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 May 29, 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 May 28, 1997 May 21, 1997 May 29, 1996 May 28, 1997 Reserve Bank Credit (1,2) 442,688 + 391 + 26,322 444,124 U.S. government securities Bought outright-system account (3) 406,056 + 149 + 25,618 406,293 Held under repurchase agreements 4,889 + 46 + 2,713 5,213 Federal agency obligations Bought outright 1,970 0 - 469 1,970 Held under repurchase agreements 631 + 232 - 54 827 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 18 - 7 - 7 12 Seasonal credit 209 + 26 + 76 213 Extended credit 0 0 0 0 Float 63 - 336 - 93 525 Other F.R. assets 28,851 + 280 - 1,462 29,069 Gold stock 11,051 0 0 11,051 Special drawing rights certificate account 9,200 0 - 968 9,200 Treasury currency outstanding 25,285 + 14 + 846 25,285 Total factors supplying reserve funds 488,224 + 405 + 26,200 489,659 Currency in circulation* 450,862 + 2,539 + 28,682 452,379 Treasury cash holdings* 327 + 4 + 63 330 Deposits,other than reserve balances,with F.R.Banks Treasury 5,053 - 123 - 122 4,824 Foreign 186 + 20 - 9 223 Service-related balances and adjustments (4) 7,166 + 52 + 452 7,166 Other 368 + 8 + 20 370 Other F.R. liabilities and capital 15,008 - 38 + 2,037 14,800 Total factors, other than reserve balances, absorbing reserve funds 478,971 + 2,463 + 31,123 480,091 Reserve balances with F.R. Banks (5) 9,253 - 2,058 - 4,923 9,568 On May 28, 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 $ 643,430 million, a change of + $ 1,764 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 13,638 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 13,638 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 13,402 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 13,402 million was with foreign official and international accounts. Includes $ 75 million securities loaned--fully secured U.S. government securities. 3 Includes $ 750 million of inflation-indexed securities valued at the original face amount and $ 7 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,980 million and adjustments of $ 186 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 May 28, 1997 May 21, 1997 May 29, 1996 ASSETS Gold certificate account 11,051 0 0 Special drawing rights certificate account 9,200 0 - 968 Coin 526 - 40 - 11 Loans 226 + 13 + 65 Acceptances 0 0 0 Federal agency obligations Bought outright 1,970 0 - 458 Held under repurchase agreements (1) 827 - 726 - 23 U.S. government securities Bought outright--Bills 195,607 + 206 + 10,363 Notes (2) 157,770 0 + 7,668 Bonds 52,916 0 + 6,473 Total bought outright (3) 406,293 + 207 + 24,504 Held under repurchase agreements (1) 5,213 - 2,855 + 1,848 Total U.S. government securities 411,506 - 2,648 + 26,352 Total loans and securities 414,530 - 3,361 + 25,937 Items in process of collection (362) 8,780 + 2,589 + 580 Bank premises 1,244 + 1 + 73 Other assets (4) 27,926 + 215 - 1,505 TOTAL ASSETS (362) 473,257 - 597 + 24,106 LIABILITIES Federal Reserve notes 427,950 + 2,678 + 27,782 Deposits Depository institutions 17,144 - 4,959 - 5,516 U.S. Treasury--general account 4,824 - 483 - 557 Foreign--official accounts 223 + 61 + 43 Other (2) 370 0 + 13 Total deposits (2) 22,561 - 5,382 - 6,018 Deferred availability cash items (360) 7,945 + 2,135 + 324 Other liabilities and accrued dividends (5) 4,799 - 45 + 646 TOTAL LIABILITIES (362) 463,256 - 614 + 22,733 CAPITAL ACCOUNTS Capital paid in 4,826 + 10 + 726 Surplus 4,496 0 + 529 Other capital accounts 679 + 7 + 117 *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 $ 750 million of inflation-indexed securities valued at the original face amount and $ 7 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 13,402 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 75 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, MAY 28, 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 201 0 Within 15 days 20,304 - 2,363 1301 - 559 16 days to 90 25 0 16 days to 90 days 93,491 + 5,665 434 - 167 Over 90 days 0 0 91 days to 1 year 121,699 - 5,950 315 0 Over 1 year to 5 years 94,392 0 416 0 Over 5 years to 10 years 38,516 0 307 0 Over 10 years 43,105 0 25 0 Total 226 0 Total 411,506 - 2,649 2797 - 726 1 Includes $ 750 million of inflation-indexed securities valued at the original face amount and $ 7 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 MAY 28, 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 526 14 22 64 26 80 52 67 25 25 46 39 66 Loans 226 8 0 3 0 0 8 43 44 80 26 4 11 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 1,970 120 637 66 136 187 131 210 78 27 56 72 248 Held under repurchase agreements(1) 827 0 827 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 195,607 11,925 63,269 6,539 13,530 18,611 13,053 20,864 7,791 2,724 5,585 7,104 24,611 Notes (2) 157,770 9,618 51,031 5,274 10,913 15,011 10,528 16,829 6,284 2,197 4,505 5,730 19,850 Bonds 52,916 3,226 17,116 1,769 3,660 5,035 3,531 5,644 2,108 737 1,511 1,922 6,658 Total bought outright(3) 406,293 24,769 131,416 13,583 28,104 38,657 27,112 43,337 16,182 5,658 11,601 14,755 51,118 Held under repurchase agreements(1) 5,213 0 5,213 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 411,506 24,769 136,629 13,583 28,104 38,657 27,112 43,337 16,182 5,658 11,601 14,755 51,118 Total loans and securities 414,530 24,896 138,093 13,652 28,240 38,845 27,251 43,590 16,305 5,765 11,684 14,830 51,377 Items in process of collection 9,142 590 1,149 392 450 724 910 816 404 690 492 452 2,073 Bank premises 1,244 95 153 50 112 127 73 109 30 128 56 152 159 Other assets(4) 27,926 1,200 8,014 1,353 1,734 2,200 2,255 3,106 790 551 934 1,320 4,468 Interdistrict settlement account 0 -1971 14373 -1308 -2686 -4756 -5278 -2975 -2170 -1103 -1076 4442 4507 TOTAL ASSETS 473,619 25,979 168,946 14,834 29,119 38,977 26,589 46,681 16,124 6,327 12,669 22,061 65,312 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 $ 750 million of inflation-indexed securities valued at the original face amount and $ 7 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 13,402 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 75 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 MAY 28, 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 427,950 23,683 155,629 12,915 27,215 35,557 23,013 41,806 14,868 4,957 11,063 19,599 57,644 Deposits Depository institutions 17,144 1,024 3,395 818 658 1,445 1,430 2,307 516 363 581 1,373 3,236 U.S. Treasury--general account 4,824 0 4,824 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 223 5 112 9 9 10 13 17 4 3 5 8 28 Other 372 0 118 1 3 107 2 135 1 1 1 1 3 Total deposits 22,563 1,030 8,449 827 670 1,561 1,445 2,459 520 367 588 1,382 3,266 Deferred credit items 8,306 567 1,062 322 312 701 823 775 294 667 481 358 1,943 Other liabilities and accrued dividends (1) 4,799 284 1,526 185 317 428 338 496 198 99 169 190 570 TOTAL LIABILITIES 463,618 25,564 166,666 14,249 28,514 38,247 25,619 45,535 15,881 6,089 12,301 21,529 63,423 CAPITAL ACCOUNTS Capital paid in 4,826 194 1,075 288 289 344 477 555 115 117 180 262 928 Surplus 4,496 168 1,023 268 286 310 415 524 112 104 171 250 865 Other capital accounts 679 52 181 29 30 76 78 66 17 16 17 20 95 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 473,619 25,979 168,946 14,834 29,119 38,977 26,589 46,681 16,124 6,327 12,669 22,061 65,312 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 535,437 29,770 201,059 16,132 30,198 41,749 31,260 49,809 17,544 6,362 12,966 24,911 73,676 Less--Held by F.R. Banks 107,486 6,087 45,430 3,217 2,982 6,192 8,247 8,003 2,676 1,406 1,903 5,311 16,031 F.R. notes, net 427,950 23,683 155,629 12,915 27,215 35,557 23,013 41,806 14,868 4,957 11,063 19,599 57,644 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 407,699 Total collateral 427,950 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.