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6 STATEMENT FOR THE PRESS Released for publication Friday morning, Jan>. 13; not earlier. St.2$UU. Federal Reserve Board January 12, 1922- CONDITION OF FEDERAL RESERVE BANKS Return to the reserve banks of large .amounts of Federal reserve notes and other currency, and substantial reduction in deposit lia b ilitie s, ac companied by commensurate liquidation of discounted ana purchased, bills, are indicated in the Federal Reserve Board's weekly consolidated bank statement issued as at close of business on January 11, 1922- Gold reserves shc.v a further gain of $20 , 300 , 000, while other reserve cash, composed largely of silver certificates and United States notes, increased by $11,200,000The banks' reserve ratio’ shows a rise for the week frcm 7 1*1 to 7^*7 P®r cent. Reserve bank holdings of paper secured by Government obligations show a reduction for the week of $ 5 0 ,0 0 0 ,0 0 0 , Other discounted bills on hand de clined by $ 7 5 , 100 , 000, while holdings of bills purchased in open market, ■largely by the New York reserve bank, because of the considerable decline of money rates in the open market, fell off $’4 0 ,1 00 ,0 0 0 . United gtates bonds and notes show an increase of $3 ,5 0 0,00 0 , Pittman certificates show no change, .vhile other Treasury certificates, held largely under repurchase agreements by the Nev York and Chicago banks, shew a reduction of $15>^00,000, a larger re duction sho^n for these two banks being offset in part by considerable pur chases reported by the Boston bank. A slight increase frcm $379>000 to $3S5,C0C is shown in the total of municipal warrants held by the Philadelphia, Minneapolis and Kansas City banks- Total earning assets, in consequence of the changes noted, are shown $177,100,000 less than the week before and on January 11 stood at $1,293>800,000, compared with $2 , S bS, 500,000 about a year agoAll classes of Government paper, except bills secured by treasury notes, show substantial declines for the keek. Bills secured by Liberty and other U. S. bonds decreased frcm $331,500,000 to $306,800,000. bills secured by Victory notes - from $52,1 00 ,0 0 0 to $5*+, 600,000, and bills secured by Treasury certificates - frcm $ 6 ^ ,0 0 0 ,COO to $33>200,000, while bills secured by Treasury notes increased frcm $2 3 ,^00 ,0 0 0 to $32,900,000Government deposits are shown $53>COO,0C0 less than the week before- Re serve deposits increased by $ U , 200, 000, while other deposits, composed largely of non-members1 clearing accounts and cashier's checks, fell off $3 ,^ 00, 000. Federal reserve note circulation shows a reduction for the week of $ 1 1 1 , 500, 000, compared with a reauction of $ 1 1 0 , 500,000 during the correspond ing week in 1921- Aggregate lia b ilitie s of the reserve banks on Federal re serve bank notes in circulation show a slight increase, though the amount out standing, according to Treasury records, shows a decline of $ 1 ,^ 0 0 ,0 0 0 for the week. Released-for publication, Friday morning, Jan. 13, 1922; not earlier. S t . 25UUa. RESOURCES AMD LIABILITIES OF THE TwELVE FEDERAL BESERVS BA1KS COMBINED. (in thousands of dollars) R E S O U R C E S Jan. ^11, 1922 . ,Jan. U. 1°22 Jan. 11+. 1921 502*010 377,b75 507,236 2U7,3b5 393,173 3 a go . , ggi+^ll+S 335,511 61+3,333 Gold with Federal Reserve Agents Gold redemption fund . . . . . . l , 9 10 , 5bl 100,330 1 , 902,512 gb,gI5 i,2b5,55S 17b.053 2,895.589 1^5, 2 .S 75 .2 9 3 2,Og5,U5U rsU.5QU 2 0 1 ,08U 3 , 0U i , 29U 3 , 009,202 2 ,2 3 3 , 53S U27 ,U7b 560 , 01 s 3b, 75':- U7 7 .U56 l,02U,607 6 3 5 ,m 12 b .g b 5 1,U2U,933 _ 203 , 1+12 l';&7U,2l# 1 ,239,^32 2^ 652,952 Gold and gold certificates . . . G-old settlement fund - F.R,Board Gold with foreign agencies . . , Total gold held by franks Total gold reserves . . . . . Legal tender notes, silver, etc. Total r e s e r v e s ............... ... B ills discounted: Sec. "by U.S. Government obligations All other . . . . . . . B ills ‘bought in open market Total h ills on hand . . U. S. bonds and notes . . U. S. Certificates of indebtedness: One-year certificates (Pittimn Act) All other ....................... Municipal warrants . . . . Total earning assets Bank premises ................... 5<jo Redemption fund against F, R. Bank notes , . . . Uncollected items . . . . All other resources . . . TOTAL RESOURCES . . 52,150 113,000 25,907 113,000 5M U0 m 1,293.323 l,U 7 0 ,9 2 l 3 5 , 045-/ a / 35,2^3" * « ' 7,93§ 5US,U3b 1 2 , ga - 7a f 63 S,Ub 2 11+. 105- * 01 U ,339,322 7.92b 5,176,U17 259,3 75 30 ,310 ______ — 2 , 9b g , 5UU 17,955 12,799 706,076 b.801 6 , 000,713 L I A B I L I T I E S Capital paid i n ................... . . ....................... Surplus . . . . . Reserved'for Gov't, 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 10 3 , 201+ 103,203 99,315 215,392 853 215,523 l+lb 202,036 15.2S9 l,735,5b3 2 b ,055 63,307 1.731.37U ___ 29..U5I 3,970 1,756,325 27.U6U l,77b,907 1,329,133 1,792.759 2,2 9 3,79 9 2 , 1+05,316 3 A 5 9 .U 9 1 S 3 ,5 " U U 9 ,f e ___ 15,729 g3,ggo 523,293 1 5 , bU3 213,177 509,1+52 ___ 2 L & & b, 939,322 5,17b,Ul7 fa,000,713 Batio of total reserves to deposit and F.. R. note liabilities combined . . 7U.7 7 1 . 1# *1+3. if* Batio of gold reserves to F. R, notes in circulation after setting aside 35^ against deposit liabilities . . 105.5 O'3 . 5/ f5U. 9p ^Calculated on basis of net deposits and F. E. notes in circulation. Be leased for publication Friday morning, Jnnurs.ry ^3 * ii0^ sarj-iar. * RESOURCES AX'© LIABILITIES OF TBS FEDERAL RESERVE BANKS AT CLOSE OF BUSINSE Boston Federal Reserve .bank of Total gold held by banks Total gold reserves Legal tender notes, silv er, etc. Total reserves Total b ills on haid U . S* bonds and notes U . S 4 Certificates of indebtedness One-year certificates (Pittman Ac ) Total earning assets Bank premises 5c /o Redemption fund against F. R. Bark notes Uncollected items All other resources TOTAL HESOURCES Atlanta Chicago St, Louis Minn. Kans.Cy, Balias San Fran, 2 , 09$ 162,253 13 ,7 2 1 2 1 1 ,6 1 2 1 , 121,400 213,752 2 3 4 ,5 11 61.052 _ J L b 2J _ 7^324 2 0 .0 4 0 2 3 1,6 5 2 1 , 1 7 2 , 45s 221,375 2 4 1,2 3 5 B ills discounted: Secured by U,S.Govt, obligations All other B ills bought in open market ' All other Municipal warrants R E S O U R C E S Rich, Phila, Cleve. 2,720 5,233 2 1,9 13 12,413 .ZCtiJ.'-’J!.... . ,r1 rJ..r— 55,234 57,122 2 1 ,5 5 1 12,332 107,972 622,622 14 7,2 5 1 170,070 33,9 50 3 9,297 3 1 S ,435 15.000 10,0b7 19.241 2.323 7.259 2.509 7,4 7 1 229,021 ^ -*•»Ji .. 423.772 29,044 Gold and gold certificates Gold settlement fund - F»R,Board Gold with F,S.Agents Gold redemption fund New York 12 ,12 5 22 ,3^9 41,947 3 6 ,7 7 4 65,996 42,57b 4 .930 . 3,332 60,084 10.353 50,227 126,952 22,622 3 ,549 252 27,171 112,273 2 ,b 30 5,49b 2,450 35,400 2,040 3,7bO - 22 ,3 19 — 25,145 14.321 10,000 2 9 ,4 22 — .. . 53b 55 - 191 252,632 100,047 126,945 1,233 21,220 5 1.16 9 52,754 102 , 53b 4 .2 0 4 13,223 24,232 172,922 10,162 10,202 2,564 1 - 12,667 1,414 - 93 ,6 75 102,965 197,377 7 ,oio 2 ,545 1,0 37 Total 3,337 9.17S! 2 , 5bU 7 .6 2 1 1 2 ,5 7 1 332,132 ..... 1w . Jf .hr.irU .V r _ _ ■ 13,412 334,142 5b,059 31,497 33,5bl 35,92b 11,970 212,453 1 ,9 10,561 23,516 27,537 67,351 100,230 2 .232 ..J L 4 0 S ._ 1*255. ...-JL372 2 ,423 64,0 10 66,612 446,242 10 1,3 3 1 11.722 b ,45b ... 5,9.10.. 13,309 70,506 72,52 2 464,557 H 3 ,0 5 3 122,965 3 5 ,3 H 2 2 ,bib 12,706 1922. (in thousands of dollars) 59,959 6 6 ,5 2 1 27 ,3 37 2 2 1 ,2 3 4 2 , 895,529 234 _ 7*112 . 5 J 1 9 .. 3.,53 .3 145,705 74,053 33,05b 235,422 3 ,0 4 1 ,2 9 4 60,793 753 2,520 41,008 .... 15 19,170 427,47b 46,173 560,018 12,447 ....... 36,754 65,545 49,603 77,795 1,0 7 4,24 2 115 2,268 2,630 4,628 52,150 4,450 32 44 5,320 44 150 1,900 7,330 113,000 7 54,040 12,239 33,493 3 SO 32,021 52,717 44,257 1.173 b,5b9 204 — b,77b - 15,76 7 49,025 - bib 49,493 20b 79,927 4,400 54,133 2 ,037 60,663 335 90,310 1 , 293,823 8O9 35,Oi9- 4 ,773 6 ,642 422 1,623 700 539 122 522 1,665 523 29 I 916 156 394 7,939 50,563 114,749 45,066 42,393 45,b5l 64,3 50 31,699 14,337 32,242 2 2 ,1 33 41,949 548,43b 424 ....1JQ5. 24,699 212 212 127 922 0 14 %fJ 29 551 20^ _ .2 0 2 0 . 6 .1 8 5 1 2 .& H 5 372,925 1 , 54 9,6 11 3b7,S3l 4 21,641 2 1 3 ,116 201,963 735,671 206,741 126,653 192,341 119,700 425,069 4 , 939,322 Released for puolicai a Friday morr.In g , Jan. 1 3 , 1S22; net earlier. St.2544c. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JAN . 11, 1922(In thousands of dollars) L I A B I L I T I E S Federal Reserve Bank Boston New York Phila. Cleve. Rich. Atlanta Chicago St-Louis Minn. Kans-Cy. Dallas San Fran. Total Capital paid la 7 ,936 8,736 1 1 , 13 *+ 5,430 4 ,604 4 ,1 9 1 14,308 ^,203 7,380 3,569 4 ,5 9 9 103,204 Surplus 16,483 60,197 1 7 , 91+5 22,509 11,0 30 29,025 9 ,H 4 9,388 7,468 9,646 7 ,3 9 ^ 15,159 215.392 Beserved for Govt, franchise tax 123 51 103 53 81 128 124 26 76 83 853 5 Deposits: Government 2 , 1+26 1 , 1+59 725 1 ,6 1 7 1 , 41+5 628 130 659 2 ,073 1.527 $45 1 .6 5 5 15,289 Member tank - reserve account 110,768 708 , 588 10 1,18 0 131+, S36 53.371 45,1 26 239, *+77 65,564 42,248 68,517 1 + 2,978 122,910 1 , 735,563 All other _____93*+ 1 2,575 1 ,2 0 3 751 428 334 2,322 448 604 779 ________________________ 299 5,378 26,055 Tctal deposits 113,319 67 >788 42 ,8 26 70,61+S 1+4,222 12 9 , 91+3 1 , 776,907 F .R . notes in actual circulation 188,326 626,329 188,021+ 206,712 102,199 116,233 38S.911+ 90,139 55,577 6 6 ,6 4 4 33.732 230,^70 2 , 293,799 3?»R. Bank notes in circulation net l ia b il it y 6,890 20,759 6,525 5,7 1 5 3,359 7.488 7,594 3,950 4,084 10,218 2,613 4,782 83,977 Deferred availability items 39,227 88, 31+9 1+2,286 38,329 36,072 16 ,5 5 1 >+9,182 30,205 12,0 16 35.666 25,987 35.585 449,455 All other lia b ilit ie s 751 3,151 1+22 827 ____1+87 725 4,097 591 1,087 837 1 ,5 49 1 ,2 0 5 1 5>729 TOTAL LIABILITIES 3 72,985 1 , 5^ 9 .6 1 1 367,831 4 21,641 2 13 ,116 201,963 735.671 206,741 126,653 198 , 34i 119,700 425,069 4 , 935,322 Ratio of total reserves to deposit and F .R . note lia b ilit ie s combined, per cent 76-8 86.9 Contingent lia b ilit y on bills purchased for foreign correspondents 2,336 12,036 75*8 70-5 45.0 44-3 7 3 .6 7 1 .6 2,560 2,624 1,568 1 ,1 5 2 3,808 1,50 4 6 1.8 53-9 864 ^2-4 1,536 832 7 9 .I 1,472 7 4 .7 32,292 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F . R. notes outstanding F- R. notes held by banks 2 K ’ 5?f? F . E . notes in actual circulation 188,326 213,359 232,707 115,0 30 12 3,16 0 446,490 111,2 9 6 25 .3 3 5 25 ,9 95 12,831 6,9 2 7 57,576 21,157 626,329 188,024 206,712 102,199 116 ,233 388,914 90,139 58,327 2 ,7 5 0 74,284 55,577 66,644 7 ,6 4 0 37,360 291,816 2 , 732,861 3,628 60,846 439,062 33,732 230,970 2 , 293,799 DISTRIBUTION OF BILLS, 0 . S„ CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS BY MATURITIES Bills discounted Bills bought in open market U- S Certificates of indebtedness Minicipal v/axrants Within 15 days 569,315 32,210 2 , 00C 16 to 30 days 95.071 25,621 134 31 to 60 days 152,155 16,773 17,3 77 150 6l to 90 days 110,092 12.147 21,223 Over 90 days 60,858 3 126,44-0 51 Total 987.494 86,754 167,040 385 Released for publication Friday morning, Jan. 1 3 , 1322; not earlier. FEDERAL KESE"7E AGENTS' ACCOUNTS A1? CLOSE OF BUSINESS JAN 11, 1322. Federal Reserve Agent at Boston New York (in thousands of dollars) Phila. Cleve. Rich. Atlanta Chicago S t . 25 'il;d. St,Louis Minn, Kans.Cy, Dallas San Fran. Total R E S O U R C E S Federal Reserve notes on hand Federal Boserve notes outstanding Collateral security for Federal Reserve notes outstanding: Gold and gold certificates Gold redemption fund Gold fund - F. r . Soard. Eligible paper M ovni required Excess amount held ’T0TAL 103,320 2 10,860 5 ,b 00 13.253 150,000 336 ,230 53,360 36,300 24 ,6 39 7 3 ,656 818,172 213,359 232,707 115,030 123,160 141,220 26 ,0 60 44 b ,490 111,29b 296,925 18,^75 34,703 12,462 11,695 3 5 1 , 0 0 0 1 3 5 , 389140 ,0 0 0 42,007 135,544 8,£20 ____ 28 ,8 75 65 ,5 03 3,339 62,637 5^,236 - 9 ,2 0 0 58,327 11,440 7 4 ,2 8 4 2,655 3 1,29 5 2 ,4 0 0 3 ,4 9 7 3 4 ,0 00 15,791 302,644 2,291 59,100 1 ,2 6 4 2 ,2 2 7 9,200 25,360 81,080 5 ,168 83,263 636 128,055 44,863 43,945 8,732 3 4 ,8 1 1 8 ,0 6 3 5,960 13,052 46,697 1 8 ,841 2 1 , ISO 4 1 ,8 4 0 378,625 37,360 291,81b 2 ,7 3 2 , 8bl b ,701 343,01 3,035 17,561 120,434 2 ,2 3 4 200,832 1 ,4 4 1 ,1 1 4 25 ,3 90 23,849 73,363 3 ,7 4 2 822,300 205,169 533,920 2 , 001,509 483,417 551,950 253,867 320,612 1 , 079,123 257,334 133,922 178,849 119,749 6 23,214 6 , 549,516 L I A B I L I T I E S Net amount of Federal Reserve notes received from Comp troller of t-ie currency 314,240 1,154,462 266,719 263,007 133,669 19 6 , 81 b 58,540 333,656 3 , 611,486 587,770 137,356 6 7,527 85,724 313,435 172.918 2 3,516 27,537 11,9 70 218,453 1 ,9 1 0,56 1 4 2,879 65,538 49,239 Collateral received from . Federal Reserve Bank: , Eligible paper T0TAL i <3 168,853 50.827 682 , 6 2 8 1 4 7 , 8 5 11 7 0 ,0 7 0 Ib 4.4l9 68,847 112.873 3 3 ,9 50 86.243 39,397 83.839 67,351 52.677 7 7 ,1 0 5 1 ,027,469 533,920 2 , 001,509 483,417 551,950 259,367 320,612 1 , 079,123 257,334 133,922 173,849 119,749 629,214 6 , 549,516
@FedFRASER