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 13, 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 12, 1997 Mar 5, 1997 Mar 13, 1996 Mar 12, 1997 Reserve Bank Credit (1,2) 437,364 + 2,153 + 22,677 443,671 U.S. government securities Bought outright-system account (3) 395,326 + 3,211 + 18,213 396,075 Held under repurchase agreements 8,345 - 845 + 5,754 12,809 Federal agency obligations Bought outright 2,011 0 - 556 2,011 Held under repurchase agreements 1,294 - 66 + 980 2,179 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 2 - 12 - 3 3 Seasonal credit 26 - 2 + 19 32 Extended credit 0 0 0 0 Float 492 - 462 - 778 109 Other F.R. assets 29,868 + 328 - 952 30,452 Gold stock 11,051 0 - 2 11,051 Special drawing rights certificate account 9,200 - 171 - 968 9,200 Treasury currency outstanding 25,121 + 14 + 906 25,121 Total factors supplying reserve funds 482,736 + 1,995 + 22,613 489,043 Currency in circulation* 443,507 + 1,145 + 27,720 444,496 Treasury cash holdings* 283 + 4 + 1 302 Deposits,other than reserve balances,with F.R.Banks Treasury 5,169 + 20 - 339 5,285 Foreign 176 - 33 - 5 222 Service-related balances and adjustments (4) 7,105 - 30 + 677 7,105 Other 408 + 38 + 16 409 Other F.R. liabilities and capital 14,397 + 244 + 1,087 14,515 Total factors, other than reserve balances, absorbing reserve funds 471,043 + 1,388 + 29,157 472,333 Reserve balances with F.R. Banks (5) 11,693 + 607 - 6,545 16,710 On March 12, 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 $ 644,657 million, a change of + $ 1,343 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 13,381 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 13,381 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 13,430 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 13,430 million was with foreign official and international accounts. Includes $ 70 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 $ 6,817 million and adjustments of $ 287 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 12, 1997 Mar 5, 1997 Mar 13, 1996 ASSETS Gold certificate account 11,051 0 - 2 Special drawing rights certificate account 9,200 0 - 968 Coin 701 - 15 + 151 Loans 35 + 7 + 21 Acceptances 0 0 0 Federal agency obligations Bought outright 2,011 0 - 528 Held under repurchase agreements (1) 2,179 + 1,544 + 1,079 U.S. government securities Bought outright--Bills 191,573 + 128 + 7,967 Notes (2) 153,103 + 1,438 + 4,218 Bonds 51,399 + 1,117 + 6,431 Total bought outright (3) 396,075 + 2,683 + 18,616 Held under repurchase agreements (1) 12,809 + 5,785 + 2,316 Total U.S. government securities 408,884 + 8,468 + 20,932 Total loans and securities 413,110 + 10,019 + 21,504 Items in process of collection (361) 6,575 - 1,706 + 643 Bank premises 1,248 + 3 + 98 Other assets (4) 29,266 + 995 - 963 TOTAL ASSETS (361) 471,150 + 9,297 + 20,462 LIABILITIES Federal Reserve notes 420,378 + 838 + 26,696 Deposits Depository institutions 24,309 + 8,546 - 8,573 U.S. Treasury--general account 5,285 + 46 + 80 Foreign--official accounts 222 + 58 + 56 Other 409 - 9 + 33 Total deposits 30,225 + 8,641 - 8,405 Deferred availability cash items (361) 6,032 - 853 + 623 Other liabilities and accrued dividends (5) 4,792 + 319 + 312 TOTAL LIABILITIES (361) 461,427 + 8,946 + 19,227 CAPITAL ACCOUNTS Capital paid in 4,755 + 23 + 724 Surplus 4,476 + 36 + 510 Other capital accounts 492 + 292 + 1 *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 $ 13,430 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 70 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 12, 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 15 0 Within 15 days 20,033 + 743 2196 + 1561 16 days to 90 20 0 16 days to 90 days 95,994 + 370 782 + 20 Over 90 days 0 0 91 days to 1 year 121,565 + 4,800 281 + 23 Over 1 year to 5 years 92,568 + 1,438 460 - 50 Over 5 years to 10 years 36,607 0 447 - 10 Over 10 years 42,117 + 1,117 25 0 Total 35 0 Total 408,884 + 8,468 4190 + 1544 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 12, 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 701 21 35 61 34 121 88 82 31 26 56 58 89 Loans 35 12 0 0 0 0 0 4 7 6 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) 2,179 0 2,179 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 191,573 11,272 71,245 7,414 11,260 15,886 12,785 20,761 8,974 2,889 6,001 6,860 16,226 Notes (2) 153,103 9,008 56,938 5,926 8,999 12,696 10,217 16,592 7,172 2,309 4,796 5,482 12,967 Bonds 51,399 3,024 19,115 1,989 3,021 4,262 3,430 5,570 2,408 775 1,610 1,841 4,353 Total bought outright(3) 396,075 23,304 147,299 15,329 23,279 32,844 26,432 42,924 18,555 5,974 12,406 14,183 33,546 Held under repurchase agreements(1) 12,809 0 12,809 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 408,884 23,304 160,108 15,329 23,279 32,844 26,432 42,924 18,555 5,974 12,406 14,183 33,546 Total loans and securities 413,110 23,434 163,035 15,407 23,398 33,011 26,567 43,146 18,655 6,010 12,476 14,255 33,717 Items in process of collection 6,936 398 851 352 255 533 882 532 297 456 403 359 1,617 Bank premises 1,248 95 153 50 111 127 80 109 30 121 56 154 160 Other assets(4) 29,266 1,210 9,241 1,433 1,684 2,159 2,301 3,228 864 571 984 1,349 4,242 Interdistrict settlement account 0 345 -21,702 -2,748 3,563 3,100 -2,403 -2,185 -3,240 -512 -1,027 5,553 21,258 TOTAL ASSETS 471,511 26,693 158,866 15,260 30,243 40,762 28,887 46,952 17,451 6,963 13,515 22,528 63,391 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 $ 13,430 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 70 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 12, 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 420,378 23,710 142,740 12,650 28,189 37,243 24,766 42,138 15,934 5,139 11,536 19,781 56,551 Deposits Depository institutions 24,309 1,924 5,872 1,585 921 1,813 1,987 2,485 827 1,039 1,045 1,746 3,065 U.S. Treasury--general account 5,285 0 5,285 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 222 5 111 9 9 10 13 17 4 3 5 8 28 Other 409 1 108 1 2 117 9 166 0 1 3 1 1 Total deposits 30,225 1,930 11,375 1,594 932 1,940 2,009 2,668 831 1,043 1,054 1,755 3,094 Deferred credit items 6,393 399 727 236 263 521 840 519 215 454 384 278 1,558 Other liabilities and accrued dividends (1) 4,792 276 1,714 203 272 382 338 497 223 105 177 187 418 TOTAL LIABILITIES 461,788 26,315 156,557 14,683 29,656 40,085 27,953 45,821 17,203 6,741 13,150 22,001 61,621 CAPITAL ACCOUNTS Capital paid in 4,755 178 1,078 286 283 333 464 547 115 111 179 259 923 Surplus 4,476 168 1,023 268 286 310 415 524 112 104 171 250 846 Other capital accounts 492 32 208 23 18 34 55 59 21 8 15 17 0 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 471,511 26,693 158,866 15,260 30,243 40,762 28,887 46,952 17,451 6,963 13,515 22,528 63,391 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 524,727 29,691 185,264 15,677 31,516 43,450 32,704 49,866 18,567 6,721 13,546 25,130 72,597 Less--Held by F.R. Banks 104,350 5,981 42,524 3,026 3,327 6,207 7,938 7,728 2,632 1,582 2,010 5,349 16,045 F.R. notes, net 420,378 23,710 142,740 12,650 28,189 37,243 24,766 42,138 15,934 5,139 11,536 19,781 56,551 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 400,127 Total collateral 420,378 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.