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 November 5, 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 Nov 4, 1998 Oct 28, 1998 Nov 5, 1997 Nov 4, 1998 Reserve Bank Credit (1,2) 493,934 + 5,667 + 36,156 491,160 U.S. government securities Bought outright-system account (3) 450,128 + 2,918 + 38,423 450,388 Held under repurchase agreements 3,333 + 1,309 - 6,889 2,050 Federal agency obligations Bought outright 385 - 2 - 314 373 Held under repurchase agreements 3,878 + 421 + 2,522 3,234 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 35 + 22 - 96 1 Seasonal credit 67 - 24 - 76 59 Extended credit 0 0 0 0 Float -25 - 384 - 491 -599 Other F.R. assets 36,133 + 1,408 + 3,077 35,653 Gold stock 11,041 + 2 - 9 11,041 Special drawing rights certificate account 9,200 0 0 9,200 Treasury currency outstanding 26,042 + 14 + 450 26,042 Total factors supplying reserve funds 540,217 + 5,683 + 36,598 537,443 Currency in circulation* 498,229 + 1,635 + 35,634 499,975 Treasury cash holdings* 87 - 3 - 152 87 Deposits,other than reserve balances,with F.R.Banks Treasury 5,030 - 297 - 195 5,914 Foreign 164 - 42 - 27 191 Service-related balances and adjustments (4) 6,864 - 2 - 98 6,864 Other 406 - 18 + 64 438 Other F.R. liabilities and capital 18,049 + 862 + 1,775 17,861 Total factors, other than reserve balances, absorbing reserve funds 528,829 + 2,134 + 37,002 531,330 Reserve balances with F.R. Banks (5) 11,388 + 3,548 - 404 6,113 On November 4, 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 575,765 million, a change of -$ 569 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 18,213 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 18,213 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 18,041 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 18,041 million was with foreign official and international accounts. Includes $ 220 million securities loaned--fully secured U.S. government securities. 3 Includes $ 3,250 million of inflation-indexed securities valued at the original face amount and $ 59 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,686 million and adjustments of $ 178 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 Nov 4, 1998 Oct 28, 1998 Nov 5, 1997 ASSETS Gold certificate account 11,041 + 1 - 9 Special drawing rights certificate account 9,200 0 0 Coin 409 - 49 - 104 Loans 60 - 24 - 905 Acceptances 0 0 0 Federal agency obligations Bought outright 373 - 15 - 312 Held under repurchase agreements (1) 3,234 - 206 + 1,855 U.S. government securities Bought outright--Bills 197,659 + 1,080 + 3,748 Notes (2) 185,034 + 701 + 21,957 Bonds (3) 67,696 + 641 + 11,637 Total bought outright (4) 450,388 + 2,423 + 37,342 Held under repurchase agreements (1) 2,050 - 229 - 10,765 Total U.S. government securities 452,438 + 2,194 + 26,577 Total loans and securities 456,105 + 1,949 + 27,215 Items in process of collection (505) 7,930 + 1,532 - 799 Bank premises 1,294 - 1 + 21 Other assets (5) 34,966 + 1,365 + 2,834 TOTAL ASSETS (505) 520,945 + 4,797 + 29,158 LIABILITIES Federal Reserve notes 474,430 + 1,897 + 34,692 Deposits Depository institutions 14,320 + 935 - 8,888 U.S. Treasury--general account 5,914 - 469 + 734 Foreign--official accounts 191 - 22 + 5 Other (1) 438 - 29 + 87 Total deposits (1) 20,863 + 415 - 8,063 Deferred availability cash items (505) 7,791 + 1,551 + 752 Other liabilities and accrued dividends (6) 4,393 - 83 - 433 TOTAL LIABILITIES (505) 507,477 + 3,780 + 26,948 CAPITAL ACCOUNTS Capital paid in 5,923 + 4 + 643 Surplus 5,220 0 + 832 Other capital accounts 2,325 + 1,014 + 735 *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 $ 2,450 million of inflation-indexed securities valued at the original face amount and $ 51 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Includes $ 800 million of inflation-indexed securities valued at the original face amount and $ 8 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 18,041 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 220 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 $ 200 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, November 4, 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 13 0 Within 15 days 15,302 + 2,635 3,234 - 206 16 to 90 days 47 0 16 to 90 days 91,727 - 1,174 37 - 15 Over 90 days 0 0 91 days to 1 year 141,032 - 1,234 93 0 Over 1 to 5 years 106,733 + 1,349 58 0 Over 5 to 10 years 42,034 0 185 0 Over 10 years 55,611 + 616 0 0 Total 60 0 Total 452,438 + 2,194 3,607 - 221 1 Includes $ 3,250 million of inflation-indexed securities valued at the original face amount and $ 59 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 November 4, 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 11,041 582 4,201 323 643 807 717 998 358 128 289 530 1,465 Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241 Coin 409 25 19 17 18 49 58 53 18 16 32 47 56 Loans 60 2 0 0 0 0 0 3 16 22 16 1 0 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 373 20 138 11 24 29 23 36 13 4 10 17 47 Held under repurchase agreements(1) 3,234 0 3,234 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 197,659 10,765 73,260 5,747 12,846 15,570 12,024 18,976 6,946 2,171 5,483 8,987 24,883 Notes (2) 185,034 10,077 68,581 5,380 12,026 14,576 11,256 17,764 6,502 2,033 5,133 8,413 23,293 Bonds (3) 67,696 3,687 25,091 1,968 4,400 5,333 4,118 6,499 2,379 744 1,878 3,078 8,522 Total bought outright(4) 450,388 24,529 166,932 13,094 29,272 35,479 27,398 43,238 15,827 4,948 12,494 20,479 56,698 Held under repurchase agreements(1) 2,050 0 2,050 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 452,438 24,529 168,982 13,094 29,272 35,479 27,398 43,238 15,827 4,948 12,494 20,479 56,698 Total loans and securities 456,105 24,551 172,354 13,105 29,296 35,508 27,420 43,277 15,857 4,974 12,520 20,497 56,745 Items in process of collection 8,435 646 1,017 358 422 625 949 582 362 668 488 395 1,922 Bank premises 1,294 93 158 50 155 125 80 107 31 131 54 149 161 Other assets(5) 34,966 1,674 10,426 1,495 2,125 4,177 2,133 3,460 926 884 835 1,636 5,194 Interdistrict settlement account 0 -2,959 +20,170 -282 -4,751 +702 -1,731 -2,797 -1,884 +334 +777 +2,863 -10,441 TOTAL ASSETS 521,450 25,143 211,547 15,349 28,482 42,786 30,229 46,579 16,008 7,256 15,243 26,484 56,343 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 $ 2,450 million of inflation-indexed securities valued at the original face amount and $ 51 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Includes $ 800 million of inflation-indexed securities valued at the original face amount and $ 8 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 18,041 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 220 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 $ 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 November 4, 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 474,430 23,053 197,777 13,812 25,933 37,864 26,408 42,139 14,373 5,630 13,791 23,813 49,836 Deposits Depository institutions 14,320 667 2,539 571 975 1,118 1,579 1,987 795 387 520 1,484 1,698 U.S. Treasury--general account 5,914 0 5,914 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 191 7 76 8 9 22 9 14 3 5 3 7 26 Other 439 0 105 2 4 90 4 208 4 0 16 2 4 Total deposits 20,864 674 8,634 580 988 1,231 1,593 2,209 802 392 540 1,493 1,728 Deferred credit items 8,296 560 870 245 387 678 1,015 568 383 703 448 389 2,052 Other liabilities and accrued dividends (1) 4,393 243 1,482 159 282 362 294 422 171 84 154 210 529 TOTAL LIABILITIES 507,982 24,531 208,762 14,795 27,590 40,135 29,310 45,339 15,730 6,809 14,932 25,905 54,144 CAPITAL ACCOUNTS Capital paid in 5,923 268 1,201 213 398 1,224 410 549 119 201 138 233 967 Surplus 5,220 254 1,055 273 335 818 338 502 122 189 119 271 945 Other capital accounts 2,325 90 529 67 159 610 170 190 37 57 54 75 286 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 521,450 25,143 211,547 15,349 28,482 42,786 30,229 46,579 16,008 7,256 15,243 26,484 56,343 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 591,309 27,852 239,966 16,865 30,256 46,388 36,957 53,103 16,925 7,348 16,668 30,824 68,158 Less--Held by F.R. Banks 116,879 4,798 42,189 3,053 4,323 8,525 10,549 10,964 2,551 1,718 2,877 7,011 18,322 F.R. notes, net 474,430 23,053 197,777 13,812 25,933 37,864 26,408 42,139 14,373 5,630 13,791 23,813 49,836 Collateral held against F.R. notes Gold certificate account 11,041 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 454,188 Total collateral 474,430 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.