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 October 3, 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 Oct 2, 1996 Sep 25, 1996 Oct 4, 1995 Oct 2, 1996 ________________________________________________________________________________________________________________ Reserve Bank credit 1 2 425,884 - 1,836 + 15,488 422,808 U.S. government securities Bought outright--system account 386,255 - 1,322 + 16,671 386,957 Held under repurchase agreements 3,532 - 1,766 - 1,210 1,355 Federal agency obligations Bought outright 2,309 - 2 - 586 2,309 Held under repurchase agreements 1,003 + 918 + 971 444 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 240 + 220 + 164 4 Seasonal credit 302 - 21 + 47 280 Extended credit 0 0 0 0 Float 604 + 366 + 256 458 Other F.R. assets 31,639 - 229 - 826 31,000 Gold stock 11,050 0 - 1 11,050 Special drawing rights certificate account 9,718 0 - 450 9,718 Treasury currency outstanding 24,693 + 14 + 924 24,693 -------------------------------------------------------- Total factors supplying reserve funds 471,345 - 1,822 + 15,961 468,269 Currency in circulation* 430,325 + 164 + 20,194 431,586 Treasury cash holdings* 287 + 1 - 35 293 Deposits, other than reserve balances, with F.R. Banks Treasury 6,815 - 805 - 14 5,427 Foreign 190 + 20 + 4 183 Service-related balances and adjustments 3 6,541 + 38 + 1,775 6,541 Other 374 + 10 + 29 379 Other F.R. liabilities and capital 13,921 - 412 + 924 13,251 -------------------------------------------------------- Total factors, other than reserve balances, absorbing reserve funds 458,453 - 984 + 22,877 457,660 Reserve balances with F.R. Banks 4 12,892 - 838 - 6,916 10,609 ---------------------------------------------------------------------------------------------------------------- On October 2, 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 $ 591,049 million, a change of + $ 5,944 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 12,856 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 12,856 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 12,154 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 12,154 million was with foreign official and international accounts. Includes $ 762 million securities loaned--fully secured U.S. government securities. 3 Consists of required clearing balances of $ 6,271 million and adjustments of $ 270 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 Oct 2, 1996 Sep 25, 1996 Oct 4, 1995 ---------------------------------------------------------------- ASSETS Gold certificate account 11,050 0 - 1 Special drawing rights certificate account 9,718 0 - 450 Coin 595 + 11 + 175 Loans 284 - 101 + 47 Acceptances 0 0 0 Federal agency obligations Bought outright 2,309 0 - 586 Held under repurchase agreements 1 444 + 344 + 444 U.S. government securities Bought outright--Bills 186,697 - 2,655 + 6,009 Notes 152,392 0 + 4,488 Bonds 47,869 0 + 5,196 ---------- ---------- ---------- Total bought outright 2 386,957 - 2,655 + 15,693 Held under repurchase agreements 1 1,355 - 5,815 - 1,725 ---------- ---------- ---------- Total U.S. government securities 388,312 - 8,470 + 13,968 ---------- ---------- ---------- Total loans and securities 391,350 - 8,228 + 13,874 Items in process of collection (483) 7,459 + 1,671 + 1,222 Bank premises 1,207 - 1 + 93 Other assets 3 29,873 - 1,088 - 1,261 ---------- ---------- ---------- TOTAL ASSETS (483) 451,251 - 7,635 + 13,651 LIABILITIES Federal Reserve notes 407,781 + 782 + 19,018 Deposits Depository institutions 17,448 - 7,561 - 6,860 U.S. Treasury--general account 5,427 - 1,419 - 352 Foreign--official accounts 183 + 18 + 13 Other 379 + 10 + 26 ---------- ---------- ---------- Total deposits 23,437 - 8,951 - 7,173 Deferred availability cash items (483) 6,783 + 1,385 + 1,352 Other liabilities and accrued dividends 4 4,431 - 153 + 8 ---------- ---------- ---------- TOTAL LIABILITIES (483) 442,431 - 6,938 + 13,204 CAPITAL ACCOUNTS Capital paid in 4,535 - 14 + 619 Surplus 3,850 - 116 + 176 Other capital accounts 435 - 567 - 348 ---------------------------------------------------------------------------------------------------------------- * 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 $ 12,154 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 762 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 $ 160 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, OCTOBER 2, 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 62 0 Within 15 days 14,921 - 5,079 544 + 109 16 days to 90 days 222 0 16 days to 90 days 89,725 - 3,397 566 0 Over 90 days 0 0 91 days to 1 year 114,126 - 498 712 + 235 Over 1 year to 5 years 95,531 + 504 440 0 Over 5 years to 10 years 33,653 0 467 0 Over 10 years 40,356 0 25 0 ---------- ---------- ---------- ---------- ---------- ---------- Total 284 0 Total 388,312 - 8,470 2,753 + 344 ---------------------------------------------------------------------------------------------------------------- Components may not add to totals due to rounding. 1 H.4.1 (b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 2, 1996 Millions of dollars ---------------------------------------------------------------------------------------------------------------------------------------------------------- | Total | Boston | New York| Phila. | Cleve.| Rich. |Atlanta| Chicago |S.Louis| Minneap.|KansasC| Dallas|San Fran. ----------------------------------------------------------------------------------------------------------------------- ASSETS Gold certificate account 11,050 661 4,051 423 624 919 769 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 595 17 18 40 30 104 86 61 30 19 64 50 78 Loans 284 1 0 2 0 0 7 54 55 107 44 5 9 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 2,309 136 859 89 136 192 154 250 108 35 72 83 196 Held under repurchase agreements 1 444 0 444 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 186,697 10,985 69,432 7,226 10,973 15,482 12,459 20,233 8,746 2,816 5,848 6,685 15,813 Notes 152,392 8,966 56,674 5,898 8,957 12,637 10,170 16,515 7,139 2,298 4,773 5,457 12,907 Bonds 47,869 2,817 17,802 1,853 2,814 3,969 3,195 5,188 2,242 722 1,499 1,714 4,054 ----------------------------------------------------------------------------------------------------------------------- Total bought outright 2 386,957 22,768 143,908 14,976 22,744 32,088 25,824 41,936 18,127 5,836 12,121 13,856 32,774 Held under repurchase agreements 1 1,355 0 1,355 0 0 0 0 0 0 0 0 0 0 ----------------------------------------------------------------------------------------------------------------------- Total U.S. govt. securities 388,312 22,768 145,263 14,976 22,744 32,088 25,824 41,936 18,127 5,836 12,121 13,856 32,774 ----------------------------------------------------------------------------------------------------------------------- Total loans and securities 391,350 22,904 146,565 15,068 22,879 32,280 25,985 42,240 18,291 5,978 12,237 13,944 32,978 Items in process of collection 7,942 442 1,014 270 375 698 870 758 307 561 473 401 1,772 Bank premises 1,207 94 147 48 97 127 82 110 30 99 55 155 161 Other assets 3 29,873 1,382 9,371 1,301 1,814 2,342 2,564 3,471 905 641 1,048 1,565 3,469 Interdistrict settlement account 0 +1,390 -25,938 -2,494 +5,862 +4,694 +1,336 +400 -2,546 -785 -720 -2,486 +21,286 ----------------------------------------------------------------------------------------------------------------------- TOTAL ASSETS 451,735 27,525 138,614 15,052 32,224 41,999 32,436 49,159 17,910 6,825 13,758 14,462 61,768 ----------------------------------------------------------------------------------------------------------------------- 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 $ 12,154 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 762 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 $ 160 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 OCTOBER 2, 1996 Millions of dollars ---------------------------------------------------------------------------------------------------------------------------------------------------------- | Total | Boston | New York| Phila. | Cleve.| Rich. |Atlanta| Chicago |S.Louis| Minneap.|KansasC| Dallas|San Fran. ----------------------------------------------------------------------------------------------------------------------- LIABILITIES Federal Reserve notes 407,781 24,391 125,755 13,392 30,419 39,023 28,611 44,815 16,383 5,522 12,039 12,312 55,119 Deposits Depository institutions 17,448 2,109 2,762 787 714 1,238 1,823 1,952 836 449 853 1,063 2,862 U.S. Treasury--general account 5,427 0 5,427 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 183 6 78 7 9 11 14 17 4 4 5 9 20 Other 379 0 110 0 1 91 5 162 1 1 3 1 2 ----------------------------------------------------------------------------------------------------------------------- Total deposits 23,437 2,115 8,377 794 725 1,339 1,842 2,131 841 454 861 1,073 2,884 Deferred credit items 7,266 427 811 247 267 662 853 696 249 552 352 410 1,738 Other liabilities and accrued dividends 1 4,431 264 1,506 194 260 362 320 475 211 97 170 180 392 ----------------------------------------------------------------------------------------------------------------------- TOTAL LIABILITIES 442,915 27,198 136,449 14,628 31,671 41,386 31,626 48,118 17,684 6,626 13,423 13,974 60,134 CAPITAL ACCOUNTS Capital paid in 4,535 167 1,089 222 290 312 427 540 113 103 176 253 844 Surplus 3,850 160 1,028 185 252 284 379 460 95 96 148 235 527 Other capital accounts 435 0 47 18 12 17 4 42 18 1 12 0 263 ----------------------------------------------------------------------------------------------------------------------- ACCOUNTS 451,735 27,525 138,614 15,052 32,224 41,999 32,436 49,159 17,910 6,825 13,758 14,462 61,768 ---------------------------------------------------------------------------------------------------------------------------------------------------------- FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 532,739 30,210 179,444 16,417 33,788 47,379 36,408 53,633 20,320 6,983 14,333 21,883 71,941 Less--Held by F.R. Banks 124,958 5,819 53,689 3,025 3,369 8,357 7,796 8,818 3,937 1,461 2,294 9,572 16,822 ----------------------------------------------------------------------------------------------------------------------- F.R. notes, net 407,781 24,391 125,755 13,392 30,419 39,023 28,611 44,815 16,383 5,522 12,039 12,312 55,119 Collateral held against F.R. notes Gold certificate account 11,050 Special drawing rights certificate account 9,718 Other eligible assets 0 U.S. govt. and agency securities 387,013 ------------ Total collateral 407,781 ----------------------------------------------------------------------------------------------------------------------- 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.