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 April 9, 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 Apr 8, 1998 Apr 1, 1998 Apr 9, 1997 Apr 8, 1998 Reserve Bank Credit (1,2) 467,625 - 658 + 25,449 471,793 U.S. government securities Bought outright-system account (3) 433,534 + 435 + 32,742 434,497 Held under repurchase agreements 868 - 1,317 - 6,734 2,025 Federal agency obligations Bought outright 625 0 - 1,370 625 Held under repurchase agreements 421 - 4 - 480 983 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 139 + 138 + 139 939 Seasonal credit 30 + 2 - 33 30 Extended credit 0 0 0 0 Float 914 + 583 + 583 1,261 Other F.R. assets 31,093 - 494 + 602 31,433 Gold stock 11,049 0 - 2 11,049 Special drawing rights certificate account 9,200 0 0 9,200 Treasury currency outstanding 25,802 + 14 + 614 25,802 Total factors supplying reserve funds 513,676 - 644 + 26,061 517,844 Currency in circulation* 475,592 + 1,729 + 29,390 477,247 Treasury cash holdings* 261 - 3 - 22 276 Deposits,other than reserve balances,with F.R.Banks Treasury 5,044 + 12 + 218 4,382 Foreign 170 - 9 + 6 162 Service-related balances and adjustments (4) 6,907 + 60 - 54 6,907 Other 408 + 45 - 5 398 Other F.R. liabilities and capital 15,863 - 31 + 888 15,983 Total factors, other than reserve balances, absorbing reserve funds 504,245 + 1,804 + 30,420 505,356 Reserve balances with F.R. Banks (5) 9,430 - 2,448 - 4,359 12,488 On April 8, 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 617,213 million, a change of +$ 3,489 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 16,736 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 16,736 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 16,947 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 16,947 million was with foreign official and international accounts. Includes $ 30 million securities loaned--fully secured U.S. government securities. 3 Includes $ 2,050 million of inflation-indexed securities valued at the original face amount and $ 24 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,610 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 Apr 8, 1998 Apr 1, 1998 Apr 9, 1997 ASSETS Gold certificate account 11,049 0 - 2 Special drawing rights certificate account 9,200 0 0 Coin 510 - 10 - 143 Loans 969 + 941 + 898 Acceptances 0 0 0 Federal agency obligations Bought outright 625 0 - 1,370 Held under repurchase agreements (1) 983 - 45 - 688 U.S. government securities Bought outright--Bills 195,203 - 234 - 190 Notes (2) 177,806 + 1,370 + 23,279 Bonds 61,488 0 + 10,089 Total bought outright (3) 434,497 + 1,136 + 33,177 Held under repurchase agreements (1) 2,025 - 1,272 - 8,922 Total U.S. government securities 436,522 - 136 + 24,255 Total loans and securities 439,099 + 760 + 23,096 Items in process of collection (429) 8,483 + 467 + 1,946 Bank premises 1,283 + 4 + 39 Other assets (4) 30,154 + 516 + 741 TOTAL ASSETS (429) 499,778 + 1,738 + 25,676 LIABILITIES Federal Reserve notes 452,232 + 1,902 + 28,932 Deposits Depository institutions 19,604 - 1,123 - 6,153 U.S. Treasury--general account 4,382 + 848 + 936 Foreign--official accounts 162 - 24 + 1 Other 398 + 45 + 7 Total deposits 24,547 - 253 - 5,209 Deferred availability cash items (429) 7,016 - 501 + 832 Other liabilities and accrued dividends (5) 4,761 + 160 - 190 TOTAL LIABILITIES (429) 488,556 + 1,308 + 24,364 CAPITAL ACCOUNTS Capital paid in 5,488 + 17 + 698 Surplus 5,215 + 13 + 719 Other capital accounts 519 + 399 - 105 *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 $ 2,050 million of inflation-indexed securities valued at the original face amount and $ 24 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 16,947 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 30 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 $ 194 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, April 8, 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 942 0 Within 15 days 10,052 - 6,944 1,043 - 45 16 to 90 days 27 0 16 to 90 days 96,949 + 74 14 0 Over 90 days 0 0 91 days to 1 year 141,923 + 6,733 175 0 Over 1 to 5 years 97,095 0 126 0 Over 5 to 10 years 40,126 + 1 225 0 Over 10 years 50,376 0 25 0 Total 969 0 Total 436,522 - 136 1,608 - 45 1 Includes $ 2,050 million of inflation-indexed securities valued at the original face amount and $ 24 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 April 8, 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 11,049 624 3,936 350 669 965 723 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 31 32 55 31 64 39 68 15 24 43 35 74 Loans 969 3 300 11 0 620 9 10 3 6 2 0 4 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 625 38 202 21 43 59 42 67 25 9 18 23 79 Held under repurchase agreements(1) 983 0 983 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 195,203 11,900 63,139 6,526 13,502 18,573 13,026 20,821 7,775 2,719 5,574 7,089 24,560 Notes (2) 177,806 10,840 57,512 5,944 12,299 16,918 11,865 18,966 7,082 2,476 5,077 6,457 22,371 Bonds 61,488 3,748 19,888 2,056 4,253 5,850 4,103 6,559 2,449 856 1,756 2,233 7,736 Total bought outright(3) 434,497 26,488 140,538 14,526 30,055 41,341 28,994 46,345 17,305 6,051 12,407 15,779 54,667 Held under repurchase agreements(1) 2,025 0 2,025 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 436,522 26,488 142,563 14,526 30,055 41,341 28,994 46,345 17,305 6,051 12,407 15,779 54,667 Total loans and securities 439,099 26,529 144,049 14,558 30,098 42,020 29,045 46,422 17,334 6,066 12,427 15,802 54,749 Items in process of collection 8,912 536 1,036 301 554 707 1,092 610 367 617 612 442 2,038 Bank premises 1,283 94 157 50 142 126 81 107 32 132 54 150 159 Other assets(4) 30,154 1,521 8,551 1,280 1,877 3,815 1,897 3,027 854 803 734 1,315 4,477 Interdistrict settlement account 0 -4,060 +27,867 -2,302 -2,547 -10,372 -1,797 -5,217 -2,513 -428 +958 +7,221 -6,811 TOTAL ASSETS 500,207 25,804 188,829 14,574 31,399 38,118 31,682 46,986 16,829 7,484 15,362 25,791 57,347 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 $ 2,050 million of inflation-indexed securities valued at the original face amount and $ 24 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 16,947 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 30 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 $ 194 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 April 8, 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 452,232 22,507 176,721 12,725 29,057 33,272 27,998 42,079 15,459 5,425 13,663 23,173 50,153 Deposits Depository institutions 19,604 2,042 3,009 776 933 1,914 1,738 2,574 668 1,025 769 1,493 2,664 U.S. Treasury--general account 4,382 0 4,382 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 162 7 47 8 9 22 9 14 3 5 3 7 26 Other 398 3 97 0 3 96 1 196 0 0 1 1 1 Total deposits 24,547 2,052 7,535 784 945 2,033 1,748 2,783 672 1,031 773 1,501 2,690 Deferred credit items 7,445 462 797 249 324 641 857 541 251 553 483 350 1,936 Other liabilities and accrued dividends (1) 4,761 288 1,433 189 321 447 341 501 202 102 169 194 573 TOTAL LIABILITIES 488,985 25,309 186,486 13,947 30,648 36,392 30,944 45,905 16,584 7,111 15,089 25,218 55,352 CAPITAL ACCOUNTS Capital paid in 5,488 211 1,119 319 375 856 364 527 116 190 134 290 987 Surplus 5,215 254 1,055 273 335 818 338 502 122 183 119 271 945 Other capital accounts 519 31 168 35 41 53 36 52 8 0 21 12 63 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 500,207 25,804 188,829 14,574 31,399 38,118 31,682 46,986 16,829 7,484 15,362 25,791 57,347 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 555,850 26,971 216,243 15,694 32,087 39,768 36,248 50,651 17,663 6,811 15,770 28,463 69,481 Less--Held by F.R. Banks 103,618 4,464 39,522 2,969 3,030 6,496 8,251 8,572 2,204 1,386 2,107 5,290 19,327 F.R. notes, net 452,232 22,507 176,721 12,725 29,057 33,272 27,998 42,079 15,459 5,425 13,663 23,173 50,153 Collateral held against F.R. notes Gold certificate account 11,049 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 431,983 Total collateral 452,232 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.