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STATEMENT FOR THE' PRESS Released for publication Friday morning, Nov. 1+; not earlier St*2379Federal Reserve Board November 3, 1921- CONDITION OF FEDERAL RESERVE BANKS Aggregate gains of about $1^,000,000 of gold, as against a continued loss of $ 5 , 500,000 of other reserve cash* accompanied by an increase of $3,800,000 in total deposits -\rA a nominal reduction in Federal reserve note circulation, are indicated in the -Federal Reserve Board's weekly bank statement issued as at close of business on November 2, 1921- The banks1 reserve ratio shows a fur ther rise for the week from 70-8 to 71 per cent. Federal reserve bank holdings of bills secured by United States Government obligations show a reduction for the week of $ 8 ,1+00,000. Other discounts on hand declined by $ 39 *900, 000, while the holdings of acceptances purchased in open market, following considerable purchases from bill brokers by the New York tank, show an increase of $25,200,000- United States bonds and notes on hand increased by $3,600,000- Fittman certificates used as cover for Federal re serve bank note circulation show a further decline of $ 5 , 000* 000, while other Treasury certificates, largely held, under repurchase agreements by the New York and Chicago reserve banks, increaseayabout $12,000,000. Total earning assets of the reserve banks, in consequence of the changes notea, were $ 12 , 500,000 less than the week before and on November 2 stood at $1,549,500,000, or nearly 55 per cent below the total reported about a year ago. Of the total holdings of $1+53,500,000 of bills secured by United States Government obligations, $337,200,000, or 7I+.3 per cent, were secured by liberty and other U. S. bonds, slightly over $82,000,000, or 19.1+ per cent, by Victory notes, $10,300,00^, or 2-3 Per cent, - by Treasury notes, and about $18,000,000, or 1+.0 per cent, - by Tr^gary certificates, compared with $330, 600, 000, $ 95 , 300, 000, $ 16 , 300, 000, )$19 , 700,000 reported the week before. A large reduction, from $1+3,800,000 to $27,700,000, is shown in the amount of paper held under rediscount for other reserve banks by the Boston, New York, and Cleveland banks. Rediscounts of the Richmond bank with the New York reserve bank: show a reduction for the week from $15,000,000 to $1+,200,000; Atlanta reports a decrease in bills rediscounted with the Boston and Cleveland banks from $16,000,000 to $ 1 5 , 300, 000. Minneapolis reduced the amount of bills rediscounted with the New York bank frcm $1+, 1+00,000 to less than $1,000,00.0, while .Pallas was able to reduce its rediscounts with the Boston bank from $ 8 , 500,000 to $ 7 , 300, 000. Goverment deposits are shown $ 13 , 300,000 larger than the week before. Reserve deposits declined by $18,300,000, while other deposits, composed Clearing aCCOunts and cashier's checks, show a gain *7on n m 8rt l T ? T note+circulation sh°ws » fa t h e r decline for the week of $700,000, the total amount outstanding -$>AOft300^00-constituting a new low record xor the year and marking a 29 per cent decline frcm the peak reached on Decanter 23 of last year. Aggregate net liabilities of the reserve bariks 4? n n n ^ S rf Serv® no^e^ in e m u la tio n show a decline for the week by $3 , 000, 000, largely through deposit of lawful money with the Treasury, though the decrease in the amount of these notes in actual circulation, according to Treasury records, was only $1,300,000. j-u-aus a. G°fd reserves show the record high total of $ 2 , 800, 300, 000, marking a gain since the beginning of the year of $737,500,000. This gain is offset 2 part S e g a l s ! 11108 W 1 °f $ 5’ 500,000 in ° ther Cdsh reserves, i . e . , silver Released for publication Friday u.orning, IToveuBfesr 1+, x921» flot earlier. St. 2379a. RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COI.SBIKSD. (in thousands of dollars) R E S O U R C E S No v -2 , 1921 1+58,1+68 502, 61+7 Gold and gold certificates . . . Gold settlement fund - F.R.Board Gold with foreign agencies . . . Oct. 26 , 1921 1+U8,280 U96 . H l Nov- 5, 1920 17 I+JO2 1+17,981+ 77,51^ . . 9 o l ,U 5 9'4U,39i 670,200 Gold with Federal Reserve Agents Gold redsmp&ioa fiend . _ . . 1,705,670 H 0 .U 7 2 1,729,790 1 1 2 , 05s 2 , 786,239 150,909 2,937 ,l'4S 1 , 152 , 3^6 17 9 ,12 7. 2,001,673 168.056 Total gold held by banks 2,800,257 lU5,UlU Total gold, reserves Legal tender notes, silver, etc. Total reserves .................. 2 ,S 1+5,671 Bills discounted: Sec. by U.S. Government obligations. All other ............................................ Bills bought in open market *............... Total bills on h a n d .................. U. S- bonds and n o t e s .................. - U. S* Certificates of indebtedness: One-year certificates (Pittman Act). All o .t iie r ............................................ 1+53,501 306,929 .«/*/ 87 1,3^7 »9JiL, ^ TOTAL RESOURCES l,6ll,72l+ 2 9 9 J il 3,126,59^ 33;207 26,93^ ll+l+,875 19,822 l'+9»875 259,375 8,672 1 ,562,021. 31,020 3,1+21,575 31>3^5 S , 03S 558,326 1S.6SH 7.86U 8,099 51+0,067 ______1 6 x 5 6 0 • 16,081 12,059 786,81+1+ 7,1*18 5,09^,915 6,1+1 3 ,1+36 103,020 213 , 82U 5^,026 103,007 9 7 , S2U 16I+JU5 59,91/ US,62U 1 , 669,059 5 ,m ,5 2 3 . . . . . . . i ,3 7 i,0 T 5 _ <b 1 , 215,101 36,831 <Y>^ <?otal earrilng^a^sets.................. 1,5^9 >^5*5 Bank premises ..................................... % Redemption fund against F- R- Bank notes ............................. •Uncollected items ............................. All other resources .......................... l+6l , 8S6 8U6.863 62 ,3fc£- > 2,169,729 L I A B I L I T I E S Capital paid in ............................. S u r p l u s .................. ......................... Reserved for Gov’ t, 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 l i a b i l i t y .......................... ' Deferred availability items . . All other liabilities ............... TOTAL LIABILITIES . • ...................... Ratio of total reserves to deposit and F.R. note liabilities combined . . . Ratio of gold reserves to F.R. notes in circulation after setting aside 35/j against deposit liabilities 1,650,7^6 51. p /5 1,7^2,338 213,824 5 3 , 93s 22,873 1 , 738,556 2,1+08,122 2,U08,779 SU.985 '481,623 U66 ,oi+i+ 88,02U 2 3,58 5 ___ 22 , 7U3 5,111,523 5,09U ,915 . ^7,378 1,777,256 26 , 923. 1,8 51,557 3 ,351+, is o 21U.533 631,326 99,271 6 , 1+1 3 ,1+36 . 71 . o£ 10.8fo *1+3 . 0^ Si-Op 96.7^ *1+7.0$ * Calculated on basis of net deposits and F. R. notes in circulation. Released for publication Friday uorning, November 4, 1921; not earlier. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS NOV. 2 Federal Reserve Bank of Gold and gold certificates Gold settlement fund - F.R.Board Total gold held by banks Boston 8,26 7 44,688 New York 3*5.772 122,823 52,955 *+88,595 RESOURCES Phila. Cl eve. 1,858 12,452 63,675 *+9,370 Rich, Atlanta 2,912 5,01+9 19.919 6,638 65,533 22,831 61,822 5*+*+, 957 l3*+,°22 167,572 ~’v’ 1921. (in thousands of dollars; Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total 2 2 , 5 l4 3 ,20 7 3,962 2,126 ,,3 *9 17.760 458,46S ^7_, --5 0 2 ,647 85,339 24,87 8 11 ,.8 1 & _2 L g g l -- ^ 2 7 11,687 107,853 28,085 20,781 23,7*+7 l l , 8l 6 65,410 961,115 65,772 17,7*+3 35,251 177,211 1.708,670 2,533___ l A 9 2 -- 2<J>25-- it9gi.— 1?° >?»(.£ 41,057 62,601 27,116 247 ,5*+*+ 2,800,257 Gold With f . r. Agents Gold redemption fund Total gold reserves 178,824 24,316 15,000 10,012 5,565 256 , 0 9 5 1 , 048, 552 2 0 9 , 567234,959 30,679 46,137 298,067 10.138- 5.471 4l,640 63,648 63,295 *+*+7,560 Legal tender notes, silver, etc. Total reserves 16,823 52,521 6,797 5,880 2 7 2,918 l ,101 ,073 216,364 240 ,839 5,726 69,374 7,788 20,379 13,376_____ 1+86--5 ,24l-- §>^66--j .,831-- 1 **} 71,083 467,939 111,639 H i ,543 67 , 842 33,682 251,375 2,945,671 , 3 7 ,6 77 Bills discounted: (a) Secured by U.S. Govt, obligations All other , 28,243 42,574 k ri7 c Total bills on hand 75,895 U-. S. bonds and notes 9*+3 U, S. Certificates of indebtedness: One-year certificates (Pittman Act) 11,936 408 All o.ther , ,LUa-W^3» 89,182 Total/earning assets Bank premises 5$ Redemption fund against F* R* Bank notes Uncollected items All other resources TOTAL RESOURCES (a) Includes bills discounted for other F. R. Banks, viz: 4,468 4,4o6 98,263 31,571 £7 n „ , _ 60,081 62,187 13 *+,559 A c>75? x ^61 22,843 *+1,937 380 257,133 102 , 56s 132,243 103,716 99,836 198,201 65,160 4,4-90 1,240 8,564 22,612 3,760 41,276 15,780 ' 13,299 1 13,332 l 5,523 175 118,789 230,826 316,156 119,783 146,573 108,709 891 6,022 5,393 2,697 533 3 ,3 11 7,568 4,980 64 206 74,032 75,*+*+§ 718 91, *+96 92,5*+8 112,057 ro K55 4,415 67,356 28,728 £ halt i,*+3*+ 4l,?01 87,119 1 I103 856 62,369 1 1,233 10,388 628 _r 8,997 6l,l4o 7 0 ,1 *^ ll63 18,425 57,l*+5 1,626 77,196 8,868 2,643 205 3 6,831 5,320 112 1,900 7,880 l4H,£?5 3,872 2,097 715 31 »3*+5 222 916 156 39*+ 8,038 48,051 15,988 39,539 24,489 35.927 558,326 617 684 1,893 782 750 *+73 3,127 *+,570 18,684 539 188 57,556 121,228 48,86? *+7,638 478 3.812 435 1.063 425,024 1 , 550,061 386,682 439,963 229,636 211,336 774,925 220,092 134,670 204 , 13 s 5,*+*+3 19,822 523 32,488 700 - he? cm 4 5 3 ,5 1 70,340 806,929 H,*i58____ 87,501 1,665 67,209 1,770 5,155 . cC 35,156 5*+3 19,346 422 17,071 8,903 *+6,774 205 - - - - - — 23,976 411,020 5,111,523 27,669 Released for publication Friday morning, Nov. 4, 1321; not earlier. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS NOV 2, 1321 St.23790' (in thousands of dollars) L I A B I L I T I E S Federal Reserve Bank Boston New York Phila. Cleve. Rich. Atlanta Chicago S t .Louis Minn. Kans.Cy. Dallas San Fran. Total Capital paid in 7,94o 27,087 8,684 11,104 5 , 1+11 4,159 14,383 4,566 3,561 4,522 4,201 7,402 103,020 Surplus 16,342 59,318 17,564 22,263 11,026 8,708 30,536 9,114 213,824 7,303 9,330 7 .U 3 15.207 Reserved for Govt, franchise tax 2*722 20,408 2,847 3.587 2,707 3,932 9,465 1,423 2,131 2,002 2,802 54,026 Deposits: Government 4,040 4,438 11,890 4,071 4,426 3.491 10,797 3,154 3.305 5,265 1,599 3,441 59,917 Member tank - reserve account 116,873 664,961 100,353 130,809 49,605 40,632 230,118 60,719 39.734 62,756 40,830 113,356 1,650,746 All other 907 — 17,711 1,710 772 453 ClC(0 J^6 4 2,278 890 578 649 1.453 3,910 31,675 Total deposits 121,820 §9jj.5&2 106,501 135.652 : 44,487 243,193 W o*, 7 T 6 T 43,617 68,670 43,882 120,707 1,7^2,338 F . R. notes in actual circulation 220,585 630,748 198,986 215,448 107,688 125,780 410,396 103,145 57,691 70,804 39,630 227,221 2,408,122 P. R. Bank notes in circulation net liability' 5.906 21,251 , 5.175 8,007 7,447 3,731 8,244 3,717 84,985 2,703 3,3243,517 11,963 Deferred availability items 48,287 91,911 45,074 43,285 43,212 15.691 54,317 32,100 15.460 3 5,359 24,634 32,293 481,623 All other liabilities 1,422 4,776 1 ,1 1 1 1.357 1.377 1,132 4,391 1,264 1,813 2,064 1,390 1,488 23,585 TOTAL LIABILITIES 425,024 1,550,061 386,682 439,963 229,636 211,336 774 925 220 092 134,670 204,138 123,976 411,020 Batio of total reserves to deposit and F. R, ^ * , 3 0 220,uy2 5,111,523 note liabilities combined, per cent Contingent liability as endorser on discounted paper rediscounted with other F. R. Banks ■ Contingent liability on bills purchased for foreign correspondents 2,336 F. R. notes outstanding F. R. notes held by banks F* R. notes in actual circulation Bills discounted Bills bought in open market U. S. Certificates of indebtedness 83-1 79,7 - 70,8 68.6 42.8 41.7 4,200 15,263 71*6 66.5 41.0 955 48.6 40-5 7,251 72.2 71.0 27,669 12,057 2,560 2,624 1,568 1,15 2 3,808 1,504 864 1,536 832 1,472 32,313 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 239,971 743,613 218,490 235,250 115,564 131,393 449,281 124,456 60,704 76,717 43,032 277,135 2,715,606 19,386 ii^>.g65 ,, 19 , 5°4 19,802 7,876 5,613 38,885 21,311 3,013 5,313 3,^02 49,914 307,484 220 ,585 630,748 198,986 215,448 107,688 125,780 410,396 103,145 57,691 70,804 39,630 227,221 2,408,122 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 732,102 146,971 125,384 212,353 43,620 260,430 1, 58,207 10,756 12,188 6,2 k & j 108 87,59ir‘^ 6,724 3,100 21,883 8,602 124,388 164,697 ro /0 Released for publication Friday morning, Nov- 4, 192-1; not earlier. FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS NOV. 2, 1921. ■c , ^ ^ ^ federal Reserve Agent at R E S O U R C E S •• Boston New York oxi; . iNew xorK ,T ^ , ( In thousands of dollars) Phila move »n * . rniia. Lleve. Rich. Atlanta Chicago St.Louis Minn. Kans,Cy. ' TOTAL 101,440 325,060 35,220 43,780 75,604 166,880 28,460 15,190 239,971 743,613 218,490 235*250 131,393 ' 449,281 124,456 60,704 160,000 6l-,l47 14,748 > f - rw Dallas San Fran. Total - Federal Reserve notes on hand Federal Reserve -notes outstanding Collateral security for Federal Reserve notes outstanding: Goid S d ^ p w o n efuidicates Gold fund - F. R. Board Eligible paper Amount required Excess amount held St. 2373d.. 135; ^ 121,000 1 1 7 !389 l W 000 | w j t i c - / / t r- r * i '-jr' 3l f : ^ | 27^00 1 / . M i n 3 ,4 oo 16; 633 4,237 x^Rnn 32.500 “ •S I 15,422 s282,645 J ’ chc 6,110 4,031 55,631 13,052 2,491 85,256 iu u 1 k 14,413 151,214 a w uuu; .46,968 58,684 42,961 m cc 6,455 o j i c\r\i 24,903 u 2,200 4,290 76,717 -u„ - 1,891 33,360 41,466 ~i r- r r\rt 35,698 - 6.702 450, isu I 'l ? . /s.i, l . /■'/' ^ 777 292 11S 596,130 11840,391 476,477 578,672 273,053 352,803 1 , 112 , 1+10 283,827 161,501 193,422 130,582 604,007 6 , 603,275 L I A B I L I T I E S Net amount of Federal Reserve notes received from Comptroller of the Currency 3la,Ull 1,068,673 253,710 279.030 139,573 206,997 616,161 152,916 75,S91* 81.007 63,084 317,095 3,595,551 298,067 198,182 17.743 67,864 35,251 77,164 12 4^5 177 211 1 708 670 55,063 109,701 1 , 299)054 Collateral received from Federal Reserve Bank: 178,824 lgi e paper TOTAL 75*895 544,957 134,022 167 ) 572 30,679 88,745 132,070 102,801 226,761 46,137 99*669 65,772 65,139 596,130 1,840,391 476,477 578,672 273,053 352,803 1,112,410 283,827 16 1,5 0 1 193,422 130,582 604,007 6 , 603,275
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