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STATEMENT FOR THE PRESS Released for publication St.2212 Friday morning, August 15; Federal Reserve Board not earlier. - August IS, 1321. CONDITION OF FEDERAL RESERVE BANKS Further gains of $24,400,000 of gold and of $24,600,000 of total cash reserves, accompanied by a reduction of $17,100,000 in Federal reserve note circulation and an increase of $8,800,000 in deposit liabilities, are indicated in the Federal Reserve Board's weekly bank statement issued as at close of business on August 17, 1921- The banks1 reserve ratio shows a rise for the week from 65 to 65*8 per cent. All classes of earning assets show smaller totals than the week before: bills secured by United States Government obligations - by $3,200,000, other discounts - by $11,300,000, acceptances purchased in open market - by $3,100,000, Pittman certificates to secure outstanding Federal reserve bank note circulation - by $3,000,000 and other Treasury certificates, largely held under repurchase agreements by the New York and Chicago reserve banks - by $11,300,000. Total earning assets in consequence of the changes noted show a further reduction for the week of $32,100,000 and on August 17 stood at $1>799>300,000, or about 44 per cent below the total reported about a year ago. Of the total holdings of $559?700,000 of paper secured by United States Government obligations, $367,200,000, or 65.6 per cent, were secured by Liberty and other U. 5. bonds, $l6l,300,000, or 28*2 per cent, - by Victory notes, $5,300,000, or 1 per cent, - by Treasury notes, and $25,900,000, or 4.6 per cent, - by Treasury certificates, compared with $370,700,000, $165,100,000, $5,200,000 and $21,900,000 reported the week before. Discounted bills held by the Boston, New York and Cleveland banks include $54,400,000 of bills discounted for the Richmond, Atlanta, Minneapolis and Dallas banks, compared with $53,300,000 reported on the previous Wednesday. The Richmond bank reports a further reduction of its accommodation at the New York reserve bank from $24,000,000 to $20,000,000, the Atlanta bank shows an increase in the amount of bills rediscounted with the Boston reserve bank from $1,500,000 to $2,100,000. The reserve bank of Minneapolis reports an increase in bills discounted with the New York bank from slightly over $10,000,000 to $12,600,000, while the Dallas bank shows an increase in its accommodation at the Boston and Cleveland banks from $17,700,000 to $19,800,000. As against a decrease of $16,600,000 in Government deposits, there is shown an increase of about $20,000,000 in members1 reserve deposits, and of $5,400,000 in other deposits, composed largely of non-membersT clearing accounts and cashier's checks. In addition to the decrease of $17,100,000 in Federal reserve note circulation, there is also shown a reduction of $3,800,000 in the reserve banks1 combined liabilities on Federal reserve bank notes in circulation. Since December 23, 1920, when the high total of $3,404,931,000 was reached, Federal reserve note circulation has fallen off over $900,000,000,- or over 26 per cent. During the same period the reserve banks* aggregate liabilities on Federal reserve bank notes have decreased by over $104,000,000, or nearly 48 per cent. Owing largely to increases in capitalization of member banks in the Kansas City, Philadelphia, New York and Boston districts, the reserve banks' paid-in capital shows an increase of $296,000 for the week. Released for publication Friday morning, Aug. 19, 1921* not earlier, St.2212a RESOURCES AHI LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED. R E S O U R C E S (In thousands of dollars) Aug. 17. 1921 407,452 Gold and gold certificates . . . Gold settlement fund - F.R.Board 418,738 Gold with foreign agencies . . '. Total gold held by banks -» . . 826,190 Gold with Federal Reserve Agents 1,660,062 Gold redemption fund 114.043 Total gold reserves . . . . . 2,600,295 Legal tender notes, silver, etc. n 2,745,468 • Total reserves . „". . Bills discounted; Sec. by U.S. Government obligations 559,689 All other ....... 952,428 Bills bought in open market . . . . 41.910 Total bills on hand . . . . . . . 1,554,027 U.S, bonds and notes . 34,028 U.S. Certificates of indebtedness: One-year certificates (Pittman Act) 203,375 All other . . . . . . . 7iS76 Total earning assets 1,799,306 Bad: premises 26,952 5$ Redemption fund against F. R, Bank notes . . . . . . . . 9,471 Uncollected items 531,871 All other resources 12x302 5,130,370 TOTAL RESOURCES L I A B I L I T I E S Capital paid in 102,896 Surplus 213,824 Reserved for Gov't, franchise tax: 47,006 Deposits: Government . . . 19,014 Member bank - reserve account 1,621,570 All other. . . 3£L£ti5 Total deposits 1,671,249 F.R. notes in actual circulation . 2,503,642 F.R. Bank notes in circulation net liability 114,502 Deferred availability items . . . . . . 458,120 All other liabilities. . . . . . . . . . 19^31 TOTAL LIABILITIES 5,130,370 .Aug. 10. iqa 423,005 408,756 831,761 1,640,626 103.514 2,575,901 144.947 2,720,848 562,918 963,741 44.978 1,571,637 34,152 Aug. 20.1920 183,125 366,892 111.455 66l,472 1,164,264 140.615 1,966,351 155.486 2,121,837 1,301,609 1,320,820 _120o59I 2,943,026 26,878 206,375 259,375 1,831,379 3,247,062 9,516 483,486 16.787 5,088,736 11,600 781,125 4.942 6,181,220 102,600 213,824 46,608 164,745 13^215 26,720 35,595 14,654 96,759 54,959 1,601,583 1,793.675 44.828 1,662,472 1,893,462 3,174,725 118,301 198,563 591,094 __21t29k 2,520,784 405,696 18.451 5,088,7-36 6ljJLZ2 6,181,220 Ratio of total reserves to deposit and F.R. note liabilities combined . . . 65.8# 65.0$ *43,5# Ratio of gold reserves to F.R. notes in circulation after setting aside 35% against deposit liabilities . . 86.3$ 84,9$ *48.1$ * Calculated on basis of net deposits and F.R. notes in circulation. Released for publication Friday morning, August 19, 192I; not earlier. St.2212b. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS AUGUST 17, 1921. (In thousands of dollars) RESOURCES Federal Reserve Bank of Boston New York Phila. Clevel- Richn. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Total Gold and gold certificates 8,150 318,093 2,295 6,608 2,725 4,809 21,549 2,981 8,634 2,177 8,646 20,785 407,452 Gold settlement fund - F.R.Board 39,771 48,627 58,200 22,471 1L295, 5,660 107,773 18,338 7,98b 44,093 4,602 29,922 418,738 Total gold held by banks 39,445 357,864 50,922 64,808 25,196 10,469 129,322 21,319 16,620 46,270 13,248 50,707 826,190 Gold with F. R. Agents 186,874 472,526 147,512 181,565 30,220 49,294 306,521 57,392 19,239 37,669 10,281 160,969 1,660,062 Gold redemption fund 26,981 20,000 6,395 8,520 12,018 4,653 16,348 3,672 2,065 2,348 3,340 7,703 114,043 Total gold reserves 253.300- 850,390 204,829 254,893 67,434 64,4l6 452,191 82,383 37,924 86,287 26,869 219,379 2,600,295 Legal tender notes, silver, etc. 16,548 61,969 3,010 5,816 4,136 7,762 17,923 13,130 928 3,949 6,598 3,404 145,173 Total reserves 269,848 912,359 207,839 260,709 71,570 72,178 470,114 95,513 38,852 90,236 33,467 222,783 2,745,468 Bills discounted: (a) Secured by U.S. Govt, obligations 38,095 167,961 85,949 38,406 28,546 35,023 71,198 28,100 4,252 18,056 6,086 38,017 559,689 All other 42,658 200,175 29,371 95,177 71,800 67,308 146,806 45,714 65,400 48,139 48,166 91,714 952,428 Bills bought in open market 6,634 20,269 1,887 1,830 2,409 l,l4o 2,985 357 1,018 70 3,311 41,910 Total bills on hand 87,387 388,405 117,207 135,413 102,755 103,471 220,989 74,171 69,652 67,213 54,322 133,042 1,554,027 U. S. bonds and notes 555 1,005 1,481 844 1,233 10,099 4,490 1,153 117 8,868 3,979 204 34,028 U. S. Certificates of indebtedness: One-year certificates (Pittoan Act) 17,436 52,276 25,780 19,799 6,260 10,564 33,612 11,568 5,480 8,320 2,400 9,880 203,375 All other 479 5,522 116 L__i I 1,133 430 143 7,876 ,5L Total earning assets 105,857 447,208 144,584 156,057 110,248 124,135 260,224 87,322 75,300 84,4oi 60,701 143,269 1,799,306 Bank premises 3,950 5,515 529 2,383 2,351 753 4,429 627 658 3,155 1,970 592 26,952 5% Redemption fund against F. R. Bank notes 772 1,659 700 1,239 363 608 1,665 523 296 916 236 494 9,471 Uncollected items 43,729 120,167 49,263 50,042 43,161 19,390 65,875 29,021 13,579 41,633 23,013 32,995 531,271 All other resources 538 2,615 383 913 283 761 1,917 736 561 496 2,309 5,790 17,302 TOTAL RESOURCES 424,73 4 1,489,523 403,298 471,343 227,976 217,825 804,224 213,742 129,246 220,837 121,696 405,926 5,130,370 (a) Includes bills discounted for other F. R. Banks, viz: 17,061 32,597 - 4,763 - - - - 54,421 Released for publication Friday morning, Aug. 19, 1921;riotearlier. RESOURCES AND LIABILITIES OF THE FEDERAL RESEK.YE BANKS AT'CLOSE OF BUSINESS AUG. 1J 1921, St 2212c (In thousands of dollars) ' ' L IA BItlTIES Boston New York Phila. Clevel. Richn. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fr n, Federal Reserve Bank Total Capital paid in 26,923 2,656 7.935 102,896 l 8 7 414 16,342 Surplus 59,318 17,564 n5fi % ginu fiiol 49,330 ' 5 3 6 M 7,113 ' 15,207 213,824 Reserved for Govt, franchise tax 3,o6g is,677 2,395 2,022 2,043 3,047 8,942 1,143 1,633 1,635 2,4oi 47,006 Deposits; Government 583 283 847 Si 4 895 1,254 5,728 2,122 1,357 2,087 1,442 1,902 19,014 Member "hank - reserve account 109,35% 610,152 103,337 138,495 51,603 42,929 237,957 6i[i64 4 0 M 5 72,529 40,727 112,878 l,62li570 All other 887 ,15,133 1.320 1.073 476 820 r—511 -333 3,507 LJJ'O 539 4.770 10.66s Total deposits 110,824 625,568 105,504 i4o,082 52,974 44,576 247,192 64,106 ^2,379 75 , 786 42,708 119,550 1,671,249 F. R. notes in actual circulation 241,611 637,645 216,543 236,790 109,675 131,745 433,247 99,298 55.617 75,581 39,9^6 225,944 2,503,642 F. R. Bank notes in circulation net liability 6,046 28,492 7,320 1 2,379 5,201 8,2a 13,173 Deferred avai1abi1ity iterns 32,471 88,663 43,762 45,385 40,542 16,502 53,780 All other liabilities 1.110 4,177 881 1^283 1.124 904 3.042 TOTAL LIABILITIES 424, 734 1,489,523 403,298 471,343 227,976 217,825 80 4,224 Ratio of total reserves to deposit and \R, MEMORANDA note liabilities combined, per cent 76.6 72.2 64,5 69.2 44.0 40,9 69.1 Contingent liability as endorser on discounted paper rediscounted with other F. R» Banks 20,000 2,071 Contingent liability on bills purchased for foreign correspondents 3,279 F, R, notes outstanding F. R, notes held by banks F, R, notes in actual circulation Bills discounted Bills bought in open market U, St Certificates of indebtedness 5,99% 28,531 1.015 213,742 58.5 4,475 13,044 1.246 129,246 39.6 12,597 14,075 38,653 1.241 220^837 59-6 3,707 5,419 114,502 22,609 28,178 458,120 •1,295 Ax8l± 12A31 121^96 405^926 5,130,370 40.5 19,753 64.5 65.8 54,421 15,298 3,59% 3,683 2,201 1,617 5,345 2,111 1,213 2,156 1,168 2,066 43,731 FEDERAL RESERVE NOTES OUTSTANDING M D IN ACTUAL CIRCULATION 261,151 783,269 243,180 262,462 118,265 139,151 483,296 121,096 58,480 84,186 43,488 287,193 2,885,217 19,540 145,624 26.637 25.672 8.590 7,4o6 %.04q 21,798 2.863 8.6 OS 3,542 61,24s 381.575 241,611 637,645 216,543 236,790 109,675 131,745 433,247 99,298 55,617 75,581 39,94s 225,944 2,5037642 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 860,478 157,136 181,320 273,237 39,94b 1,512,117 24,264 8,472 4,813 4,358 41,910 19,026 32,663 12,397 13,659 133,506 211,251 Released for publication Friday morning, Aug. 13, 1921; not earlier, FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS AUG. 17, 1921, St.2212d. (In thousands of dollars) Federal Reserve Agent at Boston Nero York Phi la. Clevel. Richm. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total R E S O U R C E S Federal Reserve notes on harid Federal Beserve notes outstanding Collateral securiby for Federal Reserve notes outstanding: Gold and gold certificates Gold redemption fund Geld -"settlement fund-F.R.Board Eligible paper Amount required Excess amount held TOTAL 94,010 261,151 303,120 20,620 43,320 22,929 78,123 783,263 243,130 262,462 118,265 139,151 167,720 24,540 14,090 3,840 25,012 31,960 229,344 423,296 121,096 52,420 84,126 43,428 287,193 2,225,217 5,600 21,274 160,000 316,524 23,775 3,400 19,502 39.123 l?»790 3,220 5,294 136,000 122,329 145,000 27,000 40,000 6,110 15,276 3,451 290,645 47,331 13,052 1,927 3,309 4,200 34,3.00 5,131 373,992 2,915 16,109 125,550 2,235 144,280 1,160,520 74,277 310,743 95;56g 20,297 32,04% 29,857 176,775 63,704 39,241 46,517 -33*207 1:6,224 1,225,155 44,211 10, Uno 30»030 ?.0,635 . 21:051 6,555 """ <f v. "O 13,110 ,"92 b'Ui'L .lit M r C 1 uO 629.422 1,919=456 512,124 622,417 271,913 370,026 1,172,523 277,152 161iCSC 192,847 133,039 6:2,901 Of oCv , ;C. L I A B I L I T I E S Net amount of Federal Reserve notes received frem Comptroller of the Currency 355,161 1,086,329 263,200 305,782 141,194 217,334 651,016 145,636 72,570 22,026 62,500 319,153 3,714,561 Collateral received from Federal Reserve Bank; Gold Eligible paper 186,274 27,337 306,521 57,392 19,239 37,669 22C,9%6 74,124 69,271 6 7 , 1 5 2 lO.sgi 160,969 ls66o:r>62 54,252 132,773 1,506,343 TOTAL http://fraser.stlouisfed.org/ * Federal Reserve Bank of St. Louis 472,526 147,512 131.R65 30,220 49,294 360,541 100,312 135,070 100,505 103,453 629,422 1,919,456 512,124 622,417 271,919 370,086 1,178,523 277,152 161,020 192,847 133,039 612,901 6,220,966
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