A fluid catalytic cracking catalyst made from microspheres that initially contain kaolin, a dispersible boehmite alumina and a sodium silicate or silica sol binder. The kaolin portion contains hydrous kaolin and a particular kaolin which has been calcined through its characteristic exotherm and which produces a catalyst having a novel morphology comprising a macroporous matrix and crystallized zeolite freely coating the walls of the pores of the matrix. Calcination of the hydrous kaolin to metakaolin and formation of in-situ zeolite by treatment with sodium silicate yields a catalyst containing Y-faujasite and transforms the dispersible boehmite into a transitional alumina. The catalyst can be used to crack resid or resid-containing feeds as the alumina phase formed from the dispersible boehmite passivates nickel and vanadium contaminants.