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STATEMENT FOR THE PRESS
•
Released for publication
~·rltl~ ·morning, Nov. 23;
not earlier.
CONDitiON OF FEDERAL
St. 3803
Feoe ral R·.3 serve Board,
November 22, 1923.
RESE!C":.:~
Blll'UCS
Further declines of $44,900, OCO in holdings of discounted bills and of
$40,0CO,OOO in Federal reserve note circulation, together with a. reduction of
$17,000,000 in Government security holdings and an increase of $16,100,000 in accet:·tances purchased in open market, are shown in the Federal Reserve Board's weekly consolidated statement of condition of the Federal reserve banks at close of busines,
November 21, 1923. Deposit liabilities show a decline of $41,000,000, as against an
increase of $73,000,000 reported for the preceding weak, casn reserves increased by
$3,500,000, and the reserve ratio rose frcm 75.6 to 77.1 per cent,
. ..
A decline of $36,6oo,ooo in holdings of discounted bills is shown for the Federal reserve bank of New York. The reserve banks of Cleveland and Philadelphia show
reductions of $10,000,000 and $5,500,000, respectively, while the banks at Richmond,
St. Louis, Dallas and San Francisco report a net liquidation of $11~000,000 in discounted bills.
The Chicago reser7e bank shows an increase of $10,200,000 in discount
holdings, as against a reduction of $22,800,000 for the week precediDg, Atlanta reports an increase of $4,900,000, and Boston, Minneapolis and Kansas City - a combined increase of $3,100,000. Paper .sacured by U. S, Government obligations declined
by $31,900,000, and on November 21 aggregated $341,600,000. Of this amount,
$2C9,000,000 was secured ';;y LiJarty and other U. S. bonds, $117,200,000,·- by
Treasury notes, and $15,400,000- bY. certificates of indebtedness.
All Federal reserve banks shiw smaller Federal reserve note circulation.
the total decline of $40,000,000, New York reports $lo,6oo,ooo, Cleveland $9,400,000, and Philadelphia- $8,500,0QD.
Of
Gold reserves increased by $1,400,000 during the week. The movement of gold
through the Gold Settlement fund was largely to New York, that bank reporting an increase of $50,800,000 in gold reserves. Small incraases aggregating $3,800,000 are
shown for Kansas City and Richmond. The Federal Re~~er1e Bank of Chicago reports the
largest decrease - $15,500,qpo, Boston shows a reduction of $10,300,000, and Itlanta
2Jld Minne""polis reductions of"$8,800,000 and $4,500,000, respectively.
A summary of changes in the principal assets and liaoilities of the reserve
banks, con-pared with a week and a year ago, foll ovvs:
Increase
or Decrease
In millions of dollars
since
No•1. 14, 1923 Nov. 22, 1922
.8
+
3-5
1.4
+ 52.1
+
Total reserves •
·Gold reserves
Totnl earning ~ssets
Discounted bills, total .• • . •
• • .
Secured by U. S. Government obligations
Other bills discounted • • . , . • • . •
Purchased bills • . . . •
..
46.0
44.9
+
United States securities, total •••
Bonds ~d notes • • • • • . . .
.
U. S. Certific~tes of indeotedness •.
Total deposits • , • • • • • • • • . •
Members' resarve deposits • • • . • • .
Government deposits • • • • . • . . . .
Other deposits . . . . . . . . •
I
Feder~l
Reserve notes in circulation
c.
+
62.6
31.9
13.0
+
132.0
33-7
98.3
16.1
+
27.1
17.0
10.3
6.7
• 221.7
L+l.O
22-3
18.9
+
+
51·5
62.0
.2
+
14.1
3-6
40.0
+
+
83.4
138-3
76.)
Released for publication Friday morning, Novemb·er 23, 1923; not earlier.
St.3803a.
RESOURCES AND LIABILITIES
OF THE TwELVE IiEDliltAL RESERVE B.Ai'lKS OOMBI NED
(Ih thousands of dollars)
RESOURCES
Gold and gold eertificates • • • • •
Gold settl~ent fund - F. R. Board •
Total fP1d held b:y banks .
Gold with Federal Reserve Agents • , •
Gold redemption fund • • • • •
Total gold reserves • •
Reserves other than gold •
Tbtal reserves • • • • •
Non-re~erve cash • • • • • . •
Bi 11 s d1 s('.crun ted :
Sec.. by U.S. Government obligations
Other bills discounted •••
Bills bought in open market • • • •
· Total bills on hand • • • • •
U. s.. bonds and notes . • • . . • •
U. S. Certificates of indebtedness •
Municipal warrants • • • • . • • • •
Total earning as sets • . .
Bank premises • • • • . • • . • . .
5~ Redemption fund against
F. R. Bank notes . •
Uncollected i teD'ls • • • • • . .
All other resources • . • . .
TOTAL BESOURCES ••
..
•
... .
•.
Nov, 21. 1923
376,216
600,741
976,957
2,098, 784
59.715
3,135,456
77,425
3,212,881
71,881
Nov. 14. 1923
388,047
584,o46
972,093
2,107,168
54,748
3,134,009
75.370
3,209,379
72,860
Nov. 22,19~
284,750
651,862
936,612
2,077.582
69,131
3,083,325
130,358
3,213.683
•
•
373,536
417,576
268,450
1,059.562
78,657
11',663
317
1,150,199
56,162
307,976
306,215
257,4o5
871,596
151,731
143,388
27
1,166,742
46,204
3,410
684,519
14,6o5
5,139,973
28
787,899
13,945
5,290, 472
5,129,163
110,103
218,369
110,023
218,369
106,495
215,398
Goverilll'lent . .. . • . • . . . •
Member bank- reserve account •• • •
..
Other deposits • • • • • • • . .
26,072
1,891,027
' 24,380
44,911
1,913,355
24,165
4o,198
1,82.9,069
20,721
Total d eeosi ts • • • • • •
F. R. notes in actual circulation • • •
F., R. Bank notes in circulation net liability • • • • • • • • . •
Deferred availability items
All other lia.bili ties ••
TOTAL LIABILITIES • . .
1,941~479
1,982,431
2,263.048
1,889,988
2,299.391
507
691,589
24,505
5,290,472
26,220
564,796
26,875
5,129,163
•
341,635
4o4,553
284,554
1,030,742
68,332
5,031
•
51
..
..
LIABILITIES
Ca.pi tal paid in • • • • • . • • • • . •
Surplus • . . . . . . .
• , . . ,. . •
Deposit~:
..
....
Ratio of total reserves to deposit and
F.R. note liabilities combined • • • •
1,104,156
56.559
28
6S0,64o
13,828
2,223,074
502
621,692
24,754
5,139,973
77.1%
Contingent liability on bills purchased
for foreign correspondents • • • • . •
*Nbt shown separately prior to January 1923.
75.6%
35,709
:cr P'..:tbl~-~aticn Friday rr.orning, November 23, 1923; not earlier.
St. 3Z..-:.j';
RESOlJRCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AS AT CLOSE OF BUSINESS, NOVEMBER 21, 1923.
(In thousands of dollars)
E S 0 UR CE S
Cleve. Rich. Atlanta Chicago
13,693
7,534 6,263 49,499
393 ~4L.H~3 96,823
91,086 36,382 18,846 146,322
213,112 64,377 70,600 4o0,530
3.933 . 5,481
2.431
~
306,635 105,747 94,927 552,423
5.032
3.891 6.895 8.}o9
311,66 7 1C9 I 633 101,322 56o, 732
1,764
7,445 6,545
4,305
R
Boston New York
Federal Reserve Barik of
188,266
21,307
Gold and gold certificates
1}4,o48
Gold settlement fund - F.R.Board 60l551
322,314
81,858
Tot a.l gold held by banks
634,053
Gold with F. R. Agents
167,995
8,645
z~66s
Gold redemption fund
Total gold reserves
258,498 964,036
11.202
6.001
Besarvc:s other tb<:-:;;"1 gold
264,499 981,238
Total rs3erves
Non-ra~ ._.,..·.;a cash
-9, 798
15,597
Bills discounted:
Secured by U.S. Govt • ob1 igat ions 191468
86 I 575
31,318
39,070
Other bills discounted
84,420
30,612
Bills bought in open market
81,461
210,o65
Total bills en hand
4,068
3, 349
U. s. bonds and notes
66
2, 750
U. s. C~;rtificates of indebtedness
warrants
Total earning assets
Bank premises
5% Redemption fund against
F'. R. Bank notes
l~icipal
Uncollected i terns
All other resources
TOl'.AL RESOURCES
c.
-
--·---85,597
4,434
Phil a.
39,788
~79
76,467
167,045
8,824
252,336
1.510
259,906
2,513
zz.
37,741 }4,414
13,506 26,127
21.221 28.930
78,468 89,471
12,367 9.953
810
38
24,4ol 23,351
34,122 59,365
2.32Ll0,4o7
60,846 93,123
1,341
250
2
111
216,164 90,873 100,234.. 62, 18 7 93,426
2,924
14,152
2,617
745 9,316
-
46,663
46,039
41.811
134,573
7' 127
1,132
St.Louis Minn.
8,818
4, 703
25.165
30.584
35,287
33,983
46,419
35,120
2~
4.:231
83,027
74,738
1, 303
8.923
83,691 84,330
7,804
1, 729
20,978
49,046
~2
70,046
Kans.Cy.
3,147
40,883._
44,030
32,774
5,2.§:!.
82,065
4.oo9
86,074
Dallas
11,802
14,907
26,709
27,923
lJ 888
56,520
6.202
62,822
3, 745
2,835
5,944 22,308
3,032
18,827 37,445 12,643
51
110 40.886
24,822 6o,463 56,561
7,865
6,548
6,279
231
7,801
71,831
341,635
161 7fo
37,045 404,553
284,554
11,038
70,843 1,030, 742
68,332
9,185
5,031
_21
142,8)2
3, 715
70,046
1,269
32,687 67' 242 62, S4o 80.028 1,104,156
3,029
56,559
1,953
1,935 4,970
28
37,816
138,700 59,287 671130 65,403 29,443 85,892
61,729
257
__51..0
}94
168
669
1.011
49
412
432,024 1,361,129 413,581 493,546 242,119 235,729 805,191 200,675
-
San Fran. Total
21,396 376,216
6oo.z41
4h111
63,173 976,957
238,286 2,098,784
3.~.042
29.1.!2_
304,504 3,135,456
1,958 ___1I~g5_
306,462 3,212,381
28
6so,64o
17,26o 39,972 31,964 46,044
822
},6o1
13.828
2.581
31222
140,522 202,825 165,667 446,965 5,139,973
Released for publication Fridti\Y morning, November 2}, 1923; not earlier-~
RESOURCES AND LIABILITIE.:S OF THE FEDERAL RESERVE BANKS It!' GtiOSI. OF .BUSINESS NQilEI.~.3R'l2l.i
St. 330Jc
19'23·
LIAB1LlTIE~
Federal Reserve Bank of
Capital paid in
Surplus
Deposits:
Government
Member bank - reserve account
Other deposits
Boston
7,890.
16,312
2,128
124,429
f
186
126,743
Total deposits
F.R.notes in actual circulation 220, 3&:.3
F.R.Bank notes in circulation net liability
Deferred availability itema
All other liabilities
~OTAL
LIABILITIES
New York
29,Al09
59~800
{In thousands of _d ol1~}
Cleve. Rich. .Atlanta Chic.ag~ St. Louis M:Uln. Kana.Cy. Dallas San Fran. Total
12,348 5.755 :)4~43• . 15,.a24
5.007 3,498 4,548 4, 196 1, 863 110,103
9.931
18,749 23,495 11.288
8,942 30.398
3,829 l, 689 1, 718 1,536 1,832 }, 383
699,80} 116,246 157,339 61,489 53,520 277,146
14,277
}88 1,121
163
192 1,2~9
717,909 118,323 160,178 6},188 55,544 281,758
43},}15 212,679 2}6,817 100,907 143,669 401,919
9,665
9,488
7,473
7,496 15,263
218,369
26,072
2,469 1,173 1,911 1,834 2,570
65,2SO 46,611 77,921 56,230 151,013 1,891,027
388 4,822
24,380
456
419
739
68,168 50,240 80,571 6o, 452 158' 405 1,941,4 79
74,808 61,124 6},957 56,810 216,700 2,223,074
..
502
502
59,496 115,787 51,864 58,555 59,440 21,397 73,471 41,552 16,698 42,949 33,795 46,488 621,692
1,475 1,289 1,312 2,416 2,246
24,754.
1,214
4,909 2,035 2,153 1,541 1,743 2,421
~32,024 1,}61,129 41},581 493,546 242,119 235,729 805,191 200,675 140,522 202,825 165,667 446,965 5,139,973
Ratio of total reserves to depos~t.
and F. R. note liabilities
·
combined, per cant
, ~.2
Contingent liability on bills
purchased for foreip
correspondents
Phila.
66.8
8,041
82.0
59·6
1,144
884
2,236 2,~08 1,352 1Jo66 3,614
FEDF;RAL RE&""''WE NOTES OUTSTANDING AND IN ACWAL CIRCULATION
1,118
77.1
53·6
936
1,846
F. R. notes cutstand.ing
237,632 709,128 235,452 267 ,8o4 112,876 155,042 449.240 92,095 63,925 76,038 60,722 261,550 2, 72l,504
F. R, notes held by banks
17,263 275,813 22, TI3 30.987 ll.<tfa_ 11,373 47,3?1 17.287 2,801 12 1 081 3.912 44,850 498,430
F.R. notes in actual circulation 220,369 433,315 212.679 236,817 100,907 143,669 4ol,919 74,808 61,124 63,957 56,810 216,700 2,223,074
DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS BY MA'lURITIES
Within 15 days
16 to 30 davs 31 to 60 days
61 to 90 days
Fr'om 91 days
Over 6 months
Total
to 6 months
Bills d.iscounted
73,420
108,193
22,889
746,188
831
50,977
41,031
80,488
Bills bought in open market
64,186
284,554
7,855
1,466
U. S. Cart ificates of indebtedness
l
5,031
746
10
Municipal warrants
31
10
51
c.
Raledsed for
pu~:ication,
St. jSC)d,
Friday morning, November 23, 1923; not earlier.
FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, NOVEMBER 21, 1923.
(In thousands of dollars)
Federal Reserve Agent at
Boston New York Phila.
Cleve.
Rich.
Atlanta Chicago St.Louis Minn. Kans.Cy, Dallas San Fran.
Total
RESOURCES
Federal Reserve notes on hand
Fedcr.:1.l Reserve not::;s outstan:Hng
Collatei"al security for Federal
Reserve notes outstanding:
Gold and gold certificates
Gold redemption fund
Gold fund - F. R. Board
Eligible pco,per Amount required
Excess amount held
TOTAL
89,050
237,632
313,260 43,600 52,120 30,840 73,977
709,128 235,452 267,804 112,876 155,042
134,240 24',390 11,285
449,240 92,095 63,925
32,753
76,038
25,094 62,700
393,309
60,722 261,550 2,721,504
35,300
14,695
113,000
2,400
7,000 3, 780
235,531
27,522 13,156 14,332 2,032 6,200
371,000 146,889 190,000 62,795 62,000
11,030 13,052
2,040 1,367 3,414
8,935
391,645~ 22;QOO 32,000 29, 36o
7,391
320,534
4,032 17,600 115,375
16,500 220,686 1, 662,8 75
69,637
11,824
75,075
108,986
t£,407 54,692 47,999 84,442
3,853 32,227 11,437 3,417
43,~ 56,975
35, .)
13,045
17' 506 43,264
5,207 16,769
32, 139 23,264
22,305 47,033
622, 120
366,91{{
or
576,138 1,840,502 518,357 619,955 263,029 392,538 1,118,4~ 221,625 144,342 201,598 168,343 632,383 6,703,23j
~I
olo
LIABILITIES
Net amount of Fcdora1 Reserve notes
received fram Comptroller of the CurT.'8ncy
326,68? 1,022,333 279,052 319,924 143,716 229,019
Collateral received from
Federal Reser'Je Bank:
Gold
Eligible paper
TOTAL
e.
5~3,480 116,%5
75,210 108,791
85,816 324,250 3,61l..~,rs13
"fh
167,995
81,461
634,053 167,045 213,112
184~61 72,260 86,919
64,877 10,600
59,436 92,919
4oo,580
I 35,12o
134,3~
-----------------------------------------
46,419 32,714 27,923 233,286 2,C9z, 784
70,020 22,713 60,033 55,104 70,352 939,6}&~~
576,138 1,840,502 513,357 619,955 263,029 392,538 1,118,4, 221,625 144,342 201,598 163,843 632,888 6, 703,9
0~
~(
@FedFRASER