Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page

Release Date: January 2, 1998

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FEDERAL RESERVE
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H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of F.R. Banks
                                                                                            January 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     Dec 31, 1997 Dec 24, 1997  Jan 1, 1997 Dec 31, 1997

Reserve Bank Credit  (1,2)                                  476,190    +   4,584    +  28,545      489,969
  U.S. government securities			        		      		     		   
    Bought outright-system account (3)                      430,866    +   1,669    +  38,484      430,736
    Held under repurchase agreements                          9,917    +   2,647    -   6,673       21,188
  Federal agency obligations			        		      		     		   
    Bought outright                                             685            0    -   1,540          685
    Held under repurchase agreements                          1,502    +      19    +     149        2,652
  Acceptances                                                     0            0            0            0
  Loans to depository institutions		        		      		     		   
    Adjustment credit                                           673    +     581    +     633        2,001
    Seasonal credit                                              64    -      14    +       7           35
    Extended credit                                               0            0            0            0
   Float                                                        696    -     164    -   1,900          649
   Other F.R. assets                                         31,787    -     154    -     614       32,025
Gold stock                                                   11,048    -       1            0       11,047
Special drawing rights certificate account                    9,200            0    -     518        9,200
Treasury currency outstanding                                25,644    +      14    +     663       25,644
        Total factors supplying reserve funds               522,082    +   4,597    +  28,690      535,860
						        		      		     		   
Currency in circulation*                                    481,584    +   4,437    +  31,702      482,428
Treasury cash holdings*                                         229    -       1    -      20          225
Deposits,other than reserve balances,with F.R.Banks     		      		     		   
  Treasury                                                    4,758    -     243    -   1,568        5,444
  Foreign                                                       213    +      57    +      43          457
  Service-related balances and adjustments (4)                6,957    -      30    +      71        6,957
  Other                                                         365    +      31    -      71          900
Other F.R. liabilities and capital                           16,223    -     120    +   1,882       15,500
        Total factors, other than reserve balances,     		      		     		   
        absorbing reserve funds                             510,329    +   4,132    +  32,038      511,911

Reserve balances with F.R. Banks  (5)                        11,753    +     465    -   3,349       23,949
						       		      		     		    
On  December 31, 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 602,834 million, a change of 
 -$ 542 million for the week.  The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1  Net of $ 16,896 million daily average, matched sale-purchase transactions outstanding during the 
   latest statement week, of which a net of $ 16,896 million was with foreign official and international
   accounts.  Includes securities loaned--fully secured by U.S. government securities.
2  Net of $ 17,027 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week, of which a net of $ 17,027 million was with foreign official and international 
   accounts.  Includes $ 887 million securities loaned--fully secured U.S. government securities.
3  Includes $ 1650 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 $ 6,686 million and adjustments of $ 271 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
                                                           Dec 31, 1997     Dec 24, 1997      Jan 1, 1997
                ASSETS
Gold certificate account                                        11,047        -       1        -       1
Special drawing rights certificate account                       9,200                0        -     518
Coin                                                               460        -      25        -     131
					      
Loans                                                            2,035        +   1,939        +   1,950
Acceptances                                                          0                0                0
Federal agency obligations		      
  Bought outright                                                  685                0        -   1,540
  Held under repurchase agreements (1)                           2,652        +     750        +   1,040
U.S. government securities		      
  Bought outright--Bills                                       197,123        -   1,324        +   6,476
                   Notes (2)                                   174,206        +       1        +  23,284
                   Bonds                                        59,407                0        +  10,068
    Total bought outright (3)                                  430,736        -   1,324        +  39,828
  Held under repurchase agreements (1)                          21,188        +  14,065        +   1,217
     Total U.S. government securities                          451,924        +  12,741        +  41,045
       Total loans and securities                              457,295        +  15,431        +  42,495
					      
Items in process of collection                      (578)        7,800        -   3,084        -   4,960
Bank premises                                                    1,272        +       1        +      39
Other assets (4)                                                30,773        +     384        -     216
                TOTAL ASSETS                        (578)      517,847        +  12,705        +  36,707
					      
                LIABILITIES
Federal Reserve notes                                          457,469        +   1,837        +  30,947
Deposits		 		     
  Depository institutions                                       30,838        +  10,742        +   6,314
  U.S. Treasury--general account                                 5,444        +     495        -   2,298
  Foreign--official accounts                                       457        +     300        +     290
    Other                                                          900        +     603        +       7
      Total deposits                                            37,639        +  12,140        +   4,314
Deferred availability cash items                    (578)        7,239        -     631        -     224
Other liabilities and accrued dividends (5)                      4,846        -      86        +     114
                TOTAL LIABILITIES                   (578)      507,193        +  13,260        +  35,151
					      
                CAPITAL ACCOUNTS
Capital paid in                                                  5,433        -       9        +     832
Surplus                                                          5,220        +     832        +     725
Other capital accounts                                               0        -   1,377                0

*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 $ 1650 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 $ 17,027 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes $ 887 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 $ 63 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,  December 31, 1997
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      2,014          0     Within 15 days          34,147   +  14,240      2,652   +     750
16 to 90 days          21          0     16 to 90 days           95,648   +      48         60           0
Over 90 days            0          0     91 days to 1 year      137,886   -     374        192           0
                                         Over 1 to 5 years       95,028   -   1,173        153           0
                                         Over 5 to 10 years      40,907           0        255           0
                                         Over 10 years           48,308           0         25           0
    Total           2,035          0         Total              451,924   +  12,741      3,337   +     750

1  Includes $ 1650 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  December 31, 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                      11,047        624      3,934        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                                             460         23         20         53         27         64         45         52         15         20         36         37         68
				       
Loans                                          2,035         21      1,465         16          0          0        163         13          4          5         13          0        335
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Federal agency obligations	       
  Bought outright                                685         42        221         23         47         65         46         73         27         10         20         25         86
  Held under repurchase agreements(1)          2,652          0      2,652          0          0          0          0          0          0          0          0          0          0
U.S. government securities	       
  Bought outright--Bills                     197,123     12,017     63,760      6,590     13,635     18,756     13,154     21,026      7,851      2,745      5,629      7,159     24,801
                   Notes (2)                 174,206     10,620     56,347      5,824     12,050     16,575     11,625     18,582      6,938      2,426      4,974      6,327     21,918
                   Bonds                      59,407      3,622     19,215      1,986      4,109      5,652      3,964      6,337      2,366        827      1,696      2,157      7,474
     Total bought outright(3)                430,736     26,259    139,322     14,400     29,794     40,983     28,743     45,944     17,156      5,999     12,299     15,643     54,194
  Held under repurchase agreements(1)         21,188          0     21,188          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             451,924     26,259    160,510     14,400     29,794     40,983     28,743     45,944     17,156      5,999     12,299     15,643     54,194
       Total loans and securities            457,295     26,322    164,848     14,438     29,842     41,048     28,952     46,031     17,186      6,014     12,332     15,668     54,615
				       
Items in process of collection                 8,378        441      1,026        222        352        474      1,287        773         93        701        440        359      2,210
Bank premises                                  1,272         94        156         51        132        126         78        108         31        132         55        150        159
Other assets(4)                               30,773      1,334      9,825      1,399      1,848      2,335      2,340      3,211        863        585        978      1,371      4,685
Interdistrict settlement account                   0     -3,621    +16,310       -163     -1,888     -8,464       +793     -5,705       -534     -1,206       +880     +5,258     -1,659
          TOTAL ASSETS                       518,425     25,747    199,321     16,631     31,556     37,339     34,820     46,438     18,395      6,516     15,252     23,669     62,740

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 $ 1650 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 $ 17,027 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes $ 887 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 $ 63 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  December 31, 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                        457,469     22,984    179,316     13,970     28,441     32,459     30,390     40,531     16,422      4,792     13,541     20,007     54,617
Deposits			      	      
  Depository institutions                     30,838      1,544      9,257      1,720      1,815      2,062      2,081      3,570      1,244        629        761      2,479      3,677
  U.S. Treasury--general account               5,444          0      5,444          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                     457          5        346          9          9         10         13         17          4          3          5          8         28
  Other                                          900          2        359         10         54         81        101        125         28          4         63         13         61
    Total deposits                            37,639      1,551     15,406      1,739      1,879      2,152      2,195      3,712      1,275        636        829      2,500      3,765
Deferred credit items                          7,817        412        794        184        235        650      1,210        679        252        610        473        424      1,893
Other liabilities and accrued	      	      
  dividends (1)                                4,846        283      1,643        181        316        427        328        487        197         96        164        184        540
    TOTAL LIABILITIES                        507,771     25,231    197,158     16,074     30,871     35,688     34,123     45,409     18,147      6,134     15,007     23,115     60,815
				      	      
       CAPITAL ACCOUNTS		      	      
Capital paid in                                5,433        262      1,108        284        349        833        359        527        127        194        127        283        980
Surplus                                        5,220        254      1,055        273        335        818        338        502        122        189        119        271        945
Other capital accounts                             0          0          0          0          0          0          0          0          0          0          0          0          0
     TOTAL LIABILITIES AND CAPITAL    	      
        ACCOUNTS                             518,425     25,747    199,321     16,631     31,556     37,339     34,820     46,438     18,395      6,516     15,252     23,669     62,740
				      	      
FEDERAL RESERVE AGENTS' ACCOUNTS      	      
				      	      
F.R. notes outstanding                       549,600     27,943    209,843     16,784     31,706     39,172     38,413     47,119     18,568      6,480     15,339     26,054     72,179
  Less--Held by F.R. Banks                    92,131      4,959     30,527      2,815      3,265      6,713      8,023      6,589      2,145      1,689      1,798      6,047     17,562
  F.R. notes, net                            457,469     22,984    179,316     13,970     28,441     32,459     30,390     40,531     16,422      4,792     13,541     20,007     54,617
Collateral held against F.R. notes    	      
   Gold certificate account                   11,047
   Special drawing rights	      	      
     certificate account                       9,200
   Other eligible assets                           0
   U.S. govt. and agency securities          437,222
     Total collateral                        457,469

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.
 

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