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STATEMENT FOB THE PRESS Released f o r p u b l i c a t i o n in F r i d a y a f t e r n o o n p a p e r s , J a n . 6; not earlier st.2530. Federal R e s e r v e Board J a n u a r y 5, 1922. CONDITION OF MEMBER BANKS IN LEADING CITIES* N e t l i q u i d a t i o n of a b o u t $ 6 9 , 0 0 0 , 0 0 0 of l o a n s and d i s c o u n t s and a r e d u c t i o n of $14,000,000 i n i n v e s t m e n t s , accompanied by commensurate r e d u c t i o n s i n d e p o s i t s and borrowings f r e m t h e F e d e r a l r e s e r v e banks, a r e i n d i c a t e d i n the 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 28 of 806 member banks i n l e a d i n g c i t i e s . As a g a i n s t a nominal i n c r e a s e i n l o a n s s e c u r e d by c o r p o r a t e s t o c k s and bonds, l o a n s s e c u r e d by U n i t e d S t a t e s Government o b l i g a t i o n s show a d e c l i n e f o r t h e week of $ 4 , 0 0 0 , 0 0 0 , and a l l o t h e r l o a n s and d i s c o u n t s , c o m p r i s i n g l a r g e l y commercial and i n d u s t r i a l l o a n s , - a d e c r e a s e of $ 6 6 , 0 0 0 , 0 0 0 . As compared w i t h December 31, 1920 f i g u r e s , a r e d u c t i o n of a l m o s t $400,000,0C0 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 , a s a g a i n s t a s l i g h t r e d u c t i o n 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 , i s shown. Corresponding changes f o r member banks i n New York C i t y i n c l u d e a r e d u c t i o n f o r t h e y e a r of $ 2 3 3 , 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 , a s a g a i n s t an i n c r e a s e of $ 2 1 , 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 . 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 boo,ds, c a i n l y L i b e r t y bonds, show a f u r t h e r i n c r e a s e of $ 4 , 0 0 0 , 0 0 0 f o r t h e week. |fc6 compared w i t h t h e c l o s e of l a s t y e a r , a n i n c r e a s e of a l m o s t $40,000,000 i n t h e \ g i i t e d S t a t e s bond h o l d i n g 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 s shown. Holdings of v i c t o r y n o t e s show a d e c l i n e of $ 2 , 0 0 0 , 0 0 0 f o r t h e week and of $38,000,000 f o r t h e y e a r . Holdings of T r e a s u r y n o t e s i n c r e a s e d s l i g h t l y d u r i n g t h e week, w h i l e T r e a s u r y c e r t i f i c a t e h o l d i n g s show a d e c r e a s e of $ 1 7 , 0 0 0 , 0 0 0 f o r t h e week, and of $49,000,000 f o r t h e y e a r . T o t a l U n i t e d S t a t e s s e c u r i t i e s h e l d by the r e p o r t i n g member banks a b o u t t h e c l o s e of 1921 were $ 1 , 4 7 0 , 0 0 0 , 0 0 0 , compared w i t h $ 1 , 3 9 1 , 0 0 0 , 0 0 0 a t t h e c l o s e of 1920. Member banks i n New York C i t y r e p o r t iz? r irv5PeZse|of $52,000,000 i n t h e i r h o l d i n g s of U. S. bonds, a s a g a i n s t r e d u c t i o n s of $ 8 , 0 0 0 , 0 0 0 i n V i c t o r y n o t e s and of $20,000,000 i n Treasury c e r t i f i c a t e s , b e s i d e s h o l d i n g s of $83,000,000 of T r e a s u r y n o t e s i^sfiued during t h e sunnier of t h e y e a r j u s t p a s t . T o t a l l o a n s and 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 show a r e d u c t i o n of $83,000,000 f o r t h e week and of $ 1 , 9 7 0 , 0 0 0 , 0 0 0 f o r t h e y e a r . Corresponding changes f o r t h e New york C i t y banks i n clude r e d u c t i o n s of $28,000,000 f o r the week and of $869,000,000 f o r the y e a r . During the week r e p o r t i n g member banks reduced t h e i r accommodation a t t h e F e d e r a l r e s e r v e banks frcm $ 7 4 3 , 0 0 0 , 0 0 0 to $698,000,000, or from 5 to 4 . 7 p e r c e n t of t h e i r t o t a l l o a n s and i n v e s t m e n t s . Since December 31, 1920 t h e r e has been a d e c l i n e i n t h e s e borrowings of a b o u t $ 1 , 4 0 0 , 0 0 0 , 0 0 0 , o r f r c m 12*5 t 0 ^*7 P e r c e n t .of t h e banks 1 t o t a l l o a n s and i n v e s t m e n t s . Member banks i n New York C i t y r e p o r t f o r the p a s t y e a r a d e c r e a s e i n a c c o m o d a t i o n a t t h e l o c a l r e s e r v e bank f r o m $766,000,000 to $ 1 3 1 , 0 0 0 , 0 0 0 , o r from 13*6 t o 2 . 8 p e r c e n t of t h e b a n k s ' a g g r e g a t e l o a n s and i n v e s t m e n t s . Government b a l a n c e s w i t h t h e r e p o r t i n g member banks a r e shown $35,000,000 l e s s than the week b e f o r e . Net demand d e p o s i t s d e c l i n e d by $ 7 4 , 0 0 0 , 0 0 0 , w h i l e time d e p o s i t s show a g a i n of $ 3 1 , 0 0 0 , 0 0 0 . Corresponding changes f o r t h e y e a r i n c l u d e a s l i g h t d e c r e a s e i n Government d e p o s i t s , a r e d u c t i o n of $768,000,000 i n Other demand d e p o s i t s ( n e t ) and a g a i n of $146,000,000 i n time d e p o s i t s . F o r t h e member banks i n New York C i t y , r e d u c t i o n s f o r t h e y e a r of $ 3 4 . 0 0 , 0 0 0 i n Government d e p o s i t s and of $288,000,000 i n o t h e r demand d e p o s i t s , a s a g a i n s t a s l i g h t i n c r e a s e i n time d e posits, are noted. Reserve 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 the F e d e r a l r e s e r v e banks, i n keeping w i t h t h e r e d u c t i o n i n demand d e p o s i t s and borrowings from t h e r e s e r v e banks, show a d e c r e a s e of $ 4 1 , 0 0 0 , 0 0 0 f o r t h e week, and of $ $ 1 , 0 0 0 , 0 0 0 f o r t h e y e a r . Cash i n v a u l t d e c l i n e d a b o u t $ 1 , 0 0 0 , 0 0 0 f o r t h e week and $15,000,000 f o r t h e y e a r . Corresponding changes f o r t h e member banks i n New York C i t y comprise r e d u c t i o n s s i n c e t h e c l o s e of 1920 of $ 2 3 , 0 0 0 , 0 0 0 i n r e s e r v e b a l a n c e s and of $ 4 , 0 0 0 , 0 0 0 i n c a s h on hand. 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 , J a n . b , 1922; n o t e a r l i e r . PRINCIPAL RESOURCE MID LIABILITY ITEMS OF PEP0P.T3 "C- I-EMBER BANKS III LEAD UTS CPI'IES dollars) >cc. 2 8 , 1921 June 29, 1521 Dec. 21, 1921 Number of r e p o r t i n g banks _'____ 80b 808 817 Loans and d i s c o u n t s , i n c l u d i n 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 by U. S, Govt, o b l i g a t i o n s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 672,296 512,520 516,350 S e c u r e d by s t o c k s a n d bonds ( o t h e r t h a n U. S. s e c u r i t i e s ) - - - 3,002,994 3,165,481 3,165,109 A l l o t h e r l o a n s and d i s c o u n t s 8,208,427 7.607.887 7,542.233 T o t a l l o a n s and d i s c o u n t s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 11,883,717 11,220,234 11,289,346 U. S. b o n d s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ St.2530a. Dec. 31, 1920 821 908,908 3,175,90b (a) (a) _ _ _ _ _ _ _ _ _ _ 950,270 946,303 865,254 910,690 U, S. V i c t o r y n o t e s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 170,639 172,b7S 171,501 209,079 U. S. T r e a s u r y n o t e s 125,559 125,091 115,341 - 240,009 221,025 2.089.107 2.074.305 271,599 (a) _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 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 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Other bonds, stocks and s e c u r i t i e s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 222,855 2.090,025 Total loans & discounts & 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.R e s e r v e b a l a n c e w i t h F. R, Bank _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 14,779,582 14,862,534 15,331,143 16,750,488 I,2b7,l07 1,307,715 1,241,465 1,357,669 339,799 10,174,437 341,294 327,468 10,248,233 10,046,398 354,535 10,941,847 2,992,213 2,966,91s 2,933,118 2,852,257 257,073 291,502 387,378 262,264 253,656 2,302 278,972 2,117 319,001 5,618 629,410 6,051 34,32b 402,937 33,374 428,358 93,920 796 , 797 248,850 1,213,742 4.7 5-0 7.9 Cash i n v a u l t _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 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 with S e c u r e d by U. S. All other Bills rediscounted S e c u r e d by U. S. All other F e d e r a l Reserve Bank: Govt, o b l i g a t i o n s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ w i t h F e d e r a l Reserve Bank: Govt. o b l i s a t i o n s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 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 w i t h F. R. 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 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ (a) Comparable f i g u r e s n o t a v a i l a b l e 1 12.5 R e l e a s e d f o r pub 3. i c a t i o n F r i d a y a f t e r n o o n , J a n . 6 1922' n o t P a r i a n OI-,nv JCIPAL RESOURCE AND LIABILITY ITamS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS DEC, 28, 1921. Federal Reserve D i s t r i c t Number of r e p o r t i n g banks Loans a n d d i s c o u n t s , i n c l u d i n g "bills rediscounted with F. R, Bank: Secured "by U.S.Govt, o b l i g . Secured by stocks and bonds A l l other loans & discounts Total 1 ^ and T o t a l loans and d i s c o u n t s kQ no tI * ^ 30,4x3 100 0^7 n c n o 208,705 1 408*286 lqq'shx 570.223 2 4 b 2 7 k 7 8 0 9 , 3 6 ! 4 , 0 7 0 , 2 6 b 577,679 U. S. b o n d s U. S . V i c t o r y n o t e s in Cleve. ^ %%'nhC 999,641 114,031 44,993 2,743 363,991 88,474 47,623 12,228 U. S. T r e a s u r y n o t e s 4,446 U. S, C e r t i f i c a t e s of indebtedness 9,891 Other b o n d s , s t o c k s & s e c u r i t i e s 140,135 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 87,788 5,034 15,283 2,601 122,531 1 0 , 7 4 1 710,2^7 1 ^ 4 1 , 7 14,322 ? EeseZZZte'LlirF^' Rich. thQusands^of dollars_) A t l a n t a Chicago S t . Louis ^3 112 37 Minn. Kans.Cy, D a l l a s 35 30 51 lb,47 66 2 ° ' 7 ° 13,379 11,712 lb,513 6,272 51,291 451,127 124,982 31,92b' 66,5)2 38,102 S m a U W l . 0 « ) . W T T O , T W 2 H 5 . 2 7 n n . M 6 2W.897 450,575 378,920 1,597,690 446,650 2 59i9l6 454,531 2 4 5 , 2 7 1 61,219 29,483 78,894 26,945 I4,7b0 33,ooo 34,100 2,374 1,121 1,187 4,070 25,583 405 1,973 4,473 8,257 824 722 470 1,449 4,505 266.642 J ^ 8 b l 1,998 33.571 25,554 380.098 2 , U 6 fe'lsO '° 7 6 3,960 69,550 4,708 4,011 3,290 21,479 49,115 9.444 Se^ea^u.s.Govt.o.Ug, B i l l s r e d i s c o u n t e d w i t h F.R.Barik: Secured by TJ, S, Govt, o b l i g , An other 99,69126,290 8,358 U5.603 ' " »:** &5 4,109 2,058 27,333 — Total SOb 24,507 512,520 147,230 3 ^ 5 , 4 8 1 7^7,^7 7,%2,2M 929,734 11,220,234 950,270 101,231 170,639 15,198 9,495 125,559 17,344 177.42b 222,855 2.090.025 5"9,5U8 302,717 5 ^ 5 . 5 5 1 29U.01U 1 , 2 5 0 , 4 2 8 1 4 , 7 7 9 , 5 8 : 73,42b 1,267,107 sb ili §1111111 B i l l s p a y a t l e w i t h F.E.Barik: San F r a n . . 2b,23b 339,799 601,878 10,174,437 2,998,213 257,073 27,336 7,780 b,91U 32,124 6,653 7,264 5,790 5.650 564,718 12,342 19.775 27 22,943 7b9 8,889 - 24,642 180 10,249 - 331 182 6,348 - 3,185 '736 11,000 408 258,656 2,302 e,4> 2,074 20,747 34,32b 402,937 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 , J a n . b , 1^22; n o t e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING I/I3.BER BMKS IN F . R. AMD BRANCH CITIES AND IN OTHER SELECTED CITIES. (Amoralts 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 l e cted cities c i t i e s Branch Bank c i t i e s C i t y of Chicago Mew York C i t y Dec. 28 Dec. 2 l Dec. 2 1 Dec. 28 Dec. 28 Dec. 2 1 Dec. 2 1 Dec. 23 Dec. 28 Dec. 28 212 319 212 317 68 68 Number of r e p o r t i n g b a n k s 277 51 277 51 Loans a n d d i s c o u n t s , i n c l u d i n g "bills r s d i s ' d . w i t h F.R.Bank: 36,128 67,266 67,173 360,161 35,093 S e c u r e d "by U.S. Govt, o"blig. 3b3,049 50,242 I79,b2b 178,75b 51,632 420,138 418,770 466,072 467,972 S e c u r e d "by s t o c k s and "bonds 324,300 2,280,639 2,276,999 1,244,203 1,253,67b 331,546 A l l other loans and discounts 680,291 2,173,301 2.197,832 697,267 4.736.318 4.847.059 1.429.993 1.430.565 1.325.917 1,330,263 T o t a l loans and d i s c o u n t s U. 5. "bonds 3,597,130 3,630,264 315,321 312,b52 U. S, V i c t o r y n o t e s 80,352 U. S. T r e a s u r y n o t e s 33,146 79,506 82,511 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 116,234 O t h e r "bonds, s t o c k s a n d s e c u r i t i e s 553.742 T o t a l loans 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 R e s e r v e b a l a n c e w i t h F . E. Bank Cash i n v a u l t Net demand d e p o s i t s Time d e p o s i t s G-overrmcnt d e p o s i t s B i l l s p a y a b l e w i t h F . R. Baric: 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, 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 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 w i t h F . E. Bank t o t o t a l l o a n s a n d investments, per cent - 1,724 37,725 2. 8 220,957 33,905 16,808 19,537 95,052 39,421 16,086 220,489 20,104 14,409 13,231 179,935 31,452 34,161 22,630 25,863 173.125 1.156,442 1,156,282 580,733 580.782 352.850 352,041 1,287,414 1,303,704 2,373,317 2,873,73b 188,804 184,635 1,549,617 1,554,923 918,086 921,464 502,399 113,669 3,3H 3,26b 95,064 116,004 16,720 19,713 168,773 553,222 171,943 109,915 - 1,870 45,775 3.3 1,811,953 1,817,574 223,415 504,851 111,631 602,797 102,481 1,981,163 1,984,665 224,462 22,393 12,008 4,216,994 4,248,744 284,068 301,517 10b,16s 93,423 91,830 7,427,118 7,487,107 22,334 11,027 4,746,425 4,774,159 582,432 97,208 1,062,079 1,073,199 121,635 127,17b 35,337 863,050 34,b7b 9,463,879 9,534,494 980,091 939,238 193,12b 196,132 376,759 7,208,658 7,272,71b 313,413 25,000 311,333 29,605 1,404,860 1,381,146 222,536 195,073 2,505 180 2,515 ISO 143,736 180 3,071 44,082 2,339 47,882 3-9 4.1 64,572 62,777 2,442,386 2,449,304 138,820 143,234 80,391 79,095 1,416,162 1,420,594 667,686 25,117 39,334 43,849 671,^9 22,661 168,105 ISO 67,351 895 . 68,834 945 42,519 1,227 42,033 992 22,422 219,396 21,658 238,737 6,948 39,H3 7,899 88,635 4,956 93,922 3,317 100,986 4.1 4.5 5-7 5.8 6.0 5.8
@FedFRASER