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FEDERAL **rf^g&y RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release September 5, 1968 H.4.1 The average of daily figures of total member bank reserves held during the week ended September 4, increased a net of $20 million to $25,802 million. Estimated currency and coin of member banks decreased $161 million and their reserve balances at the Federal Reserve Banks increased $181 million. Estimated required reserves decreased $28 million; and estimated excess reserves increased $48 million to $215 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $239 million, compared with the revised figure of $207 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $312 million in U. S. Government securities bought outright, and $80 million in member bank borrowings, and a decrease of $146 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $45 million in Federal Reserve float, and increases of $234 million in currency in circulation, and $50 million in "Other" F. R. accounts (net). Total Reserve Bank credit increased $346 million. As of Wednesday, September 4, 1968, holdings of U. S. Government securities bought outright were $178 million higher than a week earlier, and member bank borrowings were $92 million lower. Outright holdings of bills, notes, and bonds increased $95 million, $62 million, and $21 million, respectively. 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 (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) Averageis of daily figures Week ended Change from week ended Wednesday, Sept. 4, Sept. 6, Sept. 4, Aug. 28, 1967 1968 1968 1 1968 (In millions of dollars) 52,975 +312 52,796 +6,375 87 6 52 51 - 2 14 454 + 80 + 375 ! 1,676 55,156 10,367 6,740 72,264 - 45 +346 +347 + 266 +6,909 -2,641 + 26 +4,295 1,634 54,927 10,367 6,731 ! 72,025 48,424 804 938 140 457 101 50,866 +234 - 4 -146 + 15 + 13 + 50 +165 +3,293 - 691 + 241 + 7 14 9 +2,830 48,694 795 1,041 149 448 68 51,195 21,398 4,404 25,802 25,587 215 +181 -161 + 20 - 28 + 48 +1,466 + 411 +1,877 +1,994 - 117 1 20,830 4,668 25,498 25,763 -265 --- 445 On September 4, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,848 million, an increase of $412 million for the week and an increase of $321 million from the comparable date a year ago. CONSOLIDATED STATEMENT OF CONDITION dF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday .Change, ,$ince„ Sept. 4, Aug. 28 > Sept. 6, 1968 1967 1968 A S S E T S 10,026 "2,487 Gold certificate account _1/ * 321 15 Cash (685) •w 306 445 92 Discounts and advances Acceptances: 10 52 Bought outright Held under repurchase agreements Federal Agency obligations29 Held under repurchase agreements U. S. Government securities: Bought outright-18,863 +4,936 Bills 95 Certificates +2,080 28,205 62 + Notes 21 - 827 Bonds 5,728 + 52,796 + 178 +6,189 Total bought outright Held under repurchase agreements - 425 52,796 +5,764 Total U. S. Government securities + 178 +6,031 Total loans and securities 53,293 + 86 ,891) 7,377 + 784 + 98 Cash items in process of collection ( -+ 3 Bank premises IIJ Other assets 2/ + 50 + 306 1.696 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,576) 727826 44,622 4- 222 H.4.1(a) 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 C A P I T A L C a p i t a l paid i n Surplus (685) 42,738 + 324 +2,707 20,830 1,041 + + 230 42 17 + + 149 448 22,468 5,743 394 (2,57*0 71,343 (1,891) 11 - 182 + 13 + 18 173 47 930 15 9 + 953 + 718 + 127 +4,505 ACCOUNTS 618 598 267 + + + 30 28 59 Other capital accounts 49 Contingent liability or acceptances purchased 138 for foreign correspondents 11 105 * 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." 2j Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 4, 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 -447 2,205 Within 15 days 440 16 +444 14,997 36 16 days to 90 days 5 +113 -16,952 -91 days to 1 year __ + 23 -7,902 Over 1 year to 5 years --+ 34 10,141 Over 5 years to 10 years --+ 11 Over 10 years 599 +178 52,796 Total 52 445 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 4, 1968 Total Boston New York Phila- Clevede!Lphia land Richmond St. Atlanta Chicago MinneLouis apolis Kansas City San Dallas Francisco (In millions of dollars) A S S E T S Gold certificate account 10,026 517 1,935 567 685 321 64 19 128 35 45 5 Discounts and advances 234 445 17 Acceptances: -Bought outright 52 52 Held under repurchase agreements --" Federal Agency obligations-Held under repurchase agreements 1 U. S, Government securities: Bought outright-Bills 18,863 994 4,647 — -Certificates -Notes 6,949 28,205 1,486 Bonds 1,411 5,728 302 Total bought outright ,782 13,007 52,796 -.« •• -Held under repurchase agreements Total U. S, Government securities 52.796 ~2~.782 13.007 Total loans and securities j 53,293 2 ,799 13,293 F. R. notes of other banks Othew cash ~T Cash items in process of collection Bank premises Other assets 17 TOTAL ASSETS 1/ 848 991 584 2,252 377 122 384 291 1,158 46 46 66 19 89 43 39 55 25 30 37 4 26 21 33 16 87 28 1 26 4 10 67 17 34 14 21 --- --- --- --- --- -. -- -_ -- „ «. „— __ -- «. «. ~ >m 973 1,464 1,386 1,009 3,103 677 365 758 791 -- -- -- -- -- -- -.- «. «. 2,189 2,073 1,508 4,640 1,012 445 421 306 942 206 546 111 1,134 230 1,183 240 4,098 3,880 2,823 8,685 1,895 -- -- -- -- -- 2 ,723 4.098 4,124 3.880 3,884 2.823 2,833 8.685 8,752 1.895 1,912 1,454 295 "T,722 -~T.722 T ,122 "T,022 ,214 .-- T _ « T .022 ~T.122 "T.214 1,056 2 136 2 ,235 2,696 4,031 819 7,546 — mm 7.546 7,546 9,268 533 1,577 590 713 759 781 1,544 499 311 616 580 113 3 73 10 603 2 82 5 129 9 85 19 88 18 217 8 51 3 33 18 62 9 77 765 S 196 4,008 17,581 4.,014 5,911 5,813 4,437 12,877 2,902 1 ,566 3,263 3,241 9,789 1.696 75,402 I Includes assets denominated in foreign currencies and IMF gold deposited. — H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 4, 1968 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) L I A B I L I T I E S Federal Reserve notes Deposits: Membeit 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 43,423 2,510 9,879 2,476 3,502 3,986 2,355 7,733 1,608 746 1,629 1,504 5,495 20,830 1,041 149 443 ^22,468 7,634 747 60 7 1 815 591 5,480 115 1/ 49 2/393 6,03? 1,186 875 64 7 14 96C 482 1,494 105 12 1 1,612 637 955 110 7 13 1,085 631 1,201 89 8 2 1,300 670 3,465 151 20 2 3,638 1,217 761 86 4 1 852 377 486 41 3 530 249 959 92 6 2 1,059 497 1,117 56 8 1 1,182 458 3,290 72 18 18 3,398 639 394 73,919 20 3,936 99 17,201 19 3,937 30 5,781 29 5,731 21 4,346 65 12,653 14 2,851 8 1,533 16 3,201 17 3,161 56 9,588 618 598 267 30 29 13 158 154 68 32 32 13 55 54 21 32 31 19 39 38 14 92 87 45 21 20 14 14 5 27 26 9 35 34 11 83 79 39 75,402 4,008 17,581 4,014 5,911 5,813 4,437 12,877 2,902 1,566 3,263 3 J 241 9,789 138 7 3/ 36 7 12 7 9 20 5 3 6 1,709 8 18 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 1/ 2/ 3/ 45,214 2,596 10,218 2,553 3,765 4,110 2,474 7,972 1,689 787 4,118 330 500 300 600 600 350 1,000 206 77 42,291 2,301 9,900 2,500 3.200 3,540 2,200 7.150 ..1,570, 46,409 2,631 10,400 2,800 3,800 4,140 2,550 8,150 1,776 After deducting $100 million participations of other Federal Reserve Banks, Includes IMF gold deposit. After deducting $102 million participations of other Federal Reserve Banks, # 1,622 5,719 155 725. . 1,725 1,480 6.000 802 1,635 6,000 1*725
@FedFRASER