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STATEMENT FOR TBS PRESS Released for publication Friday morning, May 26; not earlier. S t ,2755. ftederal Reserve Board. May 2 5 , 1922. CONDITION OF FSDEBAL RESERVE BANKS Aggregate increases of $18,500*000 in discounted "bills, of $ 8 ,3 0 0,00 0 in purchased paper and of $ 1 ,2 0 0 ,0 0 0 in Govemnent securities are shown in the Fed eral Reserve Board's weekly bank statement issued as at close of business on May 24, 1322. Substantial increases in b ill holdings are reported by the New York, Cleveland and Boston banks, Cleveland reporting also an increase of $6 ,500,000 in Treasury certificates* Gold holdings of the reserve banks show a further gain of $2 ,5 0 0,00 0 and total cash reserves increased by $4,100,000* Deposit liabilities show an increase for the week of $3 1 , IC O,0 0 0, while Federal reserve note circula tion shows a further decline of $ 1 8 ,4 0 0 ,0 0 0 , the May 24 total of $2 ,1 2 8,20 0 ,0 0 0 marking a new low record for the year. The reserve ratio, in consequence of the changes noted, shows a slight decline from 7 7 .6 to 77»5 P er cent. Shifting of gold reserves through fiui gold settlement fund was but moderate in volume, affecting chiefly the reserves of the Richmond, Boston, Chicago and Cleveland banes; the first three banks showed increases of $ 7 ,0 0 0 ,0 0 0 , $5,600,000 and $4,000,000 respectively, «fc£4e the Cleveland bank reported a decrease of $ 6 , 300,000 under this head. Holdings of Government paper increased from $169,700,000 to $181,100,000. Of the total held, $ l 4 l ,3 0 0,00 0 , or 7 8 .0 per cent, were secured by Liberty and other U. S. bonds, $ 7 ,8 0 0 ,0 0 0 , or 4 ,3 per cent, - by Victory notes, $1 8 ,9 00 ,0 0 0 , or 10.4 per cent, by Treasury notes and $1 3 ,1 00 ,0 0 0 , or 7*3 P er cent, - by Treasury certificates, compared with $13 8,60 0 ,0 0 0, $ 8 ,1 0 0 ,0 0 0 , $12,300,000 and $ 10 , 600,000 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 May 17. 1922 May 25, 1921 T o t a C o reserves l l d r e s e r v e s Total earning assets D i s c o u n t e d b i l l s , t o t a l Secured by U. S. Government obligations All other Purchase! bills United States securities, total Bonds and notes Pittman certificates Other Treasury certificates T o t a M F e d F . l d e m e p o s i t s b e r s ’ r e G o v e r n m e n t O t h e e r a R . e r l B d r e a n k p s e n o r v o s e d s r v e p e o d e p o s i t s s i t s i t s e t e n s o t e i n s c i n i r c c u i r l a c u t i o l a n t i o n Inc. Inc. 4 .1 2 .5 Inc. 2 8 ,0 Inc. Inc. Inc. Inc. Inc. Dec. Deo. Inc. I 8 .5 11.3 7 .2 8 .3 1 ,2 .1 1.5 2 .9 Inc. Inc. Inc. Dec. 3 1 .1 11.9 2 1 .1 1 ,9 Dec, Dec. 18*4 .8 J&c. Inc. 577 .O 614.7 Dec. 1,074*3 Dec. 1 , 383.0 Dec. 632.9 Dec. 770.1 Inc. 18.2 Inc, 2 90.5 Inc. 2 1 5.4 Dec, 154.9 Inc. 2 30.0 Inc, Inc. Inc. Dec. Dec, 211.2 167.1 4 3 .1 1*0 606,6 73.1 Released for publication Friday morning, May 26, 1922; not earlier. st, 2735a RESOURCES M U LIABILITIES OF THE TWELVE FEDERAL RESERVE BAIOB COMBINED, ( i n t h o u s a n R E S O U R C E S G o l d a n d G o l d s e T o t a g o t t l e l s o G o l d w i t h G o l d r e d l d m c e l d F e m e p n t h e d e e r i f i c n a t e s n d - F . R b y b a n k s l d r a t i o t f u l R f u n e s e r v d . o . e A . Total gold reserves , , B . . . a r d . . t s . . . . . . . Legal tender notes, silver, etc. Total reserves ....................... Bills discounted: Sec. by U .S . Government obligations A ll other . . . . . . . . . . . . Bills bought in open market . . . . Total b ills on hand o f d o l l a r s ) . . . . . Bank p r e m i s e s ....................... ... % Redemption fund against F. R. Bank notes . . . . . . . . . Uncollected i t e m s ....................... .... . All other resources . . ................... TOTAL RESOURCES May 25, 1921 279,261 474,952 739,322 754,213 2 ,1 4 0,19 2 6 5 ,629 1 ,505,229 133,505 3 ,0 0 7 ,6 8 9 127,564 3 ,0 0 5,14 3 125,982 2 ,3 9 2,94 7 165,285 3 ,1 3 5 ,2 5 3 3 ,1 3 1 ,1 2 5 2 ,5 5 8 ,2 3 2 181,071 169,714 298,982 1 , 076,305 105,364 U. S. bonds and notes . . . . . . . U. S. Certificates of indebtedness: One-yeai’ certificates (Pittman Act) All other . ............... May 17. 1922 325,816 473,506 809,349 2 ,1 4 1 ,1 2 0 57 ,220 306,169 . . . . . . . Total earning assets s May 24, 1922 326/412 482,937 . g e n d 793,951 87,138 592,604 .9L,12I 565,819 1,9 5 7,39 4 240,990 241,115 25,597 78,500 276.721 50,000 273,860 233.375 46.754 1 ,1 8 8 ,8 1 5 1 ,1 6 0,79 4 2 , 263,120 4 0 ,b50 40,326 23,396 7,605 501,733 .... 20.+3Q3 4 ,8 9 4,35 9 7,678 587,772 2 0 ,0 3 1 11,174 510,175 13,663 5 ,379,760 4 ,9 4 7 ,7 3 0 L I A B I L I T I E S C a p i t a r p l S u R e s e r v e d D e p l u p o s s a i d f o i t s e m l l . b e r b a n o t h e r T o t a l n o t e s B a n k e t l i a D e f e r r e d A l l o 2 ,1 2 8 ,2 3 0 2 ,1 4 6 ,6 5 6 2 ,7 3 4 ,8 0 4 71,702 435,114 19.754 72,474 501,283 19,09.4 29,7 51 4,8 9 4,35 9 4 ,9 4 7 ,7 3 0 5 ,379,760 . A n 1,705,956 . . . . . . . 104,695 215,398 . t h o v ' t , f r a n c h i s e . . t a 2,290 x : M . R 1,917,176 1 ,8 8 6,04 5 p G e n t F 39,278 1 ,8 1 0 ,8 1 0 35,957 17,323 1,655,609 33.024 .................................................................................................................... 60,406 1,3 2 2,74 2 34.028 r o v e r n m . 202,036 . ................................................................................................................................................. G F . R 1 0 4 , o 56 215,392 2 ,1 2 4 i n k d e a o t e s i l i t y v a i a s c s . e t u r v b e a c c o c c i r c • * • i e y . u n . t ........................................................... l i l i t l i t . . a • i . i t s i n i l a b . r e o n l . ~ i n b a e r . i r c u u l a • t i o t i o • i t e m s l a » n n - ■ s . • , • . . ........................................................... TOTAL LIABILITIES R a t i o F . R o f , n o t o t a t e l l r i a b e s i e r v l i t e i e s t o s c o m d e p o b i n e d s i t . a n d . , 7 7 .5£ 7 7 .6£ 102,173 35,271 144,834 . 424,929 5 7 .6£ Released for publication Friday morning, May 26, 1922; not earlier. R E S O U R C E S AND L I A B I L I T I E S OF THE F E D E R A L R E S E R V E R Federal Reserve Bank of Gold and gold certificates VjrOJLCL 0©uT/X6II16Xiu 1 IXXIUL Boston 14,307 i « XV* DwdlU Total gold held by banks Gold with F. R. Agents Gold redemption fund Total gold; reserves Legal tender notes, silver, etc. Total reserves B il l s discounted: Secured by U.S.Govt, obligations A ll other B il l 3 bought in open market 39,316 New Y o r k 216,068 x;o,uxo 354,086 E S O B A M U R Fhila. Cleve. 3,244 1 3 ,1 1 6 AT CLOSE OF S C E S I N E S S M A Y St. 24, 1922. (In thousands of dollars) S Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 3 ,0 0 4 5,479 23,690 8 ,l 4 l 51,687 8,231 . If.. 60,570 2795 b. 35,980 31,388 8,463 2,4 56 C J j j 70C JLU 18,874 Total 20,213 326,412 51,209 809,349 93,553 15,939 28,709 28,038 55,727 97,366 351,597 2.066 . 3,152 . 2.54.8...13,065 190,311 1 , 162,939 218,537 229,453 94,859 131,302 458,215 68,562 30,760 49,552 19,184 199,322 2,141,120 1,222 .... 2^629 3,982 57.220 139,617 11.378 20*233 798,903 154,830 175,700 10,000 3.137 25x0pi_ JL.232. ..1x5 88. .1*543 _ 4,837.. 16,381 1,183 . 2,858 85,684 62,327 78,812 40,687 254,513 3,007,689 18.877 771 6,189 211,249 1 , 187,996 225,769 237,041 102,402 136,139 474,596 104,561 63,098 85,001 46,516 260,885 3,135,253 2,409 24,628 3,758 19,996 5 29,867 10,582 13,834 .9,1*5 Total b il l s on hard 33,561 TJ. S. bonds and notes 4 ,4 7 7 38,973 28,527 17,892 5,329 19.712 11,155 21,583 34,4io 27,908 47,681 ...11,252. . 18*223. a, 142. 1 ^ 229. . .293 .18,785 95,028 68,861 59,857 53,531 34,140 86,178 37,559 26,210 181,071 15 7,573 35,064 10.294 306,169 105.364 31,423 52,931 592,604 11,655 7,222 28,299 2,816 54,400 240,990 8,667 4,000 4,321 6,699 3,571 ______ 3.1 _5ix266. ..13*229.. _ i l i 5 . . _ 8,856 58,324 4 i , 061 182,737 55,523 41,674 65,235 1,900 .. 250 5,332 276 78,500 276.721 '7,000 6,000 118,832 ___ 213..-18*836 3,560 82,165 280,754 100,197 131,817 21,500 127.564 23,759 U. S. Certificates of indebtedness: One-year certificates (Pittman Act) 5,950 A ll other 38,177 23,553 1,541 6.372 27,037 1,233 45,394 7,216 13,833 5.249 5,829 26,298 27,124 Total earning assets B U 191 34,626 36,389 112,939 1,188,815 5,215 8,451 600 5,131 2,571 1,308 7,468 917 914 4,965 2,092 1,018 40,650 422 886 700 539 188 468 721 2,023 317 916 146 279 7,605 Uncollected items 48,700 102,326 43,714 49,095 42,049 21,709 64,124 28,170 13,362 34,864 20,837 32,783 501,733 A ll other resources _ 243 l4l 1.767 701 ...L4 27 ._ l*P49, 2,022 Bank premises 5$ Redemption fund against F . R. Bank notes T O T A L R E S O U R C E S 851 ..... 1,519. 653 . ..1*5.13. 5 .4 l l ____20*5P3 348,608 1,584,932 371,633 425,136 205,777 200,826 731,413 191,895 120,792 192,030 108,002 413,315 4 , 894,359 Released for puolication Friaay morning, May 26, 1922; not earlier. RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BAMS AT CLOSE OF BUSINESS M Y 24, 1922. (in thousands of dollars) L I A B I L I T I E S Boston New York Phila. Cleve, Rich* Atlanta Chicago St%Louis Minn. Kans. Cy. 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 lia b ility Deferred availability items All other liabilities TOTAL LIABILITIES Ratio of total reserves to deposit and F.R . note liabilities combined, per cent 7,981 16,483 251 3,524 123,595 H25.. 127,614 150,284 27,392 60,197 291 8,942 17,945 250 11,546 22,509 - 6,301 5,017 16,395 750,841 105,881 138,061 11,704 787 1.^152 778,940 112,969 144,230 614,887 180,899 196,869 4,694 9,388 St.2795c. Dallas San Fran. Total 2 3,568 7,468 332 4,618 9,646 272 2,182 3,924 7 ,4o6 46,500 252,284 69,747 283 1,907 ... .... 559 48,965 261,597 74,230 85,804 116 ,5 19 362,614 70,905 2,740 39,899 313 42,952 49,536 2 ,1 3 1 74,806 377 1,6 35 2,393 6o,4o6 44,902 121,435 1,822.742 155 15,993 34.028 77,314 46,695 139,821 1 ,9 17 ,17 6 25,650 215,781 2,128,230 5 ,5^5 11,030 409 4,269 9 ,n 4 413 14,559 29,025 - 6,755 54,791 .....303 61,849 58,182 4,192 7,394 7,389 15,199 70 5,673 39,252 16,512 82,505 4,208 6,593 42,995 l,o4o 5,466 42,955 l,56l 2,969 37,253 9 1s 5,233 15,497 8,174 51,463 3,9Si 3,340 28,492 3,493 12,106 1,037 7,532 33,627 839 2,776 19,443 3,935 29,520 1,600 76.0 85.2 7 6 .8 69.5 69.4 82.3 7 6 .0 72.0 6 8 .0 62.7 64.3 73.4 104,695 2 1 5 ,39s 2,290 71,702 435,114 844 1,058 816 1,852 19,754 348,608 1,584,932 371,633 425,136 205,777 200,826 731,413 191,895 120,792 192,030 108,002 4 13,315 4 ,894,359 Contingent liability on bills purchased for foreign correspondents 2 ,43s .1 2,702 2,672 2,739 1,637 1,202 3,975 1,570 902 1,603 868 69,989 11.807 55,122 29,172 3,522 25,650 1,536 77.5 33,844 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F. R, notes outstanding F. P.. notes held by banks F. R„ notes in actual circulation 159,854 __ if 570 . 150,284 831,388 206,278 213,417 216,501 25.,.379. 16,548 614,887 180,899 196,869 92,381 121,852 401,132 6,577 5,333 38,518 85,804 116,519 362,614 82,057 11,15 2 70,905 52,476 2 ,64o 43,536 249,6562,509,652 33.87*5 .I .-- .381 .. /..422 ... 215,7812,128,230 DISTRIBUTION OF BILLS AND U. S, CERTIFICATES OF INDEBTEDNESS BY MATURITIES B ills discounted B ills bought in open market U. S. Certificates of indebtedness < Within 15 days 262,472 40,518 1,463 16 to 30 days 49,036 31 to 60 days 7 9 ,1 5 9 22,130 68,382 23,100 2,500 6l to 90 days 46,654 14,762 35,959 Over 90 days *+9,919 4,8 5 4 246,917 Total 487,240 105,364 355,221 Released for publication Friday morning, May 26, 1922; not earlier. „ gt 2 7 9 % FEDERAL RESERVE AGENTS* ACCOUNTS AT CLOSE OF BUSINESS MAY 24, 1922. (In thousands o f d o lla r s ) Federal Reserve Agent at Boston New York Total R E S O U R C E S Fed eral Reserve n otes on hand F ed eral Reserve notes outstandin C o l la t e r a l s e c u r it y fo r Federal Reserve notes outstanding: Gold and gold c e r t i f i c a t e s oold redemption fund S i g i b ^ f p i p e ; -* ^ Amount required Excess amount held 5X>m 111,850 159,854 284,210 831,388 5,300 16 ,3 17 118,000 118,000 20,237 20,237 13,324 13.32H 356,924 13,2 75 2,400 7 560 1 } 052 40,979 10,441 12,425 *+0,979 1,932 4,966 15 953 4 202 1 702 4 1Q2 401,000 U01*000 ^ . 3 8 9 150,000 53.795 90,ooo 335;644 56’, soo 16^00 k 5 ^ l o 32,485 554,269 M % 51,44$ 3 7 ,7 17 36,654 12,1*13 20,086 16.183 7 7n? l ’S ? i f f 070 Unfi p i t iSn S I lo lo o o 24,486 49 53*5 13 4Qt5 21 7 16 ?n 4^7 Q q j c;n 9,^98 36)639 12 ^ M 66 21^ 3 5 w ’M 444,8S2 2, 001,255 471,189 479,740 231,050 317,636 930,503 203,167 122,013 163,200 99,694 562,759 6, 027,088 L I A B I L I T I E S Net amount of Federal Reserve notes received from Comp- trollor of th e Currency Collateral received from Federal Reserve Bank: Gold Eligible paper TOTAL 2 7 1 . 7 * 1 ,1 1 5 ,5 9 8 252,>*9S ...?3, 56l 86,754 444,882 2 ,0 0 1 ,2 5 5 63,861 21.6 ,2 3 7 57»803 l 22>Ug6 i g 6 , 286 >*92.732 108.307 S ' 727 52,837 6H.571 89.889 * 9,087 310,586 3 , 309,981 9 7 »366 351,597 68,562 30,760 49,552 33,984 86,174 26,298 26,682 23,759 19,184 199,322 2 ,1 4 1 ,1 2 0 31,423 52,851 575,987 471,189 479,740 231,050 317,636 930,503 203,167 122,013 163,200 99,694 562,759 6, 027,088
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