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STATEMENT FvH THE PRESS
Released for publi8ation
l''riday rr.on-:..ing, Nov. 9i
not earlier.
COliDITION' OF FEDEitAL RESERVE
St. 37SO.
Fed Gral Reserve ?card,
NoveJ.Jbe:c' g, lJ23.
J;~l\:::\:8
f~gregate reductions of $66,300,000 in the holdings of discounted bills, as
against an increase of $43 ,30C,OOO in acceptances pun~hased in open 1.1arket, togethsr
t'v'~th an increase of $4o,700,000 in Federal reserve note cin~lation, are shown in t~~e
I'eaeral Recerve Board's vveekly l~onsolidated statement of c.ondi tion of the Federal r'l1s3rve banks at close of business on November 7, 1923. Deposit liatili ties det~li ne5
by $49,300,000, of which ~21,800,000 represents a decline in Governnent deposits,
total cash reserves increased by $4,100,000, and the reserve ratio s..~o·,r;s a rise fror:'
76. 3 to 76. 5 per cent •
.All Federal reserve banks show smaller holdings of discounted bills except
those at Cleveland, Kansas City, and San Francisco, \Vhich report in~re~ses aggregating
$6,800,000. The New York bank shows the largest decrease - by $27, 4oo ,OOOj Chicago
reports a decline. of $13,100,000, Philadelphia and Ridm1ond- declines of $9,lOO,OOO
eF::::h~ and :Boston - a dec.lir.e of $4,900,000. Paper secured by U. S. Government obligc;.tions decreased by $47,900,000, the total holdingson November 7 baing $377,700,000.
Of t:his amount, ~243,600,000 was secured by Liberty and other U. S. bo~'lds,
$122,300,000 - by Treasury notes, and $11,300,000 - by certificates of indebtedness.
Increased
Feder~l
reserve note circulation is reported by all Federal reserve
~he New York
bs.::1K -ceports •. ,an increase of $5,700,000, :Boston an increase of. $5,600,000, P}J.il~
delphia an in.crease of $4,500,000, ano San Francisco an increase of $4,200,000.
bam~s, the largest increase of $9,900,000 being shown for Atlanta.
Gold reserves increased by $ll ,800,000 during the week, as r.omp3.red v.i th a reduction of $25,300,000 reported the wee:tt before. The largest increase is shOMJ. for
Chicago, vmit~h reports a net inc-.rease of $22,800,000 in golo :.-eserves; Philadelphi :t. 1
Ricbmrm?, and Minneapolis sho-,v inc.re5-8tis of $13,000,000, $::.o,4oo,oco, and $7,500,000,
respec.t1vely. Decreases of $25, 700,/an'd•$14,600,000 in gold reserve:3 <11'e sho-.vn for
tha Federal Reserve Banks of New York and Boston.
A summary of changes in the principal assets and liabili ti8S of the reserve
banks, as compared with a week and a year ago, follows:
Increase
or
Decrease
In millions of dollars
sin<'.e
Ot~t. 31, 1923
Nov. S, 192~
Total reserves .
Gold reserves
+ 4.1
+ 11.8
Total earning assets
Discounted bills, total
Secured by U. S. Government obligations
Other bills discounted • . . .
-
Purchased bills • . .
. .
United States securities, total
Bonds and notes . . . • . . .
U. S. Certificates of indebtedness
Total deposits . • . .
Me:nherst reserve de:posi ts
Governr:1ent depqsi t s
Other deposits . . . .
Federal Reserve notes in circulation
W.
16.0
+
42.2
24.6
r.- -
89.6
Ob,.)
+ 177.0
- 18.4
47.9
+ 77.3
+ 99. 7
+ 43.3
10.6
-
1.5
+
2.1,.
.o
.. 49.3
30.5
-+ 21.5
3.0
+ 4o.7
-
256.3
113.'+
142.9
+ 46. 7
+ 52.5
""""\ 0
j.
+
~
:.c
.
iiJ.. ·~
•
~
Released for publir.ation Friday
!bvember 3 1 13?3; not earlier.
n;or~1ing,
~t.3 780a
BESOUI1.CES AND LIAEILITIES
OF THE TWELVE FFDER~L TIESE~l'I."E T' !SES COI,BINED
(In thousands of dollars)
RESOURCES
Or.t • ..l!..t..J-923
Nov, 7, l9g)_
. . . .. ..
.. .
, . . . .. .
Gold and gold certificates ,
Gold settlement fund - F. B.
...
3731643
573,514
947,157
.. 2,107,970
. . . • 67,789
. . 3,122,916
' ' ' 721325
. 3.195,241
63,172
354,739
609,186
963,925
2,085,632
61,471
3,111,078
80,067
3,191,145
39,152
377 J 705
439,747
248,028
. 1,065,480
75,440
14,852
317
. 1,156,089
55.954
425,650
453,150
1,083,498
77,574
14l263
-.__317
1,180,652
55,943
300,337
340,075
258,656
899,068
188,821
157,768
27
1,245,684
. 45,420
28
588,520
14,019
.. 5,078,023
28
611,271
13,076
5,091,267
3,635
583,827
15,611
5,105,459
. 109,835
2181369
109,726
218,369
106,355
215,398
18,485
11864,808
26,090
1,909,383
. . 2,265,556
4o,334
1,895,265
23,061
1,958,660
21224,865
26,4o2
1,812,051
24,235
1,862,688
2,34o,074
523
32,441
522,564
25,939
5,105,459-
~oard
Total gpld held by banks .
Gold with Federal Reserve Agents
Gold redemption fund • .. .
Total gold reserves
Reserves other than gold
.
Total reserves
Non-reserve cash , . • .
Lills dis~ounted:
Sec, by U.S. Government obligations •
Other bills discounted , , . • . . • ,
Bills bought in open ffiarket
..
Total bills on hand
U. s. bonds and notes
. . .
U. S. Certificates of indebtedneG~ .
Munidpal warrants . . .
...
.....
TOTAJ., RESOURCES
L I A TI I L I T I E S
..
Capital paid in . , , • .
Surplus • . . . . . . . .
.Deposits:
.
Govern~ment . . . . . . . . .
Member bank - reserve a('.(~ount
Other deposits . .
Total deposits
F. R, notes in actual r.ireulation
F. R. :Sank notes in c~irc-.ula.tion net li~bility . . . . . •
teferred availability items
All other liabilities
.
TOT1\L LIAJILITIES . . . .
Ratio of ~otal reserves to.o~osit and
F. R. note liabilities combined
Contingent liability on bills purchased
for foreign correspondents
204,693
---::~
Total earning asGets ,
:Sank premises , . , . • .
5% Redemption fund against
F. R. :Sank notes
Uncollected items
JUl other resources
8, 192i
267,207
648,429
915,636
2,094,050
71,069
3,030,755
130,527
3,211;282
Nov.
517
550 1 ~
(,O
- -2~
- - 3 J~
5,078,023
b
L;1 555,914
23,210
5,091,267
*
76.5%
76. 3~{.
76.4%
38,946
44,102
32,475
*Not shown se-parately prior to January ,1923
St. 375C':J
Released for pub1icaticn Frid.:zy morning, Ho7ember 9, 1923; not earlier.
RESOURCES .AND LIABILITIES OF THE FEDERAL RESERVE B.ANKS AS- AT CLOSE OF 3USINESS, NOVEMJ?ER 7, 1923·
(In thousands of dollars)
Boston New York Phil a. Cleve.
Fedt:lral Rese-rv·e Bank of
21,463
Gold and gold certificates
184,173 38,324 13,459
Gold settlement fund - F.R.Board ~.347
lCA .213 42,981 84.344
66,815
Total gold held b,y banks
293,486 81,811 97,603
202,350 634,223 171,600 206,334
Gold with F •. R. Agents
s.g4L.J.g.2o6
Gold redemption fund
16.269
3,342
Total gold reserves
285,434 933,650 265,617 307,982
Reserv0s other than gold
--2.:.9_69
14.823
4.561
5.245
Total reserves
291,403 948,503 270,862 312,543
2,694
Non-re~erve caeh
15,921
7,967 2,506
RESOURCES
Rich- Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total
11, 64& 21,176
4,453
373,643
12,353 6,138 47,671
8, 74 7
2,998
;1.2.:.}2_? 42;626
213. ')14
32~475 11.716 go~ 118 21a184 I~~ 216 · 35.116
24,CVO 63,802
947,157
45,323 23;914 13"7' 849 32,272 41,963 38,114
')9"
..,2
2
....
6
r:::9'
"
'
c:;:;,o,
',_,
'j
2,107,970
57,020 67, 4 70 4CO, 800 34,765 43,351 34,csS
61.1§9_
15 ~2s0 2, g53 2,811 2,46~~039
420C19
2.IZ9
3a9:20
106,447 96,670 541,607 70,914 87 J 774 77,239
55, 251 294,331 3,122,916.
q,061 101429
],41)2 . 6.~79
5.C)8S
2,160
3.101
12.325
<127
109,548 102,658 550,668 81,343 88,701 80,691 61,330 296,491 3, 195,21+1
1,5()4 4,113
1,454
7,286
2,545
68,172
7,294
6,927
7,961
'
rl
Bills dis counted:
Secured by U.S.Govt. obligatiorsl8,771
119,262 35,016 35,939 22,458 19,56o 52,391 21,579
3,613 23,4C9
3,380
21,327
377,705
Other bills discounted
16,859
55,163 17,670 31,539 39,912 62,086 52,491 48,769 20,140 34,939 16,446
43,678
439,747
¥lls ocue;ht in open market
~=13::....5:----o~7..;;8.:..t4~0;:::..7.___..:.19.....,.'-=8;..<.3:::..3_....::2:.:3.:~-,:::..l3.c:::3:__-.:l:.J,_:::3..J..76=--~8......2~6==2~3...6~:..~.·...t.9.4.27-'----.::1~7....~.3___5~1~--'1~,;.::2~6.J...1__....3:..<..3.a.:,2=..J7~.::::3~_,1: ...3~.=-29~6::..__...:2:..:4:..:::::3..t.:•0:::!2:::::8:._
Total bills on hand
61,815
252,837 72,524 95,666 64,246 90,208 142,339 70,521 23,304 59,615 53, 104 76 .sol 1, 065,480
U. S. bonds and notes
3,605
u. S. Certificates of indebtedness lllnicipal warrants
Total earning assets
Bank premises
5% Redemption
65·,420
4,434
5.349
6,300
17,367
38
-
9,953
609
1,341
237
3
7,670
1,213
7,365
473
51
'
~-----------------·-------
265,486 89 '929 106,223 65, 5g 7 90,504 151,227
13,771
744 9, 754 2,617
8, 715
2,918
70,521 31,642
1,220 1,842
fund against
F. R. Bank notes
Uncollected items
All other resources
TOTAL RESOURCES
c.
6,583
206
266
51,933
108,189
50.296
52,301
62,707
27,598
150
1,176
Jl~2
342
551
937
75,722 36,442
466
45
6,2&0
5, 500
9,135
75,440
14,352
317
-------------------~~-
66,675
4,969
64,8&4
1,951
..,
16,4C4
36,562
28
2S,326
2, 615
632
3,093
429,266 1,345,092 414,679 483,362 242,464 231,901 193,725 197,532 142,708 193,692 163,157
37,986
3,019
1,156,039
55,954
41,535
23
588,520
3,620
14,019
Released for publi('.ation Friday n.orning, ITo-ven.ber 9, 1923; not earlier.
RESOURCES .AND LV•.TLI' 'IES OF THE FEDEH.AL RESERYE L.i\NKS Nf. CLOSE OF BUSINESS
lDV~:":"Er,
7, 1923.
L I AE I L I T I E S
(In thousands of dollars)
I
Federal Reserve Bank of
C8:pi tal paid in
Surylus
Delu.nts:
Gov3r:1rcent
Iv~ewb er bank - reserve account
Other deposits
Total deposits
New York Phila. Cleve. Ri~h. Atlanta Chi~ago St.Louis
7,890
29,350 9,880 12,242 5.757
4,435 15,201 4,997
16,312
59,800 18,749 23,495 11,288 8,942 30,398 9,665
Boston
3,502
7~473
4,526
9,488
4,195 7,360
7,496 15,263
Total
109:835
218,369
642
131,139
203
2,326
18,435
3,830 1,035
699 1,363 1,567 1,315 1,274 1,300 1,306 1,323
673,563 115,322 156,485 63,780 52,295 270,136 66,314 51,885 75,387 58,515 149,437 1,864,808
~fl3
4,672
26,090
10,337
134
963
soz
414
722
123
453 1,143
131,939
692,226 119,605 156,663 64,613
F. R. notes in a0tu3.l ('.ir~ulation ~25,290
F. R. :r.an.t: notes in r~ir~ula tior1 net liability
2+6,690
Deferred availability items·
1,095
All other liabilities
TOT1:L IJIFSI LITIES
Minn. Kans. Cy. Dallas San. Fran.
53.781 272,716 68,637
455,559 216,905 241,502 101,149 142,620 4o7,790
103,408 47,614 45~338
4;r49 1,926 2,072
53,573
77,4o9 60,734 155,437 1,909,333
75.528 60,889 62,591
53,167 20,487 65,265 37,292
1,49o 1,636 2,355 1,413
55,161 217,572 2,265,556
517
}S,!+S3 29,722 41,539
1,~
1,195 2,332 2,224
[{,ool
~0
517
tAl
550,~b.,.
2~31~7
429,2661,345,092 414,679 483,862 242,464 231,901 793.725 197,532142,708 193,692 163,157 439,945 5,078,023
Ratio of tot3.l reserves to deposit
at1d F. .i:( note liabilities
31.6
82.6
66.1
80.5
52-3
30.9
56.4
77.5
57.6
52.0
79.5
76.5
3,131
35 ,346
Contir_gent li"lbili ty on bills
pt:.r·c.hased for :foreign
10,109
3,792
4,762
2,293
1,508
6,129
1,94o
1,499
1,896
1,537
F:S:CT£~''1I.
F. E. notes outstanding
F. r.. notes held by banks
F.R.notes in
a~tua1
243,587
18,297
circulation 225,290
P.ES_,_TVE J'\O'l'".:''.S OU'.CST;Jo-TDING AND IN ACTUAL CI!iCUIJ,TION
22s ,500 26~ ,127 112,628 156,382 458 ,2S·6 90,080 64,052 71,639
715,219
259,660 11,603 22,625 11,479 13,762 50,466 14,552 3,163
9,048
455,559 216,905 241,502 101,149 142,620 4o7,790 75,528 60,389 62,")91
62,732 253,132 2, 725,392
4,571 40,610
459,336
58,161 217,572 2,265,556
DIS'IRIDU'l'ION OF J3ILT..S, U. S. CER'iiFI CATES OF INDEBTEDNESS AND l\IIUNI CIPAL W.t\ilE.A.ti'T!: JY i'.'1ATURITIES
Frorr1 91 days
Within 15 days
Total
16 to 30 days 31 to 60 days 61 to 90 days
Over 6 wonths
to 6 ::;onths
Bills discounted
77 ,o64
Sl7 ,452
539,629
llS ,469
18,503
63,135
Bills bou.ght in open market
243,023
38,667
90 l 763
54,936
57) 701
5.96~
U. S. C~rtificates of inde.bt::)dnsss
6,3CO
14,852
4,348
1
3,703
Muni(~ipal -...,rarrant s
-266
317
10
10
31
tt'
'··
St.37eOd
Released for pu.'ulic·.ation, F:.,::.da.y 1r:o:-r:ing, Ncv-e-:nber 9, 1923; not earlier.
'F'EDER.JI.L
Bl~SE.f:VE
AGF...NTS 1 .ACCDUNTS liT CLOSE OF BUSINESS, mVE:I'.>1 ':EH 7, 1923.
(In thousands of dollars)
Federal
R~serve
Agent at
HE SOURCE
-
fJDTAL
A
l'!'ew Yo:;:k
Phil a.
Cleve,
Ri ,iJ.,
l1tlan ta
Chi,~ago
St.Louis Minn. Kans. Cy. Dallas San Frc..n.
Total
s
Federal Reserve notes on hand
Federal Pe~erve notes outstanding
Collateral security for Federal
Reserve notes outstanding:
Gold ar:d gold c.ertific.ates
Gold redemption fund
Gold fund
F. H. 'Board
Eligible paper .Amount required
Excess au.:ount held
L I
Boston
30,850
243,587
313,260 47,800 31,120 24,570 69' :D7
715,219 223,508 264,127 112,628 15(, '382
rl"3 24,034 65t300 851.564
124,200 24,390 5, 970 3. -·( ,·~t>
458,256 90,030 64,052 T"'· J \....r;3o../ 62,732 258,182 2,725,392
35,300
14,050
153,000
2 ,t~oo
235,531 7,000 01730
27,692 12,211 13,054 1,225 4,070
371,000 152,339 135,000 55,795 61,000
320,534
7,391
11,030 13,052
9,156 2,635 2,299 2,726 3,981 14,399 107,548
391,644 21,000 28,000 31,360 17,500 212,200 1,679,333
41,237
20,578
30,996 56,900 57,293 55,608 83,912
140,213 1,101 36 !053 7,270
995
57,456 55.315 20,701 3 7, 553 33,860 31,583
84,735 15,165 1,266 21,908 13,223 46,526
617,422
394,033
533,6o2 1,883,911 505,917 595,427 257,096 333,266 1,125,447 219,715 133,34o 202,249 167,726 623,690 6,696.336
BI L I TI E S
Net amount of Fede:raL :aeaerve notes
rec.ei ved from Comptroller of the Currency
324,437
1,023,479 276,303 295,247 137,193 225,339 582,456
114,470 73,022 105,702 36,766. 323,982 3.576,956
Collate.ral reeeived from
Federal Reserve Bank:
Gold
Eligible paper
\'
-.
202,350
61,815
634,223 171,600 206,834 57,020 67,470
221,209 53,009 93,346 62,378 39,907
400,800 34,765 43,351 34,086 28,372 226,599 2,107,970
142,191 70,480 21,967 59,461 52,038 78,109 1,011,460
TOT.PL
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@FedFRASER