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STATEMENT FOR THE PIESfi 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 } ; not e a r l i e r . St.262$. F e d e r a l R e s e r v e Board, March 2 , 1322. CONDITIO:! OF- MEMBER BANKS HI LEADING CITIES. A g g r e g a t e l i q u i d a t i o n of ,4142,000,000 of l o a n s and i n v e s t m e n t s , a c companied by commensurate d e c l i n e s i n d e p o s i t s , and s u b s t a n t i a l r e d u c t i o n s i n F e d e r a l r e s e r v e bank accommodation, 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 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 F e b r u a r y 2 1 of 80b member banks i n l o a d i n g c i t i e s , Wednesday, F e b r u a r y 2 2 , b e i n g o b s e r v e d a s a l e g a l h o l i d a y , t h e r e p o r t s a r e a s of Tuesday, F e b r u a r y 21. Loans s e c u r e d by Government o b l i g a t i o n s d e c l i n e d by $ b , 0 0 0 , 0 0 0 , l o a n s s e c u r e d by s t o c k s and b o n d s , - by $ 3 4 , 0 0 0 , 0 0 0 and a l l o t h e r l o a n s 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 , - by £ 4 0 , 0 0 0 , 0 0 0 , C o r r e s p o n d i n g changes f o r member b a n k s i n Mew York C i t y i n c l u d e a d e c l i n e of § 2 , 0 0 0 , 0 0 0 i n l o a n s s e c u r e d by Government o b l i g a t i o n s , of £ 3 0 , 0 0 0 , 0 0 0 i n l o a n s s e c u r e d by c o r p o r a t e o b l i g a t i o n s , and of * 3 3 , 0 0 0 , 0 0 0 i n commercial l o a n s p r o p e r . T o t a l l o a n s and d i s c o u n t s of a l l r e p o r t i n g banks show a d e c r e a s e f o r t h e week of $ 3 0 , 0 0 0 , 0 0 0 , of which £ 7 0 , 0 0 0 , 0 0 0 r e p r e s e n t s t h e d e c r e a s e in New York C i t y . Nominal changes i n h o l d i n g s of U n i t e d S t a t e s bonds and V i c t o r y n o t e s , a s a g a i n s t r e d u c t i o n s of $ 1 $ , 0 0 0 , 0 0 0 in T r e a s u r y n o t e s and of * 4 0 , 0 0 0 , 0 0 0 i n T r e a s u r y c e r t i f i c a t e s a r e shown, t h e l a t t e r r e f l e c t i n g t h e r e d e m p t i o n by the T r e a s u r y on F e b r u a r y l b of t h e b a l a n c e of £ 2 ^ 6 , 0 0 0 , 0 0 0 of l o a n c e r t i f i c a t e s i s s u e d on If&y l b , 1921. In New York C i t y t h e d e c r e a s e i n T r e a s u r y n o t e s amounted t o £ 8 , 0 0 0 , 0 0 0 , and i n T r e a s u r y c e r t i f i c a t e s - t o £ 2 1 , 0 0 0 , 0 0 0 , Holdings of c o r p o r a t e s e c u r i t i e s show a d e c l i n e of £ 3 , 0 0 0 , 0 0 0 f o r a l l r e p o r t i n g b a n k s a n d of £ 1 5 , 0 0 0 , 0 0 0 f o r the member banks i n New York C i t y . Accommodation of a l l r e p o r t i n g banks a t the F e d e r a l r e s e r v e banks shows a f u r t h e r r e d u c t i o n f o r t h e week f r o m £ 3 7 8 , 0 0 0 , 0 0 0 t o $ 3 2 1 , 0 0 0 , 0 0 0 , or f r o m 2 . b t o 2 , 2 p e r c e n t of the b a n k s 1 t o t a l l o a n s and i n v e s t m e n t s , For t h e memb e r banks i n New York C i t y a d e c r e a s e from $ 3 3 , 0 0 0 , 0 0 0 t o $ 4 3 , 0 0 0 , 0 0 0 i n t o t a l accommodation a t t h e l o c a l r e s e r v e bank and f r o m 1, 8 t o l e s s t h a n 1 p e r cent i n t h e r a t i o of accommodation i s n o t e d , S i n c e O c t o b e r 15, 1920, when t h e peak of c r e d i t e x p a n s i o n was r e a c h e d , t o t a l l o a n s and i n v e s t m e n t s of t h e r e p o r t i n g member b a n k s have d e c r e a s e d by £ 2 , 7 4 2 , 0 0 0 , 0 0 0 , t h e i r b o r r o w ings from the F e d e r a l r e s e r v e b a n k s , - by $ 1 , 9 2 5 , 0 0 0 , 0 0 0 , and t h e i r r a t i o of accommodation from 13 t o 2 . 2 p e r c e n t . I n New York C i t y the d e c r e a s e i n l o a n s and i n v e s t m e n t s f o r t h e p e r i o d has been £ 1 , 1 8 2 , 0 0 0 , 0 0 0 , i n F e d e r a l r e curve Dank accommodation £ 8 0 5 , 0 0 0 , 0 0 0 , a n d / t h e r a t i o of accommodation from 15 t o 0 . 9 p e r c e n t , in Government d e p o s i t s show a d e c r e a s e of £ 1 2 2 , 0 0 0 , 0 0 0 f o r the week, f o l lov/ing t h e r e d e m p t i o n of 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 on F e b r u a r y l b . Other aenanci d e p o s i t s ( n e t ) d e c l i n e d by £7b , 0 0 0 , 0 0 0 i n k e e p i n g w i t h the r e d u c t i o n in l o a n s , w n i l e time d e p o s i t s i n c r e a s e d by £29,000,COO. For member banks in New York C i t y Government d e p o s i t s show a r e d u c t i o n of $ 5 5 , 0 0 0 , 0 0 0 , o t h e r demand d e p o s i t s - a r e d u c t i o n of £ b 2 , 0 0 0 , 0 0 0 , and time d e p o s i t s - a n i n c r e a s e of £ 9 , 0 0 0 , 0 0 0 . Aggregate r e s e r v e b a l a n c e s a t t h e F e d e r a l r e s e r v e banks d e c r e a s e d a b o u t £ 6 4 , 0 0 0 , 0 0 0 , of w h i c h £ 3 5 , 0 0 0 , 0 0 0 r e p r e s e n t s t h e d e c r e a s e i n New York C i t y . Cash i n v a u l t r e m a i n e d unchanged f o r a l l r e p o r t i n g i n s t i t u t i o n s and shows an i n c r e a s e of £ 1 , 0 0 0 , 0 0 0 f o r New York C i t y . T h i s i t e m c o n s t i t u t e s 2 . 6 p e r c e n t of n e t demand d e p o s i t s of a l l r e p o r t i n g b a n k s , t h e c o r r e s p o n d i n g r a t i o f o r the New York C i t y banks b e i n g 1 . 9 p e r c e n t . 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 , Iferch 3 , 1922; n o t e a r l i e r . PRINCIPAL RESOURCE AMD LIABILITY ITEMS OF REPORTING- PM1BER BANKS IN LEADING CITIES. ~ (Amounts i n t h o u s a n d s of d o l l a r s ) — Number of reporting banks Loans and discounts, including bills rediscounted with. F. R. Bank: Secured by U. S. u-ovt. obligations o e c o r e d by stocks a n d b o n d s ( o t h e r than U. S. securities) other loans and aiscounts Total loans and discounts u. s. bonds U. S. Victory notes U. S. Treasury notes - St.2b25a„ ^'gcS' ^ ^ ^'sia' ^ ^ ' S2h'' ^ 435 557 3,092*451 7,322,50b 10,850,514 394,264 144,563 I4I41 727 3.125J95 7,3b2,b21 10,930,203 997,624 141,960 629,425 2,926,664 7,939,635 11,495,724 262,116 166,024 77b ,39b 3,068,590 2,915,497 12,760,4^3 272,877 195,320 255,391 52,019 315,055 207,739 171,323 234,272 Otner bonds, stocks and securities 2.087,932 2,090,2b9 2,022,7Cb 2,035,4b! Total loans & discounts & invest. .including bills redis'd. with. F.R.Bk.14 , 542,162 14,623,510 14,722 , 032 lb,099,019 Be36rVe M l a n C e W i t h R R BatiC * 1,262,930 1,333,056 1,210,452 1,296,202 Cabh i n v a u l t 269,541 269,280 301,426 327,399 Net derrand deposits 10,244,732 10,320,674 9,293,704 10,494,629 iiroe deposits , 3,091,027 3,Obi,970 2,904,7b0 2,909,245 Government deposits ,01,320 422,29b 197,059 121,25b 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 162,392 B i l l s p a y a b l e w i t h F e d e r a l R e s e r v e Bank: S t o - " : S^Govt^obligatior.^ - ~ Bills redis counted with Federal Reserve BanklirShcr 1 ' " SOVt ' o 6 1 1 s a t i o n s Ratio of bills payable and rediscounts with F. R. Bank to total loans and investments, per cent - ~ ~ 119,|14 209 1.57,014 200 261,397 593 563,422 1,532 10,37s 190,0a 14.609 205,G0U 75,609 022,999 2*,$74 l,llg,3bl oo ^^ 0 c.b ' b- r5 11-7 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 3 , 1922; not e a r l i e r . St.2625b. j.EI_iCIPAL RESOURCE AuB LIABILITY ITEMS OF ALL EEPOETING ME?.'IDBR BANKS' III'EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS FEB. 21, 1922. Federal t w m District Boston 1,3 How York 102 PhiKTClove^^lli™ % S n t f s s ^ % a CSiago^'St.Louis no ^ Mtan. Kans.Cy. D a l l a s 35 * 7S San T r a n . <* b i l l s r e d i s c o u n t e d with. F . E. Bank: •55HIS i U S at: I I si jg Jit, if a if m i l T o t a l loans and discounts U. S. "bonds US, 312 TJ. S. V i c t o r y n o t e s 3,29b U. S. T r e a s u r y n o t e s 14,918 U. S. C e r t i f i c a t e s of indebtedness 5,514 Other bonds , s t o c k s & s e c u r i t i e s 1*42,795 T o t a l l o a n s and d i s c o u n t s and investments, including b i l l s r e !i!Cr!tCid „l.trCe Cash i n v a u l t F E ' *Bk" n " E * Time d e p o s i t s :r 1 ~r:r,, B a I i : >m 839,261 1 0 , 8 5 0 , 5 1 4 97,762 994,864 12,090 144,563 19,713 295,391 6,975 2,644 3,282 13,225 4,922 5,5bl 4,837 4,339 15,615 168,398 -724,239 164. % 1 278,747 48,430 36,472 334,b8b 69,635 21,407 46,973 3,040 162,092 2,087,932 5 , 3 3 0 , 6 4 4 215,1429 1,443,336 10 5 594,9 ^ ' 9 1 0 ^566, ,990011 ^,290 8 9 , 0 0 4 14,705 25,916 740,521 4,612,235 blb,302 779,331 189,094 519,149 4 7 , 7 3 1 470,050 2 3 , 0 7 s 106,040 2 1 , 6 4 7 2 3 0 7 s ' ^ » • « ' 33 , 2 29 9 55 334,632 ^ 19,752 19,752 32O 2b,696 378 39,2H 5,611 12,502 : ^ 5,30b 75,533 !^'533 17,283 . S e c u r e d by U . S . G o v t . o b l i g . All other 95,678 1,023,923 Bank ITet demand d e p o s i t s ,928,747 570,161 1,004,649 437,016 350,132 1 , 5 7 3 , 1 0 8 436,854 242,369 425,953 233,676 397,135 48,102 122,167 59,749 2 6 , 5 8 8 7 6 , 1 7 5 2b,173 20,225 37,382 3 4 , 5 9 4 76,057 9,291 16,123 2,096 1,104 2,618 15,356 1,217 361 4,454 153,733 1 7 , 7 0 s 14,725 1,531 5,925 4,50b 5,619 3,930 39,736 3,737 Total 555,060 419,109 2 , 1 0 2 , 7 % 546,594 29 5,542 5 2 6 , 6 9 s 285,653 1,146,53% 14,542,162 32,783 13,556 29,356 8,861 180,172 47,926 45,591 6,850 20,296 5,861 47,199 11,453 23,539 9,061 74,755 19,065 1,268,930 269,541 301,479 2 2 9 , 3 9 4 1 , 3 2 0 , 7 3 0 320,376 177,939 332,424 198,312 565,595 1 0 , 2 4 4 , 7 3 8 130,383 142,354 530,007 « • « 658,773 157,761 ^ « . « 9 f 9 1 7 76,855 106,227 9l299 l l l W 62,593 ^ 3,091,027 301,320 11,2g 17,718 3,755 10,737 2.391 971 141 8,354 .- 1,SU 5 410 12,191 232 119,9* 809 •7i 31,005 20,002 974 3,772 4bS 16,095 406 11,580 I5I 2,611 510 10,284 2 3,315 207 7,513 10 378 190',0Sb 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 e o n , iv.ar. 3» 1^2^, n 0 k S a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN F„ R, BANK AND BRANCH CITIES AND IN OTHER SELECTED (Amounts i n t h o u s a n d s of d o l l a r s ) A l l F. R. F . R. Other New York C i t y C i t y of Chicago Bank c i t i e s Branch c i t i e s selected cities Feb. 21 F e b . 15 F e b . 21 Feb. 15 Feb. 21 Feb. 15 Feb. 21 F e b . 15 Feb.21 Feb. 15 Number of r e p o r t i n g banks 67 67 50 5C 275 275 213 213 318 319 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 ' d . w i t h F . R. Bank: 59,599 60,347 69,560 70,835 306,398 310,545 143,626 54,431 55,809 141,839 S e c u r e d by U . S . G o v t , o b l i g . 430,783 42Q.401 458,654 461,963 328,800 2 , 1 9 9 , 7 0 5 2 , 2 3 7 , 7 4 0 329,845 1 , 1 9 6 , 8 1 3 1,167,321 S e c u r s d by s t o c k s and bonds 1 , 2 9 6 , 0 1 1 1 , 2 99,856 1 , 3 8 5 , 4 8 8 l , 3 9 Q . 9 3 S 4 , 6 4 1 , 0 0 7 4,671,887 662,729 672,087 2 , 1 7 8 , 4 0 7 2,139,795 A l l o t h e r l o a n s and d i s c o u n t s 3,448,955 3,518,846 1,056,963 1,047,332 7,147,110 7,220,172 1,917,011 1,920,427 1,786,393 1,789,604 T o t a l l o a n s and d i s c o u n t s 228,624 228,556 225,769 226,751 540,504 24,115 538,344 25,135 349,958 347,43s U, S . bonds 18,226 31,184 19,313 30,778 91,463 9,488 8,750 95,559 66,730 68,819 U. S . V i c t o r y n o t e s 41,010 30,283 28,739 49,561 224,598 24,361 236,755 22,71*1 159,218 150,576 U. S . T r e a s u r y n o t e s 26,805 21,493 30,834 25,508 150,100 121,397 4,650 5,679 112,334 90,522 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 t 585,516 365,058 589,098 367,307 176,144 173,856 1 , 1 3 1 , 5 2 7 1 , 1 4 0 , 2 9 5 557,402 542.n 5 O t h e r b o n d s , s t o c k s and s e c u r i t i e s T o t a l l o a n s and 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. Bank 4,648,445 4,764,528 1,294,071 1,285,119 9,258,535 9,379,285 2,830,15b 2,846,078 2,453,471 2,458,143 R e s e r v e b a l a n c e w i t h F . R, Bank 550,989 586,994 131,090 134,186 927,987 580,141 191,620 202,351 145,323 150,564 Cash i n v a u l t ' 77,046 75,919 27,298 25,170 148,687 149,785 51,912 52.193 65,542 67,902 921,926 909,833 7,176,445 7,245,311 1,428,790 1,402,633 957,992 955,£-71 704,245 703,666 4,139,191 4,200,699 . Net demand d e p o s i t s 1,585,933 1,527,165 1,482,360 1,488,198 329,864 321,253 315,973 314,376 Government d e p o s i t s 97,707 153,274 30,725 43,220 215,063 309,208 56,649 71,^54 29,608 42,234 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 . G o v t , o b l i g a t i o n s All other 19,682 49,575 1,126 l,46l 56,182 85,218 36,573 417 43,406 420 27,159 392 28,390 38O 287 23,503 1,131 32,811 300 4,881 350 4,249 6,974 105,093 9,671 115,255 1,512 36,232 2,737 40.507 1,892 48,761 2,201 50,042 -9 1.8 •5 1,8 2.2 2.6 3-1 3-2 3-> Time d e p o s i t s 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, obligations All other Ratine 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 ^ i t h F . R. Bank t o t o t a l l o a n s and investments, per cent . -5
@FedFRASER