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FEDERAL RESERVE Factors Affecting B o n k Reserves a n d Condition Statement of F.R. B a n k s H.lf.l"" For immediate release December 10/ 1964 The average of daily figures of total member bank reserves held during the week ended December 9 decreased $246 million to $21,148 million. Estimated currency and coin of member banks decreased $143 million and their reserve balances at the Federal Reserve Banks decreased $103 million. Estimated required reserves decreased $133 million; and estimated excess reserves decreased $113 million to $215 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $93 million, compared with the revised figure of minus $47 million the week before, when excess reserves were less than member bank borrowings. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $253 million in member bank borrowings and $57 million in Treasury currency outstanding, and increases of $3^5 million in n othern F. R. accounts (net), $200 million in currency in circulation, and $46 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $668 million in U. S. Government securities bought outright and $90 million in Federal Reserve float, and a decrease of $38 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $511 million. As of Wednesday, December 9, holdings of U. S. Government securities bought outright were $332 million lower than a week earlier and member bank borrowings were $94 million higher. Outright holdings of bills decreased $385 million; notes and bonds increased $32 million and $21 million, respectively. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U, S. Government securities— Bought outright—System account Held under repurchase agreements Acceptances— Bought outright Held under repurchase agreements Discounts and advances-Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Currency in circulation Treasury cash holdings Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other deposits with P. 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) Averages of daily figures Week ended Change from week ended Wednesday, Dec. 9, Dec 9, Dec. 2, Dec. 11, 1964 1964 1964 1963 (In millions of dollars J 37,335 48 23 122 2 1,950 +668 +3,576 - "90 37,039 + 4 + + 4 18 49 9 + 2 244 397^0 -253 + 90 +511 15,387 5,400 60,268 - 57 ^55~ 7 31 51 +3,535 - 195 - 186 +3,155 39,476 571 873 186 186 1,231 42,523 +200 +15 + 46 - 38 - 10 +345 +558" +1,989 + 183 + IT + ^3 16 37 +2,160 17,745 3,403 21,148 20,933 215 -103 -143 ^2SS -133 -113 + 975 +_179 +1,129 + 25 2 1,534 387^77 15,388 5,397 59~^2 39,717 585 1,118 148 I83 , I,!??, 42, » ^ 16,774 3,836 20,610 20,880 - 270 On December 9, 1964, U. S. Government securities held in custody by the Federal Resex-ve Banks for foreign account were $8,335 million, an increase of $231 million for the -week and a decrease of $249 million from the comparable date a year ago. H-4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Dec- 9, ,1964 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements U. S. Government securities: Bought outright — Bills Certificates Notes Bonds Total "bought outright Held under repurchase agreements Total U. S» Government securities Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS (423) Cheinge, since Dec. 11, Dec. 2, ,1964 1963 13,53^ 1,5^7 15,C«3 - 19 + 11 - 8 - 368 + - 151 217 HI - 11 + 94 - 96 - 75 2h6 + 9 + 4 - 21 6,511 -385 -- •« 25,188 5,27^ 37,039 + 32 + 21 -332 +2,423 -7,066 +7,^59 + 629 +3,445 37,039 ^332 +3i_442 37,3^3 -255 +3,375 (1,215) 5,702 -713 - 102 584 -- 2 (1,638) 58,925 +203 -784 + 272 +3,216 (423) 34,711 +346 +2,342 16,774 l.ll8 -935 +501 -133 - 7 -574 -583 + 2 -809 + + 589 51 - 16 49 -- 148 183 18,223 (1,215) 4,168 134 (1,638) 57723^ 4 4 3 522 990 171 + 25 (1,638) 5"8,925 -784 --- 116 12 + 612 + 119 + 37 +3,110 + 30 + 56 + 20 +3,216 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages—not consolidated) 28.3$ -*1# - 2.1$ Contingent liability on acceptances purchased for foreign correspondents 12^ - 1 + 2 5 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages* MATURITY DISTRIBUTION OF LOANS AMD SECURITIES, DECEMBER 9, 196^ (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 Discounts and Changes during week Holdings Acceptances advances 15 -273 Within 15 days 2kk 619 • 3 16 days to 90 days 2 42 3,799 -109 91 days to 1 year 17,023 + 33 Over 1 year to 5 years 13,170 + 15 Over 5 years to 10 years 2,133 + 3 Over 10 years 295 T332 Total 2% 37/039 5H H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH DECEMBER 9, 1964 Total Boston New York Philadelphia Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas City San Francisco (In millions of dollars) A S S E T S Gold certificate account Redemption fund for F. R- notes Total gold certificate reserves Cleveland 13,536 1,547 15,083 643 88 731 3,333 357 3,690 717 85 802 1,057 137 1,194 423 111 24 5 167 24 15 3 17 7 Discounts and advances 2-46 Acceptances: Bought outright 49 Held under repurchase agreements 9 U. S. Government securities: Bought outright-Bills 6,577 Certificates Notes 25,188 Bonds 5,274 Total 37,039 Held under repurchase agreements 13 33 F. R. notes of other Banks Other cash • 1,006 .1251,131 24 10 746 842 2,354 283 2,637 471 62 533 271 27 298 569 60 629 472 _5P_ 522 38 30 20 4 11 4 21 2 42 16 10 14 5 21 14 8 7 1 143 3A. 1,897 177 2,074 49 9 347 1,621 358 551 463 368 1,107 254 129 257 256 866 1,330 279 1,956 6,206 1,299 9,126 1,371 287 2,016 2,109 442 3,102 1,773 371 2,607 1,410 295 2,073 4,238 887 6,232 972 204 1,430 493 103 725 985 206 1,448 982 206 1,444 3,319 695 4,880 • Total U. S. Government securities 37,039 1,956 9,126 2,016 3,102. .2,607.,,__2,0T3_._ 6,232 1,430 725 l,W 1,444 4.880 Total loans and securities 37,343 ' 1,969 9,217 2,019 3,105 2,609 2,081 6,375 1,434 739 1,455 1,451 4,889 481 3 29 1,270 8 152 412 3 32 496 6 52 534 5 32 566 18 33 1,073 22 87 34o 6 21 232 13 453 6 26 331 11 30 729 10 77 60,563 i 3,242 14,528 3,286 4,877 ^,3^5 3,588 10,245 2,353 1,310 2,584 2,368 7,837 Cash items in process of collection Bank premises Other assets TCTAL ASSETS 6,917 102 584 4 H. 4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 9, 1964 Total 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 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign corre spondent s Boston Philadelphia Cleveland Richmond St. Louis Minneapolis Kansas Dallas City San Francisco 35,134 2,065 8,238 2,053 2,993 2,988 2,055 6,342 1,404 612 1,348 1,077 3,959 16,774 1,118 148 183 16,223 589 81 7 707 74 8 1 790 1,184 100 13 * 1,297 764 75 7 6 852 890 78 8 1 977 2,635 114 21 2 2,772 585 39 5 # 629 423 46 3 1 473 779 74 6 4 863 851 65 677 4,548 218 1/42 "114 4,922 1 925 2,819 154 20 53 3,046 5,383 412 893 342 425 408 451 865 257 184 295 264 587 134 58,874 7 3,l6l 33 14,086 7 3,192 11 4,726 10 7 3,490 22 10,001 5 2,295 3 1,272 5 2,511 6 2,272 18 7,610 31 56 11 74 140 30 18 34 6 12 23 3 23 43 7 3C 57 9 70 132 25 3,588 10,245 2,353 1,310 2,584 2,368 7,831 4 3 5 4,258 522 990 177 25 47 9 137 264 41 29 55 10 60,563 3,242 14,528 3,266 124 6 £/33 7 8,768 1,720 7,200 2,155 8,920 47 90 14 4,877 26 49 12 4,345 18 7 FEDERAL RESERVE AGENT'S ACCOUNTS 17 11 6 2,108 3,177 3,070 2,155 6,601 1,477 630 1,397 1,154 4,136 440 2 1,800 2,242 50c 340 1,ICO 280 4 112 225 180 735 2,700 615 2 2,490 1,850 5,6cc 535 1.20C 1X00 ^.700 3,200 3,107 2,190 6,70c 647 1,425 1,180 4,435 1/ After deducting $ i c 6 m i l l i o n p a r t i c i p a t i o n s of other Federal Reserve Banks. 2 / After deducting $ 91 m i l l ion p a r t i c i p a t i o n s of other Federal Reserve Banks. Atlanta Chicago (in millions of dollars) F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral New York 1,544 7_ *Less than $500,000.
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