Board of Governors of the Federal Reserve System (U.S.), 1935- and Federal Reserve Board, 1914-1935. "July 29, 1921," H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks (1921-07-29). https://fraser.stlouisfed.org/title/83/item/492966, accessed on April 27, 2025.

Title: July 29, 1921

Date: 1921-07-29
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image-container-0 STATEMENT FOR THE PRESS Released for publication St«2l62 Friday morning, July 29; Federal Reserve Board not earlier. July 28, 1921• CONDITION OF FEDERAL RESERVE BANES Aggregate gains of $22,900,000 in gold and of $3,000,000 in other cash reserves, accompanied by a reduction of $26,900,000 in Federal reserve note circulation and an increase of $2,300,000 in deposit lia- bilities, are indicated in the Federal Reserve Board's weekly bank state- ment issued as at close of business on July 27> 1921 - The banks'reserve ratio shows a further rise for the week from 62»5 63»4 per cent. Reserve bank holdings of bills secured by Government obligations show a decrease of $18,300,000, other discounted paper on hand declined by $17,400,000, while holdings of acceptances purchased in open market fell off $4,500,000, reaching the low level of $19,400,000- There is also shown a reduction of $1,500,000 in the amount of "Pittman" certi- ficates held, and of $2,000,000 in the amount of other Treasury certi- ficates. The combined result of these changes is seen in a reduction of $44,800,000 in total earning assets, which totaled $1,919,400,000 on July 27, a decrease of over 40 per cent since the close of last year. Of the total! holdings of $591>500,000 of paper secured by United States Government obligations, $4o6,100,000, or 68-7 P er cent, were se- cured by Liberty and other United States bonds, $154,9^0,000, or 2b.2 per cent, - by Victory notes, $3,200,000, or .5 P er cent, ""/by Treasury notes, and $27,300,000, or 4.6 per cent, - by Treasury certificates, compared with $396i500,000, $161,400*000, $3>COO,000, and $48»9 0, shown the week "before* Discounted bills held by the Boston, New York and Cleveland banks include $61,400,000 of bills discounted by the Richmond, Atlanta, Minneapolis and Dallas banks. The Richmond bank reports an increase of its accommodation at the New York bank from $19,500,000 to $24,400,000- The Minneapolis bank increased its rediscounts with the New York banK from $12,000,000 to $13,800,000. The Dallas bank increased its redis- counts from $18,300,000 to $19,100,000, and the Atlanta bank obtained during the week a total of $4,000,000 of accommodation fron the Boston and Cleveland "banks* As against a decrease of $3,300,000 in Government deposits, members' reserve deposits show an increase of $8,500,000 for the week, and all other deposits, including non-members' clearing accounts and cashier s checks, - a decrease of $2,900,000- In addition to the decrease of $26,900,000 in Federal reserve notes, there is also shown a reductio of $2,700,000 in Federal reserve bank note circulation.
image-container-1 Released for publication Friday morning, July 29, 1921; not earlier. St.2162a. RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED. (In thousands of dollars) RESOURCES ^ „ July 27, 1921 July 20, 1921 July 30,192') Gold and gold certificates . . ... . . 389,bb$ 3bS,448 174,179 Gold settlement fund - F.R.Board .... U19,74l 404,005 389,389 Gold with foreign agencies ....... - - Hl'%^- Total gold held by banks ...... 809,406 772,453 675,099 Gold with Federal Reserve Agents .... 1,6l6,28J 1,624,332 1,153,712 Gold redemption fund 105,538 HI,513 148,893 Total gold reserves 2,531,231 2,508,298 1,977,704 Legal tender notes, silver, etc 154,065 1 51,068 1 50,936 Total reserves ..... 2,685,296 2,659,366 2,128,640 Bills discounted: <2 /j"" Sec. by U.S. Government obligations. . 591,456™" 609,779 1,241,017 All other . 1,059,64#-^ 1,076,370 1,250,613 Bills bought in open market 19> 424 23,907 345,305 Total bills on hand ......... 1,669,920 1,710,056 2,836,935 U. S. bonds and notes 3^,175 35,407 26,860 U. S. Certificates of indebtedness: One-year certificates (Pittman Act). . 214,375 215,875 259,375 All other m 2,892 39,145 Total earning assets . 1,919,^08 1,964,230 3,162,315 Bank premises 25,846 25,762 14,289 5$ Redemption fund against , . F. R. Bank notes ......... t . 9,666 9,95^ 12,684 Uncollected items • - • 494,948 5UU,655 709,949 All other resources .... 15,046 12,712 4,892 TOTAL RESOURCES • - • • 5,150,210 5,216,679 6,032,769 LIABILITI E S Capital paid in 102,263 102,222 95,225 Surplus ...... 213,824 213,824 164,745 Reserved for Gov't, franchise tax . . . .45,503 44,231 — Deposits: • , Government .............. 31,709 • 34,967 ^ I Member bank - reserve account .... 1,638,637 1,630,196 1,808,156 All other 24,928 27,856 51,296 Total deposits ........... 1,695,274 1,693,019 1,871,619 F.R. notes in actual circulation .... 2,537,617 2,564,512 3,120,138 F.R. Bank notes in circulation - . net liability. 125,143 127,875 192,168 Deferred availability items 413,037 ^53*5^3 536,690 All other liabilities 17,549 17,453 52'# TOTAL LIABILITIES • 5,150,210 5,216,679 6,032,769 Ratio of total reserves to deposit and ' " F.R. note liabilities combined .... 63',4% ,62• 5% *44.2jo Ratio of gold reserves to F.R. notes in circulation after setting aside , . 35$ against deposit liabilities ... 82*4^ 80-6y> *49.2^ Calculated on basis of net deposits and F.R. notes m circulation.
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Date: 1921-07-29
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