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STATEMENT FOR THE PRESS
St. 3690
Federal Reserve Board,
September 13, 1923.
Released for publication
Friday morning, Sept. 14;
not earlier.
CONDITION OF FEDERAL RESERVE .BANKS
A decrease of $3,700,000 in hcddings of discounted bills, as.against increases
of $5,200,000 in Federal reserve note circulation, of $9,300,000 ln cash reserves,
and of $34,100,000 in deposit liabilities, is shown in the Federal Reserve Board's
weekly consolidated bank statement issued as at close of business on September 12,
,1923. The reserve ratio declined from 76.4 to 75·9 per cent.
All Federal reserve banks,except those at Cleveland, Richmond, Atlanta, and
Minneapolis, show smaller holdings of disc~ted bills, the largest declines, by
$B,100,000 and $6~600,000, being reported for Chicago and Dallas, respectively. The
Cleveland Bank reports an increase of $13,100,000 in its holdings of discOLmted bills
while smaller increases totaling $4,300,000 are shown for Minneapolis, Richmond and
Atlanta. P~per secured by U. S. Government obligations declined by $10~000,000 during the week, the total holdings on September 12 being $389,100,000. Of this amount,
$242,300,000 was secured by U. S, bonds, $131,400,000 - by Treasury notes 1 and
$14,900,000 - by certificates of indebtedness.
An increase of $8,700,000 in Federal reserve note circulation is shown for the
Federal Reserve Bank of Cleveland, and decreases of $5;ooo,ooo and $2,700,000, respectively, for New York and Chicago. i . The remaining banks report relatively small
changes in nwte circulation, while the ·System as a whole -shews a not inorea.se o.f
$5,200, 000· .
Gold reserves increasedby $8,700,000 during the week, reserves other than gol~ by $700,000, andno.n-reserve cash - by $11,400,000, these additicns to cash holdings
doubtless being due, in large part, to the return flow of currency withdrawn during
the preceding week for holiday use. Increasesof $24,000,000 and $10,400 1 000 in
gold reserves are shown for the New York and San Francisco banks, respectively, and
decreases of $11,200,00J, $4,700,000 1 and $4,000,000, for the banks at Chicago,
Cleveland ar~ Atlanta,
.A summary of changes in the principal assets and liabilities of the reserve
banks, as compared with a week and a year ago, follows:
Increase
or
Decrease
In millions of dollars
since
Sept, 5, i923 Se:Qt. 1311922
Total reserves , . .
Gold reserves , . •
.
'
Total earning assets • • , ,
• ,
Discounted bills, total , • • • • . , ••
Secured by U. S. Gove~nment obligations
Other bills discounted • . • • . . • , ,
Purchased bills • • . • •
'
'
..
..
.. ... . ,
United States securities, total • • , •
Bonds and notes , • , , • , , . • .
U. S. Certificates of indebtedness
Total deposits •• , , . . • . , •.
Member's reserve deposits • • . • .
Government deposits •
, ,
Other deposits • • . ,
'I'
Federal Reserve notes in circulation ,
II
I
•
"9·3
8.7
+
2.9
8.7
10.0
1.3
+ 3Lc
+ i+54. 2
+ 265.1
+
4.7
25.4
+
1.1
397.0
104.1
292·9
+ 64.4
+ 61.6
+
..
+
..
,
+
+
1.6
2.7
34.1
29·7
+
9·8
43.4
+ .189.1
-
..
+
3.3
+
+
.
2.5
+
5.2
+
48.9
'
F. R, Bank notes in circulation net liability , , • , , , • • . , . • • . , •
c.
+
+
Ll
·3
- ··:~.49. 7
Rel~ased for -publication Fri:L.y morning. Septe.rnt)er 14, 1923; not earlier
R~SOUF~J::S AND LI AB:U.ITU:S
:E.2~rt.Rn.L :RESERVE BAEKS
OF THE TWEJ,VE
COM3INED
(In thousands cf dollars)
R E S 0 UR CE S
Gold and gold certificates •
Gold settlement fund - F. R. Board •
lotal
gol~
..
...
.
held by banks •
Gold with Federal Reserve Agents •
Gold redemption fund • .
... . . . .
Non-reserve cash •
Bills discountBd:
Sec. by U.S. Government o')U:·ations
Other bills discounted . .
Bills bought in open market
807 I 748
21060,700
__ 50,638
2,219,162
40, 3~24
77,004
3,102,010
76,324
3,067,2:34
130,2:04
3,187,665
3,173 J 334
77' 139
65,782
389,071
452,283.
179,313
399,118
450,9 76
174,563
1,020,6 72
1,024, 657
94, '/18
5,139
20
96,320
2,452
20
11120,549
1, 123,449
1,088, '734
54.361
54,269
43,808
28
;594,984
13,339
4, 742
661, 6os
---
...
s.
bonds and notes • • • • . •
U. S, Certificates of indebtedness •
Municipal warrants , • •
. . .
..
i'~ai 6anlittp;' 6_ssiitS . . . , ,
U.
990,622
983,051
2,070,557
_ _2I,053
}, 110,661
Total gold r~ves •
Reserves other than gold •
Total bills on hand
• Sep.b__.!l, 1 r32 3 S3pt. 5. 19g} Sept.J),_j322
281,408
344, 746
349,59 7
526,3.40
6451..876
6331454
..
..
~
Bank premises • . . . . • . . , . , . .
5% Red ernpt ion fund against
F. R. Bank notes • , . . , •
Uncollected items
All other rescurces
..
...
TOTAL RESOURCES
-·---28
670,862
13,5 32
5, 124,1}6
----
--3,197,~~38
*
123,960
263, ;::13
204,663
----591' 836
198,335
298,045
18
-----
-181
-~)20
-
5,030, 135
5,014,847
~09, 682
213,369
103,718
21S I 369
106,070
215' ~)98
39,597
1,872, 773
24,086
38' 534
1,843,065
20,776
1,Sll,c~28
1,936,456
2,262,525
1,902,375
2,257, 278
1,872,103
2,213,615
5<::9
501 22.e
5.)!+,674
22,765
L I A3 I L I T I E S
Capital paid in • , ,
Surplus . , . . • . .
Deposits:
Government . , .
Member bank ; reserve account •
Other deposits . • .
t
•
f
•
..'
...
...
Total deposits . .
F. R. notes in actual circulation
F. R, Bank notes in circulaticn net liability • , .
Deferred availability items , . .
All other liabilities • ,
TOTAL LIABILITIES • .
. 509
576,015
20,580
---5, 124,136
522,057
19,379
. 5,030,185
39 'J03
21,572
----
5,014,347
Ratio of total reserves to deposit and
F. R. note liabilities combined •• • •
75.9%
76. 4;~
73.3%
Contingent liability on bills purchased
for foreign corres~ondents • • . . . .
33,784
34,304
29,879
* Not
c
shovvn separately prior to January 1923.
for publication Friday morning, September 14, 1923; not earlier.
St. 3690b
RESOURCES .AND LIABILITIES 0-F._THE FEDERAL RESERVE B.AJ."lli:S AS AT CLOSE OF BUSINESS, SEPTEMBER 12, 1923.
(In thousands of dollars)
--..
·
RE S 0 URCE S
Boston New York Phil a. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total
Federal Reserve Bank of
6,173 48,287
349,597
3,330 11,733 21,132
169,925 34,914 12,980 11,193
17,435
3.957 8, 533
Gold and gold certificates
42,454
441026
6I2,4S4
14},913
ll
825
123
036
201682
54,124
29,655
1
11a338
1
19z523
91!815 33,051
Gel~ settlement fund - F.R.Board
24,640
44,250
18,003
28,056
983,051
171,323
47,356 25,071 63,586
313,843 64,569 110,795
71,559
Total gold held by banks
635,518 174,332 207,041 26,752 88,320 391, 737 48,378 37.956 44,458 19' 840 207,776 2,070,557
188,449
Gold with F. R. Agents
21320
3.320
8.611
3a658
3a856
1.365
21.023
1.962
3. 219 1.t.2Th 3,832 1.626 41511
Gold redemption fund
.•
267,970 957,711 247,518 321,494 74,858 108,643 570,425 76.397 67' 588 95,647 46,537 275,873 3,110,661
Total gold reserves
Reserves other than gold
Total reserves
Non-reserve cash
Bills discounted:
Secured by U.S.Govt. obligations
Other bills discounted
Bills bought in open ~arket
Total bills on hand
U~
:.r~
and notes
S. Certificates of indebtedness
So
bo~ds
~~icipa1
41462
272,432
111748
12,468
975,459 259,986 325,169
18,020
10,915
1,884
20,556
49,359
10,120
80,245
1~4,183
61,511
}6 .828
242,522
36,596
22,045
19 a 178
78,419
13,407
3,843
17.,367
14
3,947
2.615
4,2C9
c
10,64'3
981
21850
77,912 113,460 5 79,597
87,046
68,569
98,497
6,294
7,309
1,817
5, 245
4.811
1,388 10,932
37,229 28,724
22,872 43,823
36.281
108
96,382
9,953
3C5
12,836 26,857 20,655
39,956 39,197 38,637
9 1 044 4lz9J2
}89
73,255 61,836 107,986 59,681
1,341
229
9,837
682
3,668
74,596 62,086 113,505
2,617
2, 783
8,715
63,349
1,097
1
lt293
17 2004
52,072 277,466
3,187,665
5l525
2,391
6,735
77 J 139
10,400 6,571 36,501
27,722 32,361 52,939
2-'-012
9.999 12.012
29,629 . 40,134 48,931 101,452
389,071
452,283
17<1 i 312
1,020,672
7,963
21,866
12,832
4o
11,173
254
84,192
4,434
259,772
13,012
95,800 106,640
723 9,444
42,701
1,748
51,561
4,970
...
<
9,185
94,718
5,139
20
50,710 110,637
2,368
1,950
1, 120,549
54,361
1,779
20
warrants
Total earning assets
Bank premises
5% Redemption fund against
F~ R. Bank notes
Uncollected items
All other resources
TOTAL RESOURCES
<j ,112
la024
- 28
28
670,862
59,029
139,927 59.924 63,802 57,6C9 23,396 92,104 35,908 17,542 39 ,09~ 29,810 4T, 7i7
642
126
811
}81
585
2.118
13.522
1,995
1.282
338
3.853
239
152
438,259 1,400,367 418,705 514,645 214,661 213,299 805,800 194,835 134,372 200,178 139, 739 449.276 5,124,136
Released for publication 1Triday morning, September 14, 1923;
RESOURCES AND LIABILITIES OF TEE FEDERAL RESERVE BANKS AT CLOSE O:i/ 30;:: ::::..GSS Sli:.'PTEM:3ER 12, 1923.
L I AB I L
(In thousands
Rich.
Boston New York Phila. Cleve.
29,342 9,850 12,235
5. 768
7,867
16,312
59.800 18,749 23,495 11,288
Federal Reserve Bank bf
Capital paid in
Surplus
Deposits:
3,295
Government
126,597
Member bank - reserve account
483
Other deposits
130,375
Total deposits
F, R. notes in actual circu1ation227,148
:a. Bank notes in circulation net 1 ia:J ili ty
Deferred availability items
All other liabilities
F.
TOTAL LIABILITIES
2,600
1,434
1, 764
3,631
2,194 1,199
2,674 1,663
951
16,536 1,651
3.9.597
689,101 114,653 164,3{)1 59,224 51,052 271,723 68,764 47,688 77,838 48,671 152,596 1,872,773
ro
463
231)
656
24.086
1.634
437
3.776
1,025 2,295
12,413
532
718,050 117,334 169,830 61,024 53' 778 274,556 72,020 49,590 80,039 49,857 160,003 1,936_,456
481,804 220,316 250,045 82,955 128,051 414,431 72,297 57' 163 63,793 45,796 218,676 2,262,525
<
509
107,228 50,8g6 57,230 52,424 16,980 69,285 34,619 15,142 41,335 29,746 45,554
55,646
1,483
Lgl4 1,239
1,120
1,202
972 2!141
21009
4,143
1.630 1,310
911
438,259 1,400,367 418,705 514,645 214,661 213,299 805,800 194,835 134,372 200,178 139.739 449,276
Ratio of total reserves to deposit
and F. R. note liabilities
76.2
combined, per cent
81.3
Contingent liability on bills
purchased for foreign
correspondents
11,930
F. R. notes outstanding
I TI ES
of dollars)
Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total
4,138
: 4,428 15,166 4,995
4,551
7, 771
109,682
3,521
9,488
7,496 15,263
218,369
8,942 30,398 9,665
7,473
241,986.
14,838
F. R. notes in actual circulation 227,148
77-0
2,374
77.4
3,609
54.1
1, 738
62.4
1,370
84.1
4,645
6o.3
1,470
64.2
1,136
54.4
1,437
1,203
73·3
2,372
FEDERAL RESERVE NOTES OUTSTANDING .AND IN ACTUAL CIRCULATION
738,573 237,540 270~628 91,021 142,748 466,493 89,793 61,267 74,102 50,119 252,420
509
576,015
2Q.a.580
5,124,136
75-9
33,784
2,716,690
4,323 33.744
454,165
45,796 218,676 2,262,525
DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF INDEBTEDNESS .AND MUNICIPAL WARRANTS BY f/IATURITIES
Within 15 da,ys
16 to 30 days
31 to 60 days
61 to 90 days From 91 days
Over 6 months
Total
to 6 months
224
119,401
841,359
558,412
71,152
15,625
Bills discounted
45,662
61,971
Bills bought in open market
33,300
3,835
179' 313
1
4,452
277
409
5,139
U. S. Certificates of indebtedness
20
20
MUnicipal warrants
F. R. notes held by banks
c.
256,769 17,224 20,583
481,804 220,316 2501 045
8,066 14,697 52,012
82,955 128,051 414,481
17,496
72,297
4%104
57,163
10.309
63,793
for publication Frid~ morning, Septemoer
14, 1923;
St.
369Jd .
Minn. Kans.Cy. Dallas San Fran.
Total
not e~Xiier.
FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS,
SEPTE~JER
12, 1923.
(In thousands of dollars)
Federal Reserve Agent at
Joston
New York
Phila.
Cleve.
Rich.
Atlanta
Chicago
St.Louis
RESOURCES
Federal Reserve notes on hand
Federal Reserve notes outstanding
Collateral security for Federal
reserve notes outstanding:
Gold ~~d gold certificates
Gold redemption fund
Gold fund - F. R. Joard
Eligible paper Amount required
Excess amount held
TOTAL
85,550
241,986
313,260 49,700 29,520 23,230 78,992
738,573 237,540 270,628 91,021 142,743
120,500 24,590 11,780 36,213 26,614 67,800 867,749
466,493 89,793 61,267 74,102 50,119 ?52,420 2,716,690
35,300
15,149
1}3,000
235,531 7,000 3,805
2,400
28,987 11,943 13,236 1,957 4,920
371,000 155,389 185,000 24,795 81,000
11,380 13,052
10,092 2,493 3,904 4,098
331,645 34,000 21,000 40,360
7.391
321,359
2,949 20,188 119,921
9,500 187,588 1,629,277
53,537 103,055 63,208 63,537 64,269 54,423
74,756 41,415 2~,311 29,644 30,279 44,644 646,133
33,161 18,250 5,872 10,480 18,062 55,728 333,937
26,708 114,351 4,997 31,517 6,945 7,366
596,230 1,905,257 529,777 6o2,293 212,217 371,854 1,036,647 222,426 140,186 194,897 144,914 628,368 6,635,066
L I A3 I LI TI E S
l
r··.·.·._
..•
, .·.
•
~
Net amow"lt of Federal Reserve
notes received from Comptrol:!.er of the Currency
327,536 1,051,833 287,240 300,148 114,251 221,740
586,993 114,383 73.047 110,315 76,733 320,220 3,584,439
Collateral received from
Federal Reserve Bank:
Gold
Eligible paper
138,449
80,245
391,737 48,373 37,956 44,458 19,840 207,776 2,070,557
107,917 59,665 29,183 40,124 43,341 100,372 980,070
TOTAL
635,518 174,332 207,041 26,752 88,320
217,906 68,205 95,104 71,214 61,794
596,230 1,905,257 529,777 602,C93 212,217 371,854 1,086,647 222,426 140,186 194,897 144,914 628,368 6,635,066
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