The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
;_/;:' ATEMENT FOR THE PRESS St. 37L~7 Federal Res3r'Ve Beard, October 13, 1923. Released for pu ':>lication Friday morning, Oct. 19; not earlier. COI:'Ili'rTOIT 0? FBDERAL RESERVE BANKS An increase of $6g,5oo,oco in to:;stl derosits, ~f w?ich $51,9~0,0CO ~as in reserve deposits· of member banks, ·coget~.er v:nh decreases 01 $lo,200,0CO m Federal reserve j note circulation, a.."1d o:: ~4,200,000 in total earning assets, is shown in the Federal Raserve Board's weekly consoliciated statement of;' condition of the Facleral reserve 1 banks at close of business on C~tober 17, 1923. Total reserves of tne Federal reserve l banks increased $4,100,000, while the reserve ratio, largely in couseq_uence of the in- j creased deposits, declined from 76.1 to 75·3 per cent. · I Discounted bills held by the Federal reserve bc-mks decUned ':Jy $14,500,000 during the week. One-half of the b:tnks rsported smaller holdi~gs of d:i sc~unted. bills, the principal decrease of $34,200,000 oeing reported b~,' the Federal Reserve Eank of New York. The Banks at Chicago, Kansas City, Philadelr.:;lia, ClevGl,1Xld, Atlanta and St. Louis report increases in holdjngs of discounted bills, the latgE'nt increase of $14,000,000 being shown for the Federal Reserve Bank of Chicago. Paper secured by Government obligations decreased by $20,100,000 ar:d on October 17 c.ggtegated $386,200,000. Of. this amount $233,)00,000 was secured by United States bonds; $140,700,000 by Treasury notes, and $12,200,000 by certificates of indebtedness. Federal reserve note circulation decreased frorr; $2,288,600,000 to $2, 272,400,000~ ·Jfua''thres:Rastern b.s.nka, also the Cleveland and Chicago banks show smaller totals than the week before. The largest decreases for the weel:~~$8,600,000 and $6,300,000. are reported by New York ar.d Cl.~veland. Gold reservas of the Federa] reserve banks increas.;;d by $2,800,000!.' 'l!he largest increases of $7,900,000, $4,/(\:;,oo.-.1 , $4;)00,000 and $lQ,800,000 are repurted by the Boston, St. :Louis, Dallas arA'• ~>:tn JC'rancisco Banks, raspectively. Dc:creases of $9,300,000, $9,800,000, $6,L;.oo, 000 and $3,200,000 are s:nown for the Philadalphia, Cleveland, Chicago and K;:u-:,sas City Banks. Reserv as other than gold show an increase of $1,300,000 and non-reserve cash- an increase of $5,900,000 • .A sumnary of changes in the prbcipal assoets an.1 liabilities of the reserve banks, as ccmpared with a week and a year ago,~follows: Increase or Decrease In millions of dollars since Oct • 10, 1q ~.l ~O.::::..c.::..t . . :1:..:8::..J•_..;;l.. .c.9.::::2.=2 + 4.1 16.2 + 2.8 + 38.4 =-· Total reserves • . • Gold reserves + 4. 2 14.5 20.1 5.6 Purchased bills + 3.1 66.3 United States securities, total · • . Bonds and notes . • • • . • . U. S. Certificates of indebtedness + 2.2 + 2.7 352.9 140.0 212.9 + + + + 69.6 51.9 15.4 1.3 Total earning assets Discount"'d bills, total Secured by u'. S. Government obligations Other bills dis counted • • • • Total deposits . . . . Members' reserve deposits • • • Government deposits Other deposits . • . . . . . . •. ... Federal Reserve notes in circulation •• c. 75.4 + + + ·5 16.2 343.4 192.0 151.4 + 19.2 + + 24.0 5.5 •7 43.0 ! I i J Released for publication FrL ~"~ Llorr..ing, Octc ~r 19, 1923; not earlier. RFSOULG~S AND LIA3UITIES OF THE 'l"r::~LiJI:~ T~:DERAL RESERVE B.A.NT{S COMBINED (In t::J.ousands of dollars) St. 3747a RE S 0 U RCE S Oct. 10. 1921 Oct. 18. 1922 72,854 364,693 62;2, 054 987,747 2, 074,3 72 6o,275 3, 122,394 71,529 257,920 594,159 852,079 2,163, 4~5 71, 2b9 3, 086,813 127,384 3,198,023 74, & 77 3,193,923 63,932 3,214,197 386,175 463,346 190,513 1,045,039 36,251 406,269 462,748 182,407 1,051,424 &6,303 5,075 1,143,o2'-l55,C:.02 194,155 316,944 256,815 767,914 226 ,210 220,691 27 1,214,842 45,C9S 13 Sao 23 646,273 13,470 3, 750 795,439 14, 787 5,321,941 5,121,457 5, 291,114 Oct. 17. 1923 Gold and gold certificates • Gold settlement fund - F. R. Board Total gold held by banks • Gold with Federal Reserve Agents • Gold redemption fund • . Total gold rasarves 367,835 607,734 975,569 2,037, 371 52,229 3, 125,169 • • • Reserves other than gold Total reserves Non-reserve cash . • • • • • Bills discounted: Sec. by U. S. Governm~nt obligations Other bills discounted • Bills boug~t in open market Total bills on hand U. S. bonds and notes . • . • U. s. Certificates of indebtadness: •• Municipal warrants • • • TotaJ earning assets • • 7, 790 317 1,139,397 Bank premises • • • . . . 5% Redemption fund against F. R. BarJr notes • • • Uncollected items • • • • All other resources 55,64J 23 840,236 _ TOTAL RESOIJPCES ___:.....;...' ..1 317 * L I A3 I L I T I E S Capital paid in Surplus • • • • • Deposits: Government • • • • • • . • • • Member bank - resarve account Other deposits • • • 109' 6&£ 218,369 10,,676 218,369 100,327 215,398 36,575 1, 915,740 23,007 20,151 1,863,£50 2.1,754 12,545 1,921,277 22,2E5 Total deposits • • • • . 1,975,322 1,905, 755 1,956,107 2,272,391 2., 28E: '580 2,315,437 22,4L~7 480 576,277 22,320 40,613 632,4.30 24,802 5,321,941 5,121,457 5, 291,114 F. R. notes in actual circulation F. R. Bank notes in circulaticnnet 1 iabil ity • • • Deferred availability itt:nrs All other 1 ia',ilit ies •• ... TOTAL LIABILITIES • 473 723,251 Ratio of total reserves to depcsit and F. R. note' liabilities coffibined Contingent liability on bills purc~ased for foreign correspondeut~ • • . . . 40,528 76.1% 75- 25; 3b,Ol5 35,265 *liJ'ot s:1own se:r;,arately :;rior to Jar. .uc.r: , c. Re:.Based for publication Friday morning, October 19, 1923, not earlier, St, 3747b RESOURCES .AND LIABILITIES OF THE FEDERAL RESERVE BANKS AS AT CLOSE OF BUSINESS, OCTOBER 17, 1923, (In thousands of dollars) RESOURCES Boston New York Phil a. Cleve. Gold and gold certificates . 20,987 .Gold settlement fund - F.R.Board 68.~~1 183,232 140.825 324,o67 634,528 5.322 963,927 18.298 982,225 36,259 24,118 60,377 170,052 12.082 243,511 13,367 89,181 102,548 209,277 1.152 312,977 Federal Reserve Bank of Total gold held by banks Gold with F. R. Agents Gold red empt i en fund Total gold reserves 89,533 195,801 15.8R 301,218 Total reserves 4,256 . 305,474 Non-reserve cash 17' 751 Reserves other than gold Bills discounted: Secured by U,S,Govt. oblig. Other bills discounted. Bills bought in open market ~ . . 17,367 28,675 10.241 Total bills on hand 56,289 u. ,s. bonds and notes 3,567 u. s. Cart ificatas of indebtedness 170 Ba..'1lc premises Atlanta Chicago 12,141 5,891 47,280 29.a.Jll 16,804 90,421 41,852 22,695 1371707 45,739 67,391401,145 2.651 4,122 1,252 91,298 94,219 540,104 St. Louis Minn. Kans.Cy. Dallas San Fran. 4,357 28,151 32,514 35,122 3.021 70,657 7.832 1o.o61 8.941 3.896 2,6U 5.129 252,452 316,873 93,975 99, 348 547' 986 80,724 10,749 2,393 5,135 1,529 7,902 6, 759 6,817 37,080 29,553 28,130 21,108 59,335 22,684 20,253 31,619 45,433 61,389 55,727 49,260 20,424 24.508 1.141 5.452 42.155 1 77' 757 85,680 74,704 87' 949 157' 217 71,951 17,367 9,953 1,341 240 6,919 41 6o 1 393 ' 51 226,604 95,165 96,026 76,045 88,241 164,196 71,951 744 9,700 2,617 2,829 8, 715 1,156 13,756 116,593 54,215 43.121 214,535 7,b44 4,425 - Municipal warrants Total earning assets Rich, 60,026 4,434 8,645 22.118 30,763 37,365 2.489 70,617 :·2·, 871 32.281 35, 15~ 40,597 5.032 80,787 11,472 19,861 31,339 27' 378 2.095 60,812 21,333 45.618 67,011 222,926 5.105 295,042 Total 367,835 6oz.n4 975,569 2,087, 371 62,229 3, 125,169 1.136 2,500 6.224 1.148 71,753 83,287 671136 296, 790 1,153 4,161 1,876 8,652 12.854 3, 198,023 9,037 20,361 3,353 20,274 32,399 19,459 50 2.199 29.214 29,361 54,959 52,026 13,867 9,338 6,230 22 178 2,500 266 21,574 49,643 11.294 82,611 9,135. 386, 175 468,346 190.518 1,045,039 86,251 43,250 65,291 6o,8o6 91,796 1,815 4,970 1,952 2,952 7' 790 311 1, 139,397 55,640 74,8 77 '5% Redemption fund against F, R. Bank notes 28 28 ,. ,, Uncollected items All other resources · TOTAL RESOURCES i c. 78,871 193,389 74,759 90,325 74,012 29,655 102,042 47,450 17,935 40,854 36,964 54,030 126 1,0~1 313 484 661 226 2.GOO 3.6zo 1.049 222 20 2,532 466,682 1,427,780 425,826 518,385 248,662 228,636 830,220 208,148 133,438 199,612 171,662 457,890 840,286 13.690 5,321,941 Released for publi~~ation Friday mor::-:..ing, O;;~tober 19, 1923; not earlier BEOOUHCES AND LIABILITIES OF THE FEDEfi.AL DESELVE E.ANY...S .AT CLOSE OF BUSINESS OG'lOBER Boston Federal Reserve Bank of Capital paid in Surplus !8posi ts: Government Member bank - reserve ac.c.ount Other d epo sits New York Phila. 7,867 16,312 5,016 9,665 3,520 7,473 4,554 9,458 4,189 7,755 7,496 15,263 Total 109,688 218,369 7,183 1,226 1,888 2,853 3,059 5,168 2,295 . 2,124 2,011 2,207 5,619 36,575 705,579 115,469 160,794 63,605 53,504 2TI, 769 67,508 46,468 78,213 57,759 153,448 1,915,74o 13,194 634 1,191 144 1,146 487 218 4,64o 23,007 157 393 533 725,956 117,329 163,873 66,615 56,707 284,083 70,336 48,985 80,711 46},507 213,0o6 241,601 96,787 134,518 412,236 76,004 59,496 63,262 942 135,624 270 136,836 231,872 76.4 78.1 C0r..tingent lia lili ty on bills purchas~d for foreign corres_fJondents 15,344 F.Ii.notes in actual circulation 4,427 15,209 8,942 30,398 3747c 17, 1923. L I AB I L I T I E S (In thousands of dollars) Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans. Cy. · L'a.llas San Frm. 29,302 9,865 12,242 5,742 59,800 18,749 23,495 11,288 82.6 F. E. notes outstanding F. R. notes held by banks st. 3,312 52.0 57.5 - ' 4,159 2,002 78.7 1,579 5.553 FEDERAL UESERVE ~DTES OUTSTANDING 248,533 16,666 231,872 66.1 55.2 1,694 1,309 77.2 56.1 57.8 75.3 1,656 AND IN .AC rU.AL CIRCULATION 1 724,056 232,76o 269,689 105,958 150.,428 463,892 90,577 63,161 73,500 62,918 258,249 2, 743,726 260,549 19,754 28,088 9,171 15,910 51,656 14,573 '3,665 10,238 3,335 37 730 471,335 463,507 213,006 241,6o1 96,787 134,518 412,236 76,oo4 59,496 63,262 59,583 220,519 2,272,391 J DISTRI13UTION OF BILLS, U. S. CERJ!'IFICATES OF INDEBTEDNESS .AND MUNICIPlu, W.AFruNTS BY MATUBITIES 15 558,679 68,283 ~. 595 Within Bills discounted · Bills bought in open market U. s. Certificates of indebtedness Municipal warrants days 16 30 days 78,705 21,767 to 31 60 days 126,020 44,871 163 266 to 61 90 days 76,515 51,484 to 41 From 9l days to 6 months 14,278 4,113 3 ,031 10 Over 6 months 324 1 Total 854,521 190,518 7, 790 317 Released for publication, Friday morning, October 19, 1923; not earlier. St. 3747d FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS,OCT03ER 17, 1923. Federal Reserve Agent RE S 0 URCE S Federal Reserve notes on hro1d Federal Reserve notes outstanding Collateral security fQr Federal reserve notes outstandir~: Gold and gold certificates Gold redempticn fund Gold fund - F. R. Board Eligible pa~e~.Amount required Excess amount held TOTAL (In thousands of dollars) Rich. Atlanta Chicago Clave. · Boston New York Phil a. St. Louis l'i1inn. Kans.Cy, Dallas San Fran. Total 89,350 248,538 313,260 51,000 29.720 26, 35G 7:-i ~ 332 '28~ JV 1 4 724,056 232,760 269,689 105~958 F"' 127,000 24,390 10,015 34,513 25,354 67, bOO 3 73,934 463,892 90,577 63,161 73,500 62 '918 25E '249 2, 743,726 35,300 171501 143,000 ~,400 235,531 7,000 8, 730 15,663 15,497 1,994 6,991 27,997 185,000 43, 795 58,000 371' 000 14 7, 389 11,080 13,052 7,391 320,534 9. 500 2,042 1,313 2,237 3,487 13' 638 122,36o 391,645 22,000 23,000 38,360 16,500 204,288 1,643,977 52,737 3,552 09,528 62,708 60,412 60,169 33,037 99,366 6,425 24,679 13,530 4,810 62,747 55,455 25, 796 32,903 35,540 35,323 94,373 16,419 2,159 21,948 15,790 46,432 656,355 349,483 589,973 1,860,738 522,945 593,777 251,796 381,048 1,149,157 221,963 133,496 203,461 166,930 630,530 6,710,86g L I AB I L I T I E S Net amount of Federal Reserve notes received from Camptroller of the Currency 337,888 1,037,316 283,760 299,409 132,308 225,810 590,392 114,967 73,176 108,013 38,272 325,849 3,617,660 Collateral received from Federal Reserve 3ank: Gold Eligi ole paper 195,801 56,289 401,145 35,122 37,365 40,597 27,378 222,926 2,087,371 157,120 71,874 27,955 54,851 51,330 31,755 1,005,838 TOTAL c. 634,528 170,052 209,277 45, 7f.9 67,391 138,894 69,133 85,091 73,699 87,347 589,9781,860,738 522,945 593,777 251,796 }81,048 1,149,157 221,963138,496 203,461166,930 630,530 6,710,369