1 ________________________________________________________________________________________________________________ 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 September 19, 1996 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 18, 1996 Sep 11, 1996 Sep 20, 1995 Sep 18, 1996 ________________________________________________________________________________________________________________ Reserve Bank credit 1 2 426,074 - 2,001 + 12,615 426,724 U.S. government securities Bought outright--system account 386,917 - 622 + 15,091 386,766 Held under repurchase agreements 4,014 + 40 - 1,866 4,910 Federal agency obligations Bought outright 2,311 - 18 - 630 2,311 Held under repurchase agreements 237 - 1,522 + 237 208 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 15 - 17 + 13 35 Seasonal credit 311 + 20 + 56 317 Extended credit 0 0 0 0 Float 613 - 361 - 39 331 Other F.R. assets 31,656 + 479 - 248 31,845 Gold stock 11,050 0 - 3 11,050 Special drawing rights certificate account 9,718 0 - 650 9,718 Treasury currency outstanding 24,665 + 14 + 939 24,665 -------------------------------------------------------- Total factors supplying reserve funds 471,507 - 1,987 + 12,902 472,157 Currency in circulation* 431,638 - 1,686 + 20,861 431,463 Treasury cash holdings* 284 + 5 - 49 285 Deposits, other than reserve balances, with F.R. Banks Treasury 5,754 + 1,085 - 4,249 8,215 Foreign 173 0 - 2 165 Service-related balances and adjustments 3 6,295 - 18 + 1,602 6,295 Other 366 + 15 + 4 371 Other F.R. liabilities and capital 14,059 + 145 + 1,818 13,811 -------------------------------------------------------- Total factors, other than reserve balances, absorbing reserve funds 458,568 - 454 + 19,987 460,605 Reserve balances with F.R. Banks 4 12,939 - 1,534 - 7,085 11,552 ---------------------------------------------------------------------------------------------------------------- On September 18, 1996, the face amount of marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts was $ 579,080 million, a change of - $ 4,347 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 12,194 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 12,194 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 12,345 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 12,345 million was with foreign official and international accounts. Includes $ 158 million securities loaned--fully secured U.S. government securities. 3 Consists of required clearing balances of $ 6,081 million and adjustments of $ 213 million to compensate for float. 4 Excludes required clearing balances and adjustments to compensate for float. * Estimated (Treasury's figures). Components may not add to totals due to rounding. 1 Worksheet for H.4.1 (a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS Millions of dollars ---------------------------------------------------------------------------------------------------------------- Change since * Wednesday Wednesday Wednesday Sep 18, 1996 Sep 11, 1996 Sep 20, 1995 ---------------------------------------------------------------- ASSETS Gold certificate account 11,050 0 - 3 Special drawing rights certificate account 9,718 0 - 450 Coin 574 + 12 + 183 Loans 352 - 20 + 85 Acceptances 0 0 0 Federal agency obligations Bought outright 2,311 0 - 630 Held under repurchase agreements 1 208 - 2,232 + 208 U.S. government securities Bought outright--Bills 186,506 - 400 + 6,090 Notes 152,392 0 + 4,488 Bonds 47,869 0 + 5,196 ---------- ---------- ---------- Total bought outright 2 386,766 - 400 + 15,774 Held under repurchase agreements 1 4,910 - 2,490 - 8,110 ---------- ---------- ---------- Total U.S. government securities 391,676 - 2,890 + 7,664 ---------- ---------- ---------- Total loans and securities 394,548 - 5,142 + 7,328 Items in process of collection (410) 6,731 + 140 + 814 Bank premises 1,205 + 3 + 93 Other assets 3 30,735 + 566 - 652 ---------- ---------- ---------- TOTAL ASSETS (410) 454,561 - 4,421 + 7,312 LIABILITIES Federal Reserve notes 407,657 - 1,752 + 19,814 Deposits Depository institutions 18,608 - 5,763 - 5,313 U.S. Treasury--general account 8,215 + 3,161 - 9,284 Foreign--official accounts 165 + 5 - 2 Other 371 + 20 + 41 ---------- ---------- ---------- Total deposits 27,359 - 2,577 - 14,559 Deferred availability cash items (410) 5,735 + 50 + 568 Other liabilities and accrued dividends 4 4,273 - 169 - 182 ---------- ---------- ---------- TOTAL LIABILITIES (410) 445,023 - 4,449 + 5,642 CAPITAL ACCOUNTS Capital paid in 4,544 + 2 + 634 Surplus 3,966 0 + 442 Other capital accounts 1,029 + 25 + 595 ---------------------------------------------------------------------------------------------------------------- * 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 Net of $ 12,345 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 158 million securities loaned--fully secured by U.S. government securities. 3 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of $ 142 million in Treasury bills maturing within 90 days. 4 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 18, 1996 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 securities obligations -------------------------------------------- Loans Acceptances Weekly Weekly Holdings changes Holdings changes ---------------------------------------------------------------------------------------------------------------- Within 15 days 324 0 Within 15 days 19,801 - 1,242 445 - 1,997 16 days to 90 days 28 0 16 days to 90 days 93,115 + 3,802 666 - 235 Over 90 days 0 0 91 days to 1 year 109,724 - 5,450 477 0 Over 1 year to 5 years 95,027 0 440 0 Over 5 years to 10 years 33,653 0 467 0 Over 10 years 40,356 0 25 0 ---------- ---------- ---------- ---------- ---------- ---------- Total 352 0 Total 391,676 - 2,890 2,519 - 2,232 ---------------------------------------------------------------------------------------------------------------- Components may not add to totals due to rounding. 1 H.4.1 (b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 18, 1996 Millions of dollars ---------------------------------------------------------------------------------------------------------------------------------------------------------- | Total | Boston | New York| Phila. | Cleve.| Rich. |Atlanta| Chicago |S.Louis| Minneap.|KansasC| Dallas|San Fran. ----------------------------------------------------------------------------------------------------------------------- ASSETS Gold certificate account 11,050 661 4,051 423 624 919 769 1,140 474 168 321 433 1,067 Special drawing rights certif. acct. 9,718 636 3,385 396 543 835 745 979 419 144 280 399 957 Coin 574 15 18 37 30 96 84 56 30 18 63 50 76 Loans 352 0 0 4 0 4 12 53 68 120 51 6 34 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 2,311 136 860 89 136 192 154 251 108 35 72 83 196 Held under repurchase agreements 1 208 0 208 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 186,506 10,974 69,361 7,218 10,962 15,466 12,447 20,212 8,737 2,813 5,842 6,678 15,796 Notes 152,392 8,966 56,674 5,898 8,957 12,637 10,170 16,515 7,139 2,298 4,773 5,457 12,907 Bonds 47,869 2,817 17,802 1,853 2,814 3,969 3,195 5,188 2,242 722 1,499 1,714 4,054 ----------------------------------------------------------------------------------------------------------------------- Total bought outright 2 386,766 22,757 143,837 14,969 22,732 32,072 25,811 41,915 18,118 5,833 12,115 13,849 32,758 Held under repurchase agreements 1 4,910 0 4,910 0 0 0 0 0 0 0 0 0 0 ----------------------------------------------------------------------------------------------------------------------- Total U.S. govt. securities 391,676 22,757 148,747 14,969 22,732 32,072 25,811 41,915 18,118 5,833 12,115 13,849 32,758 ----------------------------------------------------------------------------------------------------------------------- Total loans and securities 394,548 22,893 149,814 15,063 22,868 32,268 25,978 42,218 18,294 5,988 12,238 13,938 32,988 Items in process of collection 7,141 577 829 303 313 596 741 783 315 498 382 412 1,393 Bank premises 1,205 94 147 48 97 127 81 110 30 100 55 155 160 Other assets 3 30,735 1,397 9,866 1,322 1,843 2,437 2,610 3,505 914 651 1,064 1,594 3,529 Interdistrict settlement account 0 +451 -23,085 -2,674 +5,766 +4,822 +851 +498 -3,258 -657 -1,319 -1,851 +20,455 ----------------------------------------------------------------------------------------------------------------------- TOTAL ASSETS 454,971 26,725 145,025 14,918 32,084 42,100 31,860 49,290 17,218 6,911 13,085 15,130 60,626 ----------------------------------------------------------------------------------------------------------------------- 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 Net of $ 12,345 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 158 million securities loaned--fully secured by U.S. government securities. 3 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of $ 142 million in Treasury bills maturing within 90 days. Components may not add to totals due to rounding. 1 H.4.1 (c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 18, 1996 Millions of dollars ---------------------------------------------------------------------------------------------------------------------------------------------------------- | Total | Boston | New York| Phila. | Cleve.| Rich. |Atlanta| Chicago |S.Louis| Minneap.|KansasC| Dallas|San Fran. ----------------------------------------------------------------------------------------------------------------------- LIABILITIES Federal Reserve notes 407,657 24,492 127,709 13,268 30,238 38,980 28,201 44,727 15,883 5,595 11,498 12,809 54,258 Deposits Depository institutions 18,608 1,220 4,425 756 742 1,381 1,698 2,238 660 502 713 1,350 2,921 U.S. Treasury--general account 8,215 0 8,215 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 165 6 60 7 9 11 14 17 4 4 5 9 20 Other 371 0 119 0 3 97 2 143 0 1 2 1 3 ----------------------------------------------------------------------------------------------------------------------- Total deposits 27,359 1,227 12,818 763 754 1,488 1,713 2,398 664 507 720 1,360 2,944 Deferred credit items 6,145 393 665 239 241 624 758 584 223 498 334 272 1,313 Other liabilities and accrued dividends 1 4,273 254 1,451 188 248 351 305 456 204 100 167 171 377 ----------------------------------------------------------------------------------------------------------------------- TOTAL LIABILITIES 445,433 26,365 142,644 14,458 31,481 41,443 30,977 48,165 16,974 6,700 12,720 14,612 58,893 CAPITAL ACCOUNTS Capital paid in 4,544 167 1,098 222 287 312 427 539 113 102 176 252 849 Surplus 3,966 171 1,057 190 259 292 389 473 98 99 152 246 542 Other capital accounts 1,029 21 227 48 57 53 67 114 34 9 38 19 342 ----------------------------------------------------------------------------------------------------------------------- ACCOUNTS 454,971 26,725 145,025 14,918 32,084 42,100 31,860 49,290 17,218 6,911 13,085 15,130 60,626 ---------------------------------------------------------------------------------------------------------------------------------------------------------- FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 530,932 29,995 181,474 16,645 33,577 47,128 35,667 53,482 19,561 6,946 13,767 21,784 70,906 Less--Held by F.R. Banks 123,275 5,504 53,765 3,377 3,339 8,148 7,466 8,755 3,678 1,351 2,269 8,975 16,648 ----------------------------------------------------------------------------------------------------------------------- F.R. notes, net 407,657 24,492 127,709 13,268 30,238 38,980 28,201 44,727 15,883 5,595 11,498 12,809 54,258 Collateral held against F.R. notes Gold certificate account 11,050 Special drawing rights certificate account 9,718 Other eligible assets 0 U.S. govt. and agency securities 386,889 ------------ Total collateral 407,657 ----------------------------------------------------------------------------------------------------------------------- 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.