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Form FR-284 For immediate release STATEMENT FOR THE PRESS Board of Governors of the Federal Reserve System May 23, 1938 Condition of Weekly Reporting Member Banks in 101 Leading Cities The condition statement of weekly reporting member banks in 101 leading cities shows the following principal changes for the week ended May 18t Decreases of $36,000,000 in commercial, industrial, and agricultural loans, $28,000,000 in holdings of United States Government obligations and $70,000,000 in "Other securities"; an increase of $106,000,000 in reserve balances with Federal Reserve banks; a decrease of $29,000,000 in demand deposits-adjusted, and an increase of $54,000,000 in deposits credited to domestic banks* Commercial, industrial, and agricultural loans declined $14,000,000 in New York City and $36,000,000 at all reporting member banks. Holdings of open market paper decreased $6,000,000 in New York City and $9,000,000 at all reporting member banks. Loans to brokers and dealers in securities declined $5,000,000. Holdings of United States Government direct obligations declined $41,000,000 in New York City and $28,000,000 at all reporting member banks, and increased $12,000,000 in the Cleveland district. Holdings of obligations fully guaranteed^ by the United States Government increased $10,000,000. Holdings of "Other securities" declined $66,000,000 in New York City and $70,000,000 at all reporting member banks. Demand deposits-adjusted declined $62,000,000 in New York City, and increased $35,000,000 in the Cleveland district (largely incident to the opening of the Union Bank of Commerce Company, Cleveland, as a successor to the Union Trust Company which was not licensed following the banking holiday)• All reporting member banks showed a net decrease of $29,000,000 in demand deposits—adjusted. Deposits credited to domestic banks increased $5-4,000,000, the increase being distributed among a number of the districts. Weekly reporting member banks reported no borrowings on May 18. A summary of the principal assets and liabilities of the reporting member banks, together with changes for the week and the year ended May 18, 1938, follows 1 May 18, 1938 ASSETS Loans and Investments - total 20,679 Loans - total 8,408 Commercial, industrial, and agricultural loans1 On securities 563. Otherwise secured and unsecured 3>513 Open market paper 376 Loans to brokers and dealers in securities 590 Other loans for purchasing or carrying securities 587 Real estate loans 1,157 Loans to banks 120 Other loanst On securities 695 Otherwise secured and unsecured 809 U. S. Government direct obligations 7,989 Obligations fully guaranteed by U. S. Gov't 1,354 Other securities 2,928 Reserve with Federal Reserve banks 6,107 Cash in vault 379 Balances with domestic banks 2,315 LIABILITIES Demand deposits-adjusted 14,569 Time deposits 5,209 U. S. Government deposits 545 Inter-bank deposits: Domestic banks 5,732 Foreign banks 315 Borrowings ~ Increase or decrease since May 19, May 11, 1937 1938 -131 —43 +2 -38 -9 -5 -2 +5 +5 -1 -1,498 -1,092 -11 -120 -121 -733 -135 -5 +2 -13 +44 +38 -325 +192 -273 +758 +50 +534 -29 -856 -1 +54 -1 +363 +617 -28 +10 -70 +106 -12 +2 -212 —24 Form FR-284-a STATEMENT FOR THE PRESS Board of Governors of the Federal Reserve System May 19, 1938 For immediate release ASSETS AND LIABILITIES OF WEEKLY REPORTING MEMBER BANKS IN CENTRAL RESERVE CITIES (In millions of dollars) New York City 19 3 7 1 9 38 May 19 May 181 May 11 Chicago 19 3 7 19 3 8 ay 18IMay 11 May 19 Loans and Investments - total 7,562 7,694 8,318 1,835 Loans - total 2,998 3,018 3*787 546 551 647 231 1,331 137 462 232 228 1,348 1,381 157 143 468 1,127 21 344 21 27 21 348 22 27 33 390 28 42 ASSETS Commercial, industrial, and agricultural loans» On securities Otherwise secured & unsecured Open market paper Loans to brokers and dealers Other loans for purchasing or carrying securities Real estate loans Loans to banks Other loansi On securities Otherwise secured & unsecured 1,830 1,995 204 118 92 206 118 92 277 129 76 65 12 65 12 81 l4 3 223 200 218 197 242 166 21 35 21 35 23 33 U» 8. Gov't obligations Obligations fully guaranteed by U. S. Gov't Other securities 3,035 3,076 3,022 872 869 956 555 974 434 560 1,040 1,075 117 300 116 294 95 297 Reserve with F« R. bank Cash in vault Balance with domestic banks Other assets - net 3,019 50 71 494 2,957 2,496 51 51 68 67 488 488 812 30 206 51 798 29 198 52 609 29 157 63 5,975 633 146 6,037 6,392 704 633 4i 148 1,418 463 117 1,404 464 116 2,362 273 2,353 1,916 489 277 667 $ 653 7 558 6 319 1,488 15 389 321 1,488 1,475 19 244 19 244 20 236 LIABILITIES Demand deposits — adjusted Time deposits U» 8. Gov't deposits Inter-bank depositsI Domestic banks Foreign banks Borrowings Other liabilities Capital account 1, 449 79 Form FRr-2S4-b ASSETS AND LIABILITIES OF WEEKLY REPORTING MEMBER BANKS IN 101 LEADING CITIES ON MAT 18, 1938 (In millions of dollars) Total Rich mond Phila— districts ASSETS 20,679 Loans and Investments - total 8,408 Loans - total Commercial, industrial, and agricultural loanst 561 On securities 3,513 Otherwise secured and unsecured 376 Open market paper 590 Loans to brokers and dealers in securities Other loans for purchasing or 587 carrying securities 1,157 Real estate loans 120 Loans to banks Other loans! 695 On securities 809 Otherwise secured and unsecured 7,989 U. S. Gov't obligations Obligations fully guaranteed by U.S.Gov't 1,354 2,928 Other securities 6,107 Reserve with F. R. bank 379 Cash in vault 2,315 Balances with domestic banks 1,306 Other assets - net LIABILITIES 14,569 Demand deposits—adjusted 5,209 Time deposits 545 U. S. Gov't deposits Inter-bank deposits* 5,732 Domestic banks 315 Foreign banks Borrowings 766 Other liabilities 3,648 Capital account District St. Minne Atlanta Chicago Louis apolis San Francisco 2,131 988 8,413 1,098 3,400 433 48 232 l4 23 11 l4o 3 7 39 468 38 30 43 128 9 5 16 31 1 15 28 4 76 89 5 48 7 % 149 470 47 154 23 16 32 83 3 276 224 92 34 58 2 174 2 55 60 392 27 129 306 113 143 74 253 260 3,279 601 1,133 3,I4O 65 151 590 48 51 308 90 267 271 17 160 83 123 43 715 84 249 381 38 242 102 28 41 282 35 60 133 17 140 37 26 50 154 40 77 94 11 131 38 1,010 262 12 6,516 1,030 154 779 288 20 1,042 737 18 408 199 13 235 9 2,436 275 294 330 2 207 22 240 332 1,616 15 227 18 21 93 37 242 75 19 244 1,432 6 36O 94 10 3 9 63 5 16 130 18 3 10 135 2 2 44 295 30 11 7 12 22 l4 20 1 1 55 374 2 1 6 102 16 6 112 151 12 269 22 10 33 171 29 49 96 10 218 26 75 102 712 l4l 290 321 19 230 211 388 186 23 243 119 3 472 144 18 395 130 25 862 1,059 91 249 122 3^9 188 24a 1,372 193 431 1,015 60 4i4 84 11 28 220 56 91 135 11 115 23 11 52 153 15 40 64 325 183 23 2,129 872 145 201 873 7 1 1 12 26 231 43 1 6 3 5 23 8 5 6 9 4 . 8 2 371 89 90 opened May 16 as successor to Union 6 309 330
@FedFRASER