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STATEMENT FOR THE PEESS Released f o r p u b l i c a t i o n $r st.2302 Friday afternoon papers, Sept, ] 0 ; Federal Reserve Board not e a r l i e r . September 29, 1921 CONDITION OF MEMBER BANKS IN LEADING CITIES Aggregate i n c r e a s e s of $178,000,000 i n the holdings of Government s e c u r i t i e s 1 f o l l o w i n g the issuance on September 15, of $698,000,000 of Treasury notes and c e r t i f i c a t e s , together with an increase of $419,000,000, i n Government d e p o s i t s , representing l a r g e l y book c r e d i t s f o r notes and c e r t i f i c a t e s a l l o t t e d , as against reductions of $298,000,000 i n demand d e p o s i t s , l a r g e l y tne r e s u l t of payment of customers' t a x checks, are indicated i n the Federal Reserve Board's weekly c o n s o l i d a t e d statement of condition on September 21 of 810 member banks i n l e a d i n g c i t i e s . Loans secured by Government o b l i g a t i o n s show a r e d u c t i o n of $6,000,000 t o r the weak, l o a n s s e c u r e d by c o r p o r a t e o b l i g a t i o n s i n c r e a s e d oy $13,000,000, w h i l e a l l e t h e r l o a n s 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 , shew a d e c r e a s e of $ 2 6 , 0 0 0 , 0 0 0 . For t h e member banks i n K?w York C i t y an i n c r e a s e of $32,000,00© i n l o a n s 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 r e d u c t i o n s of $5,000,000 i n l o a n s secured by Government o b l i g a t i o n s and of $34,000,000 i n commercial l o a n s , a r e n o t e d . h o l d i n g s of United S t a t e s bonds and V i c t o r y n o t e s i n c r e a s e d oy $ 7 , 0 0 0 , 0 0 0 , tnose of Treasury n o t e s - by $111,000,000, and t h o s e of Treasury c e r t i f i c a t e s by Su0,000,000, w h i l e t h e b a n k s ' i n v e s t m e n t s i n c o r p o r a t e and o t h e r s e c u r i t i e s f e l l off about $15,000,000, The New York City banks r e p o r t i n c r e a s e s of about $2,000,000 i n t h e i r h o l d i n g s of U* S. bends and V i c t o r y n o t e s , of $46,000,000 i n t h e i r i n v e s t m e n t s i n Treasury n o t e s , and an i n c r e a s e of only $2,000,000 i n T r e a s u r y c e r t i f i c a t e s , t h i s s m a l l e r i n c r e a s e r e f l e c t i n g a p p a r e n t l y the l a r g e demand f o r c e r t i f i c a t e s by l o c a l c o r p o r a t e and o t h e r u l t i m a t e i n v e s t o r s , Total l o a n s and i n v e s t m e n t s , i n consequence of t h e changes n o t e d , show an i n c r e a s e f o r t h e week of $145,000,000, of which $33,000,000 r e p r e s e n t s t h e i n c r e a s e f o r t h e member banks i n New York C i t y . N o t w i t h s t a n d i n g t h e l a r g e r e d u c t i o n i n demand d e p o s i t s , t h e r e p o r t i n g banks were a b l e d u r i n g t h e week to reduce t h e i r accommodation a t t h e F e d e r a l reserve banks f r o m $$02,000,000 t o $860,000,000, o r f r o m 6 . 1 to 5*8 p e r cent of t h e i r 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 City banks a r e d u c t i o n from £206,000,000 to $130,000,000 i n borrowings from t h e l o c a l r e s e r v e bank, and from 4 . 4 to 2 . 8 p e r c e n t i n t h e r a t i o of accommodation i s n o t e d . As a g a i n s t a d e c r e a s e of $298,000,000 i n n e t demand d e p o s i t s , t h e banks report a much l a r g e r i n c r e a s e , by $419,000,000, i n Government d e p o s i t s , t h i s excess a p p a r e n t l y a c c o u n t i n g f o r t h e i r a b i l i t y to reduce t h e i r borrowings f r o m the Federal r e s e r v e b a n k s . Member banks i n New York C i t y r e p o r t a d e c r e a s e of $70,000,000 i n n e t demand d e p o s i t s , as a g a i n s t a g a i n of $180,000,000 i n Government d e p o s i t s and a c o r r e s p o n d i n g l y . l a r g e r r e d u c t i o n i n t h e i r borrowings from the l o c a l r e s e r v e b a n k . Only s l i g h t changes a r e shown i n time d e p o s i t s . Reserve b a l a n c e s of t h e r e p o r t i n g b a n k s , i n k e e p i n g w i t h t h e l a r g e r e d u c t i o n in demand d e p o s i t s , show a t o t a l r e d u c t i o n of $39,000,000, w h i l e c a s h i n v a u l t ) l a r g e l y F e d e r a l r e s e r v e n o t e s , f e l l off about $ 9 , 0 0 0 , 0 0 0 , The New York City banks r e p o r t a r e d u c t i o n of $4,000,000 i n t h e i r a g g r e g a t e r e s e r v e b a l a n c e s and of $2,000,000 i n c a s h , Released iOr publication jri&ay ai 13mcon, Sept. 30, 1921; riot e a r l i e r . — PitlMCIPAL RESOURCE AHD LIABILITY I THIS OF REPORTING MEMBER BANKS IH-LEADING CITIES — — (Amounts i n t h o u s a n d s of d o l l a r s ) Sept •Humber of r e p o r t i n g b a n k s Loans a n d d i s c o u 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: Secured by U. S. Govt, o b l i g a t i o n s __ __ __ _ Secured 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 ) A l l o t h e r l o a n s and d i s c o u n t s T o t a l l o a n s and d i s c o u n t s U» S. bonds - U. 5- V i c t o r y n o t e s IL S% T r e a s u 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 _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ O t h e r bonds, s t o c k s and s e c u r i t i e s T o t a l l o a n s & d i s c o u n t s & 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. 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 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 e d e r a l Reserve Bank: S e c u r e d by U. S- Govt, 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 Reserve Bank: Secured by U- S- Govt, o b l i g a t i o n s All other R a t i o of b i l l s p a y a b l e and r e d i s c o u n t s w i t h F. R. Ba.nk; t o t o t a l loans and' i n v e s t m e n t s , p e r cent - - ' ^ 1521 592,842 2,979,307 7,972,016 11,544,165 870,744 166,263 • 164,685 200,914 1521 598,682 2,966,321 7,997,773 11,562,776 867,862 162,475 S t . 2308a. ^gg3^' 759,917 3,026,912 8,804,140 12,590,969 874,843 192,730 S e 24 ^' ' 950,324 3,055,942 (a) (a) 872,865 191,472 1,998,655 14,945,426 1,189,256 301,445 9,833,196 2,915,659 549,131 53,369 141,029 2,013,237 14,800,748 1,228,693 310,01s 10,130,875 2,916,826 130,499 274,846 2,049,600 15,982,988 1,259,573 314,764 10,185,727 2,932,472 328,613 358,383 11,160,537 2,786,811 315,364 224,323 79- 232,493 2,625 573,124 3,993 677,935 6,873 65,28b 570,277 64,023 609,187 198,64$ 956,420 1,104,772 5.5 6.1 - 11.O (a) Comparable fig-,ires not availabl; — 383,420 (a) 17,140,246 1,361,800 271,330 12.5 1920 Released f o r p u b l i c a t i o n F r i d a y a f t e r n o o n , S e p t . 30, 1921; not e a r l i e r . qt PRINCIPAL BESOilnCE ALD LIABILITY ITEMS OF ALL REPORTING TffiMBER BANKS IN EACH FEDERAL HESEPVE DISTRICT AT CLOSE OF BUSINESS SEPT. 2 1 1 9 2 1 . — (Amounts i n thousands of d o l l a r s ) ' — Loans and d i s c o u n t s , i n c l u d i n g "bills rediscounted with F . R. Bank: All other loans & discounts n G r A t l T s t a C M s ° T - Kan ?,cy- s ^ ^ r a n ^ ^ai-Sf ^ ^ &S? £?•% XX, J*? « S Total loans and discounts 821,594 4,174,664 607,425 1,054,701 465,113 334,590 1,695,859 443,374 280^201 450,422 249 i4o 0. s . -bonds 37,571 311,486 46,233 105,610 61,304 30,229 72,051 26,387 15,721 30,475 lu'iijO a. s . victory notes 5,6o 3 82,674 5,347 16,205 4,452 2,l4s 27,60? 1,850 698 2,792 1,318 u. s . Treasury notes 9,627 77,818 19,061 11,489 9,473 624 13,386 3,644 4,956 5,375 1561 u . S. C e r t i f i c a t e s of indebtedness 9,202 66,382 15,476 12,562 4,S S 6 2,805 42,216 5,257 3,383 7,039 8,449 Other bonds,stocks & s e c u r i t i e s l J S ^ 702,195 154,624 265.795 46.417 37.067 345.530 67.410 20.621 47 604 o sfiv T o t a l l o a n s and d i s c o u n t s and ~ investments, including b i l l s - Totai ^10 ;jg 917 022 11 W i f e 99*212 '870 744 1='569 166'26X 7*671 164'fiJ ,D6D 23 24? l6x'?&2 200 914 1 qqg'te >"vv rsrriTtrss »«: « "s-s -gs • « % % %% '•«•» -** 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 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.R.Bank: Secured by U-S-Govt.oblig. All o t h e r 72,625 20,602 557,453 59,970 100,739 17,326 698,135 4,434,702 599,019 181,012 445,419 43,077 43 , 66l 248,642 46,127 7,631 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.Govt»obiig« 6,46s All other 33,533 f *• 55,873 - 13,337 106,535 24,933 - 18,308 23,532 89,386 29,156 785,813 14 202 ' 2,920 419,611 45,182 17,441 6,779 15,243 27 24,213 i4,o6o 6,371 75,330 " 7 $ ,::m 52,414 6,990 6,104 12,322 22,769 301,445 574,713 541,347 9,833,196 2,915,659 21,587 549,131 5,389 5,329 366 21,687 139 224,323 794 246 1,967 ** 30,865 „17,350 670 65,280 650,080 146,213 67,313 99,913 63,588 17,441 16,965 12,170 27,436 5,437 l102,651 0 i ; & 11,634 2,183 33,185 4,o4i 262 752 827,897 7.2? 12,183 9,841 59,793 '9,548 32,413 570,277 Released f o r p u b l i c a t i o n Friday afternoon, September JO, 1921; not e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN F. R. BANK AND BRANCH CITIES AND IN (Amounts i n thousands of d o l l a r s ) All F. R. ~~ F. New York City City of Chicago Bank c i t i e s Branch Sept. 21 Sept. l 4 Sept. 21 Sept.14 Sept. 21 Sept. l 4 Sept. 21 Number of reporting banks 70 70 51 51 280 280 212 Loans and discounts, including b i l l s r e d i s c ' d . w i t h F.R.Bank: Secured by U.S.Govt, o b l i g . 207,090 211,922 57,053 57,188 418,742 422,491 Secured by stocks and bonds 1,128,542 1,096,777 305,461 4$:895 318,583 2,098,332 2,079,879 464,235 A l l other loans and discounts 2,359,793 2,394,234 769,869 756,880 5,161,971 5,183,476 1,459,630 Total loans and discounts 3,695,425 3,702,933 U. S. bonds 1,132,383 1,132,651 17,979 17,895 11,474 11,445 266,252 268,985 U. S. Victory notes 74,889 70,151 U. S. Treasury notes U. S. C e r t i f i c a t e s of indebtedness 72,740 60,623 26,723 58,310 5,812 28,283 Other bonds, stocks and s e c u r i t i e s 528,181 537,868 134,914 Total loans and discounts and rediscounted with F.R.Bank Reserve balance with F. R. Bank Cash i n v a u l t Net demand deposits 4,698,110 4,664,970 7,769 131,129 1,330,845.11,302,343 514,189 518,668 122,764 87,392 89,881 30,252 881,067 3.973,769 *h043,910 1,454 St.2308c. OTHER SELECTED CITIES R« Other cities selected c i t i e s Sept. 14 Sept. 21 S e p t . l 4 212 318 318 96,662 78,205 79,529 470,101 416,740 4i6,34I 1,456,761 1,350,415 1.357,536 2,019,760 2,023,524 1,845,360 1,853,406 210,970 210,108 215,767 212,770 4o,oi5 4o,oii 25,983 25,728 7,679,045 7,685,846 444,007 444,984 100,265 96,736 115,443 35,662 29,444 9,482 19,798 137,973 89,331 1,086,805 1,094,013 39,402 30,554 562,779 570,801 23,539 349,071 9,563,538 9,446,572 134,908 872,102 897,045 183,216 30,275 170,067 175,843 57,446 929,663 6,918,348 7,108,413 8,225 21,144 348,423 2,902,370 2,884,480 2,479,518 2,469,696 186,825 133,938 144,823 59,728 73,932 74,447 1,523,318 1,585,660 1,391,530 1,436,802 Time d e p o s i t s 277,290 272,772 310,069 312,282 1,361,570 Government deposits B i l l s payable with F. R. Bank: Secured by U.S. Govt. o b l i g a t i o n s All other 1,359,013 904,260 238,446 58,785 906,865 649,829 650,948 44,497 5,816 431,689 102,888 71,426 17,523 46,016 10,088 37,275 51,491 4,263 3,633 102,462 114,719 79,329 76,214 271 42,532 475 41,560 457 13,061 114,849 13,623 107,364 7,203 119,624 7,690 123,096 B i l l s rediscounted with F. R. Bank: Secured by U.S. Govt, o b l i g a t i o n s A l l other Ratio of b i l l s payable and rediscounts with F.R. Bank to t o t a l loans and i n vestments, per c e n t . * 1,895 11,883 81,169 2.8 11,281 143,228 4.4 3,675 54,330 3,247 31,328 4.7 2.9 45,022 335,804 5.1 42,710 378,727 5.7 319 7.2 6.8 6.8 7-0
@FedFRASER