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 April 23, 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 Apr 22, 1998 Apr 15, 1998 Apr 23, 1997 Apr 22, 1998 Reserve Bank Credit (1,2) 476,170 + 4,430 + 30,309 487,670 U.S. government securities Bought outright-system account (3) 440,602 + 4,166 + 39,882 441,824 Held under repurchase agreements 2,338 + 439 - 7,844 10,225 Federal agency obligations Bought outright 565 - 21 - 1,420 565 Held under repurchase agreements 687 - 100 - 43 2,617 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 14 0 - 221 96 Seasonal credit 43 + 12 - 52 47 Extended credit 0 0 0 0 Float 362 - 8 - 525 -290 Other F.R. assets 31,560 - 57 + 532 32,587 Gold stock 11,049 0 - 3 11,049 Special drawing rights certificate account 9,200 0 0 9,200 Treasury currency outstanding 25,830 + 14 + 613 25,830 Total factors supplying reserve funds 522,249 + 4,445 + 30,919 533,748 Currency in circulation* 476,953 - 242 + 31,127 477,306 Treasury cash holdings* 277 + 1 - 31 278 Deposits,other than reserve balances,with F.R.Banks Treasury 7,894 + 1,676 - 766 12,950 Foreign 185 + 2 + 21 162 Service-related balances and adjustments (4) 6,861 + 225 - 247 6,861 Other 349 - 34 - 2 350 Other F.R. liabilities and capital 16,328 + 105 + 1,302 16,156 Total factors, other than reserve balances, absorbing reserve funds 508,848 + 1,733 + 31,405 514,063 Reserve balances with F.R. Banks (5) 13,401 + 2,712 - 486 19,685 On April 22, 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 606,551 million, a change of -$ 4,498 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 16,253 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 16,253 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 16,374 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 16,374 million was with foreign official and international accounts. Includes $ 0 million securities loaned--fully secured U.S. government securities. 3 Includes $ 2,450 million of inflation-indexed securities valued at the original face amount and $ 26 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,516 million and adjustments of $ 345 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 Apr 22, 1998 Apr 15, 1998 Apr 23, 1997 ASSETS Gold certificate account 11,049 0 - 3 Special drawing rights certificate account 9,200 0 0 Coin 472 - 11 - 162 Loans 143 + 104 - 1,125 Acceptances 0 0 0 Federal agency obligations Bought outright 565 0 - 1,420 Held under repurchase agreements (1) 2,617 + 659 + 583 U.S. government securities Bought outright--Bills 199,325 - 335 + 3,724 Notes (2) 180,585 + 1,881 + 26,431 Bonds (3) 61,913 0 + 10,514 Total bought outright (4) 441,824 + 1,546 + 40,669 Held under repurchase agreements (1) 10,225 + 7,130 - 10,847 Total U.S. government securities 452,049 + 8,676 + 29,822 Total loans and securities 455,373 + 9,439 + 27,860 Items in process of collection (530) 7,322 - 308 + 313 Bank premises 1,285 + 1 + 36 Other assets (5) 31,308 + 1,253 + 640 TOTAL ASSETS (530) 516,008 + 10,375 + 28,683 LIABILITIES Federal Reserve notes 452,225 - 1,134 + 30,259 Deposits Depository institutions 27,063 + 8,136 - 858 U.S. Treasury--general account 12,950 + 3,493 - 2,913 Foreign--official accounts 162 - 1 + 6 Other 350 + 6 + 28 Total deposits 40,525 + 11,634 - 3,738 Deferred availability cash items (530) 7,101 - 174 + 999 Other liabilities and accrued dividends (6) 4,807 + 13 - 233 TOTAL LIABILITIES (530) 504,659 + 10,339 + 27,286 CAPITAL ACCOUNTS Capital paid in 5,473 - 32 + 680 Surplus 5,220 0 + 725 Other capital accounts 656 + 67 - 7 *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 $ 2,050 million of inflation-indexed securities valued at the original face amount and $ 26 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Includes $ 400 million of inflation-indexed securities valued at the original face amount and $ 0 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,374 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 0 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 $ 150 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, April 22, 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 137 0 Within 15 days 23,188 + 6,921 2,631 + 659 16 to 90 days 6 0 16 to 90 days 93,096 + 1,105 0 0 Over 90 days 0 0 91 days to 1 year 145,351 - 1,231 175 0 Over 1 to 5 years 99,015 + 1,880 126 0 Over 5 to 10 years 40,622 + 1 225 0 Over 10 years 50,776 0 25 0 Total 143 0 Total 452,049 + 8,676 3,182 + 659 1 Includes $ 2,450 million of inflation-indexed securities valued at the original face amount and $ 26 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 April 22, 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 11,049 582 4,209 323 643 807 717 998 358 128 289 530 1,465 Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241 Coin 472 27 31 45 29 52 42 64 17 23 44 34 64 Loans 143 4 0 0 0 95 5 16 6 9 6 0 2 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 565 31 209 16 37 44 34 54 20 6 16 26 71 Held under repurchase agreements(1) 2,617 0 2,617 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 199,325 10,856 73,878 5,795 12,955 15,702 12,125 19,136 7,005 2,190 5,529 9,063 25,093 Notes (2) 180,585 9,835 66,932 5,250 11,737 14,225 10,985 17,337 6,346 1,984 5,010 8,211 22,733 Bonds (3) 61,913 3,372 22,947 1,800 4,024 4,877 3,766 5,944 2,176 680 1,718 2,815 7,794 Total bought outright(4) 441,824 24,063 163,758 12,845 28,715 34,804 26,877 42,416 15,526 4,854 12,256 20,089 55,620 Held under repurchase agreements(1) 10,225 0 10,225 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 452,049 24,063 173,983 12,845 28,715 34,804 26,877 42,416 15,526 4,854 12,256 20,089 55,620 Total loans and securities 455,373 24,097 176,809 12,862 28,752 34,944 26,916 42,486 15,553 4,869 12,278 20,115 55,693 Items in process of collection 7,852 528 761 216 363 531 861 624 382 575 562 705 1,744 Bank premises 1,285 94 157 50 142 126 81 107 32 132 54 150 159 Other assets(5) 31,308 1,478 9,958 1,246 1,861 3,678 1,866 2,915 822 774 737 1,432 4,541 Interdistrict settlement account 0 -2,237 +6,734 -283 -105 -2,057 +377 +291 -661 +897 +1,617 +3,058 -7,631 TOTAL ASSETS 516,538 25,100 201,862 14,741 32,259 38,872 31,462 48,386 16,841 7,520 15,828 26,390 57,276 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 $ 2,050 million of inflation-indexed securities valued at the original face amount and $ 26 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Includes $ 400 million of inflation-indexed securities valued at the original face amount and $ 0 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,374 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 0 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 $ 150 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 April 22, 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 452,225 22,515 178,417 12,623 29,020 33,014 27,209 42,353 15,343 5,356 13,739 23,104 49,533 Deposits Depository institutions 27,063 1,336 5,517 1,119 1,740 3,018 2,357 3,828 785 1,100 1,100 1,973 3,191 U.S. Treasury--general account 12,950 0 12,950 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 162 7 47 8 9 22 9 14 3 5 3 7 26 Other 350 2 98 1 2 91 1 151 0 1 1 1 1 Total deposits 40,525 1,345 18,613 1,127 1,752 3,131 2,367 3,993 789 1,106 1,104 1,981 3,217 Deferred credit items 7,631 487 743 230 415 602 818 505 280 581 545 479 1,947 Other liabilities and accrued dividends (1) 4,807 258 1,674 171 302 381 319 455 183 94 165 226 579 TOTAL LIABILITIES 505,189 24,605 199,447 14,152 31,489 37,129 30,713 47,305 16,594 7,137 15,553 25,790 55,275 CAPITAL ACCOUNTS Capital paid in 5,473 211 1,145 265 375 857 368 528 116 191 134 295 987 Surplus 5,220 254 1,055 273 335 818 338 502 122 189 119 271 945 Other capital accounts 656 30 215 52 59 68 42 51 10 4 22 34 68 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 516,538 25,100 201,862 14,741 32,259 38,872 31,462 48,386 16,841 7,520 15,828 26,390 57,276 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 558,999 27,009 219,938 15,471 32,172 39,917 35,715 51,082 17,613 6,840 15,896 28,403 68,944 Less--Held by F.R. Banks 106,773 4,493 41,521 2,848 3,152 6,903 8,506 8,729 2,270 1,484 2,156 5,299 19,411 F.R. notes, net 452,225 22,515 178,417 12,623 29,020 33,014 27,209 42,353 15,343 5,356 13,739 23,104 49,533 Collateral held against F.R. notes Gold certificate account 11,049 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 431,977 Total collateral 452,225 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.