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STATEMENT FOR THE PRESS Released, for publication in s.t, 2163Federal Reserve Board. Friday afternoon papers, July 29; not earlier. July 28, 1921, CONDITION OF MEMBER BANKS IN LEADING CITIES. Withdrawals of Government deposits aggregating $153>000,000 and reductions of $57,000,000 in other demand deposits, accompanied by a decline of about $100,000,000 in loans and investments, are indicated in the Federal Reserve Board's consolidated weekly statement of condition on July 20 of 8lU member banks in leading cities. Loans secured by Government obligations show a reduction for the week of $4,000,000, loans supported by corporate and other securities increased by $11,000,000, while other loans, largely of a commercial and industrial character, declined by $67,000,000. Corresponding changes at member banks in New York City include a reduction of $4,000,000 in loans secured by Government obligations, an increase of $16,000,000 in loans supported by other securities, and a decrease of $36,000,000 in commercial loans. Investments of the reporting banks in United States bonds and Victory notes show a nominal increase. Investments in Treasury notes declined by $11,000,000, holdings of Treasury certificates fell off about $32,000,000, indicating the active investment demand for these short-term securities, while corporate and other securities on hand show an increase of $2,000,000 for the week. For the member banks in New York City reductions of $3,000,000 in the holdings of U. S. bonds and Victory notes,of $3,000,000 in Treasury notes and of $20,000,000 in Treasury certificates, as against an increase of $3,000,000 in other securities, are noted. In consequence of the above changes, total loans and investments of the reporting institutions declined below 15 billions, the July 20 total of $14,951>000,COO being the lowest since July 25, 1919, a n d 13-5 per cent below the peak shown on October 15 of last year. Accommodation of reporting banks at the Federal reserve banks • shows a decrease for the week from $1,154,000,000 to $1,150,000,000, the ratio of accommodation to total loans and investments remaining unchanged at 7-7 per cent. In New York City an increase from $312,000,000 to $313:000,000 in the total borrowings from the local reserve bank, with no change in the ratio of accorar-odation, is shown. As against the above mentioned considerable decreases in Government and other demand deposits, the member banks report an increase of $2,000,000 in time deposits. For the banks in New York City reductions of $81,000,000 in Government deposits, - of $3,000,000 in other demand deposits and of $2,000,000 in time deposits are shown. The nnch smaller decline in demand deposits at the New York City . banks is due' apparently in part to transfers of funds from country correspondents. Reserve balances of the reporting banks with the Federal reserve banks declined about $20,000,000, and cash in vault - $17,000,000. For New York City members corresponding declines of $10,000,000 and $9,000,000 are noted. Released for publication Friday afternoon, July 29, 1921; not earlier. PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING CITIES (Amounts in thousands of dollars) July 20, 1921 July 13, 1921 Number of reporting banks - - - - - - - - - - - - - - - - - - - - - - 8l4 8l6 Loans and discounts, including bills re discounted with P. R. Bank: Loans secured by U. S, Govt, obligations Loans sedured by stocks and bonds (other than U. S. securities) All other loans and discounts Total loans and discounts - - - - - - - - - - - - - - - - - - - - - U. s. bonds U, S. Victory notes - - U. S. Treasury motes U, S. Certificates of indebtedness _ _ _ _ _ _ _ _ _ _ _ _ _ - - - St. 2163a Jan. 21, 1921 8a9 . 826,698 3,096,952 July 23,1920 8l4 634,830 2,996,416 _&046^44 11,677,590 638,399 2,985,483 8,113,216 11,737,598 981,184 3,059,798 13,003,14? 865,720 862,208 871,636 873,818 1^7,506 170,476 204,476 194,266 69,711 122,650 80,o34 154,877 277,091 462,099 —2^039,588 16,395,93% (a) 16,878,921 (a) Other bonds, stocks and securities - - - - - - - - - - - - - - - - - - Total loans & discounts,& invest.including bills redis'd.with F.R.B&. - 2,047.,6l7 14,950,794 2^045, 4?4 15,051,267 Reserve balance with F. R. Bank - - - - - - - - - - - - - - - - - - - - - 1,227,247 1,247,211 1,333,926 1,388,021 319,302 336,685 345,293 360,887 10,029,198 10,085,866 10,754,180 11,426,887 2,905,378 2,903,087 2,918,182 2,715,438 Government deposits 124,469 277,917 210,319 142,276 Bills payable with Federal Reserve Bank: Secured by U. S. Govt, obligations • All other 309,216 506 310,849 924 578,494 1,375 713,402 4,163 85,866 7^4,446 85,118 757,572 221,173 1,132,669 258,533 977,332 Cash in vault - Met demand deposits Time deposits Bills rediscounted with Federal Reserve Bank: Secured by U. S. Govt, obligations - - - - - - A H other - - - -- -- -- -- Ratio of bills payable and rediscounts witn F. R. Banks to total loans and investments, per cent - - - - - - - - - - - - - - 7«7 7-7 11.8 (a) Comparable figures not available. 11,6 zttiieased for publication Friday afternoon, July 29, 1921; not earlier St.2163b. PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS JULY 20, 1921, ——— —— — (Amounts in thousands of dollars) Federal Reserve District Boston New York Phila. Clevel. Ricfam. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total Numter of reporting banks 1+9 112 52 88 82 43 112 37 3S 79 R2 • 67 814 Loans and discounts including bills rediscounted with F. R„ Bank: Loans sec.by U.S.Govt.oblig. 36,001 248,152 70,3^7 61,376 24,707 19,255 87,903 20,004 13,051 20,351 6;693 26,990 634,830 821,989 4,204,066 625,861 1,069,026 464,504 374,54s 1,755,263 449,788 276,262 465,966 252,735 917,582 11,677,590 Total loans and discounts U. s. bonds 34,910 309,351 46,521 103,932 60,133 29,830 72,152 25,939 15,661 32,301 32,399 102,591 265,720 U. s. Victory notes 5,939 80,286 6,200 14,824 4,909 2,516 816 2,270 29,392 16,082 1,227 3,045 167,506 U. S. Treasury notes 2,123 44,831 10,047 2,042 767 4,682 273 222 676 327 1,576 2,025 69,711 U. S, Certificates of indebtedness 3,392 63,078 5,075 7,850 804 2,521 182 6,800 17,905 549 1,985 12,503 122,650 Other bonds,stocks & securities 137,436 725,204 157,946 280,670 53,387 37,167 542,954 66,774 21,590 45,901 10,922 167,666 2,047,617 Total loans and discounts, and investments including bills rediscounted with F.R.Bk. 1,005,789 5,426,816 851,650 ,478,344 586,221 445,138 2 ,222,348 5^5,707 314,799 55^,629 300,244 1,218,449 14,950,794 Reserve balance with F. R. Bank 71,140 579,354 6l,000 90,210 30,925 26,955 177,935 37,832 18,760 38,923 20,373 73,84o 1,227,247 Cash in vault 21,230 105,256 17,430 30,509 15,184 56,64g 9,792 6,545 12,751 7,313 9,574 27,070 319,302 Net demand deposits 733,302 4,520,701 622,332 804,260 296,916 206,235 1,272,488 225,301 176,178 3 65,226 185,050 560,549 10,029,198 Time deposits 175,976 418,554 4l,439 425,010 121,485 144,753 653,690 142,427 69,211 107,799 60,583 5*6,791 2,905,378 Government deposits 8,562 68,560 13,820 10,881 841 2,672 2,082 7,689 2,003 2,001 3,417 1,821 124,469 Bills payable with F.R.Barik: Sec. by U.S. Govt, oblig. 6-.S04 108,973 29,944 24,852 25,029 12,883 43,897 15,322 4,233 10,213 4,290 22,776 309,216 All other 27 25 325 129 506 Bills rediscounted with F.R.Barik: Sec. by U.S. Govt, oblig. 5,819 19,029 22,421 7,624 2,778 5,687 13,566 3,294 203 412 2,493 1,940 85,866 All other 24,476 232,080 27,711 92,192 44,954 31,076 133,231 36,025 32,456 31,799 18,207 50,239 754,446 •» — — - Rcleasvu. for publication Friday afternoon, July 29, 1921; not earlier, St,21t5c. PRINCIPAL RESOURCE'" AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN F. R. BANK AND BRANCH CITIES AND ALL OTHER REPORTING BANKS (Amounts in thousands of dollars) All other F. R. All F. R. New York City Branch. cities reporting banks City of Chicago Bank cities July 20 July 13 July 13 July 20 July 20 July 13 July 13 July 20 July 13 July 20 Number of reporting banks 70 214 70 214 281 282 320 319 51 52 Loans and discounts including tills redisc1d.with F.R.Bank: Loans sec.by U.S.Govt.oblig. 106,282 225,750 229,498 62,041 104,962 61,931 80,729 445,135 452,771 79,346 Loans sec.by stocks and bonds 1,101,531 1,085,988 421,960 316,485 474,093 321,283 2,105,687 2,084,837 468,769 426,553 All other loans and discounts 2,390,395 2,426,814 786,738 786,008 5,208,140 5,261,434 l ,463,758 1,464,746 1,374,446 1 ,387,536 Total loans and discounts 3,717,676 3,742,300 1,165,154 1 ,169,332 7,762,966 7,799,042 2 ,037,489 2,045,121 1,877,135 1 ,893 , 435 U. S, bonds 264,470 264,607 20,444 446,074 20,339 211,430 209,120 445,170 207,175 208,959 U. S. Victory notes 74,426 72,015 100,126 12,533 101,876 13,023 28,253 39,127 28,665 39,935 U. S. Treasury notes 49,806 Ui.393 1,486 6,200 64,429 7,742 1,557 55,906 7,605 8,463 TJ. S. Certificates of indebtedness 78,466 58,949 9,280 7,658 83,128 26,400 108,525 22,555 16,967 19,952 Other bonds, stocks and securities 548,011 551,457 136,390 138,981 1,118,278 1,117,459 583,504 581,564 3*45,835 346,451 Total loans and discounts, and investments including bills rediscounted with F.R.Barik 4,705,960 4,757,616 1,343,560 1 ,352,617 9,565,574 9,637,405 2,900,305 2,507,537 2,484,915 2,505,925 Reserve balance with F. R. Bank 5^7,292 537,517 123,499 121,036 897,882 195,602 909,958 140,130 189,235 141,651 Cash in vault 92,018 101,263 32,209 194,448 179,713 64,109 33,574 63,733 75,480 78 , 504 Net demand deposits 4,047,793 4,056,149 875,768 887,153 7,030,718 7,057,105 1,,565,391 l ,575,070 1 ,433,089 1,453,691 Time deposits 3l4,o4o 255,052 257,362 313,777 1,340,822 1,345,417 914,060 508,850 650,496 648,820 Government deposits 66,647 148,132 4,314 11,269 101,178 22 5,531 13,462 30,409 9,829 21,977 Bills payable with F. R. Bank: Sec. by U- S. Govt, obligations 90,926 16,647 89,773 17,229 176,95^ 176,295 86,505 87 , 531 45,757 47,023 All other 320 186 545 379 Bills rediscounted with F. R. Bank: Sec. by U. S. Govt, obligations 16,648 8,8 06 17,557 9,352 59,714 59,114 16,122 17,418 10,030 8,586 All other 204,400 205,340 79,264 77,456 515,042 515,058 116,657 113,732 122,747 128,782 .Ratio of bills payable and rediscounts with F.R.Bank to total loans and in6.6 vestments, per cent 6.6 7-8 7.7 J.S 7.9 7-6 7-5 7.2 7-4 - - ~ - - -
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