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STATEMENT FOB THE PRESS St.2502 Released, f o r p u b l i c a t i o n i n F e d e r a l R e s e r v e Board. F r i d a y a f t e r n o o n p a p e r s , Eec. 23", December 2 2 , 1921. not e a r l i e r CONDITIO!! OF : E 3 E R 3ALJKS IK LEADING CITIES. A g g r e g a t e i n c e a s e s of $ 1 ) 1 , 0 0 0 , 0 0 0 i n n e t demand d e p o s i t s , a p p a r e n t l y i n a n t i c i p a t i o n of t a x payments due on December 15, accompanied b y a r e d u e - ... t i o n of $ 1 0 , 0 0 0 , 0 0 0 i n l o a n s a n d d i s c o u n t s and a n i n c r e a s e of $ 3 6 , 0 0 0 , 0 0 0 i n i n v e s t m e n t s , a r e i n d i c a t e d i n t h e F e d e r a l R e s e r v e B o a r d ' s weekly c o n s o l i d a t e d s t a t e m e n t of c o n d i t i o n on December 14 of SOS member b a n k s i n l e a d i n g cities. As a g a i n s t i n c r e a s e s of $ 2 , 0 0 0 , 0 0 0 i n l o a n s s e c u r e d by Government o b l i g a t i o n s and of $ 5 8 , 0 0 0 , 0 0 0 i n l o a n s s e c u r e d b y c o r p o r a t e o b l i g a t i o n s , o t h e r l o a n s and d i s c o u n t s , m a i n l y of a c o m m e r c i a l and i n d u s t r i a l c h a r a c t e r , show a r e d u c t i o n of £->5 >000,000. For t h e member b a n k s i n Hew York C i t y i n c r e a s e s of $ 6 , 0 0 0 , 0 0 0 i n l o a n s s e c u r e d by Government o b l i g a t i o n s and of $ 4 1 , 0 0 0 , 0 0 0 i n l o a n s s e c u r e d by c o r p o r a t e o b l i g a t i o n s , a s a g a i n s t a r e d u c t i o n of * 5 1 , 0 0 0 , 0 0 0 i n commercial l o a n s , a r e n o t e d . -A f u r t h e r i n c r e a s e of $ 1 1 , 0 0 0 , 0 0 0 i n t h e i n v e s t m e n t s of t h e r e p o r t i n g i n s t i t u t i o n s i n U n i t e d S t a t e s b o n d s , mainly L i b e r t y b o n d s , i s shown. H o l d i n g s of V i c t o r y n o t e s show a n i n c r e a s e f o r t h e week of $9>000,000, w h i l e h o l d i n g s of T r e a s u r y n o t e s d e c l i n e d by a b o u t $ 1 , 0 0 0 , 0 0 0 , and t u o s e of T r e a s u r y c e r t i f i c a t e s , - by a b o u t $ 4 , 0 0 0 , 0 0 0 . Corresponding changes f o r member b a n k s i n Hew York C i t y i n c l u d e i n c r e a s e s of $ 5 , 0 0 0 , 0 0 0 i n h o l d i n g s of U n i t e d S t a t e s b o n d s , of $ 4 , 0 0 0 , 0 0 0 i n V i c t o r y n o t e s , of a b o u t $ 1 , 0 0 0 , 0 0 0 i n T r e a s u r y n o t e s , a n d a d e c r e a s e of $ 3 , 0 0 0 , 0 0 0 i n T r e a s u r y c e r tificates, I n v e s t m e n t s of t h e r e p o r t i n g i n s t i t u t i o n s i n c o r p o r a t e a n d o t n e r s e c u r i t i e s show an i n c r e a s e f o r t h e week of $ 2 2 , 0 0 0 , 0 0 0 , o n e - h a l f of w h i c h r e p r e s e n t s t h e i n c r e a s e i n Hew York C i t y . I n c o n s e q u e n c e of t h e c h a n g e s n o t e d , t o t a l l o a n s a n d i n v e s t m e n t s of a l l r e p o r t i n g i n s t i t u t i o n s a r e shown $ 2 7 , 0 0 0 , 0 0 0 l a r g e r t h a n t h e week b e f o r e , t h e c o r r e s p o n d i n g i n c r e a s e f o r t h e member b a n k s i n New York C i t y b e i n g $ 1 4 , 0 0 0 , 0 0 0 . T o t a l accommodation of r e p o r t i n g i n s t i t u t i o n s a t t h e F e d e r a l r e s e r v e b a n k s shows a d e c r e a s e f o r t h e week f r o m $ 6 2 2 , 0 0 0 , 0 0 0 t o $ b b 3 , 0 0 0 , 0 0 0 , o r f r o m 4 , 6 t o 4 . 5 p e r c e n t of t h e b a n k s ' t o t a l l o a n s a n d i n v e s t m e n t s . For t h e New York C i t y b a n k s a d e c r e a s e f r o m $ 1 4 8 , 0 0 0 , 0 0 0 t o $133>000,000 i n t h e t o t a l b o r r o w i n g s f r o m t h e l o c a l r e s e r v e b a n k and f r o m 3 * 1 t o 2 . 3 p e r c e n t i n t h e r a t i o of accommodation i s n o t e d . P r a c t i c a l l y no c h a n g e i s shown i n Government d e p o s i t s . Net demand d e p o s i t s , a s shown a b o v e , i n c r e a s e d b y $ 1 3 1 , 0 0 0 , 0 0 0 , w h i l e t i m e d e p o s i t s show a r e d u c t i o n f o r t h e week of $ 1 0 , 0 0 0 , 0 0 0 . Member b a n k s i n New York C i t y r e p o r t no change i n Government d e p o s i t s , a n i n c r e a s e of $ 6 3 , 0 0 0 , 0 0 0 i n n e t demand d e p o s i t s and a r e d u c t i o n of $ 3 , 0 0 0 , 0 0 0 i n t i m e d e p o s i t s . R e s e r v e b a l a n c e s of t h e r e p o r t i n g i n s t i t u t i o n s w i t h t h e F e d e r a l r e s e r v e b a r k s show a n i n c r e a s e f o r t h e week of $ 4 , 0 0 0 , 0 0 0 , w h i l e c a s h i n v a u l t , l a r g e l y F e d e r a l r e s e r v e n o t e s , i n c r e a s e d b y $ 1 4 , 0 0 0 , 0 0 0 i n a n t i c i p a t i o n of t h e p r e h o l i d a y demand f o r c u r r e n c y . C o r r e s p o n d i n g f i g u r e s f o r New York C i t y b a r k s i n c l u d e a n o m i n a l r e d u c t i o n i n r e s e r v e b a l a n c e s and a g a i n of $ 2 , 0 0 0 , 0 0 0 i n cash on h a n d . R e l e a s e d f o r p u b l i c a t i o n F r i d a y a f t e r n o o n , Dec. 2 3 , I 9J 2 I ;1 n o t e a r l i e r nr- T ' r\~T~~< -tv •• ^ t a x iicjx ^ rhli^vx^ yi..j LIABILITY ITEMS OF REIPO^ I-3G B: IKS III LiSADiro CITIES ' • • — j ^ n o u n t s i n thousands 2£jio l i a r s ) D -v. Ill, ]C 2 1 dumber of r e p o r t i n g b a n k s - June 15, 1921 Doc. 7 , 15? 1 80 g Loans a n d d i s c o u n t s , i n c l u d i n g b i l l s r e d i s c o u n t e d ^ C. 808 817 S e c u r e d by U. S. Govt, o b l i g a t i o n s 1*_~! 505,-7b S e c u r e d by s t o c k s and b o n d s ( o t h e r t h a n U, S, s e c u r i t i e s ) bb8,545 507,434 3,154,7^ A l l o t h e r l o a n s and d i s c o u n t s ~ - - 3.02S528 3,097,1-7 00 7J03,14l 3,193,353 T o t a l l o a n s and d i s c o u n t s 11 ,303,323 11,883,924 11,312,744 U. S . Bonds U, S, V i c t o r y n o t e s 3U0.525 3b7,5';l 929,777 U» S, T r e a s u r y n o t e s _ _ _ _ _ _ _ _ _ _ ^9,553 1-0,493 173,392 122,200 152,435 123,353 U, S , C e r t i f i c a t e s of i n d e b t e d n e s s _ _ _ _ _ _ _ 171,423 - 175,384 265,099 O t h e r b o n d s , s t o c k s and s e c u r i t i e s _ _ _ _ _ _ _ _ _ _ _ _ _ 2,073,511 2,076,90s 2,056,999 T o t a l l o a n s & d i s c o u n t s & i n v e s t , . i n c l u d i n g b i l l s r e d i s ' d . w i t h F,R Bk 1^,765,537 14,753,750 15,429,371 Fte s e r v e b a l a n c e w i t h F . R, Bank ^ ' ' 1,2115,773 1,241,604 1,442,890 Cash i n v a u l t 328,930 313,117 315,174 Net demand d e p o s i t s Time d e p o s i t s Government d e p o s i t s _ _ _ _ — B i l l s payable t h F e d e r a l Reserve Bank: S e c u r e d by U, S. Govt, o b l i g a t i o n s All other B i l l s r e d i s c o u n t e d w i t h F e d e r a l Reserve Bank: S e c u r e d by U. S, Govt, o b l i g a t i o n s All other - - - - - - - _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ R a t i o of b i l l s p a y a b l e a n d r e d i s c o u n t s - / i t h F. S . Bank t o t o t a l l o a n s and i n v e s t m e n t s , p e r c e n t - i ~ - - - s t . 2502a. IT;"l^0 ' 824 901,217 3,103,600 (a) (a) 391,505 197,353 - 373,484 (a) lb,303,22S 1,297,231 331,191 10,333,550 10,208,340 10,383,988 io,8ik,454 2,979 ,5U3 115,21+h 2,939,9b7 2,942,901 2,790,197 115,391 410,608 399,968 231,430 1,647 228,270 1,242 321,82b 2 ,882 635,435 4,239 31,4^4 395,431 34,420 4 1 " , .51 111,440 731,975 252,284 1,139,921 4.5 4.6 7.6 (a) Comparable f i g u r e s n o t a v a i l a b l e . 12.1 R e l e a s e d f o r p u b l i c a t i o n F r i d a y a f t e r n o o n , Dec. 23, 1921' n e t Number of r e -p o r t i n g banks l e a n s and d i s c o u n t s , i n c l u d i n g t i l l s rediscounted with JT. B. Bank: S e c u r e d by U . S . G o v t , o b l i g . t h s s Ug 110 31,146 190,897 - - - — - »• - eg 58 52,432 a= 85 J so g2 ' ^.ar.ta 4 3 6 Chicago 110 112 v- ,uulb St'.^ouis ; 37 #Minn. iini 35 JGns.Cy. D Daallllaass " Aor-s.uy. go 53 San FFran.—Tc San ran. Total" 54 g0g ?n S ;s s ™ » = S; » 3 »'I ™ E *:Z investments, including o i l l s 8>S:S IE B IS E B "El B B B 288,658 1 , 2 4 5 , 4 6 2 1 4 , 7 8 5 , 5 3 7 21,767 80,151 1.245,77s 9,611 23,386 328,980 192,772 616,44i 10,338,550 InUoSery U-S'G0Tt'0llig' —.^. B i l l s r e d i s c o u n t e d w i t h F.B.Bank: " ° 7 :8S2 l M tig > 2 » 2l,2 5 7 19.064 27 500 8,284 - 14,750 10,584 180 2,327 84 8,020 a *8 ,f:S Ag ,tg „?4 s s 59,931 1,818 562,303 7,093 2,979,543 115,246 3,295 303 9,330 553 231,430 1,647 78 9, 853 2,15s 14,287 31,464 399,431 R e l e a s e d f o r ^ u o l i c - i i i o r . F r i d a y a f t s r n c o z . , December 23, 1521; n o t e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BABES IN F , R . BANK AND BRANCH CITIES .AND IN OTHER SELECTED CITIESf Amounts i n t h o u s a n d s of d o l l a r s ) Other F . R. A l l F . R. s e lected c i t i e s c i t i e s Branch Bank c i t i e s C i t y of Chicago New York C i t y Dec. 14 Dec. 7 Dec. 14 Dec. 7 Dec . 14 Dec. 7 Dec. l 4 Dec. 7 Dec. 14 Dec. 7 212 212 319 j 319 68 68 277 51 51 277 Number of r e p o r t i n g banks Loans and d i s c o u n t s , i n c l u d i n g b i l l s r e d i s ' d . w i t h F.R.Bank: 67,490 68,913 ' 86,360 352,163 164,745 85,797 53,007 54,391 356,389 170,731 S e c u r e d by U . S . G o v t , o b l i g . 416,667 418,063 462,224 1 , 2 1 9 , 1 6 2 2 , 2 7 4 , 4 6 0 2 , 2 1 7 , 1 2 9 463,371 3 1 2 , 9 1 0 322,598 1 , 2 5 9 , 5 3 6 S e c u r e d by s t o c k s and bonds 707,045 4 , 8 0 6 , 0 9 6 4,933,238 1,439,370 1,438,174 1,333,434 1,336,729 696,598 2,207,920 2,259,090 A l l o t h e r l o a n s and d i s c o u n t s 3,638,187 3 , 6 4 2 , 9 9 7 1 , 0 7 2 , 2 0 3 1 , 0 7 4 , 3 4 6 7 , 4 9 6 , 9 4 5 7 , 502 , 530 1 , 9 8 7 , 3 9 1 1 , 9 8 7 , 9 0 5 1 , 8 1 8 , 9 8 7 1 , 8 2 2 , 3 0 9 T o t a l l o a n s and d i s c c u n t s 305,357 299,961 22,624 20,634 496,294 488,939 223,569 221,413 220,662 219,425 U. S . V i c t o r y n o t e s 73,247 68,850 11,345 11,468 106,420 99,360 41,512 39,439 21,221 21,694 U. S . T r e a s u r y n o t e s 80,563 80,385 - 3,280 3,280 92,466 93,704 16,450 16,195 13,284 13,454 Us S . C e r t i f i c a t e s of i n d e b t e d n e s s 93,798 96,894 7,539 10,907 126,454 131,202 23,408 25,333 21,561 18,849 O t h e r bonds, s t o c k s and s e c u r i t i e s 552,389 541,306 168,528 164,265 1,148,724 1,129,214 579,015 576,064 350,774 351,721 1,285,519 1,284,900 9,467,303 9,444,949 U. S . bonds T o t a l l o a n s and d i s c o u n t s and investments, including b i l l s r e d i s c o u n t e d w i t h F.R.Bank 4,743,541 4,730,393 2,871,745 2,866,349 2,446,489 2,447,452 12b,402 125,106 910,564 916,622 191,452 185,879 143,762 139,103 93,705 92,079 33,317 32,164 187,480 179,920 59,152 58,974 82,308 76,280 4,173,994 879,970 876,574 7,307,433 7,234,030 285,908 289,407 316,447 318,047 1,388,939 1,396,226 923,825 925,242 666,779 668,499 Government d e p o s i t s 42,459 42,463 13,907 14,332 90,550 90,980 15,443 15,480 9,253 8,931 B i l l s p a y a b l e w i t h F . R. Bank: S e c u r e d by U.S. Govt, o b l i g a t i o n s All other 80,565 79,760 1,518 180 1,681 180 133,425 180 128,816 180 59,710 860 56,519 819 38,295 607 42,935 243 1,620 51,190 1,997 66,278 2,316 33,484 1,429 31,167 20,702 212,671 22,289 221,026 6,910 87,627 7,673 92,341 3,852 99,133 4,458 105,324 2.9 2.7 3-9 5.4 5-5 5.8 Cash i n v a u l t Time d e p o s i t s B i l l s r e d i s c o u n t e d w i t h F . R. Bank: S e c u r e d oy U. S . Govt, o b l i g a t i o n s All other R a t i o of b i l l s p a y a b l e and r e d i s c o u n t s w i t h F . R. Bank to t o t a l l o a n s and investments, per cent -d* Met demand d e p o s i t s O 540,031 £ CVl 538,737 R e s e r v e b a l a n c e w i t h F . R. Bank 2.8 3-1 .3.9 1,592,666 1,556,019 1,438,451 1,418,291 6,2
@FedFRASER