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STATEMENT FOR THE PRESS Released f o r p u b l i c a t i o n Sunday morning, August 291 not e a r l i e r . St.1388 Federal Reserve Board, August 28,1920. CONDITION OF FEDERAL RESERVE BANKS, Increases of 18.6 m i l l i o n s i n net d e p o s i t s and of 28-9 m i l l i o n s i n Federal Reserve note c i r c u l a t i o n , as a g a i n s t a gain of about 6 m i l l i o n s in cash r e s e r v e s , are indicated in the Federal Reserve Board's weekly bank statement issued as at c l o s e of business on August 27, 1920- In consequence of these changes the Banks' reserve ratio, .shows a d e c l i n e from 43*5 to 4} .2 per c e n t . Holdings of a l l c l a s s e s of paper were larger than the week before, b i l l s secured by United States war o b l i g a t i o n s showing an increase of 13-2 m i l l i o n s , other discounts - an increase of 3^-5 m i l l i o n s , and acceptances bought i n open market - an increase of 1 , 4 m i l l i o n s . Treasury c e r t i f i c a t e s on hand declined by 3 «5 m i l l i o n s , while t o t a l earning a s s e t s show an increase for the week of 45 «6 m i l l i o n s . Of the t o t a l holdings of 1, 3 ^ • 8 m i l l i o n s of paper secured by United States war o b l i g a t i o n s 660 .6 m i l l i o n s , or 5 0 . 2 per cent, w&re secured by Liberty bonds, 307*5 m i l l i o n s , or 23 <4 per cent, by Victory n o t e s and 3^6 .7 m i l l i o n s , or 26.4 per cent, by Treasury c e r t i f i c a t e s , as against $0, 23-2 and 26.8 per cent of a corresponding t o t a l of 1 , 3 0 1 . 8 m i l l i o n s reported the week before. Discounted paper held by the Boston, New York and Cleveland Banks includes 166,5 m i l l i o n s of paper discounted for s i x Reserve banks in the South and Middle West, compared with 151.2 m i l l i o n s shown at the end of the previous week, while acceptance holdings of the Philadelphia, Cleveland and San Francisco Banks are i n c l u s i v e of 4 8 . 9 m i l l i o n s of bank acceptances bought from the New York and Chicago Banks, compared with 35-4 m i l l i o n s shown the week before. As against a reduction of 11.4 m i l l i o n s i n Government d e p o s i t s , members' reserve d e p o s i t s show an increase of 24.8 m i l l i o n s . A l l other deposits, including mainly f o r e i g n Government c r e d i t s and non-members1 clearing accounts, show a decline of 1>6 m i l l i o n s , while the "float" carried by the Reserve Banks and treated as a deduction from gross dep o s i t s i s shown 6 . 8 m i l l i o n s l e s s than the week before. The r e s u l t of these changes i s seen in an increase of 18.6 m i l l i o n s i n the c a l c u l a t e d net deposits^ Of the t o t a l increase of 28.9 m i l l i o n s i n Federal Reserve note c i r c u l a t i o n , over 60 per cent represents the combined increase reported by the Philadelphia and Cleveland Banks. In addition, there i s shown an aggregate increase of 2 . 2 m i l l i o n s in Federal Reserve Bank note c i r c u lation. Gold reserves show a gain for the week of 3>5 m i l l i o n s , while other cash reserves increased by 0 - 5 m i l l i o n . The c a p i t a l account of the Reserve Banks shews a further increase of $296,000, the Chicago and Kansas City Banks reporting the l a r g e s t gains under t h i s head. R e l e a s e d f o r p u b l i c a t i o n Sunday morning, August 29, - 1 ? S E . Bosird i v e r ' e t c . ( S e c u r e d by G o v e r n m e n t w a r o b l i g a t i o n s Bills discounted , , T o i r s ~ ' s i , 1,314,830,000 1,352,297,000 — EEiHF--"TOTAL RESOURCES ^ " B I t I I - w s ' I E m m s 48B! "81 1,301,609,000 1,317,820,000 — a m % p : : i i \ i i b i 5 t i e r K S S 44,828,000 2.U47,756,000 3.203,637,000 200,793,000 64,785,000 6,178,771,000 43-2,6 " 1,609.296,000 205,838,000 6,181,220,000 x 43,180,000 m 43S 4 a "SE "11 S O t h e r 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 / L n o l e s in actual circulation 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 111 other l i a b i l i t i e s TOTAL L I A B I L I T I E S . ^ 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 a n d F . R- n o t e l i a b i l i t i e s combined a 6,178,771,000 EE^ES^e™ e o August 29. 1919 ' illFL St.l388a. STATEMENT OF COMBINED RESOURCES Ar.D L I A B I L I T I E S OF THE FEDERAL RESERVE 3A.mXS • Aug- 2 7 , 1 9 2 0 Aug- 2 0 , 1 9 2 0 R E S O U R C E S 8SS 1920; n o t e a r l i e r . 47.7% 2,484,556,000 3.174,725,000 198,563,000 61,872,000 6,181,220,000 4 3 * 5/° 5> 4 3 5 , 8 3 7 , 0 0 0 S S 98,4%9,000 2,446,310,000 2,580,629,000 219,815,000 23,070,000 5,435-837,000 - )U * 60.7^ * 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 u g u s t 2 9 , 1 9 2 0 , n o t e a r l i e r ; RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS AUGUST 2 7 , 1 3 2 0 . R E S O U R C E S ( i n t h o u s a n d s of d o l l a r s ) Federal Reserve Bank of Gold and gold c e r t i f i c a t e s " Gold settlement fund - F.R.Board Gold with f o r e i g n agencies * Tot3.1 gold h e l d by "banks - Gold with F.R. Agents r Gold redemption fund Total gold r e s e r v e s Legal tender n o t e s , s i l v e r , e t c . Total reserves 3111s discounted: (a) Secured by Govt, war o b l i g a t i o n s A l l other B i l l s bought i n open market (b) 'f Total b i l l s on hand r* U. s . Government bonds ! U. S. Victory notes ' U. S. C e r t i f i c a t e s of indebtedness r T o t i l earning a s s e t s Bank premises U n c o l l e c t e d items and other deductions from gross d e p o s i t s % Redemption fund a g a i n s t F„R, Bank notes A l l other resources TOTAL RESOURCES (a) Includes b i l l s discounted f o r other F. R» Banks, v i z : - (b) Includes bankers' acceptances ^ bought from other F.R.Banks: "Without t h e i r endorsement S t . 1388b. Boston New York P h i l a . C l e v e l . 12,179 57,015 1,285 10,587 37,291 24,116 34,963 56,801 8,136 40,905 8,916 9,139 57,656 " 162,036 U5,i64 76,527 128,392 275,950 116,899 150,744 24,604 35,928 12,768 777 210,602 473,914 174,831 228,048 6,226 124,810 253 2,028 216,828 598,724 175.084 230,076 Richm. 2,426 26,130 5,461 34,017 42,768 8,714 85,499 63 85,562 Atlanta Chicago 5,133 24,351 5,540 95,158 4,013 13,263 17,686 132,772 48,109 166,067 9 , 3 9 4 30,412 75V^S9 329,251 1,482 8,160 76,671 337,411 116,780 553,992 137,356 80,006 36,715 64,319 68,766 3 6 6 , 0 5 1 - 3 7 , 0 6 0 1 1 6 , 7 0 8 64,047 54,573 20,116 100,523 19>904 66,892 7,146 2,188 205,662 1,020,566 1 9 4 , 3 2 0 1 % , 6 0 6 107,908 121,080 557 1,462 i>386 834 1,233 ll4 5 50 1 0 3 21,507 69,401 33,309 23,322 12,260 15,665 227,731 1,091,479 229)015 287,772 121,401 136,862 1,700 3,942 oyS 1,156 1,135 606 5l»331 158,600 66,911 - 11,812 /4,192 55,242 99,620 - 21,440 - 26,894 162,628 35,769 276,136 76,461 4l,099 2,315 479,863 114,545 4,490 1,153 39,657 17,509 524,010 133,207 2,138 866 ICans.Cy, Dallas San Fran. Total 557 6,195 12,454 186,139 23,552 5,04-3 46,502 373,275 5,350 2,898 5,127 111,455 29,-459 14,136 64,083 670,866 38,078 25,997 85,086 1 , 1 5 4 , 6 8 4 4,048 4,924 9,270 146,275 71,585 45,057 158,439 1 , 9 7 1 , 8 2 5 lj_645 2,309 SI7 156,002 73,230 47,366 15s,255-27127',827 6,727 47,178 20,564 52,796 1 , 3 1 4 , 8 3 0 71,482 62,526 53,084 105,403 1,352,297 935 3,984 555 56,308 321,965 79,144 113,688 74,203 214,507 2 , 9 8 9 , 0 9 2 116 8,867 3,966 2,632 26,810 1 go 8 , 4 8 1 12,825 8 , 3 0 0 11,465 273,701 87,741 135,381 86,469 228,6o4 3 , 2 8 9 , 6 7 2 586 791 1,079 232 14,869 4 l , 5 6 0 20,003 59,080 43,173 38,900 729,889 • 1,072 2,194 1,300 1,139 451 559 1,968 524 582 916 586 665 11,956 r 273 808 429 172 870 I83 589 ^ 383 %6 207 170 398 4,558 498,935 1,855,747 472,572 594,507 264,661 241,775 960,924 256,919 156,228 269,605 178,843 428,055 6 , 1 7 8 , 7 7 1 - 66,106 S t . Louis Minn. 3,747 7,210 12,335 5,84l 5,238 3,009 21,320 i 6 , o 6 o 45,537 31,057 5,375 6l 72,232 47,178 8,147 62 80,379 47,24o 9*4,808 - - - - - - 15,672 166,531 48,924 S t . 13 88cR e l e a s e d f o r p u b l i c a t i o n S u n d a y m o r n i n g , A u g u s t 2 9 , 1920; n o t e a r l i e r . RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS AUGUST 27, 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 E S Total F e d e r a l R e s e r v e Bank Mew York P h i l a . C l e v e l . R i c h n - A t l a n t a C h i c a g o S t . L o u i s M i n n . K a n s - C y - D a l l a s San F r a A . Boston 97,055 Capital paid-in 25,336 8,399 10,249 5 , 1 2 9 3 , 8 8 8 1 3 , 6 8 5 4 , 2 9 7 3 , 3 2 9 4 , 4 0 8 3 , 9 3 6 6 , 8 1 9 7,580 1 64,745 4 , 1 5 2 11,662 Surplus 5 , 8 8 4 5 , 1 7 2 2 , 3 9 5 12,351 51,308 13,069 13,712 8,067 7,050 2 3 , 9 1 7 43,510 1,665 3,318 2,767 '"Government d e p o s i t s 2,967 1,615 1,648 20,139 2,274 1,194 1,549 1,272 2,902 Due t o m e m b e r s - r e s e r v e a c c o u n t 118,776 717,825 106,384 1 4 7 , 8 3 1 5 3 , 9 2 4 4 9 , 3 1 9 262,480 6 6 , 0 4 2 4 2 , 4 2 0 7 2 , 9 5 2 5 3 , 5 1 2 1 1 5 , 9 1 7 1 , 8 1 8 , 5 0 2 542,564 Deferred a v a i l a b i l i t y items 9 8 , 8 3 9 4 8 , 5 4 9 6 0 , 7 3 4 4 2 , 9 2 1 2 2 , 7 5 5 6 5 , 7 8 9 3 6 , 0 7 5 17,306 5 2 , 0 8 7 2 6 , 5 4 2 2 9 , 2 7 4 41,093 father deposits, including foreign 2.158 20.692 1.016 2.305 1.462 1.032 4,029 1.566 917 1.487 895 3.621 43,18p_ government c r e d i t s 16%875 857,555 160,223 212,064 104,916 7 4 , 3 7 8 3 3 5 , 2 0 0 106,650 6 2 , 2 5 8 135,293 8 2 , 6 l 4 152,730 2,447,75.6 . Total gross deposits 296,131 854,925 268,028 3 3 4 , 8 8 4 133,969 142.426 543,929 128,316 7 5 , 9 0 1 103,780 7 9 , 4 1 5 241,933 3,203,637 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 200,793 16,065 34,790 20,005 20,006 10,876 12,109 3 5 , 3 7 8 9,650 7,844 15,510 7,065 11,495 net l i a b i l i t y 64,785 31.833 2.848 3.592 1.704 1,924 8,815 .2.122 1.718 2.219 l,66l 3,4l6 2.933 All other l i a b i l i t i e s TOTAL L I A B I L I T I E S 498,935 1 , 8 5 5 , 7 4 7 472,572 594,507 264,66 1 241,775 9 6 0 , 9 2 4 256,919 156,228 2 6 9 , 6 0 5 178,843 428,055 6 , 1 7 8 , 7 7 1 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 . note l i a b i l i t i e s combined, p e r cent 5 3 - 1 38,5 48.3 48-7 46.6 lto.4 43 ,o 41.6 4o.o 40-7 39-9 32,434 20,347 22,247 3 4 , 5540 40 34, 752 432 768 4i6 44.8 43 .2 M E M O R A N D A C o n t i n g e n t l i a b i l i t y a s e n d o r s e r on Discounted paper rediscounted with ' o t h e r F - R» B a n k s 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 c h a s e d for foreign correspondents F , 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 b y b a n k 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 Bills discounted B i l l s bought i n open m a r k e t U- S . C e r t i f i c a t e s o f i n d e b t e d n e s s 1,168 6,077 1,280 1,312 25,000 31,963 784 576 1,904. 305,679 9,548 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 972,767 277,707 349,266 137,773 146,693 593,521 145,481 77,013 109,295 117,842 9,679 14,92 2 3 , 204 4,267 49,592 17,165 1,112 5,515 296,131 854,925 268,028 334,884 133,969 142,426 543,929 128,316 7 5 , 9 0 1 103,720 DISTRIBUTION OF BILLS AND U- S - CERTIFICATES OF INDEBTEDNESS BY MATURITIES o v e r .90 d a y s T 7 i t h i n 15 d a y s 6 l t o 90 d a y s 3 1 t o 60 d a y s 16 t o 3 0 d a y s 4 4 , 223 491,886 3 0 1 , 240 1,521,792 247, 9 8 6 26,092 110,768 105,240 79,265 11.002 185,502 15,441 34,431 27,325 166,531 - 736 16,205 82,826 273, HO 3,471,731 3 , 4 l i 31,177 268,094 79,415 241,933 3,203,637 Total 2,667,127 321,965 273,701 1 R e l e a s e d f o r p u b l i c a t i o n Sunday morning, August 29, 1920; n o t e a r l i e r ^ FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS AUGUST 2 7 , 1 9 2 0 . St.l38Sd. ( I n t h o u s a n d s of d o l l a r s ) #* F e d e r a l Reserve Agent a t R E S O U R C E S ' F e d e r a l R e s e r v e n o t e s on h a n d Federal Reserve notes outstanding ' C o l l a t e r a l security f o r Federal * Reserve notes outstanding: Gold and g o l d c e r t i f i c a t e s Gold r e d e m p t i o n f u n d Gold s e t t l e m e n t fund-F-B.Board E l i g i b l e paper Amount r e q u i r e d E x c e s s amount h e l d TOTAL Boston New York Phi l a . Clsvel. lUl.OQO p v 9 4 0 2b,' 972,7b7 2 7 7 , 7 0 7 349,1 gco Richm. A t l a n t a Chicago S t . L o u i s L i n n . Kans-Cy- D a l l a s San F r a n . 27,3% 7Q,515 137,773 14b,b93 71,720 16,6*40 593,521 145,481 Total 2,975 6,820 77,013 109,295 13,010 6,080 '473,333 82,826 273,110 3,471,731 260,226 21,492 io6,oco 196,608 32,025 16,342 15,510 18,719 •3,000 101,389 100,000 3,268 39,500 2,500 3,609 42,000 8,922 157,145 3,810 2,89b 38,831 13,052 1,805 16,200 2,718 35,3b0 11,331 5,932 8,734 177,257 28,375 696,817 160,802 199,122 291.854 4,511 62,465 95,005 11,072 98,584 22,484 427,454 52,099 99,944 14,575 45,956 18,653 71,217 42,386 5o,829 188,024 2,317,04? 17,374 14,061 579,909 693,393 2,378,388 590,865 788,762 313,966 386,385 1,310,861 322,177 181,654 267,856 196,036 13,318 71,768 114,531 779,927 566,361 7,996,704 L I A B I L I T I E S •Federal Reserve notes received from Comptroller - gross Less amounts r e t u r n e d f o r destruetion N e t a m o u n t of F e d e r a l R e s e r v e n o t e s r e c e i v e d f r o m Compt r o l l e r of t h e C u r r e n c y Collateral received from F e d e r a l R e s e r v e Bank: Gold , E l i g i b l e paper TOTAL http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis i * 638,260 2,257,760 629,240 646,520 355,620 369,680 1,108,400 352,800 169,580 244,420 175,900 487,400 7,435,580 278,921 1,143,993 320,593 270,089 190,499 152,472 443,159 190,679 83,592 128,245 80,064 208,210 3,490,516 359,339 1,113,767 308,647 376,431 165,121 217,208 665,241 162,121 85,988 116,175 95,236 279,190 3,945,064 128.392 205,662 166,067 45,537 479,553 11»,519 31,057 38,078 64,609 113,603 25,997 85,086 1,154,684 74,203 202,085 2,896,956 693.393 2 , 3 7 8 , 3 8 8 590,865 788,762 313,966 386,355 1,310,861 322,177 181,654 267,856 196,036 566,361 7,996,704 2 7 5 . 9 5 0 1 1 6 , 8 9 9 1 5 0 , 7 4 4 42,-768 4 5 , 1 0 9 988.671 165,319 261,587 106.077 121,068
@FedFRASER