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 April 30, 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 Apr 29, 1998 Apr 22, 1998 Apr 30, 1997 Apr 29, 1998 Reserve Bank Credit (1,2) 481,445 + 5,302 + 15,074 506,850 U.S. government securities Bought outright-system account (3) 439,580 - 1,022 + 38,118 442,406 Held under repurchase agreements 7,459 + 5,120 - 21,243 26,047 Federal agency obligations Bought outright 559 - 6 - 1,414 551 Held under repurchase agreements 536 - 150 - 155 1,808 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 15 + 1 - 104 4 Seasonal credit 53 + 10 - 61 56 Extended credit 0 0 0 0 Float 449 + 121 - 379 702 Other F.R. assets 32,794 + 1,228 + 311 35,277 Gold stock 11,049 0 - 3 11,048 Special drawing rights certificate account 9,200 0 0 9,200 Treasury currency outstanding 25,844 + 14 + 612 25,844 Total factors supplying reserve funds 527,537 + 5,316 + 15,683 552,942 Currency in circulation* 475,910 - 1,043 + 30,342 477,038 Treasury cash holdings* 277 0 - 28 275 Deposits,other than reserve balances,with F.R.Banks Treasury 17,944 + 10,049 - 14,993 41,801 Foreign 173 - 12 - 14 199 Service-related balances and adjustments (4) 6,804 - 57 - 284 6,804 Other 366 + 17 + 29 343 Other F.R. liabilities and capital 16,304 - 24 + 1,061 16,135 Total factors, other than reserve balances, absorbing reserve funds 517,777 + 8,929 + 16,114 542,595 Reserve balances with F.R. Banks (5) 9,760 - 3,614 - 431 10,348 On April 29, 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 604,030 million, a change of -$ 2,521 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 18,618 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 16,420 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 15,793 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 15,793 million was with foreign official and international accounts. Includes $ 60 million securities loaned--fully secured U.S. government securities. 3 Includes $ 2,450 million of inflation-indexed securities valued at the original face amount and $ 27 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,483 million and adjustments of $ 320 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 Apr 29, 1998 Apr 22, 1998 Apr 30, 1997 ASSETS Gold certificate account 11,048 0 - 3 Special drawing rights certificate account 9,200 0 0 Coin 457 - 15 - 162 Loans 60 - 83 - 96 Acceptances 0 0 0 Federal agency obligations Bought outright 551 - 14 - 1,420 Held under repurchase agreements (1) 1,808 - 809 + 819 U.S. government securities Bought outright--Bills 199,906 + 581 + 4,872 Notes (2) 180,586 + 1 + 24,507 Bonds (3) 61,913 0 + 10,514 Total bought outright (4) 442,406 + 582 + 39,893 Held under repurchase agreements (1) 26,047 + 15,822 - 24,331 Total U.S. government securities 468,453 + 16,404 + 15,562 Total loans and securities 470,871 + 15,498 + 14,865 Items in process of collection (410) 7,743 + 422 + 1,449 Bank premises 1,284 0 + 46 Other assets (5) 33,987 + 2,679 + 1,962 TOTAL ASSETS (410) 534,591 + 18,583 + 18,157 LIABILITIES Federal Reserve notes 451,926 - 300 + 29,597 Deposits Depository institutions 17,372 - 9,691 - 3,162 U.S. Treasury--general account 41,801 + 28,851 - 10,414 Foreign--official accounts 199 + 37 + 31 Other 343 - 7 - 5 Total deposits 59,716 + 19,191 - 13,551 Deferred availability cash items (410) 6,814 - 287 + 952 Other liabilities and accrued dividends (6) 4,838 + 31 - 713 TOTAL LIABILITIES (410) 523,294 + 18,635 + 16,286 CAPITAL ACCOUNTS Capital paid in 5,475 + 2 + 679 Surplus 5,220 0 + 745 Other capital accounts 602 - 54 + 447 *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 $ 2,050 million of inflation-indexed securities valued at the original face amount and $ 27 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Includes $ 400 million of inflation-indexed securities valued at the original face amount and $ 0 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 15,793 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 60 million securities loaned--fully secured by U.S. government securities. 5 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of $ 177 million in Treasury bills maturing within 90 days. 6 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, April 29, 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 56 0 Within 15 days 41,303 + 18,115 1,808 - 823 16 to 90 days 4 0 16 to 90 days 97,214 + 4,118 0 0 Over 90 days 0 0 91 days to 1 year 139,521 - 5,830 175 0 Over 1 to 5 years 99,016 0 126 0 Over 5 to 10 years 40,622 + 1 225 0 Over 10 years 50,777 0 25 0 Total 60 0 Total 468,453 + 16,404 2,359 - 823 1 Includes $ 2,450 million of inflation-indexed securities valued at the original face amount and $ 27 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 April 29, 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 11,048 582 4,208 323 643 807 717 998 358 128 289 530 1,465 Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241 Coin 457 25 30 42 28 50 44 60 17 22 44 35 62 Loans 60 1 0 0 0 0 5 21 8 12 9 0 4 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 551 30 204 16 36 43 33 53 19 6 15 25 69 Held under repurchase agreements(1) 1,808 0 1,808 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 199,906 10,887 74,093 5,812 12,992 15,747 12,160 19,191 7,025 2,196 5,546 9,089 25,166 Notes (2) 180,586 9,835 66,933 5,250 11,737 14,226 10,985 17,337 6,346 1,984 5,010 8,211 22,734 Bonds (3) 61,913 3,372 22,948 1,800 4,024 4,877 3,766 5,944 2,176 680 1,718 2,815 7,794 Total bought outright(4) 442,406 24,094 163,973 12,862 28,753 34,850 26,912 42,472 15,547 4,860 12,273 20,116 55,693 Held under repurchase agreements(1) 26,047 0 26,047 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 468,453 24,094 190,020 12,862 28,753 34,850 26,912 42,472 15,547 4,860 12,273 20,116 55,693 Total loans and securities 470,871 24,125 192,032 12,879 28,789 34,894 26,950 42,546 15,574 4,878 12,296 20,141 55,766 Items in process of collection 8,153 527 746 261 219 458 835 559 325 742 338 433 2,710 Bank premises 1,284 93 158 50 142 126 82 107 31 132 54 150 159 Other assets(5) 33,987 1,497 12,390 1,256 1,883 3,706 1,890 2,974 834 779 746 1,446 4,585 Interdistrict settlement account 0 -2,306 +14,207 -470 -1,266 -4,100 +329 -1,112 -946 +109 +1,267 +2,762 -8,473 TOTAL ASSETS 535,001 25,073 226,973 14,623 31,011 36,732 31,449 47,032 16,533 6,913 15,282 25,864 57,516 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 $ 2,050 million of inflation-indexed securities valued at the original face amount and $ 27 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Includes $ 400 million of inflation-indexed securities valued at the original face amount and $ 0 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 15,793 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 60 million securities loaned--fully secured by U.S. government securities. 5 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of $ 177 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 April 29, 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 451,926 22,319 177,806 12,920 28,856 32,890 27,439 41,912 15,255 5,405 13,718 23,173 50,233 Deposits Depository institutions 17,372 1,548 2,236 728 765 1,191 2,131 2,899 612 430 690 1,490 2,652 U.S. Treasury--general account 41,801 0 41,801 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 199 7 84 8 9 22 9 14 3 5 3 7 26 Other 343 1 98 1 2 56 2 178 0 1 2 1 1 Total deposits 59,716 1,556 44,220 737 776 1,270 2,142 3,091 615 436 695 1,499 2,678 Deferred credit items 7,224 453 781 246 313 445 810 505 240 599 433 370 2,029 Other liabilities and accrued dividends (1) 4,838 252 1,739 168 300 382 315 450 184 92 164 223 570 TOTAL LIABILITIES 523,704 24,580 224,545 14,071 30,245 34,986 30,705 45,958 16,294 6,532 15,011 25,265 55,511 CAPITAL ACCOUNTS Capital paid in 5,475 211 1,145 266 375 857 368 528 116 191 134 295 989 Surplus 5,220 254 1,055 273 335 818 338 502 122 189 119 271 945 Other capital accounts 602 29 227 13 56 71 36 44 1 2 18 33 72 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 535,001 25,073 226,973 14,623 31,011 36,732 31,449 47,032 16,533 6,913 15,282 25,864 57,516 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 560,370 26,813 220,903 15,713 31,918 39,829 36,090 50,853 17,554 6,935 15,877 28,620 69,265 Less--Held by F.R. Banks 108,444 4,495 43,097 2,793 3,062 6,939 8,651 8,941 2,299 1,530 2,159 5,447 19,032 F.R. notes, net 451,926 22,319 177,806 12,920 28,856 32,890 27,439 41,912 15,255 5,405 13,718 23,173 50,233 Collateral held against F.R. notes Gold certificate account 11,048 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 431,677 Total collateral 451,926 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.