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FEDERAL *'t$lg^f*- RESERVE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks For immediate release January 25, 1968 H.4,1 The average of daily figures of total member bank reserves held during the week ended January 24, increased a net of $369 million to $25,941 million. Estimated currency and coin of member banks decreased $81 million and their reserve balances at the Federal Reserve Banks increased $450 million. Estimated required reserves increased $157 million; and estimated excess reserves increased $212 million to $366 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $133 million, the week before they were $70 million less than member bank borrowings. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $405 million in U, S. Government securities bought outright, and $49 million in acceptances held under repurchase agreements, and decreases of $376 million in currency in circulation, and $80 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $261 million in Federal Reserve floa", and an increase of $166 million in nother,: F. R. accounts (net). Total Reserve Bank credit increased $142 million. As of bought outright securities held bank borrowings bonds increased Wednesday, January 24, 1968, holdings of U. S. Government securities were $428 million higher than a week earlier, U. S. Government under repurchase agreements were $402 million lower, and member were $740 million lower. Outright holdings of bills, notes, and $351 million, $34 million, and $43 million, respectively. 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 advancesMember bank borrowings Other ^'Float Tetel 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 (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) Averages of daily figures Week ended Changs from week ended Wednesday, Jan. 24, Jan. 24, Jan. 25, Jan. 17, 1968 1967 1968 1968 (In millions of dollars) 49,105 -- +405 - 57 +5,199 34 1 68 55 - 1 + 49 233 49,045 -- — 55 68 47 + 9 305 308 1,726 51,186 11,982 6,784 69,953 -261 +142 - 2 + 3 +144 - 300 +4,605 -1,176 + 424 +3,854 1,388 50,856 11,984 6,785 69,625 46,117 1,390 -376 - 7 - 80 - 7 - 2 +166 -306 +2,550 + 156 + 240 46,005 1,397 1,008 25 + 61 - 766 +2,218 160 462 +450 - 81 +369 +157 +212 +1,637 + 315 +1,952 +2,102 - 150 939 149 471 -459 48,607 21,346 4,595 25,941 25,575 366 9 + - 451 48,581 21,044 5,038 26,082 25,523 559 On January 24, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,601 million, a decrease of $228 million for the week and an increase of $1,415 million from the comparable date a year ago. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Jan, 24, Jan. 17, Jan. 25, 1967 1968 1968 A S S E T S __ -1,296 9,527 Gold certificate account 3 + 95 1,940 Redemption fund for F. R, notes Total gold certifigjtte^ reserves 11,467 3 -1,201 + 68 + 403 11 (1,039) Cash - 104 - 740 308 Discounts and advances Acceptances: -8 68 Bought outright + 47 7 47 Held under repurchase agreements Federal Agency obligationsHeld under repurchase agreements U. S. Government securities: Bought outright-+3,865 15,963 Bills + 351 ---4,351 Certificates +5,650 34 + 26,952 Notes 69 6,130 Bonds + 43 +5,095 + 428 49,045 Total bought outright -- 240 402 Held under repurchase agreements +4,855 26 Total U. S. Government securities 49,045 +4,790 - 711 Total loans and securities 49,468 + 537 ,297 Cash items in process of collection -1 7,545 (2,099) -+ 4 Bank premises 112 + 943 Other assets 1./ 31 1,987 +5,141 -_1_,031 7_0_,982 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,138) ™ L I A B I L I T I 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 2/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (1,039) (2,099) (3,138) 40,503 373 +2,302 21,044 1,008 160 462 22,674 6,157 297 69,631 -1,098 + 128 + 16 25 - 979 - 720 5 -2,077 +1,268 + 592 + 12 + 38 +1,910 + 778 + 73 +5,063 CAPITAL ACCOUNTS + 34 C a p i t a l paid in 3 606 Surplus -+ 28 598 + 16 Other capital accounts • 43 147 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on 4.6% the following pages—not consolidated) ,27o 27.6% Contingent liability on acceptances purchased 24 for foreign correspondents 150 8 Figures in parentheses are the eliminations made in the consolidating process. y Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes JMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 24, 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 Agenc:y obligations advanceis Holding_£ Weekly changes Acceptances Within 15 days "-423 2,263 56 307 16 days to 90 days +287 1 8,007 59 91 days to 1 year -_+ 80 21,125 Over 1 year to 5 years ... «+ 52 16,237 Over 5 years to 10 years .-+ 21 853 Over 10 years + 5 560 -— Total + 22 49,045 308 115 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 24, 1968 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of 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 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 1/ 9,527 1,940 11,467 627 110 737 2,205 472 2,677 599 101 700 695 156 851 818 179 997 539 107 646 1,652 328 1,980 377 67 444 154 32 186 340 75 415 315 70 385 1,206 243 1,449 1,039 403 90 24 274 47 55 10 85 55 72 27 116 48 77 72 41 35 16 6 33 20 42 16 138 43 20 11 98 130 308 18 68 47 68 47 15,963 860 4,028 806 1,209 1,177 845 2,595 563 320 614 644 2,302 26,952 6,130 49,045 1,452 6,800 330 1,547 2,642 12,375 1,361 309 2,476 2,041 464 3,714 1,987 452 3,616 1,427 325 2,597 4,383 997 7,975 950 216 1,729 541 123 984 1,037 236 1,887 1,086 247 1,977 3,887 884 7,073 [49,045 49,468 2.642 12,375 2,649 12,508 2,476 2,480 3,714 3,719 3,616 3,623 2,597 2,598 7,975 8,105 1,729 1,735 984 985 1.887 1,907 1.977 1,988 7.073 7,171 620 2 94 718 5 153 789 7 100 899 20 106 1,502 18 261 455 9 60 298 3 38 608 17 75 560 9 93 847 c 235 9,644 112 1,987 74,120 603 3 88 1,745 10 684 4,194 17,945 3,961 5,586 Includes assets denominated in foreign currencies and IMF gold deposited. 5,615 4,433 12,015 2,779 1,532 3,075 3,093 S : 892 11.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 24, 1968 Total Boston New York Phila- Clevedelphia land Richmond St. Atlanta Chicago Louis Minneapolis 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 Other liabilities and accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for foreign correspondents 41,542 2,457 9,698 2,404 3,350 3,813 2,336 7,267 1,546 708 1,532 1,393 5,038 21,044 1,008 160 462 22,674 8,256 981 68 7 1 1,057 599 5,730 164 1/ 49 2/421 6,364 1,456 866 67 8 2 943 528 1,389 59 13 2 1,463 632 947 95 8 8 1,058 650 1,158 45 9 1 1,213 784 3,092 143 22 1 3,258 1,242 750 57 5 1 813 364 489 41 3 1 534 253 894 75 7 3 979 494 1,080 67 9 1 1,157 456 3,668 127 20 20 3,835 798 297 72,769 15 4,128 77 17,595 15 3,890 22 5,467 22 5,543 16 4,349 48 11,815 10 2,733 6 1,501 12 3,017 12 3,018 42 9,713 606 598 147 29 29 8 157 154 39 32 32 7 54 54 11 31 31 10 38 38 8 89 87 24 21 20 5 14 14 3 27 26 5 35 34 6 79 79 21 74,120 4,194 17,945 3,961 5,586 5,615 4,433 12,015 2,779 1,532 3,075 3,093 9,892 150 7 3/ 39 8 13 8 9 22 5 3 7 9 20 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 43,794 2,568 10,259 2,469 3,603 3,954 2,494 7,583 1,619 734 1,619 1,516 5,376 6,663 450 1,000 525 600 640 450 1,400 331 127 225 180 735 -- -- -- -- -- _.. «--. 3,100 3,700 3,355 3,995 2,150 2,600 6,450 7,850 1,370 1,701 -- 38,566 45,229 -. _ 2,176 2,626 -- 9,400 10,400 2,100 2,625 2/ Includes IMF gold deposit. 3/ FRASER After deducting $111 million participations of other Federal Reserve Banks, Digitized for 635 762 1,450 1,675 1,380 1,560 --. 5,000 5,735
@FedFRASER