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 February 12, 1998 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 Feb 11, 1998 Feb 4, 1998 Feb 12, 1997 Feb 11, 1998 Reserve Bank Credit (1,2) 461,319 - 1,810 + 28,789 466,851 U.S. government securities Bought outright-system account (3) 427,093 - 711 + 35,426 429,481 Held under repurchase agreements 274 - 466 - 4,403 1,915 Federal agency obligations Bought outright 682 - 3 - 1,356 675 Held under repurchase agreements 163 - 580 - 2,408 1,140 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 25 - 66 + 6 2 Seasonal credit 9 0 - 10 14 Extended credit 0 0 0 0 Float 992 - 12 + 707 1,108 Other F.R. assets 32,082 + 28 + 827 32,517 Gold stock 11,046 0 - 3 11,047 Special drawing rights certificate account 9,200 0 - 200 9,200 Treasury currency outstanding 25,738 + 14 + 676 25,738 Total factors supplying reserve funds 507,303 - 1,796 + 29,262 512,836 Currency in circulation* 470,624 + 1,274 + 30,485 472,421 Treasury cash holdings* 223 + 2 - 38 227 Deposits,other than reserve balances,with F.R.Banks Treasury 5,062 - 634 + 234 4,401 Foreign 163 - 37 - 4 152 Service-related balances and adjustments (4) 7,118 - 159 - 154 7,118 Other 422 + 48 + 31 402 Other F.R. liabilities and capital 16,140 + 208 + 2,167 15,972 Total factors, other than reserve balances, absorbing reserve funds 499,753 + 702 + 32,721 500,692 Reserve balances with F.R. Banks (5) 7,550 - 2,498 - 3,459 12,144 On February 11, 1998, the face amount of marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts was 600,485 million, a change of -$ 1,993 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 18,190 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 15,978 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 15,802 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 15,802 million was with foreign official and international accounts. Includes $ 120 million securities loaned--fully secured U.S. government securities. 3 Includes $ 2050 million of inflation-indexed securities valued at the original face amount and $ 21 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,717 million and adjustments of $ 401 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 Feb 11, 1998 Feb 4, 1998 Feb 12, 1997 ASSETS Gold certificate account 11,047 + 1 - 3 Special drawing rights certificate account 9,200 0 - 200 Coin 578 + 18 - 145 Loans 16 - 295 - 15 Acceptances 0 0 0 Federal agency obligations Bought outright 675 - 10 - 1,364 Held under repurchase agreements (1) 1,140 + 1,140 - 1,959 U.S. government securities Bought outright--Bills 196,348 + 1,966 + 4,129 Notes (2) 173,726 - 1 + 23,061 Bonds 59,407 0 + 10,068 Total bought outright (3) 429,481 + 1,965 + 37,258 Held under repurchase agreements (1) 1,915 + 1,915 - 6,450 Total U.S. government securities 431,396 + 3,880 + 30,808 Total loans and securities 433,226 + 4,715 + 27,471 Items in process of collection (397) 8,000 - 236 + 1,888 Bank premises 1,277 + 3 + 34 Other assets (4) 31,175 + 626 + 727 TOTAL ASSETS (397) 494,502 + 5,128 + 29,772 LIABILITIES Federal Reserve notes 447,487 + 1,567 + 29,941 Deposits Depository institutions 19,746 + 4,128 - 2,044 U.S. Treasury--general account 4,401 - 391 - 734 Foreign--official accounts 152 - 13 - 29 Other 402 - 9 + 19 Total deposits 24,700 + 3,715 - 2,789 Deferred availability cash items (397) 6,343 - 521 + 776 Other liabilities and accrued dividends (5) 4,759 + 283 + 37 TOTAL LIABILITIES (397) 483,289 + 5,044 + 27,966 CAPITAL ACCOUNTS Capital paid in 5,472 - 6 + 769 Surplus 5,220 0 + 847 Other capital accounts 521 + 89 + 190 *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 $ 2050 million of inflation-indexed securities valued at the original face amount and $ 21 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 15,802 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 120 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 $ 170 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, February 11, 1998 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 5 0 Within 15 days 13,830 - 4,840 1,140 + 1,130 16 to 90 days 10 0 16 to 90 days 94,304 + 2,211 94 0 Over 90 days 0 0 91 days to 1 year 139,163 + 6,510 150 0 Over 1 to 5 years 94,484 0 151 0 Over 5 to 10 years 41,306 0 255 0 Over 10 years 48,308 0 25 0 Total 16 0 Total 431,396 + 3,880 1,815 + 1,130 1 Includes $ 2050 million of inflation-indexed securities valued at the original face amount and $ 21 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 February 11, 1998 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco ASSETS Gold certificate account 11,047 624 3,934 350 669 965 723 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 578 34 25 63 35 73 59 74 23 23 37 53 77 Loans 16 1 0 1 0 0 5 1 2 1 4 0 0 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 675 41 218 23 47 64 45 72 27 9 19 24 85 Held under repurchase agreements(1) 1,140 0 1,140 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 196,348 11,970 63,509 6,564 13,582 18,682 13,102 20,943 7,820 2,734 5,607 7,131 24,704 Notes (2) 173,726 10,591 56,192 5,808 12,017 16,529 11,593 18,530 6,919 2,419 4,961 6,309 21,858 Bonds 59,407 3,622 19,215 1,986 4,109 5,652 3,964 6,337 2,366 827 1,696 2,157 7,474 Total bought outright(3) 429,481 26,182 138,916 14,358 29,708 40,864 28,660 45,810 17,106 5,981 12,264 15,597 54,036 Held under repurchase agreements(1) 1,915 0 1,915 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 431,396 26,182 140,831 14,358 29,708 40,864 28,660 45,810 17,106 5,981 12,264 15,597 54,036 Total loans and securities 433,226 26,225 142,189 14,382 29,754 40,928 28,709 45,884 17,135 5,992 12,286 15,622 54,121 Items in process of collection 8,397 498 913 296 352 464 1,231 703 381 613 438 533 1,973 Bank premises 1,277 94 155 50 138 126 79 107 32 132 55 150 159 Other assets(4) 31,175 1,581 8,838 1,317 1,942 3,932 1,967 3,110 889 821 792 1,355 4,631 Interdistrict settlement account 0 -4,316 +31,616 -2,004 -2,300 -11,253 -1,525 -7,331 -1,706 -1,351 +581 +6,444 -6,855 TOTAL ASSETS 494,899 25,271 190,873 14,736 31,164 36,026 31,846 44,516 17,495 6,500 14,722 24,982 56,767 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 $ 2050 million of inflation-indexed securities valued at the original face amount and $ 21 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 15,802 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 120 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 $ 170 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 February 11, 1998 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco LIABILITIES Federal Reserve notes 447,487 22,306 177,555 12,471 28,800 31,671 28,241 39,880 15,974 4,889 13,134 22,564 50,002 Deposits Depository institutions 19,746 1,701 4,237 1,200 988 1,608 1,744 2,353 835 638 735 1,276 2,432 U.S. Treasury--general account 4,401 0 4,401 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 152 7 37 8 9 22 9 14 3 5 3 7 26 Other 402 0 134 1 3 78 2 174 1 0 3 2 4 Total deposits 24,700 1,709 8,809 1,208 1,000 1,708 1,756 2,540 839 644 741 1,285 2,462 Deferred credit items 6,740 418 764 230 308 503 775 515 234 482 400 366 1,745 Other liabilities and accrued dividends (1) 4,759 293 1,426 189 321 443 341 506 203 100 171 193 572 TOTAL LIABILITIES 483,686 24,726 188,553 14,098 30,429 34,326 31,113 43,441 17,251 6,115 14,446 24,407 54,781 CAPITAL ACCOUNTS Capital paid in 5,472 263 1,109 317 357 834 360 522 115 189 136 285 984 Surplus 5,220 254 1,055 273 335 818 338 502 122 189 119 271 945 Other capital accounts 521 29 156 48 43 49 34 51 8 7 21 18 58 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 494,899 25,271 190,873 14,736 31,164 36,026 31,846 44,516 17,495 6,500 14,722 24,982 56,767 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 548,318 27,618 207,878 16,295 32,363 38,767 37,291 48,553 18,169 6,558 15,470 28,761 70,595 Less--Held by F.R. Banks 100,831 5,312 30,324 3,824 3,563 7,096 9,050 8,673 2,195 1,668 2,337 6,197 20,593 F.R. notes, net 447,487 22,306 177,555 12,471 28,800 31,671 28,241 39,880 15,974 4,889 13,134 22,564 50,002 Collateral held against F.R. notes Gold certificate account 11,047 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 427,240 Total collateral 447,487 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.