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FEDERAL ^f^T^** RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release December 29, I966 H.4.1 The average of daily figures of total member bank reserves held during the week ended December 28, increased a net of $286 million to $24,l6l million. Estimated currency and coin of member banks decreased $103 million and their reserve balances at the Federal Reserve Banks increased $3^9 million. Estimated required reserves increased $46 million; and estimated excess reserves increased $2^0 million to $436 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $112 million, compared with the revised net borrowed figure of $276 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $315 million in U. 8. Government securities held under repurchase agreements, $137 million in U. S. Government securities bought outright, and $106 million in Federal Reserve float. The principal offsetting changes were increases of $1^9 million in Treasury deposits with Federal Reserve Banks and $98 million in currency in circulation. Total Reserve Bank credit increased $660 million. As of Wednesday, December 28, 1966, holdings of U. S. Government securities bought outright were $12 million higher than a week earlier and member bank borrowings were $666 million higher. Outright holdings of bills decreased $5 million, notes and bonds increased $10 million and $7 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 Federal Agency obligations-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 F. R. Banks Other P. R. accounts (net) Average of daily figures Week ended Change from week ended Wednesday, Dec. 28, Dec. 21, 1 Dec. 29, Dec. 28,• 1966 1966 1966 1 1965 (In aaillions of dollars) +137 +315 +2,632 + 437 43,263 658 26 *- 3 26 51 69 115 + 3 + 22 <• 3 f 49 69 113 548 11 + 76 - 2 +106 + 2 35 + 64 +3,179 - 627 + 712 +3,265 43,263 2,777 47,468 13A59 6,297 66,924 44,773 1,191 352 154 425 52 46,947 Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 19,977 4,184 24,l6l 23,725 436 +666 + 1 + 6 766T + 98 + 3 +149 - 1 + 9 + 20 +278 +389 -103 +286 + 46 +240 +2,425 + 374 - 335 672 957 — 2,423 47,548 13,159 6,301 67,008 44,952 1,196 249 168 415 58 5 + 199 - 297 +2,361 + 903 + 178 +1,081 +1,108 27 47,038 19,970 4,959 24,929 23,963 On December 28, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $J,6k2 million, an increase of $118 million for the week and a decrease of $7^2 million from the comparable date a year ago. 966 H. 4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (in millions of dollars) Change since .Dec. 28; Dec. 21, Dec. 29, 1966 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations-Held under repurchase agreements U« S. Government securities: Bought outrightBills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities (681) Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts 1965 - 868 + 110 10,836 1,842 12,678 295 957 + 4 + 653 69 113 8 4 22 51 27 51 11,411 4,351 21,302 6,199 43,263 672 43,935 45,125 (1,972) 7,980 Cash items in process of collection Bank premises 107 Other assets l/ 1,376 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,653) 67^561 L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other 2/ Total deposits 1966 (681) 39,661 19,970 249 168 415 20,802 (1,972) 5,557 256 (2,653) SS7276 570 551 164 + + + + + + + + 176 417 5 +2,158 -- +M51 10 7 12 4 -3,526 - 351 +2,632 + 414 +3,046~ +3,532 ~IS 588 -1,,458 + - "7g9 + 819 + 4 + 403 +4,176 + 133 +2,297 + 250 - 63 + 16 + 6 + 209 +1,228 - 284 + 9 + 188 +1,141 -1,130 + 611 + 50 +4,099 — 18 — - 788 1 — 38 + + + 22 27 28 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on 31-4$ the following pages—not consolidated) .2$ 3-9$ Contingent liability on acceptances purchased 192 5 + 49 for foreign correspondents in the consolidating ;process. * Figures in parentheses are the eliminations made i 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 28, 1966 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximiam maturity of the agreements.) U. S. Government securities and Federal Agency obligations Discounts and Week!ly changes advances Acceptamces Holdings Within 15 days 953 123 -319 1,893 16 days to 90 days 4 59 8,629 +565 91 days to 1 year 24,613 -215 7,458 Over 1 year to 5 years + 7 + 1 Over 5 years to 10 years 991 + 4 Over 10 years 402 43,986 + 43 Total 957 182 E.4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 28, i960 Total ' • '• - . . . . - , - , . Boston New York Philadelphia . A S S E T S Gold c e r t i f i c a t e account Redemption fund f o r P. R. n o t e s T o t a l gold c e r t i f i c a t e r e s e r v e s C l e v e - R i c h - A t l a n t a Chicago land mond m i l l i o n s 5 of d o l l a r s ) (in St. Louis 10,836 1,81+2 12,678 700 101 801 2,5l4 kkk 2,958 678 96 774 864 156 1,020 1,065 l60 1,225 519 103 622 1,832 332 2,161+ 378 61+ F. R. n o t e s of o t h e r Banks Other cash 681 295 1+1+ 8 160 30 29 6 77 1+8 69 16 63 37 D i s c o u n t s and advances Acceptances: Bought o u t r i g h t Held u n d e r r e p u r c h a s e agreements F e d e r a l Agency o b l i g a t i o n s — Held under r e p u r c h a s e agreements U- S. Government s e c u r i t i e s : Bought o u t r i g h t - Bills Certificates Notes Bonds Total Held u n d e r r e p u r c h a s e agreements 957 35 1+76 ll+ 9 k9 69 113 -- 69 113 -«. 1 1 , i+ll 4,351 21,302 6,199 43,263 672 608 232 1,135 330 2,305 _.- 2,850 1,086 5,320 1,51+8 10,801+ 672 592 226 1,105 322 2,21+5 -- T o t a l U# S. Government 43,935 2,305 11,^76 45,.125 2,34o securities T o t a l l o a n s and s e c u r i t i e s Cash i t e m s i n p r o c e s s of collection Bank p r e m i s e s Other a s s e t s l / TOTAL ASSETS 70,2ll+ 1+51+ 1+1+2 67 k7 2k 31 19 8 23 203 26 -.- -- -- -- -- 929 354 1,733 50I+ 3,520 -- 821+ 3l4 1,539 1,950 1+01 71+1+ 152 227 87 3,61+0 1,059 7,393 -- 71+8 3,125 -- 655 250 1,224 356 2,1+85 -- 218 1,519 -- 2,21+5 3,520 3,125 2,1+85 7,393 12,185 2,259 3,529 3,174 2,508 7,596 653 3 57 1,758 9 515 553 3 62 619 5 103 878 6 65 802 20 69 1,631 20 173 3,9C6 17,615 3,686 5,1+01 5,433 4,121 11,698 San Francisco 1+1+9 1,269 220 1,^89 22 11+ 31 18 76 32 1+0 # 78 -- --- -- 1+27 396 151 74o 215 1,502 -- 1,552 592 2,897 863 -- 163 796 232 1,618 -- 1,519 863 1,618 1,502 5,884 1,545 867 1,658 1,502 5,962 543 10 61 975 9 154 2,6ll+ 8,697 1+ 72 526 387 62 51 1/ Includes assets denominated in foreign currencies and IMF gold deposited Kansas D a l l a s City 176 32 208 51 9,952 i 107 i 1,376 1 Minneapolis 1+1+8 1+95 8 1+1 2,586 1+25 12l+ 285 3 27 l,4i7 760 11 k9_ 3,01+0 *Less than $500,000. 81+3 5,881+ -- STATEMENT OF COWCITIOK OF EACE FEDERAL RESERVE BANK ON DECElvffiER 28, I966 E.4.1(c) 1 Total T T / \ r > T T Boston New York Philadelphia CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace eptances purchased for forei gn correspondents Atlanta 7— St. MinneKansas j Louis 1 apolis City E a l l a s 1 IChicago San Francisco (In millions of dollars) T U I T T P C Federal Reserve notes Deposits : Member bank reserves U.S. Treasurer--general a ccount Foreign Other Total deposits Deferred availability cash items Other liabilities and accru ed dividends TOTAL LIABILITIES Cleve- Richland j mond 9,257 2,312 3,337 3,696 2,333 7,317 1,^75 708 1,506 1,283 0,067 241 1/ 50 2/350 6,708 1,238 825 # 9 2 836 460 1,383 1 14 * 1,398 532 908 1 8 3 920 731 1,068 1 9 1 1,079 617 2,913 1 23 1 2,938 1,213 707 * 6 * 898 966 * 1 713 346 450 * 4 2 456 217 12 3,844 78 17,281 10 3,618 20 5,287 11 5,364 14 4,043 41 11,509 8 2,542 O 1,387 9 2,984 9 2,542 32 8,528 570 551 164 27 27 8 148 144 42 30 30 8 51 50 30 28 11 35 33 10 83 79 27 20 19 5 14 13 3 25 24 7 33 32 7 74 72 23 70,21** 3,906 17,615 3,686 5,4oi 5,433 4,121 11,698 2,586 1,417 3,o4o 2,6l4 8,697 2_ 3./ 50 10 10 12 27 7 5 9 11 25 40,342 2,4o4 19,970 249 168 415 20,802 7,529 809 1 8 * 818 610 256 68,929 192 17_ 7 3 908 561 4,714 2,976 2 21 9 2__ 51 3,050 978 732 272 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 2,469 9,693 2,361 3,580 3,795 2,2+56 7,652 1,51+0 737 1,582 1,376 4,949 500 1,000 795 „ 3,045 450 „ 2,050 1,100 „ 6,700 310 26 1,110 225 180 735 8,900 600 „ 3,050 127 2,016 500 9 2 ? ooo 655 1,400 2,516 9,900 2,509 3,650 3,84c 2,500 7,800 1,646 782 1,625 1/ After deducting $118 million participations of other Federal Reserve Banks. 2/ includes IMF gold deposit. J3/ After deducting $142 million participations of other Federal Reserve Banks, * T ess than $500,000. JLJJ£0_ l,4io AL.6CO. 5,335
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