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 23, 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 Oct 22, 1997 Oct 15, 1997 Oct 23, 1996 Oct 22, 1997 Reserve Bank Credit (1,2) 455,299 + 1,326 + 27,521 463,603 U.S. government securities Bought outright-system account (3) 415,085 + 1,815 + 28,065 415,465 Held under repurchase agreements 5,986 - 166 + 2,352 12,514 Federal agency obligations Bought outright 754 - 79 - 1,534 746 Held under repurchase agreements 976 - 280 - 806 1,622 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 34 + 26 + 30 14 Seasonal credit 208 - 23 + 11 203 Extended credit 0 0 0 0 Float 451 - 152 - 685 691 Other F.R. assets 31,806 + 185 + 88 32,349 Gold stock 11,050 0 + 1 11,050 Special drawing rights certificate account 9,200 0 - 518 9,200 Treasury currency outstanding 25,530 + 14 + 690 25,530 Total factors supplying reserve funds 501,080 + 1,340 + 27,694 509,384 Currency in circulation* 461,505 - 264 + 28,210 461,577 Treasury cash holdings* 240 - 2 - 42 239 Deposits,other than reserve balances,with F.R.Banks Treasury 5,527 + 417 + 113 5,585 Foreign 199 + 24 + 33 205 Service-related balances and adjustments (4) 6,882 - 128 + 223 6,882 Other 375 - 8 + 17 365 Other F.R. liabilities and capital 16,101 + 259 + 1,962 15,922 Total factors, other than reserve balances, absorbing reserve funds 490,828 + 297 + 30,517 490,775 Reserve balances with F.R. Banks (5) 10,252 + 1,043 - 2,823 18,608 On October 22, 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 $ 628,649 million, a change of - $ 7,208 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 13,653 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 13,653 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 13,273 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 13,273 million was with foreign official and international accounts. Includes $ 322 million securities loaned--fully secured U.S. government securities. 3 Includes $ 1,550 million of inflation-indexed securities valued at the original face amount and $ 13 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,768 million and adjustments of $ 113 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 Oct 22, 1997 Oct 15, 1997 Oct 23, 1996 ASSETS Gold certificate account 11,050 0 + 1 Special drawing rights certificate account 9,200 0 - 518 Coin 519 - 5 - 90 Loans 217 - 21 + 16 Acceptances 0 0 0 Federal agency obligations Bought outright 746 - 15 - 1,514 Held under repurchase agreements (1) 1,622 + 717 - 1,275 U.S. government securities Bought outright--Bills 196,331 + 1,231 + 9,976 Notes (2) 163,075 + 1 + 10,683 Bonds 56,059 0 + 8,190 Total bought outright (3) 415,465 + 1,231 + 28,849 Held under repurchase agreements (1) 12,514 + 5,474 + 3,182 Total U.S. government securities 427,979 + 6,705 + 32,031 Total loans and securities 430,563 + 7,386 + 29,258 Items in process of collection (417) 7,106 - 5,193 + 477 Bank premises 1,274 + 2 + 59 Other assets (4) 31,042 + 20 - 290 TOTAL ASSETS (417) 490,753 + 2,210 + 28,897 LIABILITIES Federal Reserve notes 436,804 - 1,267 + 27,415 Deposits Depository institutions 25,556 + 6,452 - 1,535 U.S. Treasury--general account 5,585 + 411 + 248 Foreign--official accounts 205 + 42 + 37 Other 365 - 16 + 1 Total deposits 31,712 + 6,890 - 1,248 Deferred availability cash items (417) 6,316 - 3,735 + 744 Other liabilities and accrued dividends (5) 4,972 + 290 + 441 TOTAL LIABILITIES (417) 479,803 + 2,177 + 27,352 CAPITAL ACCOUNTS Capital paid in 5,259 + 7 + 728 Surplus 4,389 0 + 528 Other capital accounts 1,303 + 26 + 288 *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 $ 1,550 million of inflation-indexed securities valued at the original face amount and $ 13 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 13,273 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 322 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 $ 154 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, OCTOBER 22, 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 177 0 Within 15 days 19,979 - 738 1683 + 728 16 days to 90 40 0 16 days to 90 days 93,640 + 2,551 0 - 26 Over 90 days 0 0 91 days to 1 year 139,186 + 4,893 202 0 Over 1 year to 5 years 91,357 + 1 203 0 Over 5 years to 10 years 38,429 0 255 0 Over 10 years 45,389 0 25 0 Total 217 0 Total 427,979 + 6,706 2368 + 702 1 Includes $ 1,550 million of inflation-indexed securities valued at the original face amount and $ 13 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 OCTOBER 22, 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 519 23 20 53 31 71 64 63 17 22 28 48 78 Loans 217 10 0 1 0 0 2 29 50 78 41 2 3 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 746 45 241 25 52 71 50 80 30 10 21 27 94 Held under repurchase agreements(1) 1,622 0 1,622 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 196,331 11,969 63,503 6,564 13,580 18,680 13,101 20,942 7,820 2,734 5,606 7,130 24,702 Notes (2) 163,075 9,941 52,747 5,452 11,280 15,516 10,882 17,394 6,495 2,271 4,656 5,922 20,517 Bonds 56,059 3,417 18,132 1,874 3,878 5,334 3,741 5,980 2,233 781 1,601 2,036 7,053 Total bought outright(3) 415,465 25,328 134,382 13,889 28,738 39,530 27,724 44,315 16,547 5,786 11,863 15,088 52,272 Held under repurchase agreements(1) 12,514 0 12,514 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 427,979 25,328 146,896 13,889 28,738 39,530 27,724 44,315 16,547 5,786 11,863 15,088 52,272 Total loans and securities 430,563 25,383 148,760 13,915 28,790 39,601 27,776 44,424 16,627 5,875 11,926 15,117 52,369 Items in process of collection 7,523 466 814 245 333 532 787 626 318 594 459 479 1,870 Bank premises 1,274 94 153 50 125 126 77 108 31 144 55 150 159 Other assets(4) 31,042 1,326 9,631 1,430 1,880 2,386 2,399 3,369 873 585 997 1,405 4,759 Interdistrict settlement account -0 -2192 16293 -2204 -2057 -6062 -1356 -2928 -1603 -779 383 3950 -1445 TOTAL ASSETS 491,170 26,255 182,810 14,122 30,345 38,412 31,071 47,631 17,005 6,711 14,382 21,975 60,451 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 $ 1,550 million of inflation-indexed securities valued at the original face amount and $ 13 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 13,273 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 322 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 $ 154 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 OCTOBER 22, 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 436,804 23,111 165,940 11,998 27,951 32,724 27,490 42,098 15,519 4,440 12,789 19,282 53,463 Deposits Depository institutions 25,556 2,034 6,429 1,137 1,049 2,924 1,761 3,175 874 1,244 709 1,540 2,682 U.S. Treasury--general account 5,585 0 5,585 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 205 5 94 9 9 10 13 17 4 3 5 8 28 Other 365 2 99 0 3 101 2 155 1 0 1 0 1 Total deposits 31,712 2,042 12,208 1,146 1,061 3,034 1,775 3,346 878 1,247 715 1,548 2,711 Deferred credit items 6,732 413 771 218 255 541 708 619 174 526 400 393 1,715 Other liabilities and accrued dividends (1) 4,972 295 1,563 191 328 459 347 516 205 104 173 197 593 TOTAL LIABILITIES 480,220 25,861 180,481 13,553 29,595 36,758 30,320 46,579 16,777 6,317 14,077 21,420 58,482 CAPITAL ACCOUNTS Capital paid in 5,259 187 1,101 284 366 811 316 514 109 197 125 275 974 Surplus 4,389 164 999 262 279 303 405 512 109 101 167 244 845 Other capital accounts 1,303 43 229 24 106 541 31 26 10 96 13 35 150 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 491,170 26,255 182,810 14,122 30,345 38,412 31,071 47,631 17,005 6,711 14,382 21,975 60,451 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 550,993 29,603 205,082 15,690 32,809 39,907 37,139 50,751 18,029 6,271 15,635 26,437 73,642 Less--Held by F.R. Banks 114,189 6,492 39,142 3,693 4,858 7,183 9,649 8,653 2,510 1,831 2,846 7,155 20,178 F.R. notes, net 436,804 23,111 165,940 11,998 27,951 32,724 27,490 42,098 15,519 4,440 12,789 19,282 53,463 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 416,554 Total collateral 436,804 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.