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.•^0*GOVi FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. B a n k s For immediate release March 3, 1966 The average of daily figures of total member bank reserves held during the week ended March 2 decreased a net of $6 million to $22,098 million- Estimated currency and coin of member banks increased $138 million and their reserve balances at the Federal Reserve Banks decreased $lkh million. Estimated required reserves increased $89 million; and estimated excess reserves decreased $95 million to $292 million- Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $172 million, compared with the revised net borrowed figure of $133 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $72 million in U. S. Government securities bought outright, $67 million in Federal Reserve float, and $56 million in member bank borrowings. The principal offsetting change was a decrease of $36 million in Treasury deposits with Federal Reserve Banks, Total Reserve Bank credit decreased $181 million. As of Wednesday, March 2, holdings of U. S. Government securities bought outright were $59 million higher than a week earlier and member bank borrowings were $8 million higher. 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 d a i l y Week ended Change from Mar. 2 , Feb. 2 3 , 1966 1966 ( I n m i l l i o n s oir figures week ended Wednesday, Mar. 2, Mar. 3 , 1966 1965 dollars) i+o,152 -- - 72 -- +3,317 76 73 1+8 - 1 + Ik + + 19 26 73 1+1 k6k + 19I+ 25 + 50 + 3,505 -1,169 + 269 +2,605 61+1+ 13,733 5,669 62,133 - 56 -- 67 -181 -+ 9 -173 20 1,626 1+2,463 13,73^ 5,668 61,865 1+1,230 832 6I+5 135 236 871 53,91+8 + 11 - 8 - 36 + 6 + k - 5 - 29 +2,605 + 126 - 277 24 + 19 - 353 +2,095 1+1,256 828 737 154 238 866 kk, 079 18,185 .3,913 22,098 21,806 292 -Ikk +138 - 6 + 89 - 95 + + + + + 17,786 1+.C63 21,81+9 22,007 -158 20 1,971+ te,73l 510 1+52 962 882 80 1+0,059 -- On March 2, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,7^9 million, a decrease of $138 million for the week and a decrease of $14-7-0 million from the comparable date a year ago. H.k.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESEI^E BANKS (In millions of UUXJ-CU. dollars) OJ Change since Feb. 23, Mar. 3, 1966 1965 M&r. 2, A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves + 15 - 3 + 12 -1,277 + 173 -1,104 + 3 + 8 + + 26 6k 73 41 + 10 + + 18 6 8,638 + 59 +2,244 + 59 - 826 +1,704 +3,122 11,709 1,720 13,429 (1,020) 189 664 Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements U. S. Government s e c u r i t i e s : Bought o u t r i g h t - Bills Certificates Notes Bonds Total Toought outright 24,871 6,550 40,059 Held under repurchase agreements Total U. S. Government securities Total loans and securities - --_ 40,059 40,837 Cash items in process of collection Bank premises . Other assets i/ TOTAL ASSETS 36 + 59 + 77 +3,086 (1,753) 6,992 102 462 (2,773) 62,011 +794 + 766 + 52 + 28 +"938" +2,590 (1,020) 36,300 - 64 +2,402 +534 -141 + 25 + 9 +4"2T + + + + +530 + 16 +909 + 733 - 404 +2,825 + + 25 + 27 + 13 +2,890 L I A B I L I T I E S Federal Reserve notes ~* Deposits: Member "banic reserves 17,786 U. 3. Treasurer—general account 737 Foreign 154 Other 2/ 238 Total deposits 18,915 Deferred availability cash items (1,753) 5,366 Other liabilities and accrued dividends 198 TOTAL LIABILITIES (2,773) 60,779 C A P I T A L A C C O U N T S Capital paid in 557 Surplus 551 Other capital accounts 124 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,773) 62,011 1 + 28 +93%~ +3,174 178 121 11 26 9^ Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 36.0$ +.1$ - 6.0$ Contingent liability on acceptances purchased for foreign correspondents 135 — + 16 * Figures in parentheses are the eliminations made in the consolidating process; . see comparable figures on combined basis on the following pages. I/lncludes assets denominated in foreign currencies and IMF gold deposited. -/includes IMF gold deposit. „, „ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 2, 1966 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Di£3counts 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 ** Less than $500,000. 635 29 # • * Acceptances 48 66 m *M — -«.- -_- 554" H4" U. S. Government securities Changes Holdings during week -237 899 +403 10,255 -107 13,952 — 13,119 — 1,449 385 40,059 — + 59 STATEMENT OF COKDITICW OF EACH FEDERAL RESERVE BANK ON MARCH 2, 1966 H. 4.1(b) Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 606 1,087 1,136 _9-l_ JLki. 616 766 1,232 1,279 248 28 69 9 98 16 90 14 71 18 10 675 703 2,759 411 3,170 1,020 189 65 13 664 Discounts and advances Acceptances: bought outright 73 4i Held under repurchase agreements U. S. Government securities: "Bought outright-8,638 Bills Certificates 24,871 Notes 6,550 Bonds Total 40,059 Held under repurchase agreements 38 F. R. notes of other Banks Other cash 11,709 1,72013,429 -92. 88 399 64 463 _2i_ 713 2,188 3i5_ 2,503 115 24 91 27 42 10 30 6 43 235 59 16 3uL 163 195 4i8 J2X. 485 468 56 524 28 9 62 9 35 29 l, 194 202 1,396 82 24 22 73 4i 449 2,132 455 713 589 490 l,461 313 190 329 324 1,193 1,293 340 2,082 6,139 1,617 9,888 1,308 345 2,108 2,054 54i 3,308 1,696 447 2,732 1,412 372 2,274 4,208 1,108 548 144 948 249 930 245 3,434 905 6," 777' 901 237 1,451 882 1,526 1,499 L ~575B'2 _ Total U. S. Government securities 40,059 2,082 __9,.888_ 2,108 3,308 2,732 2,274 6,777 1,451 882 1,526 1,499 5,532 Total loans and securities 40,837 2,120 10,073 2,126 3,318 2,820 2,317 7,012 1,510 898 l,56l 1,528 5,554 1,638 9 144 522 3 23 631 5 37 647 5 26 680 20 24 1,480 20 65 4i3 7 15 282 3 12 561 7 19 464 10 18 881 10 58 3,471 15,310 3,518 5,337 4,881 3,893 11,198 2,460 1,426 2,670 2,615 8,005 Cash items in process of collection Bank premises Other assets —I 8,745 102 462 TOTAL ASSETS 64,784 546 3 21 l/ Includes assets denominated in foreign currencies and IMF gold deposited. STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 2, 1966 H.4.1(c) Total Boston New York Philadelphia Deferred availability cash items Other liabilities and acenjed dividends TOTAL LIABILITIES Richmond Atlanta Chicago St. Louis Minneapolis ! San Kansas Dallas j FranCity 1 cisco (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 aic count Foreign Other Total deposits Cleveland 37,320 2,232 8,474 2,191 3,175 3,358 2,165 6,783 1,420 693 1,403 1,177 4,249 17,786 737 154 2^8 18,915 619 33 7 * 659 4,864 ,120 1,397 51 13 834 73 7 l,46l 922 1,026 63 9 1 1,099 2,877 91 21 ? 2,991 596 58 5 1 660 420 35 4 * 459 738 41 6 2/l69 5,200 746 55 8 2, 811 788 945 40 8 ? 995 2,724 77 19 50 2,870 7,H9 510 1,267 441 575 523 545 1,212 331 240 417 367 691 10 108 | 63,552 3,411 48 14,989 9 3,452 16 5,227 12 4,815 11 3,820 ^2 11,018 7 2,4l8 5 1,397 8 2,6l6 7 2,546 7,843 27 27 6 145 144 32 30 30 6 50 50 10 29 28 9 34 33 80 79 21 19 19 4 13 13 3 25 24 5 32 32 5 73 72 17 [ 64,784 i 3,471 15,310 3,518 5,337 4,88j^_ 3,893 11,198 2,46o 1,426 2,670 2,615 8,005 6 8 18 * , 8 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace;eptances purchased for forej-gn correspondents F.R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 1 1 557 551 i 124 8 12 7 19 FEDERAL RESERVE AGENT'S ACCOUNTS 135 7 3/35 39,772 2,351 9,011 2,286 3,447 3,530 2,357 7,223 1,502 730 1,482 1,267 4,586 6,660 75 34,637 440 1,000 500 600 888 550 1,100 127 225 180 735 1,945 8,200 1,900 2,950 2,677 1,900 6,4oo 315 58 1,310 625 1,300 1,130 4,300 41,372 2,385 9,200 2,417 3,550 3,565 2,450 7,500 1,683 752 1,525 1,310 5,035 7_ 17 l/ After deducting $ 107million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. 3/ After deducting $ 100million participations of other Federal Reserve Banks. 5__ !_ * Less than $500,000.
@FedFRASER