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Monthly averages of daily figures; latest figures are for July since the beginning ofwith separate curves for banks in New York City, in other reserve cities, and elsewhere. This growth reflects in part the fact that since many of the member banks then borrowing at the reserve banks have been able to get SEPTEMBER, completely out of debt and consequently can not use surplus funds to retire rediscounts.
It may also reflect a disposition on the part of banks to maintain a stronger cash position at a time when banking disturbances have been recurring at intervals in different parts of the country.
In addition to their reserve balances and their vault cash, the member banks at the present time hold a large amount of assets, carrying low rates of interest but available as a basis for obtaining credit at the reserve banks.
A more detailed classification of investments of all member banks has recently become available for the end of June. The following table shows the composition of the investment holdings of the member banks at the end of June,in comparison with the corresponding figures for June, Issuu is a digital publishing platform that makes it simple to publish magazines, catalogs, newspapers, books, and more online.
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