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STATEMENT FOE THE PRESS Released f o r p u b l i c a t i o n In St• 2295< Friday a f t e r n o o n papers, Sept. 23; Federal Reserve Board not e a r l i e r . September 22, 1921. CONDITION OF MEMBER BANKS IN LEADING CITIES Aggregate i n c r e a s e s of $75,000,000 in loans and discounts and of $149,000,000 in net demand d e p o s i t s , accompanied "by a reduction of $71,000,000 in borrowings from t h e Federal reserve banks, are i n d i c a t e d in the Federal Reserve Board's weekly consolidated statement of condit i o n on September l 4 of 810 member banks i n leading c i t i e s . As against a decrease of $6,000,000 i n loans secured by Government o b l i g a t i o n s , loans secured by corporate o b l i g a t i o n s show an i n c r e a s e f o r the week of $4$,000,000, and a l l o t h e r loans and d i s c o u n t s , mainly of a commercial and i n d u s t r i a l c h a r a c t e r - an i n c r e a s e of $38,000,000, t h e l a r g e r borrowings a p p a r e n t l y causing in p a r t the accumulation of funds at the member banks to provide f o r t a x payments on the following day. For the member banks i n New Yprk City, an increase of $56,000,000 in loans secured by c o r p o r a t e o b l i g a t i o n s , as a g a i n s t reductions of $5,000,000 each i n loans secured by Government o b l i g a t i o n s and in commerc i a l l o a n s , a r e noted. There were no s i g n i f i c a n t changes in the holdings of Government s e c u r i t i e s , while investments in o t h e r s e c u r i t i e s show a d e c l i n e of about $10,000,000 f o r a l l r e p o r t i n g i n s t i t u t i o n s and of $3,000,000 f o r the New York City banks. Total loans and investments are shown $71,000,000 l a r g e r than the week b e f o r e , the corresponding increase f o r t h e member banks in New York City being $42,000,000, Accumulation of f u n d s enabled the member banks to reduce f o r the time being t h e i r borrowings from t h e Federal reserve banks from $979,000,000 to $908,000,000, or from 6.7 to 6 . 1 p e r ' c e n t of 'the r e p o r t i n g banks' t o t a l loans and investments. For the New York City banks a reduct i o n under t h i s head from $256,000,000 t o $206,000,000 i s noted, accompanied by a d e c l i n e i n t h e r a t i o of accommodation from 5*6 to 4,4 per cent. Since the close of 1920, t o t a l borrowings of the r e p o r t i n g banks from t h e Federal, reserve banks have declined by $1,190,000,000, or nearly 57 per cent, while those of t h e New York City banks show a simultaneous d e c l i n e of $560,000,000, or of 73 Per c e n t , Government d e p o s i t s show a f u r t h e r reduction of about $9,000,000, while o t h e r demand d e p o s i t s (net) increased by $149,000,000 and time dep o s i t s - by $3,000,000, t h e l a r g e i n c r e a s e in demand d e p o s i t s being •in a n t i c i p a t i o n of t a x payments due on September 15. For the New York City banks i n c r e a s e s of about $50,000,000 in net demand d e p o s i t s and of $4,000,000 in time d e p o s i t s , a n d no change i n Government d e p o s i t s are shown, Notwithstanding the l a r g e i n c r e a s e i n deposit l i a b i l i t i e s , the r e p o r t i n g banks show a decrease of about $8,000,000 i n t h e i r reserve balances with the Federal reserve banks, while cash in v a u l t increased by $2,000,000. The New York City banks report an aggregate l o s s of about $25,000,000 i n reserve b a l a n c e s and a gain of $2,000,000 in cash. Released f o r ™ B « S I,T LEADIHO e m » ( c o u n t s i , thousands o Number of r e p o r t i n g banks - - — — - - - Loans and d i s c o u n t s , including b i l l s rediscounted w i t h F. R. Bank: : : : zzs: U s bord ;.v giov OJ - - :::: , ?, :| ^ - - . ?f ig21 lfar, 18 810 - 867,862 u*. t n o t e s U. S v Treasury n o t e s Sept , . ufe 870,482 19a sept. 824 ?6l i-M 218 955,343 >•*»<$» ssaS - w 866,121 M 878,958 ^ ^ 53.369 48,333 l4l,029 140,624 338,844 415,860 Other bonds, s t o c k s and s e c u r i t i e s Total l o a n s & discounts & i n v e s t . i n c l u d i n g b i l l s r e d i s ' d . w i t h F.R.Bk. - 2,013,23% 14,800,748 2,0^3,369 14,729,728 ...2,056,939 16,076,13 2 —. W-— 17,057>37 Reserve 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 Tine d e p o s i t s - 1,228,693 310,018 10,130,875 2,916,826 1,236,233 307,600 9,982,367 2,914,007 1,252,032 321,189 10,375.720 2,926,448 1,390,096 369.711 11,381,204 2,780,662 130,499 139.747 3*7.624 331.376 232,493 2,623 254,^ 6 80 573.167 3.382 669,499 4,023 «S:S « S® AM u. S- C e r t i f i c a t e s of indebtedness Government d e p o s i t s - - - - - - - - All o t h e r Ratio of b i l l s payable and rediscounts with F . R. Banks t o t o t a l l o a n s and investments, p e r cent - - - - - - - - - - - - - - - 6.1 <7 (a) Ccstparable f i g u r e s not a v a i l a b l e . 11 6 Released, f o r p u b l i c a t i o n Friday a f t e r n o o n , Sept. 23, 1921; not e a r l i e r St.2295b. PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS SEPT. l 4 , 1921. Federal Reserve D i s t r i c t Boston New York Phi l a . Clevel. RichmNcmber of r e p o r t i n g banks 49 112 58 82 85 Loans and discounts i n c l u d i n g b i l l s rediscounted w i t h F . R. Bank; Loans sec•by U.S.Govt.oblig. 32,898 235,060 68,360 56,004 24,247 Loans sec.by stocks and bonds 185,670 1,258,541 184,233 336,394 109,577 All e t h e r loans & discounts 597,763 2,691,207 355,786 662,893 330,263 Total l o a n s and discounts 816,331 4,184,808 608,379 1,055,291 464,087 U. S~ bonds 314,679 46,295 37,338 101,599 60,855 U» S. Victory notes 5,551 5,355 77,946 16,685 4,542 U. 8 . Treasury notes 1,677 29,359 6,509 5,028 819 U. S- C e r t i f i c a t e s of indebtedness 4,731 10,000 64,015 10,379 2,401 Other bonds,stocks & s e c u r i t i e s 140,156 7 H , 9 0 i 152,907 273,801 47,953 Total loans and. d i s c o u n t s , and investments including b i l l s rediscounted with F-R-Bk, 1,005*784 5,382,768 829,824 1,462,404 580,657 He serve balance with F. R- Bank 75/476 564,815 61,034 94,753 30,443 Cash i n v a u l t 21,301 103,022 17,275 29,305 14,455 Atlanta 43 Chicago 112 St.Louis 37 Minn. Kans.Cy. Dallas 52 79 35 6,626 18,233 79,766 18,637 13,684 17.936 66,686 51,602 440,893 118,622 30,785 37,683 316,515 1,177,15s 304,157 238,623 369.251 207,093 386,350 1,697,817 441,416 283,092 453,8^3 251,402 30,380 70,645 26,849 15,754 31,565 34,290 2,162 26,910 1,272 1,894 2,761 697 244 114 189 6,239 597 1,882 36,946 20,634 1,631 339,772 67,181 541 20,183 5,577 46,009 2,724 10,108 Net demand d e p o s i t s 717,997 4,516,503 615,212 Time d e p o s i t s 181,775 424,290 121,828 140,139 Government d e p o s i t s B i l l s payable with FvR,Bank: Sec. by U»S» Govt» oblige All o t h e r 27,231 598,682 145,635 2,966,321 747,054 7,997.773 919,950 11,562,776 867,862 97,613 16,700 162,475 2,594 53,369 16,514 141,029 166,314 2,013,237 652,882 145,916 24,199 310,018 589,511 10,130,875 67,s4o 99,654 59,776 54o,449 2,916,826 10,633 60,99^ 14,350 10,995 4,302 2,152 6,989 3,850 4,i6o 3,407 2,831 5,836 130,499 9,757 70,682 26,332 18,724 1,922 24,886 13,160 22,341 13,739 3,031 264 8,123 4,431 298 17.287 139 232,493 2,623 6,532 69,017 2,628 45,616 932 29.207 1,691 27,334 303 17,945 2,745 38,064 64,023 609,187 B i l l s rediscounted with F~R»Bank: Sec. by U.S. Govt- oblige 6,003 All other 35,450 4 Total 810 457,720 2,162,023 539,085 320,511 539,954 300,393 1 ,219,685 14,800,74S 184,558 37,928 17.052 37,804 19,786 27,953 77,091 1,228,693 7,388 9,657 53,948 6,257 12,998 10,213 817,811 294,756 213,402 1,344,220 285,694 177,083 372,247 186,439 439,751 42,526 San Fran, 66 — 12,781 170,650 — 17,445 23,773 - - 5,439 42,535 - 5,111 79,433 • 2,413 30.163 - Released f o r p u b l i c a t i o n Friday a f t e r n o o n , September 23, 1921; not e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITE/IS OF REPORTING 1,IE1£BER BANKS IN F. R. BANK AND BRANCH CITIES AND ALL OTHER REPORTING BANKS • (Amounts i n thousands of d o l l a r s ) • All o t h e r F. R. All F. R. reporting banks c i t i e s Branch Bank c i t i e s New York City City of Chicago Sept. 14 Sept. 7 Sept. 7 Sept. 14 Sept. 7 Sept. 14 Sept, 7 Sept. 14 Sept. l 4 Sept. 7 212 31S 318 212 280 280 Number of r e p o r t i n g banks 70 70 51 51 Loans and discounts including b i l l s r e d i s c ' d . w i t h F.R.Bank: 78,863 96,662 96,367 429,480 79,529 Loans sec.by U.S.Govt.oblig. 422,491 211,922 57,188 217,367 55,527 4I6,34I 468,803 414,957 470,101 Loans sec.by s t o c k s and bonds 1,096,777 1,040,302 318,583 329,072 2,079,879 2,037,133 All o t h e r loans and discounts 2,394,234 2,399,313 756,880 741,520 5,183,476 5,158,581 1.456,761 1,449,861 1,357,536 1,350,978 Total loans and discounts 3,702,933 3,656,982 1,132,651 1,126,119 7,685,846 7,625,194 2,023,524 2,015,031 1,853,406 1,844,798 U. S. bonds U. S- Victory n o t e s U. S. Treasury notes 268,985 70,151 26,723 70,393 27,166 U. S. C e r t i f i c a t e s . o f indebtedness Other bonds, s t o c k s and s e c u r i t i e s T o t a l loans and d i s c o u n t s , and investments, including b i l l s rediscounted with F.R.Bank Reserve balance with F. R. Bank 53,310 537,863 59,416 541,023 4,664,970 518,668 4,622,655 543,811 89,881 4,043,910 88,142 Ratio^f bills payable and rediscounts wit^F-R. Bank to total loans and inve st ment s, per cent 8,225 2i,i44 6,747 18,806 348,423 346,525. 96,053 35,662 35,761 9,482 5,825 7,652 132,937 89,331 1,094,013 90,435 1,104,592 30,554 570,801 31,383 572,252 1,302,343 1,296,249 134,908 123,135 9,446,572 897,045 909,15s 32,201 900,510 175,843 7,108,413 174,344 7,009,179 272,772 3,994,447 269,100 30,275 929,663 312,282 310,539 1,359,013 1,353,348 58,785 58,785 5,816 11,324 102,888 108,473 17,523 20,356 10,088 10,918 51,491 70,858 3,633 7,758 114,719 1,895 145,485 76,214 271 76,195 373 4l,560 457 43,135 307 42,710 378,727 46,46o 420,458 13,623 107,364 14,183 103,288 7,690 123,096 7,720 121,329 6-5 6.8 - 11,281 143,228 4.4 - 444,984 445,256 96,736 1,454 7,769 131,129 - 13,221 172,471 3,247 31,328 3,725 43,539 5-6 2.9 . 4.2 5-7 r-4 Government d e p o s i t s Bills payable with F> R. Bank: Sec. by U. S- Govt, obligations All o t h e r Bills rediscounted with F. R. Bank: Sec. by U. S. Govt, obligations All other 2.12,214 213,012 17,179 11,155 1,207 17,895 11,445 cn Cash i n vault Net demand d e p o s i t s Time d e p o s i t s 212,770 25,728 210,108 40,011 267,675 - 39,651 26,193 2,884,480 2,877,154 2,469,696 2,455,283 144,823 186,825 192,636 134,439 74,447 58,824 73,932 59,728 1,535,660 1,563,744 1,436,802 1,409,444 651,610 650,948 909,049 906,865 6.8 7-0 7-0
@FedFRASER