Board of Governors of the Federal Reserve System (U.S.), 1935- and Federal Reserve Board, 1914-1935. "October 24, 1920," H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks (October 24, 1920). https://fraser.stlouisfed.org/title/83/item/492662, accessed on April 18, 2025.

Title: October 24, 1920

Date: October 24, 1920
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image-container-0 STATEMENT FOR THE PRESS Released for publication St. 15.1.8 Sunday morning, October Federal Reserve Board, 24, 1§20; not earlier. October 23, 1920. CONDITION OF FEDERAL RESERVE BANKS Liquidation in seme volume of discounted and purchased bills also of Treasury certificates and a commensurate reduction of deposit liabilities are indicated in the Federal Reserve Board's weekly bank statement issued as at close of business on October 22, 1920 • Federal Reserve note circu- lation increased by 2.9 millions, while cash reserves show an increase of 2.U millionss As a consequence, the Banks' reserve ratio shows a gain for the week from U2.? to U3 .3 per, cent. Holdings of paper secured by Goverzmerit war obligations, including Treasury certificates, increased by 6.3 millions, while those of other dis- counted paper declined by 30*9 millions and those of acceptances - by 18.9 millions. A reduction of 20.7 millions in Treasury certificates on hand represents largely the amounts" of special certificates taker/by the Govern- ment during the week and to a smaller extent net liquidation of certificates, temporarily purchased from non-member banks • Total earning assets, 3,357 »7 millions, show a reduction of 64.3 millions since .the previous Friday. Of the total of 1199*1 millions of paper secured by Government war obligations, 635*8 millions, or 53 per cent were secured by Liberty bonds; 322.3 millions, or 26.9 per cent, by Victory notes, and 2U1 millions, or 20.1 per cent, by Treasury certificates, as against 52-8, 27•! and 20.1 per cent of a corresponding total of 11§2.8 millions reported the week before. Discounted bills held by the Boston, Philadelphia and Cleveland Banks include 243 *1 millions of paper discounted for the Federal Reserve Bank of New York and seven other Reserve Banks in the South and Middle West, while acceptance holdings of the Boston, Philadelphia and San Fran- cisco Banks are inclusive of 24.3 millions of bank acceptances purchased from the New York Bank#. As against an increase of about 1 million in Government deposits, re- serve deposits show a decline of about 89 millions, and other deposits, including foreign government credits and non-members' clearing accounts - a decline of 11.8 millions, while the "float" carried by the Reserve Banks and treated as a deduction from gross deposits was 30 <1 millions less than oh the preceding Friday* Calculated net deposits, in consequence, were 69.7 millions below the total given the week before. The only large increase in Federal Reserve note circulation, viz. by 17*4 millions, is reported by the Reserve Bank of Atlanta, other Reserve Banks viz. those at Boston, Philadelphia and San Francisco showing either substantial reductions or else only slight changes in their circulation figures• Federal Reserve bank note circulation increased by 0«3 million. The amount of gold with foreign agencies, in consequence of additional con- signments of gold by the Bank of England to the Federal Reserve Banks, shows a further decline of 6.6 millions« An increase of $98,000 in the paid-in capital of the Reserve Banks is due to the admission of new members and the increase in capital!zation of existing members largely in the Chicago and Minneapolis districts.
image-container-1 Released for publication Sunday morning, October 24, 1920; not earlier. St.l^ie. RESOURCES AND LIABILITIES OF TT3E TWELVE FEDERAL RESERVE BAXKS COMBISIEI). RESOURCES October 22 r 1920 October 15. 1920 Oct. ?4, 19 1C . Gold and gold certificates $161,438,000 $192,499,000 $242,375,000 Gold settlement fund - F- R. Board 389,069,000 321,753,000 465,535,000 Cold with foreign agencies 80.44l f 000 87.021,000 132.983,000 Total gold held by banks 630,948,000 661,273,000 846,893,000 Cold with Federal Reserve Agents 1,203,240,000 1,169,038,000 1,197,933,000 Gold redemption fund 160.423.000 l6l.790.000 101,779.000 Total gold reserves $1,99*+,6ll,000 $1, 992,101,000 2,l46,605,000 Legal tender notes, silver, etc. 162.659.000 162.810.000 6 7.956,000 Total reserves • 2,157,270,000 2,154,911,000 2,2l4,561,000 Bills discounted (Secured by Government war obligations 1,199,139,000 1,192,810,000 1,666,055,000 (All other 1,550,143,000 • 1,581,060,000 4l6,084,000 Bills bought in open market 300.666.000 319.520.000 368.846,000 Total bills on hand ' ' ' ~ 3,049,9^8,000 3,093,390,000 2,450,985,000 U. S- Government bonds 26,856,000 2D,856,000 27,095,000 U. S. Victory notes 69'COO 69,000 86,000 U. S. Certificates of indebtedness 280, 807000 301,66l,000 273. 585.000 Total earning assets 3,357,680,000 3,421,976,000 2,751,751,000 Bank premises 15,864,000 15,766,000 13,358,000 Uncollected items and other deductions fraa gross deposits 825,* 998,488,000 937,250,000 5$ Redemption fund against F. R. Banknotes 12,953,000^40/ 12,158,000 12,571,000 All other resources 5 T gjgfOOO 6.951,000 9.139,000 TOTAL RESOURCES 6,374 58? 000 6,610,250,000 5,938,630,000 LIABILITIES 1 oi Capital paid-in 97,692,000 97,59^,000 85,863,000 Surplus 164,745,000 164,745,000 .81,087,000 Government deposits 15,015,000 ^r 13,975,000 83,984,000 Due to members - Reserve account 1,779,02^550^ 1, 868,016,000 1,813,563,000 Deferred availability items 634,097,000 776,887,000 733,227,000 Other deposits, including foreign government credits 21,929.000 3 fk 33.74o.QQQ 98.878.000 Total gross deposits 2,450,©65,000 2,692,618,000 2,729,652,000 F. R. notes in actual circulation _ 3,356,199,000 3,353,271,000 2,753,457,000 F. R. Banknotes in circulation - net'liability 213,838,000 213,533,000 251,590,000 All other liabilities . 92.048.000 88.489.000 36.981.000 TOTAL LIABILITIES . 6,374,^7,000 6,610,250,000 5,938,630,000 Ratio of total reserves to net deposit and F. R. note fog liabilities combined ' 43.3$ 42-7$ 48-7$ Ratio of gold reserves to F.R. notes in circulation after 'setting aside 35f° against net deposit liabilities 47-3$ 46.6$ 57-6$
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Date: October 24, 1920
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