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 11, 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 10, 1997 Sep 3, 1997 Sep 11, 1996 Sep 10, 1997 Reserve Bank Credit (1,2) 453,121 - 795 + 25,034 456,341 U.S. government securities Bought outright-system account (3) 409,868 + 283 + 22,329 409,814 Held under repurchase agreements 9,679 - 803 + 5,704 12,518 Federal agency obligations Bought outright 955 - 55 - 1,374 925 Held under repurchase agreements 1,819 - 345 + 60 2,508 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 62 - 100 + 29 0 Seasonal credit 372 - 39 + 81 368 Extended credit 0 0 0 0 Float 580 + 244 - 406 -16 Other F.R. assets 29,788 + 20 - 1,390 30,224 Gold stock 11,051 0 + 1 11,051 Special drawing rights certificate account 9,200 0 - 518 9,200 Treasury currency outstanding 25,475 + 14 + 742 25,475 Total factors supplying reserve funds 498,847 - 781 + 25,259 502,067 Currency in circulation* 460,098 + 271 + 26,692 460,288 Treasury cash holdings* 260 - 16 - 19 259 Deposits,other than reserve balances,with F.R.Banks Treasury 4,712 - 418 + 43 5,558 Foreign 174 - 35 + 1 156 Service-related balances and adjustments (4) 7,001 - 56 + 689 7,001 Other 338 - 6 - 13 343 Other F.R. liabilities and capital 16,055 - 22 + 2,141 15,829 Total factors, other than reserve balances, absorbing reserve funds 488,636 - 282 + 29,534 489,435 Reserve balances with F.R. Banks (5) 10,211 - 499 - 4,275 12,632 On September 10, 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 $ 644,140 million, a change of - $ 2,936 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 14,524 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 14,524 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 14,578 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 14,578 million was with foreign official and international accounts. Includes $ 133 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 $ 10 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 $ 241 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 10, 1997 Sep 3, 1997 Sep 11, 1996 ASSETS Gold certificate account 11,051 0 + 1 Special drawing rights certificate account 9,200 0 - 518 Coin 487 + 11 - 75 Loans 368 - 39 - 4 Acceptances 0 0 0 Federal agency obligations Bought outright 925 - 35 - 1,386 Held under repurchase agreements (1) 2,508 + 1,162 + 68 U.S. government securities Bought outright--Bills 195,027 - 167 + 8,121 Notes (2) 159,796 0 + 7,404 Bonds 54,991 0 + 7,123 Total bought outright (3) 409,814 - 167 + 22,648 Held under repurchase agreements (1) 12,518 + 1,588 + 5,118 Total U.S. government securities 422,332 + 1,422 + 27,766 Total loans and securities 426,133 + 2,509 + 26,444 Items in process of collection (458) 6,924 - 3,736 + 333 Bank premises 1,265 0 + 62 Other assets (4) 29,019 + 590 - 1,150 TOTAL ASSETS (458) 484,078 - 625 + 25,096 LIABILITIES Federal Reserve notes 435,560 - 1,036 + 26,151 Deposits Depository institutions 20,329 + 2,757 - 4,042 U.S. Treasury--general account 5,558 + 557 + 504 Foreign--official accounts 156 - 11 - 4 Other 343 - 13 - 8 Total deposits 26,386 + 3,291 - 3,549 Deferred availability cash items (458) 6,304 - 2,917 + 619 Other liabilities and accrued dividends (5) 4,928 + 25 + 487 TOTAL LIABILITIES (458) 473,178 - 637 + 23,707 CAPITAL ACCOUNTS Capital paid in 5,213 + 51 + 672 Surplus 4,496 0 + 529 Other capital accounts 1,191 - 39 + 188 *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 $ 10 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 14,578 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 133 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 10, 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 41 0 Within 15 days 24,078 + 95 2508 + 1127 16 days to 90 328 0 16 days to 90 days 87,123 + 81 106 0 Over 90 days 0 0 91 days to 1 year 138,359 + 1,245 202 + 48 Over 1 year to 5 years 90,373 0 338 - 13 Over 5 years to 10 years 37,657 0 255 - 35 Over 10 years 44,741 0 25 0 Total 368 0 Total 422,332 + 1,421 3433 + 1127 1 Includes $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 10 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 10, 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 487 13 19 53 29 68 63 55 21 19 35 47 65 Loans 368 0 0 0 0 0 13 55 86 155 51 5 3 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 925 56 299 31 64 88 62 99 37 13 26 34 116 Held under repurchase agreements(1) 2,508 0 2,508 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 195,027 11,889 63,082 6,520 13,490 18,556 13,014 20,802 7,768 2,716 5,569 7,083 24,538 Notes (2) 159,796 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) 409,814 24,983 132,555 13,700 28,347 38,992 27,347 43,713 16,322 5,707 11,702 14,883 51,561 Held under repurchase agreements(1) 12,518 0 12,518 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 422,332 24,983 145,073 13,700 28,347 38,992 27,347 43,713 16,322 5,707 11,702 14,883 51,561 Total loans and securities 426,133 25,040 147,880 13,731 28,411 39,080 27,422 43,866 16,445 5,876 11,779 14,922 51,680 Items in process of collection 7,382 432 1,015 226 287 449 965 692 216 519 408 490 1,681 Bank premises 1,265 94 153 50 120 126 77 108 30 141 55 151 159 Other assets(4) 29,019 1,231 8,803 1,368 1,768 2,233 2,280 3,148 811 562 949 1,337 4,529 Interdistrict settlement account 0 -2361 15297 -2336 -1040 -5753 -1573 -2411 -1944 -1284 -1035 3921 519 TOTAL ASSETS 484,536 25,603 180,308 13,725 30,818 37,959 30,559 47,427 16,320 6,102 12,725 21,695 61,295 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 $ 10 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 14,578 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 133 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 10, 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 435,560 23,325 165,596 11,741 28,318 33,521 27,282 42,718 14,947 4,198 11,066 19,132 53,716 Deposits Depository institutions 20,329 1,161 4,349 1,003 1,198 1,617 1,274 2,441 684 912 766 1,489 3,435 U.S. Treasury--general account 5,558 0 5,558 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 156 5 45 9 9 10 13 17 4 3 5 8 28 Other 343 1 101 0 5 111 2 119 0 2 1 1 1 Total deposits 26,386 1,167 10,053 1,012 1,213 1,737 1,289 2,576 688 917 773 1,498 3,464 Deferred credit items 6,762 427 757 214 227 625 898 555 251 509 412 323 1,563 Other liabilities and accrued dividends (1) 4,928 288 1,561 186 321 488 340 505 201 101 171 193 573 TOTAL LIABILITIES 473,636 25,207 177,967 13,154 30,079 36,371 29,808 46,354 16,087 5,725 12,422 21,146 59,316 CAPITAL ACCOUNTS Capital paid in 5,213 186 1,100 281 356 808 315 511 105 196 123 264 968 Surplus 4,496 168 1,023 268 286 310 415 524 112 104 171 250 865 Other capital accounts 1,191 42 217 23 98 470 21 37 16 78 9 34 146 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 484,536 25,603 180,308 13,725 30,818 37,959 30,559 47,427 16,320 6,102 12,725 21,695 61,295 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 546,727 29,585 207,072 15,342 32,829 40,291 36,140 50,684 17,401 5,887 13,202 25,871 72,421 Less--Held by F.R. Banks 111,167 6,260 41,477 3,601 4,511 6,771 8,858 7,966 2,454 1,690 2,135 6,739 18,706 F.R. notes, net 435,560 23,325 165,596 11,741 28,318 33,521 27,282 42,718 14,947 4,198 11,066 19,132 53,716 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 415,309 Total collateral 435,560 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.