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••isgssfe;-. FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release January 6, 1966 The average of daily figures of total member "bank reserves held during the week ended January 5 increased $212 million to $23,293 million. Estimated currency and coin of member hanks increased $49 million and their reserve "balances at the Federal Reserve Banks increased $163 million. Estimated required reserves increased $29^ million; and estimated excess reserves decreased $82 million to $382 million* Member hank borrowings at the Federal Reserve Banks exceeded excess reserves by $180 million, compared with the revised net borrowed figure of $82 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $202 million in U. S. Government securities held under repurchase agreements and $^5 million in acceptances held under repurchase agreements, and decreases of $309 million in currency in circulation and $75 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $3^7 million in Federal Reserve float and $53 million in gold stock, and an increase of $69 million in "other1' deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $108 million* As of bought outright securities held bank borrowings Wednesday, January 5; holdings of U. S. Government securities were $201 million higher than a week earlier, U. S. Government under repurchase agreements were $V00 million higher, and member were $l6l million higher. Member bank reserves, Reserve Bank credit, and related items Averages of .daily figures Week ended Change from week ended Wednesday, Jan. 6, Jan. 5, Jan. 5, Dec. 29, 1966 1965 1965 1966 (In millions of dollars) Reserve Bank credit: U. S. Government securities-Bought outright--System account Held under repurchase agreements Acceptances-Bought outright He lid 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) Kember bank reserves: With Federal Reserve Banks >irrency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 40,607 423 - 24 +202 +4,092 - 120 74 111 + 8 + *5 + + 16 77 73 119 562 3B 2.366 44,l8l 13,733 5,590 63,504 + 16 - 8 -347 -108 - 53 + 5 -155 + 253 + 7 - 256 +4,070 -1,655 + l83 +2,598 660 20 42,039 810 612 166 295 346 44,267 -309 - 7 - 75 + 7 + 69 - 3 -319 +2,487 + 180 - 62 - 62 + 12 - 680 +1,874 43,833 19,237 4,056 23,293 22,911 382 +163 + 49 +212 +294 - 82 + 724 + 370 +1,094 +1,065 + 29 20,377 4,249 24,626 22,842 1,784 40,832 658 2, 524 44,886 13,734 5.589 64,209 42,018 809 87 163 268 488 On January 5> 1966, U. 3. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,970 million, a decrease of $l-kL*4- Million for the week and a decrease of $501 million from the comparable date Digitized a for year FRASERago. H.4.1(a) CONSOLIDATED STATEMENT QF PONDITICN OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Jan. 5, 1966 ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements U. S. Government securities: Bought outright— Chang*5 since Jan. 6, Dec. 29, 1965 1965 11,702 1,732 * .13^34 (872) 130 61 + 2 -1,803 + 162 2 -lf6hl 11 - 16 + 3^3 + 17 86 119 28 9,454 + 201 +3,389 24,828 6,550 40,832 5^3 + 201 I^QQ + - 360 ±1*276 +4 305 + 'l53 Total U. SvGovernment securities 4l,490 + 601 +4 4*58 Total loans and securities 42,362 + 769 +4 904 Bills Certificates Notes Bonds Total hought outright Held under repurchase agreements + 11 1 11 1 1 1 1 1 Cash items in process of collection H 502) 7 075 86 - 79 Bank premises ' '^03 + 1 Other assets _725 - 248 + 129 TOTAL ASSETS (2,37*0 63.829 7~444 T3J98 L I A B I L I T I E S Federal Reserve notes (872) 37,067 - 297 +2 559 Deposits: Member bank reserves 20,377 +1 635 +1 834 U. S. Treasurer--general account 87 - 446 - 405 Foreign 163 + 4 - 66 Other 268 + 4l +_ 67 Total deposits 20,895 +1,234 +1,430 Deferred availability cash items (l,502) 4,551 - QOR - 299 Other liabilities and accrued dividends 102 - 1 4 - 447 TOTAL LIABILITIES (2,37*0 62,705 7~528 +3,243 CAPITAL A C C O U N T S Capital paid in ^2 ^ + + 2Q Surplus 551 + 2 + Other capital accounts 21 TIC TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2 374) 63,829 "+ ' 444 +HI1 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shewn on the following pages--not consolidated) 35-4$ .1$ - 7.4$ Contingent liability on acceptances purchased for foreign correspondents 242 1 + 1 9 * 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, JANUARY 5. 1966 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements, Changes) Discounts and U. S. Government securities advance>S Acceptances Holdings during week Within 15 days 132 1,550 657 +538 16 days to 90 days 60 23 +238 6,505 91 days to 1 year 17,535 -175 Over 1 year to 5 years 14,066 ,rs Over 5 years to 10 years Over 10 years 385 Total 680 192 41,490. +601 H.4.1(b) STATEMEFI CF CONDITION OF EACH FEEERAL RESEWE EAKK OK JANUARY 5, 1966 Total Boston Kew York Philadelphia Cleveland Richmond Atlanta Chicago (In millions; St. Louis Minneapclis Kansas Eallas City San Francisco of dollars) A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 11,702 -LJ3L 13,^ 691 99, 790 935 148 1,022 2,786 684 94 778 1,083 65 6 2,378 408 Discounts and advances Acceptances: Bought outright Held under repurchase agreements U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total Held under repurchase agreements 660 63 ^37 14 3 73 119 -- 73 119 -- -' 9,h5k 14.9C 494 802 669 __ 1,297 __ - - 7 74 -- 102 10 160 17 • 39 8 63 11 71 8 658 85 21 1,163 872 130 2,276 ~24,828 1,286 5,977 6,, 550r _33S . 1,577 40,832 2,115 9,830 85 14 2,203 F. R. notes cf ether Banks Other cash -- 200 32 232 4l4 68 2,521 412 64 476 658 99 757 141 1,742 482 363 57 420 3^ 4 31 8 50 7 87 16 19 18 28 -~ -- -- 361 1,575 .._ __ -1,419 949 ^,135 3Z5_ „UC9i__ _250 6,8ci 1,560 2,33^ 196 370 389 _.. -- __ 972 51* 256 136__ 846 1,596 1,022 220 1,681 3,39^ 318 54o 204 1,946 7 1,292 -- 342 2,107 556 2,133 3,465 ... 1,756 463 2,888 2,133 1M3 . 2,888 _ 2,_334 6,801 1,560 846 1,598 1,681 5,581 895 5,581 658 Total U. S. Government securities kljk90 Total loans and securities 42,362 2,178 11,117 2,136 3,479 2,891 2,3^1 6,875 1,579 864 1,626 1,686 5,588 8,577 559 3 1,447 579 5 60 642 5 73^ 20 4i 4c 1,5^7 20 105 466 7 24 297 3 16 572 7 31 448 11 33 843 10 94 5,280 M54 3,991 11,17^ 2,599 1,^50 2,757 2,655 8,584 Cash items in process of collection Bank premises Other assets TCTAL ASSETS 103 725 66,203 .2^1.15. 10,488 3k 9 209 443 3 38 3,643 15,7^5 3,^71 H.k.1(c) STATEMENT CF CONDITION OF EACH FEIERAL RESERVE BANK CM JANUARY 5, 1966 referred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES San Francisco 701 1,431 1,191 4,318 745 483 5 3 1 492 848 6 7 2 863 1,018 6 9 1 1,C3',L 3,376 5 20 50 3.451 1,120 361 226 4c6 359 644 10 3,924 31 11,013 7 2,560 4 1,423 8 2,708 7 2,591 2^ 8,436 33 33 1 79 79 3 19 19 1 13 13 1 24 24 1 32 32 * 72 72 4 Philadelphia '<37*939 2,254 8,6CO 2,241 3,237 3,388 2,246 6,885 1,447 163 268 20,895 847 6 7 * 860 5,954 24 1/52 205 6,235 769 6 8 1 784 1,415 6 14 * 1,435 896 6 8 4 914 1,088 6 9 2 1,105 2,949 6 21 1 734 5 5 2,977 6,053 465 559 377 492 481 563 57 9 3,588 15,451 8 3,4ic 15 5A79 13 4,796 145 144 5 30 3C 1 50 50 1 28 28 2 Boston 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 j Kansas 1 Dallas civ New Ycrk Total *20,3£T TOP 65,079 Cleve- Rich- Atlanta Chicago land mond (in millions of dollars) Minneapo'.is St. Lcuis 1 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES ANI CAPITAL ACCOUNTS 552 551 21 -££*2Q3L Contingent liability on acceptances purchased for foreign c orre sp ondent s 27 27 1 _3Ja43_JL5*3k5__3j£ZI__5L*2SC_ _JU85JL_ _3-^2ai_JO*XZk_ _2_5..9.9—_Ui5G-_ 2 ^ 7 _ -2J65- 1^2 7 ^37 8 13 7 8 20 __8_v5-84_ 5 3 7 8 19 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate ace cuntEligible paper U. S. Government securities Total collateral 2,367 9,C89 2,337 3,480 3,574 2,434 7,338 1,534 739 1,509 1,294 4,654 440 1,CCC 6CC 853 55C 1,100 225 180 735 8,200 2,950 2,75C 1,900 6,4CC 315 18 1,310 127 ' .^,710 1.945 5C0 3 1,900 625 1,300 1,130 4.300 to, 356 2,385 9,200 2,403 3,550 3,603 2,450 7,5CC 1,643 752 1,525 1,310 5,035 ^0,3^9 21 6,625 13 l/ After deducting $111 million participations of ether Federal Reserve Banks. 2/ After deducting $105 million participations of other Federal Reserve Banks. * Less than $500,000.
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