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STATEMENT FOR THE PRESS Released f o r publication Friday morning, Sept. 18; not e a r l i e r . St. 4655 Federal Reserve Board., September 17, 1925« CONDITION OF THE FEDERAL RESERVE BANKS The consolidated statement of condition of the Federal reserve banks on September 16, made public by the Federal Reserve Board, shows a decline of $151,300,000 iii holdings of discounted b i l l # and of $2,200,000 in acceptances purchased in open market, and an increase of $82,100,000 in Government s e c u r i t i e s , holdings of which on September 16 included $94,000,000 of temporary c e r t i f i c a t e s issued to the Federal reserve banks ty the Treasury pending the c o l l e c t i o n of the quarterly installment of taxes. Total earning assets went down $71,200,000 t o $1,119,100,000, and Federal reserve note c i r c u l a t i o n declined $2,800,000, while cash reservesincrensed $800,000, and non-reserve cash $7,900,000. Largely as a r e s u l t of the Treasury's f i n a n c i a l operations on September 15, which included the redemption of Treasury c e r t i f i c a t e s maturing on that date, member banks in the New York d i s t r i c t reduced their borrowings from the Federal reserve bank by $144,000,000. Discount holdings of the Federal Reserve Bank of Chicago W8n */i 0 W 1 $8,400,000, and of the Federal reserve banks of San Francisco and Boston by $6,400,000 and $3,600,000, respectively, while disccunt holdings of the St. Louis bank show, an increase of $8,800,000. The New York bank also reports a decline of $10,200,000 in acceptances purchased in the open market, while Boston reports an increase of $2,900,000. The increase of $88,200,000 in holdings of Treasury c e r t i f i c a t e s of indebtedness is more than accounted f o r by $89,000,000 of temporary c e r t i f i c a t e s issued by the Treasury to the Federal Reserve Bank of New York and $5,000,000 to three other banks pending the collection of the quarterly installment of taxes. Treasury notes on hand went) up $8,900,000, while U. S. bonds declined $15,000,000. A decrease of $3,900,000 in Federal reserve note c i r c u l a t i o n is reported by the Federal Reserve Bank of Boston and an increase of $2,800,000 by Atlanta. The remaining banks report smaller changes in Federal reserve note c i r c u l a t i o n . A summary of changes i n the p r i n c i p a l assets and l i a b i l i t i e s of the reserve banks during the week and the year ending September l6, 1 9 $ , follows: Increase or decrease Week Total reserves , Geld reserves - $283,700,000 - 308,800,000 151,300,000 136,300,000 15,000,000 71,200,000 + 136,200,000 + 230,000,000 + 145,000,000 + 85,000,000 2,200,000 + 112,800,000 + 82,100,000 — 15,000,000 + 8,900,000 + 88,200,000 - 209,500,000 + 19,400,000 - 152,100,000 Total earning a s s e t s . . . . . . . . . . Bills d is counted, .total Secured, by U.S. Government obligations Other b i l l s discounted: Bills bought in open market . . . Federal Reserve notes i n c i r c u l a t i o n . . . Total deposits . . . . . . . Members' reserve deposits Government deposits Other deposits . '2,000,000 2,800,000 . Year ,$800,000 + + U.S. Government s e c u r i t i e s , t o t a l B end s Treasury notes C e r t i f i c a t e s of indebtedness during 14, 300,000 2,000,000 19,200,00c. + 2,900,000 76,800,000 - 57,400,000 - 67,000,000 63,600,000 • 2,800,000 600,000 -+ Releasee! f o r publication Friday morning, September 18, 1925J not e a r l i e r . S t . 4655 a RESOURCES AMD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (in thousands of dollars) Sept. 16. 1925 Sept. 9. 1925 Sept. 17. 192% RESOURCES 2,038,632 1,451,175 1,%S9,568 Gold with Federal reserve agents . . . . 36,638 44,340 48,019 Crold reft erupt ion fund with U.S. Treasury 2,075,270 1,537,587 1,495,515 Gold held exclusively against F.R.notes 611,304 679,480 636,567 Gold settlement fund with F. R. Board 394,919 595,696 Gold and gold c e r t i f i c a t e s held by banks 598,530 3,081,493 2,772,684 2,770,691 Total gold reserves 109,020 83,919 110,230 Reserves other than gold Total reserves Non-reserve cash B i l l s discounted: Sec. by U. S. Government obligations Other b i l l s discounted . . Total b i l l s discounted B i l l s bought in open market . U. S. Government s e c u r i t i e s : Bonds Treasury notes . . . . . . . C e r t i f i c a t e s of indebtedness Total U. S. Government s e c u r i t i e s Foreign loans on gold . . . All other earning a s s e t s . Total earning assets Uncollected items Bank premises All o t h e r r e s o u r c e s . . . . TOTAL RESOURCES . . 2,881,704 51,520 2,880,921 43,614 3,165,412 44,543 228,594 259,346 487,940 211,962 *364,841 *274,351 639,192 214,143 83,601 174,366 257,967 99,212 55,418 245,751 108,080 409,249 70,403 236,801 19,910 327,114 7,500 2,320 35,951 397,863 184,915 618,729 1,190,269 658,563 61,333 23,260 982,858 775,917 59,672 26,464 7,500 2,420 1,119,071 928,961 61,370 20,305 — 6,950 5,062,931 4,857,960 5,054,866 1,677,299 1,650,115 1,734,666 L I A E,',I L I T I E S F, R. notes in actual c i r c u l a t i o n QSposite: • Member bank - r e s e r v e account . Government Other d e p o s i t s . Total deposits . . Deferred a v a i l a b i l i t y items Capital paid in Surplus All other l i a b i l i t i e s . . . TOTAL LIABILITIES 2,197,663 3,528 29,007 2,230,198. 807,583 116,423 217,837 13,591 2,195,648 22,786 26,072 2,261,255 6,339 29,583 2,244,506 585,596 116,380 217,837 13,526 2,297,177 678,050 112,032 220,915 12,026 5,062,931 4,857,960 5,054,866 Ratio of t o t a l reserves t o deposit and F. R. note l i a b i l i t i e s combined . . . 73-7# 73*4$ 78.5# Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents 34,665 34,646 20,959 •Revised f i g u r e s RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 16, 1925. ^In RESOURCES i s Gold held excl-qaively against F ' p' n o t e s Gold and gold c e r t i f i c a t e s Total gold reserves Reserves 0tiler than gold 156,092 25,454 236,923 13,654 Total reserves 250,577 Non-reserve cash 3,796 B i l l s discounted : Secured by U.S. Govt. obligations 12,01] Otner b i l l s discounted 9,462 Total b i l l s discounted B i l l s bought i n open market U. S. Government s e c u r i t i e s : Bonds Treasury notes C e r t i f i c a t e s of indebtedness Total U.S. Gov*t. s e c u r i t i e s Foreign loans on gold. All other earning a s s e t s Total earning a s s e t s Uncollected items Bank premises All other resources TOTAL BESOTOCES 21,475 38,981 537 518 5,206 g;^ S-JS ^ 44,447 131,785 138,081 17,646 23,236 25,315 38,896 30,555 15,099 39,224 6,494 22,391 19,395 24,184 7,297 32,266 110,361 11,960 48,551 19,961 69,451 18,077 54,323 28,885 5,142 12,088 43,579 28,912 39,563 2,374 ill "•! # 266,205 M . 1 89,392 119,277 MB 'if *3 a ' ' S » • « 100 72,445 32,500 636,567 23,567 598,530 262,752 2,772,684 5,336 109,020 268,088 2,881,704 1,797 2,608 51,520 2,006 6,489 8,495 11,251 29,825 18,347 228,594 259,346 48,172 20,848 427,940 211,962 II I I AS » ' S 55,140 114,512 2,358 3,064 1,069 4,818 6,134 7,882 7,203 23,670 18,698 65,307 Total ^ « T . 3 3 % 204,579 1,489,568 2,106 48,019 ' 46,847 53,756 34,433 206,685 1,537,587 »'•>& ^ 70,200 40,161 " I S 2,320 St. 4655 dollar*) 898 ' • g 67,272 of San Fran. " ~~ 387,273 135,274 185,218 m thoa8&rKl8 50,077 ® - g 57537 53 38,142 4,933 55,418 245,751 108,080 43,128 525 409,249 7,500 2,420 49 184 112,673 1,119,071 54,369 928,961 61,370 3,323 4,210 20,305 "05,265 1,473,486 394,659 513,481 233,68! 280,206 628,339 179,143 145,902 210,358 153,133 1*5,271 5,062,931 I S «3 I I *>!• Ii$ RESOURCES 'AMJ LIABILITIES OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 16, 1 9 2 5 . L I A B I L I T I E S F.R. notes in actual c i r c u l a t i o n Deposits: Member bank - reserve account Government Other deposits Total deposits Deferred a v a i l a b i l i t y items Capital paid in Surplus All other l i a b i l i t i e s TOTAL. LIABILITIES St. 4655c (In thousands of dollars) Boston New York Phila. CI eve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total 158,469 350,615 150,142 224,968 75,666 147,631 144,968 40,052 65,340 65,749 46,172 207,527 1,677,299 143,728 833,865 134,767 177,654 66,458 80,153 214 263 263 190 555 613 265 16,478 513 1,238 268 386 144,207 850,606 135,543 179,082 67,281 81,152 77,028 178,155 76,951 72,832 72,053 37,000 3,596 4,617 31,919 11,501 13,059 5,980 16,382 53,749 20,059 22,462 11,701 8,950 3,442 1,007 463 1,078 856 583 405,265 1',473,486 394,659 513,481 233,638 280,206 82.8 • 73-8 78.7 75-8 73-7 59-5 328,374 248 1,811 330,433 105,187 15,619 30,426 1,706 628,339 77.2 77,467 48 2 1,366 79,315 43,971 5,121 9,971 713 179,143 44.4 51,834 210 413 52,457 16,320 3,202 7,497 1,086 145,902 58.6 87,252 53 1,145 88,450 42,314 4,304 8,977 564 210,358 62.8 58,096 144 183 58,423 35,853 4,314 -7,592 779 153,133 61.2 1,431 4,816 1,605 1,152 1,396 1,222 2,443 34,665 21,130 13,429 4,557 3,488 6,738 5,339 40,196 298,329 Reserve r a t i o (per cent) Contingent l i a b i l i t y on b i l l s purchased for foreign correspondents 2,583 F.R.notes on hand (notes rec'd from F.E.Agent l e s s notes in circulation) 19,608 9,187 117,722 3,246 3,734 1,850 34,941 16,398 14,693 158,015 2,197^663 293 3,528 4,941 29,007 163,249 12,230,19s 49,919 807,583 8,191 116,423 15,071 217,837 1,314 13,591 445,271 5,062,931 72.> 73.7 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F.R,notes rec'd from Comptroller F.R. notes "held by F. R. Agent F.R.notes issued to F. R. Bank Collateral held as security for 275,797 97,630 178,167 764,797 214,883 287,836 114,919 216,346 429,904 68,769 296,460 29,800 46,470 24,560 47,585 271,507 24,160 468,337 185,083 241,366 90,359 168,761 158,397 44,609 Gold and gold c e r t i f i c a t e s Gold redemption fund Gold fund - F. R. Board E l i g i b l e paper Total c o l l a t e r a l 35*300 12,610 100,000 60,456 208,366 17,136 308,701 186,698 4,800 8,780 21,160 10,000 11,775 13,052 5,378 19,051 110,150 28,030 11,866 12,003 4,125 7,866 4,429 1,024 925 2,843 161,000 112,889 160,000 16,295 111,000 130,645 3,500 31,000 48,360 10,500 185,528 1,070,717 669,519 100,757 62,856 87,079 57,865 40,944 72,392 41,856 31,162 25,849 19,696 68,607 476,485 192,411 267,862 99,445 169,810 207,466 58,155 76,139 77,052 52,710 273,186 2,159,087 F . R . n o t e s issued t o F.R.Bank: 87,798 98,220 72,303 314,723 2,946,295 15,970 25,733 20,792 67,000 970,667 68,828 7 2,487 51,511 247,723 1,975,628 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS Within 15 days B i l l s discounted B i l l s bought in cp en market C e r t i f i c a t e s of indebtedness 352,410 50,778 94,810 16 to 30 days 38,305 43,260. 31 to 60 days 55,644 61,111 61 to 90 days 34,858 45,022 1,203 91 d^ys to . 6 months' 6,560 11,791 4,129 Over 6 months 163 7,938 Total 487,940 211,962 108,080
@FedFRASER