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STATEMENT FOB. THE PEESS. R e l e a s e d f o r p u b l i c a t i o n Sunday morning, A p r i l 2 5 ; n o t e a r l i e r . S t . 1110 Federal Reserve:Board ^ n l 24, 1920 CONDITION OF FEDERAL RESERVE BAITXS. Moderate i n c r e a s e s i n d i s c o u n t e d " b i l l s , o f f s e t i n p a r t by l i q u i d a t i o n of a c c e p t a n c e s p u r c h a s e d i n open m a r k e t and of T r e a s u r y c e r t i f i c a t e s e t o c o v e r t e m p o r a r y a d v a n c e s t o t h e Government, a r e i n d i c a t e d in^ e e era R e s e r v e B o a r d ' s weekly bank s t a t e m e n t i s s u e d a s a t c l o s e of b u s i n e s s on A p r i l 23, 1920. Net d e p o s i t s i n c r e a s e d 2 0 . 9 m i l l i o n s , a n d 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 shows a f u r t h e r r e d u c t i o n of 5 . 4 m i l l i o n s . The banks c a s h r e s e r v e s d e c r e a s e d 4 . 2 m i l l i o n s . As a c o n s e q u e n c e t h e 1 e s e r v u r a 10 shows a d e c l i n e f r o m 43*3 t o 43 p e r c e n t . Loans s e c u r e d by U. S. war o b l i g a t i o n s show a n i n c r e a s e of 17-9 m i l l i o n s , and o t h e r d i s c o u n t s - a n i n c r e a s e of 4 9 , 1 m i l l i o n s , w h i l e a c c e p t a n c e h o l d i n g s f e l l o f f 1 2 , 1 m i l l i o n s , and T r e a s u r y c e r t i f i c a t e s - 3 b . 7 m i l l i o n s . T o t a l e a r n i n g a s s e t s show a n i n c r e a s e of 1 8 . 2 m i l l i o n s o v e r t h e t o t a l r e p o r t e d t h e week "before • Of t h e t o t a l of 1 , 4 4 S . S m i l l i o n s of l o a n s s e c u r e d by U. S. war o b l i g a t i o n s , 6 7 7 . 5 m i l l i o n s , o r 4 6 . 7 p e r c e n t , were s e c u r e d ^ r t y bonds, 2 9 2 . 2 m i l l i o n s , o r 2 0 . 2 p e r c e n t , by V i c t o r y n o t e s , and ^ 7 9 - 1 J 0 1 1 * 1 . » 3 3 . 1 p e r c e n t , by T r e a s u r y c e r t i f i c a t e s , a s a g a i n s t 4 b . c , 2 1 . 5 a n a X O 5K Richmond, Chicago, S t . L o u i s , M i n n e a p o l i s and Kansas C i t y i>ariks, a s a g a i n s t 101.4 T r i l l i o n s t h e week b e f o r e , w h i l e a c c e p t a n c e s h e l d a t p r e s e n t by t h e C l e v e l a n d and San F r a n c i s c o banks con-prise a b o u t 8 . 4 m i l l i o n s of b i l l s acquired, f r o m t h e New York and S t t L o u i s Banks, Government d e p o s i t s i n c r e a s e d 1 2 . 2 m i l l i o n s , w h i l e members'^ r e s e r v e d e p o s i t s d e c l i n e d 4 2 . 7 m i l l i o n s , and o t h e r d e p o s i t s , i n c l u d i n g x o r e i g n government c r e d i t s - 0 . 2 m i l l i o n . The " f l o a t " c a r r i e d by t h e R e s e r v e i>ariks and t r e a t e d a s a d e d u c t i o n f r o m g r o s s d e p o s i t s d e c l i n e d 5 1 . 6 m i l l i o n s , w i t h t h e consequence t h a t n e t d e p o s i t s work o u t 2 0 , 9 m i l l i o n s m o r e t h a n t h e v e e , b e f o r e . B e s i d e s t h e d e c l i n e i n 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 , t h e bancs r e p o r t a f u r t h e r d e c r e a s e of 5 - 9 m i l l i o n s i n t h e i r a g g r e g a t e l i a b i l i t i e s on ' F e d e r a l R e s e r v e Bank n o t e s . Gold r e s e r v e s , f o l l o w i n g f u r t h e r e x p o r t w i t h d r a w a l s , show a d e c l i n e of 5 . 6 m i l l i o n * , w h i l e o t h e r c a s h r e s e r v e s , l a r g e y s i l v e r , show a g a i n of 1»4 m i l l i o n s . Released, f o r p u b l i c a t i o n R E S O U R C E S Gold and g o l d c e r t i f i c a t e s Gold s e t t l e m e n t f u n d - F.R- Board Gold w i t h f o r e i g n a g e n c i e s T o t a l g o l d h e l d by banks Gold w i t h F e d e r a l R e s e r v e Agents Gold redemption f u n d Total gold r e s e r v e s Legal t e n d e r n o t e s , s i l v e r , e t c . Total reserves ( S e c u r e d by government war o b l i g a t i o n s B i l l s discounted ( A U o t h e r B i l l s bought i n open m a r k e t T o t a l b i l l s on hand U. S . Government bonds U . S . Victory notes U. 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 Total earning a s s e t s Bank p r e m i s e s U n c o l l e c t e d ite:ns and o t h e r d e d u c t i o n s from g r o s s d e p o s i t s 5$ Redemption f u n d a g a i n s t F-R.Bank n o t e s All other resources TOTAL RESOURCES L I A B I L I T I E S Capital paid-in Surplus Government d e p o s i t s Due t o members — R e s e r v e a c c o u n t Deferred a v a i l a b i l i t y items Other d e p o s i t s , i n c l u d i n g f o r e i g n government c r e d i t s Total gross d e p o s i t 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 F . R. Bank n o t e s i n c i r c u l a t i o n - n e t l i a b i l i t y All other l i a b i l i t i e s TOTAL LIABILITIES R a t i o of t o t a l r e s e r v e s t o n e t d e p o s i t and F . R . n o t e l i a b i l i t i e s combined R a t i o of g o l d r e s e r v e s t o F . R . n o t e s i n c i r c u l a t i o n a f t e r s e t t i n g a s i d e 35$ a g a i n s t n e t d e p o s i t l i a b i l i t i e s St.1110a COMBINED^EESOUECES AND LIABILITIES OF THE 1<'EDKRAL RESERVE BANKS. A p r i l 16. 1920 A p r i l _23 1420 $189,229,000 $185,654,000 360,088,000 37*+, 3 SO, 000 112.781.000 112.781.000 662, 098,000 672,815,000 1,170,313,000 1,150,658,000 122. 883.000 126.220.000 605, 809,000 $1,955,294,000 $1,949,693,000 945, 1,109, 113. 2,169, JO. 2,240, 531,000 949,000 436.000 216,000 Zf882,854,000 2,827,975,000 26,799,000 916.000 152,CuO 6 1,760, 7 2 , 0 0 0 189, 7 4 0 , 0 0 0 1&2, 822,000 2, 136, 2 3 4 , 0 0 0 27, 135,000 267.066.000 301.728.000 191.501.000 3,176,785,000 3,15S,570,000 13,438,000 5.178.000 _ _ _5 . _1 0_5 ._0 0_0 14,015,000 2,354,870,000 10,574,000 630,614,000 8,176,000 6,234,413,000 5,252,687,000 132.437.000 153.875.000 2,083,568,000 1,445,804,000 2,087,731,000 1,430,888,000 980,303,000 1,029,37S, 000 4o4.672. 000 A p r i l 25. 1919 $340,022,000 4l6.784.000 26,797,000 68,000 68,000 12,123.000 956,669,000 12,328,000 817,028,000 6,108,325,000 91,272,000 91,364,000 120,120,000 42,810,000 1,556,092,000 589,283/000 l e e r 4.40(000 120,120,000 015,000 466,000 1.6=4; 3 2 0 , 0 0 0 677,282,000 2,590,615,000 3,068,307,000 120,631,000 % 726,000 30,595,000 1,898,810,000 102.657.000 8.101.000 491, 605,000 135, 057.000 2,709,344,000 3,073,693,000 186,501,000 708,000 2,549, 5 5 2 , 0 0 0 2,322, 158, 8 4 8 , 0 0 0 J O 098.000 5,252,687,000 6,108,325,000 53.483.000 6,234,413,000 43.0 43.3 52.1 47-7 4g.o 63.8 57* 288 r 000 H a l 3 x s s d f o r p u b l i c a t i o n Sunday m o r n i n g , A p r i l 2 5 , 1920; n o t e a r l i e r . RESOURCES A2CD LIABILITIES OF THE FEDERAL RESERVE 3A1SIS AT CLOSE OF BUSINESS R E S O U R C E S F e d e r a l r e s e r v e Bank of B o s t o n Kew York Phi l a - C l e v e l . I H e h z . A t l a n t a Chicago Gold and g o l d c e r t i f i c a t e s 11,517 95,516 1,053 10,254 2,446 6,908 24,381 Gold s e t t l e m e n t f u n d - p . h . B o a r d 35.353 109,558 28,657 39.385 17,511 10,874 57,970 Gold W i t h f o r e i g n a g e n c i e s 8,233 41,390 9,023 9,248 5,526 4,060 13,421 T o t a l g o l d h e l d by b a n k s 55,103 2 % , 4 6 4 3 8 , 7 3 3 5 8 , 8 8 7 257483 2 3 , 8 4 2 9 5 , 7 7 2 Gold w i t h F . R . - A g e n t s 121,704 308,204 88,357 144,518 4 2 , 5 4 i 54,678 163,496 Gold r e d e m p t i o n f u n d 17,715 26,965 11,028 950 5,968 6,514 32,790 Total gold reserves 194,522 551,633 1 3 8 , l 4 s 2 0 4 , 3 5 5 7 3 , 9 9 2 8 5 , 0 3 4 2 9 2 , 0 5 5 Legal tender n o t e s , s i l v e r , e t c . 6,914 106,152 705 1,395 495 1,500 9,173 Total r e s e r v e s 20174J6 687,785 138,853 205,750 7^,487 86,534 301,231 B i l l s discounted: (a) S e c u r e d "by Govern--ent war obligations All o t h e r B i l l s b o u g h t i n open m a r k e t ( b ) T o t a l b i l l s on h a n d U . S . Government bonds U.S. Victory n o t e s U . 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 Total earning a s s e t s Bank p r e m i s e s Uncollected i t e r s and o t h e r dea u c t i o n s fro::: g r o s s d e p o s i t s 5^ Redemption f u n d a g a i n s t F . R . Banknotes i ^ l otner resources TOTAL RESOURCES (a) I n c l u d e s b i l l s d i s c o u n t e d f o r o t h e r F . E . Banks, v i z : (b) Includes bankers' acceptances bought fro?, o t h e r F.R.Banks: With t h e i r endorsement Without t h e i r endorsement 84,866 634,032 176,231 116,956 $4,844 60,932 126,552 St.1110b APRIL 2„", 1 9 2 0 . IIn t h o u s a n d s of d o l l a r s . ) S t . L o u i s 1.2 n n . K a n s . C y . D a l l a s San F r a n . T o t a l 4,343 7,267 577 S,044 11,34s 185,654 10,433 5,874 26,805 3.434 27,526 374,380 5,301 ",045 5,413 2,933 5,188 112,781 20,077 17,186 32,795 l 4 , 4 l l 44,062 672,815 45,893 34,343 36,156 29,129 81,609 1,150.658 6,830 157 4,653 3,25b 9,394 126,220 7 2 , 8 0 0 51,686 7 3 , 6 o 4 4 6 , 7 9 6 1 3 5 , 0 6 5 1 , 9 4 9 , 6 9 3 5,010 89 1,102 805 535 133=87$ 77,810 51,775 7^,706 47,601 135,600 2,053,568 49,363 75,920 185,06l 33,160 66,121 36,770 47,803 290,339 60,547 27,400 142,731 2,981 56,741 11,202 7 , 5 0 1 59,532 2,189 188,186 961,524 212,372 239,818 102,816 116,236 476,423 112,099 561 1,457 1,386 833 1,235 114 4,477 1,153 5 50 10 3 21,663 64,657 3 0 , 9 3 5 2 3 , 3 6 8 1 2 , 2 6 0 1 5 , 6 6 6 3 9 , 6 3 6 1 7 , 8 5 1 210,415 1,027,988 244,693 264,029 116,311 132,019 520,"53^131,103 1,184 3,263 500 1,156 640 $64 2,ll6 866 64,964 166,891 67,904 78,014 6l,4o4 1,375 381 3,115 856 1,300 699 831 347 451 368 33,567 109,946 539 151 18,050 29,055 55,453 79,017 6,505 46l 80,008 108,533 8,868 115 - 8,502 13,347 88,625 130,748 524 530 47,023 50,900 1,448,804 25,514 70,673 1,029,378 b 1,340 86.089 04 672 76,877 207,662 2,882,854 2,632 26,797 3,966 63 1 0 , 8 5 1 2 6 7 , 0 6 6 8,300 89,143 221,175 3,176,785 12,328 231 754- 47,001 21,525 61,833 60,787 43,192 817,028 623 367 459 996 259 562 184 1,465 34O 13,438 5,178 1,722 1,090 106 479,755 1,889,928 453,949 550,127 253,661 253,374 936,641 257,770 163,020 269,066 199,031 402,003 6 , 1 0 8 , 3 2 5 20,260 - 63,996 . - , ... - 53,652 - 5,999 - v - - - - - - „ - - 5,000 - - - 2,371 142,908 5,999 2,371 St-1110c R e l e a s e d f o r p u b l i c a t i o n Sunday m o r n i n g , A p r i l 2 5 , 1920; n o t e a r l i e r . RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS A'i' CLOSE OF BUSINESS APRIL 2 3 , 1920. ( i n t h o u s a n d s of d o l l a r s . ) L I A B I L I T I S S Total P h i l a > C l e v e l - Richm. A t l a n t a C h i c a g o S t . L o u i s l.'dnn. X a n s . C y . D a l l a s San F r a n . New York Boston F e d e r a l R e s e r v e Bank of 1 4 , 1 6 9 4,724 3,633 12,743 Capital paid-in 8,198 9,945 7,196 3,238 4,214 3,527 6,038 91,364 23,73 j 5,820 4,695 1 4,292 Surplus 8,805 Q,0S9 3,724 45,082 3,569 8,359 6,116 3,030 7,539 120,120 Government d e p o s i t s 674 1,740 671 ,1,910 2,931 1,83: 2,219 18,835 1,502 4,482 5,187 42,810 , 779 iftie t o members - R e s e r v e a c c o u n t 749,020 104,832 135,006 58,366 53,215 264,069 67,009 47,33S 119,222 81W75 61,191 114,44q 1 , 8 5 6 , 0 9 2 119,633 54,337 60,735 46,308 28,002 68,069 Deferred a v a i l a b i l i t y items 33,312 16,853 51,728 5 3 , 8 5 5 3 6 , 1 1 1 20-734*9 58t7^r Other deposits including f o r e i g n government c r e d i t s 5.453 43.625 6,312 6.122 3.579 2.839 9,802 3.686 2,265 3.624 2.010 Total gross deposits 178,622 931,113 168,412 204,343 108,927 85,796 342,611 1 0 5 , 9 1 7 6 7 , 2 3 5 1 4 0 , 7 5 6 103,794 153,089 2 , 5 9 0 , 6 1 5 F.B. notes i n actual c i r c u l a t i o n 267,634 832,704 245,238 307,529 123,752 147,008 529,499 131,767 SI,606 99,593 79,584 222,093 3,068,307 F . R. Bank n o t e s i n c i r c u l a t i o n net l i a b i l i t y 9,370 14,091 8 , 3 9 1 10,118 2 8 , 2 5 9 5,681 15,957 180,631 3 7 , 9 1 7 19,020 1 4 , 5 6 9 9,060 7,698 All o t h e r l i a b i l i t i e s 2.124 4,27b 2,047 4.352 2,323 9,237 1,691 2,430 3,853 4,is4 1,398 57,283 19,373 • TOTAL LIABILITIES 479,755 1,889,928 453,949 550,127 253,661 253,374 936,641 257,770 163,020 269,066 199,031 402,003 6,108,325 ME M0 R AN D A "Contingent l i a b i l i t y as e n d o r s e r - on Discounted paper rediscounted w i t h o t h e r F - R. Banks Bankers' a c c e p t a n c e s s o l d to o t h e r F . R. Banks C o n t i n g e n t l i a b i l i t y on b i l l s p u r chased for-, f o r e i g n c o r r e s p o n d e n t s 42,085 24,872 23,375 30,668 10,108 11,800 142,902 5,990 5,999 16,188 16,158 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION. R. n o t e s o u t s t a n d i n g F . R. n o t e s h e l d by bank ^ F-R.notes in actual circulation 276,691 1.057 267,634 949,306 258,715 322,476 129,130 152,932 562,591 150,127 83,404 106,023 1.798 6,430 83,723 260,022 3,335,140 832,704 245,238 307,329 123,752 147,008 529,499 131,767 81,606 99,593 79,584 222,093 3,068,307 116.602 13.477 14.647 5.378 5.924 33.092 18.360 4.139 37.929 266.833 DISTRIBUTION OF BILLS AND U . S . CERTIFICATES OF INDEBTEDNESS BY MATURITIESW i t h i n 15 d a y s Bills discounted B i l l s b o u g h t i n open m a r k e t U". 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 l o t o 30 d a y s 31 t o 60 d a y s 1,439,306 81,846 285,414 39,724 424,217 174,089 5,806 2,000 5,798 6 l t o 90 d a y s 297 , 87 5 59,013 13,128 Over 90 d a y s Total 31,370 2,478,182 +04,672 240,334 267,066 St.lllOd R e l e a s e d f o r p u b l i c a t i o n Sunday morning, A p r i l 25, 1920; n o t e a r l i e r . FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS APRIL 23, 1920. ( i n thousands of d o l l a r s . ) Boston FEDERAL RESERVE NOTES: Received, from C o m p t r o l l e r R e t u r n e d to C o m p t r o l l e r Chargeable to F . E. Agent I n hands of F- E* Agent I s s u e d t o P»R. Bank l e s s amount r e t u r n e d to F . R . Agent f o r redemption rCOLLATERAL SECURITY FOR OUTSTANDING NOTES: Gold and r o l l c e r t i f i c a t e s on hand Gold redemption f u n d New York Phi l a . C l e v s l . Bichrr. A t l a n t a Chicago S t . L o u i s i-linn. Kans.Cy. D a l l a s San F r a n . 557,000 2,130,220 553,200 560,700 320,6140 210.609 1,057.174 254.605 220,314 160.226 122. -03 326,391 1,073,706 345,356 160,4i4 213,197 49.700 276,691 900 16,504 298,595 336,000 964,160 377,729 151.493 556,431 ig4, 743 - 13,461 11,49s 32,025 - 17,493 1,541 2,500 2,17s - 13,052 9,352 2,582 1,991 4o,43i 4i,ooo 50,000 154,144 * E l i g i b l e p a p e r - ninimuir. r e q u i r e d 1S4.957 641.102 170.125 177.qss 26.589 98.254 276,691 949,306 183,136 959,307 165,7-43 232,961 6,79,^ 258,715 322,476 129,130 152,932 399.095 267,032 3,737,519 6,0)0—11,12? 7,010 -^402^673 95,759 113,235 U76.U13 112,099 - -3,723 7,^31 260,022 3,335,1^0 - 253,931 3,296 6,o64 15,930 102,190 19,300 32,56o 15,234 65,679 79^,537 54, 59^ 17^,413 2,154,482 104.234 Uq,o6l 562,591 150,127 3,013,121 94,845 9 0 , 1 9 9 112,053 2,880 100,000 76,559 95,000 ^35,720 6,750,94-0 6 9 , 5 5 1 lp7,65j—6,1,.93 2 l 6 o , b o 5 949,306 258,715 322,476 129,130 152,932 562,591 150,127 83,404 106,023 io4,ooo mOUNT OF ELIGIBLE PAPER DELIVERED TO F . R. AGENT 166,567 124.400 19.650 25.910 31.254 60.265 23.s4o 1d,44O Gold S e t t l e m e n t Fund - F.R.Board Total 318,060 160,0so 219,720 156,720 Total 83,4o4 69 , 867 106,023 6 7 , 3 5 2 108,426 83,723 260,022 3,335,1^0 76,877 195.100 2 , 8 1 5 . 0 9 ^
@FedFRASER