Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page

Release Date: October 29, 1998

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FEDERAL RESERVE
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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
                                                                                           October 29, 1998
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     Oct 28, 1998 Oct 21, 1998 Oct 29, 1997 Oct 28, 1998

Reserve Bank Credit  (1,2)                                  488,266    -   2,571    +  34,741      489,154
  U.S. government securities			        		      		     		
    Bought outright-system account (3)                      447,209    -      80    +  32,368      447,966
    Held under repurchase agreements                          2,025    -   2,071    -   1,659        2,279
  Federal agency obligations			        		      		     		
    Bought outright                                             388            0    -     328          388
    Held under repurchase agreements                          3,457    -     958    +   2,144        3,440
  Acceptances                                                     0            0            0            0
  Loans to depository institutions

    Adjustment credit                                            13    +       9    +       3            1
    Seasonal credit                                              91    -       8    -      99           83
    Extended credit                                               0            0            0            0
   Float                                                        358    +     535    -     212          193
   Other F.R. assets                                         34,725    +       2    +   2,524       34,804
Gold stock                                                   11,040    -       4    -      11       11,041
Special drawing rights certificate account                    9,200            0            0        9,200
Treasury currency outstanding                                26,028    +      14    +     462       26,028
        Total factors supplying reserve funds               534,534    -   2,561    +  35,192      535,422
						        		      		     		
Currency in circulation*                                    496,594    -     573    +  35,982      498,016
Treasury cash holdings*                                          90    -       2    -     148           87
Deposits,other than reserve balances,with F.R.Banks     		      		     		
  Treasury                                                    5,326    +       4    -     542        6,382
  Foreign                                                       206    -       3    +      40          213
  Service-related balances and adjustments (4)                6,866    -      88    -      41        6,866
  Other                                                         424    +      17    +      41          467
Other F.R. liabilities and capital                           17,188    -      31    +   1,137       16,927
        Total factors, other than reserve balances,     		      		     		
        absorbing reserve funds                             526,695    -     675    +  36,468      528,958

Reserve balances with F.R. Banks  (5)                         7,839    -   1,887    -   1,276        6,464
						       		      		     		
On   October 28, 1998, the face amount of marketable U.S. government securities held in custody by the
Federal Reserve Banks for foreign official and international accounts was 576,334 million, a change of
 +$ 516 million for the week.  The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1  Net of $ 19,348 million daily average, matched sale-purchase transactions outstanding during the
   latest statement week, of which a net of $ 19,348 million was with foreign official and international
   accounts.  Includes securities loaned--fully secured by U.S. government securities.
2  Net of $ 19,121 million matched sale-purchase transactions outstanding at the end of the latest
   statement week, of which a net of $ 19,121 million was with foreign official and international
   accounts.  Includes $ 240 million securities loaned--fully secured U.S. government securities.
3  Includes $ 3,250 million of inflation-indexed securities valued at the original face amount and
   $ 59 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
4  Consists of required clearing balances of $ 6,686 million and adjustments of $ 180 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
                                                           Oct 28, 1998     Oct 21, 1998     Oct 29, 1997
                ASSETS
Gold certificate account                                        11,041        -       3        -      10
Special drawing rights certificate account                       9,200                0                0
Coin                                                               458        +      45        -      60
					
Loans                                                               84        -      11        -     101
Acceptances                                                          0                0                0
Federal agency obligations		
  Bought outright                                                  388                0        -     323
  Held under repurchase agreements (1)                           3,440        -   2,048        +   1,596
U.S. government securities		
  Bought outright--Bills                                       196,578        -     808        +   1,617
                   Notes (2)                                   184,333        +     742        +  21,257
                   Bonds (3)                                    67,055                0        +  10,996
    Total bought outright (4)                                  447,966        -      66        +  33,870
  Held under repurchase agreements (1)                           2,279        -   1,836        -   2,196
     Total U.S. government securities                          450,245        -   1,902        +  31,674
       Total loans and securities                              454,157        -   3,961        +  32,846
					
Items in process of collection                      (487)        6,398        -     567        +     397
Bank premises                                                    1,295        -       2        +      22
Other assets (5)                                                33,601        +     422        +   2,122
                TOTAL ASSETS                        (487)      516,148        -   4,065        +  35,317
					
                LIABILITIES
Federal Reserve notes                                          472,533        +     472        +  35,196
Deposits		 		
  Depository institutions                                       13,385        -   5,388        -   3,001
  U.S. Treasury--general account                                 6,382        +   1,541        +   1,291
  Foreign--official accounts                                       213        +      36        +      22
    Other                                                          467        +      69        +      30
      Total deposits                                            20,448        -   3,742        -   1,658
Deferred availability cash items                    (487)        6,240        -     697        +     622
Other liabilities and accrued dividends (6)                      4,477        -     112        -     348
                TOTAL LIABILITIES                   (487)      503,697        -   4,079        +  33,813
					
                CAPITAL ACCOUNTS
Capital paid in                                                  5,919        +       3        +     647
Surplus                                                          5,220                0        +     832
Other capital accounts                                           1,311        +      11        +      25

*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 $ 2,450 million of inflation-indexed securities valued at the original face amount and
   $ 50 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
3  Includes $ 800 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  Net of $ 19,121 million matched sale-purchase transactions outstanding at the end of the latest
   statement week.  Includes $ 240 million securities loaned--fully secured by U.S. government
   securities.
5  Includes assets denominated in foreign currencies, revalued monthly at market exchange rates.  Includes
   special investment account at Chicago of $ 197 million in Treasury bills maturing within 90 days.
6  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,   October 28, 1998
Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in
accordance with maximum majority of the agreements.

Millions of dollars
                                                                 U.S. government         Federal agency
                    Loans   Acceptances                           securities (1)           obligations
                                                                           Weekly                 Weekly
                                                               Holdings    changes    Holdings    changes
Within 15 days         76          0     Within 15 days          12,666   -   1,208      3,440   -   2,048
16 to 90 days           8          0     16 to 90 days           92,901   -   1,286         52   +       2
Over 90 days            0          0     91 days to 1 year      142,265   +     591         93   +       8
                                         Over 1 to 5 years      105,384           0         58   -      10
                                         Over 5 to 10 years      42,034           0        185           0
                                         Over 10 years           54,995           0          0           0
    Total              84          0         Total              450,245   -   1,902      3,828   -   2,048

1  Includes $ 3,250 million of inflation-indexed securities valued at the original face amount and
   $ 59 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   October 28, 1998
Millions of dollars
                                                                                                                                                            Kansas                 San
                                               Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco
         ASSETS
Gold certificate account                      11,041        582      4,201        323        643        807        717        998        358        128        289        530      1,465
Special drawing rights certif. acct.           9,200        530      3,202        282        574        792        602        900        340        123        247        367      1,241
Coin                                             458         24         18         16         18         49         63         96         20         15         33         50         54
				
Loans                                             84          0          0          0          0          0          2          9         19         29         22          1          1
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Federal agency obligations	
  Bought outright                                388         21        144         11         25         31         24         37         14          4         11         18         49
  Held under repurchase agreements(1)          3,440          0      3,440          0          0          0          0          0          0          0          0          0          0
U.S. government securities	
  Bought outright--Bills                     196,578     10,706     72,860      5,715     12,776     15,485     11,958     18,872      6,908      2,160      5,453      8,938     24,747
                   Notes (2)                 184,333     10,039     68,321      5,359     11,980     14,521     11,213     17,696      6,478      2,025      5,113      8,381     23,205
                   Bonds (3)                  67,055      3,652     24,853      1,950      4,358      5,282      4,079      6,437      2,356        737      1,860      3,049      8,441
     Total bought outright(4)                447,966     24,397    166,034     13,024     29,115     35,288     27,250     43,006     15,742      4,921     12,427     20,368     56,393
  Held under repurchase agreements(1)          2,279          0      2,279          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             450,245     24,397    168,313     13,024     29,115     35,288     27,250     43,006     15,742      4,921     12,427     20,368     56,393
       Total loans and securities            454,157     24,418    171,897     13,035     29,140     35,319     27,276     43,052     15,775      4,954     12,460     20,387     56,443
				
Items in process of collection                 6,885        500        733        300        284        492        701        594        298        618        470        251      1,645
Bank premises                                  1,295         93        158         50        156        125         80        107         31        131         54        149        160
Other assets(5)                               33,601      1,616     10,143      1,434      2,048      3,999      2,057      3,196        898        843        809      1,572      4,985
Interdistrict settlement account                   0     -2,921    +21,925       -227     -4,633     -1,713     -1,460     -2,938     -2,195       +214       +926     +2,653     -9,631
          TOTAL ASSETS                       516,635     24,843    212,277     15,214     28,231     39,870     30,034     46,005     15,525      7,026     15,288     25,959     56,362

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 $ 2,450 million of inflation-indexed securities valued at the original face amount and
   $ 50 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
3  Includes $ 800 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  Net of $ 19,121 million matched sale-purchase transactions outstanding at the end of the latest
   statement week.  Includes $ 240 million securities loaned--fully secured by U.S. government
   securities.
5  Includes assets denominated in foreign currencies, revalued monthly at market exchange rates.  Includes
   special investment account at Chicago of $ 197 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   October 28, 1998
Millions of dollars
                                                                                                                                                            Kansas                 San
                                               Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco
       LIABILITIES
Federal Reserve notes                        472,533     23,035    198,979     13,290     25,833     35,554     26,810     41,809     14,278      5,581     13,830     23,549     49,984
Deposits			      	
  Depository institutions                     13,385        574      1,931      1,042        930        855      1,158      1,900        504        370        597      1,355      2,168
  U.S. Treasury--general account               6,382          0      6,382          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                     213          7         98          8          9         22          9         14          3          5          3          7         26
  Other                                          467          2        104          1          4         94         49        198          2          2          8          2          3
    Total deposits                            20,448        582      8,515      1,051        944        971      1,216      2,112        509        377        608      1,365      2,197
Deferred credit items                          6,727        416        647        212        340        518        856        516        308        577        406        308      1,625
Other liabilities and accrued	      	
  dividends (1)                                4,477        248      1,509        161        288        371        306        429        175         85        157        213        535
    TOTAL LIABILITIES                        504,184     24,281    209,650     14,714     27,404     37,414     29,188     44,866     15,270      6,620     15,001     25,434     54,342
				      	
       CAPITAL ACCOUNTS		      	
Capital paid in                                5,919        268      1,186        213        398      1,223        410        549        119        201        138        233        980
Surplus                                        5,220        254      1,055        273        335        818        338        502        122        189        119        271        945
Other capital accounts                         1,311         40        385         13         93        415         98         89         14         16         30         21         96
     TOTAL LIABILITIES AND CAPITAL    	
        ACCOUNTS                             516,635     24,843    212,277     15,214     28,231     39,870     30,034     46,005     15,525      7,026     15,288     25,959     56,362
				      	
FEDERAL RESERVE AGENTS' ACCOUNTS      	
				      	
F.R. notes outstanding                       587,780     27,913    239,893     16,393     30,295     44,118     37,014     52,790     16,939      7,361     16,610     30,161     68,292
  Less--Held by F.R. Banks                   115,247      4,878     40,914      3,103      4,462      8,564     10,203     10,981      2,661      1,781      2,780      6,612     18,308
  F.R. notes, net                            472,533     23,035    198,979     13,290     25,833     35,554     26,810     41,809     14,278      5,581     13,830     23,549     49,984
Collateral held against F.R. notes    	
   Gold certificate account                   11,041
   Special drawing rights	      	
     certificate account                       9,200
   Other eligible assets                           0
   U.S. govt. and agency securities          452,292
     Total collateral                        472,533

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.

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Last update: October 29, 1998