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 May 22, 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 May 21, 1997 May 14, 1997 May 22, 1996 May 21, 1997 Reserve Bank Credit (1,2) 442,278 - 7,920 + 25,334 446,929 U.S. government securities Bought outright-system account (3) 405,907 + 1,055 + 25,273 406,087 Held under repurchase agreements 4,843 - 6,487 + 2,528 8,068 Federal agency obligations Bought outright 1,970 0 - 474 1,970 Held under repurchase agreements 399 - 51 - 477 1,553 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 25 + 8 - 2 12 Seasonal credit 183 + 28 + 70 200 Extended credit 0 0 0 0 Float 380 + 333 - 13 174 Other F.R. assets 28,571 - 2,807 - 1,572 28,864 Gold stock 11,051 0 0 11,051 Special drawing rights certificate account 9,200 0 - 968 9,200 Treasury currency outstanding 25,271 + 14 + 849 25,271 Total factors supplying reserve funds 487,800 - 7,906 + 25,214 492,451 Currency in circulation* 448,323 + 247 + 28,586 449,651 Treasury cash holdings* 323 + 7 + 58 327 Deposits,other than reserve balances,with F.R.Banks Treasury 5,176 - 9,485 + 49 5,307 Foreign 166 - 6 - 58 163 Service-related balances and adjustments (4) 7,114 - 29 + 883 7,114 Other 360 + 13 - 5 370 Other F.R. liabilities and capital 15,046 - 116 + 2,117 14,827 Total factors, other than reserve balances, absorbing reserve funds 476,508 - 9,369 + 31,629 477,758 Reserve balances with F.R. Banks (5) 11,292 + 1,462 - 6,415 14,693 On May 21, 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 $ 641,666 million, a change of + $ 725 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 13,787 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 13,787 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 13,608 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 13,608 million was with foreign official and international accounts. Includes $ 116 million securities loaned--fully secured U.S. government securities. 3 Includes $ 750 million of inflation-indexed securities valued at the original face amount and $ 7 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,877 million and adjustments of $ 237 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 May 21, 1997 May 14, 1997 May 22, 1996 ASSETS Gold certificate account 11,051 0 0 Special drawing rights certificate account 9,200 0 - 968 Coin 566 - 25 - 3 Loans 213 + 22 + 71 Acceptances 0 0 0 Federal agency obligations Bought outright 1,970 0 - 474 Held under repurchase agreements (1) 1,553 + 1,139 - 314 U.S. government securities Bought outright--Bills 195,401 - 414 + 11,284 Notes (2) 157,770 0 + 7,668 Bonds 52,916 0 + 6,473 Total bought outright (3) 406,087 - 413 + 25,425 Held under repurchase agreements (1) 8,068 - 3,528 + 165 Total U.S. government securities 414,155 - 3,941 + 25,590 Total loans and securities 417,891 - 2,780 + 24,874 Items in process of collection (440) 6,191 - 30 + 803 Bank premises 1,243 0 + 72 Other assets (4) 27,711 - 2,728 - 1,604 TOTAL ASSETS (440) 473,853 - 5,563 + 23,175 LIABILITIES Federal Reserve notes 425,273 + 565 + 27,768 Deposits Depository institutions 22,103 + 5,435 - 7,708 U.S. Treasury--general account 5,307 - 11,531 + 401 Foreign--official accounts 163 + 5 - 12 Other 370 + 15 + 17 Total deposits 27,943 - 6,077 - 7,302 Deferred availability cash items (440) 5,811 + 122 + 687 Other liabilities and accrued dividends (5) 4,844 - 168 + 627 TOTAL LIABILITIES (440) 463,870 - 5,557 + 21,779 CAPITAL ACCOUNTS Capital paid in 4,815 + 7 + 716 Surplus 4,496 0 + 529 Other capital accounts 672 - 13 + 151 *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 $ 750 million of inflation-indexed securities valued at the original face amount and $ 7 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 13,608 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 116 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 $ 132 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, MAY 21, 1997 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 Loans Acceptances securities (1) obligations Weekly Weekly Holdings changes Holdings changes Within 15 day 187 0 Within 15 days 22,667 - 6,749 1860 + 1446 16 days to 90 26 0 16 days to 90 days 87,826 + 1,273 601 - 167 Over 90 days 0 0 91 days to 1 year 127,649 + 1,475 315 0 Over 1 year to 5 years 94,392 - 710 416 0 Over 5 years to 10 years 38,516 + 770 307 - 140 Over 10 years 43,105 0 25 0 Total 213 0 Total 414,155 - 3,941 3523 + 1139 1 Includes $ 750 million of inflation-indexed securities valued at the original face amount and $ 7 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 MAY 21, 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 566 16 27 66 28 86 57 73 27 27 49 41 70 Loans 213 8 0 3 0 0 7 37 42 75 28 4 10 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 1,970 120 637 66 136 187 131 210 78 27 56 72 248 Held under repurchase agreements(1) 1,553 0 1,553 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 195,401 11,912 63,203 6,532 13,516 18,592 13,039 20,842 7,783 2,721 5,580 7,096 24,585 Notes (2) 157,770 9,618 51,031 5,274 10,913 15,011 10,528 16,828 6,284 2,197 4,505 5,730 19,850 Bonds 52,916 3,226 17,116 1,769 3,660 5,035 3,531 5,644 2,108 737 1,511 1,922 6,658 Total bought outright(3) 406,087 24,756 131,349 13,576 28,089 38,638 27,098 43,315 16,174 5,655 11,596 14,748 51,092 Held under repurchase agreements(1) 8,068 0 8,068 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 414,155 24,756 139,417 13,576 28,089 38,638 27,098 43,315 16,174 5,655 11,596 14,748 51,092 Total loans and securities 417,891 24,884 141,607 13,645 28,226 38,825 27,237 43,562 16,294 5,757 11,680 14,823 51,350 Items in process of collection 6,631 500 763 269 264 526 634 570 249 495 327 454 1,580 Bank premises 1,243 95 153 50 112 127 73 109 30 128 56 152 159 Other assets(4) 27,711 1,178 8,009 1,343 1,711 2,176 2,234 3,072 778 545 926 1,309 4,430 Interdistrict settlement account -0 -1599 10274 -440 -762 -4457 -5393 -2665 -1621 -512 -738 4128 3787 TOTAL ASSETS 474,293 26,227 167,975 15,564 30,822 39,039 26,166 46,690 16,499 6,710 12,831 21,733 64,037 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 $ 750 million of inflation-indexed securities valued at the original face amount and $ 7 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 13,608 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 116 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 $ 132 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 MAY 21, 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 425,273 23,919 154,065 12,903 27,416 35,580 22,428 41,919 14,944 5,058 11,137 19,105 56,798 Deposits Depository institutions 22,103 1,164 3,887 1,652 2,271 1,588 1,706 2,463 900 818 827 1,588 3,239 U.S. Treasury--general account 5,307 0 5,307 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 163 5 52 9 9 10 13 17 4 3 5 8 28 Other 370 0 112 1 2 110 4 135 1 1 1 1 1 Total deposits 27,943 1,170 9,358 1,661 2,282 1,708 1,723 2,615 905 822 834 1,597 3,267 Deferred credit items 6,251 437 729 226 206 602 706 512 204 488 322 306 1,513 Other liabilities and accrued dividends (1) 4,844 287 1,538 187 320 435 341 501 199 105 170 191 570 TOTAL LIABILITIES 464,310 25,813 165,690 14,978 30,224 38,324 25,198 45,547 16,252 6,473 12,463 21,199 62,149 CAPITAL ACCOUNTS Capital paid in 4,815 196 1,075 288 290 341 474 554 115 117 180 262 924 Surplus 4,496 168 1,023 268 286 310 415 524 112 104 171 250 865 Other capital accounts 672 51 187 31 22 63 80 64 20 16 17 21 99 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 474,293 26,227 167,975 15,564 30,822 39,039 26,166 46,690 16,499 6,710 12,831 21,733 64,037 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 533,927 30,055 199,435 16,193 30,560 42,042 30,978 49,710 17,687 6,434 13,067 24,599 73,168 Less--Held by F.R. Banks 108,654 6,136 45,369 3,290 3,143 6,462 8,550 7,791 2,743 1,376 1,930 5,494 16,370 F.R. notes, net 425,273 23,919 154,065 12,903 27,416 35,580 22,428 41,919 14,944 5,058 11,137 19,105 56,798 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 405,022 Total collateral 425,273 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.