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 27, 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 26, 1997 Mar 19, 1997 Mar 27, 1996 Mar 26, 1997 Reserve Bank Credit (1,2) 438,441 + 154 + 23,801 444,143 U.S. government securities Bought outright-system account (3) 397,707 + 625 + 20,775 397,580 Held under repurchase agreements 6,782 - 461 + 3,706 10,948 Federal agency obligations Bought outright 2,006 - 5 - 527 1,994 Held under repurchase agreements 1,233 + 268 + 674 2,471 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 13 - 285 + 3 9 Seasonal credit 41 + 6 + 28 52 Extended credit 0 0 0 0 Float 474 - 56 + 270 664 Other F.R. assets 30,184 + 62 - 1,128 30,424 Gold stock 11,051 0 - 2 11,050 Special drawing rights certificate account 9,200 0 - 968 9,200 Treasury currency outstanding 25,149 + 14 + 892 25,149 Total factors supplying reserve funds 483,841 + 168 + 23,723 489,543 Currency in circulation* 443,349 - 224 + 27,412 444,325 Treasury cash holdings* 308 + 6 + 4 313 Deposits,other than reserve balances,with F.R.Banks Treasury 5,376 - 2,102 + 328 4,420 Foreign 167 + 1 - 27 162 Service-related balances and adjustments (4) 7,073 + 40 + 1,035 7,073 Other 373 - 47 + 1 362 Other F.R. liabilities and capital 14,663 + 30 + 1,791 14,515 Total factors, other than reserve balances, absorbing reserve funds 471,310 - 2,296 + 30,546 471,170 Reserve balances with F.R. Banks (5) 12,532 + 2,464 - 6,823 18,372 On March 26, 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 $ 647,296 million, a change of - $ 2,371 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 13,222 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 13,222 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 13,348 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 13,348 million was with foreign official and international accounts. Includes $ 40 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 $ 6,760 million and adjustments of $ 313 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 26, 1997 Mar 19, 1997 Mar 27, 1996 ASSETS Gold certificate account 11,050 0 - 2 Special drawing rights certificate account 9,200 0 - 968 Coin 676 - 13 + 117 Loans 61 - 1,133 + 23 Acceptances 0 0 0 Federal agency obligations Bought outright 1,994 - 17 - 532 Held under repurchase agreements (1) 2,471 + 1,266 + 383 U.S. government securities Bought outright--Bills 191,654 + 374 + 8,721 Notes (2) 154,527 0 + 5,641 Bonds 51,399 0 + 6,431 Total bought outright (3) 397,580 + 374 + 20,793 Held under repurchase agreements (1) 10,948 + 1,059 + 2,712 Total U.S. government securities 408,528 + 1,433 + 23,505 Total loans and securities 413,054 + 1,550 + 23,379 Items in process of collection (400) 6,020 - 359 + 872 Bank premises 1,249 0 + 100 Other assets (4) 29,267 + 119 - 1,142 TOTAL ASSETS (400) 470,517 + 1,296 + 22,354 LIABILITIES Federal Reserve notes 420,165 + 125 + 26,019 Deposits Depository institutions 25,392 + 6,147 - 5,582 U.S. Treasury--general account 4,420 - 4,615 - 173 Foreign--official accounts 162 - 1 - 10 Other 362 - 50 - 13 Total deposits 30,337 + 1,481 - 5,778 Deferred availability cash items (400) 5,500 - 326 + 293 Other liabilities and accrued dividends (5) 4,672 - 24 + 466 TOTAL LIABILITIES (400) 460,674 + 1,255 + 21,000 CAPITAL ACCOUNTS Capital paid in 4,754 - 3 + 718 Surplus 4,496 - 19 + 529 Other capital accounts 593 + 63 + 108 *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 $ 13,348 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 40 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 $ 156 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 26, 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 52 0 Within 15 days 24,608 + 2,113 2753 + 1259 16 days to 90 8 0 16 days to 90 days 90,153 - 450 500 - 10 Over 90 days 0 0 91 days to 1 year 121,051 - 231 281 0 Over 1 year to 5 years 93,991 0 460 0 Over 5 years to 10 years 36,608 + 1 447 0 Over 10 years 42,117 0 25 0 Total 61 0 Total 408,528 + 1,433 4465 + 1249 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 26, 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 11,050 661 4,051 423 624 919 769 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 676 21 32 64 33 113 79 82 29 26 54 53 89 Loans 61 9 0 8 0 0 1 8 14 10 11 0 0 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 1,994 117 742 77 117 165 133 216 93 30 62 71 169 Held under repurchase agreements(1) 2,471 0 2,471 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 191,654 11,277 71,275 7,418 11,265 15,893 12,790 20,770 8,978 2,891 6,003 6,863 16,232 Notes (2) 154,527 9,092 57,468 5,981 9,082 12,814 10,312 16,746 7,239 2,331 4,840 5,533 13,088 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) 397,580 23,393 147,858 15,388 23,368 32,969 26,533 43,087 18,625 5,996 12,453 14,237 33,674 Held under repurchase agreements(1) 10,948 0 10,948 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 408,528 23,393 158,806 15,388 23,368 32,969 26,533 43,087 18,625 5,996 12,453 14,237 33,674 Total loans and securities 413,054 23,519 162,019 15,473 23,485 33,134 26,666 43,311 18,732 6,036 12,527 14,308 33,843 Items in process of collection 6,420 442 867 270 230 485 733 477 273 420 461 349 1,411 Bank premises 1,249 95 153 50 113 127 81 109 31 122 56 154 160 Other assets(4) 29,267 1,244 8,871 1,458 1,716 2,208 2,336 3,287 894 580 1,003 1,372 4,298 Interdistrict settlement account 0 -206 -19099 -3309 3618 3414 -3122 -2685 -3597 -622 -1365 5217 21756 TOTAL ASSETS 470,917 26,306 160,097 14,712 30,394 41,192 28,145 46,622 17,176 6,854 13,302 22,253 63,864 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 $ 13,348 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 40 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 $ 156 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 26, 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 420,165 23,801 144,048 12,849 27,991 37,212 23,777 41,833 15,650 5,087 11,467 19,575 56,874 Deposits Depository institutions 25,392 1,486 6,746 837 1,318 2,305 2,308 2,548 867 1,009 914 1,696 3,360 U.S. Treasury--general account 4,420 0 4,420 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 162 5 51 9 9 10 13 17 4 3 5 8 28 Other 362 1 111 1 3 77 5 159 1 1 3 1 2 Total deposits 30,337 1,492 11,328 846 1,329 2,391 2,326 2,723 871 1,013 922 1,705 3,389 Deferred credit items 5,900 365 724 241 226 512 767 457 191 427 372 262 1,355 Other liabilities and accrued dividends (1) 4,672 266 1,691 197 263 370 325 481 216 102 174 181 406 TOTAL LIABILITIES 461,074 25,924 157,791 14,133 29,809 40,486 27,195 45,495 16,929 6,629 12,935 21,724 62,024 CAPITAL ACCOUNTS Capital paid in 4,754 179 1,076 281 283 338 464 547 115 111 179 260 921 Surplus 4,496 168 1,023 268 286 310 415 524 112 104 171 250 865 Other capital accounts 593 35 206 30 16 58 71 56 21 10 18 19 55 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 470,917 26,306 160,097 14,712 30,394 41,192 28,145 46,622 17,176 6,854 13,302 22,253 63,864 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 526,015 29,875 187,044 15,941 31,415 43,285 32,128 49,698 18,434 6,684 13,470 24,993 73,047 Less--Held by F.R. Banks 105,850 6,074 42,996 3,092 3,423 6,073 8,351 7,865 2,784 1,598 2,003 5,418 16,173 F.R. notes, net 420,165 23,801 144,048 12,849 27,991 37,212 23,777 41,833 15,650 5,087 11,467 19,575 56,874 Collateral held against F.R. notes Gold certificate account 11,050 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 399,915 Total collateral 420,165 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.