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 June 26, 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 Jun 25, 1997 Jun 18, 1997 Jun 26, 1996 Jun 25, 1997 Reserve Bank Credit (1,2) 450,268 + 2,779 + 29,630 457,117 U.S. government securities Bought outright-system account (3) 409,750 + 2,555 + 27,256 409,719 Held under repurchase agreements 7,427 + 1,096 + 4,341 13,140 Federal agency obligations Bought outright 1,496 0 - 892 1,496 Held under repurchase agreements 457 - 202 - 290 1,400 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 69 + 59 + 46 393 Seasonal credit 295 + 74 + 68 309 Extended credit 0 0 0 0 Float -3 - 1,285 - 721 -679 Other F.R. assets 30,777 + 481 - 179 31,339 Gold stock 11,050 0 - 1 11,050 Special drawing rights certificate account 9,200 0 - 968 9,200 Treasury currency outstanding 25,343 + 14 + 831 25,343 Total factors supplying reserve funds 495,861 + 2,793 + 29,492 502,710 Currency in circulation* 451,549 - 285 + 28,230 452,855 Treasury cash holdings* 344 0 + 65 343 Deposits,other than reserve balances,with F.R.Banks Treasury 11,868 + 5,037 + 4,685 19,285 Foreign 208 + 37 + 38 468 Service-related balances and adjustments (4) 7,178 - 1 + 977 7,178 Other 338 - 35 + 6 337 Other F.R. liabilities and capital 15,194 - 4 + 1,942 15,166 Total factors, other than reserve balances, absorbing reserve funds 486,680 + 4,750 + 35,943 495,631 Reserve balances with F.R. Banks (5) 9,181 - 1,957 - 6,451 7,079 On June 25, 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 $ 634,677 million, a change of - $ 7,259 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 13,747 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 13,747 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 13,864 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 13,864 million was with foreign official and international accounts. Includes $ 397 million securities loaned--fully secured U.S. government securities. 3 Includes $ 750 million of inflation-indexed securities valued at the original face amount and $ 8 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 7,008 million and adjustments of $ 170 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 Jun 25, 1997 Jun 18, 1997 Jun 26, 1996 ASSETS Gold certificate account 11,050 0 - 1 Special drawing rights certificate account 9,200 0 - 968 Coin 496 - 15 - 41 Loans 702 + 425 + 444 Acceptances 0 0 0 Federal agency obligations Bought outright 1,496 0 - 892 Held under repurchase agreements (1) 1,400 + 434 + 1,400 U.S. government securities Bought outright--Bills 195,741 + 626 + 9,763 Notes (2) 161,062 + 1,642 + 10,960 Bonds 52,916 0 + 6,473 Total bought outright (3) 409,719 + 2,268 + 27,197 Held under repurchase agreements (1) 13,140 + 3,929 + 8,914 Total U.S. government securities 422,859 + 6,197 + 36,111 Total loans and securities 426,457 + 7,056 + 37,063 Items in process of collection (314) 5,961 - 1,221 - 201 Bank premises 1,251 + 3 + 70 Other assets (4) 30,257 + 732 + 338 TOTAL ASSETS (314) 484,672 + 6,555 + 36,260 LIABILITIES Federal Reserve notes 428,350 + 337 + 27,201 Deposits Depository institutions 15,750 - 3,560 - 5,316 U.S. Treasury--general account 19,285 + 10,235 + 11,996 Foreign--official accounts 468 + 301 + 305 Other 337 - 34 + 11 Total deposits 35,840 + 6,942 + 6,995 Deferred availability cash items (314) 5,315 - 950 - 78 Other liabilities and accrued dividends (5) 4,860 + 2 + 546 TOTAL LIABILITIES (314) 474,366 + 6,331 + 34,665 CAPITAL ACCOUNTS Capital paid in 5,049 + 157 + 911 Surplus 4,496 0 + 529 Other capital accounts 761 + 67 + 155 *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 $ 750 million of inflation-indexed securities valued at the original face amount and $ 8 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 13,864 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 397 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 $ 143 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, JUNE 25, 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 652 0 Within 15 days 26,734 + 4,669 1670 + 444 16 days to 90 50 0 16 days to 90 days 95,856 + 5,951 286 - 10 Over 90 days 0 0 91 days to 1 year 121,806 - 6,065 210 0 Over 1 year to 5 years 96,840 + 1,641 416 0 Over 5 years to 10 years 38,517 0 290 0 Over 10 years 43,105 0 25 0 Total 702 0 Total 422,859 + 6,197 2896 + 434 1 Includes $ 750 million of inflation-indexed securities valued at the original face amount and $ 8 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 JUNE 25, 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 11,050 624 3,937 350 669 965 723 1,069 401 147 286 459 1,420 Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241 Coin 496 13 19 60 24 76 55 64 25 24 37 37 60 Loans 702 5 375 2 0 0 16 58 63 114 41 6 21 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 1,496 91 484 50 103 142 100 160 60 21 43 54 188 Held under repurchase agreements(1) 1,400 0 1,400 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 195,741 11,933 63,313 6,544 13,540 18,624 13,062 20,879 7,796 2,726 5,589 7,109 24,627 Notes (2) 161,062 9,819 52,096 5,384 11,141 15,325 10,748 17,180 6,415 2,243 4,599 5,849 20,264 Bonds 52,916 3,226 17,116 1,769 3,660 5,035 3,531 5,644 2,108 737 1,511 1,922 6,658 Total bought outright(3) 409,719 24,978 132,524 13,697 28,341 38,983 27,341 43,703 16,319 5,706 11,699 14,879 51,549 Held under repurchase agreements(1) 13,140 0 13,140 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 422,859 24,978 145,664 13,697 28,341 38,983 27,341 43,703 16,319 5,706 11,699 14,879 51,549 Total loans and securities 426,457 25,074 147,923 13,749 28,444 39,126 27,457 43,920 16,441 5,841 11,783 14,940 51,759 Items in process of collection 6,276 416 862 271 168 420 728 563 220 475 388 344 1,421 Bank premises 1,251 94 153 50 114 126 75 108 30 133 55 151 159 Other assets(4) 30,257 1,284 9,144 1,425 1,841 2,330 2,385 3,312 854 580 987 1,394 4,722 Interdistrict settlement account -0 -2612 23304 -1953 -1946 -5551 -6687 -5339 -2615 -937 -1556 2508 3384 TOTAL ASSETS 484,986 25,423 188,544 14,235 29,887 38,284 25,338 44,597 15,697 6,387 12,228 20,200 64,166 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 $ 750 million of inflation-indexed securities valued at the original face amount and $ 8 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 13,864 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 397 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 $ 143 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 JUNE 25, 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 428,350 23,706 162,168 12,446 27,799 34,474 22,357 40,328 14,560 4,917 10,790 18,064 56,741 Deposits Depository institutions 15,750 671 1,925 789 944 1,676 1,254 1,966 519 735 618 1,142 3,511 U.S. Treasury--general account 19,285 0 19,285 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 468 5 357 9 9 10 13 17 4 3 5 8 28 Other 337 1 119 0 2 63 2 144 1 1 1 1 1 Total deposits 35,840 677 21,686 798 956 1,749 1,269 2,127 523 739 625 1,151 3,539 Deferred credit items 5,630 345 814 218 214 447 623 498 177 305 326 260 1,402 Other liabilities and accrued dividends (1) 4,860 286 1,552 187 316 440 337 502 198 105 169 191 577 TOTAL LIABILITIES 474,680 25,015 186,221 13,649 29,285 37,111 24,585 43,455 15,459 6,066 11,910 19,666 62,258 CAPITAL ACCOUNTS Capital paid in 5,049 192 1,095 287 289 704 320 553 108 166 138 263 932 Surplus 4,496 168 1,023 268 286 310 415 524 112 104 171 250 865 Other capital accounts 761 48 205 30 28 159 18 64 18 51 8 21 110 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 484,986 25,423 188,544 14,235 29,887 38,284 25,338 44,597 15,697 6,387 12,228 20,200 64,166 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 541,469 29,705 208,328 15,903 30,969 40,891 30,836 50,032 17,239 6,293 12,630 24,486 74,157 Less--Held by F.R. Banks 113,118 5,999 46,160 3,457 3,170 6,417 8,479 9,704 2,679 1,376 1,840 6,422 17,416 F.R. notes, net 428,350 23,706 162,168 12,446 27,799 34,474 22,357 40,328 14,560 4,917 10,790 18,064 56,741 Collateral held against F.R. notes Gold certificate account 11,050 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 408,101 Total collateral 428,350 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.