The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Sunday iricrning, O c t . 31; not e a r l i e r . Stf.153* F e d e r a l Reserve Board . October JO, 1920. ^ CONDITION OF FEDERAL RESERVE BANKS .of Aggregate g a i n s of 8.7 m i l l i o n s i n g o l d r e s e r v e s a n d / 1 0 .8 m i l l i o n s in t o t a l c a s h r e s e r v e s accompanied "by a r e d u c t i o n of a b o u t 5 m i l l i o n s i n F e d e r a l R e s e r v e n o t e c i r c u l a t i o n a r e i n d i c a t e d i n the F e d e r a l Reserve Board 1 s w e e k l y batik s t a t e m e n t i s s u e d as a t c l o s e of b u s i n e s s on October 1 29, 1920. Net d e p o s i t s show an i n c r e a s e of a b o u t 50 m i l l i o n s , c o r r e s p o n d - ing c l o s e l y t o the growth i n t h e t o t a l of d i s c o u n t e d p a p e r h e l d . As a consequence, t h e Banks', r e s e r v e r a t i o shows a s l i g h t d e c l i n e f o r the week from U j . 3 t o 4 3 . 1 p e r c e n t , H o l d i n g s of p a p e r s e c u r e d by Government war o b l i g a t i o n s , i n c l u d i n g T r e a s u r y c e r t i f i c a t e s , i n c r e a s e d by 4 . 8 m i l l i o n s , and t h o s e of o t h e r d i s - counted. b i l l s by 4 7 . 2 m i l l i o n s , w h i l e t h o s e of a c c e p t a n c e s p u r c h a s e d i n open m a r k e t show a d e c l i n e o f 2 . 3 m i l l i o n s . A r e d u c t i o n of 1 1 . 4 m i l l i o n s i n T r e a s u r y c e r t i f i c a t e s i s d u e l a r g e l y t o t h e redemption of 10 m i l l i o n s of s p e c i a l c e r t i f i c a t e s , h e l d by f o u r Reserve Banks t o cover advances to the Government. T o t a l e a r n i n g a s s e t s , 3,39^ m i l l i o n s , show an i n c r e a s e of 3 8 . 4 m i l l i o n s f o r the week. Of t h e t o t a l of 1203 *9 m i l l i o n s of p a p e r s e c u r e d by U. S . war o b l i g a t i o n s , 6 4 l . 5 m i l l i o n s , or 53*3 p e r c e n t , were s e c u r e d by L i b e r t y bonds, 3 2 2 . 5 m i l l i o n s , or 2 6 . 8 p e r c e n t , by V i c t o r y n o t e s , and 239*9 m i l l i o n s , or 1 9 ' 9 p e r c e n t , by T r e a s u r y c e r t i f i c a t e s , a s a g a i n s t 53, 2 6 . 9 and 2 0 , 1 p e r c e n t of a c o r r e s p o n d i n g t o t a l of 1 1 9 9 • ! m i l l i o n s r e p o r t e d t h e week b e f o r e . Discounted b i l l s h e l d by t h e Boston, P h i l a d e l p h i a and C l e v e l a n d Banks i n clude 2 4 7 . 1 m i l l i o n s of p a p e r d i s c o u n t e d f o r t h e New York R e s e r v e Bank and . seven o t h e r R e s e r v e Banks i n t h e South and Middle West, compared w i t h 243 .1 m i l l i o n s shown t h e week b e f o r e , w h i l e a c c e p t a n c e h o l d i n g s of, t h e Boston, P h i l a d e l p h i a and San F r a n c i s c o Banks a r e shown i n c l u s i v e of 13 .4 m i l l i o n s of bank a c c e p t a n c e s p u r c h a s e d from t h e New York Bank, a s a g a i n s t 24.3 m i l l i o n s , h e l d on t h e p r e v i o u s F r i d a y , Government d e p o s i t s were 3 *7 m i l l i o n s and members' r e s e r v e d e p o s i t s 26.3 m i l l i o n s - l a r g e r - than t h e week b e f o r e < Other d e p o s i t s , i n c l u d i n g c h i e f l y f o r e i g n Government c r e d i t s and non-members' c l e a r i n g a c c o u n t s , show a d e c l i n e of 0 . 6 m i l l i o n , w h i l e t h e " f l o a t " c a r r i e d by t h e R e s e r v e Banks and t r e a t e d a s a d e d u c t i o n from immediately a v a i l a b l e d e p o s i t s , was 2 0 . 5 m i l l i o n s l e s s than on October 2 2 . As a r e s u l t of t h e above changes, c a l c u l a t e d n e t d e p o s i t s show an i n c r e a s e f o r the week of 4 9 . 9 m i l l i o n s . As a g a i n s t a d e - c r e a s e of 4 . 9 m i l l i o n s i n F e d e r a l Reserve n o t e c i r c u l a t i o n F e d e r a l Reserve Bank n o t e s i n c i r c u l a t i o n show an i n c r e a s e of 1 . 1 m i l l i o n s . As a g a i n s t a r e d u c t i o n of $63,000 i n t h e p a i d - i n c a p i t a l of t h e New York Bank a combined i n c r e a s e of $104,000 i s shown i n t h e p a i d - i n c a p i t a l of t h e Boston and D a l l a s Banks, which i s c a u s e d m a i n l y by a d d i t i o n s t o c a p i t a l and s u r p l u s of e x i s t i n g member banks and, t o a s m a l l e r e x t e n t , by payments r e c e i v e d f o r F e d e r a l R e s e r v e s t o c k from newly a d m i t t e d members, The t o t a l p a i d - i n c a p i t a l of t h e Reserve Banks, 97 *8 m i l l i o n s , http://fraser.stlouisfed.org/ beginning of the year. Federal Reserve Bank of St. Louis shows a n i n c r e a s e of about 1 0 . 5 m i l l i o n s s i n c e the Released f o r p u b l i c a t i o n Sunday morning, October 31, 1920; n o t e a r l i e r . St.1534. RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED. RESOURCES October 29. 1920 October 22. 1920 Oct. 31. 1919. Gold and gold . c e r t i f i c a t e s $164,849,000 $163., 438,000 $254,027,000 Cold s e t t l e m e n t fund - F . R. Board 416,163,000 444,126,000 389,069,000 Gold w i t h f o r e i g n a g e n c i e s 74,686.000 80.441.000 129.921.000 T o t a l gold h e l d "by banks 655,69-8,000 630,948,000 828,076,000 Gold w i t h F e d e r a l Reserve Agents 1,175,118,000 1,203,240,000 1,205,576,000 Gold redemption fund 172.504.000 i6o.42i.ooo 104.348.000 T o t a l gold r e s e r v e s $2,003,320,000 $1,99%,611,000 2,138,000,000 Legal tender n o t e s , s i l v e r , e t c . 164,718,000 162.659.000 67.592.000 Total r e s e r v e s 2,168,038,000 2,157,270,000 2,205,592,000 B i l l s d i s c o u n t e d (Secured by Government war o b l i g a t i o n s 1,203,905,000 1,681,082,000 1,199,139,000 (All o t h e r 1,597,392,000 1,550,143,000 447,465,000 B i l l s bought i n open market 298.175.000 loo.666.ooo 394,355,000 T o t a l b i l l s on hand 3,099,672,000 3,o49,948,ooo 2,522,902,000 U. S. Government bonds 26,868,000 26,856,000 26,845,000 U. S. V i c t o r y n o t e s 69,000 69,000 84,000 U. S. C e r t i f i c a t e s of indebtedness 269.434r 000 280.807.000 274.325.000 Total earning a s s e t s 3,396,o43,ooo 3 , 3 5 7 , 6 8 0 , 0 0 0 2,824,156,000 Bank p r e m i s e s 15,993,000 15,864,000 13,357,000 U n c o l l e c t e d i t e m s and o t h e r d e d u c t i o n s from gpess d e p o s i t s 742,976,000 *825,74O,OOO 875,037,000 5$ Redemption fund a g a i n s t F . R- Bank n o t e s 12,854,000 12,953,000 13,333,000 All other resources 5,703,000 *5,401.000 7.869.000 TOTAL RESOURCES 6,341,607,000 *6,374,908,000 5,939,344,000 L I A B I L I T I E S Capital paid-in 97,753,000 86,013,000 97,692,000 Surplus 164,745,000 164,745,000 81,087,000 Government d e p o s i t s IS, 7 54,000 15,015,000 100,465,000 Dye t o members - Reserve account 1,805,661,000 *1,779,345,000 1,833,481,000 D e f e r r e d a v a i l a b i l i t y items 571, 807,000 634,097,000 693,766,000 Other d e p o s i t s , i n c l u d i n g f o r e i g n government c r e d i t s 21-107.000 21.929.000 97.843.000 T o t a l gRoss d e p o s i t s 2,417,529,000 *2,450,386,000 2,725,555,000 F . R. n o t e s i n a c t u a l c i r c u l a t i o n 3,351,303,000 3 , 3 5 6 , 1 9 9 , 0 0 0 2,752,876,000 F . R. Bank n o t e s i n c i r c u l a t i o n - n e t l i a b i l i t y 214,961,000 213,838,000 254,933,000 All other l i a b i l i t i e s 95,316,000 92.048.000 38. 880. 000 TOTAL LIABILITIES 6,341,607,000 *6,374,908,000 5,939,344,000 Ratio of t o t a l r e s e r v e s t o n e t d e p o s i t and F . R. note l i a b i l i t i e s combined 43.1$ 43 -3fo 47.9$ Ratio of gold r e s e r v e s to F.R. n o t e s i n c i r c u l a t i o n a f t e r s e t t i n g a s i d e 35f° a g a i n s t n e t d e p o s i t l i a b i l i t i e s 47.2% 56.6$ 47.3i •Revised f i g u r e s . R e l e a s e d f o r p u b l i c a t i o n Sunday morning, October 31, 1920; n o t e a r l i e r . St.1^34 b RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS OCTOBER. 29, 1920. R E S O U R C E S ( I n t h o u s a n d s of d o l l a r s ) F e d e r a l Reserve Bank of Boston New York P h i l a . C l e v e l - Richm. A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. D a l l a s San F r a n . T o t a l Gold and g o l d c e r t i f i c a t e s 8,023 82,470 1,326 10,538 2,455 6 , 4 3 4 24,448 2,805 7,235 692 4,975 13,448 164 849 Gold s e t t l e m e n t f u n d - F . R . B o a r d 30,299 6 6 , 2 ) 0 53,820 7 8 , 3 4 2 28,956 7 , $ 4 6 62,866 1 2 , 1 1 8 9 , 9 4 9 22,622 3,812 39,583 4l6^l63 6,142 3.670 2,696 8.913 3.520 2.022 3.595 1.947 3.445 74.686 Gold w i t h f o r e i g n a g e n c i e s 5,468 27.276 5.992 T o t a l g o l d h e l d by banks 43,790 175,99b 61,138 9 5 , 0 2 2 35,081 1 6 , 6 7 6 96,227 1 8 , 4 4 3 1 9 , 2 0 6 26,909 1 0 , 7 3 4 56,476 655698 Gold w i t h F . R. A g e n t s 130,705 2 6 2 , 7 3 3 1 1 6 , 7 7 8 1 4 2 , 0 6 5 4 i , 6 o 4 64,668 176,381 4 8 , 8 1 6 26,851 41,320 28,560 94,637 1 175 118 Gold r e d e m p t i o n f u n d 20,076 37,965 1 2 , 5 1 1 1 5 , 2 5 3 1 1 . 6 l l 6,759 35.459 5,794 3.293 4,088 7,263 12.432 172L504 Total gold r e s e r v e s 194,571 476,694 190,427 252,340 88,296 8 8 , 1 0 3 308,067 73,053 49,350 72,317 4 6 , 5 5 7 163,545 2 , 0 0 3 , 3 2 0 Legal tender n o t e s , s i l v e r , e t c . 8,6o4 129.916 717 1.980 497 1.6l6 8.375 7.309 88 1.918 3.177 521 164.718 Total reserves 203,175 606,610 1 9 1 , 1 4 4 254,320 88,793 89,719 316,442 8 0 , 3 6 2 4 9 , 4 3 8 74,235 4 9 , 7 3 4 164,066 2 , 1 6 8 , 0 3 8 B i l l s discounted: (a) S e c u r e d cy Govt.war o b l i g a t i o n s 95,106 515,947 115,466 6 3 , 1 0 8 4o,35& 68,961 144,950 4 3 , 9 2 8 8 , 6 6 3 33,825 20,210 5 3 , 3 8 5 1 , 2 0 3 905 Another 96,011 421,276 60,223 158,075 72,179 7 1 , 7 1 2 312,887 76,726 76,007 8 1 , 9 5 2 5 7 , 4 2 8 1 0 6 , 9 1 6 1 , 5 9 7 392 B i l l s bought i n open market (b) 31,985 88,546 1 9 , 2 5 2 39.956 5.663 2 . 2 5 3 44,221 1,488 1.398 2,313 1 . 0 7 0 60.230 298.175 T o t a l b i l l ? on h a n d 223,102 1 , 0 2 5 , 7 6 9 194,941 261,139 1 1 8 , 1 9 8 142,926 506,058 122,142 8 6 , 0 6 8 118,090 7 8 , 7 0 8 220,531 3 , 0 9 9 , 6 7 2 u. s . Goiromnsnt bonds u. Victory notes U. F . C e r t i f i c a t e s of i n d e b t e d n e s s Total earning a s s e t s Bank p r e m i s e s U n c o l l e c t e d i t e m s and o t h e r de- (Suctions from gross deposits" 5$ Redemption f u n d a g a i n s t F,R. 3ank n o t e s All other resources TOTAL RESOURCES (a) Includes b i l l s rediscounted f o r o t h e r F . R . Banks, v i z : (b) I n c l u d e s b a n k e r s ' a c c e p t a n c e s boiiglit from o t h e r F . R . 3 a n k s : Without t h e i r endorsement 555 l,4b2 1,434 834 1,233 54,990 147,075 63,589 74,639 59,150 2,620 1,300 1,139 451 113 4,490 1,153 1 8,481 12,828 9 4 , 6 6 5 139,786 603 885 116 8,867 3,979 .• 69 8,300 11,301 269,434 9 0 , 9 8 7 234,464 3 , 3 9 6 043 1,323 231 15,993 2,632 26,868 29,337 94,366 40,503 22,501 60,295 51,916 44,615 742,976 623 512 916 586 665 12,854 5 50 10 3 21,520 68,24? 30.696 23.299 1 2 . 2 6 2 1 5 . 6 6 6 3 9 , 6 l S 1 7 , 2 1 6 245,182 1 , 0 9 5 , 5 2 8 227,071 285,282 131,693 1 5 8 , 7 0 8 552,166 140,511 2,098 4,102 657 1,178 1,285 623 2,l42 866 1,072 537 1,022' 651 320 503 289 2l6 2,467 639 390 109 263 908 359 5r701 507,054 1,856,957 484,412 616,878 281,661 279,106 968,222 263,255 l67,828 276,380 195,454 444,400 6,341,607 81,19$ - 3,197 - ' 27,129 138,750 - - - - - 10,072 - - - - - - - . 247,078 ' 93 13,362 Released f o r p u b l i c a t i o n . Sunday morning, October 31, 1920; n o t e a r l i e r . S t . 1534c. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS AT CLOSE OF BUSINESS OCTOBER 29, 1920. ( i n thousands of d o l l a r s ) L I A B I L I T I E S F e d e r a l Reserve Bank Bos ton New York Phi l a . C l e v e l . Richm. A t l a n t a Chicago St .Louis Minn. Kans.Cy. D a l l a s San F r a n . Capital paid-in 25,244 7,669 8,426 10,300 5,257 3,960 13,766 4,306 3,385 4,506 4,052 6,882 Surplus .12,351 51,308 13,069 13,712 8,067 7,050 23,917 5,884 5,178 8,395 4,152 11,662 Government d e p o s i t s 1,682 %,556 2,129 987 1,681 438 765 1,920 883 1,731 851 1,125 Due to members - r e s e r v e account 122,^70 703,701 106,806 150,584 59,3%l >+9,283 258,978 60,921 44,534 77,214 52,694 119,135 D e f e r r e d a v a i l a b i l i t y items 43,428 101,358 53,373 60,874 46,709 23,308 63,562 38,283 20,309 53,%6o 32,470 34,673 Other d e p o s i t s i n c l u d i n g f o r e i g n government c r e d i t s IMP 12.572 418 461 920 306 255 J%2 3.072 315 1,317 _589_ Total gross deposits 168,326 822,187 163,228 212,906 107,986 73,344 324,622 101,713 66,032 132,823 86,357 158,005 F . R. n o t e s i n a c t u a l c i r c u l a t i o n 296,168 876,706 273,266 352,123 146,116 177,73% 55%, 186 137,898 82,714 111,575 91,071 251,746 F.R. Bank n o t e s i n c i r c u l a t i o n net l i a b i l i t y 17,324 39,617 21,619 21,763 11,524 13,934 37,205 10,451 7,93% 15,377 7,615 10,598 All other l i a b i l i t i e s 5.216 — 41.895 4.804 6,074 2.711 3.084 l 4 . 5 2 6 3.001 2.585 3,70% -2,207 5,507 TOTAL LIABILITIES 507,054 1,856,957 484,412 616,878 281,661 279,106 968,222 263,255 167,828 276,380 195,%5% 444,400 R a t i o of t o t a l r e s e r v e s to n e t d e p o s i t and F.R. n o t e l i a b i l i t i e s combined, per cent 49.6 4o.4 39.2 4oj 39.6 44.9 45.5 4o.5 40.3 39-1 51-3 51.9 Contingent l i a b i l i t y a s endorser on memoranda d i s c o u n t e d paper r e d i s c o u n t e d w i t h o t h e r F . R. Banks 48,000 l4,275 36,122 7,050 37,305 26,603 44,895 32,828 Bankers' acceptances sold to o t h e r F.R.Banks without endorsement 13,362 Contingent l i a b i l i t y on b i l l s purchased for foreign correspondents l,l68 6,080 1,280 1,312 4i6 432 768 784 576 1,904 752 736 FEDERAL RESERVE NOTES OUTSTANDING AM) IN ACTUAL CIRCULATION F . R. n o t e s o u t s t a n d i n g 312,492 986,339 284,386 370,252 151,479 183,492 632,736 156,370 84,377 117,457 95,369 291,421 F . R . n o t e s h e l d by banks 16,3# 109,633 11,120 18,129 5.363 5.758 78.550 18.472 1^66] 5.882 , , . 4.298 39.675 F . R. n o t e s in a c t u a l c i r c u l a t i o n 296,168 876,706 273,266 352,123 146,116 177,73% 55%, 186 137,89s 82,71% 111,575 91,071 251,746 B i l l s discounted B i l l s bought i n open market U. S. C e r t i f i c a t e s of i n d e b t e d n e s s DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES Within 15 days 16 to 30 days 31 to 60 days 6 l t o 90 days Over 90 days 368,446 28,710 l,59l,%0$ 500,67$ 51S,06a 115,046 82, 560 27,330 73,%39 8,100 202,946 28, 883 1%,135 15,370 Total 97.753 164,745 18.754 1,805,*661 571,807 21.307 2,417,529 3,351,303 214,961 95,316 6,341,607 43.1 247,078 13,362 16,208 3,666,170 31%.867 3,351,303 Total 2, 801,297 298,375 269,434 r . Released for p u . U c . U c n S u n * , ™ . OctoWJl. „ COS, OF * , % * , < * » » =9. 1 * 0 . ( I n t h o u s a n d s of d o l l a r s ) Boston F e d e r a l Reserve Agent a t R E S O U R C E S 117,300 F e d e r a l Reserve n o t e s on hand 312,492 F e d e r a l Reserve n o t e s o u t s t a n d i n g Collateral security f o r Federal Reserve n o t e s o u t s t a n d i n g : 5,900 Gold and g o l d c e r t i f i c a t e s 19,805 Gold r e d e m p t i o n f u n d Gold s e t t l e m e n t f u n d - F . R . B o a r d 105,000 Eligible paper181,78? Amount r e q u i r e d 41,315 Excess amount h e l d TOTAL L I A B I L I T I E S F e d e r a l Reserve n o t e s r e c e i v e d from Comptroller - gross L e s s amounts r e t u r n e d f o r destruction Net amount of F e d e r a l R e s e r v e n c t e s r e c e i v e d f r o m Compt r o l l e r of t h e Currency Collateral received from F e d e r a l R e s e r v e Bank: Gold E l i g i b l e paper TOTAL 4 783,599 New York •141,000 Phila. Cleval. Richm. A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. 35,280 30,000 23,339 32,025 - 58,875 986,339 284,386 370,252 151,479 183,492 209,608 8,125 - 15,389 45,000 101,389 20,o4o 90,000 l6 Q 2 I|q:m4 3,104 38,50° 3,500 3,168 58,000 60,600 19,380 632,736 156,370 8,236 168,145 7,645 84,377 117,457 3,860 13,052 3,925 l»599 41,031 7,560 12,200 3,96o 37,3bO D a l l a s San F r a n . 12,790 Total 4 , 8 8 0 . ,518,649 95,369 291,421 3,666,170 9,831 5,995 12,734 277,776 13,876 80,761 107,222 790,120 66,809 196,784 2,491,052 ^5 j S:iS»!:% 'S:™ kits SJLkaa 11,899 6,592 509,594 2,382,772 609.610 795,187 332,692 449,929 1,377,722 346,449 188,729 284,153 215,427 594,314 8,360,583 726,400 2,308.300 660,380 690,520 380,480 405.980 1,161.180 383.400 161.72C 262.020 196.160 524.960 7,881,500 ^ l.lS0.q6l ^ Pns.fife 163.613 429,792 1,127,339 319,66b 400,252 174,818 242,367 467,,"4 ^ 89,698 137.003 88.001 228.659 3.6?6.681 693,336 175.75° 92.022 125.017 108,159 296,301 4,184,819 t £ J , 0 0 1 1 6 ! 2 7 0 % 8 : o % T * & 783.599 2,382,772 609,610 795.187 332,693 449,929 1.377.722 346,44; 188,729 284,153 215,427 554,314 8,360.583
@FedFRASER