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STATEMENT FOR THE PRESS St, 3290 Released f or publication Federal Reserve 3oard, Friday afternoon, Jan. 11; January 10, 1924. not e a r l i e r . CONDITION OF MEMBER BANKS IN LEADING CITIES Aggregate increases of $132,000,000 in loans and investments and of $404,000,000 in net demand deposits accompanied with a decrease of $41,000,000 in accommodation at the Federal reserve banks are shown in the Federal Reserve Board's weekly consolidated statement of condition of January 2 of 766 member banks in leading c i t i e s . I-oans and disccants increased by $133,000,000, increases of $11,000,000 ' in loans secured by U. S. Government obligations and of $172,COO,000 in loans secured by corporate stocks and bonds being o f f s e t in part by a decrease of $50,000,000 in a l l other, largely commercial, loans and discounts. Investments of a l l reporting banks show but a nominal reduction, decreases of $36,000,000 in holdings of U. S. Government securities being nearly o f f s e t ty an increase of $351000,000 in holdings of other bonds, stocks and s e c u r i t i e s . Loans and discounts of member banks in New York City show an increase of $118,000,000, loans on U. S, Government obligations increased by $12,000,000 and loans on corporate stocks and bonds increased by $125,000,000, while a l l other, largely commercial loans and discounts declined by $19*000,000. Investments of these banks increased ty $14,000,000, a decline of $5,000,000 in U. S. Government securities being more than o f f s e t by an increase of $19*000,000 in other bonds, stocks and s e c u r i t i e s . Demand deposits (net) show substantial increases in most of the Federal reserve •districts. The New York d i s t r i c t shows an increase of $222,000,000, the Boston dist r i c t - $50,000,000, and the Chicago d i s t r i c t - $43,000,000. Time deposits of a l l reporting banks show an increase of $32,000,000 and U. S. Government deposits a decline of $23,000,000. The New York City members show an increase of $10,000,000 in time deposits and a decrease of $6,000,000 in U. S. Government deposits. Reserve balances of a l l reporting members, in keeping with the large increase in deposits, show an increase of $76,000,000, while cash in vault declined by $33,000,000. Member banks in New York City report an increase of $54,000,000 in reserve balances and a reduction of $12,000,000 in cash. Borrowings of all reporting institutions from the Federal reserve banks show a decline from $574,000,000 to $533,000,000 or from 3-5 t o 3-2 per cent in the ratio of these borrowings to t h e i r combined loans and investments. An increase from $123,000,000 to $150,000,000 in borrowings from the local reserve bank is reported for the New York City members. A summary of changes in the principal assets and l i a b i l i t i e s of reporting members during the week and the year ending January 2, 1924, follows: Loans and discounts - total t Secured fcy U. S. Government obligations . . . Secured by stocks and bonds All other . Investments, total . U. S, bonds U. S. Treasury notes U. S, C e r t i f i c a t e s of indebtedness Other bonds, stocks and s e c u r i t i e s Increase or decrease durinsr Week Year +$133,000,000 +$447,000,000 + 11,000,000 - 67,000,000 + 172,000,000 + 120,000,000 - 50,000,000 + 394,000,000 1,000,000 - 176,000,000 - 18,000,000 - 1 3 5 , 0 0 0 , 0 0 0 - 10,000,000 + 42,000,000 8,000,000 - 94,000,000 + 35,000,000 + 9,000,000 Reserve balances with F. R. Banks Cash in vault + - Net demand deposits . . . . . Time deposits Government deposits + 404,000,000 + 32,000,000 - 23,000,000 59,000,000 + 356,000,000 - + 143,000,000 Total accommodation at F. R, Banks c. . . . . 76,000,000 33,000,000 41,000,000 - 3,000,000 4,000,000 - 189,000,000 Released f o r p u b l i c a t i o n Friday a f t e r n o o n , January 11, 192.4^ not e a r l i e r . S„. -/ S90a, PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING- CITIES ( I n thousands of d o l l a r s ) J a n . 2, 1924 766 Number of r e p o r t i n g oanks - - - - - - - - - - - - - - - - - - Loans and d i s c o u n t s , g r o s s : Secured by U. S. Government o b l i g a t i o n s - - - - - - - - - - - Secured by s t o c k s and bends ( o t h e r than U. S. s e c u r i t i e s ) - All other loans and d i s c cunts - - - - - - - - - - - - - - - - - Dec. 26, 19 23 J u l y 3, 1923 764 77 3 — Jan. 3, 1923 783 7,79 7,926 228,3b5 3,557,662 7,848,307 257,216 3,279 , 577 7,814,660 305,905 3,909,3927,404,078 12,066,813 11,934,334 11,951,453 '11,619,375 269,753 275,460 280,359 1,005,330 1,016,279 1,058,329 275,280 1,083,886 - - - - - - - - - - - - - - - - - - - - - - 80,112 81,052 95,256 U. S. Treasury n o t e s - - - - - - - - - - - - - - - - - - - - - U. S. C e r t i f i c a t e s of indebtedness _ _ _ _ _ _ _ 842,914 852,965 949,174 131,399 *800,829 115,803 123,464 127,662 209,857 2,240,815 2,206,111 2,162,371 2,232,072 16,621,540 l6,489,665 16,624,6-04 lb,352,69c 1,455,032 1,378,672 1,441,086 1,457,93.1 Cash in v a u l t - - - - - - - - - - - - - - - - - - - - - - - - - - 322,404 ^55,454 285,248 326,250 Net de.nand d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - 11,438,129 ll,034,0b3 11,252,915 4,103,935 lo2,783 4,072,029 185,938 4,011,974 227,106 11,527,350 3,748,208 300,501 232,777 305,620 269,17 s 364,222 279,950 3.2 3.5 T o t a l loans and d i s c o u n t s U. S. Pre-war bonds - - - - - - - - - - - - - - - - - - - - - - U. S. L i b e r t y bonds - - - - - - - - - - - - - - - - - - - - - - U. S. Treasury bonds Other bonds, s t o c k s and s e c u r i t i e s Total loans and d i s c c u n t s and investments - - - - - - - - - Reserve balance with F e d e r a l Reserve Banks Time d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - Government d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - B i l l s payable and r e d i s c o u n t s with Federal Reserve Banks: Secured by U. S. Government o b l i g a t i o n s - - - - - - - - - - - All o t h e r - - - - - - - - - - - - - - - - - - - - - - - - - - - Ratio of b i l l s payable and r e d i s c o u n t s with Federal Reserve Banks to t o t a l loans and "investments, p e r cent - - - - - C. 238,929 4,029,958 3-9 * Includes V i c t o r y n o t e s . 351,373 253,784 136,411 2.4 Released f o r p u b l i c a t i o n Friday a f t e r n o o n , January 11, 1924; n o t e a r l i e r . S t . j?90b. PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AS AT CLOSE OF BUSINESS, JANUARY 2,1924. (In thousands of d o l l a r s ) __ F e d e r a l Reserve D i s t r i c t Boston New York P h i l a . Cleve. 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. Total Number of r e p o r t i n g banks 4) 112 55 80 76 39 105 35 28 73 52 68 ]S6 Loans and d i s c o u n t s , g r o s s : Secured by U . S . G o v t , o b l i g . 13,511 9 0 , 7 8 6 15,145 29,4l6 9,071 9,353 35,147 11,821 4,028 6,010 3 , 1 8 8 11,453 238,929 S e c u r e d by s t o c k s & bonds 243,780 1,781,009 273,461 408,339 123,720 65,536 6 1 8 , 6 1 3 148,690 4 0 , 9 6 0 78,453 6 4 , 5 6 8 182,829 4,029,958 A l l Other l o a n s & d i s c o u n t s 6 3 3 , 5 8 6 2 , 4 4 5 , 9 7 8 335,987 7,797,926 T o t a l l o a n s and d i s c o u n t s 890,877 4 , 3 1 7 , 7 7 3 624,593 1,117,159 465,644 447,184 1,774,799 4 7 3 , 1 2 4 2 3 6 , 0 6 5 4 2 4 , 8 8 9 286,794 1,007,912 1 2 , 0 6 6 , 8 1 3 U. U. U. U. S. S. S. S. Pre-war bonds L i b e r t y bonds T r e a s u r y bonds Treasury notes U. 5. C e r t i f i c a t e s of Indebtedness Other bonds, s t o c k s and securities 813,630 20,480 15,168 24,645 94,094 12,858 36,252 269,753 1,005,330 80,112 27,534 14,578 14,932 2,920 1,720 51,455 15,170 6,144 24,798 103,776 12,365 117,888 6,33S 6,628 2,132 6,420 774,568 183,547 320,090 50,031 42,517 48,087 105,291 4,464 28,795 474,127 10,694 43,630 3,121 43,850 28,156 12,751 76,859 3,400 49,032 443,593 21,537 6,945 169,807 679,404 332,853 372,295 1 , 1 2 1 , 0 3 9 312,613 191,077 340,426 219,038 26,173 15,192 23,262 9,l6l 12,435 11,540 44,756 16,623 955 28,872 15,836 1,963 15,130 20,326 8,836 2,625 2,849 6,700 17,848 115,803 350,143 88,110 28,709 60,427 13,941 158,925 2,240,815 6,919 3,254 842,914 T o t a l l o a n s and d i s c o u n t s and investments 1 ,182,176 6,113,422 9 1 5 , 8 0 3 1 , 6 5 3 , 1 7 4 5 9 2 , 2 2 6 533,495 2 , 4 0 4 , 0 9 5 632,066 318,822 563,551 360,176 1,352,534 16,621,540 204,498 40,752 2 2 , 9 0 9 40,872 2 4 , 7 7 1 9 2 , 2 7 8 1,455,032 105,085 3 7 , 8 9 0 37,812 687,242 71,3*2 89,551 Reserve balance w i t h F.R.Bk. 9,868 6 , 7 7 6 13,352 12,058 61,479 26,050 322,404 3 4 , 7 9 0 1 6 , 1 5 5 13,234 8 9 , 5 9 1 17,266 21,785 Cash in v a u l t Net demand d e p o s i t s 837,965 4 , 9 2 3 , 2 0 4 680,833 Time d e p o s i t s 268,143 Government d e p o s i t s 15,835 B i l l s p a y a b l e and r e d i s c o u n t s with F. R. Bank: S e c u r e d by U . S . G o v t . O b l i g . 7,268 All Other 30,252 C. 9 0 6 , 8 7 9 123,415 892,380 3 5 4 , 6 7 8 288,207 1,513,613 350,651 201,026 395,381 251,605 748,586 1 1 , 4 3 8 , 1 2 9 607,435 1 5 2 , 5 3 2 181,198 797,347 196,033 48,021 12,887 22,176 5,529 9,006 16,801 5,442 158,656 16,383 7,343 15,109 21,007 16,183 18,462 H,0i6 28,893 40,193 20,630 9,726 30,602 25,446 8 5 , 9 3 4 131,528 84,574 568,967 4,103,985 1,747 6,911 16,436 162,783 11,752 16,983 75 2,584 27,470 1.992 . 3,505 3,105 10,635 300,501 232,777 Be leased 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 , January 11, 1924; n o t e a r l i e r . S t . >890c. PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN F. R. BANK AND BRANCH CITIES AND IN OTHER SELECTED CITIES ( i n thousands of d o l l a r s ) All F. R. F. R. Other City of Chicago New York City Bank c i t i e s Branch c i t i e s selected c i t i e s J a n . 2 Dec. 26 J a n . 2 Dec. 26 Jail. 2 Dec. 26 J a n . 2 Dec. 26 Jan. 2 Dec. 26 48 Number of r e p o r t i n g banks 67 67 49 304 304 207 203 257 255 Loans and d i s c o u n t s , g r o s s : 1 6 0 , 6 66 Secured by U. S. Govt. o b l i g a t i o n s 82,948 27,242 26,389 71,090 42,530 40,814 150,579 36,972 35,733 465,088 2 , 8 8 8 , 2 0 6 2,723,746 440,290 Secured by s t o c k s and bonds 1,580,383 1,455,126 618,443 613,949 519,967 523,309 All o t h e r loans and d i s c o u n t s 652,054 662,391 4,784,136 4,816,873 1,643,790 1,658,494 1,370,000 1,372,940 2,138,223 2,157,752 T o t a l loans and d i s c o u n t s U. S. Pre-war bonds U. S. L i b e r t y bonds U. S. Treasury bonds U. S. Treasury n o t e s U. S. C e r t i f i c a t e s of indebtedness Other bonds, s t o c k s , and s e c u r i t i e s Total loans and d i s c o u n t s and inves t rr.ents Reserve b a l a n c e w i t h F. R. Bank Cash in v a u l t Net derrand 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 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 a t i o n s All o t h e r R a t i o of b i l l s payable and r e d i s c o u n t s with F. R. Bank t o t o t a l loans and investments, p e r cent C. for FRASER Digitized 3,801,554 3,683,968 1,143,531 1,129,923 7,833,008 88,650 94,101 1 46,918 4,197 45,792 613,250 7,691,198 2,304,763 2,313,257 1,929,042 1,929,879 385,662 38,052 ,392,027 17,785 444,741 17,757 443,062 5,216 5,304 41,478 41,650 19,163 19,718 19,471 19,684 79 , 325 80,128 640,103 640,970 135,020 139,755 67,791 72,240 24,966 24,877 11,277 11,085 70,216 68,660 39,468 13,790 15,336 559,052 539,583 172,520 171,468 1,185,075 1,166,985 595,246 443,438 443,880 38,052 5,271,812 5,139,326 585,242 639,412 72,230 84,070 4,407,251 4,212,831 4,198 1,462,985 1,447,897 140,532 141,776 32,543 74,499 231,785 106,636 166,660 106,860 619,945 74,467 225,420 31,797 • 612,302 10,471,780 10,323,509 3,402,932 3,413,728 2,746,828 2,752,428 1,048,198 980,179 169,498 170,180 237,336 228,313 32,345 158,277 1,032,639 1,003,369 184,013 71,906 76,461 619,180 608,230 375,942 378,930 44,154 50,483 8,143 9,316 104,531 119,573 45,495 131,900 18,148 96,600 26,651 21,407 19,827 9,709 204,217 121,701 181,790 148,913 65,919 78,000 58,493 66,418 3.1 3-2 2.8 2.4 1.9 2.0 92,221 94,980 7 , 5 0 2 , 8 8 7 1,955,820 1,886,517 1,689,080 1 , 5 4 4 , 6 5 9 874,284 1,935,445 1,225,218 1,220,450 866,134 7,793,229 2,004,483 6,812 164,549 3.7 51,970 4.2 12,757 14,395 30,365 45,830 53,847 52,533 3.0 3.6
@FedFRASER