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 March 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 Mar 19, 1997 Mar 12, 1997 Mar 20, 1996 Mar 19, 1997 Reserve Bank Credit (1,2) 438,287 + 965 + 22,975 442,045 U.S. government securities Bought outright-system account (3) 397,082 + 1,756 + 19,390 397,206 Held under repurchase agreements 7,243 - 1,101 + 4,519 9,889 Federal agency obligations Bought outright 2,011 0 - 528 2,011 Held under repurchase agreements 966 - 328 + 563 1,205 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 299 + 297 + 293 1,154 Seasonal credit 35 + 9 + 24 40 Extended credit 0 0 0 0 Float 529 + 79 - 219 231 Other F.R. assets 30,122 + 254 - 1,068 30,309 Gold stock 11,051 0 - 2 11,050 Special drawing rights certificate account 9,200 0 - 968 9,200 Treasury currency outstanding 25,135 + 14 + 899 25,135 Total factors supplying reserve funds 483,672 + 979 + 22,903 487,430 Currency in circulation* 443,573 + 66 + 27,216 444,179 Treasury cash holdings* 302 + 20 - 11 307 Deposits,other than reserve balances,with F.R.Banks Treasury 7,479 + 2,310 + 243 9,035 Foreign 166 - 9 - 5 163 Service-related balances and adjustments (4) 7,033 - 72 + 1,289 7,033 Other 419 + 11 + 34 412 Other F.R. liabilities and capital 14,633 + 236 + 1,705 14,498 Total factors, other than reserve balances, absorbing reserve funds 473,606 + 2,562 + 30,471 475,628 Reserve balances with F.R. Banks (5) 10,067 - 1,583 - 7,568 11,803 On March 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 $ 649,667 million, a change of + $ 5,010 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 13,846 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 13,846 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 13,722 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 13,722 million was with foreign official and international accounts. Includes $ 40 million securities loaned--fully secured U.S. government securities. 3 Includes $ 350 million of inflation-indexed securities valued at the original face amount and $ 1 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,760 million and adjustments of $ 273 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 Mar 19, 1997 Mar 12, 1997 Mar 20, 1996 ASSETS Gold certificate account 11,050 0 - 2 Special drawing rights certificate account 9,200 0 - 968 Coin 690 - 11 + 131 Loans 1,193 + 1,158 + 1,173 Acceptances 0 0 0 Federal agency obligations Bought outright 2,011 0 - 528 Held under repurchase agreements (1) 1,205 - 974 + 1,205 U.S. government securities Bought outright--Bills 191,280 - 292 + 6,751 Notes (2) 154,526 + 1,423 + 5,641 Bonds 51,399 0 + 6,431 Total bought outright (3) 397,206 + 1,131 + 18,823 Held under repurchase agreements (1) 9,889 - 2,920 + 9,889 Total U.S. government securities 407,095 - 1,789 + 28,712 Total loans and securities 411,505 - 1,605 + 30,562 Items in process of collection (338) 6,379 - 196 - 1,317 Bank premises 1,249 + 1 + 99 Other assets (4) 29,148 - 118 - 731 TOTAL ASSETS (338) 469,221 - 1,930 + 27,774 LIABILITIES Federal Reserve notes 420,040 - 337 + 26,740 Deposits Depository institutions 19,245 - 5,064 - 5,722 U.S. Treasury--general account 9,035 + 3,750 + 4,592 Foreign--official accounts 163 - 58 - 5 Other (-2) 412 + 3 + 37 Total deposits (-2) 28,856 - 1,369 - 1,099 Deferred availability cash items (340) 5,826 - 206 + 299 Other liabilities and accrued dividends (5) 4,696 - 96 + 544 TOTAL LIABILITIES (338) 459,418 - 2,009 + 26,484 CAPITAL ACCOUNTS Capital paid in 4,757 + 2 + 722 Surplus 4,514 + 38 + 548 Other capital accounts 531 + 39 + 21 *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 $ 1 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 13,722 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 40 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 $ 160 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, MARCH 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 1192 0 Within 15 days 22,495 + 2,462 1494 - 702 16 days to 90 1 0 16 days to 90 days 90,603 - 5,391 510 - 272 Over 90 days 0 0 91 days to 1 year 121,282 - 283 281 0 Over 1 year to 5 years 93,991 + 1,423 460 0 Over 5 years to 10 years 36,607 0 447 0 Over 10 years 42,117 0 25 0 Total 1193 0 Total 407,095 - 1,789 3216 - 974 1 Includes $ 350 million of inflation-indexed securities valued at the original face amount and $ 1 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 MARCH 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 11,050 661 4,051 423 624 919 769 1,140 474 168 321 433 1,067 Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241 Coin 690 21 33 63 35 115 84 82 30 26 55 56 89 Loans 1,193 8 0 0 0 0 0 9 7 8 11 0 1,150 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 2,011 118 748 78 118 167 134 218 94 30 63 72 170 Held under repurchase agreements(1) 1,205 0 1,205 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 191,280 11,255 71,136 7,403 11,243 15,862 12,765 20,730 8,961 2,885 5,991 6,849 16,201 Notes (2) 154,526 9,092 57,468 5,981 9,082 12,814 10,312 16,746 7,239 2,331 4,840 5,533 13,088 Bonds 51,399 3,024 19,115 1,989 3,021 4,262 3,430 5,570 2,408 775 1,610 1,841 4,353 Total bought outright(3) 397,206 23,371 147,719 15,373 23,346 32,938 26,508 43,046 18,608 5,991 12,442 14,223 33,642 Held under repurchase agreements(1) 9,889 0 9,889 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 407,095 23,371 157,608 15,373 23,346 32,938 26,508 43,046 18,608 5,991 12,442 14,223 33,642 Total loans and securities 411,505 23,497 159,561 15,451 23,464 33,105 26,642 43,274 18,709 6,029 12,516 14,295 34,963 Items in process of collection 6,717 371 922 217 278 628 777 624 306 441 319 387 1,446 Bank premises 1,249 95 153 50 113 127 81 109 31 121 56 154 160 Other assets(4) 29,148 1,224 8,942 1,444 1,700 2,183 2,318 3,262 879 574 993 1,359 4,270 Interdistrict settlement account 0 -916 -14970 -3183 3212 1992 -3467 -1392 -3952 -1190 -1476 5193 20148 TOTAL ASSETS 469,559 25,484 161,896 14,747 30,000 39,862 27,805 47,998 16,816 6,292 13,030 22,245 63,383 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 $ 1 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 13,722 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 40 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 $ 160 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 MARCH 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 420,040 23,696 143,242 12,827 28,109 37,152 24,231 41,849 15,654 5,156 11,545 19,665 56,914 Deposits Depository institutions 19,245 777 4,587 914 794 1,029 1,460 3,872 483 348 566 1,563 2,853 U.S. Treasury--general account 9,035 0 9,035 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 163 5 52 9 9 10 13 17 4 3 5 8 28 Other 410 1 116 0 3 112 8 163 -2 1 2 1 5 Total deposits 28,854 784 13,791 923 806 1,151 1,481 4,051 485 352 573 1,571 2,885 Deferred credit items 6,166 355 871 214 235 489 815 479 211 457 371 299 1,373 Other liabilities and accrued dividends (1) 4,696 271 1,677 200 266 375 332 489 218 103 174 182 407 TOTAL LIABILITIES 459,757 25,105 159,581 14,164 29,416 39,167 26,859 46,868 16,568 6,068 12,663 21,717 61,579 CAPITAL ACCOUNTS Capital paid in 4,757 179 1,078 286 283 337 464 547 115 111 179 260 920 Surplus 4,514 168 1,023 268 286 310 415 524 112 104 171 250 884 Other capital accounts 531 31 213 30 16 48 67 59 22 10 17 17 0 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 469,559 25,484 161,896 14,747 30,000 39,862 27,805 47,998 16,816 6,292 13,030 22,245 63,383 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 525,325 29,793 185,926 15,838 31,456 43,362 32,431 49,728 18,503 6,701 13,501 25,060 73,026 Less--Held by F.R. Banks 105,285 6,097 42,683 3,011 3,347 6,209 8,200 7,879 2,849 1,546 1,956 5,395 16,113 F.R. notes, net 420,040 23,696 143,242 12,827 28,109 37,152 24,231 41,849 15,654 5,156 11,545 19,665 56,914 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 399,790 Total collateral 420,040 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.