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FEDERAL RESERV factors Affecting Bank Reserves and Condition Statement of F.R. Banks For Immediate release February 8, 1968 The average of daily figures of total member bank reserves held during the veek ended February 7, 1968 increased a net of $242 million to $25,934 million. Estimated currency and coin of member banks decreased $425 million and their reserve balances at the Federal Reser,ve Banks increased $667 million. Estimated required reserves increased $238 million; and estimated excess reserves increased $4 million to $326 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $85 million, compared with the revised figure of $81 million the week before. The principal change supplying' average reserve balances with Federal Reserve Banks was an increase of $380 million in U. S. Government securities held under repurchase agreements, and decrease's of $184 million in Treasury deposits with Federal Reserve Banks, and $128 million in "other" F. R. accounts (net). The principal offsetting change was a decrease of $25 million in acceptances held under repurchase agreements, and an increase of $19 million in currency in circulation. Total Reserve Bank credit, increased $332 million. As of bought outright securities held bank borrowings Wednesday; February 7, 1968, holdings of U. S. Government securities were $70 million higher than a week earlier, U. S. Government under repurchase agreements were $160 milliorj<; higher, and member were $607 million lower. Member bank reserves, Reserve Bank credit, and related items Averages of d a i l y f i g u r e s Week ended Change from week ended Wednesday, Feb. 7, Jan. 3 1 , Feb. 7, Feb. 8, 1968 1968 1967 1968 (In millions of dollars) 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-Metnber bank borrowings Other Float 48,925 414 - 11 +380 +4,997 + 210 5 + 5 + 4 5 63 - 3 - 25 - 13 50 63 j 48,925 397 241 236 - 112 1 - 14 1,435* - 582 x, ,240 Total Reserve Bank c r e d i t +332 51,083 50, ,866 +4,453 Cold stock 11,954 - 29 11 ,884 -1,205 Treasury currency outstanding 6,788 6 ,787 + 2 + 396 69,824 +304 69,537 +3,643 Currency i n c i r c u l a t i o n + 19 45,777 45.933 +2,372 Treasury cash h o l d i n g s 1,361 - 35 1,352 + 109 Treasury d e p o s i t s w i t h F. R.' Banks 912 -184 1,019 + 464 foreign d e p o s i t s with F. R. Banks 142 - 19 148 3 «hcr deposits with F. R. Banks 450 - 17 437 - 32 0th *r F. R. accounts ( n e t ) -128 -554 -570 - 947 K +1 .962 -365 48,319 48,087 «nber bank r e s e r v e s : With Federal Reserve Banks 21,736 +667 +1 ,680 21,217 ' Currency and coin (estimated) 4.198 -425 + 405 Total r e s e r v e s h e l d 25,934 +242 +2,085 | 25,631 ^quired r e s e r v e s ( e s t i m a t e d ) , +238 25,608 +2,048 i 25.470 -xcess r e s e r v e s ( e s t i m a t e d ) + 4 326 + 37 I 211 On February„ 7, 1968, U. -, , -. -> Government securities held in custc cy b " ::he ral Res erve Banks for foreign account were $8,828 million, a cccreas e ' o f $33 n,' c -ion for the week and an increase of $1,553 million from the cornparab l e i t e a I t P t" I lU.Ka) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change s i n c e Feb. 7, Jan. 3 1 , Feb. 8, 1968 1968 1967 ASSETS Sold c e r t i f i c a t e account 9,447 100 -1,391 ademption fund for F. R, notes 1,937 !- 103 Total gold c e r t i f i c a t e r e s e r v e s * 11,384 100 •1,288 Cash (988) 416 7 ^ 69 recounts and advances 236 607 • 591 ucsotances: :;;:ht outright '•i'.i u=dar repurchase agreements .;zi. Agency o b l i g a t i o n s - •&\i under repurchase agreements ... S. Government s e c u r i t i e s : Sought outright-Bills Certificates 63 15,843 26,952 6,130 48,925 T:cal bought outright . -^cir repurchase agreements ... •?- r-cvemaent s e c u r i t i e s . -..•••*•? s.nd s e c u r i t i e s . r* m process of c o l l e c t i o n 397 (1,832) 49 ,322 49 ,626. 7.,16-1^ 112 2- — *.. - \/'<. & HmXL 13 50 20 J&2XSZS C^L^i^cy 70 + 70 + 160 •J- 230 - 392 J 56 r -•JL "•»* * «**»»-• 5£t *t +3,708 -4,351 +5,650 69 +4 ,938 - 154 784 ti-> +4, 13? JL 10 <; + *i~ * "c * < • •* \i W *£J& 1 I 1 £S '•'i'-fnl %*?,ftv& n o t e s (988) 40,415 Kmb&r bank reserves 0. S. Treasurer—general account Foreign Other II Total deposits deferred a v a i l a b i l i t y cash items Other l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES 21,21-7 ^ 1,019 148 437 (1,832) 22,821"/ 5,921 322 (2,820) 69,479 4- 138 -f2t091 - 621 - 134 12 - _26_ - 793 + 196 + 530 + 13 + 232 4 + — 419 11 + 728 +1 ,U2 + 81 +4 ,012 C ^ l l l t h A C C O U H S ^apital paid In"" ~ ~ ~ + 34 + 1 607 _. Surplus + 28 598 Other capital accounts •*• 34 236 + 45 **Uo of gold certificate reserves to F. R, note liability (computed from figures as shown on - 4.8% the following pages—not consolidated) .3% 27.5% ^-ntingent liability on acceptances purchased 50 ~l2L_ft>reign correspondents 131 10 * figures in parentheses are the eliminations made in the consolidating process, L' Includes assets denominated in foreign currencies and IMF gold deposited. -IJBSludgs IMF gold deposit, MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 7, 1968 (Acceptances and securities held under repurchase agreements are classified as maturing with 15 days in accordance with maximum maturity of the agreements•) U. S. Government securities and Federal Aj Discounts and Holdings Acceptances 2S advanc< v I thin 15 days -339 2,379 15 235 5 & days to 90 days +642 8,304 1 48 *l days to 1 year „ - 68 20,994 ^.'er 1 y e a r to 5 years -«. •• 16,237 <•'/« 5 years to 10 years -•853 ^ « 10 years 560 -.*"". Total +235 236 49,327 63 • - - H. •», ;:Aifw.vr t-r ccj.'i-STSCS or E A C K F E : E.-.-M. Rii».s.v£ &*KX O;J f£»KuwR.Y 7, 19&8 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis San Kansas j Dallas J FranCity cisco (In millions of dollars) A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 9,447 1,937 11,384 585 110 695 2,010 472 2,482 526 101 627 758 156 914 819 176 995 554 107 661 1,651 328 1,979 383 67 450 181 32 213 398 75 473 298 70 368 1,284 243 1,527 F. R. notes of other banks Other cash 988 416 92 25 276 51 55 11 83 57 62 28 131 50 66 78 34 36 13 5 32 21 33 17 111 ' 37 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 236 63 63 63 Cash items in process of collection Bank premises Other assets JL/ TOTAL ASSETS 1/ 100 30 839 3,920 820 1,215 1,193 867 2,611 563 317 617 665 2,216 1,426 26,952 324 6,130 48,925 j 2,589 397 I 49.322 j 2,589 2,598 6,669 1,517 12,106 397 12,503 12,634 1,395 317 2,532 2,066 470 3,751 2,030 462 3,685 1,476 336 2,679 958 218 1,739 539 123 979 1,049 238 1,904 1,132 257 2,054 3,769 857 6,842 2,532 2,533 3.751 3,758 3,685 3,689 2,679 2,680 4,443 1,011 8,065 8,065 8,165 1.739 1,748 979 980 1.904 1,914 2.054 2,055 6.842 6,872 587 3 99 1,578 10 740 540 2 IPS 626 5 173 726 8 114 ^820 20 120 1,390 18 298 453 8 68 290 3 44 562 17 86 488 9 106 933 9 265 73,740 I 4,099 17,771 3,876 5,616 5,622 4,482 11,994 2,797 1,548 3,105 3,076 9,754 15,843 Includes assets denominated in foreign currencies and IMF gold deposited. 10 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis 1,538 704 1,536 769 60 5 1 835 364 506 44 3 6 559 245 Cliy nallas 1 San IFrancisco (In millions of dollars) l i l A B i L j C T ^ E S , F e d e r a l Reserve n o t e s Deposits: Member bank reserves U. S Treasurer—general account Foreign Other Totaldeposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents 41,403 2,443 9,666 2,383 21,217 1,019 148 437 22,821 7,753 922 65 7 1 995 575 5,739 193 1/ 37 2/394 6,363 1,278 890 41 8 1 940 462 322 16 92 15 24 23 16 51 11 72,299 4,029 17,399 3,800 5,490 5,543 4,394 11,779 2,748 607 598 236 29 29 12 157 154 61 32 32 12 54 54 18 31 31 17 38 38 12 90 87 38 73,740 4,099 17,771 3,876 5,616 5,622 4,482 11,994 131 3,327 3,804 2,320 7,234 1,498 997 55 92 13 8 * 9 1,566 1,106 573 610 1,242 68 9 3,161 138 22 1 2 3,323 1,171 1,320 738 12 3/ 34 21 20 8_ 2,797 1 .389 5,059 9 33 86 / 1 1,03; 464 1,144 32 9 3 1,188 407 3,411 145 20 18 11 13 43 1,515 3,043 2,997 9,562 14 14 5 27 26 9 35 34 10 79 79 34 1,548 3,10? 3,076 9,754 7 17 19 3,594 866 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes Gold certificate accounts Eligible paper U. S. Government securities Total collated! 2,541 10,236 2,444 3,585 3,919 -2,460 7,519 1,608 727 450 1,000 525 600 640 450 1,400 331 127 1,59/ 223 ~ , m <• 2,176 2,626 9,400 10,400 2,100 2,625 3,100 3,700 3.355 3,995 2.150 2,600 6,450 7,850 1.370 1,701 762 * 5,334 180 735 - «. •»~ 1 J,380_ 1,560 — 2/ After deducting $111 raillion participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit, 3/ After deducting $ 97 million participations of other Federal Reserve Banks. 1,498- 5,000 5,73 5 ~~——-————-— - Less H- -ij $500, 000.
@FedFRASER