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FEDERAL RESERVE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.I**"'* For immediate release March 14, 1968 The average of daily figures of total member bank reserves held during the week ended March 13, decreased a net of $281 million to $25,533 million. Estimated currency and coin of member banks increased $35 million and their reserve balances at the Federal Reserve Banks decreased $316 million- Estimated required reserves decreased $425 million; and estimated excess reserves increased $144 million to $470 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $309 million, compared with the revised figure of $174 million the week before. Gold Stock decreased $274 million to $11,609 million. The principal changes reducing average reserve balances with Federal Reserve Banks was a decrease of $263 million in Federal Reserve float, and an increase of $373 million in currency in circulation. The principal offsetting changes were increases of $279 million in member bank borrowings, and $147 million in U, S. Government securities bought outright, and a decrease of $56 million in "Other" F. R. accounts (net). Total Reserve Bank credit increased $225 million. As of bought outright securities held bank borrowings Wednesday, March 13, 1968, holdings of U. S. Government securities were $9 million higher than a week earlier, U. S. Government under repurchase agreements were $149 million lower, and member were $647 million lower. Averages of daily figures Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securitiesBought outright--System account Held under repurchase agreements Special certificates Federal Agency obligations — ••-'" Held 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 (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) Week ended Change from week ended Wednesday, Mar. 6, Mar. 15, Mar. 13, Mar. 13, 1 1968 1967 1968 1968 (In millions of dollars) 49,081 -- +5,038 - 255 64 11 + 2 4 -- 56 - 1 14 56 779 8 1,466 51,588 11,609 6,795 69,992 46,205 1,275 1,008 122 478 -474 48,614 +279 + 7 -263 +225 -274 - 2 - 50 +373 - 26 + 16 - 30 - 11 - 56 +267 + 606 + 8 + 1 +5,317 -1,498 + 332 +4,151 +2,452 8 + 764 13 + 24 -1,148 +2,070 172 15 I 1,682 51,006 11,434 6,799 69,239 46,315 1,270 920 139 463 -639 48,468 21,379 4,154 25,533 25,063 470 -316 + 35 -281 -425 +144 +2,083 + 168 +2,251 +2,153 + 98 20,771 4,767 25,538 25,243 295 49,166 101 +147 + 52 -- -"" On March 13, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,448 million, a decrease of $531 million for the week and an increase of $1,011 million from the comparable date a year ago. H.4.1(a) CONSOLIDATED STATEMENT OF CONDlMoN OF ALL FEDERAL RESERVE BANkS (In millions of dollars) Change since Wednesday Mar. 15, Mar. 13, Mar. 6, 1967 1963 1968 ASSETS Gold certificate account 8,997 450 -1,787 -Redemption fund for F. R. notes + 109 1,937 Total gold certificate reserves -1,678 - 450 10,934 Cash (752) + 2 + 97 442 Discounts and advances 187 - 637 91 Acceptances: Bought outright 56 14 Held under repurchase agreements Federal Agency obligationsHeld under repurchase agreements 30 12 U. S. Government securities: Bought outrightBills +3,436 15,829 9 -_ Certificates --4,351 Notes — +5,730 27,072 Bonds -«. 6,180 -, .,?.9_ Total bought outright + +4,786 9 49,081 _149 Held under repurchase agreements - 315 „,, 140 Total U. S. Government securities 49,081 HtjJtll - 807 Total loans and securities +4,354 49,324 7,990 Cash items in process of collection + 355 + 571 (1,971) Bank premises 1 + 3 111 Other assets 1/ + 85 +1,389 2,141 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,732) +4,520 3_ 600 70,942 H A I I I i l l IE S Federal Reserve notes 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 (752) 40,728 + 189 +2,261 20,771 -1,096 + 102 22 25 -1,041 + 386 6 - 472 +1,413 + 468 + 11 + 8 +1,900 + 201 + 84 +4,446 920 139 463 (1,971) 22,293 6,308 (2,732) 69,641 312 C A P I T A L ACCOUNTS, + 33 1 Capital paid in 610 -+ 28 Surplus 598 + 13 129 93 Other capital accounts Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on 1.1% - 5.8% 26.4% the following pages—not consolidated) Contingent liability on acceptances purchased 94 for. foreign correspondents 111 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 13, 1968 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance x^ith maximum maturity of the agreements.) U. S. Government securities and Discounts and Federal Agency obligations Weekly changes Holdings advances Acceptances Within 15 days 1,705 10 164 "~ -348 16 days to 90 days 46 8 11,429 +182 91 days to 1 year 15 25,871 - 4 Over 1 year to 5 years __ 7,796 Over 5 years to 10 years -1,714 Over 10 years -566 Total 187 56 49,081 •170 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 13, 1968 H.4.1(b) New York " '' »- —-" Phila- CleveRich- Atlanta Chicago delphia land mond (In millions of dollars) St. MinneLouis apolis Karisas Ci-ty Dallas San Francisco Total Boston 8,997 1,937 10,934 514 110 624 2,082 472 2,554 529 101 630 724 156 880 828 176 1,004 499 107 606 1,585 328 1,913 350 67 417 157 32 189 333 75 408 298 70 368 1,098 243 1,341 F. R. notes of other banks Other cash 752 442 72 25 260 59 32 7 54 62 43 27 102 53 33 88 20 35 7 6 23 22 23 18 83 40 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 187 33 50 4 6 4 3 63 4 * 10 2 8 "" 1 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash items in process of collection Bank premises Other assets 1/ TOTAL ASSETS 1/ Includes assets denominated ! 56 56 — — — -- — — -- 15,829 831 3,945 808 1,178 1,184 27,072 6.180 49,081 1 ,421 324 ,576 2 6,748 1.540 12,233 1,381 315 2,504 2,014 460 3,652 2,024 462 3,670 -- -- -- -- -- -- -- -- 49,081 49,324 2 ,576 2 ,609 12,233 12,339 2,504 2,508 3,652 3,658 3,670 3,674 2 ,642 2 ,645 9,961 111 2.141 601 3 95 1,866 10 720 591 2 103 744 5 168 799 8 107 73,665 4 ,029 17,808 3,873 5,571 5,662 852 2,609 — m. — -- 554 314 601 646 2,307 1 ,457 4,463 947 333 __i,_oi9 _ 216 2 ,642 8,091 1,717 537 123 974 1 ,028 235 1 ,864 1 ,106 252 2 ,004 3,946 901 7,154 -- -- -- -- -- 8,091 8,154 1,717 1,721 974 974 1 ,864 1 ,874 2 ,004 2 ,006 7,154 7,162 931 20 117 1,603 18 283 507 8 66 308 3 43 612 17 82 553 8 103 846 9 254 4 ,474 12,092 2,774 1,530 3 ,038 3 ,079 9,735 in foreign currencies and IMF gold deposited. * Less than $500,000. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 13, 1968 1 Total New York Boston Richmond Atlanta Chicago Phila- Clevedelphia land St. Louis Minne- 1Kans as apolis City Dallas San Francisco < (In mill]Lons 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 41,480 20,771 920 139 __46JL 22,293 8,279 2,444 9,677 883 64 7 5,621 195 1/ 35 _.2Z42Z. ~ ~954~ 6,273 1,440 552 2,389 3,334 3,806 853 46 7 987 81 7 10 907 493 1,436 37 13 * 1,486 613 L. ~ l7085" 680 2,298 7,257 1,172 81 9 _2_ 1,264 814 3,178 64 20 3_ 3,265 1,326 1,541 752 41 5 *.. 798 379 715 1,543 1,389 5,087 481 23 3 884 66 6 1,075 53 8 510 269 958 469 1,137 467 3,449 169 19 19 3", 656 " 777 i_ 2_ ..1 16 3,966 83 17,473 16 3,805 22 5,455 22 5,593 17 4,393 51 11,899 11 2,729 6 1,500 12 2,982 13 3,006 43 9,563 29 29 5 157 154 24 32 32 4 55 54 7 32 31 6 38 38 5 90 87 16 21 20 4 14 14 2 27 26 3 35 34 4 80 79 13 1 73,665 4,029 17,808 3,873 5,571 5,662 4,474 12,092 2,774 1,530 3,038 3,079 9,735 111 5 3/ 29 6 10 6 5 6 15 312 72,364 610 i 598 ! 93 1 7__ 16_ 4 A. FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding collateral for F. R, notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 2/ 3> 43,356 2,523 10,262 2,425 3,555 3,907 2,438 7,468 1,611 737 1,607 1,501 5,322 6,638 450 1,000 500 600 640 450 1,400 331 127 225 180 735 38,521 2.176 9.400 2,100 3,100 _i»-3I0_ 2,150 6.450 1.370 635 1.450 1,380 5.000 45,159 2,626 10,400 2,600 3,700 7,850 1,701 762 1,675 1,560 5,735 Includes IMF gold deposit. Afte-r deducting $ 82 ntfllion participations of other Federal Rosei ve Banks. 3,950 2,600 * Less than $500,000.
@FedFRASER