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

Release Date: February 12, 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
                                                                                          February 12, 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     Feb 11, 1998  Feb 4, 1998 Feb 12, 1997 Feb 11, 1998

Reserve Bank Credit  (1,2)                                  461,319    -   1,810    +  28,789      466,851
  U.S. government securities			        		      		     		   
    Bought outright-system account (3)                      427,093    -     711    +  35,426      429,481
    Held under repurchase agreements                            274    -     466    -   4,403        1,915
  Federal agency obligations			        		      		     		   
    Bought outright                                             682    -       3    -   1,356          675
    Held under repurchase agreements                            163    -     580    -   2,408        1,140
  Acceptances                                                     0            0            0            0
  Loans to depository institutions		        		      		     		   
    Adjustment credit                                            25    -      66    +       6            2
    Seasonal credit                                               9            0    -      10           14
    Extended credit                                               0            0            0            0
   Float                                                        992    -      12    +     707        1,108
   Other F.R. assets                                         32,082    +      28    +     827       32,517
Gold stock                                                   11,046            0    -       3       11,047
Special drawing rights certificate account                    9,200            0    -     200        9,200
Treasury currency outstanding                                25,738    +      14    +     676       25,738
        Total factors supplying reserve funds               507,303    -   1,796    +  29,262      512,836
						        		      		     		   
Currency in circulation*                                    470,624    +   1,274    +  30,485      472,421
Treasury cash holdings*                                         223    +       2    -      38          227
Deposits,other than reserve balances,with F.R.Banks     		      		     		   
  Treasury                                                    5,062    -     634    +     234        4,401
  Foreign                                                       163    -      37    -       4          152
  Service-related balances and adjustments (4)                7,118    -     159    -     154        7,118
  Other                                                         422    +      48    +      31          402
Other F.R. liabilities and capital                           16,140    +     208    +   2,167       15,972
        Total factors, other than reserve balances,     		      		     		   
        absorbing reserve funds                             499,753    +     702    +  32,721      500,692

Reserve balances with F.R. Banks  (5)                         7,550    -   2,498    -   3,459       12,144
						       		      		     		    
On  February 11, 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 600,485 million, a change of 
 -$ 1,993 million for the week.  The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1  Net of $ 18,190 million daily average, matched sale-purchase transactions outstanding during the 
   latest statement week, of which a net of $ 15,978 million was with foreign official and international
   accounts.  Includes securities loaned--fully secured by U.S. government securities.
2  Net of $ 15,802 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week, of which a net of $ 15,802 million was with foreign official and international 
   accounts.  Includes $ 120 million securities loaned--fully secured U.S. government securities.
3  Includes $ 2050 million of inflation-indexed securities valued at the original face amount and 
   $ 21 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Consists of required clearing balances of $ 6,717 million and adjustments of $ 401 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
                                                           Feb 11, 1998      Feb 4, 1998     Feb 12, 1997
                ASSETS
Gold certificate account                                        11,047        +       1        -       3
Special drawing rights certificate account                       9,200                0        -     200
Coin                                                               578        +      18        -     145
					      
Loans                                                               16        -     295        -      15
Acceptances                                                          0                0                0
Federal agency obligations		      
  Bought outright                                                  675        -      10        -   1,364
  Held under repurchase agreements (1)                           1,140        +   1,140        -   1,959
U.S. government securities		      
  Bought outright--Bills                                       196,348        +   1,966        +   4,129
                   Notes (2)                                   173,726        -       1        +  23,061
                   Bonds                                        59,407                0        +  10,068
    Total bought outright (3)                                  429,481        +   1,965        +  37,258
  Held under repurchase agreements (1)                           1,915        +   1,915        -   6,450
     Total U.S. government securities                          431,396        +   3,880        +  30,808
       Total loans and securities                              433,226        +   4,715        +  27,471
					      
Items in process of collection                      (397)        8,000        -     236        +   1,888
Bank premises                                                    1,277        +       3        +      34
Other assets (4)                                                31,175        +     626        +     727
                TOTAL ASSETS                        (397)      494,502        +   5,128        +  29,772
					      
                LIABILITIES
Federal Reserve notes                                          447,487        +   1,567        +  29,941
Deposits		 		     
  Depository institutions                                       19,746        +   4,128        -   2,044
  U.S. Treasury--general account                                 4,401        -     391        -     734
  Foreign--official accounts                                       152        -      13        -      29
    Other                                                          402        -       9        +      19
      Total deposits                                            24,700        +   3,715        -   2,789
Deferred availability cash items                    (397)        6,343        -     521        +     776
Other liabilities and accrued dividends (5)                      4,759        +     283        +      37
                TOTAL LIABILITIES                   (397)      483,289        +   5,044        +  27,966
					      
                CAPITAL ACCOUNTS
Capital paid in                                                  5,472        -       6        +     769
Surplus                                                          5,220                0        +     847
Other capital accounts                                             521        +      89        +     190

*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 $ 2050 million of inflation-indexed securities valued at the original face amount and 
   $ 21 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
3  Net of $ 15,802 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes $ 120 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 $ 170 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,  February 11, 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          5          0     Within 15 days          13,830   -   4,840      1,140   +   1,130
16 to 90 days          10          0     16 to 90 days           94,304   +   2,211         94           0
Over 90 days            0          0     91 days to 1 year      139,163   +   6,510        150           0
                                         Over 1 to 5 years       94,484           0        151           0
                                         Over 5 to 10 years      41,306           0        255           0
                                         Over 10 years           48,308           0         25           0
    Total              16          0         Total              431,396   +   3,880      1,815   +   1,130

1  Includes $ 2050 million of inflation-indexed securities valued at the original face amount and 
   $ 21 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  February 11, 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                      11,047        624      3,934        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                                             578         34         25         63         35         73         59         74         23         23         37         53         77
				       
Loans                                             16          1          0          1          0          0          5          1          2          1          4          0          0
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Federal agency obligations	       
  Bought outright                                675         41        218         23         47         64         45         72         27          9         19         24         85
  Held under repurchase agreements(1)          1,140          0      1,140          0          0          0          0          0          0          0          0          0          0
U.S. government securities	       
  Bought outright--Bills                     196,348     11,970     63,509      6,564     13,582     18,682     13,102     20,943      7,820      2,734      5,607      7,131     24,704
                   Notes (2)                 173,726     10,591     56,192      5,808     12,017     16,529     11,593     18,530      6,919      2,419      4,961      6,309     21,858
                   Bonds                      59,407      3,622     19,215      1,986      4,109      5,652      3,964      6,337      2,366        827      1,696      2,157      7,474
     Total bought outright(3)                429,481     26,182    138,916     14,358     29,708     40,864     28,660     45,810     17,106      5,981     12,264     15,597     54,036
  Held under repurchase agreements(1)          1,915          0      1,915          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             431,396     26,182    140,831     14,358     29,708     40,864     28,660     45,810     17,106      5,981     12,264     15,597     54,036
       Total loans and securities            433,226     26,225    142,189     14,382     29,754     40,928     28,709     45,884     17,135      5,992     12,286     15,622     54,121
				       
Items in process of collection                 8,397        498        913        296        352        464      1,231        703        381        613        438        533      1,973
Bank premises                                  1,277         94        155         50        138        126         79        107         32        132         55        150        159
Other assets(4)                               31,175      1,581      8,838      1,317      1,942      3,932      1,967      3,110        889        821        792      1,355      4,631
Interdistrict settlement account                   0     -4,316    +31,616     -2,004     -2,300    -11,253     -1,525     -7,331     -1,706     -1,351       +581     +6,444     -6,855
          TOTAL ASSETS                       494,899     25,271    190,873     14,736     31,164     36,026     31,846     44,516     17,495      6,500     14,722     24,982     56,767

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 $ 2050 million of inflation-indexed securities valued at the original face amount and 
   $ 21 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
3  Net of $ 15,802 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes $ 120 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 $ 170 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  February 11, 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                        447,487     22,306    177,555     12,471     28,800     31,671     28,241     39,880     15,974      4,889     13,134     22,564     50,002
Deposits			      	      
  Depository institutions                     19,746      1,701      4,237      1,200        988      1,608      1,744      2,353        835        638        735      1,276      2,432
  U.S. Treasury--general account               4,401          0      4,401          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                     152          7         37          8          9         22          9         14          3          5          3          7         26
  Other                                          402          0        134          1          3         78          2        174          1          0          3          2          4
    Total deposits                            24,700      1,709      8,809      1,208      1,000      1,708      1,756      2,540        839        644        741      1,285      2,462
Deferred credit items                          6,740        418        764        230        308        503        775        515        234        482        400        366      1,745
Other liabilities and accrued	      	      
  dividends (1)                                4,759        293      1,426        189        321        443        341        506        203        100        171        193        572
    TOTAL LIABILITIES                        483,686     24,726    188,553     14,098     30,429     34,326     31,113     43,441     17,251      6,115     14,446     24,407     54,781
				      	      
       CAPITAL ACCOUNTS		      	      
Capital paid in                                5,472        263      1,109        317        357        834        360        522        115        189        136        285        984
Surplus                                        5,220        254      1,055        273        335        818        338        502        122        189        119        271        945
Other capital accounts                           521         29        156         48         43         49         34         51          8          7         21         18         58
     TOTAL LIABILITIES AND CAPITAL    	      
        ACCOUNTS                             494,899     25,271    190,873     14,736     31,164     36,026     31,846     44,516     17,495      6,500     14,722     24,982     56,767
				      	      
FEDERAL RESERVE AGENTS' ACCOUNTS      	      
				      	      
F.R. notes outstanding                       548,318     27,618    207,878     16,295     32,363     38,767     37,291     48,553     18,169      6,558     15,470     28,761     70,595
  Less--Held by F.R. Banks                   100,831      5,312     30,324      3,824      3,563      7,096      9,050      8,673      2,195      1,668      2,337      6,197     20,593
  F.R. notes, net                            447,487     22,306    177,555     12,471     28,800     31,671     28,241     39,880     15,974      4,889     13,134     22,564     50,002
Collateral held against F.R. notes    	      
   Gold certificate account                   11,047
   Special drawing rights	      	      
     certificate account                       9,200
   Other eligible assets                           0
   U.S. govt. and agency securities          427,240
     Total collateral                        447,487

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: February 12, 1998