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Factors Affecting Bank Reserves and
Condition Statement of F.R. Bonis
E.h.i"'
For immediate release
May 18, 1967
The average of daily figures of total member bank reserves held during
the week ended May 17, I967, decreased a net of $kl million to $23,390 million.
Estimated currency and coin of member banks increased $25^ million and their
reserve balances at the Federal Reserve Banks decreased $295 million. Estimated
required reserves decreased $63 million; and estimated excess reserves increased
$22 mill ion to $38^ million. Excess reserves exceeded member bank borrowings at
the Federal Reserve Banks by $26l million, compared with the revised figure of
$299 million the week before.
The principal changes reducing average reserve balances with Federal
Reserve Banks were decreases of $226 million in U. S. Government securities bought
outright, $157 million in U. S. Government securities held under repurchase
agreements, and an increase of $121 million in currency in circulation. The
principal offsetting changes were increases of $128 million in Federal Reserve
float, $60 million in member bank borrowings, and a decrease of $98 million in
Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased
$21+1 million.
As of Wednesday, May 17, 1967, holdings of U. S. Government securities
bought outright were $88 million lower than a week earlier, U. S. Government
securities held under repurchase agreements were $195 million lower, and member
bank borrowings were $110 million higher. Outright holdings of bills decreased
million, notes increased $107 million, bonds decreased $107 million.
Average of daily figures
Member bank reserves,
Week ended Change from week ended Wednesday,
Reserve Bank credit,
May 17,
J May 10,
May 17,
May 18,
and related items
29&1.
I 1967
1966.
1967
(In millions of dollars)
Reserve Bank credit:
U. S. Government securities-226
^5,316
+*!•, ^ 3 1
Bought outright--System account
300
Held under repurchase agreements
+ 165
-157
195
Federal Agency obligations—
Held under repurchase agreements
Acceptances—
72
Bought outright
70
k-2
18
Held under repurchase agreements
52
52
Discounts and advances—
+ 60
5^0
Member bank borrowings
123
153
Other
25
3
25
Float
+128
1,512
1,60^513
^251
Total Reserve Bank credit
^7,326
+3,555
13,108
- 1
Gold stock
- k2k
13,1C9
Treasury currency outstanding
+ 12
6,579
+ ikG
6,586
-230
67,013
^37575
67,110
Currency in circulation
+121
+2,212
W-,136
M-,175
Treasury cash holdings
+ 8
1, kok
+ ^38
M-13
Treasury deposits with F. R. Banks
952
- 98
1,008
+ 36l
Foreign deposits with F. R. Banks
121
- 22
- 16
126
- 8
Other deposits with F. R. Banks
ij-55
+ 71
k39
6c6
Other F. R. accounts (net)
+ 170
+ 67
837
+3,236
it-7,673
^7,998
+~W
Member bank reserves:
+ 6kl
19,3^1
19,112
With Federal Reserve Banks
-295
+
274
k, k 09
Currency and coin (estimated)
4,0^9
+254
23,390
23,521
Total reserves held
+ 915
- hi
23,006
+ 850
Required reserves (estimated)
- 63
23,051
+ 22
384
470
+ 65
Excess reserves (estimated)
On May 17, 1967, U. S. Government securities held in custody by the
Federal Reserve Banks for foreign account were $7,996 million, a decrease of
$103 million for the week and an increase of $322 million from the comparable
date a year ago.
H. 4. 1(a)
CONSOLIDATED STATEMENT CF CONDITION CF ALL FEDERAL RESERVE BANKS
(in millions of dollars)
May 1 7 ,
1967
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
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
(528)
*)
Change s i n c e
May 1 8 ,
May' 1 0 ,
1966
JL-967
-1
10,774
1,817
12,591
+
330
178
+
+
11
5
6
0
no
576
+
89
I-587
+
-
93
7^3
70
52
34
10
19
13,247
4,352
21,475
6,242
45,316
195
45,511
45,8.11
88
-107
107
88
195
283
207
+3,997
+4,340
-3,7^5
77
+4,515
+ 195
+4,710
+3,976
+ 1, 2 0 b
-- 4l6
+ 579
+ 505
+
5
130
+3,962
n
+1,941
10
140
2
+
-
Cash items in process of collection
(2,280)
7,972
Bank premises
108
Other assets l/
531
TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS ( 2 , 8 0 8 ) 6 7 , 3 4 3
L I A B I L I T I E S
(528) 3 8 , 8 1 4
Federal Reserve notes
Deposits:
Member bank reserves
19,112
U. S. Treasurer--general account
1,008
Foreign
126
Other 2/
439
Total deposits
20,685
+
+
-
168
+ 769
+ 403
13
+
66
+1,225
Deferred availability cash items
Other liabilities and accrued dividends
TOTAL LIABILITIES
6,368
228
66,095
+ 875
4
+ "696
+ 719
+
25
+3,910
582
570
96
__
-117
(2,280)
(2,808)
C A P I T A L
A C C O U N T S
Capital paid in
Surplus
Other capital accounts
4o
+
+
22
19
11
Ratio of gold certificate reserves to F. R. note
liability (computed from figures as shown on
the following pages--not consolidated)
- 2,
32.
Contingent liability on acceptances purchased
166
_for_ fore gin correspondents
3 1 . 15.
* 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_.
M^P^^plg.^lBUTipN OF LOANS AND"SECURITIES, M Y 17, 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
150
28
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
178
Acceptances
68
54
122
U. S . Government s e c u r i t i e s and
F e d e r a l Agency o b l i g a t i o n s
Holdings
Weekly changes
1,951
11,873
17,293
13,061
898
435
45,5U
-6,200
+5,519
-2,480
+2,878
283
H. 4.1(b)
STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 17, I967
, ...
Total
^
...
L
J^
Boston
New
York
.—J
—
Philadelphia
Cleve-j
land
Rich- Atlanta Chicago
mond
St.
Louis
Minneapolis
..... -
Kansas
City Dallas
San
Francisco
(In millions5 of dollars)
A S S E T S
i
Gold certificate account
Redemption fund for F« R* notes
Total geld certificate reserves
P. R. notes of other Banks
Other cash
1
800
151
1,065
4-97
1,665
158
100
336
951
60
51
1,223
33
18
597
52
4l
2,001
164
38
533
94
627
15
7
26
1
4
2
70
52
--
--•
712
233
1,051
10,77^
1,817
637
103
3,015
12,591 '
740 '
3,449
528 j
330 :
38
10
178 !
Discounts and advances
5
1
Acceptances:
Bought outright
70
Held under repurchase agreements
52 j
Federal Agency obligations—
Held under repurchase agreements
" i
U« S# Government securities:
Bought outright—
Bills
113,247 ! 710
Certificates
^,352 j 233
Notes
21,475 =1,151
6,242 j 334
Bonds
Total
1 45,316 12,428
1
Held under repurchase agreements 1
195 L 1
434
243
31
274
8
8
387
71
458
-1
36
53
419
63
482
16
32
10
102
3
3
---
-—
-—
--
-—
—
—
—
—
948
312
767
252
2,282
345
1,154
1,703
1,538
1,244
335
495
447
362
524
172
849
247
553
182
896
260
3,594
3,245
2,625
3,700
1,075
7,807
258
85
4l9
122
884
•
-
-
357
61
1,156
1,371
17
4l8
28
18
3
5
14
^/K>
20
215
58
37
--
1
f
•
--
3,126
1,027
5,067
1,473
10,693
2,434
XQ5
--
—
--
750
—
470
155
762
222
1,609
—
1,792
--
--
1,846
606
2,992
870
1,891
6,314
Total U# S# Government securities
45,511 .2,426
10,888
2,434
3,594
3,245
2,625
7,807
1,609
884
1,792
1,891
6,314
Total loans and securities
45,811
2,433
11,036
2,435
3,598
3,247
2,635
7,909
1,612
887
1,795
1,896
6,328
i 665
108 i
3
531 I 15
1,871
598
2
17
776
5
26
817
6
19
888
20
18
1,701
10
305
19
47
483
9
10
301
3
6
651
13
13
537
9
15
964
9
40
70,151 3,904
16,873
3,701
5,»«67
5,363
4,251
11,766
2,644
M87
2,967
2,921
8,807
Cash items in process of
collection
Bank premises
Other assets l/
TOTAL ASSESTS
1/
10,252
Includes assets denominated in foreign currencies and IMF gold deposited.
H.4.1(c)
STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 17, 1967
i New
Total i Boston
{ York
Phila-J Clevedelphia
land
Richmond
1 St.
Atlanta Chicago 1
Louis
f
"^
f Kansas T
Minne-j
apolis j City jDallas
San
Francisco
1
(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 account
Foreign
Other
Total deposits
Deferred availability cash items
Other liabilities and accrued
dividends
TOTAL LIABILITIES
39,3^2
2,359
19,112
1,008
126
^39
20,685
764
56
6
9,H3
2,273
3,197
3,613
2,205
7,052
776
59
7
*
831
124
7
7
969
1,090
79
8
1
1,178
2,945
98
18
2
3,063
708
1,500
1,261
4,616
669
90
4
l
764
440
39
3
482
856
55
6
2
919
1,055
67
7
1
1,130
2,967
141
16
56
3,180
1,H5
826
5,3^8
130
1/ 33
2/368
5,879
842
1,371
70
11
1
1,^53
8,648
647
1,502
508
689
698
778
1,428
384
263
484
449
818
228
68,903
12
3,844
56
16,550
11
3,634
18
5,357
16
5,296
13
4,174
39
11,582
8
2,601
4
1,^57
9
2,912
10
2,850
32
8,646
28
152
148
23
31
30
b
52
51
7
30
30
7
36
35
b
85
83
16
20
20
3
14
14
2
26
25
4
3h
33
4
74
74
13
_M2L. 5,^67
5,363
M51
11,766 _2,_644__ 1,^87
2,967
2,921
8,807
29
16
20
4l
*
*
CAPITAL ACCOUNTS
Capital paid in
Surplus
Other capital accounts
TOTAL LIABILITIES AND
CAPITAL ACCOUNTS
Contingent liability on aceleptances purchased for fore:Lgn
_ correspondents
582 i
5701
!
1
I"
96 1
27
5
' 70,151! 3,90*1 16,873
'
317!
15
3/82
.17 .
46
11
8
14
18
FEDERAL RESERVE AGENTS' ACCOUNTS
F. R. notes outstanding
Collateral for F. R. notes:
Gold certificate account
Eligible paper
U. S. Government securities
Total collateral
41,034
2,465
9,515
2,312
3,M8
3,722
2,31^
7,290
1,51^
737
1,553
1,3^+3
6,695
450
1,000
483
600
740
450
i,Uoo
305
127
225
180
735
36,326
2,036
8,900
2,000
3,000
3,035
2,050
6,150
1,310
615
i,4oo
1,230
4,6co
^3,021
2,486
9,900
2,483
3,600
3,775
2,500
7,550
1,615
742
1,625
1,410
5,335
1/ After deducting $ 93 million participations of other Federal Reserve Banks,
2/ Includes IMF gold deposit.
3/ After deducting $235 million participations of other Federal Reserve Banks.
*
M51
Less than <V5C0,000.
@FedFRASER