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STATEMENT FOR THE PRESS Released for publication Sunday morning, April 3; not earlier. < St. 1893 Federal Reserve Board April 2, 1921 CONDITION OF FEDERAL RESERVE BANKS Aggregate gains of $35,700,000 of gold arid of $39,200,000 of cash reserves, accompanied by reductions of $ 5 1 , 700,000 in deposits and of $22,500,000 in Federal reserve note liabilities, are indicated in the Federal Reserve Board’ s weekly bank statement issued as at close of business on April 1 , 19 2 1 . The reserve ratio shows a rise for the week from 50 . S to 52 . 1+ par cent. In connection with Government purchases of Liberty bonds and Treasury certificates and with member bank sales of Treasury certificates to in vestors, reserve bank holdings of paper secured by Government obligations show a reduction of $59,800,000, whiie holdings of other discounted paper declined by $12,400,000, and those of acceptances by about $500,000. At the end of March, the Treasury, in accordance with its announced policy, redeemed $7,000,000 of "Pittman" certificates held on deposit with the Treasurer of tha United States by the reserve banks of Boston, New York, Philadelphia aid Chicago to secure Federal reserve bank note circulation, while the reserve banks*aggregate liabilities on such notes are reported $5,800,000 less than the week before. Holdings of other certificates^ largely under repurchase agreements, show an increase of about $ 500, 000. Total earning assets, in consequence of the reductions noted, declined by $ 79 , 200,000 and at the close of the week stood at $ 2 , 613 , 200, 000, com pared with $3,197*000,000 on the corresponding Friday last year. Of the total holdings of $950,700,000 of paper secured by U . S, Government obligations, $608,600,000, or 6^f per cent, were secured by Liberty and other United States bonds; $268,200,000, or 28.2 per cent, by Victory notes, and $73*900,000, or 7*8 per cent, by Treasury certifi cates, compared with $ 650 ,100 , 000, $ 265, 800,000 and $94 , 500,000 shown the week before. Discounted bills held by the Cleveland Reserve Bank include $14,800,000 of bills discounted for ths Dallas Bank, compared with $14,700,000 e weak before, while acceptance aoldings of the Cleveland and San Fran cisco Banks are shown inclusive of over $500,000 of bank acceptances purchased from the New York Bank, compared with $3,300,000 shown on ths previous Friday. In keeping with the loan liquidation above shown, all classes of deposits show substantial decreases for the week: Government deposits by $32 , 600,000; reserve deposits - by $ 2 , 100 ,000, and other deposits, by about $17,000,000, Federal reserve note circulation shows a further reduction for the week of $22,500,000, the April 1 total of $2,908,200,000 being $496,800,000 below the high figure of December 23, 1920, and $169,200,000 below the total reported on the corresponding Friday last year. Released for publication Sunday morning, April 3, .1921; not earlier. St,1293a. RESOURCES AND LIABILITIES OP THE TWELVE FEDERAL RESERVE BAMS COMBINED. (In thousands of dollars) R E S O U R C E S Gold and gold certificates - • Gold settlement fund - F.R.Board Gold with foreign agencies . - . Total gold held by banks Gold with Federal Reserve Agents Gold redemption fund . ............... Total gold reserves ............... Legal tender notes, silver, etc. Total reserves . . . . . . . Bills disco\mted: Sec. by U .S. Government obligations All other Bills bought in open m a r k e t ............... Total bills on hand U. S. Government b o n d s ...................... ... U. S. Victory n o t e s ............................. U. S. Certificates of indebtedness: One-year certificates (Pittman A c t). All other ............................................ Total earning assets . . ............... Bank p r e m i s e s .................................... 5$ Redemption frnd against F. R, Bank notes . ......................... Gold abroad in custody or in transit Uncollected items . . . . . . . . . All other resources ......................... TOTAL RESOURCES ...................... Apr - 1, 1921 Mar. 25.1921 Apr. 2,1920 299,^85 *+97,790 291,960 509,913 171.5S5 379,552 112.721 801,873 663,92*+ 1,169,137 .. i i L ! 3 £ 1,950,259 797,275 i,3po,3*+5 iUs.819 2 ,^ 3 9 2lU ,792 2,U6l,~231 1 , 21+5,507 ..1.61x125 2 , 210,765 211,212 2 , 1+21,977 130,162 2,080,1+22 1,010,373 1,276,275 123.056 2 , 1+09, 70*+ 25,2^7 19 1,1+00,661+ 999,81+9 1+2*+, 0*+l 2 , 824, 55I+ 26,792 6s 2,613,183 25^,375 ..... 2,490 2 , 692, 1+35 259,375 26.175 3,196,970 20,651 20, 522 12,009 11,856 12,068 13,689 950,688 1 , 263,907 122 , U31 2 ,3 37 ,OSS 25,720 19 2U7 , 375 2 , 983 555^06" lOr^ee 5 , 672 , 1+36 3,300 59.2,950 ..... 5,753,167 231,910 ..5x527 6,i4o,593 L I A B I L I T I E S Capital paid i n ................................ Surplus ...................................... * . . Deposits: , Government deposits . .................. Due to members - reserve account Other deposits, including foreign goverrment credits .................. Total deposits ...................... F.R. notes in actual circulation . . . F.R. Bank notes in circulation net liability . . . . . .................. Deferred availability items . . . . . All other l i a b i l i t i e s ......................... TOTAL LIABILITIES ...................... Ratio of total reserves to deposit and F.R, note liabilities combined . . . Ratio of gold reserves to F*R. notes in^circrlation after setting aside against deposit liabilities . • 101,113 202,036 • : 202,036 82,099 1,67 2, U02 n U ,6 s 5 1 , 671+, 536 10 , 1+16 1 , 299,063 34.732 1,789,233 1,81+0,887 131,931 2,041,412 2, 9©8 i 153 2,930,729 3,077,323 169,722 175,U90 I+5I+, 279 M & tl 5,753,167 196,594 101,137 *+51,270 50,885 5 , 672 , 1+36 51,666 91 , 28U 120,120 565,280 1+7.980 6 , i Uo ,.593 52 -U56 5 0 .836 * 1+2 .9$ 63 . 1 # 6 0 . 7# * 1+7 .1+$ ♦Calculated on basis of net deposits and F.R. notes in circulation. Released for public avion Sunday morning, April 3, 1921; not earlier, RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS R E S O U R C E S Boston New York Phila. Clevel. Richm. Atlanta Chicago Federal Reserve Bank of 4,900 a , 300 6,628 3,422 7,428 214,187 3,216 Gold and gold certificates 36,499 131,932 Gold settlement fund - F.R.Board 59,039 73,442 20,192 12,856 62,478 546,119 62,255 80,070 23 ,61 4 17,756 83,778 Total gold held by banks 43,927 Gold with F. R. Agents 300,115 120,395 196,558 50,377 55,401 175,766 135,988 8,454 6 t024 6,194 . 7,026 24,948 36,000 Gold redemption fund 29.279 209,194 682,234 191,104 282,652 80,185 80.1S3 284,492 Total gold reserves 4,810 3,106 Legal tender notes, silver, etc. 14,790 151,207 4,593 • 11,97b 3,319 223,984 833,441 19 ft, 210 285,971 84,995 84,776 296,468 Total reserves .Bills discounted: (a) 335,628 106,646 62,194 152,877 56,571 128,391 Secured by U .S.Gov’ t, obligations 63,338 84,291 288,430 45,987 79,852 64,428 67,162 299,050 All other Bills bought in open market (b) 2,798 9.431 42,185 14,572 21,596 711 12,049 Total bills on hand 157,060 666,243 167,205 163,642 120,103 124,444 439.490 U, S. Government bonds 550 4,490 1,434 113 833 1,233 1,255 • — — — U, S. Victory notes 10 3 5 U, S. Certificates of indebtedness: One year certificates (Pittman Act}1 20,436 56,276 28,280 23,799 12,260 16 ,664 38,612 All other 926 2 l ......... J L 21 ....1 7 4 ____ 1,424 Total earning assets 178,225 725,193 197,845 188,305 133,598 141,225 482,669 Bank: premises 3,232 4,708 506 1,716 1,635 729 2,828 5/t Redemption fund against F. R, Bank notes 1,0 72 i , 9 i 6) 1,300 1,239 602 664 2 ,oo6 uncollected items 4i,8 98 l l 6t2gr 49 , 254 53,860 44,4i7 23,565 76,282 572 607 493 683 1.706 All other resources 519______ 2r3Tl' TOTAL RESOURCES 36,665 51,020 2,225 89 ,910 1,153 - . St,l&93D. 1921. thousands of dollars) Total Minn. Kans.Cy. Dallas-.San Fran. 2,605 299,485 6,701 17,566 8,319 7,210 29,109 17,015 27 ,l 6l 497,790 25,334 29,766 1 3 ,9 H 46,675 797,275 25,410 36,847 15,826 129,746 1 , 300,345 14-8,819 2*819. ... .4x901 I M 1 . 10*343 53,563 71,514 37,434 186,764 2,246,439 214,792 3,242 5,240 532 2 , 5.85 54,095 74,756 42,674 1 89 ,349 27461,231 13,118 56,718 - 69,836 ll6 34,147 64,253 185 98,585 8,867 l - 13,068 256 104,387 626 8,480 10,320 - 78,432 117,773 599 lj4l 950,688 12,774 48,339 49,366 113,350 1,263,907 21 16,718 122,491 62,161 178,407 2 , 337,086 25,720 1,697 3,979 19 10,880 247,375 2 2^83 74,540 190,98b 2,613,183 1,802 529 20,651 8,300 100 665 1 1 , 856/ 37,700 55^® ^ 567 1,763 502 lfrr56< K 448,930 1,683,915 443,687 531,698 265,740 251,642 861,959 232, 21s 149,548 235,267 148,101 419,731 5 , 672, 436/ (a) Includes bills discounted for other F. R« Banks, viz: - (b) Includes bankers’ acceptances bought from other F.R,Banks: endorsement - APRIL 1, (In St.Lcruis 3,213 20,857 24,070 57,916 ... 5,134 87,120 9,392 96,512 - 523 29,603 367 916 15,907 148 39.503 57 8 586 26,736 14,764 25 521 - frm> - - - l4j64 ■ l6 (f 5&2 Released for publication Sunday morning, April 3, 1921; not earlier. St.1393c. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OE BUSINESS APRIL 1, 1921. (in thousands of dollars) L I A B I L I T I E S Boston New York Phila* Clevel. Richm. Atlanta Chicago St.Louis Minn. Kans>Cy. Dallas Federal Reserve Bank Capital paid in Surplus Government deposits Due to members - reserve account Other deposits including foreign government credits Total deposits F. R. notes in actual circulation F. R. Bank notes in circulation net liability Deferred availability items All other liabilities TOTAL l ia b il it ie s 7,838 15,711 6 ,8 6 5 105,677 910 1 1 3 ,4 5 2 2 5 8 ,5 4 7 2 6 ,4 8 8 g ,6o o lo .g g o 5 6 ,4 i 4 1 7 ,0 1 0 2 0 ,3 0 5 1 0 ,0 9 6 4,028 6 ,1 0 6 6 5 9 ,6 2 0 1 0 7 ,8 7 0 1 3 9 ,6 0 2 15.7 7 6 7,793 55! 110 6 8 5 , 4 9 2 1 1 2 ,8 8 7 7 8 3 ,4 6 1 2 3 9 ,2 7 4 146,451 455 6 3 ,3 5 8 2 8 5 ,2 5 9 142,953 17,335 2 0 ,9 9 5 4 4 ,7 5 5 8 ,6 5 8 3 3 ,0 3 2 1 ,8 4 7 1 5 ,0 8 4 . 2 6 ,5 4 4 3 5 ,3 8 4 8 7 ,7 5 0 2 , 9 1 4 ____1 7 .7 6 6 4 4 8 ,9 3 0 1 , 6 3 3 , 9 1 5 Ratio of total reserves to deposit and F.R. note liabilities combined, per cent 60.2 5 ,3 3 1 1 0 ,5 6 1 .74 3 ■ 4 5 ,g i 4 2 .7 6 7 3,053 l 4 , 172 2 8 ,9 8 0 7,557 1 3 ,7 5 6 44 ’ 598 2 3 1 155s 4 ,o 4 7 S ,3 4 3 4,1+37 8,346 3 , l 4l 6 1 ,5 0 0 390 2 ,4 6 7 5 2 ,5 4 5 2 4 7 ,7 8 1 6 5 ,6 2 9 1 5 3 ,5 5 4 4 7 6 ,5 9 2 1 1 6 ,1 0 3 1 3 ,4 8 8 28,412 7,037 17,3 1 4 2.351 5 6 ,8 0 9 9 .2 1 3 2 8 ,8 9 9 1 .7 6 7 3 ,^ 9 9 6 ,9 8 0 3 ,9 1 2 4 3 ,7 5 5 492 4 ,1 3 2 5 ,9 7 0 7 0 ,4 5 9 .6 ,6 3 7 44 , 5 3 5 108,118 441 10.53 2 549 4g, 165 7 6 ,9 7 8 6 8 ,0 1 7 93,325 443,687 5 3 1 ,6 9 8 2 6 5 ,7 4 0 2 5 1 ,6 4 2 8 6 1 ,9 5 9 2 3 2 ,2 1 8 1 4 9 ,5 4 3 2 3 5 ,2 6 7 l 48 , 101 U 1 9 , 7 3 1 5 , 6 7 2 , 4 3 6 M E M 0 R A N D A 56.7 55*1 6 6 ,2 4 i .2 4i . i 537 Contingent liability on bills purchased for foreign correspondents 2,336 Total 1 0 1 ,1 3 7 2 0 2 ,0 3 6 8 2 ,0 9 9 1 ,6 7 2 ,4 0 2 34,732 5 1 ,6 1 3 1 2 4 ,8 8 2 1,7 89 , 233 59,215 231,853 2 , 9 0 8 ,1 5 3 4 o .9 5 3 .I 46.6 4 3 .9 38.5 53*1 12,117 ftnro 2 ,5 6 0 2 ,6 2 4 1 ,5 6 8 1 ,1 5 2 3 ,8 0 8 1 ,5 0 4 864 1,536 832 52*4 l 4 , 764 14,764 Bankers' acceptances sold to other F. R. Banks without endorsanent B ills discounted Bills bo-ught in open market U. S , Certificates of indebtedness 6,033 7 ,2 2 5 i 4 , 194 6 ,2 3 2 7,043 1 1 ,4 5 8 5 ,4 9 6 8 ,1 7 2 1 6 9 ,7 2 2 i 4 ,o 66 37 , 3*7 1 9 , 9 * 2 3 0 , 0 7 8 4 5 1 ,2 7 0 1 .7 7 8 2 ,4 7 2. 1 . 6 3 0 _______L.3.27______ 50, 885. Contingent liability as endorser on discounted paper rediscounted with other Federal Reserve Banks F. R ■ notes outstanding F. R, notes held by banks F. R, notes in actual circulation San Eran. 4 , 4 gg 9,159 25 /, 562 1 ,4 7 2 32,373 FEDERAL RESERVE NOTES OUTSTANDING M D IN ACTUAL CIRCULATION 271,565 918,095 263,943 315,146 149,221 159,045 520,640 139,099 70,336 102,204 6 3 , 8 4 7 2 8 9 ,9 7 0 3 , 2 6 3 , 1 1 1 4.632 „58.117 ^c 354,958 13.018 154.634 24.669 29, S£7 6,268 <5.491 4 4 ,o4g 22,996 2,519 8.S79 --~ '4 q — . 25875^7 783,461 239,274 285,259 142,953 153,554 4767592 116,103 68,017 93,325 59,215 231,853 2,908,153 DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 90 days Total 1,287,221 224,009 393,659 269,649 4o ,057 2,214,595 42,852 32,125 34,510 13,004 122,491 6,959 4,000 5,108 7,722 226,569 250,358 Released for publication S-unday morning, April 3, 1921; not earlierFEDERAL RESERVE AGENTS' ACCOTUTS AT CLOSE OF BUSINESS APRIL 1, 1921. S t .1893*1' (In thousands of dollars) Federal Reserve Agent at Boston "Kftw YorkFhila* Clevel. Chicago St.Lords Minn. Kans-Cy. Ricbca. Atlanta Dallas San Fran. Total R E S O U R C E S Ifederal Reserve notes on hand Federal Reserve notes outstanding Collateral security for Federal Reserve notes outstanding: Gold and gold certificates Gold redemption fund Gold settlement fmd-F.R.Board Eligible paper: Amount required Excess amount held TOTAL 106,4l0 271,56 5 262,001 22,540 43,430 22,229 79,476 912,09 5263 , 94-3 315,146 149,221 159 ,045 4,4oo l42,44l 26,sUo 12 ,765 520,64o 139,099 70,336 102 , 204 5,600 15,322 115,000 176,925 23,775 7,190 13,006 17,723 116,000 107,329 155,000 - 3,500 3,277 2,401 46,500 49,500 15,121 160,645 6,110 13,052 2,475 2, 15S 49,331 10,200 135,577 21,423 617,920 143,542 112,522 92,244 103,644 17.037 20,790 344,274 94,322 21,123 44-, 926 12,953 2,324 44,4^2 671,023 2,123,144 552,750 712,170 343,702 412,356 i 2,666 23,727 3,427 33,360 65,357 33,127 221,271 29,439 45,300 63,247 229,970 3,,263,111 . 4,291 4,701 12, 570 6,234 1 1 1 , 176 233 ,8 53 106,157 960,335 42,021 160,224 1,, 962,766 315,696 13,741 17,012 ,2 2 4 , o 49 313,704 177,164 241,995 170,274 642,252 7 , 663,129 L I A B I L I T I E S Net amolint of Federal Reserve notes received fcan Cctaptroller of the Currency 377,975 l, 126,096 292,483 352,576 177,450 232,521 Collateral received frcm Federal Reserve Bank: Gold Eligible paper 135,922 157,060 TOTAL 300,115 120,395 196,552 50,377 55,401 636,933 145,272 163,036 115,221 124,434 669,021 165 ,939 23,101 106, 6o4 93,226 335,270 4,024,322 175,766 439,202 25, 4io 62,653 36,247 92,544 15,226 129,746 1 , 300,345 61,762 177,236 2,272,462 57,916 29,249 671,023 2,123,144 552,750 7 12 ,17 0 343,703 4i|2,356 1,224,049 313,704 177,164 21+1,9 9 5 170,274 642,252 7 , 663,129
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