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 12, 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 11, 1997 Jun 4, 1997 Jun 12, 1996 Jun 11, 1997 Reserve Bank Credit (1,2) 443,436 - 4,380 + 26,097 444,764 U.S. government securities Bought outright-system account (3) 405,677 - 99 + 24,915 405,074 Held under repurchase agreements 4,512 - 3,581 + 2,110 5,759 Federal agency obligations Bought outright 1,644 - 195 - 770 1,596 Held under repurchase agreements 1,285 - 214 + 774 1,635 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 25 - 209 + 18 109 Seasonal credit 189 - 22 + 37 189 Extended credit 0 0 0 0 Float 339 + 10 - 302 446 Other F.R. assets 29,765 - 71 - 686 29,956 Gold stock 11,050 0 - 1 11,050 Special drawing rights certificate account 9,200 0 - 968 9,200 Treasury currency outstanding 25,313 + 14 + 838 25,313 Total factors supplying reserve funds 488,999 - 4,367 + 25,966 490,326 Currency in circulation* 451,618 - 85 + 28,305 452,483 Treasury cash holdings* 344 + 12 + 56 344 Deposits,other than reserve balances,with F.R.Banks Treasury 5,254 + 261 - 443 4,776 Foreign 171 - 5 - 8 188 Service-related balances and adjustments (4) 7,096 - 112 + 974 7,096 Other 368 - 36 + 38 361 Other F.R. liabilities and capital 15,747 - 170 + 2,659 15,015 Total factors, other than reserve balances, absorbing reserve funds 480,597 - 136 + 31,581 480,263 Reserve balances with F.R. Banks (5) 8,402 - 4,231 - 5,614 10,063 On June 11, 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 $ 647,036 million, a change of + $ 1,271 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 14,019 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 14,019 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 14,621 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 14,621 million was with foreign official and international accounts. Includes $ 70 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 $ 6,972 million and adjustments of $ 125 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 11, 1997 Jun 4, 1997 Jun 12, 1996 ASSETS Gold certificate account 11,050 - 1 - 1 Special drawing rights certificate account 9,200 0 - 968 Coin 512 + 6 - 26 Loans 298 + 97 + 125 Acceptances 0 0 0 Federal agency obligations Bought outright 1,596 - 67 - 792 Held under repurchase agreements (1) 1,635 + 427 + 1,540 U.S. government securities Bought outright--Bills 194,387 - 1,810 + 8,072 Notes (2) 157,771 0 + 7,669 Bonds 52,916 0 + 6,473 Total bought outright (3) 405,074 - 1,810 + 22,214 Held under repurchase agreements (1) 5,759 - 3,200 + 3,599 Total U.S. government securities 410,833 - 5,010 + 25,813 Total loans and securities 414,362 - 4,553 + 26,687 Items in process of collection (381) 6,129 - 1,552 + 32 Bank premises 1,247 + 4 + 66 Other assets (4) 28,878 + 133 - 477 TOTAL ASSETS (381) 471,377 - 5,963 + 25,312 LIABILITIES Federal Reserve notes 428,026 + 173 + 27,427 Deposits Depository institutions 17,305 - 5,126 - 3,303 U.S. Treasury--general account 4,776 + 479 - 786 Foreign--official accounts 188 + 15 + 22 Other (1) 361 - 17 + 25 Total deposits (1) 22,630 - 4,649 - 4,042 Deferred availability cash items (380) 5,706 - 770 + 5 Other liabilities and accrued dividends (5) 4,939 - 140 + 549 TOTAL LIABILITIES (381) 461,302 - 5,386 + 23,939 CAPITAL ACCOUNTS Capital paid in 4,873 + 33 + 734 Surplus 4,496 0 + 529 Other capital accounts 707 - 609 + 109 *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 $ 14,621 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 70 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 $ 139 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 11, 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 141 0 Within 15 days 16,720 - 800 1735 + 360 16 days to 90 157 0 16 days to 90 days 91,515 - 3,914 504 0 Over 90 days 0 0 91 days to 1 year 126,932 - 296 245 0 Over 1 year to 5 years 94,044 0 416 0 Over 5 years to 10 years 38,517 0 307 0 Over 10 years 43,105 0 25 0 Total 298 0 Total 410,833 - 5,010 3231 + 360 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 11, 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 512 13 21 62 23 78 58 65 25 25 43 39 59 Loans 298 3 0 0 100 0 11 31 27 88 29 5 4 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 1,596 97 516 53 110 152 107 170 64 22 46 58 201 Held under repurchase agreements(1) 1,635 0 1,635 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 194,387 11,850 62,875 6,499 13,446 18,495 12,972 20,734 7,742 2,707 5,551 7,059 24,457 Notes (2) 157,771 9,618 51,031 5,274 10,913 15,011 10,528 16,829 6,284 2,197 4,505 5,730 19,850 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) 405,074 24,694 131,022 13,542 28,019 38,541 27,031 43,207 16,134 5,641 11,567 14,711 50,965 Held under repurchase agreements(1) 5,759 0 5,759 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 410,833 24,694 136,781 13,542 28,019 38,541 27,031 43,207 16,134 5,641 11,567 14,711 50,965 Total loans and securities 414,362 24,794 138,932 13,595 28,230 38,693 27,148 43,409 16,224 5,752 11,641 14,774 51,169 Items in process of collection 6,511 445 694 252 259 462 797 646 265 470 348 265 1,607 Bank premises 1,247 94 153 50 114 127 74 109 30 130 56 151 160 Other assets(4) 28,878 1,246 8,174 1,406 1,800 2,278 2,362 3,230 820 574 976 1,370 4,641 Interdistrict settlement account 0 -1745 17927 -1547 -2558 -5327 -5957 -3666 -2008 -938 -1212 3365 3667 TOTAL ASSETS 471,759 26,002 173,040 14,451 29,111 38,068 25,807 45,762 16,098 6,282 12,384 20,790 63,964 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 $ 14,621 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 70 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 $ 139 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 11, 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 428,026 23,686 159,627 12,568 27,289 34,981 22,405 41,484 14,835 4,956 10,944 18,504 56,747 Deposits Depository institutions 17,305 1,249 3,959 879 648 1,169 1,474 1,925 603 426 598 1,227 3,149 U.S. Treasury--general account 4,776 0 4,776 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 188 5 77 9 9 10 13 17 4 3 5 8 28 Other 362 1 110 1 3 98 1 142 1 1 1 1 2 Total deposits 22,631 1,255 8,922 888 660 1,277 1,488 2,085 607 430 605 1,236 3,179 Deferred credit items 6,086 356 665 216 232 532 672 537 205 484 332 318 1,538 Other liabilities and accrued dividends (1) 4,939 295 1,532 193 326 450 349 519 205 104 174 199 595 TOTAL LIABILITIES 461,683 25,593 170,746 13,866 28,506 37,240 24,914 44,624 15,852 5,973 12,055 20,257 62,059 CAPITAL ACCOUNTS Capital paid in 4,873 192 1,087 287 289 448 394 552 116 166 150 263 931 Surplus 4,496 168 1,023 268 286 310 415 524 112 104 171 250 865 Other capital accounts 707 50 184 30 30 70 85 61 19 39 9 21 109 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 471,759 26,002 173,040 14,451 29,111 38,068 25,807 45,762 16,098 6,282 12,384 20,790 63,964 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 538,873 29,724 205,395 16,036 30,441 41,494 30,757 50,362 17,458 6,329 12,833 24,535 73,509 Less--Held by F.R. Banks 110,847 6,037 45,768 3,467 3,152 6,513 8,352 8,878 2,624 1,374 1,890 6,032 16,762 F.R. notes, net 428,026 23,686 159,627 12,568 27,289 34,981 22,405 41,484 14,835 4,956 10,944 18,504 56,747 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 407,776 Total collateral 428,026 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.