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FEDERAL **?f*Au&?y RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release July 6, 1967' The average of daily figures of total member bank reserves held during the week ended July 5> increased a net of $358 million to $23,899 million. Estimated currency and coin of member banks decreased $190 million and their reserve balances at the Federal Reserve Banks increased $5^8 million. Estimated required reserves increased $273 million; and estimated excess reserves increased $85 million to $505 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $152 million, compared with the revised figure of $279 million the week before. H.4.1 The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $831 million in U. S. Government securities bought outright, and $212 million in member bank borrowings, and a decrease of $170 million in other F. R. accounts (net). The principal offsetting changes were a decrease of $177 million in Federal Reserve float, and increases of $277 million in currency in circulation, $120 million in Treasury deposits with Federal Reserve Banks, and $96 million in Treasury cash holdings. Total Reserve Bank credit increased $901 million. As of Wednesday, July 5, 1967, holdings of U. S. Government securities bought outright were $797 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $102 million higher, and member bank borrowings were $26 million lower. Outright holdings of bills, notes, and bonds increased $735 million, $35 million, and $27 million, respectively. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities-Bought outright--System account Held under repurchase agreements Federal Agency obligations-Held under repurchase agreements Acceptances-Bought 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, June 28, I July 6, July 5, July 5, 1967 1967 1 1966 1967 (In millions of dollars) ^•6,755 51 +831 + 35 4- ^6,975 102 k-7 17 3 92 45 + 12 - 3 + - 353 13 +212 - 11 -177 +901 + 2 + 8 +910 - 474 + 8 - 775 +2,884 - 324 + 653 +3,212 +277 + 96 +120 + 22 + 18 -170 +363 +2,214 + 409 + 378 60 + 80 94 +2,927 1,231 WBT3 13,H0 6,618 68,270 44,851 1,1^4 1,088 l48 508 360 48, I130 9 109 1 96 42 84 5 1 1,489 ; 118,810 1 13,109 6,619 68,538 45,180 1,^92 1 | 1 289 174 519 399 1 48,053 Member bank reserves: +5^8 | 20,liR5 19,81)1 + 287 With Federal Reserve Banks V,058 -190 + 439 Currency and coin (estimated) 1 3,995 + 726 24,480 +358 23,899 Total reserves held 23,372 + 571 +273 23,39^ Required reserves (estimated) + 85 1 1,108 505 + 155 Excess reserves (estimated) On July 5> 1967^ U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,719 million, a decrease of $62 million for the week and an increase of $202 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 5, June 28, July 6, 1966 1967 1967 A S S E T S — + 13 451 10,769 Gold certificate account 2 1,839 + + 66 Redemption fund for F. R. notes - 385 + 15 12,608 Total gold certificate reserves (447) Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations-Held under repurchase agreements U. S. Government securities: Bought outrightBills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities 308 89 - 96 42 + (447) Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (2,211) (2,658) C A P I T A L ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts + 10 4 + - - 59 176 15 130 17 17 17 14,347 4,353 21,737 6,538 46,975 102 47,077 47,321 735 +3. 457 +4, 338 -3: 589 + 62 +4,268 + 76 +4,344 +4,070 + 35 + 27 + 797 + 102 + 899 + 883 + + 83 912 - 187 + 5 + 143 +3,705 39,860 + 509 +1,980 20,485 289 174 519 ,467 21: +1,484 - 926 + 47 + 64 + 669 +1,529 - 404 19 + 121 +1 ,227 + + + 410 6,900 (2,211) Cash items in process of collection 109 Bank premises 1,089 Other assets l/ TOTAL ASSETS/LIABILITIES 2c CAPITAL ACCOUNTS (2,658) 68,335 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 - 16 39 5,411 252 66,990 585 570 190 53 • 311 8 875 37 + 28 +3,645 + + + 23 19 18 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 31.3% .3% - 2.470 Contingent liability on acceptances purchased for foreign correspondents 372 9 + 108 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 5, 19o7 (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 84 5 Acceptances 66 72 89 138 Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total U. S. Government securities and Federal Agency obligations Holdings Weekly changes 1,654 - 89 12,418 +608 18,085 +335 13,407 + 45 1,014 + 12 516 + 5 47,094 +916 H.4.l(lo) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 5, 1967 Total Boston Philadelphia New York Cleveland Richmond (In millions Atlanta Chicago St. Louis Minneapolis Kansas Dallas City San Francisco of dollars) A S S E T S Gold certificate account Redemption fund for F. R, notes Total gold certificate reserves i 10,769 1,839 12,608 664 lQl< 768 2,690 442 3,132 645 U*-7 22 10 F. R. notes of other Banks Other cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency o b l i g a t i o n s — Held under repurchase agreements U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total Held under repurchase agrrements 308 1,049 159 1,208 530 100 630 1,804 334 2,138 471 64 743 822 150 972 135 31 19 7 45 48 31 15 45 40 1 98_ j 89| 19 7 4 3 4 ^ 961 I4-2 96 42 -— -- -- -— 790 239 1,196 360 2,585 1 17 535 204 32 236 436 71 507 412 62 474 1, 042 22-3 1,265 27 56 19 31 16 7 21 16 20 16 47 31 31 5 2 8 4 -- -- -— --- --- --- -- 489 148 740 223 1,600 -- 292 89 443 133 957 -- 556 169 842 253 1,820 -- 592 179 897 270 1,938 -- 2,006 609 3,0^0 914 6,569 -- 1 17 2, 410 1^3^-7 772 234 ^ 353 21,737 1,169 6,538 352 "^•6,975! 2,527 102 -- 3,589 1,089 5,437 1,635 11,750 102 727 221 1,103 332 2,383 -- 1,103 335 1,671 503 3,612 -j- 1,021 309 1, 547 465 3,342 -- Total U. S. Government securities kj,077 2,527 11,852 2,383 3,612 3,342 2,585 7,892 1,600 957 1,820 1.938 6,569 Total' "loans and securities ^7,321 2,546 12,014 2,387 3,615 3,346 2,586 7,923 1,605 959 1,828 1,942 6,570 590 665 l, 54i 539 10 2 109; 5 3 42 452 Other ^ssets l/ 1,089: 4j_ 73 ! T O T A L ASSETS 5,423 17,315 3,795 70,99^ 3,930 1/ IncLudes assets denominated in foreign currencies and IMF gold deposited 779 6 53 854 20 50 1,474 19 131 450 9 30 259 3 19 606 14 35 5,438 4,225 11,768 2,679 1,499 3,027 Cash items in process of collection Bank premises 9,m — 732 3,652 1,098 7,892 512 9 43_ 3,016 842 9 114 8,878 H.h.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 5, 1967 "1 ! Total Boston j New ! York 1 1 Deferred availability cash items Other liabilities and accruted dividends TOTAL LIABILITIES 1 1 i Phila-j Cleve- Rich- [Atlanta Chicago! St. Louis 'delphia1 land | mond ! (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 a ccount Foreign Other Total deposits 1 1 7- r Kansas ! Dallas MinneCity ! apolis 1 San Francisco 40,307 2,418 9,355 2,339 3,217 3,709 2,279 7,143 1,472 712 1,531 1,307 4,825 20,485 289 174 519 21,467 828 18 8 854 5,858 4 1/ 56 .2/434 6,352 817 17 8 1 843 1,480 9 14 1 1,504 955 18 8 7 988 1,143 33 10 2 1,188 3,113 28 23 2 3,166 756 49 6 1 812 519 16 4 1 540 888 26 7 3 924 1,162 20 9 1 1,192 2,966 51 21 66 3,104 7,622 580 1,188 529 565 650 663 1,218 341 211 504 433 740 252 69,648 13 3,865 69 16,964 13 3,724 19 5,305 17 5,364 13 4,143 41 11,568 8 2,633 5 1,468 10 2,969 10 2,942 34 8,703 585 570 190 28 27 10 152 148 51 31 30 10 52 51 15 30 30 14 37 35 10 85 83 32 20 20 6 14 14 3 26 25 7 70,993 3,930 17,315 3,795 5,423 5,438 4,225 11,768 2,679 1,499 3,027 3,016 8,878 372 18 19 34 19 23 54 13 9 16 22 48 * CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace eptances purchased for forei correspondents V 97 34 33 7_ 76 74 25 FEDERAL RESERVE AGENTS ' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securiti es Total collateral 41,786 2,497 9,756 2,383 3,430 3,791 2,363 7,341 1,536 734 1,583 1,386 4,986 6,645 1 36,481 450 1,000 600 680 450 1,400 305 127 225 180 735 2,056 8,900 493 1 2,000 3,000 3,160 2,050 6,150 1,310 625 1,400 1,230 4,600 43,127 2,506 9,900 2,494 3,600 3,840 2,500 7,550 1,615 752 1,625 1,410 5,335 1/ After deducting $118 million participations of other Federal Reserve Banks, 2/ Includes IMF gol£ deposit. 3/ After deducting $275 million participations of other Federal Reserve Banks. * Less than $500,000.
@FedFRASER