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■ ; ■STATEMENT FOE THE PEESS Released f o r p u b ltca tio h S t .22f 3. Friday morning, August 26; Federal Reserve Board, not e a rlie r,, August 2 5, 1921. CONDITION OF FEDERAL RESERVE BANKS ' Further ad d itio n s of $18,800,000 to gold and of $20,700,000 to to ta l * acc0n3I)a^ ie(:i ty a reduction of Federal reserve note c irc u la tio n by $2?>700,000>i s indicated in the Federal Reserve Board*s weekly bank state-, raent issued as a .t c lo se of business on August 24, 1921. Total deposits shoW an increase of $2,400,000 f o r the week, w hile the reserve r a tio rode f&rqm &5v*S to b6»5 per cent* v The reserve bank holdings of paper secured by U. S. government o b lig a tio n s show a decrease of $1 7 ,900,000 f o r the week, w hile other discounts increased by $1 ,200,000 and acceptances declined by $6,700,000. The banks report th e ir holdings of Pittman c e r t i f i c a t e s as $1 , 500,000 sm aller than the week b efo re, and those of other Treasury c e r t i f i c a t e s as $5,000,000 sm aller. In consequence of these changes the to ta l earning a ssets of the reserve banks were $30, 000,000 lower on August 24 than a week e a r lie r and stood at $1,769,300,000, or about 46 per cent below the to ta l reported a year ago. Of the t o t a l holdings of $ 5 4 l,800,000 of paper secured by U« S« Government o b lig a tio n s , $365»500»000, or 67*5 per cen t, were secured by L ib erty and other U, S» bonds, $147,000,000, or 27.1 per cen t, - by V icto ry n o tes, $5*300,000, or 1 per cen t, - by Treasury n o tes, and $24,000,000, or 4.4 per oent, - by Treasury c e r t i f i c a t e s , compared w ith $367, 200, 000, $ l6l ,300, 000, $5 ,300, 000, and' $25,900,000 reported the week b efo re. • 1 b i l l s held by the Boston, New York, and Cleveland reserve banks include $67,600,000 of b i l l s discounted f o r the Richmond, A tla n ta , Minneapolis and D allas banks, compared w ith $54,400,000 reported on the previous Wednesday* The Richmond bank's rediscounts w ith the New York bank remain p r a c t ic a lly un-Atlanta bank's rediscounts w ith the Boston bank increased from $2,000,000 to $8,000,000. The Minneapolis bank's rediscounts w ith the New York bank increased from $1 2 , 600,000 to $1 7 , 900, 000, and the D allas bank's rea tile :Boston ^ Cleveland banks increased from $20,000,000 to *p22,000,000$ Government deposits show an increase of $1 2 , 500,000, w hile members' reserve deposits declined by $4,600,000, and other deposits composed la r g e ly of nonmembers1 c le a rin g accounts and c a s h ie rs 1 checks declined by $5 , 500, 000* The decrease of $17,700,000 in Federal reserve note c ir c u la tio n broughtthe t o t a l vo lm e of these notes down to $2',425,900,000, the lowest fig u re since *2 ?• Federa:L r-eserve note c ir c u la tio n has not been below $2 , 500,000,000 sin ce June 27,1919, Federal reserve bank note c ir c u la tio n declm e d by $1 , 700,000 during the week under review# Released for publication Friday morning, Aug.. 26 , 1921; not e a r lie r. St.2223a. RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMCS COMBI3IED. (In thousands of d o lla r s) RESOURCES Gold and gold c e r t if ic a t e s . . Gold settlem en t fund - F.R.Board Gold w ith fo reig n agen cies . . T o ta l g o ld h e ld by banks . Gold w ith Federal R eserve Agent Gold redemption fund . . . . . T o ta l g o ld reserves . . . . Legal tender n o tes, s ilv e r , e tc T o ta l_res e rve s . . . . . B ills discounted: Sec. by U.S. Government o b lig a t ons A ll other ........................................... B ills bought in open market ' . . Total b i l l s on hand ............... U .S. bonds and n otes . . . . . . U.S. C e r tific a te s of indebtedness One-year c e r t if ic a t e s (Pittm an Act) A ll other . . . . . . . . . . Total earning a s s e ts Bank prem ises 5io Redemption fund again st F, R, Bank n otes . . . . U n collected item s . . . . A ll other resources . . . TOTAL RESOURCES . . . LIABILITIES C apital paid in ...................................... S u r p l u s ....................................................... Reserved fo r Gov’t , fra n ch ise tax D ep o sits: G overnm ent.............................................. Member bank - reserve account . A ll oth er .......................................... F.R. n otes in actu al c ir c u la tio n F.R. Bank n otes in c ir c u la tio n net l i a b i l i t y . . . . . . . . . D eferred a v a ila b ilit y item s . . A ll other l i a b i l i t i e s . . . . . . Ratio of to ta l reserves to d ep o sit and F.R, note l i a b i l i t i e s combined . . . Eatio of gold r e se r v e s to F. R. n otes in c ir c u la tio n a ft e r s e ttin g a sid e 35> again st d ep o sit l i a b i l i t i e s . . Aug. 24, 1921 Aug. 1.7. 1921 Aug. 27.1920 407,452 418,738 425,699 426,454 826,190 852,153 1 ,6 46,109 120.816 2 , 619,078 147.078 2,766,156 541,754 953,597 —35-J2P-9 1 ,5 30,560 1,660,062 ll4.o4~s 186,139 373,272 • 111-1.4.5.5. 670,866 1 ,154,684 .-.-146,275 1,971,825 2,600,295 - 14.1 ,173 2 ,745,468 2 ,127,827 559,689 952,428 Ui.qio 1,554,027 1,314,830 1 ,352,297 _J21aa 6S 2,989,092 34,099 • 201,875 2 . SOP - 156.002 34,02s 26,879 203,375 7.876 259,375 14.726 •1 ,769,334 1 , 799,306 27,256 3 ,289,672 26,952 14,869 „9,5S3 4b3,592 ____11*253 9,471 5 31 ,S71 ... 17.^02 5,053,174 5 ,130,370 11,956 728,774 — A ,.673 6,178,771 103,030 213,824 47,824 102,896 213,824 47,006 97,055 164,745 31,479 1,616,964 25.188 19,014 1,621,570 . _ 30,665 43,510 1,818,502 47. ISO 1 , 673,631 2 ,485,914 . 1 ,671,249 2 , 503,642 1 , 905,192 3 ,203,637 112,811 397,011 19,129 114,502 458,120 .....19,i n 200,793 542,564 64.785 5 ,053,174 5 ,130,370 6 ,17S, 771 , 66.5$ 65.S/0 Zl.lfo 86.3$ *43.2 $ *47. 7i ^Calculated on basis of net deposits and F. R. notes in circu lation . Released fo r publication Friday morning, August 26 , 1921; not e a r lie r . EESOURCES AHD LIABILITIES OF THE FEDERAL RESERVE BAIIKS AT CLOSE OF BUSINESS AUGUST 24, 1921. (in R E F ed eral G o ld a n d G o ld R eserve g o ld se ttle m e n t T o ta l G o ld g o ld v / ith fu n d h e ld F. R. G o ld r e d e m p tio n T o ta l Legal B ills banks b ills bonds U* S. C e rtific a te s 8 9 .7 7 7 - 1 8 ,7 3 8 3.2 > 2 1 0 _____c l . T l g U6 .1X9 6 5 .7 9 9 1 8 .1 0 0 4 .0 6 9 kO,kO o 43,134 71,935 20,843 8,913 111,472 e tc. 397,690 4 7 2 ,2 9 1 G o vt, o b lig a tio n s m arket of o th er TOTAL (P ittm a n 32,486 52,372 JL331. 1 8 3 ,4 4 5 2 7 ,2 5 1 4 7 ,2 8 6 3 0 7 ,3 2 4 5 6 ,8 2 2 — 2 0 , .0 0 0 ------ 6 , 0 4 0 6 ,5 5 4 14 .5 0 7 5 .7 9 4 2 5 -0 6 l 4 .0 2 2 889,981 200,526 261,934 62,601 C.1 “7 "7 CT -7 -711n* r~ -» ^ ^ * ' , 7 ./.-r -- 1 951,756 203,874 267,851 66,919 61,593 443,257 _ ___ n otes ite m s b ills F. R. 22,570 8,667 la n s .C y , 155,554 72,073 205,097 29,508 3., 245 13,279 42,921 26,705 30,413 72,152 U323 2.74l 8 .6 7 8 17,305 44,968 11,951 36,229 2 *825- -3,455 38,554 84,652 I S ,354 95,274 35,612 72,084 65,036 146,306 27,174 ^3,592 ..139 3,313 Act Fran . T o ta l 20,858 425,699 -3 5 ,9 5 2 4 2 6 .4 5 4 56,210 2 5 2 ,1 5 3 9,359 159,144 1 , 6 4 6 , 1 0 9 4 .0 5 9 .2*281 120.816 25,369 223,235 2 619 078 * QjJ 39,^11 7 .^ 4,169 63,708 J) \ 147.078 89,111 31,950 226,772 2 , 766,156 17,470 4 6 ,660 1.018 7,294 47,077 ......70 1,005 1,449 844 1,233 10,098 4,490 1,153 219 8,868 ) 17,436 52,276 25,280 19,799 5,260 10,564 33,612 11,568 5,480 8,320 04 427,811 137,705 151,593 111,399 122,365 262,024 San * 69,479 461,986 1,054 Dallas 2,194 8,951 -Jg-q.77.4 ..3,000 37,904 29,324 541,754 953,597 15,, 209 1,230 55,041 13 1,11 8 1,530,560 3,979 204 34,099 2,400 9,880 201,875 2 2.800 61,420 141.204 1.769.774 »• * S-S 612 1,975 27,256 23,83s 73,640 22,336 4,429 627 65 8 3,155 609 1,968 9l6 ISb 494 36,915 9,583 7J s 60,999 523 26,341 229 16,417 12, 93S 39,119 21,147 27,324 463,592 288 829 1.958 5,515 529 2,541 2,351 844 772 l , 6s4 700 37,341 44,283 1,239 4l,o 4s 263 99,720 44l 2 .828 . 395 944 25,618 J-.J72 a g a in st . 14.9. 449 2J 07..9 ... .5. ^ 65. - .17,253 417,740 l.VsSJi^ 327,4s6 465,216 218,135 210,543 793,364 207,952 127,404 215,086 118,757 402,177 5,053,174 RESOURCES o th er 21,726 M in n . 557 113,999 4,020 resources In c lu d e s 2,988 in d e b te d n e s s * a ssets 5# R e d e m p tio n fu n d U n c o lle c te d d o lla rs ) ?5,i4s c e rtific a te s R# Bank S t.L o u is 14 6 ,3 5 2 ---- **• and n o tes e a rn in g of (a) B ank p re m ise s (a) 2 1,7 3 5 o th er T o ta l A ll C h ic a g o 4 ,8 4 4 on hand S. F '. A tla n ta 2 ,7 4 3 2 4 4 ,2 0 6 s ilv e r, open U. Q n e-year R ich m . 6 ,5 3 6 261,167 U .S . in C le v e l. 2 ,0 1 5 -21.5,48 o th er bought F h ila . 3^5 ,9 7 2 fu n d reserves by New Y o r k 2 ,1 9 6 182,2p2 th ou san d s S O U R C E S B oston A gen ts d isc o u n te d : T o ta l A ll F .R .B o a r d reserves Secured A ll of - by ten d er n o te s, T o ta l B ills g o ld Bank c e rtific a te s !223 b. d isco u n te d B anks, v iz : 528 fo r - U.079 _ 67>563 Released for ..publication Friday rtorning, Aug. 2o, 19 21; not earlier, RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS AT CLOSE OF BUSINESS AUG, 24, 1921 . S t. 2223c. (In thousands of dollars) L I A B I L I T I E S Eederal Reserve Bank Boston New York Phila, Clevel« Dallas San Fran* Total Capital paid in 27.067 8,676 11,151 7,935 3,550 4,318 4,123 l4 ,316 5,389 103,030 4,555 4,537 7,413 Surplus 16,342 8,708 30,536 59,318 17,564 22,263 11,026 9,114 9,330 213,824 7,303 7.113 15, 20-7 Reserved for Govt, franchise tax 18,880 2,423 2 ,111 1,689 3,147 8,998 3,087 2,129 2,490 47,824 1,173 1,697 Depo si t s: Government 7,944 1,881 3,649 1,088 l , 6o4 1,188 1,914 1,377 1,981 3,783 2,319 2,751 31,479 Member bank - reserve account 621,420 95,965 138,255 50,795 41,271 237,605 59,603 40,664 69,624 40,318 107,503 ,616,964 856 All other 2.706 972 764 . 807 464 ± 11.949 __430_. 4l 5 667 l t l ’ 25.188 554 110,21+0 641,313 98,025 iUo,439 54 , 871+ 44,005 244,094 62,281 42,406 71,895 42,763 121,296 1,673,631 Total deposits F. R , notes in actual circulation 241,022 634,018 214,3 3 4 '236,969 107,915 123,250 430,920 9 7,771 55,470 74,637 39,059 224,549 2,485,914 F. R . Bank notes in circulation net liability 6,191 28,571 7,019 12,417 4,280 8,213 13,142 5,915 4,255 13,921 3,631 5,256 112,811 Deferred availability items 32,388 76,085 37,834 38,583 31,402 12,196 48,249 2 6 ,1 a 11,515 37,940 20,520 24,178 397,011 All other liabilities 1,1994,062 q47 1,283 1.120 901_________3.109 1.022 1,788 19.129 1,208___ 1 ,137.... 1,353 TOTAL LIABILITIES 417,740 1,489,314 387,486 465,216 218,135 210,543 793,364 207,952 127,4o4 215,086 118,757 ^02,177 5,053,174 Ratio of total reserves to deposit and F.R. note liabilities combined, per cent 74.4 74.6 65.3 71.0 4l,l 40.1 68.4 59.9 40.3 60.8 39.0 65,6 66.5 Contingent liability as endorser on . discounted paper rediscounted with other F. R. Banks 19^950 Contingent liability on bills purchased for foreign correspondents 2,851 F. R . notes outstanding F. R. notes held by banks F. R. notes in actual circulation 256,528 J^o6_ 241,022 7,971 17,922 21,726 12,827 3,124 3,202 1,914 l , 4o6 4,647 1,835 1,054 1,875 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 774,710 241,019 259,842 116,996 136,173 480,279 119.027 58,570 82,946 l4p ,692 26.685 22,873 9.081 6.923 4q .359 21,256___3.100 8 ,309 634,018 214,334 236,969 107,915 129,250 430,920 97,771 55,470 74,637 1,015 854/60Q 18,351 9,000 149,549 7 3 75 17,333 291,860 5 >g92 30,690 162,983 3,588 14,701 1,796 37,546 42,946 285,587 2,854,623 3,887 . 6 l ,038 -I68.J 09 39,059 224,549 2,485,914 DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES Within 1£ days l 6 to 30 days 31 to 60 days 6l to 90 days Over 90 days Bills discounted Bills bought in open market U. S* Certificates of indebtedness 67,569 - 36,353 3 132,951 Total 1 ,495,351 35,209 204,675 * f~ 0 Released fo r p u blication Friday morning, August 26, 1921; not e a r lie r. FEDERAL RESERVE A GENTS1 ACCOUNTS AT CLOSE OE BUSINESS AUG. 24, 1 Q2 1 . S t . 2223d. (in thousands of dollars) Eederal Reserve Agent at Boston New York Fnila. Minn, Kans*Cy. Dallas San Eran. Total R E S O U R C E S Federal Reserve notes on hand 98,610 Eederal Reserve notes outstanding 256,52s Collateral security for Eederal Reserve notes outstanding: Gold and gold certificates 5,600 Gold redemption fund 16,652 Gold settlement funa-E*R*Board 160,000 Eligible paper Affiomt required 74,276 Excess amount held 21,579 TOTAL 309,600 20,620 42,900 24,089 78,953 774,710 241,019 259,842 116,996 136,173 316,924 23,775 19,367 12,963 14,670 136,000 133,389 145,000 3,251 24,000 302,419 to, 981 89,7to 13.517 9^,667 4 . sUq 3,400 3,686 40,200 167,940 24,540 480,279 119,027 13,115 58,570 4 , S40 82,946 24,632' 29,660 42, 946..285,587 339,499 6,110 3,381 ^7,331 13,052 1,102 .4,200 1,869 34,360 3,131 3 ,99^ 1 2 ,S02 2,234 146,342 371,992 109,417 . 15,680 291,644 172,955 62,205 40,216 46,717 33,587 126,443 8.6U0 27,244 18.409 21.464 4.475 282.033' . >±8,657.. 633,245 1,905,001 507,507 616,997 271,59s 364,104 1,177,155 271,234 157,499 189,141 131,93s 605,309 6,330,77s 76,397 54.413 S3,887 12. SOS L I A B I L I T I E S Net amount of Eederal Reserve notes received from Comp troller of the Currency 355,133 1,034,310 261,639 302,742 l4l,0S5 215,126 643,219 143,567 71,685 87,736 67,57s 315,247 3,694,122 Collateral received from Eederal Reserve Bank: Gold Eligible paper 132,2^2 95,855 307,324 221,612 18,354 67,460 36,229 65,126 9,359 159,1^ 1 , 646,109 55,051 130,91S 1,490,547 TOTAL 472,291 146,352 183,445 27,251 47,236 5^8,400 99,516 130,810 103,262 101,692 56,822 70,845 633,245 1,905,001 507,507 616,997 271,59s 364,104 1 ,177,155 271,234 157,^99 189, i 4i 131,9ss 605,309 6,330,77s
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