1 ________________________________________________________________________________________________________________ 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 October 15, 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 Oct 14, 1998 Oct 7, 1998 Oct 15, 1997 Oct 14, 1998 ________________________________________________________________________________________________________________ Reserve Bank credit 1 2 488,655 + 200 + 34,663 491,308 U.S. government securities Bought outright--system account 447,673 + 937 + 34,402 447,687 Held under repurchase agreements 2,672 - 1,068 - 3,480 2,045 Federal agency obligations Bought outright 400 - 2 - 432 388 Held under repurchase agreements 3,077 + 267 + 1,821 4,570 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 31 - 284 + 24 101 Seasonal credit 110 - 22 - 122 109 Extended credit 0 0 0 0 Float 575 + 290 - 43 2,172 Other F.R. assets 34,116 + 82 + 2,493 34,236 Gold stock 11,044 0 - 6 11,044 Special drawing rights certificate account 9,200 0 0 9,200 Treasury currency outstanding 26,000 + 14 + 486 26,000 -------------------------------------------------------- Total factors supplying reserve funds 534,898 + 214 + 35,143 537,551 Currency in circulation* 497,311 + 3,400 + 35,544 498,451 Treasury cash holdings* 92 0 - 150 92 Deposits, other than reserve balances, with F.R. Banks Treasury 5,480 - 300 + 370 4,895 Foreign 321 + 127 + 145 189 Service-related balances and adjustments 3 7,057 + 98 + 51 7,057 Other 417 - 6 + 35 397 Other F.R. liabilities and capital 17,078 - 603 + 1,236 16,878 -------------------------------------------------------- Total factors, other than reserve balances, absorbing reserve funds 527,755 + 2,717 + 37,231 527,959 Reserve balances with F.R. Banks 4 7,143 - 2,503 - 2,088 9,593 ---------------------------------------------------------------------------------------------------------------- On October 14, 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 $ 571,910 million, a change of + $ 2,894 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 19,268 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 19,268 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 19,255 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 19,255 million was with foreign official and international accounts. Includes $ 599 million securities loaned--fully secured U.S. government securities. 3 Consists of required clearing balances of $ 6,667 million and adjustments of $ 390 million to compensate for float. 4 Excludes required clearing balances and adjustments to compensate for float. * Estimated (Treasury's figures). Components may not add to totals due to rounding. 1 Worksheet for H.4.1 (a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS Millions of dollars ---------------------------------------------------------------------------------------------------------------- Change since * Wednesday Wednesday Wednesday Oct 14, 1998 Oct 7, 1998 Oct 15, 1997 ---------------------------------------------------------------- ASSETS Gold certificate account 11,044 0 - 6 Special drawing rights certificate account 9,200 0 0 Coin 411 + 2 - 112 Loans 210 + 80 - 28 Acceptances 0 0 0 Federal agency obligations Bought outright 388 - 15 - 373 Held under repurchase agreements 1 4,570 + 1,730 + 3,665 U.S. government securities Bought outright--Bills 196,445 + 229 + 1,344 Notes 184,188 + 1 + 21,113 Bonds 67,054 0 + 10,995 ---------- ---------- ---------- Total bought outright 2 447,687 + 229 + 33,453 Held under repurchase agreements 1 2,045 - 2,493 - 4,995 ---------- ---------- ---------- Total U.S. government securities 449,732 - 2,264 + 28,458 ---------- ---------- ---------- Total loans and securities 454,899 - 469 + 31,722 Items in process of collection (505) 11,600 + 3,560 - 699 Bank premises 1,296 0 + 25 Other assets 3 32,999 + 90 + 1,976 ---------- ---------- ---------- TOTAL ASSETS (505) 521,449 + 3,183 + 32,906 LIABILITIES Federal Reserve notes 472,955 + 2,574 + 34,883 Deposits Depository institutions 16,380 - 1,570 - 2,724 U.S. Treasury--general account 4,895 - 396 - 279 Foreign--official accounts 189 - 7 + 25 Other 397 - 29 + 17 ---------- ---------- ---------- Total deposits 21,861 - 2,004 - 2,961 Deferred availability cash items (505) 9,755 + 2,632 - 295 Other liabilities and accrued dividends 4 4,451 - 55 - 231 ---------- ---------- ---------- TOTAL LIABILITIES (505) 509,022 + 3,147 + 31,396 CAPITAL ACCOUNTS Capital paid in 5,915 0 + 663 Surplus 5,220 0 + 832 Other capital accounts 1,292 + 35 + 15 ---------------------------------------------------------------------------------------------------------------- * 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 Net of $ 19,255 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 599 million securities loaned--fully secured by U.S. government securities. 3 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of $ 170 million in Treasury bills maturing within 90 days. 4 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, OCTOBER 14, 1998 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 securities obligations -------------------------------------------- Loans Acceptances Weekly Weekly Holdings changes Holdings changes ---------------------------------------------------------------------------------------------------------------- Within 15 days 113 0 Within 15 days 17,052 + 3,814 4,570 + 1,730 16 days to 90 days 97 0 16 days to 90 days 93,953 + 162 50 0 Over 90 days 0 0 91 days to 1 year 136,315 - 6,240 85 0 Over 1 year to 5 years 105,789 0 68 - 15 Over 5 years to 10 years 41,629 0 185 0 Over 10 years 54,994 0 0 0 ---------- ---------- ---------- ---------- ---------- ---------- Total 210 0 Total 449,732 - 2,264 4,958 + 1,715 ---------------------------------------------------------------------------------------------------------------- Components may not add to totals due to rounding. 1 H.4.1 (b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 14, 1998 Millions of dollars ---------------------------------------------------------------------------------------------------------------------------------------------------------- | Total | Boston | New York| Phila. | Cleve.| Rich. |Atlanta| Chicago |S.Louis| Minneap.|KansasC| Dallas|San Fran. ----------------------------------------------------------------------------------------------------------------------- ASSETS Gold certificate account 11,044 582 4,204 323 643 807 717 998 358 128 289 530 1,465 Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241 Coin 411 19 19 16 21 44 66 58 20 15 31 52 51 Loans 210 0 0 0 0 0 3 14 22 40 27 1 104 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 388 21 144 11 25 31 24 37 14 4 11 18 49 Held under repurchase agreements 1 4,570 0 4,570 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 196,445 10,699 72,810 5,711 12,767 15,475 11,950 18,859 6,903 2,158 5,449 8,932 24,730 Notes 184,188 10,031 68,267 5,355 11,971 14,509 11,204 17,682 6,473 2,023 5,109 8,375 23,187 Bonds 67,054 3,652 24,853 1,950 4,358 5,282 4,079 6,437 2,356 737 1,860 3,049 8,441 ----------------------------------------------------------------------------------------------------------------------- Total bought outright 2 447,687 24,382 165,931 13,016 29,096 35,266 27,233 42,979 15,732 4,918 12,419 20,356 56,358 Held under repurchase agreements 1 2,045 0 2,045 0 0 0 0 0 0 0 0 0 0 ----------------------------------------------------------------------------------------------------------------------- Total U.S. govt. securities 449,732 24,382 167,976 13,016 29,096 35,266 27,233 42,979 15,732 4,918 12,419 20,356 56,358 ----------------------------------------------------------------------------------------------------------------------- Total loans and securities 454,899 24,403 172,689 13,027 29,122 35,297 27,260 43,029 15,767 4,963 12,456 20,375 56,511 Items in process of collection 12,105 718 1,368 684 798 879 1,232 768 450 981 814 600 2,813 Bank premises 1,296 93 159 50 157 125 79 107 31 131 54 149 160 Other assets 3 32,999 1,594 9,758 1,425 2,013 3,972 2,040 3,165 886 838 794 1,553 4,958 Interdistrict settlement account 0 -2,622 +22,043 -1,137 -4,498 -3,629 -746 -1,547 -2,127 +287 +902 +2,414 -9,342 ----------------------------------------------------------------------------------------------------------------------- TOTAL ASSETS 521,954 25,317 213,442 14,671 28,830 38,288 31,250 47,478 15,726 7,465 15,588 26,041 57,858 ----------------------------------------------------------------------------------------------------------------------- 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 Net of $ 19,255 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 599 million securities loaned--fully secured by U.S. government securities. 3 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of $ 170 million in Treasury bills maturing within 90 days. Components may not add to totals due to rounding. 1 H.4.1 (c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 14, 1998 Millions of dollars ---------------------------------------------------------------------------------------------------------------------------------------------------------- | Total | Boston | New York| Phila. | Cleve.| Rich. |Atlanta| Chicago |S.Louis| Minneap.|KansasC| Dallas|San Fran. ----------------------------------------------------------------------------------------------------------------------- LIABILITIES Federal Reserve notes 472,955 23,117 199,552 12,912 26,114 33,655 27,378 42,309 14,298 5,546 14,032 23,574 50,469 Deposits Depository institutions 16,380 856 3,669 783 1,201 875 1,481 2,676 590 556 482 1,224 1,986 U.S. Treasury--general account 4,895 0 4,895 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 189 7 74 8 9 22 9 14 3 5 3 7 26 Other 397 3 106 1 3 98 3 172 0 0 8 1 3 ----------------------------------------------------------------------------------------------------------------------- Total deposits 21,861 866 8,744 792 1,213 996 1,494 2,862 594 561 494 1,232 2,015 Deferred credit items 10,260 526 1,082 307 392 911 1,100 744 400 868 617 494 2,821 Other liabilities and accrued dividends 1 4,451 247 1,502 162 282 365 304 428 178 84 156 210 532 ----------------------------------------------------------------------------------------------------------------------- TOTAL LIABILITIES 509,527 24,755 210,879 14,171 28,001 35,926 30,276 46,343 15,469 7,059 15,298 25,512 55,837 CAPITAL ACCOUNTS Capital paid in 5,915 268 1,186 213 398 1,161 472 546 120 200 138 234 980 Surplus 5,220 254 1,055 273 335 818 338 502 122 189 119 271 945 Other capital accounts 1,292 40 321 14 96 383 164 88 16 17 33 24 96 ----------------------------------------------------------------------------------------------------------------------- ACCOUNTS 521,954 25,317 213,442 14,671 28,830 38,288 31,250 47,478 15,726 7,465 15,588 26,041 57,858 ---------------------------------------------------------------------------------------------------------------------------------------------------------- FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 585,227 27,815 239,803 16,056 30,631 42,345 36,686 52,981 17,024 7,292 16,688 29,886 68,019 Less--Held by F.R. Banks 112,272 4,698 40,251 3,144 4,517 8,690 9,308 10,672 2,727 1,746 2,656 6,312 17,550 ----------------------------------------------------------------------------------------------------------------------- F.R. notes, net 472,955 23,117 199,552 12,912 26,114 33,655 27,378 42,309 14,298 5,546 14,032 23,574 50,469 Collateral held against F.R. notes Gold certificate account 11,044 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 452,711 ------------ Total collateral 472,955 ----------------------------------------------------------------------------------------------------------------------- 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.