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V^OfGOVfc* FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release September 19, 1968 The average of daily figures of total member bank reserves held during the week ended September 18, decreased a net of $285 million to $25,911 million. Reserve balances at the Federal Reserve Banks decreased $310 million. Because of the change in Regulation D effective September 12, required reserves and currency and coin of member banks shown for the week are based on daily average deposits and cash held in the week ending September 4. Excess reserves declined $226 million to $312 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $93 million, compared with the revised figure of $96 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $698 million in U. S. Government securities bought outright, and $229 million in member bank borrowings, and an increase of $61 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $235 million in Federal Reserve float, and decreases of $352 million in "Other" F. R. accounts (net), and $118 million in currency in circulation. Total Reserve Bank credit decreased $706 million. As of Wednesday, September 18, 1968, holdings of U. S. Government securities bought outright were $557 million lower than a week earlier, and member bank borrowings were $240 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 Special certificates 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, Sept. 18, Sept. 20, ! Sept. 18, Sept. 11, 1968 ! 1968 1968 1967 (In millions of dollars) 51,630 -698 — - 13 50 - +5,575 — ^50,395 -- 1 6 49 -- -- __ «. - 405 -229 + 299 355 2,139 54,224 10,367 6,735 +235 -706 + 385 2,285 +6,253 -2,640 4 71,326 48,567 790 208 128 465 -292 49 ,865 -704 -118 + 3 + 61 - 6 + 19 -352 +3,610 +3,344 - 697 - 154 + 2 8 - 316 +2 ,170 53 ,084 10 ,367 6 .738 70,189 48,527 800 668 125 446 - 315 50 ,251 -394 21 ,461 4 ,450 -310 +1 ,440 19 ,939 + 25 4 ,449 + 155 25,911 -285 +1,595 24,388 25,599 - 59 +1,691 25,599 312 -226 96 -1,211 1/ Reflects $1,750 million of securitie s sold, and scheduled to be bought back, under matched sale-purchase transactions On September 18, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,384 million, a decrease of $210 million for the week. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since VIednesday Sept. 18, Sept. 11, Sept. 20, 1967 1968 1968 ASSETS 10,026 -2,478 Gold certificate account 1/ 11.4.1(a) * 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 47 Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 6 240 + 557 +3,087 28,205 5,728 2/50,395 557 +2,080 - 827 +4,340 (2,472) 50,395 50,799 9,500 - 557 - 319 +1,426 113 -- (3,278) 1,934 72,687 + 53 +1,166 +4,340 +4,370 +1,062 + 4 + 542 +3,461 (806) 42,562 231 +2,762 19,939 + 103 668 125 446 + 647 4 14 + 732 + 856 20 +1,337 + 158 45 (806) 315 355 + + 39 35 49 16,462 (2,472) 21,178 7,215 (3,278) 71,322 367 -- 13 + 100 + 394 + 120 +3,376 - CAPITAL ACCOUNTS Capital paid in + 32 1 619 Surplus -+ 28 598 Other capital accounts + 25 148 172 Contingent liability on acceptances purchased for foreign correspondents. 123 3 97 * 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/ Reflects $1,750 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Figures for the statement dated September 11, reflected $1,330 million of securities sold under such transactions, 3_f Includes assets denominated in foreign currencies and IMF gold deposited, 4/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 18, 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 obi]Lgations Ace:eptances Holdings advances Weelcly changes 1,218 15 +638 348 Within 15 days -824 14,130 34 7 16 days to 90 days «--371 16,405 91 days to 1 year -- mces — -7,902 Over 1 year to 5 years «-10,141 *s Over 5 years to 10 years — --599 Over 10 years -557 50,395 Total 355 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 18, 1968 Total Boston New York Philadelphia Cleveland Richmond St. Atlanta Chicago MinneLouis apolis Kansas City San Dallas Francisco (In millionsi of doi:.ars) A S S E T S Gold certificate account 10,026 680 1,691 607 830 1,037 633 2,020 411 134 360 464 1,159 F. R. notes of other banks Other cash 806 315 72 20 180 34 54 7 48 44 85 19 82 42 44 53 28 29 34 3 26 21 36 15 117 28 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 355 11 41 1 5 3 6 190 8 40 3 12 35 49 --- 49 -- --- --- --- --- --- --- --- -» <•• --- --- -- — — — 16,462 ! 1/ 4,056 _- -- 1 75,965 849 — 1,278 — 1,209 — 881 -- 2,708 — 319 661 690 — -- — -- -- 1,183 4,031 4,640 1,012 546 111 976 1,134 1,454 2,189 2,073 295 445 421 306 942 206 2,598 3,912 3,703 2,695 8,290 1,809 -- -- -- -- t£55_ 12,416 2,598 2 ,666 12,506~ 2,599 3,912 3,917 3,703 3,706 2,695 2,701 8,290 8,480 1,809 1,817 1,016 2,025 2,028 733 3 86 — — 2,353 591 6,949 1,411 12,416 — -- 976 230 240 819 2,025 ,113 7,203 — T -- -- 2,125 7,203 7,238 T ,113 743 2 91 943 5 150 1,068 1,055 1,900 9 100 19 103 18 252 639 8 59 412 3 37 798 18 74 631 9 91 1,106 10 664 4 ,260 17,029 4,103 5,937 6,024 4,635 12,767 2,991 1,639 3,325 3 ,371 9,884 1,944 Includes assets denominated in foreign currencies and IMF gold deposited — — 1,508 -- 50,395 ~ 50,799 Cash items in process of collection 11,972 Bank premises 1 113 Other assets 17 1 1,934 TOTAL ASSETS 867 28,205 ! i ,486 302 5,728 50,395 2,655 -• -- 9 227 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 18, I9b« Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. MinneLouis apolis Kansas City Dallas San Francisco (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 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 correspondents 43,368 2,516 9,839 2,472 3,512 3,979 2,335 7,756 1,608 748 1,626 1,508 5,469 19,939 668 125 446 21,178 9,687 915 37 6 1 959 700 4,933 30 1/ 32 2/400 5,395 1,356 861 56 7 8 932 610 1,439 39 11 -1,489 787 946 85 7 11 1,049 895 1,224 55 8 1 1,288 907 3,172 61 18 2 3,253 1,493 773 52 4 1 830 494 491 20 3 1 515 337 896 69 5 2 972 654 1,186 65 7 1 1,259 512 3,103 99 17 18 3,237 942 367 74,600 19 4,194 91 16,681 18 4,032 28 5,816 27 5,950 20 4,550 60 12,562 13 2,945 8 1,608 15 3,267 16 3,295 5? 9,700 619 598 148 30 29 7 158 154 36 32 32 7 55 54 12 32 31 11 39 38 8 92 87 26 21 20 5 14 14 3 27 26 5 36 34 6 83 79 22 75,965 4,260 17,029 4,103 5,937 6,024 4,635 12,767 2,991 1,639 3,325 3,371 9,884 123 6 7 11 6 8 18 4 3 5 7 16 1,715 1,624 5,758 3/ 32 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 10,304 2,555 3,765 4,128 2,476 8,012 1,686 787 500 300 600 600 350 1,000 206 77 9,900 10,400 2,500 2,800 3,200 3,800 3,565 4,165 2,200 2,550 7,150 8,150 1,570 1,776 802 1/ After deducting $ 93 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. 3_/ After deducting $ 91 million participations of other Federal Reserve Banks. 725 155 1,775 1,775 1,530 1,685 6,000 6,000
@FedFRASER