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FEDERAL : ?<sfs^- RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release July 5, 1968 The average of daily figures of total member bank reserves held during the week ended July 3, decreased $440 million to $25,762 million. Estimated currency and coin of member banks decreased $108 million and their reserve balances at the Federal Reserve Banks decreased $332 million. Estimated required reserves increased $39 million; and estimated excess reserves decreased $479 million to $87 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $406 million, compared with the revised figure of $241 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $314 million in member bank borrowings, $146 million in U. S. Government securities held under repurchase agreements, and $66 million in Federal agency obligations held under repurchase agreements, and an increase of $204 million in currency in circulation. The principal offsetting changes were an increase of $420 million in U. S. Government securities bought outright, and a decrease of $149 million in "Other" Federal Reserve accounts (net). Total Reserve Bank credit decreased $72 million. As of Wednesday, July 3, 1968, holdings of U. S. Government securities bought outright were $351 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $97 million lower, and member bank borrowings were $93 million higher. Outright holdings of bills, notes, and bonds increased $257 million, $45 million, and $49 million, respectively. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities — Bought 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 Averages of daily figures Week ended Change from week ended Wednesday, July 3, July 3, June 26, July 5, 1968 1968 1968 1967 (In millions of dollars) 52,217 +420 -146 +5,462 51 52,230 33 2 58 + 140 + 557 - 66 1 a. 59 43 + 6 - 22 493 13 -314 ,788 + 51 - 72 54,613 10,367 6,567 71,546 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) 47,644 880 1,115 185 522 Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 50 ,209 -136 21 337 4 ,425 25,762 25,675 -155 -228 +3 ,279 492 13 1,677 54,470 10,367 6,569 71,406 +204 - 67 + 52 + 24 + 41 -149 +104 +2 ,788 584 + 27 + 37 + 14 496 +1,785 48,052 849 1,148 261 525 -393 50,442 -332 -108 -440 + 39 -479 +6 ,070 -2 ,743 47 +1,496 20,964 + 382 4,550 +1,878 25,514 +2,253 25,641 - 375 -127 On July 3, 1968, U . S . Government securities held in custody by the Federal Reserve Banks for foreign account were $7,430 million, a decrease of $683 million for the week and a decrease of $289 million from the comparable date a year ago. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Chan I since Wednesday June 26,»] July 5, July 3, 1967 1968 1968 ASSETS -2,583 10,025 Gold certificate account JL/ 11.4.1(a) Cash Discounts and advances AcceptancesBought outright Held under repurchase agreements Federal Agency obligations-Held under repurchase agreements J. 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 2/ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS 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 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (531) 10 93 419 505 71 56 17 + 254 + 220 + 531 + 1 + 447 +1 .189 +4,033 -4,353 +6,009 - 434 +5,255 - 102 +5.153 +5,472 +1,642 + 5 +1,029 +5,676 + 506 +2,549 85 + 131 + 63 + 29 + 138 + 495 + 1 +1,140 + 479 + 859 + 87 + 6 +1,431 +1,454 + 129 +5,563 18,380 + 257 27,746 6,104 52,230 + + 45 49 351 97 114 (2,916) 2,118 74.011 (531) 42,409 20,964 1,148 261 525 22,898 6,865 (2,385) 381 (2,916) 72,553 111 416 38 42 58 3.2^230 52,793 8,542 (2,385) + + A C C O U N T S C A P I T A L -+ 32 617 Capital paid in -+ 28 598 Surplus + 49 + 53 243 Other capital accounts Contingent liability on acceptances purchased - 263 «» 5 109 for foreign correspondents * 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. 1/ includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 3, 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 Acceptances advances -496 2,252 476 7 Within 15 days +435 13,441 16 days to 90 days 29 51 --+197 22,742 91 days to 1 year --+ 39 7,737 Over 1 year to 5 years --+ 17 5,470 Over 5 years to 10 years + 6 Over 10 years ^ 588 Total 505 58^ 52,230 4-198 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 3, 1968 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. MinneLouis apolis Kansas City Dallas S an Francisco (In millions of dollars) A S S E T S Gold certificate account 10,025 610 1,965 570 851 951 498 1,965 348 222 335 323 1,387 F. R. notes of other banks Other cash 531 419 28 24 169 56 18 4 33 53 54 25 64 51 28 84 19 33 14 6 15 24 21 17 68 42 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 505 37 60 19 4 39 6 195 17 32 25 17 54 58 --- 58 -- — -- --- --- --- --- --- --- — -- --- --- 18,380 988 4,577 955 1,444 1,361 996 2,963 647 363 725 785 2,576 -- -- -- -- -- -- -- -- -- -- -- -- -- 27,746 6,104 52,230 1,491 328 2,807 6,909 1,520 13,006 1,442 317 2,714 2,180 479 4,103 2,055 452 3,868 1 ,503 331 2 ,830 4,472 984 8,419 977 215 1,839 548 121 1 ,032 1,095 241 2,061 1 ,186 261 2 ,232 3,888 855 7,319 __ -- -- -- -- -- -- -. -- -- -- -- -- 52,230 52,793 2,807 2,844 13.006 13,124 2,714 2,733 4.103 4,107 3,868 3,907 2 ,830 2 ,836 8,419 8,614 1.839 1,856 1 ,032 1,064 2,061 2,086 2 .232 2 ,249 7.319 7,373 Cash items in process of collection Bank premises Other assets 1/ 10,927 114 2,118 663 3 94 1,865 10 706 555 2 116 784 5 164 892 9 110 1 ,045 20 113 1,794 18 279 594 8 64 334 3 40 749 18 80 677 9 100 975 9 252 76,927 4,266 17,895 3,998 5,997 5,948 4,,627 12,782 2,922 1 ,683 3,307 3 ,396 10,106 TOTAL ASSETS 17 -— Includes assets denominated in foreign currencies and IMF gold deposited. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 3, 1968 New Total Boston York Phila- Clevedelphia land Richmond St. Atlanta Chicago MinneLouis apolis 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*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 42,940 20,964 1,148 261 525 22,898 9,250 9,788 2,507 3,444 961 5,389 213 53 9 1/ 124 1 2/ 433 725 59 10 54 848 548 1,605 2,519 1,024 632 6,159 1,471 3,974 91 17 * 2,364 7,584 1,603 985 1,245 116 93 10 12 7 1 3,244 741 53 6 2 802 454 1,713 1,118 1,351 684 749 802 124 27 2 3,397 1,523 751 1,613 1,472 5,321 546 52 4 903 86 8 3 1,153 3,467 34 10 2 174 24 20 602 1,000 289 618 1,199 3,685 630 850 -- 381 20 104 19 28 27 20 58 13 8 15 16 53 75,469 4,195 17,522 3,922 5,869 5,868 4,537 12,562 2,872 1,650 3,246 3,317 9,909 617 598 243 30 29 12 158 154 61 32 32 12 55 54 19 32 31 17 39 38 13 92 87 41 21 20 9 14 14 5 27 26 8 35 34 10 82 79 36 76,927 4.266 17,895 3,998 5,997 5,948 4,627 12,782 2,922 1,683 3,307 3,396 10,106 5 3/ 28 6 10 6 7 16 4 2 5 6 14 1,667 109 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S, Government securities Total collateral 1/ 2/ 2/ 2,611 10,173 2,565 3,661 4,078 2,471 7,814 1,677 775 1,000 475 600 640 350 1,000 206 77 9,400 2,300 3,100 3,500 2,150 ZJ,50_...A^520__ 10,400 2,775 3,700 4,140 2,500 8.150 After d e d u c t i n g $137 million participations of other Federal Reserve Banks. Includes IMF gold deposit, After d e d u c t i n g $81 million participations of other Federal Reserve Banks. 1,726 1,583 180 5,549 -- 715_.1.,.725___1.,_430_... 5.750 792 1,725 1,610 5,750 *Less than $500,000.
@FedFRASER