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.•M3£5&-. '•f^LRE^V FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate^ release February 27/ 1 9 ^ H.^.l The average of daily figures of total member bank reserves held during the week ended February 26 decreased $139 million to $20,03^ million. Estimated currency and coin of member banks decreased $19 million and their reserve balances at the Federal Reserve Banks decreased $120 million. Estimated required^reserves decreased $38 million; and estimated excess reserves decreased $101 million to $323 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $123 million, compared with the revised figure of $133 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $137 million in holdings of U. S. Government securities and $91 million in member bank borrowings, and an increase of $91 million in "other" F. R. accounts (net). The principal offsetting changes were decreases of $161 million in currency in circulation and $76 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $242 million. As of Wednesday, February 26, holdings of U. S. Government securities bought outright were $212 million higher than a week earlier and member bank borrowings were $501 million higher. Member bank reserves. Reserve Bank credit, and related items t Reserve Bank credit: U. S. Government securitiesBought outright--System account Held under repurchase agreement Ac ceptances--bought outright Discounts and advances-Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Averages of daily figures Week ended Change from week ended Feb. 27, Feb. 19, Feb; 26, 1963 196k 1964 (In millions of dollars) +2,389 61 -112 - 25 - 3 200 - 91 -- __ + 5 -238 + 71 - 30 + 239 +2,627 - 451 + 18 +2,195 32,750 1,835 34,846 15,462 5,588 55,896 - 11 -242 -- - Wednesday^ Feb. 26, 196k 32,932 kk 62 574 1 -- 1,375 34,943 15,463 5,586 55,992 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) 36,308 439 903 147 197 1,051 39,044 -161 + 19 - 76 + 23 - 12 + 91 -118 +2,080 - 15 + 102 - 83 - 117 - 74 +1,892 36,320 458 825 135 196 1,043 38,977 Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 16,852 3,182 20,034 19,711 323 -120 - 19 -139 - 38 -101 + + + + - 17,015 3,536 302 255 557 701 144 20,55-1 19,744 1 807 On February 26, 1964, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account vere $8,796 million, an increase of $12 million for the week and an increase of $l,68l million from the comparable date a year ago. H.k.1(a) CONSOLIDATE! STATEMENT OF CONDITION OF THE TWELVE FEDERAL KSSERV'E B A M S (in millions of dollars) Feb. 26, 19 ASSETS 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 bought outright Held under repurchase agreement 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 hank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred a v a i l a b i l i t y cash items Other l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES 13,75^l,4ll 15,165 (697) (1*3$3) (1,890) (697) (1,193) ( l , 890) 289 57^ 62 3,491 3,265 21,621 4,555 32,932 , ZZ. 32,932 33,568 5,301 102 $26 5^,951 31,183 Change since Feb. 19, Feb. 27, 1964 1963 - k + 578 148 7"X r~-"T?3o - 4 +501 + + +212 + 1,163 -10,315 +11,332 + 391 + 2,571 Jl___^2,i + 2,43+ + 2;cc9 +212 II +212 +713 -9^5 119 450 5 + 35 'I^5 - 96 17,015 +^26 825 -119 1 3 5 - 6 196 - 3 18,171 +298 3,926 -473 88 + 6 53,368 ^255 + 1,93^ + + + + '+ 519 66 87 11 1*23 ^ 18 2,361 CAPITAL A C C O U N T S Capital paid in 507 + 2 -1- 33 Surplus 990 ~+ ; 56 Other capital accounts 86 _+_l8 + ? TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,890) 5^,951 -2K5 +' 2,^59 Ratio of gold certificate reserves to deposit and P. R. note liabilities combined (computed from figures as shown on the following pages—not consolidated) 30-3$ -.1$ - 2-5$ Contingent liability en acceptances purchased for foreign correspondents 9 2 - 1 + 8 * 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 AND SECURITIES, FEBRUARY 26, 1964 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government securities Changes Discounts and Ac< ^eptances Holdings during week advances - 50 21 Within 15 days 572 603 +187 2 16 days to 90 days 8,079 4l --9,815 91 days to 1 year + 75 ~--12,1^9 Over 1 year to 5 years ... -2,067 Over 5 years to 10 years --219 -Over 10 years Total "575 "52 32,932 +212 H.4.l(b) STATEMENT OF CXJNDTTXDH^OF E&CH FEDERAL BESERVE BAHK ON FEBRUARY 26, 1961* Total New York Boston _JL Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minne- Kansas Dallas apolis City San Francisco (in millions of d o l l a r s ) ASSETS § Gold certificate account I 13,754 Redemption fund for F. R. notes J l,4ll_ Total gold certificate reserves 1 15A65 ; 713 79 792 3,873 336 4,209 742 76 818 1,019 123 1,142 864 116 980 685 85 770 2,261 258 2,519 510 60 570 293 28 321 518 54 572 51 21 176 69 57 15 57 20 38 19 86 23 58 35 23 13 42 10 2 230 Piscounts and advances frj 4 574 ! Acceptances: r Bought outright l 62 U. S. Government securities: [ Bought outright-f Bills |\ 3,491 184 175 873 Certificates }! 3,265 172 164 817 Notes I 121,621 1,C66 5,4c8 i,l4o Bonds |j 4 . 5 ^ , 240 229 ._ Ll4o.. Total f[32,932 1,654 8,238 1,736 Held under repurchase agreement 1 9 39 31 130 12 288 269 1,783 ^75 2,715 237 222 1,469 ^oq 2,237 191 178 1,181 138 129 852 1,799 589 551 3,649 76Q 5,556 — ' F. R. notes of other Banks Other cash ' f\ | rj J 697 289 494 44 1,782 .538 1,934 15 12 4c ^4 Q *3 * 39 16 62 71 143 134 138 129 855 464 4^4 152 62 24Q 885 170. 1,298 66 437 0? 666 2,870 6n6 1,349 18a 1,302 4,^80 187 i Total p. S. Government securities J ^2^132 1,654 8,238 1,736 2,715 2,237 1,799 5,558 1,298 666 1,349 1.302 4.38c Total loans and securities 1,658 8,530 1,738 2,724 2,276 1,830 5,688 1,310 666 1,388 1,318 4,442 1,215 8 136 380 3 28 478 6 46 430 5 31 510 17 29 1,116 22 81 285 6 20 184 4 11 367 6 23 357 12 26 715 10 3,039 4,473 3,779 3,265 9,519 2,227 1,238 2,383 2,300 7,267 Cash items in process of collection Bank premises Other assets TOTAL ASSETS 33,568 6,494 | 102 1 526 56,841 457 3 26 3,008 14,343 * Less than $500,000. 69 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 26, I96I+ H. h.1(c) Total Boston New York Philadelphia D e f e r r e d a v a i l a b i l i t y c a s h items Other l i a b i l i t i e s and accrvled dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l a c c o u n t s TOTAL LIABILITIES AND CAPITAL ACCOUNTS C o n t i n g e n t l i a b i l i t y on ace: e p t a n c e s purchased f o r f o r e i g n c o r r e spondent s Richmond St. Louis A t l a n t a Chicago Minne- Kansas apolis City Dallas San Francisco 953 3,1*6** ( i n m i l l i o n s of d o l l a r s ) L I A B I L I T I E S F e d e r a l Reserve n o t e s Deposits: Member hank r e s e r v e s U . S . T r e a s u r e r - g e n e r a l ac: count Foreign Other Total deposits Cleveland 31,880 1,873 7,730 1,855 17,015 825 135 196 18,171 5,119 612 1*3 6 * 661 395 k,9k6 I83 726 lA7 2,731 2,608 1,822 5,7**9 1,298 581 1,23.6 59U in k 1 1*0U 762 35 5 2 5,317 856 6 l 781 310 1,095 56 11 * 1,162 >+31 6801*3 6 3 732 353 867 57 7 1 932 klj 2,5**0 115 17 3 2,675 851 h 88 55,258i 1 2,933 21 13,92^ 5 2,951 7 ^,331 6 3,699 5 3,176 15 9,290 507 990 86 2k hi k 135 26^ 20 28 55 5 k6 90 6 k9 6 29 56 h 56,8)a 3,008 1^,3^3 3,039 M73 3,779 92 5 _^L 5 8 5 —mo~ 231 3 * 1*61 158 8o¥~ 290 916 2,873 95 55 16 7 * 978"" 3,028 27k 553 h k 2,173 2 1,202 2,31^ 2,209 72 1U0 17 17 3'* 3 12 23 1 22 *K3 k 30 57 h 67 132 12 3,265 9,519 2,227 1,238 2,383 2,300 7,267 5 13 3 2 h 5 12 6,032 1,361* 605 1,261 1,030 3,651 1,100 112 75c 500 272 39 1,100 180 5,177 250 12 1,210 900 3,200 6,277 l,Vf2 612 1,1m 1,080 3,950 h 11 7,056 " FEDERAL RESERVE AGENT'S ACCOUNTS F . R. n o t e s o u t s t a n d i n g C o l l a t e r a l f o r F . R. n o t e s : Gold c e r t i f i c a t e account E l i g i b l e paper U. 5 . Government s e c u r i t i e s total collateral 33,621 6,607 53 28,387 35,oU7 1,962 1+23 1,580 2,003 8,2'+2 1,920 2,937 1,650 425 2 1,600 500 605 2,550 3,050 2,170 6,750 8,^00 2,027 2,599 - T 7 9 I S - 2,775 1/ After deducting $ 88 million participations of other Federal Reserve Banks. 2/ After deducting $ 67 million participations of other Federal Reserve Banks. 3**0 1,650 1,990 * Less than $500,000.
@FedFRASER