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K STATEMENT FOR THE PRESS St. 5282 F e d e r a l Reserve Board, F e b r u a r y 28, 1927. For immcdi a t e r e l e a s e CONDITION OF MEMBER BANKS IN LEADING CITIES The F e d e r a l Reserve B o a r d ' s c o n d i t i o n statement of 675 r e p o r t i n g member "banks i n l e a d i n g c i t i e s as of February 23, 1927, shows i n c r e a s e s of $23,000,000 i n l o a n s and d i s c o u n t s , $11,000,000 i n i n v e s t m e n t s and $53,000,000 i n time d e p o s i t s , p a r t l y as t h e r e s u l t of t h e merger of a nonmember bank i n San F r a n c i s c o w i t h a r e p o r t i n g member bank, and a r e d u c t i o n of $121,000,000 i n n e t demand d e p o s i t s . Member banks i n New York City r e p o r t e d an increase... of $12,000,000 i n i n v e s t m e n t s , and d e c l i n e s of $62,000,000 i n n e t demand d e p o s i t s and of $17,000,000 i n b o r r o w i n g s from t h e F e d e r a l r e s e r v e bank. Loans on s t o c k s and bonds, i n c l u d i n g U. S. Government o b l i g a t i o n s , were $15,000,000 above l a s t w e e k ' s t o t a l , i n c r e a s e s of • $9,000,000 i n t h e New York d i s t r i c t and $11,000,000 each i n t h e Cleveland and San F r a n c i s c o d i s t r i c t s , r e s p e c t i v e l y , b e i n g o f f s e t i n p a r t by a r e d u c t i o n of $14,000,000 i n t h e Chicago d i s trict. "All o t h e r " l o a n s and d i s c o u n t s i n c r e a s e d $3,000,000 d u r i n g the week, i n c r e a s e s of $25,000,000 i n the San F r a n c i s c o d i s t r i c t and .^15,000,000 i n the Chicago d i s t r i c t , b e i n g p a r t l y o f f s e t by d e c l i n e s of $15,000,000 and $8,000,000 i n the New York and Boston d i s t r i c t s , r e s p e c t i v e l y . Loans t o b r o k e r s and d e a l e r s made by r e p o r t i n g member banks i n New York City were $44,000,000 above t h e February 16 t o t a l , l o a n s f o r o u t - o f - t o w n banks having d e c l i n e d $16,000,000, w h i l e l o a n s f o r own account and f o r o t h e r s i n c r e a s e d $41,000,000 and $19,000,000, r e s p e c t i v e l y . Holdings of !J. S. Government s e c u r i t i e s d e c l i n e d $5,000,000, r e l a t i v e l y small d e c r e a s e s being^ shown f o r a l l d i s t r i c t s except New York, A t l a n t a , Minneapolis and D a l l a s . Holdings of o t h e r bonds, s t o c k s and s e c u r i t i e s were $16,000,000 above the p r e v i o u s w e e k ' s t o t a l , banks i n a l l d i s t r i c t s , except San F r a n c i s c o , r e p o r t i n g small i n c r e a s e s . Net demand d e p o s i t s were $121,000,000 l e s s t h a n a week ago, t h e p r i n c i p a l dec l i n e s b e i n g $70,000,000 i n t h e New York d i s t r i c t and $25,000,000 each i n the Boston and Chicago d i s t r i c t s . Time d e p o s i t s i n c r e a s e d $5o,000,000 a t r e p o r t i n g members i n t h e San F r a n c i s c o d i s t r i c t and $53,000,000 at a l l r e p o r t i n g b a n k s . Borrowings from the F e d e r a l r e s e r v e banks i n c r e a s e d $15,000,000 i n the San F r a n c i s c o d i s t r i c t and $10,000,000 i n the Boston d i s t r i c t , and d e c l i n e d $14,000,000 and $10,000,000 i n the New York and Chicago d i s t r i c t s , r e s p e c t i v e l y . A summary of changes i n the p r i n c i p a l a s s e t s and l i a b i l i t i e s of r e p o r t i n g members d u r i n g t h e week and t h e y e a r ending February 23, 1927, f o l l o w s : ' Increase or decrease Week during Year Loans and d i s c o u n t s , t o t a l . . . . . . . Secured by U.S.Govt, o b l i g a t i o n s . . . Secured by s t o c k s and bonds All o t h e r + $23,000,000 2,000,000 + 17,000,000 + $216,000,000 25,000,000 + 17,000,000 + 3,000,000 + 224,000,000 Investments, t o t a l , U. S. s e c u r i t i e s Other b o n d s , s t o c k s and s e c u r i t i e s + 11,000,000 5,000,000 16,000,000 + + 122,000,000 161,000,000 283,000,000 - 113,000,000 - 48,000,000 Reserve b a l a n c e s w i t h F. R. Banks Cash i n v a u l t + . . . - 121,000,000 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 T o t a l b o r r o w i n g s from F. R. Banks C. + 29,000,000 . . . - 8,000,000 117,000,000 + + 53,000,000 2,000,000 + - 518,000,000 97,000,000 + 1,000,000 - 120,000,000 PRINCIPAL RESOURCES AND I1A3.IIITISS OF REPORTING M5KB3R SAMS H LEADING CITI S (In thousands of d o l l a r s ) Reporting member b amcs All reporting memoer Dames i n New York Ci t.Y Feb. ?eb. 23 1 Feb. lb 1 Feb. 24 Feb. 23 ) Feb. 16 ! 1926 1927 1 1927 1 1926 1927 1 1927 i timber of reporting "banks - - - - - Loans and discounts: Secured "by TJ. s. Government o b l i g a t i o n s Secured "by stocks & "bonds - - - - - - - All other loans and discounts - - - - - - 675 677 142,358 5,443,939 8,560,373 144,bbO 5,426,725 8,552,390 716 54 54 For immediate r e l e a s e St. 5282a Reporting member banks in Chicago Feb. lb | Feb. Feb. 1927 ! 1927 2 3 2 4 2 4 j i 6l 54,458 52,476 49,623 167,375 5,427,270 1,921,600 1,907,263 2,087,335 3,335,753 2,432,853 2,445,576 2,284,109 1 9 2 6 45 45 ho 12,318 646,078 701,220 12,200 659,730 684,570 14,504 615,730 674,695 Total loans and discounts - - - - - - Investments: n. s. Government s e c u r i t i e s - - - - - - Oth r "bonds, stocks and s e c u r i t i e s - - - 14,146,670 14,123,775 13,930,39814,404,076 4,405,315 4,425,902 1I 2,360,165 2,364,705 2,520,933 | 861,540 934,974 855,525 857,663 3,254,419 3,233,570 2,971,164;! 396,889 890,701 1,359,616 1,356,500 1,304,929 153,133 176,318 200,513 Total investments - - - - Total loans and investments - - - 5,614,584 5,603,275 5,492,097 1,753,429 1,746,226 1,792,637 19,761,254 19,727,050 19,422,495 6,162,505 6,151,541 6,213,539 376,831 377,113 380,675 1,621,760 1,740,291 1,733,613 - - - - - - - Reserve b a l a n c e s w i t h F. R. Banks - - - - Cash i n v a u l t - - - - - - - - - - - - - - Afet 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 - - - - - - - - - - - - 1,583,751 282,82b 1,701,433 254,224 1,636,439 291,163 658,714 60,854 715,936 56,182 B i l l s payable and r e d i s c o u n t s v/ith F.R.Banks: Secured "by U.S. Government o b l i g a t i o n s Ml other - - - - - - - - - - - - - - - - 150,884 22,090 697,885 66,671 12,818,360 12,939,058 12,935,088 4,857,947 4,920,464 5,045,236 302,093 5,955,426 5,902,012 5,437,358 934,590 930,547 103,569 28,791 101,790 28,791 49,995 Due f r om ID anic s — — — — — — _ _ _ _ _ _ _ _ _ 1,171,490 __ 88,086 1,193,804 93,391 99,769 Due to hanks - - - - - - - - - - - - - - 3,252,901 3,343,966 1,106,089 1 , 1 0 8 , 4 0 8 1,063,108 . 2 0 1 , 0 1 8 155,583 225,092 2 3 , 9 3 0 5,420 4,785 10,205 162,017 179,120 19,760 1 , 1 7 8 , 4 1 4 1,189,728 528,593 527,583 4,475 4,475 148,434 143,551 373,752 359,351 147,212 166,015 40,800 61,900 115,532 223,943 *76,414 26,394 9,000 138,718 13,154 95,767 T o t a l borrowings from F. R. Banks - - 1 4 1 , 9 2 6 11 *242,429 362,661 242,979 70,900 53,954 Loans t o b r o k e r s and d e a l e r s ( s e c u r e d by s t o c k s and bonds) made by r e p o r t i n g member banks i n Mew York City: For own account 856,066 815,422 l , l 4 $ , 3 9 1 For account of o u t - o f - t o v m banks 1,106,654 1,123,046 1,342,56$ For account of o t h e r s 799,434 780,l56 617,275 Total . . . 2,762,154 2,718,634 3,109,331 On demand 2,103,658 2,069,796 2,139,272 ^ On ti-no G^.HoS 643,333 97C.059 2 22,477 1 , 15,433 5,796 21,234 *Eevised f i g u r e s 1 5 2 , 4 3 2 516,494 12,947 152,533 384,405 6,415 3,719 10,134 St. 5282b For immediate r e l e a s e T PRINCIPAL RESOURCES AND LIABILITIES OF A L REPORTING MEMBER BAMS IN EACH FEDERAL RESERVE DISTRICT AS AT CLOSE OF BUSINESS, FEBRUARY 23, 1927. ( i n thousands of d o l l a r s ) Total Gleve. Rich. A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. D a l l a s San Fran. Phila. Boston New York F e d e r a l Reserve D i s t r i c t 37 dumber of r e p o r t i n g banks Loans and d i s c o u n t s , g r o s s : Secured by U.S.Govt, o b l i g . Secured by stocks and bonds All o t h e r loans & d i s c o u n t s 49 7,475 52,4o4 10,292 330,347 2,230,788 416,894 637,571 2,772,144 369,647 72 67 35 97 31 24 66 44 21,076 5,342 5,626 19,428 4,808 3,361 4 j 4 i 2,446 552,311 151,789 109,735 859,809 187,067 80,239 111,661 78,679 782,145 3o5,605 386.104 1.261,937.303,664 156.081 302.696 248.545 61 675 5,759 142,358 334,620 5,443,939 974.234 8.560.373 975,393 5,055,336 796,833 1,355,532 522,736 501,465 2,141,174 495,539 239,681 418,698 329,670 1,314,613 14,146,670 T o t a l l o a n s and d i s c o u n t s Investments: U.S. Government s e c u r i t i e s Other bonds, s t o c k s & s e c u r . 134,656 256,029 390,685 T o t a l investments T o t a l l o a n s and investments 92 1 ,306,078 Reserve b a l a n c e s with F.R. Bk. Cash i n v a u l t 90,614 19,022 953,396 86,953 262,446 65,337 4o,6o4 284,411 1,223,219 281,722 364,272 72,330 61,254 467.495 2,176,615 368,675 626,718 137,667 101,858 751,906 7,231,9511 ,165,508 1,982,250 660,403 603,323 2,893,080 719,846 82,899 126,173 42,156 41,492 216,096 76,246 16,988 32,869 15,720 12,370 47,119 72,323 65,285 53.336 194,443 118,621 689,982 358,302 4s,514 25,073 8,067 6,519 122.120 102,664 Q6.605 199,269 617,967 58,46o 12,987 52,189 239,901 2,360,165 23,534 232,503 3.254.419 75,723 472,4o4 5,614,584 405,393 1,787,017 19,761,254 31,369 106,059 1,588,751 23,562 282,826 11,357 Net demand d e p o s i t s Time d e 0 0 s i t s Government d e p o s i t s 887,573 5,434,685 778,126 1,028,861 384,269 341,552 1,758,689 403,851 216,944 501,973 285,245 421,226 1,387,893 253,216 825,348 214,ll4 232,448 1,055,715 233,857 124,538 147,754 108,479 31,111 14,759 8,302 9,442 2,763 2,875 6,724 10,095 533 1,447 3,312 796,592 12,818,360 950,838 5,955,426 12,206 103,569 Dae from banks Due t o banks 52,752 128,280 61,085 136,641 1,164,654 170,995 101,170 227,116 64,816 47,446 134,891 64,575 501,071 147,797 93,428 221,385 109,020 161,597 1,171,490 237,562 3,252,901 B i l l s payable and r e d i s c o u n t s with F. R. Bank: Secured by U.S.Govt, o b l i g . All o t h e r T o t a l borrowings f r o m F. R. Bank 52,824 74,938 238,983 110,934 120,431 3,058 15,925 14,010 50,005 3,665 4,781 18,838 11,019 3,047 74 7,633 10,653 28,335 17.176 2,490 5.175 1.154 3,647 1.010 18,983 64,015 8,446 29,857 10,680 10,727 45,511 7,665 1,154 4,657 925 33,128 6.418 147,212 -35.767 1,738 39,546 242,979 _811
@FedFRASER