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 5, 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 4, 1998 Jan 28, 1998 Feb 5, 1997 Feb 4, 1998 Reserve Bank Credit (1,2) 463,131 - 2,287 + 30,784 461,837 U.S. government securities Bought outright-system account (3) 427,804 - 659 + 35,934 427,516 Held under repurchase agreements 739 - 2,157 - 4,743 0 Federal agency obligations Bought outright 685 0 - 1,354 685 Held under repurchase agreements 743 + 321 - 505 0 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 91 + 4 + 78 305 Seasonal credit 9 - 7 - 8 6 Extended credit 0 0 0 0 Float 1,005 + 418 + 500 1,461 Other F.R. assets 32,055 - 207 + 882 31,864 Gold stock 11,046 + 1 - 2 11,045 Special drawing rights certificate account 9,200 0 - 200 9,200 Treasury currency outstanding 25,714 + 14 + 667 25,714 Total factors supplying reserve funds 509,090 - 2,271 + 31,249 507,797 Currency in circulation* 469,340 - 858 + 30,288 470,852 Treasury cash holdings* 221 + 2 - 30 222 Deposits,other than reserve balances,with F.R.Banks Treasury 5,696 - 1,280 - 511 4,792 Foreign 200 + 34 + 34 164 Service-related balances and adjustments (4) 7,277 - 308 + 105 7,277 Other 374 + 31 + 8 411 Other F.R. liabilities and capital 15,932 - 151 + 2,411 15,605 Total factors, other than reserve balances, absorbing reserve funds 499,040 - 2,529 + 32,306 499,324 Reserve balances with F.R. Banks (5) 10,050 + 258 - 1,056 8,472 On February 4, 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 602,478 million, a change of -$ 2,837 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 17,480 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 16,992 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 17,767 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 16,357 million was with foreign official and international accounts. Includes $ 634 million securities loaned--fully secured U.S. government securities. 3 Includes $ 2050 million of inflation-indexed securities valued at the original face amount and $ 22 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,748 million and adjustments of $ 530 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 4, 1998 Jan 28, 1998 Feb 5, 1997 ASSETS Gold certificate account 11,045 + 1 - 3 Special drawing rights certificate account 9,200 0 - 200 Coin 560 + 28 - 145 Loans 311 + 284 + 291 Acceptances 0 0 0 Federal agency obligations Bought outright 685 0 - 1,354 Held under repurchase agreements (1) 0 - 760 - 1,749 U.S. government securities Bought outright--Bills 194,382 - 459 + 2,108 Notes (2) 173,727 0 + 23,412 Bonds 59,407 0 + 10,068 Total bought outright (3) 427,516 - 460 + 35,587 Held under repurchase agreements (1) 0 - 8,978 - 2,364 Total U.S. government securities 427,516 - 9,438 + 33,223 Total loans and securities 428,512 - 9,914 + 30,412 Items in process of collection (482) 8,235 + 55 + 498 Bank premises 1,274 0 + 38 Other assets (4) 30,548 - 1,612 + 716 TOTAL ASSETS (482) 489,374 - 11,442 + 31,317 LIABILITIES Federal Reserve notes 445,920 + 794 + 29,916 Deposits Depository institutions 15,618 - 10,808 - 622 U.S. Treasury--general account 4,792 - 2,054 - 558 Foreign--official accounts 164 + 6 + 2 Other 411 + 77 + 33 Total deposits 20,985 - 12,778 - 1,145 Deferred availability cash items (482) 6,864 + 790 + 288 Other liabilities and accrued dividends (5) 4,476 - 159 + 82 TOTAL LIABILITIES (482) 478,244 - 11,353 + 29,141 CAPITAL ACCOUNTS Capital paid in 5,478 + 2 + 782 Surplus 5,220 0 + 998 Other capital accounts 431 - 90 + 396 *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 $ 22 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 17,767 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 634 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 $ 185 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 4, 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 307 0 Within 15 days 18,670 - 2,896 10 - 760 16 to 90 days 4 0 16 to 90 days 92,094 - 656 94 0 Over 90 days 0 0 91 days to 1 year 132,653 - 6,234 150 0 Over 1 to 5 years 94,484 + 349 151 0 Over 5 to 10 years 41,306 0 255 0 Over 10 years 48,308 0 25 0 Total 311 0 Total 427,516 - 9,438 685 - 760 1 Includes $ 2050 million of inflation-indexed securities valued at the original face amount and $ 22 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 4, 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 11,045 624 3,932 350 669 965 723 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 560 31 24 61 35 75 59 70 22 23 35 51 75 Loans 311 0 0 0 0 0 0 1 5 0 4 0 300 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) 0 0 0 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 194,382 11,850 62,873 6,498 13,446 18,495 12,971 20,734 7,742 2,707 5,550 7,059 24,456 Notes (2) 173,727 10,591 56,192 5,808 12,017 16,530 11,593 18,531 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) 427,516 26,062 138,280 14,292 29,572 40,677 28,528 45,601 17,027 5,954 12,207 15,526 53,788 Held under repurchase agreements(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 427,516 26,062 138,280 14,292 29,572 40,677 28,528 45,601 17,027 5,954 12,207 15,526 53,788 Total loans and securities 428,512 26,105 138,502 14,315 29,619 40,742 28,574 45,675 17,060 5,964 12,231 15,551 54,175 Items in process of collection 8,717 479 1,013 272 447 538 985 623 301 573 711 475 2,300 Bank premises 1,274 94 156 50 134 126 79 107 31 132 55 150 159 Other assets(4) 30,548 1,563 8,446 1,306 1,919 3,899 1,946 3,089 879 816 754 1,344 4,587 Interdistrict settlement account 0 -4,945 +34,453 -2,276 -2,318 -11,648 -1,127 -7,904 -1,888 -1,623 +87 +5,320 -6,132 TOTAL ASSETS 489,856 24,480 189,728 14,361 31,080 35,490 31,840 43,628 17,146 6,155 14,406 23,717 57,824 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 $ 22 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 17,767 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 634 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 $ 185 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 4, 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 445,920 22,275 177,899 12,455 28,562 31,462 28,099 39,393 15,810 4,841 12,911 21,659 50,556 Deposits Depository institutions 15,618 915 2,386 854 1,102 1,284 1,776 1,897 648 353 611 859 2,933 U.S. Treasury--general account 4,792 0 4,792 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 164 7 50 8 9 22 9 14 3 5 3 7 26 Other 411 0 115 1 1 81 18 189 1 0 2 2 2 Total deposits 20,985 923 7,342 863 1,112 1,387 1,803 2,099 652 358 617 869 2,961 Deferred credit items 7,345 462 856 230 381 541 894 588 250 474 441 440 1,789 Other liabilities and accrued dividends (1) 4,476 278 1,322 181 302 419 322 480 192 95 163 181 541 TOTAL LIABILITIES 478,726 23,937 187,419 13,728 30,356 33,808 31,118 42,559 16,904 5,768 14,133 23,149 55,847 CAPITAL ACCOUNTS Capital paid in 5,478 263 1,109 317 357 834 360 526 115 195 135 285 982 Surplus 5,220 254 1,055 273 335 818 338 502 122 189 119 271 945 Other capital accounts 431 27 145 43 31 29 23 41 5 3 20 12 50 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 489,856 24,480 189,728 14,361 31,080 35,490 31,840 43,628 17,146 6,155 14,406 23,717 57,824 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 547,757 27,690 208,274 16,383 32,228 38,740 37,517 47,967 18,209 6,578 15,155 28,021 70,995 Less--Held by F.R. Banks 101,837 5,415 30,376 3,928 3,666 7,278 9,418 8,574 2,399 1,738 2,244 6,362 20,439 F.R. notes, net 445,920 22,275 177,899 12,455 28,562 31,462 28,099 39,393 15,810 4,841 12,911 21,659 50,556 Collateral held against F.R. notes Gold certificate account 11,045 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 425,674 Total collateral 445,920 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.