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FEDERAL 'f^URES^*' RESERVE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks For immediate release February 27, 1969 H.4.1 The average of daily figures of total reserves of member banks declined $518 million to $27,064 million. Required reserves declined reflecting the change in member bank deposits in mid-February. Excess reserves also declined from the relatively high level of a week ago and were slightly below the average level of recent weeks. A decline of about seasonal proportion in currency in circulation and a reduction in Treasury deposits with Federal Reserve Banks provided reserves in the latest week. An increase in other F. R. accounts (net) absorbed about $200 million of reserves. Float was about unchanged on weekly average. System Open Market operations absorbed about $350 million of reserves (net), on a weekly average basis. Member bank borrowings declined $285 million from the relatively high level of a week earlier, to a level of $758 million. Borrowings exceeded excess reserves by $592 million, compared to the revised figure of $694 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 Federal Agency obligationsHeld under repurchase agreements AcceptancesBought 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 Total reserves held Required reserves Excess reserves Averages of daily figures Week ended Change from week ended Wednesday, Feb. 26, Feb. 28, Feb. 19, Feb. 26, 1969 1968 1969 1969 (In millions of dollars) + 3,400 + 97 51,947 52,124 97 16 308 8 20 + 8 52 52 3 42 6 52 51 + 758 285 + 316 499 2,631 55,722 10,367 6,813 72,902 +_ 12 1,075 623 + 4,943 __ - 1,516 4 + - 620 17 + + 3,443 + 3,331 2,531 1 55,028 10,367 6,815 72,210 49,148 763 562 129 483 - 793 50,292 22,610 4,454 27,064 26,898 166 . - 229 1 107 4 17 + 221 - 137 - 483 35 518 335 183 - + - 556 460 18 22 349 + 1,970 + 1,473 - 45 + 1,428 + 1,575 - 147 49,197 767 615 110 492 - 846 50,335 21,875 4,454 26,329 26,898 - 569 NOTE: A net of $200 million of surplu s reserves were eligible to be carried forward from the week ended February 19, into the week ending February 26. On February 26, 1969, U . S . Government securities held in custody by the Federal Reserve Banks for foreign account were $8,426 million an increase of $66 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CdtolttON OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Feb, 19, Feb. 28, Feb. 26, 1968 1969 1969 ASSETS •1,359 10,025 Gold certificate account 1/ Cash Discouhts and Advances Acceptancest 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 outight Held under repurchase agreements Total U. S, Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (1,029) 232 499 + 6 39 - 198 + 242 51 105 21 17,681 29,926 4., 3.4Q. 51,947 -- (3,016) 51..9A7. 52,497 8,557 113 2,597 74,02^ (1,029) 43,039 (1,987) + + - 305 4-2,028 79 6 220 139 359 446 752 +2,941 -1.807 +3,162 -- ^1 ^082 +3.162 +3,399 +1,195 + 1 + 494 +3L,532 156 +2,723 204 + 765 - 307 56 + 51. + 453 + 174 ± 99_ +3,449 - -- + 122 LIABILITIES 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 21,875 615 110 492 23,092 (1,987) 6,026 394 (3,016) 72,551 _ + 166 - 9 + 18 29 - 952 -_ 2_ •1,139 C A P I T A L A C C O U N T S Capital paid in 638 1 29 + Surplus 630 + 32 Other capital accounts 202 - 56 + 22 Contingent liability on acceptances purchased for foreign correspondents 100 + 2 17 * 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." 2/ Includes assets denominated in foreign currencies and IMF gold deposited. SJLjLncludes IMF gold deposit. _ MMI?^I1¥JPIS1RIBJLJTI0N OF LOANS AND SECURITIES, FEBRUBARY 26, 1969 (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 494 2,598 *343 17 16 days to 90 days + 41 8,437 5 34 91 days to 1 year -140 7,937 Over 1 year to 5 years + 33 19,008 Over 5 years to 10 years + 23 13,350 Over 10 years + 6 617 Total -380 51,947 499 51 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 26, 1969 Total Boston Phila- Clevedelphia land New York Richmond Atlanta Chicago St. MinneLouis apolis Kansas City Dallas San Francisco (In millions of dollars) A S S E T S Gold certificate account F. R. notes of other banks Other 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 1/ TOTAL ASSETS 10,025 542 1,896 546 851 1,035 1,029 232 73 12 245 23 77 6 98 28 98 19 107 29 499 39 46 12 16 60 51 --- 51 -- --- --- --- 17,681 908 4,572 897 1,351 1,273 t129,926 -- -- -- -- -- 1,537 223 2,668 7,737 1,122 13,431 1,519 220 2,636 2,288 2,155 332 313 3,971 3,741 — 306 140 509 341 1,408 65 24 35 25 16 5 21 17 46 13 148 31 76 123 25 20 30 26 26 — -- --- --- --. -_ __ __ -- --- 935 2,908 621 343 652 719 2,502 -- -- -- --. 1,050 152 1,823 581 84 1,103 4,235 1,008 1,915 1,217 177 2,113 -- 4,340 51,947 „ -- — 1,583 4,921 229 714 2,747 8,543 160 m. -. 614 7,351 -- -- -- -- -- -- -- _• -- -- •. 51,947 52,497 2,668 2,707 13,431 13,528 2,636 2 ,648 3,971 3,987 3,741 3,801 2,747 8,543 2 ,823 8,666 1 ,823 1 ,848 1,008 1,028 1.915 1,945 2 ,113 2 ,139 7.351 7,377 10,544 2,098 736 5 209 785 10 131 947 1,713 18 17 147 351 524 8 83 375 3 54 665 10 833 549 2 126 757 2,597 518 3 114 19 100 9 130 877 9 319 77,037 3 ,969 18,633 3 ,954 5,914 5,879 4 ,562 12,796 2,829 1,621 3,368 3 ,343 10,169 113 ' !_/ Includes assets denominated in foreign currencies and IMF gold deposited 491 1,960 -- H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 2 6 , Total I Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago 1969 MinneSt. Louis apolis Kansas Dallas City 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 Other liabilities and accnled dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ac<:eptances purchased for fore]Lgn correspondents 7,853 1,629 752 1,628 1,519 5,391 3,266 1 16 2 3,285 1,373 733 507 1,527 626 1,071 1,311 * 1 6 7 8 1 1,085 1,320 653 799 4 * 737 399 2 3 512 316 1,017 1 5 2 1,025 639 1,236 1 6 1 1,244 485 3,767 2 15 21 3,805 724 19 3,878 29 5,782 28 5,799 20 4,470 63 12,574 13 2,778 8 1,588 14 3,306 15 3,263 52 9,972 161 160 52 33 33 10 59 56 17 33 33 14 41 40 11 95 93 34 22 22 7 15 14 4 28 27 7 36 36 8 84 85 28 12,796 2,829 1,621 3,368 3,343 10,169 2 4 6 14 1,698 1,671 5,752 44,068 2,591 10,229 2,512 3,600 4,033 21,875 615 110 492 23,092 8,013 938 •.. 1 5 908 6 1 915 432 1,516 1 10 944 343 5,605 607 1/ 28 2/453 6,693 1,224 394 75,567 19 3,897 114 18,260 1 3131 ! 638 630 202 | 10 2,331 77,037 3,969 18,633 3.954 5,914 5.879 4,562 100 5 3/ 25 5 9 5 6 15 4_ 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 f o r F . R. n o t e s Gold c e r t i f i c a t e a c c o u n t E l i g i b l e paper U. S. G o v e r n m e n t s e c u r i t i e s Total c o l l a t e r a l 46,412 2,680 10,787 2,594 3,857 4,195 2,519 8,179 1,699 781 3,522 200 500 300 560 600 -- 1,000 180 27 45.091 2.531 2,731 10.600 11,100 2.500 2,800 3.400 3,960 3.649 4,249 2,650 2,650 7,650 8,650 1.671 1,851 785 812 48,613 JL/A After deducting $82 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $ 75 million participations of other Federal Reserve Banks. 155 1,775 1,775 1.630 1,785 Less than $500,000. 6.250 6,250
@FedFRASER