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Release Date: December 17, 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
December 17, 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 Dec 16, 1998 Dec 9, 1998 Dec 17, 1997 Dec 16, 1998
Reserve Bank Credit (1,2) 503,135 + 7,118 + 36,446 503,861
U.S. government securities
Bought outright-system account (3) 454,019 - 511 + 23,600 455,035
Held under repurchase agreements 6,909 + 3,400 + 4,009 5,702
Federal agency obligations
Bought outright 338 - 30 - 347 338
Held under repurchase agreements 6,380 + 3,135 + 5,582 7,181
Acceptances 0 0 0 0
Loans to depository institutions
Adjustment credit 25 + 23 - 253 145
Seasonal credit 13 + 1 - 71 14
Extended credit 0 0 0 0
Float 598 - 169 + 113 740
Other F.R. assets 34,853 + 1,269 + 3,814 34,707
Gold stock 11,041 0 - 8 11,041
Special drawing rights certificate account 9,200 0 0 9,200
Treasury currency outstanding 26,149 + 14 + 547 26,149
Total factors supplying reserve funds 549,524 + 7,132 + 36,985 550,250
Currency in circulation* 507,706 + 1,013 + 34,625 509,843
Treasury cash holdings* 87 - 11 - 144 84
Deposits,other than reserve balances,with F.R.Banks
Treasury 6,324 + 1,289 - 6 8,628
Foreign 195 + 41 + 25 170
Service-related balances and adjustments (4) 6,705 - 40 - 98 6,705
Other 290 - 56 - 89 263
Other F.R. liabilities and capital 17,113 + 614 + 921 16,965
Total factors, other than reserve balances,
absorbing reserve funds 538,419 + 2,850 + 35,234 542,657
Reserve balances with F.R. Banks (5) 11,105 + 4,282 + 1,751 7,593
On December 16, 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 597,588 million, a change of
+$ 1,405 million for the week. The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1 Net of $ 19,044 million daily average, matched sale-purchase transactions outstanding during the
latest statement week, of which a net of $ 19,044 million was with foreign official and international
accounts. Includes securities loaned--fully secured by U.S. government securities.
2 Net of $ 18,029 million matched sale-purchase transactions outstanding at the end of the latest
statement week, of which a net of $ 18,029 million was with foreign official and international
accounts. Includes $ 222 million securities loaned--fully secured U.S. government securities.
3 Includes $ 3,687 million of inflation-indexed securities valued at the original face amount and
$ 75 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Consists of required clearing balances of $ 6,559 million and adjustments of $ 145 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
Dec 16, 1998 Dec 9, 1998 Dec 17, 1997
ASSETS
Gold certificate account 11,041 0 - 8
Special drawing rights certificate account 9,200 0 0
Coin 399 + 14 - 97
Loans 159 + 142 - 819
Acceptances 0 0 0
Federal agency obligations
Bought outright 338 - 30 - 347
Held under repurchase agreements (1) 7,181 + 3,695 + 5,301
U.S. government securities
Bought outright--Bills 197,671 + 258 + 736
Notes (2) 187,891 + 2 + 13,687
Bonds (3) 69,473 0 + 10,066
Total bought outright (4) 455,035 + 260 + 24,489
Held under repurchase agreements (1) 5,702 + 805 - 3,713
Total U.S. government securities 460,737 + 1,065 + 20,776
Total loans and securities 468,415 + 4,871 + 24,911
Items in process of collection (630) 8,751 + 378 + 736
Bank premises 1,296 + 1 + 29
Other assets (5) 33,497 + 404 + 2,642
TOTAL ASSETS (630) 532,600 + 5,669 + 28,212
LIABILITIES
Federal Reserve notes 484,177 + 1,977 + 33,710
Deposits
Depository institutions 14,662 - 1,356 - 7,785
U.S. Treasury--general account 8,628 + 4,429 + 1,135
Foreign--official accounts 170 + 14 + 16
Other 263 - 64 - 118
Total deposits 23,722 + 3,024 - 6,752
Deferred availability cash items (630) 7,735 + 352 + 309
Other liabilities and accrued dividends (6) 4,477 + 120 - 464
TOTAL LIABILITIES (630) 520,112 + 5,473 + 26,804
CAPITAL ACCOUNTS
Capital paid in 5,942 + 5 + 586
Surplus 5,220 0 + 832
Other capital accounts 1,325 + 191 - 10
*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 $ 2,867 million of inflation-indexed securities valued at the original face amount and
$ 64 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
3 Includes $ 820 million of inflation-indexed securities valued at the original face amount and
$ 10 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Net of $ 18,029 million matched sale-purchase transactions outstanding at the end of the latest
statement week. Includes $ 222 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 $ 55 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, December 16, 1998
Holdings of securities include securitites held under repurchase agreements, which are classified according
to remaining maturity.
Millions of dollars
U.S. government Federal agency
Loans Acceptances securities (1) obligations
Weekly Weekly
Holdings changes Holdings changes
Within 15 days 157 0 Within 15 days 12,481 - 2,650 4,553 + 3,665
16 to 90 days 2 0 16 to 90 days 102,763 - 1,808 2,655 + 25
Over 90 days 0 0 91 days to 1 year 137,657 + 5,520 75 - 25
Over 1 to 5 years 107,349 + 1 61 + 10
Over 5 to 10 years 44,820 + 1 175 - 10
Over 10 years 55,668 0 0 0
Total 159 0 Total 460,737 + 1,065 7,519 + 3,665
1 Includes $ 3,687 million of inflation-indexed securities valued at the original face amount and
$ 75 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 December 16, 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 11,041 582 4,201 323 643 807 717 998 358 128 289 530 1,465
Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241
Coin 399 29 18 23 17 55 52 42 20 17 28 43 55
Loans 159 0 0 3 0 19 0 113 1 4 8 0 11
Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal agency obligations
Bought outright 338 18 125 10 22 27 21 32 12 4 9 15 42
Held under repurchase agreements(1) 7,181 0 7,181 0 0 0 0 0 0 0 0 0 0
U.S. government securities
Bought outright--Bills 197,671 10,766 73,265 5,747 12,847 15,571 12,024 18,977 6,946 2,172 5,484 8,988 24,884
Notes (2) 187,891 10,233 69,640 5,463 12,212 14,801 11,430 18,038 6,603 2,064 5,212 8,543 23,653
Bonds (3) 69,473 3,784 25,749 2,020 4,515 5,473 4,226 6,670 2,441 763 1,927 3,159 8,746
Total bought outright(4) 455,035 24,782 168,654 13,230 29,574 35,845 27,680 43,684 15,991 4,999 12,623 20,690 57,283
Held under repurchase agreements(1) 5,702 0 5,702 0 0 0 0 0 0 0 0 0 0
Total U.S. govt. securities 460,737 24,782 174,356 13,230 29,574 35,845 27,680 43,684 15,991 4,999 12,623 20,690 57,283
Total loans and securities 468,415 24,801 181,662 13,242 29,596 35,891 27,701 43,830 16,004 5,007 12,641 20,705 57,336
Items in process of collection 9,382 673 1,092 475 323 661 963 886 426 589 648 489 2,156
Bank premises 1,296 94 158 51 156 125 81 107 31 131 54 149 162
Other assets(5) 33,497 1,580 10,379 1,461 2,014 3,996 2,026 3,043 872 846 786 1,552 4,941
Interdistrict settlement account 0 +8 +7,745 +1,618 -5,156 +3,573 +3,900 -1,918 -2,283 +1,063 +1,036 +1,271 -10,857
TOTAL ASSETS 533,230 28,298 208,457 17,475 28,166 45,900 36,042 47,887 15,769 7,903 15,729 25,105 56,500
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 $ 2,867 million of inflation-indexed securities valued at the original face amount and
$ 64 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
3 Includes $ 820 million of inflation-indexed securities valued at the original face amount and
$ 10 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Net of $ 18,029 million matched sale-purchase transactions outstanding at the end of the latest
statement week. Includes $ 222 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 $ 55 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 December 16, 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 484,177 25,888 192,284 15,954 25,878 40,520 32,411 43,850 14,408 6,071 14,060 22,858 49,995
Deposits
Depository institutions 14,662 1,093 2,330 582 844 1,686 1,399 1,674 539 729 714 1,130 1,940
U.S. Treasury--general account 8,628 0 8,628 0 0 0 0 0 0 0 0 0 0
Foreign--official accounts 170 7 55 8 9 22 9 14 3 5 3 7 26
Other 263 0 106 2 3 68 4 56 2 1 19 1 2
Total deposits 23,722 1,101 11,119 591 856 1,776 1,412 1,744 544 736 736 1,139 1,968
Deferred credit items 8,365 505 885 309 320 750 1,057 665 390 609 485 377 2,013
Other liabilities and accrued
dividends (1) 4,477 245 1,548 158 284 371 298 425 172 87 154 210 525
TOTAL LIABILITIES 520,742 27,739 205,836 17,012 27,338 43,416 35,178 46,684 15,515 7,503 15,435 24,585 54,501
CAPITAL ACCOUNTS
Capital paid in 5,942 266 1,209 175 398 1,237 417 579 120 202 140 227 971
Surplus 5,220 254 1,055 273 335 818 338 502 122 189 119 271 945
Other capital accounts 1,325 39 357 16 94 428 108 122 13 9 35 22 84
TOTAL LIABILITIES AND CAPITAL
ACCOUNTS 533,230 28,298 208,457 17,475 28,166 45,900 36,042 47,887 15,769 7,903 15,729 25,105 56,500
FEDERAL RESERVE AGENTS' ACCOUNTS
F.R. notes outstanding 613,352 30,354 240,287 18,484 29,731 50,616 44,400 54,390 17,295 7,746 17,253 33,927 68,869
Less--Held by F.R. Banks 129,175 4,466 48,003 2,531 3,853 10,097 11,989 10,539 2,887 1,675 3,193 11,068 18,874
F.R. notes, net 484,177 25,888 192,284 15,954 25,878 40,520 32,411 43,850 14,408 6,071 14,060 22,858 49,995
Collateral held against F.R. notes
Gold certificate account 11,041
Special drawing rights
certificate account 9,200
Other eligible assets 0
U.S. govt. and agency securities 463,937
Total collateral 484,177
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: December 17, 1998