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STATEMENT FOR THE PRESS Released f o r p u b l i c a t i o n Monday m o r n i n g , Nov. 8; not e a r l i e r . st.1551. F e d e r a l R e s e r v e Board, November 6, 1920. CONDITION OF MEMBER BANKS IN LEADING CITIES Continued l i q u i d a t i o n o f l o a n s and i n v e s t m e n t s , l a r g e l y o f commercial d i s c o u n t s , and c o r r e s p o n d i n g r e d u c t i o n s i n d e mand d e p o s i t s a r e i n d i c a t e d i n t h e F e d e r a l R e s e r v e B o a r d ' s s t a t e m e n t of c o n d i t i o n on October 29 of 823 member "banks i n leading c i t i e s . The s t a t e m e n t a l s o shows c o n s i d e r a b l e w i t h d r a w a l s of Government f u n d s and s u b s t a n t i a l l y i n c r e a s e d b o r r o w i n g s from t h e F e d e r a l R e s e r v e Banks. L i t t l e change i s shown i n t h e h o l d i n g s o f 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 , w h i l e T r e a s u r y c e r t i f i c a t e s h e l d show a f u r t h e r r e d u c t i o n of 1 8 . 9 m i l l i o n s - Loans s e c u r e d by Government war o b l i g a t i o n s show a d e c l i n e q f 2 .9 m i l l i o n s f o r t h e week, t h e c o r r e s p o n d i n g d e c l i n e f o r t h e New York C i t y members b e i n g 1 2 , 4 m i l l i o n s • Loans 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, on t h e o t h e r hand, show an i n c r e a s e of 3 6 . 1 m i l l i o n s f o r a l l r e p o r t i n g banks and of 4 4 . 1 m i l l i o n s f o r the r e p o r t i n g banks i n New York C i t y . The l a r g e s t volume of l i q u i d a t i o n a p p e a r s u n d e r t h e c a p t i o n " 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 c h i e f l y of commercial d i s c o u n t s . For a l l r e p o r t i n g banks t h i s i t e m i s shown a b o u t 98 m i l l i o n s s m a l l e r and f o r t h e New York C i t y b a n k s - a b o u t 7 9 - 1 m i l l i o n s s m a l l e r t h a n t h e week b e f o r e . As a consequence of t h e s e c h a n g e s , t h e b a n k s ' t o t a l l o a n s and i n v e s t m e n t s show a r e d u c t i o n f o r t h e week of 8 5 - 5 m i l l i o n s (57 -2 m i l l i o n s f o r t h e member b a n k s i n New York City). Accommodation of 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 t h e l a t t e r , i n c r e a s e d d u r i n g t h e week from 2 , 2 0 3 J t o 2 , 2 4 4 . 3 m i l l i o n s , or f r c m 12-9 t o 13-2 p e r c e n t o f t h e b a n k s ' 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 New York C i t y members a n i n c r e a s e i n accommodation a t the l o c a l F e d e r a l Reserve Bank from 8 5 6 . 1 t o 881-7 m i l l i o n s and a r i s e i n t h e r a t i o of accommodation"from l 4 - 9 t o 15*5 p e r c e n t a r e shown. Net w i t h d r a w a l s of Government f u n d s t o t a l e d 71 • ! m i l l i o n s , t h e New York banks a l o n e r e p o r t i n g a r e d u c t i o n of Government d e p o s i t s by 4 l « 7 m i l l i o n s . Other demand d e p o s i t s ( n e t ) d e c l i n e d by a b o u t 75 m i l l i o n s f o r a l l r e p o r t i n g banks, w h i l e t h e New York members r e p o r t e d a d e c r e a s e of 7*4 m i l l i o n s u n d e r t h i s h e a d . Time d e p o s i t s f e l l o f f by 9 - 4 m i l l i o n s , t h e r e d u c t i o n f o r New York C i t y banks a l o n e b e i n g 17 >7 m i l l i o n s . R e s e r v e b a l a n c e s w i t h t h e F e d e r a l R e s e r v e Banks were a b o u t 32 m i l l i o n s l a r g e r t h a n t h e week b e f o r e , t h e i n c r e a s e f o r t h e r e p o r t i n g banks i n New York C i t y , which showed a d e f i c i e n c y i n r e s e r v e s on the p r e v i o u s F r i d a y , b e i n g a b o u t 36 m i l l i o n s . Cash i n v a u l t shows a f u r t h e r d e c l i n e by 1 0 . 5 m i l l i o n s , 3*4 m i l l i o n s of w h i c h i s shown f o r t h e member banks i n New York C i t y , ...eased f o r p u b l i c a t i o n Monday morning, November 8, 1920; n o t e a r l i e r . PRINCIPAL RESOURCE M B LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING CITIES (Amounts i n t h o u s a n d s of d o l l a r s ) O c t . 29, 1920 O c t . 2 2 / 1920 Number of r e p o r t i n g b a n k s - - - - - - - - - - - - - - - - - - - - - - - - 823 823 51a. Apr. 3 0 , 1 9 2 0 812 784 U, S. bonds tp s e c u r e c i r c u l a t i o n _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 263,851 268,668 270,061 268,612 0 cher U. S- bonds i n c l u d i n g L i b e r t y bonds 607,386 609,349 598,364 636,066 - - 193,386 193,3^9 203,858 298,637 - - - - - - - - - - - - - - - - - - - - - 2A4.qq3 313.872 60S,363 904.621 1,364,616 1.3S5.23S 1,680,646 2,107,938 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 _ _ _ _ _ _ Loans s e c u r e d by s t o c k s and bonds o t h e r than U. S. s e c u r i t i e s - - - - - - All other loans and investments - - - - - - - - - - - - - - - - - - - - - - 911,542 3,141,976 11,599,276 914,407 3,105,903 11,697,312 1,077,538 3,170,316 10,964.580 (a)l,234,057 3,246,059 (a)9,023.666 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.S.Bank - - - 17.017.4i6 17,102,850 16,893,080 16,115,200 1,365,222 1,333,215 1,415,145 1,403,171 377 ,491 355,372 358,771 11,240,588 11,450,744 11,284,902 2,814,559 2,619,027 * 2,194,156 151,849 150,136 355,360 674,652 2,705 889,345) 4,851) 1,194,489 254,915 317,420) qph 7 x n 503,480 " »i-> ' ( a ) E x c l u s i v e of -.h 7 rediscounts with ' F . R. Banks. r J. 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 - - - - - - - - - _•___ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - R e s e r v e b a l a n c e w i t h F . R. Bank - - - - - - - - - - - - - - - - - - - - - - - Cash i n v a u l t - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 366,997 Net demand d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 11,165,647 Time d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2,805,247 Government d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 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 e c u r e d by U. S, war o b l i g a t i o n s _ _ _ _ _ - - - - - - - - - - - - - All other _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ B i l l s r e d i s c o u n t e d w i t h F e d e r a l R e s e r v e Bank: S e c u r e d by U. S . war o b l i g a t i o n s - - - All other - - - - - - - - - - - - - - - - - - - - _ _ R a t i o of U.S.war s e c u r i t i e s and war l o a n paper to t o t a l l o a n 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 e d e r a l Reserve Bank, p e r c e n t - - - - - - - _ _ _ - - - - and investments, - - - - - - - - 80,731 672,669 2,l4o 256,675 1,312,77s 11.8 1,271,424 11.9 ^ 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 , N o v e m b e r 8 , 1920; n o t e a r l i e r . St.1551b, PRINCIPAL RESOURCE M D LIABILITY ITEMS OF ALL REPORTING IffiMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS OCTOBER*29, 1920-. (Amounts i n t h o u s a n d s of d o l l a r s ) Federal Reserve D i s t r i c t B o s t o n New York P h i l a . C l e v e l . Richm. A t l a n t a aicago S t . L o u i s Minn. K a n s . C y . D a l l a s San F r a n . Total Kuriber r e p o r t i n g b a n k s 48 115 81 92 59 46 108 35 37 S3 51 68 . 823 U, S. b o n d s t o s e c u r e circulation 12,610 46,663 11,347 4 2 , 4 0 0 28,908 14,455 21,552 16,623 7 , 3 7 1 14,701 19,573 32,648 268,851 • O t h e r U, S. bonds i n c l u d i n g ™* L i b e r t y bonds 19,425 248,439 30,122 61,179 3 3 , 4 5 3 28,080 5!;313 13,533 9 , 8 7 7 2 3 , 7 4 2 22,451 65,772 6 0 7 , 3 8 6 U. S. V i c t o r y n o t e s 5,838 83,500 9,218 19,064 '6,887 4,019 38,574 2,705 1,069 5,097 3,076 14,339 193,386 U . S. C e r t i f i c a t e s of indebtedness 15.526 147.242 14.014 7.118 6.624 51.275 3,695 1.923 6 . 8 0 3 4.980 22.019 ^4.991 Total U.S. s e c u r i t i e s 6 4 , 4 6 i 525,844 53,399 136,657 7 6 , 3 6 6 5 3 , 1 7 8 uo.oft 1^0,05/ 53,17s 162,714 36,556 20,240 50,343 50,080 134,778 1,364,616 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 F . R . Bank: Loans s e c . b y U.S.war oblig. 46,982 438,565 76,945 69,478 30,024 31,423 9 5 . ^ 1 3 2 , 2 ) 2 16,569 2 9 , 3 8 1 1 0 , 2 8 4 34,224 911 548 < Loans s e c . b y s t o c k s & bonds 197,680 1 , 3 5 9 , 1 0 0 212,864, 327,329 1 0 8 , 7 4 ? 58,802 449,315 1 2 7 , 4 4 2 30,983 8 2 , 0 0 0 40,637 1 4 7 , 0 7 7 3 , 1 4 1 976 All other loans&investments 81,6,725 4 , 0 8 7 . 3 1 4 588,l6l 9 8 3 . 6 4 4 4 0 3 . 2 9 3 4 2 5 . 4 3 7 1 . 8 0 0 . 4 5 9 4 0 7 . 3 9 2 295.941 5 2 8 . 3 9 5 267.757 9 9 1 . 7 5 8 ll.qqq.276 T o t a l l o a n s and i n v e s t m e n t s r including rediscounts w i t h F . R . Bank' 1 , 1 1 4 , 7 8 6 6 , 4 1 0 , 8 2 3 942,431 1,517.108 618,430 568,840 2,507,929 603,622 366,733 690,119 368,75s 1,307,837 1 7 , 0 1 7 , 4 1 6 Reserve b a l a n c e w i t h 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 ' M i l s p a y a b l e w i t h F.R.Bank: ' J B e c . b y U.S.war o b l i g a t i o n s All other 84,018 65,512 116,776 18,719 832,298 4,993,980 684,743 162,445 458,556 3 9 , 2 4 4 7,649 30,900 10,363 24,796 23,038 B i l l s r e d i s c o u n t e d w i t h F.R.Barik: S a c . b y U.S.war o b l i g a t i o n s 13,062 All other 52,354 645,594 347,740 138,629 459,879 42,482 35,765 35,799 104,159 3 6 , 7 0 0 36,088 17,570 950,397 339,698 382,012 1 0 7 , 6 4 4 10,522 1 , 4 2 2 18,996 26,583 600 36 10,613 38,505 4,607 44,924 20,185 4 1 , 7 6 2 24,539 14,507 65,223 9,813 9,258 1 5 , 7 5 5 12,054 246,026 1,370,439 298,192 196,702 385,369 224,172 148,183 634,764 129,235 6 8 , 7 3 3 9 8 , 2 1 3 5 6 , 3 0 2 96s 2,045 492 2,238 1,196 8,773 32,052 32,145 721 10,735 76,756 189,752 81,132 37,336 21,688 5,751 433 24,130 265 16,511 8 , 7 6 1 2,637 8 , 4 3 1 270,132 84,090 65,742 83,689 83,613 1,365,222 26,438 366,997 643,581 1 1 , 1 6 5 , 6 4 7 5 1 9 , 9 1 6 2,805,247 4,163 80,731 19,306 29,678 672,669 2,037 29,133 4,887 71,775 256,675 1.312,778 85 2,140 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 g\ 1$20; n o t e a t t i e r . '' ' St 1551c - • PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN F . R, BANK AND BRANCH CITIES AND ALL OTHER REPORTING BANKS —V— —(Amounts i n thousands of d o l l a r s ' ) .> .. Number of r e p o r t i V ^ s rw ^ 72 n ^ y oo 72* I Tfo t ael U. IS„ sSe c u r S — . - 1 1 1 1 ities o ^ y °S % ^ m -M • H I 46,824 Chicag0 22 i i 1 • A l l F . -R« cities Oct 29 O c t . 22 Bank 1 1 1 1 AOj.tdU 728,645 F . R. Branch c i t i e s Oct 29 O c t . 22 m # .135 #41.787 #43,240 05.78b 460,020 469,759 47,384 746,528 337,158 338,824 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 4io,6o4 422,995 63,208 59,426 679,322 682,992 1 3 7 , 6 3 4 137,472 Loans s e c u r e d by s t o c k s a n d bonds 1,206,323 1,162,316 335,124 337,961 2,237,960 2 , 1 9 5 , 6 8 3 489,643 498,137 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 3 , 6 0 3 . 4 9 6 1.682,640 1 , 0 6 3 , 6 4 3 1,075.9*52 7 . 3 9 1 . 2 6 4 7 , 4 9 8 , 8 2 1 2 . 3 1 0 . 4 4 8 2 . 3 06.135 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 r e d i s c o u n t s w i t h F.R.Bank 5 , 6 8 0 , 5 0 3 5,737,710 1,508,859 1 , 5 2 0 , 7 2 3 1 1 , 0 3 7 , 1 9 1 1 1 , 1 2 4 , 0 2 4 3 , 2 7 4 , 8 8 3 3 , 2 8 0 , 5 6 8 R e s e r v e b a l a n c e w i t h F . 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 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.war o b l i g a t i o n s All other B i l l s r e d i s c o u n t e d w i t h F.P.Bank: S e c u r e d by U.S.war o b l i g a t i o n s All other 603,722 567,804 102,819 106,200. 4,506,067 4,513,490 • 206,867 203,194 155,283 37,647 38,818 208,6l6 214,664 72,043 74,395 86,338 942,140 948,855 316,266 321,429 24,236 4,202 7,862,936 292,807 1 , 2 8 5 , 9 1 4 1,302,706 6,538 116,318 56,996 25,266 — R a t i o of U. S. war s e c u r i t i e s and war l o a n p a p e r to t o t a l l o a n s and i n v e s t m e n t s , i n eluding r e d i s c o u n t s with F.R.Bk,.percent 14.7 974,601 28,560 136,984 397,690 14.9 2,705,342 2,698,268 1,003,072 8,967 191,100 9,412 197,571 7-2 6-9 7,823,307 451,568 - 211,550 956,691 11.9 461,075 800 210,236 919,308 12.0 1,749,785 1,767,489 299,886 94,592 93,943 4I4,373 412,083 1 ZQ7 sAL 1 £QO 134,785 291,110 135,476 429,265 298,813 135,153 335,907 70,293 318,231 All other r e p o r t i n g banks O c t . 29 O c t , 22 155,420 88,432 1 , 5 9 2 , 5 5 5 1,610,163 609,697 603,435 909,636 908,418 17,053 24,742 6,682 10,789 137,166 1,071 131,360 1,336 83,935 22,217 32,152 186,896 32,071 187,266 12.3 12-3 1,069 12,973 169,191 10-8 569 12,60s 164,350 10.9
@FedFRASER