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<L<i°^£^-. H.4.!-••••• FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release October 20, 1966 The average of daily figures of total member hank reserves held during the week ended October 19 decreased a net of $43 million to $23,325 million. Estimated currency and coin of member banks increased $218 million and their reserve balances at the Federal Reserve Banks decreased $26l million. Estimated required reserves decreased $102 million; and estimated excess reserves increased $59 million to $493 million. Member bank "borrowings at the Federal Reserve Banks exceeded excess reserves by $297 million compared with the revised net borrowed figure of $494 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $448 million in U. S. Government securities bought outright and $138 million in member bank borrowings, and increases of $39 million in currency in circulation, $26 million in Treasury deposits with Federal Reserve Eanks, and $21 million in Treasury cash holdings. The principal offsetting changes were increases of $275 million in Federal Reserve float and $24 million in Treasury currency outstanding, and a decrease of $148 million in "other" F. R. accounts (net). Total Reserve Bank credit decreased $359 million. As of Wednesday, October 19, holdings of U. S. Government securities bought outright were $537 million lower than a week earlier and member bank borrowings were $352 million higher. 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 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 nViftngp f r o m wp.ftk prided Wednesday, Oct. 19, Oct. 12, 1 Oct. 20, Oct. 19, 1966 1966 1966 i 1965 (in millions of dollars) 42,521 -448 +3,097 62 + 51 42,296 11 51 + 199 5 55 +3,185 - 602 + 644 +3,228 795 15 2,062 45,219 13,259 6,149 6T,"^27 +2,419 + 310 - 347 22 + 235 134 +2,462 43,237 1,133 44 790 15 2,155 45,532 13,256 6,145 64,933 -337 43,267 1,120 706 148 439 -56 45,624 + 39 + 21 + 26 19,309 4,016 23,325 22,832 493 -261 +218 - 43 -102 + 59 - 9 - 6 -148 - 77 + 765 + 286 +1,051 +1,051 138 +33 63 I 45,746 18,881 4,400 23,281 23,306 -25 On October 19, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,348 million, an increase of $6l million for the week and a decrease of $655 million from the comparable date a year ago. H.4.l(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Oct. 19, 1966 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 1/ TOTAL ASSETS L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other 2/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 10,960 1,808 12,768 (801) 308 810 Change since Oct. 12, Oct. 20, 1966 1965 — - 5 - 5 + - 957 149 808 - 2 +352 + + 182 396 51 -- — - 42 10,479 4,366 21,013 6,438 42,296 -537 — — __ -537 12 — +2,657 +4,366 -3,815 - 112 +3,096 -- -- 42,296 43,157 -227 +3,096 +3,504 (2,007) 8,033 104 1,405 (2,808)557775 +996 (801)38,038 -158 +2,053 18,881 138 433 20,320 +418 +150 + 4 -106 +466 (2,007) 5,971 219 (2,808)64,548 +558 - 35 +831 + 968 23 24 + 232 +1A53 + 677 C A P I T A L A C C O U N T S Capital paid in 566 Surplus 551 Other capital accounts 110 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,808)65,775 + 14 +776" - 55 +776 + + + 867 2 127 +17B74" - 7g +3,811 + 20 + 27 + 16 +3,874 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 32.9^ +.1$ - 4.2$ Contingent liability on acceptances purchased for foreign correspondents 225 - 9 + 7 0 * 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/Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 19> 1966 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and advance)S 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 Tio-hal Ac<^eptances 794 16 40 --__. __ --— — 810 51 11 U. S. Government securities Changes Holdings during week 1,305 +227 5,456 -671 20,247 - 93 13,699 1,192 397 42,296 __ — __. -537 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 19, 1966 H.4.1(b) j Total Boston New Philadelphia York Cleveland Richmond Atlanta Chicago St. San Louis Minneapolis 340 63 403 270 33 303 443 70 513 459 61 ydo 1,761 Kansas Dallas City Francisco (In millions of dollars) A S S E T S 944 148 1,002 2,297 536 93 629 1,092 1,166 83 13 213 32 56 11 63 42 28 810 Discounts and advances Acceptances: -Bought outright 51 "* "* Held under repurchase agreements U. S. Government securities: Bought outright— 10,479 559 Bills 4,366 233 Certificates 21,013 1,121 Notes 6,438 1 343 Bonds Total 42,296 2,256 -Held under repurchase agreements -~ 121 3 ^ 10,960 660 Gold certificate account 1,808 99 Redemption fund for F. R. notes Total gold certificate reserves ;12,768 . 759 F. R. notes of other Banks Other cash Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets l/ TOTAL ASSETS 801 ! 308 1,866 431 553 104 657 2,126 66 20 67 30 62 47 25 34 31 6 22 14 35 21 78 38 63 93 258 48 * 33 95 65 164 325 27S5T- 217 i,yy8 - - •5. 51 —- "" "" 2,662 1,109 5,338 1,636 557 232 857 357 747 311 1,117 1,719 1,498 1,173 343 526 459 359 585 244 3,538 1,084 ,235 203 84 407 125 1,547 819 1,765 735 10,745 2,249 _., _.. 3,459 ~_ 3,015 ..- 2,361 ~~ 7,122 383 160 769 -_ 4oi 167 805 247 386 161 773 237 i,374 1,620 —— 1,557 5,546 573 2,755 844 42,296 ! 2,256 10,745 2,249 3,459 3,015 2,36l 7,122 1,547 819 1,620 1,557 5,546 l 43,157 2,284 10,917 2,252 3,462 3,078 2,454 7,380 1,595 819 1,653 1,652 5,611 io,o4o 1,706 715 5 104 830 5 69 1,663 20 18? 521 8 hp 328 3 27 674 8 s? 517 10 1,007 9 521 591 3 65 829 20 • 1.405 659 3 59 TO 1 SS 68,583 3,860 15,695 3,607 5,483 5,234 4,127 11,805 2,628 1,517 2,936 2,8l4 8,877 104 ,70., 10 1/ Includes assets denominated in foreign currencies and IMF gold deposited. *Less than $500,000 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 19, 1966 H. 4 . 1 ( c ) Total Boston New York Philadelphia L I A B I L I T I E S F e d e r a l Reserve n o t e s Deposits: Member bank r e s e r v e s U. S. T r e a s u r e r - - g e n e r a l Foreign Other Total deposits 38,839 account D e f e r r e d a v a i l a b i l i t y cash i t e m s Other l i a b i l i t i e s and a c c r u e d 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 F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 2,322 8,845 2,204 Cleve- Rich- I Atlanta j Chicago St. mond land Louis (In millions of dollars) 3,230 3,537 Kansas City Dallas San Francisco 2,223 7,104 1,426 700 1,466 1,244 4,538 880 33 6 2 921 1,034 64 8 ] 1,107 3,206 79 18 3,363 486 9 385 9 788 28 18,881 868 138 ii3320,320 815 54 7 * 876 .4,613 132 f, 35 _ 5,138 ^58 761 69 8 838* 1,452 54 13 1,519* 832 129 7 8 976 1,057 78 8 1,144] 3,085 47 20 3,154p 678 88 5 * 771 7,978 219 591 12 1,337 56 489 11 607 18 64l 15 673 12 1,331 36 380 8 468 4l 3 ] 513 270 5 67,356 3,801 15,376 3,542 5,374 5,169 4,052 11,625 2,585 1,488 2,882 2,745 8,717 566 27 27 5 51 5 29 28 35 33 14 13 2 25 24 33 73 72 -15- 551 11Q_ ^8,583 1,3,860 225 147 144 _28_ 30 30 5 15;695: j.;607 11 Ab± 12 2,444 9,388 500 1,000 °a ^483 82 79 20 1 JJL .5:234.4,127 1I.8-C5 ..2.628 14 32_ FEDERAL RESERVE AGENT'S ACCOUNTS 1.517 _•£. 2.Q36 2 - .fii4 £Q_ fi.fl77 20 12 2,302 3,495 3,693 2,420 7,465 1,520 743 1,560 1,350 4,893 500 600 3.000 t515 815 2,Q45 450 -2,07,5 1,100 6. SOP 315 k8 1.310 127 225 180 735 2,016 ft, 700 500 2 2.000 655 1,400 1.230 4.600 2,516 2,502 3,600 3,760 2,525 7,600 1,673 782 1,625 1,410 5,335 9,700 1 / A f t e r d e d u c t i n g $103 m i l l i o n p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks. 2/ I n c l u d e s IMF gold d e p o s i t . 3 / A f t e r d e d u c t i n g $ l 6 6 m i l l i o n p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks. Minneapolis _8_ 10 .11 * Less t h a n $500,000. 29
@FedFRASER