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STATEMENT .FOR THE PRESS Released f o r p u b l i c a t i o n i r i d a y morning, Sept. 25; not e a r l i e r . S t . 4663 F e d e r a l Reserve Board, September 24, 192$. CONDITION OF THE FEDERAL RESERVE BANKS The c o n s o l i d a t e d s t a t e m e n t of c o n d i t i o n of t h e F e d e r a l r e s e r v e banks on September 23, made p u b l i c by t h e F e d e r a l Reserve Board, shows an i n c r e a s e of $93,800,000 in t o t a l e a r n i n g a s s e t s , more t h a n o f f s e t t i n g t h e d e c l i n e of $71,200,000 reported t h e p r e c e d i n g week. Holdings of discounted b i l l s went up $152,800,000 and qf a c c e p t a n c e s purchased i n open market $26,500,000, as compared w i t h d e c l i n e s of $151,300,000 and $2,200,000, r e s p e c t i v e l y , reported, a week ago. Government s e c u r i t y h o l d i r g s went down $86,100,000, a d e c r e a s e of $94,000,000 r e s u l t i n g from t h e r e demption by t h e Treasury of temporary c e r t i f i c a t e s i s s u e d t o the F e d e r a l r e s e r v e banks on September l6 p e n d i n g t h e c o l l e c t i o n of the q u a r t e r l y i n s t a l l m e n t of t a x e s , being p a r t l y o f f s e t by i n c r e a s e d h o l d i n g s of Treasury n o t e s and bonds. Gold, r e s e r v e s d e c l i n e d $7,100,000 and o t h e r cash r e s e r v e s $ 3 , 6 0 0 , 0 0 0 . The F e d e r a l Reserve Bank of New York shews an i n c r e a s e of $122,400,000 i n d i s count h o l d i n g s , Boston an i n c r e a s e of $l6>400,000, Chicago $15,200,000, San Franc i s c o $11,300,000, and Kansas City $4,900,000. The Cleveland, bank r e p o r t s a r e d u c t i o n i n d i s c o u n t h o l d i n g s of $9,400,000, S t . Louis - $2,900,000, Richmond $2,800,000, and Minneapolis $ 2 , 6 0 0 , 0 0 0 . An i n c r e a s e of $15,200,000 in acceptance h o l d i n g s i s r e p o r t e d by t h e Federal Reserve Bank of New York, of $4,500,000 by A t l a n t a , of $2,800,000 by Kansas C i t y , and. of $2,600,000 by Boston. Holdings of T r e a s u r y c e r t i f i c a t e s of i n d e b t e d n e s s went down $92, 200,000., t h e redemption of $94,000,000 of temporary c e r t i f i c a t e s i s sued by the Treasury t o the F e d e r a l r e s e r v e banks being p a r t l y o f f s e t by an i n c r e a s e of $1,800,000 i n o t h e r c e r t i f i c a t e d . Treasury n o t e s on hand went up $5,900,000 and United S t a t e s bonds $200,000. The p r i n c i p a l changes in F e d e r a l r e s e r v e n o t e c i r c u l a t i o n d u r i n g t h e week comp r i s e a d e c r e a s e of $4,100,000 a t San F r a n c i s c o , of $3,600,000 a t P h i l a d e l p h i a , and of $2,500,000 a t Boston. The A t l a n t a bank r e p o r t e d an i n c r e a s e of $2,600,000 in note c i r c u l a t i o n . A summary of changes i n t h e p r i n c i p a l a s s e t s and l i a b i l i t i e s of t h e r e s e r v e banks d u r i n g the week and t h e y e a r ending September 23, 1925, f o l l o w s : Increase or decrease Week during Year Total r e s e r v e s Gold r e s e r v e s - $10,800,000 7,100,000 - $285,100,000 - 3P3,600,000 Total e a r n i n g a s s e t s . B i l l s discounted, t o t a l Secured by U.S.Government o b l i g a t i o n s Other b i l l s discounted . . + 93,800,000 + 152,800,000 + 109,100,000 + 43,700,000 + + + + 284,500,000 380,900,000 248,200,000 132,700,000 + 26,500,000 + 146,300,000 U. S. Government s e c u r i t i e s , t o t a l . . Bonds . . . . . . Treasury n o t e s . . . . . . . . . . . C e r t i f i c a t e s of i n d e b t e d n e s s . . . . + + - 86,100,000 200,000 5,900,000 92,200,000 + - 251,500,000 18,500,000 146,100,000 123,900,000 Federal Reserve n o t e s i n c i r c u l a t i o n . . - 7,000,000 - 59,500,000 Total d e p o s i t s Members' r e s e r v e d e p o s i t s Government d e p o s i t s Other d e p o s i t s + + + - 37,200,000 9,400,000 28,600,000 800,000 + + - 71,600,000 86,800,000 14,800,000 400,000 B i l l s bought i n open market C. . . . . . . Released f o r p u b l i c a t i o n F r i d a y iron;ing, September 25, 1925; not e a r l i e r . St.4663a RESOURCES AHD LIABILITIES OF THE TWELVE fEDERAl RESERVE BANKS COMBINED ( i n thousands of d o l l a r s ) S e p t . 23, 1925 S e p t . 16, 1925 S e p t . 24,192% RESOURCES Gold w i t h F e d e r a l r e s e r v e a g e n t s • . . Gold redemption fund w i t h U . S . T r e a s u r y 1,405,694 48, 726 1,489,568 48,019 2,031,406 34,686 Gold held e x c l u s i v e l y a g a i n s t F.R. n o t e s Gold s e t t l e m e n t fund w i t h F. ,R. Board Gold and gold c e r t i f i c a t e s held "by banks 1,454,420 1,537,587 636,567 ' 598,530 2,066,092 603,448 399,623 2,765,545 105,394 2,772,684 109,020 3,069,163 86,852 2,270,939 2,881,704 3,156,015 51,872 51,520 43,191 337,649 303,078 228,594 259,346 89,515 170,348 640,727 487,940 211,962 259,863 92,146 251,603 15,919 55,418 245,751 106,020 37,061 397,753 139,782 323,132 8,100 2,420 409,249 7,500 2,420 574,596 1,212,872 1,119,071 685,239 61,399 18,751 928,961 61,370 20,305 928,355 593,345 4,901,072 5,062,931 4,812,143 1,670,343 1,677 , 299 1,729,859 2,207,090 2,197,663 3,528 29,007 2,120,331 614,787 116,433 217,837 14,213 2,230,198607,583 116,423 217,837 13,591 2,195,882 540,929 4,901,072 5,062,931 4,812,143 Reserves o t h e r t h a n gold . . . . . . Bills discounted: Sec. by U. S. Government o b l i g a t i o n s Other b i l l s d i s c o u n t e d . Total b i l l s d i s c o u n t e d U. S. Government s e c u r i t i e s : B o nd s . • • • • • • • • • . . . . 719,341 591,784 238,493 • • • • • C e r t i f i c a t e s of i n d e b t e d n e s s . . . T o t a l U.S. Government s e c u r i t i e s T o t a l earning a s s e t s TOTAL RESOURCES 55,610 1,750 60,026 26,211 L I A B I L I T I E S F. R. notes i n a c t u a l c i r c u l a t i o n • . Deposits: Member bank - r e s e r v e account . . . Total d e p o s i t s * TOTAL LIABILITIES . . . . 32,169 28,195 2,267,454 46,926 28,625 111,976 220,915 12,582 R a t i o of t o t a l r e s e r v e s to d e p o s i t and F, R. note l i a b i l i t i e s combined . . 72.9$ 73-7^ 50.4$ Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents . . . . . 34,027 34,665 19,692 C. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 23, 1925. ( i n thousands of d o l l a r s ) S t . 4663b s s s i S S % titB ?s wiFil = = r : ; , r - g SS IS & ' £ *S *5 'S : : : : —"2U£iz°s; seSS" "5 ™:S't:"S-JS-KS %% sg aa g;g g-a 2»$ s»» Jg »»».« stSSS, ss - : : : % % as ss % -s ss -sTBlS B?_Tk 'II »# »;1ti'i-.,§ | | AS Sg ,.,g |:£ rST"%3'« ts-•$*s ehet- i i f i i i i i g t i w # Gold held e x c l u s i v e l y a g a i n s t TOTAL BESOVECES ~ * ' — '-2-2. o«726 3=3,157 1,462,572 362,584 496,03s 2 2 I , 0 2 5 275.6SS 592,176 167,907 14^692 207,101 151,063 4 3 ( 0 6 9 4,901^72 L I A B I L I T I E S F.R. n o t e s i n a c t u a l c i r c u l a t i o n Deposits: Member "bank - r e s e r v e account Government Other d e p o s i t s Total d e p o s i t s Deferred a v a i l a b i l i t y items C a p i t a l paid i n Surplus All other l i a b i l i t i e s RESOURCES AND LIABILITIES <2? S P FEDERAL RESERVE BANKS ON SEPTEMBER 23, 1925S t . 4663c ( i n thousands of d o l l a r s ) Bost on New York P h i l a . CI eve. Rich. A t l a n t a Chicago St. Louis Minn. Kans.Cy. Dallas San Fran. Total 156,010 349,210 146,569 224,452 76,700 150,277 145,182 39,567 66,148 65,816 46,955 203,462 1,670,348 142,834 857 314 859,457 127.733 175,651 l4,g4l 1,472 1,699 1,255 358 15,989 890,287 129,563 178,605 128,780 54,377 56,311 74,306 53,501 90,832 59,794 l * . l g 2,207^090 1,176 249 1,335 167 5,640 28,195 61,90s 166,134 2,267,454 "144,005 57,519 8,600 16,382 64i 65.«jj 376 68,504 57,099 31,949 11,501 13,058 5,930 52,749 -20,059 22,462 11,701 3,597 515 1,150 l,04i 7 « . W 320,434 188 1,148 92,993 34,431 15,629 5,126 3,194 4,271 8,977 30,426 9,971 7,497 1 603 J76___708__i1105_ 80,675 323,409 30,272 75,754 4,613 8,950 901 76,653 35,877 54,658 15,090 29,494 4,321 39,783 8,191 6I4,7S7 116,433 7,592 15,071 217,837 793 1,378 14,213 383,157 1,462,572 362,584 496,038 221,025 275,688 592,176 167,907 147,692 207,101 151,063 434,069 4,901,072 76.7 75.O 76.8 63.4 72.5 74.4 55.1 65.8 59.1 64.2 70.5 72.9 TOTAL LIABILITIES 76.0 Reserve r a t i o (per cent) Contingent l i a b i l i t y on b i l l s p u r 2,583 chased f o r f o r e i g n c o r r e s p o n d e n t s 5".R.notes on hand ( n o t e s r e c ' d from F.R.Agent l e s s n o t e s in c i r c u l a t i o n ) 19,178 F . B . n o t e s r e c ' d from Comptroller F . R . n o t e s held by F. R. Agent F.R. n o t e s issued t o F. R. Bank C o l l a t e r a l held as s e c u r i t y f o r F.R. n o t e s issued t o F.R.Bank: 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 272,818 97,630 175,188 35,300 9,631 100,000 79,494 224,425 8,549 3,734 1,850 1,222 2,443 34,027 16,266 15,310 22,625 16,945 6,563 3,652 7,329 5,391 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 43,114 316,812 a6 l$:To s:3! % 124,016 36,423 1,431 4,316 txM 473,226 182,9 9 2 240,718 9 2,010 172,902 162,127 1,605 1,152 % 46,130 69,800 1,396 73,145 52,346 246,576 1,987,160 17,136 307,901 186,698 4,800 8,730 21,160 10,000 10,975 13,052 3,902 4,774 18,774 105,346 28,030 8,775 13,755 3,016 7,218 4,429 1,805 1,237 992,447 36,000 113,839 160,000 21,295 112,000 130,645 3,500 31,000 46,360 11,500 176,25s 33,607 20,133 80,066 833,938 234,179 59,185 77,590 52,953 46,093 83,596 38,330 28,702 534,907 186,649 260,125 98,429 175,311223,670 54,610 73,991 83,869 53,548 275,098 2,244,632 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF INDEBTEDNESS Within 15 days B i l l s discounted B i l l s bought in open market C e r t i f i c a t e s of i n d e b t e d n e s s 3,246 492,635 74,270 865 16 t o 30 days 38,323 46,240 31 t o 60 days 6l t o 90 days 62,630 58,431 41,407 49,444 1,684 days t o 5?547 10,108 4,689 3 Over 6 months 185 8,681 Total 640,727 233,493 15,919
@FedFRASER