Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page

Release Date: June 25, 1998

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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
                                                                                              June 25, 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     Jun 24, 1998 Jun 17, 1998 Jun 25, 1997 Jun 24, 1998

Reserve Bank Credit  (1,2)                                  480,511    +   2,936    +  30,257      488,218
  U.S. government securities			        		      		     		   
    Bought outright-system account (3)                      441,898    -     304    +  32,148      441,495
    Held under repurchase agreements                          4,144    +   2,083    -   3,284       11,495
  Federal agency obligations			        		      		     		   
    Bought outright                                             551            0    -     946          551
    Held under repurchase agreements                            483    -     331    +      26        1,180
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
  
    Adjustment credit                                             6    -      65    -      63            3
    Seasonal credit                                             180    +      23    -     115          193
    Extended credit                                               0            0            0            0
   Float                                                      1,338    +     481    +   1,365          179
   Other F.R. assets                                         31,913    +   1,049    +   1,126       33,122
Gold stock                                                   11,049    +       2            0       11,049
Special drawing rights certificate account                    9,200            0            0        9,200
Treasury currency outstanding                                25,956    +      14    +     633       25,956
        Total factors supplying reserve funds               526,716    +   2,952    +  30,890      534,423
						        		      		     		   
Currency in circulation*                                    481,323    -     419    +  29,795      482,184
Treasury cash holdings*                                         204    -       3    -     141          204
Deposits,other than reserve balances,with F.R.Banks     		      		     		   
  Treasury                                                   12,769    +   5,787    +     901       22,464
  Foreign                                                       164    +       5    -      44          154
  Service-related balances and adjustments (4)                6,959    +     198    -     163        6,959
  Other                                                         333    -       4    -       5          325
Other F.R. liabilities and capital                           16,880    -      33    +   1,686       16,667
        Total factors, other than reserve balances,     		      		     		   
        absorbing reserve funds                             518,632    +   5,531    +  32,029      528,957

Reserve balances with F.R. Banks  (5)                         8,085    -   2,579    -   1,139        5,466
						       		      		     		    
On      June 24, 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 595,723 million, a change of 
 +$ 373 million for the week.  The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1  Net of $ 16,308 million daily average, matched sale-purchase transactions outstanding during the 
   latest statement week, of which a net of $ 16,308 million was with foreign official and international
   accounts.  Includes securities loaned--fully secured by U.S. government securities.
2  Net of $ 16,712 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week, of which a net of $ 16,712 million was with foreign official and international 
   accounts.  Includes $ 186 million securities loaned--fully secured U.S. government securities.
3  Includes $ 2,450 million of inflation-indexed securities valued at the original face amount and 
   $ 36 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Consists of required clearing balances of $ 6,573 million and adjustments of $ 386 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
                                                           Jun 24, 1998     Jun 17, 1998     Jun 25, 1997
                ASSETS
Gold certificate account                                        11,049        +       1                0
Special drawing rights certificate account                       9,200                0                0
Coin                                                               411        +       3        -      85
					      
Loans                                                              196        -       4        -     506
Acceptances                                                          0                0                0
Federal agency obligations		      
  Bought outright                                                  551                0        -     946
  Held under repurchase agreements (1)                           1,180        -      57        -     220
U.S. government securities		      
  Bought outright--Bills                                       198,987        -     670        +   3,247
                   Notes (2)                                   180,593        +       1        +  19,531
                   Bonds (3)                                    61,915                0        +   8,998
    Total bought outright (4)                                  441,495        -     668        +  31,776
  Held under repurchase agreements (1)                          11,495        +   4,817        -   1,645
     Total U.S. government securities                          452,990        +   4,149        +  30,131
       Total loans and securities                              454,916        +   4,088        +  28,459
					      
Items in process of collection                      (513)        6,396        -   1,966        +     434
Bank premises                                                    1,291        -       2        +      39
Other assets (5)                                                31,875        +   1,690        +   1,618
                TOTAL ASSETS                        (513)      515,138        +   3,814        +  30,466
					      
                LIABILITIES
Federal Reserve notes                                          456,844        -     300        +  28,493
Deposits		 		     
  Depository institutions                                       12,660        -   9,133        -   3,091
  U.S. Treasury--general account                                22,464        +  14,191        +   3,179
  Foreign--official accounts                                       154        -      22        -     314
    Other                                                          325        -       2        -      12
      Total deposits                                            35,603        +   5,034        -     238
Deferred availability cash items                    (513)        6,025        -     878        +     710
Other liabilities and accrued dividends (6)                      4,741        -      61        -     119
                TOTAL LIABILITIES                   (513)      503,212        +   3,795        +  28,846
					      
                CAPITAL ACCOUNTS
Capital paid in                                                  5,789        +       3        +     741
Surplus                                                          5,220                0        +     725
Other capital accounts                                             916        +      16        +     155

*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 
   $ 34 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
3  Includes $ 400 million of inflation-indexed securities valued at the original face amount and 
   $ 2 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Net of $ 16,712 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes $ 186 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 $ 156 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,      June 24, 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        172          0     Within 15 days          26,209   +   7,744      1,205   -      57
16 to 90 days          23          0     16 to 90 days           97,168   +   2,633         98           0
Over 90 days            0          0     91 days to 1 year      138,034   -   6,230        100           0
                                         Over 1 to 5 years       97,786           0        103           0
                                         Over 5 to 10 years      43,015   +       1        200           0
                                         Over 10 years           50,778           0         25           0
    Total             196          0         Total              452,990   +   4,149      1,731   -      57

1  Includes $ 2,450 million of inflation-indexed securities valued at the original face amount and 
   $ 36 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      June 24, 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                      11,049        582      4,209        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                                             411         18         23         19         25         42         56         56         22         17         34         42         56
				       
Loans                                            196          0          0          1          0          0         11         33         27         69         27          2         26
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Federal agency obligations	       
  Bought outright                                551         30        204         16         36         43         33         53         19          6         15         25         69
  Held under repurchase agreements(1)          1,180          0      1,180          0          0          0          0          0          0          0          0          0          0
U.S. government securities	       
  Bought outright--Bills                     198,987     10,837     73,753      5,785     12,933     15,675     12,105     19,103      6,993      2,186      5,520      9,048     25,050
                   Notes (2)                 180,593      9,836     66,935      5,250     11,737     14,226     10,986     17,337      6,346      1,984      5,010      8,211     22,734
                   Bonds (3)                  61,915      3,372     22,948      1,800      4,024      4,877      3,766      5,944      2,176        680      1,718      2,815      7,794
     Total bought outright(4)                441,495     24,045    163,636     12,836     28,694     34,778     26,857     42,384     15,515      4,850     12,247     20,074     55,579
  Held under repurchase agreements(1)         11,495          0     11,495          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             452,990     24,045    175,131     12,836     28,694     34,778     26,857     42,384     15,515      4,850     12,247     20,074     55,579
       Total loans and securities            454,916     24,075    176,515     12,852     28,730     34,822     26,901     42,470     15,561      4,926     12,290     20,101     55,674
				       
Items in process of collection                 6,908        575        713        238        352        449        754        545        301        531        472        359      1,619
Bank premises                                  1,291         93        159         50        148        125         81        108         31        131         54        149        160
Other assets(5)                               31,875      1,464     10,425      1,325      1,852      3,717      1,862      2,909        808        787        730      1,432      4,563
Interdistrict settlement account                   0     -3,041    +18,997       -779     -2,075     -4,336       -489     -2,593       -908       +443     +1,323     +2,180     -8,722
          TOTAL ASSETS                       515,651     24,297    214,242     14,310     30,249     36,419     30,483     45,393     16,513      7,086     15,439     25,161     56,056

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 
   $ 34 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
3  Includes $ 400 million of inflation-indexed securities valued at the original face amount and 
   $ 2 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Net of $ 16,712 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes $ 186 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 $ 156 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      June 24, 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                        456,844     22,383    184,937     12,681     28,238     32,471     27,172     41,298     15,350      5,525     13,987     23,053     49,749
Deposits			      	      
  Depository institutions                     12,660        664      1,989        689        585        837      1,377      1,824        472        580        535      1,027      2,079
  U.S. Treasury--general account              22,464          0     22,464          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                     154          7         39          8          9         22          9         14          3          5          3          7         26
  Other                                          325          1        102          1          4         55          1        157          0          0          3          1          1
    Total deposits                            35,603        672     24,594        697        598        914      1,388      1,995        475        586        541      1,035      2,106
Deferred credit items                          6,538        433        645        208        326        543        669        548        247        505        471        322      1,620
Other liabilities and accrued	      	      
  dividends (1)                                4,741        265      1,601        170        299        394        320        457        188         89        164        223        571
    TOTAL LIABILITIES                        503,725     23,753    211,777     13,756     29,461     34,323     29,549     44,298     16,259      6,705     15,163     24,634     54,047
				      	      
       CAPITAL ACCOUNTS		      	      
Capital paid in                                5,789        264      1,163        267        385      1,033        464        537        122        191        136        235        991
Surplus                                        5,220        254      1,055        273        335        818        338        502        122        189        119        271        945
Other capital accounts                           916         27        246         13         67        245        132         56         10          2         21         22         73
     TOTAL LIABILITIES AND CAPITAL    	      
        ACCOUNTS                             515,651     24,297    214,242     14,310     30,249     36,419     30,483     45,393     16,513      7,086     15,439     25,161     56,056
				      	      
FEDERAL RESERVE AGENTS' ACCOUNTS      	      
				      	      
F.R. notes outstanding                       567,476     26,299    231,006     15,296     31,363     39,483     35,827     50,251     17,539      7,183     16,258     29,124     67,846
  Less--Held by F.R. Banks                   110,633      3,916     46,069      2,616      3,125      7,012      8,655      8,953      2,189      1,658      2,271      6,072     18,097
  F.R. notes, net                            456,844     22,383    184,937     12,681     28,238     32,471     27,172     41,298     15,350      5,525     13,987     23,053     49,749
Collateral held against F.R. notes    	      
   Gold certificate account                   11,049
   Special drawing rights	      	      
     certificate account                       9,200
   Other eligible assets                           0
   U.S. govt. and agency securities          436,594
     Total collateral                        456,844

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.

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Last update: June 25, 1998