The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
STATEMENT FOB THE PRESS Released, for publication Friday morning, Feb. 3, not earlier. S t . 25 SU. Federal Reserve Board, February 2 , 1922. CONDITION OF FEDERAL RESERVE BAiKS. Aggregate increases of $50*300,000 in total earning a ssets, due, largely to temporary investments by the New York bank in acceptances, Treasury notes and Treasury certificates, and commensurate increases in deposits, accompanied by a reduction of $ 5 ,9 0 0 ,0 0 0 in Federal reserve note circulation, are indicated by the Federal Reserve Board's consolida ted weekly bank statement issued as at close of business on February 1, 1922. Gold reserves show a further gain for the week of $ 7 , 300 , 000, while other cash reserves show a decline of $ U ,600,000. The reserve ratio, in consequence of the changes noted, shows a decline for the week from 77*2 to 7b . 2 per cent. Federal reserve bank holdings of bills secured by United Stat<g|^G§.v_ ernment obligations were $ 3 , 200,000 larger than the week before,/discounted b ills on hand show a decline of $ 1 5 , 600 , 000, while acceptances purchased in open market increased by $ 7 , 300 , 000, a larger increase under this head being reported by the New York reserve bank. Holdings of United States bonds and notes show an increase of $2U ,900,000. The New York bank reports an increase under this head of $ 2 3 , 900 , 000, while substantial additions to the holdings of the reserve banks of Cleveland, Chicago and San Francisco, are largely offset by liquidation under this head reported by the Atlanta bank. No change is shown in the amount of Pittman certificates held as cover for Federal reserve bank notes, while holdings of other Treasury certificates show an increase of $ 30 ,U00 , 000, largely in consequence of purchases by the New York and Cleveland reserve banks. Total earning assets, in consequence of the changes indicated, were $ 50 , 300,000 larger tban the week before, a larger increase under this head being shown for the New York reserve bank. Of the total holdings of $3 6 1 ,2 0 0 ,0 0 0 of b ills secured by United States Government obligations,$2 7 3 ,0 0 0 ,0 0 0 , or 75-6 per cent, were secured by Liberty and other U. S. bonds, $ 3 7 , S 00 ,000, or 10. 5 per cent, - by Vic tory notes, $ 1 3 ,1 0 0 ,0 0 0 , or 3*6 per cent, - by Treasury notes and $ 3 7 ,3 0 0 ,0 0 0 , or IO .3 per cent, - by Treasury certificates, compared with $ 282 , 600 , 000, $ 3 7 ,3 0 0 ,0 0 0 , $ 1 1 ,UOO ,000 and $ 2 b , 100,000 reported the week before. All classes of deposits show larger totals than the week before: Government deposits - by $1 8 ,g 0 0 ,0 0 0 , reserve deposits - by $ 3 7 , 100 , 000, and other deposits, composed largely of non-members* clearing accounts end cashier*s checks - by $ 5 , 700 , 000. A^further reduction for the week of $5 ,9 0 0 ,0 0 0 in Federal reserve note circulation is shown, compared with a reduction of about $ 1 5 , 000,000 during the corresponding week in 1321. The banks also report a decrease of $ 1 ,0 0 0 ,0 0 0 in their aggregate net liabilities on Federal reserve bank notes^in circulation, compared with a decline of over $ 2 , 000,000 for the week in the amount of these notes outstanding, reported by the Treasure Department. * * Released for publication Friday morning, February 3 . 1922; not earlier. St»25$4a HESOURCES 'AND LIAEILIriES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED. (in thousands of dollars) R E S O U R C E S 3 8 3 .5*U 483,222 Feb. 4. 3921 199,750 482,192 89^,237 86b,76'3 ..3x200 685,242 Gold with Federal Reserve Agents Gold redemption fund . , . , . 1 ,9 2 8,41 9 8 8 f872 1,939,792 97 .693 1 ,274,747 Total gold reserves . . . . 2 , 9 11.528 2 ,9 0 4 ,2 4 8 149.99.0 154.607 2 ,111,947 214.180 3 ,061,518 3 .058,855 2 ,326,127 90,0 21 357,921 492,252 82,70S 1,017,152 1 ,415,921 167. $18 Total b ills on hand ........................... 927.845 932,882 2 ,600,891 U. S. bonds and n o t e s ................... ... , U. S. Certificates of indebtedness; One-year certificates (Pittman A c t ). All other ....................... . . . . . . Municipal warrants ....................... , . . 90,709 65,7 61 25,868 113,000 101,702 _______ 206 113,000 259,375 595 1 ,233,462 1,183,127 2 ,886,729 36,407 36,199 18,244 Feb. 1. 1922 385,044 Gold and gold certificates . . Gold settlement fund - F.R.Board Gold with foreign agencies , . Total gold held by hanks 505,193 . Legal tender notes, silver, etc Total reserves . . . . . B ills discounted: Sec. by U .S . Government obligations All other Bills bought in open market ............... Total earning assets . . . . . . Bank premises 5fo Redemption fund against F. R. Bank notes . . . . . . . . . . Uncollected items ....................... . . . All other resources . . * ♦* » * TOTAL R E S O U R C E S ............... .. . . 36 i ,j£ T ^ 476,651 .... Jan. 25. 1922 151,958 71,2 78 206 12,868 . 14,460 7 >37° , „ 481,754^ 12,719 595,291 7.794 4 ,8 5 1,92 2 4,780,554- ^ 0 5 ,847,053 7.255 498,220 L I A B I L I T I E S Capital paid in S u r p l u s .................................. ... . . Reserved for G o v H . franchise tax Deposits: Government . . . . . . . . . . . Member bank - reserve account . All other . . . . . . . . . . . Total deposits ....................... F.R, notes in actual circulation F.R, Bank notes in circulation net liability ........................... Deferred availability items ♦ * * All other liabilities . . TOTAL LIABILITIES * * » Ratio of total reserves to deposit and F.R, note liabilities combined . . 103,150 2 1 5 .39s 1,250 103,067 215,393 1,332 100,228 202,036 1,689,422 .... 36.324 95,915 , 0 1 ,6 52 ,304 " 30.578 1 , 742,762 1,8 40,470 1 , 77 s 1,817,378 2 ,178,053 2,18 4,00 1 3,075,750 83,888 84,876 157,210 j- io ar 15.290 114 ,74 4 4 ,851,922 7 6 .2; 4 ,7 8 0 ,5 ^ 48,373 26,243 .... 3 0 , 8 1 8 10 5,847,053 7 7 .2 * ^Calculated on basis of net deposits and F* R, notes in circulation, * 49 . 3$ Released for publication Friday morning. February 3 , 1922; not earlier. ISSOUECES AITD LIABILIOIES OF THE FEDERAL RESERVE J3AHCS AT CLOSE OF 3USII1ESS FEB. 1, I 922. Federal Reserve Bank of Gold and gold certificates Gold settlement fund - F .R . Board Total gold held by hanks Gold with F. E. Agents Gold redemption fund Total gold reserves Legal tender notes, silver, etc. Total reserves' B ills discounted: Secured "by U .S.G o vt, obligations A ll other B ills "bought in open market Boston Hew York _ „ ■ R E S O U ^ C ^ S Phila, Cleve. "sich. 7 ,6 7 2 22 9,06 3 4 2 ,4 10 ____ 78,412 48,937 50,082 5 1 , 021* 3 6 7 ,U80 2,037 1 3 , 26 b 2,823 44.877 27.157 (In thousands of dollars) Atlanta Chicago St. Louis Minn. Sans.Cy. Dallas San Fran 2 5,136 1 1 5 ,4 44 137,925 711,9b7 13S.S23 186,306 14,509 10,000 8,307 5 .bS 4 202,520 1 , 029 ,l;l*7 19 2 , 151* 250,133 31,877 6,6 n 52 ,3 14 3 12 ,0 11 4,027 25,239 72,967 1,71*3 21*, 021 32,159 2 , 11*1 —. -2,73b 1 6 3 ,5 3 4 -2 - r. 08k' 82,960 1*1*8,628 107,855 2 3 , 5b4 ...... 42,613 8 , 1*97 7 , 2bC 226 , 081; 1 , 138,06 0 208,019 258 ,d 30 75.7SU 15,850 9 , 86 5 13.720 b5U 6,91*3 27,292 1*61*,667 12 1,5 7 5 6l*,306 87,300 33 ,2 97 2 91,483 3 ,0 6 1 ,5 1 8 6,073 34,32 7 14 ,13 9 1*0,250 61 7 ,6 7 5 37,346 - . 15J 2 1 , 16r / 4 3 , 55^ 3 6 1,16 7 476 , b % T 527,845 113,000 101,702 4,3 3 2 79,141* U. S. bonds and notes 21*, 538 3 ,4 4 9 21*.711* 11,7 6 5 6 ,5 3 4 2,329 U. S. Certificates of indebtedness: One-year certificates (Pittman Act)I 8 , 1*50 A ll other 2 5 ,5 2 1 Municipal warrants 1,233 3 5 , 1*00 47,695 10,000 27 2 , 01*0 2,270 3 ,7 b0 2,561* 10,322 217,223 1 ,528,419 80,357 93 , 861* 15,579 oty 81,207 15,232 2 6 ,179 . 15,21*7 303 72 , 1*25 139,691 1*1,711* 1*0,1*60 1.71U 220 54 , 1*50 9,038 45,036 15,166 2 , 63 ?) 69,667 1 1 ,4 1 7 12 ,667 18,806 b,569 U,i*50 5,320 300 1,900 7 ,320 380 42 1 43,237 -.191 k ‘X>qJ A ucp 89,531 23,819 186,330 iD Qf) (V>7 90,709 ornT 15 263,521 1 1 5 , 81*7 102,588 5 ^ ,1 9 3 854,237 64,590 63 ,o52 155,772 TOTAL RESOURCES ic— co‘ VOhR y 1~^ J -UjU(C. 32,350 2 8b , 872 2 , 9 11,528 5 , 9U7 U,blO lliQ can 51,0 84 88,564 *o t»l X-L.XC.-) 1*5,1*62 Total h ills on hand A ll other resources 3 ? 5c 37,430 2 b ,810 8 ,4 2 4 Uncollected items 2 551 1,0 3 3 , IU 5 3 6 ,4 4 4 18,1*63 1*5,590 51,132 2 , 501* .. 2,219 Redemption fund against F. R. Bank notes 01.0 26,559 U O .S 3 8 3i,50i* 44,3 65 3 ,2 7 5 % -. 9 ,2 4 1 29,980 53,934 13,073 15,857 Bank premises 22,231 3 ,5 1 1 .>j j 1 ?o M i, 53,110 92,1*1)2 26,770 3b, 560 Total earning assets t. 25340. 50,297 U5,525 68,350 4 9 , 566 7 , 081* 61*3 823 4,740 2,090 334 36,407 1,664 523 220 916 136 394 7 ,2 5 5 2 1 , 191+ b3,3b7 26,980 4 , 85 s 6 ,967 600 4,140 2 ,568 1,0 55 1*22 1 , 6§1 700 539 188 502 4 4,6 62 115,237 1*2,610 1*6 , 01*1 3 9 ,1 74 422 2,1*69 60S 223 32,964 1 ,233 , 1*62 13 ,239 32,452 22,033 30,725 492,220 27 I* 51b 151 191*...... 97U 2 .0■*°, -- r 2q4 nit )ikn .qk6 ............ ...— r:. -- -— ■■ .si*/ ^ -«--r )— rW^ 3 6 5 , 01 s 1 , 527,965 3bS,3SU 4 1 2 ,lbl 207,529 •194,019 72 U , 128 200,212 125,092 191*,552 ill*, 1*71 1*13 ,391 4 , 251,522 Released for publication Friday morning Feb. 3, 1922 ; not earlier. ■RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS FEB. 1 , 1522 . St.2584c. y, (In thousands of dollars) L II A B I L I T I E S Federal Reserve Earik Boston- New York Phi la- Cleve. Rich, a+ Minn, Dallas San Fran. Total y Capital paid in 7,35o 26,958 2,7 4 8 11,134 5 ,458 4,201 14,430 4,606 4 ,1 3 1 7,370 3,552 4,577 1 0 3 ,3 # Surplus 16,483 60,197 17,9^5 22,509 11,0 30 9,114- 29,025 9 , 32 s 7,462 9,646 2 1 5 , 39 s 7 ,3 3 4 15,199 RSserved for Govt, .franchise tax 7 170 122 142 162 242 114 72 l4o 70 1,250 9 Deposits: Government 11,745 50,255 504 5,455 5,425 3,272 10,744 4,946 4,603 2 ,1 4 8 114,744 5,59*+ 9.453 Member bank - reserve account 116 ,250 662,370 103,999 134,800 53,348 42,317 239,541 63,708 41,000 69,015 42,929 120,145 1 ,689,422 A ll other 1,076 15,203 1,066 760 444 452 5,218 822 608 36,304 509 633 9.453 Totctl deposits 12 9,0 71 727,828 105,569 14 1,0 15 53 ,2 17 46,641 255,503 69,476 46,112 75,302 45,685 139,051 1,8 4 0,47 0 F . S . notes in actual circulation 166,679 614,031 181,448 192,826 9 6 ,9 4 4 l l 0,835 362 , 96l 86,089 52,639 62,676 31,2 4 7 219,678 2 ,1 7 2,05 3 ■#'» R. Bank notes in circulation — net lia b ilit y 7 ,9 ^ 4 Lo 20,518 6,8 8 3 5»76l 3,1 2 7 6,7 7 7 7,2 4 3 4,003 3,829 9,607 2,667 4,889 83,888 Deferred availability items 36,0 1 8 ' 75,3 74 47,231 3 8 , 06s 3 1,0 19 15,507 50,320 26,013 10,328 31,882 21,696 3 1,0 19 414,475 A ll other lia b ilities 830 2,889 438 706 572 702 3,923 565 1,024 792 1 ,5 9 1 1 ,1 7 6 1 5 ,1 9 ^ TOTAL LIABILITIES 365,018 1 , 527,965 368,384 4 12 ,16 1 207,529 194,019 724 , 128 200,212 125,092 194,552 114,471 418,391 4 ,851,922 Ratio of total reserves to deposit and F. R. note lia b ilitie s combined, per cent 76 .4 8 4 .8 7 2 ,5 7 7 .5 4 8 .5 5 5 .4 75-1 7S»2 6 5 .1 63.3 49.8 g i .3 76.2 Contingent lia b ility on b ills purchased for foreign correspondents 2,336 12,007 2,560 2,624 1,568 1 ,1 5 2 3,808 1,50 4 864 1,536 832 1,472 32,263 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F . R, notes outstanding F, R. notes held by banks F. R, notes in actual circulation 174,076 — 1 , 3 97 802,095 2 02,930 217,643 103,021 116,653 406,067 106,551 J,88,C 64 2 1 ,482__ 24,817 6,077 5,818 4 ^ 1 0 6 2 0.462 166,679 6 14,031 181,448 192,826 96,944 110,835 362,961 86,089 55,657 3,018 69,855 7 ,1 7 9 34,901 270,207 2 , 559,656 52,639 62,676 31,247 219,678 2 , 178,053 3 ,6 5 4 50.529 381.603 DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS BY MATURITIES Within 15 days B ills discounted B ills bought in open market U. S . Certificates of indebtedness Municipal warrants 49 2,04 1 51,708 26,527 15 16 to 30 d^ys 31 to 60 days 27 ,36l 119,719 14,677 34,773 13,089 2,009 140 6 l to 90 days ‘ Over 90 days Total 91,344 47 ,352 10,127 3,200 366 90,027 1 4 8 ,1 9 3 214,702 51 837,217 206 Released for publication Frioay corning, is o . 3 , 1 $22 ; not earlier. FEDERAL RES£3?i AGENTS * ACCOUNTS AT CLOSi 0? F T S I^ S S F'-P. 1, 1522. St.2584d. ( In thousands of iollctrs) Federal J&essrve Agent at Boston New York Phila. Cleve. Rich, Atlanta Chiefs 0 St.Louis Minn, Kcwis.Cy. Du-lLa-s San Fr<*ri. Total R E S O U R C E S Federal Reserve notes on hand Federal Reserve, notes outstanding Collateral security for Federal Beserve notes outstanding; Gold and gold certificates Gold redemption fund Gold fund - F. R. Board . Eligible paper Account r e t i r e d Excess amount held ? 0TAL 129,240 174,076 5,600 12,329 120,000 36,147 14,937 49,760 39,000 28,575 75,521 802,095 202,930 217,643 103,021 116,653 360,710 296,925 13 .3 75 34,042 13,434 12,9 31 381,000 125,389 160 ,0C0 90,128 64,107 48,869 15 ,18 2 31,337 47,807 3 ,5 8 2 28,295 71,1 44 10,654 2 ,400 4,914 45,000 64,335 7,745 155,280 25,460 406,067 106,551 - 2,275 55,657 13,052 15,367 296 ,644 5,960 4,307 62,700 94,056 45,635 3 3,5 24 8 ,1 2 4 13,440 69,255 - 1.769 1,755 9,200 30,360 31,636 7,520 37,696 16,676 21,2 40 48,300 555,461 34,901 270,207 2,555,656 6 ,70 1 - 344,013 2,637 15,055 122,166 1,4S4 202,168 1,462,240 24,079 20,751 52,524 16,507 631,237 260,411 492,329 2 , 0 13,765 470,802 522,093 245,271 316,636 1,0 1 3,04 9 246,686 127,709 169,826 111,793 605 , 2216 , 335 , IS 1* L I A B I L I T I E S Net amount of Federal Reserve notes received frcat Comptroller of the Currency Collateral received fror. Federal Reserve Bank: Gold Eligible paper TOTAL 303,316 1 ,1 6 2,80 5 252,690 256,643 131,596 192,234 561,347 132,011 64,532 83,295 5 6 ,1 4 1 3 1 8 ,5 0 7 3 .5 1 5 ,1 1 7 137,925 312,011 139,691 24,021 39,156 32,155 54,372 10,822 217,223 1,928,419 4 4 ,8 3 0 69,491 891,648 51,084 7 11,9 6 7 132,823 126,306 138,597 79,289 75,144 3 1,2 7 7 81,792 5 2 ,3 1^ 72,088 72,967 41,708 492,325 2 , 013,769 470,802 522,093 245,271 316,636 1 , 013,049 246,686 127,709 169,826 111,793 605,221 6 ,335,184
@FedFRASER