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 March 6, 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 Mar 5, 1997 Feb 26, 1997 Mar 6, 1996 Mar 5, 1997 Reserve Bank Credit (1,2) 435,211 - 798 + 23,976 433,904 U.S. government securities Bought outright-system account (3) 392,115 - 851 + 14,540 393,392 Held under repurchase agreements 9,190 - 241 + 9,190 7,024 Federal agency obligations Bought outright 2,011 - 19 - 616 2,011 Held under repurchase agreements 1,360 + 207 + 1,360 635 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 14 - 23 + 3 2 Seasonal credit 28 + 4 + 20 26 Extended credit 0 0 0 0 Float 954 + 457 + 369 1338 Other F.R. assets 29,540 - 332 - 891 29,476 Gold stock 11,051 0 - 2 11,051 Special drawing rights certificate account 9,371 - 29 - 797 9,200 Treasury currency outstanding 25,107 + 14 + 913 25,107 Total factors supplying reserve funds 480,741 - 812 + 24,090 479,262 Currency in circulation* 442,362 + 456 + 27,963 443,651 Treasury cash holdings* 279 + 13 0 280 Deposits,other than reserve balances,with F.R.Banks Treasury 5,149 + 724 + 837 5,239 Foreign 208 - 2 + 11 164 Service-related balances and adjustments (4) 7,134 + 55 + 1,373 7,134 Other 371 + 42 - 27 418 Other F.R. liabilities and capital 14,152 - 241 + 1,005 13,844 Total factors, other than reserve balances, absorbing reserve funds 469,655 + 1,048 + 31,161 470,730 Reserve balances with F.R. Banks (5) 11,086 - 1,860 - 7,071 8,532 On March 5, 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 $ 643,314 million, a change of + $ 10,322 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 14,835 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 14,835 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 13,558 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 13,558 million was with foreign official and international accounts. Includes $ 35 million securities loaned--fully secured U.S. government securities. 3 Includes $ 350 million of inflation-indexed securities valued at the original face amount and $ 1 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,818 million and adjustments of $ 316 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 Mar 5, 1997 Feb 26, 1997 Mar 6, 1996 ASSETS Gold certificate account 11,051 0 - 2 Special drawing rights certificate account 9,200 - 200 - 968 Coin 716 - 4 + 176 Loans 28 - 1 + 13 Acceptances 0 0 0 Federal agency obligations Bought outright 2,011 0 - 578 Held under repurchase agreements (1) 635 - 1,693 + 635 U.S. government securities Bought outright--Bills 191,445 - 23 + 7,894 Notes (2) 151,665 0 + 2,780 Bonds 50,282 0 + 5,313 Total bought outright (3) 393,392 - 23 + 15,988 Held under repurchase agreements (1) 7,024 - 7,792 + 7,024 Total U.S. government securities 400,416 - 7,815 + 23,012 Total loans and securities 403,091 - 9,509 + 23,082 Items in process of collection (434) 8,281 + 2,008 + 1,215 Bank premises 1,245 0 + 104 Other assets (4) 28,271 - 1,183 - 1,139 TOTAL ASSETS (434) 461,853 - 8,889 + 22,468 LIABILITIES Federal Reserve notes 419,539 + 970 + 26,930 Deposits Depository institutions 15,764 - 10,911 - 7,143 U.S. Treasury--general account 5,239 + 10 + 985 Foreign--official accounts 164 - 24 0 Other 418 + 82 + 32 Total deposits 21,584 - 10,844 - 6,125 Deferred availability cash items (434) 6,885 + 1,403 + 710 Other liabilities and accrued dividends (5) 4,473 - 103 + 399 TOTAL LIABILITIES (434) 452,482 - 8,573 + 21,914 CAPITAL ACCOUNTS Capital paid in 4,732 + 11 + 699 Surplus 4,440 - 34 + 495 Other capital accounts 200 - 293 - 640 *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 $ 350 million of inflation-indexed securities valued at the original face amount and $ 1 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 13,558 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 35 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 $ 163 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, MARCH 5, 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 10 0 Within 15 days 19,290 - 9,138 635 - 2013 16 days to 90 19 0 16 days to 90 days 95,624 + 6,788 762 + 307 Over 90 days 0 0 91 days to 1 year 116,765 - 5,177 258 + 13 Over 1 year to 5 years 91,130 - 289 510 0 Over 5 years to 10 years 36,607 0 457 0 Over 10 years 41,000 0 25 0 Total 28 0 Total 400,416 - 7,815 2646 - 1693 1 Includes $ 350 million of inflation-indexed securities valued at the original face amount and $ 1 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 MARCH 5, 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 11,051 661 4,052 423 624 919 769 1,140 474 168 321 433 1,067 Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241 Coin 716 21 35 61 35 123 94 81 33 26 58 59 90 Loans 28 5 0 0 0 0 0 6 6 5 6 0 0 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 2,011 118 748 78 118 167 134 218 94 30 63 72 170 Held under repurchase agreements(1) 635 0 635 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 191,445 11,264 71,197 7,410 11,252 15,875 12,776 20,747 8,968 2,887 5,997 6,855 16,215 Notes (2) 151,665 8,924 56,404 5,870 8,914 12,577 10,121 16,436 7,105 2,287 4,751 5,431 12,846 Bonds 50,282 2,959 18,700 1,946 2,955 4,170 3,356 5,449 2,356 758 1,575 1,801 4,259 Total bought outright(3) 393,392 23,147 146,301 15,226 23,122 32,622 26,253 42,633 18,429 5,933 12,322 14,087 33,319 Held under repurchase agreements(1) 7,024 0 7,024 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 400,416 23,147 153,325 15,226 23,122 32,622 26,253 42,633 18,429 5,933 12,322 14,087 33,319 Total loans and securities 403,091 23,270 154,708 15,303 23,240 32,788 26,387 42,857 18,529 5,968 12,391 14,159 33,489 Items in process of collection 8,714 447 1,179 289 349 813 1,210 728 331 617 420 526 1,805 Bank premises 1,245 95 153 50 111 127 80 109 30 119 56 154 160 Other assets(4) 28,271 1,176 8,614 1,410 1,648 2,110 2,259 3,170 837 561 966 1,328 4,192 Interdistrict settlement account 0 -788 -17283 -3575 3639 2515 -2264 -2558 -3116 -1163 -1323 5383 20531 TOTAL ASSETS 462,287 25,411 154,660 14,244 30,220 40,187 29,138 46,428 17,459 6,419 13,137 22,409 62,575 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 $ 350 million of inflation-indexed securities valued at the original face amount and $ 1 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 13,558 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 35 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 $ 163 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 MARCH 5, 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 419,539 23,563 142,545 12,503 28,125 37,223 25,053 42,160 15,978 5,109 11,462 19,871 55,945 Deposits Depository institutions 15,764 801 2,109 750 985 1,246 1,819 1,912 766 491 661 1,469 2,755 U.S. Treasury--general account 5,239 0 5,239 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 164 5 53 9 9 10 13 17 4 3 5 8 28 Other 418 1 115 1 1 121 8 165 0 1 2 1 2 Total deposits 21,584 807 7,516 759 995 1,378 1,840 2,094 769 495 668 1,479 2,785 Deferred credit items 7,319 408 843 227 269 595 1,022 617 262 501 484 372 1,719 Other liabilities and accrued dividends (1) 4,473 264 1,542 195 259 364 319 475 213 98 172 178 394 TOTAL LIABILITIES 452,915 25,043 152,446 13,684 29,648 39,560 28,235 45,346 17,222 6,203 12,786 21,900 60,842 CAPITAL ACCOUNTS Capital paid in 4,732 178 1,078 285 283 313 463 547 115 110 179 258 923 Surplus 4,440 168 1,023 268 286 310 415 524 112 104 171 250 809 Other capital accounts 200 23 113 6 4 4 26 11 10 1 1 1 0 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 462,287 25,411 154,660 14,244 30,220 40,187 29,138 46,428 17,459 6,419 13,137 22,409 62,575 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 524,717 29,601 185,242 15,654 31,571 43,560 32,980 49,965 18,634 6,739 13,588 25,310 71,874 Less--Held by F.R. Banks 105,178 6,038 42,697 3,152 3,446 6,336 7,927 7,804 2,656 1,629 2,126 5,438 15,929 F.R. notes, net 419,539 23,563 142,545 12,503 28,125 37,223 25,053 42,160 15,978 5,109 11,462 19,871 55,945 Collateral held against F.R. notes Gold certificate account 11,051 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 399,288 Total collateral 419,539 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.