FEDERAL RESERVE These data are scheduled for release each Thursday. The exact time of each release will be announced, when the information is available, on (202) 452-3206. H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of F.R. Banks February 20, 1997 Millions of dollars Averages of daily figures Reserve balances of depository institutions at Week ended Change from week ended Wednesday F.R. Banks, Reserve Bank credit, and related items Feb 19, 1997 Feb 12, 1997 Feb 21, 1996 Feb 19, 1997 Reserve Bank Credit (1,2) 434,448 + 1,912 + 25,496 435,331 U.S. government securities Bought outright-system account (3) 391,882 + 215 + 16,704 393,208 Held under repurchase agreements 7,011 + 2,334 + 7,011 8,390 Federal agency obligations Bought outright 2,038 0 - 596 2,038 Held under repurchase agreements 1,787 - 784 + 1,787 564 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 17 - 2 + 9 8 Seasonal credit 22 + 4 + 15 23 Extended credit 0 0 0 0 Float 462 + 170 - 920 1,533 Other F.R. assets 31,228 - 27 + 1,486 29,568 Gold stock 11,051 + 2 - 2 11,051 Special drawing rights certificate account 9,400 0 - 768 9,400 Treasury currency outstanding 25,079 + 14 + 921 25,079 Total factors supplying reserve funds 479,978 + 1,928 + 25,646 480,861 Currency in circulation* 442,177 + 2,035 + 28,858 442,721 Treasury cash holdings* 262 + 1 - 17 264 Deposits,other than reserve balances,with F.R.Banks Treasury 5,002 + 174 - 135 5,571 Foreign 165 - 2 - 55 164 Service-related balances and adjustments (4) 7,043 - 231 + 1,259 7,043 Other 357 - 34 - 36 329 Other F.R. liabilities and capital 14,273 + 300 + 1,494 14,171 Total factors, other than reserve balances, absorbing reserve funds 469,279 + 2,243 + 31,369 470,262 Reserve balances with F.R. Banks (5) 10,699 - 315 - 5,722 10,599 On February 19, 1997, the face amount of marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts was $ 630,961 million, a change of + $ 5,111 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 13,446 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 13,446 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 12,924 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 12,924 million was with foreign official and international accounts. Includes $ 90 million securities loaned--fully secured U.S. government securities. 3 Includes $ 350 million of inflation-indexed securities valued at the original face amount and $ 0 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,787 million and adjustments of $ 256 million to compensate for float. 5 Excludes required clearing balances and adjustments to compensate for float. * Estimated (Treasury's figures). Components may not add to totals due to rounding. Worksheet for H.4.1 (a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS Millions of Dollars Change Since * Wednesday Wednesday Wednesday Feb 19, 1997 Feb 12, 1997 Feb 21, 1996 ASSETS Gold certificate account 11,051 + 1 - 2 Special drawing rights certificate account 9,400 0 - 768 Coin 730 + 8 + 180 Loans 31 0 + 19 Acceptances 0 0 0 Federal agency obligations Bought outright 2,038 0 - 596 Held under repurchase agreements (1) 564 - 2,535 + 564 U.S. government securities Bought outright--Bills 192,079 - 139 + 10,227 Notes (2) 151,340 + 675 + 2,455 Bonds 49,789 + 450 + 4,820 Total bought outright (3) 393,208 + 985 + 17,502 Held under repurchase agreements (1) 8,390 + 25 + 8,390 Total U.S. government securities 401,598 + 1,010 + 25,892 Total loans and securities 404,230 - 1,525 + 25,879 Items in process of collection (490) 10,970 + 4,859 - 2,231 Bank premises 1,243 0 + 101 Other assets (4) 28,369 - 2,079 - 354 TOTAL ASSETS (490) 465,993 + 1,263 + 22,805 LIABILITIES Federal Reserve notes 418,636 + 1,090 + 27,850 Deposits Depository institutions 18,135 - 3,654 - 7,561 U.S. Treasury--general account 5,571 + 436 + 379 Foreign--official accounts 164 - 17 - 130 Other 329 - 55 - 39 Total deposits 24,199 - 3,290 - 7,352 Deferred availability cash items (490) 8,987 + 3,421 + 778 Other liabilities and accrued dividends (5) 4,601 - 121 + 409 TOTAL LIABILITIES (490) 456,423 + 1,099 + 21,685 CAPITAL ACCOUNTS Capital paid in 4,704 + 2 + 668 Surplus 4,445 + 72 + 506 Other capital accounts 421 + 91 - 54 *Figures in parentheses are the eliminations made in the consolidation process. 1 Does not include U.S. government and federal agency securities resold under matched sale-purchase transactions to foreign official and international accounts of which $ 0 million was outstanding at the end of the latest statement week. 2 Includes $ 350 million of inflation-indexed securities valued at the original face amount and $ 0 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 12,924 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 90 million securities loaned--fully secured by U.S. government securities. 4 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of $ 150 million in Treasury bills maturing within 90 days. 5 Includes exchange-translation account reflecting the monthly revaluation at market exchange rates of foreign exchange commitments. Components may not add to totals due to rounding. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 19, 1997 Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements. Millions of dollars U.S. government Federal agency Loans Acceptances securities (1) obligations Weekly Weekly Holdings changes Holdings changes Within 15 day 31 0 Within 15 days 22,495 + 4,330 911 - 2215 16 days to 90 0 0 16 days to 90 days 88,839 - 1,791 455 - 320 Over 90 days 0 0 91 days to 1 year 122,057 - 101 245 0 Over 1 year to 5 years 91,419 - 2,258 510 0 Over 5 years to 10 years 35,909 + 1,777 457 0 Over 10 years 40,880 - 946 25 0 Total 31 0 Total 401,598 + 1,010 2602 - 2535 1 Includes $ 350 million of inflation-indexed securities valued at the original face amount and $ 0 million of compensation that adjusts for the effects of inflation on the principal of such securities. Components may not add to totals due to rounding. H.4.1 (b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 19, 1997 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco ASSETS Gold certificate account 11,051 661 4,052 423 624 919 769 1,140 474 168 321 433 1,067 Special drawing rights certif. acct. 9,400 541 3,272 289 586 809 615 920 348 125 252 375 1,268 Coin 730 22 35 56 35 129 96 85 37 25 58 63 88 Loans 31 7 0 0 4 0 2 3 4 6 5 0 0 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 2,038 120 758 79 120 169 136 221 95 31 64 73 173 Held under repurchase agreements(1) 564 0 564 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 192,079 11,302 71,433 7,434 11,290 15,928 12,819 20,816 8,998 2,897 6,016 6,878 16,268 Notes (2) 151,340 8,905 56,283 5,857 8,895 12,550 10,100 16,401 7,090 2,282 4,740 5,419 12,818 Bonds 49,789 2,929 18,516 1,927 2,926 4,129 3,323 5,396 2,332 751 1,560 1,783 4,217 Total bought outright(3) 393,208 23,136 146,232 15,218 23,111 32,606 26,241 42,613 18,420 5,930 12,316 14,080 33,303 Held under repurchase agreements(1) 8,390 0 8,390 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 401,598 23,136 154,622 15,218 23,111 32,606 26,241 42,613 18,420 5,930 12,316 14,080 33,303 Total loans and securities 404,230 23,263 155,944 15,297 23,235 32,775 26,378 42,837 18,520 5,967 12,385 14,153 33,476 Items in process of collection 11,460 600 1,470 496 732 1,032 1,423 970 593 764 624 605 2,150 Bank premises 1,243 95 151 50 111 128 80 110 31 118 56 154 160 Other assets(4) 28,369 1,160 8,807 1,408 1,635 2,096 2,255 3,132 822 559 961 1,329 4,204 Interdistrict settlement account 0 -76 -16083 -3502 3729 3024 -2211 -1633 -3272 -1187 -1458 3961 18708 TOTAL ASSETS 466,483 26,265 157,647 14,517 30,688 40,912 29,407 47,561 17,553 6,538 13,200 21,074 61,121 1 Does not include U.S. government and federal agency securities resold under matched sale-purchase transactions to foreign official and international accounts, of which $ 0 was outstanding at the end of the latest statement week. 2 Includes $ 350 million of inflation-indexed securities valued at the original face amount and $ 0 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 12,924 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 90 million securities loaned--fully secured by U.S. government securities. 4 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of $ 150 million in Treasury bills maturing within 90 days. Components may not add to totals due to rounding. H.4.1 (c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 19, 1997 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco LIABILITIES Federal Reserve notes 418,636 24,001 143,274 12,558 28,536 37,404 25,090 42,753 16,176 5,142 11,538 18,235 53,929 Deposits Depository institutions 18,135 1,037 3,531 838 872 1,594 2,052 2,191 569 389 582 1,584 2,896 U.S. Treasury--general account 5,571 0 5,571 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 164 5 53 9 9 10 13 17 4 3 5 8 28 Other 329 0 111 1 2 48 8 152 0 1 1 1 2 Total deposits 24,199 1,043 9,266 848 883 1,652 2,073 2,360 572 393 589 1,593 2,925 Deferred credit items 9,477 563 1,207 367 420 834 991 840 339 688 534 556 2,138 Other liabilities and accrued dividends (1) 4,601 273 1,593 200 268 377 324 489 219 102 176 181 401 TOTAL LIABILITIES 456,912 25,880 155,340 13,973 30,107 40,266 28,479 46,441 17,306 6,325 12,837 20,565 59,393 CAPITAL ACCOUNTS Capital paid in 4,704 182 1,077 274 282 312 461 542 115 107 178 258 916 Surplus 4,445 168 1,023 268 286 310 415 524 112 105 171 252 812 Other capital accounts 421 35 207 2 13 23 52 53 20 1 15 0 0 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 466,483 26,265 157,647 14,517 30,688 40,912 29,407 47,561 17,553 6,538 13,200 21,074 61,121 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 523,596 29,937 185,337 15,643 32,157 43,926 33,012 50,556 18,885 6,815 13,704 23,850 69,774 Less--Held by F.R. Banks 104,961 5,936 42,063 3,085 3,621 6,522 7,922 7,803 2,709 1,673 2,166 5,615 15,846 F.R. notes, net 418,636 24,001 143,274 12,558 28,536 37,404 25,090 42,753 16,176 5,142 11,538 18,235 53,929 Collateral held against F.R. notes Gold certificate account 11,051 Special drawing rights certificate account 9,400 Other eligible assets 0 U.S. govt. and agency securities 398,185 Total collateral 418,636 1 Includes exchange translation account reflecting the monthly revaluation at market exchange rates of foreign exchange commitments. Components may not add to totals due to rounding.