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FEDERAL RESERVE l e c t o r s Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release December 19, 1968 The average of daily figures of total reserves of member banks increased $581 million (net) to $27,022 million. Required reserves increased reflecting, in the main, seasonal increases in demand deposits in early December. Excess reserves rose sharply from the unusually low level reached in the previous week. In the latest week, major factors providing reserves were float, other FR accounts (net) and Treasury deposits with Federal Reserve Banks. Float remained high due to seasonal pressures and delays in check clearings at Federal Reserve Banks associated with employee illness due to the flu. Treasury deposits with Federal Reserve Banks continued to decline and in addition, the Treasury borrowed funds temporarily from the System during the week. Major factors absorbing reserves were a seasonal rise in currency in circulation and System Open Market sales of U. S. Government securities of about $700 million, on average, primarily through matched sale-purchase transactions. Member bank borrowings increased; and borrowings exceeded excess reserves by $274 million, compared with the revised figures of $411 million for the previous week. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securitiesBought outright--System account Held under repurchase agreements Special certificates Federal Agency obligationsHeld under repurchase agreements Acceptances-Jteught outright Held under repurchase agreements Discounts and advancesMember 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 Total reserves held Required reserves Excess reserves Averages of daily figures Week ended Change from week ended Wednesday, Dec. 18, Dec. 20, Dec. 11, Dec. 18, . 19.6,8 1968 1968 _12£L (In millions of dollars) 51,733 -722 +3,025 339 +326 + 58 51,000 339 13 55 574 4-139 + 389 968 3,318 56,023 10,367 6,807 73,197 +715 +457 - 2 +455 +1,163 +4,904 -2,065 + 32 +2,871 3,745 55,768 10,367 6,810 72,945 50,616 +233 - 6 -121 + 1 + 6 -287 -176 +3,523 - 695 - 774 + 78 + 10 -1,002 +1,138 +630 - 49 +581 +305 +276 +1,732 + 87 +1,819 +1,786 + 33 749 70 234 444 -1,247 50,864 22,332 4,690 27,022 26,722 300 -- | j j 50,789 752 442 228 448 -1,214 51,445 21,499 4,690 26,189 26,722 - 533 NOTE: A net of $25 million of surplus reserves were eligible to be carried forward from the week ended December 11, into the week ending December 18. 1/ Reflects $1,295 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. On December 18, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,706 million, an increase of $259 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF UbttDlTlON OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Dec. 20, Dec. 18, Dec. ll, 1967 1968 1968 A S S E T S Gold certificate account 1/ Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligationsHeld 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 3/ TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS 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 4/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES -1,880 10,026 * 38) 220 968 + 10 697 + 134 549 19 55 16,819 413 +1,084 28,706 5,475 2/ 51,000 — -- +1,788 - 612 +2,260 - 413 51,000 52,023 10,985 - 413 + 279 +1,879 114 -- (3,101) 2,872 76,240 +2,116 +2,260 +2,790 +2,043 + 4 +1,086 +3,909 (638) 44,610 + 121 +2,832 21,499 +1,009 + 384 + 16 + 22 +1,431 + 748 (2,463) 32 (1) (1) (2,462) 22,617 7,241 391 21 + 537 - 282 + 60 + 31 + 346 + 565 +_ 90 (3,101) 74,859 +2,279 +3,833 442 228 448 C A P I T A L A C C O U N T S Capital paid in 626 + 1 + 33 Surplus 598 + 28 + 15 Other capital accounts 157 164 Contingent liability on acceptances purchased for foreign correspondents 113 + 1 - 3 0 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes amount of gold certificates previously included in "Redemption fund for F. R. notes.11 |/ Reflects $1,295 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. .3/ Included assets denominated in foreign currencies and IMF gold deposited. 4/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 18, 1968 (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 Weekly changes Holdings Within 15 days 963 15 -172 1,039 16 days to 90 days 5 40 + 29 16.524 91 days to 1 year + 88 9,003 Over 1 year to 5 years -358 12,880 Over 5 years to 10 years -10,943 Over 10 years -611 _ " Total 968 55 51,000 -413 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 18, 1968 Total j Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) A S S E T S Gold certificate account 10,026 299 1,804 737 913 1,055 619 2,002 370 163 324 471 1,269 F. R. notes of other banks Other cash 638 220 54 12 150 22 28 5 39 27 66 14 58 29 37 29 25 24 15 4 24 17 35 13 107 24 Discounts 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 bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities 968 240 264 1 5 1 30 340 7 5 9 9 57 55 55 16,819 892 4,210 861 1,300 1,243 897 2,738 594 324 648 705 2,407 28,706 5,475 51,000 1 ,524 291 2 ,707 7,185 1,370 12,765 1 ,470 280 2 ,611 2,218 423 3,941 2,122 405 3,770 1 ,530 292 2 ,719 4,672 891 8,301 1 ,014 193 1 ,801 552 105 981 1,106 211 1,965 1 ,203 230 2 ,138 4,110 784 7,301 51.000 ;52,023 2.707 2 ,947 12,765 13,084 2 ,611 2 ,612 3,941 3,946 3,770 3,771 2 ,719 2 ,749 8,301 8,641 1 ,801 1 ,808 981 986 1,965 1,974 2 ,138 2 ,147 7,301 7,358 Cash Items in process of collection 113,448 Bank premises 114 Other assets 1/ 1 2,872 782 3 131 2,850 10 914 666 2 142 981 5 233 1,058 10 146 1,118 19 161 2,145 17 389 714 8 90 480 3 60 829 19 113 616 9 143 1,209 9 350 79,341 4 ,228 18,834 4 ,192 6,144 6,120 4 ,753 13,260 3 ,039 1,711 3,300 3 ,434 10,326 TOTAL ASSETS 1/ Includes assets denominated in foreign currencies and IMF gold deposited. STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 18, 1968 H.4.1(c) Total New York Boston Phila- Clevedelphia land Richmond Atlanta Chicago St. MinneLouis apolis Kansas City Dallas San Francisco (In millions of dollars) 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 Deferred availability cash items Dther liabilities and accrued dividends TOTAL LIABILITIES 45,248 2,624 10,425 2,597 3,687 4,120 2,456 8,054 1,673 759 1,669 1,557 5,627 21,499 442 228 449 22,618 9,703 797 1 10 940 1,044 1 11 6 1,062 835 1,276 1 13 1 1,291 899 799 * 31 2 3,359 1,577 7 1 807 498 555 1 5 561 352 942 1 9 2 954 604 1,267 V* 970 534 1,524 •>v 19 1 1,544 761 3,326 808 708 5,622 435 1/ 72 2/391 6,520 1,436 12 2 1,281 503 3,407 2 28 24 3,461 996 391 77,960 20 4,160 100 18,481 20 4,121 30 6,022 28 6,045 21 4,667 63 13,053 13 2,991 8 1,680 15 3,242 16 3,357 57 10,141 * -k n 19 * «.»- CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 626 598 157 30 29 9 160 154 39 32 32 7 56 54 12 33 31 11 40 38 8 93 87 27 22 20 6 14 14 3 27 26 5 36 34 7 83 79 23 79,341 4,228 18,834 4,192 6,144 6,120 4,753 13,260 3,039 1,711 3,300 3,434 10,326 Contingent liability on act:eptances purchased for foreign correspondent s ! 6 3/ 29 6 10 6 7 16 4 3 5 6 15 1,751 1,683 5,982 113 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 47,229 2,704 10,847 2,692 3,911 4,263 2,577 8,291 1,742 786 3,997 280 500 300 600 605 350 1,000 180 27 44,341 2,451 10,500 2,500 3,400 3,690 2,300 7,450 1,670 775 1,775 1.580 6.250 2,731 11,000 2,800 4,000 4,295 2,650 8,450 1,850 802 1,775 1,735 6,250 1 1/ After deducting $156 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. Digitized for M.FRASER After deducting $ 84 million participations of other Federal Reserve Banks. k * t * # « • i * *• I % • * 4 * — 155 Less than $500,000, —
@FedFRASER