Full text of Marriner S. Eccles Papers : Analysis of Reserve Position of Member Banks, Week Ended Wednesday, June 25, 1941, Box 92, Folder 14, Item 7

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```ANALYSIS OF RESERVE POSITION OF MEMBER BAMS, WEEK ENDED WEDNESDAY, JUNE 25, 19^1

CONFIDENTIAL

Table 1—Assuming an increase in reserve requirements to twice basic statutory reserve requirements
(fffr nn btomm.i of daily figures; amounts in thousands of dollars)
Bliti
Country banks
Central Reserve
All
Reserve
city banks
In places with a population of—
city
member
Total
Less than
100,000 15,000New York
Chicago
banks
banks
100,000
15*000
and over
Reserve percentages, if increased to
twice basic statutory requirements»
20
lk
26
lk
On demand deposits
26
Ik
Ik
6
6
6
6
On time deposits
6
6
6
1« Banks with reserve balances sufficient to meet the increase
in reserve requirements:
Number of banks
Excess reserves if requirements ?/ere increased
2. Banks that could meet the increase by converting not more
than half of their bank balances into reserve balances:
Number of banks
Deficiency in reserves before converting bank balances
Excoss reserves after converting half of bank
balances into reserves
3» Banks that would have to provide additional reserves after
converting half of bank balances into reserve balances:
Number of banks
Deficiency in reserves before converting bank balances
Deficiency in reserves after converting half of bank
balances into resorves

26

5,065
¿¿,127,500

1,673,301

8
307,908

265
1,^32,567

I Ma

9

k

79

-67,1+08

-1,971+

-2,325

-3I+,695

5to,973

2,1+02

2,893

213,1423

13
+

1

1

i+,766

138

713,52!+

189,11+3

266,1+22

3,895
257,959

1,31+9
-28,l+ll+

-6,566

60

263
-12,1+32

-9,1+16

322,255

80,692

151,272

90,291

1+1

l
-18

5

-567

-52

-782
1 . All member banks:
+
Number of banks
Excess reserves on present basis
Excess reserves if requirements were increased to
twice basic statutory requirements

-1,230

-611

-1+63

-25

-29Ì+

- 11+

3I+5

6,156

199
229,631+

36

12

6,5i+9
5,230,1+1+7

2,201,5146

i+io, 1 6 0

]+, 058,662

1,670,760

733

-135
-56
1,001
326,163

305,583

1,71+9,663

869,078

68l+,l+99
182,559
253,855
1,397,820
Note: Due to the fact that balances due from banks are deductible from demand deposits subject to reserve, a withdrawal of such balances results
in seme increase in required reserves. If allowance is made for this, two banks would move from group 2 to group 3 an<* ^ould have small
deficiencies in reserves aft®r converting one-half of bank balances into reserve balances.

B-1259

(Rovised)

1,026

35

-458

-221+

i+,956
313,281
21+8,085

CONFIDENTIAL

ANALYSIS OF RESERVE POSITION OF li&'BER BANFS, WEEK ENDED WEDNESDAY, JUKE 25, I9I4I
Table la---Assuming an increase in reserve requirements to twice basic statutory reserve requirements

1. All
a.
b.
c.

Kumber of banks, by Federal Reserve districts—
Distribution of number of banks, by classes,
New
Total
Phila- Cleve- Rich- Atlanta Chicago
1
St. Minne- Kansas ¡Dallas
assuming an increase in reserve
requirements to
Boston York delphia land mond
number
Louis apolis City j
twice basic statutory requirements*
L
member banks—total
880
570
k52
¿-7
43
317
k25
667
737
3H> 787 655
6,5if9
501
iao
558
Reserve balances sufficient
521
3kk
2U5
5,065
331
33k
21+9
655
735
106
88
Reserve balances plus l/2 bank balances sufficient
72
2ili
91
1^5
11k
110+
155
118
9k
5
2
2
Reserve balances plus 1/2 bank balances insufficient
1
Ik
9
3
k3
k
3

2. Central reserve city banks—total
a. Reserve balances sufficient
b« Reserve balances plus l/2 bank balances sufficient
c. Reserve balances plus 1/2 bank balances insufficient
3. Reserve city banks—total
a« Reserve balances sufficient
b. Reserve balances plus l/2 bank balances sufficient
c« Reserve balances plus l/2 bank balances insufficient

h. Country banks, population' 100,000 and over—total
a* Reserve balances sufficient
b* Reserve balances plus l/2 bank balances sufficient
c. Reserve balances plus l/2 bank balances insufficient

ka

——

36

12

3k

mm mm

26
9
1

13
1
10

11

22

265
79
1

9
l

8
3

19
3

199
138
60
1

36

ko

2k

26

6 . Country banks, population less than 15,000—total

k.9%

733
263
5

—.

8

3k5

1,001

33
30
3

3k

21

65

2k

31

12
9

k5
20

17
7

2

9
6
3

50

36

36
14

29

30
23

7

7

1

12

Ik

106
72

163
130
30
3

3k

19k

537

19
17
2

26
20
6

3
2
1

11
10
1

1+
1
9
5

17
12
5

16

6

2

9
6
1

3
3

1
1

92

113
95
—18
—

73
50
23

72

151

50

5k
18

112

kk
3k
10

31
.19

51
27

¿46
3k

k95
kl3

327
261
65
1

213

3Uo
274
66
—w

377
288
86
3

69
21
2
522
396
119
7

39
658

561

U63
3» 895
76
62
kl
1,026
79
t
10
1
3
35
3
*The groupings a, b, end c, under each main classification, show—
(a) the number of banks that had reserve balances sufficient to meet an increase to twice basic statutory requirements,
(b) the number that could have met such an increase by converting half of their bank balances into reserve balances, and
(c) the number that could not have mot such an increase by converting half of their bank balances into reserve balances«

276
176
100

k

5. Country banks, population 15,000-100,000—total
a* Reserve balances sufficient
b. Reserve balances plus l/2 bank balances sufficient
c. Reserve balances plus 1/2 bank balances insufficient
a. Reserve balances sufficient
b. Reserve balances plus l/2 bank balances sufficient
c. Reserve balances plus 1/2 bank balances insufficient

San
Francisco

2k

12

630

1+86

455
173
2

3*46
135
5

B-1259

(Rovised)

9
5

k
ko

25
15
197
123

7k

CONFIDENTIAL

ANALYSIS OF RESERVE POSITION OF MEMBER BANKS9 WEEK ENDED WEDNESDAY, JUNE 25, 19^1
Table 2—»Assuming an increase in reserve requirements to two and one-ha If times basic statutory reserve requirements

(Based on averages of daily figures; amounts in thousands of dollars)
Central Reserve
All
city banks
Reserve
member
city
Total
banks
New York
Chicago
banks
.•Reserve percentages, if increased to two and
one-half times basic statutory requirements:
On demand deposits
~
32-1/2
32-3/2
17-3/2
25
/
On time deposits
7-1/2
7-2/2
7-1/2
7-1/2
1« Banks with reserve balances sufficient to meet the increase
in reserve requirements:
Number of banks
Excess reserves if requirements were increased
2» Banks that could meet the increase by converting not more
than half of their bank balances into reserve balances:
Number of banks
Deficiency in reserves before converting bank balances
Excess reserves after converting half of bank
balances into reserves
Banks that would have to provide additional reserves after
converting half of bank balances into reserve balances:
Number of banks
Deficiency in reserves before converting bank balances
Deficiency in reserves after converting half of bank
balances into reserves
b* All member banks:
Number of banks
Excess reserves on present basis
Excess reserves if requirements were increased to
two and one-half times basic statutory requirements

16

(

Country banks
In places with a population of—
100,000
Less than
15*000and over 100,000
15.000
17-1/2

17-1/2
7-1/2

90
1142,896

1+69
199,217

7-3/2

17-3/2
7-1/2

2,562
193,582

3,311
2»391,655

738,k5b

lib» 538

1,002,968

3ill+l
535,695

2*977
-31+0,992

6

3

180
-179,867

2,788

99

1+81

2,208

-5,437

-1Ì46,225

-38,289

-61,200

-146,736

928,826

l/„551

16,150

398,075

515,152

12l+, 372

£27,1+08

163,372

261

11+

2

18

227
-12,1+17

10

31

-1,598

-l*+7
~+l5

186
-6,362

-615

-2,016

-2Ì42,785

-180,202
6,51+9
5,230,14+7

1,807,878

7

-9,1+63

-119,801

-6,181

-109,695

-3,767

36

12
1+10,160

2,201,5146

ll+7

-10i+,386
-6l,22l+
3I+5
1,71+9,663

-5,516
6,156

869,078

199
229,631+

1,001
320,103

-2,883
4,950

313,281

1^,560
li.iii
lOlfl
98,891+
377,053
103,009
613,216
718,715
Notes Due to tho fact that baiane:es due from bardes are deductible from demand deposits subject to reserve, a withdrawal of such balances results in
some increase in reserve requirements. If allowance is made for this, a number of the banks in group 2 vrould move into group 3 and vould
have scia© deficiencies in rosorves after converting one-half of bank balances into reserve balances.
1/ This aggregate net deficiency is due to the increase in reserve requirements which results from a withdrawal of balances due from B-1259
banks.
(Revised)

CONFIDENTIAL

ANALYSIS OF RESEEVE POSITION OF MEMBER BANKS, TREEK ENDED WEDNESDAY, JUNE 25, 1 9 U
Tablo 2a—Assuming an increase in reserve requirements to two and one-ha If " linos basic statutory reserve requirements
b

Distribution of number of banks, by classes,
assuming an increase in reserve requirements to two
and one-half times basio statutory requiroiaents*
1« All member banl.es—total
a. Reserve balances sufficient
b® Reserve balances plus l/2 bank balances sufficient
o» Reserve balances plus 1/2 bank balances insufficient
2.

Central reserve city banks—total
a# Reserve balances sufficient
b# Reserve balances plus 3/2 bank balances sufficient
c. Reserve balances plus 3/2 bank balances insufficient

Total
number

Boston
~jli6~

3,311
2,977
261
1+8
23
9
16

158
162
26

—

Number of banks, by Federal Reserve diLstricts—
Phila- Cleve- Rich- Atlanta Chicago St.
New
Minne- Kansas Dallas
San
Louis apolis City
Francisco
mond
York... de lphia land

787
I468
256
63

11

a. Reserve balances sufficient
bm Reserve balances plus 3/2 bank balances sufficient
c. Reserve balances plus 3/2 bank balances insufficient

10
8
1
1

Country banks, population 100,000 and over—total
a. Reserve balances sufficient
b# Reserve balances plus 3/2 banlc balances sufficient
c. Reserve balances plus l/2 bank balances insufficient

199
90
99
10

36
lU
18
k

lo
+
18
21
1

1,001
1+89
1+81
31

IO6
Ì6
4
55
"
5

163
103
hi
13

l+,956
2,562
2,208
186

19k
90
88
16

537
328
177
32

5« Country banks, population 15,000-100,000—total
a» Reserve balances sufficient
b. Reserve balances plus 3/2 bank balances sufficient
c. Reserve balances plus 3/2 bank balances insufficient
6* Country banks, population less than 15*000—total
a. Reserve balances sufficient
b# Reserve balances plus 3/2 bank balances sufficient
c. Reserve balances plus 3/2 bank balances insufficient
»The groupings a,
(a) the number
(b) the number
(c) the number

667
381
265
21

1+37
235
195
7

I425
211
208
6

1+52
19k
2l+0
18

737
30h
1+18
15

570
280
268
22

276

5
15
1

65
28
3k
3

2k
5
16
3

9
2
7

50
15
3k
l

36
17
19

30
12
15
3

11
7
1
+

11+
5
9

17
9
8

¿17
Ha
173
3

3
5
3

880
530
338
12

179
13

12

36
16
6
lU

3U5
IU7
180
18

3. Reserve city banks—total

655
325
275
55

7
3
2
22
12
8
2

33
21
12
—

21

3k
19
11+
1

26
16
9
1

3
2
1

92
Jß
U
39
5

113
66
¿4+
3

73

72

31
10
+
2

29
k3

522
255
219
18
+

U95
278
200
17

327
183
11+0
l.
t

19
10
9
—

151
75
76

14+
21
23

"

—

—

213
100
ill
2

638
I+15
216
7

3U0
176
161
3

—

16
k
8
1
+
50
18
31
1
377
170
19U
13

b, and c, under each main classification, s h e w —
of banks that had reserve balances sufficient to meet an increase to two and one-half times basic statutory requirements4
that could have mot such an increase by converting half of their bank balances into reserve balances, and
that could not have mot such an increase by converting half of their bank balances into reserve balances.

—

2
1
1

6
2
k

- -

—

—

51
20
31
—

630
267
3h9
Ik

9
2
7

Uà

Uo

19
26
1

13
26
1

21+3
222
21

197
57
131
9

B-1259
(Rovised)

CONFIDENTIAL

ASSETS AND LIABILITIES OF MEMBER BANKS YHICH, AFTER CCNVEIiTIFG HALF OF THEIR BAIsK BALAKC3S INTO RESBRVS BALANCES, T.OULD HAVE TO PROVIDE
ADDITIONAL RESERVES IN ORDER TO FEET AN INCREASE IN RESERVE REQUIREMENTS TO TCICB BASIC "STATUTORY REQUIREMENTS

(The figures of assets and liabilities are as of June 30, 191+1, but the reserve analysis was based on averages
of daily figures for the week ended Juno 25, 191+1)
Ft R.
Dist. City and State
No.

Name of bank

2

CENTRAL RESERVE CITY BANK
New York, H.Y.
Schroder Trust Company

5

RESERVE CITY BANK
Calvert Bank
Baltimore, Md.

9
2
2
2
3
3

COUNTRY BANK IN A PLACE PITH A POPULATION
OF 100,000 OR MORE
Minneapolis,Minn. Fidelity State Bank
COUNTRY BANKS IN PUCES Y.ITH A POPULATION
öF 15,ööö-löö,ö0ö
Greenwich, Conn. First National Bank
Hackensack, N.J •
Bergen County National Bank
M iddlet ovm, N.Y•
National Bank of I
Shamokin, Pa.
West End National Bank
Shamokin, Pa.
Nat iona 1 -D ime Bank
Total, 5 country banks in places with a
population of 15,000-100,000

tional assets
reserves
needed^/

Ratios (per CfcntJ
U.S.Govt
securities

Other Balances DeLoans and
Loans
secur- due from
Loans
posits investities
banks
to
ii cnts to
assets
assets
In thousands of dollars

1 63
+

27,128

l,l3
+l+

12,093

3,619

25

13,908

2,723

3,836

2,776

lk

2,636

1,870

205

259

i
270 23,375 1|
l + 12,630 |
l8
1
1
9

U.S. Govt, Other 1 Bank
securi- securi- balances
ties to ties to
to
assets
assets 1 deposits

73.2

I5.3

11.
++6

13.3

1.2

67.1

19.6

27.6

20.0

1.2

70.9

7.8

13.6

.+
1

I+5.3
1+2.5

35.7
20.4

i+1.8
15.8
21.5

1.7
1.1
2.7

25.I+
32.3

1.1
1Ô.8
10.2
37.6
20.2
1:. 3
1.

1.9

7.1+

3.5
2.7
2.5
1.2
*5
1+.1
.6
.7

2,1+67 ! 8 8 . 5
I
!

13
6
15
5
17

l+,886
3,51+1
l+,607
1,659
i+,838

2,212
l,50l+
1,31+2
12
+3
1,563

1,71+2
723
1,927
263
1,038

53
667
1+70
628
975

56

19,531

7a 0 + +
11

5,693

2,793

30
10
16
6
9
25
3
2

COUNTRY BANKS IN PLACES ÌTITH A POPULATION

77
35
110
55
19
+

;

i,+8
+16
82.0
3,095 ! 81.7
81.2
l,3+
+0l
79.2
1,389
3,861+ : 7 3 . 9

326 16,850 ;
i

79.5

29.I

36.1 2 9 . 1

i+.0

1.3

OF LESS THAN 15*000

1
1
1

2
2

2
2
2

Lebanon, N. H.
National Bank of
Enosburg Falls,Vt. Enosburg Falls National Bank
Poultney, Vt.
Poultney National Bank

10
5
ll

1,080
15+
+1
769

1+62
305
573

231
27

80
76
35

Cato, N. Y.

5
17
5
7

606
1,883
711+
630
362

1+02
1,067
1+52
1+35

71+
388
92
26
5+
1

69
106
35
50
78

First National Bank
Delaware National Bank
Florida, N. Y.
National Bank of Florida
Hamden, IU Y.
First National Bank
Harrisvillo, N.Y. First National Bank
Delhi, H. Y.

k

17k

8

85k ! ! 71*6
369 ; 8 5 . 7
:
;
61+9 ! 82.6
511
1,650

605

292

89.9
82.9
79*7
81.1
8I+.5

b2.8
67.2
71+.5
66.3
56.7
63.3
69.0
1+8.1

21.1+
1.8
3.5
12i2
20.6
12.9

lui

11+.9

16.7

¿.
16
11.1+
5.6
1+.9
7.9
21.5
B-1259

(Revised)

CONFIDENTIAL

ASSETS AND LIABILITIES OF MEMBER BANKS l/HICHj AFTER CONVERTING HALF OF THEIR BANK BALANCES INTO RESERVE BALANCES, ?;OULD HA^E TO PROVIDE
ADDITIONAL RESLRVES IN ORDER TO FEET AN INCREASE IN RESERVE REQUIREMENTS TO ThICE BASIC STATUTORY REQUIREMENTS
—
Fage 2
(The figures of assets and liabilities are as of June JO, 19hl* but the reserve analysis was based on averages
of daily figures for the week ended June 25* 19^41)

F. R.
Dist. City and State
No.
(Ccmtinued)
Hermon, N. Y.
Hicksville,N.Y.
2
Liberty, N. Y.
2
Remsen, N. Y.
2
barrensburg, N.Y.

2
2

Name of bank

First National Bank
Long Island National Bank
National Bank of
First National Bank
Emerson National Bank

2
8
21

13
U

3
3
3
3
3

Toms River, N. J.
Bakerton, Pa.
Catawissa, Pa.
Dauphin, Pa.
Martins burg, Pa.

First National Bank
First National Bank
Catawissa National Bank
Dauphin National Bank
First National Baule

3
3

Ulster, Pa.
Weatherly, Pa.

U
U
U
5
7
9
9
9
10
10
il
11
11

reserves,
neededi'

3

8

Total
assets

U¿b
i,ijUU
2,878
701
1,366
5*60U

1
Ratios (per cent)
U.S. Govt, Other
Balances
Loans and
U.S.Govt, Other
Bank
secur- due from DeLoans
L : , s securo~n
securi- securi- balances
posits investities
ities
banks
to
ments to
ties to ties to
to
assets
assets
assets
assets deposits
In thousands of dollars
•

1UU

2
31
37
11
11

319
1,151
2,U95
620
1,197

78.3
83.1
87.5
87.U
81.U

52.U
79.2
U7.7
19.2
65.U

12.0
.3
I7.9
UI.7
5.5

I3.9
3.7
21.9
29.O
IO.5

>6
2.7
i.f
1.8
.9

292
75

203

672
218
28
25
25

98U
68
U5
28
U2

53
13
2
U
U

U,537 ;
j
U36 i
6 9 0 :!
223 !

85.5
83.2
86.U
81.9
7U.6

56.0
29.1
78.4
62.2
U9.2

1Ü.0
41*2
3.1

9.3
9.5

I7.5
12.9
4.9
IO.3
I5.9

1.2
3.0
-3
1.8
1.8

39
6U

219

15

1+19

8U.U
75.5

33.U
U6.6

7*7
9.1

U3.3
I9.8

3.6
2.1

1U9

U3
317
57

52
32

69.5

39.7
26.8
58.2

23.2
25.9
5.7

6-7
30.6
I9.I

*9*5
3.5
»9

105

75
25
18
20
5

62.7
70.0
U6.8
52.5
63-7

1U.8
11.5
3U*7
15*0
lU.8

5.3

237

293
Uo
236
121
55

2.8
I5.I
9.7

U.U
8.6
3*0
2.8
1.5

377

107

25

63.0
1+8*8
77*1
9.9

17*9
7.1

590
136

20
-0908
25

U.2
29.7
2.8
6U«9
.5

6.0
2.1
8.6
2.1
5.0

1
1

912
270
261+

3,136
151+
715
168
130

First National Bank
First National Bank

2
2

506
706

169
329

Georgetown, Ky.
Masontown, Pa*
Stoystown, Pa.

First National Bank
Second National Bank
First National Bank

2
1

U

61+3
1*035

Lexington, Va.
Battle Ground,Ind.
Lemon, S, D.
Manistique, Mich.
Stephon, Minn.

Rockbridgo National Bank
Battio Ground State Bank
First National Bank
State Savings Bank
First National Bank

255
277
17I+
l,2l+0
21+3
319

St. Marys, Kans.
Granite,0kla«
Annona, Tex.
Cameron, Tex.
Dodson, Tex

St. Marys State Bank
First National Bank
First National Bank
Citizens National Bank
First State Bank

Ik

529

299

8
1

1,978
31+7
681
808
372

2
1
3
30
1

598
283
109
6,030
192

U
3

6

51

222
l,ll+3
1,372
118
893

I42I+
138
el+

u

516

268
17

59
53
631

1U0

2

19
122
36
8U
3
3,9iU
l

12
2

30
5

6

121
6

225 :
s

583 j

5U5 i
913 !

218 I

1,702 ;
291 j
607 j
723 !
327 iI
U98 j
237 i
70 j
5,787
120

83*3
82.9
82.8
82*1
8U.3
82*5
88.1
85.1
85.5
79*8
89*9
8U. 3

70.8

15.1
13.0

.6

B-1259

(Rovised)

CONFIDENTIAL

ASSETS AND LIABILITIES OF KEKBER BANKS T.HICH, AFTER CONVERTING HALF OF THEIR BANK BALANCES INTO RESEEVIi BALANCES, TfiOULD iiAVii '10 HtCVIDL
ADDITIONAL RESERVES IN ORDER TO MELT AN INCREASE IN RESERVE REQUIREMENTS TO TWICE BASIC STATUTORY m^JllisMkmS

(The figures of assets and liabilities are as of June 30, 191+1, hut the reserve analysis was based on averages
of daily figures for the week ended June 25» 191+1)
F. R#
Dist.
Nov

City and State

(Continued)
Dumasj Tex.
Oglesby, Tex».

Name of bank

reserves
needed^/

Total
assets

Ratios (per c:ent )
U. S.Govt.
Other Balances
DosecurLoans and
U.S.Govt, Other
Bank
Loans
secur- due from
ities
posits invest- Loans
securi- securi- balances
banks
ities
ments to to
ties to ties to
to
In thousands of dollars '
assets assets assets
assets deposits

13
2

5b3

36k
87

38
7

26
7

56

i+
l3

2k

¿409
108

78*8
70.6

67.O
60.8

7.0
4*9

Total, 35 country banks in places with a
populati n of less than 15*000

22h

36,163

17,372

5*193

7,906

773

30,91+1

Bk.3

48.0

l.-i.
iS.4

21.9

2.5

Total, I4I country banks

11
11

29b

58,330

26,286

11,091

10,958

1,108 50,258

82.9

1+5.1

19.0

ir.p

2.2

6U.3

31.3

20.0

13.0

19.5

78.0

33.1+

27.2

17.I+

1.8

First State Bank
First National Bank

Average ratios for all country banks , Apr « il, . 9 - 1^11
Grand Total, b3

banks

782

99*366

33,152

27,020

17,353

1,526 86,263

4.8
k* 9

11.5
»22 .-2

B-125°
•l/ After converting one-half of bank balances into reserve balances.
(Revise
- * Average balances due from banks, as reported for the week ended June 25, 19U1, vorc considerably below the amount shown in the June 3 0 c.il import.

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