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 June 19, 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 Jun 18, 1997 Jun 11, 1997 Jun 19, 1996 Jun 18, 1997 Reserve Bank Credit (1,2) 447,544 + 4,108 + 24,674 450,750 U.S. government securities Bought outright-system account (3) 407,195 + 1,519 + 24,338 407,451 Held under repurchase agreements 6,331 + 1,819 + 913 9,211 Federal agency obligations Bought outright 1,496 - 148 - 892 1,496 Held under repurchase agreements 659 - 626 + 403 966 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 9 - 15 - 576 9 Seasonal credit 221 + 31 + 28 268 Extended credit 0 0 0 0 Float 1275 + 936 + 963 727 Other F.R. assets 30,357 + 592 - 504 30,623 Gold stock 11,050 0 - 1 11,050 Special drawing rights certificate account 9,200 0 - 968 9,200 Treasury currency outstanding 25,327 + 14 + 833 25,327 Total factors supplying reserve funds 493,120 + 4,121 + 24,539 496,327 Currency in circulation* 451,831 + 213 + 28,603 452,485 Treasury cash holdings* 344 0 + 58 344 Deposits,other than reserve balances,with F.R.Banks Treasury 6,831 + 1,577 + 809 9,050 Foreign 172 0 - 1 167 Service-related balances and adjustments (4) 7,179 + 82 + 1,061 7,179 Other 374 + 6 + 38 371 Other F.R. liabilities and capital 15,198 - 549 + 1,893 14,940 Total factors, other than reserve balances, absorbing reserve funds 481,927 + 1,330 + 32,463 484,536 Reserve balances with F.R. Banks (5) 11,193 + 2,791 - 7,924 11,791 On June 18, 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 $ 641,936 million, a change of - $ 5,101 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 14,149 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 14,149 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 13,894 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 13,894 million was with foreign official and international accounts. Includes $ 30 million securities loaned--fully secured U.S. government securities. 3 Includes $ 750 million of inflation-indexed securities valued at the original face amount and $ 8 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,972 million and adjustments of $ 206 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 Jun 18, 1997 Jun 11, 1997 Jun 19, 1996 ASSETS Gold certificate account 11,050 0 - 1 Special drawing rights certificate account 9,200 0 - 968 Coin 511 - 1 - 31 Loans 276 - 21 - 3,575 Acceptances 0 0 0 Federal agency obligations Bought outright 1,496 - 100 - 892 Held under repurchase agreements (1) 966 - 669 + 771 U.S. government securities Bought outright--Bills 195,115 + 728 + 8,899 Notes (2) 159,420 + 1,649 + 9,318 Bonds 52,916 0 + 6,473 Total bought outright (3) 407,451 + 2,377 + 24,690 Held under repurchase agreements (1) 9,211 + 3,452 - 3,500 Total U.S. government securities 416,662 + 5,829 + 21,190 Total loans and securities 419,401 + 5,039 + 17,495 Items in process of collection (534) 7,182 + 1,053 + 798 Bank premises 1,249 + 2 + 67 Other assets (4) 29,525 + 647 - 582 TOTAL ASSETS (534) 478,117 + 6,740 + 16,777 LIABILITIES Federal Reserve notes 428,014 - 12 + 27,846 Deposits Depository institutions 19,310 + 2,005 - 16,146 U.S. Treasury--general account 9,050 + 4,274 + 2,909 Foreign--official accounts 167 - 21 0 Other 371 + 10 + 45 Total deposits 28,898 + 6,268 - 13,193 Deferred availability cash items (534) 6,265 + 559 + 325 Other liabilities and accrued dividends (5) 4,858 - 81 + 443 TOTAL LIABILITIES (534) 468,035 + 6,734 + 15,421 CAPITAL ACCOUNTS Capital paid in 4,891 + 18 + 744 Surplus 4,496 0 + 529 Other capital accounts 695 - 12 + 83 *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 $ 750 million of inflation-indexed securities valued at the original face amount and $ 8 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 13,894 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 $ 148 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, JUNE 18, 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 243 0 Within 15 days 22,065 + 5,345 1226 - 509 16 days to 90 34 0 16 days to 90 days 89,905 - 1,610 296 - 208 Over 90 days 0 0 91 days to 1 year 127,871 + 939 210 - 35 Over 1 year to 5 years 95,199 + 1,155 416 0 Over 5 years to 10 years 38,517 0 290 - 17 Over 10 years 43,105 0 25 0 Total 276 0 Total 416,662 + 5,829 2462 - 769 1 Includes $ 750 million of inflation-indexed securities valued at the original face amount and $ 8 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 JUNE 18, 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 511 15 20 61 25 78 57 66 25 24 42 39 59 Loans 276 7 0 3 0 0 10 52 45 106 37 5 11 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 1,496 91 484 50 103 142 100 160 60 21 43 54 188 Held under repurchase agreements(1) 966 0 966 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 195,115 11,895 63,110 6,523 13,496 18,565 13,020 20,812 7,771 2,717 5,571 7,086 24,549 Notes (2) 159,420 9,719 51,565 5,330 11,027 15,168 10,638 17,004 6,350 2,220 4,552 5,790 20,058 Bonds 52,916 3,226 17,116 1,769 3,660 5,035 3,531 5,644 2,108 737 1,511 1,922 6,658 Total bought outright(3) 407,451 24,839 131,790 13,621 28,184 38,768 27,190 43,461 16,228 5,674 11,634 14,797 51,264 Held under repurchase agreements(1) 9,211 0 9,211 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 416,662 24,839 141,001 13,621 28,184 38,768 27,190 43,461 16,228 5,674 11,634 14,797 51,264 Total loans and securities 419,401 24,937 142,451 13,675 28,287 38,910 27,299 43,672 16,333 5,801 11,714 14,857 51,463 Items in process of collection 7,716 473 1,020 302 337 637 829 632 338 585 354 459 1,751 Bank premises 1,249 94 153 50 114 126 75 109 30 130 56 151 159 Other assets(4) 29,525 1,267 8,638 1,415 1,821 2,305 2,358 3,275 832 576 978 1,380 4,679 Interdistrict settlement account -0 -2274 19314 -1554 -1451 -5459 -6221 -3596 -1998 -942 -1180 2654 2706 TOTAL ASSETS 478,651 25,667 178,736 14,581 30,376 38,356 25,723 46,127 16,301 6,444 12,497 20,366 63,477 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 $ 750 million of inflation-indexed securities valued at the original face amount and $ 8 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 13,894 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 $ 148 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 JUNE 18, 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 428,014 23,604 161,644 12,463 27,709 34,806 22,037 40,751 14,760 4,958 10,894 18,067 56,321 Deposits Depository institutions 19,310 949 3,175 1,081 1,499 1,421 1,846 2,900 879 514 758 1,182 3,106 U.S. Treasury--general account 9,050 0 9,050 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 167 5 56 9 9 10 13 17 4 3 5 8 28 Other 371 1 108 1 2 95 11 149 1 1 1 1 1 Total deposits 28,898 955 12,389 1,090 1,510 1,526 1,870 3,066 884 518 764 1,190 3,135 Deferred credit items 6,799 413 871 255 233 622 730 658 211 549 339 380 1,538 Other liabilities and accrued dividends (1) 4,858 288 1,515 189 320 446 339 510 200 105 171 192 582 TOTAL LIABILITIES 468,569 25,260 176,419 13,997 29,773 37,400 24,976 44,985 16,055 6,130 12,169 19,830 61,576 CAPITAL ACCOUNTS Capital paid in 4,891 192 1,095 287 289 538 311 553 116 166 150 263 931 Surplus 4,496 168 1,023 268 286 310 415 524 112 104 171 250 865 Other capital accounts 695 47 199 28 28 107 21 64 20 44 8 23 105 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 478,651 25,667 178,736 14,581 30,376 38,356 25,723 46,127 16,301 6,444 12,497 20,366 63,477 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 540,776 29,658 207,712 15,919 30,897 41,382 30,513 50,465 17,402 6,317 12,761 24,372 73,380 Less--Held by F.R. Banks 112,762 6,055 46,068 3,455 3,188 6,576 8,476 9,714 2,642 1,359 1,866 6,305 17,059 F.R. notes, net 428,014 23,604 161,644 12,463 27,709 34,806 22,037 40,751 14,760 4,958 10,894 18,067 56,321 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 407,764 Total collateral 428,014 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.