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••iSSSfc FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release May 26, 1966 The average of daily figures of total member bank reserves held during the week ended May 25 decreased a net of $228 million to $22,235 million. Estimated currency and coin of member banks increased $100 million and their reserve balances at the Federal Reserve Banks decreased $328 million. Estimated required reserves decreased $219 million; and estimated excess reserves decreased $9 million to $302 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $351 million, compared with the revised net borrowed figure of $352 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $135 million in U. S. Government securities held under repurchase agreements, and $42 million in Federal Reserve float, and increases of $264 million in Treasury deposits with Federal Reserve Banks, $204 million in "other'1 F. R. accounts (net), and $22 million in Treasury cash holdings. The principal offsetting changes were increases of $203 million in U. S. Government securities bought outright, $4-0 million in acceptances held under repurchase agreements, and $27 million in Treasury currency outstanding, and a decrease of $65 million in currency in circulation. Total Reserve Bank credit increased $56 million. As of Wednesday, May 25, holdings of U. S. Government securities bought outright were $250 million higher than a week earlier and member bank borrowings were $523 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 Acceptances-Bought 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 P. R. accounts (net) Averages of daily figures Week ended Change from week ended Wednesday, May 25, May 26, May 18, May 25, 1966 1966 1966 1965 (In millions of dollars) in, 015 -- 81 lh 653 21 1,983 43,827 13,532 5,860 63,219 +3,227 - 192 + 1 + 40 + + 31 54 80 72 - 10 - 1 - 42 + 56 + 170 + 7 + 385 +3,681 - 803 + 463 +3,341 378 20 -- + 27 + 82 41,859 - 65 988 855 130 375 640 + 22 +264 - 7 - 9 +204 +4io 44,847 Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 18,372 3,863 22,235 21,933 302 4i,05l +203 -135 -328 +100 -228 -219 - 9 -- 1,505 43,106 13,534 5,871 62,511 +2,812 + 226 + 64 12 + 203 - 502 +2,790 44,828 + + + + 551 316 867 875 17,683 4,298 21,981 21,969 8 12 4l,925 998 742 138 393 632 On May 25, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,637 million, a decrease of $37 million for the week and a decrease of $168 million from the comparable date a year ago* H.4.1(a) CONSOLIDATED STATEMENT OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) May 25, 1966 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total U . S . Government securities Total loans and securities Cash items m process of collection BaniC premises , Other assets •=/ TOTAL ASSETS L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign . Other if Total deposits 11,347 1,727 13707S (9*3) 234 398 Change since May 26, May 18, 1966 1965 - + + 114 59 39 + + 32 48 250 9,500 12 25,220 6,319 4i,05l *a, 601 4" -1,114 +_18_0 - 934 3 - 523 80 72 4T7o5i 3 1 250 250 - 234 H +2,034 + 12 - 482 +1,352 +2,916 - 154 +2,762 +2,901 (i,738) 6,361 103 697 (2,681) 62,070 -1,106 I 36 -1,311 + 758 + 1 + 4i8 +3,258 (943) 36,826 47 +2^493 17,683 - 660 + 137 1 + 20 742 138 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 393 18,956 (1,738) 4,856 204 (2,681) 60,842 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 56l 551 116 (2,681) 62,070 + + 182 90 - 504~ - 18 + 236 + 590 - 793 + 1 -l, 343 + 505 - 292 +3,196 31 + 22 + 27 + 13 +3,258 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 34-6fo - 5*5$ Contingent liability on acceptances purchased for foreign correspondents l60 + 9 + 1 * Figures in parentheses are the eliminations made in the consolidating process; . see comparable figures on combined basis on the following pages. iAIncludes assets denominated in foreign currencies and IMF gold deposited. -/includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 25. 1966 (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 Changes Discounts and advances Acceptances Holdings during week 1,410 - 31 Within 15 days 368 89 9,816 +135 30 16 days to 90 days 63 *-* +146 91 days to 1 year. 1^,556 — --13,579 Over 1 year to 5 years — _-_ 1,305 Over 5 years to 10 years — -" 385 Over 10 years Total 398 152 41,051 +250 ** Less than $500,000. STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 25, 1966 H.4.l(t)) Total Boston New York Philadelphia Cleve- J Rich- Atlanta Chicago land 1 mond iiillions of dollars) (In 1 St. Louis Minneapolis Kansas Dallas City San Francisco A S S E T S Gold certificate account 11,347 Redemption fund for F. R. notes 1,727 , Total gold certificate reserves '13,074 [ 1,844 1,280 662 99 761 2,652 973 147 1,141 98_ 2,254 603 683 94 777 1,120 505 410 139 2,338 314 486 466 549 232 33 265 535 377 1,901 63_ 62_ 319 58_ 1,698 203 9^3 234 59 14 256 29 50 11 78 34 89 13 103 19 76 38 42 15 22 6 35 11 59 14 74 30 Discounts and advances 398 Acceptances: Bought outright 80 Held under repurchase agreements 72 U. S. Government securities: Bought outright-9,500 Bills Certificates 12 Notes 25,220 Bonds 6,319 Total 41,051 — Held under repurchase agreements 44 122 7 4 18 54 63 11 22 25 21 7 --- 80 72 --- -— -— -— — — -— -— -— -— -— 521 l 2,452 492 1 779 l 642 l 504 l 1,603 332 189 358 366 1,262 2 # * * * 2 1,305 2,066 1,705 1,336 4,257 1,067 6,929 883 222 503 126 818 952 239 971 244 3,353 1,549 1,581 5,457 -« -._ --. F. R. notes of other Banks Other cash 3 1,382 6,507 346 1,630 2,250 10,592 427 334 2,125 3,363 2,775 2,175 327 517_ -- -- -- __ -- -- — 1,437 -- — 840 Total U. S. Government securities 41,051 2,250 10,592 2,125 3,363 2,775 2,175 6,929 1,437 818 1,549 1,581 5,457 Total loans and securities 4i,6oi 2,294 10,866 2,132 3,367 2,793 2,229 6,992 1,448 84o 1,574 1,602 5,464 8,099 532 3 25 1,458 9 316 494 3 28 548 5 628 5 32 707 20 29 1,278 103 697 20 77 374 8 18 240 3 11 546 7 23 464 10 25 830 10 68 64,751 3,530 15,188 3,495 5,197 4,84o 3,868 11,133 2,454 1,387 2,731 2,551 8,377 Cash items in process of collection Bank premises . Other assets i/ TOTAL ASSETS 4j_ l/ Includes assets dencminated in foreign currencies and IMF gold deposited. * Less than $500,000- H. 4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 25, 1966 Total Boston New York Philadelphia deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign _.. ...c_^e spqndent s F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral Richmond St. Louis Minneapolis Kansas City Dallas San Francisco 37,769 2,269 8,600 2,219 3,177 3,382 2,l6l 6,850 1,422 714 1,427 1,204 4,344 17,683 742 138 393 18,956 634 49 6 1 690 4,595 110 1,327 62 11 1 1,401 769 70 6 5 850 1,021 53 2,922 70 27318 5,069 737 43 7 1 788 8 * 1,082 18 2 3,012 633 46 4 1 684 401 32 3 1 437 787 40 6 2 835 829 85 7 3 924 3,028 82 16 58 3,184 6,594 500 1,146 412 492 529 540 1,057 299 203 409 346 661 204 63,523 11 3,470 54 14,869 10 3,429 18 5,088 13 4,774 34 11 3,794 10,953 7 2,412 4 1,358 7 2,678 8 2,482 27 8,216 561 551 116 27 27 6 146 144 29 30 30 6 50 50 9 29 28 9 81 19 19 14 13 2 33 32 4 73 72 16 64.751 3,530 15.188 3,,495 2,551 8,377 160 8 3/42 9 I 5,197„ 4.840 8 34 33 7 79 20 3,868, JJ.,133 4 25 24 4 2,454 _JU3.6X_ 2,731 6 4 7 9 21 FEDERAL RESERVE AGENT'S ACCOUNTS 2,358 3,556 7,196 1,517 3,437 754 1,521 1,307 4,667 127 225 180 735 645 1,350 1,180 4,300 772 1,575 1,360 5,035 14 9_. 23 40,167 2,405 9,i4o 2,309 6,613 14 34,848 500 1,000 600 906 425 1,100 1,945 8,300 500 4 1,900 2,950 2,693 1,975 6,300 315 10 1,310 4l,475 2,445 9,300 2,4o4 3,550 3,599 2,400 7,4oo 1,635 l/ After deducting $ 92 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. 3/ After deducting $118 million participations of other Federal Reserve Banks. Atlanta Chicago (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 Cleveland * Less than $500,000.
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