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STATEMENT FOR THE PRESS S t . 35U7 F e d e r a l Reserve Board, June 71 1923» 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 , June 3; not e a r l i e r . CONDITION OF MEMBER BANKS IN LEADING CITIES F a r t h e r r e d u c t i o n s of $52,000,000 i n l o a n s and d i s c o u n t s and of $32,0u0,000 in Government s e c u r i t y h o l d i n g s , as a g a i n s t an i n c r e a s e of $31,000,000 in o t h e r i n v e s t ment s , a r e shown i n t h e F e d e r a l Reserve 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 May 29-30 of 774 member banks i n l e a d i n g c i t i e s . May 30 was observed as a l e g a l h o l i d a y i n most of t h e S t a t e s and, a c c o r d i n g l y , f i g u r e s f o r banks in such S t a t e s a r e shown a s a t c l o s e of b u s i n e s s on Tuesday, May 29. Reduction i n " a l l o t h e r " , l a r g e l y commercial, l o a n s and d i s c o u n t s accounts f o r p r a c t i c a l l y t h e e n t i r e r e d u c t i o n i n l o a n s and d i s c o u n t s above shewn, an i n c r e a s e of $5,000,000 i n l o a n s secured by Government o b l i g a t i o n s being o f f s e t by an equal dec r e a s e i n l o a n s secured by c o r p o r a t e and o t h e r o b l i g a t i o n s . Member banks in New York C i t y show an i n c r e a s e of $4,000,000 i n l o a n s on Government s e c u r i t i e s , as a g a i n s t r e d u c t i o n s of $7,000,000 i n l o a n s on c o r p o r a t e s e c u r i t i e s and of $24,000,000 i n o t h e r l o a n s and d i s c o u n t s . Net w i t h d r a w a l s of Government d e p o s i t s from the r e p o r t i n g i n s t i t u t i o n s t o t a l e d $90,000,000, o t h e r demand d e p o s i t s ( n e t ) show a d e c l i n e of $43,000,000, while time d e p o s i t s went up $17,000,000 and f o r t h e f i r s t time a r e shown i n e x c e s s of $ 4 , 0 0 0 , 0 0 0 , 0 0 0 . Corresponding changes f o r t h e week a t the New York C i t y banks comp r i s e n e t w i t h d r a w a l s of $36,000,000 of Government d e p o s i t s and of $31,000,000 of n e t demand d e p o s i t s , as a g a i n s t an i n c r e a s e of $6,000,000 i n time d e p o s i t s . Borrowings of the r e p o r t i n g i n s t i t u t i o n s from t h e r e s e r v e banks show an i n c r e a s e f o r t h e week from $436,000,000 t o $459,000,000, o r from 2 . 6 t o 2 . 8 p e r cent 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 . For member banks in New York C i t y an i n c r e a s e from $101,000,000 t o % 106,000,000 and from 1.9 t o 2.1 p e r cent i n t h e r a t i o of t h e s e b o r ' rowings t o t o t a l loans and investments i s n o t e d . Reserve b a l a n c e s of t h e r e p o r t i n g banks d e c l i n e d about $46,000,000, t h e New York C i t y banks r e p o r t i n g a r e d u c t i o n of $29,000,000 i n t h i s i t e m . Only nominal changes a r e shown f o r cash i n v a u l t . Following i s a s t a t e m e n t of changes in t h e p r i n c i p a l a s s e t s and l i a b i l i t i e s of r e p o r t i n g member banks, as compared w i t h a week and a y e a r ago: Increase or Decrease In m i l l i o n s of d o l l a r s since May 21. 1923 May 31. 1922 Loans and d i s c o u n t s - t o t a l Secured by U. S, Govt, o b l i g a t i o n s Secured by s t o c k s and bonds . . . . . . — + — - Investments, t o t a l U. S. 0ond s . . . . . . . . . . . . . . . . . U. S, V i c t o r y n o t e s and Treasury n o t e s . . . Treasury c e r t i f i c a t e s Other s t o c k s and bonds . . . - - + + Reserve balances with F. R. Banks . . . . . . . - 52 5 5 52 + 1 + + + + 46 1 + + + + + + 90 43 17 T o t a l accommodation a t F. R. Banks + 23 C. . . . . . . - + 6 ' 27 1 31 Government d e p o s i t s . . . . . . . . . . . . . . Net demand d e p o s i t s Time d e p o s i t s . . . . . . . . . 934 50 311 673 — 543 199 462 6 124 - 21 2 + * 59 123 772 302 Released 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 , June 8, 1923; not e a r l i e r , Number of r e p o r t i n g banks ... PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING CITIES ( i n thousands of d o l l a r s ) May 29-30, 1923 May 2 J , 1923 774 774 Loans and d i s c o u n t s , g r o s s : Secured by U. S. Govt, o b l i g a t i o n s Secured by s t o c k s and bonds ( o t h e r than U. S. s e c u r i t i e s ) - - All o t h e r loans and d i s c o u n t s T o t a l l o a n s and d i s c o u n t s - - - - - - - - U. S, p r e - w a r bonds - U. S. L i b e r t y bonds U. S. T r e a s u r y bonds - - - - - - - - - - - _ _ _ _ _ _ _ _ _ _ _ _ _ _ U. S. T r e a s u r y notes:. 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 _ _ _ _ _ . T o t a l loans and d i s c o u n t s and investments Reserve balance w i t h F. R, Banks Cash in v a u l t Net demand d e p o s i t s Time d e p o s i t s - Nov, 29, 1922 734 316,816 2b2,006 3,804,359 7,825,'733 297,401 3,688 ,457 11,839,835 11,892,098 11,218,731 10,906,217 1,510,540 1,150,570 129,732 1,018,959 129,026 *657,931 95,094 -530,464 123,681 2.164.264 2.132.751 2,24q.04l 2.287.77A lb,505,06s l6,558,435 15,761,337 15,025,711 1,385,551 1,431,523 1,356,129 1,364,418 281,879 283,080 286,463 279,827 11,172,706 11,216,130 11,094,036 11,049,461 4,004,052 3,986,993 3,647,977 3,231,920 191,646 282,l4l 170,637 132,271 258,448 259,134 205,654 279,391 262,412) 1,001,685 98,410 1,005,515) 97,674) 200,683 2,8 3 48£! 765 71100|636 68 445 1/6,543 176,239 88'337 2.6 2,4 1 0 C. May 31, 1922 yqg 266,535 3,799,544 7,773,756 991,751 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. 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 payable and r e d i s c o u n t s with F, R, Banks t o t o t a l l o a n s and i n v e s t m e n t s , per cent - . ~t, j>5I+7a *lncludes Victory n o t e s . 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 , June S, 1923* n o t e a r l i e r . -;t, 3547b PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS, l.-gy 29-30, 1923. ( i n 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 . Louis Minn. Kans.Cy. D a l l a s San Fran, Total Number of r e p o r t i n g banks 46 109 55 Loans and d i s c o u n t s , g r o s s : Secured by U.S.Govt, o b l i g . 13,173 88,703 18,216 Secured by s t o c k s and bonds 240,381 1,645,204 249,002 A l l other loans and discounts607,838 2,460,154 348,056 T o t a l l o a n s and d i s c o u n t s IL S« Pre-war bonds U* S* L i b e r t y bonds 82 77 39 106 36 29 77 52 32,559 11,091 7,820 . 41,429 14,473 11,256 7,455 5,400 404,809 121,065 6 2 , 6 l 2 584,887 135,116 54,522 78,979 46,927 692,362 327.174 335,798 1,156,000 305.957 174,319 360,456 195,820 861,392 4,197,061 615,274 1,129,730 459,330 406,230 1,782,316 455,546 240,097 446,890 248,147 48,485 11,033 47,112 30,331 12,580 12,899 25,165 15,332 8,786 11,921 20,118 78,495 427,802 46,481 5,760 31,485 30,298 4,149 31,877 14,484 3,972 116,312 6,724 4,598 557,233 60,185 57,966 32,270 6,665 713.108 184.798 66 l4,g60 173,040 809,822 774 266,535 3 799 544 7'.7731756 997,822 11,839,835 35,329 279,391 1,001,685 21,792 9,024 11,817 1,225 44,912 14,545 2,119 91,861 12,711 4,912 2,239 101,307 13,641 11,288 7,175 126,509 23,257 29,271 24,019 17,113 47,437 991,751 11,405 3,002 8,337 23,628 7,854 2,973 7,856 6,567 14,976 129,732 284.576 50.742 35,633 358,607 104.611 29.219 60,335 9.036 158.663 2.164.264 T o t a l loans and d i s c o u n t s and investments 1,167,929 6,007,444 928,408 1,653,825 83,888 Reserve balance with F. R.Bk. 610,337 71,075 108,595 591,168 486,908 2,420,797 637,416 37,551 32,462 203,569 39,501 323,388 600,845 23,227 49,725 5,904 12,566 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 b o n d s , s t o c k s & s e c u r i t i e s l 7 4 F 9 3 6 Cash in v a u l t 81,340 15,909 Net demand d e p o s i t s 804,688 4,688,737 692,381 Time d e p o s i t s 255,636 914,493 98,009 16,576 67,196 13,495 B i l l s payable and r e d i s c o u n t s w i t h F, R. Bank; Secured by U.S.Govt, o b l i g . 12,187 All Other 23,192 106,230 19,818 20,524 Government d e p o s i t s C. 18,232 3^,5&3 29 , 740 13,287 9,822 926,211 327,57s 276,062 561,869 156,853 171,881 14,171 6,940 6,599 20,923 17,546 l6,184 19,391 1,481 10,981 55,505 8,352 1,516,121 358,883 205,822 431,957 98,410 317,765 1,369,175 16,505,058 24,147 101,474 1,385,551 8,837 22,385 281,879 220,570 723,696 11,172,706 73,667 586,569 4,004,052 785,341 183,678 33,661 11,022 3,512 3,566 3,077 11,831 191,646 21,376 22,744 9,170 9,484 5,595 5,630 17,598 14,681 1,239 6,245 26.612 258 448 200^683 84,249 131,807 15,717 Released 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 , June 8 , 1923; n o t e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS I N F, R. BANK AND BRANCH CITIES AND IN OTHER Si'.LECT&D C i . i l : •- (Amounts i n thousands of d o l l a r s ) All F. R, Bank c i t i e s New York City C i t y of Chicago May 29-30 May 23 May 29-30 May 23 May 29-30 May 23 259 259 65 65 48 48 Number of r e p o r t i n g banks Loans and d i s c o u n t s , g r o s s t Secured by U, S. Govt, o b l i g . Secured by s t o c k s and bonds All o t h e r l o a n s and d i s c o u n t s 80,078 76,450 1,468,210 1*475,033 2 , 1 4 4 , 5 0 1 2,168,801 Total l o a n s and d i s c o u n t s U, S. Pre-war bonds 3,692,789 3,720,284 37,884 37,834 F. R. Branch ci t i e s May 29-30 May 23 206 206 Other selected c i t i e s May 29-3O May 23 309 309 32,367 450,208 696,494 177,070 2,750,786 4,8O4,4I4 171,800 2,753,319 4,854,234 49,066 49,192 569,609 569,827 1,579.033 1,581,152 40,399 4i,oi4 479.149 481,213 1,390,309 1 , 3 9 0 , 3 4 ? 1,166,556 1,179,069 7,779,353 98,822 2,197,708 2 , 2 0 0 , 1 7 1 77,780 75,290 1,909,857 1,912,574 105,810 106,118 32,413 447,605 686,538 3,983 3,963 7,732,270 97,983 U. S, L i b e r t y bonds 365,261 366,419 34,861 35,465 588,518 589,902 245,644 247,177 167,523 168,436 U. 5. Treasury bonds 22,129 21,870 5,576 5,653 50,859 50,409 25,437 25,186 22,114 22,079 520,269 519,095 74,798 78,103 748,297 764,281 153,916 162,174 89,538 92,504 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 27,381 30,938 7,849 8,262 61,635 61,123 42,986 42,296 25,111 25,607 Other bonds, s t o c k s , and s e c u r i t i e s 5l4,o6o 511,303 179,937 175,128 1,169,861 1,138,784 570,233 569,920 424,170 424,047 U. S. Treasury n o t e s Total loans and d i s c o u n t s and investments Reserve balance w i t h F. R, 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 5,179,723 5,207,793 588,869 560,256 66,903 65,578 4,185,627 4,217,051 3,311.214 3,324,704 236,121 235,329 1,029,031 1,034,477 7 , 575,287 7,616,385 1,921,697 1 , 9 2 7 , 9 3 4 376,086 2,026,190 2,011,400 1,134,382 1,129,096 843,480 846,497 21,326 135,466 200,328 34,225 50,926 21,955 30,887 54,666 4l ,075 62,830 38,953 46,453 34,293 39,575 34,919 3.1 2.9 2.7 649,844 643,407 Government d e p o s i t s 61,15s 98,860 375,673 19,011 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 . All other 84,095 22,639 89,345 12,110 2,823 13,972 2,382 14,963 157,329 125.315 156,729 102,671 1.9 1.1 1.1 2.7 2.5 Ratio of 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 to t o t a l l o a n s and investments, per cent W. for FRASER Digitized 2.1 2,744,431 2,751,057 170,608 173,348 1,473,560 1,485,643 10,449,423 10,482,674 144,070 976.874 1 , 0 2 4 , 7 9 4 151.759 142,458 29,104 144,015 30,072 60,163 2.9 61,206 77,701 79,416 1,675,722 1,671,811
@FedFRASER