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;_/;:' 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
@FedFRASER