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^°S& FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release November IT, I966 The average of daily figures of total member bank reserves held during the week ended November 16 decreased a net of $73 million to $23,304 million. Estimated currency and coin of member banks increased $200 million and their reserve balances at the Federal Reserve Banks decreased $273 million. Estimated required reserves decreased $l4l million; and estimated excess reserves increased $68 million to $484 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $227 million, compared with the revised net borrowed figure of $230 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $16 million in U. S. Government securities bought outright, $43 million in U. S. Government securities held under repurchase agreements, and an increase of $359 million in currency in circulation. The principal offsetting changes were increases of $65 million in member bank borrowings, $6l million in Federal Reserve float, and $32 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $65 million. As of Wednesday, November l6, holdings of U. S. Government securities bought outright were $kj million lower than a week earlier and member bank borrowings were $4 million lower. Holdings of certificates decreased $15 million, notes increased $265 million, and bonds decreased $250 million reflecting the exchange of $564 million k$ notes and $250 million 3-3/8$ bonds maturing November 15, for $829 million 5-5/8$ Treasury notes maturing February 15, 1968. 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 advancesMember 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) Averages; of daily figures Week ended "Change"from week ended Wednesday, | Nov. 17, Nov. 16, Nov. 16, Nov. 9, 1966 1966 1966 1 1965 (Ir1 millions of dollars) ^3,265 - 16 150 - k3 +3,217 + 150 + + + 51 23 711 15 + 65 -- 7 20 51 22 + 222 18 37 +3,560 - 600 + 672 +3,632 533 15 + + + + + 43,765 1,168 +359 + 5 - 26 - 32 + 17 + 42 +367 +2,376 43,833 1,180 + 377 821 - 331 I 50 1 139 + 221 416 - 175 251 "4"6",64o +2,419 -273 +2C0 - 73 -141 + 68 +1,213 + 214 +1,427 +1,259 + 168 714 130 452 59 19,3^7 3,957 23,304 22,820 484 61 65 1 27 93 — 1,951 46,165 13,259 6,212 65,636 46,289 Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 2 1 ^3,23^ 2,135 1 ^5,990 13,259 6,214 65,463 18,823 4,344 237167 23,028 On November 16, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,295 million, an increase of $82 million for the week and a decrease of $876 million from the comparable date a year ago. 139 H.4.l(a) CONSOLIDATED STATEMENT OF CftHTITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Nov. 16, 1966 ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Change since Nov. 17, Nov. 9, 1966 1965 10,971 1,795 12,766 Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements T J. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held -under repurchase agreements Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets l/ TOTAL ASSETS L I A B I L I T I E S Federal Reserve notes Deposits: Member "bank reserves U. S. Treasurer—general account Foreign Other 2/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (652) 297 548 - 2 4 6 - 923 + 118 - 805 • 2 + 189 + 267 4 — 51 22 11,417 4,351 21,278 6,188 43,234 3 47 15 + 265 - 250 - - -- 43,234 43,855 (2,1^6) ~m — 47 - 48 +2,386 + + 5 22 +2,747 +4,351 -3,550 - 362 +3,l86~ — +3,186 +3,480 +1,070 + 3 + 179 +4,116 (2,798) 9,195 104 1,099 67,316 (652) 38,603 ICO +2,036 18,823 821 139 416 20,199 + 588 + 30 9 - 18 + 591 + 798 - 43 + 208 + 872 7,060 245 66,107 +1,392 + 3 +2,086 +1,095 + 57 +4,060 (2,146) (2,798) — - 370 K +1 - 91 CAPITAL A C C O U N T S 1 + 21 Capital paid in 567 Surplus + 27 551 Other capital accounts - 123 91 + 8 +1,964 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,798) 67,316 +4,116 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 32.5/0 .1$ - k.l$ Contingent liability on acceptances purchased for foreign correspondents 212 6 + 6h * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages, l/lncludes assets denominated in foreign currencies and IMF gold deposited. 2/lncludes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 16, 1966 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) 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 Discounts and advances 531 IT «• -. „ -- Acceptances 37 — -— — U. S. Government securities Changes Holdings during week 1,761" + 35 - 896 4,713 27,926 +7,271 7,446 -6,253 988 - 204 — 397 TTo 00) H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 16, 1966 Total Boston New York [ 1 Philadelphia RichAtlanta Chicago mond (lrTmillions; of dollars) Cleveland St. Louis i San M i m e - Kansas _ _ _ IDallas i FranCity 1 apolis j cisco j A S S E T S 10,971 1,795 12,766 749 100 849 2,559 427 2,986 519 93 612 795 1U7 942 967 159 1,126 758 104 862 F. R. notes of other Banks Other cash 652 297 61 13 152 30 45 9 57 43 57 18 55 3^ Discounts and advances Acceptances: Bought outright Held under repurchase agreements U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total Held under repurchase agreements 548 7 48 45 21 64 _ -- Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 51 22 51 22 11,417 4,351 21,278 6,188 43,234 ..- 588 224 1,097 319 2,226 _.-. 2,775 1,058 5,172 1,504 10,509 601 229 1,119 326 2,275 935 357 1,743 507 3,542 -- -- -- 2,021 324 2,345 380 60 380 63 443 2C6 32 238 409 70 479 44o 56 44 16 32 25 7 29 14 18 65 35 173 26 32 123 2 34 1,228 216 1,444 -- 6C8 232 1,134 330 2,304 1,940 740 3,616 1,052 7,348 405 154 755 219 1,533 231 88 431 125 875 435 165 810 235 1,645 426 162 794 231 1,613 6,i45 -- -- -- -- -- -- -- -- 850 324 1,583 460 3,217 . 1,623 618 3,024 880 Total U. S. Government securities 43,234 2,228 10,509 2,275 3,542 3,217 2,304 7,348 1,533 875 1,645 1,613 6,145 Total loans and securities 43,855 2,235 10,630 2,279 3,587 3,238 2,368 7,521 1,559 878 1,677 1,736 6,147 Cash items in process of collection Bank premises Other assets l/ 11,34l 1,099 759 3 42 2,129 9 442 687 3 52 820 5 78 904 5 48 904 20 52 1,922 20 128 611 8 31 331 3 20 733 8 40 544 10 48 997 10 118 70,n4 3,962 16,378 3,687 5,532 5,396 4,295 12,O36 2,700 2,980 2,830 8,816 TOTAL ASSETS io4 1/ Includes assets denominated in foreign currencies and IMF gold deposited 1,502 H.4.l(c] STATEMENT OF OOHBITIOIS G"F EACH FEDEPAL RECEIVE MOTT Oil l^fEMREP. i C , Total Boston New York Philadelphia Federal Reserve notes 39,255 8,965 2,347 leposits: Member bank reserves 18,823 817 5,085 U.S. Treasurer--general account 821 26 53 Foreign 139 7 1/ 36 4l6 Other i 2/3^3 851 Total cL....o"itc 20,199 5,517 referred availability cash items 1,522 694 9,206 Other liabilities and accrued 12 dividends 60 245 TOTAL LIABILITIES ;b«,905 ! 3,904 16,064 CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents Richmond land Miiiue- St. A t l a n t a Chicago Louis apolis City Y^l'laa ban Francisco "(In millions of dollars) L I A B I L I T I E S Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Cleve- J</X 2,236 3,254 3,593 2,248 7,156 1,436 698 1,485 1,246 ^,591 73^ 42 8 1,360 1,066 110 8 l 1,185 2,948 128 20 2 3,C98 454 36 3 1 494 834 53 6 3 896 1,563 276 536 981 81 8 .1 1,071 434 3,028 97 18 58 3,201 775 646 78 5 1 730 484 6 10 10 34 2,927 2,761 8,657 25 24 4 2^980 33 32 4 7^ 72 13 2.830 8L8l6 12 28 784 1,418 591 732 870 72 7 5 954 768 12 3,623 21 5,^25 17 5,332 13 4,221 42 8 11,859 2,656 30 30 4 51 50 6 29 28 7 35 33 6 82 79 16 20 19 3 14 13 1 70,114 ! 3,962 16,378 . 3,687 5,532 5,396 4,295 12,036 2,700 1,TO2 19 11 13 30 i 567 I 551 91 212 27 27 4 147 l44 23 10 j / _ 5 5 _ * 12 13 •* 8_ 1,^ _5_ 9_ 831 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Crold certificate account Eligible paper U. S. Government securities Total collateral ;4l,259 2,455 9,^30 2,317 3,503 3,707 2,4o6 7,^3 1,508 735 1,558 1,356 4,841 6,392 28 36,456 500 1,000 6co 685 450 1,100 225 160 735 8,70c 3,000 3,045 2,000 6,500 300 26 1,310 127 2,016 490 2 2,000 655 1,4CC 1,230 4,60C 42,876 2,516 9,700 2,492 3,600 2,450 7,6co 1,636 782 1,625 l,4io 5,335 3,730 1/ After &e£ucting $103 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. £/ After deducting $157 million participations of other Federal Reserve Banks. * less than $500,000.
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