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STATEMENT FOE THE PEESS Eelsased for publication Friday morning, June 30J not earlier. St.2867Federal Eeserve Board, June 29 , 1922 . CONDITION OF FEDEEAL EESEEVE BANKS. Resumption of borrowings in some volume from the Boston and New reserve banks following the reduction by them of the discount rate from 4-g to U per cent is indicated by the Federal Eeserve Board's weekly bank state ment issued as at close of business on June 28, 1922. Combined holdings of discounted bills reported by the above two banks show an increase of $5 7 , 700 , 000 , as against a further reduction of $ 1 0 , 200,000 in the total holdings of discounted b ills shown for the other ten reserve banks. Accept ances purchased in open market increased by $3 2 ,6 0 0 ,0 0 0 , all the Federal reserve banks, except those at Atlanta and Kansas City, reporting larger holdings of this class of paper than for the previous Wednesday. United States securities on hand increased by $ 1 ,1 0 0 ,0 0 0 , a larger increase of Treasury certificates being offset in part by liquidation of $2,700,000 of United States bonds and notes. Deposit liabilities of the reserve banks, in keeping with the increase in earning assets, show a growth of $ 8U, 900 , 000, Federal reserve note circulation decreased by $ 1 ,9 0 0 ,0 0 0 , while cash re serves show a gain of about $1,0 0 0,00 0 . In consequence of the substantial increase in deposits the reserve ratio shows a decline for the week from 79*1 to 77-5 per cent. Interbank shifting of gold through the gold settlement fund during the week accounts largely for the increase of $18,800,000 in the gold reserves of the New York bank and of $ l U ,700,000 in the combined gold reserves of the Chicago, Cleveland and Bichmond banks. Philadelphia reports the largest decrease of gold reserves, v i z . , by $lU , 900 , 000 , while smaller decreases, totaling $ 1 7 , 700 ,000 , are shown for the remaining seven banks. Holdings of paper secured by Government obligations increased from $lU0,700,000 to $1 8 9 ,80 0 ,0 0 0. Of the total held $1 3 6,10 0 ,0 0 0, or 71.7 per cent, were secured by. Liberty and other U. S. bonds, $ 6 ,1 0 0 ,0 0 0 , or J>.2 per cent, - by Victory notes, $2 9 ,7 0 0 ,0 0 0 , or 15*6 per cent, - by Treasury notes, and $ 1 8 ,0 0 0 ,0 0 0 ,or 9*5 P©? cent, by Treasury certificates, compared with $ llU , 500 , 000, $ 6 , 700 , 000 , $ 1 1 , 700,000 and $7,800,000 reported the week before. A summary of changes in the principal asset and lia b ility items of the reserve banks, as compared with a week and a year ago, follows: Increase or Decrease In millions of dollars since June 21 , 1922 June 29. 1921 Total reserves Gold reserves Inc. Inc. .7 .9 Inc. Inc. 522.9 558-9 Total earning assets Inc. 8 1 .2 Dec. 880.7 Inc. U7 .5 Inc. U9 .2 Dec. 1 .7 Dec. 1 ,3 0 2 .5 Dec. U5 7 .9 Dec. 8UU.6 Inc. 32.6 Inc. 1 .1 Dec. 2 .7 Inc. In c. Inc. Dec. Inc. 122.5 299•3 190.1 1 U1 .9 251.1 Inc. gU .9 Inc. 53.2 Inc. 3 3 . H Dec. 1-7 Inc. inc. IncInc. £53.5 221+.1 2 8 .k 1 .0 Dec. Dec. Dec. Dec. Discounted b i l l s , total Secured by U. S. Government obligations Other bills discounted .Purchased bills United States securities, total Bonds and notes Pittman certificates Other Treasury certificates Total deposits Members' reserve deposits Government deposits Other deposits Federal reserve notes in circulation F. R. Banknotes in circulation, net liability Inc. 3.8 1 .9 .k 51 C .1 6 5 «1 Released for publication Friday morning, June 30, 1522; not earlier. St.2S67. RESOURCES AMD LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED, (In thousands of dollars) R E S O U R C E S June 2 8 . 1922 316,937 Gold and gold certificates . . . . Gold settlement fund - F, R, Board Total gold held by banks . 532,351 849,233 . . June 2 1 . 1922 33S,bl4 531,290 June 29.1921 323,900 407,23^ S49 ,904 731,13^ 2 ,1 2 1 ,6 3 0 42,376 1,597,219 Gold with Federal Reserve Agents Gold redemption fund 2 , 123,373 Total gold reserves . . . . . Legal tender notes, silver, etc. 3 ,0 2 0 ,3 6 3 127,498 3 ,0 1 9 ,9 6 0 127,715 2,461,931 163,527 3 ,1 4 8 ,3 6 6 " 3,147,675 2,625,458 159,909 279,192 154,060 140,713 2 SO, 855 121,467 1,123,301 623,161 5 *3,035 2 2 4 ,6 3 8 ^ 227,37** 3^,5**9 7 4 ,0 0 0 ^ 2 5 7 ,9 6 9 ^ 74,000 254,160 ' 215,375 6 , 90s 2 ,060, >495 Total reserves . . . . . . U 8.207 Bills discounted; Sec. by U.S. Government obligations Other b ills discounted . . . . . . Bills bought in open market . . . . Total b ills on hand U. S. bonds and notes . . . . . . . U. S. Certificates of indebtedness: One-year certificates (Pittman Act) Other certificates . . . . . . . . Total earning assets , . , . Bank p r e m is e s ................. ... % Redemption fund against F. R. J5ank notes Uncollected items ............................... A H other resources TOTAL RESOURCES................... ... 1 , 179,76S ^ 41,56S 1,092,569 4 1 , 36s 133,578 647,761 31,601 1,203,163 24,845 10,042 7,565 520,959 15,672 506,454 14,747 4,891,SOS 5,242,041 105,079 215,393 2,231 202,036 40,910 10,3S3 1 ,312,010 15,352 1,641,156 30.297 32.006 29.230 1,939,276 1,354,399 1,635,733 2 ,1 2 4 ,4 2 2 2 , 126,304 2 , 634,475 7 , 5S7 5H ,571 15. 9SS 4,904,34s - L I A B I L I T I E S Capital paid in .................................... Surplus . . . . . ................................. Reserved for Gov’ t, franchise tax , Deposits: Government Member bank - reserve account . . Other deposits " ' Total deposits . . . . . . . . F. R, notes in actual circulation F. R. Bank notes in circulation net liability ............................... Deferred availability items , . . All other liabilities ................... TOTAL L IA B IL IT IE S ....................... Ratio of total reserves to deposit and F. R. note liabilities combined . 105,078 215,39S 2,281 4 i , s 6 3 5 , 7 , i 9 s o 9 67,259 430,314 20,520 4 ,9 0 4 , o 4S 77.5^ 102,134 67,639 132,400 500,049 412,214 20,659 4 ,b9 l,S 0o 32,034 79. i£ 5,2 4 2,04 1 60, R eleased fo r p u b lic a tio n F rid a y morning, June 30, 1922; not e a r l i e r . St.2867b. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, JUNE 28, 1922. (In thousands of d o lla r s ) RESOURCES Fed eral Reserve Bank of Boston New York P h ila . C leve. Rich. A tla n ta Chicago S t.L o u is Minn. Kans.Cy. D allas San Fran. T otal Gold and g o ld c e r t i f i c a t e s 13,820 207,81+7 5,600 1 3 , 36s 3,229 5,659 24,049 4,215 7,189 2,525 9,753 19,683 316,937 Gold settlem en t fund - F. R. Board m . 25 156,274 42,764 1+5,120 39,655 21,492 89,223 l 6 ,l 45 2 3 ,4o4 27,506 8,205 31,438 5 3 2 ,3 51 T o ta l g o ld h e ld by banks 44,945 364,121 48,364 58,488 42,884 27,151 113,272 20,360 30,593 30,031 17,958 51,121 849,288 Gold w ith F. R. Agents 12?»^70 804,156 153,315 170,010 54,546 101,027 364,604 57,570 30,452 50,937 19,221 188,065 2 ,123,373 Gold redemption fund -g.J.25_____ 5JJL2___ 7,996 2jl82 3,973 1 ,1 19 /1 0,2 90 '1,437 1 ,823 'l,4 7 9 "7 2 6 3 ~,344 ' 481207 T o ta l g o ld reserves 183,140 1 ,173,390 209,675 230,680 101,403 129,297 438,166 79,367 62,868 82,447 37,905 242,530 3 ,020,868 L egal tender n o tes, s i l v e r , e t c . —11 1 9.9,1-- 20>443___ 7,484 10,142 7,298 6,362 20,235 15.651 709 5,04l 6,042 6,100 127,498 T o ta l reserves 195,131 1 , 203,833 217,159 240,822 108,701 135,659 508,401 95,018 63,577 87,488 43,947 2 l+g,630 3 , 148,366 B i l l s discounted: Secured by U .S.G ovt, o b lig a tio n s 12,427 70,233 32,660 23,640 12,544 2,456 14,769 7,576 2,746 2,889 1,220 6,749 189,909 Other b i l l s discounted 14,795 17,607 12,055 13,310 27,700 27,629 42,090 12,011 23,945 18,225 31,536 38,289 279,192 B i l l s bought in open market 24,206 46,226 ^ 1JJ J ... T o ta l b i l l s on hand 51,428 134,066 62,916 53,150 4 i , n 4 30,752 73,177 31,125 26,691 2 1,119 35,632 61,991 623,161 U. S. bonds and notes 66,250 23,564 26,392 4,567 188 1,233 2,816 47 >310 7,355 ll,4ic 224,638 4,751 28,302 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) 5,450 19,500 5,500 5,500 3,560 8,667 4,000 6,699 3,571 1,900 4,321 74,000 5,332 Other c e r t i f i c a t e s 38,501 ...92,730 _3.>805 _ 43,809 4,524 12,993 _ 2,031 41,132 10,207 77S 7.462 ... — 257,969 T lafcAJ.SX.J T o ta l earning a s s e ts 99,946 312,546 95,785 128,851 45,907 39,670 130,331 56,313 39,966 66,735 41,123 122,595 1,179,768 Bank premises 5,248 8,743 600 5,332 1,424 7,552 2,571 928 914 4,976 41,568 2,093 1,187 y p Redemption fund again st F. R. Bank notes 422 700 899 188 468 2,023 539 254 916 146 753 7,587 279 U n co llecte d items 104,799 48,919 4 5,114 51,126 43,360 20,734 65,507 28,091 35,126 A l l other resources TOTAL RESOURCES 636 2,968 _5P7 1,072 ....35.8 166 ..865 562 13,375 18,403 37,017 511,571 1,371 J 5 L . _ 1,228 4,888 _15_..288 350,302 1 , 633,788 359,865 427,742 201,085 198,121 713409 182,935 119 ^ 5 7 195,998 107,550 4i 4,596 4 ,904,848 Released for publication, Friday morning, June 30, 1922; not earlier. RESOURCES AND L IA B IL IT IE S OF THE FEDERAL (in Federal C ap ita l Reserve B ank p a id Surplu s Reserved Boston New York P h i la. 7 .9 8 1 2 7 ,5 7 0 8 ,9 9 1 16 , 1+83 276 60,197 in fo r Govt, fran ch ise tax 104 thousands L I A C leve. B 11,603 22,509 1 7 ,9 4 5 272 CLOSE RESERVE BANKS AT of 11,030 391 - JUNE 2S, 4 9 ,1 1 4 16 Minn. Governm ent Other F. F. D allas San Fran. 4 ,7 7 0 3 ,5 6 9 4 ,6 2 2 4 ,1 8 6 7 ,3 6 2 2 9 ,0 2 5 9 ,3 8 8 7 ,4 6 8 9 ,6 4 6 7 ,3 9 4 1 5 ,1 9 9 363 309 S t .L o u i s notes R, Bank actual notes in c irc u la tio n c ir c u la tio n other total item s and F. R. per cent C o n tin g e n t for note R. notes o u tstan d in g R. notes held F, R. notes in by "B ills bought U. C ertificates S. in c irc u la tio n open m arket of 43,511 7 9 ,9 8 8 4 7 ,3 4 6 1 3 9 ,8 1 6 1 ,9 3 9 ,2 7 6 3 6 2 ,1 6 2 6 7 ,3 0 7 4 8 ,6 2 8 5 7 ,2 6 7 2 5 ,6 2 4 2 1 7 ,1 0 4 2 ,1 2 4 ,4 2 2 6 1 8 ,7 8 5 1 7 7 ,8 7 0 1 9 7 ,2 7 9 8 1 ,8 9 6 1 5 ,7 1 9 5 ,1 3 3 4 0 ,5 8 2 4 ,9 2 1 2 ,7 5 6 4 ,7 4 3 7 ,8 2 0 3 ,3 5 2 3 ,1 8 2 8 ,5 1 0 2 ,7 1 2 3 8 ,2 4 6 1 4 ,2 0 3 67,259 5 0 ,6 7 3 2 7 ,7 8 8 11,652 3,219 4 4 ,7 9 9 3 4 ,7 9 6 1 8 ,4 9 9 2 9 ,9 2 9 4 3 0 ,3 1 4 900 850 3 ,6 7 3 969 1 ,8 1 7 2 0 ,8 2 0 201,085 198,121 7 1 3 ,^ 9 1 8 2 ,9 3 5 80,361 4 ,7 2 2 1,788 l ,l 4 g 8 3 .3 7 6 .0 4 2 7 ,7 4 2 7 0 .4 2 ,5 1 4 1 2 ,7 8 3 2 ,7 5 6 7 6 .4 in d eb ted ness 1,688 2 ,8 2 4 163 531 860 1 , 7 8 9 119,457 195,998 107,550 1 ,0 8 4 82.5 83.7 69.0 6 9 .5 63.7 l ,2 4 o 4 ,0 9 9 1 , 619 , 930 60.2 1,653 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 860,340 202,862 212,303 8 9 , 7 8 5 1 1 8 , 8 9 7 4 o 4 , 6 9 9 8 3 , 5 7 5 51,033 6 9 , 1 7 4 2 4 1 ,5 5 5 2 4 ,9 9 2 1 5 ,0 2 4 7,889 5,561 4 2 , 5 3 7 16,268 2 , 4 0 5 11,907 1 6 9 ,9 0 7 1 2 ,7 4 3 1 5 7 ,1 6 4 6 1 8 ,7 8 5 1 7 7 ,8 7 0 1 9 7 ,2 7 9 D IS T R IB U T IO N d isco u n te d 6 9 ,3 6 1 1 1 3 ,3 3 6 1 5 7 ,1 6 4 W ith in B ills 2 4 5 ,4 4 1 12,586 4 1 4 ,5 9 6 3 0 ,2 9 7 • 4 ,9 0 4 ,8 4 8 69.7 7 7 .5 purchased banks actual 5 1 ,1 8 8 60,328 c o m b in e d , correspondents F. * * 3 ,7 8 0 1 ,8 6 5 ,1 9 9 d ep o sit on b i l l s F, 3,769 1 2 3 ,4 6 1 1 4 4 ,8 4 3 69.6 fo reig n 2 ,4 i i 4 4 ,7 7 2 1 0 7 ,9 3 0 3 8 ,7 8 6 lia b ilitie s lia b ility 2,316 7 7 ,l 4 l 8 2 6 ,3 3 0 i 350,302 1 , 633,788 359,865 to ,3 .0 3 7 3 ,1 2 3 2,360 l ,7 U 47,623 240,565 66,380 41,515 621 285 528 1,753 1 2 3 ,1 9 4 1,226 reserves 55,253 229 773 lia b ilitie s of 4 ,8 4 6 - TOTAL LIABILITIES R a tio 3 ,1 0 3 1 0 ,9 4 1 5 ,1 9 2 av ailab ility 2 1 5 ,3 9 8 2 ,2 8 1 150 408 lia b ility D eferred A ll in Total 105,078 4o , 26l 1,479 1 1 9 ,7 1 5 d e p o sits R. net account d ep o sits Total 10,223 3 ,8 1 0 805,166 103 ^ 3 ,0 7 1 - reserve Kans.Cy. 1 4 ,6 1 5 C h ic a g o ,271 U St,2S67c. D ep o sits: Mem ber b a n k 1922. do llars) I L I T I E S R ich . A tlan ta 5 ,5 3 8 O F B U SIN E SS 15 days l 6 81 , 896113 , 336362,162 OF B ILL S to 30 2 6 3 ,5 7 6 3 8 ,6 7 5 5 9 ,^ 1 5 4 ,1 0 6 2 7 ,8 4 5 1.500 days AND U . S. 31 C E R T IF IC A T E S 60 61,811 days 6 7 ,3 0 7 OF 48,628 5 7 ,2 6 7 896 1 ,5 8 4 3 4 ,5 8 6 2 8 ,4 9 1 2 4 6 ,4 1 9 2 ,5 3 7 ,4 8 5 2 ,8 6 7 2 9 ,3 1 5 ^13,063 25,624 217 , i o 4 $ ,1 2 4 ,4 2 2 IN D E B T E D N E S S B Y M A T U R IT IE S 6l to 90 days Over 90 days Total 50,208 5 4 ,8 3 1 4 6 9 ,1 0 1 4 3 ,0 6 4 1 5 ,1 5 6 26,292 4 o ,8 7 3 8,580 259,198 3 3 1 ,9 6 9 1 5 4 ,0 6 0 Released, for publication Friday morning, June 30, 1922; not earlier. St.2867d. FEDERAL RESERVE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS, .JUNE 2g, 1922. (In thousands of dollars) Federal Reserve Agent at Boston New York Phila. 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 outstanding Collateral security for Federal Reserve notes outstanding: Geld and gold certificates Gold redemption fund Gold fund - F. R. Board Eligible paper Amount required Excess amount held TOTAL 9 1 ,6 5 0 169,907 271,150 *5 .1 2 0 3 3 ,*05 860 , 3*0 202,862 212 ,303 5 ,3 0 0 16,170 108,000 363 , 1 s* * 0 ,* 3 7 10,991 5 6 ,i s 4 * 9 .5 * 7 73.*81 3>*6s 13.275 39.972 14,926 11.735 *0 1 ,0 00 138,389 1 * 5,000 * 2,293 9,806 67 ,0 *9 86,120 89,785 118,897 *04,699 31,520 - 2,400 *,1 2 7 - 1,751 5^,795 9*,500 3*9.6*5 35,239 5.507 17,870 12 ,70* i* ,9 5 9 * 0,095 33,0*1 22,450 83.575 11,650 5 1 .033 17,900 6 9 .1 7 * 11,210 3,560 42,800 13.052 l,4oo 2,577 16,000 * 8,360 * 16 ,123 14,6 13 1 ,5 1 9 127,309 10,000 173,*52 1 .579.9*1 26,005 20,581 5 . 79s 18,237 2,S79 9 ,2 7 0 26,2 48 5 .110 756,577 19.633 58,930 28,491 246,419 2 ,537,*85 7,702 5 8 ,3 5 * 3.503 * 14,112 19 2 ,536 442,455 ;2 , 065,311 * 5 *,3 12 *67,817 216,597 317,5*7 928,559 19 *.710 119,51* 159,127 102,863 555,271 6,024,083 L I A B I L I T I E S Net amount of Federal Reserve notes received from Comp troller of the Currency 261,557 :1,131 ,.*90 247,982 245 , 70s 121,305 185 ,946 * 90,819 106,025 Collateral received from Federal Reserve Bank: Gold Eligible paper 129,470 51,428 TOTAL http://fraser.stlouisfed.org/ % Federal Reserve Bank of St. Louis 804,156 153,315 170,010 129,665 53,015 52,099 54,5*6 101,027 364 ,6o4 4o,7*6 30,57* 73,136 57.570 31,115 62,683 87,07* 48,124 305,3*9 3 , 294,062 30 ,*52 26,379 50,937 2 1,116 19,221 188,065 2,123,373 606 ,6*8 35,518 61,857 442,455 ;2,065,3H 454,312 467,817 216,597 317,5*7 928,559 19 *,710 1 1 9 ,51 * 159,127 102,863 555 ,271 6,024,083
@FedFRASER