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STATEMENT FOR THE PRESS Released f o r p u b l i c a t i o n Monday morning, Oct. 25, 1920; not e a r l i e r . st.1519 Federal Reserve Board October 23, 1920. CONDITION OF MEMBER BANKS IN LEADING CITIES. Heavy Government o p e r a t i o n s i n connection w i t h the redemption and issuance of Treasury c e r t i f i c a t e s and the payment of semi-annual i n t e r e s t on t h e 4 t h L i b e r t y bonds, a l s o the r e t i r e m e n t of the AngloFrench bonds, account l a r g e l y f o r the p r i n c i p a l chan fa es i n the cond i t i o n on October 15 of 822 member banks i n l e a d i n g c i t i e s . App a r e n t l y in connection with the l a t t e r o p e r a t i o n and the new f i n a n c ing of the week a c o n s i d e r a b l e i n c r e a s e i n l o a n s supported by c o r p o r a t e s e c u r i t i e s i s seen, Demand d e p o s i t s show the u n u s u a l l y l a r g e i n c r e a s e f o r the week of 260.7 m i l l i o n s , t h i s i n c r e a s e r e p r e s e n t i n g i n p a r t t r a n s f e r s of d e p o s i t c r e d i t s from Government to i n d i v i d u a l account, d e p o s i t s of funds r e c e i v e d i n payment of matured home and f o r e i g n Government o b l i g a t i o n s , a l s o a d d i t i o n a l c r e d i t s to d e p o s i t account g r a n t e d to borrowers on c o r p o r a t e s e c u r i t i e s . Treasury c e r t i f i c a t e h o l d i n g s show an i n c r e a s e f o r t h e week of about 44 m i l l i o n s , of which 9*4 m i l l i o n s r e p r e s e n t s the i n c r e a s e f o r t h e member banks i n New York C i t y . Holdings of other Government s e c u r i t i e s , i n c l u d i n g L i b e r t y bonds and V i c t o r y n o t e s show but nominal changes. Loans secured by Government o b l i g a t i o n s d e c l i n e d 1 3 . 2 mill i o n s ( 6 , 2 m i l l i o n s in New York C i t y ) , while l o a n s supported by c o r p o r a t e stocks and bonds show an i n c r e a s e of "Jl-1 m i l l i o n s , mainly i n New York C i t y . Other l o a n s and-investments, composed l a r g e l y of commercial l o a n s and d i s c o u n t s , f o r the f i r s t time since May 21 of the p r e s e n t y e a r , show a s l i g h t r e d u c t i o n . ^ A s ^ ^ r e g ^ ^ g f the above changes i n the l e a d i n g a s s e t s t o t a l loans/snow an i n c r e a s e f o r the week of 95*4 m i l l i o n s . For the New York C i t y member banks an i n c r e a s e under t h i s head of 3^*3 m i l l i o n s i s n o t e d , Accommodation of r e p o r t i n g banks a t the Federal Reserve Banks, as shown on t h e books of the l a t t e r , shows a small d e c l i n e from about 2,250 to 2,248-9 m i l l i o n s , c o n s t i t u t i n g about 13 per cent of the banks' t o t a l l o a n s and investments, compared w i t h 13,1 per cent on t h e p r e c e d i n g F r i d a y . For the New York City banks a s l i g h t i n c r e a s e under t h i s head from 846,3 to 848.3 m i l l i o n s i s shown, l e a v i n g t h e r a t i o of accommodation a t the Federal Reserve Bank unchanged a t 1 4 . 6 p e r c e n t . Government d e p o s i t s a t a l l r e p o r t i n g banks show a r e d u c t i o n of 58,7 m i l l i o n s , while other demand d e p o s i t s ( n e t ) went up 260.7 m i l l i o n s and time d e p o s i t s - 1 2 . 1 million's. For the New York C i t y banks a r e d u c t i o n of 65.3 m i l l i o n s in Government d e p o s i t s and i n creases of 120,4 m i l l i o n s i n other demand d e p o s i t s and of about 11 m i l l i o n s i n time d e p o s i t s a r e shown. Reserve b a l a n c e s of a l l r e p o r t i n g . i n s t i t u t i o n s , i n accordance with the l a r g e i n c r e a s e in demand d e p o s i t s , i n c r e a s e d by 37*4 m i l l i o n s , the i n c r e a s e i n New York City being, 11.7 m i l l i o n s . Cash in v a u l t shows a gain f o r the week of 4 . 6 m i l l i o n s , of which l e s s t h a n one m i l l i o n r e p r e s e n t s the g a i n of the New York City banks. '^Released f o r p u b l i c a t i o n Monday morning, October 25, 1920; n o t e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING- CITIES — — —— (Amounts i n thousands of d o l l a r s ) Number of r e p o r t i n g banks — — — — — - — oci2 U . S. bonds to secure c i r c u l a t i o n ; 822 268,980 268,576 Other U. S. bonds i n c l u d i n g L i b e r t y bonds ^ 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 B. S. s e c u r i t i e s Loans and inves tm ents, 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 secured by U. S . wax o b l i g a t i o n s * l o a n s 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 o t h e r loans and i n v e s t m e n t s - - — _ _ _ _ _ _ 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 S e s e r v e balance w i t h F . B. Bank Cash i n v a u l t ITet 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 payable 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 other 190,095 361.751 , 317. 84Q l.Uy.SS? 1,386,963 q? , i 07f- Q x U 7?? \>%i 11,768,120 17,283 , 996 t 3»091,151 11- 773.556 17 188 6o4 1,1.22,082 l ^ M s o 3S1,114 376, U70 ll.%72.92k 11,212.230 2,808,303 2.796.176 1 8 g>I 247,136 rC„ 6 6 - 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 Reserve Bank: Secured by U. S. war o b l i g a t i o n s AH o t h e r Mf3 4,339 680,903 3,445 , : : : : : : : r R a t i o of U. S-war s e c u r i t i e s and war lc$n paper to t o t a l l o a n s and i n v e s t ments, 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-BJank, p e r cent — ~ - — — http://fraser.stlouisfed.org/ 4 Federal Reserve Bank of St. Louis 191,273 - - - - ^ i J l . C 12.1 ,, ^ 12-0 s t . 1519a Apr. 16,1920 811 O c t . 17,1919 778 269,196 269,365 594,483 615,062 202, 770 305,866 681. Q08 945. 54q 1,748,357 2,135,842 1,129,389 3,179,452 11.015.867 (a) 1,302,128 3,141,026 (a) 8.854.567 17,073,065 15,922,912 1,437,118 1,396,123 370,467 368,385 11,682,753 11,153,523 2,608,587 2,037,688 189,849 482, 804 877 , 576) 6,649) 1,214,751 312,723) 489,349 856,456) ( a ) E x c l u s i v e of rediscounts with I5.3 F . R. Banks* R e l e a s e d f o r p u b l i c a t i o n Monday morning, October 25, 1920; n o t e a r l i e r . St.1519b, PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING- MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS OCTOBER 15, I92O. (Anounts in thousands of d o l l a r s ) F e d e r a l Reserve D i s t r i c t Boston New York E h i l a - C l e v e l . Riclm. A t l a n t a Chicago S t - L o u i s Minn. Kans.Cy. D a l l a s San F r a n . Total Number r e p o r t i n g banks 48 ll4 81 46 108 59 92 68 322 83 51 35 37 U. S. "bonds t o s e c u r e v circulation 12,608 46,798 11,347 42, 273 28, 808 14,380 21, 550 16,923 32,64s 268,980 7,371 14,701 .19,573 Other U. S. bonds i n c l u d i n g m L i b e r t y bonds 18,081 60,682 33,675 253,139 29,077 28,163 52,407 13,361 10,005 23,391 21, 849 64,061 607,891 *3. S. V i c t o r y n o t e s 5, 838 82,995 9,010 18, 548 7,245 4,078 2,615 1,025 3,066 5,080 33,699 13,074 191,273 •U. S. C e r t i f i c a t e s of indebtedness 166.951 26.701 25,328 25.552 7.764 6.944 54.810 8.554 5.175 2.103 5.842 26.029 361.753 Total U.S. s e c u r i t i e s 61,855 549, 883 76,135 147,055 77,492 . 53,565 167,466 38,074 20,504 51,726 50,330 135,812 1,429,897 Loans and investments i n c l u d i n g b i l l s rediscounted w i t h F. E. Bank: ^ Loans s e c . b y U.S.war o b l i g . 47,4op 455,985 75,350 71,455 30,528 31,090 93,678 31,672 15,538 27,648 10,610 32,768 923 722 • Loans s e c . b y stocks & bonds 202,274 1,370,320 214,430 328,219 107,891 60,032 450,002 126,098 3 2,946 82,776 40,858 l 4 5 , S 6 l 3 , 1 6 2 257 . A 1 1 o t h e r loans^invss talents 815.947 4.138.201 598.271 A80.420 k)3. 227 42^.398 1. 84Q. 774 415.686 298. 223 539.942 263.337 998.194 1 1 . 7 6 8 . 1 % T o t a l l o a n s & investments including rediscounts w i t h F . R. Bank 1,127,476 6,564,889 964,186 1,527,149 619,133 570,13 5 2,551,920 611,530 367,211 702,092 365,635 1,312,635 17,283,996 Reserve balance w i t h F.R.Bank 90,568 681,564 73,26o 101,177 37,409 29,773 194,766 38,121 21,693 43,681 27,133 82,937 1,422,082 Cash in v a u l t 27,783 122,576 17,123 37,218 17,273 14,635 70,203 9,538 8,675 14,971 12,061 29,008 381,114 Net demand d e p o s i t s 860,706 5,154,324 693,119 Time d e p o s i t s 159,335 472,242 39,435 Government d e p o s i t s 16,261 89,482 20,692 19,035 2,754 £,078 jBills payable w i t h F.R.BSnk: Sec.by U.S.war o b l i g a t i o n s All other 15,429 333,148 49,193 23,4io 36 32,070 4i 32,001 689 138,570 38,539 436,754 34,853 11,878 39,032 4,654 4 l , 653 9,980 73,781 B i l l s r e d i s c o u n t e d w i t h F.R.Bank: ^ S e c . b y U.S.war o b l i g a t i o n s 15, 706 P All o t h e r 60,834 955,757 344,315 260,056 1,433,086 308,610 193,456 339,526 229,548 649,921 11,472,924 378,786 106,236 143,824 635,4o4 128,291 6s, 898 97,146 55,663 518,043 2,808,303 5, l 6 f *,956 4,219 2,200 10,179 188,401 82,252 1,750 20,332 - • 6,009 533 25,726 1,100 13,452 30,601 190 668,623 4,339 16,873 289,987 8,855 84,996 1,517 63,946 7,146 86,163 2,427 28,390 3,046 • 76,418 259,201 1,316,807 fie l e a s e d f o r p u b l i c a t i o n Monday morn tog, October 25, 1920; n o t e a r l i e r . S t . 15-5c. PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS I F F . R. BANK AND BRANCH CITIES AND ALL OTHER REPORTING- BAITKB. : (Amounts i n t h o u s a n d s o f d o l l a r s ) ; A l l F- R . F. R. All 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 r e p o r t i n g banks Oct. 15 Oct. g O c t . 15 O c t . S O c t . 15 Oct-, g O c t . 15 Oct-, g O c t . IS Oct. g Nuaber of r e p o r t i n g banks 71 71 51 51 284 284 208 203 330 330 U. S. bonds t o s e c u r e c i r c u l a t i o n 37,101 36,801 1,439 1,435 96,275 95,97b 72,250 72,256 100,455 100,344 Other U . S . b o n d s , i n c l u d i n g L i b e r t y bonds 220,593 222,837 17,377 16,981 341,003 3^,390 146,492 145,332 120,396 120,715 U. S. V i c t o r y n o t e s 73,695 70,275 11,212 11,105 104,044 100,939 50,272 52,562 36,957 36,59% 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 151.218 l4l.g!7 19.230 15.631 215.071 204.538 78.686 68.4q4 47.996 44.817 Total u . s . s e c u r i t i e s 482,627 471,73 0 4$,258 45,156 776,393 745,843 347,700 338,650 305,804 302,470 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 . Banks: Loans s e c u r e d by U.S.war o b l i g a t i o n s 427,402 433,570 62,299 64,204 691,294 701,227 137,376 138,682 95,052 97,025 Loans s e c u r e d by s t o c k s and bonds 1,221,229 1,169,848 334,777 3 3 3 , 0 4 5 2 , 2 6 1 , 3 6 2 2,198,937 489,119 488,477 411,776 403,737 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 9 8 . 7 3 3 3 . 7 2 0 . 5 1 0 1 . 1 0 1 . 5 6 1 1 . 0 9 9 , 6 4 7 7.547*438 7 . 5 7 1 . 1 9 9 2 - 3 0 4 . q g 4 2 . 3 1 1 . 7 9 3 1 . 9 1 5 . 6 9 8 1 . 8 8 8 , 5 6 4 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 ins r e d i s c o u n t s w i t h F.R.Banks 5 , 8 2 9 , 9 9 1 5 , 7 9 5 , 6 5 8 1,549,897 l , 5 ^ 2 , 0 5 2 1 1 , 2 7 6 , 4 8 7 11,219,206 3 , 2 7 9 , 1 7 9 3 , 2 7 7 , 6 0 2 2 , 7 2 8 , 3 3 0 2 , 6 9 1 , 7 9 6 Be s e r v e b a l a n c e w i t h F . P.. Bank 64Q,552 628,922 138,64o 135,959 1,052,034 1,027,389 211,116 201,867 152,932 155,%24 Cash i n v g u l t 107,949 106,985 4 i , 160 38,147 218, 843 214,635 76,995 74,251 85,276 87,524 4,647,698 4,527,268 980,59% 955,006 8,031,637 7,849,073 1,803,669 1,754,179 Net demand d e p o s i t s 1,637,612 1,608,97s Time d e p o s i t s 334,984 324,035 291,731 291,167 l , 299, %37 1,286,711 906,418 907,257 602,44s 601,608 Government d e p o s i t s :g6,854 152,238 6,897 7,473 145,491 208,668 28,716 24,694 14,194 13,774 B i l l s p a y a b l e 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 303,773 309,990 23,223 1,750 22,208 1,750 %3S,527 2,550 456,808 1,750 142, 568 1,179 138,020 235 87,528 , 610 86,075 l,46o 134,710 409,808 137,957 39%,256 9,139 210,068 9,254 209,943 212, 822 964,491 217,618 957,327 33,266 185,526 33,602 185,093 13,113 166,790 13,9%% 157,970 12.2 12.0 12.6 12.4 11.0 11.1 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 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 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, p e r c e n t 4? I5.O 15-0 7-1 7.0
@FedFRASER