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BOARD OF GOVERNORS
OF' THE
FEDERAL RESERVE SYSTEM
•
WASHINGTON
R-880
ADDRESS OF'F'ICIAL CORRESPONDENCE
TO THE BOARD
September 6, 1941
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Dear Sir:
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•
•
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This refers to the Board's telegram of tod~, cop,y attached,
requesting that you have computed, in the case of each member bank, the
percentage ratio of its demand deposits, both including and excluding
interbank deposits, on Jur.e 30, 1941 to the corresponding figures on
June 30, 1938.
A supply of forms (tables 1 and 2) for use in making two frequenqy distributions of the banks is enclosed. As indicated in the
Board's telegram, the frequen~~ distributions should be mailed or telegraphed in ti.'Ile to reach the Board's offices by Mondey morning, September 15. If the figures are telegraphed the code words and letters
provided for the purpose should be used to designate the bunks in each
group. For exarr~le, in table 1, the number of reserve city banks with
demand deposits under $10,000,000 may be wired simply as "Jarl A 15,
B 1, D .3, E 5, G 4, I 211 • Code words and letter designations for groups
in which there are no banks should, of course, be omitted.
It is probable that distributions of the dollar amount of deposits on June 30, 1941, and of the changes in deposits between June
19.38 and June 1941, corresponding to· tables 1 and 2, i.e., four additbnal tables, will also be dGsired later on; if so, you will be advised
to that effect by telegraph. Until further notice, therefore, the form
showing the information for each individual member bank should be retained at your Bank.
Very truly yours,
...
Chester Morrill,
Secretary •
Enclosures
(One cnclosure(form) sent with addressed copies only)
TO THE PRESIDENTS OF ALL FEDERAL RESERVE BANKS
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·rELEGRAM
Young - Boston
Sproul - New York
Williams - Philadelphia
Fleming - Cleveland
Leach McLarin
Young Davis -
Richmond
- Atlanta
Chicago
St. Louis
R-880-a
Peyton- Minneapolis
Leedy - Kansas City
Gilbert - Dallas
Day - San Fran~isco
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Please prepare form showing following information for each
bank in your district that was a member of the Federal Reserve S,ystem
on June 30, 1941:
Name, location, ru1d reserve classification of bank
1.
Total demand deposits, June 30, 1941
2.
Interbank demand deposits, June 30, 1941
3.
Item 1 minus item 2
4-
Total demand deposits, June 30, 1938
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5 • Interbank demand deposits, June 30, 1938
6.
Item
7.
Ratio of item 1 to item 4 {per cent)
8.
Ratio of item 3 to item 6 (per cent)
..
l,.
minus i tern 5
Item 1 above is to be entered from item 7 in call report
Schedule E, and item 2 above from items 4 and 5 (combined) in Schedule
E.
Items 4 and 5 above should be entered from call report Schedule J.
All deposit figures should be entered in thousands of dollars (disregard amounts under $500).
Ratios should be carried to one point beyond
the decimal (for example, 143.8).
Forms for distributing the banks by amoUnt of demand deposits
and Qr ratio of June 1941 deposits to June 1938 deposits are being mailed.
The
frequenqy distributions should be mailed or telegraphed in time to
81
R-880-a
-2-
reach Board's
later
~
offices~ Mond~
morning, September 15, to be followed
the individual member bank forms.
The forms for banks that were not members of the &JStem on
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both dates (1941 and 1938) need not be completed, but dates of admission to membership should be indicated thereon.
included in the frequency distributions.
Any
Such banks cannot be
member bank which during
the 3-year period absorbed another bank whose June 1938 figures exe
not available should also be excluded, with explanatory note, unless
the absorbed bank was relatively small compared with the continuing
bank.
If the absorbed bank's figures for June 1938 are available,
thew should be combined with those of the continuing bank.
It is con-
templated that tho data requested will be compiled from records in your
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possession and that inquiry must not be ma.de of member banks.
..
"
(Signed)
Chester Morrill
Morrill
@FedFRASER