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Released for publication
Friday morning, Oct. 7;
.not earlier.
STATEMENT FOR THE PRESS
.
S t.2319*
Federal Reserve Board
October 6 , 1921.
CONDITION OF FEDERAL RESERVE BANKS
Aggregate increases of $25,100,000 in Federal reserve note circula
tion, as against a total decline of about $ 2 1 , 000,000 in deposits and a
further gain of $4,300,000 in cash reserves, are indicated in the Federal
Reserve Board’ s weekly consolidated statement issued as at close of business
on October 5, 1921. The banks' reserve ratio regains unchanged at 69 per
cent.
Federal reserve bank holdings of bills secured by United States Gov
ernment obligations show an increase for the week of $4,900,000, while
other discounts on hand declined by $9 , 700, 000. Holdings of acceptances
purchased in open market are shown $3 , 200,000 larger than the week before,
those of U. S. bonds and notes show a decline of $1,000,000, Pittman cer
tificates used as cover for Federal reserve bank note circulation show a
further reduction for the week of $8,000,000, while other Treasury certifi
cates, largely held -under repurchase agreements by the New York reserve
bank, show an increase for the week of $6,700,000. Total earning assets,
as a re suit of the changes noted, were $3 , 900,000 less than the week before.
Of the total holdings of $493,900,000 of bills secured by United
States Government obligations $342,300,000, or 69 .0 per cent, were secured
by Liberty and other United States bonds, $123,500,000, or 24*9 per cent,
- by Victory notes, $7,500,000, or 1.5 per cent, - by Treasury notes, and
$22,600,000, or 4.6 per cent, - by Treasury certificates, compared with
$346,900,000, $110,800,000, $6 , 300,000 and $26 , 900,000 reported the week
■
before.
A substantial decrease from $65,300,000 to $48,800,000 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
$24,900,000 to $19,500,000; Atlanta reports a reduction in bills redis
counted with t'ne Boston and Cleveland banks from $20,100,000 to
$ 1 7 , 200, 000; Minneapolis was able to redeem the entire amount of
$5,400,000 of paper held under rediscount with the New York bank on the
previous Y/ednesday, while Dallas shows a reduction of its rediscounts .
from $14,900,000 to $12,100,000, the latter amount all held by the Boston
cank.
Government deposits are stated $1,800,000 larger than the week before,
reserve deposits show a decrease of $22,400,000, while other deposits,
composed largely of non-members’ clearing accounts and cashier's checks,
show a reduction of $400,000.
Federal reserve note circulation shows an increase for the week of
$25,100,000, New York, Atlanta and San Francisco reporting the largest
additions to their outstanding note circulation. Net liabilities of the
reserve banks on Federal reserve bank notes in circulation, on the other
hand, show a further decline of $1,800,000, the total for the first time
since 1918 falling below the $100 , 000,000 mark.
A further gain of $6,600,000 is shown in the gold reserves, the
October 5 total of $2,732,599,000 indicating a gain since January 1 of
$ 669, 800, 000, as against a loss of $40,500,000 in other cash reserves,
i. e ., silver and legals.
■wiv
■
f
«'*►*'
■
«-v***■
*• *•
Released fo r publication Friday morning, October J, 1921; not e a r lie r.
St.2319a-
RESOURCES AND LIABILITIES
OF TEE TWELVE FEDERAL RESERVE BAlKS COMBINED.
(in thousands of dollars)
R E S O U R C E S
Oct. 5, 1921
%%g,%72
Gold and gold certificates ..............
Gold settlement fund - F.R.Board . . .
U15.175
Gold with foreign agencies ..............
Total gold held by banks . . . . .
863,0U7
Gold with Federal Reserve Agents
. . 1 , 756,522
Sept. 2g, 1921
UU2 J 07
1+15,765
Oct. 8 , 1920.
216,763
391,97%
S0,%09
699,1%6
1,1%2,%12
15%,766
2 ,732,599
858,%72
1 , 759,065
108,%29
2,725,966
2 ,882, 9%2
..152,112
2,S7S,6S5
1 ,996, 32%
l6 l.9%%
2,158,26s
%95,s66
902,255
U2.070
U90.927
911,976
38,Sg9
1,217,098
1 ,578,573
305,690
1,%%0,191
l,UUi,792
3,101,361
35,^33
36, '4S5
26,925
167,375
19,05%
259,375
l'4 i57b
l ,662,053
175,375
12^321
1,066,051
3 ,%02,237
29,501
29,172
15.63^
S ,8%2
558,105
15,906
9 .0S6
50g,ig5
.... 15.,9%7
11,666
795,6og
5 ,9%g
5 ,157,3^9
5,107,126
6,389,361
Capital paid in
...............................
. 103,0^6
Surplus ....................................
2 I3 ,82%
Reserved for Gov't, franchise tax . .
51, 7^1
Deposits:
Government . ...................... ...
59 , 00%
Member bank - reserve account . . . l , 6i 3 ,iU 9
All o t h e r ............................................
2%.179
10310'49
213,S2%
51,65%
97,519
i 6%,7%5
112,370
Legal tender notes, silver, etc.
. . .
Total r e s e r v e s ...................... ...
Bills discounted:
Sec. by U. S. Government obligation:
All other . . .................................
Bills bought in open market . . . .
Total bills on hand
..................
U. S. bonds and notes , ......................
U- S. Certificates of indebtedness:
One-year certificates (Pittman Act)
Bank premises . . .................................
5^ Redemption f-und against
F. R. Bari n o t e s ............................. ...
Uncollected items .................................
All other r e s o u r c e s .................. ...
TOTAL RESOURCES
.........................
L I A B I L I T I E S
Total deposits . . .........................
1 , 696,332
F.R. notes in actual circulation . . . 2 ,US2,313
F.R. Bank notes in circulation net liability ....................................
99,602
Deferred availability items ...............
%gg,7%l
All otner l i a b i l i t i e s .......................... ___2.1,150
TOTAL LIABILITIES
3 ,157,3^9
57,253
1,635,572
_ 2 _ !L 5 S 0
1,717, ’405
2 ,%57,196
^3,365
1 , 825,906
27,6%g
1 , 896,919
3 , 322,123
21, 326.
213,15%
609,980
8%,921
5 , 107,126
6 , 339,361
101,372
%%1 ,300
Ratio of total reserves to deposit and
F.R. note liabilities codDined . . .
69 .0#
69. 0^
* 1+2 . 3*?
Ratio of gold reserves to F.R. noies
in circulation after setting aside
35/J against deposit liabilities . .
92 . 2^j
9 2 . 7..
*%c. 9°j
*Calcvl; ^3d on oa^is Oi r.su deposits and F. R. notes in circu lation.
Released for publication Friday morning, October {, 1321; not earlier.
S t. 25190 RESOURCES AND LIABILITIES OE THE FEDERAL RESERVE BANKS AT CLOSE OE BUSI1IF.SD OCT. 5, 1921.
(In thousands of dollars)
R E S O U R C E S
ITederal Reserve Bank of
Boston New York Phila. Cleve.
Rich. Atlanta Chicago St.Louis Llinn, Kans.Cy. Dallas San Fran.
Total
1+1+8,1+72
Gold and gold certificates
8,301
357,210
1,859 12,332
2,867
5,019 22,430
3,167
8,867
2,276
6,060 18,0SU
dO, 0^0
0 , Vd-C.
,‘tlO
uoxa sex.T.iemenTi xuna - i .±t.i5oara
D »00 j Ol,
“+X? ,A I'D
2£jl.U2...
.
JJJ
..SQj J-29863, 61+7
6 l ,080
389 , 68*+ 67,017 58,088 • 2U ,239 11,6 72 103,670 22,683 22,398 30,93*+ lU ,682 57,500
Total gold held by banks
176,213
Gold with F. R. Agents
575,828 11+7,372 177,281 32 , 071+ U9.391 308,396 56,569 l S , 32l+ 35,657 11,6 76 167,801 1 , 756,582
Gold redemption fund
15,000
6,586
6 . 26U
17,166
9.720
1+.053
7.167
112.370
5.076 31.877
3,685
3.271
2,505
Total gold reserves
980,512 220,975 21+1,633 66,033 66,139 1+U3 ,9^3 22,937 1+3,227 69,862 30 , 1+11 232 , 1+68 2 , 732,599
25*+, *+59
Legal tender notes, silver, etc.
Total reserves'
Bills discounted: (a)
Secured by U.S. Govt, obligations
All other
Bills bought in open market
6,762 JL991
61,538
8,007 18,851 11+.195
1+.625
270 , 01+0 1 , 01+2,050 227,737 21+7 , 621+ 70 , 65s • 7l+,lU6 1+62 , 791+ 97,132
15,581
_
116,508
67,600
26,709
52,122
3 . 2U1
159,711+ 26,555
18,667 ... 1,353
Total bills on hand
82,072
294,889
U. S. bonds and notes
1 , 36s
U. S. Certificates of indebtedness:
One-year certificates (Pittman Act)
All other
Total earning assets
Bank premises
5/j Redemption fund against
F. R. Bank notes
Uncollected items
All other resources
TOTAL RESOURCES
(a) Includes bills discounted for
other F. E. Banks, viz:
871
99.2U7
*+,267
1+0 , 071+' 26,957
90,365 71,913
2,010
3,670
1+09
*+,263
1+3,636
7!+,125
69,795’ 27,337 10 , 711+ 19,189
63,037 11+5,247 1+8, S8l+ 59,878 53,600
520
50U
5.083
3.907
36,921
95,508 132,Ul+9 102,51+0 105,0'41 218, 9U9
76,725
70,592
73,309
1+.1+99
1 , 21+6
117
8,877
3,760
8 , 56!+ 25,112
209
1
1,391
362 , 1+92 1 1 5 , 1+70 150,801 107,533 12l+,005 21+9,951
l+,988
2 , 51+0
5,776
3,027
871
533
9,06 8
111
i+,9S0
87,150
2,526 • l,*+53
*+9,276 18,280
1 5 . 801 ■
229
81+1+
1,233
10,399
17,299
627
6,320
27 _____ 51
75,716 8S ,557
690
3, *+55
6,207 _ 3,91*+
150 , 31+3
36 , 61 s 236,382 2 , 882, 91+2
9,567
50,916
70
i+l+,1+95
80,021+
3.0U5
1+95,566
902,255
1+2,070
60,553 1 2 7 , 561+ 1 , 1+1+0,191
2 , 61+3
228
35, *+33
7,880
167,375
.._...363. .. 19,05*+
65,096 136,035 1 , 662,053
1,900
2,055
672
29,501
156
l+l+U
S , 8l+2
1+22
1,792
700
1 , 2U0
263
526
1,661+
523
196
Ul+,911
133,017
1+5-,6l 7
*+6,599
1+7,526
19,220
65 , 11+1
33 ,*+93
1 6 , 01+7
1+0 , 1+51+ 26,585
3U,!+95
558,105
1+87
3,078
1+38
1 , 021+
389
817
818
676
I.U 17
U , 1+96
15,906
1 , 2 10 -
916
1+19,371+ 1,553,205 390,1+95 1+50,315 228,909 219,585 786,368 219,7*0 136,961 207,91+3 131,927 U12.52U 5 , 157 , 3^9
2 1 ,si+o
19,518
-
7,^63
-
-
-Us,821
R eleased fo r p u b lic a tio n F riday m orning, O ct. 7, 1921; not e a r lie r .
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BATIKS AT CLOSE OF BUSINESS OCT 5, 1921.
s t . 2319 c.
(In thousands of d o lla r s )
F ed eral B ese :ve Bank
Boston Ne* York P M la c L J e * V i c l ' la a Z t ! Chicago S t.L ou is Minn. Kans.C^. D allas San Fran.
T otal
C ap ital paid in
Surplus
3,555
4,
533
4
,314
7,369
103,046
16,342
d :° f s n f i t
l l 'M
1*,1“ 5 130,536
" ' 3“8
u,56?
11,026
8,708
9
,n 4
R eserved fo r Govt, fr a n c h ise tax
7,303
9,330
7,113 15,207
213,824
2,684
19.S59
3,4os
a
’
564
2,475
3,620
9,299
D e p o sits;
1,327
1,95*
1.314
2,737
51,741
Goverrment
878
1 8,961
2,838
4,142
2,914
1,753
8,915
2,344
5,678
1,769
Memoer bank — reserve account
4,896
3,916
59,004
107,711
4o,74l 63,221 41,101 111,7 5 7 1,613.149
59,^79
131'
7,
7
^
51'
117
'*1
>
S35
232,610
A ll eth er
s*3
11,026
1,396
746
437
359
2 , 5^7
566
S 57
T otal d ep o sits
567
359_ 4,516
24,179
109, 402’ 6597752 ‘ 106>21TTJE7G & —5 r ' L
5
M
6
8
5
3
,9
4
7
244,062
62,680 46,985 65,557 45735^” 120,129 1,5957^32
F . R. n otes in actu al c ir c u la tio n
234,718
642,293 205:264 223,868 109,647 134,064 423,145 103^
57,928 73,704 42,074 232,192 2,^22,313
F * R*
n otes in c ir c u la tio n n e t lia b i.-.i ty
8,038
29,284
5,871
9,817
3,443
7,769
9,955
4 212 3,424
D eferred a v a ila b ilit y item s
11.559
99,602
3,033
3,197
38,914
11 i ’ kn?
2,i*36
42,719 4 i , i 4 i 16,302 51,020 33U 12 14,562 40,109 27,349 29,769
488,741
A ll oth er l i a b i l i t i e s
1,342
_____ 4,405
99b
1,3 1 7
1,303
1 , 0^0
4.00^
1 pic; 1,250
1, 6S-8
1,864
1,337
TOTAL LIABILITIES
?r -750
1
3
6
^
S
T
207^43 131.$27^+127524 5,1577349
B a tio o f to ta l reserv es to d e p o sit and
W S5
n o te ‘l i a b i l i t i e s combined., per c en t 72*5
80.0
73a
68.7
43.1
4 1 .7
69.4
58.5
--
C ontingent l i a b i l i t y on b i l l s purchased
fo r fo r e ig n correspondents
B i l l s discou n ted
B i l l s bought in open market
U* S- C e r tific a te s of indebtedness
wt
i
4 i .6
C o n tin e n t l i a b i l i t y as endorser on
d iscou n ted paper red iscou n ted w ith
oth er F . R. Banks
F. R. n otes outstanding
F . R. n o tes held by banks
F . R. n otes in a ctu a l c ir c u la tio n
■
. ....
2,442
252,699
17,981
234 , 71s
12,122
2,676
r t-
2,743
19,518
17,195
1,639
1,204
'
4 i,4
53*2
12,108
3>9S1
X*572
903
1,606
FEDERAL RESERVE NOTES OUTSTANDING AND IN.ACTUAL CIRCULATION
22? “S3y 2k^>018 n 7,358 139,877 467,731 128,292 60,310 81,574
-^00^6^3__ 24,575 21,210
7,711
5,813 44,586 24,876
2,382 7.£70
642,293 205,264 223,868 109,647 134,064 423,145 103,415
870
22,847
19,129
235,802
6,229
12,500
7,271
11,006
69.0
—
48,821
1,539
33,297
45,874 284,325 2 , 795,943
3,800 52,133
313,630
577928~737754~ 42,074 232 , 192 '274fc2,313
DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATUFIT]
W ithin 15 days
16 to 30 days
31 to 60 days
6l tc 90 days
Over 90 days
813,342
161,863
67*1
154,862
5,652
18,850
32,252
71
124,944
Total
1,398,121
42,070
186,429
Released for publication Friday rcornii.g’ Oct- 7 , 1921; net e a r l i e r .
FEDERAL RESER/E AGENTS' ACCObl.TS AT CLOSE OF BUSINESS OCT. 5, 1921
2319 a.
, T
Federal R eserve Agent a t
RESOURCES
S
Bs ooston
^on
^
' E
^
F
S
Beserve notes outstanding:
1*
^
gold and gold certificates
Gold redemption fund
S
02 i
a
c
S
e
a
s
s
r
;
S
,
S
I
;
S
!
r
•
S
B
r
t
o
a
r
d
Mew
h ila
ipvp n R ich. A tlan ta Chicago S t.L o u is Minn. Kans.Qy. D a lla s San Franw York
lork Pr iu
la . pCleve^
i 5 :* 3 illfv
5,6CO
20,613
1 5
0
396,925
17 903
' 0 0 0
1
d
6
1
T0TAT'
:
Ifi QK^
1
^
18,375
oo£
i
1 3 0 : 3 0 9
| . , J
m
3
9
-
b
:
o
o
x n^h.
o
2
9
: o
o
H
3 400
*
3
: 5 0
i S 'M
nr- 7r~n
o hm
o
j 'M i
4
llf £
37
« : $
6 no
0
:
7 i
i
;
harp
13>G52
j
2 , % : $
c 7m
6>701
-
1?*%,
»
q7 g
Total
g
:
f
t:U l
„
.
^ 50>l63
-
7
1
-
^
. 3 7
6
i
61 Q.U84 1 , 914,927 484,994 592,669 271,588 366,155 1 , 1 5 ^ 1 2 1 289,839 15 s . 147 194,965 138,136 611,401 6 , 793,426
LIABILITIES
~~
~~
:
— -■
-
- ...
........... .
Bet amount of Federal Reserve
notes received•from Compt
x
.
n
e
,
o
f
t
h
e
c
u
r
r
e
n
c
y
3
5
2
, 1
9
9
1
.
0
6
9
. 6
8
6
2
5 0
,
0
5 9
2
S
9
,
1
5
S
1
3
7
. 6
0
7
2
1
1
. 7
5
0
6
2
6
. *
1
1
1
5
6
,
5
5 2
7
1
- 2
5
5
8
6
. 0
! *
,
6
6
, 3
2
6
3
1
6
, 2
6
5
3
. 6
3
3
, 7
0
2
Collateral received from
Federal Reserve Bank:
?-°-d v,
Eligible paper
T0TAL
176,213
575,828 l!+7 ,372 177,281 32 , 07^ 1+9,391
308,396
_ ^ 0 7 2 _ . 2b9 ,4l 3 87<563 132,230 101,907 105,014 - 2 1 8 ^
56,569
18,324
35657
11 fTfi lfi?
fe!718
68^8
73!294
S i 134 127
i 7«:
61° >i+g4 !» 91^927 484,994 598,669 271,588 366,155 1 .1 5 M 2 1 289,839 158,147 194,965 138,136 6 1 1 ,4oi 6,753,426
@FedFRASER