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 November 13, 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 Nov 12, 1997 Nov 5, 1997 Nov 13, 1996 Nov 12, 1997 Reserve Bank Credit (1,2) 459,449 + 1,665 + 29,607 461,952 U.S. government securities Bought outright-system account (3) 413,593 + 1,888 + 20,012 414,289 Held under repurchase agreements 9,594 - 628 + 9,166 10,750 Federal agency obligations Bought outright 685 - 15 - 1,562 685 Held under repurchase agreements 1,502 + 146 + 1,274 1,573 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 1 - 131 - 6 1 Seasonal credit 113 - 30 + 4 111 Extended credit 0 0 0 0 Float 822 + 352 - 438 200 Other F.R. assets 33,139 + 83 + 1,158 34,343 Gold stock 11,050 0 + 1 11,050 Special drawing rights certificate account 9,200 0 - 518 9,200 Treasury currency outstanding 25,554 + 14 + 672 25,554 Total factors supplying reserve funds 505,254 + 1,680 + 29,763 507,756 Currency in circulation* 465,694 + 3,150 + 29,124 467,620 Treasury cash holdings* 248 + 9 - 30 248 Deposits,other than reserve balances,with F.R.Banks Treasury 5,338 + 113 + 433 5,508 Foreign 242 + 52 + 76 187 Service-related balances and adjustments (4) 7,021 + 55 + 227 7,021 Other 362 + 19 + 3 349 Other F.R. liabilities and capital 16,243 - 31 + 2,091 15,736 Total factors, other than reserve balances, absorbing reserve funds 495,148 + 3,367 + 31,925 496,669 Reserve balances with F.R. Banks (5) 10,106 - 1,688 - 2,162 11,087 On November 12, 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 $ 628,315 million, a change of + $ 1,880 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 15,769 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 15,769 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 15,903 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 15,903 million was with foreign official and international accounts. Includes $ 140 million securities loaned--fully secured U.S. government securities. 3 Includes $ 1,550 million of inflation-indexed securities valued at the original face amount and $ 16 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,767 million and adjustments of $ 254 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 Nov 12, 1997 Nov 5, 1997 Nov 13, 1996 ASSETS Gold certificate account 11,050 0 + 1 Special drawing rights certificate account 9,200 0 - 518 Coin 510 - 3 - 113 Loans 112 - 853 - 17 Acceptances 0 0 0 Federal agency obligations Bought outright 685 0 - 1,562 Held under repurchase agreements (1) 1,573 + 194 + 1,573 U.S. government securities Bought outright--Bills 193,702 - 209 + 198 Notes (2) 164,528 + 1,452 + 12,137 Bonds 56,059 0 + 8,190 Total bought outright (3) 414,289 + 1,243 + 20,524 Held under repurchase agreements (1) 10,750 - 2,065 + 10,750 Total U.S. government securities 425,039 - 822 + 31,274 Total loans and securities 427,408 - 1,482 + 31,268 Items in process of collection (461) 6,505 - 2,224 - 6,703 Bank premises 1,277 + 4 + 60 Other assets (4) 33,037 + 905 + 2,047 TOTAL ASSETS (461) 488,988 - 2,799 + 26,043 LIABILITIES Federal Reserve notes 442,824 + 3,086 + 28,781 Deposits Depository institutions 18,466 - 4,742 - 2,591 U.S. Treasury--general account 5,508 + 327 + 996 Foreign--official accounts 187 + 1 + 19 Other (-16) 349 - 3 + 3 Total deposits (-16) 24,510 - 4,416 - 1,574 Deferred availability cash items (477) 5,918 - 1,121 - 2,937 Other liabilities and accrued dividends (5) 4,743 - 84 + 275 TOTAL LIABILITIES (461) 477,994 - 2,535 + 24,546 CAPITAL ACCOUNTS Capital paid in 5,282 + 2 + 705 Surplus 4,389 0 + 528 Other capital accounts 1,323 - 267 + 264 *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 $ 1,550 million of inflation-indexed securities valued at the original face amount and $ 16 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 15,903 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 140 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 $ 147 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, NOVEMBER 12, 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 11 0 Within 15 days 27,580 - 160 1573 + 194 16 days to 90 101 0 16 days to 90 days 90,174 + 4,975 10 + 10 Over 90 days 0 0 91 days to 1 year 133,174 - 5,639 192 - 10 Over 1 year to 5 years 90,292 + 1 203 0 Over 5 years to 10 years 38,430 0 255 0 Over 10 years 45,389 0 25 0 Total 112 0 Total 425,039 - 822 2258 + 194 1 Includes $ 1,550 million of inflation-indexed securities valued at the original face amount and $ 16 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 NOVEMBER 12, 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 510 29 21 57 30 68 62 62 16 21 25 44 75 Loans 112 0 0 0 0 0 0 17 15 48 30 2 0 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 685 42 221 23 47 65 46 73 27 10 20 25 86 Held under repurchase agreements(1) 1,573 0 1,573 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 193,702 11,809 62,653 6,476 13,399 18,430 12,926 20,661 7,715 2,698 5,531 7,035 24,371 Notes (2) 164,528 10,030 53,217 5,500 11,381 15,654 10,979 17,549 6,553 2,291 4,698 5,975 20,700 Bonds 56,059 3,417 18,132 1,874 3,878 5,334 3,741 5,980 2,233 781 1,601 2,036 7,053 Total bought outright(3) 414,289 25,256 134,002 13,850 28,657 39,418 27,646 44,190 16,501 5,770 11,830 15,045 52,124 Held under repurchase agreements(1) 10,750 0 10,750 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 425,039 25,256 144,752 13,850 28,657 39,418 27,646 44,190 16,501 5,770 11,830 15,045 52,124 Total loans and securities 427,408 25,298 146,547 13,873 28,704 39,483 27,691 44,280 16,543 5,827 11,879 15,072 52,211 Items in process of collection 6,967 170 663 (19) 318 183 363 755 525 1,047 437 467 2,058 Bank premises 1,277 94 154 50 128 126 78 108 31 144 55 150 159 Other assets(4) 33,037 1,378 10,955 1,470 1,942 2,462 2,474 3,470 906 603 1,030 1,444 4,905 Interdistrict settlement account -0 -2732 19838 -2012 -2700 -7539 -372 -4627 -1783 -1601 799 3267 -539 TOTAL ASSETS 489,450 25,391 185,317 14,050 29,665 36,541 31,621 46,017 16,978 6,311 14,759 21,270 61,529 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 $ 1,550 million of inflation-indexed securities valued at the original face amount and $ 16 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 15,903 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 140 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 $ 147 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 NOVEMBER 12, 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 442,824 23,122 170,723 12,174 27,780 32,539 28,484 41,318 15,696 4,435 13,101 19,306 54,147 Deposits Depository institutions 18,466 1,292 4,224 658 704 1,554 1,663 2,350 567 670 799 955 3,031 U.S. Treasury--general account 5,508 0 5,508 0 (14) 0 0 0 0 0 0 0 0 Foreign--official accounts 187 5 76 9 9 10 13 17 4 3 5 8 28 Other 333 0 97 0 (10) 82 1 162 (2) 0 1 1 1 Total deposits 24,494 1,297 9,904 667 704 1,645 1,677 2,529 568 673 806 963 3,059 Deferred credit items 6,396 282 893 447 117 253 375 622 284 707 378 255 1,783 Other liabilities and accrued dividends (1) 4,743 283 1,462 186 314 451 333 494 197 102 168 191 562 TOTAL LIABILITIES 478,456 24,984 182,983 13,473 28,914 34,888 30,869 44,963 16,745 5,916 14,453 20,716 59,551 CAPITAL ACCOUNTS Capital paid in 5,282 194 1,107 287 365 812 316 515 110 198 125 276 977 Surplus 4,389 164 999 262 279 303 405 512 109 101 167 244 845 Other capital accounts 1,323 49 229 29 107 538 32 27 14 96 13 34 155 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 489,450 25,391 185,317 14,050 29,665 36,541 31,621 46,017 16,978 6,311 14,759 21,270 61,529 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 548,053 29,102 206,343 15,653 32,060 39,121 37,139 49,844 17,810 6,125 15,470 26,314 73,071 Less--Held by F.R. Banks 105,229 5,980 35,620 3,480 4,280 6,582 8,655 8,526 2,115 1,691 2,368 7,008 18,924 F.R. notes, net 442,824 23,122 170,723 12,174 27,780 32,539 28,484 41,318 15,696 4,435 13,101 19,306 54,147 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 422,574 Total collateral 442,824 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.