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 November 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 Nov 19, 1997 Nov 12, 1997 Nov 20, 1996 Nov 19, 1997 Reserve Bank Credit (1,2) 460,894 + 1,447 + 28,727 460,642 U.S. government securities Bought outright-system account (3) 417,448 + 3,856 + 23,653 418,528 Held under repurchase agreements 7,573 - 2,021 + 3,591 7,352 Federal agency obligations Bought outright 685 0 - 1,562 685 Held under repurchase agreements 1,303 - 199 + 617 2,601 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 73 + 72 + 10 486 Seasonal credit 110 - 4 + 3 106 Extended credit 0 0 0 0 Float 1,614 + 795 + 815 408 Other F.R. assets 32,087 - 1,052 + 1,598 30,477 Gold stock 11,050 0 + 1 11,050 Special drawing rights certificate account 9,200 0 - 518 9,200 Treasury currency outstanding 25,568 + 14 + 670 25,568 Total factors supplying reserve funds 506,712 + 1,461 + 28,880 506,460 Currency in circulation* 467,164 + 1,470 + 29,964 467,721 Treasury cash holdings* 247 0 - 28 246 Deposits,other than reserve balances,with F.R.Banks Treasury 5,059 - 279 + 20 4,126 Foreign 270 + 28 + 97 180 Service-related balances and adjustments (4) 6,882 - 138 + 108 6,882 Other 346 - 16 - 18 342 Other F.R. liabilities and capital 16,191 - 52 + 1,735 15,926 Total factors, other than reserve balances, absorbing reserve funds 496,160 + 1,012 + 31,878 495,422 Reserve balances with F.R. Banks (5) 10,552 + 449 - 2,998 11,038 On November 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 625,771 million, a change of -$ 2,544 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 14,364 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 14,364 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 13,554 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 13,554 million was with foreign official and international accounts. Includes $ 140 million securities loaned--fully secured U.S. government securities. 3 Includes $ 1550 million of inflation-indexed securities valued at the original face amount and $ 17 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,762 million and adjustments of $ 120 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 Nov 19, 1997 Nov 12, 1997 Nov 20, 1996 ASSETS Gold certificate account 11,050 0 + 1 Special drawing rights certificate account 9,200 0 - 518 Coin 510 0 - 114 Loans 592 + 480 + 122 Acceptances 0 0 0 Federal agency obligations Bought outright 685 0 - 1,562 Held under repurchase agreements (1) 2,601 + 1,028 + 876 U.S. government securities Bought outright--Bills 196,050 + 2,348 + 2,881 Notes (2) 165,239 + 711 + 14,317 Bonds 57,239 + 1,180 + 7,900 Total bought outright (3) 418,528 + 4,239 + 25,098 Held under repurchase agreements (1) 7,352 - 3,398 - 1,123 Total U.S. government securities 425,880 + 841 + 23,975 Total loans and securities 429,758 + 2,350 + 23,411 Items in process of collection (600) 7,079 + 573 + 78 Bank premises 1,277 0 + 56 Other assets (4) 29,156 - 3,881 + 134 TOTAL ASSETS (600) 488,029 - 959 + 23,048 LIABILITIES Federal Reserve notes 442,909 + 85 + 29,135 Deposits Depository institutions 18,112 - 354 - 7,264 U.S. Treasury--general account 4,126 - 1,382 - 993 Foreign--official accounts 180 - 7 - 3 Other 342 - 7 - 24 Total deposits 22,759 - 1,750 - 8,283 Deferred availability cash items (600) 6,435 + 517 + 482 Other liabilities and accrued dividends (5) 4,931 + 189 + 223 TOTAL LIABILITIES (600) 477,035 - 959 + 21,556 CAPITAL ACCOUNTS Capital paid in 5,285 + 3 + 704 Surplus 4,389 0 + 528 Other capital accounts 1,321 - 2 + 259 *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 $ 1550 million of inflation-indexed securities valued at the original face amount and $ 17 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 13,554 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 140 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 $ 147 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, November 19, 1997 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 578 0 Within 15 days 15,708 - 11,872 2,601 + 1,028 16 to 90 days 15 0 16 to 90 days 95,893 + 5,719 10 0 Over 90 days 0 0 91 days to 1 year 137,439 + 4,265 192 0 Over 1 to 5 years 90,894 + 602 203 0 Over 5 to 10 years 39,756 + 1,326 255 0 Over 10 years 46,190 + 802 25 0 Total 592 0 Total 425,880 + 841 3,286 + 1,028 1 Includes $ 1550 million of inflation-indexed securities valued at the original face amount and $ 17 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 November 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 11,050 624 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 510 30 21 57 29 67 60 64 19 21 23 42 75 Loans 592 60 300 0 105 0 20 16 17 41 32 0 1 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 685 42 221 23 47 65 46 73 27 10 20 25 86 Held under repurchase agreements(1) 2,601 0 2,601 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 196,050 11,952 63,413 6,554 13,561 18,654 13,083 20,912 7,808 2,730 5,598 7,120 24,666 Notes (2) 165,239 10,073 53,447 5,524 11,430 15,722 11,027 17,625 6,581 2,301 4,718 6,001 20,790 Bonds 57,239 3,489 18,514 1,914 3,959 5,446 3,820 6,105 2,280 797 1,634 2,079 7,202 Total bought outright(3) 418,528 25,515 135,373 13,992 28,950 39,822 27,929 44,642 16,669 5,829 11,951 15,199 52,658 Held under repurchase agreements(1) 7,352 0 7,352 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 425,880 25,515 142,725 13,992 28,950 39,822 27,929 44,642 16,669 5,829 11,951 15,199 52,658 Total loans and securities 429,758 25,616 145,848 14,015 29,102 39,887 27,994 44,732 16,714 5,880 12,002 15,224 52,745 Items in process of collection 7,678 497 788 265 331 532 963 565 343 628 356 428 1,981 Bank premises 1,277 94 153 50 128 127 78 108 31 145 55 150 159 Other assets(4) 29,156 1,230 8,719 1,389 1,777 2,228 2,309 3,206 814 567 959 1,356 4,601 Interdistrict settlement account 0 -3,339 +21,307 -2,029 -2,306 -8,236 -1,092 -4,610 -1,072 -994 +903 +3,158 -1,690 TOTAL ASSETS 488,629 25,283 183,975 14,378 30,305 36,362 31,637 46,034 17,590 6,517 14,831 21,185 60,532 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 $ 1550 million of inflation-indexed securities valued at the original face amount and $ 17 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 13,554 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 140 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 $ 147 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 November 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 442,909 23,005 171,922 12,629 27,708 32,444 28,060 41,035 15,794 4,417 13,223 19,063 53,607 Deposits Depository institutions 18,112 1,169 3,045 814 1,208 1,158 1,668 2,686 1,104 1,027 774 1,001 2,457 U.S. Treasury--general account 4,126 0 4,126 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 180 5 69 9 9 10 13 17 4 3 5 8 28 Other 342 1 104 -95 4 77 2 148 0 1 1 2 97 Total deposits 22,759 1,176 7,344 728 1,221 1,244 1,683 2,851 1,108 1,031 781 1,011 2,582 Deferred credit items 7,035 399 834 254 310 567 798 581 239 566 350 360 1,778 Other liabilities and accrued dividends (1) 4,931 296 1,541 191 325 457 345 512 204 109 172 195 585 TOTAL LIABILITIES 477,634 24,876 181,641 13,802 29,565 34,713 30,885 44,979 17,345 6,123 14,526 20,629 58,553 CAPITAL ACCOUNTS Capital paid in 5,285 194 1,107 287 355 812 316 516 122 198 125 276 978 Surplus 4,389 164 999 262 279 303 405 512 109 101 167 244 845 Other capital accounts 1,321 49 228 28 107 534 32 28 14 94 14 36 156 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 488,629 25,283 183,975 14,378 30,305 36,362 31,637 46,034 17,590 6,517 14,831 21,185 60,532 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 548,516 29,010 207,342 16,056 32,041 39,102 36,936 49,612 17,960 6,115 15,523 26,110 72,709 Less--Held by F.R. Banks 105,608 6,005 35,419 3,427 4,333 6,658 8,877 8,577 2,166 1,698 2,299 7,047 19,101 F.R. notes, net 442,909 23,005 171,922 12,629 27,708 32,444 28,060 41,035 15,794 4,417 13,223 19,063 53,607 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 422,658 Total collateral 442,909 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.