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 October 1, 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 Sep 30, 1998 Sep 23, 1998 Oct 1, 1997 Sep 30, 1998 Reserve Bank Credit (1,2) 487,952 + 1,875 + 34,710 496,416 U.S. government securities Bought outright-system account (3) 446,239 + 1,429 + 34,594 446,047 Held under repurchase agreements 5,441 - 234 - 2,204 12,135 Federal agency obligations Bought outright 403 0 - 514 403 Held under repurchase agreements 1,170 - 350 + 323 2,099 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 138 + 126 + 132 896 Seasonal credit 172 - 1 - 167 159 Extended credit 0 0 0 0 Float 842 + 168 + 583 -1,183 Other F.R. assets 33,547 + 739 + 1,964 35,861 Gold stock 11,045 - 1 - 5 11,044 Special drawing rights certificate account 9,200 0 0 9,200 Treasury currency outstanding 25,972 + 14 + 510 25,972 Total factors supplying reserve funds 534,168 + 1,889 + 35,215 542,631 Currency in circulation* 492,771 + 376 + 35,567 494,221 Treasury cash holdings* 93 - 1 - 162 92 Deposits,other than reserve balances,with F.R.Banks Treasury 6,989 - 154 + 303 4,952 Foreign 201 + 36 + 9 347 Service-related balances and adjustments (4) 7,012 + 63 + 6 7,012 Other 353 - 17 - 25 349 Other F.R. liabilities and capital 17,206 + 38 + 1,078 17,654 Total factors, other than reserve balances, absorbing reserve funds 524,625 + 341 + 36,775 524,626 Reserve balances with F.R. Banks (5) 9,543 + 1,548 - 1,560 18,005 On September 30, 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 564,692 million, a change of +$ 5,744 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 19,642 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 19,642 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 19,835 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 19,835 million was with foreign official and international accounts. Includes $ 858 million securities loaned--fully secured U.S. government securities. 3 Includes $ 2,850 million of inflation-indexed securities valued at the original face amount and $ 51 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,703 million and adjustments of $ 309 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 Sep 30, 1998 Sep 23, 1998 Oct 1, 1997 ASSETS Gold certificate account 11,044 - 2 - 6 Special drawing rights certificate account 9,200 0 0 Coin 417 + 6 - 108 Loans 1,055 + 870 + 751 Acceptances 0 0 0 Federal agency obligations Bought outright 403 0 - 463 Held under repurchase agreements (1) 2,099 + 24 + 1,553 U.S. government securities Bought outright--Bills 195,864 - 987 + 948 Notes (2) 184,186 + 1,210 + 21,048 Bonds (3) 65,996 + 20 + 11,005 Total bought outright (4) 446,047 + 243 + 33,001 Held under repurchase agreements (1) 12,135 + 3,505 + 6,190 Total U.S. government securities 458,182 + 3,748 + 39,191 Total loans and securities 461,738 + 4,642 + 41,032 Items in process of collection (513) 6,454 - 733 - 922 Bank premises 1,295 - 2 + 27 Other assets (5) 34,328 + 2,155 + 3,772 TOTAL ASSETS (513) 524,476 + 6,066 + 43,795 LIABILITIES Federal Reserve notes 468,759 + 887 + 34,618 Deposits Depository institutions 25,706 + 6,381 + 6,318 U.S. Treasury--general account 4,952 - 2,556 + 1,249 Foreign--official accounts 347 + 181 + 130 Other (0) 349 - 39 - 51 Total deposits (0) 31,353 + 3,966 + 7,646 Deferred availability cash items (513) 6,711 + 510 - 205 Other liabilities and accrued dividends (6) 4,637 - 124 - 203 TOTAL LIABILITIES (513) 511,460 + 5,239 + 41,856 CAPITAL ACCOUNTS Capital paid in 5,910 - 2 + 680 Surplus 5,220 0 + 832 Other capital accounts 1,886 + 828 + 427 *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 $ 44 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Includes $ 800 million of inflation-indexed securities valued at the original face amount and $ 7 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 19,835 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 858 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 $ 198 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, September 30, 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 973 0 Within 15 days 20,310 + 2,633 2,099 + 24 16 to 90 days 82 0 16 to 90 days 90,644 - 2,071 50 0 Over 90 days 0 0 91 days to 1 year 145,875 + 1,692 75 0 Over 1 to 5 years 105,789 + 1,143 93 0 Over 5 to 10 years 41,628 + 351 185 0 Over 10 years 53,936 0 0 0 Total 1,055 0 Total 458,182 + 3,748 2,502 + 24 1 Includes $ 2,850 million of inflation-indexed securities valued at the original face amount and $ 51 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 September 30, 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 11,044 582 4,204 323 643 807 717 998 358 128 289 530 1,465 Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241 Coin 417 18 22 17 26 43 66 55 19 15 31 54 51 Loans 1,055 0 0 1 0 30 340 551 33 50 34 1 16 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 403 22 149 12 26 32 24 39 14 4 11 18 51 Held under repurchase agreements(1) 2,099 0 2,099 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 195,864 10,667 72,595 5,694 12,730 15,429 11,915 18,803 6,883 2,152 5,433 8,906 24,657 Notes (2) 184,186 10,031 68,267 5,355 11,971 14,509 11,204 17,682 6,473 2,023 5,109 8,375 23,187 Bonds (3) 65,996 3,594 24,461 1,919 4,289 5,199 4,015 6,336 2,319 725 1,831 3,001 8,308 Total bought outright(4) 446,047 24,293 165,323 12,968 28,990 35,137 27,133 42,821 15,675 4,900 12,374 20,281 56,152 Held under repurchase agreements(1) 12,135 0 12,135 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 458,182 24,293 177,458 12,968 28,990 35,137 27,133 42,821 15,675 4,900 12,374 20,281 56,152 Total loans and securities 461,738 24,315 179,706 12,981 29,016 35,199 27,497 43,411 15,721 4,955 12,419 20,301 56,218 Items in process of collection 6,967 420 739 214 321 538 807 553 165 630 340 385 1,856 Bank premises 1,295 93 159 50 157 125 79 107 31 131 54 149 160 Other assets(5) 34,328 1,536 11,805 1,391 1,939 3,884 1,967 3,085 847 825 764 1,501 4,785 Interdistrict settlement account 0 - 1,974 +20,852 - 147 - 3,964 - 3,635 - 710 - 4,378 - 2,047 + 410 + 1,129 + 2,347 - 7,882 TOTAL ASSETS 524,989 25,519 220,688 15,112 28,711 37,754 31,024 44,731 15,434 7,217 15,272 25,633 57,894 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 $ 44 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Includes $ 800 million of inflation-indexed securities valued at the original face amount and $ 7 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 19,835 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 858 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 $ 198 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 September 30, 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 468,759 23,025 198,669 12,651 26,110 33,300 27,541 40,433 14,213 5,516 13,776 23,377 50,148 Deposits Depository institutions 25,706 1,213 11,812 1,540 988 1,011 1,227 1,904 469 523 669 1,174 3,175 U.S. Treasury--general account 4,952 0 4,952 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 347 7 232 8 9 22 9 14 3 5 3 7 26 Other 348 1 105 1 1 24 2 199 2 0 9 1 3 Total deposits 31,353 1,222 17,101 1,548 999 1,058 1,238 2,117 474 529 681 1,182 3,204 Deferred credit items 7,224 420 670 207 445 544 932 539 297 658 359 288 1,863 Other liabilities and accrued dividends (1) 4,637 257 1,582 166 294 383 310 446 183 87 161 219 548 TOTAL LIABILITIES 511,972 24,924 218,022 14,572 27,848 35,285 30,021 43,535 15,167 6,790 14,978 25,066 55,763 CAPITAL ACCOUNTS Capital paid in 5,910 268 1,186 213 398 1,158 472 545 119 200 138 234 980 Surplus 5,220 254 1,055 273 335 818 338 502 122 189 119 271 945 Other capital accounts 1,886 74 424 54 129 493 193 149 27 38 38 62 206 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 524,989 25,519 220,688 15,112 28,711 37,754 31,024 44,731 15,434 7,217 15,272 25,633 57,894 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 580,575 27,855 237,437 15,888 30,625 42,392 36,448 51,304 17,155 7,313 16,401 29,830 67,928 Less--Held by F.R. Banks 111,817 4,830 38,768 3,237 4,514 9,092 8,907 10,870 2,942 1,797 2,625 6,453 17,780 F.R. notes, net 468,759 23,025 198,669 12,651 26,110 33,300 27,541 40,433 14,213 5,516 13,776 23,377 50,148 Collateral held against F.R. notes Gold certificate account 11,044 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 448,515 Total collateral 468,759 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.