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FEDERAL
:XA
'0J&-''
RESERVE
Fcictors A f f e c t i n g Bonk Reserwes and
For immediate release
C o n d i t i o n S t a t e m e n t §1 I M L Banks
November 3> 19^6
The average cf daily figures of total member bank reserves held during,
the week ended November 2 increased $123 million to $23>3$7 million. Estimated
currency and coin of member banks increased $20 million and their reserve balances
at the Federal Reserve Banks increased $ln3 million. Estimated required reserves
decreased $23 million; and estimated excess reserves increased $1^-6 million to
$293 million. Member bank borrowings at the Federal Reserve Banks exceeded excess
reserves by $301 million, compared with the revised net borrowed figure of
$371 million the week before.
The principal changes supplying average reserve balances with Federal
Reserve Banks were increases of $243 million in U. S. Government securities bought
outright, and $76 million in member bank borrowings, and a decrease of $11Q million in
Treasury deposits with Federal Reserve Banks. The principal offsetting changes were
decreases of $273 million in Federa.1. Reserve float and $iB million in TJ. 3. Government securities held under repurchase agreements, and increases of $29 million in
foreign deposits with Federal Reserve Banks and $18 million in Treasury cash
holdings. Total Reserve Bank credit increased $32 million.
As of
bought outright
securities held
bank borrowings
Wednesday, November 2, holdings of U. 5. Government securities
were $63^ million higher than a week earlier, U. 3. Government
under repurchase agreements were $151 million higher, and member
were $2^8 mild ion higher.
Member bank reserves,
Reserve Bank credit,
and related items
Reserve Bank credit;
U. S. Government securities —
Bought outright—System account
Held under repurchase agreements
Acceptances —
Bought outright
Held under repurchase agreements
Discounts and advances —
Member bank borrowings
Other
Float
Total Reserve Bank credit
Gold stock
Treasury currency outstanding
Currency in circulation
Treasury cash holdings
Treasury deposits with F. R. Banks
Foreign deposits with F. R. Banks
Other deposits with F. R. Banks
Other F. R. accounts (net)
Member bank reserves:
With Federal Reserve Banks
Currency and coin (estimated)
Total reserves held
Required reserves (estimated)
Excess reserves (estimated)
Averages of daily figures
Week ended Changg_jProm week ended Wednesday,
Nov. 2,
Oct. 2571 Nov. 3> Nov. 2,
1966
1966
1966
1 1965
"(in millions of dollars)
te,958
6.1
+243
- 18
51
0 0
+
1
4
9
21
'
43,247
302
51
19
8,30
15
1,710
46,174
13,259
6,166
65,599
-1-2, do{
- 59
+ 37°
122
+
2
+ 221
- 20Q
+2,529
43,224
1.159
714
175
430
11
45,713
+10 3
+ 20
+123
- 23
+1.46
+ 913
+ 363
+1,276
+1,364
88
19,886
4,248
24,134
23,3^3
751
+ 76
+
l
-273
+ 32
+ 1
+ 1.1
WT$sk
TTh
19,290
4,097
23,3^7
23,094
293
+
1
+ 108
31
+ 135
+ 3,390
601
+ 653
+3,4~4~2
594
16
1,770
45,472
13,257
6,165
43,084
1,156
805
15b
435
-33
45,604
+3,129
+
6l
1
14.
+ 13
-I.19
+ 29
+ .3
"f"
-Lc.
^n November 2, I966, U. 3. Government securities held in custody by the
Federal Reserve Banks for foreign account were $7,25^ mid.lion, a decrease of
$2^- million for the week and a decrease of $669 million from the ooinrnrah] e date
a year ago.
H.k,1(a)
CONSOLIDATED STATEMENT OF CONDITION
OP THE TWELVE FEDERAL RESERVE BANKS
(in millions of dollars)
Nov. 2,
A S S E T S
Gold certificate account
10,973
+ 1 5
- 93 O
Redemption fund for F. R. notes
Total gold certificate reserves
1,802
12,775
3
+ 1 2
_+ 12°
- 803
301
845
5
+ 248
+ 170
+ 210
51
19
-19
8
21
11,430
4,366
21,013
4- 634
—
-
+2,531
+4,366
-3;815"
6,438
hZj^kj
" 302
43^5^9
44,464
+ S^4
+ 151
+ 785
+1,014
- 112
+2,970
+ 30:2
+3,272
+3,4^9
(1,766) 7,266
+ 538
_+ 10
^5^9
+ 653
+ 2
+ 263
Cash
Discounts and advances
Acceptances:
Bought outright
Held under repurchase agreements
U. S. Government securities:
Bought outright-Bills
Certificates
Kot
es
(8^9)
Borid
s
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
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
IQIL
1,441
(2,575) £57151
(809) 38,034
19
714
175
43O
21,205
(l,766) 5,556
260
(2, 575) ^7055
566
rji
I79
(2,575) 66,351
L
120
+M2L
+1,925
+1,120
- 126
+
34
+
2
+1,030
+I,k5h
- 231
+
T
+ 23q
+1,466
+ 352
+
33
+1,535
+ 335
-*.
+ 3it
+1,569
Kl
+XSt5
f
20
+
+
27
32
+3.75J
Ratio of gold certificate reserves to F. R. note
liability (computed from figures as shown on
the following pages—not consolidated)
32.9#
- ^°#
Contingent liability on acceptances purchased
?°? foreign correspondents
232
+ 1 0
+ 7 7
* Figures in parentheses are the eliminations made in the consolidating process;
see comparable figures on combined basis on the following pages.
1/Includes assets denominated in foreign currencies and IMF gold deposited.
iZJnglg§gs_jMF gold deposit.
MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 2, 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
Discounts
and
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
*A~-~~
advances
825
20
—
—
--
oTT^
A
I
Ac<
ceptances
32
3B
—
„
JZJZ.
Holdings
2,5l6
S,015
20,730
13,699
1,192
307
d u r i n g week.
~+78i
-4.12
+hl6
--Tr^RK
STATEMENT OF CONLITION CF EACH FEDERAL RESERVE EANK ON NOVEMBER 2, 1966
H. 4.1(b)
Total
Boston
New
York
Philadelphia
Cleve- RichAtlanta Chicago
land
mond
(In millions of dollars)
St.
Loui s
Minneapolis
Kansas
Ialias
City
San
Fran
cisco
A S S E T S
10,973
1,802
12,775
630
99
729
2,251
809
84
14
202
30
liscounts and advances
845
47
Acceptances:
51
-Bought outright
Held under repurchase agreements
19
U. S. Government securities:
Bought outright-Bills
! 11,430 594
Certificates
227
i 4,366
Notes
! 21,013 1,093
;
Bonds
6.438
335
Total
43,247 2,249
-Held under repurchase agreements
302
204
Gold certificate account
Redemption fund for F. R. notes
Total gold certificate reserves
F. R. notes of other Banks
Other cash
301
1
429
2,680
418
70
486
323
60
383
1,346
23
33
34
7
34
15
37
20
72
37
168
24
r
51
82
108
...
--
--
--
-
2,015
1,212
74
4i
57
19
65
30
70
44
48
22
83
--
--
814
311
580
222
1,942
3,571
1,095
7,350
1,050
57
11
6
51
19
162
553
211
909
347
1,015
1,672
1,497
1,067
311
512
458
327
2,090
3,440
302
--
--
--
__
2,923
1,116
5,373
1,646
11,058
207
32
239
688
104
792
908
759
148
94
853 1,056
3,080 2,196
325
2,34o
378
62
~ 4to~
1,534
231
89
425
130
875
--
--
--
--
742
4o6
155
745
228
217
i*563
1,625
245
4i8
160
768
236
1,646
1,582
6,147
435
166
8co
_..
620
2,987
915
--
Total U. S. Government securities
43,549 2,249
ll,36c
2,090
3,440
3,ceo
2,196
7,350
1,534
875
1,646
1,582
6,147
Total loans and securities
44,464 2,296
11,634
2,096
3,488
3,102
2,279
7,518
1,558
877
1,697
1,664
6,255
634
3
60
1,562
9
530
545
3
66
655
5
106
734
5
73
469
8
43
309
3
28
575
8
52
473
10
61
872
10
166
16,647
3,631
5,425
1,465
739
20
20
187
69
5,202 3,994 • 11,644
2,574
1,497
2,869
2,648
8,975
Cash items in process of
collection
Bank premises
Cther assets
TCTAL ASSETS
9,032
104
1.441
68,926 3,820
l/ Includes assets denominated in foreign currencies and IMF gold deposited.
H.k.1(c)
STATEMENT OF CONDITICN OF EACH FEDERAL RESERVE BANK ON NOVEMBER 2, 1966
Total 1 Boston
L I A B I L I T I E S
Federal Reserve notes
38,843
Teposits:
;
19,886
Member bank reserves
714
U.S. Treasurer—general account
Foreign
175
430
Other
21,205
Total deposits
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
correspondents
2,313
8,868
2,198
793
43
8
845
4l
9
#
3,757 16,310
13
3,562
147
144
46
30
30
9
3,820 16' 647
3,631
7,322
588
260
12
76
*
844
566
551
179
27
27
9
168,926
232
1
11
F. R. notes outstanding
Collateral for F. R. notes:
Gold certificate account
Eligible paper
U. S. Government securities
Total collateral
Philadelphia
Cleve- RichSt.
Atlanta Chicago
land mond
Louis
San
Franeisco
1/ 61
9,378
2,516
895
456
13
3,218 3,555 2,228
7,084
1,423
695
i,48o
1,240
4,541
843 1,004
72
99
10
9
2
5
956 1,088
6c4
588
3;o4o
83
24
2
3,149
1,178
642
73
6
l
722
375
485
20
4
846
37
8
2
3,344
90
22
57
3,513
257
893
430
921
24
10
1
956
371
717
12
17
5,311 5,132 3,916
41
9
6
10
9
34
11,452
2,529
1,457
2,813
2,576
"87 805
35
33
10
82
79
31
20
19
6
14
13
3
25
24
7
33
32
7
73
72
25
5,425 5,202 3,994
11;644
2; 5f4
1,497
2; 869
2,648
8,975
33
8
6
10
13
30
1,546
X362-
T784T
1,468
39
15
*
1,522
550
21
29
28
13
51
50
13
12
21
14
FEDERAL RESERVE AGENT'S ACCOUNTS
1,502
2,294
3,473 3,682 2,383
~7,413
*
509
"738"
127
225
180
735
6,500
294
24
1,310
655
i,4oo
1,230
4,600
7,600
1,628
782
1,625
i,4io
5,335
1,000
459
600
785
450
1,100
8,70c
4
2.000
3,000
2,945
2,000
9,700
2,463
3,600 3,730 2,450
1/ After deducting $125 million participations of other Federal Reserve Banks.
2/ Includes IMF gold deposit.
3_/ After deducting $171 million participations of other Federal Reserve Banks,
Minne- Kansas
Dallas
apolis
City
(in millions of dollars)
5,655
93
1/ 50
2/360
6.158
1,208
67,630
1
New
York
* Less than $500,000.
@FedFRASER