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STATEMENT FOR THE PRESS Released for publication s t . 1603 F e d e r a l R e s e r v e Board, Monday m o r n i n g , Nov, 29; November 27, 1920. not e a r l i e r CONDITION OF MEMBER BANKS IN LEADING CITIES. A g g r e g a t e a d d i t i o n s of 72 m i l l i o n s to the h o l d i n g s of Government o b l i g a t i o n s l a r g e l y i n c o n n e c t i o n w i t h t h e i s s u a n c e on November 15 of 232 m i l l i o n s of l o a n c e r t i f i c a t e s , accompanied by f u r t h e r l i q u i d a t i o n of l o a n s a n d o t h e r i n v e s t m e n t s , a r e i n d i c a t e d i n t h e -Federal R e s e r v e B o a r d ' s weekly s t a t e m e n t of c o n d i t i o n on November 19 of 824 member banks i n l e a d i n g c i t i e s . H o l d i n g s of U n i t e d S t a t e s b o n d s and V i c t o r y n o t e s show an in-_ c r e a s e of 4 . 6 m i l l i o n s f o r t h e week, w h i l e t h o s e of 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 6 7 . 3 m i l l i o n s . As a g a i n s t t h e s e i n c r e a s e s , 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 , show a r e d a c t i o n of l 4 . S m i l l i o n s , l o a n s s e c u r e d by c o r p o r a t e s t o c k s and bonds - a r e d u c t i o n of a b o u t 7 m i l l i o n s and a l l o t h e r l o a n s and i n v e s t m e n t s , composed l a r g e l y of commercial l o a n s a n d d i s c o u n t s , a r e d u c t i o n of 8 8 . 3 m i l l i o n s . As a c o n s e q u e n c e , t o t a l l o a n s a n d i n v e s t m e n t s of t h e r e p o r t i n g b a n k s a r e 38*1 m i l l i o n s s m a l l e r t h a n on t h e p r e c e d i n g F r i d a y . The w e e k ' s c h a n g e s i n t h e h o l d i n g s of t h e member b a n k s i n New York C i t y a r e a s f o l l o w s : 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 d e c l i n e d by a b o u t 3 m i l l i o n s a n d 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 4 o , 7 m i l l i o n s , w h i l e 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 d e c r e a s e d by 1 6 . 8 m i l l i o n s , 109ns s e c u r e d by c o r p o r a t e s t o c k s a n d bonds - b y 2 0 . 6 m i l l i o n s , and a l l o t h e r l o a n s and i n v e s t m e n t s - by 3 2 . 9 m i l l i o n s , t h e a g g r e g a t e d e c l i n e i n t o t a l l o a n s and i n v e s t ments of t h e New York b a n k s b e i n g 3 2 . 6 m i l l i o n s . Accommodation of a l l 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, a s shown on t h e books of the l a t e r , d e c l i n e d f r o m 2 , 2 2 8 . 3 t o 2 , 1 1 9 . 3 m i l l i o n s , w h i l e t h e accommodation of New York C i t y banks a t t h e l o c a l R e s e r v e Bank, d e c l i n e d from 8 8 1 . 6 t o S 0 6 . 1 m i l l i o n s . Government d e p o s i t s show an i n c r e a s e of 1 4 3 . 7 m i l l i o n s , which may be compared w i t h an i n c r e a s e of 6 7 , 3 m i l l i o n s i n T r e a s u r y c e r t i f i c a t e h o l d i n g s of t h e r e p o r t i n g b a n k s , t h e l a r g e r i n c r e a s e i n Government d e p o s i t s b e i n g t r a c e a b l e t o payments f o r c e r t i f i c a t e s by p r i v a t e i n v e s t o r s . O t h e r demand d e p o s i t s ( n e t ) show a d e c l i n e of 129*6 m i l l i o n s , and time d e p o s i t s - a d e c l i n e of 23>9 m i l l i o n s . For t h e New York banks t h e r e may b e n o t e d an i n c r e a s e of 6 4 . 7 m i l l i o n s i n Government d e p o s i t s , accompanied by a r e d u c t i o n of 3 4 . 5 m i l l i o n s i n o t h e r demand d e p o s i t s and of 2 . 5 m i l l i o n s i n time d e p o s i t s . R e s e r v e b a l a n c e s of the r e p o r t i n g b a n k s show a r e d u c t i o n f o r t h e week of 25-9 m i l l i o n s , i n k e e p i n g w i t h t h e d e c l i n e i n demand d e p o s i t s , and c a s h i n v a u l t d e c r e a s e d by 5 - 3 m i l l i o n s . For New York C i t y b a n k s d e c l i n e s o f 2 3 . 2 m i l l i o n s i n r e s e r v e b a l a n c e s and of 0 . 4 m i l l i o n i n c a s h a r e shown. Be l e a s e d f o r p u b l i c a t i o n Monday morning, -Tovanber 29, 19-0, n o ^ e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER TANKS IN LEADING CITIES (Anoiir.ts i n t h o u s a n d s of d o l l a r s ) ~~ ~ Nov. 19, 1920 Nov. 12, 1920 Number of r e p o r t i n g banks - - - - - - - - - - - - - - - - - - - - - - - - ^4 825 St.Ib03 a. May 21, 1920 8l4 Nov. 21, 1919 79U - - - - - - - - - - - - - - - - - 269,707 269,683 270,293 269,073 Other U. S - ' bonds i n c l u d i n g L i b e r t y bonds - - - - - - - - - - - - - - - - - - 6l4,742 610,356 603,639 634,368 195,496 195,217 203,102 275,522 635.270 821.016 1,353,310 1,712,304 1,999,979 908,702 3,049,018 H . 432.304 1,056,016 3,123,514 i i .520, 0 4 7 b. 4 i q 11, (a) 1 , 0 6 0 , 2 1 6 3 , 2 2 0 937 (a) q . 1 8 2 . 4 1 6 16,793, 574 16,831,672 16,939,253 16,143,094 R e s e r v e b a l a n c e w i t h F.R.Bank - - - - - - - - - - - - - - - - - - - - - - - - 1,3^3,951 1,3^9,928 I,410,761 I,409,113 Cash i n v a u l t - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 37 8 , 2 2 U 383,538 368,332 386,046 10,992,273 11,121,9^5 II,506,283 II,343,085 2,786,045 2,809,9^0 2,643,342 2,288,186 Government d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 173,2l6 29,525 115,113 231,7or 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: Secured by U. S- war o b l i g a t i o n s All other 633,782 1 '988 , i 1,^3» 870,993) 1,055) 1,054,532 250,056 1,233^28 257,007 1,320,984 295,882) 891,283) 679,546 U. S . bonds t o s e c u r e c i r c u l a t i o n - - - - - U. S . V i c t o r y n o t e s - - - - - - - - - - - - - - - - - - - - - - - - - - - - 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 o t a l U. S. s e c u r i t i e s - - - - - - - - - - - - - - — — - - - - - - - - - - - - - - - - - - - - - - - - _ _ _ _ _ _ _ 3^5, 402— 1,425,3^7 Loans and i n v e s t m e 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. Bank: Loans s e c u r e d by U. S . war o b l i g a t i o n s _ _ _ _ _ _ _ _ _ _ _ _ — 893,912 Loans s e c u r e d by s t o c k s and bonds o t h e r t h a n U. S . s e c u r i t i e s 3*042,011 A l l e t h e r l o a n s and inve stznsnts — — — — — — — — — — — - — — — — — — — — — — T o t a l l o a n s and i n v e s t m e 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.Bank Net demand d e p o s i t s Tine d e p o s i t s • B i l l s r e d ! s c o r n t e d w i t h F e d e r a l Reserve Bank: Secured by U. S- war o b l i g a t i o n s .All otter r - — - - _ _ _ _ R a t i o of U.S.war s e c u r i t i e s and war loan p a p e r t o t o t a l l o a n s and i n v e s t m e n t s , i n c l u d i n g recli 3 c o u n t s w i t h F e d e r a l Reserve Bank, p e r c e n t - - — 12 «2 27 8 , 0 5 4 11.8 ( a ) E x c l u s i v e of . „ rediscounts with 1 7 p . p . Ban?is. ^ p l e a s e d f o r p u b l i c a t i o n Monday m o r n i n g , November 29, 1920; n o t e a r l i e r . St . 1603 D ' PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS NOVEMBER 19, 1920 (Amounts i n t h o u s a n d s of d o l l a r s ) s . C y . D a l l a s San F r a n . Total F e d e r a l Reserve D i s t r i c t Boston New York P h i l a . C l e v e l . Richm. A t l a n t a Chicago S t . L o u i s Minn. S3 5 1 68 824 108 38 80 35 115 59 93 Number r e p o r t i n g b a n k s U. S . bonds t o s e c u r e 7,371 21, 5%8 16,422 14, 580 4 2 , 4 4 o 28,958 11,347 12,610 4 7 > H59 r circulation L t i t h e r U. S . bonds i n c l u d i n g 61,620 33,903 28,002 5%, 395 1 3 , 5 7 7 10,073 1 9 , 8 0 1 249,924 30,19% L i b e r t y bonds 1,058 2,721 3 8,408 84,256 3 , 9 6 0 6,75% 19,389 9,791 U. S . V i c t o r y n o t e s 5,850 U . S . C e r t i f i c a t e s of 1,636 %,687 52.154 6.754 7.822 16.953 179,229 16,923 indebtedness 19.911 2 0,138 3 7 , 4 0 7 1 6 6 , 5 0 5 l 4 o , 4 o 2 53,296 68,255 77,437 T o t a l U. S . s e c u r i t i e s 58,172 5 6 0 , 8 6 8 Loans and i n v e s t m e n t s i n c l u d ing b i l l s rediscounted with 'BUMS EtBiEEEE Total loans & investments withUFJi! B m k S C O m t S 1 , 1 1 0 , 9 U 1 6 , 2 6 8 , 6 3 3 9%l,%88 1 , 5 1 3 , 2 7 9 609,636 5 5 7 , 8 7 4 2 , 4 7 0 , 0 6 1 593,158 3 6 9 , 0 0 9 6 7 8 , 8 4 9 3 5 9 , 7 8 5 l - , 3 2 0 , 8 6 l 1 6 , 7 9 3 . 5 7 4 ' R e s e r v e b a l a n c e w i t h F.R.Bank 80,221 629,783 71,6o6 101,668 3%,826 27,900 182,324 40,303 20,567 48,364 24,345 82,044 i Cash i n v a u l t 25,369 124,452 19,633 38,320 18,295 13,44i 66,563 9,584 9,408 14,681 11,640 26,808 1,3%3,951 378,224 j ' Net demand d e p o s i t s 7 9 7 , 3 1 3 4 , 8 7 6 , 9 ^ 685,316 9%l,389 3 3 5 , 3 1 8 245,737 1 , 3 4 8 , 2 4 4 304,857 190,272 4 0 0 , 3 7 3 2 2 1 , 4 7 4 645,o4o 1 0 , 9 9 2 , 2 7 3 j I Sirne d e p o s i t s 133,107 452,475 39,564 3 8 6 , 4 1 } 107,955 150,704 57,638 522,33% 2,786,04$ j 13,524 75,664 11,54l 24,75% 2, 818 1,257 18,893 6,500 2,766 1,605 11,724 173,2l6 26,942 - 309,913 %7,646 18,956 36 30,0l4 510 31,572 668 83,524 - 22,704 - 5,5l6 564 18,864 i 6 , l 4 4 25. - 21,987 185 03,782 1,988 ^government d e p o s i t s r ^Sec.by^U^stwarObligations All other ilHEF" ijirlll a s 6 3 9 , 1 8 4 128,042 6 8 , 5 5 3 100,076 2,170 , $ g A S K S 4 8 «•"' * « T?:S AM i S JUS R e l e a s e d f o r - p u b l i c a t i o n Monday morning, November 29, 1920; n o t e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING 'UMBER BANES IN F . R. BANK.AND (Amounts i n t h o u s a n d s of d o l l a r s ) -&11 ( New York C i t y C i t y o f Chicago Bank Nov. 19 Nov. 12 Nov- 19 Nov. 12 Nov. 19 Number of r e p o r t i n g banks 72 72 51 51 287 U . S . bonds t o s e c u r e c i r c u l a t i o n 37,862 37,862 1,4-38 1,439 96,53% Other U.S. bonds, i n c l u d i n g L i b e r t y bonds 217,399 220,392 18,023 17,223 342,777 u~ s . V i c t o r y n o t e s 74,628 74,600 11,807 11,491 107,076 U. S . C e r t i f i c a t e s o f i n d e b t e d n e s s 163.286 122.620 19,029 16.540 233,261 Total J . s . s e c u r i t i e s %93,175 50,297 46,693 779,648 I o s n c and i n v e s t m e n t s i n c l u d i n g b i l l s r e d l s u c u n t e d w i t h F- E . Bank: l o a n s s e c u r e d by u . s . w a r o b l i g a t i o n s 39%,723 4ii,494 65,076 63,110 662,434 l o r n - s e c u r e d by s t o c k s and bonds 1,091,195 1,111,751 340,590 332,762 2,134,242 - A l l ol-her l o a n s and i n v e s t m e n t s 3,563.401 3,596.333 l , 0 4 l . l b 2 1,051.243 7.303,322 i n g r e d i s c o u n t s w i t h F.R .Bank 5,542,494 5,575,052 St.l603c. BRANCH CITIES AND ALL OTHER REPORTING *BANKS*. F.R. cities Nov. 12 287 96,5% 3%2,4ll 106,369 178.504 723,829 F.R. Branch c i t i e s Nov. 19 Nov. 12 208 208 72,362 • 72,350 150,933 147,891 52,685 52,473 67.900 58.828 343,880 331,542 678,103 135,732 134,773 2,l40,134 493,497 488,018 7.356.608 2.262.311 2.290.826 95,746 95,826 4l4,272 420,866 1.866.671 1.873,208 1 , 4 9 7 , 1 2 5 1 , 4 9 3 , 8 0 8 10,879,646 1 0 , 8 9 8 , 6 7 4 3 , 2 3 5 > 2 0 3 , 2 4 5 , 1 5 9 2,678,508 2,687,839 R e s e r v e balance w i t h F . R. Bank 539,^53 612,731 131,392 131,562 987,760 Cash i n v a u l t 110,443 . 110,811 33,590 39,750 217,194 4,392,760 4,427,331 932,126 942,034 7,670,753 7,753,436 1,752,810 1,765,002 Net demand d e p o s i t s All other r e p o r t i n g banks Nov. 19 Nov. 12 329 330 100,811 100 788 121,032 120* 054 35,735 36*375 44.24-1 4q.722 301,019 297,939 1,014,755 • 219, 822 203,109 200,314 153,082 154,859 74,561 75,936 86,469 87,780 1 , 5 6 8 , 7 1 0 1,603,507 312,137 314,550 297,165 29%,757 1,287,948 1,280,977 913,469 916,539 584,628 612,374 72,744 8,022 10,682 1,172 132,015 13,193 29,245 8,034 11,956 3,29s B i l l s p a y a b l e w i t h F . R. Bank: Sec"r-3d by U . S . war o b l i g a t i o n s All other 275,092 278,59% 25,340 23,713 4i6,867 418,217 129,729 878 140,571 1,452 87,186 1,110 89,558 4 86 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 . war o b l i g a t i o n s All other 128,782 402,225 136, 506 466,514 8,932 171,99% 6,854 178,322 207,597 898,175 213,776 972,923 29,285 173,512 29,595 181,606 13.17U 161,741 13,636 166,455 14.8 7.6 7.3 12.4 11.1 10.9 Time d e p o s i t s Government d e p o s i t s Rat£c of U. SAvar s e c u r i t i e s and war l o a n p&pt.-r to t o t a l l o s r . s and i n v e s t m e n t s , i n c l u d i n g r e d i s c o u n t s w i t h F . R . B k . , p e r c e n t 15-3 • 12.0 12.6 12.1
@FedFRASER