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 July 31, 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 Jul 30, 1997 Jul 23, 1997 Jul 31, 1996 Jul 30, 1997 Reserve Bank Credit (1,2) 447,422 + 1,053 + 22,855 453,635 U.S. government securities Bought outright-system account (3) 409,823 - 995 + 26,774 408,992 Held under repurchase agreements 3,315 + 1,602 - 2,762 8,927 Federal agency obligations Bought outright 1,209 0 - 1,127 1,209 Held under repurchase agreements 350 + 187 - 57 975 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 216 + 189 - 45 1,286 Seasonal credit 378 + 31 + 70 392 Extended credit 0 0 0 0 Float 119 - 440 - 154 -593 Other F.R. assets 32,011 + 479 + 156 32,446 Gold stock 11,050 + 1 0 11,051 Special drawing rights certificate account 9,200 0 - 968 9,200 Treasury currency outstanding 25,413 + 14 + 794 25,413 Total factors supplying reserve funds 493,085 + 1,068 + 22,681 499,299 Currency in circulation* 454,440 - 800 + 27,223 455,487 Treasury cash holdings* 321 - 13 + 63 311 Deposits,other than reserve balances,with F.R.Banks Treasury 4,877 - 335 - 507 5,153 Foreign 172 + 4 + 8 170 Service-related balances and adjustments (4) 7,364 + 67 + 1,083 7,364 Other 316 + 5 + 21 316 Other F.R. liabilities and capital 15,670 + 327 + 1,785 15,540 Total factors, other than reserve balances, absorbing reserve funds 483,159 - 746 + 29,675 484,341 Reserve balances with F.R. Banks (5) 9,926 + 1,814 - 6,994 14,958 On July 30, 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 $ 631,119 million, a change of + $ 1,139 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 14,567 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 14,567 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 15,398 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 15,398 million was with foreign official and international accounts. Includes $ 80 million securities loaned--fully secured U.S. government securities. 3 Includes $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 8 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 7,088 million and adjustments of $ 277 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 Jul 30, 1997 Jul 23, 1997 Jul 31, 1996 ASSETS Gold certificate account 11,051 + 1 + 1 Special drawing rights certificate account 9,200 0 - 968 Coin 477 + 6 - 44 Loans 1,679 + 1,312 - 39 Acceptances 0 0 0 Federal agency obligations Bought outright 1,209 0 - 1,127 Held under repurchase agreements (1) 975 + 785 + 693 U.S. government securities Bought outright--Bills 194,207 - 884 + 8,373 Notes (2) 160,524 0 + 10,422 Bonds 54,261 0 + 7,819 Total bought outright (3) 408,992 - 885 + 26,614 Held under repurchase agreements (1) 8,927 + 7,277 - 6,531 Total U.S. government securities 417,919 + 6,392 + 20,083 Total loans and securities 421,782 + 8,490 + 19,609 Items in process of collection (377) 5,733 - 691 - 410 Bank premises 1,258 - 1 + 68 Other assets (4) 31,073 + 682 - 1,459 TOTAL ASSETS (377) 480,574 + 8,486 + 16,797 LIABILITIES Federal Reserve notes 430,862 - 258 + 25,931 Deposits Depository institutions 22,984 + 8,316 - 8,068 U.S. Treasury--general account 5,153 + 211 - 1,683 Foreign--official accounts 170 + 8 + 4 Other 316 + 9 + 38 Total deposits 28,624 + 8,544 - 9,709 Deferred availability cash items (377) 5,549 - 202 - 149 Other liabilities and accrued dividends (5) 4,929 + 354 - 227 TOTAL LIABILITIES (377) 469,963 + 8,438 + 15,848 CAPITAL ACCOUNTS Capital paid in 5,087 + 8 + 650 Surplus 4,496 0 + 529 Other capital accounts 1,028 + 39 - 230 *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 $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 8 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 15,398 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 80 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 $ 120 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, JULY 30, 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 1606 0 Within 15 days 16,820 + 1,338 1154 + 800 16 days to 90 73 0 16 days to 90 days 92,691 - 1,476 185 - 15 Over 90 days 0 0 91 days to 1 year 131,377 + 6,530 130 0 Over 1 year to 5 years 94,004 0 401 0 Over 5 years to 10 years 39,016 0 290 0 Over 10 years 44,011 0 25 0 Total 1679 0 Total 417,919 + 6,392 2184 + 785 1 Includes $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 8 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 JULY 30, 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 11,051 624 3,938 350 669 965 723 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 477 12 18 53 23 76 58 57 23 19 37 43 58 Loans 1,679 1 1,037 0 0 0 14 322 86 160 41 7 12 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 1,209 74 391 40 84 115 81 129 48 17 35 44 152 Held under repurchase agreements(1) 975 0 975 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 194,207 11,839 62,816 6,492 13,433 18,478 12,960 20,715 7,735 2,705 5,545 7,053 24,434 Notes (2) 160,524 9,786 51,922 5,366 11,104 15,273 10,712 17,122 6,393 2,236 4,584 5,830 20,197 Bonds 54,261 3,308 17,551 1,814 3,753 5,163 3,621 5,788 2,161 756 1,549 1,971 6,827 Total bought outright(3) 408,992 24,933 132,289 13,673 28,290 38,914 27,292 43,625 16,290 5,696 11,678 14,853 51,458 Held under repurchase agreements(1) 8,927 0 8,927 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 417,919 24,933 141,216 13,673 28,290 38,914 27,292 43,625 16,290 5,696 11,678 14,853 51,458 Total loans and securities 421,782 25,008 143,619 13,714 28,374 39,029 27,387 44,076 16,424 5,872 11,754 14,904 51,622 Items in process of collection 6,110 412 830 237 233 438 528 511 217 511 424 352 1,416 Bank premises 1,258 94 153 50 117 126 76 109 30 138 55 151 159 Other assets(4) 31,073 1,345 9,344 1,455 1,910 2,418 2,441 3,383 897 595 1,015 1,433 4,836 Interdistrict settlement account -0 -1629 18221 -2153 -600 -5893 -2761 -5318 -2716 -1169 -1384 3134 2268 TOTAL ASSETS 480,951 26,396 179,325 13,987 31,300 37,951 29,054 44,787 15,616 6,236 12,435 20,843 63,020 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 $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 8 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 15,398 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 80 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 $ 120 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 JULY 30, 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 430,862 23,762 162,913 12,132 29,155 33,994 25,743 39,945 14,313 4,497 10,607 17,975 55,825 Deposits Depository institutions 22,984 1,554 6,521 866 875 1,605 1,582 2,609 663 817 949 1,823 3,121 U.S. Treasury--general account 5,153 0 5,153 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 170 5 59 9 9 10 13 17 4 3 5 8 28 Other 316 1 99 1 3 86 1 121 0 1 1 1 1 Total deposits 28,624 1,560 11,832 875 887 1,701 1,596 2,746 666 822 956 1,832 3,150 Deferred credit items 5,926 388 714 212 207 436 621 537 201 480 385 307 1,438 Other liabilities and accrued dividends (1) 4,929 290 1,584 186 322 443 343 510 206 101 174 193 577 TOTAL LIABILITIES 470,340 26,000 177,043 13,404 30,572 36,574 28,303 43,738 15,386 5,899 12,123 20,307 60,990 CAPITAL ACCOUNTS Capital paid in 5,087 185 1,080 287 352 703 318 491 112 167 134 263 995 Surplus 4,496 168 1,023 268 286 310 415 524 112 104 171 250 865 Other capital accounts 1,028 43 179 28 91 364 18 34 6 66 8 23 170 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 480,951 26,396 179,325 13,987 31,300 37,951 29,054 44,787 15,616 6,236 12,435 20,843 63,020 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 541,296 29,680 206,241 15,708 32,736 40,313 34,438 48,705 16,864 6,143 12,353 24,353 73,764 Less--Held by F.R. Banks 110,434 5,918 43,329 3,576 3,581 6,319 8,694 8,760 2,551 1,645 1,745 6,378 17,939 F.R. notes, net 430,862 23,762 162,913 12,132 29,155 33,994 25,743 39,945 14,313 4,497 10,607 17,975 55,825 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 410,611 Total collateral 430,862 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.