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FEDERAL RESERVE BOARD

WASHINGTON

ADDRESS OFFICIAL CORRESPONDENCE  T O

T H E  FEDERAL RESERVE BOARD

February  10 , 192S

s t . 5 6 7 s

SUBJECT: Condition  of  Member Banks

as o f

  December

  31 . 1927.

Dear

  S i r :

F o r

  your information there

  i s

  enclosed,

herewi th

  a

  pre l imin ary s ta tement regard ing

  t h e

cond i t i on

  o f a l l

  member banks combined

  as of

December

  ]1 , 1927 . The

  Board's Member Bank Call

Renort

  (N o. ~*>8)

  showing detai led f igures

  f o r a l l

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j 577

CONDITION  or  MEMBEB BANKS  OH IECEMBEE  31 , 1927 . St .  5675a

Loans

  a nd

  investments

  o f a l l

  member "banks

  on

  December

  31

  a t t a i n e d

  the new

  peak

to t a l  of  £34,679<000,000, showing  an  increase  of  $1,228,000,000 since October  10,

th e

  preceding cal l date ,

  and of

  $2,783,000,000

  f o r t h e

  year .

  Of th e

  total increase

since October

  1 0 ,

  $969,000,000

  was

  repor ted

  by

  banks

  in the two

  ce nt ra l reserve

c i t i e s , i nc lud ing  a n  increase  of  $871,000,000  in New  York Ci ty , 3220,000,000  by

banks

  i n

  o ther reserve c i t i es ,

  a n d

  $39,000,000

  b y

  cou ntr y ban ks. Loans

  a n d d i s -

counts , including overdraf ts , totaled $24,318,000,000,

  an

  i nc r ease

  of

  $827,000,000

since October  10 and of  $1,4-12,000,000 since December  3 1 ,  1926 , t he  p r i nc ipa l

changes

  i n

  this item since October

  10 by

  Federa l reserve d i s t r i c t s be ing increases

of  $819,000,000  and  $38,000,000, respect ively,  in the New  York  a n d  Chicago  d i s -

t r i c t s ,

  and a

  decrease

  of

  $4o,000,000

  i n t h e

  Cleveland d i s t r i c t . Investments

  i n

U. S.

  Government s e c u r i t i e s were $121,000,000 hi gh er tha n

  on

  October

  10 and .

$585,000,000 above  t h e  amount held  a  year e ar l i e r , whi le investments  i n  other secu-

ri t ies increased $280,000,000 since October

  10 and

  $782,000,000 during

  t h e

  year .

  Of

t h e

  to ta l increase

  of

  $401,000,000

  i n

  sec ur it y hol din gs, $204,000,000

  was

  reported

b y  banks  i n  cen t r a l r e se rve c i t i e s  a n d  $128,000,000  by  those  i n  o ther reserve c i t i es .

Total deposits were $36,635,000,000,  an  increase  of  $1,185,000,000 since October

10 and of

  $2,127,000,000

  f o r th e

  ye a r . Demand de posi ts were $796,000,000 above Octo-

b e r 1 0 ,

  i nc r eases

  of

  $662,000,000 being shown

  f o r t he New

  York d i s t r i c t ,$66,000,000

f o r t h e  Chicago d i s t r i c t ,  and  $30,000,000  f o r t he S a n  Fr an ci sc o d i s t r i c t ,  a n d d e -

c l i nes

  of  25

,000,000 $15,000,000, re sp ec ti ve ly ,

  f o r t h e

  Cleveland

  a n d

  Minneapo-

l i s

  d i s t r i c t s .

  As

  compared with December

  31 , 19 26 ,

  demand deposits increased

.?531,000,000,  b u t t h e  increase would have been much larger except  f o r th e  subs tant ia l

decrease

  i n t h e

  amount

  of

  f l o a t c a r r i e d

  by

  member banks, uncollected items having

  d e -

c l ined  b y  $595,000,000 during  t h e  yea r. Time de po si ts show  a n  increase  of

$306,000,000 since October

  10 and of

  $1,325,000,000 since December

  31, 1926, the New

York d i s t r i c t showing

  a n

  increase

  of

  89

,000,000 since October

  1 0 ,

  Chicago $85,000£>00

San   Fran cisc o $70,000,000,  and  Philadelphia $29,000,000,  a n d t h e  Cleve land d i s t r i c t

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ALL

  MEMBER BAMS

  -

CONDITION  ON  DECEMBER  31 AND OCTOBER  10, 1927

S t .  5678b

RESOURCES

State Banks

National

Banks

RESOURCES

December

  31

October

  10

December

  31

October  10

Loans

  a n d

  d iscount s ( inc ludin g over draf t s)

U„ S.  s e c u r i t i e s

Other bonds, stocks

  a n d

  s e c u r i t i e s

Totpi loans  e n d  investments

$9,482,758,000

1,232,730,000

2,233,464,000

$9, i i5 ,955,ooo

1,183,685,000

2,163,713,000

$14,835,603,000

2,7^4,827,000

4,149,498,000

$14,375,565,000

2,672,464,000

3,939,406,000

Loans

  a n d

  d iscount s ( inc ludin g over draf t s)

U„ S.  s e c u r i t i e s

Other bonds, stocks

  a n d

  s e c u r i t i e s

Totpi loans  e n d  investments

12,9^8,952,000

12,463,353,000

21,729,928,000

20,987,435,000

Cash

  i n

  vaul t

Reserve with  F. R.  Banks

Items

  ^ i t h

  Federal reserve "banks

  i n

process

  o f

  c o l l e c t i o n

Due

  from "banks

  a n d

  "bankers

"Exchanges

  f o r

  c learing house ,

  a n d

  checks

on

  other banks

  i n

  same place

A l l

  o ther resources

  v

Total resources

163,299,000

1,005,212,000

263,992,000

560,274,000

726,881,000

1,070,973,000

164,943,000

905,944,000

237,835,000

493,204,000

687,920,000

1,003,228,000

360,071,000

1,509,253,000

520,399,000

1,649,557,000

781,537,000

1.597,812,000

374,194,000

1,413,792,000

502,036,000

1,584,237,000

876,876,000

1,460,721,000

Cash

  i n

  vaul t

Reserve with  F. R.  Banks

Items

  ^ i t h

  Federal reserve "banks

  i n

process

  o f

  c o l l e c t i o n

Due

  from "banks

  a n d

  "bankers

"Exchanges

  f o r

  c learing house ,

  a n d

  checks

on

  other banks

  i n

  same place

A l l

  o ther resources

  v

Total resources 16,739,583,000 15,956,427,000 28,148,557,000 27,199,291,000

LIABILITIES

Dema.nd deposits

Time deposits

U. S.

  deposi t s

C e r t i f i e d

  a n d

  ca sh ie rs ' checks

Due to

  "banks

  a n d

  "bankers

6,946,538,000

4,959,011,000

99,667,000

383,437,000

1,399,524,000

6,455,862,000

4,870,816,000

182,749,000

469,419,000

1,195,632,000

11,223,602,000

7,805,787,000

167,314,000

456,119,000

3,194,065,000

10,918,564,000

7,588,432,000

252,726,000

508,525,000

3,007,043,000

Total deposits

13,788,177,000

13,174,478,000

22,846,887,000

22,275,290,000

Bi l l s payable  a n d  rediscounts

Acceptances outstanding

Capi tal stock pai d

  i n

Surplus fund

A l l

  o t h e r l i a b i l i t i e s

182,093,000

354,433,000

810,071,000

810,537,000

794,272,000

211,885,000

304,300,000

806,124,000

777,151,000

682,489,000

481,382,000

389,358,000

1,527,709,000

1,313,483,000

1,589,738,000

316,330,000

297,411,000

1,498,584,000

1,272,174,000

1,539,502,000

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