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BOARD OF GOVERNORS

F E D E R A L R E S E R V E SYSTEM

p f f i c e

C o r r e s p o n d e n c e

Chairman Eccles
From

D a t e

Ruhjert:

Kan*

26,1945

H. R. 1699

Mr> Ransom




Y/hile you were out of town Mr. Henry Steagall
asked that the attached s t a t i s t i c a l data be prepared f o r
use in connection with any testimony we offered on the
war loan deposit accounts b i l l . Not seeing just what
would be proven by t h i s material, we decided to extend
i t somewhat* addirg some additional information. This
again does not seem to me to be of any particular value
in connection 7/ith the b i l l * However, a t the Commit tee
meeting on March 25, Mr. Yfolcott asked some questions
that required !£r. Thompson of F.D.I.C. to read into the
record the figures I sent you in a memorandum on March
25.
You might add the attached to your f i l e
f o r use on Monday, March 29, in case Mr. Steagall r e members to request the information that he asked us
to have prepared.

TYbat Mr. Steagall s p e c i f i c a l l y
requested.



BANK HOLDINGS OF UNITED STATES GOVERNMENT OBLIGATIONS, WAR LOAN DEPOSIT ACCOUNTS,
M P EXCESS RESERVES, BY STATES, DECEMBER $ 1 , l9l|g
( I n thousands of d o l l a r s )

State

Alabama
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
D i s t . of C o l .
Florida
Georgia
Ide^-N
111.
is
Indiana
Iowa
Kansas

Holdings of United S t a t e s Government
o b l i g a t i o n s , d i r e c t and guaranteed, a l l
banks e x c e p t F e d e r a l Reserve Banks
War Loan
Nonmeiriber
deposit
Mutual sav- accounts
banks e x c l u d All
ings banks
of a l l
ing mutual
Member
bankB*
savings
banks
banks
excluding 3
banks*
member banks*
251,1*79
60,951
127,1*62
2,Q12t2kh

200,700
809,720
171,506

283,li*8
300,600
29U,31U
79*kk9

229,392
51,310
103,765
2,587,692
188,711

22,087
9,61*1
23,697
221^,552
11,989

315,7U3
275,776
255.3k6
252,131

ll*l*,633
32,611*
7,372
1*5,251*
1*2,183

72,029

7,1*20

132,61*8

;5 , 7 5 0 , 7 8 9
666,791
31*8,1*01
23l*,0l*8

3,571*,350

331,378
331,536

502,086
221,206
170,597

KentuckyLouisiana
Maine
Maryland
Massachusetts

199,099

719,236
2,1*18,937

237,626
30l*,818
99,301
1*36,871;
1,339,978

Michigan
Minnesota
Mississippi
Missouri
Montana

il , 3 8 l i , 8 7 2
723,797
89,895
1,000,028
lol*,757

1,279,765
593,663
1*1*,998
883,599
95,783




176,1*39

157,751
127,195

M M
mm

—

3U9,31*1*
6,214*
- —

6,93k
—

63,1*51

—

93,752

--

26,718

25,576
121*, 3 5 2
113,155
105,107

100,231;
1*1*, 897

116,1*29
8,971*

—

71*, 222
158,010
965,8014
—

29,900
—
—

Excess r e serves of
member banks

1*1*,968
5,iol*
6,111
188,320
9,107

18,790
5,333
13,126
103,055
33,631*

1*5,726

11,61*5
1,1*26

31*, 2 1 6

17,942

18,018
37,312
63,393

22,217

1*,283
73i*,i*l6
66,757
37,981
37,031*

101,898
1*2,330
13,653
16,295

1*6,899
53,226
5,783
77,186
313,11*0

170,661
109,629

7,770
121,580
8,973

16,268
l*,i*ol*

13,51*2

23,200
8,013

21*, 537
88,1*91

121,390
32,191
7,285
1*0,675
12,268

BANK HOLDINGS OF UNITED STATES G V R M N OBLIGATIONS, W R L A DEPOSIT ACCOUNTS,
OEN E T
A ON
'
A D EXCESS RESERVES, BY STATES, DECEMBER $1, lgLt? (Cont'd)
N
( I n thousands of d o l l a r s )

State

Nebraska
Nevada
New Hampshire
New JerseyNew Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
Sou-^B^akota

Holdings of United S t a t e s Government
obligations, d i r e c t and guaranteed, a l l
banks except Federal Reserve Banks
Nonmember
Mutual savbanks e x All
Member
cluding
ings banks
banks*
mutual saif- excluding 3
banks
ings banks*1 member banks*
207,U86
3U.555

115,062

1,313.800
U1.U61

1,023,129

i6,8U2,o66
381,9U7
55.388
1.7U5.628
193.56U

13.896.978
257,231
36.92U
1.556.278
175.955

3U6,216

3,251,003

331.662

100,961

62,002

Tennessee
Texas
Utah
Vermont
Virginia

61,525
395.830

Washington
West V i r g i n i a
Wisconsin
Wyoming

519,828
159.982
615,131
51,898

U5.9U1.197

United S t a t e s
Total

181,778
32,192
39,957

356.336
956,881

125,8U8

3U,650

326,537

2,632,292

25.708
2,363
6,688
183,511
•6,811

606,028

12U,716
18,U6U
1U5.512

17,609

18,650

213.
85.70U
51,527

3Ul,792
UU.638
15.257
10,675

318,U6O

1U,366
17.6UU
55.977

68.U17
107,160
—

2,339,060
—

— mm

U3,838
—

1,029
276,919

37.876

lll,U82
23,U55
339,853

—

880,0U5

73,330

76,836

20,U26
Ul.396

U67.5U6
28,309

2U.568
30,620
1U7.U95
3.589

37.5U6,I89

3,832,865

U.562.1U3

U53.86U

129,362:

90

War Loan
deposit
accounts of
a l l banks

Excess r e serves of
member banks

22,923
109
3.562
165.170
5.527

1U.3U9
1,187
U.835
57.177
U.76U

U,62U.690
31,796
8,685
137,2U5

U32.629
lU.539

31.869

1,210
86,930
20,931

27.02U
392.587
30,3U7
9.93U
9.527

17,559
197.165
11.713
U,129
U,735

80,7lU
183,2U7
9,83U
881
U2,81U

18,218
131,6U1
12.3UU
2,389
U2,77U

31,021
22,U25
39,808
i,iU3

15,772
2U,020
5,168

8,l65,U75

1,936,093

16,307

•For a few S t a t e s , the figures in these columns are p a r t l y estimated.




Extension of the information
requested.

that Mr.
 Steagall


UNITED STATES GOVERNMENT OBLIGATIONS, CASH ASSETS, TOTAL ASSETS, TOTAL DEPOSITS, AND VtAR LOAN DEPOSITS OF ALL B A M S ,

M P EXCESS RESERVES OF MEMBER BANKS, BY STATES, DECEMBER J l ,
( I n thousands o f

Alabama
Arizona
Arkansas
California
Colorado

229,392

22,087
9,6l»l
23,697

251,479
60,951
127,1j62
2,812,2/4;
200,700

103,765
2,587,692

809,720
171,506
283,11$
300,600
29U.31k

315,743
132,648
275,776
255,3h6
252,131

1^,633
32,61b

72,029

7,1*20
176,439

Connecticut
Delaware
D i s t . of C o l .
Florida
Georgia

51,310

188,711

Idaho
Illinois
Indiana
Iowa
Kansas

3.750,789
666,791
348,1+01
234,048

3,57^,350

Kentucky

331,378

237,626

331,536
199,099
719,236
2,1+18,937

304,818
99,301
436,874
1,339,978

Louisiana
Maine
Maryland
Mas s a c h u s e t t s

dollars)

Holdings o f United S t a t e s Government
o b l i g a t i o n s , d i r e c t and g u a r a n t e e d , a l l
"banks e x c e p t F e d e r a l R e s e r v e Bank3
Nonmember
Mutual s a v banks e x i n g s banks
Member
All
cluding
banks*
mutual s a v - e x c l u d i n g 3
banks
i n g s b a n k s * member banks*

State

79




M9

502,086
221,206
170,597

22k,552

11,989

U5.25h
1+2,183

157,751
127,195
63,1+51

93,752
26,718
25,576
124,352
113,155

—

—
—
—

—

3h9>3hk

6,21^

19U2

Cash
assets**
of a l l
banks*

281,676
64,627

202,276

Total
assets
of a l l
banks*

71+9,694

180,763

437,ioo

1,801,666
263,750

7,279,230

386,860

2,018,609
398,131
657,455

604,935

Total
deposits
of a l l
banks*

694,247
172,689
407,335
6,746,435
564,096
1,813,149
347,486

__
6,95^
— -

74,222
158,010
965,804

819,013
1,011,655

933,690

72,260
2,209,330
573,259
428,886
327,658

202,993
7,877,650
1,703,916
1,220,768
848,209

7,371,943
1,579,739
1,137,111+
785,1+72

328,684

M W

78,895
211,594
32^,577
390,163

927,647

840,489

364,337
100,835
356,992
1,000,269

477,266
1,1|j08,892
5,786,311

960,900

604,296

761,052
189,163

900,378

1+22,254

1,292,755

5,208,371

War Loan
deposit
accounts
of a l l
banks

14+,968
5,104
6,111
188,320
9,107
45,726
3i+,2l6
18,018
37,312
63,393
4,283

734,416

E x c e s s re*
serves of
member
banks

18,790
5,333

13,126
103,055

33,634
11,645
1,426

17,942

16,268
22,217

4,4o4

66,757
37,981
37,031+

101,898
42,330
13,653
16,295

46,899
53,226
5,783
77,186
318,140

13,5U2
23,200
8,013
24,537
88,491

UNITED STATES G V R M N OBLIGATIONS. CASH ASSETS. TOTAL ASSETS. TOTAL DEPOSITS* AMD Y L L A DEPOSITS OF ALL BANKS,
OEN E T
OR O N
A D EXCESS RESERVES OF M M E BANKS. BY STATES. DECEMBER 51. 19hZ (CONT'D)
N
E BR
(in thousands of dollars)
Holdings of United States Government
obligations, d i r e c t and guaranteed, a l l
banks except Federal Reserve Banks
Nonmember
banks ex- Mutual savings banks
Member
All
cluding
banks*
batiks
mutual sav- excluding 3
ings banks* member banks*

State

Michigan
Minnesota
Mississippi
Mis souri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota

1,384,872
723,797
89,895
1,000,028
104,757

1,279,765
593,663
1)4,998
883,599
95,783

207,486

181,778
32,192
39,957
1,023,129
34,650

34,555
115,062
1,313,800
4i,46i

16,842,066
381,947
55,388
1,745,628
193,564
346,216

3,251,005
331,662
100,961
62,002




13,896,978
257,231
36,924

1,556,278

175,955
326,537

2,632,292

213,694
85,704
51,327

105,107

100,234

1)4,897
116,429
8,974

29,900
—
—

- -

25,708
2,363
6,688
183,511
6,811

—

68,417
107,160
—

606,028
124,716

2,339,o6o

145,512
17,609

43,838

18,650
341,792
1)4,638
15,257

1,029
276,919

18,464

10,675

—
—
—

73,330
—

Cash
assets**
of a l l
banks*

Total
assets
of all
banks*

i
i-

1,016,410
522,202
135,205

904,550
103.419

251,577
29,313
56,498

682,060
62,045

Total
deposits
of all
banks*

War Loan
deposit
accounts
of all
banks

Excess reserves of
member
banks

3,179,573

1,768,927

4 l 8,985
2,682,004
279,284
682,653
85,347
395,363
3,128,981
132.970

2,990,053
1,658,915
388,905

2,497,590

7,770
121,580
8,973

636,331
80,219

22,925

261,695

353,778
2,845,960

126,360

7,203,51)4
374,622
58,239
1,243,374
317,517

34,746,460
1,057,618
196,691
4,383,752

31,561,959

213,579
1,975,649
126,026
147,474
69,139

708.971
8,110,159

674,048
7,137,203
664,635
320,894
192,703

781,204

7/42,900
3^,607

207,740

170,661
109,629

966,683

184,143
4,036,745
713,445

121,390

32,191
7,285
40,675

12,268

5,527

14,349
1,187
4,835
57,177
4,764

4,624,690
31,796

432,629
14,539

137,245

31,869

86.930
20.931

27,024
392,587
30,347
9,934
9,527

17,559
197,165
11,713
4,129
4,735

109

3,562

165,170

8,685

1,210

UNITED STATES G V R M N OBLIGATIONS, CASH ASSETS, TOTAL ASSETS, TOTAL DEPOSITS, AND WAR L A DEPOSITS OF ALL
OEN E T
ON
A D EXCESS RESERVES OF M M E BANKS, BY STATES, DECEMBER 31, 19U2 (CONT'D)
N
E BR
(in thousands of dollars)
Holdings of United States Government
obligations, direct and guaranteed, all
banks except Federal Reserve Banks
Nonmembsr
banks ex- Mutual savings banks
Member
All
cluding
banks
banks*
mutual sav- excluding 3
ings banks* member banks*

State

356,336

318,460
880,045
111,482
23,455
339,853

37,876
76,836
14,366
17
M
55,977

519,828
159,982
615,131
31,898

453,864
129,362
467,546

24,568

28,309

45,941,197

37,546,189

Tennessee
Texas
Utah
Vermont
Virginia

956,881
125,848
61,525
395,830

Washington
West Virginia
Wisconsin
Wyoming

United States
Total

Cash
assets**
of all
banks*

434,887

— mm

War Loan
deposit
accounts
of all
banks

Excess reserves of
member
banks

1,094,561
2,907,065
315,349
207,670
1,076,716

80,714
183,247
9,834
881
42,814

13,218
131,641

1,235.044
493,266
1,492,274

1,166,378

110,919

31,021
22,425
39,808
1,143

16,307
15,772
24,020
5,168

28,710,266 108,974,607 99,814,672

8,165,475

1,936,093

35,808
388,968

4i,396

356,534

147,495
3,589

90

477,708
59,464

3,832,865

4,562,143

30,620

Total
deposits
of all
banks*

1,172,894
3,125,349
337,320
235,881
1,178,527

1,3144,814
127,949

20,1(26

Total
assets
of all
banks*

BANKS,

173,100

120,726

44o,i64

1,450,933

12,344
2,389

42,774

• J 6

*
**

For a few States, the figures in these columns are partly estimated*
Cash assets comprise cash in vault, member bank reserve balances v/ith Federal Reserve Banks, balances vrith other
banks, and cash items in process of collection*