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STATEMENT FOR TEE PRESS Released for publication St. 1825. Sunday morning, Mar . 6; Federal Reserve Board not e a r lie r . March 5, 1921. CONDITION OF FEDERAL RESERVE BANKS Aggregate^liquidation of about 65 millions of discounted bills and other earning assets, accompanied by reductions of 3^.8 millions in^net deposits and of 9*1 millions in Federal Reserve note liabil ities, as against a further increase of 22.7 millions in gold re serves and of 18.8 millions in total cash reserves, are indicated in the Federal Reserve Board's weekly bank statement issued as at close of business.on March U, 1921- In consequence of the above changes, the reserve ratio shows a rise for the week from ^ 9»9 to 50.8 per cent, the highest ratio published since September 26, I 9 I 9 . Bills secured Ty Liberty and other U . S. bonds show an increase of 21.4 millions, while other classes of discounted bills show sub stantial reductions: bills secured by Victory notes - by 18.0 millions bills secured by Treasury certificates - by 2 5 .6 millions, and other iscounted bills - by 32.6 millions. Acceptances on hand show a decline^ of ^6.5 millions, and Treasury certificateho ldings fell off 3 .8 millions. Total earning assets, accordingly, show a decline for the week from 2, 85^.1 to 2 , 789-1 millions, to be compared with a total of 3,216 millions reported on March 5 of last year. Of the total holdings of 9^1 <8 millions of paper secured by U. S. Govern ment obligations, 59^*9 millions, or 6 l.O per cent were secured by Liberty and other U. S. bonds; 273-7 millions, or 27-9 per cent by ictory notes, and 109*2 millions or 1 1 .1 per cent by Treasury cer tificates, compared with 577 -5> 291*7 and .8 millions shown the week before. Discounted bills held by the Cleveland Reserve Bank include 1 2 . millions of bills discounted for the Dallas Bank, compared with 13-d millions the week before, while acceptance holdings of the •iOston,^ Philadelphia, Cleveland and San Francisco Banks are shown inclusive of 18. 9 millions of bank acceptances purchased from the ew ork Bank, compared with 2U millions reported on the previous Friday. Decreases of 6 millions in Government deposits and of I 7.5 millions in members' reserve deposits are shown, together with an increase of 12 millions in the "float" carried by the Reserve banks and treated as a deduction from immediately available deposits* Other deposits increased by 0.7 million, and net deposits, in con sequence, show a decrease of 3U .8 millions for the 15/eek. During the week imder review, the circulation of f e d e r a l Reserve currency resumed its downward trend, the circulation of Federal Reserve notes showing a decline of 9 .1 millions, as against an in crease of 10 millions during the corresponding week in 1920, and the circulation of Federal Reserve Bank notes showing a decrease of U .2 millions, as against a decrease of about 8 millions shown for the corresponding week a year ago. Released for publication Sunday morning, March 6 , 1921; not earlier- • St.1825a. RESOURCES AMD LIABILITIES OF THE T'TSLVE FEDERAL RESERVE BANKS COMBINED- Po-m R a S ?-}U R *-5- S certificates March 4. 1921 $234,353,000 fund - F' R* Board Gold with foreign agencies c i f al, f ^ he1^ Gold T 1383115:3 ,eSerTe Agents 1 ct* LeS v7 7 m ^ . “ 526,1*99,000 678,ooo Uncollected i t . s and other deductions fro* gross deposits 5 M e d ® p t io n fund against y. R. Bank notes Gold abroad m custody or in transit All otter resources total resources L I A B I L I T I E S Capital paid in Surplus Goverment deposits ' Due to members - Reserve account Deferred availability items Other deposits including foreign goverment credits Total gross deposits F. R. notes in actual circulation ^ S S S T TOT at TTftPTTTmT-c-c ' - -- Katio of total reserves to net deposit and f . B . note liabilities combined Ratio of gold reserves to F.R. notes in circulation after setting aside 35f0 against net deposit liabilities 747,439,000 682^316^000 1.23U, 181,000 i q g .W n o n 1,138,690,000 116 0 7 1 ooo 1 937 077 000 $2,163,090,000 : t6S’ SilVer’ etC' 389 332 ooo 11 ? 8?? non _ _ _ 760,852,000 1 , 236, 560,000 reserves Mar- 5. 1920 $180,162,000 530 loU ooo ________ (a , ^ r . Bills discounted / ^ W e d b y U ' S ‘ Government obligations 981,840,000 Bill , ,t . (All other ' 1 ,3 5 9 , 665,000 Bills cougnt in open market l64.004.000 Total bills on hand --- -- --~ V. S. Government tends U. 3. Victory notes U~ S* Certificates of indebtedness Total earning assets Bank premises ’^ q ^ K February 25. 1921 $217,335,000 $2 l4o 313 000 "S & l & g S 212,673.000 2,375,7^3,000' 2,356,999,000 1,003,975,000 1 392 279 000 c v * ««« o sqe soo 000 ~ I # - 593,000 • " ^ ’ fUs’S o wiooo 25,8>*9,000 ?~78Q nfoono ^ ’noo °57 flT ^goQ 2,05^,630,000 1 520 494 000 8 8 8 ,1 ^ ,0 0 0 E„ « ) . ««« 5.13..>ffi^QQQ ^ S .O O O 000 ...?6l,5.1Q.,QQg 2,85*. 135,000 rj?’ ??? . . . , 7 , 0 0 0 3 , 215 , 952,000 gft1S*SS 12 1 ^ ’ 000 16 226 Soo 3 300 00Q ? ’ 5 n nrS ? 3,300,000 -_ s , 520 ,cog .. 7 ,.6.U,ooq .J U j j M B t t 5 ,8 4 1 ^ ^ 0 0 0 ^ ^ 0 / 5,861,101,000 6 , 168,6 0 3 ,000 12 199 000 „rr 100 , 805,000 n 202, 036,000 . 50,941^ 000^ , 6 2 ,5 ^ ,0 0 0 705, 3 9 ^ 0 0 1 1 ,7 2 2 , 919,000 kSf ^ ^ ? ? 'S V o o o 24,o6b~,QQQ * nSH --2j, 305,000 3, m 2, 2|5^f*«,COC' ... ° l F S -§ § § ,.c^t>,uuu , ’ S^ 100, 790, 000. 202, 036,000 I ’ f P ’ S 1? ’ 000 — .3 1+Df ^ 0 0 0 I ’S n ’ '° ° S 5 5« 50 *2/5 59 -3# 83,879,000 1 , 858,184,000 ql’ 525* 000 38, 225;000 5 ,S 6l, 101,000 ’°°0 90, 966,000 120, 120,000 58 . 1$ S S 40,097,000 5^5S ^000 * ^ ^ 7 -1# Released for p u b lic a tio n Sunday morning, March 6, 1921 ; not e a r l i e r . St. 1825 b RESOURCE'S AND LIABILITIES OF THE FEDERAL RESERVE BAI 17° AT CLO^E OF BUSIi'ESS MARCH 4 , 1921 . EE SO C B C E S (In thousands of d o lla rs) Federal Reserve Bank of Boston New York P h ila . C le v e l. Richm. A tlan ta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total Gold and gold c e r t i f i c a t e s 6,962 143,996 3,623 7,139 3,903 4,931 21,120 3 , 5^4 3,422 2,607 5,443 17,663 234 , 353. Gold settlement fund - F.R.Board 32,436 54,542 45,736 104,829 32,625 13,817 117 , SI 7 26,177 a , 101 3 S . 5S9 6,520 32,310 526,499 Total gold held by banks 39,398 203,538 49,359 111,96 s 3 6 , 5 2 s i s , 7 4 s 1 3 s , 937 2 9 ,7 2 1 29,523 41,196 11,963 49,973 760,S52 Gold with F-« R* Agents 153,128 204,624 132,577 179,997 5 0 , 3 6 6 5 8 ,4 7 0 1 9 5 ,5 0 1 6 2 ,3 3 2 24,651 36,147 17,300 120,467 1,236,560 Gold redemption fund 2 5 . 59S 36,000 12,256 1 3 .OU 6 .S04 3.1M+ 7,777 32.357 5,222 5,318 8,425 9_..725 165,67s Total gold reserves 218,124 444 ,162 19^,222 305,007 94,19s 84,995 366,775 97,775 57,318 82,661 37,688 1 8 0 ,1 6 5 2 ,163,090 Legal tender notes, s i l v e r , e t c . 13,203 156,321 3,511 4 ,iq 4 5.772 4,392 S. 214 6.802 466 2 .0 2 6 M 77 2,895 .2 12,673 Total reserves 231,327 600,433197,733309,201 99,970 89,387374,939104,577 57,734 85,556 4 2 ,5 6 5 18 2 ,19 12 ,3 7 5 ,7 6 3 B i l l s discounted: (a) Secured by U .S .Govt,o b lig a tio n s 59,062 373,704 107,205 59,473 48,825 58, 4s 2 128,470 35,079 14,295 36,784 15,785 4 4 ,6 7 6 981,840 A ll other S I ,734 472,502 45,057 65,773 59,141 66,580 240,981 54,363 55,693 62,088 52,31^ 103,389 1 , 359,665 B i l l s oought in open market (b) - 15,^32 _ 37,132 16.485 38,533 — 3,270__ 1, 199 10,535 2.170 456 38.792 l 64 ,oo 4 Tot^l b i l l s on hand 155,27s 853,338 l b s ,747 1S3 !779 111,23b 125,251 379 , 98° 91,512 69 ,933 9 9 . 32 S 68,099 186,857 2 , 505,509 U, S. Govermnent bonds 550 1,257 1,434 S34 1,233 113 4,490 1,153 116 8,867 25,848 1,822 3,979 II. S. V icto ry notes 5 10 3 1 19 U . S. C e r t if ic a t e s of indebtedness 2 l> 7 3 oc; Total earning a ssets 178,305 “ 946,155 200,911 188,423 124,731 143,043 424 , l 4o 105,309 78,584 118,515 80,378 199,562 2,789,059 Bank premises 3,183 4,466 503 1,645 1,49s 723 2,707 626 59s 1,6 15 1,769 400 - 19.733 Uncoil so ted items and other deI'iO V. ductions from gross deposits 42,257 127 , 2*9 54,165 55,892 46,492 25r f 35 S l . l b b 33,359 13,630 54,640 38,175 33,765 6337*21 Jjo Redemption fund against F. R* Bank notes 2,380 1,071 1,300 602 509 1,239 1,930 478 916 536 12,199 523 665 Gold abroad in custody or in tra n sit 241 1 ,2 11 264 270 162 119 89 158 8 6 393 152 3,300 155 A l l other resources 516 2,278 4s i 479 470 286 1,630 141 474 405 8,580 509 911 r ___ TOTAL RESOURCES 273,925 2 5 9 ^ 0 903,533 246,058 156,304 26l , S 75 164,470 422,140 5,84i-rf65 (a) Includes b i l l s discounted for rtf 0,^0/ By/s' other F. R. Banks, v iz : 12,399 (b) Includes bankers1 acceptances bought from other F-R-Banks: Without their endorsernent 906 25 3,213 8,883 12,399 (b*Crt) 5,852 7 1/.879 Released for publication Sunday morning, March 6, 1921 ; not earlier RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OE BUSINESS MARCH U, 1921 . (in thousands of dollars) Eederal Reserve Bank Capital paid in Surplus Grovernnent depos i ts Due to members - reserve account Deferred availability items Other deposits including foreign government credits Total gross deposits E. R„ notes in actual circulation E* R* Bank notes in circulation net liability All other liabilities TOTAL LIABILITIES St.18250 l i a b i l i t i e s Boston 7,356 15,711 3,736 New York Phi la. Clevel. Hichn. Atlanta Chicago St-LouisMinn. Kans.Cy. Dallas San Eran To tal 26,U6p 8,609 10 , 39!+ 5,305 >+,022 14,112 4,431 3 , 1+85 4 , 1+90 4,127 7 ,o?U 100,865 56, Ull+|S I? 010 20,305 10,561 8,31+3 28,980 8,31+6 6,980 9,159 6,033 lU, I 9U 202,036 r 7>)2?3/ M 56 ^ > 219 2 ’ 335 1 *U37 10 >922 1+, 175 U, 19I+ 5,781 2,631 3,527 56,9^1 108,676 650, 1+1+5 lpl+, 527 lU6,226 57,227 1+6, 69221 +9,261 61+,98l+ 1+1+, 122 77 , 31+1+ 1+7,873 108,011+ i ,7 0 5 ,3 9 i * ^ 3 4 ,3 * ^ 72,331 4o, s4i 1+9 , 1+17 35 , 1+20 2V§©i 65 , 51+1+ 31,653 17,610 50, 211+ 29, 1+35 29,244 hgi r m os03 Rtf/ 369______ 2U3 109 f*48! , 612 1+71+ 1+19 328 361 6.033 6n ____ 12 , 1+ g / ^ 881+ 1^7,393 53, 0-0-s j j200,222 95, 229 _ 697^ ^ 27,333 101,286 66,345 133,667 80,300 +6,818 > -> t '-‘-j w i , cou ‘-JJ.'-’v i o w . j u u 11 I'+o. oxo 2 , 2 6 9 267,1+78 801,916 255,295 302,311 152,15^ 162,929 495,914 123,237 16,327 , 2.136 35,619 15.302 i s , 642 71,341 100,352 2.191 20,935 m Ct. L 0 / M E K O S £‘?/JD A 42-2 55*7 69.2 49.8 43.2 51*7 54-7 4s . 5 47.7 Contingent liability as endorser on discounted paper rediscounted with other Federal Reserve Banks 18 ,854 Contingent liability on bills purchased for foreign correspondents 1. 168 39,1 52-0 12,399 Bankers' acceptances sold to other F. R. Banks without endorsement Bills discounted Bills bought in open market U* S- Certificates of indebtedness &t>sh 9,282 12,852 30,583 7,279 6,685 12 ,043 5,223 9,039 125,109 2,484 1,394 1,885 6.605 1.479 1.468 2.164 1.424 2.694 - 41.226 456,901 1,684,-^03 455,355 557,151 273 , 925 2597^50 903,533 246,052 156,304 261,875 164,470 422, l 4o 5,s4i7t 6 r ' t'atio of total reserves to net deposit and E«R. note liabilities combined, per cent 62*1 E. R. notes outstanding E- R. notes held by banks E* R. notes in actual circulation 66,763 242,321 3,942,611 ) 8,105 /&&€> 1,280 1,312 724 576 , 1,904 752 432 768 4l 6 50.8 12,399 25 i l 279 736 18,233 EEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 2SO, 965 913,534 276,524 327,474 153,492 168,284 533,036 i 44 ,o 46 20,629 25.163 6.332 5.355 37.122 20.209 ^ 3 7 ---------- 111,668 - .- - I J, JJJ J I . J. C- CC . V . W 7 267, 47s 801,916 255,895 302,311 152,154 162,929 495, 914 123 , 237 73,357 108,223 2.016 7.271 C -,\J ± V I , U I J. 71,341 100,352 70,313 292,691 3 , 346,929 J. y j u 50,370 304,372 t66,763 P 5-242,321 3 , 042,611 DISTRIBUTION OF BILLS M D 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 1 ,44 4,44o 222, 69s 375,018 255,707 43,642 2 , 341,505 72,745 31,769 43,302 16,188 164, oo4 H ,9 7 l 3,100 9 ,518 4,513 223,591 257,693 Released for publication Sunday morning, Match 6 , 1921; not earlier. St.lS25d. FEDERAL RESERVE AG-T'TSr ACCOUNTS AT CLOSE OF BUSINESS 1'IARCH 4, 1921. (in thousands o f d o lla rs) Federal Reserve Agent a t RESOURCES Federal Reserve notes on hand Federal Reserve notes outstanding C o lla te ra l s e c u r it y for Federal P.eserve notes outstanding: Gold and gold c e r t i f i c a t e s Gold redemption fund Gold settlement fund-F.R.Board E l i g i b l e paper: Amount required Excess amount held TOTAL Boston New York F n ila . Clevel < Richm Minn. Kans*Cy* Dallas San Hr an 105, 150 280,965 262,000 22, l4o 4 6 j4 o 25,088 913,524 276,524 327,474 152,492 3 ,4 co 11,625 73,357 102, 223 16,226 5,600 22,528 125,000 169,602 23,775 9,016 16,128 16,222 26,000 116,389 140,000 127,237 708,960 l43,Q47 147,477 107,626 l4 o ,795 1,47s 9,329 1 5 , 643 28,441 6 9 5 ,5 2 1 2 , 2 3 5 ,9 6 3 3,500 2, s66 48,000 5 8 4 ,5 1 7 7 1 7 ,3 3 1 3 ^ 3 ,5 5 0 4 2 2 ,6 0 3 13,357 3 ’> U l 1 ,2 5 1 , 7 5 9 3 2 1 ,7 6 0 nrT r Total 47,500 788, 894 70,313 292 , 691 3 , 346,989 13,052 1,399 10,200 2,727 33,3 60 5,291 14,171 4 ,175 7 ,234 106,296 227 , 3 S6 109,120 900,054 48,70b 19,936 72,076 27,209 53,013 172,224 l 4 ,801 13,517 2,110,429 34o , i i 4 247,055 1 7 2 ,2 5 3 646,399 7 ,8 2 2 ,9 2 6 1 7 s , 275 I A B I L I T I E S Net smount o f Federal Reserve notes received from Comp t r o l l e r of the Currency 3 8 6 ,1 1 5 C o lla te ra l received from Federal Reserve Bank: Gold E l i g i b l e paper 1 5 3 ,1 2 8 1 5 6 ,2 7 8 TOTAL 374,214 1 8 3 ,5 8 0 2 4 3 ,3 3 9 6 7 6 ,5 7 6 1 6 7 ,3 2 6 2 0 4 ,6 2 4 132,577 1 7 9 ,9 9 7 5 0 ,8 6 6 5 2 ,4 7 0 849,755 1 5 3 ,2 7 6 1 6 3 ,1 2 0 1 0 9 ,1 0 4 1 2 6 ,2 4 4 195,501 3 7 9 ,6 8 2 6 2 ,8 3 2 9 1 ,6 0 2 1 ,1 8 1 ,5 8 4 2 9 8 ,6 6 4 6 9 5 , 5 2 1 2 ,2 3 5 ,9 6 3 5 2 4 ,5 1 7 8 4 ,9 8 2 1 1 1 ,6 2 3 2 4 ,6 5 1 6 8 ,6 4 2 36,147 99,225 8 7 ,1 3 9 3 4 0 ,1 9 1 4 , 1 3 5 ,8 8 3 1 7 ,3 0 0 1 2 0 ,^ 6 7 1 ,2 3 6 , 560 67,214 125,741 2,450,543 717,331 3 4 3 ,5 5 0 4 2 8 ,6 0 3 1, 251,759 3 2 1 ,7 6 0 1 7 2 ,2 7 5 247,055 172,253 646,39 9 7 ,8 2 2 ,9 8 6
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