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statement f o r the pbebs Released for p u b l i c a t i o n S t , 1680 Monday morning, Dec * 27$ Federal Reserve Board, not e a r l i e r » December 24, 1920« CONDITION OF MEMBER BANKS IN LEADING CITIES Tax payments due on December 15 and the seiries cf Government operations connected with the redemption and i s s u e of tax c e r t i f i c a t e s were mainly responsible f o r the changes i n the banking corv d i t i o n indicated by December 17 reports of 824 member banks in leading c i t i e s . About 400 m i l l i o n s of Government funds are shown on d e p o s i t w i t h reporting member banks, an i n c r e a s e of millions for the week; which enabled the member banks to reduce by 112 m i l l i o n s t h e i r borrowings from the Reserve Banks notwithstanding the large i n c r e a s e i n the reporting banks' loans and investments, Holdings of United States bonds and Victory n o t e s shew an i n crease of 5*4 m i l l i o n s , while those of Treasury c e r t i f i c a t e s went up about 120 m i l l i o n s at a l l reporting banks, and ^0.5 m i l l i o n s at the New York City member banks« Loans secured by Government war o b l i g a t i o n s increased by 7*5 m i l l i o n s , loans supported by corporate s e c u r i t i e s - by 3 6 . 4 m i l l i o n s and other loans and investments, composed l a r g e l y of commercial loans and d i s c o u n t s , - by 52.5 m i l l i o n s . For the New York City banks a s l i g h t decrease i n loans secured by Government war o b l i g a t i o n s , as a g a i n s t a 25*8 m i l l i o n increase i n loans supported by,corporate s e c u r i t i e s and a 6 . 6 m i l l i o n , increase i n other loans and investments, are shown. Total loans and i n v e s t ments of a l l reporting i n s t i t u t i o n s are shown 221.7 m i l l i o n s larger than on the preceding Friday, the corresponding i n c r e a s e f o r the New York City banks being 122,6 m i l l i o n s . Accommodation of reporting banks at the Federal Reserve Banks shows a reduction for the Week from 2 , l 4 4 . 1 to 2 , 0 3 2 m i l l i o n s , or frcn 12-9 to 12.1 per cent of the banks' t o t a l loans and investments. For the New York City banks a reduction in accommodation at the l o c a l Reserve Bank from 822.9 to 752-9 m i l l i o n s i s shown", reducing the r a t i o of accommodation from about 15 to 13*4 per c e n t . It may be w o r t h w h i l e n o t i n g that the large increase of 382-7 m i l l i o n s i n Government d e p o s i t s - representing to a large e x t e n t the proceeds of income and excess p r o f i t s taxes - is o coi^siderably larger than the corresponding i n c r e a s e s shown for t h e / t h r e e F r i d a y s of the present year f o l l o w i n g the quarterly tax i n s t a l l m e n t s * The New York City banks report a corresponding increase of 190«3 m i l l i o n s for the week, which i s l i k e w i s e larger than the gains shown on Fridays f o l lowing the previous quarterly t a x d a t e s . Other demand d e p o s i t s (net) show a reduction of 51 • ! m i l l i o n s , while time d e p o s i t s f e l l o f f 19*3 m i l l i o n s . In New York City n e t demand d e p o s i t s increased by 2 1 . 8 m i l l i o n s , while time d e p o s i t s f e l l o f f 11.8 m i l l i o n s . Reserve balances, i n keeping w i t h the large reductions i n member banks' borrowings frcm the Reserve Banks, show a d e c l i n e of 31 m i l l i o n s , while cash i n vault shows an i n c r e a s e f o r the week of about 5 m i l l i o n s . For the New York City banks d e c r e a s e s of 4 , 7 m i l l i o n s i n reserve balances and of 2.7 m i l l i o n s in cash are n o t e d . pie l e a s e d f o r -cublicatiori Mender/ m c r n i n - , December 27, 1920; n o t e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING 'IFMIER MHCS IN LEADING CITIES _ _ : (Aaounts i n thousands of <o l i a r s ) Dec. 10, 1920 Dec. 17, 1920 824 823 Number of r e p o r t i n g "banks - - - - - - - - - - - - - - - - - - - - - - - - - St .IbSOa. June 18,1920 Sl4 Dec. 19,1919 796 269,434 269,264 269,705 269,188 622,071 617,205 607,162 626,297 197,853 197,569 200,472 24i,9io 373.486 253.577 510, 653 844.309 1,462,844 1,337,615 1,587,992 1,981,704 Loans and i n v e s t m e 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 w i t h F.R.Bank: Loans secured by U. S. war o b l i g a t i o n s - - - - - - - - - - - - - - - - - Loans secured by s t o c k s and bonds other than U. S. s e c u r i t i e s - - - - - - * A l l o t h e r l o a n s and i n v e s t m e n t s - - - - - - - - - - - - - - - - - - - - - - 904,145 3,100,672 llr335.565 3,064,266 11,283.099 896,565 1,025,9^5 3,113, l 4 l 11.193.825 1,328,907 3,270,5H 9.825.995 ' T o t a l loans and i n v e s t m e 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 w i t h F.R.Bank - - - 16, 803,226 16,581,545 16,920,903 16,407,117 Reserve balance w i t h F. R. Bank - - - - - - - - - - - - - - - - - - - - - - - 1,293,478 1,330,267 1,368,251 1,316,937 Cash i n v a u l t - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 381,191 376,196 366,091 403,554 Net demand d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 10, 814,454 10,865, 582 11,514,285 11,195,085 •Time d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2,790,1:7 2,809,474 2,684,497 2,293,384 Government d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 399,968 ^7,298 267,613 647,898 B i l l s payable w i t h F e d e r a l Reserve Bank: Secured by U. S . war o b l i g a t i o n s - - - - - - - - - - - - - - - - - - - - A l l other - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 635,485 4,289 672,49 s 1,174 841,368 4,735 223,837 875,761 306,274 486,037 U, S. "bends to s e c u r e c i r c u l a t i o n _ _ _ _ _ _ _ _ Other U. S . "bonds i n c l u d i n g L i b e r t y "bonds - - - - - - - - - - - - - - - - - - U, S . V i c t o r y n o t e s 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 T o t a l U. S. s e c u r i t i e s B - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -- - 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: Secured by U. S. war o b l i g a t i o n s - - - - - - - - - - - - - - - - - - - - All other - - - - - - - - - - - - - - - - - - - - - - - - - - — - - — ' x E a t i o of U. S. wap s e c u r i t i e s and war loan paper to t a t a l l o a n s and i n v e s t m e n t s , i n c l u d i n g r e d i s c o u n t s w i t h F e d e r a l Reserve Bank, p e r cent - 252,284 1,139,921 12.5 630,403 3,919 • 252,412 1,257,431 11,8 13.9 18.5 „ K r e l e a s e d for p u b l i c a t i o n Monday morning,. December 27, 1920; not e a r l i e r . St 1680b PBIlxTCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING 1®£BER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS DECEMBER 17, I920. —51 rT~5e , . in thousands of d o l l a r s ) C l e (Amounts 6W k Ph a B1C nu 59 ' ^' AtlSfa Minn. Kans^Cy. D a l l a s San Pran. total v U 58 51 b 824 u . S. bonds to secure ^ ^ " 0i5 ^ 9 ^Ll\e <:tZ ^iT ^ ^ " " t o n a s kl°" 1 2 mcindin. ' i:TS;E:r„ lf- '7U U '3"7 U 2 '5y ^1° 2 S.00g lU . 6 70 Its $S 6S %s t s gfls t§;gg 4;§1 stiTrcities 21,547 16,121 7,571 It, 751 19,551 32,64g •» as 1;S tig as 40 269,434 Loans and investments includ^ ing b i l l s redisccunted with" • : J:§ »l:l J:S ,11 ,i:lSS including rediscounts w i t n F. R. Bank l , 116,007 6,326,054 925,492 1,536,998 6 o s , 6 o i Reserve balance with F.R.Banlc Cash i n Vault Fet demand d e p o s i t s ^ ^Time d e p o s i t s 554,U26 2,450,392 584,129 356,222 661,*04$ 352,469 1,331,375 16,803,226 79,750 621,055 6l,324 102,282 35,724 28,095 168,037 37,918 20,305 42,366 22,880 78,742 1,298,478 27,s4o 123,000 22,442 39,177 18, l45 l4,529 64,069 11,328 8,218 l4,7g8 11,088 26,557 381,191 780,564 4,887,166 654,250 9l4,296 328,667 232,442 1,287,119 306,21b 188,954 337,976 215,277 631,527 10,814,454 158,474 420,200 3 7,239 ' 385,399 106,710 149,i4o 33,108 202,671 32,000 47,555 9,551 3,534 33,993 31,130 309,971 44,756 31,100 29,560 31,288 66,110 Government d e p o s i t s 644,790 130,554 71,118 99,475 57,94o 529,158 2,790,197 10,365 5,379 6,427 2,112 13,273 '39^968 21,973 7,984 19,925 13,177 28,511 635,485 B i l l s payable with E. P. Bank: Ai?' % !?' 3 ' War o b l l g A 1 other s ,ar ' B i l l s rediscornted with F.R.Banlc: --' ' ~ - - 36 42 3,165 a:?§.&§! $MI « - 847 25 - 174 4,289 45S 7^ vl-jal |r * Released, f o r p u b l i c a t i o n Monday morn i n - , Dscec-ber 27, 1920; n o t e a r l i e r . St.lSSDc. PRINCIPAL RESOURCE AND LIABILITY ITMS OF REPORTING IHSIEER BASCS IN F . B. EAFX il-TD BRANCH CITIES AND ALL OTHER REPORTING- BANKS. — (Amounts i n t h o u s a n d s of d o l l a r s ) A l l F . R. F . R. All other New York C i t y C i t y of Chicago Bank c i t i e s Branch c i t i e s r e p o r t i n g banks Dec. 17 Dec. 10 Dec. 17 Dec. 10 Dec. 17 Dec. 10 Dec, 17 Dec. 10 Dec. 17 Dec. 10 Number of r e p o r t i n g banks 72 72 51 51 287 287 209 208 328 328 U . ^ . tends to s e c u r e c i r c u l a t i o n • 32,099 37,92% 1,%38 1,%38 96,572 96,%97 72,%33 72,385 100,429 100,382 Otner U. S . b c n a s , i n c l u d i n g L i b e r t y bonds 216,256 217,8? 1 18,291 17,%15 3%3,00% 3U1,200 156,899 154,056 122,168 121,9%9 J. s . Victory notes 79,587 77,871 12,910 12,127 113,982 110,270 %,6l7 53 , 719 3%,25% 33,580 V 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 18%. 55% 9%,071 11.721 l6 T 053 265.86s 153.79% 6%, 898 61.110 42.723 3 8.671 T o t a l U. S . s e c u r i t i e s ^ 5I8,%9& 427/739 %%,36o %7,033 819,%23 701,761 3%3,8%7 3%1,270 299,57% 29%,58% Loans and i n v e s t m e 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 w i t h F . P.. Bank: . Loans secured by U.S.war o b l i g a t i o n s %00,33% %00,7S2 68,523 62,95% 673,%9% 667,077 135,897 13% 57% 9% 75% 9% 91% Loans s e c u r e d by s t o c k s and bonds 1 , 1 6 0 , 3 5 2 1,13%,602 333,356 33%,673 2,193,7%2 2 , 1 5 7 , 0 6 0 %91,o57 %92,>21% %15'"273 %1%*992 , c x - l o a r s and i r v i s t e e n t s 3 . 5 2 8 . 9 5 7 3,522,37% 1 , 0 3 2 . 2 0 8 1 . 0 2 1 . 2 2 9 7 . 2 3 2 . 7 0 2 7 . 2 0 0 , 6 0 3 2 . 2 5 9 , 8 0 2 2.23%. 121 1 . 8 % " . 0 6 l 1.8%8.375 T o t a l l o a n s end i n v e s t m e n t s i n c l u d " ^ ' ' ^ — i n g r e d i s c o u n t s w i t h F . P - Bank 5,608,139 5,%85,%97 1,%78,%%7 1,%65,889 1 0 , 9 1 9 , 3 6 1 1 0 , 7 2 6 , 5 0 1 3 , 2 3 1 , 2 0 3 3 , 2 0 2 , 1 7 9 2 , 6 5 2 , 6 6 2 2 , 6 5 2 , 8 6 5 Re s e r v e balance w i t h F . R . Bank 581, %00 586,096 119,309 126,533 950,616 97%, 729 198, U19 20%, 291 Cash i n v a u l t 108,767 i l l , 5%9 37,231 36,%66 221,716 218,635 75,662 70,517 %,%o%,852 %,383,062 895,199 912,125 7,590,0%8 7,605,759 1,693,726 1,716,710 Net demand d e p o s i t s l%9,%%3 151,2%7 83,813 87,0%% 1,530,680 1,543,113 Time d e p o s i t s 279,913 291,735 303,931 302,603 1,271,266 1, 2 8 2 , 7 0 i 907,017 913,636 611,91% 613,137 Government d e p o s i t s 197,6%! 7,270 17,566 1,016 31%, 965 13,105 51,995 3,010 33,008 1,183 B i l l s p a y a b l e w i t h P . P . Bank: Secured by U. S . war o b l i g a t i o n s A l l other 279,473 238,136 16,17% 2,815 23,06% 500 %2%,6l0 2,815 390,398 500 135,6%6 182 151,57% 1,807 75,229 1,292 88,%31 1,612 10,09% 205,128 8l6,%%2 207,93% 927,877 34,32% 168,358 165,855 31,567 12, S32 155,121 163,699 12.8 11.9 12.6 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 by U. S . war o b l i g a t i o n s All other 122,873 350,571 %Ratio of U. S. war s e c u r i t i e s and war l o a n * p e p e r t o t o t a l l o a n s and i n v e s t m e n t s , i n c l u d i n g r e d i s c o u n t s w i t h F . R . B k . , p e r c e n t 15*7 12%, %10 %6o,366 165,097 160,210 1%.% 7.5 7.% U , 0%3 12.6 11.1 12,911 10-9
@FedFRASER