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 August 21, 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 Aug 20, 1997 Aug 13, 1997 Aug 21, 1996 Aug 20, 1997 Reserve Bank Credit (1,2) 449,091 - 511 + 24,529 451,336 U.S. government securities Bought outright-system account (3) 408,976 - 1,206 + 21,050 408,893 Held under repurchase agreements 5,774 + 980 + 3,585 4,750 Federal agency obligations Bought outright 1,030 - 9 - 1,306 1,030 Held under repurchase agreements 1,981 + 1,172 + 1,466 1,681 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 704 + 695 + 698 4,863 Seasonal credit 385 + 20 + 66 399 Extended credit 0 0 0 0 Float 505 - 129 + 11 319 Other F.R. assets 29,736 - 2,034 - 1,041 29,401 Gold stock 11,051 0 + 1 11,051 Special drawing rights certificate account 9,200 0 - 518 9,200 Treasury currency outstanding 25,455 + 14 + 781 25,455 Total factors supplying reserve funds 494,797 - 497 + 24,793 497,042 Currency in circulation* 456,685 - 29 + 27,121 457,192 Treasury cash holdings* 301 - 3 + 33 284 Deposits,other than reserve balances,with F.R.Banks Treasury 4,444 - 521 - 686 4,863 Foreign 226 + 56 + 45 512 Service-related balances and adjustments (4) 7,021 - 71 + 656 7,022 Other 372 + 20 + 48 363 Other F.R. liabilities and capital 15,455 + 392 + 1,614 15,365 Total factors, other than reserve balances, absorbing reserve funds 484,505 - 156 + 28,831 485,600 Reserve balances with F.R. Banks (5) 10,292 - 341 - 4,038 11,443 On August 20, 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 $ 645,170 million, a change of + $ 9,055 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 15,414 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 15,414 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 15,498 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 15,498 million was with foreign official and international accounts. Includes $ 30 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 $ 9 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,822 million and adjustments of $ 199 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 Aug 20, 1997 Aug 13, 1997 Aug 21, 1996 ASSETS Gold certificate account 11,051 0 + 1 Special drawing rights certificate account 9,200 0 - 518 Coin 500 + 7 - 55 Loans 5,262 + 4,887 + 4,922 Acceptances 0 0 0 Federal agency obligations Bought outright 1,030 0 - 1,306 Held under repurchase agreements (1) 1,681 - 324 + 1,016 U.S. government securities Bought outright--Bills 194,107 - 2,472 + 7,098 Notes (2) 159,795 - 730 + 7,403 Bonds 54,991 + 730 + 7,123 Total bought outright (3) 408,893 - 2,472 + 21,624 Held under repurchase agreements (1) 4,750 - 6,193 + 1,440 Total U.S. government securities 413,643 - 8,665 + 23,064 Total loans and securities 421,616 - 4,102 + 27,696 Items in process of collection (357) 6,374 + 323 + 543 Bank premises 1,266 + 4 + 67 Other assets (4) 28,197 - 2,871 - 1,658 TOTAL ASSETS (357) 478,204 - 6,638 + 26,076 LIABILITIES Federal Reserve notes 432,521 - 457 + 26,507 Deposits Depository institutions 18,800 - 6,705 - 1,995 U.S. Treasury--general account 4,863 + 184 - 1,016 Foreign--official accounts 512 + 321 + 329 Other 363 + 4 + 40 Total deposits 24,538 - 6,196 - 2,641 Deferred availability cash items (357) 5,781 - 51 + 425 Other liabilities and accrued dividends (5) 4,639 - 147 + 413 TOTAL LIABILITIES (357) 467,478 - 6,851 + 24,705 CAPITAL ACCOUNTS Capital paid in 5,140 + 2 + 648 Surplus 4,496 0 + 529 Other capital accounts 1,090 + 211 + 194 *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 $ 9 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 15,498 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 30 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 $ 132 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, AUGUST 20, 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 5198 0 Within 15 days 19,642 - 8,769 1751 - 254 16 days to 90 64 0 16 days to 90 days 91,107 + 6,968 141 - 70 Over 90 days 0 0 91 days to 1 year 129,881 - 3,676 154 0 Over 1 year to 5 years 90,614 - 2,560 351 0 Over 5 years to 10 years 37,657 - 1,359 290 0 Over 10 years 44,741 + 730 25 0 Total 5262 0 Total 413,643 - 8,665 2711 - 324 1 Includes $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 9 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 AUGUST 20, 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 500 14 16 55 25 73 65 61 23 18 38 48 62 Loans 5,262 200 4,458 0 0 0 12 266 92 164 51 7 13 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 1,030 63 333 34 71 98 69 110 41 14 29 37 130 Held under repurchase agreements(1) 1,681 0 1,681 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 194,107 11,833 62,784 6,489 13,427 18,469 12,953 20,704 7,731 2,703 5,543 7,049 24,422 Notes (2) 159,795 9,742 51,686 5,342 11,053 15,204 10,663 17,044 6,364 2,225 4,563 5,803 20,105 Bonds 54,991 3,352 17,787 1,838 3,804 5,232 3,670 5,866 2,190 766 1,570 1,997 6,919 Total bought outright(3) 408,893 24,927 132,257 13,670 28,284 38,905 27,286 43,614 16,286 5,695 11,676 14,849 51,445 Held under repurchase agreements(1) 4,750 0 4,750 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 413,643 24,927 137,007 13,670 28,284 38,905 27,286 43,614 16,286 5,695 11,676 14,849 51,445 Total loans and securities 421,616 25,190 143,479 13,704 28,355 39,003 27,367 43,990 16,418 5,873 11,756 14,894 51,588 Items in process of collection 6,731 403 761 297 271 427 701 615 376 494 436 384 1,566 Bank premises 1,266 94 154 50 120 126 77 109 30 142 55 151 159 Other assets(4) 28,197 1,190 8,368 1,340 1,775 2,173 2,226 3,086 786 548 926 1,309 4,470 Interdistrict settlement account 0 -2978 19101 -2406 -1062 -6112 -759 -3719 -2471 -1760 -2147 3140 1174 TOTAL ASSETS 478,561 25,067 179,019 13,671 30,728 37,447 31,002 46,111 15,904 5,585 11,597 20,752 61,678 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 $ 9 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 15,498 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 30 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 $ 132 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 AUGUST 20, 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 432,521 23,479 162,780 11,911 28,487 33,780 27,456 42,104 14,659 4,274 10,094 18,552 54,944 Deposits Depository institutions 18,800 530 6,426 747 961 1,121 1,798 1,772 577 354 663 1,181 2,669 U.S. Treasury--general account 4,863 0 4,863 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 512 5 401 9 9 10 13 17 4 3 5 8 28 Other 363 6 101 1 3 106 6 133 0 2 1 2 2 Total deposits 24,538 541 11,791 757 974 1,237 1,817 1,922 581 359 670 1,191 2,698 Deferred credit items 6,138 372 692 243 222 519 652 535 232 491 363 292 1,526 Other liabilities and accrued dividends (1) 4,639 282 1,415 181 308 429 328 492 196 103 166 185 553 TOTAL LIABILITIES 467,836 24,674 176,678 13,092 29,991 35,965 30,253 45,053 15,667 5,228 11,292 20,220 59,721 CAPITAL ACCOUNTS Capital paid in 5,140 186 1,100 288 355 746 314 496 111 196 126 261 961 Surplus 4,496 168 1,023 268 286 310 415 524 112 104 171 250 865 Other capital accounts 1,090 40 217 23 95 426 20 37 15 57 9 20 130 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 478,561 25,067 179,019 13,671 30,728 37,447 31,002 46,111 15,904 5,585 11,597 20,752 61,678 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 544,126 29,665 204,816 15,515 32,576 40,410 36,284 50,521 17,237 5,984 12,186 25,123 73,809 Less--Held by F.R. Banks 111,606 6,187 42,036 3,603 4,089 6,630 8,828 8,416 2,579 1,710 2,092 6,570 18,865 F.R. notes, net 432,521 23,479 162,780 11,911 28,487 33,780 27,456 42,104 14,659 4,274 10,094 18,552 54,944 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 412,270 Total collateral 432,521 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.