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FEDERAL RESERVE BOARD
WASHINGTON
X- 3197
September
SUBJECT:
Departmental Costs of Operation
Banks.
9~ 19~1.
in Federal Reserve
Dear Sir:
In order that the Board may have a better understanding
of the cost of operating the various departments of the banks, and
especially to what extent, if any, the expenses of tl1e several
departments are increasing, .nay I ask that you kin:ily bring to the
Conference of Governors and Agents to be held in 7~ashington on
October 25, 1921 1 a statement showing the nulliber of officers and
employees and the salaries paid, as well as other current expenses
properly chargeable tothe several depart:nents listed on the
attached form for each sig-month pariod since January 1919. It
will be noted that two forms are prcvided 1 one for use in showing
overhead salaries, and the other to be used in sh·oi~ing both salaries
and other current expenses of certain departments of the bank.
Federal Reserve Backs with branches should prepare separate reports
for each branch and the head office 1 in addition to the consolidated
statement for the parent bank a1~ branches. If practicable a copy
ofthe complete report should be furnished the Board in advance of
the Conference.
It is recognized that the functions performed by the
various departments are not unif onn in all banks 1 also that in
certain of the banks more than one o{ the functions listed may be
perf armed by a single department,~ in which case, of course 1 combined
figures should be given,
It will be appreciated if you will also outline briefly
the functions performed by such depC!-rtments as the transit and
currency departments in order that it may be clear to the Board
whether or not the figures of different banks are compiled on a coJnparable basis,
Very truly
yours~
Enclosure
G o v a r n o r.
To all Chairmen.
Copy to all Governors.
X-3197a.
FEDERAL RESERVE BANK O F - - - - - - - Comparative Statement of Departmental Personnel and Expenses
by six-month pel'iods frc~:a Janu.:u·y l)l9 to Jm~~ :921.
Table No. 1
:
6-month :period
:
Jan. - June, 1919
July- Dec., 1919
Jan .. - Junet 1920
July - Dec. , 1920
Jan. -.June, 1921
.
OVERHEAD SAL.Al.~~I:.:::E~S----------.----Persoimel :
Salaries, including extra.
Average num~ O:.;:f_ _ _ _ -:_ _ _ _ _("~~i)2~1~.:.:::·o::.:n:...._._ __
Officers
Emplo~es
:
Officer::;*
:
Employees
*The following staterrent showc the number of officers of each
, grade or title included in the several ~riods~
Jan. to J'Ulle July to Dee.
1919
1919
J <:rn~
&11
,.June
- _l91Q__
July to Dee
1920
Jan. to J·une
1921 -~-
'
....
.,.
..
i ("
X-3197b
Table No
.
2 - -
DEPARTMENT
Expense A
Personnel Average number
Salaries incl~ding Other
extra comnenAation
current
of
expenses
Officers I E!Di:)lovees Officers lEmolovees
6-month period
Jan. - JuneJ
July - Dec. J
Jan. ·- June,
July -Dec.,
Jan. - June.,
Total
current
expenses
1919
1919
1920
1920
1921
A statement in the above form should be prepared for each
of the following departmeuts:
FEDEIU L RESERVE BANK -
!.
''
·r
1. Transit
2. Currency, incoming and outgoing
3· Custodies
4. Loans and investments
5. Auditing
6. Accounting
FEDERAL RESERVE AGENT 1. Examination
2. Reporting Business Conditions
). Member Bank Relations
4. Statistics
5. Federal Reserve Note Issues
FISCAL AGENCY DEPARTMENT
...
-
.
j
X-3197c
SALARIES PAID OFFICERS AND EMPLOYEES OF
THE F!DERAL RESERVE BANK OF
BY SIX-MONTH PERIODS
FROM JANUARY. 1919 TO JUNE~ 1921 .•
(In ~housands of dollars)
1919
1919
Jan-June July-Dec.
·'f
1920
1920
Jan-June July-Dec.
1921
Jan-June
---------------------------------------------------------------------~
Officers
Employees
-~------------------------------~~~-----~~-~--~-~~~--~--~---~·-~-
:Total
@FedFRASER