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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release May 12, 1966 The average of daily figures of total member bank reserves held during the week ended May 11 decreased a net of $146 million to $22,597 million. Estimated currency and coin of member banks decreased $224 million and their reserve balances at the Federal Reserve Banks increased $78 million. Estimated required reserves decreased $223 million; and estimated excess reserves increased $77 million to $356 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $324 million, compared with the revised net borrowed figure of $338 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $217 million in U. S. Government securities held under repurchase agreements, $185 million in U. S. Government securities bought outright, and $63 million in member bank borrowings, and a decrease of $26 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $151 million in Federal Reserve float and $43 million in acceptances held under repurchase agreements, and an increase of $234 million in currency in circulation. Total Reserve Bank credit increased $271 million. As of Wednesday, May 11, holdings of U. S. Government securities bought outright were $243 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $27 million lower, and member bank borrowings were $695 million lower. Member bank reserves, Reserve Bank credit, and related items Averages of daily figures Week ended Change from week ended Wednesday, May 11, May 4, May 12, May 11, 1966 .1966. JL26£„ .^1266 (in millions of d o l l a r s ) Reserve Bank credit: U0 S. Government securities— Bought 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) 40,940 299 +I85 +217 +3,375 - 326 40,766 236 80 34 - 43 27 16 80 31 182 194 20 1,538 42,865 13,53^ 5,826 62,225 680 22 + 1.777 43,831 13,618 5,819 63,268 63 2 151 +271 - 15 + JLZ +274 + 6 + 220 +3,499 - 777 + 420 +3,1^2 41,834 94l 517 131 391 411 44,225 +234 - 3 + 7 - 26 - 9 - 6 +196 +2,763 + 197 - ^93 3 + 200 - 4io +2,253 41,969 952 496 124 1 381 j 4oi i ^,323 19,044 .3,553 22,597 22,241 356 + 78 -224 -146 -223 + 77 + 890 + 242 +1,132 +1,125 + 7 17,902 4,031 21,933 22,374 -441 ' On May 11, 1966, U. S. Government securities held in custody by the Fe.lnwi Bsserve Banks for foreign account were $7,549 million, an increase of $14 million for the "week and. a decrease of $65 mill ion from the comi-m-able date a yenr ago. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) May 11, 1966 A S S E T S Gold certificate account Redemption fund for F. R< ndtes Total gold certificate reserved Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements U. S. Government securities: Bought outrightBills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 1 / TOTAL ASSETS L I A B I L I T I E S FederarReserve^notes~ ~ Deposits: ^£.ang;e since May h, May 12, 1966 1965 11,359 1,726 1,726 13,085 13,085 (894) 233 2l4 100 H - 100 + 4 - 695 80 31 -._ 4o .,523) 6,813 102 982 >,4i7) 62,542 (894) ( 8 9 ^ ) 336,879 6,879 + + 28 20 - 243 Z ?! - 270 -1,005 +2,288 + 12 - 726 +1,646 +3,220 - 305 +2,915 +3,039 300 + 435 ± 21 -1.364 + 217 +2,8l4 • 243 9,215 12 24,965 6,574 40,766 236 41,002 4i,327 ""1^1p ±_. 1?5. - 990 + 113 + 76 + 2o8 + 2 ^l8 17,902 496 124 381 18,903 -1,420 8 - 13 - 19 -1,460 + + + + (1,523) 5^275 195 (2,^17) 6l,252 - 139 4 -1,395 + 255 - 287 +2,64l 560 551 -— Other capital accounts 179 TOTAL LIABILITIES AUD CAPITAL ACCOUNTS (2,417) 62,542 + 21 -1,364 + 21 + 27 + 125 ±2,8l4 Member bank reserves U. S. Treasurer--general account Foreign Other 2/ Total de-posits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T A L Capital paid in Surplus ACCOUNTS 528 584 4 207 155 Ratio of gold certificate reserves to F. R, note liability (computed from figures as shown on the following pages—n^t consolidated) 34.6fo .4$ " 5-7? Contingent liability on acceptances purchased l46 + 6 + 1 for foreign correspondents * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages. 1/lncludes assets denominated in foreign currencies and IMF gold deposited. 2/lncludes IMF gold depogit. MTURITY DISTRIBUTION ..OF .LOANS AND SECURITIES MAY 1 1 , 1966 (Acceptances and s e c u r i t i e s h e l d under r e p u r c h a s e agreements a r e c l a s s i f i e d a s m a t u r i n g w i t h i n 15 days i n accordance w i t h maximum m a t u r i t y of t h e a g r e e m e n t s . ) Within 15 days if; 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 Discounts and _ _: advances Acceptances 187 ~~~ ' W 46 27 65 -------- --_-- 2l4 111 U. S. Government s e c u r i t i e s Changes ^ Holdings 7,984 77984 4,l84 4,184 13,847 13,297 1,305 385 41,002 during week + 46 -187 -129 -270 H.4.1(b) STATEMENT CF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 11, 1966 Total Boston New York Philadelphia Cleveland (In Rich- Atlanta Chicago mond millions; of dollars) St. Louis Minneapolis : San Kansas Dallas • FranCity 1 Cisco A S S E T S 2,087 413 2,500 654 92 746 1,023 1,147 i47 lU2 13,085 661 99 760 1,170 89^ 233 58 15 240 31 47 12 Discounts and advances 21^ Acceptances: Bought outright 80 Held under repurchase agreements 31 U. S. Government securities: Bought outright— Bills i 9,215 12 Certificates Notes 2k,965 1 6 Bonds 2?V± 1+0,766 Total 236 Held under repurchase agreements 18 24 •7 -- 80 31 484 1 1,312 346 2,143 -- 2,304 3 6,242 1,644 10,193 236 1^002 2,l43 1*1,327 Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises , Other assets -/ TOTAL ASSETS 2,260 311 2,571 459 63 522 232 32 264 484 66 1,289 766 100 866 75 33 88 14 102 19 73 35 36 14 20 3 19 28 33 1 -- _.. -- -— -- 477 1 1,292 623 1 1,688 444 2,756 -- 488 1 1,323 348 2,160 -- 1,555 2 4,2i4 2,111 -- 755 1 2,045 538 3,339 -- 10,429 2,111 3,339 2,75.6,., 2,160 2,l6l 10,564 2,118 3,342 2,775 8,336 102 982 567 3 4o 1,438 9 386 531 3 44 564 5 68 64,959 3,6o4 15,168 3,501 5,257 11,359 1,726 1 1 34l 550 374 57 431 1,212 204 1,416 33 11 59 15 63 28 22 17 11 25 -• -- --- -- 323 # 874 230 1,427 -- 184 * 497 131 812 -- 348 942 248 1,538 -- 355 * 962 253 1,570 -- 5,836 — 6,881 1,427 812 1,538 1,570 5,836 2,188 6,914 1,434 834 1,555 1,581 5,86l 666 688 20 44 1,366 20 124 449 7 28 268 3 17 524 7 34 425 10 37 850 5 49 4,886 3,927 11,103 2,490 1,412 2,7l4 2,558 8,339 1,110 6,881 — 6 • 1/ Includes assets denominated in foreign currencies and IMF gold deposited * Less than $500,000. • * 1,319 2 3,574 94l 10 111 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 11, 1966 Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas City San Francisco (In millions; of dollars) L I A B I L I T I E S 37,773 Federal Reserve notes Deposits: 17,902 Member bank reserves 496 U. S. Treasurer--general account 124 Foreign 381 Other Total deposits 18,903 Deferred availability cash items 6,798 Other liabilities and accrued dividends 195 63,669 TOTAL LIABILITIES 2,272 8,561 2,219 3,181 3,390 2,177 6,849 1,428 713 1,431 1,202 4,35C 681 48 6 l 736 4,722 .45 1/ 32 2/312 5,111 1,110 703 23 7 843 32 6 6 887 1,077 46 8 1 1,132 414 18 3 900 29 7 2 938 2,960 85 16 54 3,115 526 531 345 ^35 230 789 29 6 2 826 521 2,827 52 18 2 2,899 1,133 612 50 4 733 471 1,374 39 11 1 1,425 393 338 67" 10 50 14,832 3; 5^1 9 3,^32 16 5,143 14 4,817 32 10 3,850 10,913 7 2,446 1,382 8 2,658 8 2,486 28*.i69 30 30 9 50 50 14 29 28 12 81 79 30 19 19 6 13 13 4 25 24 7 33 32 7 72 25 3,501 5,257 4,886 3,927 11,103 2,490 1,412 2,714 2,558 8,339 523 # 666 k CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign corre spondent s F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 560 551 179 27 27 9 146 144 46 64,959 3,604 15,168 [ 146 L_ 37 38 40,101 2,397 9,115 6,613 11 3^,678 500 1,000 1,945 41,302 2,445 8_ 7_ 13 9_ _gl._ 5_ FEDERAL RESERVE AGENT'S ACCOUNTS 2,304 3,438 7,210 3,565 2,357 1,513 600 906 425 1,100 8,200 500 5 1,900 2,950 2,693 1,975 9,200 2,405 3,550 3,599 2,400 1/ After deducting $92 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $108 million participations of other Federal Reserve Banks. 3^ 33 10 6 jj._ 7^6 " 1,513 9_ 19__ 1,294 4,649 127 225 180 735 6,300 315 6 1,310 625 1,300 1,180 4,300 7,4oo 1,631 752 1,525 1,360 5,035 * Less than $500,000.
@FedFRASER