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•iiHSfe,;-. FEDERAL RESERVE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks For immediate release July III-, 1966 H.4,1 "**" Figures on factors affecting "bank reserves during the week ended July 13 have been affected by effects of the airline strike in slowing inter-city and interdistrict check clearances. The averages of daily figures of total member bank reserves held decreased a net of $6 million to $23,187 million. Estimated currency and coin of member banks increased $165 million and their reserve balances at the Federal Reserve Banks decreased $171 million. Estimated required reserves decreased $299 million; and estimated excess reserves increased $293 million to $663 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $155 million, compared with the revised net borrowed figure of $V?7 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were a decrease of $5^ million in acceptances held under repurchase agreements, and increases of $385 million in currency in circulation and $312 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $k2k million in Federal Reserve float and $72 million in U. S. Government securities bought outright, and a decrease of $6l million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $426 million. As of Wednesday, July 13, holdings of U. S. Government securities bought outright were $309 million lower than a week earlier, with some of the decline attributable to the sale of bills, with matching forward purchase contracts, to help offset the rise in Federal Reserve float resulting from the airline strike. U. S. Government securities held under repurchase agreements were $26 million lower and member bank borrowings were $125 million higher. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities— Bought outright--System account Held under repurchase agreements AcceptancesBought outright Held under repurchase agreements Discounts and advancesMember 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) Averages of daily figures Week ended Change from week ended Wednesday, July Ik, July 13, July 6, July 13, 1966 1966 1965 1966 (in millions of dollars) + 72 - 1 +3,666 - 580 42,398 80 100 -,i + + 4o 88 16 80 818 - 198 3 547 +3,957 - 499 + 567 +4,024 385 13,434 5,968 64,885 +312 - 61 - 10 - 17 +6c8 +2,8l8 + 304 + 180 1 + + 222 392 +3,131 43,074 1,063 1,138 150 4l8 337 46,180 -171 +165 - 6 -299 +293 + 892 + 189 +1,081 + 950 + 131 18,706 4,337 23,043 22,549 494 42,653 3 2^30 46,085 13,435 5,972 65,491 +424 +426 + 1 + 10 +436 43,019 1,066 1,022 +385 1^7 4i8 437 46,108 Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 9 5 19,383 3,804 23,187 22,524 663 — 2,544 On July 13, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,375 million, a decrease of $142 million for the week and an increase of $22 million from the comparable date a year ago. 11.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) July 13, 1966 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets l/ TOTAL ASSETS L I A B I L I T I E S Federal Reserve notes"""" Deposits: Member bank reserves U. S* Treasurer—general account Foreign Other 2/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 11,212 l,78l 12,993 (75^) 2 ^ 385 7 6 80 10,581 15 25,326 6M6 42,398 ^2,398 ^2,939 (1,517) 8,3^9 10^958 (2,271) 65,587 (75*0 37,971 Change since July 6, July Ik, 1966 1965 + + 8 8 ""• 5 I20 - 5 92 309 ~ — zi. - 309 - 26 - 335 - 312 +1,262 -+ 12 + 957 * + " + + 826 157 669 136 !73 + 3 8 + 72 +2,936 15 - *H1 +1,092 +3,632 - 301 +3,331 +3,61^ +1,085 + 2 + 257 +M25 + 91 +2,580 18,706 1,138 150 4l8 20,1*12 - 250 + ^5 - ^3 + 20 + 172 +1,106 + 218 6 + 215 +1,533 (1,517) 5,805 215 (2,271) 6^,1*03 + 804 9 +1,058 + khk - l8l +U, 376 CAPITAL A C C O U N T S Capital paid in"" ~ 562 Surplus 551 Other capital accounts 71 - 101 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,271) 65,587 + 957 Ratio of gold certificate reserves to F* R. note liability (computed from figures as shown on the following pages—not consolidated) 33.6$ .1$ - h.k Contingent liability on acceptances purchased for foreign correspondents 262 2 + 106 * Figures in parentheses are the eliminations made in the consolidating process; . see comparable figures on combined basis on the following pages* -/includes assets denominated in foreign currencies and IMF gold deposited. £/Includes IMF gold deposit, MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 13, 1966 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government securities Changes Discounts and advances Acceptances Holdings during week Within 15 days + 66 1,084 100 373 16 days to 90 days 10,768 -32k 12 56 91 days to 1 year -— - 77 15,175 Over 1 year to 5 years __ -13,622 -Over 5 years to 10 years ---1,352 Over 10 years -__ — 397 Total 156" 42,398 -335 3BI STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 13, 1966 H. 4.1(b) 1 1 Total Boston Nev York Philadelphia Rich- Atlanta Chicago mond > of dollars) millions (In Cleveland St. Louis Minneapolis Kansas Dallas City 1 San Francisco A S S E T S 1 11,212 1 Gold certificate account Redemption fund for F. R. notes | 1,7811 Total gold certificate reserves 12,993 794 717 909 148 1,057 1,069 145 1,214 625 103 728 2,002 322 2,324 483 64 547 243 33 276 431 71 502 562 60 622 1,372 212 1,584 163 26 48 9 56 37 82 14 80 18 71 42 31 25 27 5 37 12 44 13 69 32 Discounts and advances 38 385 Acceptances: Bought outright 76 76 1 Held under repurchase agreements : 80 8o U. S. Government securities: Bought outright— 2,704 i 10,581 Bills 561 4 1 Certificates 15 6,472 Notes 25,326 1,344 Bonds 6,476 344 1,655 Total 42, 398 2,250 10,835 „ --Held under repurchase agreements 25 l 15 44 171 2 15 17 8 4 545 871 210 * 2,084 533 3,489 1,383 354 2,316 900 230 1,506 502 128 840 402 1 964 246 1,613 385 -* 1,304 333 2,183 1,774 2 4,245 1,086 7,107 376 l 730 1 1,748 447 2,926 578 l 921 236 1,543 1,445 2 3,459 884 5,790 -- -- -- -- -- -- -- -- -- -- F. R. notes of other Banks Other cash 754 244 621 895 2,101 426 2,527 46 11 101 1 h5 96 l l Total U. S. Government securities ^2,398 2,250 10,835 2,183 3,489 2,926 2,316 7,107 1,506 84c 1,613 1,543 5,790 Total loans and securities 42,939 2,295 11,029 2,208 3,490 2,94l 2,360 7,278 1,508 855 1,630 1,551 5,794 562 3 39 1,798 9 384 556 3 42 691 5 67 825 5 45 768 20 45 1,620 20 118 531 8 27 304 3 505 10 36 l,06l 10 17 645 8 34 | 67,858) 3,851 15,936 3,583 5,403 5,126 4,019 11,473 2,677 1,487 2,868 2,781 8,654 Cash items in process of collection Bank premises Other assets l/ TOTAL ASSETS j | j | 9,8661 104 958 1/ Includes assets denominated in foreign currencies and IMF gold deposited * Less than $500,000. io4 H-4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 13, 1966 Total Boston New York Philadelphia Cleveland 0In 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 bank 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 account Foreign Other Total deposits r e f e r r e d a v a i l a b i l i t y cash i t e m s Other l i a b i l i t i e s and a c c r u e d dividends TOTAL LIABILITIES Richmond A t l a n t a Chicago St. Louis Minneapolis Kansas D a l l a s City San Francisco m i l l i o n s of d o l l a r s ) 38,725 2,341 8,774 2,255 3,225 3,1+81+ 2,255 7,017 1,1+50 727 1,1+61+ 1,21+7 l+,l+86 18,706 1,138 150 4l8 20,1+12 850 73 8 l 932 4,991 177 1/28 2/341 5,537 705 83 9 1 798 1,354 99 15 * 81+9 118 8 6 981 1,052 9k 10 1 1,157 2,863 148 2k 681 116 6 1 3,036 803 1+1+0 1+8 1+ 1 i+93 85I+ 37 7 3 901 982 75 9 1 1,067 3,085 70 22 62 3,239 7,322 510 1,263 1+56 586 581+ 523 1,212 375 23I+ 1+1+3 391 71+5 215 66,67*+ 11 3,794 5*+ 15,628 11 15 5,061+ 8 13 35 5 3,9" +8~ 11,300 ~27636~" 1,^59 8 3,520 18 5,297 8 2,713 562 551 71 27 27 3 ike lkk 18 30 30 3 51 50 5 29 28 5 3k 33 1+ 81 79 13 19 19 3 ik 13 l 2l+ 3 33 32 3 73 72 10 67,858] 3 , 8 5 1 15,936 3,583 5,1+03 5,126 1+,019 11,473 2,677 1,1+87 2,868 2,781 8,651+ 12 15 3k 769 1,579 1,353 M71 1 2,816 29 8/l+99~ 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 a c c e p t ances purchased for foreign correspondents ___ __ 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. S. Government s e c u r i t i e s Tot-el c o l l a t e r a l __J/§9„ Ik 37 9_ 13 _ i £ _ FEDERAL RESERVE AGENT'S ACCOUNTS 3,520 2,1+71 1,552 3,707 7,457 21+ 262 13 1+1, 554 2,1+71+ 9,1+21+ 2,377 6,607 12 35,671 500 1,000 600 875 1,986 8,500 500 10 1,900 2,950 2,865 1+2,290 2,1+86 9,500 2,1+10 3,550 3,740 other Federal Reserve Banks. 2/ Includes IMF gold deposit. ^/ After deducting $193 million participations of other Federal Reserve Banks, 1+50 1,100 2,Q75... _ 6^500 7,600 2,525 6_ 25 315 2 1,310 127 225 180 735 .655 i,4oo 1,230 4,300 1,627 782 1,625 1,1*10 5,035 * Less than $500,000.
@FedFRASER