The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
STATEMENT FOR THE PRESS Released f o r p u b l i c a t i o n St«2l62 Friday morning, July 29; Federal Reserve Board not e a r l i e r . July 28, 1921• CONDITION OF FEDERAL RESERVE BANES Aggregate gains of $22,900,000 i n gold and of $3,000,000 i n other cash r e s e r v e s , accompanied by a reduction of $26,900,000 i n Federal r e s e r v e note c i r c u l a t i o n and an i n c r e a s e of $2,300,000 i n d e p o s i t l i a b i l i t i e s , a r e i n d i c a t e d i n the Federal Reserve Board's weekly bank s t a t e ment i s s u e d a s a t c l o s e of business on July 27> 1921 - The banks'reserve r a t i o shows a f u r t h e r r i s e f o r the week from 62»5 63»4 per c e n t . Reserve bank holdings of b i l l s secured by Government o b l i g a t i o n s show a decrease of $18,300,000, other discounted paper on hand declined by $17,400,000, while holdings of acceptances purchased i n open market f e l l off $4,500,000, reaching the low l e v e l of $19,400,000- There i s a l s o shown a r e d u c t i o n of $1,500,000 i n the amount of "Pittman" c e r t i f i c a t e s held, and of $2,000,000 i n the amount of other Treasury c e r t i f i c a t e s . The combined r e s u l t of these changes i s seen i n a reduction of $44,800,000 i n t o t a l earning a s s e t s , which t o t a l e d $1,919,400,000 on J u l y 27, a decrease of over 40 per cent since the close of l a s t year. Of the total! holdings of $591>500,000 of paper secured by United S t a t e s Government o b l i g a t i o n s , $4o6,100,000, or 68-7 P e r cent, were secured by L i b e r t y and other United S t a t e s bonds, $154,9^0,000, or 2b.2 per cent, - by Victory notes, $3,200,000, or .5 P e r cent, ""/by Treasury n o t e s , and $27,300,000, or 4 . 6 per cent, - by Treasury c e r t i f i c a t e s , compared with $396i500,000, $161,400*000, $3>COO,000, and $48»9 0, shown the week "before* Discounted b i l l s held by the Boston, New York and Cleveland banks include $61,400,000 of b i l l s discounted by the Richmond, A t l a n t a , Minneapolis and Dallas banks. The Richmond bank r e p o r t s an i n c r e a s e of i t s accommodation a t the New York bank from $19,500,000 to $24,400,000The Minneapolis bank increased i t s rediscounts with the New York banK from $12,000,000 t o $13,800,000. The Dallas bank increased i t s r e d i s counts from $18,300,000 to $19,100,000, and the A t l a n t a bank obtained during the week a t o t a l of $4,000,000 of accommodation f r o n the Boston and Cleveland "banks* As a g a i n s t a decrease of $3,300,000 i n Government d e p o s i t s , members' reserve d e p o s i t s show an i n c r e a s e of $8,500,000 f o r the week, and a l l other d e p o s i t s , including non-members' c l e a r i n g accounts and c a s h i e r s checks, - a decrease of $2,900,000- In a d d i t i o n to the decrease of $26,900,000 i n Federal r e s e r v e n o t e s , there i s a l s o shown a r e d u c t i o of $2,700,000 i n Federal reserve bank note c i r c u l a t i o n . Released f o r p u b l i c a t i o n Friday morning, July 29, 1921; not e a r l i e r . St.2162a. RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED. (In thousands of d o l l a r s ) R E S O U R C E S Gold and gold c e r t i f i c a t e s . . . . . . . Gold settlement fund - F.R.Board . . . . Gold with f o r e i g n agencies . . . . . . . Total gold held by banks . . . . . . Gold with Federal Reserve Agents . . . . Gold redemption fund Total gold reserves Legal tender notes, s i l v e r , e t c Total reserves . . . . . B i l l s discounted: Sec. by U.S. Government o b l i g a t i o n s . . All other . B i l l s bought i n open market Total b i l l s on hand . . . . . . . . . U. S. bonds and notes U. S. C e r t i f i c a t e s of indebtedness: One-year c e r t i f i c a t e s (Pittman Act). . All other Total earning a s s e t s . Bank premises 5$ Redemption fund a g a i n s t F. R. Bank notes . . . . . . . . . t . Uncollected items • - • All other resources . . . . TOTAL RESOURCES • - • • L I A B I L I T I E S Capital paid i n Surplus . . . . . . Reserved f o r Gov't, f r a n c h i s e t a x . . . Deposits: Government . . . . . . . . . . . . . . Member bank - reserve account . . . . All other Total deposits . . . . . . . . . . . F.R. notes in a c t u a l c i r c u l a t i o n . . . . F.R. Bank notes i n c i r c u l a t i o n net l i a b i l i t y . Deferred a v a i l a b i l i t y items All other l i a b i l i t i e s TOTAL LIABILITIES • July 27, 1921 July 20, 1921 389,bb$ 3bS,448 U19,74l 404,005 809,406 772,453 1,6l6,28J 1,624,332 105,538 HI,513 2,531,231 2,508,298 154,065 1 51,068 2,685,296 2,659,366 <2 /j"" 591,456™" 609,779 1 , 0 5 9 , 6 4 # - ^ 1,076,370 19> 424 23,907 1,669,920 1,710,056 3^,175 35,407 214,375 m 1,919,^08 25,846 9,666 494,948 15,046 5,150,210 102,263 213,824 .45,503 ^ 1,241,017 1,250,613 345,305 2,836,935 26,860 215,875 2,892 1,964,230 25,762 , 9,95^ 5UU,655 12,712 5,216,679 259,375 39,145 3,162,315 14,289 . 12,684 709,949 4,892 6,032,769 102,222 213,824 44,231 • 34,967 1,630,196 27,856 1,693,019 2,564,512 125,143 413,037 17,549 127,875 ^53*5^3 17,453 95,225 164,745 — , ^ I 1,808,156 51,296 1,871,619 3,120,138 . 192,168 536,690 52'# 5,150,210 5,216,679 6,032,769 31,709 • 1,638,637 24,928 1,695,274 2,537,617 Ratio of t o t a l r e s e r v e s to deposit and '" F.R. note l i a b i l i t i e s combined . . . . 63',4% ,62• 5% *44.2jo Ratio of gold reserves to F.R. notes in c i r c u l a t i o n a f t e r s e t t i n g aside , . 35$ against deposit l i a b i l i t i e s . . . 82*4^ 80-6y> *49.2^ C a l c u l a t e d on b a s i s of net deposits and F.R. notes m c i r c u l a t i o n . „ J u l y 30,192') 174,179 389,389 Hl'%^675,099 1,153,712 148,893 1,977,704 1 50,936 2,128,640 Released f o r p u b l i c a t i o n F r i d a y morning, July 29, 1921; not e a r l i e r . RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS RESOURCES Federal Reserve Bank of Boston New York Phi la* Clevel, Richm. A t l a n t a Chicago Gold and gold c e r t i f i c a t e s 7,996 301.637 2,052 6,340 2,689 4,739 21,171 Gold settlement fund - F.R. Board ),26c 66.335 49,104 49,146 22,795 7,038 100.38< Total gold held "by "banks 43,261 367,972 51,156 55,486 25,484 11,777121,560 Gold with F. R. Agents 190,686 488,336 142,322 183,861 37,708 51,683 246,153 Gold redemption fund 24,4i6 20,000 8,171 4,420 6,399 5,427 17,182 Total gold r e s e r v e s 258,363 876,308 201,649 243,767 69,591 68,887 384,895 Legal tender n o t e s , s i l v e r , e t c . 17,307 71,199 4,568 5,775 3,834 7,330 16,36'. Total r e s e r v e s 275.670 947,507 206,217 249,542 73,425 76,217 401,260 B i l l s discounted: (a) Secured by U.S. Govt, o b l i g a t i o n s 33,409 171,262 85,709 47,526725,366 34,913 90,469 All other 44,818 232,754 33,389 96T945 73,866 64,930 189,143 B i l l s bought i n open market 4,926 2.018 1,105 1,225 2,014 1,317 3,280 Total b i l l s on hand 83,153 406,034 120,203 145,696 101,246 101,160 282,892 U. S. bonds and notes 555 1,005 1,547 844 1,233 10,138 4,490 U-. S» C e r t i f i c a t e s of indebtedness. One-year c e r t i f i c a t e s ( P i t W a n Act) 18,936 52,276 26,780 21,799 21,799. 7,260 14,564 35,112 All o t h e r 4 26 1 87 Total earning a s s e t s 103,249 459,315 148,534 168,365 109,739 125,863 322,581 Bank premises 3,849 5,381 529 2,326 2,220 738 4,124 5$ Redemption fund a g a i n s t F . R. Bank notes 1,770 Uncollected It&ns 41,282 112,713 38,731 17,551 A l l o t h e r resources TOTAL RESOURCES (a) Includes b i l l s discounted f o r o t h e r F. R. Banks, v i z : JULY 27, 1921. st.2162b. (In thousands of d o l l a r s ) St.Louis Minn. Kans.Cy. Dallas San Fran. Total 2,893 8,529 2,185 8,908 20,526 389,665 16,969 8,319 35,867 2.568 25,946 419,741 19,862 16,848 38,052 11,476 46,472 809,406 51,160 19,620 32,847 13,366 158,545 1,616,287 3*545 2,128 3,141 2.703 8,006 105,538 74,567 38,596 74,040 27,545 213,023 2,531,231 13,01 780 3,579 6.871 ,422 154.06c 87,602 39,376 77,619 34,416 216,445 2,685,296 30,901 50,404 230 81,535 1,185 11,568 6,410 21,962 64,289 53,112 - 959 6,071 37,452 591,% ,, 51,549 103,847 1,059,0ke^ s i 100 2,250 iq.4?4 70,699 76,033 57,720 143,549 1,669,920 116 8,868 3,979 #15 34,175 J 1 94,379 5,480 109 76,404 93,236 627 655 2,890 25,675 13,488 37,394 8,320 15. 2,4oo 9,880 214,375 938 64,099 153,644 1,919,408 1,921 586 25,846 23,403 30,630 494^948 425,244 1,529,484 401,265 470,564 224,826 221,729 792,4o4 209,410 130,878 212,590 126,047 405,769 5,150,210 16,136 38,284 7,007 61,427 R e l e a s e d f o r p u b l i c a t i o n F r i d a y morning, J u l y 29, 1921; not e a r l i e r , RESOURCES AND-LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JULY 27, 1921 S t . 2162c ( I n thousands of d o l l a r s ) L I A B I L I T I E S . Boston New York P h i l a . C l e v e l . Richru. A t l a n t a Chicago St,Louis Minn, Kans.Cy. D a l l a s San Fran. F e d e r a l Reserve Batik To t a l 8,622 11,045 26,874 C a p i t a l paid, i n 7,911 4 , i o i 14,263 4,542 5,378 4,340 4,2a 3,548 7,418 102,263 16,342 Surplus 59,318 17,564 22,263 11,026 8,708 30,536 9,114 7,303 9,330 7,113 15,207 213,824 18,181 R e s e r v e d f o r Govt, f r a n c h i s e tax 2,377 2,932 1,976 1,879 2,858 8,736 1,085 1,486 1,736 2,257 45,503 Deposits: 2,138 Government . 8,065 3,856 1,164 2,052 1,642 1,731 2,868 1,717 2,091 , 1,520 2,815 . . , 31,709 108,748 Member bank - r e s e r v e account 649,184 97,819 133,071 52,216 41,996 234,906 60,672 42,225 67,090 40,935 109,775 1,638,637 828 All other 1.016 718 11.291 426 J50_ .219 2,552. 493, 470 5.412 24,A28 3§L Total deposits 111,764 668,540 102,691 134,953 54,694 44,106 240,326 63,139 44,366 69,768 42,925 118,002 1,695,274 F, R, l i o t e s i n a c t u a l c i r c u l a t i o n 242,464 6 4 3 , 8 7 5 2 1 9 , 3 4 1 2 4 3 , 5 2 7 1 1 3 , 2 5 4 1 3 8 , 6 7 0 4 3 3 , 6 1 3 99,274 56,382 75,431 42,323 229,463 2,537,617 F . R, Bank n o t e s i n c i r c u l a t i o n net l i a b i l i t y 8,153 29,752 8,59s l 4 , 6 o o 5,315 8,694 14,247 6,035 4,998 14,459 4,084 6,iltg 125,143 D e f e r r e d a v a i l a b i l i t y items 35,281 79,375 40,750 41,275 32,268 13,812 47,652 25,207 11,562 36,308 24,098 25,449 413,037 All other l i a b i l i t i e s 952 .,3,569 767 925 1,012 780 3,031 954 1,233 1,218 1,283 1,825 17,54q TOTAL LIABILITIES 425,244 1,529,484 401,265 470,564 224,826 221,729 792,404 209,410 130,878 212,590 126,047 405,769 5,150,210 MEMORANDA R a t i o of t o t a l r e s e r v e s to deposit and F,R, n o t e l i a b i l i t i e s combined, p e r cent 77-8 72.2 64.0 65.9 43.7 41.7 55.5 53.9 39-1 53.5 4o,4 62.3 63.4 Contingent l i a b i l i t y as endorser on d i s c o u n t e d paper r e d i s c o u n t e d w i t h o t h e r F, R, Banks 24,435 4,007 13,849 19,136 61,427 Contingent l i a b i l i t y on b i l l s purchased f o r f o r e i g n correspondents 4,109 20,926 4 , 5 0 3 4,6i6 2,758 2,026 6,698 2,646 1,520 2,702 1,464 2,589 56,557 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F» R„ n o t e s o u t s t a n d i n g 258,742 .808,947 2 4 4 , 1 9 0 268,478 1 2 0 , 793 1 4 7 , 6 0 7 482,348 121,144 58,576 83,784 46,023 292,609 2,9 33 , 241 F, R, n o t e s held by banks 16,278 • 165.072 24.849 24,951 7.539 8,937 48,735 21.870 2,194 8,353 3,700 63,146 395,624 F, R. n o t e s i n a c t u a l c i r c u l a t i o n 242,464 643,875 219,34l 243,527 113,254 l 3 8 , 6 7 0 4 3 3 , 6 l 3 99,274 56,382 75>31 42,323 229,463 2,537,617 DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 90 days Total B i l l s discounted 943,79b 156,985 281,629 198,559 69,527 1,650,496 B i l l s bought in open market 9,675 2,951 3,259 3,536 3 19,424 U, S, C e r t i f i c a t e s of indebtedness 4,700 10,245 34,317 25,742 140,309 215,313 Released f o r p u b l i c a t i o n Friday morning, July 29, 1921; not e a r l i e r . FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS JULY 27, 1921. Federal Reserve Agent a t Boston New York Phila. (In thousands of d o l l a r s ) Clevel. Richm. Atlanta Chicago St.Louis St.2l62d. Minn. Kans-Cy. Dallas San Fran. Total RESOURCES 259,200 96,730 Federal Reserve notes on hand 808,94? Federal Reserve notes outstanding 252,742 C o l l a t e r a l s e c u r i t y f o r Federal Reserve n o t e s outstanding: Gold and gold c e r t i f i c a t e s 5,600 286,924 20,412 15,086 . Gold redemption fund 181,000 Gold settlement fund-F.R.Board 170,000 E l i g i b l e paper 320,611 68,056 Amount required 55,337 Excess amount held j 1 ^ j f w; w ; 15,097 629,311 1,932,431 TOTAL 21,420 45,200 20J269 76,795 244,190 268,478 120,'793 147,607 14,933 23,775 15,086 1,708 3,400 3,283 127,389 145,000 36,000 45,000 101,868 -84,617 83,085 95,924 5,211 J * 9,914 >» 16,090 61,079 ~ \ J * ^ 180,140 29,080 13,435 482,348 121,144. 58,576 6,110 15,50 230,64 3,019 42,031 13,052 2,#8 4,200 5,220 83,784 3,487 29,360 25,562 35,760 808,831 - 344,993 46,023 292,609 2,933,241 6,132 5,000 17,156 117,047 2,234 141,389 1,154,247 50,937 32,657 134,064 1,316,954 25,089 31,388 —' > .• • "2 5 , ,t0.0. . —7,410 , 1 3 0• 9 , ,7 0. . 236,195 69,984 38,956 46,639 11,448 ^•• 519,714 643,235 277,965 377,220 1,191,475 282,816 161,975 197,877 142,£71 628,388 6,985,0.78 L I A B I L I T I E S Net amount of Federal Reserve notes received from Compt r o l l e r of the Currency 355,472 1,068,147 265,610 313,678 141,082 224,402 C o l l a t e r a l r e c e i v e d from Federal Reserve Bank: Gold E l i g i b l e paper TOTAL 19,620 32,847 13,366 158,545 1,616,287 282,834 81,432 70,344 76,026 57,720 141,474 1,626,7)9 83,153 375,948 111,782 145,696 '99,175 101,135 629,311 1,932,431 519,714 643,235 277,965 377,220 1,191,475 282,816 161,975 197,877 142,61* 628,388 6,985,0?# 190,686 488,336 142,322 183,861 ,37,708 51,683 662,488 150,224 72,011 89,004 246,153 5M60 71,585 328,369 3,742,072
@FedFRASER