The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
STATEMENT FOR THE PRESS Released for publication in Friday afternoon papers, July 22; not earlier. St.2143 Federal Reserve Board July 21, 1921. CONDITION OF MEMBER BANKS IN LEADING CITIES. Aggregate reductions by $83,000,000 of loans and discounts, and by $61,000,000 of investments,and curtailment by about $95>000,000 of borrowings from the Federal reserve banks are indicated by the Federal Reserve Board's weekly statement of condition on July 13, 1921 of 816 member banks in leading cities. All classes of loans and discounts show substantial liquidation for the week: loans secured by Government obligations - by $9,000,000; loans secured by corporate obligations - by $20,000,000, and all other loans and discounts, composed largely of commercial loans proper - by $54,000,000. Corresponding changes at member banks in New York City include reductions of $8,000,000 and $16,000,000 in loans secured by Government and corporate obligations and a relatively much smaller reduction by $7,000,000 in other, i. e., comnercial loans and discounts. Investments of the reporting banks in United States bonds, (including a practically constant amount of about $270,000,000 of Government bonds on deposit with the Treasury to secure outstanding national bank note circulation) declined by $3,000,000 for the week, while those of Victory notes fell off about $1,000,000. Investments in Treasury certificates show a reduction for the week of $28,000,000 and those in the 3-years' Treasury notes - a reduction of $14,000,000, while corporate and other securities on hand, were $15,000,000 less than the week before. At New York City banks reductions of $10,000,000 in Treasury notes, of $22,000,000 in Treasury certificates, and of $8,000,000 in corporate securities, as against nominal changes in U- S. bonds and Victory notes, are noted. Total loans and investments, in consequence of the above changes, show a reduction for the week of $144,000,000 for all reporting institutions, and on July 13 stood at $15,051,000,000, or about 10 per cent below the corresponding amount at the close of the past year. Loans and investments of member banks in New York City show a decline of $70,000,000 for the week and of over 15 per cent since December 3I of last year. . Accomodation of reporting banks at thfe Federal reserve banks shows a decrease for the week from $1,249,000,000 to $1,154,000,000, or from 8.2 to 7-7 pet1 cent bf the banks' total loans and investments. In New York City a reduction from $327,000,000 to $312,000,000 in the total borrowings from the local reserve banks and frcan 6.8 to 6-6 per cent in the ratio of these borrowings to total loans and investments is shown* During the present year borrowings from the Reserve banks decreased by $944,000,000, or by 45 per cent. During the same period borrowings of the New York City members from the local Reserve bank decreased by $454,000,000, or by about 60 per cent. Government deposits show a reduction for the week of $48,000,000, time deposits declined by $17,000,000, while demand deposits (net) increased by $$6,000,000. For member banks in New York City, reductions of $25,000,000 in Government deposits and of $6,000,000 in time deposits are shown, while demand deposits, owing to withdrawals of balances by correspondent banks in the interior, show a decrease of $19,000,000. Reserve balances of the reporting banks with the Federal reserve banks declined by $4,000,000, and cash in vault - by about the same amount. Member banks in New York City show a $1,000,000 decrease in reserves with but little change in their cash holdings. Released for publication. Friday afternoon., July 22» 1921; not earlier. PRINCIPAL RESOUBCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING CITIES <—%r> — — — — — (Amounts in thousands of dollar a) reporting banks ' St.2143a f LoaaQaiand discounts, including bills rediscounted with F. R, Bank: Loess'secured by U. S. Govt, obligations • Seairea ^ s t o c k s ^ bonds (other than U. S. securities) ^ 5 X 1 9 2 0 638,399 2,985,483 64? ,021 3,005,334 833 4yo 3 084 323 qqq 700 3 046 7q4 862,208 d65,580 870,427 876,344 170,476 171,507 201,284 194,931 80,634 94,310 154,877 183,023 222,100 472,805 2.060.2% 15,194^86 ? o4q 44r 15^397^231 16,893,150' 1,2^7,211 1,251,237 1,317,069 1,421,906 336,685 341,^4 360,060 367,*53 10,085,866 10,029,836 10,928,316 11,553,677 2,903,087 2,930,580 2,933,430 2,698,479 Governinent deposits 277,917 ' 325,468 72,455 121,561 Bills payable with Federal Reserve Bank: S w a r e d b y B . S. Govt. obligations All other 310,8iy 924 355.074 1,505 539,603 l,4l4 719,748 1,599 Bills rediscounted with Federal Reserve Bank: SojSMed by U. S. Govt, obligations All other 85,118 757,572 87,729 805,457 226,501 1,126,94s 264,329 1,004,187 : :: U. S. "on4$ U. S. Victory notes U. S* Treasury notes U. S; Certificates of indebtedness Othep bonds, stocks and securities Total loans & discounts,& invest.including bills redis'd.with F.R.Bk. Reserve balance with F. R. Bank Cash in vault . Net demand deposits Time daposits Rati*.Of bills payable and rediscornts with F. R. Banks to total loans and investments, per cent : 2,045,474 15,051,267 7,7 ' . g,2 11 6 (a) Comparable figures not available. 'If ">18 Bel eased for publication Friday afternoon, July 22, 1921; not earlier PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING- MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS JULY 13» 1921* (Amounts in thousands of dollars) jpec3_era]_ Reserve District Boston New York Phi la. Clevel. Richm. Atlanta Chicago St. Louis Minn. Kans.Cy. Dallas San s ran. Number of reporting banks 4g 112 58 88 82 43 113 37 35 80 52 67 Loans and discounts including bills rediscounted with F, L o i i s a S c . b y u.s.Govt.oblig. u. f S J r * a n d 35,a63 dlscowte 5: S: D 'iLbtetoessatSS 0f Other bonds,stocks& securities 251,736 U 69,410 60,577 1 §:sa1 25,072 3 i:ir5 4,187 135.4% 82,98" 7,976 721,932 157,711 10,202 281,348 4,260 52,944 17,590 88,586 20,226 12,817 20,919 6,724 S:$ 28,879 S %6£ i:Sg 1,097 36,038 19,526 344,408 m 1,237 67,175 309 21,627 3 l $ U „ Total 816 638,399 'P^:I! k m 7,383 2.U9 13.597 154,877 46,446 10,702 169,685 2,045,47% Total loans and discounts, and investments including bills rediscounted with F.R.Bk, 1,008,963 5.485,042 860,783 1,481,862 583,602 448,016 2,236,839 545,834 316,686 558,595 301,226 1,223,819 15,051,267 Reserve balance with F. R. Bank 74,694 591,721 63,335 92,657 31,753 27,231 175,764 37,618 18,654 38,300 21,196 74,288 1,247,211 Cash in vault 21,924 115,213 18,164 31,223 16,330 9,884 58,703 7,580 7,191 14,030 10,106 26,337 336,685 Net demand deposits 731,072 4,543,75% 625,106 798,043 306,081 213,053 1,286,045 286,941 176,654 363,970 187,319 567,824 10,085,866 Time deposits 175,265 419,032 4i,3l6 426,836 120,341 145,521 539,840 2,903,087 19,06l 152,393 30,582 23,222 6,183 6,256 - 110,573 - 28,761 32,071 27 23,781 - Bills rediscounted with F.R.Bank: Sec. by U.S. Govt, obiig. 7,394 All Other 29,302 17,889 231,171 20,787 26,956 6,709 85,450 2,799 40,298 Government deposits Bills payable with F.R.Bank: Sec. by U.S. Govt. obiig. All other 1,901 , 12,44o 4,465 32,121 654,678 142,236 69, "£86 108,492 59,744 19,701 7,568 4,454 4,626 3,917 4,009 277,917 45,430 - 14,157 - , 4,108 268 ^ 10,651 - 3,665 275 „ 18,956 354 . 310,849 924 13,990 138,109 3,302 35,632 568 30,986 3,116 32,334 538 17,828 3,561 57,385 85,118 757,572 Released, for publication Friday afternoon, July 22, 1921; not earlier. St.2l4j>c. PRINCIPAL RESOURCES AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN F. R. BANK AND BRANCH CITIES AND ALL OTHER REPORTING BANKS (Amounts in thousands of dollars) F. R. All other All F. R. Branch cities reporting bank Bank cities City of Chicago New York City July 6 July 1 July 13 July 6 July 13 July 6 July 6 July 13 July 13 July 13 214 282 214 320 282 320 70 70 52 52 Number of reporting banks Loans and discounts including bills redisc1d.with F.R.Bank: 106,282 464,481 103,201 62,041 79,346 61,674 452,771 229,498 237,283 79,339 Loans sec.by U.S.Govt.oblig. 428,236 471,455 426,553 2,105,643 474,093 321,283 318,727 2,084,837 1>085,988 1,102,220 Loans sec.by stocks and bonds 2,426,814 2,433,538 786,008 793,045 5,261,434 5,296,202 1,464,746 1,478,45b 1,387,536 1 ,393,254 All other loans and discounts 3,742,300 3,773,041 1,169,332 1 ,173,446 7,799,042 7,866,386 2,045,121 2,053,112 1,893,435 1 ,900,829 Total loans and discounts 446,754 101,450 76,024 133,544 1,127,338 1,352,617 1 ,361,099 120,042 121,036 35,233 9,637,405 909,958 194,448 9,751,496 2,907,937 2,924,503 2,505,925 2,518,987 144,240 141,651 912,420 195,602 194,577 64,720 78,504 78,876 197,818 63,733 887,153 869,527 7,057,105 7,036,093 1,575,070 l,i547,733 1,453,691 1,446,010 263,608 313,777 315,259 1,345,417 1,358,123. 908,850 915,059 648,820 647,393 148,132 173,261 11,269 13,296 225,531 263,780 30,409 35,899 21,977 25,789 90,92b 124,275 17,229 19,184 450 176,295 214,405 450 87,531 545 94,265 735 47,023 379 46,4o4 320 8,920 94,046 59,114 515,05s 61,432 540,537 17,418 113,732 17,948 131,223 8,586 128,782 8,349 133,697 7.8 8.4 7-5 8.3 7-4 7.5 4,757,616 547,292 4,827,143 101,263 101,483 4,056,149 4,074,754 Time deposits 257,362 Government deposits Cash in vault Net demand deposits Bills payable with F. R. Bank: Sec. by U. S. Govt, obligations All other - Bills rediscounted with F. R. Bank: Sec. by U. S. Govt, obligations All other Ratio of bills payable and rediscounts with F.R.Bank to total loans and investments, per cent i 208,089 41,420 9,013 28,287 584, 582 446,074 101,876 64,429 108,525 1,117,459 263,481 74,557 59,552 100,598 555,884 bonds Victory notes Treasury notes Certificates of indebtedness bonds, stocks and securities Total loans and discounts, and investments including bills rediscounted with F.R.Bank Reserve balance with F. R. Bank 20,444 13,023 1,557 9,280 138,981 21,932 12,733 1,996 11,075 135,917 264,607 74,426 49,806 78,466 548,011 U. S. U. S. U. S. U. S. Other 548,567 - 16,648 204,1+00 17,272 185,162 6.6 6.8 33 , 574 - 8,806 77,456 7-7 9.0 - 207,175 39,935 7,742 26,400 581,564 208,959 28,665 8,463 19,952 346,451 210,737 28,637 9,273 21,192 348,319
@FedFRASER