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FEDERAL % *f*^ns*f H.4.1 Factors Affecting Bank Reserves and Condition Statement of F.R. Banks RESERVE For immediate release February 15, 1968 The average of daily figures of total member bank reserves held during the week ended February 14, 1968 decreased a net of $442 million to $25,511 million. Estimated currency and coin of member banks increased $51 million and their reserve balances at the Federal Reserve Banks decreased $493 million. Estimated required reserves decreased $523 million; and estimated excess reserves increased $81 million to $459 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $75 million compared with the revised figure of $137 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $198 million in Federal Reserve float, $110 million in U. S. Government securities bought outright, and $72 million in Gold Stock, and increases of $165 million in currency in circulation, and $159 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was an increase of $25 million in acceptances held under repurchase agreements, and a decrease of $54 million in ''other*' F. R. accounts (net). Total Reserve Bank credit decreased $164 million. As of bought outright securities held bank borrowings Wednesday, February 14, 1968, holdings of U. S. Government securities were $770 million lower than a week earlier, U. S. Government under repurchase agreements were $103 million lower, and member were $144 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 14, Feb. 14, Feb. 15, Feb. 7, and related items 1968 1968 1968 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securitiesBought outright—System account +4,828 48,155 -110 48,815 Held under repurchase agreements + 141 294 391 - 23 Federal Agency obligationsHeld under repurchase agreements — 4 3 1 AcceptancesBought outright 64 + 1 • 13 63 Held under repurchase agreements 25 + 25 25 27 Discounts and advancesMember bank borrowings 72 384 92 +143 Other Float 1,253 -198 - 667 1,369 Total Reserve Bank credit 50,935 -164 +4,188 50,000 Gold stock 11,882 - 72 -1,277 11,884 Treasury currency outstanding -+ 386 6,788 6,791 69,606 -234 +3,298 68,675 Currency in circulation 45,942 +165 +2,328 46,021 Treasury cash holdings 1,343 - 18 + 83 1,337 Treasury deposits with F. R. Banks 1,071 +159 + 367 1,314 Foreign deposits with F. R. Banks - 5 137 4 157 Other deposits with F. R. Banks + 26 + 12 462 471 Other F, R. accounts (net) -608 - 54 -1,031 -735 48,347 +260 +1,768 48,565 Member bank reserves: With Federal Reserve Banks 21,259 +1,530 -493 20,111 Currency and coin (estimated) 4,252 + 51 + 255 4,908 Total reserves held 25,511 -442 +1,785 25,019 Required reserves (estimated) 25,052 -523 +1,744 25,062 Excess reserves (estimated) 459 + 81 + 41 1 -43 On February 14, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,662 million, a decrease of $166 million for the week and an increase of $1,291 million from the comparable date a year ago. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Feb. 15, Feb. 14, Feb. 7, 1967 1968 1968 ASSETS -9,447 -1,396 Gold certificate account -+ 106 Redemption fund for F. R. notes 1.937 _Total gold certificate reserves -1,290 11,384 Cash 425 9 72 (899) - 272 Discounts and advances - 144 92 Acceptances: -Bought outright 15 63 Held under repurchase agreements 22 27 27 Federal Agency obligationsHeld under repurchase agreements 48 5 U. S. Government securities: Bought outrightBills 770 +2,938 15,073 --Certificates -4,351 -Notes -i-5,650 26,952 -Bonds 6.130 69_ Total bought outright +4,168 770 48,155 Held under repurchase agreements - 449 294 103 Total U. S. Government securities +3.719 48.449 873 Total loans and securities 48,631 +3,362 995 Cash items in process of collection (2,037) 7,928 - 104 744 Bank premises 112 + 5 Other assets J7 2.226 +1.438 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,936) 70.706 - 237 +3.483 H.4*l(a) 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 (899) 20,111 1,314 157 471 (2,037) 22,053 6,559 30? (2,936) 76 40,491 69,405 -1,129 295 -J9 + _ 34 - 791 J. 638 .U i - 2£L 97 +2,097 + 357 + 673 + 30 + 44 +1,104 + 139 -1 6 4 _ +3,404 £ A I 11 A L A C C O U N T S Capital paid in 608 1 + 34 Surplus 598 + 28 •f 17 Other capital accounts 95 141 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 27.55E> — - 4.8% Contingent liability on acceptances purchased . for foreign correspondents 123 8 59 * 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 14, 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 Weekly changes Holdings advances Acceptances^ Within 15 days 2,844 + 465 91 49 16 days to 90 days 7,071 -1,233 1 41 91 days to 1 year 20,884 - 110 Over 1 year to 5 years -16,237 Over 5 years to 10 years -853 Over 10 years -560 Total 90 92 48,449 878 H. 4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 14, 1968 Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. San Louis Minneapolis 232 32 264 310 75 385 318 70 388 1,146 Kansas City Dallas (In millions c»f (dollars) 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 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 Cash items in process of collection Bank premises Other assets \J TOTAL ASSETS 1/ 9,447 1,937 11,384 656 110 766 1,949 2,421 577 101 678 701 156 857 899 425 85 25 259 49 46 10 92 8 28 63 27 --- 63 27 472 1,663 1,110 534 107 641 1,991 427 67 494 78 58 61 28 102 52 57 80 31 36 9 6 31 21 37 18 103 42 4 3 3 1 28 5 2 4 1 5 --- --- --- --- — -- --- -— --- --- _. -- 2,473 503 288 604 616 2,141 -- -- — _» -- 1,102 251 3,828 ~T,969 6,840 ' 15,073 797 3,797 780 1,156 1,101 817 -- -- -- -- -- -- -- 26,952 6,130 1,426 324 6,788 1,544 12,129 1,395 317 2,066 1,969 470 447 1,462 332 ~T,492 3,692 3,517 ,611 -- -- -- • 48,155 ~2 ,547 -294 48.449 48,631 ZL.547 2 ,555 12.423 12,541 .492 ~T 2 ,496 3.692 3,695 3.517 3,520 T -.611 "T 2,612 9,965 575 3 99 1,791 10 744 641 2 107 731 5 173 768 8 115 4 ,108 17,815 3 ,980 5,597 5,610 112 2.226 73,642 328 243 1,389 -- — 294 Includes assets denominated in foreign currencies and IMF gold deposited 934 176 Francisco — 4,422 1,006 7,901 900 205 1,608 514 1,080 117 246 919 1,930 871 -- -- -- -- -- -- 7,901 7,929 1,608 1,613 919 921 1,930 1,934 ,969 ~T 1,970 6.840 6,845 941 20 121 1,675 18 298 506 8 68 323 3 591 17 86 578 9 106 845 9 266 4 ,489 12,048 2,756 1,569 3,065 3 ,106 9,499 43_ 11.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 14, 1968 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas ~S'an 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 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 correspondents 41,390 2,446 9,681 2,385 3,328 3,793 2,306 7,236 1,534 705 1,537 1,387 5,052 20,111 1,314 157 471 22,053 8,596 924 104 8 835 77 9 1 922 591 1,360 114 14 * 1,488 643 942 125 8 8 1,083 643 1,152 125 10 1 1,288 797 2,919 195 23 3 3,140 1,429 698 69 6 1,036 548 5,568 120 1/ 38 2/425 6,151 1,567 773 394 511 46 4 9 570 258 869 100 7 2 978 482 1,085 75 9 1 1,170 464 3,248 164 21 21 3,454 780 302 72,341 15 4,045 80 17,479 13 3,911 23 5,482 22 5,541 17 4,408 50 11,855 10 2,711 6 1,539 12 3,009 12 3,033 42 9,328 608 598 95 29 29 5 157 154 25 32 32 5 54 54 7 31 31 7 38 38 5 90 87 16 21 20 4 14 14 2 27 26 3 35 34 4 80 79 12 73,642 4,108 17,815 3,980 5,597 5,610 4,489 12,048 2,756 1,569 3,065 3,106 9,499 123 6 3/ 32 7 11 6 8 18 4 3 5 7 16 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 1/ 2/ 27 43,385 2,539 10,222 2,437 3,579 3,911 2,451 7,511 1,600 725 1,597 1,500 5,313 6,653 450 1,000 515 600 640 450 1,400 331 127 225 180 735 -- -- -- -- -- — -- -- -- -- 3.310 2.150 6,450 -5,000 ,_. 3,950 2,600 7,850 5,735 38.521 2.176 9.400 2.100 3.100 45,174 2,626 10,400 2,615 3,700 After deducting $119 m i l l i o n participations of other Federal Reserve Banks. Includes IMF gold depositt. After deducting $ 91 mil lion participations of other Federal Reserve Banks. 1,370 -635. . U45Q- -1.38Q 1,701 762 1,675 1,560 * Less than $500,000.
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