F E D E R A L R E S E R V E Factors Affecting Bank Reserves and Condition Statement of F.R. Banks

H.lf.l For immediate release February 9, 1967 The average of daily figures of total member bank reserves held during

the week ended February 8, decreased a net of $^ 9 million to $23,856 million. Estimated currency and coin of member banks decreased $^ 51 million and their reserve balances at the Federal Reserve Banks increased $402 million. Estimated required reserves decreased $32 million; and estimated excess reserves decreased $17 million to $308 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $^ 5 million, the week before they were $1^ -9 million less than excess reserves.

The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $230 million in U. S. Government securities bought outright, $2(A million in U. S. Government securities held under repurchase agreements, and $177 million in member bank borrowings, and a decrease of $150 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was a decrease of $250 million in Federal Reserve float. Total Reserve Bank credit increased $^1^ million.

As of Wednesday, February 8, 1967, holdings of U. S. Government securities bought outright were $298 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $551 million higher, and member bank borrowings were $76^ million higher.

Average of daily figures Member bank reserves, Reserve Bank credit, and related items

Reserve Bank credit: U. S. Government securities-Bought outright--System account Held under repurchase agreements

Federal Agency obligations-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)

On February 8, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,275 million, an increase of $70 million for the week and a decrease of $631 million from the comparable date a year a^o.

Week ended Feb. 8, 1967

(In

1+3,928 204

76 50 353 1

2,017 116,630 13,159 6,392

66,181 1+3,2+05 1,252 448 lU-5 ^82 393

46,125 20,056 3,800

23,856 23,548

308

!Change from i Feb. 1, 1 1967 millions of

+230 +204

+ 1 + 50

+177 + 1 -250 +4l4

+ l4 +1+27 + 58 + 10 -150 + 7 + 51 + 49 + 25 +14-02 -451 - 4 9 - 32 - 17

week ended Feb. 9, 1966

dollars)

+3,220 - 205

4 8

- 150 - 19 + 346 +3,205 j - 575 + 746 +3,376 +2,209 + 419 - +31

7 + 247 - 320 +2,117 +1,260 + 273 +1,533 +1,569 - 36

Wednesday, Feb. 8, 1967

^3,987 551

3

76 50 827 --

2,342 4f,836 13,159 6,39^ 67,389 1+3, 596 1,262

1+89 135 448 1+38

46,368 21,021 4,113

25,134 . 23,468 1 1,666

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Feb. 8, 1067

10,838 1.834 12,672

3^ 7 827 76 50

Change Feb 1,

1067 ,

._ -

+

+

6 6 3 764 2 50

since Feb. 9,

1Q66 - 858 + 103 - 755 + 175 + 384 + 3 lk

H. 4. 1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL 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 (915) Discounts and advances Acceptances:

Bought outright Held under repurchase agreements

Federal Agency obligations Held under repurchase agreements

U. S. Government securities: Bought outright--Bills 12,135 *" 298 +2,836 Certificates 4,351 " +^351 Notes 21,302 -3,526 Bonds 6,199 n - 351 Total bought outright 43,987 + 298 +3,310

Held under repurchase agreements 551 + 551 + 164 Total U. S. Government securities 44,538 + 849 +34?4 Total loans and securities 45 94 +1,668 +3,878

Cash items in process of collection (l,ll6) 7,151 14 + 913 Bank premises 107 -- + 5 Other assets l/ l,04l 27 + 396

TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,031) 66,812 +I,6l8 +4,6l2 L I A B I L I T I E S

Federal Reserve notes (915) 38,324 234 +1,943 Deposits:

Member bank reserves U. S. Treasurer--general account Foreign Other 2/

Total deposits 22,093 +1,952 +2,528 Deferred availability cash items (l,ll6) 4,809 - 623 + 9 Other liabilities and accrued dividends 24l + 19 5.5

TOTAL LIABILITIES (2,031) 65,467 +1,582 +4,535 C A P I T A L A C C O U N T S

Capital paid in Surplus Other capital accounts Ratio of gold certificate reserves to F. R. note

liability (computed from figures as shown on the following pagesnot consolidated)

Contingent liability on acceptances purchased for foreign correspondents

* Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit.

MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 8, 1967 (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 and

Discounts and Federal Agency obligations advances Acceptances Holdings Weekly changes

Within 15 days 823 67 5,287 +569 16 days to 90 days 4 59 5,700 + 85 91 days to 1 year ~~ 24,703 +198 Over 1 year to 5 years 7,458 Over 5 years to 10 years -- 991 Over 10 years 1IQ2

T o t a l 827 126 44,541 7852

21,021 489 135 448

+2,057 - 105 - 17 + 17

+2,757 - 436

7 + 214

573 570 202

32.3 181

36

.1* + 9

17 19

41

- 3.6$ + 43

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 8, 1967

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 Disccunts and advances Acceptances: Bought outright Held under repurchase agreements

Federal Agency obligations Held under repurchase agreements

U. S. Government securities: Bought outright--Bills Certificates Notes Bonds Total

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

Total Boston New York Phila-i delphia

Cleve-land

Rich-mond Atlanta

Chicago

j 10,838 <

j 12,672;

1 915 i

1 827^ ! 76;

I 3!

588 .301. 689

75 12

22

I 12,135 !

j 45,494,

! \ 8,267 I 107 ! 2^k.

646 231

1,132 4,351

2l,302

43,987 2,339 55lJ --.

2,361

1,978

2,4i9

217 4o

125

76 50

3,159 1,133 5,545

64o

736 62 9

6

615 220

1,079 _3lL

11,451

iiji'Og 2,228

12,256 2,231+

11

4i3 3

42

1,647 9

4.29

454 3

(In mil l ions of do l l a r s )

St. Louis

Minneapolis

Kansas City Dallas

San Francisco

895 15..4_.

1,049 122 57

932 ._15k 1,086

73 20

15

602 __1Q2. 704 86 ^3

30

2,339 3ko_ 2,679

88 50

313

342 63-

405: 26

32

45

260 __32~. 292 17

426 .32-498 20 17 33

431 i-

1,405 218.-

492 1,623 48 20

9

81 38

218

964 346

1,694 .Ji9X

2,228 3,497

896 321

l, 573 JiZL. 3,247

664 239 1,167 ..._34o.

2,410

1,860 427 667 153

3,266 750 ..__20 2lJ3. 6,743 1,546

237 85 4l5 121 858

476 486 170 175 835 854

.....243. _2lg. 1,724 1,763

JJ-21....1.24J 2^410 6^..jL^J|e__^_.85S_-Jul2k.._. i-tTil. 3,503 3,262 2,44o 7,056 1,593 863 1,757 1,772

587 5

_I0_ 656

6 672 l,378 20 19 4j 122

437 9

254 3

-.17...

534 11

438 10

1,705 611

2,992 .,... azi-.. 6,179

6,179

6,397

797 9

114

68,843! 3,595 17,017 3,543 5,393 5,156 4,012 11,392 2,531 1,455 2,871 2,819 9,059

l/ Includes assets denominated in foreign currencies and IMF gold deposited. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 8, 1967

L I A B I L I T I E S 1 Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits

Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES CAPTIAL ACCOUNTS

Capital paid in Surplus Other capital accounts

TOTAL LIABILITIES AND CAPITAL ACCOUNTS

Contingent liability on acceptances purchased for foreign correspondents

Total

39,239 21,021

489 135 448

22,u93 5,925 241

67,498

573 570 202

68,843

181

Boston

2,344

809 47

7 1

864 311 11

3,530

27 i 27

11

3,595

9

New York

9,111

6,127 , 98 1/ 28

2/364 6,617 865 74

16,667

149 148 53

17,017

3/ *7

Philadelphia

2,232

861 41 8 1

911 318 11

3,472

30 30 11

3,543

9

Cleveland

Richmond

(in millions

3,232

1,510 28 13 *

1,551 473 18

5,274

51 51 17

5,393

16

3,598

928 63 8 8

1,007 461

17 5,083

30 30 13

5,156

10

I (Atlanta Chicago

of dollars)

2,228

1,121 17 9 3

1,150 540

13 3,931

35 35 11

4,012

11

7,104

2,984 13 21 2

3,020 1,032

36 11,192

84 83 33

11,392

26

St. Louis

1,436

690 19 5 1

715 327 7

2,485

20 20 6

2,531

6

Minneapolis

691

495 12 3 1

511 217

5 1,424

14 14 3

1,455

4

Kansas City

1,476

885 34 6 3

928 4oo 9

2,813

26 25 7

2,871

8

Dallas

1,243

l,io4 37 8 1

1,150 343 9

2,745

33 33 8

2,819

11

San Francisco

4,544

3,507 80 19 63

3,669 638

3.1 8,882

74 74 29

9,059

24 FEPERAL RESERVE AGENTS' ACCOUNTS

F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral

41,371 6,750

l 36,326 43,077

2,433 500

2,016 2,516

9,590

1,000

8,900 9,900

2,305

483 1

2,000 2,484

3,508

600

3,000 3,600

3,729

74o

3,o35 3,775

2,368

450

2,050 2,500

7,469

i,4oo

6,150 7,550

1,505 310

1,310 1,620

721

127

635 762

1,539 225

l,4oo 1,625

1,336 180

1,230 l,4io

4,868

735 4,6oo 5,335

l/ After deducting ^107 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. 3/ After deducting $l^k million participations of other Federal Reserve Banks,

* Less than ^ 500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis