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STATEMENT FOR THE PI2SS Released for publication Friday morning, June l6; not earlier, S t. 2836. Federal Reserve Board, June 15, 1922. CONDITION OF FEDERAL RESERVE BANKS. Aggregate reductions of $6 ,6 0 0 ,0 0 0 in discounted b ills and of $12,200,000 in purchased acceptances, as against an increase of $1 1 ,8 00 ,0 0 0 in United States securities, are shown in the Federal Reserve Board's weekly bank statement issued as at close of business on June lU, 1922. Gold holdings of the reserve banks declined by $ 2 , 300, 000, while other cash reserves, i. e ., silver and legals, show an increase of $4 ,7 0 0,00 0 for the week. Government deposits are shown $33*700,000 larger than the week before, while members* reserve and other deposits were $ 1 ,6 0 0 ,0 0 0 less. Federal reserve note circulation declined by $1 8 ,9 0 0 ,0 0 0 , the June lH total of $2 ,1 2 2 ,6 0 0 ,0 0 0 constituting a new low record for the year. All Federal reserve banks, ex cept the Cleveland bank, report smaller circulation figures than the week before. Net lia b ilities of the reserve banks on Federal reserve bank notes in circulation declined by $3 ,8 0 0 ,0 0 0 , the new total of $6 8 ,0 00 ,0 0 0 like wise being the lowest on record for the present year. The reserve ratio shows a further decline from 77-6 to 7 7 Per cent. Interbank shifting of credits in the gold settlement fund is largely responsible for the decreases of $36,3 00 ,0 0 0 and of $ 7 , 300,000 in the gold reserves of the Few York and St, Louis banks. Smaller decreases aggregat ing $ 8 ,1 0 0,00 0 are shown in the gold reserves of the San Francisco, Atlanta’ and Dallas banks. Chicago reports the largest increase in gold reserves for the week, by $ 1 8 ,7 0 0 ,0 0 0 , followed by Boston with an increase of over $8 ,0 0 0,00 0 and Kansas City and Philadelphia - with an increase of $6 ,9 0 0,00 0 each. Smaller increases aggregating $8 ,9 0 0,00 0 are shown for the Cleveland, Minneapolis and Richmond banks. Holdings of paper secured by Government obligations show a further decrease for the week from $148,900,000 to $ l 4 o ,600,000. Of the total held $116,100,000, or 8 2 .6 per cent, were secured by Liberty and other U. S. bonds, $7 ,7 0 0 ,0 0 0 , or 5 ,5 per cent, - by Victory notes, $1 0 ,8 0 0 ,0 0 0 , or 7 .7 per cent, - by Treasury notes and $6 ,0 0 0 ,0 0 0 , or 4 .2 per cent, - by Treasury certificates, compared with $ 12 2 , 300, 000, $7>700,000, $1 1 ,1 00 ,0 0 0 and $7,800,000 reported the week before. A summary of changes in the principal asset and liability items of the reserve banks, as compared with a week and a year ago, follows; Increase or Decrease In millions of dollars since June 7, 1922 June 15. 1921 Total reserves Gold reserves Inc, Dec. 2 ,4 2 .3 Inc. Inc. Total earning assets Dec. 7 ,0 Dec. 1 , 1 5 1 .6 6 ,6 Dec. Dec. 8 .3 Inc, 1 .7 Dec. 12 .2 Inc, 1 1 .8 Dec. 5 .5 Dec. 1 .5 Inc. 1 8 .8 Dec. 1 ,2 9 4 .1 Dec. 523J Dec. 770. k Inc. 7 0 .8 Inc. 71.7 203.2 Inc. 11+6,9 Dec, Inc. 15.4 Total deposits Members’ reserve deposits Government deposits Other deposits Inc. 3 2 .1 Dec, 2 .5 Inc, 33-7 Inc. •9 Dec, Dec. Inc. Dec. ,2 U5.0 58.7 13.9 Federal reserve notes in circulation F, R, Bank notes in circulation, net liability Dec. 18.9 3 .8 Dec, Dec. Dec. 551.8 Discounted b ills , total Secured by U. S. Government obligations All other Purchased b ills United States securities, total Bonds and notes Pittman certificates Other Treasury certificates 520.9 562.2 6 7.1 Released for publication Friday morning, June l 6 , 1922; not earlier. RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS St.2536a. COMBINED. (In thousands of dollars) B E S 0 U B C E S .T n h e ■ Gol'd and gold c e r t i f i c a t e s ............... ... . Gold settlement fund - F. B. Board . . . Tnt.al sold held by b a n k s ....................... G o ld w it h Federal Reserve Agents . . . 1922 lU . "uS 435 . J jS S - iS ^ ^ 50 4,70 7 323.745 ?nk *)02,2m 3 H »017 456.211 _2^__ S2 1 .1 U2 S25 ,9“ 9 767,22 2 ,l U 2 ,1 1 2 2 , 1 c f 'g g i ' 127'. 5 3 3 Gold redemption f u n d .................................. - J M i - ^ Total gold r e s e r v e s ...............................^ Legal tender notes, silv e r , e t c ..................... ■■1 2 g > -— l o t a l j s s i m t ................... : • • • 3 .1 3 6 .W — 12^ ^ ~ 2 .& 5 .S * l4g q49 664,296 1.043.3S3 53.200 . ,,7Q 1 .7 & .C T 9 B ills discounted: Sec. by U .S . Government obligations. All o t h e r .................................................. B ills bought in open m a r k e t ................... ..... Total b ills on h a n d ............................... g 1 4 0 ,b39 2 7 1 ’ 305 537,592 -- " 7 ~ 556,*37 u. 2 3 S .3 0 S 2 U J .7 7 5 S. U. S. b o n is and One- year AT 1 notes C e rtific a te s of .......................................... c e rtific a te s (P it t m a n A c t ). . pqy’ i m 4 i •i-U - earain* a s s e t s ............ 1 ,157,275 „1 2 B a lfc p r e m i s e s “1.07“ ................................................................ 5$ Redemption fund against F. H. Bank n o t e s .................... U nco llected 35,066 222 375 in d e b te d n e ss: n+ViPT L i 3.13U .066 7,639 i t e m s .................................................... ,M p q All other r e s o u r c e s .............................................§0*522.— TOTAL R E S O U R C E S .......................• *+,998,027 ..... 300’.513 7 ..(.O .---- M 7 “,313 2.31M33 ^ ^ 10 iyg ^ 7,513 Z O .i& i - 4 ,9 0 3, 1 5 .3 3 S ' u i~ 5,7 , L I A B I L I T I E S „ 1 ^ • Capital paid xn • ‘ | | Reserved for Gov't, franchise tax B^ ™ t [ 104.579 215,395 . . . .................................................................... , 104,559 .215,398 102,156 2,231 2 »2°7 39,057 7 3 ,2 7 3 3 9 ,5 7 “ £ .5 9 7 Member bank - reserve account . . . . 1 ,521,450 1 *823,?6l All o t h e r ............................................................ ---------- ^ ^ 5 Total d e p o s i t s ...................................... F. R. notes in actual circulation " i t . . . 1 ,5 9 6 ,9 9 0 1,929,2?-,' 2 ,1 2 2 ,6 1 0 • 2,14 1,53 1 2 , 074,435 71,312 135,050 u r . . . 65,000 SJS.Uft Deferred availability i t e m s ................... All other lia b ilities . ........................... .......... § 0 *4 ^ . ........................... 4 ,9 9 5 ,0 2 7 Ratio of total reserves to deposit and F. R. note liabilities combined . . - > -- 1 ,9 2 9,03 6 S TOTAL LIABILITIES 202,036 “50,^7 -- 4 ,9 0 3 ,4 6 5 5,707,179 ■_ 77*4$ 59 ,207 -- 20*12+ 1 1-o jo , 5b . 8/o S t . 2836b. Released t o , S S S ’« Boston„ ew York Federal Beserve Bank Gold and gold certificates 1 Gold settlement fund - F B. Total gold held by banks , 5 Board Gold with I . E. Agents Total B ills A ll B ills bought in b ills on F. A li l 3 ^ 11sU u s l0 1 0 3 4S7 135.216 U82.S05 3 ,5 7 1 4 ,0 0 0 4 ,164 * ,3 2 1 1,900 16,366 3,560 ite m s 1,028 9o225_ 500 123.975 7 5 ,5 0 0 5,332 317 _ . 2 i5J Z 5 59,897 *0,957 64,422 7 ,5*3 921 914 * ,9 7 5 2,091 1,150 41,074 462 708 2,023 351 916 146 279 7,639 5 3 ,1 * 6 23,6 90 76,073 33,715 15,238 38,703 22,924 *2,357 624,732 17 L 169 807 1,395 1,0 0 1 1 ,841 38,621 159,363 9 3 ,8 3 * 131,5*8 4 7 ,6 32 600 5,266 2 ,5 7 1 1,352 899 700 539 128 139,572 55,304 62,044 4,665 718 1 ,7 5 * 1.041 ----- -— — 48,724 255,008 3 , 136,478 8,667 5 6 ,16 1 6,000 61,960 128.681* 6,699 6,000 2.570 422 90,8 40 5.843 238,308 1 9 ,5 00 133.025 a g a in st 68,569 5.9 2 8 54,400 > 5,950 LlQ 47S fund 873 5 .48 4 2 ,8 1 6 1,233 8 ,*70 85,356 42,796 249.165 3,007,79“ 28,299 23,553 5 ,2 15 2 ,8 0 0---44,554 8,111 51,*47 273,1*7 90,858 1 .2 (8 _______I , ? ? ! 11,6 6 8 4,573 27,124 notes 100,740 l 6 .665 67,696 50,129 821,142 ^ >y6 ^ 24,956 42,8 39 assets 7M93 21 ,4 05 ^ 128 55,383 4 3 .0 41 34.821 35.695 } ? 316,>*35 30,93S 537,592 61,711 Ac ^ 1 .iw 6 1.5U0 9 .2 1 8 19,197 33,233 .. 1,8.187 58,788 69,175 (P it t m a n 8 .3 9 * 26,1*57 69,579 40,739 30,766 hand in d e b te d n e ss . >*.073 4,55>* Total 1 * 0,639 272,978 12.882 of do llars) 5,305 36,719 16,764 811 open m arket of 1 ,704 1 ,372 2,739 6,430 12,265 22,978 19,833 29,908 .... i . ...1 .J 8 1 . S , 52L_ 28,292 24,682 22,577 33,061 2 6 ,7 11 o ther r esources otner resouri/c» fioT A L ^ U S 5W 39,612 Bank notes U nco llected 7 ^ ,^ 31 7 a 17,025 p re m ises R. 8 04,541 1 5 0 ,4 » ” 2 251 3 ,2 * * other fy'jb R e d e m p t i o n 133,661 127 1 4 ,1 5 6 27,8 53 830 o b lig atio n s c e rtific a te s ea rn in g » 22,002 18,832 14.549 C ertificate s Total g ’% 3 *6 * . £3,251 91.708 32,567 9 ,2 2 7 19.857 S. A ll jg .g l 5,558 S 25,799 16,932 26,438 bonds One- year and 3^ 2 ,2 3 6 12,042 20 U6l U .S .G o v t , S. Bank etc. other Total U. s ilv e r, disco u n te d : by 3 096 9 ». Chicago St.Louis H i m . Kans.Cy. Dallas San Fran. , » . . J ♦^ 1 » » *^ >........ ............. ..... .......... .... . , a ? i cJLZ194,079 1 , 165,325 228,883 24 0,15 * 111,152 1*1,369 5 0 1 ,5 H reserves Secured U. notes, ^ Bich. Atlanta 17«.«5 Total gold reserves tender , \ ,979 Gold redemption fund Legal F n U a . cleve. ^ 3 AT 0108. OF B U S I E S , * » « V -£ £ ■ (I n thousands i,?I 9_ 38,277 118,837 1 , 167,275 5,422 .. . 20,823 161 457 1 592 084 380,039 441,305 2 1 M 7 2 205.675 7**7.037 188,221 1 2 7 ,“ 2** 200.857 l l 1* ,003 423,053 >*,998.027 RESOURCES >v}>*Ot Beleased for publication, Friday morning, June 16, 1922; not earlier. Federal Reserve Bank Capital paid in Surplus Reserved for Govt, 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 Ratio of total reserves to deposit and F .R , note liabilities combined, per cent ! Boston 7 ,9 8 1 , 16,483 239 S t. 2836c. Minn. Kans.Cy, D allas San Fran. 4,192 7 ,3 9 4 - Tota, 2 3 ,568 7 ,468 363 4 ,6 2 0 9 ,6 4 6 273 9 ,2 8 4 5,147 48,052 256,592 411 1,780 2 ,7 9 1 64,527 531 3,639 45,561 309 2 ,7 7 6 76,999 388 7 ,7 6 8 2,792 46,290 121,201 134 13,622 53,610 267,656 8 4 ,4 9 4 114,848 360,188 67,849 68,6 94 49,509 80,163 49,216 45,933 57,758 25,906 217,233 7,968 63,697 3 ,9 4 3 3,348 33,297 935 3,316 8,473 39,05S 866 22,814 35,41.7 1,750 1,6 76 68,000 535,464 20,409 363,457 1,5 9 2,05 4 3 S0.039 441,305 214,272 205,675 747,037 185,221 127,424 200,857 114,003 *423.053 4 ,9 98,027 3,127 125,860 413 129,400 151,564 5.656 50,943 1,191 6 9.1 Contingent l ia b il it y on b ills purchased fo r fo r e ig n correspondents (in thousands of d o lla r s ) L I A B I L I TI ES New York P h ila . Cleve. Rich, A tla n ta Chicago S t.L o u is 2 ,5 14 i 11,603 5,542 22,509 - 11,030 4,440 18,349 6,463 732,835 107,305 141,053 1 ,171 1,349 13,956 6,697 55,175 765,140 112 ,9 16 145,865 6 2 ,12 1 27,480 60,197 229 8 ,991 17,945 224 616,159 .178,776 198,057 14,094 104,408 4,377 84.4 12,75S 5,633 54,427 1,127 78 .5 2 ,7 5 6 5,489 53,052 1,730 69.2 2 ,8 2 4 389 249 4,271 9 ,1 1 4 412 2,869 4 ,949 47,523 904 17,626 75.S 1,688 845 83,9 1,2*40 14,560 29,025 4 ,708 9 ,388 - 79.9 4,099 66.5 1,6 19 13,202 1,065 69 ,7 930 '1 . 65.9 1,653 2 ,7 3 1 6 4 .9 896 7,363 15,199 100 142,591 3 ,4 7 4 7 0.9 104,879 215,398 2 ,2 3 1 73,273 1,8 2 1,4 5 0 34,313 1 ,929,036 2 , 122,610 7 7 .4 1 ,5 8 4 3^,561 2 ,5 1 8 ,7 9 9 396,189 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION i F. R. notes outstanding F, R. notes held by banks 164,719 13A55 837,752 202,182 218,485 221,593 23,1406 2 0,428 90 ,6 52 120,362 403,111 6,158 5,514 42,923 82,815 5 1 , 4oi 69,020 14,121 2 ,4 6 8 11,262 28,950 249,350 3 ,0 4 4 3 2 ,117 F. R. notes in actual circulation 151,564 616,159 178,776 198,057 8 4 ,4 9 4 114,848 360,188 68,694 48,933 57.75S 2 5 , 9 0 6 2 17 ,2 3 3 2 , 122,610 B ills discounted B ills bought in open market U. S. Certificates of indebtedness DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES 6l to 90 days Over 90 days Within 15 days l6 to 30 days 31 to 60 days 44,112 50,987 210,195 46,370 61,953 2 5 ,5 6 4 5,036 2 7 ,4 5 4 29,269 36,652 3,9 0 0 285,452 69,306 1,000 31,717 Total 413,617 123,975 391,375 S4-. 2336d. Released for publication Friday morning, June l6 , 1922; not earlier. FEDERAL RESERVE AGENTS* ACCOUNTS AT CLOSE OF BUSINESS, JUNE 14, 1922. (In thousands of dollars) F e d e r a l R eserve Agent at Boston New York Phila. Cleve. Rich. Atlanta St.Louis Minn. Kans.Cy. Chi< R E S O U R C E S Federal Reserve notes on hand Federal Reserve notes outstanding 101,050 164,719 Collateral security for Federal Reserve notes outstanding: Gold and gold certificates Sid S ^ - T R ^ a r d 5,300 IM.oS 271,150 *+3,920 2 8,440 237,752 202,122 218,485 363 ,124 - t o l o w l3V J s 9 lUj'.OOO 52J95 h Eligible paper - t a iheld d Excess S amount 39 :”l - ”’ .351 3:937 1*6 ,1*73 7.739 34,069 8.666 19,953 56,730 28,950 249,350 ; 23,450 12 ,16 5 19,3 00 82,815 51,4oi 69,020 11,210 11,2 J-,c10u 3,100 13,052 13,052 ^ 2,283 9*!000 3* 6 ',6*5 49,800 16,000 _ 4 ,023 4 4 ,3 6 0 _ 18,396 1 0 ,0 0 0 ,1 7 7 ,2 4 0 17.991 *0.675 1 2 ,£ 1 9 28 ,90*. 12,705 20,066 9,526 4 ,292 20,637 1,939 8 ,9 5 0 1 53,114 24,OS o 5 ,520 3 2 ,g > 6 7 ,U g 90, 5^ 1 »3 13,275 San Fran D allas 84 2 ^ Q0 7 ,7 0 11 -----2,299 4 1 6,122 440,129 1 , 978,005 452,221 473,139 222,660 320,772 9 19,746 192,666 119,259 159,279 10 1 »93| 561,010 5 , 9 ^ 6 , 88^ TOTAL fa . l i a b i l i t i e s Net am ount of Federal Reserve wollercflhe SSency'” 265,769 1 .108.902 2* 6 ,10 2 2 * 6 ,525 123.3*2 187,791 *87.731 106,265 63.566 85,320 *8,903 306,080 3.279,696 U3 e rr aa ll C oilla l l a tt e r ce d ffrom re ec e iv iv e ed rom 1 F e d e r a l R eserve B a n k : E l***i gfTVi b l e ^ er p aJ pUe r TOTAL 40:739 1 —1 ...... S :562 "'I ^684 172.007 54^7 £ \ 56,583 102,371 362,436 42,735 30,610 V . 5 7 9 64,110 28,291 31,335 24,352 *+8,383 22,576 20,000/’196,236 2,142,118^ 3 3 , 0 ^ 58 , 694 525 , ^ ■ 440,189 1 , 978,005 452,221 473,139 222,660 320,772 919,746 198,666 119,259 159,279 101,93^ 561,010 5 , 9^ 6 , 88^
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