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••JSSiic,: **rf*4Li&*y FEDERAL RESERVE Factors Affecting Bonk Reserves and C o n d i t i o n Statement of F.R. Banks H.4.1 For immediate release May 2, 1968 The average of daily figures of total member bank reserves held during the week ended May 1, increased $32 million to $25,533 million. Estimated currency and coin of member banks increased $11 million and their reserve balances at the Federal Reserve Banks increased $21 million. Estimated required reserves decreased $136 million; and estimated excess reserves increased $168 million to $284 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $390 million compared with the revised figure of $535 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $176 million in U. S. Government securities bought outright, and $130 million in U. S. Government securities held under repurchase agreements, and a decrease of $127 million in currency in circulation. The principal offsetting change was a decrease of $389 million in Federal Reserve float. Total Reserve Bank credit decreased $41 million. As of bought outright securities held bank borrowings Wednesday, May 1, 1968, holdings of U. S. Government securities were $932 million higher than a week earlier, U. S. Government under repurchase agreements were $646 million higher, and member were $19 million higher. 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 Gurrency 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) Averages of daily figures Week ended Change from week ended Wednesday, May 1, May 1, Apr. 24, May 3, 1968 1968 1967 1968 (In millions of dollars) 50,103 130 +176 +130 + 56 13 — + 13 + 23 1,452 52,449 10,484 6,797 69,730 -389 - 41 194 490 -601 48,759 20,971 4,562 25,533' 25,249 284 50,242 646 22 5 674 15 46,481 1,121 1,073 +4,808 - 164 -- --- - 41 -127 - 3 + 35 + 34 + 3 - 7 - 62 + 21 + 11 +~T2 -136 +168 13 89 56 59 + 540 10 + 11 +5,080 -2,625 + 231 +2,686 713 15 +2,689 - 269 - 128 + 67 + 29 -1,104 +1,286 ; +1,401 1 + 509 +1,910 +2,031 - 121 1 1,490 53,243 10,484 6,795 70,522 46,612 1,112 732 165 504 -690 48,435 22,087 4,793 26,880 25,601 1,279 On May 1, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,745 million, an increase of $207 million for the week and an increase of $792 million from the comparable date a year ago. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In m i l l i o n s of d o l l a r s ) h?nge s inc g Wednesday April 24, May 3, May 1, 1967 1968 1968 A S S E T S •2,475 Gold c e r t i f i c a t e account J^/ 10,128 -Jffe 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 6c CAPITAL ACCOUNTS i l ^ B I L IT 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 (819) 426 728 56 59 + + 6 19 -. - • 22 16,663 + 932 -- ----<- 932 99 569 14 57 59 22 27,246 6,333 50,242 + + <- 17 +3,120 -4,352 +5,878 16 113 -- (2,973) 2,359 72.962 + 188 ±L,959 +4,630 + 117 +4,747 +5,262 + 753 + 5 +1,429 +5,073 (819) 40,999 61 +2,394 22,087 +2,634 - 853 + 7 + 19 +1,807 + 8 + 40 +1,916 +1,989 - 242 + 27 + 40 +1,814 + 648 + 122 +4,978 646 (2,154) 50,888 51,753 8,183 732 165 504 ( 1) ( 1) (2,153) 23,488 6,693 (2,973) 71,541 361 + 646 +1 ,578 +1 ,678 + 87 C A P I T A L A C C O U N T S Capital paid in 614 -+ 35 Surplus 598 -+ 28 Other Capital accounts 209 - 43 + 32 Contingent liability on acceptances purchased for foreign correspondents 118 + 8 161 * Figures in parentheses are the eliminations made in the consolidating process, JL/ Includes amount of gold certificates previously included in "Redemption fund for F. R. notes/1 2j Includes assets denominated in foreign currencies and IMF gold deposited, 3/ Includes IMF gold deposit, MATURITY DISTRIBUTION OF LOANS AND SECURITIES, May 1, 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 Acceptances Holdings Weekly changes advances 6,244 +4,446 71 Within 15 days 710 -3,340 7,809 44 16 days to 90 days 18 -«+ 494 26,527 91 days to 1 year --• -. 7,988 Over 1 year to 5 years ---1,765 Over 5 years to 10 years ---Over 10 years 577 Total 728 115 50,910 +1,600 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 1, 1968 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. MinneLouis apolis Kansas City San Dallas Francisco (In millions of dollars) A S S E T S Gold certificate account 10,128 691 1,913 608 1,021 912 451 2,008 368 90 282 217 1,567 F.. R. notes of other banks Other cash 819 426 61 27 269 52 43 6 55 60 53 23 116 50 35 86 23 34 11 6 22 23 19 18 112 41 Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligationsHeld 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 728 49 43 10 14 18 38 256 40 18 46 49 147 56 59 --- 56 59 --- --- --- -— --- — -- --- --- --- --. Cash items in process of collection Bank premises Other assets 1_/ TOTAL ASSETS 17 22 22 16,663 864 4,227 861 1,255 1,237 899 2,686 577 337 656 707 2,357 -_ __ -- -- -- -- -- -- -- -- -- -- _» 2,053 2,022 1,470 341 942 219 552 128 1,738 1,017 ,250 1,978 1,157 269 2 ,133 3,854 470 4,393 1,021 8,100 1,072 477 -- -- -- -- -- -- 3,729 ~2~.710 2 ,748 3,747 8.100 8,356 1,738 1,778 1,035 2,024 ~2~.133 2 ,182 7.107 7,254 1,732 18 314 522 8 72 305 3 47 612 18 90 544 9 111 878 9 282 4.,464 12,549 2,805 1,497 3 ,071 27,246 1,412 ' 6,333 328 150,242 ~~2,604 -| 646 50,888 ~ ,604 2 ,653 51,753 10,337 113 2,359 75,935 6,912 1,407 1,607 327 12,746 ~~2,595 3,785 -- -- 13,392 ~1 ,595 13,572 2 ,605 3,785 3,799 10 791 685 2 113 785 5 183 830 8 124 4 ,232 18,407 4 ,062 5,908 5,697 692 3 105 646 1,800 Includes assets denominated in foreign currencies and IMF gold deposited. 3,729 ~2 ,710 -- 952 20 127 ~T,017 "T.978 896 7,107 3 ,100 10,143 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 1, 1968 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis Kans as 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 AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents 41,818 2,446 9,619 2,424 3,344 3,870 2,280 7,360 1,557 731 1,559 1,419 5,209 22,087 732 165 505 23,489 8,846 936 79 7 1 1,023 677 6,098 209 1/ 54 2/460 6,821 1,489 924 36 8 3 971 576 1,648 45 13 1 1,707 707 971 38 8 10 1,027 698 1,171 54 9 2 1,236 842 3,308 137 22 3 3,470 1,452 720 45 5 1 448 7 3 2 905 11 7 2 1,126 4 9 1 3,832 67 20 19 771 417 460 266 925 513 1,140 449 3,938 760 361 74,514 17 4,163 111 18,040 17 3,988 26 5,784 24 54 12,336 12 8 13 14 47 5,619 18 4,376 2,757 1,465 3,010 3,022 9,954 614 598 209 30 29 10 158 154 55 32 32 10 55 54 15 32 31 15 39 38 11 90 87 36 21 20 7 14 14 4 27 26 8 35 34 9 81 79 29 75,935 4,232 18,407 4,062 5,908 5,697 4,464 J. 2^549 2,805 1,497 3,071 3,100 10,143 118 6 3/ 30 6 11 6 4 3 5 7 16 7 17 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 43,837 2,511 10,231 2,492 3,612 3,975 2,405 7,594 1,641 752 1,620 1,520 5,604 330 1,000 496 600 640 450 1,400 206 77 225 180 39,606 45,210 2,216 2,546 9,400 10,400 2,100 2,596 3,100 3,700 3,395 4,035 2,150 2,600 6,450 1,520 695 1.450 1.380 5.750 7,850 1,726 772 1,675 1,560 5,750 1/ After deducting $111 million participations of other Federal Reserve Banks 2/ 3/ Includes IMF gold deposit, After deducting $ 88 million participations of other Federal Reserve Banks, 5,484
@FedFRASER