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STATEMENT FOR THE PRESS
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 , March 17;
not e a r l i e r .
st.2650.
F e d e r a l Reserve Board,
:larch l b , I922.
CONDITIO!! OF I/iEIffiEH BANKS IN LEADING CITIES.
Aggregate n e t l i q u i d a t i o n of $21,000,000 of loans a n d _ d i s c o u n t s and
of d.5 COO 000 of i n v e s t m e n t s , i n c o n j u n c t i o n with a r e d u c t i o n of
615 000 000 i n n e t derrand d e p o s i t s and of $63,000,000 i n borrowings from
t h e ' r e serve b a n k s , a s a g a i n s t an i n c r e a s e of *,21,000,000 i n time d e p o s i t s ,
i s i n d i c a t e d 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 statement
of c o n d i t i o n on March 8 of SOb member oanks i n l e a d i n g c i t i e s .
Loans s e c u r e d by U n i t e d S t a t e s Government o o l i & a t i o n s s^ow a d e c r e a s e
ef ^g,000,000 f o r the week, l o a n s s e c u r e d by s t o c k s and bonds - a d e c r e a s e
of $13,000,000, w h i l e o t h e r loans and d i s c o u n t s , l a r g e l y of a commercial
and i n d u s t r i a l c h a r a c t e r , i n c r e a s e d b y about $b,000,000. Corresponding
changes f o r member banks i n New York C i t y i n c l u d e ^ r e d u c t i o n s of $3,000,0u0
i n loans s e c u r e d by Government o b l i g a t i o n s , of 62b,000,OuO i n loans s e c u r e d
by s t o c k s and bonds and a n i n c r e a s e of $3,000,000 i n commercial loans p r o p e r .
Investments i n U n i t e d S t a t e s bonds a r e sr.own $3,000,000 l a r g e r than
the week b e f o r e , the t o t a l i n c r e a s e i n t h i s item f o r t h e p a s t s i x montms
being about $127,000,000. V i c t o r y n o t e s d e c l i n e d b y $ 2 , 0 0 0 , 0 0 0 , Treasury
n o t e s show no change, T r e a s u r y c e r t i f i c a t e s i n c r e a s e d by $10,000,000, while
o t h e r s e c u r i t i e s d e c l i n e d by $17,000,000. For member banks i n New York
City i n c r e a s e s of $ 5 , 0 0 0 , 0 0 0 each i n U. S. bonds and T r e a s u r y n o t e s and of
$12,000,000 i n T r e a s u r y c e r t i f i c a t e s , a s a g a i n s t r e d a c t i o n s of $5,000,000
i n V i c t o r y n o t e s and of $ 3 , 0 0 0 , 0 0 0 i n o t h e r s e c u r i t i e s , a r e n o t e d . In consequence of t h e changes i n d i c a t e d t o t a l loans 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 show a r e d u c t i o n f o r t h e week of §26,000,000 and those of
member banks i n New York C i t y - a r e d u c t i o n of $16,000,000,
Accommodation of t h e r e p o r t i n g banks a t t h e F e d e r a l r e s e r v e banks
shows a r e d u c t i o n f o r t h e week from $313,000,000 t o $255,000,000, or from
2 . 2 to 1, 8 p e r cent of t h e b a n k s ' t o t a l loans a n d i n v e s t m e n t s . For member
banks i n New York C i t y a d e c r e a s e from $33,000,000 to $14,000,000 i n t o t a l
borrowings f r o m the l o c a l r e s e r v e bank, and from 0 . 7 to 0 . 3 p e r cent in
t h e r a t i o of accommodation i s n o t e d . Of t h e t o t a l d i s c o u n t s of a l l F e d e r a l
r e s e r v e b a n k s , t h e amount h e l d under r e d i s c o u n t f o r r e p o r t i n g banks, i . e . ,
member banks l o c a t e d i n t h e l a r g e r c i t i e s , c o n s t i t u t e d a l i t t l e over 40
p e r cent on I.farch 8 of t h e p r e s e n t y e a r , compared w i t h Jo p e r cent on
March 11 of l a s t y e a r .
As a g a i n s t a nominal d e c l i n e i n Government d e p o s i t s , o t h e r demand dep o s i t s ( n e t ) show a d e c r e a s e of $15,000,000 and time d e p o s i t s an i n c r e a s e
of $21,000,000. The New York C i t y banks r e p o r t c o n s i d e r a b l e withdrawals
of bank b a l a n c e s by c o u n t r y c o r r e s p o n d e n t s and a d e c l i n e of $19 ,000,000 i n
t o t a l demand d e p o s i t s . T h e i r time d e p o s i t s i n c r e a s e d by $12,000,000, while
no change i s s h o r n i n t h e i r Government d e p o s i t s .
Reserve b a l a n c e s of r e p o r t i n g i n s t i t u t i o n s a t the F e d e r a l r e s e r v e banks
show a d e c l i n e f o r t h e week of $ 1 0 , 0 0 0 , 0 0 0 , while cash i n v a u l t i n c r e a s e d
b-y $14,000,000, For member banks i n New York C i t y i n c r e a s e s of $7,000,000
i n r e s e r v e b a l a n c e s and of $4,000,000 i n cash on hand a r e shown.
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 , March IT, 1^22; not e a r l i e r .
PRINCIPAL RESOURCE AMD LIABILITY ITEMS OF REPORTIMG- ?IEMDER IIAITKS 111 LEAH1IG CITIES
——
—
(-Amounts in thousands of d o l l a r s )
Iftmiber of r e p o r t i n g "banks Loans and d i s c o u n t s , i n c l u d i n g b i l l s r e d i s c o u n t e d w i t h F. R BankSecured b y U. S. Govt, o b l i g a t i o n s
. J' _ '
!
•
s
:&rch 8, 1922
^
l n Q ntrc,
-
March 1, 1922
o
.
c:
O t . e r b o n d s , s t o c k s and s e c u r i t i e s
S J S h m
12,672,03!+
370,1182
865,770
r i l
^2,0gg
994,4142
212
!'!
7
US 333
'
3,0^^0
2.0^70b
2 . ^ 0
"
i.jOJ.TO
1.31MU0
1,236,233
1,3^,232
307, b00
33°,03?
S.582,367
10,535,101
2?7 33U
net demnd deposits
263 052
'
Time d e p o s i t s
'
"
"W.tilO
[
'
B i l l s p a y a b l e w i t h F e d e r a l Reserve Bank:
S e c u r c d by U. S. Govt, o b l i g a t i o n s _ _ _ _ _ _ _ _ _
All other _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
"
T
'
^
_nr
~
B i l l s r e d i s c o u n t e d w i t h ~. s ."Loral Reserve 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
_
__
_
_
'^
mus
Cash i n v a u l t
1
3
S
.
7
U
7
U0,o0,-
,919
264,715
558,428
,
11,422
.
62,363
205,582
b. 7
11,b
> 7-/7
,7)
9 , 3 74
t
_
Katio 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 w i t l i F . b " Bank
t o t o t a l loans and i n v e s t m e n t s , p e r c e n t
LZ&illl
11,421,850
I - X I I " "
K. 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
Government deposits
.
L2>0&iL
10,917,535
997,bo3
U. S. T r e a s u r y n o t e s
.
March 11, I 9 2 I
82
^
i
10,89b,22 5
U. S„ V i c t o r y n o t e s
Sept. J , K 2 1
810
T o t a l loans and d i s c o u n t s
TT
St.2^0;
is?
-L,s
2.2
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 , March 1 / , 1922; not e a r l i e r .
St.2650b.
PRINCIPAL RESOURCE Alto LIABILITY ITEMS OF ALL REPORTING MEMBER BA13CS III EACJI FEDERAL RESERVE "DISTRICT AT CLOSE OF BUSINESS MARCH 5, 1922,
(Amounts 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 .
Total
Clove. Rich.
A t l a n t a Chicago S t . Louis Minn, /Cans. Cy . D a l l a s San Fran.
Ifeiiber of r e p o r t i n g banks
108
58
806
68
82
110
37
49
85
52
43
79
35
Loans and d i s c o u n t s , i n c l u d i n g
"bills rsdiscounted with
F. R. Bank:
Secured by U.S.Govt, o b l i g .
148,955 4 1 , 3 6 8
23,728
419,058
19,132
4 2 , 3 0 4 17,489 12,252
6 8 , 7 0 8 15,501
9,093 15,048
5,475
Secured by s t o c k s and bonds
2 1 4 , 3 7 2 l ,343,115 20S,b42
140,932 3 , 1 1 0 , 7 7 3
328,362 108,432 54,205
447,226 124,145 31,Ob 3 6 3 , 4 1 6 41,858
A l l other loans 5 discounts
565,605 2 , 4 4 9 , 8 6 3 321,284
696,432 7 , 3 b b , 3 9 4
630,426 311,644 285,539 1 . 0 6 8 . 3 0 0 293,466 202,878 352,097 138,860
T o t a l l o a n s and d i s c o u n t s
8 0 3 , 7 0 5 3 ,946,933 571,294 1,001,052 437,565 351,996 1 , 5 8 4 , 2 3 4 433,112 243,044 4 3 0 , 5 6 1 236,193
856,496 10,896,225
U. S. bonds
402,944
48,653
121,634
58,103
26,037
79,088
24,552
18,459
37,077
34,453
97,050
U. S. V i c t o r y n o t e s
49,563
2 ,681
75,282
11,259
17,032
2,005
2,535
15,499
4,284
335
2.713
1,195
13,137
997,663
148,007
U. S. T r e a s u r y n o t e s
14,498
151,318
14,277
13,968
5,532
1,491
34,042
2,657
5,668
7,703
3,735
17,644
272,588
4,782
81,311
5,813
6,151
2,038
3,365
33.664
13,26b
6,916
3,914
21,682
5,555
43,548
4,258
15,124
152,493
8,433
164,773
2,052,230
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 140,737
696,782 162,894
277,102 48,971
379.169
T o t a l l o a n s a n d 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.Bk, 1 , 0 1 5 , 9 6 b 5 , 3 5 4 , 5 7 0 814,190 1,1+37,029 554,214 419,083 2 , 1 0 5 , 2 9 s
Reserve b a l a n c e w i t h F. R, Bank 7 4 , 4 0 4
623,743 6b',O33
3 7 , 9 0 1 33,289 2 7 , 2 1 5
183,541
Cash i n v a u l t
17,389
8 9 , 7 8 1 14,807
2 7 , 2 3 3 13,762
9,301
49,355
Net dercand d e p o s i t s
732,690 4,644,257 637,567
780,293 304,839 233,242 1,340,602
Time d e p o s i t s
190,851
519,011 48,277
472,287 131,691 142,379
664,442
Gov s r n a e n t d e p o s i t s
21,853
28,614
99,396 19,893
7,908 • 3,590
39,042
B i l l s p a y a b l e w i t h F.R.Bank:
S e c u r e d by U. S. Govt, o b l i a .
2,63s
22,243 16,010
6 , 9 4 3 13,424
5,969
913
All other
26
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.Govt, o b l i g .
1,199
1,182
3,833
131
^ 963
885
97
All other
22,986
19,262
7,265.
13,644
30,657 1 8 , 2 1 3 . 6 , 1 5 4
•
69.470
5 4 0 , 9 9 1 293,152 532,162 288,317 1,164,229 1 4 , 5 1 9 , 2 0 6
18,594 4 1 , 4 6 5 21,517
6,189 1 1 , 8 7 1
9,428
7,104
317,552 180,460 3 3 6 , 1 5 2 1 9 9 , 3 3 7
158,317 7 4 , 3 1 9 104,806 60,479
8,345 11,170.
6,796
9,455
43,623
2,013
403
100
-
380
10,743
-
1,776
1,748
-
392
9,83b
1,590
50
-
4,017
77,433
21,114
1,303,763
16,834
278,396
12,826
300
86,720
476
307
14,181
9,374
153,734
277,334
576,573 1 0 , 3 3 4 , 1 1 4
533,041 3 , 1 0 4 , 9 0 0
Released f o r p u b l i c a t i o n Friday afternoon* Mar, 17 >
^ not e a r l i e r *
S t»2o50^»
PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN F» fi. BANK AND BRANCH CITIES AND IN OTHER SELECTED CITIES
{Amounts in thousands of d o l l a r s ) __ _ _ _ _ _
A l l F. R,
F. R.
Other
New York C i t y
City of Chicago
Bank c i t i e s
Branch c i t i e s
selected cities
Mar, 8
Mar. 1
Mar. 8
Mar. 1
Mar. 8
Mar. 1
Mar. 8
Mar. 1 Mar. 8
Mar, 1
6?
67
50
50
Number of reporting banks
275
275
212
213
319
319
Loans and d i s c o u n t s , i n c l u d i n g
t i l l s r e d i s 1 d . w i t h F. R. Bank:
132,600
135,155
54,587
55,724
68,968
292,363
298,297
Secured "by U. S. Govt, o b l i g .
58,802
59,683
67,893
1 , 1 7 6 , 9 1 0 1,202,786
328,884 2 , 2 2 3 , 7 5 9 2,243,333
461,228
461,361
330,983
425,786
425,657
Secured by stocks and bonds
2,162,809 2,160,043
681,558
679,330 4,672,836 4,670,046 1,396,124 1 , 3 9 3 , 4 2 9 1 , 2 9 7 , 4 3 4 1,296,761
A l l other loans and discounts
3,472,319 3 , 4 9 7 , 9 8 4 1,067,128 1 ,063,938 7,188,958 7,211,676 1,925,245 1 , 9 2 3 , 7 5 8 1,782,022 1,782,101
Total loans and discounts
353,532
348,360
25,471
26,513
542,756
538,186
225,987
226,237
228,020
230,019
U. S. Victory notes
66,963
71,698
9,386
10,058
95,950
100,061
33,677
31,070
18,380
18,855
U. S . Treasury notes
143,328
138,454
18,208
17,955
203,787
203,653
39,036
39,044
29,765
29,816
U. S. C e r t i f i c a t e s of indebtedness
76,368
64,387
4,786
4,797
106,145
96,318
24,220
24,977
22,128
20,663
Other bonds, s tocks and s e c u r i t i e s
Total loans Sad discounts and
investments, including b i l l s
re discounted with F . R, Bank
514,235
521,682
178,330
176 ,008
1,104,182 1,112,794
580,798
589,118
367,250
366,794
1,303,309 1 ,299,269
9,241,778 9,262,688
U. S. bonds
Reserve balance with 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
Government d e p o s i t s
B i l l s payable with F. R, Bank:
Secured by U. S. Govt, o b l i g a t i o n s
A l l other
B i l l s rediscounted with F. R. Bank:
Secured by U. S, Govt, o b l i g a t i o n s
A l l other
Ratio of b i l l s payable &ni rediscounts
<*vith F. R. Bank to t o t a l loans and
. investments, per cent
4 , 6 2 6 , 7 4 5 4,642,565
2,828,963 2 , 8 3 4 , 2 0 4
2,448,465 2,448,248
577,673
570,817
130,658
139,971
958,418
965,492
155,710
199,047
149,635
149,901
77,777
73,898
29,091
27 ,685
153,726
145,677
52,621
50,578
70,987
66,837
4 , 1 7 2 , 4 4 9 4,190,647
929,568
934,163
7,223,199 7,253,714
329,789
312,165
317,479
316,571
1,443,858 1 , 4 2 2 , 2 9 2
955,057
959,926
705,985
701,934
91,560
91,560
29,287
29,121
202,399
202,233
47,919
48,864
28,078
28,505
7,319
26,519
160
501
37,180
62,511
24,370
350
34,893
277
25,170
126
26,515
131
1,094
5,868
1,055
5,839
3,099
300
9,423
6,153
81,498
8,162
101,327
1,642
34,159
1,492
33,911
1,579
43,127
1,768
47,286
v3
•7
.3
.8
1.4
1.9
2,1
1,618,731 1 , 6 0 1 , 5 9 7
2.5
1,492,184 1,493,329
2,9
3-1
@FedFRASER