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Form FR-284 For immediate release Board of Governors STATEMENT FOR THE PRESS of the Federal Reserve System January 24, 1938 Condition of Weekly Reporting Member Banks in 101 Leading Cities The condition statement of weekly reporting member banks in 101 leading cities shows the following principal changes for the week ended January 19* Decreases of $63,000,000 in commercial, industrial and agricultural loans and $30,000,000 in loans to brokers and dealers in securities; increases of $46,000,000 in holdings of United States Government direct obligations and $13,000,000 in "Other securities"; increases of $4-7,000,000 in reserve balances with Federal Reserve banks and $66,000,000 in balances with domestic banks; an increase of $24,000,000 in demand deposits—ad justed, a decrease of $21,000,000 in time deposits, and an increase of $69,000,000 in deposits credited to domestic banks* Commercial,industrial and agricultural loans declined somewhat in most of the districts* the principal decrease being $34,000,000 in New York City and the total decrease/ 000,000 at all reporting member banks. Loans to brokers and dealers in securities declined $28,000,000 in New York City and $30,000,000 at all reporting, member banks. Holdings of United States Government direct obligations increased $52,000,000 in New York City and $46,000,000 at all reporting member banks, and declined $13,000,000 in the Chicago district and $6,000,000 in the Richmond district. A decline of $10,000,000 in holdings of obligations fully guaranteed by the United States Government in the Richmond district was largely offset by increases in the other districts, all reporting member banks showing a net reduction of $1,000,000 for the week. Holdings of "Other securities" increased $8,000,000 in New York City and $13,000,000 at all reporting member banks. Demand deposits—adjusted increased $37,000,000 in New York City and $24,000,000 at all reporting member banks, and declined $8,000,000 each in the Chicago and St. Louis districts. Government deposits declined $12,000,000 in New York City and $21,000,000 at all reporting member banks. Deposits credited to domestic banks increased $48,000,000 in New York City and $69,000,000 at nil reporting member banks. Deposits credited to foreign banks declined $8,000,000 in New York City. Weekly reporting member banks reported no borrowings on January 19. A summary of the principal assets and liabilities of the reporting member banks, together with changes for the week and the year ended January 19, 1938, follows: (in millions of dollarsj Increase or decrease since Jan. J an. 20, Jan. 12, 19, 1937 1938 1938 ASSETS -1,372 —48 Loans and Investments - total 21,285 +166 -106 Loans — total 9,089 Commercial, industrial, and agricultural loans I * -1 On securities 568 * -62 Otherwise secured and unsecured 3,870 * -1 Open market paper 459 -398 -30 Loans to brokers and dealers in securities 812 * -4 Other loans for purchasing or carrying securities 621 +9 -2 Real estate loans 1,162 +10 +1 Loans to banks 67 * -2 Other loans t On securities 718 * -5 Otherwise secured and unsecured 812 -1,119 +46 U. S. Government direct obligation* 8,143 -99 -1 Obligations fully guaranteed by U. S. Gov't 1,130 -320 +13 Other securities 2,923 +322 +47 Reserve with Federal Reserve banks 5,647 -87 -28 Cash in vault 302 -285 +66 Balances with domestic banks 2,023 L I A B I L I T I E S -1,060 +24 Demand deposits^-adjusted 14,487 +149 -4 Time deposits 5,199 +94 —21 U. S. Government deposits 654 -726 +69 Interbank deposits: Domestic banks 5,333 -11 Foreign banks 421 —6 -7 Borrowings •^Comparable figures not available. Form Fft-284-a STATEMENT FOR THE PRESS Board of Governors of the Federal Reserve System January 20, 1938 For immediate release ASSETS AND LIABILITIES OF WEEKLY REPORTING MEMBER BANKS IN CENTRAL RESERVE CITIES (In millions of dollars) Chicago New York On I 9 2J. 1-2,3. 15-17 1 ?_2_8 Jan. 19 Jan. 12 Jan. 20 'cm. 19| Jan. 12 Jan. ASSETS Loans and Investments - total 7,852 7,852 8,568 1,929 1,941 2,070 Loans - total 3,344- 3,413 3,497 617 622 573 * * * 30 384 28 36 30 389 26 37 * 73 13 1 73 13 1 * •* 20 32 21 32 * * Commercial, industrial, and agricultural loans» On securities Otherwise secured & unsecured Open market paper Loans to brokers and dealers Other loans for purchasing or carrying securities Real estate loans Loans to banks Other loansi On securities Otherwise secured & unsecured 222 1,484 181 654 222 1,518 186 682 212 128 38 213 129 37 * 235 190 234 192 * U. S.Gov't obligations Obligations fully guaranteed by U. S. Gov't Other securities 3,121 3,069 3,555 954 962 1,126 392 995 383 987 451 1,065 102 256 102 255 95 276 Reserve with F. R. bank Cash in vault Balances with domestic banks Other assets - net 2,718 51 73 470 2,660 56 71 475 2,590 54 79 497 610 25 156 60 618 28 149 58 599 33 189 74 5,82.2 5,785 641 64l 364 352 6,431 600 169 1,416 465 63 1,430 465 65 1,567 455 53 2,131 384 2,083 392 2,393 387 566 6 564 6 626 4 351 1,483 361 1,482 6 7 334 1,467 24S 16 15 249 22 238 1,018 129 27 * * 39 14 5 L I A B I L I T I E S Demand deposits - adjusted Time deposits U» S. Gov't deposits Inter-bank deposits« Domestic banks Foreign banks Borrowings Other liabilities Capital account ^Comparable figures not available, Form FR-284-b ASSETS AND LIABILITIES OF WEEKLY REPORTING MEMBER BANKS IN 101 LEADING CITIES ON JANUARY 19, 1938 (in millions of dollars) Total All Boston New York districts ASSETS 21,285 Loans and Investments — total 9,089 Loans - total Commercial, industrial, and agricultural loons: 568 On securities 3,870 Otherwise secured & unsecured 459 Open market paper 812 Loans to brokers and dealers in securities Other loans for purchasing or 621 carrying securities 1,162 Real estate loans 67 Loans to banks Other loans: 718 On securities 812 Otherwise secured and unsecured 8,143 U. S. Gov't obligations 1,130 Obligations fully guaranteed by U.S.Gov't 2,923 Other securities 5,647 Reserve with F. R. bank 302 Cash in vault 2,023 Balances with domestic banks 1,268 Other assets - net L I A B I L I T I E S 14,487 Demand deposits — adjusted 5,199 Time deposits 654 U. S. Gov't deposits Interbank deposits: 5,333 Domestic banks 421 Foreign banks Borrowings 807 Other liabilities 3,624 Capital account District Reserve Federal San Kansas Dallas MinneSt. RichClevePhilaAtlanta Chicago Francisco City apolis Louis mond delphia land 622 249 549 290 2,956 947 653 320 38 5 176 661 269 491 237 2,115 1,032 643 3,769 459' 234 38 258 1,600 82 193 660 31 48 161 24 20 46 233 16 22 14 97 14 4 12 148 4 6 49 528 48 4l 50 148 11 4 10 75 7 2 17 154 19 4 10 l4l 3 3 40 327 38 15 287 234 39 35 59 3 39 174 2 18 30 2 15 27 2 87 87 4 .13 47 7 9 6 12 21 1 l4 20 58 373 3 266 59 256 53 424 3,341 438 22 131 1,162 309 2,850 67 37 158 117 549 78 50 59 305 92 261 245 17 145 84 126 40 793 59 256 337 38 199 103 29 41 276 36 61 135 18 137 33 24 52 155 31 73 104 11 111 37 45 58 1,430 189 390 837 57 339 90 11 29 192 47 94 145 10 117 23 12 55 155 l4 4o 71 5 75 16 10 13 28 36 174 234 44 29 ll4 51 168 113 10 12 185 224 22 . 27 73 105 664 129 290 333 20 216 206 986 6,363 267 1,049 363 27 782 274 25 1,045 735 19 4l4 196 13 320 182 17 2,155 882 87 400 184 8 252 122 2 481 145 13 399 128 21 890 1,035 59 209 2,200 385 9 279 3 318 1 208 199 1 758 6 260 112 1 353 190 1 247 14 24 362 239 1,612 19 226 16 349 22 92 5 88 20 371 6 81 316 329 34 84 4 — — 7 89 — — 7 56 — — 3 92
@FedFRASER