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..•&SK&-. FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release July 20, 1967 The average of daily figures of total member bank reserves held during the week ended July 19, decreased a net of $206 million to $23,856 million. Estimated currency and coin of member banks increased $123 million and their reserve balances at the Federal Reserve Banks decreased $329 million. Estimated required reserves increased $209 million; and estimated excess reserves decreased $415 million to $246 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $195 million, compared with the revised figure of $592 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $630 million in U. S. Government securities bought outright,$66 million in acceptances held under repurchase agreements, and $52 million in U. S. Government securities held under repurchase agreements. The principal offsetting changes were an increase of $143 million in Federal Reserve float, and decreases of $171 million in currency in circulation, and $90 million in "other" F. R. Accounts (net). Total Reserve Bank credit decreased $642 million. As of Wednesday, July 19, 1967, holdings of U. S. Government securities bought outright were $451 million lower than a week earlier, and member bank borrowings were $21 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 Federal Agency obligationsHeld under repurchase agreements -Acceptances— Bought 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) Average of daily figures Week ended Change from week ended Wednesday, July 19, July 19, July 20, July 12, 1967 1967 1Q66 JM1 (In millions of dollars) 46,471 -630 - 52 +4,787 85 - 10 - 66 10 81 51 2 1,847 48,455 13,109 6,603 68,168 - 18 - 3 +143 -642 - 1 - 7 -649 - 580 + 2 -1,378 +2,640 - 325 + 637 +3,152 52 45,085 1,477 1,021 128 484 380 48,576 -171 - 2 - 52 - 6 -- 90 -320 +2 ,164 + 415 - 135 32 + 51 + 48 +2 ,512 I 46,309 1,753 48 ,195 13 ,109 6 ,612 67,916 45,052 1,480 1,155 120 481 402 48,690 Member bank reserves: + 641 With Federal Reserve Banks 19,592 19,226 -329 4,646 Currency and coin (estimated) +123 4,264 + 280 23,856 -206 23,872 Total reserves held + 921 23,610 +209 23,804 Required reserves (estimated) + 846 246 68 -415 75 Excess reserves (estimated) + On July 19, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,354 million, a decrease of $113 million for the week and an increase of $230 million from the comparable date a year ago. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since July 12, July 20, July 19, 19, Ju] 1966 1967 1967 ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves ') (593) Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations— 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 10,745 1,857 12,602 - 12 + 9 - 3 + - 317 52 + 18 - 24 4- 70 - 198 81 - 10 •• 11£ 10 - 66 13.,681 4,,353 21.,737 6,,538 46,,309 -451 46 ,309 -451 -551 46.,442 Cash items in process of collection (2,031) 7,,840 109 Bank premises 997 Other assets 1/ TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (2,624) 68,307 B 426 39 387 1111IIS Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other 2/ Total deposits -451 +162 -- - 13 -387 +3,,542 +4,,338 -3.,589 62 +4",353 +4.,353 +4:,165 - 689 + 5 + 31 +3,195 (593) 39,730 -238 +1,928 19,226 1,155 -157 - 20 - 15 - 12 -204 + 480 + 383 37 + 56 + 882 + 26 - 5 -421 + 299 + 38 120 481 20,982 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts ---- (2,031) 6,087 241 (2,624) 67,040 586 570 111 +3,147 __ -- + + + 34 + 22 19 7 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 31.3% +.1% - 2.3% Contingent liability on acceptances purchased for foreign correspondents 355 9 + 108 * Figures in parentheses are the eliminations made in the consolidating process. JV Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 19, 1967 (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 Within 15 days 48 16 days to 90 days 4 91 days to 1 year -Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total 52 Acceptances 21 60 — U. S. Government securities and Federal Agency obligations Holdings Weekly changes 2,016 +680 2.,016 11,541 -926 ,541 11 ,815 17,815 -205 17. 13.,407 1.,014 516 81 46,309 -451 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 19, 1967 H.4.1(b) Total Boston New York Philadelphia Cleveland A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency ohligationsHeld under repurchase agreements U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total Held under repurchase agreements 10,745 1,857 12,602 593 317 642 106 748 35 11 2,051 452 2,503 177 37 52 17 4 691 98 789 36 7 874 150 1,024 42 47 Rich- Atlanta Chicago St. mond Louis (In millions of dollars) 1,082 164 1,246 46 16 608 99 707 54 40 1,948 334 2,282 35 56 199 32 231 18 8 466 148 740 223 279 524 89 167 443 833 133 251 944 1,775 535 26 16 422 63 485 22 16 1,346 223 1,569 76 32 81 81 i 1,052 974 309 753 239 2,298 335 1,103 1,671 1,547 1,196 331 503 465 360 2,491 2,349 3,561 3,295 2,548 3,652 1,098 7,780 1,577 -- -- -- -- -- -- -- -- -- Total U. S. Government securities 46,309 2,491 11,706 2,349 3,561 3,295 2,548 7,780 Total loans and securities 46,442 2,508 11,791 2,350 3,561 3,299 2,549 9,871 612 1,663 570 722 831 3 39 10 428 2 41 5 65 70,931 (3,956 16,609 3,795 5,466 736 234 13,681 4,353 21,737 6,538 46,309 1,169 109 997 352 1 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 464 71 San Francisco 14 Vc 694 221 TOTAL ASSETS Kansas Dallas City 418 65 483 26 31 3,458 1,100 5,495 1,653 11,706 Cash items in process of collection Bank premises Other assets l/ Minneapolis 732 -- 534 170 848 255 1,807 1,913 609 3,040 914 6,476 -- -- — 1,577 944 1,775 1,807 6,476 7,794 1,577 946 1,780 1,811 6,476 861 1,630 489 319 654 551 969 6 48 20 44 19 119 9 26 3 16 14 32 9 37 9 102 5,492 4,275 11,935 2,641 1,541 3,057 2,931 9,233 H,4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 19, 1967 Total Boston New York Philadelphia .Deferred availability cash items -=Sther liabilities and accnaed dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ac(;eptances purchased for fore ign correspondents Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) 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 Cleveland 40,323 2,424 9,349 2,343 3,232 3,690 2,269 7,168 1,475 713 1,531 1,315 4,814 19,226 1,155 120 481 20,982 827 66 6 823 65 6 899 4,949 159 1/ 31 2/394 5,533 894 1,365 91 11 1 1,468 903 107 6 10 1,026 1,110 70 8 1 1,189 3,044 139 17 3 3,203 644 89 4 1 738 488 38 3 2 531 873 92 5 3 973 1,046 68 7 1 1,122 3,154 171 16 65 3,406 8,118 559 1,338 478 635 691 726 1,337 377 261 487 414 815 241 69,664 13 3,895 60 16,280 13 3,728 19 5,354 17 5,424 13 4,197 40 11,748 8 2,598 6 1,511 10 3,001 9 2,860 33 9,068 28 27 6 152 148 29 31 30 6 52 51 9 31 30 7 37 35 6 85 83 19 20 20 3 14 14 2 26 25 5 34 33 4 76 74 15 586 : 570 111 * 70,931 3,956 16,609 3,795 5,466 5,492 4,275 11,935 2,641 1,541 3,057 2,931 9,233 355 17 3/ 92 18 32 18 22 52 12 9 16 21 46 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: -Gold certificate account Eligible paper U. S. Government securities Total collateral 42,138 2,519 9,804 2,400 3,459 3,819 2,385 7,392 1,553 736 1,595 1,417 5,059 6,720 450 1,000 503 600 740 450 1,400 310 127 225 180 735 36,671 2,096 9,000 2,000 3,000 3,160 2,050 6,150 1,310 625 1,400 1,280 4,600 43,391 2,546 10,000 2,503 3,600 3,900 2,500 7,550 1,620 752 1,625 1,460 5,335 1/ After deducting $ 89 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. 3/ After deducting $263 million participations of other Federal Reserve Banks. * Less than $500,000.
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