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3 5 3 FEDERAL RESERVE BOARD WASHINGTON ADDRESS OFFICIAL CORRESPONDENCE T O T H E FEDERAL RESERVE BOARD X-8077 October 16, 1934. SUBJECT: Weekly Member Bank Condition Statement. Dear Sir: Beginning with the statement t o be issued on Monday, October 22, which w i l l show figures as of Wednesday, October 17, the Board1 s weekly member bank condition statement w i l l be revised to incorporate some of the additional data member banks have been reporting since September 5* The revised form of statement w i l l contain the following items: Loans and investments - t o t a l Loans on s e c u r i t i e s - t o t a l To brokers and dealers: In New York Outside New York To others Acceptances and commercial paper Loans on real e s t a t e Other loans U, S. Government direct obligations Obligations f u l l y guaranteed by U. S. Gov 1 t• Other s e c u r i t i e s Reserve with F# R. banks Cash i n vault Net demand deposits Time deposits Government deposits -2- X-8077 Due from banks Due t o "banks Borrowings from F« R. banlcs The statement showing the principal assets and l i a b i l i t i e s of reporting member banks in New York City and Chicago as of October 17 w i l l be issued i n the present form on Thursday, October 18, but on the following Monday the statement for New York City and Chicago w i l l be incorporated, i n the revised form, i n the complete weekly member bank statement. Beginning October 25 the Thursday statement w i l l be i n the revised form. The t e x t accompanying the statement to be issued on Monday, October 22, w i l l contain the following paragraph: "The statement has been revised to show separately, and by Federal Reserve d i s t r i c t s , loans t o brokers and dealers i n New York and outside Hew York, loans on s e c u r i t i e s to others, acceptances and commercial paper, loans on real e s t a t e , and obligations f u l l y guaranteed both as to principal and i n t e r e s t by the United States Government. In view of the new c l a s s i f i c a t i o n of loans the memorandum items heretofore appearing at the bottom of the statement of condition of reporting member banks i n New York City, r e l a t i n g to loans on s e c u r i t i e s to brokers and dealers, has been eliminated from that statement. The statement published l a s t Thursday, which i s reissued herewith in revised form, showed the t o t a l amount of brokers' loans made by New York City banks for t h e i r own account as $603,000,000, of which (as shown i n the revised statement) $555,000,000 represented loans to brokers and X-8077 - 3- dealers i n New York City and §48,000,000 to brokers and dealers outside of New York City. Of the $136,000,000 loans to "brokers and dealers made by weekly reporting member banks i n New York City f o r the account of out-of-town banks (as shown i n the s t a t e ment i s s u e d l a s t Thursday), $131,000,000 was made f o r the account of weekly reporting member banks outside New York City. The f i g u r e s as published i n t h i s statement do not include loans t o brokers and dealers by New York banks f o r account of non-reporting banks and f o r account of others• Figures for such loans, which at the present time amount t o about $6,000,000, w i l l be published monthly i n the Federal Reserve Bulletin." The f i g u r e s quoted i n the above paragraph are as of September 26• Figures for October 17 w i l l be substituted, of course, when the revised form of statement i s f i r s t i s s u e d . Very t r u l y yours, L. P. Bethea, Assistant Secretary* TO ALL FEDERAL RESERVE AGENTS
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