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n.kiif^LKtfy Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release June 2, 1966 The average of daily figures of total member bank reserves held during the week ended June 1 increased a net of $136 million to $22,37*+ million. Estimated currency and coin of member banks decreased $37 million and their reserve balances at the Federal Reserve Banks increased $173 million. Estimated required reserves decreased $3 million; and estimated excess reserves increased $139 million to $448 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $364 million, compared with the revised net borrowed figure of §3kk million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $442 million in U. S. Government securities bought outright, $159 million in member bank borrowings, and $25 million in acceptances held under repurchase agreements. The principal offsetting changes were a decrease of $313 million in Federal Reserve float and an increase of $128 million in currency in circulation. Total Reserve Bank credit increased $312 million. As of Wednesday, June 1, holdings of U. S. Government securities bought outright were $288 million higher than a week earlier and member bank borrowings were $l4 million lower. Outright holdings of bills and bonds increased $254 million and $34 million, respectively. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securitiesBought outright--System account Held under repurchase agreements AcceptancesBought 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) Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) Averages of daily figures Week ended Change from week ended Wednesday, June 1, June 1, June 2, May 25, 1966 1966 1966 1965 (In millions of dollars) 41,457 +442 -- -- 82 99 812 20 1,670 44,139 13,534 5,868 63,541 41,987 995 839 149 393 633 +2,995 - 255 I 41,339 + 1 + 25 + + ! +159 - 1 -313 +312 + 2 + 8 +322 + 294 + 6 + 224 +3,367 - 757 + 469 +3,078 +128 + 7 - 16 + 19 + 18 +2,748 + 236 17 + 7 + 203 - 652 +2,525 =—L 44,996 +149 18,545 3,829 22,374 21,926 +173 - 37 +136 - 3 +139 448 + 33 70 553 + 4o4 + + + 957 840 117 | 83 95 364 20 1,481 43,382 13,534 5,876 62,792 42,211 978 855 132 434 600 45,210 17,582 4,115 21,697 22,234 - 537 On June 1, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,668 million, an increase of $31 million for the week and a decrease of $43 million from the comparable date a year ago. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS June 1, 1966 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises . Other assets —' TOTAL ASSETS L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other 2/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES Change since June 2, May 25, 1966 1965 11,362 1,730 13,092 + 15 + 3 + 18 -1,114 + 184 - 930 226 384 - 8 - 14 + + 112 156 83 95 + 3 + 23 + + 38 71 9,754 +254 12 --- +2,015 + 12 - 497 +1,305 +2,835 - 343 +2,492 +2,757 (842) 25,220 6,353 41,339 + 34 +288 -- 41,339 4i,90i +288 +300 (1,577) 6,240 -121 103 772 -- (2,419) 62,334 + 75 +264 + 531 + l + 453 +2,924 (842) 37,097 +271 +2,447 17,582 -101 +113 - 6 + 4i + 47 -f - - 97 + 12 +233 855 132 434 19,003 (1,577) 4,759 216 (2,419) 61,075 C A P I T A L A C C O U N T S Capital paid in 561 Surplus 551 Other capital accounts 147 TOTAL LIABILITIES AND CAPITAL -ACCOUNTS (2,1*19) 62,334 --- + 31 +264 82 94 - 24 + 231 + 195 + 509 - 292 +2,859 + 21 + 27 + 17 +2,924 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages-~not consolidated) 3^-5$ --1$ " 5-*$ Contingent liability on acceptances purchased for foreign correspondents 167 + 7 + 8 * 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, ril^cludes IMF gold deposit. MATURITY DISTRIBUTION 0F_ LOANS AND SECURITIES, JUNE 1, 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 advance3S 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 ** Less than $500,000. 351 33 •** ---. -« 384" Acceptances 113 65 ---__ 178 Holdings l,ll6 10,084 14,837 13,612 1,305 385 4l,339 during week -294 +268 +281 + 33 --- +2&S STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 1, 1966 H.4.l(h) Total Boston New York Philadelphia Cleve- Rich- Atlanta Chicago mond land (In millions. of dollars) St. Louis Minneapolis Kansas Dallas City San Francisco 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 11,362 ! 1,081 102 1.7S0 13,092 1,183 842 226 59 !3 2,3^1 410 2,751 648 93 74l 958 147 1,105 1,118 140 1,258 623 99 722 2,237 314 2,551 419 63 482 181 ^2 213 385 204 26 46 11 76 96 17 69 3h 85 15 38 39 14 19 15 44 77 --- —— -- — _. 794 1 2,054 517. 3,366 -- 672 1 1,738 438 2,849 -- h 384 76 52 Liscounts and advances Acceptances: --— Bought outright 83 ! 83 -Held under repurchase agreements 95 95 U. S. Government securities: Bought outright-2,420 46o 512 Bills 9>1^ 1 1 1 12 1 Certificates 3 6,258 25,220 1,190 1,323 Notes 300 333_ Bonds 6,353 1,577,. 10,258 2,169 Total 1,951 41,339 __ Held under repurchase agreements --— 454 245 58 303 1,126 203 1,329 23 6 35 11 50 13 60 28 14 10 h9 19 5 —-- —-- — -— --- --- 526 1 1,359 3^3_ 2,229 -- 1,651 2 4,270 1,075 6,998 -- 352 206 # 911 23c 1,^93 -- 532 13^ 872 — 373 * 962 242 1,577 -- 397 # 1,027 258 1,682 -- 1,391 2 3,596 906 5,895 -- * 6Q Total U. S. Government securities 41,339 1,951 10,258 2,169 3,366 2,849 2,229 6,998 l>93 872 1,577 1,682 5.895 Total loans and securities 41,901 2,003 10,512 2,173 3,385 2,864 2,273 7,075 1,507 882 1,626 1,701 5,900 7,817 103 772 507 3 28 1,490 9 333 1,350 55^ 20 20 3k_ 355 8 20 64,753 3,796 15,325 Cash items in process of collection Bank premises , Other assets —' TOTAL ASSETS 488 •3 34 3^96 535 5 51.,. 5,191 666 5 3JL_ 4,927 az- 3,716 i i , 190 2,425 229 3 15_ 1,371 525 7 2£_ 2,684 3^2 10 30_ 2,449 776 10 80 . 8,183 H. 4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 1, 1966 Total Boston New York Phila- Cleve- Rich- Atlanta Chicago St. Louis delphia land mond Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign corre spondent s 37,939 2,280 8,6l6 2,230 3,180 3,4oi 2,185 6,879 1,427 715 1,440 1,204 4,382 17,582 855 132 434 19,003 870 35 6 911 4,487 286 1/40 2/325 5,138 1,317 80 11 1 1,409 820 75 6 15 916 1,003 15 8 1 1,027 2,858 123 18 2 3,001 2,876 52 16 69 3,013 1,188 472 529 417 1,089 421 11 3 2 437 184 868 44 7 3 922 534 608 48 4 11 671 276 751 31 6 3 791 6,336 703 55 7 2 767 421 390 244 592 10 55 3,735 14,997 11 3,429 18 5,079 14 4,860 12 36 3,641 11,005 8 2,382 5 1,341 8 2,629 9 2,379 30 8,017 146 144 38 30 30 7 50 50 12 29 28 10 81 79 25 19 19 5 14 13 3 25 24 6 33 32 5 73 72 21 3,796 15,325 3,496 5,191 4,927 3,716 11,190 2,425 1,371 2,684^ 2,449 8,183 3/44 9 4 10 22 -97135^ 273JJ 10 8 24 6 15 FEDERAL RESERVE AGENT'S ACCOUNTS v^sT 3,567 2,359 7,208 1,512 1,000 500 2l6 63,494 : ; 561 551 147 '64,753 1 167 27 27 7 8 F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 34 33 8 600 906 425 1,100 8,300 1,900 2,950 2,693 1,975 6,300 315 13 1,310 9,300 2,4o4 3,550 3,599 2,4oo 7,4co 1,638 4 2,406 l/ After deducting $ 92 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. 3/ After deducting $123 million participations of other Federal Reserve Banks. San Francisco (In millions of dollars) LIABILITIES Federal Reserve notes Deposits: Member bank reserves U.S. Treasurer--general account Foreign Other Total deposits Minne- Kansas apolis City Dallas * Less than $500,000. 7_ 754" 1,523 1,306 4,655 127 225 180 735 645 1,350 1,180 4,300 772 1,575 1,360 5,035
@FedFRASER