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..VP.SS&-. %; FEDERAL RESERVE: Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release March l6, 1967 The average of daily figures of total member bank reserves held during the week ended March 15, increased a net of $50 million to $23,257 million. Estimated currency and coin of member banks increased $l8l million and their reserve balances at the Federal Reserve Banks decreased $131 million. Estimated required reserves increased $kk million; and estimated excess reserves increased $6 million to $377 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $2(A million, compared with the revised figure of $169 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $1^4-8 million in U. S. Government securities bought outright, $88 million in Federal Reserve float, and $7^ million in acceptances held under repurchase agreements, and an increase of $182 million in currency in circulation. The principal offsetting changes were an increase of $100 million in U. S. Government securities held under repurchase agreements, and a decrease of $207 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $180 million. As of bought outright ties held under borrowings were Wednesday, March 15, 19^7, holdings of U. S. Government securities were $55 million lower than a week earlier, U. S. Government securirepurchase agreements were $551 million lower, and member bank $^9 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 Special Certificates Federal Agency obligationsHeld under repurchase agreements AcceptancesBought 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) Member bank reserves: With. Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) Average of daily figures Week ended Change from week ended Wednesday, Mar. 15, Mar. 15, Mar. 8, Mar. 16, 1967 1967 1967 1966 (In millions of dollars) -148 +100 + 64 +3,776 + 3C9 + 64 ! 44,295 356 64 15 3 15 12 70 — - 2 - 74 5 77 173 _- - 29 -- 20 i 1,465 ^6,271 13,107 6,463 - 88 ^180 - 2 + 16 I "657841 ~F6 - 276 +37423 - 626 + 778 +3,575 43,753 1,283 244 135 454 674 +182 + 12 -207 + 3 + 19 - 46 +2,273 + 46l - 102 45 + 2C7 T575W ^15 +2,656 ! 43,788 1,301 i 452 1 128 i 455 1 595 ; 46,719 19,296 3,96l 23,257 22,880 -131 +181 + 50 + 44 + 6 + 918 + 218 +1,136 +1,122 + 14 44,128 377 - - 315 — 70 1 278 363 139 1,528 ! 4'67498 ! 13,109 i 6,471 I 66,078 : 19,358 i 4,46l j 23,819 1 23,303 ; 516 On March 15, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,^-37 million, an increase of $109 million for the week and a decrease of $357 million from the comparable date a year ago. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (in millions of dollars) Change since Mar. 15, Mar. 8, Mar, 16, 1966 1967 1967 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 10,784 1,828 12,612 (692) Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities 345 278 - 8 - 932 + 115 - 817 6 49 + 147 + 144 73 6 - 155 60 12 55 +3,484 +4,350 -3,5^9 - 352 +3,933 + 266 +4,199 +4,194 70 12 12,393 4,351 21,342 6,2u9 44,295 315. 44,6lo 44,970 Cash items in process of collection ,011) 7,635 108 Bank premises 752 Other assets l/ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,703) '>703) 66,422 606 788 + + 24 389 - 170 + 6 + 232 +3,592 (692) 38,467 + 32 +1,916 19,358 452 128 455 + + + 20,393 829 271 5 8 - 5^5 +1,160 + 225 - 18 + 184 +1,,551 6,107 228 (2,703) 65,195 +1,032 24 + ^95 + 48 + 35 +3,550 107 19 19 4 L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U, S. Treasurer—general account Foreign Other 2/ Total deposits (2,011) Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 55 - C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts 577 570 80 +1 ,167 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 32.2$ — - 3,6$ Contingent liability on acceptances purchased for foreign correspondents 205 — + 78 * Figures in parentheses are the eliminations made in the consolidating process, l/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOAMS AMD SECURITIES, MARCH 15, 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 275 3 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 20 50 U. S. Government securities and Federal Agency obligations Holdings Weekly changes 1,872 -613 12,150 + 64 19,242 -116 10,103 853 278 70 402 44,622 -665 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 15, 1967 H. 4.1(b) Total Boston New York Philadelphia Cleve- Rich- Atlanta Chicago St. land mond Louis (In millions of dollars) Minne- Kansas Dallas apolis City San Francisco A S S E T S F« R. notes of other Banks Other 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 Held under repurchase agreements 842 153 1,055 569 102 2,070 156 727 995 1,211 671 2,409 438 32 284 34 95 45 16 8 18 9 19 69 42 68 58 51 32 8 104 7 4 10 22 35 2 6 70 -• -- — -- --- __ --- 448 157 771 224 246 87 455 123 559 100 2,417 659 51 ; 692 345 2,855 182 11 40 : 278 2 ! 70 -- -- 438 — 656 12,393 231 i 4,351 ! 21,342 1,130 j 6,209 329 44,295 "2jW> 3,113 1,092 5,359 1.359 11,123 637 224 975 342 900 316 694 244 2,067 1,098 1,679 1,551 1,196 1,600 315 -- 44,6io 2,346 11,438 2,279 3,484 11,624 2,286 315 | Total loans and securities 1 44,970 2,348 Cash items in process of collection Bank premises Other assets l/ 1 9,646 108 1,128 16 438 61 499 38 19 7 4 75 — — «-- -«.- 481 169 827 24l 1,683 2,900 m~ 1,718 -.-- 493 173 848 247 1,761 6,018 -- -- 448 71 519 217 1,345 68 4o 725 591 320 488 *51 348 2,279 3,484 3,218 2,482 -- -- -- 3,218 2,482 7,385 1,600 881 1,718 l,76l 6,018 3,488 3,228 2,504 7,420 1,602 887 1,725 1,765 6,093 893 20 31 1,595 19 84 480 9 19 300 3 12 583 12 22 529 10 25 836 9 72 4,23<3 11,646 2,596 2,895 2,885 8,463 — 597 3 28 1,721 10 352 583 2 29 750 5 44 779 6 1 69,125 3,697 16,784 3,670 5,435 5,322 752 252 3,558 1,035 7,385 I 1/ Includes assets denominated in foreign currencies and IMF gold deposited 339 374 64 _ 12 12 Total U. S. Government securities TOTAL ASSETS 632 95 10,784 1,828 12,612 Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 3i_ 1,502 844 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH" 15, 1967 H.4.1(c) Total Boston New York Phila1delphia 1 1 St. Cleve- j Rich(Atlanta '(Chicago Louis land i mond i i ! San " ! Minne- Kansas ! i Dallas Franapolis City I Cisco (In millions of dollars) L I A B I L I T I E S Federal Reserve notes 39A59 Deposits: Member bank reserves 19,358 U. S. Treasurer--general account 128 Foreign 455 Other Total deposits 20,393 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 2,345 683 27 6 9,065 2,244 3,223 3,609 2,205 7,073 1,437 695 1,482 1,244 ^,537 812 28 6 6 852 1,393 31 11 * 1,435 894 58 6 11 2,996 15 17 2 3,030 690 25 4 1 720 495 18 3 969 1,123 45 8 2 1,178 516 838 39 5 3 885 1,093 33 7 2 1,135 2,901 52 16 58 3,027 ! * 1 716 5,44o 81 1/ 39 2/370 5,930 8,118 ! 565 1,409 498 651 66k 759 1,325 388 257 465 427 710 62 228 ! 12 167,898 i 3,638 16,466 12 17 5,326 15 5,257 12 4,154 37 11,465 8 2,553 5 1,473 9 2,841 9 2,815 30 8,304 30 30 5 36 35 5 84 83 14 20 20 3 14 14 1 26 25 3 34 33 3 74 74 11 2^596_ 1,502 2,895 2,885 8,463 5 9 12 27 | 1 3,606 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents 27 4 149 148 21 30 30 4 52 51 6 69,125 3,697 16,784 3,670 5,435 205 10 1/ 53 10 18 28 577 570 i 80 i J?,322_ 11 4,230 11,646 13 30 7 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 4l,Oo9 2,421 9,518 2,300 3,480 3,735 2,337 7,373 1,505 718 1,548 1,343 4,791 j 6,690 450 1,000 483 600 74o 450 l,4oo 300 127 225 180 735 36,756 2,01b 8,900 2,000 3,000 3,035 2,500 6,150 1,310 615 1,1*00 1,230 4,600 |^3,^6 i 2,466 9,900 2,483 3,600 3,775 2,950 7,550 1,610 742 1,625 i,4io 5,335 1 $ 89 million participations 1/ After deducting of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $152 million participations of other Federal Reserve Banks. * Less than $5^0,000.
@FedFRASER