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„ . STATEMENT FOR THE PRESS Released f o r p u b l i c a t i o n Monday morning March 15i n o t e a r l i e r * S t . 999 F e d e r a l Reserve Board, March 13, 1S20. CONDITION OF MEMBER BANKS IN LEADING CITIES S u b s t a n t i a l a d d i t i o n s to l o a n and i n v e s t m e n t a c c o u n t n o t w i t h s t a n d i n g f u r t h e r re d u c t i o n i n t h e h o l d i n g s of United S t a t e s war s e c u r i t i e s , accompanied by commensurate i n c r e a s e s i n demand and time d e p o s i t s a r e i n d i c a t e d i n the F e d e r a l Reserve B o a r d ' s weekly s t a t e m e n t of c o n d i t i o n on March 5 of S07 member banks i n l e a d i n g c i t i e s » 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 l i n e f o r the week of $1*6 m i l l i o n s , of which 25»2 m i l l i o n s r e p r e s e n t s the r e d u c t i o n i n the h o l d i r g s of the New York City member b a n k s . 1 million. V i c t o r y n o t e s f e l l off about 3 m i l l i o n s and United S t a t e s bonds about War p a p e r on hand, e x c l u s i v e of r e d i s c o u n t s , shows an i n c r e a s e of 12.7 m i l l i o n s f o r a l l r e p o r t i n g banks, and of 8 . 1 m i l l i o n s f o r the banks i n New York C i t y . Loans s e c u r e d by s t o c k s and bonds d e c l i n e d l U . 2 m i l l i o n s a t a l l r e p o r t i n g banks, and s l i g h t l y more a t the New York City banks. On the o t h e r hand, a l l o t h e r loans and i n - v e s t m e n t s , i n c l u d i n g o r d i n a r y commercial l o a n s , but e x c l u s i v e of r e d i s c o u n t s , went up I I 9 . I m i l l i o n s , of which 3 1 , 2 m i l l i o n s r e p r e s e n t s t h e i n c r e a s e f o r t h e New York City b a n k s . As t h e r e s u l t of the above changes, 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 banks ( e x c l u s i v e of r e d i s c o u n t s ) 82 m i l l i o n s , w h i l e l o a n s and i n v e s t m e n t s show an i n c r e a s e f o r the week of about ( e x c l u s i v e of r e d i s c o u n t s ) of the New York C i t y banks show a d e c l i n e of 5.6 m i l l i o n s . Rediscounted c u s t o m e r s ' p a p e r h e l d f o r r e p o r t i n g banks by F e d e r a l Reserve banks i n c r e a s e d by 6 . 3 m i l l i o n s only, so t h a t t h e above d e t a i l e d f i g u r e s give a f a i r l y a c c u r a t e p i c t u r e of a g g r e g a t e l o a n o p e r a t i o n s of the r e p o r t i n g banks d u r i n g the week under review» These d e t a i l e d f i g u r e s a r e i n c l u s i v e of b i l l s payable d i s c o u n t e d w i t h F e d e r a l Reserve banks, which show a d e c l i n e f o r the week of about 65 m i l l i o n s f o r a l l r e p o r t i n g banks, and of 35*3 m i l l i o n s f o r the banks i n New York C i t y . War paper h e l d under d i s c o u n t f o r a l l r e p o r t i n g banks shows a r e d u c t i o n f r o m 1 , 3 4 1 . 4 to 1 , 2 8 4 . 2 m i l l i o n s , w h i l e o t h e r paper h e l d under r e d i s c o u n t by F e d e r a l Reserve banks f o r a l l r e p o r t i n g banks d e c l i n e d b u t s l i g h t l y f r o m 8 0 1 . 4 t o 799*9 m i l l i o n s . Government d e p o s i t s a r e given as 39*1 m i l l i o n s , a r e d u c t i o n of about 3 m i l l i o n s f o r the week and marking a new low l e v e l f o r t h i s i t e m . F o r t h e New York banks the t o t a l of 1 8 . 9 m i l l i o n s shows no change s i n c e t h e weak b e f o r e . Time d e p o s i t s sho.v a f u r t h e r g a i n of 32•7 m i l l i o n s , l a r g e l y o u t s i d e F e d e r a l Reserve bank c i t i e s . Reserve b a l a n c e s ( w i t h the F e d e r a l Reserve banks) of a l l r e p o r t i n g banks f e l l of 5*3 m i l l i o n s . For the New York City banks a r e d u c t i o n of t h i s item by 2 2 . 6 m i l l i o n s i s shown, while the Chicago banks r e p o r t an i n c r e a s e under t h i s head of 1$,2 m i l l i o n s . i n v a u l t shows an i n c r e a s e of 3*5 m i l l i o n s . Cash Released, f o r p u b l i c a t i o n Monday morning, March 15, 1920; n o t e a r l i e r , PRINCIPAL RESOURCE AED LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING CITIES. (Amounts i n thousands of d o l l a r s ) Mar. 5, 1920 Feb.27, 1920 S t . 999 a Sept.5,1919 Mar- 7, 1919 Number of r e p o r t i n g banks - - - - - - - - - - - - - - - - - - - - - - - - - - - 80J SOJ 77^ 771 U- S . bonds to s e c u r e c i r c u l a t i o n - - - - - - - - - - - - - - - - - - - - - - - 268,798 268,969 269*393 264,375 Other U. S. bonds i n c l u d i n g L i b e r t y bonds - - - 59 6,059 596,911 6)6,804 675*632 U. S. Victory n o t e s 205,495 208,450 316,489 TJ. 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 6 4 l , 210 672 ,£31 1,334,416 1.99^ > 2 56 1,711,562 1,747»lbl 2,557,102 2,93^*^3 and o t h e r banks: - - - - - - 889,325 - - - - - - 3,171>057 - - - - - - - 10,04l,435 876,634 3,125,281 9,922,293 1,294,285 2,955>7^9 ) 8,426,026 ) 1,403,512 1,408,792 1,342,058 1,262,249 Cash i n v a u l t - - - 373,875 370,431 365.330 3^6,035 Net demand d e p o s i t s _ _ _ _ _ _ 11,546,861 11,457»465 10,901,999 10,035,620 2,557,1^3 2,524,393 1>921,5^9 1,646,620 39»073 42,097 686,443 5^6,190 956,772 2,940 1,022,520 ) 2,225 ) 1,147,401 ' ' 1,188,026 ' 327,3,69 797,048 318,93° ) 799,122 ) 297,805 y '' 3 292,831 T o t a l TJ. S. s e c u r i t i e s - - - - - - - - - Loans and i n v e s t m e n t s , e x c l u s i v e of b i l l s Loans secured by U. S . war o b l i g a t i o n s Loans secured by s t o c k s and bonds o t h e r A l l o t h e r l o a n s and investments - - - Reserve b a l a n c e s w i t h F» R. bank Time d e p o s i t s - - - - Government d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - r e d i s c o u n t e d w i t h F . R. - - - — - - - - - - than U. S . s e c u r i t i e s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - B i l l s payable w i t h F e d e r a l Reserve bank: Secured by TJ. S. war 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 e d e r a l Reserve bank: Secured by U. S. war o b l i g a t i o n s All other - - - R a t i o of U. S . war s e c u r i t i e s and war paper t o t o t a l loans and i n v e s t m e n t s , per cent — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — l4»7 1,133,193 ^ 10,067,975 15*0 ^PRINCIPAL°P£SOIffiCE a AM n LIlBILIl^ITEtS' O^ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS MARCH 5, 1920: i (Amounts i n thousands of d o l l a r s ) ; — — Federal Reserve D i s t r i c t Boston Hew York P h i l a . C l e v e l . Richm. A t l a n t a Chicago S t . L o u i s Minn. Kans-Cy. D a l l a s San F r a n . Total i No- r e p o r t i n g "banks 46 11^ 56 92 82 >7 107 35 44 S3 35 66 807 I 9.S.bonds to secure c i r c u l a t i o n 13,011 48, 202 11,097 41, 842 2b,55l 14,015 20,928 17,177 7,170 14,627 19,573 34,605 268,798 Other U . S . , i n c l . L i b e r t y bonds 14,635 237 , 240 26,955 61,803 34,474 28,832 63,925 l4,126 10,506 22,197 18,23 2 63,134 596,059 7,492 81,504 10,917 23,196 9,084 6,695 38,807 3,655 1,907 5,146 3,937 13,155 205,495 27 27.f 539 539 257.244 45.698 50.705 20.427 25.079 113.283 18.372 11.469 11.273 23.163 36.958 641,210 62,677 624,190 94,667 177,546 90,536 74,621 236,9^3 53,330 31,052 53,243 64,905 147,852 1,711,562 r k U.S. Victory n o t e s 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 Total U.S. s e c u r i t i e s i Loans and investments e x c l u s i v e • , of b i l l s r e d i s c o m t c d w i t h F.R. and o t h e r banks: r Loans sec .by U-S-war o b l i g . , Loans s e c . b y s t o c k s & bonds A l l other loans & i n v e s t m e n t s | 102,447 28,918 431,817 72,724 81,574 33,157 22,804 34,943 481,534 159,568 60,340 108, 210 204, 817 33 5, 575 196,986 1,337,356 1,537,125 340,201 848,048 364,317 351,559 682,163 3,543,903 545,861 889,325 6,745 31,192 16,555 20,446 142,148 3,171,057 29,157 80,222 34,484 267,278 484,894 233,485 842,601 10,041,435 Reserve balance w i t h F.R. bank 81,024 649,995 65,360 92,228 37,418 35,071 211,077 43,262 28,541 55,587 28,197 75,432 1,403,512 Cash i n v a u l t 24,976 126,635 17,759 32,689 18,Obi 13,101 68,520 10,408 7,585 15,655 10,471 27,715 Net demand d e p o s i t s 792,310 5,100,183 664,44o 559,096 364,418 294,506 1,511,535 365,371 25,731 356,029 100,314 141,328 1,036 152 808 1,234 2,979 39,075 l44,019 34,564 368 12,674 127 23,074 2,070 24,866 36,407 85 956,772 2,940 13,07 s 149,322 9,591 35,143 3,341 31,366 3,675 51,195 120 11,052 2,024 52,353 327,369 797,048 2,101 19,337 1,568 3,285 496 936 5,146 30,006 409,913 77,759 75,109 44,347 290 4o,984 B i l l s r e d i s c o u n t s d w i t h F.R.bank: 43,776 Sec.by U.S.war o b l i g a t i o n s 67,190 A l l other f. 152,353 267,239 77,134 36,827 9,317 43,648 8,829 21,375 3,528 30,335 44,010 477 , 533 2, 557,143 95,158 395,776 ^.Government d e p o s i t s '* " B i l l s payable w i t h F-R« bank: Sec- by U.S.war o b l i g a t i o n s All other 258,577 481,019 253,069 602,037 11,546,561 62,479 601,834 119,951 136,700 " Time d e p o s i t s 373,575 Released f o r p u b l i c a t i o n Monday morning, March 1% 1920; not e a r l i e r . S t . 999c PRINCIPAL RESOURCE AND LIABILITY ITEMS OF MEMBER BANKS IN F . R. BANK AND BRANCH CITIES AND ALL OTHER REPORTING BANKS. (Amounts i n thousands of d o l l a r s ) All other F . R. All F.R. New York City City of Chicago r e p o r t i n g banks Branch c i t i e s bank c i t i e s Mar. 5 - Feb.27 Mar* 5 ~ Feb»27 Mar, 5 - Feb.27 Mar. 5 -Feb.27 Mar. 5 - Feb.27 Number of r e p o r t i n g "banks U, S. bonds to s e c u r e c i r c u l a t i o n Other U. S. bonds i n c l u d i n g L i b e r t y bonds U. S. Victory n o t e s U. S. C e r t i f i c a t e s of indebtedness Total U. 5 . s e c u r i t i e s Loans and i n v e s t m e n t s e x c l u s i v e of b i l l s r e d i s c o u n t e d w i t h F,R,and o t h e r banks: Loans secured by U,S.war o b l i g a t i o n s Loans secured by stocks and bonds A l l o t h e r l o a n s and investments 72 72 50 195 335 335 1,439 100,236 101,006 70,204 70,304 97,158 97,159 203,923 206,311 23,743 23,322 326,263 329,905 146,542 145,293 122,64s 121,713 70,102 70,323 14,535 14,466 107,249 109,146 54,193 54,223 44,053 45,021 239.356 265,140 45,499 40,134 413,179 443,534 152.222 150.913 75.209 78.324 552,392 550,949 90,221 34,427 943,127 933,591 424,367 421,233 339,068 342,337 402,U19 394,266 1,176,350 1,192,689 3,110,934 3,079,763 70,573 364,390 297,002 122,702 99,166 124,135 654,766 99,855 68,626 665,335 419,51s 419,770 430,772 433,859 360,413 2,267,680 2,224,739 269,134 6,261,250 6,132,216 2,029,775 2,018,659 1,750,410 1,721,418 133,252 1 , 0 2 0 , 3 1 s 1,023,522 203,552 211,369 174,642 173,235 215,121 75.166 74,459 83,017 20,351 149,065 Cash i n v a u l t 112,425 112,250 33,130 4,602,132 4,567,219 1,036,310 38,473 268,119 1,157,567 1,153,433 242,199 815,716 557,377 555,244 29,673 31,022 5,943 7,005 3,457 4,010 56,701 625,034 1,695 671,322 500 231,202 923 243,92s 1,335 99,936 317 107,264 340 6,333 122,342 11.0 290,6so 626,044 223,350 632,311 15-2 19,321 106,252 19.159 103,166 15.6 15*5 17,368 64,752 13.1 16,421 63,705 13.3 294,219 269,516 13,894 18,294 2,543 3,216 397,257 63,227 143,126 244,020 6,216 122,432 11.2 17.8 215,692 994,033 3,003,194 7,934,509 1,772,714 1,732,475 1,765,953 1 , 7 4 0 , 4 3 1 293,914 B i l l s payable w i t h F . R. bank: Secured by U. S. war o b l i g a t i o n s 362,026 All e t h e r B i l l s r e d i s c o u n t e d w i t h F . R. bank: Secured by U. S . war o b l i g a t i o n s 143,707 F All other 250*139 R a t i o of LL S* war s e c u r i t i e s and war paper " A-17 R.. to i t e t a l ' l o a n s - and investments, p e r c e n t »O 195 1,439 627,393 Government d e p o s i t s 277 33,675 605,30s Time d e p o s i t s 277 3S,505 Reserve b a l a n c e s w i t h F« R. bank Net demand d e p o s i t s 50 14.9
@FedFRASER