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FEDERAL Factors Affecting H.4.1 RESERVE Bank Reserves and Condition Statement of F.R. B a n k s F o r immediate release November 29, 1968. The average of daily figures of total reserves held by member banks declined $407 million (net) to $26,517 million. Required reserves dropped sharply by close to seasonal dimensions. For the second week in a row, excess reserves declined, and reached the relatively low level of $111 million. Reserves were absorbed in the latest statement week by a decline in float and a rise in currency in circulation; together these two factors absorbed $582 million reserves. This reduction in reserves was more than offset by a decline in other FR accounts (net). System Open Market operations absorbed over one-half billion dollars of reserves on a daily average basis, both through outright purchases of securities and by matched sale-purchase transactions. Member bank borrowings increased moderately; and, coupled with the further decline in excess reserves, borrowings exceeded excess reserves by $471 million, compared with the revised figure of $329 million the week before. Member bank reserves, Reserve Bank credit, and related items Averages of daily figures Week ended Change from week ended Wednesday, Nov. 27, Nov. 20, Nov.29, Nov. 27, 1968 1968 1968 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securitiesBought outright--System account Held under repurchase agreements Federal Agency obligationsHeld 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 52,945 -557 -- -- +4,598 47 53,214 2 -- 6 60 61 -- 582 + 71 + 463 1,195 2,218 55,806 10,367 6,801 72,973 -419 -905 + 670 +5,689 -2,541 + 16 +3,163 1,977 56,446 10,367 6,803 73,616 +163 + 11 + 30 + 64 - 23 -650 -406 +3,291 - 681 - 925 + 44 50,034 12 775 441 252 432 - 494 +1,226 -1,029 50,905 -491 + 84 -407 -336 - 71 +1,938 22,712 4,403 27,115 26,406 49,638 776 645 219 420 - 839 50,860 22,114 4,403 26,517 26,406 111 __ + 9 -898 79 +1,859 +2,132 - 273 1 709 NOTE: A net of $121 million of surplus reserves were eligible to be carried forward from the week ended November 20, into the week ending November 27. On November 27, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,947 million, an increase of $911 million for the week. CONSOLIDATED STATEMENT OF COkDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Nov- 27, I Nov. 20, Nov. 29, 1967 1968 I 1968 A S S E T S -2,367 Gold certificate account 1/ 10,026 H.4.1(a) * 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 2/ 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 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (583) 247 1,195 18 +1,053 - 103 +1,059 + 823 +3,537 -•-- +1,788 - 612 +4,713 42 +4,671 +5,729 +1,419 + 2 60 19,033 28,706 5,475 53,214 + 823 --. -- 53,214 54,469 (2,240) 8,553 + 823 +1,875 -1,226 114 -- 2,757 76.166 + 667 +1,298 +LLP23_ + 449 +2,917 23,837 6,576 +1,630 - 202 + 97 + 8 +1,533 - 736 401 3 (2,823) 74,725 +1,243 +3,000 -1,327 + 105 + 18 +1,796 + 796 + 100 +5,609 (2,823) (583) 43,911 22,712 441 252 432 (2,240) +5,703 C A P I T A L ACCOUNTS C a p i t a l paid i n + 33 625 »• 2 -Surplus 598 + 28 Other capital accounts + 33 + 53 218 Contingent liability on acceptances purchased for foreign correspondents 114 5 39 * 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, NOVEMBER 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 advances Acceptances Weekly changes Holdings Within 15 days 13 2,591 1,193 +1,006 16 days to 90 days - 120 16,826 2 47 --91 days to 1 year 63 9,005 --« -Over 1 year to 5 years 13,238 -. -. Over 5 years to 10 years 10,943 -Over 10 years -611 -Total 1,195 60 53,214 + 823 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 27, 1968 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. [Minne- Kansas City Louis apolis Dallas San Francisco (In millions of dollars) A S S E T S Gold certificate account 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/ 10,026 615 2,335 669 803 921 520 1,760 289 174 218 307 1,415 583 247 61 13 131 28 24 4 27 32 57 16 61 33 32 34 21 25 17 3 27 18 33 14 92 27 1,195 145 171 24 97 115 60 200 45 10 24 299 774 816 2,770 4,179 797 7,746 60 60 19,033 989 4,601 966 1,479 1,403 1,024 3,138 690 28,706 5.475 53,214 1,492 285 2,766 6,940 1,323 12,864 1,456 278 2,700 2,230 425 4,134 2,116 3,923 1,544 294 2,862 4,733 903 8,774 1,040 198 1,928 576 1,169 1,231 110 _._221... 235 1,069 2,166 2,282 53,214_ 2.766 2,911 54,469 12.864 13,095 2.700 2,724 4.134 4,231 3.923 4,038 2.862 2,922 8.774 8,974 1.928 1,973 1.069 1,074 2.166 2,176 2.282 2,306 7.746 8,045 10,793 114 2,757 654 3 126 1,844 10 875 589 2 136 773 5 225 844 10 139 916 19 156 1,811 17 371 560 8 87 432 3 57 690 19 110 714 9 139 966 9 336 78,989 4,383 18,318 4,148 6,096 6,025 4,627 12,999 2,963 1,760 3,258 3,522 10,890 Includes assets denominated in foreign currencies and IMF gold deposited 383 11.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 27, 1968 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago Minnest. Louis apolis Kansas City Dallas San Francisco 1,533 5,574 (In millions of dollLars) 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 accnled dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace,eptances purchased for forei gn correspondents 2,569 10,226 2,545 3,612 4,059 2,391 7,947 1,643 746 1,649 i 22,712 1,097 441 252 12 432 | 1 23,837 1,110 8,816 613 5,443 434 1/ 66 2/395 6,338 1,290 1,010 1,113 1,325 3,265 13 3 1,026 483 1,651 1 22 1 1,675 652 13 6 1,132 726 16 1 1,342 783 37 2 3,304 1,466 804 1 9 814 442 588 1 6 1 596 377 951 1 11 1 964 568 1,293 4,172 1 2 14 33 20 1 1,309 4,227 584 832 21 98 401 77,548 ' 4,313 17,952 19 4,073 31 5,970 29 5,946 21 4,537 64 12,781 14 2,913 9 1,728 16 3,197 62 17 3,443 10,695 44,494 * 625 598 218 30 29 11 159 154 53 32 32 11 56 54 16 33 31 15 40 38 12 93 87 38 22 20 8 14 14 4 27 26 8 78,989 4,383 18,318 4,148 6,096 6,025 4,627 12,999 2,963 1,760 3,258 114 6 3/ 29 6 10 6 7__—-li-__A_ 3 m* -, 36 34 9 83 79 33 3,522 10,890 __JL__ _ £ _ 15 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R, notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 10,643 2,618 3,833 4,198 2,507 8,197 1,723 773 500 300 600 555 350 1,000 180 27 10,400 10,900 2,500 2,800 3,300 3,900 3,700 4,255 2,200 2,550 7,450 8,450 1,620 1,800 775 802 1/ After deducting $186 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. Digitized3/ for FRASER After deducting $ 85 million participations of other Federal Reserve Banks. 1,730 1,655 5,826 155 1,775 1,775 * 1,580 1,735 6,000 6,000 Less than $500,000.
@FedFRASER