Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page

Release Date: December 19, 1996

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 ________________________________________________________________________________________________________________
 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

                                                                                              December 19, 1996
 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    Dec 18, 1996  Dec 11, 1996  Dec 20, 1995  Dec 18, 1996
 ________________________________________________________________________________________________________________
 Reserve Bank credit 1 2                                      440,502    +    5,842    +   18,560       452,789
   U.S. government securities
     Bought outright--system account                          392,786    -      358    +   13,907       392,587
     Held under repurchase agreements                          11,764    +    5,258    +    6,916        22,621
   Federal agency obligations
     Bought outright                                            2,225    -        9    -      412         2,225
     Held under repurchase agreements                             492    -      902    +      492         1,154
   Acceptances                                                      0             0             0             0
   Loans to depository institutions
     Adjustment credit                                             85    +       81    -      431           178
     Seasonal credit                                               68    +        2    +       26            70
     Extended credit                                                0             0             0             0
   Float                                                        1,316    +      598    -    1,454         2,003
   Other F.R. assets                                           31,766    +    1,172    -      483        31,951
 Gold stock                                                    11,048             0    -        2        11,049
 Special drawing rights certificate account                     9,718             0    -      450         9,718
 Treasury currency outstanding                                 24,920    +       14    +      949        24,920
                                                         --------------------------------------------------------
         Total factors supplying reserve funds                486,188    +    5,855    +   19,057       498,476

 Currency in circulation*                                     442,426    +      559    +   23,590       444,434
 Treasury cash holdings*                                          257    -        6    -       14           249
 Deposits, other than reserve balances, with F.R. Banks
   Treasury                                                     7,169    +    2,243    -    1,464         9,989
   Foreign                                                        175    +        6    -       34           163
   Service-related balances and adjustments 3                   7,124    +      240    +    1,445         7,124
   Other                                                          353    +       14    +       48           358
 Other F.R. liabilities and capital                            14,653    +      504    +    1,489        14,464
                                                         --------------------------------------------------------
         Total factors, other than reserve balances,
         absorbing reserve funds                              472,157    +    3,560    +   25,061       476,782

 Reserve balances with F.R. Banks 4                            14,031    +    2,295    -    6,005        21,694
 ----------------------------------------------------------------------------------------------------------------
 On   December 18, 1996, the face amount of marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign
 official and international accounts was $     612,387 million, a change of - $     1,328 million for the week.  The total includes the face
 value of U.S. Treasury strips and other zero coupon bonds.
 1 Net of $    12,827 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which
   a net of $    12,827 million was with foreign official and international accounts.  Includes securities loaned--fully secured by U.S.
   government securities.
 2 Net of $    13,026 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of
   $    13,026 million was with foreign official and international accounts.  Includes $        10 million securities loaned--fully
   secured U.S. government securities.
 3 Consists of required clearing balances of $     6,641 million and adjustments of $       483 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
                                                                   Dec 18, 1996    Dec 11, 1996    Dec 20, 1995
                                                 ----------------------------------------------------------------
                     ASSETS
 Gold certificate account                                               11,049      +        1      -        1
 Special drawing rights certificate account                              9,718               0      -      450
 Coin                                                                      624      +        6      +      178

 Loans                                                                     248      +      178      -    3,228
 Acceptances                                                                 0               0               0
 Federal agency obligations
   Bought outright                                                       2,225               0      -      412
   Held under repurchase agreements 1                                    1,154      -      369      +    1,154
 U.S. government securities
   Bought outright--Bills                                              192,326      -      720      +    8,969
                    Notes                                              150,922               0      -       91
                    Bonds                                               49,339               0      +    5,270
                                                                    ----------      ----------      ----------
     Total bought outright 2                                           392,587      -      720      +   14,148
   Held under repurchase agreements 1                                   22,621      +   16,702      +   14,386
                                                                    ----------      ----------      ----------
       Total U.S. government securities                                415,208      +   15,982      +   28,534
                                                                    ----------      ----------      ----------
         Total loans and securities                                    418,835      +   15,791      +   26,047

 Items in process of collection                          (436)           8,940      +    1,781      -    1,340
 Bank premises                                                           1,230               0      +       78
 Other assets 3                                                         31,631      +    1,842      +      402
                                                                    ----------      ----------      ----------
           TOTAL ASSETS                                  (436)         482,027      +   19,420      +   24,914

                   LIABILITIES
 Federal Reserve notes                                                 420,386      +    1,713      +   22,327
 Deposits
   Depository institutions                                              30,003      +   11,977      +    1,835
   U.S. Treasury--general account                                        9,989      +    5,092      -    1,394
   Foreign--official accounts                                              163      -        5      -       57
   Other                                                  (-1)             358      +        8      +       50
                                                                    ----------      ----------      ----------
     Total deposits                                       (-1)          40,514      +   17,072      +      434
 Deferred availability cash items                        (438)           6,662      +      406      +      647
 Other liabilities and accrued dividends 4                               4,928      +      209      +      337
                                                                    ----------      ----------      ----------
           TOTAL LIABILITIES                             (436)         472,491      +   19,400      +   23,745

                CAPITAL ACCOUNTS
 Capital paid in                                                         4,578      -        7      +      616
 Surplus                                                                 3,860               0      +      177
 Other capital accounts                                                  1,098      +       27      +      376
 ----------------------------------------------------------------------------------------------------------------
 * 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 $    13,026 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes
   $        10 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 $       156 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, DECEMBER 18, 1996
 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             246          0  Within 15 days                32,225 +   11,603      1,434 -       89
 16 days to 90 days           3          0  16 days to 90 days            90,145 -    1,690        694 -      270
 Over 90 days                 0          0  91 days to 1 year            121,717 +    6,068        249          0
                                            Over 1 year to 5 years        95,513          0        520          0
                                            Over 5 years to 10 years      33,782          0        457 -       10
                                            Over 10 years                 41,826          0         25          0
                     ---------- ----------                            ---------- ---------- ---------- ----------
   Total                    248          0    Total                      415,208 +   15,982      3,379 -      369
 ----------------------------------------------------------------------------------------------------------------
 Components may not add to totals due to rounding.
1

 H.4.1 (b)

 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 18, 1996
 Millions of dollars
 ----------------------------------------------------------------------------------------------------------------------------------------------------------  
                                    |   Total   | Boston | New York|  Phila. | Cleve.| Rich. |Atlanta| Chicago |S.Louis| Minneap.|KansasC| Dallas|San Fran.
                                    -----------------------------------------------------------------------------------------------------------------------
           ASSETS
 Gold certificate account                 11,049      661     4,050       423     624     919     769     1,140     474       168     321     433     1,067
 Special drawing rights certif. acct.      9,718      636     3,385       396     543     835     745       979     419       144     280     399       957
 Coin                                        624       17        23        45      27     116      87        70      31        20      60      50        77

 Loans                                       248        2       150        23       0       0       0         8       7        41      13       1         3
 Acceptances                                   0        0         0         0       0       0       0         0       0         0       0       0         0
 Federal agency obligations
   Bought outright                         2,225      131       827        86     131     184     148       241     104        34      70      80       188
   Held under repurchase agreements 1      1,154        0     1,154         0       0       0       0         0       0         0       0       0         0
 U.S. government securities
   Bought outright--Bills                192,326   11,316    71,525     7,444  11,304  15,948  12,835    20,843   9,010     2,901   6,024   6,887    16,289
                    Notes                150,922    8,880    56,127     5,841   8,870  12,515  10,072    16,356   7,070     2,276   4,727   5,404    12,783
                    Bonds                 49,339    2,903    18,349     1,910   2,900   4,091   3,293     5,347   2,311       744   1,545   1,767     4,179
                                    -----------------------------------------------------------------------------------------------------------------------
     Total bought outright 2             392,587   23,099   146,001    15,194  23,074  32,555  26,200    42,546  18,391     5,921  12,297  14,058    33,251
   Held under repurchase agreements 1     22,621        0    22,621         0       0       0       0         0       0         0       0       0         0
                                    -----------------------------------------------------------------------------------------------------------------------
       Total U.S. govt. securities       415,208   23,099   168,622    15,194  23,074  32,555  26,200    42,546  18,391     5,921  12,297  14,058    33,251
                                    -----------------------------------------------------------------------------------------------------------------------
         Total loans and securities      418,835   23,232   170,754    15,303  23,205  32,740  26,348    42,795  18,502     5,996  12,380  14,139    33,442

 Items in process of collection            9,376      677     1,327       342     443     868   1,243       676     445       615     609     535     1,595
 Bank premises                             1,230       94       150        49     106     128      82       110      31       111      56     155       160
 Other assets 3                           31,631    1,354    11,442     1,279   1,785   2,314   2,525     3,414     888       631   1,031   1,552     3,416
 Interdistrict settlement account              0   +1,749   -30,650    -2,347  +5,826  +3,942     +27      +207  -2,234      -748    -454  +2,708   +21,975
                                    -----------------------------------------------------------------------------------------------------------------------
           TOTAL ASSETS                  482,463   28,421   160,480    15,491  32,558  41,862  31,826    49,392  18,555     6,937  14,282  19,971    62,690
                                    -----------------------------------------------------------------------------------------------------------------------
 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 $    13,026 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $        10 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
   $       156 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 DECEMBER 18, 1996
 Millions of dollars
 ----------------------------------------------------------------------------------------------------------------------------------------------------------
                                    |   Total   | Boston | New York|  Phila. | Cleve.| Rich. |Atlanta| Chicago |S.Louis| Minneap.|KansasC| Dallas|San Fran.
                                    -----------------------------------------------------------------------------------------------------------------------
        LIABILITIES
 Federal Reserve notes                   420,386   25,165   136,913    13,507  29,656  38,376  27,131    44,121  16,613     5,415  12,260  15,212    56,016
 Deposits
   Depository institutions                30,003    2,136     8,320     1,028   1,736   1,742   2,597     2,947   1,224       762   1,067   3,477     2,967
   U.S. Treasury--general account          9,989        0     9,989         0       0       0       0         0       0         0       0       0         0
   Foreign--official accounts                163        6        58         7       9      11      14        17       4         4       5       9        20
   Other                                     357        1       125         1       3      57       3       158       1         2       2       2         2
                                    -----------------------------------------------------------------------------------------------------------------------
     Total deposits                       40,512    2,143    18,492     1,035   1,748   1,810   2,614     3,123   1,228       767   1,074   3,487     2,989
 Deferred credit items                     7,100      476       943       218     277     633     877       535     243       438     409     566     1,485
 Other liabilities and accrued
   dividends 1                             4,928      275     1,841       204     274     381     336       503     223       100     180     192       421
                                    -----------------------------------------------------------------------------------------------------------------------
     TOTAL LIABILITIES                   472,927   28,059   158,189    14,965  31,955  41,200  30,958    48,282  18,308     6,720  13,922  19,457    60,912

        CAPITAL ACCOUNTS
 Capital paid in                           4,578      170     1,051       257     292     318     425       537     114       106     174     254       879
 Surplus                                   3,860      166     1,028       185     252     284     379       460      95        96     148     240       527
 Other capital accounts                    1,098       25       211        84      59      60      65       113      38        14      38      20       371
                                    -----------------------------------------------------------------------------------------------------------------------
       ACCOUNTS                          482,463   28,421   160,480    15,491  32,558  41,862  31,826    49,392  18,555     6,937  14,282  19,971    62,690

 ----------------------------------------------------------------------------------------------------------------------------------------------------------
 FEDERAL RESERVE AGENTS' ACCOUNTS

 F.R. notes outstanding                  530,107   30,431   184,165    16,304  33,002  45,616  34,839    51,812  19,636     7,062  14,249  21,217    71,773
   Less--Held by F.R. Banks              109,721    5,265    47,252     2,796   3,346   7,240   7,708     7,691   3,023     1,647   1,990   6,005    15,757
                                    -----------------------------------------------------------------------------------------------------------------------
   F.R. notes, net                       420,386   25,165   136,913    13,507  29,656  38,376  27,131    44,121  16,613     5,415  12,260  15,212    56,016
 Collateral held against F.R. notes
   Gold certificate account               11,049
   Special drawing rights
     certificate account                   9,718
   Other eligible assets                       0
   U.S. govt. and agency securities      399,620
                                     ------------
     Total collateral                    420,386
                                    -----------------------------------------------------------------------------------------------------------------------
 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.


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Last update: December 19, 1996