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H.4 Factors Affecting Bank Reserves and Condition Statement of F.R. Banks F o r immediate release November 21, 1968 The average of daily figures of total reserves held by member banks declined $166 million to $26,885 million. Required reserves increased $174 million, somewhat more than seasonal. Excess reserves declined $340 million as banks used surplus reserves accumulated in the previous week to meet reserve needs. In the latest statement week, reserves were provided by a sharp mid-month rise in float and a substantial decline in Treasury deposits with Federal Reserve Banks. Currency in circulation and other F. R. accounts (net), increased, absorbing a moderate amount of reserves, while other factors remained about unchanged. System Open Market operations absorbed $262 million reserves (net) on weekly average, primarily through matched sale-purchase transactions. Member bank borrowings declined $164 million to $511 million; and with excess reserves declining sharply,.borrowings exceeded excess reserves by $368 million, compared with the revised figure of $192 million the week before. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities-Bought outright—System account Held under repurchase agreements Federal Agency obligations-Held 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 Total reserves held Required reserves Excess reserves Averages of daily figures Week ended Change from week ended Wednesday, Nov. 20, Nov. 22, Nov. 20, Nov. 13, 1968 1967 1968 1968 (In millions of dollars) 53,502 -/52,391 - 53 -172 +5,790 - 122 - 13 3 + 3 - 27 8 61 -- -- -- 511 -164 + 384 142 2,597 56,672 10,367 6,792 73,831 +596 +169 + 6 +176 + 820 +6,876 -2,539 + 10 ! +4,347 ! 2,451 55,045 10,367 6,797 72,209 +161 + 1 -421 + 23 + 11 +142 - 80 +3,386 - 686 - 436 + 7 + 1 - 110 +2,165 49,558 -- 62 49,475 765 615 155 443 -189 51,266 — -- 777 643 155 424 - 414 51,143 22,566 4,319 26,885 26,742 +257 21,066 +2,183 + 80 ; -423 4,319 -166 +2,263 ' 25,385 +174 +2,341 26,742 143 -340 78 1 -1,357 NOTE: A net of $226 million of surplus reserves were eligible to be carried forward from the week ended November 13, into the week ending November 20. \J Reflects $1,165 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. On November 20, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,036 million, an increase of $633 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BAtiKS (In millions of dollars) Wednesday Nov. 20, 1968 A S S E T S Gold certificate account 1/ Cash 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 Cash items in process of collection Bank premises Other assets 3/ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS 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 4/ Total deposits Deferred availablity cash items Other liabilities and accrued dividends TOTAL LIABILITIES (618) Change since Nov, 13, Nov. 22, 1967. 1968 -2,374 10,026 265 142 92 52 7 14 + 61 18,210 -1,337 4-3,039 28,706 5,475 52,391 2/ + 282 +1,788 - 612 +4,215 52,391 52,594 (2,433) 9,763 -1,337 -1,351 +1,269 - -1,337 - (618) 43,462 21,066 643 155 424 22,288 (2,433) 7,312 34 123 +4,215 +4,274 +2,056 + 3 + 245 +4J12 4 +2,596 -- 114 2,090 (3,051) 74^852 282 _ - 670 164 + 16 - 16 834 404 + 659 -_ 2 (3,051) 73,466 173 + - 546 290 20 8 + 228 +1,102 + 101 +4,027 C A P I T A L A C C O U N T S 33 Capital paid in 623 1 + 28 Surplus 598 + 24 Other capital accounts 165 f 49 + Contingent liability on acceptances purchased 44 for foreign correspondents 119 * 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 2/ Reflects $l,165milllon of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3>/ Includes assets denominated in foreign currencies and IMF gold deposited. 4/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER~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 Discounts and Federal Agency obligations Weekly changes Acceptances Holdings advances Xtfithin 15 days -6,129 140 1,585 12 +7,182 16 days to 90 days 16,946 49 2 __ __ 91 days to 1 year -8,684 9,068 --+5,586 Over 1 year to 5 years 13,238 -Over 5 years to 10 years + 708 10,943 -Over 10 years --611 Total 142 61 52,391 -1,337 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 20, 1968 Phila- CleveRichAtlanta Chicago delphia land mond (In millions of dollars) 3t. MinneLoui s apolis 4 Kansas City Dallas San Francisco Total Boston New York 10,026 625 2,816 528 835 996 502 1,740 324 161 263 295 941 F. R, notes of other banks Other cash 618 265 59 13 149 33 29 5 28 34 65 17 59 37 32 35 21 27 19 4 22 19 30 15 105 26 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 142 21 29 3 l 1 18 19 3 12 7 3 25 61 --- 61 -- --- --- --- --- --- --- -__ --- --- --- 18,210 946 4,402 924 1,415 1,342 980 3,002 660 366 741 781 2,651 -- -- -- -- -- -- -- -- -- -- -- -- -- 28,706 5,475 52,391 1 ,492 285 2 ,723 6,940 1,323 12,665 1 ,456 278 2 ,658 2,230 425 4,070 2,116 404 3,862 1 ,544 294 2 ,818 4,733 903 8,638 1 ,040 198 1 ,898 576 110 1 ,052 1 ,169 223 2 ,133 1 ,231 235 2 ,247 4,179 797 7,627 -- -- -- -- -- -- -- -- -- -- -- 52,391~ ~ .723 "127665"*"~2~.658 " 4.070 2 ,744 12,755 52,594 2 ,661 4,071 .818 2 ,836 8.638 8,657 ~T.898 1 ,901 1 .052 1 ,064 Cash items in process of collection Bank premises Other assets 1/ 12,196 114 2,090 820 3 93 2,314 10 704 773 2 102 870 5 164 938 10 104 1 ,033 19 114 1,997 17 274 613 8 64 77,903 4 ,357 18,781 4 ,100 6,007 5,993 4 ,600 12,752 2 ,958 A S S E T S Gold certificate account TOTAL ASSETS -• -- 2/ Includes assets denominated in foreign currencies and IMF gold deposited 3.862 3,863 n -- ~T.133 ~T.247 2 ,140 2 ,250 7.627 7,652 447 3 43 728 19 80 650 9 101 1,013 9 247 1 ,741 3 ,271 3 ,350 9,993 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OF NOVEMBER 20, 1968 H.4.1(c) New Total Boston York Phila- Clevedelphia land Richmond St. Atlanta Chicago MinneLouis apolis Kans as City Dallas San Francisco (In millions of dollars) L I A B I L I T I E S Federal Reserve notes 44,080 2,564 10,139 Deposits: Member bank reserves 21,066 967 5,633 U. S. Treasurer—general account 643 1 636 Foreign 155 7 1/ 51 Other 2 2/380 424 Total deposits 22,288 977 6,700 Deferred availability cash items ; 9,745 729 1,489 Other liabilities and accrued dividends 20 100 404 TOTAL LIABILITIES 4,290 76,517 18,428 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for foreign correspondents 2,525 3,589 4,035 5,429 566 1 3 2 943 1,195 3,305 * * 8 1 2 19 20 1,204 3,346 527 974 1,227 2,968 782 * ic 1 20 2 Vc 7 10 1 9 1 1,534 1,055 1,238 731 798 890 2,991 1,586 7 2 931 551 5 1 788 478 ^572 386 6 .3 952 606 21 31 30 21 66 15 9 16 18 57 4,028 5,885 5,918 4,513 12,544 2,910 1,710 3,212 3,273 9,806 40 38 9 92 87 29 22 20 6 14 3 27 26 6 36 34 7 83 79 25 . 4,600..12^152 2.958 1.741 3.271 3.350 9^993 4 3 5 7 16 1,715 1,654 5,727 | 77,903 4.357 18.781 4.100 6,007 5,993 3/ 31 6 11 6 6 1,524 1,038 33 31 11 1 1,638 1 13 55 54 13 119 743 1,520 32 32 8 1 1,629 •& 159 154 40 598 165 7,901 922 30 29 8 623 | 1 2,364 , 7 17 lVv FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 46,030 2,632 10,560 2,596 3,817 4,183 2,493 8,157 1,722 774 3,957 330 500 300 600 515 350 1,000 N 180 27 43,441 47,398 2,341 2,671 10,200 10,700 2,500 2,800 3,300 3,900 3,700 4,215 2,200 2,550 7,450 8,450 1,620 1,800 802 1/ After deducting $ 104million participations of other Federal Reserve Banks. 2:/ Includes IMF gold deposit. 3>/ After deducting $ 88million participations of other Federal Reserve Banks. 775 155 1.775 1,775 * 1.580 1,735 6.000 6,000 Less than $500,000.
@FedFRASER