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 September 18, 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 Sep 17, 1997 Sep 10, 1997 Sep 18, 1996 Sep 17, 1997 Reserve Bank Credit (1,2) 451,587 - 1,533 + 25,585 452,774 U.S. government securities Bought outright-system account (3) 410,918 + 1,051 + 24,002 411,268 Held under repurchase agreements 7,608 - 2,070 + 3,594 8,925 Federal agency obligations Bought outright 925 - 30 - 1,386 925 Held under repurchase agreements 560 - 1,258 + 324 916 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 84 + 22 + 68 29 Seasonal credit 374 + 2 + 63 384 Extended credit 0 0 0 0 Float 732 + 150 + 183 -265 Other F.R. assets 30,386 + 601 - 1,262 30,593 Gold stock 11,051 0 + 1 11,050 Special drawing rights certificate account 9,200 0 - 518 9,200 Treasury currency outstanding 25,489 + 14 + 733 25,489 Total factors supplying reserve funds 497,327 - 1,519 + 25,801 498,514 Currency in circulation* 458,654 - 1,444 + 26,924 458,736 Treasury cash holdings* 260 0 - 24 263 Deposits,other than reserve balances,with F.R.Banks Treasury 6,807 + 2,095 + 1,053 10,987 Foreign 167 - 7 - 6 159 Service-related balances and adjustments (4) 7,027 + 27 + 739 7,027 Other 362 + 25 - 4 373 Other F.R. liabilities and capital 15,904 - 150 + 1,845 15,643 Total factors, other than reserve balances, absorbing reserve funds 489,181 + 545 + 30,528 493,187 Reserve balances with F.R. Banks (5) 8,146 - 2,063 - 4,727 5,327 On September 17, 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 $ 641,530 million, a change of - $ 2,610 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 15,160 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 15,160 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 14,810 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 14,810 million was with foreign official and international accounts. Includes $ 235 million securities loaned--fully secured U.S. government securities. 3 Includes $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 10 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,809 million and adjustments of $ 218 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 Sep 17, 1997 Sep 10, 1997 Sep 18, 1996 ASSETS Gold certificate account 11,050 0 + 1 Special drawing rights certificate account 9,200 0 - 518 Coin 506 + 19 - 68 Loans 413 + 45 + 61 Acceptances 0 0 0 Federal agency obligations Bought outright 925 0 - 1,386 Held under repurchase agreements (1) 916 - 1,592 + 708 U.S. government securities Bought outright--Bills 194,794 - 233 + 8,288 Notes (2) 161,482 + 1,687 + 9,091 Bonds 54,991 0 + 7,123 Total bought outright (3) 411,268 + 1,454 + 24,501 Held under repurchase agreements (1) 8,925 - 3,593 + 4,015 Total U.S. government securities 420,193 - 2,139 + 28,516 Total loans and securities 422,447 - 3,686 + 27,899 Items in process of collection (539) 6,801 - 123 + 69 Bank premises 1,267 + 3 + 62 Other assets (4) 29,305 + 286 - 1,430 TOTAL ASSETS (539) 480,576 - 3,503 + 26,014 LIABILITIES Federal Reserve notes 434,015 - 1,544 + 26,358 Deposits Depository institutions 12,978 - 7,351 - 5,630 U.S. Treasury--general account 10,987 + 5,429 + 2,772 Foreign--official accounts 159 + 3 - 7 Other 373 + 29 + 2 Total deposits 24,496 - 1,890 - 2,863 Deferred availability cash items (539) 6,422 + 118 + 687 Other liabilities and accrued dividends (5) 4,715 - 213 + 442 TOTAL LIABILITIES (539) 469,647 - 3,530 + 24,625 CAPITAL ACCOUNTS Capital paid in 5,212 - 1 + 669 Surplus 4,496 0 + 529 Other capital accounts 1,220 + 29 + 192 *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 $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 10 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 14,810 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 235 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 $ 138 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, SEPTEMBER 17, 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 344 0 Within 15 days 23,047 - 1,031 976 - 1532 16 days to 90 69 0 16 days to 90 days 90,361 + 3,238 46 - 60 Over 90 days 0 0 91 days to 1 year 132,971 - 5,388 202 0 Over 1 year to 5 years 91,415 + 1,042 338 0 Over 5 years to 10 years 37,657 0 255 0 Over 10 years 44,741 0 25 0 Total 413 0 Total 420,193 - 2,139 1841 - 1592 1 Includes $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 10 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 SEPTEMBER 17, 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 506 14 20 53 32 72 66 61 22 19 34 50 63 Loans 413 0 0 3 0 20 11 66 90 153 60 5 5 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 925 56 299 31 64 88 62 99 37 13 26 34 116 Held under repurchase agreements(1) 916 0 916 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 194,794 11,875 63,006 6,512 13,474 18,534 12,999 20,778 7,758 2,713 5,562 7,074 24,508 Notes (2) 161,482 9,844 52,232 5,398 11,170 15,365 10,776 17,224 6,432 2,249 4,611 5,864 20,317 Bonds 54,991 3,352 17,787 1,838 3,804 5,232 3,670 5,866 2,190 766 1,570 1,997 6,919 Total bought outright(3) 411,268 25,072 133,025 13,749 28,448 39,131 27,444 43,868 16,380 5,728 11,743 14,936 51,744 Held under repurchase agreements(1) 8,925 0 8,925 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 420,193 25,072 141,950 13,749 28,448 39,131 27,444 43,868 16,380 5,728 11,743 14,936 51,744 Total loans and securities 422,447 25,128 143,165 13,783 28,512 39,239 27,517 44,032 16,507 5,893 11,830 14,975 51,866 Items in process of collection 7,339 436 944 265 364 539 625 741 373 624 427 412 1,591 Bank premises 1,267 94 153 50 122 126 77 108 31 141 55 151 159 Other assets(4) 29,305 1,248 8,864 1,377 1,788 2,261 2,312 3,199 822 564 956 1,347 4,567 Interdistrict settlement account -0 -3217 23100 -2969 -1919 -6779 -1747 -3132 -2405 -2079 -444 3396 -1806 TOTAL ASSETS 481,114 24,857 183,385 13,191 30,142 37,214 30,176 46,978 16,091 5,432 13,390 21,156 59,101 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 $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 10 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 14,810 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 235 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 $ 138 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 SEPTEMBER 17, 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 434,015 23,064 165,764 11,598 28,150 33,249 27,017 42,584 14,905 4,107 11,795 19,025 52,758 Deposits Depository institutions 12,978 708 1,833 608 583 1,167 1,320 2,050 502 250 738 1,048 2,171 U.S. Treasury--general account 10,987 0 10,987 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 159 5 48 9 9 10 13 17 4 3 5 8 28 Other 373 0 108 1 3 112 1 141 0 1 4 0 1 Total deposits 24,496 713 12,975 617 596 1,288 1,335 2,208 506 255 747 1,057 2,199 Deferred credit items 6,960 404 837 222 346 613 747 619 258 587 378 350 1,600 Other liabilities and accrued dividends (1) 4,715 282 1,469 183 312 433 330 493 196 100 166 188 563 TOTAL LIABILITIES 470,186 24,464 181,044 12,619 29,404 35,583 29,429 45,904 15,866 5,048 13,086 20,619 57,119 CAPITAL ACCOUNTS Capital paid in 5,212 186 1,100 281 356 808 311 512 105 196 124 264 969 Surplus 4,496 168 1,023 268 286 310 415 524 112 104 171 250 865 Other capital accounts 1,220 41 218 23 96 512 21 38 9 84 9 23 148 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 481,114 24,857 183,385 13,191 30,142 37,214 30,176 46,978 16,091 5,432 13,390 21,156 59,101 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 547,679 29,602 206,900 15,277 32,849 40,256 36,186 50,868 17,390 5,889 14,213 26,014 72,234 Less--Held by F.R. Banks 113,664 6,538 41,137 3,679 4,699 7,008 9,169 8,284 2,485 1,782 2,418 6,989 19,476 F.R. notes, net 434,015 23,064 165,764 11,598 28,150 33,249 27,017 42,584 14,905 4,107 11,795 19,025 52,758 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 413,765 Total collateral 434,015 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.