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Board of Governors of the Federal Reserve System November 12, 1935 For immediate r e l e a s e STATEMENT FOR THE PRESS Beginning t h i s week the weekly condition statement of reporting member banks, issued by the Board of Governors of the Federal Reserve System, w i l l cover reporting banks in 101 leading c i t i e s as i t did p r i o r to the banking holiday in 1933, instead of 91 c i t i e s as i n the recent p a s t . When p u b l i c a t i o n of the s t a t e ment was resinned following the banking holiday, c e r t a i n c i t i e s were dropped from the published statement temporarily because a l l or some of the important reporting banks i n each of those c i t i e s had not then been licensed to resume f u l l banking operations. The weekly statement has been revised f u r t h e r so as to show a d d i t i o n a l items which have been reported to the Board since September 19 3^ • The amount of "Loans to banks" was included heretofore p a r t l y in "Loans on s e c u r i t i e s - to others" and p a r t l y in "Other loans". The item "Demand deposits - adjusted" r e p r e sents the t o t a l eunount of demand deposits standing to the c r e d i t of individuals, p a r t n e r s h i p s , corporations, a s s o c i a t i o n s , S t a t e s , counties, m u n i c i p a l i t i e s , e t c . , minus the amount of cash items reported as on hand or in process of c o l l e c t i o n . The new item i s a more accurate measure of changes in the volume of demand deposits available f o r use of the general public than was the old item "Net demand deposits", which represented merely demand deposits subject to l e g a l reserve requirements. The method of computing the item "Net demand deposits", furthermore, has been changed in two respects i n accordance with provisions of the Banking Act of 1935 : f i r s t , i t includes United States Government deposits, against which reserves must now be carried, while previously these deposits required no reserves, and, second, amounts due from banks are now deducted from gross demand deposits, r a t h e r than solely from amounts due to bai&s as was required under the old law. These changes make the f i g u r e s of "Net demand deposits" not comparable with those shown p r i o r to August 23, 1935. The item. "Time deposits" d i f f e r s from that previously published in that i t formerly included a r e l a t i v e l y small amount of time deposits of other banks, which a r e now included in "Inter-bank deposits". The item "Due to banks" shown heretofore in the statement included only demand balances of domestic banks. The item "Borrowings" represents funds received, on b i l l s payable and rediscounts, from the Federal Reserve banks and from other sources. Figures are shown also f o r "Capital account", "Other a s s e t s - net" and "Other l i a b i l i t i e s " . By "Other a s s e t s net" i s meant the aggregate of a l l a s s e t s not otherwise s p e c i f i e d , l e s s cash items reported as on hand or in process of collection which, as previously indicated, have been deducted from demand d e p o s i t s . Data by weeks since September 5» 193^» f o r a l l reporting member banks, f o r reporting banks in New York, and f o r those in other leading c i t i e s , corresponding with the f i g u r e s f o r the current week, w i l l be published i n the forthcoming issue of the Federal Reserve B u l l e t i n , ^ ' (B-gO%c) STATEMENT FOB THE PRESS For immediate r e l e a s e Board of Governors of the Federal Reserve System November 12, 1935 Condition of Weekly Reporting Member Banks i n 101 Leading C i t i e s The condition statement of weekly r e p o r t i n g member "banks i n 101 leading c i t i e s on November 6 shows an i n c r e a s e f o r the week of $48,000,000 i n t o t a l loans and i n vestments, a decrease of $40,000,000 in demand d e p o s i t s — a d j u s t e d , and an increase of $138,000,000 i n d e p o s i t "balances of domestic "banks. Loans to "brokers and d e a l e r s i n s e c u r i t i e s i n New York City increased $11,000,000 in the New York d i s t r i c t , $5,000,000 i n the P h i l a d e l p h i a d i s t r i c t and $17,000,000 a t a l l r e p o r t i n g member "banks; loans to brokers and dealers outside New York City increased $4,000,000; and loans on s e c u r i t i e s to o t h e r s (except "banks) increased $9,000,000 in the New York d i s t r i c t and $6,000,000 a t a l l r e p o r t ing member banks. Holdings of acceptances and commercial paper and of r e a l e s t a t e loans declined $3,000,000 and $4,000,000, r e s p e c t i v e l y ; loans to banks increased $6,000,000; and "Other loans" increased $23,000,000 in the New York d i s t r i c t , $7,000,000 in t h e Chicago d i s t r i c t and $40,000,000 a t a l l r e p o r t i n g member banks. Holdings of United S t a t e s Government d i r e c t o b l i g a t i o n s increased $67,000,000 i n tho New York d i s t r i c t and $59*000,000 a t a l l r e p o r t i n g member banks, and declined $10,000,000 in the P h i l a d e l p h i a d i s t r i c t ; holdings of o b l i g a t i o n s f u l l y guaranteed by the United S t a t e s Government increased $5,000,000; and holdings of "Other secur i t i e s " declined $75*000,000 i n the New York d i s t r i c t and $82,000,000 a t a l l r e p o r t i n g member banks. Demand d e p o s i t s — a d j u s t e d declined $45,000,000 i n the New York d i s t r i c t and $40,000,000 a t a l l r e p o r t i n g member banks, and increased $8,000,000 i n the Cleveland d i s t r i c t . Time d e p o s i t s declined $4,000,000, Deposit balances of other domest i c banks increased $67*000,000 i n the New York d i s t r i c t , $13,000,000 i n the Boston d i s t r i c t , $10,000,000 in the Richmond d i s t r i c t and $138,000,000 a t a l l r e p o r t i n g member banks, A summary of the 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 the r e p o r t i n g member banks, together with changes f o r the week and the year ended November 6, 1935* follows: November 6, 1935 ASSETS Loans and investments - t o t a l 20,426 Increase or cLeerease since Oct. 30, Nov. 7. 1934 1935 *48 +1,358 Loans to brokers and d e a l e r s : In New York City Outside New York City l o a n s on s e c u r i t i e s to o t h e r s (except banks) 796 156 +17 A +115 +2 2,081 +6 -204 Acceptances & commercial paper bought •Loans on r e a l e s t a t e Loans to banks Other loans 326 1,142 87 3*380 -3 -4 +6 +4o -154 -5 -38 +39 U. S. Gov* t d i r e c t o b l i g a t i o n s Obligations f u l l y guaranteed by U.S.Gov't Other s e c u r i t i e s 8,236 1,138 3*084 +59 +5 -82 +1,008 +535 +60 Reserve with F . R, banks Cash in v a u l t Due from domestic banks 4,641 349 2,263 +9 -1 +44 +1,506 * +39 +532 13.558 4*895 -40 -4 —l +2,297 +32 -368 5,362 372 +138 -1 LIABILITIES Demand deposits - a d j u s t e d Time deposits U. S . Government d e p o s i t s Inter-bank d e p o s i t s : Domestic banks Foreign banks Borrowings • —— +1,071 +249 : -5 ' (B-S04) STATEMENT FOR TEE PRESS For immediate r e l e a s e Board of Governors of the Federal Reserve System November 12, 1935 ASSETS AID LIABILITIES OF Y/23KLY REPORTING IBVS3H BA13CS IN CENTRAL RESERVE CITIES (In millions of d o l l a r s ) New York CiLty 1A35 1934 Nov. 6 [Oct. 30 Nov. 7 Chicago 1935 1934 Nov. 6 [Oct.30 Nov. 7 ASSETS Loans and investments - t o t a l 7,734 7,694 7,123 Loans to brokers and dealers: In New York City Outside New York City Loans on s e c u r i t i e s to others (except banks) 781 58 110 58 526 50 723 713 Acceptances & commercial paper bought Loans on r e a l e s t a t e Loans to banks Other loans 145 123 44 1,182 U. S. Gov't obligations Obligations f u l l y guaranteed by U. S. Gov't Other s e c u r i t i e s Reserve with F. R. bank Cash in v a u l t Due from domestic banks Other a s s e t s - net 1,794 1,798 1,525 23 23 27 19 781 153 154 176 147 123 4i 1,158 246 133 70 1,223 18 16 6 235 18 16 6 230 54 20 11 228 3,258 3,189 2,830 982 986 695 382 1,038 382 1,113 265 999 96 265 96 269 77 218 2,388 60 83 470 2,442 58 76 469 1,339 52 64 814 600 36 189 81 590 36 194 82 470 38 168 99 5,661 585 196 5,726 591 196 4,732 639 473 1,432 1,433 4io 412 62 62 1,182 380 29 2,173 34l 2,110 339 1,637 104 535 4 532 4 444 2 325 1,452 1 339 1,467 30 225 35 224 37 226 —— — LIABILITIES Demand deposits - a d j u s t e d Time deposits U. S. Gov't deposits Inter-bank deposits: Domestic banks Foreign banks Borrowings Other l i a b i l i t i e s Capital account • ~ ~ 321 1,458 (B-SQito) ASSETS AND LIABILITIES OF WEEKLY REP0RTI1IG MEMBER BABES III 101 LEAJDIHG CITIES Oil 1T0VEMBER 6, 1935 (in millions of dollars) • Total : =.11 • Boston districts Federal Reserve D i s t r i c t Hew P h i l a - Cleve- Rich- Atlanta Chicago S t . Minn- (Kansas Dallas San Francisco York delphia land mond Louis eapolisi City ASSETS Loans and investments - t o t a l Loans to brokers and dealers: In New York City Outside Hew York City Loans on s e c u r i t i e s to others (except banks) Acceptances and commercial paper bought Loans on r e a l e s t a t e Loans to banks Other loans U. S. Gov't d i r e c t obligations Obligations f u l l y guaranteed by U.S.Gov't Other s e c u r i t i e s Reserve with F. R. bank Cash in vault Due from domestic banks Other a s s e t s - net 20,426 1,146 8,599 1,098 796 156 4 23 782 60 6 13 2,081 326 1,142 87 3,330 8,236 1,138 3,os4 884 151 148 4l 240 87 45 3 282 1,320 375 3,487 4ll 19 161 1,222 4,64i 349 2,263 1,361 1,689 595 509 — «"*** 2,669 586 381 632 451 2,071 5 1 2 3 1 1 7 58 10 39 8 112 210 50 94 31 9 5 1 131 l4l 18 44 43 24 15 6 125 244 52 lis 4o 1 2i1 128 164 51 44 167 24 372 1 353 661 130 355 10 3 4 1 26 148 23 68 4 169 286 94 287 226 4 189 6 179 758 74 243 65 0 20 106 278 4o 77 49 5 21 1 143 175 38 73 219 31 65 11 332 1,457 l6l 366 251 2,460 74 93 134 172 82 538 192 15 157 95 271 30 215 110 115 lb 148 36 62 10 151 728 121 57 11 4 n 134 118 27 65 5 104 20 108 12 262 35 67 9 159 29 201 17 216 226 13,553 4,395 546 901 6,124 988 302 218 12 723 266 26 942 675 45 358 191 19 290 172 23 2,049 367 750 173 s6 10 267 120 8 445 146 10 314 122 19 778 990 70 5,362 372 233 2,238 8 342 296 3 30s 1 222 197 1 358 —— 179 1 25s 10 5 75 305 320 — »• % LIABILITIES Demand deposits - adjusted Time deposits U. S. Gov't deposits I n t e r - b a n k deposits: Domestic banks Foreign banks Borrowings Other l i a b i l i t i e s Capital account — 793 3,514 —— —— 20 335 230 1,593 — —— 20 223 15 329 31 39 11 53 718 5 23S W — 34 341 10 81 117 1 —1 • 5 57 * — 2 88 (B~804b)
@FedFRASER