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 September 4, 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 Sep 3, 1997 Aug 27, 1997 Sep 4, 1996 Sep 3, 1997 Reserve Bank Credit (1,2) 453,918 + 3,121 + 25,742 454,875 U.S. government securities Bought outright-system account (3) 409,585 + 594 + 22,462 409,981 Held under repurchase agreements 10,482 + 1,790 + 5,489 10,930 Federal agency obligations Bought outright 1,010 - 20 - 1,326 960 Held under repurchase agreements 2,164 + 795 + 855 1,346 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 162 + 88 + 21 8 Seasonal credit 411 + 4 + 87 399 Extended credit 0 0 0 0 Float 337 + 11 - 375 1674 Other F.R. assets 29,768 - 141 - 1,471 29,577 Gold stock 11,050 0 0 11,050 Special drawing rights certificate account 9,200 0 - 518 9,200 Treasury currency outstanding 25,461 + 14 + 751 25,461 Total factors supplying reserve funds 499,630 + 3,134 + 25,975 500,587 Currency in circulation* 459,826 + 3,349 + 27,326 461,321 Treasury cash holdings* 275 - 8 - 2 260 Deposits,other than reserve balances,with F.R.Banks Treasury 5,131 + 265 - 216 5,001 Foreign 208 + 11 + 36 166 Service-related balances and adjustments (4) 7,057 - 39 + 794 7,057 Other 344 - 21 + 31 357 Other F.R. liabilities and capital 16,076 + 125 + 2,060 15,792 Total factors, other than reserve balances, absorbing reserve funds 488,918 + 3,681 + 30,030 489,954 Reserve balances with F.R. Banks (5) 10,712 - 546 - 4,054 10,633 On September 3, 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 $ 647,076 million, a change of + $ 3,508 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 14,807 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 14,807 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 14,411 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 14,411 million was with foreign official and international accounts. Includes $ 239 million securities loaned--fully secured U.S. government securities. 3 Includes $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 9 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,760 million and adjustments of $ 297 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 Sep 3, 1997 Aug 27, 1997 Sep 4, 1996 ASSETS Gold certificate account 11,050 0 + 1 Special drawing rights certificate account 9,200 0 - 518 Coin 475 - 16 - 56 Loans 407 - 31 - 218 Acceptances 0 0 0 Federal agency obligations Bought outright 960 - 70 - 1,376 Held under repurchase agreements (1) 1,346 - 1,004 - 149 U.S. government securities Bought outright--Bills 195,194 + 1,107 + 7,949 Notes (2) 159,795 0 + 7,404 Bonds 54,991 0 + 7,123 Total bought outright (3) 409,981 + 1,108 + 22,475 Held under repurchase agreements (1) 10,930 - 5,183 + 7,735 Total U.S. government securities 420,911 - 4,075 + 30,210 Total loans and securities 423,624 - 5,180 + 28,467 Items in process of collection (408) 10,660 + 4,117 + 462 Bank premises 1,264 - 1 + 67 Other assets (4) 28,429 - 745 - 1,474 TOTAL ASSETS (408) 484,704 - 1,825 + 26,949 LIABILITIES Federal Reserve notes 436,595 + 2,886 + 26,289 Deposits Depository institutions 17,571 - 7,597 - 1,597 U.S. Treasury--general account 5,001 - 199 - 824 Foreign--official accounts 166 + 4 - 5 Other 357 - 19 0 Total deposits 23,095 - 7,811 - 2,426 Deferred availability cash items (408) 9,221 + 3,123 + 935 Other liabilities and accrued dividends (5) 4,903 - 133 + 507 TOTAL LIABILITIES (408) 473,815 - 1,935 + 25,305 CAPITAL ACCOUNTS Capital paid in 5,163 + 12 + 644 Surplus 4,496 0 + 529 Other capital accounts 1,230 + 97 + 472 *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 $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 9 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 14,411 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 239 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 $ 117 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, SEPTEMBER 3, 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 139 0 Within 15 days 23,983 - 1,067 1381 - 1074 16 days to 90 269 0 16 days to 90 days 87,042 - 3,710 106 0 Over 90 days 0 0 91 days to 1 year 137,114 + 943 154 0 Over 1 year to 5 years 90,373 - 241 351 0 Over 5 years to 10 years 37,657 0 290 0 Over 10 years 44,741 0 25 0 Total 407 0 Total 420,911 - 4,075 2306 - 1074 1 Includes $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 9 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 SEPTEMBER 3, 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 11,050 624 3,937 350 669 965 723 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 475 13 17 54 26 68 59 55 21 17 35 48 62 Loans 407 0 0 0 0 0 12 64 93 161 58 6 13 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 960 59 311 32 66 91 64 102 38 13 27 35 121 Held under repurchase agreements(1) 1,346 0 1,346 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 195,194 11,900 63,136 6,525 13,502 18,572 13,025 20,820 7,774 2,718 5,574 7,089 24,559 Notes (2) 159,795 9,742 51,686 5,342 11,053 15,204 10,663 17,045 6,364 2,225 4,563 5,803 20,105 Bonds 54,991 3,352 17,787 1,838 3,804 5,232 3,670 5,866 2,190 766 1,570 1,997 6,919 Total bought outright(3) 409,981 24,993 132,609 13,706 28,359 39,008 27,358 43,730 16,329 5,710 11,707 14,889 51,582 Held under repurchase agreements(1) 10,930 0 10,930 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 420,911 24,993 143,539 13,706 28,359 39,008 27,358 43,730 16,329 5,710 11,707 14,889 51,582 Total loans and securities 423,624 25,052 145,195 13,738 28,425 39,100 27,434 43,897 16,460 5,884 11,792 14,930 51,716 Items in process of collection 11,068 659 1,233 558 525 799 1,043 910 457 938 708 618 2,620 Bank premises 1,264 94 153 50 120 126 77 108 30 142 55 151 159 Other assets(4) 28,429 1,212 8,405 1,358 1,748 2,219 2,258 3,115 798 557 941 1,326 4,493 Interdistrict settlement account -0 -1980 15711 -2243 -1239 -5864 -1105 -2592 -2155 -1911 -1805 3900 1282 TOTAL ASSETS 485,112 26,204 177,855 14,147 30,847 38,205 31,091 47,463 16,353 5,896 12,259 21,798 62,993 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 $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 9 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 14,411 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 239 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 $ 117 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 SEPTEMBER 3, 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 436,595 23,586 164,368 11,885 28,527 34,112 27,656 42,715 15,049 4,287 10,446 19,395 54,569 Deposits Depository institutions 17,571 1,303 3,277 1,041 883 1,196 1,402 2,176 494 350 796 1,106 3,548 U.S. Treasury--general account 5,001 0 5,001 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 166 5 55 9 9 10 13 17 4 3 5 8 28 Other 357 6 101 1 4 118 2 118 0 2 2 1 2 Total deposits 23,095 1,314 8,435 1,050 896 1,324 1,417 2,310 498 355 803 1,115 3,577 Deferred credit items 9,629 618 1,152 450 362 773 922 856 366 779 532 534 2,285 Other liabilities and accrued dividends (1) 4,903 292 1,559 188 322 446 341 510 202 104 171 193 574 TOTAL LIABILITIES 474,223 25,810 175,513 13,574 30,107 36,656 30,336 46,392 16,115 5,524 11,952 21,238 61,005 CAPITAL ACCOUNTS Capital paid in 5,163 186 1,100 281 356 746 315 503 111 196 126 275 968 Surplus 4,496 168 1,023 268 286 310 415 524 112 104 171 250 865 Other capital accounts 1,230 41 219 25 98 492 26 44 15 72 10 35 154 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 485,112 26,204 177,855 14,147 30,847 38,205 31,091 47,463 16,353 5,896 12,259 21,798 62,993 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 546,205 29,701 206,638 15,367 32,786 40,406 36,218 50,657 17,443 5,916 12,553 25,683 72,839 Less--Held by F.R. Banks 109,609 6,114 42,270 3,482 4,258 6,294 8,562 7,942 2,394 1,628 2,107 6,288 18,270 F.R. notes, net 436,595 23,586 164,368 11,885 28,527 34,112 27,656 42,715 15,049 4,287 10,446 19,395 54,569 Collateral held against F.R. notes Gold certificate account 11,050 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 416,345 Total collateral 436,595 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.