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 December 12, 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 Dec 11, 1996 Dec 4, 1996 Dec 13, 1995 Dec 11, 1996 ________________________________________________________________________________________________________________ Reserve Bank credit 1 2 434,661 - 2,882 + 19,368 434,106 U.S. government securities Bought outright--system account 393,145 + 985 + 13,797 393,307 Held under repurchase agreements 6,506 - 2,774 + 5,931 5,919 Federal agency obligations Bought outright 2,233 - 3 - 435 2,225 Held under repurchase agreements 1,394 - 329 + 1,394 1,523 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 4 - 295 + 3 0 Seasonal credit 66 - 9 + 28 70 Extended credit 0 0 0 0 Float 719 - 31 - 88 193 Other F.R. assets 30,593 - 425 - 1,262 30,869 Gold stock 11,048 - 1 - 2 11,048 Special drawing rights certificate account 9,718 0 - 450 9,718 Treasury currency outstanding 24,906 + 14 + 954 24,906 -------------------------------------------------------- Total factors supplying reserve funds 480,334 - 2,868 + 19,870 479,778 Currency in circulation* 441,867 + 323 + 24,408 442,703 Treasury cash holdings* 264 - 8 - 7 259 Deposits, other than reserve balances, with F.R. Banks Treasury 4,926 + 417 - 634 4,896 Foreign 169 0 - 8 168 Service-related balances and adjustments 3 6,884 - 229 + 1,085 6,884 Other 339 + 29 + 16 351 Other F.R. liabilities and capital 14,149 - 27 + 1,523 14,235 -------------------------------------------------------- Total factors, other than reserve balances, absorbing reserve funds 468,597 + 506 + 26,383 469,496 Reserve balances with F.R. Banks 4 11,737 - 3,374 - 6,512 10,282 ---------------------------------------------------------------------------------------------------------------- On December 11, 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 $ 613,715 million, a change of - $ 3,234 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 12,468 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 12,468 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 12,306 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 12,306 million was with foreign official and international accounts. Includes $ 0 million securities loaned--fully secured U.S. government securities. 3 Consists of required clearing balances of $ 6,641 million and adjustments of $ 242 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 Dec 11, 1996 Dec 4, 1996 Dec 13, 1995 ---------------------------------------------------------------- ASSETS Gold certificate account 11,048 - 1 - 3 Special drawing rights certificate account 9,718 0 - 450 Coin 618 + 20 + 171 Loans 71 - 1,717 + 30 Acceptances 0 0 0 Federal agency obligations Bought outright 2,225 - 12 - 412 Held under repurchase agreements 1 1,523 + 905 + 1,523 U.S. government securities Bought outright--Bills 193,047 + 2,505 + 9,271 Notes 150,922 0 - 91 Bonds 49,339 0 + 5,270 ---------- ---------- ---------- Total bought outright 2 393,307 + 2,505 + 14,450 Held under repurchase agreements 1 5,919 - 7,482 + 3,907 ---------- ---------- ---------- Total U.S. government securities 399,226 - 4,977 + 18,357 ---------- ---------- ---------- Total loans and securities 403,044 - 5,802 + 19,497 Items in process of collection (430) 7,158 + 100 + 762 Bank premises 1,231 + 9 + 79 Other assets 3 29,789 - 233 - 1,333 ---------- ---------- ---------- TOTAL ASSETS (430) 462,606 - 5,907 + 18,723 LIABILITIES Federal Reserve notes 418,673 + 100 + 23,072 Deposits Depository institutions 18,027 - 6,364 - 6,212 U.S. Treasury--general account 4,896 + 107 - 660 Foreign--official accounts 168 + 2 - 11 Other (-1) 351 + 28 + 33 ---------- ---------- ---------- Total deposits (-1) 23,442 - 6,227 - 6,850 Deferred availability cash items (432) 6,256 - 131 + 915 Other liabilities and accrued dividends 4 4,720 + 107 + 403 ---------- ---------- ---------- TOTAL LIABILITIES (430) 453,091 - 6,150 + 17,539 CAPITAL ACCOUNTS Capital paid in 4,584 - 2 + 625 Surplus 3,860 0 + 177 Other capital accounts 1,070 + 245 + 382 ---------------------------------------------------------------------------------------------------------------- * 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 $ 12,306 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 0 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 $ 156 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, DECEMBER 11, 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 6 0 Within 15 days 20,621 - 5,151 1,523 + 893 16 days to 90 days 64 0 16 days to 90 days 91,835 + 4,967 964 0 Over 90 days 0 0 91 days to 1 year 115,649 - 4,793 249 0 Over 1 year to 5 years 95,513 0 520 0 Over 5 years to 10 years 33,782 0 467 0 Over 10 years 41,826 0 25 0 ---------- ---------- ---------- ---------- ---------- ---------- Total 71 0 Total 399,226 - 4,977 3,748 + 893 ---------------------------------------------------------------------------------------------------------------- Components may not add to totals due to rounding. 1 H.4.1 (b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 11, 1996 Millions of dollars ---------------------------------------------------------------------------------------------------------------------------------------------------------- | Total | Boston | New York| Phila. | Cleve.| Rich. |Atlanta| Chicago |S.Louis| Minneap.|KansasC| Dallas|San Fran. ----------------------------------------------------------------------------------------------------------------------- ASSETS Gold certificate account 11,048 661 4,049 423 624 919 769 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 618 18 21 46 27 113 88 69 30 20 59 51 76 Loans 71 1 0 0 0 0 0 8 7 42 11 1 0 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 2,225 131 827 86 131 184 148 241 104 34 70 80 188 Held under repurchase agreements 1 1,523 0 1,523 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 193,047 11,359 71,793 7,472 11,346 16,008 12,883 20,921 9,043 2,911 6,047 6,913 16,350 Notes 150,922 8,880 56,127 5,841 8,870 12,515 10,072 16,356 7,070 2,276 4,727 5,404 12,783 Bonds 49,339 2,903 18,349 1,910 2,900 4,091 3,293 5,347 2,311 744 1,545 1,767 4,179 ----------------------------------------------------------------------------------------------------------------------- Total bought outright 2 393,307 23,142 146,269 15,222 23,117 32,615 26,248 42,624 18,425 5,932 12,320 14,084 33,312 Held under repurchase agreements 1 5,919 0 5,919 0 0 0 0 0 0 0 0 0 0 ----------------------------------------------------------------------------------------------------------------------- Total U.S. govt. securities 399,226 23,142 152,188 15,222 23,117 32,615 26,248 42,624 18,425 5,932 12,320 14,084 33,312 ----------------------------------------------------------------------------------------------------------------------- Total loans and securities 403,044 23,274 154,538 15,309 23,248 32,799 26,396 42,872 18,536 6,007 12,400 14,164 33,500 Items in process of collection 7,589 453 984 271 318 555 889 627 335 487 403 590 1,677 Bank premises 1,231 94 149 49 106 128 82 110 30 111 56 155 161 Other assets 3 29,789 1,345 9,701 1,273 1,775 2,297 2,513 3,387 876 632 1,034 1,556 3,400 Interdistrict settlement account 0 +919 -24,139 -2,537 +5,061 +4,255 -515 -58 -2,710 -971 -614 +201 +21,109 ----------------------------------------------------------------------------------------------------------------------- TOTAL ASSETS 463,037 27,400 148,690 15,229 31,702 41,901 30,967 49,127 17,991 6,598 13,938 17,549 61,946 ----------------------------------------------------------------------------------------------------------------------- 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 $ 12,306 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 0 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 $ 156 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 DECEMBER 11, 1996 Millions of dollars ---------------------------------------------------------------------------------------------------------------------------------------------------------- | Total | Boston | New York| Phila. | Cleve.| Rich. |Atlanta| Chicago |S.Louis| Minneap.|KansasC| Dallas|San Fran. ----------------------------------------------------------------------------------------------------------------------- LIABILITIES Federal Reserve notes 418,673 25,099 135,383 13,613 29,936 38,719 27,038 44,391 16,749 5,433 12,378 14,820 55,115 Deposits Depository institutions 18,027 1,245 3,560 678 648 1,493 1,891 2,405 550 353 651 1,566 2,986 U.S. Treasury--general account 4,896 0 4,896 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 168 6 63 7 9 11 14 17 4 4 5 9 20 Other 350 1 115 1 6 57 7 159 1 1 2 1 2 ----------------------------------------------------------------------------------------------------------------------- Total deposits 23,441 1,252 8,634 686 663 1,560 1,912 2,581 555 357 659 1,575 3,007 Deferred credit items 6,688 424 782 219 237 586 824 556 225 490 363 346 1,636 Other liabilities and accrued dividends 1 4,720 265 1,627 197 263 371 323 484 215 102 175 292 405 ----------------------------------------------------------------------------------------------------------------------- TOTAL LIABILITIES 453,522 27,040 146,426 14,715 31,099 41,237 30,097 48,011 17,743 6,382 13,576 17,033 60,163 CAPITAL ACCOUNTS Capital paid in 4,584 170 1,056 257 292 318 426 537 114 106 176 254 879 Surplus 3,860 166 1,028 185 252 284 379 460 95 96 148 240 527 Other capital accounts 1,070 24 180 72 59 63 66 119 38 13 38 22 377 ----------------------------------------------------------------------------------------------------------------------- ACCOUNTS 463,037 27,400 148,690 15,229 31,702 41,901 30,967 49,127 17,991 6,598 13,938 17,549 61,946 ---------------------------------------------------------------------------------------------------------------------------------------------------------- FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 530,133 30,580 183,769 16,174 33,301 45,925 34,765 52,278 19,850 7,108 14,336 21,023 71,025 Less--Held by F.R. Banks 111,460 5,481 48,386 2,561 3,365 7,206 7,727 7,887 3,101 1,675 1,957 6,203 15,910 ----------------------------------------------------------------------------------------------------------------------- F.R. notes, net 418,673 25,099 135,383 13,613 29,936 38,719 27,038 44,391 16,749 5,433 12,378 14,820 55,115 Collateral held against F.R. notes Gold certificate account 11,048 Special drawing rights certificate account 9,718 Other eligible assets 0 U.S. govt. and agency securities 397,908 ------------ Total collateral 418,673 ----------------------------------------------------------------------------------------------------------------------- 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.