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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks ft.k.l For immediate release November l8, 1965 The average of daily figures of total member bank reserves held during the week ended November 17 decreased a net of $36 million to $21,869 million. Estimated currency and coin of member banks increased $2l6 million and their reserve balances at the Federal Reserve Banks decreased $252 million. Estimated required reserves increased $102 million; and estimated excess reserves decreased $138 million to $291 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $198 million; the week before revised excess reserves were $95 million more than member bank borrowings. The principal changes reducing average reserve balances with Federal Reserve Banks was a decrease of $201 million in U. S. Government securities bought outright and an increase of $277 million in currency in circulation. The principal offsetting changes were increases of $155 million in member bank borrowings and $63 million in Federal Reserve float. Total Reserve Bank credit decreased $11 million. As of Wednesday, November 17, holdings of U. S. Government securities bought outright were unchanged from a week earlier. However, the maturity distribution of these holdings changed considerably, reflecting in part the exchange of $6,359 million Treasury notes maturing November 15, 19&5, for an equal amount of the new k-l/k$ notes maturing May 15, 1967* Member bank borrowings were $97 million higher. UNIVERSITY OF OREGON MOV & * ibb5 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 advance s — 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) Averages of daily figures Week ended Change frcm week ended ' Wednesday, Nov. 18, Nov. 10, Nov. 17, Nov. 17, 1964 1965 1965 1965 (In millions of dollars) i*-o,o48 -201 -~ - 4 44 3 - 1 - 21 489 33 1.988 14.2,605 13,859 5,540 62,co4 4l,389 791 1,045 180 231 234 43,870 Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 18,134 3,735 21,869 21,578 291 +4,350 - .215 40,048 -- 3 46 19 -- +155 - 2 + 63 - 11 + 1 + 8 - 3 - 101 + 30 + 26 +4,073 -1,603 + 4^ +2,512 248 33 +277 - 1 - 18 + 1 + 16 - 27 +249 +2,4l4 + 258 + 482 + 50 + 16 - 916 +2,304 -252 +2l6 - 36 +102 -138 + 2C8 + ^46 + 554 + 854 - 300 2,160 42,535 13,859 5,54l 61,935 4i,490 798 912 182 208 320 43,910 18,025 4,051 22,076 21,782 294 Cn November 17, 1965/ U. 3. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,171 million, an increase of million for the week and a decrease of $51 million frcm the comparable date a Digitized for$15^ FRASER year ago. H«4,l(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) _ Nov* 17, 1965 A S S E T S Gold certificate account Redemption fund for P. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total U . S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS Change, .since—Nov* 1 0 , N o v * IS, 126§ 1964 11,89k 1,677 13,571 (5^8) 108 28l - 11 + 4 " 7 + 1 + 9 7 -1,756 + 153 -1>603 22 + 132 46 " + 3 - 2 3 + 8,670 - 24,828 •• .6,550.. 40,048 " 4o,o4tf - +3,260 " "" — - 281 +1,289 • 79 +2,643 18,025 912 182 208 + 261 - 278 6 Z 21 + l4o + 487 + 25 + 11 19.327 - 120 + 669 (2,0l4) 5,965 188 (2,562) 62,047 +1,546 - 125 +1,380 + 753 + 72 +4,137 546 524 8^ (2,562) 63.200 -QI +1,289 + 25 - 466 - ,, ,24 +3,672, L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U# S* Treasurer--general account Foreign Other Total deposits (548) 36,567 -f 77 - 305 +1,328. +4,283 50* +3,7(9 +3,866 + 842 l + 590 +3>672 40,375 (2,0l4) 8,125 101 920 (2,562) 63,200 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T A L A C C O U N T S Capital paid in ~ Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS ^ 49 +1,499 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 36. Qf> .1$ - 7-5$ Contingent liability on acceptances purchased for foreign correspondents l48 1 + 2 4 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on thejfollowing pages. MATURITY 'DISTRIBUTION' OF LOANS AND SECURITIES /'NOVEMBER 17, 1965 (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 Discounts and advances 244 37 Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years rs Over 5 years to 10 years sars Over 10 years Total - Acceptances 11 35 -— -- 28l~ 46 Holdings 1,093 5,569 17,466 14,066 1,449 385 40,048 Changes during week -5,839 +1,787 -1,530 +5,582 ---. -- STATEMENT OF CONDITIOR OF EACH FEDERAL RESERVE BANK ON NOVEMBER 17, I965 H.4.I(D; Total Boston New York Phila- Clevedelphia land RichSt. mond Atlanta Chicago Louis Minne- Kansas San apolis City Dallas Francisco (In millions of dollars) ASSETS 11,894 1,677 13,571 660 9^ 2,662 754 3,056 548 108 50 8 117 16 30 5 Discounts and advances 281 64 30 Acceptances: Bought outright 46 46 U. S. Government securities: Bought outright-Bills 8,670 ! 454 2,111Certificates Notes 24,828 ! 1,303 6,044 Bonds _6,5_50 i 3*A 1,52!!: Total 40,048 j-2,161 9,7^9 Held under repurchase agreements 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 3SL JtCVQk8_|_2^lQl- 3>3k9. Total loans and securities 40,375 ! 2,165 9,825 Cash items in process of collection Bank premises Other assets 10,139 101; _ -950 ' 683 3 . 44 1,924 8 246 65,762 j 3,707 15,192 TOTAL ASSETS ! 716 1,080 147__ 20. 806 1,227 1,148 138 1,286 71^ 95_ 809 2,174 310 2,484 383 63 446 178 31 209 643 64 707" 380 56 436 1,156 195 1,351 24 8 64 5^ 7 10 53 17 19 7 26 4 25 7 35 6 51 13 32 4 28 22 50 8 20 17 2 4 440 722 587 478 1,453 186 294 348 1,263 840 222 997 263 1,608 3,619 __i55 5,837 33^ 1,260 2,068 13_ 2 __5>5 2,032 3,335 1,679 _ ^3_ 2;709 4,160 1,370 362 .JaP-28. 2,210 6,711 956 J52 1. ,542" 532 140 ^858" 2^032- .3,335 2-*7Q9_ 2^m._.£ail 1*5.^2. _m 2,064 2,737 2,232 6,761 1,550 878 818 5 _47 797 20 52 1,699 21 131_ 509 7 __3i. 330 3 22 4,964 3,97^ 2,569 1,472 631 3 _51_ 3,590 3,339 736 5 £1. 5,^20 11,166 1,356 . 1*356—1,608 1,373 611 6 41. 2,770 „5-,83J 1,610 5,841 49c 11 .Ji9_ 911 9 125_ 2,637 8,301 H.4.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 17, I965 1 ' Total iBoston 1 New York Philadelphia t 37,115 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES Atlanta Chicago St. Louis Minneapolis Kansas Dallas City San Francisco (In millionsj of dol].ars) 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 Cleve- Richmond land 2,207 8,377 2,180 3,175 3,306 2,172 6,785 1,416 685 1,409 1,161 4,242 755 50 8 728 57 9 1 795 1,403 58 15 * 1,476 858 69 8 6 94l 1,023 60 10 2 1,095 2,771 59 23 4 2,857 616 93 6 1 716 425 57 4 6 492 792 72 7 3 874 963 51 10 1 1,025 2,960 103 22 58 3,143 628 1,326 390 263 430 378 736 10 31 3,905 10,999 7 2,529 5 1,445 7 2,720 7 2,571 27 8,l48 78 75 14 19 18 3 13 12 2 24 23 3 32 31 3 72 70 11 18,025 ' 912 i 182 208 : 19,327 1 8l4 4,731 183 1/60 125 5,099 7,979 620 1,369 544 650 645 10 188 64,609 3,651 46 14,891 10 3,529 16 5,317 12 4,904 143 137 21 29 29 3 49 47 7 28 26 6 3,707 15,19.2 3,590 5,420 g/39 8 8,765 2,257 3,383 3,436 2,318 7,110 1,494 720 1,467 1,268 4,510 1,000 600 853 500 1,100 225 180 735 2,950 2,620 1,850 6,100 1.3C0 1,130 4.000 8,900 2,401 3,550 3,473 2,350 7,200 295 7 1,260 1,562 127 7,900 500 1 1,900 1,525 1,310 4,735 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign c orre spondent s 546 524 83 ; 65,762 26 25 5 4,964 , 3,97^ 11,166 _2,_5_62_ 1,472 148 7. 2,335 21 7 . ._. 9... 13. 1 FEDERAL RESERVE AGENT S ACCOUNTS l/ After deducting $122 million participations of other Federal Reserve Banks. 2/ After deducting $109 million participations of other Federal Reserve Banks. 2,77Q.. .2,637... _8,J01_ i F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 33 31 5 5_ 3_ _605_ 732 2_ 9__ * Less than $500,000. 20
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