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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release June 1, 1967 The average of daily figures of total member bank reserves held during the week ended May 31, increased a net of $3 million to $23,080 million. Estimated currency and coin of member banks increased $102 million and their reserve balances at the Federal Reserve Banks decreased $99 million. Estimated required reserves decreased $^0 million; and estimated excess reserves increased $^3 million to $366 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $26^ million, compared with the revised figure of $273 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks was a decrease of -1382 million in Federal Reserve float, and increases of $121 million in currency in circulation, and $37 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $127 million in U. S. Government securities bought outright, $69 million in U. S. Government securities held under repurchase agreements, and $52 million in member bank borrowings, and a decrease of $196 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $l60 million. As of Wednesday, May 31, 19^7, holdings of U. S. Government securities ( bought outright were $213 million higher than a week earlier, U. S. Government 1 securities held under repurchase agreements were $323 million higher, and member ; bank borrowings were $360 million higher. Outright holdings of bills increased $105 I million, notes increased $65 million, and bonds increased $^3 million. Member bank reserves, Reserve Bank credit, and related items Week ended May 31, 1967 Change from week ended(Wednesday, June 1, j May 31, May 2 k , 1966 1967 1 1967 (In millions of dollars) 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 •<5,657 69 +k ,200 +127 + 69 + 69 323 1 71 6 102 + - 1 28 + 52 25 1,150 1j7,081 13,109 -382 -160 6,591 + 23 ( 64,736 ! 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) kk, 194 1,380 872 158 1)39 85^ • + - - — +121 - 11 -196 + 37 - 3 + 13 - • 11 70 93 -- 710 5 390 25 1,2^8 *<7,799 13,109 6,595 520 +2 19^2 i|25 722 +3 7235 +2 ,206 + 385 4 33 + 9 + h6 + 221 +2,901 Member bank reserves: 67,503 Mi, 1*15 1,37i< 57I 193 1)1)3 870 ^7,869 19,63b + 338 18,C83 - 99 With Federal Reserve Banks + +102 k .197 _ 3i i Currency and coin (estimated) 2F 7OO8 + 712 + 3 23,080 Total reserves held + 782 22,689 if O 22,71*1 Required reserves (estimated) 70 1,319 + 13 366 Excess reserves (estimated) Gn May 31 , 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,799 million, a decrease of $38 million for the week and an increase of $131 million from the comparable date n venr nrro. - H.4.l(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (in millions of dollars) May 31, A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves * Cash 10,798 1,810 12,608 (^77 ) discounts and advances Acceptances: Bought outright Held under repurchase agreements federal Agency obligations-Held under repurchase agreements U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total U, S. Government securities Total loans and securities + + 329 m m 415 + 25 4 21 6 360 -- 70 31 13,464 4,352 21,572 6,335 45,743 323 46,o66> '*6,551 (1 ,887) 6,314 Gash items in process o f c o lle c tio n Bank premises Other assets l / 108 588 TOTAL ASSETS/LL4BILITIES & CAPITAL ACCOUNTS (2,364)66.498 L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other 2/ Total deposits (477)39,022 19,634 574 (*) Deferred a v a ila b ilit y cash items Other l i a b i l i t i e s and accrued dividends 193 - 443 20,844 (1 ,887) 5,066 245 (2,364)55^77 TOTAL LIABILITIES c a p i t a l Change since May 24, June 1, 1966 1967 + 105 -- + + + + + + 65 43 213 323 536 "'865 + - 564 8C 484 + + 103 31 - 13 95 +3,710 + 4,340 -3,648 + 2 +4,4o4 + 323 + 4,727 +4,650 — + + 263 1 19 635 + 74 + 5 - 184 +4,164 + 279 +1,925 + 1,050 - 596 + 71 + 7 + 532 + 2,052 - 281 + 6l + 9 +1,841 4+ 229 15 597 + 307 + 26 +4,102 a c c o u n t s Capital paid in Surplus Other ca p ita l accounts •»• -- 582 570 169 + 38 + + + 21 19 22 Ratio of gold certificate reserves to F, R. note liability (computed from figures as shown on - .1* the following pages— not consolidated) - 2 .6?» 3 1 .9$ Contingent liability on acceptances purchased + for foreign correspondents 11 348 + 181 * 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 CF LOANS AND SECURITIES, MAY 31, 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 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 Acceptances 386 16 29 --- 54 --— __ -415 70 U. S. Government securities and Federal Agency obligations Holdings Weekly changes m .U 1,871 + 6h 11,892 +360 17,658 13,168 + 67 + 23 960 + li 477 ^536 46,0^6 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE RANK ON MAY 31, H.4. L (b) Total Boston New York Phila delphia Cleve land Rich Atlanta Chicago mond _________ 1967 St. Louis Minne~ apolis Kansas Lallas City San Fran cisco (In millions of dollars) A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 1 0 ,7 9 8 1,610 " 1 2 ,6 0 8 477 F. R. notes of ether Banks Other cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements V. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total Held under repurchase agreements 739 103 2,89*1 4 3 !) 592 8 M- 151 895 152 ^88 10 0 2 ,0 2 3 9k W v2~ 3 ,3 2 8 686" 995 1,01)7 588 2,359 30 hot 1,207 21 18 35 36 9 64 w 16 10 34 7 20 16 56 3 144 23 19 16 -- _— -- -- -- — *483 280 51*3 524 156 175 ■ 774 228 l,64i 91 449 132 952 -- 1 20 70 — -- ••— -- 690 1,039 223 336 1,665 3A36 1,111 5,505 1,622 993 2l4 35 55 26 13, *i6i) 701 226 A 352 21,572 1,123 6,355 331 2,381 A , 7^3 60 58 4i 34 — ~ 3*)6 71 18 415 -- 269 368 58 51 11 — 237 32 6 329 70 379 63 442 19 l4l 36 34 336 1,106 326 2 ,3V 5 -- — 234 2,230 721 l,l6l 3 1)2 3,57*) 1,053 3,531 -- 97l) 315 1,560 1)59 3,308 -- 2,462 -- 7,578 491 725 — 1,839 169 839 595 2,9*)Y 868 1,81)3 1,779 -- 6,21)9 -- 869 256 323 -- 11,67*1 323 Total U. S. Government securities 46 ,066 2,381 11,997 2,31)5 3,531 3,308 2 , k 62 7,578 1,64a 952 1,81)3 1,779 6,21)9 Total loans and securities 1)6,551 2,1)15 12,093 2,31)6 3,551 3,364 2,1)65 7,722 1,664 971 1,859 1,788 6,313 508 1,596 652 681 216 494 5 6 30 22 20 20 1,333 19 380 10 584 2 21 637 3 17 9 13 3 9 13 15 1)31 9 17 689 9 48 Cash items in process of collection Bank premises Other assets l/ TOTAL ASSETS 8,201 108 588 j 68,862 3,83c 322 17,526 — 3,864 5,327 1/ Includes assets d e n o m i n a t e d i n foreign currencies and IMF sold deposited. 5,139 3,873 -- 5^ 11,577 2,556 1,1)85 2,856 2,690 6 ,3 3 7 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 31, H.4.1(c) ------- 1--- 1 Boston Total L I A B I L I T I E S Federal Reserve notes leposits: Member tank reserves U.S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Cther liabilities and accrued dividends TOTAL LIABILITIES 1967 1 New York 1 Phila-[ Cleve ! Richdelphia j land | mond Atlanta |Chicago 1 (In millions of dollars) Minne apolis St. Louis Kansas Dallas City San Fran cisco 4,666 39,495 2,359 9,169 2,292 3,190 3,627 2,214 7,C55 1,446 706 1,505 1,270 19,634 574 193 443 2C,644 786 6,127 722 2/375 52 8 2 639 6,672 1 767 1,449 861 1,066 749 515 32 4 1 552 947 17 1 3,064 39 28 1 3,132 796 3^ 10 820 24 10 7 706 116 1,369 62 1,027 44 9 * 860 72 11 1 1,031 6,953 555 1,275 523 553 563 497 1,154 310 191 423 3C5 245 13 19 5,211 16 5,067 13 39 10 1,454 10 3,792 11,360 8 2,513 5 67,541 69 17,165 11 3,766 2,796 2,6l6 6,166 562 570 169 27 3C 3C 12 36 35 10 85 83 29 2C 2C 5 14 14 3 26 25 7 33 74 74 3 - 23 5,139 . 3,673 11,577. 2.558 1,465 2.65 6 2 ,69c 6,317 51 12 8 20 45 1 / 52 3,593 28 12 1 33 7 1 2,751 36 25 - 52_____ 2,864 6c4 32 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents 28 31 30 9 152 148 4l 10 52 51 13 68,862 3,93'0 17,526 3,664 5.327 348 17 3/ 91 18 31 18 22 FEDERAL RESERVE AGENTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 41 ,036! 2,420 • 6,695 ^5C __ — 36,336 2,036 43,031, 2,486 . ACCOUNTS 9,542 2,321 3,417 3,720 2,297 7,279 1,527 734 1,566 1,355 4,856 l,CCt _— 8,9C0 463 — 2,0CC 600 74c — 3,035 450 __ 2,050 1,400 — 225 18c 735 6 ,1 5 C 305 -1,310 127 — 3 ,0c0 625 9,900 2,463 3,6c o 3,775 2,50c 7 ,3 5 0 1,615 752 / 2 / I n c l u d e s I14F g o l d d e p o s i t . - A f t e r d e d u c t i n g ip2 5 Y m i l l i o n p a r t i c i p a t i o n s Digitized -2./ for FRASER 15 . _ — -_ 1,400 1,625 — 1 .2 3 0 l,k lO 4.600 5,335 / * of other Federal R e s e r v e Panic s . Less than $5CO,OCO.
@FedFRASER