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••HS^»A: % ^^^^' FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release September 22, 1966 E.k.l The average of daily figures of total member bank reserves held during the week ended September 21 increased a net of $52^ million to $23,7^0 million. Estimated currency and coin of member banks decreased $25 million and their reserve balances at the Federal Reserve Banks increased $5^9 million- Estimated required reserves increased $^59 million; and estimated excess reserves increased $65 million to $573 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $198 million, compared with the revised net borrowed figure of $380 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $571 million in Federal Reserve float, and decreases of $228 million in currency in circulation, $213 million in Treasury deposits with Federal Reserve Banks, and $66 million in "other" F. R. accounts (net). The principal offsetting changes were decreases of $370 million in U. S. Government securities bought outright, $117 million in member bank borrowings, and $4l million in U. S. Government securities held under repurchase agreements. Total Reserve Bank credit increased $50 million. As of Wednesday, September 21, holdings of U. S. Government securities bought outright were $220 million lower than a week earlier and member bank borrowings were $66*4- million 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 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 P. 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 Change from week ended [Wednesday, Sept. 22, I Sept. 21, Sept. 21, Sept. 14, 1966 1966 1965 ! 1966 (In EQillions of clollars) +3,904 87 + 14 42,403 49 -370 - 41 + 2 771 11 2,^85 45,841 13,257 6,074 65,172 -117 + 6 +571 + 50 - 1 + 5 + 53 + 144 + 3 54 +3,923 - 601 + 604 +3,927 895 43,000 1,084 622 128 403 168 45,405 -228 + 13 -213 + 3 - 66 -496 +2,681 + 272 - 401 59 + 196 52 +2,637 209 45,848 19,767 3,973 23,740 23,167 573 +549 - 25 +524 +459 +65 +1,289 + 337 +1,626 +1,488 + 138 19,095 4,389 23,484 23,252 I 232 42,525 - 6 48 1 12 2,256 45,614 13,259 6,070 64,943 42,955 1,090 1,079 115 4oo On September 21, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,104 million, a decrease of $83 million for the week and a decrease of $5^2 million from the comparable date a year ago. H.^.l(a) CONSOLIDATED STATEMENT OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances--bought outright U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total "bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 1/ TOTAL ASSETS L I A B I L I T I E S Federal Reserve notes Deposits: Member bank r e s e r v e s U. S. T r e a s u r e r - - g e n e r a l account Foreign Other 2 / Total deposits Sept. 21, 1966 * (919) Change since Sept, 14, Sept. 22, 1966 1965 10,97^ 1,799 12,773 + 313 907 48 + + 1 6 5 8 669 220 10,586 4,366 21,013 6,438 42,403 - 42,403 J+3,358 +~ 449 220 220 - 957 + 146 - 811 + + + 190 1 12 +3,3^5 +4,366 -3,815 - 112 +3,784 +3,784 +3,797 +1,173 +1,020 + 2 26 z +4,172 (919) 37,802 • 229 +2,282 19,095 1,079 115 400 20,689 + 483 + 504 (2,083) 8,706 104 .1,142 (3,002) 66,396 Deferred a v a i l a b i l i t y cash items Other l i a b i l i t i e s and accrued d i v i d e n d s TOTAL LIABILITIES 223 (3,002) 65,164 C A P I T A L ACCOUNTS Capital paid in ~ Surplus Other c a p i t a l a c c o u n t s TOTAL LIABILITIES AND CAPITAL ACCOUNTS 566 551 115 (3,002) 66.396 (2,083) 6,450 + 756 - as 14 2 + 966 + 408 6 +1-,139 1 + 33 + 967 + 79 65 + 192 +1,173 + - 750 100 +4,105 + + + 22 27 18 •HA73 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shewn on the following pages--not consolidated) 33.0$ .1$ «• 4.5$ Contingent liability on acceptances purchased for foreign correspondents 257 18 + 116 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages, i/lncludes assets denominated in foreign currencies and IMF gold deposited. £/Includes IMF gold deposit. _MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 21, 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 during week advances Ac<septances Holdings Within 15 days 8891 9I 99 1,159 -139 1,159 5,7^2 16 days t o 90 days 16 39 5,7^2 +109 16 39 „ — 20,214 91 days t o 1 y e a r — — 20,214 my^Q — — Over 1 y e a r t o 5 y e a r s 13,699 -Over 5 y e a r s t o 10 y e a r s -1,192 Over 10 y e a r s ~r 397 Total 907 k8 42,^03 -220 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 21, 1966 H.4.l(b) Phila- Cleve- Rich- Atlanta Chicago delphia land mond (in millions of dollars) St. Louis San Francisco Total Boston New York 10,974 1,799 12,773 671 100 771 1,803 426 2,229 547 94 64l 1,003 150 1,153 1,053 l49 1,202 584 105 689 2,24l 329 2,570 494 63 557 245 33 278 534 70 604 410 61 471 1,389 219 1,608 919 313 90 15 209 35 75 10 63 43 83 19 92 27 69 49 31 33 38 7 31 15 42 19 96 4i 907 48 10 190 48 6 6 23 137 280 39 19 27 100 70 542 224 1,078 330 2,174 856 353 1,699 521 3,429 752 310 1,492 457 3,011 566 233 1,123 344 2,266 1,762 727 3,497 1,072 7,058 354 146 703 215 l,4lb 209 86 4i5 127 837 383 158 760 232 1,533 385 160 765 235 1,5^5 1,468 604 2,913 893 5,878 Minne-j Kansas Dallas apolis i City A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Acceptances—bought outright 1 U„ S. Government securities: Bought outright— 10,586 550 2,759 Bills 4,366 227 1,138 Certificates 21,013 ! 1,091 5,477 Notes 1 6,438 ! Bonds 334 1,678 42,403 Total ! 2,202 11,052 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 42,403 2,202 11,052 2,174 3A29 3,011 2,266 7,058 1,418 837 1,533 1,545 5,878 i 43,358 2,212 11,290 2,180 3,435 3,034 2,403 7,338 1,457 856 l,56o 1,645 5,948 632 2,083 10,789 3 9 104 46 449 1,142 69,398 3,769 16,304 650 3 52 3,6ll 723 5 82 5,504 836 5 5^ 5,233 840 20 54 1,758 20 l4o 346 3 21 720 8 4o 556 10 46 1,122 10 126 4,125 11,944 523 8 32 2,64i 1,549 2,978 2,789 8,951 l/ Includes assets denominated in foreign currencies and IMF gold deposited. * Less than $500,C00. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 21, 1966 Total Boston New York Phila- Cleve- RichSt. Atlanta Chicago delphia land mond Louis San Francisco (In millions of dollars) L I A B I L I T I E S 2,314 8,816 2,198 3,223 3,505 2,230 7,064 1,429 705 1,461 1,248 4,528 774 44 5 1 824 4,983 288 1/33 2/326 5,630 764 45 6 863 93 1,025 74 3,047 162 6 7 668 67 4 1 740 476 37 3 815 886 73 5 1 965 956 61 6 1 1,024 3,167 110 14 60 3,351 8,533 560 1,479 521 1,486 25 10 * 1,521 632 491 438 881 223 11 3,709 59 15,984 11 3,545 19 5,395 Federal Reserve notes .38,721 Deposits: Member bank reserves 19,095 U.S. Treasurer--general account 1,079 Foreign 115 Other 4oo Total deposits 20,689 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES Minne- Kansas apolis City Dallas 68,166 * 16 7 969 1,107 1 2 3,227 678 701 1,436 422 516 294 15 5,167 12 4,050 37 11,764 7 2,598 5 1,520 8 2,925 9 2,719 30 8,790 35 33 7 82 79 19 20 19 4 14 13 2 25 24 4 33 32 5 73 72 16 2,978 2,789 8,951 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 27 27 6 147 144 29 30 30 6 51 50 8 29 28 169,398 i 3,769 16,3C4 3,611 5,504 5,233 4,125 Contingent liability on acceptances purchased for foreign corre spondent s ! 23 13 16 ! 566 | 551 115 i ! i£_ 257._ 2/ 67 14_ 9 JL1,_9_44_ jy34i__ 37 1,549 9 6 11 _. 15 34 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 9,411 2,319 3,531 3,719 2,464 7,496 1,548 752 1,575 1,363 4,945 1,000 600 795 450 1,100 225 180 735 3,000 2,950 2,075, 6,500 315 39 .IT 310 127 8.700 500 5 2.000 _65_L l,4oo 1,230 4,600 9,700 2,505 3,600 3,745 2,525 7,600 1,664 782 1,625 1,410 5,335 1/ After deducting $ 82 million participations of other Federal Reserve Banks, 2 / Includes IMF gold deposit. 3/ After deducting $190 million participations of other Federal Reserve Banks. * Less than $500,000. .••^SSM<- H X:i^^y FEDERAL RESERVE Factors A f f e c t i n g Bank R e s e r v e s and C o n d i t i o n S t a t e m e n t of F.R. Banks For immediate release September 29, 1966 The average of daily figures of total member bank reserves held during the week ended September 28 decreased a net of $6l6 million to $23,133 million. Estimated currency and coin of member banks increased $95 million and their reserve balances at the Federal Reserve Banks decreased $711 million. Estimated required reserves decreased $ll4 million; and estimated excess reserves decreased $502 million to $82 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $568 million, compared with the revised net borrowed figure of $187 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were a decrease of $288 million in Federal Reserve float, $121 million in member bank borrowings, and $32 million in U. S. Government securities bought outright, and increases of $^10 million in Treasury deposits with Federal Reserve Banks and $50 million in "other" F. R. accounts (net). The principal offsetting change was a decrease of $196 million in currency in circulation. Total Reserve Bank credit decreased $kk2 million. As of Wednesday, September 28, holdings of U. S. Government securities bought outright were $366 million lower than a week earlier and member bank borrowings were $8^+ million 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) Averages of daily figures Week ended Change from week ended Wednesday, Sept. 29, Sept. 28, Sept. 21, Sept. 28, 1966 1966 1965 1966 (In iilllions of cLollars) 42,493 47 — 650 12 2,197 45,399 13,257 6,086 6^,742 42,804 1,092 1,032 138 401 218 45,686 Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 19,056 4,077 23,133 23,051 82 - 32 +3,419 - f 42,037 11 10 48 + 97 + 6 + 299 +3,821 - 601 + 612 +3,832 979 12 1,647 44,723 13,259 6,086 64,068 + 8 +4io + 10 - 2 + 50 +281 +2,518 + 281 + 71 - 61 + 202 4 +3,008 42,838 1,091 1,313 159 4o4 193 45,998 -711 + 95 ^16" -114 -502 + 824 + 398 +1,222 +1,497 - 275 18,070 4,495 2 -- -121 + 1 -288 ^ 2 -- + 12 -430 -196 — 22756"5 23,078 -513 On September 28, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,097 million, a decrease of $7 million for the week and a decrease of $501 million from the comparable date a year ago. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Sept. 28, 1966 A S S E T S Gold certificate account Redemption fund for P. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets l/ TOTAL ASSETS L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other 2/ Total de-posits Change since Sept. 21, Sept. 29, 1266 1965 10,968 1,824 * + 6 2£ - 970 + 17j 12,792 + 19 - 795 320 991 + + 7 84 + + 203 861 — + - 10 23 (933) 48 10,220 4,366 21,013 6.438 42,037 - 366 - 366 +2,029 +4,366 -3,815 - 112 +2,468 42,037 43,076 - ^66 282 +2,468 +3,316 -1,889 1,781) 6,817 104 1,189 2,714) 64,298 + 4j -2,098 - (933) 37,696 106 + + - 860 2 21 +2,102 18,070 1,313 159 4c4 -1,025 + 234 + 44 + 4 + + + 19,946 - 7^3 + 889 -1,280 1 -2,132 + 6l8 - 116 +3^93 ± 2it -2,098 + 22 + 27 + 23 ±1*565 Deferred availability cash items (l,78l) 5,170 Other liabilities and accrued dividends 220 TOTAL LIABILITIES (2,71*0 63,032 C A P I T A L A C C O U N T S Capital paid in 566 Surplus 551 Other capital accounts l49 TOTAL LIABILITIES A N D CAPITAL ACCOUNTS (2,71*0 64,298 273 461 36 191 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on s the following pages--not consolidated) 33.1# -1$ ~ ^-3* Contingent liability on acceptances purchased for foreign correspondents 248 9 + 9 9 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages, 1/lncludes assets denominated in foreign currencies and IMF gold deposited. ^/Includes.,IMF gold deposit. MATURITY piSTRIBUTigN_OF LOANS AND SECURITIES. SEPTEMBER 28, 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 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 •#•*• T o o o +^nv, <kmr\ nnr\ Discounts and advance 2S 975 16 ** --- 991 Aceseptances 4l 7 — — — zz 48 Holdings 1,200 5,589 19,960 13.699 1,192 321 42,037 Changes d u r i n g week + 41 -153 -254 -— zz. -366 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE B M K ON SEPTEMBER 28, 1966 H.4.l(b) Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas City San Francisco (In millions3 of dollars) A S S E T S 1,107 168 1,275 522 105 751 1,004 149 1,153 212 3^ 72 11 70 44 364 15 991 Discounts and advances Acceptances: 48 ! h& Bought outright „ -Held -under repurchase agreements -U. S. Government securities: Bought outright— 10,220 I 531 2,524 Bills 227 1 ^,366 Certificates 1,079 Notes 5,191 1 21,013 1,091 Bonds 6,^38 1,591 33^ Total 42,037 2,183 10,385 -Held \onder repurchase agreements : 11 4 --- --- 524 224 1,078 330 2,156 826 353 1,699 521 3,399 -- -- 10,968 1,82U 12,792 ; Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash 1 933 ! ; 320 657 9^ 671 2,468 43^ 2,902 97 14 570 101 1 Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 1/ TOTAL ASSETS ; 235 33 5^3 71 365 61 400 268 614 426 75 20 90 29 74 50 34 35 38 8 27 15 ^3 19 101 26 118 124 83 6 42 108 90 -- --- --- --- -" -.-- --- 546 233 1,123 344 2,246 1,754 749 3,605 1,105 7,213 363 155 746 229 1,493 201 86 829 370 158 760 232 1,520 383 164 787 24l 1,575 1,472 628 3,026 927 6,053 -- -- -- -- -- -- „ -* 726 310 1,492 457 2,985 " 127 1,179 218 1,397 4l -- 42,037 1 2,183 10,385 2,156 3,399 2,985 2,246 7,213 1,^93 829 1,520 1,575 6,053 43,076 2,198 10,797 2,167 3,^03 3,oii 2,364 7,337 1,576 835 1,562 1,683 6,143 8,598 104 1,189 555 3 48 1,493 9 456 527 3 52 618 5 86 716 5 58 732 20 57 1,385 20 150 4i7 8 35 279 3 22 582 8 42 446 10 h9 848 10 13^ 67,012 3,586 15,903 3,583 5,379 5,l6o 3,919 11,324 2,505 1,^53 2,850 2,676 8,67^ l/ Includes assets denominated in foreign currencies and IMF gold deposited. 337 63 627 1,981 327 2,308 H.4.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 28, 1966 Total Boston New York LIABILITIES Federal Reserve notes Deposits: 1 Member bank reserves U.S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES Phila- Cleve- Rich- Atlanta Chicago St. delphia land mond Louis TiF millions of dollars) Mirme - Kansas Dallas apolis City San Francisco 38,629 ! 2,314 8,808 2,192 3,214 3,513 2,218 7,040 1,422 701 1,456 564 111 8 4,929 l7247 752 95 8 1 856 1,378 107 14 l 1,500 2,744 172 22 1 2,939 1,122 432 50 4 535 920 126 9 1 1,056 556 642 46 5 1 694 457 842 117 8 5 972 591 337 486 232 812 83 7 2 904 427 11 3,516 18 5,267 16 5,092 12 37 3,842 11,138 8 2,46l 4 1,423 8 2,795 147 144 38 30 30 7 51 50 11 29 28 11 82 79 25 20 19 5 14 13 3 25 24 6 3,586 15,903 3,583 5,379 5,160 3,919 11,324 2,505 1,^53 22 13...- .15 9 ...35 FEDERAL RESERVE AGENT'S ACCOUNTS 2,446 7,479 1,539 2,314 3,516 3,718 6 11 14 33 748 1,569 1,365 4,913 127 225 180 735 655 782 1,400 1,230 4,600 1,625 i,4io 5,335 18,070 1,313 159 404 19,946 6,951 220 65,746 * 2/33U 683 517 5,555 1,156 11 55 3,525 15,57^ •* 1,244 ^,507 937 3,118 46 113 20 9 1_ §X_ 993 3,308 359 662 9 31 2,605 8,508 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents i 566 551 i 149 1 \6j_;012_ ! 248 1 27 27 7 12 1/ 65 35 33 9 13 33 32 6 73 72 21 2,850 _2,676 8,674 1 F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities ^1,515 2,470 9,438 6oc 500 815 5 8,700 2,000 3,000 2,925 Total collateral 9,700 2,505 3,600 3,740 1/ After deducting $114 million participations of other Federal Reserve Banks. 2/ includes IMF gold deposit. 3/ After deducting $183 million participations of other Federal Reserve Banks. 500 6,5^7 | 88 136,411 2,016 43,046 2,516 1,000 450 1,100 2,075 6,500 2,525 7,600 315 83 1,310 1,708 * Less than $500,000.
@FedFRASER