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 28, 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 26, 1997 Nov 19, 1997 Nov 27, 1996 Nov 26, 1997 Reserve Bank Credit (1,2) 460,748 - 98 + 29,931 463,958 U.S. government securities Bought outright-system account (3) 419,912 + 2,463 + 25,791 420,418 Held under repurchase agreements 7,401 - 173 + 4,813 12,021 Federal agency obligations Bought outright 685 0 - 1,558 685 Held under repurchase agreements 1,735 + 432 + 1,076 862 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 4 - 69 - 216 2 Seasonal credit 100 - 9 + 4 100 Extended credit 0 0 0 0 Float -14 - 1,580 - 476 -1,725 Other F.R. assets 30,925 - 1,163 + 498 31,596 Gold stock 11,050 0 + 1 11,051 Special drawing rights certificate account 9,200 0 - 518 9,200 Treasury currency outstanding 25,582 + 14 + 668 25,582 Total factors supplying reserve funds 506,580 - 84 + 30,083 509,791 Currency in circulation* 468,261 + 1,098 + 30,135 471,473 Treasury cash holdings* 244 - 3 - 28 234 Deposits,other than reserve balances,with F.R.Banks Treasury 5,002 - 57 + 6 3,963 Foreign 168 - 102 - 2 192 Service-related balances and adjustments (4) 6,815 - 67 - 122 6,815 Other 339 - 7 - 4 324 Other F.R. liabilities and capital 16,144 - 47 + 1,763 15,892 Total factors, other than reserve balances, absorbing reserve funds 496,974 + 814 + 31,750 498,893 Reserve balances with F.R. Banks (5) 9,606 - 898 - 1,667 10,898 On November 26, 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 617,808 million, a change of -$ 7,963 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 14,232 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 14,232 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 14,549 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 14,549 million was with foreign official and international accounts. Includes $ 137 million securities loaned--fully secured U.S. government securities. 3 Includes $ 1550 million of inflation-indexed securities valued at the original face amount and $ 18 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,714 million and adjustments of $ 101 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 26, 1997 Nov 19, 1997 Nov 27, 1996 ASSETS Gold certificate account 11,051 0 + 2 Special drawing rights certificate account 9,200 0 - 518 Coin 497 - 13 - 122 Loans 102 - 491 + 9 Acceptances 0 0 0 Federal agency obligations Bought outright 685 0 - 1,552 Held under repurchase agreements (1) 862 - 1,739 - 1,461 U.S. government securities Bought outright--Bills 195,055 - 995 + 2,549 Notes (2) 167,169 + 1,930 + 16,248 Bonds 58,193 + 954 + 8,854 Total bought outright (3) 420,418 + 1,890 + 27,651 Held under repurchase agreements (1) 12,021 + 4,669 + 6,033 Total U.S. government securities 432,439 + 6,559 + 33,684 Total loans and securities 434,087 + 4,329 + 30,680 Items in process of collection (520) 6,497 - 582 - 185 Bank premises 1,276 - 1 + 55 Other assets (4) 30,357 + 1,201 + 802 TOTAL ASSETS (520) 492,964 + 4,935 + 30,713 LIABILITIES Federal Reserve notes 446,622 + 3,714 + 29,656 Deposits Depository institutions 19,550 + 1,439 - 608 U.S. Treasury--general account 3,963 - 163 - 725 Foreign--official accounts 192 + 12 + 28 Other 324 - 18 + 25 Total deposits 24,029 + 1,270 - 1,280 Deferred availability cash items (520) 6,421 - 15 + 610 Other liabilities and accrued dividends (5) 4,853 - 79 + 186 TOTAL LIABILITIES (520) 481,925 + 4,890 + 29,172 CAPITAL ACCOUNTS Capital paid in 5,318 + 33 + 732 Surplus 4,389 0 + 528 Other capital accounts 1,332 + 12 + 281 *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 $ 18 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 14,549 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 137 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 $ 134 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 26, 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 94 0 Within 15 days 24,895 + 9,187 862 - 1,739 16 to 90 days 8 0 16 to 90 days 90,575 - 5,318 10 0 Over 90 days 0 0 91 days to 1 year 137,255 - 184 197 + 5 Over 1 to 5 years 92,328 + 1,434 198 - 5 Over 5 to 10 years 40,292 + 535 255 0 Over 10 years 47,094 + 904 25 0 Total 102 0 Total 432,439 + 6,559 1,547 - 1,739 1 Includes $ 1550 million of inflation-indexed securities valued at the original face amount and $ 18 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 26, 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 11,051 624 3,938 350 669 965 723 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 497 29 19 56 27 69 55 61 17 21 21 45 77 Loans 102 1 0 0 0 0 0 12 17 37 35 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) 862 0 862 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 195,055 11,891 63,091 6,521 13,492 18,559 13,016 20,806 7,769 2,716 5,570 7,084 24,541 Notes (2) 167,169 10,191 54,071 5,589 11,563 15,906 11,155 17,831 6,658 2,328 4,773 6,071 21,033 Bonds 58,193 3,548 18,823 1,945 4,025 5,537 3,883 6,207 2,318 810 1,662 2,113 7,322 Total bought outright(3) 420,418 25,630 135,985 14,055 29,081 40,001 28,055 44,844 16,745 5,855 12,005 15,268 52,895 Held under repurchase agreements(1) 12,021 0 12,021 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 432,439 25,630 148,006 14,055 29,081 40,001 28,055 44,844 16,745 5,855 12,005 15,268 52,895 Total loans and securities 434,087 25,673 149,089 14,078 29,128 40,066 28,100 44,928 16,789 5,901 12,059 15,293 52,982 Items in process of collection 7,017 461 761 285 262 457 840 556 302 606 427 417 1,642 Bank premises 1,276 94 154 50 128 126 78 108 31 144 54 150 159 Other assets(4) 30,357 1,270 9,458 1,411 1,825 2,283 2,349 3,317 834 577 979 1,379 4,675 Interdistrict settlement account 0 -2,514 +19,002 -647 -2,341 -7,932 -1,068 -4,718 -1,605 -1,520 +979 +3,166 -804 TOTAL ASSETS 493,484 26,167 185,622 15,865 30,272 36,827 31,679 46,221 17,108 6,001 15,052 21,276 61,393 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 $ 18 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 14,549 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 137 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 $ 134 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 26, 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 446,622 23,152 173,688 13,576 27,951 32,629 28,119 41,354 15,865 4,228 13,384 19,017 53,659 Deposits Depository institutions 19,550 1,862 3,142 1,270 977 1,423 1,625 2,564 576 706 754 1,168 3,484 U.S. Treasury--general account 3,963 0 3,963 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 192 5 81 9 9 10 13 17 4 3 5 8 28 Other 324 1 101 1 3 74 2 135 0 0 2 2 1 Total deposits 24,029 1,868 7,287 1,280 989 1,507 1,640 2,716 580 710 761 1,178 3,512 Deferred credit items 6,941 446 802 249 281 576 809 581 205 560 433 332 1,666 Other liabilities and accrued dividends (1) 4,853 292 1,511 187 321 450 341 504 205 99 171 193 578 TOTAL LIABILITIES 482,445 25,758 183,289 15,292 29,542 35,163 30,910 45,155 16,855 5,597 14,749 20,720 59,415 CAPITAL ACCOUNTS Capital paid in 5,318 194 1,108 281 358 815 336 526 122 198 125 277 978 Surplus 4,389 164 999 262 279 303 405 512 109 101 167 244 845 Other capital accounts 1,332 51 226 30 94 547 28 29 22 104 11 35 155 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 493,484 26,167 185,622 15,865 30,272 36,827 31,679 46,221 17,108 6,001 15,052 21,276 61,393 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 548,091 28,905 207,690 16,777 31,942 39,072 36,657 49,364 17,973 6,098 15,515 25,863 72,237 Less--Held by F.R. Banks 101,469 5,753 34,002 3,201 3,992 6,442 8,538 8,010 2,108 1,870 2,130 6,845 18,578 F.R. notes, net 446,622 23,152 173,688 13,576 27,951 32,629 28,119 41,354 15,865 4,228 13,384 19,017 53,659 Collateral held against F.R. notes Gold certificate account 11,051 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 426,372 Total collateral 446,622 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.