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 16, 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 15, 1998 Apr 8, 1998 Apr 16, 1997 Apr 15, 1998 Reserve Bank Credit (1,2) 471,730 + 4,153 + 28,631 477,032 U.S. government securities Bought outright-system account (3) 436,436 + 2,902 + 35,254 440,277 Held under repurchase agreements 1,899 + 1,031 - 6,344 3,095 Federal agency obligations Bought outright 586 - 39 - 1,398 565 Held under repurchase agreements 787 + 366 + 102 1,958 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 14 - 125 - 36 2 Seasonal credit 31 + 1 - 44 37 Extended credit 0 0 0 0 Float 371 - 496 + 140 -241 Other F.R. assets 31,606 + 513 + 958 31,340 Gold stock 11,048 - 1 - 3 11,048 Special drawing rights certificate account 9,200 0 0 9,200 Treasury currency outstanding 25,816 + 14 + 614 25,816 Total factors supplying reserve funds 517,794 + 4,166 + 29,242 523,096 Currency in circulation* 477,195 + 1,603 + 30,568 478,416 Treasury cash holdings* 276 + 15 - 31 277 Deposits,other than reserve balances,with F.R.Banks Treasury 6,218 + 1,174 - 1,619 9,457 Foreign 183 + 13 + 7 163 Service-related balances and adjustments (4) 6,636 - 271 - 385 6,636 Other 383 - 25 - 18 344 Other F.R. liabilities and capital 16,223 + 360 + 1,191 16,107 Total factors, other than reserve balances, absorbing reserve funds 507,115 + 2,869 + 29,714 511,400 Reserve balances with F.R. Banks (5) 10,680 + 1,296 - 472 11,696 On April 15, 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 611,049 million, a change of -$ 6,164 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 17,589 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 17,589 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 16,039 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 16,039 million was with foreign official and international accounts. Includes $ 50 million securities loaned--fully secured U.S. government securities. 3 Includes $ 2,450 million of inflation-indexed securities valued at the original face amount and $ 25 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,515 million and adjustments of $ 121 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 15, 1998 Apr 8, 1998 Apr 16, 1997 ASSETS Gold certificate account 11,048 - 1 - 4 Special drawing rights certificate account 9,200 0 0 Coin 483 - 27 - 163 Loans 39 - 930 - 144 Acceptances 0 0 0 Federal agency obligations Bought outright 565 - 60 - 1,420 Held under repurchase agreements (1) 1,958 + 975 + 1,173 U.S. government securities Bought outright--Bills 199,660 + 4,457 + 4,495 Notes (2) 178,704 + 898 + 24,550 Bonds (3) 61,913 + 425 + 10,514 Total bought outright (4) 440,277 + 5,780 + 39,559 Held under repurchase agreements (1) 3,095 + 1,070 - 10,417 Total U.S. government securities 443,372 + 6,850 + 29,142 Total loans and securities 445,934 + 6,835 + 28,751 Items in process of collection (444) 7,629 - 854 - 261 Bank premises 1,283 0 + 37 Other assets (5) 30,055 - 99 + 512 TOTAL ASSETS (444) 505,633 + 5,855 + 28,872 LIABILITIES Federal Reserve notes 453,360 + 1,128 + 30,601 Deposits Depository institutions 18,927 - 677 + 5,419 U.S. Treasury--general account 9,457 + 5,075 - 8,427 Foreign--official accounts 163 + 1 - 15 Other 344 - 54 - 21 Total deposits 28,891 + 4,344 - 3,045 Deferred availability cash items (444) 7,275 + 259 + 206 Other liabilities and accrued dividends (6) 4,794 + 33 - 265 TOTAL LIABILITIES (444) 494,320 + 5,764 + 27,497 CAPITAL ACCOUNTS Capital paid in 5,504 + 16 + 713 Surplus 5,220 + 5 + 724 Other capital accounts 589 + 69 - 62 *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 $ 25 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Includes $ 400 million of inflation-indexed securities valued at the original face amount and $ 0 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,039 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 50 million securities loaned--fully secured by U.S. government securities. 5 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of $ 124 million in Treasury bills maturing within 90 days. 6 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 15, 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 18 0 Within 15 days 16,267 + 6,215 1,972 + 929 16 to 90 days 21 0 16 to 90 days 91,991 - 4,958 0 - 14 Over 90 days 0 0 91 days to 1 year 146,582 + 4,659 175 0 Over 1 to 5 years 97,135 + 40 126 0 Over 5 to 10 years 40,621 + 495 225 0 Over 10 years 50,776 + 400 25 0 Total 39 0 Total 443,372 + 6,850 2,523 + 915 1 Includes $ 2,450 million of inflation-indexed securities valued at the original face amount and $ 25 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 15, 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 11,048 582 4,208 323 643 807 717 998 358 128 289 530 1,465 Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241 Coin 483 28 32 50 29 57 41 65 15 23 43 32 68 Loans 39 3 0 2 0 0 5 14 4 8 2 0 0 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 565 31 209 16 37 44 34 54 20 6 16 26 71 Held under repurchase agreements(1) 1,958 0 1,958 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 199,660 10,874 74,002 5,805 12,976 15,728 12,146 19,168 7,016 2,193 5,539 9,078 25,135 Notes (2) 178,704 9,733 66,235 5,196 11,614 14,077 10,871 17,156 6,280 1,963 4,957 8,125 22,497 Bonds (3) 61,913 3,372 22,947 1,800 4,024 4,877 3,766 5,944 2,176 680 1,718 2,815 7,794 Total bought outright(4) 440,277 23,979 163,185 12,800 28,615 34,683 26,782 42,267 15,472 4,837 12,214 20,019 55,425 Held under repurchase agreements(1) 3,095 0 3,095 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 443,372 23,979 166,280 12,800 28,615 34,683 26,782 42,267 15,472 4,837 12,214 20,019 55,425 Total loans and securities 445,934 24,013 168,447 12,819 28,652 34,727 26,822 42,336 15,496 4,851 12,232 20,044 55,497 Items in process of collection 8,073 526 874 251 419 462 948 711 269 536 481 463 2,134 Bank premises 1,283 94 156 50 142 126 81 108 32 132 54 150 159 Other assets(5) 30,055 1,457 8,959 1,237 1,842 3,651 1,840 2,854 808 770 727 1,414 4,495 Interdistrict settlement account 0 -1,749 +8,236 -162 -233 -2,944 +735 -785 -435 +490 +1,247 +2,587 -6,988 TOTAL ASSETS 506,077 25,480 194,114 14,850 32,068 37,678 31,786 47,186 16,882 7,053 15,320 25,588 58,071 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 $ 25 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Includes $ 400 million of inflation-indexed securities valued at the original face amount and $ 0 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,039 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 50 million securities loaned--fully secured by U.S. government securities. 5 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of $ 124 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 15, 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 453,360 22,635 177,766 12,752 29,140 33,231 27,787 42,436 15,464 5,399 13,729 23,088 49,934 Deposits Depository institutions 18,927 1,560 1,983 1,029 1,377 1,679 2,094 2,467 720 625 687 1,261 3,447 U.S. Treasury--general account 9,457 0 9,457 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 163 7 48 8 9 22 9 14 3 5 3 7 26 Other 344 2 113 1 3 92 1 127 1 1 1 1 1 Total deposits 28,891 1,569 11,601 1,037 1,389 1,793 2,104 2,608 724 631 692 1,269 3,474 Deferred credit items 7,719 518 757 243 462 527 831 597 266 554 461 413 2,091 Other liabilities and accrued dividends (1) 4,794 264 1,634 174 308 389 320 464 185 91 165 227 574 TOTAL LIABILITIES 494,764 24,986 191,757 14,207 31,299 35,940 31,043 46,104 16,638 6,674 15,046 24,998 56,072 CAPITAL ACCOUNTS Capital paid in 5,504 211 1,123 320 375 857 368 528 116 190 134 295 987 Surplus 5,220 254 1,055 273 335 818 338 502 122 188 119 271 945 Other capital accounts 589 30 179 50 59 63 37 52 6 0 21 25 67 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 506,077 25,480 194,114 14,850 32,068 37,678 31,786 47,186 16,882 7,053 15,320 25,588 58,071 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 557,413 26,963 217,996 15,590 32,150 39,883 35,991 50,947 17,629 6,813 15,851 28,374 69,227 Less--Held by F.R. Banks 104,053 4,328 40,230 2,838 3,010 6,652 8,204 8,510 2,165 1,414 2,122 5,285 19,293 F.R. notes, net 453,360 22,635 177,766 12,752 29,140 33,231 27,787 42,436 15,464 5,399 13,729 23,088 49,934 Collateral held against F.R. notes Gold certificate account 11,048 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 433,112 Total collateral 453,360 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.