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^ob* G ov&;^ FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release August 11, 1966 Figures on factors affecting hank reserves continue to show effects of delays in inter-city and inter-district check clearances resulting from the airline strike. During the week ended August 10, the average of daily figures of total member hank reserves held decreased a net of $124 million to $22,863 million. Estimated currency and coin of member hanks decreased $276 million and their reserve balances at the Federal Reserve Banks increased $152 million. Estimated required reserves decreased $l6l million; and estimated excess reserves increased $37 million to $399 million* Member hank borrowings at the Federal Reserve Banks exceeded excess reserves by $383 million, compared with the revised net borrowed figure of $Ul6 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $19^ million in U. S. Government securities held under repurchase agreements, and decreases of $l8l million in Treasury deposits with Federal Reserve Banks and $180 million in foreign deposits with Federal Reserve Banks* The principal offsetting changes were decreases of $115 million in Federal Reserve float and $56 million in U. 3. Government securities bought outright and increases of $16^ million in currency in circulation and $115 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $30 million. As of bought outright securities held borrowings were Wednesday, August 10, holdings of U. S. Government securities were $l8l million lower than a week earlier, U. 3. Government under repurchase agreements were $l6 million lower, and member bank $^76 million lower. Averages of daily figures Member bank reserves, UNIVERSITY OF OREGGNE^ek ended Change from week ended Wednesday, Reserve Bank credit, Aug. 10, Aug. 11, Aug. 10, Aug. 3, and related items A U H 17 1966 1966 1966 1966 .1965 (in millions of dollars) Reserve Bank credit: LIBRARY U. S. Government securities— Bought outright—System account 42,231 42,106 +2,972 - 56 Held under repurchase agreements 342 - 4o +194 352 Acceptances—bought outright 48 - 1 13 + Discounts and advances— Member bank borrowings 526 782 + 4 + 166 Other 4 + 4 + 1 Float -115 2,030 2,324 + 844 + 30 Total Reserve Bank credit 45,052 45,7*6 +3,957 + 1 Gold stock 13,334 13,333 - 525 +_12 Treasury currency outstanding 6,009 6,003 + 581 + "44" 64,395 65,079 +4,013 Currency in circulation Treasury cash holdings Treasury deposits with F.R. Banks Foreign deposits with F.R. Banks Other deposits with F.R. Banks Other F. R. accounts (net) Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 42,908 1,047 1,105 139 +164 4o4 283 45,886 19A94 3,669 22,863 22,464 399 - 16 +115 -108 - 10 -181 -180 +152 -276 -124 -161 + 37 +2,783 + 247 + 55 59 + 213 - 187 +3,050 + 964 + 299 +1,263 +1,287 24 43,053 1,066 990 124 4io 264 45,907 18,488 Al6£ 22,653 22,413 240 On August 10, 1966, U. 3. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,498 million, an increase of $80 million for the week and an increase of $385 million from the comparable date a year ago. 11.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Aug. 10, 1966 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances—"bought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total hought outright Held under repurchase agreements Total U. 5. Government securities Total loans and securities Cash items in process of collection Bank premises , Other assets i/ TOTAL ASSETS LIABTT TTTFS Federal~Reserve~notes Deposits: Member hank reserves U. 3. Treasurer—general account Foreign. Other f=/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES " 11,050 1>815 12,865 (863) 281 526 48 ± - 28 6 22 4 - 476 -- + + + + 10,289 15 25,326 6,476 42,106 31+2 42,448 43,022 181 — — zz - 181 16 - 197 - 673 +2,225 + 15 - 411 +1*092 +2,921 + 68 +2,989 +3,235 (l,407) 7,053 104 1,151 (2,270) 64,47b * 355 — + 42 -1,012 +1,140 + 3 + £9 +3,909 «• 180 +2,460 (863)37,922 322 529 15 900 181 719 171 234 12 +1,008 + 74 - 121 + 218 18,488 990 124 1+10 20,012 - 849 +1,179 (l,407) 5,023 208 (2,270) 63,165 - 371 5 -1,045 + 391 - 195 +3,835 C A P I T A L ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Change since Aug. 3, Aug. 11, 1966 1965 564 551 196 (2,270) 64,476 _JJ — -33 + 2 1 + 2 7 + 26 -1,012 +3,909 + Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 33.2$ .1$ - 4.5$ Contingent liability on acceptances purchased for foreign correspondents 269 + 7 + 121 * Figures in parentheses are the eliminations made in the consolidating process; I see comparable figures on combined basis on the following pages, -/includes assets denominated in foreign currencies and IMF gold deposited. £/Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 10, 1966 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements. ) U. S. Government securities Changes Discounts Discounts and and Within 15 days l6 days to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total advance i S 512 14 Acceptances 14 34 -- — — -- Holdings 7,486 4,793 14,798 13,622 1,352 ^^^^^ 397 526 48 42,448 d u r i n g week -109 - 29 - 59 -197 __ __ ~2_ STATEMENT OF CCHDITICN OF EACH FEDEEAL RESERVE BANK ON AUGUST 10, I966 H.4.l(t) Total Boston New York Philadelphia Cleve- Rich- Atlanta Chicago mond land (in millions of dollars) St. Louis Minneapolis Kansas Dallas City San Francisco A S S E T S 11,050 Gold certificate account 1,815 Redemption fund for F. R. notes Total gold certificate reserves 1 12,865 | 753 103 856 1,910 435 2,345 584 97 681 929 148 1,077 1,104 150 1,254 655 103 758 2,033 332 2,365 427 64 491 173 33 206 479 71 550 390 62 452 1,613 217 1,830 863 ! 1364 209 33 78 10 54 40 84 15 75 22 66 46 27 29 39 7 33 13 43 16 91 37 122 26 j 526 | Discounts and advances 48 Acceptances—bought outright 1 48 U. S. Government securities: Bought outright-2,588 Bills 10,289 537 1 Certificates 15 I 4 25,326 1,323 Notes 6,372 Bonds 1 6,4761 338 1,629 42,106 1 2,199 10,593 Total -342 Held under repurchase agreements 342 16 3 48 90 142 23 6 27 21 2 -- " " -- -- — -- 357 219 878 224 1,459 538 138 895 400 1 984 252 1,637 -- -- F. R. notes of other Banks Other cash - ' j 281 1 1 Total U. S. Government securities Total loans and securities Cash items in process of collection Eank premises Other assets 1/ TOTAL ASSETS -- 530 1 1,303 333 2,167 __ — 839 1 2,065 528 3,433 — 553 1,364 349 2,267 -- -- 1,728 2 4,253 1,088 7,071 — -* — 425 1 l,o46 267 1,739 -- 1,406 2 3,461 885 5,754 — 10,935 2,167 3,433 2,892 2,267 7,071 1,459 895 1,637 1,739 5,754 i 43,022 2,225 11,105 2,183 3,436 2,94c 2,357 7,213 1,482 901 1,664 1,760 5,756 627 668 1,317 8^ 5 57 718 20 54 20 146 4o6 8 32 272 3 21 433 10 47 933 10 128 5,320 5,023 4,co4 11,173 2,475 1,449 564 8 4i 2,873 2,761 8,785 42,448 2,199 1,151 44? 508 3 52 66,746 3/724 15,644 3,515 8,460 io4 516 1,498 l/ Includes assets denominated in foreign currencies and IMF gold deposited. 707 1 1,739 445 2,892 -- Less than $50C,0C0. 11.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK CN AUGUST 10, 1966 Total Boston New York Philadelphia Cleve - Richmond land Atlanta Chicago St. Louis Minneapolis Kansas Dallas City San" Francisco (In millions; of dollars) L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U.S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 38,785 2,324 8,835 2,233 3,229 3,488 2,239 7,035 1,441 719 1,471 1,256 4,515 18,488 990 124 410 20,012 761 87 6 710 64 6 l 781 1,341 85 11 1,08C 60 7 3 1,150 635 46 4 443 29 3 877 81 5 1,003 71 1,437 857 89 6 6 958 2,801 88 17 2 854 4,810 169 1/ 36 2/325 5,340 2,908 686 475 966 2 1,083 3,170 121 16 67 3,374 "" 6,430 471 1,075 421 522 493 525 999 296 220 372 341 695 11 53 10 3,445 16 5,204 ?6 11 3,925 10,978 7 2,430 5 1,419 8 2,817 Q 4,952 2,689 29 8,613 30 30 10 51 50 15 29 28 14 81 79 35 20 19 6 14 25 24 7 33 32 7 73 72 27 2,,475_ 1.449 _.2,.873 _2?76l 8.785 208 65,435 * 3,660 15,303 11 * 7 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES ANT CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 1 564 i 196 1 : 27 27 10 146 144 51 66,746 ! .3J.I2.4_. 15,644 269__ ; 13_ -/ 70 41,624 2,474 9,509 6,662 36 35,998 500 1,000 2,016 8,700 42,696 2,516 9,700 3,5.15- 5,320., 5,02.3 4,oo4 -11,173 as_ 24 l4_ 16_ 9_ FEDERAL RESERVE AGENT'S ACCOUNTS 3,702 7,^80 3,518 2,453 2,371 1,533 i£_ 6cc 930 2,000 3,cco 2,513 3,600 500 13 450 1,100 2,812 2,o.75._ 6,50c 315 23 1,310 3,742 2,525 7,600 1,648 1/ After deducting $ 88 million participations of ether Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $199 million participations of other Federal Reserve Banks. 35 33 11 13 3 6 12 16 763 1,581 1,368 4,872 127 225 180 735 655 1,400 1,230 4,300 782 1,625 i,4io 5,035 * Less than $500,000. . ...35 ..
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