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s$&g& • f£»?> FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release March 21, 1968 H.4.1 The average of daily figures of total member bank reserves held during the week ended March 20, increased $111 million to $25,659 million. Estimated currency and coin of member banks increased $105 million and their reserve balances at the Federal Reserve Banks increased $6 million. Estimated required reserves increased $168 million; and estimated excess reserves decreased $57 million to $411 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $322 million, compared with the revised figure of $311 million the week before. Gold Stock decreased $737 million to $10,872 million. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $674 million in U. S. Government securities bought outright, and $181 million in Federal Reserve float, and decreases of $135 million in "Other" F. R. accounts (net), and $51 million in Treasury cash holdings. The principal offsetting changes were a decrease of $101 million in U. S. Government securities held under repurchase agreements, and increases of $51 million in Treasury deposits with Federal Reserve Banks, and $44 million in Foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $702 million. As of Wednesday, March 20, 1968, holdings of U. S. Government securities bought outright were $766 million higher than a week earlier, and member bank borrowings were $156 million higher. Outright holdings of bills, notes, and bonds increased $715 million, $1 million, and $50 million, respectively. Member bank reserves, Reserve Bank credit, and related items Averages of daily figures Week ended I Change from week endei Wednesday, Mar. 20, Mar. 20, Mar. 13, I Mar. 22, 1968 1968 I 1968 I 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities-fcought outright--System account Held under repurchase agreements Federal Agency obligations-^ e l d under repurchase agreements Acceptances— Bought 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) 49,840 +674 -101 +5,462 - 328 - 11 11 56 49,847 15 56 733 15 1,654 52,297 10,872 6,801 69,970 - 46 + 7 +181 +702 -737 + 6 - 29 + 431 + 15 204 +5,350 -2,236 + 318 +3,431 328 15 1,549 51,795 10,484 6,800 69,079 46,233 1,224 1,059 166 505 -609 48,578 + 28 - 51 + 51 + 44 + 27 -135 - 36 +2,515 80 + 467 + 29 + 69 -1,213 +1,787 46,257 1,145 740 207 466 -614 48,201 21,392 4,267 25,659 25,248 + 6 +105 +111 +168 - 57 +1,645 + 322 +1,967 +2,123 - 156 20,878 4,720_ 25,598 25,405 411 193 On March 20, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,749 million, an increase of $301 million for the week and an increase of $1,165 million from fhe comparable date a year ago. H.4.1(a) CONSOLIDATED S^AtEM&ft <$ CONDlttdN OF ALL FEDERAL RESERVE BANKS (In miilloits of d o l l a r s ) Wednesday Change since Mar. 20, Mar. 13, M a r . 2 2 , 1967 1968 1968 ASSETS Gold certificate account 1/ Cash 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 Cash items in process of collection * (760) 10,140 447 343 - 794 -:5 + 156 12 56 16,544 -27,073 6,230 49,847 — 49,847 50,246 7,877 -2,461 + 103 + 232 + 715 -- + i *r 1 50 TSE -- JL. +3,968 -4,351 -i-5,731 + 21 +57369 - 394 +4,975 +5,188 39 + 5 +1,380 +4,176 (2,221) 113 Bank premises Other assets 2/ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,981) L I A B I L I T I E S (760) Federal Reserve notes Deposits: Member bank reserves 2,161 70,984 766 + ~9T2 - 124 2 T "f 20 +~"IT 40,705 23 +2,272 U. S. Treasurer—general account Foreign Other 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (2,221) i 20,878 + 740 207 466 - 96 180 68 r 3 + +1,248 + 443 + 73 + 35 '22-, 291 6,328 315 69,639 TJ 20 3 13 TT,799 67 V 92 i +4,096 C A P I T A L A C C O U N T S Capital paid in 610 -+ 32 Surplus 598 + 28 Other capital accounts 137 - 44 + 20 Contingent liability on acceptances purchased for foreign correspondents 107 4 111 * 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. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 20, 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 Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total Discounts and advances 324 Acceptances 6 19 50 ---— .---- 343 56 Federal Agency obligations Holdings Weekly changes -f857 2,562 -344 11,085 +203 26,074 + 50 7,846 -_ 1,714 -^ 566 49,847 +766 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 20, 1968 H.4.1(b) Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. MinneLouis apolis Kansas City Dallas San Francisco (In millions of dollars) A1 £ E T s_ 10,140 597 2,364 585 814 929 561 1,780 377 175 377 341 1,240 F. R. notes of other banks Other clash 760 447 70 26 258 65 36 6 51 63 49 26 108 54 30 89 18 34 7 6 23 22 24 17 86 39 Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U. S. Government securities: Bought outright-- 343 24 79 16 8 10 32 65 16 14 23 5 51 56 --- 56 -- --- --- --- --- --- --- -— --- .— -- -- -- -- -- 4,021 840 1,252 1,238 894 2,717 602 330 668 707 2,390 -- -- -- -- — — — -- -- 1,375 2,050 2,025 316 472 466 2,531 3,774 Gold certificate account Mils Certificates Notes Bonds J£<au£L 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/ -— 16,544 -- 885 — 1 ,449 333 27,073 6,230 49,847 ~T,667 6,580 1,514 12,115 -- -- -- -- -- 49.847 50,246 ~T.667 12,115 12,250 2.531 2,547 3,774 3,782 10,098 617 3 96 1,771 10 726 606 2 103 754 5 171 786 8 108 4 ,100 17,444 3,885 5,640 5,645 113 2.161 73,965 2 ,691 Includes assets denominated in foreign currencies and IMF gold deposited. — 1,464 337 3,729 ~~1,695 -- — 4,447 1.023 8,187 -- 984 227 1,813 — — 540 1,093 125 251 995 2,012 1 ,156 266 3,910 ~2 ,129 7,200 -- -_ 2 ,134 7.200 7,251 900 -- .-- -- 8.187 8,252 1.813 1,829 995 1,009 2.012 2,035 932 20 117 1,675 18 286 512 8 67 308 3 44 618 18 82 596 9 104 923 9 257 4 ,519 12,130 2,845 1,552 3,175 3 ,225 9,805 -- 3.729 ~2 ,695 2 ,727 3,739 "T.129 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 20, 1968 Total New York Boston Phila- Clevedelphia land Richmond Atlanta Chicago St. 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 M D CAPITAL ACCOUNTS Contingent liability on ace eptances purchased for forei gn corresnondents 41,465 2,440 9,670 2,393 3,331 3,797 2,292 7,278 1,542 717 1,541 1,394 5,070 20,873 740 207 466 22,291 8,549 937 33 10 5,304 145 1/ 58 2/420 5,927 1,417 830 26 11 3 920 436 1,446 29 13 1 1,494 673 978 73 10 9 1,070 683 1,247 57 13 1 1,318 809 3,145 51 29 1 3,226 1,375 786 41 7 2 836 410 492 28 5 7 532 266 947 104 9 3 1,063 501 1,182 53 11 1 1,247 495 3,534 95 26 18 3,673 840 83 16 4,035 17,097 15 3,814 23 5,521 23 5,573 17 4,436 51 11,930 11 2,799 6 1,521 12 3,117 14 3,150 44 9,627 157 154 36 32 32 7 55 54 10 32 31 9 38 33 7 90 37 23 21 20 5 14 14 3 27 26 5 35 34 6 80 79 19 3,835 5,640 5,645 12,130 _Jj8±5_ 1,552 33,175 3,225 9,305 6 10 5 2 5 6 14 315 72,620 610 593 137 73,965 107 * 935 594 29 29 7 4,100 _17.,_444_ 5 3/ 27 _l>lii_ 7 16 4 FEDERAL RESERVE /GENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 2,446 3,561 3,906 2,434 7,489 1,614 741 1,609 1,499 5,373 1,000 496 600 640 450 1,400 316 127 225 180 735 2,176 9,400 2,626 10,400 2,100 2,596 3,100 3,700 3,310 3,950 2,150 2,600 6,450 7,350 1,370 1,686 635 762 1,450 1,675 1,380 1,560 5,000 5,735 2,521 10,254 450 1/ After deducting $149 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After dpductjrx* $flQnr'1 17 on rrrM.cioations of other Federal Reserve Banks, * Less than $500,000.
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