168,346 187,246 149,242 582,554 5,601,292 L I AB I L I T I E S Net amount of Federal Reserve notes recei. ved from Comptroller ·of the Currency 288,990 861,378 244,936 280,044121,588 223,205 1!63,033 89,685 91,299 105,413 82,791 322,254 3,174,616 Collateral received from Federal reserve bank: Gold Eligible paper 529,747 170,789 207,232 70,389 130,165 211,134 55,925 71,258 98,112 28,372 59,630 30,312 26,998 61,933 26,135 5,789 TOTAL w. 188,503 45,169 64,716 49,903 220,250 1,970,0ill 17,117 16,548 4o,050 456,665 522,662 1,489,237 444,597 546,906 222,289 380,368 736,100 171,745 168,346 1S7,246 149,242 582,554 5,6o1,292