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FEDERAL *-?f**u£&V RESERVE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks For immediate release March 28, 1968 The average of daily figures of total member bank reserves held during the week ended March 27, decreased a net of $333 million to $25,332 million. Estimated currency and coin of member banks increased $149 million and their reserve balances at the Federal Reserve Banks decreased $482 million. Estimated required reserves decreased $99 million; and estimated excess reserves decreased $234 million to $172 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $410 million, compared with the revised figure of $327 million the week before. Gold Stock decreased $388 million to $10,484 million. H*4.1 The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $219 million in U. S. Government securities bought outright, $151 million in member bank borrowings, and $151 million in Federal Reserve float, and an increase of $39 million in Foreign deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $46 million in acceptances held under repurchase agreements, and decreases of $215 million in Treasury deposits with Federal Reserve Banks, $95 million in Treasury cash holdings, and $80 million in currency in circulation. Total Reserve Bank credit decreased $474 million. As of bought outright borrowings were million; notes Wednesday, March 27, 1968, holdings of U. S. Government securities were $352 million lower than a week earlier, and member bank $1,062 million higher. Outright holdings of bills decreased $421 and bonds increased $43 million, $26 million, respectively. Averages of daily figures Week ended Change from week ended Wednesday, Member bank reserves, Mar. 27, Mar. 20, Mar. 29, Mar. 27, Reserve Bank credit, 1 1968 1967 1968 and related items 1968 (In millions of dollars) Reserve Bank credit: U. S. Government securitiesBought outright—System account +5,092 49,621 49,495 -219 Held under repurchase agreements - 124 Federal Agency obligations-Held under repurchase agreements -Acceptances-** Bought outright 57 56 - 10 1 Held under repurchase agreements 46 + 7 44 46 Discounts and advancesMember bank borrowings 582 + 447 1,390 -151 Other 15 + 12 15 Float 1,517 - 60 1,344 -151 Total Reserve Bank credit 51,838 52,344 -474 +5,358 Gold stock 10,484 -388 10,484 -2,624 Treasury currency outstanding 6,800 + 304 6,799 69,123 +3,039 69,627 -861 Currency in circulation 46,153 - 80 +2,479 46,265 Treasury cash holdings 1,129 - 95 - 195 1,131 Treasury deposits with F. R. Banks 844 -215 + 188 965 Foreign deposits with F. R. Banks 205 + 68 161 + 39 Other deposits with F. R. Banks 465 + 18 475 - 40 Other F. R. accounts (net) -597 -1,195 -603 + 12 48,198 +1,361 ] 48,394 -380 Member bank reserves: With Federal Reserve Banks 20,924 -482 +1,677 21,232 Currency and coin (estimated) 4,408 +149 + 326 4,872 Total reserves held 25,332 -333 +2,003 26,104 Required reserves (estimated) 25,160 - 99 +2,216 25,190 Excess reserves (estimated) 172 -234 - 213 914 On March 27, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,464 million, a decrease of $285 million for the week and an increase of $860 million from the comparable date a year ago. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Mar. 27, Mar. 20, Mar. 29, 1967 1968 1968 A S S E T S Gold certificate account 1/ 2 -2,459 * 10,138 Cash + 102 (761) 441 6 Discounts and advances +1,366 1,405 +1,062 Acceptances: Bought outright 56 12 Held under repurchase agreements 44 + 12 44 Federal Agency obligations-Held under repurchase agreements U. S. Government securities: Bought outright— Bills 16,123 +3,547 421 Certificates ---4,351 Notes 27,116 +5,763 + 43 Bonds 6, 25.6. ± L +___2£ Total bought outright - 352 49,495 +4,966 Held under repurchase agreements 49,495 +4.966 Total U. S. Government securities z_ 352 Total loans and securities + 754 51,000 +6,332 Cash items in process of collection (2,095) - 816 7,088 + 526 Bank premises -. 113 + 5 Other assets 2/ 2,191 +1,378 + 30 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (2,856) ^_ 40 +5.884 70.971 11.4.1(a) 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 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (761) 40,693 21,232 965 161 475 (2,095) 22,833 5,744 (2,856) 69,577 307 12 + 327 + 225 46 +_ 9_ + 515 - 584 -__ 8_ 89 +2,310 +2,613 + 288 + 27 ± 21_ +2,949 + 442 + 89 +5,790 C A P T I H ACCOUNTS C a p i t a l p a i d in 612 2 + 34 Surplus -598 + 28 Other capital accounts - 47 184 + 32 Contingent liability on acceptances purchased for foreign correspondents 103 4 122 * 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.11 If Includes assets denominated in foreign currencies and IMF gold deposited, 3/ Includes IMF gold deposit> MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 27, 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 Within 15 days 1,388 49 2,266 -296 16 days to 90 days 17 51 11,094 + 9 91 days to 1 year — -25,942 -132 Over 1 year to 5 years --7,887 + 41 Over 5 years to 10 years --1,738 + 24 Over 10 years -~ 568 + 2 Total 1,405 100 49,495 -352 H. 4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 27, 1968 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Minne- Kansas Louis apolis City Dallas San Francisco (In millions of dollars) A S S E T S Gold certificate account 10,138 425 2,870 602 833 926 453 1,433 331 188 295 366 1,416 761 441 69 27 261 64 32 5 51 60 46 26 112 51 32 91 19 34 8 5 24 21 22 17 85 40 1,405 148 346 41 31 100 60 424 78 18 37 35 87 56 44 -• -- 56 44 -— — -- --- -— --- -— --- --- --- --- -- - — F. R. notes of other banks Other 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 Bank premises Other assets 1/ TOTAL ASSETS \ 1 16,123 863 3,918 818 1,221 1,206 872 2,648 586 322 651 689 2,329 -- -- __ -- -- -- -- -- -- -- -.- _- ... 27,116 6,256 49,495 1,451 335 2,649 6,591 1,520 12,029 1,377 2,053 2,028 1,466 318 474 468 338 986 228 2,513 3,748 3,702 2,676 4,454 1,027 8,129 1,800 541 1,094 125 253 988 1,998 1,158 267 2,114 -- -- -- -- -- -- -- -- -- I 49,495 2,649 | 51,000 2 ,797 12,029 12,475 2,513 2,554 3,748 3,779 3,702 3,802 2,676 2,736 8,129 8,553 1,800 1,878 1,006 9,183 593 1,688 523 657 721 867 1,488 440 113 2,191 3 97 10 733 2 104 5 171 8 113 20 119 18 291 8 68 j 73,827 4,011 18,101 3,822 5,556 5,642 4,358 11,906 2,778 1,543 [ 1/ Includes assets denominated in foreign currencies and IMF gold deposited• 3,917 903 7,149 -- -- 988 1,998 2,035 2 .114 2 ,149 7.149 7,236 289 564 541 3 44 18 84 9 106 812 9 261 3,210 9,859 3,041 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 27, 1968 Boston Total Phila- Clevedelphia land New York Richmond ____ Atlanta Chicago St. Louis Minneapolis Kans as City Dallas 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 41,454 2,438 9,661 2,398 3,333 3,810 2,286 7,272 1,541 718 1,535 1,391 5,071 21,232 854 58 5,984 986 110 1,138 3,005 899 67 53 98 7 1 920 569 1/ 49 .. 1/433 6,624 1,381 9 2 1,234 735 22 1 3,127 1,248 5 1 817 361 493 41 3 3,693 99 753 58 1,216 85 161 475 22,833 7,839 806 80 8 1,405 965 7 ? 975 459 9 1 307 16 i 72,433 3,943 157 154 48 32 32 184 30 29 9 73,827 L 4-,oii 18,101 103 5 3/26 ! 612 I 598 158 58 14 898 439 1,477 600 8 8 1,112 622 76 14 17 51 11 7 1? 14 3,749 24 5,434 23 17,742 5,567 4,272 11,698 2,730 1,511 2,981 3,133 55 54 13 32 31 12 39 38 .9 90 87 31 21 20 7 14 14 4 27 26 7 35 34 a 80 79 ?7 3,822 j,_55_6 5,642 4,358 _11,906 2,778 1,543 3,041 3,210 9,859 5 9 2 5 6 14 A 9 5_ 7 15 539 247 4__ 1,279 449 20 20_ 3,831 729 42 9,673 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 2,509 10,221 2,451 3,553 3,908 2,425 7,488 1,621 743 1,606 1,501 5,361 350 1,000 496 600 640 450 1,400 306 77 225 180 575 2,176 2,526 9,400 10,400 2,100 2,596 3,100 3,700 3,310 3,950 2,150 2,600 6.450 7,850 1,370 1,676 66J _L,450 762 1,675 1,380 1,560 5.000 5,575 \J After deducting $112 million participations of other Federal Reserve Banks, _2/ Includes IMF gold deposit. Digitized for 3/ FRASER After deducting $ 77 million participations of other Federal Reserve Banks, Less than $500,000,
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