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FEDERAL r * ?f*AU^>*' RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release July 28, 1966 H.4.1 Figures on .factors affecting bank reserves continue to show effects of delays in inter-city and inter-district check clearances resulting from the airline strike. During the week ended July 27, the average of daily figures of total member hank reserves held decreased a net of $21 million to $22,903 million. Estimated currency and coin of member banks increased $l4 million and their reserve balances at the Federal Reserve Banks decreased $35 million. Estimated required reseives decreased $88 million; and estimated excess reserves increased $67 million to $239 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $kkl million compared with the revised net borrowed figure of $^4-59 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were decreases of $450 million in Federal Reserve float, $28 million in gold stock, and an increase of $60 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $189 million in U. S. Government securities bought outright, and $49 million in member bank borrowings, and decreases of $174 million in currency in circulation, $62 million in "other" F. R. accounts (net), and $33 million in other deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $219 million. As of Wednesday, July 27, holdings of U. S. Government securities bought outright were $27 million higher than a week earlier. Member bank borrowings were $720 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 Acceptances--bought outright 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) Averages of daily figures Week ended Change from week ended Wednesday, July 27, July 28, July 27, July 20, 1966 1966 1966 1965 (in millions of dollars) + 49 + 2 -450 -219 - 28 + 3 -245 + 201 + 2 +1,101 -^,195 - 5X7 4- 361 +4,239 970 2,212 45,219 13,33^ 5,971 64,524 -174 +2,846 + 284 + 343 42,769 1,089 1,338 - 12 + 2l4 149 397 319 +189 65 680 2 2,775 13,^06 5,969 64,771 42,747 1,076 1,216 l44 4oo 270 45,855 Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 41,983 - 10 +3,074 - 214 4- 29 4l,873 18,916 3,987 22,903 22,664 239 + Ik + 60 -16 - 33 - 62 -209 - 440 +3,236 - 35 +1,002 + i4 - 21 + 307 +1,309 +1,392 - 88 + 67 - 83 54 46,061 18,463 4,363 22,826 22,694 1 132 On July 27, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,410 million, an increase of $286 million for the week and an increase of $218 million from the comparable date a year ago. H.4.1(a) CONSAUMTED STATEMENT OF CONDITION OF THE TWELVE FEDEML RESERVE BANKS (in millions of dollars) July 27* 1966 ASSETS. Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 11,058 - 113 12,873 - 116 (905) Cash Discounts and advances Acceptances: Bought outright Change sinct July 28, "July.20, 1966 _i2& 904 186 2k 720 151 399 5** 17 16 10,166 15 25,326 6TV?6 M,983 27 •2,483 + 15 feT9% 27 271 970 + U. S. Poveraiaeat securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreements Totel U. S. Government securities TofoJL loans and securities Cash items in process of collection Bank premises Other assets V TOTAL ASSETS L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasure"!—general acaount Foreign Other 2/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T A L A C C O U N T S Capital paid in ** Surplus Other capital accounts TOTAL LIABILITIES ANP CAPITAL ACCOUNTS *6,007 (1,602) 7,256 - uii 27 + 730 fl>p92 +3,179 - 427 +2,752 +17169 -1,273 16k 1,022 (2,507) 6J+,53.3 •5§ (905) 37,697 - 105 18,U63 1,338 149 m 283 566 8 28 20,3^7 157 5,0kk Ikh (1,602) 198 (2,507) 63,286 - 607 625 539 8 + 205 +1,361 + + + 67T - 198 +4,372 + + 56k 551 132 (2,507) 64,533 +2,532 28 ± 22 27 ia 1 +M3 * Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on , the following pages—not consolidated) 33.3$ -3$ 4.7^ Contingent liability on acceptances purchased for foreign correspondents 259 + 1 2 + 107 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages, i/lncludes assets denominated in foreign currencies and IMF gold deposited. ^/Includes IMF gold deposit. _ _ MATURITY1 DISTRIBUTION OF LOAMS AND SECURITIES, JULY 27. 1 9 & (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Ut S, Government securities Changes Discounts and Discounts advances Ar^entances advances Acceptances Holdings during week Within 15 days 956 - 38 15 1,^95 16 days to 90 days Ik 10,212 39 +155 91 days to 1 year -*.- 90 14,9C5 Over 1 year to 5 years — — — 13,622 Over 5 years to 10 years ---1,352 Over 10 years _i2Z --Total 970 54 41,983 + 27 •i STATEMENT CF CONDITION CF EACH FEDERAL RESERVE BANK ON JULY 27, 1966 H.4.l(b) Total Boston New Philadelphia York Cleve- Rich- Atlanta Chicago land mond (In millions of dollars) St. Louis Minneapolis Kansas Dallas City San Francisco A S S E T S 2,238 1,193 528 103 631 61 39 93 14 33 -- " 524 1 837 1 701 1 6,472 344 1,655 2,228 10,729 1,304 2,084 333 848 148 996 1,045 2,671 611 98 709 59 13 206 31 69 10 970 81 244 6 5^ -- 54 11,058 1,815 12,873 509 103 612 2,235 F. R. notes of other Banks Other cash 905 271 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 Gold certificate account Redemption fund for F. R» notes Total gold certificate reserves -- 10,166 15 25,326 6,476 436 239 33 272 511 71 582 512 62 574 1,410 2,570 372 64 436 84 22 74 45 34 27 42 7 39 12 45 16 99 35 45 88 133 45 13 34 44 204 --- " -- --- --- " " --- — -- 555 l 1,704 362 202 # 1,748 1,383 533 447 354 900 230 2,293 1,492 502 128 832 370 l 921 236 2,162 4,245 1,086 7,037 386 1 964 246 1,388 2 1,597 1,528 5,733 -- 539 1 2,598 4 1,344 148 332 • * 217 1,627 2 3,459 884 3,455 2,897 -- -- -- -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities 41,983 2,228 10,729 2,162 3,455 2,897 2,293 7,037 1,492 832 1,597 1,528 5,733 Total loans and securities 43,007 2,309 11,027 2,168 3,488 2,942 2,38l 7,170 1,537 845 1,631 1,572 5,937 8,858 1,629 9 4oo 522 3 44 655 5 71 701 5 51 774 20 48 1,356 1,022 529 3 42 20 131 4i4 8 29 279 3 18 560 8 36 467 10 39 972 10 113 67,o4o 3,567 15,973 3,525 5,315 4,999 3,960 11,366 2,485 1,466 2,868 2,723 8,793 Cash items in process of collection Bank premises Other assets l/ TOTAL ASSETS 41,983 104 l7 Includes assets denominated in foreign currencies and IMF gold deposited. * Less than $500,000. H. 4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE B A M ON JULY 27, I966 Total Boston New York LIABILITIES 38,602 2,324 Federal Reserve notes 8,788 Deposits: Member bank reserves 18,463 5,092 603 8 l U.S. Treasurer—general account 1,338 ! -163 Foreign 149 7 y. 42 Other 2/326 397 * 5,623 Total deposits 20,347 i 691 6,646 Deferred availability cash items 482 1,187 Other liabilities and accrued dividends 10 198 51 TOTAL LIABILITIES 65,793 3,507 15,649 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAFITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral Phila- Cleve- Rich- Atlanta Chicago St. Louis delphia land mond (in millions; of dollars) Kansas Dallas City San Francisco 2,241 3,213 3,487 2,223 7,oo4 1,436 721 l,46o 1,245 4,46o 725 64 8 822 85 7 6 920 512 1,042 79 9 l 1,131 520 2,806 279 21 l 3,107 1,038 633 65 5 421 65 4 797 4li 1,277 160 13 1 1,451 524 # 703 296 829 107 6 2 944 402 955 81 8 1 1,045 3,258 109 19 59 3,445 355 698 10 3,459 16 5,204 13 ^,932 11 33 3,885 11,182 7 2,442 8 2,814 8 2,653 27 8,630 81 79 24 20 19 4 25 24 5 33 32 73 72 18 3,960 11,366 2,485 * • 564 551 132 27 27 6 146 144 34 30 30 6 51 50 10 29 28 10 67,o4c 3,567 15,973 3,525 5,315 4,999 259 13 3/ 68 ik 23 13 41,775 2,487 9750-5 6,682 51 35,998 42,731 5 00 1,000 2,016 2,516 8,700 9,700 35 33 7 -* 490 221 4 1,436 14 13 3 1 •• • y _ l ^ 6 6 _ _2 2 866_ 2,723 \ 8,793 1 | 9 6 11 15 34 FEDERAL RESERVE AGENT'S ACCOUNTS 2,4bl 7,468 1,5^8 ""2,395 " 3,518 3,723 770 1,584 1,376 4,«b0 500 6 2,000 2,506 16 37 6c c 950 450 1,100 315 45 127 225 180 735 3,cco 3,6cc 2,812 3,762 2,075 2,525 6,500 1,31c 1,400 f,6co 1,670 655 782 1,23 c 1,410 4,300 5,035 2/ Includes IMF gold deposit. 3/ After deducting $191 million participations of other Federal Reserve Banks. Minneapolis 1,625 * Less than $500,000.
@FedFRASER