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 2, 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 1, 1998 Mar 25, 1998 Apr 2, 1997 Apr 1, 1998 Reserve Bank Credit (1,2) 468,282 + 1,745 + 29,670 470,024 U.S. government securities Bought outright-system account (3) 433,099 + 212 + 36,279 433,361 Held under repurchase agreements 2,185 + 1,072 - 3,981 3,297 Federal agency obligations Bought outright 625 0 - 1,370 625 Held under repurchase agreements 425 + 251 - 1,722 1,028 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 2 - 17 - 564 0 Seasonal credit 29 + 3 - 28 27 Extended credit 0 0 0 0 Float 330 - 161 - 95 734 Other F.R. assets 31,587 + 386 + 1,152 30,951 Gold stock 11,049 0 - 1 11,049 Special drawing rights certificate account 9,200 0 0 9,200 Treasury currency outstanding 25,788 + 14 + 615 25,788 Total factors supplying reserve funds 514,319 + 1,759 + 30,284 516,061 Currency in circulation* 473,863 + 109 + 29,385 475,338 Treasury cash holdings* 264 + 4 - 44 259 Deposits,other than reserve balances,with F.R.Banks Treasury 5,033 - 148 - 503 3,534 Foreign 179 + 15 - 125 186 Service-related balances and adjustments (4) 6,846 - 170 - 98 6,847 Other 363 + 5 - 19 353 Other F.R. liabilities and capital 15,894 - 195 + 1,263 15,394 Total factors, other than reserve balances, absorbing reserve funds 502,442 - 379 + 29,859 501,911 Reserve balances with F.R. Banks (5) 11,877 + 2,137 + 425 14,150 On April 1, 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 613,724 million, a change of +$ 2,567 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 16,974 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 16,974 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 16,712 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 16,712 million was with foreign official and international accounts. Includes $ 60 million securities loaned--fully secured U.S. government securities. 3 Includes $ 2050 million of inflation-indexed securities valued at the original face amount and $ 23 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,613 million and adjustments of $ 234 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 1, 1998 Mar 25, 1998 Apr 2, 1997 ASSETS Gold certificate account 11,049 0 - 1 Special drawing rights certificate account 9,200 0 0 Coin 520 - 17 - 140 Loans 28 - 10 - 35 Acceptances 0 0 0 Federal agency obligations Bought outright 625 0 - 1,370 Held under repurchase agreements (1) 1,028 - 17 - 703 U.S. government securities Bought outright--Bills 195,437 - 758 + 4,307 Notes (2) 176,436 + 1 + 21,909 Bonds 61,488 0 + 10,089 Total bought outright (3) 433,361 - 758 + 36,305 Held under repurchase agreements (1) 3,297 - 2,438 - 4,914 Total U.S. government securities 436,658 - 3,196 + 31,391 Total loans and securities 438,339 - 3,222 + 29,284 Items in process of collection (356) 8,015 + 1,525 + 139 Bank premises 1,280 0 + 38 Other assets (4) 29,638 - 785 + 509 TOTAL ASSETS (356) 498,041 - 2,500 + 29,829 LIABILITIES Federal Reserve notes 450,329 + 783 + 28,505 Deposits Depository institutions 20,727 - 2,863 + 966 U.S. Treasury--general account 3,534 - 1,285 - 1,558 Foreign--official accounts 186 + 27 - 44 Other 353 - 11 - 23 Total deposits 24,800 - 4,133 - 660 Deferred availability cash items (356) 7,517 + 1,370 + 958 Other liabilities and accrued dividends (5) 4,601 - 91 + 48 TOTAL LIABILITIES (356) 487,248 - 2,072 + 28,852 CAPITAL ACCOUNTS Capital paid in 5,471 + 18 + 709 Surplus 5,202 - 19 + 706 Other capital accounts 120 - 427 - 438 *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 $ 2050 million of inflation-indexed securities valued at the original face amount and $ 23 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 16,712 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. 4 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of $ 200 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, April 1, 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 1 0 Within 15 days 16,996 - 1,849 1,088 + 43 16 to 90 days 26 0 16 to 90 days 96,876 + 3,798 14 - 60 Over 90 days 0 0 91 days to 1 year 135,190 - 4,993 175 0 Over 1 to 5 years 97,095 - 151 126 0 Over 5 to 10 years 40,126 0 225 0 Over 10 years 50,376 0 25 0 Total 28 0 Total 436,658 - 3,196 1,653 - 17 1 Includes $ 2050 million of inflation-indexed securities valued at the original face amount and $ 23 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 1, 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 11,049 624 3,936 350 669 965 723 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 520 31 29 60 31 65 41 67 14 24 44 38 76 Loans 28 1 0 0 0 0 5 12 0 7 3 0 0 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 625 38 202 21 43 59 42 67 25 9 18 23 79 Held under repurchase agreements(1) 1,028 0 1,028 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 195,437 11,914 63,214 6,534 13,519 18,595 13,042 20,846 7,784 2,722 5,581 7,098 24,589 Notes (2) 176,436 10,756 57,069 5,898 12,204 16,787 11,774 18,820 7,027 2,457 5,038 6,408 22,199 Bonds 61,488 3,748 19,888 2,056 4,253 5,850 4,103 6,559 2,449 856 1,756 2,233 7,736 Total bought outright(3) 433,361 26,419 140,171 14,488 29,976 41,233 28,919 46,224 17,260 6,035 12,374 15,738 54,524 Held under repurchase agreements(1) 3,297 0 3,297 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 436,658 26,419 143,468 14,488 29,976 41,233 28,919 46,224 17,260 6,035 12,374 15,738 54,524 Total loans and securities 438,339 26,458 144,698 14,509 30,019 41,292 28,965 46,303 17,286 6,051 12,395 15,761 54,603 Items in process of collection 8,372 554 969 270 444 585 878 717 360 584 546 473 1,991 Bank premises 1,280 94 156 50 139 126 80 107 31 132 54 150 159 Other assets(4) 29,638 1,501 8,270 1,268 1,852 3,779 1,873 2,996 841 797 725 1,304 4,432 Interdistrict settlement account 0 -5,004 +28,330 -2,035 -2,151 -10,268 -1,749 -5,771 -2,340 -907 +808 +7,020 -5,931 TOTAL ASSETS 498,397 24,787 189,592 14,753 31,578 37,337 31,414 46,388 16,932 6,950 15,105 25,571 57,991 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 $ 2050 million of inflation-indexed securities valued at the original face amount and $ 23 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Net of $ 16,712 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. 4 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of $ 200 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 1, 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 450,329 22,330 175,977 12,573 28,971 33,081 28,017 41,910 15,476 5,348 13,559 23,137 49,951 Deposits Depository institutions 20,727 1,195 5,473 1,116 1,214 1,407 1,516 2,078 714 532 653 1,290 3,538 U.S. Treasury--general account 3,534 0 3,534 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 186 7 71 8 9 22 9 14 3 5 3 7 26 Other 353 3 37 1 1 99 1 203 1 0 6 1 1 Total deposits 24,800 1,205 9,115 1,125 1,224 1,528 1,526 2,295 718 538 662 1,299 3,565 Deferred credit items 7,874 506 841 262 361 637 840 668 305 600 459 392 2,002 Other liabilities and accrued dividends (1) 4,601 277 1,421 183 306 428 325 481 193 97 163 186 541 TOTAL LIABILITIES 487,604 24,319 187,355 14,143 30,862 35,674 30,709 45,354 16,692 6,583 14,843 25,013 56,058 CAPITAL ACCOUNTS Capital paid in 5,471 211 1,119 319 375 840 363 526 116 190 134 290 987 Surplus 5,202 254 1,055 273 335 818 338 502 122 176 119 265 945 Other capital accounts 120 3 63 19 5 5 3 6 3 1 9 3 1 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 498,397 24,787 189,592 14,753 31,578 37,337 31,414 46,388 16,932 6,950 15,105 25,571 57,991 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 553,602 26,957 213,747 15,790 32,094 39,546 36,506 50,628 17,667 6,688 15,745 28,477 69,755 Less--Held by F.R. Banks 103,272 4,627 37,770 3,218 3,124 6,465 8,489 8,718 2,191 1,341 2,186 5,340 19,804 F.R. notes, net 450,329 22,330 175,977 12,573 28,971 33,081 28,017 41,910 15,476 5,348 13,559 23,137 49,951 Collateral held against F.R. notes Gold certificate account 11,049 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 430,080 Total collateral 450,329 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.