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RESERVE
FEDEKAL
''?f^L«$£-
Factors Affecting Bank Reserves and
Condition Statement of F.R. Banks
For immediate release
January 5, 196j •
H.4.1
The average of daily figures of total member bank reserves held during
the week ended January 4, increased $4l9 million to $24,595 million. Estimated
currency and coin of member banks increased $280 million and their reserve" balances
at the Federal Reserve Eanks increased $139 million. Estimated required reserves
increased $497 million; and estimated excess reserves decreased $78 million to
$377 million. Member bank borrowings at the Federal Reserve Banks exceeded excess
reserves by $188 million, compared with the revised net borrowed figure of $93
million the week before.
The principal changes supplying average reserve balances with Federal
Reserve Banks was an increase of $434 million in U. S. Government securities
bought outright, and decreases of $l4k million in "other'' F. R. accounts (net),
and $117 million in currency in circulation. The principal offsetting changes were
decreases of $284 million in Federal Reserve float, and $152 million in U. S.
Government securities held under repurchase agreements, and an increase of $104
million in other deposits with F. R. Banks. Total Reserve Bank credit increased
$23 million.
As of
bought outright
securities held
bank borrowings
Wednesday, January 4, 1967, holdings of U. S. Government securities
were $657 million higher than a week earlier, U. S. Government
under repurchase agreements were $672 million lower, and member
were $758 million lower.
Member bank reserves,
Reserve Bank credit,
and related items
Reserve Bank credit:
U, G. Government securities-Bought outright—System account
Held under repurchase agreements
Federal Agency obligations-Held under repurchase agreements
AcceptancesBought 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)
Average of daily figures
Week ended Change from week ended[Wednesday,
Jan. 4,
Tec. 28,
Jan. 5>
Jan. 4,
1967
1966
19J"
1967
(In millions of dollars)
43,697
506
+434
-152
+3,090
+
83
43,920
27
27
71
132
2
17
3
21
79
148
565
1
2,493
47,491
13,159
6,308
63795^
44,656
1,206
375
167
529
+ 17
- 10
-284
+ 23
3
37
+ 127
+3,310
- 574
+ 725
+3,^61
199
2,358
46,704
13,159
6,308
+2,603
+ 4l8
- 237
+
1
+ 234
- 438
+2,582
44,624
1,211
267
153
446
.30
467571
-92.
46,842
+ 11
-117
+ 15
+ 23
+ 13
+104
-144
-105
SoTm
Member bank reserves:
19,^00
+ 879
With Federal Reserve Banks
20,ll6
+139
4,714
16
+ 446
+2
Currency and coin (estimated)
4,479
"°
247214
+1,325
Total reserves held
24,595
+4l9
24,290
+1,267
+
Required reserves (estimated)
24,218
I
-76
+
58
Excess reserves (estimated)
377
- 7°
On January 4, 1967, U. 3. Government securities held in custody by
the Federal Reserve Banks for foreign aceout were $7,113 million, a decrease
57 million from the comparable
of $529 million for the week and a decrease of rf;P,
date a year ago.
H. 4. 1(a)
CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS
(in millions of dollars)
Change since
Jan. 4, Dec. 28, Jan. 5>
I966
1966
1967
A S S E T S
Gold certificate account
Redemption fund for F. R. notes
Total gold certificate reserves
(856)
Cash
Discounts and advances
Acceptances:
Bought outright
Held under repurchase agreements
Federal Agency ohligations—
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
10,823
1,853
12,676
- 13
+ 11
+
- 2
291
199
- 4
-758
- 758
+ l6l
- 481
79
148
+ 10
+ 35
- 51
+
+
12,068
4,351
21,302
6,199
43,920
+657
+2,6l4
+4,351
-3,526
- 351
+3,088
- 658
+2,430
+1,984
43,920
44,346
Cash items in process of collection
,976) 8,170
Bank premises
107
Other assets l/
1,323
TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,832)
.832) 66,913
6
29
- 53
^648_
+1,095
+
4
+ 598
+3,084
(856) 39,335
-326
+2,268
19,500
267
153
446
-470
+ 18
- 15
±_3i
20,366
-436
- 877
+ 180
10
+ 178
- 529
(1,976) 5,812
240
+255
- 16
-523
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
Deferred availability cash items
Other liabilities and accrued dividends
TOTAL LIABILITIES
+657
-672
- 15
-779
+190
879
121
(2,832) 65,753
£ ■£ £ I £ £ L
A C C O U N T S
Capital paid in
Surplus
Other capital accounts
570
570
20
+ 19
-144
+l,26l
+ 48
+3,048
+
+
18
19
1
Ratio of gold certificate reserves to F. R. note
liability (computed from figures as shown on
the following pages--not consolidated)
+1-5&
- 3.9%
31.5*
Contingent liability on acceptances purchased
for foreign correspondents
185
+ 43
- 7
* Figures in parentheses are the eliminations made in the consolidating process,
l/ Includes assets denominated in foreign currencies and IMF gold deposited.
2/ Includes IMF gold deposit.
~
MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 4, I967
(Acceptances and securities held under repurchase agreements are classified as
maturing within 15 days in accordance with maximum maturity of the agreements.)
Discounts and
advances
196
3
Within 15 days
16 days to 90 &ays
91 days to 1 year
>s
Over 1 year to 5 years
Over 5 years to 10 years
jars
Over 10 years
Total
—
Acceptances
1ST
63
--
—
—
-—
199
227
U« S. Government securities and
Federal Agency obligations
Holdings
Weekly changes
984
-909
+316
8,9^5
25,l4o
+527
—
7,458
991
402
43,920
—
—
- 66
H.4.l(V
DATEMENT OF CCNIITICN OF FACE FELERAL RESERVE BANK CN JANUARY 4, 1967
Total
Boston
New
York
Phila
delphia
Cleve
land
Rich
mond
Atlanta (Chicago
St.
Louis
Kansas
Dallas
City
San
Fran
cisco
(In millions3 of dollars)
A S S E T S
10,823
1,853
12,676
507
102
609
2,343
444
2,787
551
96
647
74l
155
896
963
162
1,125
610
103
713
2,284
341
2,625
443
64
507
F. R. notes of other Banks
Other cash
856
291
59
9
203
28
44
6
95
49
81
16
85
37
80
46
31
31
Discounts and advances
Acceptances:
Bought outright
Held under repurchase agreements
Federal Agency obligations-Held under repurchase agreements
U. S. Government securities:
Bought outright
Eills
Certificates
Notes
Bonds
Total
Held under repurchase agreements
199
13
12
93
4
79
l48
79
148
Gold certificate account
Redemption fund for F. R. notes
Total gold certificate reserves
Minneapolis
2
C
163
32
195
24
0
--
464
72
536
454
62
516
23
13
43
17
88
31
10
#
45
1, 300
220
1,520
--
--
12,068
643
232
4,351
21,302 1,135
330
6,199
1+3,920 2,340
3,062
1,103
5,404
1,573
11,142
633
228
1,117
325
2,303
984
355
1,738
506
3,583
874
315
1,544
449
3,182
634
229
1,119
326
2,308
2,024
730
3,573
i,c4o
7,367
4l2
149
727
212
1,500
249
89
438
127
903
459
166
810
236
1,671
440
159
777
226
1,602
1,654
596
2,920
849
6,019
Total U. S. Government securities
^3,920 2,340
11,l42
2,303
3,583
3,182
2,308
7,367
1,500
903
1,671
1,602
6,019
Total loans and securities
44,346 2,343
11,382
2,306
3,585
3,187
2,320
7,46c
1,504
912
1,681
1,602
6,c64
Cash items in process of
collection
Bank premises
Other assets l/
10,l46
107
1,323
595
3
54
1,863
9
503
589
3
60
663
5
97
807
6
64
849
20
64
1,663
20
166
534
8
38
328
3
25
693
11
47
523
10
56
1,039
9
149
69,745 3,672
16,775
3,655
5,390
5,286
4,088
12,060
2,653
1,495
3,cc4
2,767
8,900
TOTAL ASSET'S
1/ Includes assets denominated in foreign currencies and IMF geld deposited.
* Less than $500,000.
H.4.l(c)
SBSEEMEWP OF CONDITION OF EACH FEDERAL RESERVE BANK ON JAKUARY 4, I967
I
1 New
Total i Boston
j York
L I A B I L I T I E S
Federal Reser\e notes
Deposits:
Member bank reserves
U.S. Treasurer--general account
Foreign
Other
Total deposits
deferred availa bility cash items
Other liabilities and accrued
dividends
TOTAL LIABILITIES
CAPITAL ACCOUNTS
Capital paid in
Surplus
Other capital accounts
TOTAL LIABILITIES M I CAPITAL ACCOUNTS
1
,
f
Cleve
! Rich{ Phila-j
i
Atlanta Chicago
land
j delphia i
j mond
1
(In millions of dollars)
r Kansas T
Minne-j
apolis
Total collateral
9,259
2,304
3,316
3,685
2,318
7,289
1,469
707
1,502
1,275
4,675
19,500
267
153
446
2u,366
615
4
7
l
5,4o3
1
1/ 50
2/382
758
26
8
*
1,346
18
13
*
858
24
7
4
989
19
8
2
3,l8o
49
20
1
706
27
5
1
506
10
3
*
1,090
25
8
1
3,136
29
18
5^
627
5,836
792
1,377
893
1,018
3,256
739
519
907
35
6
4
952
1,124
3,233
7,788
586
1,316
487
573
63w
668
l,3u6
397
236
490
292
807
24„
12
62
11
20
1T
13
4u
8
5
Q
34
68,585
3,617
16,473
3,594
5,266
5,225
4,. 17
11,891
2,613
1,^67
2,953
9
2,7^0
570
570
20
27
27
1
148
148
6
30
30
l
30
30
1
35
35
1
20
20
*
14
14
69,7^5
3,672
16,775
3,655
5,266
4,088
2,653
1,495
51
51
2_
5,390
83
83
3_
12,060
33
33
25
25
1_
1
_L
8,749
74
74
3
8,900
>>.iiii
3,-^04
185
9
3/ ^9
10
9
17
11
27
6
4
11
24
8
42,244
2,489
9,703
2,359
3,577
3,811
2,456
7,652
1,542
741
1,562
1,3^9
4,963
6,450
5
37,016
500
1,000
600
74o
450
1,100
225
180
735
8,900
3,050
3,105
2,050
6,700
310
4
1,310
127
2,016
483
1
2,000
655
i,4oo
1,23c
4,6co
43,471
2,516
9,900
2,484
3,650
3,845
2,500
7,800
1,624
782
1,625
1,410
5,335
1/ After deducting $103 million participations of other Federal Reserve Banks.
2/ Includes IMF gold deposit.
After deducting $136 million participations of other Federal Reserve Banks.
Digitized for3/
FRASER
i
2,392
FEDERAL RESERVE AGENT'S ACCOUNTS
F. R. notes outstanding
Collateral for F. R. notes
Ciold certificate account
Eligible paper
U. S. Government securities
1 San
■Dallas i FranCity 1
j cisco
40,191
~ ~ . . _
Contingent liability on accept
ances purchased for foreign
correspondents
St.
Louis
* Less than $500,OCC,
@FedFRASER