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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release March 13, 1969 The average of daily figures of total reserves of member banks decreased $220 million (net) to $26,730 million. Required reserves declined reflecting reductions in member bank demand deposits in late February. Excess reserves rose moderately but remained slightly below the average level of recent weeks. i A decline in Treasury deposits with Federal Reserve Banks provided a moderate amount of reserves in the latest statement week. A seasonal decline in float and a somewhat greater than seasonal rise in currency in circulation were the major factors absorbing reserves. System Open Market operations absorbed about $100 million of reserves on a weekly average basis. Member bank borrowings rose $138 million, on weekly average, to a level slightly above the average of recent weeks. Borrowings exceeded excess reserves by $666 million, compared to the revised figure of $567 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 advancesMember 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, March 13, March 12, March 12, March 5, 1968 1969 1969 1969 : dollars) t millions of (Ir 31 15 72 + 2,874 70 3 7 8 50 5 1 12 872 + 138 2,389 55,390 10,367 6,818 72,576 _ 118 ~^~"~BB -- 49,459 + 732 465 156 468 - 52,040 - 733 50,548 22,027 4,703 26,730 26,524 206 + - 5 82 302 26 66 31 13 15 214 297 + —11 - + - + + 220 259 39 51,997 -- 6 5 49 93 8 + 916 T" 3,/9b - 1,242 731 -t- + + 23 + 2,577 + 3,254 543 543 + 34 10 259 + 1,934 + 641 +_ 541 + 1,182 + 1,434 252 -- 2,026 I 54,803 10,367 6,816 71,986 49,590 732 420 137 468 - 918 50,429 21,557 4,703 26,260 26,524 - 264 NOTE: A net of $96 million of surplu s reserves were eligible to be carried forward from the week ended March 5, into the week ending March 12. On March 12, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,032 million, an increase of $15 million for the week. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL t&SERVE BANKS (In millions of dollars) Change since Wednesday liar V 13, March 12, Mar. 5, 1968 1969 1969 A S S E T S Gold certificate account 1/ 10,025 909 H.4.1(a) Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligationsHeld under repurchase agreements U. S. Government securities: Bought outrightBills 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 ( 811) 3 14 227 731 + 215 544 49 17,645 29,988 4,364 51,997 + 51,997 165 +1,816 62 24 79 +2,916 -1,816 +2,916 79 +2,916' - 52,777 8,678 115 2.578 95 764 + 1 +3,453 + 677 ±__iL (2,856) 74,400 844 + 437 +3,447 (811) 43,391 206 +2,663 (2,045) + 4 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 U P I T A L C a p i t a l paid i n Surplus 21,557 420 137 468 22,582 (2,045) 6,652 404 (2,856) 73,029 + - 750 65 12 -__ 30 - 727 - 153 18 - 692 + + 775 - 500 2 +__ 5_ + 278 + 344 + _£2 +3 ,377 ACCOUNTS 638 629 104 - 1 1 152 + + + 28 31 11 Other capital account Contingent liability on acceptances purchased for foreign correspondents 105 + * 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.1' 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION J0F_.LOANS-AMD, SECURITIES, MARCH 12, 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 Within 15 days 16 day to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total -- ----- Holdings 2,168 8,765 8,014 19,049 13,370 631 731 49 51,997 advances 728 3 -_ -_ Ac ceptances 15 34 Weekly changes + 29 -168 - 15 + 41 + 20 + 14 - 79 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 12, 1969 Total ! Boston A S S E T S Gold certificate account New York Philadelphia Cleve- RichAtlanta Chicago land mond (In millionsi of doll.ars) St. Louis Minneapolis Kansas Dallas City San Francisco 10,025 407 2,075 546 849 927 511 1,655 364 98 372 384 1,837 F. R. notes of other banks Other cash 811 227 56 10 230 23 62 6 73 27 74 20 89 29 45 23 20 24 10 5 19 18 38 13 95 29 Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligationsHeld urider 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 731 22 114 - 13 32 40 159 70 66 38 37 133 49 --- 49 --- --- -— --- -- -- --- --- --- — -- -__ 907 4,516 900 1,355 1,300 916 2,948 583 346 669 717 2,488 -- -- -- -- -- -- -- -- -- -- 1,529 2,302 2,209 990 589 1,138 1 ,220 33S 321 7?Q 144 86 166 178 61 S 2,652 3,992 3,830 1,556 ??6 2,698 5,011 733 8,688 1,717 1,021 1,973 2 ,115 7,331 -- -_ 8,688 -- .- —_ --- 17,645 "*** t 7,674 29,988 ; 1,542 ??4 1 ,117 a^a 2,673 13,307 51,997 4,228 SI ,"397 --?,67T 13,307 -. -. ?,65? ^w •3,830 _UQ21_ 1 Q7T 13,470 2,659 4,005 3,862 8,847 1,787 ~T.115 2,695 ?,6qa 2,738 1 ,717 52,777 1,087 2,011 2 ,152 7 331 7,464 Cash items in process of collection 10,723 Bank premises ! 115 Other assets 1/ : 2,578 699 3 115 1,844 10 827 594 2 125 801 5 206 844 11 133 1,052 18 144 1,657 17 352 570 8 81 412 4 52 717 19 99 585 9 127 948 9 317 3,985 18,479 3,994 5,966 5,871 4,581 12,596 2,854 1,668 3,255 3 ,308 10,699 TOTAL ASSETS 2/ —~ 77,256 - -. Includes assets denominated in foreign currencies and IMF gold deposited. -- H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 12,1969 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. MinneLouis apolis Kansas City Dallas San Francisco (In million 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 accn.ted dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1 7,887 1,641 759 1,647 1,524 5,407 709 1 4 1 715 438 523 1 3 1 528 341 931 7 12 1,007 720 1,236 3,035 1 * 1 8 19 2 2 1,246 3,057 1,380 887 6 3 940 595 1,206 1 7 2 1,216 476 4,198 2 18 15 4,233 814 31 5,841 29 5,798 21 4,494 66 12,390 13 2,807 9 1,637 14 3,196 16 3,232 62 10,516 33 33 5 59 56 10 33 32 8 41 40 6 95 93 18 22 22 3 15 14 2 28 27 4 36 36 4 84 85 14 3,994 5,966 5,871 4,581 12,596 2,854 1,668 3,255 3,308 10,699 44,202 2,593 10,222 2,526 3,614 4,042 21,557 420 137 468 22,582 8,697 686 885 7 2 894 484 1,516 1 12 * 1,529 667 987 6 1 693 612 5,645 412 1/ 40 427 6,524 1,283 404 75,885 20 3,918 104 18,133 19 3,923 638 629 104 31 31 5 161 160 25 77,256 3,985 18,479 2,340 • Contingent liability on ace:eptances purchased for forei-gn correspondents 105 • _ _ _ 5 _ 27 5_ 5 9 7_ 16 4_ 2 5 6 • • • 14 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R, notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 2,731 10,802 2,604 3,849 4,178 2,520 8,147 1,698 781 500 300 560 600 -- 1,000 180 27 10,600 2,500 3,400 3,649 2,600 7,650 1,600 785 1,775 1,630 6,250 11,100 2,800 3,960 4,249 2,600 8,650 1,780 812 1,775 1,785 6,250 1/ After deducting $ 97 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. DigitizedVfor FRASER After deducting $ 78 million participations of other Federal Reserve Banks. 1,714 1,674 5,731 155 * — Less than $500,000.
@FedFRASER