Board of Governors of the Federal Reserve System (U.S.), 1935- and Federal Reserve Board, 1914-1935. "January 18, 1920," H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks (January 18, 1920). https://fraser.stlouisfed.org/title/83/item/492622, accessed on April 27, 2025.

Title: January 18, 1920

Date: January 18, 1920
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image-container-0 st. g6o SIATELIENT FOR THE PRESS iielaased. for publication Stxiday Federal Reserve Board, morning, January IS; not earlier. January 17> 1920. CONDITION OF FEDSmL RESERVE- BAMCS. Further reduction in Federal Beserve note circulation as against a considerable increase in reserve deposits is indicated in the Federal Re- serve Board*s weekly bank statement.issued as at close of business on Jan- • uary l6, 1920• The return movement of Federal Reserve notes since the be- ginning of the year has caused a net decrease of about 159 millions of Fed- eral Heserve notes in circulation, compared with a net decrease of about 146 millions during the corresponding peiiod in 1919* The banks 1 reserve ratio, notwithstanding the large increase in deposit liabilities, shows but a slight decline from 45.4 to 4$.l per cent. War paper on hand shows a nominal decrease of 0.6 million,, other discounts • went up 20.9 millions, while acceptance holdings were about 1 million larger than the week before. Of the total of 1,351.5 millions of war paper held 645*1 millions, or 4-7*7 per cent was secured by Liberty bondsj 282.6 millions, or 20+9 per cent by Victory notes, and 423«7> or 31*^ per cent by Treasury certificates, as against 49,9, 19.O and 31.1 per cent of a total of 1,352.1 millions of war paper reported the week before. An increase of 17*3 millions in Treasury certificates on hand represents the increase in temporary certificates held by seven Reserve banks to cover advances to the Government pending receipt of funds due from depository institutions« Discounted paper held by the Cleveland, Atlanta, Chicago, St. Louis Dallas and San Francisco banks include 119^2 millions of bills discounted for other Federal Reserve banks, (as against 4.1 • 9 millions of such bills held by four banks the week before), while acceptance holdings of six Reserve banks include 48.2 millions of bankers* bills purchased from the New York and Bos- ton Banks, as against 6O..9 millions the week before» All classes of deposits were larger than the week before. Government deposits increased 6*9 millions reserve deposits, apparently as the result of considerable redemption^on Jan- uary 15 of Treasury certificates, increased 93*3 millions, and other deposits (including foreign government credits) - 11*4 millions. The float carried by the Federal Reserve banks 'shows an increase for the week of 8,4 millions, As the result - net deposits work out at 103*2 millions more than the week be- fore. Gold reserves increased 2.5 millions, while total cash reserves show a gain of 2.2 millions, gold deposits by the Treasury being in excess of the aggregate of export withdrawals and sales of gold held abroad.
image-container-1 ileleased for publication Sunday morning, January IS, 1920; not earlier. gfc COMBINED BESOUKCES AMD-LIABILITIES OF THE TWELVE FEDERAL BBSEILVE BANKS " BESOUBCES January 16, 1920 January 9, 1920 January 17,1919 Gold and -old certificates $212,119,000 $220,301,000 $33^.696, Gold settlement fund, F.12. Board U £ )b,2c,b ; 000 320,263,000 327>572 Gold with foreign agencies 120.121^000 123.122.000 5.828, Total sold held by banks 728,702,000 723,226,000 728,09b Gold with Federal Deserve Agents 1,136,326,000 1,209,508,000 1,229,105 Gold redoption fund , IIS.850.000 107>g77,000 85,3 Total gold reserves $2,043,878,000 $2,041,371,000 2,102,569 Legal tender notes, silver, etc. 60- 401.000 60,728,000 bj,594 Total reserves 2,104,281,000 2,102,099,000 2,170,163 t,.,. . (Secured by Government war obligations 1,151,454,000 1,352>025,000 1,347,088 & anooi^A 11 ether 748,611,000 727,670,000 254,263 Bills boaght in open narket • 575.675,000 574,722,000 2/1,607 Total bills on hand 2,675,740,000 2,6)4,477,000 1,874,952 U, S. Government bonds 27,036,000 26,236,000 28,571 U. S. Victory notes 64,000 264,000 U- S. Certificates of Indebtedness 119,684,000 302,406,000 271,173 All other earning assets ^ — 4 Total earning assets 1 022 524 000 2,923,923,000 2,174,706 Bank premises 10'46l,000 10,410,000 8,023 Uncollected items and other deductions from gross deposits 1,116,852,000 1,021,69b,000 21b,914 5.p Redemption fund against F.ll. bank notes 12,865,000 » 13,254,000 6,531 All -other resources 5/^6l[000 - 5.24l. 000 10,796 TOTAL RESOURCES 6 272 446 000 6,136,683,000 5,127,193 LIABILITIES ' Capital r,aid-in 87,32$,000 87,451,000 80,510 Surplus _ 120,120,000 120,120,000 22,732 Government deposits 3^,698,000 27,798,000 48,996 Due to members - Beserve account 1,943:561,000 1,250,219,000 1,694,960 Deferred availability iters 849,854,000 763»146,000 537,205 Other deposits, including foreign government credits 107,200,000 96,425,000 128,216 Total gross deposits 2,935>913JOOO 2,737,588,000 2,409,397 F. B. notes in actual circulation 2,849,879,000 2,9-*-*+,360,000 2,513,089 F.B. bank notes in circulation - net liability 258,482,000 259,099,000 125,011 All other liabilities ' 20,521,000 18.057.000 l6,44S TOTAL LIABILITIES 6,272,446,000 6,136,683,000 5,127,193 Ratio of total reserves to net deposit and F.Iunote liabilities combined 45*1/^ ,l\.' % ^2 Datio of ^oll reserves to F.ll* notes in circulation after .os: setting aside 35/- against net deposit liabilities 5^*of° 5^-5/^ 64.2/b
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Date: January 18, 1920
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