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FEDERAL ^?fe^f> RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release March 2, 1967 H.4.1 The average of daily figures of total member hank reserves held during the week ended March 1, decreased a net of $396 million to $23,398 million. Estimated currency and coin of member banks increased $158 million and their reserve balances at the Federal Reserve Banks decreased $554 million. Estimated required reserves decreased $l4 million; and estimated excess reserves decreased $382 million to $171 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $4 million, compared with the revised figure of $76 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $310 million in member bank borrowings, $240 million in U. S. Government securities held under repurchase agreements, and $179 million in Federal Reserve float. The principal offsetting changes were an increase of" $98 million in U. S. Government securities bought outright, and a decrease of $107 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $628 million. As of Wednesday, March 1, 1967, holdings of U. S. Government securities bought outright were $78 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $684 million lower, and member bank borrowings were $272 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 Federal Agency obligations— Held under repurchase agreements AcceptancesBought outright Held under repurchase agreements Discounts and advancesMember bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency oustanding 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. 1, Mar. 2, Feb. 22, Mar. 1, 1967 1966 1967 1967 (In millions of dollars) 43,942 + 98 +3,790 222 -240 + 23 8 78 ^3,971 222 23 f 74 35 5 75 + 11 + 167 -310 - 1,676 13,108 6,433 65,724 -179 3£25 - 36 + 13 -651 - 298 +3,^52 - 625 + 762 +3,589 1,518 45,713 13,109 6,438 65,260 43,540 1,253 579 127 444 615 46,556 - 28 + 1 -107 - 1 + 10 + 27 T-98 +2,305 + 424 ! 43,573 1 1,263 475 133 k*i 610 19,166 4,232 23,398 23,227 171 -554 +158 + 981 + 301 +1,282 - 14 -382 +1,4o4 - 27 j 297 20 66 8 + 208 - 256 +2,608 - 122 : 115 -- 46,505 1 18,755 4,470 23,225 23,419 ! - 194 On March 1, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,367 million, an increase of $48 million for the week and a decrease of $382 million from the comparable date a year ago. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (in millions of dollars) Change since Mar. 1, Feb. 22, Mar. 2, 1967 1967 1966 A S S E T S Gold certificate account 10,796 1 913 Redemption fund for F. R. notes 1,829 *t + 109 Total gold certificate reserves 12,625 5 8oh Cash (619) 359 + 5 + 170 Discounts and advances 115 ~ 2T2 ~ 5^9 Acceptances: Bought outright 7h 4 ' 1 Held under repurchase agreements 35 63 6 Federal Agency obligations— Held under repurchase agreements — 75 U, S. Government securities; Bought outright— Bills 12,119 78 + 3 ^ 8 1 +1 Certificates ^351 — +,351 Notes 21,302 "3,569 Bonds 6422 12 - 351 Total bought outright W^l + 78 +3,912 Held under repurchase agreements ._— - 684 ~ Total U. S, Government securities lilitfjl " 606 +3,912 Total loans and securities ^ , 1 9 5 -1,020 +3,358 + Cash items in process of collection (l,92l) 7,255 50 + 263 Bank premises 107 — + 5 Other assets l/ 804 + 36 + 3^2 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,7^0) 65,3^5 - 9fo +3,33^ L I A B I L I T I E S Federal Reserve notes (819) 38,273 85 +1,973 Deposits: -1 ,030 + 969 18,755 Member bank reserves + - 262 77 475 U. S. Treasurer—general account + 4 - 21 133 Foreign 4-31 + 213 176 Other 2/ 19,8i4 ^1 ,125 + 899 Total deposits + 245 Deferred availability cash items (1,921) + 371 5,737 Other liabilities and accrued dividends 225 1 + 2J +3,270 TOTAL LIABILITIES (2,74o) 64,o49 972 £ A2I_AL ACCOUNTS 2 576 + 19 Capital paid in 570 + 19 Surplus 150 + 26 36 Other capital accounts Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) .1* 32.3$ - 3.7* Contingent liability on acceptances purchased + + 68 14 for foreign correspondents 203 * 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, MARCH 1, 1967 (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 and Discounts and Federal Ageiicy obligations advances Acceptances Holdings Weekly changes Within 15 days -1,222 110 1,^17 55 16 days to 90 days ■+ 184 11,846 5^ 5 91 days to 1 year -_ -19,^00 + 357 Over 1 year to 5 years — — 10,053 Over 5 years to 10 years -«.rs 853 Over 10 years — — — 1+02 Total 115 109 ^3,971 - 681 H. h. 1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 1, 1967 Total Nev York Boston Phila delphia — 438 157 770 224 24l 470 169 826 240 74 35 -• 642 ^3,971 i 2..329 3,043 1,092 5,349 1,557 11,c4i 623 224 1,096 319 2,262 953 342 1,675 488 3,458 881 316 1,548 450 3,195 679 244 1,194 347 2,464 2,021 725 3,551 1,034 7/331 ^3; 971\ 2 ,329 11, c4i 2,262 3,458 3,195 2,464 J 44,195 2,,332 11,161 2,264 3,459 3,207 9A76 107 804 593 3 29 1,580 9 367 537 2 33 7l4 5 51 ,685 16,306 3,592 5,369 115 3 | 7^ Wo 35 San Fran cisco — 366 22 32 236 32 268 423 72 303 62 1,434 217 365 48 19 1,651 12 9 495 20 17 5 24 8 i -- 73 4i • 1 12,119 231 K 351 21,302 : 1,128 328 6,199 Total U. S. Government securities Cash items in process of collection Bank premises Other assets l/ TOTAL ASSETS 68,085 i * , ••• • ; 3- — l...... — ■■■■ - " ■ ' ■ ■ ■■. ■■"■ ■■ ■ _ — — - . . 1/ Includes assets denominated in foreign currencies and IMF gold deposited -- -- i - — l 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 .1. -- 2 59 12 - " - - . ■ -- 11 819 359 ■ ' — 15 118 60 I 1 — 31 9 F. R» notes of other Banks Other cash 2,943 203 43 -' 2 h7 657 " " 12 1,195 12,625 Total leans and securities 49 21 535 101 2,503 ■ Kansas Dallas City 636 88 43 1,043 152 556 101 ■ Minne apolis 302 64 8C9 153 962 10,796 1 1,829 ' St. Louis 2,048 339 2,387 80 53 6c4 96 700 Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves . Rich- Atlanta Chicago mend (In millions of dollars) A S S E T S — Cleve land 1,621 582 2,850 829 5,882 1,589 424 123 875 1,705 507 182 891 260 1,840 7,331 1,589 875 1,705 1,840 5,882 2,466 7,362 1,6C4 880 1,729 1,848 5,883 737 6 35 768 20 34 1,520 19 90 467 9 21 285 3 13 6l6 12 24 514 10 29 845 9 78 5,250 4,055 11,511 2,521 1,470 2,913 2,833 8,580 87 H.4.1(c) STATEMENT OF CONDITION OF EACH FETERAL RESERVE BANK OK MARGE 1, I967 Total L I A B I L I T I E S Federal Reserve notes 39,092 Deposits: Member bank reserves 18,755 U. S. Treasurer—general account 475 133 Foreign 451 Other Total de-posits 19,814 Deferred availability cash items Other liabilities and accn.led dividends TOTAL LIABILITIES Boston 1 r : | j Phila-j Cleve j Rich- 1Atlanta Ichicagoi St. Louis |delphia| land 1 mond J millions (In of dollars) 1 1 r i i San ! Minne-1 Kansas !Dallas 1 Fran| cisco apolisj City 1 9,080 2,237 3,221 3,596 2,204 7,072 1,427 .688 1,^71 1,237 4,520 675 5,116 , 51 1/ 45 2/359 5,571 1,261 765 28 6 15 814 1,381 33 11 1 1,426 875 2,878 61 17 1 620 43 4 1 477 23 3 666 16 52 3,130 590 373 503 244 1,055 21 7 5 1,088 461 2,957 1,252 844 47 5 3 899 478 3,007 9 945 622 1,062 27 7 5 1,101 4-27 731 12 57 3,623 15,969 12 3,524 18 5,255 17 5,180 12 38 3,976 11,319 8 2,476 5 l,44o 8 2,856 30 30 10 84 83 25 20 20 5 14 14 2 26 25 6 1,^70 2,913 2,833 8,580 7 5 9 12 26 1 225 66,789 i 2,339 i3 6 7,658 New York * 712 56C 659 9 29 2,761 6,4io CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for foreJ•gn correspondents 28 27 7 149 148 40 30 30 8 52 51 11 68,o85__ i 3,685 16,306 3,592 5,369 10 Jj 53 11_ 16 576 i 570 | 150 i 203 36 35 8 5,250 _4,055_ J.1,511 10 „ _ 1 3 = 29_ 2,521. 33 33 6_ 74 74 22 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 2,466 9,574 2,308 3,490 3,719 2,338 7,408 1,494 718 1,534 1,340 4,799 1,000 600 740 450 l,4oo 300 127 225 180 735 8,900 483 2 2,000 3,000 3,035 2,050 6,150 1,310 635 i,4oo 1,230 4,6oo 9,900 2,485 3,600 3,775 2,500 7,550 1,610 762 1,625 1,410 5,335 1/ After deducting $ 88 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $150 million participations of other Federal Reserve Eanks. * Less than $500,000. H.k.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Mar. 8, Mar. 1, Mar. 9, 1967 1967 1966 A S S E T S Gold certificate account 10,784 12 923 Redemption fund for F. R # notes 1,836 + I + 11.2 Total gold certificate reserves 12,620 5 8^4 Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities (720) 351 327 8 + 212 + 150 - 179 70 73 k t- 38 3 72 72 72 329 +3,551 +4,350 -3,5^9 - 352 +4,000 + 866 +4,866 +4,756 + 578 + 6 +_.__222 +4,915 12,448 ^,351 21,3^2 6>2Q9 W,350 866 45,216 ^5,758 Cash items in process of collection (l,659) 6,468 108 Bank premises 728 Other assets l/ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,379) 66,033 L I A B I L I T I E S Federal Reserve notes (720) 38,435 Deposits: Member bank reserves 20,187 U. S. Treasurer—general account l8l Foreign 123 Other 2/ 447 Total deposits 20,938 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (1,659) (2,379) C A P I T A L ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts 5,075 252 64,700 576 570 187 + — + + + + 4o 10 379 866 +1£& +1,563 - 787 + 1 76 + 688 u 162 +1,915 +1,432 - 294 - 10 4 ,124 +1,124 +lj +2,1*99 - 270 - 59 + 195 +2,365 - 662 ^62 + + 27 + 503 + SI +4,840 + 65I — — 37 + 19 + 1 9 + 37 Ratio of gold certificate reserves to P. R. note liability (computed from figures as shown on the following pages—not consolidated) 32-2$ .1$ - 3 - 6 $ Contingent liability on acceptances purchased for foreign correspondents 205 + 2 + 7 0 * 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, MARCH 8, 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 323 16 days to 90 days k 91 days to 1 year — Over 1 year to 5 years -Over 5 years to lu years — Over 10 years — Total 327 Acceptances 94 49 — — — — 1^3 U. S. Governement securities and Federal Agency obligations Holdings Weekly changes 2,485 +1,068 12,086 + 240 19,358 42 10,103 + 50 853 402 12 ^5,287 +1,316
@FedFRASER