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STATEIVIENT FOR THE PEESS
Released for publication
Friday morning, Nov. 2;
not earlier
st. 3771
Federal Reserve Board,
November 1, 1923.
CONDITION OF FEDERAL BESERVE B.ANKS
Further reduction of $30,500,000 in Federal reserve note circulation, and increases of $47,600,000 in the holoings of discounted bills and of $25,000,000 _in
acceptances purchased in open market, are sho~n in the Federal Reserve Board's
weekly consolidated statement of condition of the Federal reserve banks at '::lose of
business on October 31, 1923. Deposit liabilities increased by $35,100,000, While
cash reserves declined by $18,000,000, as corrpared with an increase of $11,100,000
reported the preceding week. The reserve ratio declined from 76.8 to 76.3 per cent.
Substantially larger holdings of di sc.ounted bills are reported by tP-ree reserve banks, the New York bank showing an increase of $38,400,000, :Boston- an increase of $9,600,000, and Chicago - an increase of $6,600,000. The San Francisco
bank shows a decrease of $5,600,000 in its holdings of discounted bills, and
lvlinneapolis - a decrease of $3,200,000, while smaller ('.hanges are reported for the
seven remaining banks. Paper secured by United States government obligations in'~reased by $41,300,000 and on October 31 aggregated $425,700,000. _Of thisamount
$250,400,000 was secured by Liberty and other U. S. bonos, $158,600,000- by
Treasury notes, and $16,600,0CO - by certificates of indebtedness.
Iecreases in Federal reserve note circulation are reported by ten of the Federal reserve banks. The largest decrease, by $9,100,000, is shown for the New York
barik; Boston shows a reduction of $6,900,000, Cleveland $5,100,000, San Francisco $5,100,000, and Chicago - $4,600,000. Philadelphia and Richmond show increases in
Federal reserve note circulation of $1,800,000 and $2,4oO,OOO, respectively.
Gold reserves declined by $25,300,000 during the week, New York reporting a
decrease of $18.200,000, Chicago- a deerease of $17,600,000, and Boston- a d-:Jcrease of $9,600,000. Increases of $10,000,000 and $6,300,000, respeetively, are
shown for the Minneapolis and San Francisc~o ban.."lcs
4
A
surrmary of changes in the principal assets
liabilities of the reserve
and
banks, as compared viii th a week and a year ago, follows;
Increase
or
Decrease
In millions of dollars
since
Oc.t. 24, 1922
Nov. 1, 1922
18.0
20.6
25.3
+ 33.0
Total reserve • .
Gold reserves
Total earning assets . . •
Discounted bills, total •
.
Secured by U. S. Governn1ent obligations .
Other bills discounted
+
+
+
76.2
47.6
41.3
+
6. 3
+ 296.0
+ 154.1
+ 141.9
Purchased bills . . . . .
+ 25.0
56.0
United States securities, total . . . .
_ .. .
Bonds and notes . . .
U. S. Certificates of indebtedness
~
28.1
I
..
.
Total deposits_ • . .
Members' reserve deposits
Government deposits
Other deposits • . • .
Federal Reserve notes in
w.
c.irl~Ulation
•
+
3.6
2.3
5.9
268.4
113.5
- 15L+.9
35.1
23.1
+ 44.4
.j.
+
+
ll. 5
•5
1t3
+
+
+
47.5
7. 4
34.4
Released for publir.ation Friday morning, November 2, 1323·; not earlier.
St. 3771a
RESOURCES P~~ LibBILITIES
OF THE TV'ELVE FEDEP..AL R."SSERVE I!'}:zs CJTv'fEIN.ED
(In thousands of dollars)
RESOURCES
Oct. 31, 1923
354,739
609,136
963,925
Total gold held by banks
Gold with Federal Reserve Agents •
. 2,035,682
Gold rederrwtion fund . .
61,471
1QJ.§.l_ g()_l,.P reserves . .
3,111,078
Reserves other than gold .
30,067
Total reserves
3,191,145
Non-reserve ~ash • . . . . •
•
39,152
'Bi 11 s di scount ed :
Ser.. by U. S. Goverrunent o'bligatiions .
425,650
Other bills discounted ••
458,150
Bills bought in open market
204,698
Total bills on hand . . •
1,038,493
U. S. bonds and notes
77,574
U. S. Certificates of indebtedness •
14,263
~hrr.d~ipal warrants • . .
317
Total earning assets .
1,130,652
:Bank premises .
55,943
5% Redemption fund against
F. R. Bank notes
23
Uncollected items
611 271
All other resources
13,076
TOTJU. BESOURCES
5,091,267
Gold and gold ~ertifi~ates •.
Gold settlement fund - F. R. Board •
..
Oct.' 24, 1923
375,456
618,424
993,830
2,089,358
53,174
3,136,412
72,710
3,209,122
76,872
384,346
451,892
179,747
1,015,985
-(9 ,907
3,286
317
1,104,495
55,895
--
''rov
,.J.! 192?
.IJII
•
-
266,718
618,527
,,
88- 245
2,126,535
66,269
3,073,049
133,696
3,211,745
*
271,497
316,267
260,658
848,422
191,095
169,216
24
1,203,757
'45,295
28
66o,46o
13,470
5,120,31-1·2
5,142,169
109,726
213,369
109,709
218,369
106,292
215,398
4o ,334
1,395,265
23,061
1,953,66o
2,224,865
23,823
1,372,179
22,536
1, 923,533
2,255,354
36,047
1,347,693
1,914,248
2,309,265
523
555,914
23,210
529
589,636
23,207
536,140
25,253
5,091 ' 267
5,120,342
5,142,169
J
3,635
65-1,379
15,353
L I AB I L I T I E S
Capital :paid in
Surplus . • .
Deposits:
Government . • . . . .
. . .
Member bank - reserve ac~ount
Other deposits . . .
Total deposits
F. R. notes in actual circulation
F. R. Bank rotes in cirrulation net liability • • . . . . .
Deferred availability items
All other liabilities
TOTAL
..
.
LIA~BILITIES
30,5GZ
35,573
Ratio of total reserves to deposit and
F. R. note liabilities combined
76 .)p
~d
76.8%
76.o%
Contingent liability on bills purchased
for foreign correspondents . . . . . •
44,102
42,331
33,338
w.
*Not shown separately prior to January, 1923.
.. ;;:;a.&~G
for publicaticn Fri-lc.:)' rr,orning, Novemoar 2, 1923; ;.:ot earlier.
::ESOURCES AND LIABILITIES OF 'THE FEDERAL P.ESERVE BA1'1JKS AS kT CLOSE OF BUSINESS, OCTOJETI 31, 1923.
(In thousands of dollars)
St. 377lb
RES 0 U R C E S
Federal Reserve 3ank of
Go!d U..'ld geld cert i:icates
F.R.Board
Gold settlement fund
Total gold held by banks
-
Gold with F. R. Agents
Gold rederr:ption fund
Total gold
~·eserves
Res:;rves other +,han c:old
Tot a:.
:~eserve::;
Boston
21,495
58.548
New York Phil a. Cleve.
161+, 233 36,083 13,635
153,322 39,66L__§_~l8_
30,343
317,561 77,750 100,603
634,350 166,320 208,193
1,284
1,422
3a5'54
300,053
91,063 51S,318
cJ. L'41
5, ~S1
'
72,9o4
80,307
_9_,__SJ2
959,343 252,624 310,080 96 ' C'Y''_,
13,158
u., 295 L.~73
5, 3119
10,555
1,4C9
3CS, S35
977,501 257.973 31l.~. 3 75
r.J
JO, J4-9
c2~
~53
) C, C:
-
33,459
31,716
79,225
3,637
Bills discounted:
Secured by U.S.Govt. obligations 16,249
22,232
Other bills d iscvunted
14.151
Ei lls bour:sht in open market
TGt3...1 bi1 ls on :hand
oond s
and notes
Csrtificates of indebtedness
Uu."licipal
.
warrants
Total earning assets
Bank premises
43,923
Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total
11,616 21,471
354,739
2,943
5,9E5 49,196
4, Ti-9
3~697
6oq1 136
14.1-..682 64 148~ 23,96} ]0.451 _}L_486__ 15.642 _5.L..25.0
963,925
27.255 72,821
20,667 113,680 33,742 ,39,143 36,429
23,538 218,496 2,085,682
65,663 400~933 35,335 38 '836 34,631
4.36e
61.411_
2,}12
41 q 30
2, 323
4,133
4.205
2.821
206,094
1 ~1616
Non-reserve cash
u. s.
u. s.
Rich.
12,551
3L2J2
48,293
ll:R
99,4Ss
75,990
:h.SlL-.§J 622
c
TOTAL RESOURCES
2,517
64,733 298,202 3,191,145
2,963
1, 596
3,716
7,16:)
2,110
390
2,946
1,503
3,893
39,152
149,580 40,274
52,223 21,546
_5214}1 l§.~.g62
34,191
29,049
28z116
26,935
44,499
111.§6
19,042
65,417
11404
62,515
56,012
21z081
23,075
49,426
2g
3,637
23,212
51
24,812
32,181
la521
3,J.39
18,166
}2,118
20,201
44,137
12141:")0
425,650
458,150
2o4.6gg
73,782 91,956
73,200
1,341
91,363 155,614
72,530
26,900
50,520
7,503
6,388
53,423
6,280
54,632
4,036
254,240
-6o9
5~665
5,244
59,277
265,149
4,434
13, 770
17' 36 7
9,953
39
h.w09
·,·
.:
,,
-~
96,188 102,513
744
9, 754
-.
238
3,039
5
1,630
;~
51
74,541
2,617
92,157 165,283
2,915
8,715
206
266
5,500
~(7(;
) <..:·, 498
76,833 1 : ._;,'
9~ 185
125,224
52,812
211
72,530
34,403
67,380
65,203
1,220
1,842
4,970
1,951
61,098
77,951 35,228 15,571 35,318
2 1 562
611
414
936
318
491
31
434,462 1,391~200 403,694 434,947 239,794 222,103 737,863 194,578 136,484 190,510
55,011
}26
26,319
641
77 '574
14,263
86,023 1, 180,652
3, 011
29,066
2...§5_1
55,943
28
23
57,117
112
SOL067
659
8,570
51~ Red empt ic;>n~fu..."'ld against
F. R. Ja."lk notes
Uncollected items
other resou:eces
58,111 295,685 ), 111,073
40,556
3 1 601
611,271
_:_u~I§_
165.341 435,236 5. Ojl, 26 7
------------------------,..,...,..~~"""'=~~~·~'~·CC,.
~-,""'·~----,T'·~~~~~..,...,"""""""""""~~-)'!-~~~""~-~.,~.7~·
..~<-~
...~
.. -_-~--~""',-:Jr.'~~·~~~~,......,,..,..,....,....,...,.,.,...,..,~-~~~~,-.,.....,.~~
'-:-·,·_;.
--,·-1
i
for publication Friday :r,orning, Novar4lber 2, 1923; not earlier.
RESOURCES AND LlA:OILlTIES Oli" THE FED::.nAL RESERVE BANKS .AT ClOSE OF EUS:NESS OCTOBEE 31,
St. 3 77h•.
1923.
L I ABI L I T I ES
Federal Reserve Bank of
Ca:pikal paid in
Surplus
~osits~
Government
Member bank . ;. reserva account
Other deposits
..
Total d epo sits
F R notes in actual circulation
F.R. Bank notes in circulationnet li e.bili ty
Dt;;+'erred availability items
All other
~labilities
TOTAL LIABILITIES
Boston
7,885
16,312
1,598
133, 49S
190
135,286
219,718
(In thousands of dollars)
Cleve. Ricb. Atlanta Chicago St. Louis
12,242 5, 757 4~435 15,197 4,995
New York Phila,
29,302 9,880
59,800 18,749 23,495 11,288
8,942 30,398
9,665
Minn. Kans,Cy, Dallas San Fran,
3,520
7,473
4,528
9,4S8
4,195 7J790
7,496 15,263
82,0
78.9
6o.6
50.9
78.5
58.4
74.6
57.2
53. 7
44,102
FEDE.BAL
F. R. notes in actual eirculation
523
555,914
23,210
76.3
Conti:i.•gent liabili t~; on bills
purchased for fore::.gn
corre;:::::,onc1 ents
F. R. notes outstanding
F. R. notes held by banks
109,726
218,369
11,188 1:945 2,390 2, 503 2,893 1,267 4,476 3,207 2,316 3,4o6 2.645
40,334
718,144 115,641 155,947 62,031 53,375 264,272 64,100 46,755 73,767 59,147 148,583 1,895,265
13,235
296 1,138
J5J
142 1,217
546
4o2
s·15
262 4,907
23,061
742,567 117,882 159,475 64)685 56' 410 266,756 69,122 50,364 77,158 62.815 156,14o 1,958,660
449,883 2l2,44l 238,830 99,518 132,760 4o6,3o2 73,671 59,126 61,436 57,738 213,392 2,aa4,e6s
523
47,920 43,921 57:0S6 17,937 66,944 35,732 14,436 36,764 30,236 40,543
1,014
4,550 1,322 1,984 1,46o 1,569 2,271 1,393 1,565 1,136 2,288 2,153
434,462 1,391,200
Ratio of total reserves to deposit
ana F. R. note liabilities
combined , per eent
87. 3
Total
244,431
24,713
219,713
RESEE~VE
NOTES OUTSTAliDING AND IN ACTUAL CIRCUJ..ATION
715,714 229,027 266,986109,942151,740 455,443 90,249 62,452 73,18~ 62,018 259,399 2,720,586
265,831 16,586 23:156 10,424 18,930 49,141 16,578 3,326 11,749 4,230 46,007 495,721
449,333 212,441 238,830 99,518 132,760 4o6,302 73,671 59,126 61,436 57,788 213,392 2,224,865
DISTRIBUTION OF BILLS, U. S, CERTIFICATES OF INDEBTEDNESS .AND 1/lUNICIPAL W.ARRANrS BY Nl.ATURITIES
15 days
594,529
64,130
6,274
Within
::Bi 11 s discounted
Bills l::ought in open market
U. s. Certificates of indebtedness
MUnicipal warrants
16
to
30
days
266
31
60 days
121,353
53,832
4,214
10
to
61
to
90
days
25
31
From 91 days
to 6 months
17) 124
4,368
3 '749
10
Over
6 month::>
523
1
Total
883,800
204,698
14,263
317
Released for pu)lL.:a".i on, Friday morning, November 2, 19C-.3; not earlier ..
St. 3 77ld
FEDERAL RESERVE AGEJ'I·S 1 ACCOUNTS AT CLOSE OF EUSINESS, OCTOBER
31, 1923.
(In thousands of dollars)
Federal Reserve
A~ent
at
RE S 0 U RCE S
Federal Reserve notes on hand
Federal Reser7e notes outstanding
Collateral security for Federal
reserve notes outstanding:
Gold and gqld certificates
Gold rederr:Pti:.on fund
Gold fund ~ F. R. Board
Eligible paper AillOtmt required
Excess a~ount held
TOlJIJ\L
Boston
New York Phila.
Cleve.
Rich.
Atlanta Chicago
St.Louis Minn. Kans.Cy. Dallas San Fran.
Total
33,750
244,431
313,260 46,000 29,420 27,530 75,342
715,714 229,027 266,936 109,942 151,740
132,200 24,390 11,0?5 36,063 25,414 65,300 370,224
455,443 90,249 62,458 ·7J11S"S 62,018 259,399 2, 720,536
35,300
153,000
2,400
235,531 7,000 3,730
27,319 11,931 14,413 2,493 5,263
371,000 147,389 135,000 45,795 53,000
11, OtO 13 05 2
71 391
320 534
9,233 2,255 2, 734 3,271 3,647 15, 7o6 116,669
391) 645 22) 000 23,000 31,360 17,500 202,790 1,643,479
38,337
16,295
31,364 62,707 58,793 61,649 36,077
149' 156 5,693 31,555 9,953 5,606
100,~ 17,562
17,794
1
t
~~
54,510/54,914 23,616 38,554 33,430 40,903
1,336 19~337 18,939 35,153
634,904 7~
412,6~
_5s_s_,_90_7~l_,s_9_3_,8_4_4_5_o_9_,7_5_2_5_9_4_,9_4_7_2_5_7_,_37_2~33_4_,4_2_3~1-,1-4_4_.o_~~2-~_2~,4.50 137,345 2~,270 163,439 619,756 6,724,~
~
~¥
L I ABI LI T I E S
Net amount of Federal Reserve
notes received from Comp~
troller of the Currency
Collateral received from
Federal Reserve Bank:
Gold.
Eligible paper
TOTAL
c.
323,131 1,023,974 275,027 296,406 137,472 227,082
537,643 114,639 73,507 109,248 87,432 325,199 3,590,810
~?../
I
206,034 . 634,350 166,320 208,193 48,293 65,663
54,632 230,520 66,405 90,343 71,607 91,633
4oo,~~/
155.
538,907 1,39J,SlJ.4 509,752 594,947 257,372 384,428 1,144,0
~
35.335 38,836 34,631 28,538 218,496 2,085,632
72,476 25,502 53,391 52,469 76,061 l,047,5S8-7£
222,450137,345 202,270163,439 619,756
6,724,0~
·~
@FedFRASER