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•iiSJ8& FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4;I* For immediate release October 3, 1968 The average of daily figures of total member bank reserves held during the week ended October 2, increased $519 million to $26,349 million. Required reserves also increased reflecting the usual mid-September rise in deposits during the tax payment period. (Under revised Regulation D required reserves are based on average deposits held two weeks earlier.) In the latest week, excess reserves rose to $349 million, well above the unusually low level of the previous period but not significantly different from the average of recent weeks. The major factors absorbing reserves were a seasonal decline in float and a continuation of the rebuilding of Treasury deposits with F.R. Banks begun the week before. The System provided reserves by purchasing around one billion dollars of U. S. Government securities on an outright basis; some reserves were also provided through repurchase agreements. Member bank borrowings at the Federal Reserve Banks increased, on average, in the current statement week to a level of $540 million; borrowings exceeded excess reserves by $191 million, compared with the revised figure of $303 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 AcceptancesBought outright Held under repurchase agreements Discounts and advancesMember 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, Oct. 2, Oct. 4, Sept. 25, Oct. 2, 1968 1967 1968 1968 (In millions of dollars) +5,853 + 63 53,153 4 - 101 54 5 540 + 65 + 396 314 1,778 55,266 10,367 6.744 72,377 -413 +706 + 283 +6,493 -2,639 7 +3,847 1,930 55,451 10,367 6,747 72,565 + 36 +372 +3,191 - 688 + 335 + 20 28 - 311 +2,520 48,475 789 1,178 170 470 -263 50,819 +336 +183 +519 +342 +177 +1,328 + 379 +1,707 +1,771 64 21,746 4,608 26,354 26,000 354 52,829 63 +985 + 63 + 49 5 48,302 795 1,201 145 449 -257 50,636 21,741 4,608 26,349 26,000 349 1 -- + -- + 2 +708 - 23 - 3 +335 + 22 + 4 -- NOTE: $60 million, (net) of surplus re serves were eligible to be carried forward from the week ended September 25, into the week ending October 2. On October 2, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,692 million, an increase of $53 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Oct. 2, Sept, 25, Oct. 4, 1968 1967 1968 ASSETS Gold c e r t i f i c a t e 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 2/ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS -2,483 10,026 (854) 312 314 1 •1,251 + 44 176 54 134 19,108 + 636 44,608 28,312 5.733 53,153 + 107 +2,114 - 888 +5,834 53,153 53,521 (2,218) 8,685 + 748 115 2,009 (3,072) 74,668 + 5 + 748 + 523 2 + + 52 + 78 +5,834 +5,876 +1,207 + 4 + 560 +5,120 4- 104 +2,614 _ + + + - 498 -'•/•' 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 (854) 42,488 21,746 1,178 170 470 (2) (2) 23,564 6,755 398 (3,072) 73,205 686 + 151 + 36 19 + - 480 + 382 + 24 + 30 889 653 36 8 +1,570 + 708 + 119 +5,011 A C C O U N T S C A P I T A L Capital paid in 620 r 1 + 31 Surplus 598 — + 28 Other capital accounts 245 + 4 7 + 5 0 Contingent liability on acceptances purchased for foreign correspondents 123 2 75 * 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, OCTOBER 2, 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 A*»ency obligations Weekly changes Holdings Acceptances advanceiS -241 2,185 15 312 Within 15 days +615 15,352 16 days to 90 days 39 2 -. -17,201 +601 91 days to 1 year .-. -277 7,625 Over 1 year to 5 ye ars -• . . . 10,186 + 45 Over 5 years to 10 years -+ 5 -604 Over 10 years 53,153 +748 54 314 Total STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 2, 1968 H.4.1(b) Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. MinneLouis apolis Kansas City Dallas San Fran_ci.sc.o 1 (In millions of dollars) A S S E T S Gold certificate account 10,026 614 2,876 534 747 912 463 1,596 340 148 287 307 1,202 F. R. notes of other banks Other cash 854 312 82 20 217 34 56 8 53 42 77 19 76 42 42 50 28 30 36 3 28 20 37 15 122 29 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 314 28 16 5 15 18 38 129 13 11 4 15 22 54 --- 54 -- -— --- --- --- --- --- --- --- --- --- 993 4,594 981 1,474 1,428 1,041 3,152 684 384 792 824 2,761 -- -- -- -- -- -- -- -- -- -- -- -- 1 ,473 28,312 298 5,733 ! 2 ,764 53,153 6,808 1,379 12,781 1,453 294 2,728 2,184 442 4,100 2,115 428 3,971 1,543 313 2,897 4,669 945 8,766 1,013 205 1,902 570 115 1 ,069 1,174 238 2,204 1 ,220 247 2 ,291 4,090 829 7,680 Cash items in process of collection Bank premises Other assets 1/ TOTAL ASSETS 1/ --- !19,108 ! -- -- -- -- -- -- -- -- -- -- -- -- 53.153 ! 2,764 53,521 , 2 ,792 12,781 12,851 2,728 2,733 4,100 4,115 3,971 3,989 2,897 2,935 8,766 8,895 1,902 1,915 1 ,069 1 ,080 2,204 2,208 2 ,291 2 ,306 7,680 7,702 10,903 115 2,009 674 3 88 1,834 10 686 627 2 96 847 5 154 919 10 104 910 19 107 1,825 18 265 588 8 61 371 3 39 702 19 77 604 9 94 1,002 9 238 77,740 4 ,273 18,508 4,056 5,963 6,030 4,552 12,691 2,970 1 ,680 3,341 3 ,372 10,304 -- Includes assets denominated in foreign currencies and IMF gold deposited H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 9, 1968 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas (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 forei-gn ._._c9?:respondents San Francisco 43,548 2,520 9,910 2,473 3,525 3,999 2,349 7,784 1,609 747 1,637 1,519 5,476 20,525 1,295 112 481 22,413 8,090 885 50 5 1 941 593 5,525 168 1/ 30 2/432 6,155 1,178 939 99 6 1 1,045 498 1,424 114 10 1,171 80 7 1 1,259 741 3,036 165 16 1 3,218 1,298 740 79 4 549 67 3 * -- 1,548 628 967 134 6 13 1,120 700 823 401 619 304 917 157 5 2 1,081 516 1,126 83 6 2 1,217 446 3,246 99 14 28 3,387 787 386 74,437 20 4,074 93 17,336 20 4,036 30 5,731 28 21 ^,370 5,847 ' 63 12,36^ 14 2,847 9 1,679 16 3,250 17 3,199 55 <9,705 621 598 297 30 29 15 158 154 73 32 32 15 55 54 23 92 87 52 22 20 10 14 14 6 27 26 11 36 34 12 83 79 43 75.953 4.148 ,17,721, 4.115 5.363 121 6 3/ 31 6 -- 32 31 21 40 38 16 5.931 <fr.464 12,594 11 6 8 18 .2,8.99 _0*213 4 3.314 .3^28J !h±lQ 3 5 7 16 1,727 1,624 5,720 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F, R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 2,631 10,380 2,550 3,757 4,153 2,479 8,005 1,685 780 500 300 600 600 350 1,000 206 77 10,000 10,500 2.500 2,800 3.300 3,900 3.600 4,200 2.200 2,550 7.150 8,150 1.570 1,776 725 802 1/ After deducting $ 82 million participations of other Federal Reserve Banks, 2./ Includes IMF gold deposit. 3/ After deducting $ 90 million participations of other Federal Reserve Banks. 155 1.775 1.530 6.000 1,775 1,685 6,000 * Less than $500,000.
@FedFRASER