The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
STATEMENT FOR TEE PRESS Released for publication Friday morning, Jan. b; not earlier. St.2529. Federal Reserve Board, January 5. 1922. CONDITION OF FEDERAL KESERVE BANKS. Continued liquidation of discounted paper accompanied by a substantial return flow of Federal reserve notes and other currency, also a further mod- ' erate gain of gold, are indicated in the Federal Reserve Board's weekly con solidated tank statement, issued as at close of business on January 4 , 1522. Reduction in Federal reserve note circulation is more than offset by the in crease in deposit liabilities with the consequence that the reserve ratio continues unchanged at 7 1* 1 per cent. Federal reserve bank holdings o f b ills secured by United States Govern ment obligations were $ 3 , 700,000 less than the week before, reductions in paper secured by U. S. bonds, Victory notes and Treasury notes being offset in part by a substantial increase in paper secured by Treasury certificates. Other discounts on hand show a decrease for the week of $5 7 ,5 0 0 ,0 0 0 , while holdings of acceptances purchased in open market, largely by the New York reserve bank, increased by $12,b00,000. U, S. bonds and notes, owing in part to the redemption of Victory notes by the Government, show a decrease of $10 ,2 00 ,0 0 0 . Pittman certificates on deposit with the Treasury to secure Federal reserve bank note circulation declined $ 6 ,5 0 0 ,0 0 0 , while other Treas ury certificates, largely held under repurchase agreementsby the New York and Chicago banks, show an increase of about $ 7 ,0 0 0 ,0 0 0 , Municipal warrants held by the Philadelphia, Minneapolis and Kansas City banks show an increase from $334,000 to $379,000. Total earning assets as the result of the changes in dicated were $b 4 ,900,000 less than the total reported the week before and on January U stood at $1,1*70,900,000, compared with $ 3 ,1 3 0 ,0 0 0 ,0 0 0 nbown about a year ago. Of the total holdings of $477*500,000 of b ills secured by United States Government obligations, $ 3 3 1 , 500 , 000, or 69-4 per cent, were secured by Lib erty and other U. S. bonds, $ 5 8 ,2 0 0 ,0 0 0 , or 12.2 per cent, - by Victory notes, $2 3 ,4 0 0 ,0 0 0 , or 4 .9 per cent, - by Treasury notes, and $6 4 ,4 0 0 ,0 0 0 , or 13 .5 per cent, - by Treasury certificates, compared with $3 4 5 ,4 0 0 ,0 0 0 , $ 6 6 ,7 0 0 ,0 0 0 , $ 2b , 000,000 and $ 49 , 100,000 reported the week before. Government deposits are shown $ 3 , 300,000 less than the week before, re serve deposits increased by $ 6 5 , 400 , 000, and other deposits, composed largely of non-members1 clearing accounts and cashiers’ checks show an increase of $ 2 , 500, 000. Federal reserve note circulation shows a reduction of $ 3 3 ,2 0 0 ,0 0 0 , not withstanding the fact that the New York bark reports only a nominal decrease in note circulation, while the Chicago bank reports an increase of over $ 3 , 000, 000. In addition the reserve banks report a decrease of $700,000 in their aggregate net lia bilities on Federal reserve bank notes in circulation. Gold reserves show a record high total of $ 2 , 875 , 300 , 000 , an increase of $ 5 ,7 0 0,00 0 for the week and of $7 9 5,00 0 ,0 0 0 since January 7 of last year. Other reserve cash shows a gain for the week of $ 1 1 ,9 0 0 ,0 0 0 , this gain repre senting apparently silver certificates and greenbacks in small denominations returned to the reserve banks after the holidays. After closing their books on December 31 and paying the accrued semi annual dividend, the reserve banks paid to the Government a total of $5 9 ,9 74 ,0 0 0 of franchise taxes and increased their surplus to $ 2 1 5 , 523 , 000, which consti tutes 104-5 Per cent of the banks’ total subscribed capital, reported at the beginning of the year. Released for publication, Friday morning, -Jan. b, 1922; not earlior.St. 2529a. EESOUECES AHD LIABILITIES OF THE TWELVE FEDEPAL HESEBVE BANKS COMBINED. (In thousands of dollars) E S S O U E C E S ' Jan. U. 1922 Gold and sold c e r t i f i c a t e s ....................... Gold settlement fund - F.E.Board . . . . Gold with foreign agencies . _____________ Total gold held by b a n k s ................... „ , , Dec. 2 8 , 1921 3 7 7 ,b75 507,23b ___ 3-885,511 Total reserves ................... ... l,8Ub,3b9 . IQ g .jg l lfo. J & l 2 ,S b 9,b 00 2 ,0 8 0 ,2 8 2 13U, 50U — 122 >k.0Q —^ - 3 .0 0 9 ,2 0 2 2 , 992,200 2,27b,2US Bills disco-anted: Sec. 'by U.S. Government obligations . All o t h e r .................................................. Bills'bought in open r o a r k e t ................... U. S. bonds and n o t e s ................... ... . . U. S. Certificates of indebtedness: One-year certificates (Pittman A ct). . A l l o t h e r ............... .................................. 1,2 9 ^,0 73 UB ^ r f T 9’ ^ 71 113,000 Municipal w a r r a n t s ...................................... .... .........3X9. . l,U ? 0 ,9 2 l Bank p r e m i s e s ....................... ...................... 5^ Eedemption fund against F. E. Bank n o te s ................................... Uncollected i t e m s .................................. • All other r e s o u r c e s .................................. TOTAL ESSOUECES 3 5 3 . 1,5ik c Uo7,193 b92,bU0 1 , 502 , 81;, — H ^)2U 0 — 2.3 >75^ U77.^5b b 3 § ,U l 12b , 8b5, Total bills on h a n d ............................... 1 ,2 3 9 ,^3 2 Total earning assets ............... i ^20,911 5j>^-»099 ^ ^'xoo -- =— ■ ; — 915,0 10 b 59,079 Gold with Federal Eeserve Agents . . . . 1 ,9 0 2 ,9 ^ 2 Gold redemption fond ................................... 2 b ,875 Total gold reserves .............................. 2 ,8 7 5 ,2 9 2 Legal tender notes, silver, etc............... T Jaa» 5 . 7.Sa» b32,Uc2 1U, 1Q3~ 00 ............................... 5 , 1 7b,Ul7 , 2,8U 2,108 59,^72 2 b ,121 119,5^0 b 2 ,U72 259>3/5 2,1*10 ---- 33^- --- =-- 1 ,5 3 5 ,2 5 1 3»130,01U 0 1 5 17,355 . 7.SSb I f . 3*9 5 5 9 ,7bb -- 20 ,_52^ --- 5 ,b._2 5 , 1 51 ,30b b.ISb.UOS 103,18b 2 1 3 ,82U 99,808 202,03b L I A B I L I T I E S Capital paid in .......................................... 103,203. ^ S u r p l u s ......................................................... 215,523 Eeserved for Gov't, franchise tax . . . Hlb Deposits: ’ _ Government................... ... b8,307 Member bank - reserve account . . . . l,7 3 l,3 7 U All o t h e r .......................................... ... . 2 9 ,U57 Total deposits ...................................... 1 ,8 2 9 ,1 3 8 F. E, notes in actual circulation „ . . 2,U05,31b F. E. Bank notes in circulation net l i a b i l i t y .......................................... 83,850 Deferred a vailability i t e m s ................... 523,293 / All other l i a b i l i t i e s ............................... 1 5 ,bUS v TOTAL L I A B I L I T I E S ........................... 5,17b,Ul7 Eatio of total reserves to deposit and F, E. note liabilities combined . . . Batio of gold reserves to F. E. notes in circulation after setting aside 35^ against deposit liabilities . . . . 71 • If- 92.5/* 57 , W * . .7l>^3^l,bb b,013 1,795,3^3 2b,,.872 _2 l»7bU,52U l,SUb,782 2,UU3,^97 3,2 7 0,02 3 SH,-5US U53,9bO 25,323 213,552 532,55b _2 1 ^5.1 5 , 151,306 b ,1 8 b ,’40S ^ 71* 1^ 97• 2 f *4b. U1 ,- *52-1/° ♦Calculated on basis of net deposits and F. E, notes in circulation Raleasad for publication Friday morning, -January 6 , 1922; not earlier. R E S O U R C E S A N D L I A B I L Federal Reserve Bank of Gold and gold certificates Gold settlement fund - F.R.Board Total gold held "by "banks Gold w ith F. R. Agents Gold redemption fund I T I E 0 7 S New York 7 ,2 2 5 M ,759 285,782 ..116,339 5 3 , 98U U0 2 ,12 1 6 Total reservesB ills discounted: Secured "by II.S.Govt, obligations A ll oth 3r B ills bought in open market 5 2 , 9 1 0 E R A L 1 , 0 7 0 , 0 3 1 1 5 2 1 uq.oiu - 15, ^ 9 B A N K S 2 0 3 1 , 8 7 3 U 5 , b 3 9 5 5 . 0 6 b - 1 , 2 , 2 b 0 1 5 3 8 , 5 S U 5 , 9 , b O U 6 2 9 9 1 9 b5,U 28 257,369 2 ,0 7 8 -Att&g U. S, bonds and notes U, S, Certificates of indebtedness: One-year certificates (Pittman Act) A ll other 8 . U 1 , 2 1 + 7 A T C L O S E O F B U S I N E S S 5t.2529b. JAN. U, 1922. (In thousands of dollars) 37,053 U3,977 327,700 66,918 --7,168 .. 5.,,799 __5,.58L 1 0 , 7 2 2 - 2 ,9 3 0 8 , 2 3 b 235,223 60, sou b8 ,bb 0 UU9 ,bUl 9b ,92b 6.820 _ -7.31U -baJ07 15.21b 1 0 , 8 5 5 2 7 1 7 5 , 2 5 0 8 25 7,10 7 1 ,1 1 9 ,0U5 225,056 2 U2 , 537 Total b il l s on hand I 5 , 9 7 7 . 6 6 U .U U U , 1 3 8 3 8 6 8 , 6 8 7 5 1 , 0 5 5 . ^ 7 0 ^ 0 8 6 U 2,1 7 3 . U 1 5,U8S 9 7,9 03 0 3 0 b 1 5 6 5 O 10.31U 1.233 3 5 5 , 31+U 1 1 0 , 571+ 132,008 , 0 , 1+ 0 0 20,299 39 ,6 51 ... 219 ,9U,UU7 196,720 9 2,9 10 3,7bO 1 0 2U.U53 6 1 ,1 9 1 65,903 127,936 _ jb,P9,i___ LJ593 , 1 + 5 1 8 ,OUO 285 5 0 I k , 23 k U6U , 857 10 7,781 6 7 ,5 1 1 9 8 ,1 0 5 118 ,19 5 Municipal warrants 9,359 8,5bU 77,203 Bank premises > + , 7 5 2 6 2,51+5 U 9 8 - , 6 U S 1 1 3 , 3 2 b 1 , 0 3 7 2 2 5 7 U 2 2 Uncollected items 6 5 , 2 1 1 , 6 0 3 1 3 A ll other rosources __________ i L _ . 9 3 , U 7 8 1 . 6 1 1 3 , 7 2 9 5 3 , 1 -1 5 3 2 0 t 72,523 11,73b 22l,3b3 2 .2 5 U 6.38b 1 8 ,lb 5 5 1 .U0U l.oqb 8 , 67 s 38,879 O U .7 S 8 1 , 6 2 3 9 0 , 1 1 0 U 3 9 . 2 3 5 1 0 7 7 9 , 0 5 3 1 1 0 2 , 9 1 2 _______ 8 6 , 8 7 5 ^ 8,913 70,665 U7.572 116 8 ,SbS 2,630 15 U7 7 ,U 5b 6 3 5 ,1 1 1 12 b , 8b 5 88,939 1 , 239 ,U32 3,563 *i 9. *-->) 5,320 1,900 7 ,880 113,000 69 U7 89 -------........ 150 ------- -------- ------------------w U-J. 101 809 35,265- 277 8 S9 156 39U 7,926 15.U91' U2 ,612 28,602 38,622 638 ,Ub2 39,672 , 7 U S , 5 2 , 16 s 80,132 i b 5 U.399 27,360 2 8 763 US,087 , 5 2 2 8 bib 523 i b , 8 3 b 85,072 l ,b b 5 288 --20-1.... --ill.. . 2 7 , 9 18,015 52,676 I 8 . 2 U8 52,102 100 ,U29 i ,U 7 0 ,92 i ..356 ...... 9.2b _____ 183. _ U 9 U 6 ,1 1 8 ____ TOTAL RESOURCES U 1 0 2 9 ,bb 3 280,268 2 ,8 7 5 ,2 9 8 6 .3b3 3 .U U 13U.50U 3 6 , 0 2 6 2 8 3 , 5 8 2 3 , 009,802 Ul.bSS - 7,225 377,675 -5 53,bb9 570 132 - 3 6 ,9 0 0 ^18. 59,523 212 188 539 7 0 0 , 7 6 b5,b23 ( o O O V 8 2 ,i5b2_ 58,605 5 , 1 7 b , 0 2 Total U,U50 12,667 6 ,U 30 1 , 8 0 f - 1 , 1 6 1 6 , 2 9 7 .. 1,216 1 U0 Total earning assets 5£ Redemption fund against F» R, Bank notes R E S E R V E R E S 0 U R C E S Phi la. C l e v e . Rich. Atlanta Chicago St. Loui s Minn. Kans.Cy. Dallas San Fran, 1,552 12,295 3 ,2 7 0 9 ,lUb 2 ,5 0 1 2,b73 5,177 21,982 7,377 18,295 -5 7 , 7 2 2 UP.510 -lja2J9. _ij.v9i9 ...B ,2 3 7 23.80S 2 9 . 9 U 6 8,29b 3U.22U 3 1 , 7 9 7 59 ,b?U 52,205 17,952 1 9 , 0 9 6 111 ,2 1 9 2 7,0 78 3 9 , 0 9 2 3U.298 15,673 52,519 15.000 2U l,blS Legal tender notes, silver, etc. F E D Boston l b S , 3bl -19,2 7 3 Total gold reserves T H E 2 1 7 , 1 0 3 1 3 0 , 6 1 ,9 2 0 5 , 6 7 a 1 2 2 , m U 2 9 . 9 5 H 5 , 1 7 6 , 1 * 1 7 Released for publication Friday morning, Jan. 6, 1922; not earlier. St.2529c. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JAN. 4, 1922. (In thousands of dollars) C a p ita l^ a id 8^ sS S ta i 0 Fhlla. Clave. J ’S f Reserved for Govt, franchise tax Deposits: S S S p c i i « ~ 17,9X ■ * ■*-§ ICO* jig l ^ g T 2 ’ 5 ! Bart! n ^ er ^ i r ^ S t i o n ° - Deferred^availability items All other UaM lities wvnar TT.t.TTTmTxI “ ’J g n fe g - reserve account p H f !r ^ n -W IH £ Hich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. *t,189 lit,308 4,604 3,569 “ ,605 4,203 7,376 5,429 U ,0 £ f £ % 9’ ta 4 ^ 5 29' ° | | 9,3f f f? 2^ » .g g ^ :S g 665 ' 073 196,866 212,472 105,793 120,193 ^ ia ,3 6l 7'% -* 6 ^ 23 7 ' 39^ - 25 ^ ^ < * .% .* .% 9^,222 56 ,6 74 15 ' 19| 5 l | g Total 103,203 215’g l 416 : , 73^ i , sl l ! ^ i 68,577 3 5,226 2 3 9 , ^ 2 , U 05,316 Ri’ qw inS’ S f J ’ ?!? c5,7i72 3 ,i^6 7,975 , 7,512 3,926 U’2° 6 10,U95 2*6g0 1+»766 83,880 ^ ’I S 10f ’£ g 53’ * S 51’£ S 35‘ U33 18,873 ^ * 631 35,227 13,308 27’777 32’° " ' 523>293 — , 768--- ^ 1 2 2 --- 186_____ 803 512 725 5,113 808 1,118 867 1,596 1,153 15,648 ^ ’ 786 1 ,6 2 3 ’ 729 390,110 439,235 216,522 216,748 779,053 217»103 130,649 205,678 122,848 4 2 9 ,951* 5.176,417 Ratio of total * Hatio of total reserves to deposit and F ,R . 80.1 l i a b i l i t i e s ccjnbined, per cent 79.3 7l*a 63.5 te>0 te-2 y0_} ^ .1 ^ ^ }<g(Jg ^ 59-0 51.3 45. 5 76.8 71.1 ^ ^ ^ Contingent lia b ility on bills purchased for foreign correspondents F. R . notes outs tan din a P. R. notes held by banks F. B. notes in actual circulation ircuiation Bills discounted Bills bought in open market U. S. Certificates of indebtedness Municipal warrants . 2, 3 36 oon jg ,^ , 2>5to ^ ^ ^ FEDERAL KESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 2g ’ ? | l 8H ’ i ^ ~ roo S 200,425 ^ .1'] * 5 ^ 5' 75? 113'f ? 3 ^ 663,073 196,866 212,1*72 105,793 120,193 **12,361 94,222 59.918 75.160 .. ^ 56,674 6>583 68,577 39.181 295.807 2,7 86,114 3,9W 56,373 3S0' 7<1S 35.226239,4342,405,316 ° F BILLS’ U * S< CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS BY MATURITIES ^ ^ days 31 to 60 days 6l to 90 days Over 90 days Total 1 69*629 5 pn? dAi IJ’S n l 'T £ 2 »5°0 26 1 67,695 J9 *5,2 ? 1 2 ,^ 1 142 118 ,13 8 S'I V 28,634 - 60,693 J k 1 3 3 ,^ 1 _ 1,1 1 2,56 7 126,865 182,435 379 Rsleased for publication Friday morning, Jan. b, 1922; not earlier. FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS JAN. 1+, 1922. Federal Reserve Agent at Boston New York St,2529d, (In thousands of dollars.) Fhila, Cleve. Rich. Atlanta Chicago St. Louis Minn, Kans.Cy, Dallas San Fran, Total R E S O U R C E S Federal Reserve notes on hand Federal Reserve notes outstandir Collateral security for Federal Reserve notes outstanding: Gold and gpld certificates Gold redemption fund Gold fund - F* R. Board Eligible paper Amount required Excess amount held TOTAL 98 , 31+0 220,1+08 322,910 5,600 29b ,921+ 3U.9S6 I7 ,7 b l 11+5,000 1+8 , 1+00 31+,900 2 5 ,119 73,2 51 2 821,685 2 3,051 238,188 1 1 6 ,U53 12 6 ,61+5 12,375 12,195 11,875 321,000 11+0,389 11+5,000 52,01+7 lb8,775 13,381 63,001 7 0 , 1+67 14,970 62,932 5U ,122 2 , 1+00 2b , 0b0 113,263 455,755 139 , 01+0 . 15,055 5 ,960 M 58 9,390 59,912 34,295 39,000 312,bl+5 56,100 13,052 1 , 01+5 2,200 79,U00 8 2 ,6b8 ll,Ub7 128,055 68,560 1+6 ,91+5 13 ,14 7 1+3 ,6 2 1 3,228 2,752 12,360 2 ,5 7 7 8,000 75,160 _ 1,403 27,3bO Ufo ,397 2l+,18b 20,125 39,740 21+5,275 39,181 295,207 2 , 726 , 111+ 6 ,70 1 31+9,012 2,801 13 ,648 120,962 2 , 231+ 207,715 1 ,^ 3 2 ,9 3 2 27 ,UU-5 19,668 7U,Ul+U 13,291 S83.202 311,921 552,537 2 , 029,281 509 , 1+72 565,392 ;2 70,325 338,008 1 , 119 ,110 2bb,933 132 ,14.51+ 182 , 50b 112,155 61+5 ,21+5 6,729,1+81+ L I A B I L I T I E S Net amount of Federal Reserve notes received from Comp troller of the Currency Collateral received from Federal Reserve Bank: Gold Eligible paper TOTAL V 318,748 1 ,1 4 4 ,5 9 5 2 7 l,U 5 l 273,088 11+1,572 199,296 168,361 65,4 28 652,910 152,524 175,250 37,053 25,437 H 7 ,0 b 0 91,760 231,776 *+3 >977 9 4 ,1 3 5 594,795 139,923 6 9 ,3 08 83 , 160 59,306 335,547 3 ,631,329 327,700 bb ,918 196,615 60,092 16,297 Ub,si+9 2S,7b3 70,523 H ,7 3 b 221,363 1 ,902,912 47,113 88,335 1,195,123 552,537 2 , 029,281 509 , 1+72 5b5,39S 270.3S5 332,008 1 , 119 ,110 2b b ,933 13 2 ,U5U 18 2 , 50b 118,155 bU5 , 2 U5 6 , 729 , 1+81+
@FedFRASER