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STATEMENT FOR THE PRESS For immediate r e l e a s e s t 5725 F e d e r a l Re serve Board, March 26, 1928. CONDITION OF MEMBER BAMS IN LEADING CITIES The F e d e r a l Reserve B o a r d ' s c o n d i t i o n s t at emen t of 648 r e p o r t i n g member banks i n l e a d i n g c i t i e s as of March 21 shows a d e c r e a s e f o r t h e week of $55,000,000 i n l o a n s and d i s c o u n t s , an i n c r e a s e of $116,000,0.00 i n i n v e s t m e n t s , a d e c l i n e of $345,000,000 i n n e t demand d e p o s i t s , an i n c r e a s e of $50,000,000 i n time d e p o s i t s , and an i n c r e a s e of $271,000,000 i n Government d e p o s i t s . Loans on s t o c k s and bonds, i n c l u d i n g U n i t e d S t a t e s Government o b l i g a t i o n s , were $09,000,000 below t h e March l 4 t o t a l t o t a l a t a l l r e p o r t i n g b a n k s , d e c r e a s e s of $?8,000,000 and $ 8 , 0 0 0 , 0 0 0 , r e s p e c t i v e l y , i n t h e New York and San F r a n c i s c o d i s t r i c t s b e i n g p a r t l y o f f s e t by i n c r e a s e s of $9,000,000 and $7,000,000 i n t h e Chicago and Boston d i s t r i c t s . "All o t h e r n l o a n s and d i s c o u n t s i n c r e a s e d $14,000,000 a t a l l r e p o r t i n g banks and $31,000,000 i n t h e New York d i s t r i c t , and d e c l i n e d $10,000,000 i n t h e Chicago d i s t r i c t and $6,000,000 i n t h e San F r a n c i s c o district. The p r i n c i p a l i n c r e a s e s by d i s t r i c t s i n U n i t e d S t a t e s s e c u r i t y h o l d i n g s , which jit a l l r e p o r t i n g banks were $105,000,000 above t h e March l 4 t o t a l , were: Chicago 4 , 2 1 , 0 0 0 , 0 0 0 , Boston $ 1 9 , 0 0 0 , 0 0 0 , San F r a n c i s c o $17,000,000, and C l e v e l a n d $14,000,000. Holdings of o t h e r bonds, s t o c k s and s e c u r i t i e s d e c l i n e d $18,000,000 i n t h e New York d i s t r i c t and i n c r e a s e d $16,000,000 i n t h e C l e v e l a n d d i s t r i c t and $11,000,000 At a l l r e p o r t i n g b a n k s . Net demand d e p o s i t s d e c l i n e d $345,000,000 a t a l l r e p o r t i n g b a n k s , a l l d i s t r i c t s showing d e c r e a s e s e x c e p t P h i l a d e l p h i a , which showed an i n c r e a s e of $23,000,000, t h e p r i n c i p a l d e c l i n e s by d i s t r i c t s b e i n g : New York $224,000,000, Chicago $54,000,000, San F r a n c i s c o $22,000,000, S t . Louis $16,000,000, and A t l a n t a $15,000,000. Time d e p o s i t s i n c r e a s e d $50,000,000 a t a l l r e p o r t i n g b a n k s , $29,000,000 i n t h e New York d i s t r i c t , $14,000,000 i n t h e C l e v e l a n d d i s t r i c t , and $9,000,000 i n t h e Chicago d i s t r i c t , and d e c l i n e d $9,000,000 i n the San F r a n c i s c o d i s t r i c t . Government d e p o s i t s , i n connection with t h e T r e a s u r y ' s q u a r t e r l y f i n a n c i a l o p e r a t i o n s , i n c r e a s e d $271,000,000, a l l d i s t r i c t s p a r t i c i p a t i n g i n t h e i n crease. The p r i n c i p a l changes i n borrowings f r o m the F e d e r a l r e s e r v e banks comprise a d e c l i n e of $28,000,000 i n t h e New York d i s t r i c t and an i n c r e a s e of $34,000,000 i n t h e C h i c a g o . d i s t r i c t , a l l r e p o r t i n g banks showing a n e t i n c r e a s e of $1,000,000. A summary of t h e p r i n c i p a l a s s e t s and l i a b i l i t i e s of 648 r e p o r t i n g member b a n k s , t o g e t h e r with changes d u r i n g t h e week and t h e y e a r e n d i n g March 21, 1928, follows: ( i n t h o u san d s of d o l l a r s ) Mar. 21 I n c r e a s e or d e c r e a s e during ITaek Year 1928 Loans and i n v e s t m e n t s - t o t a l 21,924,746 + 60,734 4- 1 , 5 4 4 , 4 8 0 Loans and d i s c o u n t s - t o t a l + 15,270,210 863,288 - 55,491 Secured by U.S.Govt, o b l i g a t i o n s 28,846 122,235 - 21,395 Secured by s t o c k s and bonds + - 48,4i4 6,334,274 701,843 A l l o t h e r l o a n s and d i s c o u n t s 4+ 14,318 8,813,701 190,291 Investments - t o t a l + +116,225 6,654,536 681,192 U.S. Government s e c u r i t i e s + 3,015,681 426,231 +105,091 Other b o n d s , s t o c k s and s e c u r i t i e s + + 11,134 254,961 3.637,855 Reserve w i t h F. R. banks - 28,205 3,61s 1,707,746 Cash i n v a u l t 242,261 - 5,354 19,586 Net demand d e p o s i t s + 13,443,683 -1344,829 352,933 Time d e p o s i t s + + 49,94o 6,-750,524 693,753 Government d e p o s i t s 281,446 + 271,103 31,478 Dae f r o m b a n k s + - 22,263 1,171,857 33,734 Due t o banks - 160,102 43,435,444 212,255 Borrowings frooa F. R. banks - t o t a l + + 1,306 43,962 *353,201 Secured by U, S, Govt, o b l i g a t i o n s + 224,817 17,968 5,159 All other 4128)384 + 6,465 25,994 C. •Mar. l 4 f i g u r e s r e v i s e d . ^ ' x or . • immediate r e l e a s e F e d e r a l Reserve Board - a r c h 22, 1928. CONDI TI01T OF 1FJSS7.Y REPORTING :C:3ER B.l.iICS IiT CENTRAL BSSERVE CITIES ( I n thousands of d o l l a r s ) MSW YORE 1 47 BA2IKS Loans and i n v e s t m e n t s - t o t a l Mar. 21 1923 7,110,373 Mar. lU Mar. 2$ • 19 28 1927 7,184,130 6,405,91$ Loans and d i s c o u n t s - t o t a l 5,109,998 5,l6o,Q52 4,555,868 4o,842 2,334,625 2]734!531 60,986 55«478 2,393,990 2,031 2,'705^076 2 ^ 4 6 8 * 4 # 2,000,375 2,024,078 1,850,048 1,085,326 915,049 1,087,501 936,577 916,846 933,202 717,451 ^,955 729,592 52,006 751,479 56,U54 oecurcd by J . S. Government o b l i g a t i o n s Secwed by stocks and bonds All o t h e r loans and d i s c o u n t s Investments - t o t a l U. S. C-overnment s e c u r i t i e s y t h e r bonds, s t o c k s and. s e c u r i t i e s Reserve with p. R. Bank Cash i n v a u l t ^ d e m a n d deposits Time d e p o s i t s ^ government d e p o s i t s 5,358,916 1,084,050 84,855 5,57b,679 5,101,837 1,060,160 927,688 3,l6l 90,138 Due from banks Due t o banks 120,797 1,283,237 100,087 98,219 1,357,391 1,083,518 Borrowings from P. R. Bank - t o t a l Secured, dy U. S. Government o b l i g a t i o n s m other Loans t o b r o k e r s and d e a l e r s (secured by stocks and bonds): For own account ^or account of o u t - o f - t o w n banks For account of o t h e r s 44,300 66,685 106,081 27,450 i6]850 48,950 17^735 86,450 19,*631 1,027,394 1,466,586 1.284.734 1,090,173 881,114 1,446,270 1,087,758 1,209,621 833,315 3,778.714 2,884,254 894,460 3,746,064 2,802,187 2,846,689 2,142,398 899,375 659,789 Loans and investments - t o t a l 1,992,559 1,981,602 1,843,302 Loans and d i s c o u n t s - t o t a l l kxp rvk i he7 qpq i 737 Wc Total On demand time 0n CHICAGO - 43 BAMS Secured by U. S. Government o b l i g a t i o n s Secured by stocks and bonds All o t h e r l o a n s and d i s c o u n t s Investments - t o t a l U. S. Government s e c u r i t i e s Other bonds, s t o c k s and s e c u r t i c s Reserve with P. 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 Dae from banks •Due to banks Borrowings from F. R. Bank - t o t a l Secured by U.S.Government o b l i g a t i o n s All other 17,862 751,912 712,800 19,158 746,408 718,363 14,097 680,711 692,677 509.755 497,673 455,817 228,657' 281,098 216,334 281,339 196,247 259,570 177,505 16,771 187,178 16,864 163,306 20,344 1,242,045 668,659 21,934 1,274,895 1,222,154 661,4o3 577,021 516 19,471 152,123 366,556 161,374 382,949 168,048 382,599 37,965 19,704 17,731 36,233 1,732 18,788 .916 13,815 3,916 For immediate r e l e a s e s t . 5725b PRINCIPAL RESOURCES AND LIABILITIES OF ALL REPORTING MEMBER BAMS IN EACH FEDERAL RESERVE DISTRICT AS AT CLOSE OF BUSINESS,MARCH 21, 1928. ( I n thousands of d o l l a r s ) Federal Reserve D i s t r i c t Total Boston New York Phila. Cleve. Rich. A t l a n t a Chicago S t . L o u i s Minn.Xans.Cy. D a l l a s San Fran. Loans & i n v e s t m e n t s - t o t a l Pl.qgU.7U6 1.582.582 8.307.289 1.222.226 2.17%.967 689,707 618.862 3.194.704 724.022 388.230 669,229 4 4 6 , 6 0 0 1.906.328 Loans and d i s c o u n t s - t o t a l 15.270.210 1.094.847 5.839.79% Secured by us Govt o h i i g . Secured by s t o c k s & bonds All other loans & d i s c t s 804.9S4 1.432.162 511.942 488.879 2.276.378 504.272 254.237 440.273 337.787 1 . 2 8 4 . 6 8 4 122,235 6,334,274 8,813,701 5,349 42,432 424,539 2,708,411 664,959 3,088,952 8,212 44o,844 355,898 15,237 3,298 5,437 24,344 4,126 2,451 3,603 3,434 6 4 i , 4 4 6 159,753 119,817 996,467 199,156 75,774 135,134 86,448 775,479 3 ^ , 8 9 1 363,625 1,255,567 300,990 176,012 301,536 247,905 6,654,536 487,735 2,467,494 417,272 742,805 177,765 129,983 918,326 219.750 133,993 228.956 108,813 U.S.Govt, s e c u r i t i e s 3,016,681 other b o n d s , s t k s . & s e c u r . 3,637,855 182,555 1,191,352 305,180 1,276,142 108,202 309,070 323,454 4i9,35i 78,233 99,532 63,974 66,009 383,203 86,149 535,123 133,601 70,465 109,345 63,52s 119,611 78,492 30,321 84,162 l4,674 127,138 30,063 4i,447 11,810 4o,465 10,985 254,o64 39,333 25,778 5,500 31,950 8,643 Investments - t o t a l Reserve with F. R. Bank Cash i n v a u l t S e t 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 Due from banks Due t o banks 1,707,746 242,261 105,850 18,784 781,704 63,773 47,847 7,092 57,051 11,150 13,448,683 6,750,524 281,446 935,785 5,963,586 524,250 1,612,872 21,033 94,436 786,264 1,025,850 365,273 332,894 1,820,169 398,801 229,644 504,284 299,622 287,970 967,502 246,681 239,209 1,236,887 249,115 133,590 168,089 118,343 15,772 20,682 9,585 21,234 32,650 7,159 3,456 7,004 12,098 1,171,857 3,435,444 47,779 158,559 151,998 1,350,734 75,056 175,347 98,112 50,468 73,893 238,035 109,164 119,225 227,212 52,066 45,889 116,122 520,176 130,699 107,979 219,75% 55,718 98,835 Borrowings from FR B k - t o t a l 353,201 30,674 60,109 25,497 ^6,447 16,529 10,594 69,663 20,904 3,500 7,495 1,459 Secured by u s Govt o b i i g . All o t h e r 224,817 128,384 13,386 17,288 4i,975 18,134 l6,34l 9,156 22,536 23,911 3,56o 12,969 3,074 7,520 57,258 12,405 8,343 12,56l 3,500 - 4,345 3,150 100 1,359 648 36 80 50 71 66 33 92 30 24 65 45 Number of r e p o r t i n g banks b.
@FedFRASER