Full text of H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks : December 3, 1916

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Released for publication Sunday morning, .December 3, 1916,

Not earlier.

895

STATEMENT FOR THE PRESS
December 2, 19 1 6 ,
The Federal Reserve Board made publJLe today its weekly bank statement as
at close of business December 1, 1916,
The statement indicates considerable de­
creases in net member bank deposits, also in gold and cash reserves.
These de­
creases arg due in part to the large amounts of transit items, including ex *
changes for local clearing houses reported by the banks and treated as deduc­
tions from gross bank deposits.
These items are especially heavy on the firs t
of the month, and cause a temporary decline
in net deposits.
Earning assets
of the banks for the firs t time exceed 200 m illio ns, the total being 5 .4 m il­
lions larger than the week before.
Over 1 0 m illions of gold were transferred
during the week to the Agents against notes issued to the banks,
Aggregate gold reserves of the banks declined 2.0.7 m illio n s , New York,
San Francisco and Boston reporting the largest decreases.
In the case of the
two Eastern banks the declines in gold reserve are accompanied by reductions
in net bank deposits, increased investments and transfers of °-old to Agents,
In the case of San Francisco, the loss in gold shown is more than offset by an
increase in the amount due from other Federal Reserve Banks.
The total gold
holdings of the system show a decline of over 10 m illio n s, from 7 0 1 ,5 to 69.1«2
m illions,
Total cash reserves of the banks decreased 2 7 .9 m illio n s, the la r ­
ger decrease in cash reserve representing mainly the loss in the total amount
of legal-tender notes by the New York bank,
Discounted paper on hand increased about 1 .2 m illio n s , Boston leading
a l l other banks in the amount of discounts held.
The gains in discounts
shown by
other banks is represented chiefly by increases in amounts ad*"
vanced to member banks upon th e ir own secured rotes,
Such advances are re­
ported by 9 reserve banks and totaled $4,380,000
as against $ 2 ,3 8 4 ,0 0 0 the
week before.
Acceptances on hand show an increase of about 4 ,3 m illions, the
Boston and New York banks reporting large open-market purchases during the
^
total *•' including acceptances - on hand, 3 7 .7 per cent mature
w ithin 30 days, and 3 9 ,3 per cent after 30 but w ithin 60 days.
Transactions in United States bonds are reported by 6 banks, resulting
in an increase of $ 7 3 8 ,0 0 0 in the total held.
No changes are reported in the
amounts of 1-year Treasury notes on hand.
Total holdings of municipal war­
rants
declined $ 9 1 2 ,0 0 0 , an increase of about 1 ,5 m illions reported by the
ew ork bank being more than offset by liq uid atio n on a large scale of war­
rants held by the Cleveland and Western banks.
Total earning assets constiute at present 360 per cent of the banks' paid-in capital, compared with 351
per cent shown the week before.
Of the "total - 53 per cent is represented by
acceptances; 20 per cent by United States bondsj 1 0 ,8 per cent by discounts;
.6 per cent by warrants; and 5 .6 per cent by Treasury no tes»
No m aterial change is indicated in the total of government deposits,
ew York being the only bank to report considerable net withdrawals of govern* ^e t member bank deposits show a decrease for the week of about
L,
■.T-.
m illio n d o llars, New York alone reporting a net reduction of over 21*1
mi ions.
banks’ l i a b i l i t i e s on Federal reserve bank nor,gs in circulation
ave^oeen p r a c tic a lly wiped out during the week by the deposit with the Treasurer
of the United States of 1 m illion d o lla r s .
Federal Reserve Agents report a total of $ 2 6 8 ^ 2 7 0 ,0 00. net,
v!

issued to the

increase for the w®ek
$ 1 0 ,1 8 9 ,0 0 0 .
Against
total the Agents
S o' 5 J 6,00t) of P aPer and $ 2 5 2 ,0 5 7 ,0 0 0 of g.>lu,
The tanks show a total of
f <tn-j loo
° * Federa* reserve n o te ^ in circulation, aid aggregate l i a b il i t i e s
ot $ 1 3 ,3 8 3 ,0 0 0 upon notes issued by the Agents.




Released’ for publication Sunday morning December

3, 1916.

Not earlier

STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE T^LVE FEDERAL RESERVE BANKS OF THE UNITED STATES AT CLOSE OF BUSINESS DECEMBER8” " y i f i .
o t '/ c o i n L d

c e r tific a te s in vault ...............................................

Gold redemption fund i

r

i

t

h

U

n

i

t

e

d

S

t

a

t

Total gold reserve
.....................................................................
Legai tender notes, s iiv e r , e t c ............ . ..........................................
Total reserve ..................................................................................
Five per cent redemption fund against F. R. bank notes . . . . .
B ills discotmted and bought:
M aturities: W ithin 10 days ................................................................
F r « U t ° y day. ...................... ................................

e

s

T

r

e

_10„8 3 ^ 0 0 0
4 5 0 ,0 1 0 ,0 0 0
4 8 0 ,0 0 0

a

“

1“

I

1 9 ,7 2 4 ,0 0 0
2 8 ,5 26 ;0 0 C

.....................................■
■
................................

$ TlM alo oo

v
»,
,
cso^/77,000
.Member banK .ep osits - Net .................................................................
6 1 3 ,5 3 0 ,0 0 0
Feaeral Reserve notes - N e t . . . . . . . . . . . .........................................
1 3 ,3 8 3 ,0 0 0
ifeaeral reserve bank notes m circulation ................................................28-,000
i

—

u

r

e

r

l

!

“ i ' l S' So'

jsH r f ' S g
- 17 ,975.000
n W .O O O
5 7 7 ,9 0 9 ,0 0 0
3 ^ 7 ' :'t ^ O O
570,000
500*000
5UUjU0U
<+50,000
1 7 ,5 6 5 ,0 0 0
S T ^O O O

n
+° on rf0* 0 ....................................................... '
50 , 3 4 6 ,0 0 0
Over 90 U
... ................................................................... 2 8 ,3 4 2 ,0 0 0
_
Over 90 days
.............................................. ...................
- 2o l2g .,00Q
x o .a l .
.
....................... .................................
1 2 8 , 1 1 1 ,000
Investments:
United States bonds ...... ............................................
40 pi c nnn
^
tt *4. j ai j
m
.
v o iD ju o u
One-year United States Treasury notes ..............
1 1 ,1 6 7 ,0 0 0
Municipal warrants .....................................................
.2 1 , 3 5 4 . 0 0 0
4
Total earning assets ....................................................................
2 0 0 ,7 4 7 ,0 0 0
Federal reserve notes - Net . . . . . . . . . ..............................................
1 8 ,3 0 1 ,0 0 0
3 8 ,1 8 8 ,0 0 0
Due from * , « « ! reserve banks - Net .............................................
A ll other resources ................................................................................
2 .4 9 5 .0 0 0
I

s

5 0 ,7 5 1 ,0 0 0
2 5 ,3 7 3 ,0 0 0
-JL,532,.Q0Q.
122 , 593^000
-?q kp7 nnn
UOU
1 1 ,1 6 7 ,0 0 0

15,733 000

Less items m transit between Federal reserve banks, viz:




11

607 onn

6 7 «li nnn
n $ S 'S £

1 3 5 ,3 5 3 ,0 0 0
1 5 ,^ ,0 0 0
U3 ,2 6 3 ,0 0 0
_ £ J b 5 1 ,0 0 0

U2.,675,000
2 1 ,2 5 0 000
_ 2 - ^ 2.000
105 , 670,000
li£ noi aaa
Hb.,821,000
8 ,2 0 5 000
21.TO8 000
la i^ r a o
2 0 ,8 9 0 ,0 0 0
3 5 ,6 0 7 ,0 0 0
, V 0 U .0 0 0

jfe o iT o o o
24 082 000
15 3 00 000
ta? ™

735,060,6-00

g f e o o S

s A fu f^b '

so^s^-S^ooo
* * ,6 9 7 ,0 0 0
14.1*16,000
1 , 690,000

S 5'0&j 0 0’ S
0 .000 0
K60 te > ;0 00
7 512 000
1 731 000

M j S L m

tzojjijjUvv

6} ? ,0 7 2 ,0 0 0
1 4 ,2 9 6 ,0 0 3
1 ,0 2 8 ,0 0 0
J u o o o

38,1 88 ,0 0 0

j u H n i S
T a f f iS g
l ^ s S 'o O O
Tp'fiS'SX360 232 000
r p S
'URo'non
3 5 7 ,8 6 2 ,0 0 0

S o O Q

*+3,263,000

2i+,0 9 ^ ,0 0 0
15 582 000
^877!
73 , 387,000
<rn - '
51^991^000
V l 9 0 000

35,6077000

18,610*000
10 766 o S

000
000
1 ^ 356 000

_ a k o o o

Gold reserve agam
^ a i n lsu
t nex
net *deposit
o te ' l i a D
b i lnixtiieess ' ^A;
( A ) ' ". .'
n 0 ’ ^ 71 4 $
7 ' “6 8 .4 $
uoxa
aeposix "and
ana n
note
7 2 .5 %
Cash reserve against net deposit and note l i a b il i t i e s (a) . .
70’ -ia
7 5 . 3$
7 i * n^
Cash reserve against net deposit l ia b il i t i e s after setting
'V ~
^
1
p
aside 40$ gold reserve against aggregate net l i a b il i t i e s
0£ fe d e ra l reserve notes i n _ c i r c u l a t i o n _ ( A ) _ ^ . ^ ^ ^ ^ ^ ^ . _ ________ _____________________ Z 6 . 2g _______ '_______ 72 w
JA)

7? ' 7° ° ' ° 00

“ i 'S 'S ”

P>.87S 000
^
°
' I 7 .a g i .000
^ l ost 000
ll 118 000
19 775 000
I' I S ™

j m 000
s m 000
o *
392 966 M O
13,969 000
^

s .*

4. ™

f>R ctf" ^

S ?
uv>* ^
«9-<#v

7-1

n ’^
qQ n

15 3QO cfe ~ “ 19~775 000

Released for publication Sunday morning December 3 , 1916.

895

Not earlier.

KLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS DECEMBER 1, 1916 .
(in thousands of dollars)
N. Y .
Bost on
R E S 0 U r* C E S
P h ila .
Clevel. Richm. A tlanta Chicago St.Louis Minnls K as. Cy * Dallas S„Fran*
Total
1 4 1 ,9 0 8
in vault
Gold coin and certif
16,650 1 6 ,4 6 4 •^ ,5 4‘ 9
•
$ 1 2,31 7
8,602
4 ,8 7 6
2 9 ,2 5 4
4 ,7 1 8
7 ,6 7 7
4 ,5 3 7
10,365 261,9 17
Gold settlement fund
7 ,1 7 1 15/838 22,870 23,118
8,332 27,863
1 5 ,7 3 ^
5,038 1 7 5 ,7 8 1
1 4 ,9 5 2
7 ,7 3 6
1 7 ,9 3 2
9 ,1 9 7
Gold redemption fund
1 4 9 ,3 2 9
2 8 ,1 0 1
Total gold reserve
3 2 ,5 3 8
19 ,64 3
1 5 ,4 1 3
1 6 ,9 0 4 22,768
3 9 ,3 8 9 27,912 1 3 ,^ 7 5
439ol74
57,317
1 6 ,3 8 5
142
7 ,0 8 0
Legal tender notes, s il v e r , etc.
26l _ l*PP9
46
180
184
181
34
76
1,1 5 6
10 ,8 3 6
279
1 5 6 ,4 0 9
2 8 ,2 4 3
3 2 ,8 0 7 .4 0 ,3 9 8 2 7 .9 5 8
Total reserve
2 2 ,8 0 2
1 9 ,9 2 2
57 701 1 7 ,5 4 1
1 3 ,6 5 5
4 5 0 ,0 1 0
1 7 ,0 8 5
1 5 ,4 8 9
redempt- fund — F . R . bank notes
m%
320
100
, , 420
652
4 ,0 2 1
B ills discounted - Members
246
2 ,4 l£
2 ,3 6 4
2 ,2 1 9
2 ,8 0 5
1 ,0 8 2
3 ,6 l 6
1 ,2 9 ^
21,732705
311
1 ^ 23.2.. . 3 6 ,6 8 0 1 1 * 3.36 — 1*205 1 ,2 5 0
B ills bought in open market
5 ,5 4 1
6,547
1 ,8 1 0 CTToSS 1 0 .9 2 0
1 0 6 ,1 7 9
4 .8 1 5
2,9 5 7
18,253
Total b ills on hand
3 7 ,3 3 2
7 ,4 5 1 3 ,6 6 8
8 ,3 4 6
10,163
1 5 ,5 5 5
12 8 ,11 1
7 ,1 9 9
1 1 ,2 3 1
2 ,5 1 5
27359
M 39
Investments: U. S . bonds
1 , 380.
1,670
294
7 ,1 5 4
1 ,2 1 0
195
7 ,5 0 8
2,268
2 ,4 6 6
2 ,6 3 4
4 0 ,2 1 5
9,166
4 ,2 7 0
1 ,0 0 0
1 ,1 7 4
One-year U . S . Treasury notes
1 ,2 0 5
618
1,070
824
8Q1
700
500
1,517
963
703
11,167
9 ,9 2 0 _ J L 5 0 5 . 2 ,5 6 8
M unicipal warrants
61
4o4
2,126
341
646
L.151...
592
77
1 ,8 5 5
2 1 ,2 5 4
4 8 ,6 5 2
2 1 ,7 9 0
1 9 ,9 0 4 . 1 I J 9 1
Total earning assets
2 1 ,3 1 4 12,097
7 ,4 1 1
16,220 200,747
5,0 9 3 , <^,637
7 ,8 5 1
1 2 ,9 8 7
Federal reserve notes - net
1 0 ,0 7 1
1,300
625 •
«
»
•
*
%
•
%
1 ,1 5 9
1 8 ,3 0 1
2 ,5 3 2
1 ,0 6 5
1,5 49
•
*
Due from other F . R . banks - Net
2 ,4 7 3
6,166
6 ,3 9 9
447^ 11,126
2,58 7
7 , 3 3 0 ( a ) 38,1 8 8
3 ,3 5 4
793
2,5 7 7
707
202
A ll othb r resources
121
280
158.
541
........ 57
285
371
25
____________
11_
163
279
2 ,4 9 5
_53^6l8. _221J33
TOTAL RESOURCES
5^,068 6 1 ,5 6 4 3 3 ,9 6 5 2 4 ,0 2 4 9 1,97 0 1 6 ,1 7 5 3 0 ,0 7 0 3 9 ,6 2 1 2 8 ,6 8 1 4 0 ,1 8 1 71 0 ,16 1
L I A B I L I T I E S .
Capital paid in
Government deposits
Member bank deposits - Net
Federal reserve notes - Net
F. R . bank notes in circulation
Due to other F . R . banks - Net
A ll other l i a b i l i t i e s
TOTAL LIA BILITIES
M E M 0 R A N D U M .
F. R . notes issued to the banks
F . R , notes in hands of banks
F. R. notes in c irculat ion
.
Gold and lawful money with Agent
Carried to net assets
Carried to net l i a b i l i t i e s



(a)

5,007

11 ,9 1 3

5 ,2 2 8

2 ,5 4 6

1,860

45,890

2 0 7 ,8 2 9

3 ,7 5 9
3 9 ,1 4 5

4

*

%

«

*

-

•

•

♦

165
1.31.
p !5 _
_ 5 i ,6 7 8 .. 2 2 1 ,7 1 3
5 4 ,0 6 8

.........•

9 0 ,7 3 3
1 0 ,0 7 1
8 0 ,6 6 2
9 0 ,7 3 3

10,071
*

*

1,562
*

*

2 ,0 4 4

2 ,4 8 0
3 ,6 6 3
1 3 ,7 8 8
4 ,0 3 7

6 ,6 8 5
2,8 5 3

82,397
•

2,7 98

2 ,6 0 9

3 ,0 5 8

2,695

3 ,9 2 5

2,138

8^9
26,605

137
3 5 ,3 0 2

1 ,6 8 4
2 3 ,1 4 2

2,692

55 ,737
2 6 ,777

3 3 ,7 1 9

613,530

1,096

1,160

*

»

28

•

m

*

•

%

%

•

26 ,19 3
5 ,0 4 6

*

#

1 3 ,3 8 3
28

5 ,7 7 1

____________

1 2,18 7
1,15.9.
1 1 ,0 2 8
1 2,187
1 ,1 5 9

3 , 3^6
3,034
5 4 ,0 0 9 25,511
5 ,9 9 3

1 4 ,1 2 1
1x3.00
1 2 ,8 2 1
1 4 ,1 2 1

1,300
*

*

*

*

6 1 ,5 6 4

....

30

33,965

8,763 19,187
846
625
8 ,1 3 8 1 8 ,3 4 1

8,763 16,297
625
*

*

•

%

2 ,0 4 4

56
2 4 ,0 2 4

35
9 1 ,9 7 0

4 ,1 4 2
2 4 ,5 1 3
884
1,5 4 9
2 3 ,6 2 9 . 2 ,5 9 3
4^142
1 9 ,5 9 2
•

*

^ P l l ._

•

•

3 6 ,1 7 5

16,702
301
1 6 ,4 0 1
1 1 ,3 5 5

1,549

•

•

5 ,0 4 6

•

4

7
3 0 ,0 7 0

2 0 ,3 8 0
2 ,5 1 2
1 7,848
2 0 ,3 8 0
2 ,5 3 2
m

♦

•

39,621

2 8 ,6 8 1

2 0 ,4 9 9
544
1 9 ,9 5 5
1 8 ,8 5 9

2 4 ,8 2 5
255
2 4 ,5 7 0
2 3 ,4 1 0

ft
....

«

1*096

1 * 160 .

47
4 0 ,3 8 3

706
7 1 0 ,1 6 1

1 2 ,2 1 8
1 ,0 6 5
1 1 ,1 5 3
1 2 ,2 1 8
1 ,0 6 5

2 6 8 ,2 7 0
2 1 ,1 3 1
2 4 7 ,1 3 9
252,057
1 8 ,3 0 1

Items in transit i . e. total amounts due from less total amounts due to other Federal reserve banks.

1 3 ,3 8 3 .

Released for pablio&tiori Sunday morning Deosiauer

3,

lyib.

83J-

Hot earlier.

c.

STATEMENT OF FEDERAL RESERVE AGENTS’ ACCOUNTS AT CLOSE OF BUSINESS DECEMBER 1. 1916 .
(In thousands of dollars)
Ni T .

P h ila .

Clevel..

Richm.

$ 2 4 ,8 * 0

1 5 8 ,4 0 0

1 9 ,8 8 0

15,160

2 8 ,0 00

3 3 ,2 8 0

1 0 ,3 8 0

2 2 ,5 4 0

£4,500

2 4 ,2 2 0

35.320

1 5 ,/20

4 1 2 ,2 8 0

6 ,9 1 3

52,147

5,759

.3,497

6,163

3 ,6 4 2

1,357

2,298

800

1,968

4 ,1 5 4

1,602

90,300

17,9b 7

106,253

1 4 ,1 2 1

11,663

21,837

29,638

9,023

2 0 ,2 4 2

2 3,70 0

22,252

31,166

14 ,1 1 8

321,980

5 ,7 8 0

15,520

2,900

2,650

5 ,1 2 5

4 ,8 8 1

3 ,5 4 0

3 ,3 2 0

1 ,7 5 3

6 ,3 4 1

1,900

53,710

Issued to F . R. "banks less
amount returned to F . R.
Agent for redemption

12 ,187

90,733

1 4 ,1 2 1

8 ,7 6 3

19 ,187

24,513

4 ,1 4 2

16,702

20 ,33 0

20,439

24,825

1 2,21 8

268,270

Amount held by F. R. Agent
j|in reduction of l i a b i l i t y
on outstanding notes:
On han d.
Gold coin and c e r tific a te s

1 1 ,1 0 0

8 5 ,8 5 3

3 ,8 2 0

8 ,2 8 0

5,165

13,030

4 ,2 7 0

10 ,3 4 0

1 ,0 8 7

4 ,8 8 0

801

483

- -

- -

9,5 0 0

Boston
Federal Reserve Notes:
Received from the Comptroller
Returned to the Comptroller
Chargeable to F. R. Agent
In hands of F. R. Agent

Credit balances:
In gold redemption ftmd
T'rith Federal Res-erve Board

- -

As security for outstanding notes *
Commercial paper

Total

1 2 ,1 8 7

Amount of commercial paper delivered
to Federal Reserve Agent




90 ,733

1 4 ,1 2 1

8,763

Atlanta Chicago St. Louis Minnls. Ras-Cy. Dallas 3- Fran- Total

3 ,4 6 0

■797

1,162

192

880

15 ,500

1 4 ,970

3,950

5 ,3 1 0

6,250

2,890

4 ,9 2 1

5,347

----

19,187

2 4 ,5 1 3

3 ,H 2

4 ,9 2 9

- - *

4 ,1 4 2

1 6 ,7 0 2

5,347

1,1 0 0

20,380

1 ,2 2 9

1 ,2 4 0

3-3,360

11,830

1 ,6 4 0

1,415

2 0 ,4 9 9

2 4,82 5

1 ,6 4 2

1,5 2 5

145,318
518

14,369

11 ,700

92,370

--

16,213

12, 218

268,270
16^555