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FEDERAL RESERVE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks For immediate release February 10, 1966 H.4.1 The average of daily figures of total member bank reserves held during the week ended February 9 decreased a net of $l68 million to $22,374 million. Estimated currency and coin of member banks decreased $295 million and their reserve balances at the Federal Reserve Banks increased $127 million. Estimated required reserves decreased $205 million; and estimated excess reserves increased $37 million to $383 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $120 million, compared with the revised net borrowed figure of $72 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $409 million in U. S. Government securities bought outright, $160 million in U. S. Government securities held under repurchase agreements, and $85 million in member bank borrowings, and a decrease of $26 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $236 million in Federal Reserve float, and increases of $173 million in "other" F. R. accounts (net), $115 million in currency in circulation, and $45 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $420 million. As of bought outright securities held borrowings were Wednesday, February 9, holdings of U. S. Government securities were $78 million higher than a week earlier, U. S. Government under repurchase agreements were $59 million lower, and member bank $172 million lower. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securitiesBought 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 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) Averages of daily figures Week ended Change from week ended Feb. 10, Feb. 2, Feb. 9, 1965 1966 1966 (in millions of dollars) Wednesday, Feb. 9, 1966 40,677 387 4o,708 409 +409 +160 +3,575 + 270 72 42 - 1 + 4 + - 13 22 73 36 503 20 1,671 43,425 13,73*+ 5,646 62,805 + 85 + 31 25 + 199 +4,o4i -l,311 + 255 +2,985 423 20 4i,196 833 879 152 235 713 44,008 +115 + 2 + 45 - 26 +2,555 + 154 45 -- + 28 - 445 +2,247 44,172 18,796 3,578 22,37^ 21,991 383 +127 -295 -168 -205 + 37 + 736 + 326 +1,062 +1,176 18,264 3,936 22,200 21,867 - u4 333 - l -236 +420 + 2 + 14 +436 +173 +308 — 1,438 43,054 13,734 5,648 62,436 41,329 835 925 142 234 707 On February 9, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,906 million, an increase of $139 million for the week and a decrease of $40 million from the comparable date H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets A/ TOTAL ASSETS Feb. 9, 1966 Change since Feh. 2, Feb. 10, 1966 1965 11,696 1,731 13,427 172 443 - 9 - 9 + 4 -172 73 36 + l + - 9,299 + 78 +2,628 24,828 6,550 40,677 387 41,064 41,616" — -+ 78 - 59 + 19 -152 - 360 +1,276 +3,544 + 278 +3,822 +4,099 6,238 102 645 (2,419) 527200 -230 -+ 23 + 590 (1,051) (1,368) 33 -1,396 + 177 -1,219 f 299 15 37 -- + 81 +J3,551 L I A B I L I T I E S Federal Reserve notes (l,05l) 36,381 +l62 +2,444 Deposits: + 929 Member bank reserves 18,264 -640 + 18 U- S. Treasurer--general account 925 -114 1 Foreign ±k2 - 25 + 42 Other =/ 234 - 2 + 988 Total deposits 19,565 ^781 Deferred availability cash items (1,368) 4,800 +222 + 501 Other liabilities and accrued dividends 186 + 5 459 ,474 +3 TOTAL LIABILITIES (2,4l9) 60,932 ^392 CAPITAL A C C 0 U 1 T S + 27 Capital paid in 556 + 1 + 27 Surplus 55I + 23 Other capital accounts l6l + 27 +3,551 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,4l9) £27200 T ^ Ratio of gold certificate reserves to F. R- note liability (computed from figures as shown on - 1 6.3* the following pages--not consolidated) 35«9$ -.1$ Contingent liability on acceptances purchased for foreign correspondents I38 + 4 + 18 * Figures in parentheses are the eliminations made in the consolidating process; . see comparable figures on combined basis on the following pages, i/lncludes assets denominated in foreign currencies and IMF gold deposited. ^Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. FEBRUARY 9, 1966 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements. ) Discounts and advance:s Within 15 days 420 16 days to 90 days 23 91 days to 1 year — Over 1 year to 5 years — Over 5 years to 10 years -Over 10 years -Total m M ceptances 55 — — — __ 109 U. S. Government securities Change s Holdings during week 3,803 +36 4,012 -85 +68 17,349 l4,c66 — 1,449 — — 385 +19 IaJoOT STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 9, 1966 H.U.I (Ta) ——___Total |Boston New York Philadelphia Cm A S S E T S Gold certificate account 11,696 1 Redemption fund for F. R. notes 1.731 1 Total gold certificate reserves 13,^27 | F. R. notes of other Banks Other cash 757 98 855 1,051 1 84 172 13 wo Discounts and advances 31 Acceptances: Bought outright 73 " Held under repurchase agreements " 36 U. S. Government securities: Bought outright-Bills U89 9,299 Certificates -~Notes 24,828 1l,305 Bonds 6,550 344 Total 4o, 677 2,138 Held under repurchase agreements 3b? -Total U.S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets l/ TOTAL ASSETS Cleveland j Rich- Atlanta Chicago mond millions; of dollars) 1,056 147 1,136 2,606 792 92 884 1,203 252 26 67 6 59 Minneapolis Kansas Dallas City San Francisco 1,282 722 98 820 2,279 316 2,595 436 6^ 499 182 ^1 213 408 67 475 314 s6 370 2Q-3 1,625 89 16 96 15 111 20 97 22 44 9 32 6 31 9 63 9 85 21 3 3 16 25 106 10 3 102 6 79 73 36 --- --- — -- -— -— -— --- --- --- --- 2,298 -6,135 1.619 10,052 387 476 -1,271 335 2,082 -- 765 -2,o4i 635 1,535 -4,100 JU£8j 6,716 -- 345 -922 24^ 201 -537 372 -992 T42_ 262, 1,626 -- 388 -1,036 273 1,697 -- 1,273 448 2,779 -- 522 -1,394 368 2,284 -- 2,192 klk -5.32. 3,345 „ 146 __ 1,696 1,510 -- 880 -- l,te2 -- 3,399 8Q6 5,568 -- 41.064 2.1^8 io. top 2.082 -^^5 2,770 ?, ?84 6.71 6 ij^in PRn i,6?fi 1 607 5.568 41,616 2,169 10,607 2,085 3,348 2,795 2,309 6,822 1,520 883 1,728 1,703 5,647 7,606 102 645 523 3 31 1,403 9 189 474 642 5 37 665 20 34 1,217 35 505 5 51 20 94 358 7 22 245 3 15 457 7 27 370 10 28 747 10 82 64,619 3,678 15,092 3,554 5,217 4,872 3,979 10,867 2,459 1,397 2,734 2,553 8,217 1/ Includes assets denominated in foreign currencies and IMF gold deposited. St. Louis H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 9, 1966 Total Boston New York Philadelphia Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Fran Cisco (In millionE5 of dollars) L I A B I L I T I E S Federal Reserve notes 37,432 Deposits: Member "bank reserves 18,264 U.S. Treasurer--general iaccount 925 Foreign 142 Other 2^4 Total deposits 19,565 Deferred availability cash items pther liabilities and accrijed dividends TOTAL LIABILITIES Cleveland 2,238 8,479 2,2C6 3,188 3,360 2,192 6,798 1,427 695 l,4ll 1,183 4,255 779 813 46 8 2 869 1,362 836 85 13 1 1,442 2,710 119 20 1 2,850 57 5 1 697 432 39 3 1 475 863 47 6 2 918 925 58 8 l 992 2,995 90 18 934 1,107 60 8 2 1,177 634 66 402 460 498 523 1,003 284 194 343 300 613 48 10 U 3,902 10,682 7 2,415 4 1,368 7 2,679 8 2,483 8,05c 80 79 26 19 19 6 13 13 3 25 24 6 32 32 6 73 72 3,979 10,867_ 2,459 1,397 .2,734. 2,553 8,217 6 8 18 6,168 508 4,808 184 1/3? 2/164 5,195 i,o4o 186 63,351 10 3,616 14,762 9 3,486 14 5,104 12 4,804 556 551 161 27 27 8 145 144 41 30 30 8 50 50 13 29 28 11 64,619 3,678 15,092 . 3,554 5,217 4,872 138 T 1 74 7 860 I 3,156 ?6 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ac<:eptances purchased for fore:Lgn correspondents .._ _ _J66 8 L_ 12 33 33 11 8 20 5_ _3._ 22 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 9,033 2,302 3,456 3,537 2,392 T,26l 1,505 735 1,483 1,277 ^,595 1,000 500 2 1,900 2,402 6CC — 2,950 3,550 888 2,69^ 3,581 550 1,100 127 225 735 1,900 2,450 6.400 7,500 315 9 3,^10 1,634 ,4,3005,035 8,200 9,200 1/ After deducting $103 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. 3/ After deducting $102 million participations of other Federal Reserve Banks. 6?^ 1,^00 180 1.H0 752 1,525 1,310 * Less than $500,000.
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