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STA"i'EMENT FOR THE PLESS
Released for publication
Friday morning,; Oc:t. 12;
not earlier.
St. 3733.
Feoaral'Reserve Board,
·October 11, 1923.
OO.J>."DITION OF FED.KRAL EESEL'VE J:.:.NKS
Increases of ~16,300,000 in Federal reserve note circulaticn, of $5,900,000 in
cash reserves, El.no of :$9,500,000 in acc.eptances purc~h::l.sad in open market, as against
a decline of $12,600,000 in holdings of dist~ounteo bills, are sho·VIn in the Federal
Reserve Board 1 s 'Jreekly consolidated bank staten.ant issued as at close of business
October 10, 1923. Deposit liabilities qeclined by ~30,500,000, while the reserve
ratio rose frotn 75.8 to 76.1 per cent.
Larger holdings of discounted bills, by ~7,700,000, $4,300,000 and $3,000,000,
respectively, are reported by the FeJeral reserve banks of Cleveland, .Atlanta, and
Philadelphia. The banks at San Francisco, St. Louis, Boston, Chicago, and Dallas
show reductions, of $9,300,000, $5,300,000, $4,300,000, $4,200,000, and $4,00Q,OOO,
respectively, in· their holdings of discounted bills, while the remaining four banks
report smaller changes for the week. Federal reserve bank noldings of paper secured by U. S. Govermlm1t obligations increased by $6,100,000, the total hol:dings on
October 10 being $4o6,300,000. Of this runount, $261,4oO,OOO vva.s secured by u. S.
bonds, $130,200,000- by Treasury notes, and $14,600,000- by certificates of
indebtedness.
Increases in Federal reservs note circulation are reported by all Federal reserve banks except those at New York and Kansas City, which show small de,~line3.
The largest inc.rease sin note circulation, by $6,000,000, ~3, 700,000 and $2,800,000,
are shown for the Federal Reserve Banks of Cleveland, Philadelphia and :Ooston,
respe~tively.
Gold reserves increased by ~6,6oo,ooc during the week, fflhile ·
reserves other than gold de(~lined by $600,000, and non-reserve ~ash- by ~~3,400,000.
In~reases of $11,200,000, $7 ,90C,OOO and $3,800,000 in gold reserves are reported
by the Federal reserve banks at San Francisco, ili.c:C..r:-.ond and St. Louis, respectively
while dec~eases of ~10,000,000, ~2, 700,000 and f2,5QO,COO are shown for llew York, '
Minneapolis and Chicago.
A summary of changes in the princip.al assets and liabilities of the reserve
banks, as compared with a week and a year ago, follows: .
In~rease or
Decrease
In rr.i llions of dollars
since
Oc~t. 3. 1923 o~t. 11 , 1922
To tal reserves •
Gold reserves
..
Total earning assets
Discounted bills, total . . • • . . . . .
Se~ured by U. S. Governnjent obligations
Other bills discounted ,
Purchased bills
... .
United States securities, total
Bonds and notes ·, • • . • • .
U. S. Certificates of indebtedness
w.
.
..
+
+
5.9
6.6
6.4
- 12.6
+ 6.1
- 18.7
.
+
16.1
32.4
- 102.4
+ 344.2
+ 174.0
+ 170.2
9.5
64.2
3.3
2.8
- 382.7
- 149.3
233.4
Total deposits • . • . • •
Members' reserve deposits • .
Government deposits • • •
Other d epo si ts . • • .
- 30.5
20.2
9.9
Federal Reserve notes in circulation
+ 16.3
+
.4
+
+
16.5
27.0
7.7
2.8
31.5
.!
Released for publicaticn Friday morning, October 12, 1923; not earlier
RESOURCES PND LIA3ILITIES
OF TBE T\~LVE FEDEPAL RESERVE BANKS COMBINED
(In thousands of dollars)
RESOURCES
Oct. ·10, 1923
Oct. 3. ]ag} Oct. 11, 1922
Gold and gold certificates • . • . .
$265,341
$364,693
$357,185
Gold ·settlement fund - F. R. Board
643,874
623,054
570,599
Total gold held by banks .
1,001,059
335,940
987,747
Gold with Federal Reserve Agents •
2,055,663
2,192,940
2,074, 372
Gold redemption fund ••
61,100_
59,108
60,275
Total gold reserves
3, 059,980
3, 115,830
3, 122,394
Reserves other than geld
72,160
120,037
71? 529
Total reserves
Non-reserve cash • • . . • . • .
Bill~ discounted:
Sec. by U.S. Government obligations
Other bills d iscount~d • . . . • • •
:Bills bought in open market
Total bills on hand
.,
..
U. s. bonds and notes • • • . .
U. s_ Certificates of indebtedness
M:micipal 11varrants • • . •
Total earning assets
.. . .
.
3,193,923
63,932
3,187,990
72' 354
406,269
462, 748
4ooj 153
481,503
172, 90~
1,054,563
89,628
5,514
_____211
~,407
1, 051,424
232,280
292,506
246,620
771,406
236,145
238,419
15
1,245,935
44,605
86,808
5,075
317
1,143,624
1,150,022
55,202
55,173
2C
5,121,457
28
663,548
13' 118
__.___
5,142,233
5, 168,870
109,676
218' 3£$
1~9, 669
218 369
106,271
215,398
20,151
1,863,850
21,754
30,065
1,884,046
22,126
1, 890,841
1,905, 755
1,936,237
1,922, 225
280' 580
2, 272,303
2, 320,115
net lia~ility .
. .•••••
Deferred availability items ••
All· other liabilities • • •
480
576,277
22,320
485
5S3, 742
21,423
537,899
TOTAL LI1~ILITIES • • .
5,121,457
Bank premises • • . . • • • • . • . •
Redemption fund against
F. R. Bank notes •
Uncollected items • • •
All other resources
5%
TOTAL RESOURCES
L I A3 I L ! T I E S
Capital paid in • • • • •
Surplus • • • • • • • • .
Deposits:
Government • • • • • • • • •
• •
Member bank - reserve account • • . •
Other deposits • . •
Total deposits
.
..
.
F. R. notes in actual circulation
F. R. :Bank notes in circulation -
646,278
13,470
2,
Ratio of total ressrves to deposit and
F. R. notes liabilities com.:Jined .. •
76.1;,;
Contingent liability on bills purchased
for foreign correspondents • • •
36,015
3, 764
649,3~5
_
J
15,ll4
12,457
13,927
42, 715
24,247
5,168,870
)-4 ' 276
*Not shown separately prior to January, 1923.
c.
31,832
Released for publication Friday morning, October 12, 1923; not earlier.
'"
St.
RESOURCES .AND LIABILITIES OF THE FEDERAL RESERVE BANKS AS AT CLOSE OF BUSINESS, OCTOBER
3733b
10, 1923.
(In thousands of dollars)
RES 0 U R C E.S
Federal Reserve Bank of
Gold and gold certificates
Gold settlement fund - F.P.. Board
Total gold held by lbanks
Gold with F. R. Agents
Gold redemption fund
~otal
gold reserves
Reserves other than gold
Total reserves
Non-resarve cash
Boston
20,457
60.295
80,752
198,759
13,8?9
293,340
3,784
297,124
15,676
Bills discounted:
Secured by U, s. Govt, obl ig,
Dthe:r. bills dis counted
Bill a bought in open market
Total bills on hand
u. s.
u.. s.
bonds and notes
Cartificates of inde otadneSS
Municipal warrants
Total earning assets
Bank premises .
Redemption fund against
F, R. Bank notes
18,900
30,767
8,903
58,570
3,568
250
62,338
4,434
New York
Phila.
178,293 37,069
143~46
33.~30
321,939
634,657
7,010
963,606
16,603
980,209
9,837
70,499
171,313
11,000
252,812
10,650
263,462
1,848
Cleve.
Rich,
13,157 11,974
Atlanta
6,562
99.662~8~7~0--=10,189
112,819
207,493
2,470
322,782
3,910
326,692
2,829
48,344 16,751
36,952 73,248
),611
3:a2_8
89,407 93,957
2,398 4~599
91,805 98,556
1,371
7,864
32,945 28,632 18,042
26,564 45,328.57,122
28,206
915 9 •0 26
8 7, 715 74,f:i75 &4,190
26o
9,953 1,341
17
336
51
244,637 90,137 93,004 76,216 84,518
13,396
744 9,684 2,617 2,828
146,344 36,529
58,703 18,356
32,741 17,8·44
237 '783 72,729
5,176 17,367
41
1,673
Chicago
47,926
94,876
142,802
401,276
2,475
546,553
8,194
554,747
6,112
St, Louis Minn. Kans.Cy. Dallas e·a..'1 Fran.
4,389
22.920
27,309
35,495
3,156
65,960
9,968
75,928
7,328
8,622
20,()8'5
23,607
3-/,658
2,521
69,786
1,006
3,399 11,433 21,412
34,427 15.506_2~2!t3
37,826 26,939· 71,660
41,753 26,898 208:870
3. 713
4,418 2,114
49,714 22,174
8,646" 19,203 2,057 23,081
4o6,269
51,382 48,258 20,771 30,739 20,363 53,895
462,748
4~9...__ _._7..._____ _5!.::.1'--..:::2~,2~1!:...15~2:.J.7..a..:.9z.~66~-=l::!:.lc•8=.L7.:!.4___l,g8~2..L,4o'f::LL7
143,755 70,439
ej,470 52,157
6,280 9,135
86,808
6,555 3,663 13,867 9,583
215
20
178 2,345
5,075
-266
317
62,189
59.511 98,035 1,143,624
150,525 74,107 43,357
55,202
1, 755 4,970 1,952 2,952
8,715 1,155
All other resources
TOTAL RESOURCES
c.
28
56,287
125
130,33& 55,275
1.211
a;·4
62,304 6;;,831 25,225
_.321
619
66o
364,693
623,054
987,747
2,074.372
_____6~g]l_
83,997 55,951 264,243 3, 122,394
2,556 6,204 1,657__ 71,529
86,553 62,155 285,900 3,193,923
1,531 !!,502 2,315 7t719
68,932
5%
Uncollected iterrs
Total
79,739 42,286
484
103
17,453
g._379
23
37,140 33,295 43,055
692
2,903
3,684
646,278
13,i£ZQ_
436,034 1,379,678 411,750 499,834 236,459 219,651 800,322 200,912 137,267 196,046 162,159 441,345 5,121,457
St. 3733c
Friday morning, o~~tober 12, 1923; not earlier,
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAN{S .AT CLOSE OF BUSINESS OCTOBER 10 1 1923.
LIABILITIES
(In thousands of dollars)
Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total
Boston New York Phila. Cleve.
Federal Reserve_ Bank of
5,74o 4,426 15,194 5,013
3,520 4,554
29,302
9,865 12,242
4,189
7,759
109,676
7,867
Capital paid in
23,495
11,233
8,942
30,393
9,665
7,473
9,483
7,496
15,263
213,369
16,312
18
'749
59,800
Surplus
Deposits:
337 2,146 1,168 1,410 1,937 1,502
713
1,867
20,151
1,430
5,349
1,336
951
Government
Member bank ~ reserve acc.ount 123,607 693,640 114,837 159,069 63,591 51 ,273 266,221 66,544 47,846 75,942 54, 153 14 7 , 12 7 1,863,850
148
129 1,246
472
229
455 1,060
12,553
4,318
273
334
21,754
532
Other deposits
125,315 711,542 115,629 162,275 64,907 52,812 269,404 68_,513 48,898 77,425 55 I 718 153,312 1,905,755
Total deposits
:Released fo.r
public~a.tion
F.R, notes in actual circulation 232,514
F.R. Bank notes in circulationnet li&bi li ty
Deferred availability items
All other liabilities
TOTAL LIABILITIES
471,073 216,938 247,896 95,046 133,426 415,859
58,272 220,293
2,288,580
480
103,571
48,808
52,051
4,390
1,761
1,375
58,101 13,689
1,377
1,356
67,325 41,269
2,142
1,368
480
16,430 4o,629
33,796
42,545
576,277
1,098
2,208
2,173
22,320
1,609
436,034 1,379,678 411,750 499,334 236,459 219,651 8oo,322 200,912 137,267 196,o46 162,159 1+41,345 5,121,457
Batio of total reserves to deposit
and F. H. note liabilities
combined, per cent
33. 0
32.9
Contingent liability on bills
purchased for foreign
correspondents
11,993
F. R. notes outstanding
F. R, notes held by banks
75,074 59,33 7 62,852
247,496
14,982
F. R. notes in actual circ:ulation232,514
79.2
79.6
57,4
52.9
31.0
52,9
65.4
61.7
54.5
76.5
76.1
3,159 3,967
1,910
x,506
5,106
FEDEfuiL RESEI;VE NOTES OUTSTANDING AND IN
726,904 231,021 269,605 103,020 149,006 464,249
7,974 15,580 48,390
255,831 ll..i,083 21,709
1,616 1,249 1,579 1,322 2,6os
36,015
ACTUAL CIB.CULATION
90,950 62,024 73,297 63,338 253,974 2,739,884
451,304
15,876 2,687 10,445 5,066 38,681
471,073 216,938 247,596 95,046 133,426 415,859
75,074
59,337 62,352
58,272 220,293 2,283,530
DISTRIBUTION OF BILLS, U, S, CERTIFICATES OF INDEBTEDNESS AND Iv1UNICIPAL W.l\.RRANTS BY MATURITIES
.
From 91 days
W~ thin 15 days
16 to 30 days 31 to 60 days 61 to 90 days
to 6 xr.onths
Over 6 months
Total
578,169
80,062
121,313
75,599
13,038
Bills discounted
286
369,~~7
Bills bought in open rr1arket
6i:~~~
27,447
42!;~~
43,~~\
~:Jlli
21
18~:~~
V~ $ .. Certificates of in~ebtedness
warrants
Digitized formurucapal
FRASER
.
St. 3733d
Released for publication Friday motning, Octobar 12, 1923; not earliar.
FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, OCTOBER 10, 1923.
Federal Reserve Agent
(In thousands of do1lo.rs)
3oston New York Phila.
Cleve.
Rich. Atlanta
RESOURCES
Federal Reserv·e notes on hand
Federal Reserve notes autst~~ding
Collateral security for Federal
reserve notes outstanding:
Gold and gold certificates
Gold redemption fund
Gold fund - F. R. Board
Eligible pa~er .Amount required
Excess amount held
37,350 . 313,260 50,400 31,420 24,390 75,262
247,496
726,904 231,021 269,605 103,020 149,006
35,300
10,459
153,000
235,531
7,000
3,780
23,126 13,924 13,713
371,000 150,339 135,000
3,157
33,795
2,400
7,348
6},000
Chicago
St.Louis Minn. Kans. Cy. Dallas
115,400
464,249
24,390
90,950
10,605
62,024
35,313
73,297
9,631
391,645
11,030
2,415
22,000
13,052
1,006
23,000
3,393
33,360
62,973
30,534
55,455 24,366
14 s-4
3,973
' I
San Fran.
Total
25,454 67,6co
36o,s44
63,333 253,974 2, 739,634
31,544
20,247
LIABIJ;,ITIES
Net amount of Federal Reserve
notes received from Comptroller of the Currency
334,846 1,040,164 231,421 301,025127,410 224,268
Collateral received from
Federal Reserve Bank:
Gold
Eligible paper
193,759
53,570
TOTIlL
c.
634,657 171,313 207,493
210,012 62,779 36,920
36,952
72,337
73,243
s4, 120
579,649 115,340
72,629 lwPS,610
S£,792 326,574 3,600,723
4o1,276
143,557
37,653
23,339
26,395 208,870 2,074,372
50,322 37,963 1,007,544
35,495
70,329
41,753
51,791
592,175 1,334,833 515,513 595,433 237,199 381,636 1,124,432 221,164 138,626 202,154 166,012 623,412 6,662, 644
@FedFRASER