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PP~SS STATEMENT FOR THE St. 3759 Federal Reserve Board, October 25, 192.3. Released for publication Friday morning, Oct. 26j not earlier. CONDITION OF FEDERAL RESERVE BAI~KS Further decreases of $113,300,000 in the holdings of discounted 1Jills and of $17,000,000 in Federal reserve note circulation, also declines of $1Q,SOO,OOO in acceptances purchased in open market and of $5,800,000 in Government securities are shown in the Federal Reserve Board's weekly consolidated statement of condition of th~ Federal reserve banks at the close of business on October 24, 1923. Deposit liabilities declined 8y $51,800,000, as compared with an increase of $69,600,000 reported the preceding week, while cash reserves increased by $11,100,000. Mainly because-of the substantial reductions in deposit lia')ilities, the reserve ratio rose from 75·3 to 76,8 per cent. A decrease of $15,200,000 in holdings of discounted bills is reported by the Federal Reserve 3ank of Boston, of $7,4oO,OOO b,y New York, and of $3,100,000 b,y Chicago. The Kansas City bank shews an increase in its holdings of $4,100,000. and. St, Louis - an increase of $2,600,000 1 while the seven remaining banks show smaller changes for the week, Paper secured oy U. S. Government ooligations declined by $1,800,000 and on October 24 ag~regated $384,300,000. Of the latter ~nount, $239,000,000 was secured b,y Liberty and other U. S. bends, $127,800,000 - by Treasury notes, and $17,500,000- by certificates of indebtedness, Decreases in Federal reserve note circulation are reported by all Federal reserve banks, except those of Cleveland and Ricl~cnd, which show increases of $2,400,000 and $400,000, respectively. The New York Batik reports the largest decline, by $6,500,000j Boston shows a reduction of $5 1 300,000, Philadelphia a reduction of $2,400,000, and San Francisco a reduction of ~2,000,000. Smaller decreases are shown for the other six banks, Gold reserves increased by $11,2CO,OOO during the week, the New York, Boston, and Bhiladelphia banks reporting the largest increases, and the Kansas City and San Francisco banks the largest reductions, Reserves other than gold show a nominal decline, and non-reserve cash - an increase of $2,000,000. A summary of changes in the principal assets and liabilities of the reserve banks, as compared. with a week and a year ago, follows: or Decrease In mill ions of dollars since OcL__l7. 1923 Oct, 25. lq£~ + 11.1 2.8 + 11,2 + 51·3 31.3 34·9 18.3 + 366.8 1.8 + 188.8 16.? + 178.0 Incre~se· .. Total reserves • • • , • , . Gold reserves • , • , Total earning assets • • • , • , , , Discounted. bills, total • • • • . . , . Secured by U, s. Government obligations Other bills disccunted • , , •• ~. f! Purchased bills 4 .. • f f • It I I • • • .. ... .. 10.3 United States securities, total • • • . • • • Bonds and notes • , •. , •• , , • • . • , U. S. Certificates of indebtedness • • • • Total deposits • • • • • . • Members' reserve deposits Government deposits . • , Othe::;.· deposits , , , • . •••. , . . • • , • . . • , •. I Federal Reserve notes in circulaticn • • . c. 5.8 6.3 + .5 51.8 . .. .. ' • 77·9 320.4 126.1 194·3 43.5 7.8 ·5 17.0 + + 81.8 72.2 + + 4.4 5·2 43.2 R~leaS3d for public:ttion Frid.:~y mo:rr:i.n;, Oct.obar St. 3759.::. 26, 1923; not e:.1rlbr. RESOUPCbS AND L!J3ILI'J'IFS F'ED"~RAL OF THE 'F'EL'm Un PESEWZ Jt~'i;:S COMJI?-I':ii::D t;·lclsc..ncls of dcllc'.rs) RE S 0 U RCE S Oct. 2~~~1 Oct. 11L-19£1 Oct. 25, 19?g 375,456 618,424 367,835 601}34 277,629 615,876 993,830 2,039,353 53,174 975,569 2,087,371 _62,2~ 893,505 2,124,432 67,156 3,136,412 72,710 3,125,169 72,854 3,085,093 126,835 Total reserv;;s •• 3,209,122 Non-reserve cash • • • • . 76,372 Bills discounted: Sec. by U. S. Government obligations 384,346 Other bills discounted • 451,892 Bills bought in open rnarkat l79,747 " 3,198 '023 74,377 3, 211,923 386, 175 468,346 195,510 273,369 257,691 Gold and gold ce,.tific9.tes • Gold settl3rnent £'und - F. R. Board Total gold held bv Jat~~ • Gold with Federal R:;serve Ag.:mts • Gold r3dcnnption fund . . Total gold reserves Reserves other than gold • ... .. .. .. . Total bills on hand 1,015,985 79,907 3 236 ' U. s. bonds and notes • • . • . . U. S. Certificates of inde3tedness Municipal warrants • • • •.. Total ea:rnin:: assets • , Bank premises • • , . . • 5% Redemption fund against F. R. Bank notes , Uncollected items • • • All other resources . 317 ' . TOI' AL RESOURCES _190,_2~ 1,045,039 86,251 7, 790 ---317 * 727,090 206,060 202,576 27 1,139,397 55,640 1,135, 753 45,241 23 66o,46o 13 ,4"70 28 340,236 13,690 653,483 14,940 5,120,342 5,321,941 5,065,C95 109,709 218,369 109,688 218,369 106,277 215,398 361575 23,659 1, 799,931 1,104,495 55,395 3, 750 L I AB I L I T I E S Capital paid in Surplus • • • •' Deposits: Government • • Member bank - reserve account • Other deposits • • • • • .. 28,323 1,372,179 22,536 23,007 --~..!..180 1, 841,770 2,255,354 1,9 75,322 2,272,391 .. 529 589,636 23,207 473 723,251 22,44 7 37,995 539,773 25,346 ..' 5,120,342 5,321,941 5,065,095 Total deposits 1,923,538 F. R. notes in actual circulation . • F. Bank notes in circulation net 1 iability • . • . • • Deferred availability items , • , All other liabilities •• , R. TOTAL LIABILITIES 1, 915, 740 Ratio of total reserves to deposit and F. R. note liabilities combined •• Contingent liability on bills purchased for foreign correspondents • • • • 42,331 ---'- 2, 238,536 75-3% 77.6% 40,528 33,377 *Not shown separately prio-1" to January, 1923. c. Rele, .3d fc ~ r:u::Jl::.cation Friday morning, October 26, 1923; not earlier. St. 3759b RESOURCES AND LIABILITIES OF THE FSDERAL RESERVE BANKS AS AT CLOSE OF BUSINESS, OCTOBER 24, 192.3. (In thousands of dollars) RESOURCES Fec::ral :Reserve B=m.k of Gold ·;.nd gold cert i fica.t es Gold .::ett lement fund - F. R. Board Tc~.d gold hald by banks Geld ,,d th F. R. Agents Gold redemption fund Total gold reserves Reser7es othar t h:m gold Toti.\1 reserves Non-reserve cash Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn* Kans. Cy. Dallas San Fran. Total 21,432 182,909 37,955 13,436 12,477 5,865 52,484 4,406 8,671 2,906 11,571 21,344 375,456 67,621 151,349 41,177 94,020 32.191 14,088 _77,764 2~,067 22,168 31,_222 17,]85 42,972 '618,424 89,053 334,258 79,132 107,456 44,668 19,953 130,248 30,473 30,339 34,123 29,356 64,316 993,880 210,451 634,443 165,953 208,305 44,622 66,368 401,053 34,125 37,461 35,464 29,052 221,061 2,089,358 _1=0~·-=18=-4"--_-.8..._,8;;;...5....,9____5..._•..;;;.05"'"4.;.__-=20=.....5_..... 3.z..;.b-..-7.....7_~_0l_l_ 5.144 3.525 2,024 4, 682 2, 309 3.498 53.174 309,688 977,560 250,139 316,466 92,967 90,834 536,445 b8,123 70,324 74,274 6o, 717 286,875 3,136,412 __..5u,a_::,l4..:..:1::__--=l:..c.9-J-•0;:::..4~1:__~6::.z.•.:.14.:.::3:;._._3.w•~6'-L55..:..._---J-l,L:2§5_ 5, 447 8,205 9 t433 la 251) 2 817 0, 392 1,891 72 a 710_ 314,829 996,601 256,287 320,121 96,252 96,281 544,650 77,556 71,579 77,091 67,109 290,766 3,209,122 1 15,765 11,118 1,866 3,515 1,555 8,639 6,584 8,191 1,356 4,457 2,946 10,860 76,872 Bills discaunted: S8curad by U.S.Govt. obligationsl4,602 111,001 37,825 35,954 26,874 20,339 56,574 24,740 6,507 24,217 3,856 21,857 -.:.;384,346 Other bills discounted 16,277 52,440 20,558 27,354 44,173 63,101 55,377 49,838 23,563 32,631 13,497 48,0B3 451,892 Bills bcught in open rr13..rket _l:.:O:u•u7...t.3..:...4_-..~.3.=..6,'-"C9"-.L.J.7---:2:.:0::..aa..:::2.;::.69~...::28~,-=-89"'-4~-=l,cc2:.;:6;.;:;6__5.u.•. =.6. .r. .71:::.-. .....3u.7..a.•.J...75L:.l:...-_ _,.L7_ _5.L.-.::1;;.~~,....5.-.20~___.;;:;2;..~..7~.1=2;~7'--:;10;;.,.~,~3c,:;6.;::.0_...:=1:..a..79.LZ...J.7L...4:..L7 Total bills on hand 41,613 199.538 78,652 92,202 72,313 89,111 149,702 74,585 30,121 58,36s 49,430 80,300 1,015;935 U. s. bonds and note~ 3,567 1, 349 17 t 367 91953 11341 252 6, 859 13,867 9,888 6, 279 9,185 791907 U. S. Certificates of inde:,tedness 3,200 41 593 1 1,755 18 178 2,500 8,286 Municipal warrants Totn1 earning assets .Bank premises 45,180 4,434 204,087 96,060 102,748 13, 762 744 9, 720 73,654 2, 617 51 89,415 15S,316 2,9C9 o, 715 74,585 1,220 44,006 1,842 266 68,700 4,970 311 58,259 89,485 1,104,495 1,951 3,011 55,895 39,151 913 28 31,855 2,842 5~; Redemption fund against F. R. Bank notes Uncollected items All other resources TOTAL RESOURCES c. 62,753 126 138,274 l,Q98 54,719 j12 62,749 354 65,6o3 477 26,027 648 84,054 507 36,216 50 16,417 2,523 ~ 42,642 3.620 443,107 1,364,940 409,988 499,207 240,158 223,919 802,g26 197,818 137,723 195,282 164,990 440,384 660,460 13.470 5,120,342 Released for publication Friday morning, October 26, 1923; not earlier. St, RESOURGES .AND LIABILITIES OF THE FEDERAL RESERVE BliNKS AT CLOSE OF BUSINESS OCTOBER 3759e 24, 1923. L I AB I L I T I E S Boston Federal Reserve Bank of 7,867 Capital paid . in 16,312 Surplus Deposits: 2, 798 Government Member bank - reserve account 128,719 197 Other deposits 131.714 Total d epo sits F.R. notes in actual circulation 226,597 F.R. Bank notes in circulation net liaoili ty 59,581 Deferred availability items ~v' 1,036 All other liabilities (In thousands of dollars) York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Total 109,709 4,548 4,195 7,790 29,302 9,865 12,242 5,742 4,435 15,209 4,993 3,521 9,488 7,496 15,263 218,369 59,800 18.749 23,495 11,288 8,942 30,398 9;665 7,473 New 4,513 335 1,299 2,141 1,987 3,650 1,897 2,162 688,145118,949 159,751 61,635 52,969 268,524 67,128 47,418 13,343 617 1,068 971 125 188 439 332 706,001 119,901 162,118 63,901 55,144 273,145 69,464 49,912 457,029 210,635 243,964 97,166 133,911 410,865 75.310 59,379 108,256 4,552 48,995 1,843 55,386 60,606 19,975 70,920 37,007 15,922 39,864 31,278 41,846 2,002 1,455 1,512 2,289 1,379 1,516 1,161 2,261 2 1 201 529 589,636 23,207 443,107 1,364,940 409,988 499,207 240,158 223,919 802,896 197,818 137,723 195,282 164,990 440,384 5,120,342 TOTAL LIABILITIES Ratio of total reserves to deposit and F. R. note liabilities combined, per cent 87.9 Contingent liability on purchased for foreign correspondents 2,001 2,620 3,420 28,823 75,213 56,865 146,863 1,872,179 504 237 4.515 22,536 77,718 59,722 154,798 1,923,538 62,503 59,509 218,486 2,255,354 78.8 59.8 79.6 53.6 65.5 55.0 76.8 77.9 ~ills 14,374 3,675 4,615 2,222 1,752 5,940 1,880 1,453 1,838 1,548 3,034 FEDERAL BESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 246,188 F, R. notes outstanding 19,591 F. R. notes held by banks F.R.notes in actual circulation 226,597 720,273 229,060 269,617 107,650 151,260 461,254 90,080 62 837 263,244 18,L~29 25,653 1o,484 17,349 50,389 14,77o 3;458 457,029 210,635 243,964 97,166 133,911 410,865 75,310 59,379 73 367 63 781 261 485 2 736 lo:864 4:212 42:999 \81 :~§~ 62,503 59,509 218,486 2,255,354 DISTRIBUTION OF BILLS, U, S. CERTIFICATES OF INJ:?EBTEDNESS AND MUNICIPAL WARRANTS BY MATUTIITIES Within 15 days 487,038 Bills discounted 54,194 Bills bought in open market 3,200 U. S. Certificates of indebtedness Municipal warrants w. 16 to 30 days 129,496 25,647 266 31 to 60 days 61 to 90 days 125,902 76,~96 51,320 44,851 1,601 1 41 :oG ~!n~~s 16,743 3,735 3,484 10 0\ll'er 6 months 463 Total 836,238 179,747 8.286 . 317 I Released for publication, Friday mornir.g, Octooer 26, 1923; not earlier- St. .FEDERAL RESERVE .AGENTS' ACCCUNTS AT CLOSE OF BUSINESS, OCTOBER 3759d 24, 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 har~ Federal Reserve notes outstanding Collateral security for Federal reserve notes outstar~ing: Gold and gold certificates Gold redemption fund Gold fund - F. R. Board Eligible paper ..Arr.ount required E;cces s a.'nount held TOTAL 86,350 246,183 313,260 50,600 29,700 25,950 77,027 720,273 229,060 269,617 107,650 151,260 133,200 24,390 11,295 35.513 24,164 65,800 877,249 461,254 90,080 62,337 73.367 63, 7f!l 261,485 2, 736,852 35,300 12,151 163,000 2,400 235,531 7,000 8, 730 27,912 11,564 15,025 3,827 6,468 371,000 147,389 185,000 40,795 58,000 11,080 13,052 320,534 7,391 9, 40, 2,045 1,409 2,104 4,161 17,360 113,435 391,644 21,000 23,000 33,360 17,500 203,701 1,655,389 . 35,737 85,830 63,107 6o,812 63,028 84,392 6o,201 55,955 25,376 37,903 34,729 40,424 647,494 5,876 ~6,373 2,834 24,523 3,876 4,601 39,359 18,520 3,220 20,342 14,112 39,046 318,182 534,602 1,840,679 511,554 593,457 250,126 334,143 1,145,067 223,070 140,189 202,539 165,838 627,816 6,669,135 LIABILITIES ~~et ai.lc.u:.t of Federal Reserve notes received from Comp· troller of the o~rrency Collateral received from Federal Reserve Bank: Gold Eligible paper TOTAL c. 332,538 1,033.533 279,660 299,317 133,600 228,287 594,454 114,470 74,132 103,330 37,945 327,285 3,614,101 210,451 41,613 401,053 34,125 37,461 35,464 29,052 221,061 2,089,358 149, 56o 74,475 28,596 ss, 245 4e,s41 79,470 965.676 :s~.6o2 634,443 165,953 208,805 44,622 66,868 112,703 65,941 8?, 335 71,904 88,993 1,340,679 511,554 593,457 250,126 384,143 1,145,067 223,070 140,189 202,539 165,83$ 627,316 6,669,135
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