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FEDERAL H .4.1 * RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release December 26, 19^68 The average of daily figures of total reserves of member $88 million to $27,142 million. Both required and excess reserves moderately. A sizable amount of surplus reserves were eligible to forward from the week ending December 18 into the latest statement banks increased increased be carried week. Increases in currency in circulation and in Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves this week. The redemption of the special certificates issued by the Treasury a week ago to meet cash needs prior to the tax date also absorbed about $300 million reserves, on weekly average. Float increased seasonally, providing about $294 million of reserves. System purchases of U. S. Government securities, both outright and through repurchase agreements, provided about $500 million of reserves, on weekly average. Member bank borrowings, which normally increase at this time of year, rose $285 million to a level of $859 million. Borrowings exceeded excess reserves by $525 million, compared with the revised figure of $242 million the week before. 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 AcceptancesBought 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. 25, Dec. 27, Dec. 18, Dec. 25, 1968 1967 1968 1968 millions of dollars) (In 52,168 60 — 4 +435 + 60 -339 +3,319 52,382 21 211 + 4 3 13 20 — -- 2 7 - 32 55 26 859 +285 + 514 331 3,644 56,798 10,367 6,812 73,977 +294 +743 + 5 +748 +1,256 +5,013 -2,067 + 29 +2,975 3,407 56,425 10,367 6,814 73,606 +187 + 5 +391 - 17 + 1 + 94 +663 +3,510 - 651 - 248 + 67 + 33 - 902 +1,809 51,023 -1,141 51,529 + 86 + 2 + 88 + 85 + 2 +1,165 + 290 +1,455 +1,563 - 108 22,077 4,692 26,769 26,808 39 56 7 50,803 754 461 217 445 -1,153 51,527 22,450 4,692 27,142 26,808 334 + -- 763 168 226 490 NOTE: A net of $162 million of surplus reserves were eligible to be carried forward from the week ended December 18, into the week ending December 25. On December 25, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,650 million, a decrease of $56 million for the week. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Dec. 25, Dec- 18, |Dec. 27, 1968 1968 1967 A S S E T S Gold certificate account 17 -1,906 10,026 H.4,l(a) Cash (669) 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 ^otal loans and securities Cash items in process of collection (2,203) Bank premises Other assets 2/ TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (2,872) 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 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (669) (2,203) 208 331 - 146 10 - 19 53 55 26 + 26 13 + 13 21 +1,382 +2,223 +1,382 + 211 +1,593 + 995 -1,530 +1,788 612 +3,399 + 23 +3,422 +3,319 +1,025 + 1 +1,047 18,201 28,706 5.475 52,382 211 52.593 53,018 9,509 2.863 75,737 1 9 - 557 44,839 + 229 +2,847 22,077 + 524 + 618 168 226 490 274 2 42 + + 290 -1,139 + 12 - 608 113 22,961 6,102 403 (2,872) 12 637 74,305 - +Q40 - 184 + 95 + 62 + 591 277 + 95 +3 ,256 - CAPITAL ACCOUNTS Capital paid in + 33 + 1 627 Surplus -+ 28 598 Other capital accounts 207 + 23 + 50 Contingent liability on acceptances purchased for foreign correspondents 112 1 - 45 * Figures in parentheses are the eliminations made in the consolidating process. JL/ Includes amount of gold certificates previously included in "Redemption fund for F. R. notes." 2/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. . MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 25, 1968 (Acceptances and securities held under repurchase agreements are classifed as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government securities and Discounts and Federal Agency obligations Acceptances advances Holdings Weekly changes Within 15 days 2,436 +1,397 326 41 16 days to 90 days 40 5 16,717 + 193 „ 91 days to 1 year -+ 16 9,019 Over 1 year to 5 years — --12,880 Over 5 years to 10 years ---• 10,943 Over 10 years ---611 Total 52,606 +1,606 331 81 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON WEDNESDAY, DECEMBER 25, 1968 Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. MinneLouis apolis Kansas Dallas City San Francisco (In millions of dollars) A S S E T S Gold certificate account 10,026 516 1,735 718 879 988 650 1,982 371 125 433 374 1,255 F. R. notes of other banks Other cash 669 208 56 11 144 20 30 5 51 25 70 13 78 27 43 27 24 24 15 4 24 17 38 12 96 23 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 331 23 28 * 9 5 40 165 6 7 11 10 27 55 26 --- 55 26 --- — -- --- --- --- --- --- --- „_ _ -. <-> — Cash items in process of collection Bank premises Other assets 1/ TOTAL ASSETS 17 . 13 13 18,201 966 4,556 931 1,407 1,345 971 2,963 643 350 701 763 -- -- -- -- -- -- -- -- -- -- -- -• 28,706 1,524 291 5,475 52,382 2,781 __ 211 52.593 2.781 53,018 2,804 7,185 l|370 1,470 280 2,218 423 1,530 292 13,111 211 13.322 13,444 2,681 4,048 2,122 405 3,872 4,672 891 8,526 1,014 193 1,850 552 105 1 ,007 -- _.. -- -- -- -- -- 2.681 2,681 4.048 4,057 3.872 3,877 2.793 2,833 8.526 8,691 1.850 1,856 ,007 1 ,014 11,712 113 2,863 633 3 129 2,493 10 904 589 2 140 838 5 233 808 10 148 936 18 161 2,104 17 390 573 8 90 392 3 61 763 19 114 650 9 143 933 9 350 78,609 4,152 18,750 4,165 6,088 5,914 4,703 13,254 2,946 1 ,614 3,399 3 ,432 10,192 Includes assets denominated in foreign currencies and IMF gold deposited. m. 2,793 T 1,106 1 ,203 211 230 2,018 ~2 ,196 -- 2,605 4,110 784 7,499 -- -- 2,018 — ,196 2,029 2 ,206 7,499 7,526 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANKS ON DECEMBER 2 5 , Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago 1968 St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dol]Lars) 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 Other liabilities and accrtled dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for forei• gn correspondent s. 45,508 2,634 10,501 2,617 3,704 4,142 2,468 8,101 1,679 764 1,671 1,566 5,661 22,077 168 226 490 22,961 8,305 777 1 10 888 1,513 1 19 1,358 * 13 2 1,373 752 3,339 1 31 2 3,373 1,501 570 1,056 1,266 784 420 5 1 576 233 3,538 2 28 19 1,533 695 1,027 1 11 4 1,043 622 776 1 7 788 639 5,969 161 1/ 70 2/390 6,590 1,187 403 77,177 21 4,082 106 18,384 20 4,091 31 5,963 28 5,835 21 4,614 63 13,038 14 2,897 9 1,582 627 598 207 31 29 10 160 154 52 32 32 10 56 54 15 33 31 15 40 38 11 93 87 36 22 20 7 78,609 4,152 18,750 4,165 6,083 5,914 4,703__ 13,254 112 6 3/ 28 6 10 6 16 11 67 966 488 7 * 9 3 ' r; offer 585 12 2 1,280 490 3,58/ 693 3,339 15 17 3,353 58 9,999 14 14 4 27 26 7 36 34 9 83 79 31 2,946 1,614 3,399 3,432 10,192 4 3 5 6 15 TTfST ~I76"93 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. n o t e s o u t s t a n d i n g C o l l a t e r a l for F. R. n o t e s : Gold c e r t i f i c a t e s account E l i g i b l e paper U. S. Government s e c u r i t i e s Total collateral 1/ 2/ 3/ 2,697 10T962~~27684 17941 47266~"T7594 280 500 300 600 665 350 2.451 2,731 10,600 11,100 2,500 2,800 3,400 4,000 3,690 4,355 2,300 2,650 After deducting $156 million participations of other Federal Reserve Banks. tnc ludes IMF gold deposit. After deducting $ 84 million participations of other Federal Reserve Banks. "87388 1,000 7,450 8,450 17740 783 180 27 1,670 1,850 775 802 579TCT 155 1,775 1,775 1,580 1,735 6,250 6,250 >'Less than $500,000.
@FedFRASER