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 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 Dec 3, 1997 Nov 26, 1997 Dec 4, 1996 Dec 3, 1997 Reserve Bank Credit (1,2) 467,322 + 6,586 + 29,788 472,150 U.S. government securities Bought outright-system account (3) 419,942 + 31 + 27,782 419,668 Held under repurchase agreements 12,575 + 5,174 + 3,295 17,947 Federal agency obligations Bought outright 685 0 - 1,552 685 Held under repurchase agreements 2,166 + 431 + 442 1,025 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 44 + 40 - 254 103 Seasonal credit 90 - 10 + 15 88 Extended credit 0 0 0 0 Float 631 + 656 - 108 1,333 Other F.R. assets 31,188 + 264 + 168 31,301 Gold stock 11,050 0 + 2 11,050 Special drawing rights certificate account 9,200 0 - 518 9,200 Treasury currency outstanding 25,596 + 14 + 666 25,596 Total factors supplying reserve funds 513,169 + 6,600 + 29,938 517,996 Currency in circulation* 471,868 + 3,607 + 30,287 472,809 Treasury cash holdings* 234 - 11 - 38 230 Deposits,other than reserve balances,with F.R.Banks Treasury 4,762 - 240 + 254 4,211 Foreign 173 + 5 + 4 173 Service-related balances and adjustments (4) 7,184 + 369 + 73 7,184 Other 410 + 71 + 100 330 Other F.R. liabilities and capital 15,603 - 542 + 1,427 15,383 Total factors, other than reserve balances, absorbing reserve funds 500,234 + 3,259 + 32,107 500,319 Reserve balances with F.R. Banks (5) 12,935 + 3,341 - 2,169 17,677 On December 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 624,477 million, a change of +$ 6,669 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 15,025 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 15,025 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 15,300 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 15,300 million was with foreign official and international accounts. Includes $ 90 million securities loaned--fully secured U.S. government securities. 3 Includes $ 1550 million of inflation-indexed securities valued at the original face amount and $ 19 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,718 million and adjustments of $ 466 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 Dec 3, 1997 Nov 26, 1997 Dec 4, 1996 ASSETS Gold certificate account 11,050 - 1 + 2 Special drawing rights certificate account 9,200 0 - 518 Coin 483 - 13 - 115 Loans 191 + 89 - 1,597 Acceptances 0 0 0 Federal agency obligations Bought outright 685 0 - 1,552 Held under repurchase agreements (1) 1,025 + 163 + 407 U.S. government securities Bought outright--Bills 194,304 - 751 + 3,763 Notes (2) 167,170 + 1 + 16,249 Bonds 58,193 0 + 8,854 Total bought outright (3) 419,668 - 750 + 28,865 Held under repurchase agreements (1) 17,947 + 5,926 + 4,546 Total U.S. government securities 437,615 + 5,176 + 33,411 Total loans and securities 439,515 + 5,428 + 30,669 Items in process of collection (472) 8,184 + 1,687 + 1,125 Bank premises 1,264 - 12 + 42 Other assets (4) 30,028 - 329 + 6 TOTAL ASSETS (472) 499,725 + 6,760 + 31,212 LIABILITIES Federal Reserve notes 447,926 + 1,304 + 29,353 Deposits Depository institutions 24,877 + 5,326 + 486 U.S. Treasury--general account 4,211 + 248 - 579 Foreign--official accounts 173 - 19 + 7 Other (16) 330 + 7 + 7 Total deposits (16) 29,590 + 5,561 - 78 Deferred availability cash items (456) 6,826 + 405 + 439 Other liabilities and accrued dividends (5) 4,900 + 47 + 288 TOTAL LIABILITIES (472) 489,242 + 7,317 + 30,001 CAPITAL ACCOUNTS Capital paid in 5,315 - 3 + 728 Surplus 4,386 - 3 + 526 Other capital accounts 782 - 551 - 44 *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 $ 1550 million of inflation-indexed securities valued at the original face amount and $ 19 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 15,300 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 90 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 $ 134 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, December 3, 1997 Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum majority of the agreements. Millions of dollars U.S. government Federal agency Loans Acceptances securities (1) obligations Weekly Weekly Holdings changes Holdings changes Within 15 days 114 0 Within 15 days 28,878 + 3,983 1,025 + 163 16 to 90 days 78 0 16 to 90 days 92,662 + 2,086 10 0 Over 90 days 0 0 91 days to 1 year 136,960 - 294 197 0 Over 1 to 5 years 91,728 - 600 198 0 Over 5 to 10 years 40,292 0 255 0 Over 10 years 47,094 0 25 0 Total 191 0 Total 437,615 + 5,176 1,710 + 163 1 Includes $ 1550 million of inflation-indexed securities valued at the original face amount and $ 19 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 December 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 483 26 19 56 27 65 49 57 16 20 35 40 74 Loans 191 2 0 0 0 100 0 11 13 34 29 0 2 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) 1,025 0 1,025 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 194,304 11,845 62,848 6,496 13,440 18,487 12,966 20,725 7,739 2,706 5,548 7,056 24,447 Notes (2) 167,170 10,191 54,071 5,589 11,563 15,906 11,155 17,831 6,658 2,328 4,773 6,071 21,033 Bonds 58,193 3,548 18,823 1,945 4,025 5,537 3,883 6,207 2,318 810 1,662 2,113 7,322 Total bought outright(3) 419,668 25,584 135,742 14,030 29,029 39,930 28,005 44,764 16,715 5,845 11,983 15,241 52,801 Held under repurchase agreements(1) 17,947 0 17,947 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 437,615 25,584 153,689 14,030 29,029 39,930 28,005 44,764 16,715 5,845 11,983 15,241 52,801 Total loans and securities 439,515 25,627 154,935 14,053 29,076 40,095 28,050 44,848 16,755 5,888 12,032 15,266 52,889 Items in process of collection 8,656 468 929 309 319 587 1,180 610 648 640 382 599 1,985 Bank premises 1,264 94 154 50 128 126 78 108 31 133 54 150 159 Other assets(4) 30,028 1,245 9,635 1,374 1,781 2,263 2,292 3,187 819 574 958 1,344 4,555 Interdistrict settlement account 0 -3,406 +13,359 -863 -694 -7,844 +443 -4,577 -1,169 -1,199 +1,343 +4,905 -298 TOTAL ASSETS 500,197 25,208 186,170 15,610 31,881 37,050 33,418 46,200 17,842 6,326 15,338 23,130 62,025 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 $ 1550 million of inflation-indexed securities valued at the original face amount and $ 19 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 15,300 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 90 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 $ 134 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 December 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 447,926 22,832 173,669 13,595 27,533 32,492 29,375 40,724 15,825 4,540 13,517 19,477 54,346 Deposits Depository institutions 24,877 1,296 3,448 1,048 3,080 1,847 2,033 3,169 1,319 755 974 2,540 3,367 U.S. Treasury--general account 4,211 0 4,211 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 173 5 62 9 9 10 13 17 4 3 5 8 28 Other 346 1 102 1 1 67 3 135 1 11 25 -3 4 Total deposits 29,606 1,303 7,823 1,058 3,090 1,924 2,049 3,320 1,324 769 1,004 2,545 3,398 Deferred credit items 7,282 403 893 223 249 582 917 618 250 542 356 394 1,855 Other liabilities and accrued dividends (1) 4,900 287 1,598 187 319 444 336 500 200 100 168 192 570 TOTAL LIABILITIES 489,714 24,825 183,983 15,063 31,191 35,443 32,677 45,163 17,598 5,950 15,046 22,608 60,169 CAPITAL ACCOUNTS Capital paid in 5,315 194 1,108 281 358 815 336 527 122 194 125 277 978 Surplus 4,386 164 999 262 279 303 405 511 109 101 165 244 845 Other capital accounts 782 26 80 5 54 490 0 0 12 81 1 1 33 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 500,197 25,208 186,170 15,610 31,881 37,050 33,418 46,200 17,842 6,326 15,338 23,130 62,025 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 548,856 28,541 207,723 16,825 31,396 38,914 37,944 48,545 17,894 6,362 15,583 26,207 72,920 Less--Held by F.R. Banks 100,930 5,709 34,054 3,230 3,863 6,421 8,569 7,821 2,069 1,823 2,066 6,730 18,574 F.R. notes, net 447,926 22,832 173,669 13,595 27,533 32,492 29,375 40,724 15,825 4,540 13,517 19,477 54,346 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 427,676 Total collateral 447,926 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.