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

Release Date: February 5, 1998

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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
                                                                                           February 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      Feb 4, 1998 Jan 28, 1998  Feb 5, 1997  Feb 4, 1998

Reserve Bank Credit  (1,2)                                  463,131    -   2,287    +  30,784      461,837
  U.S. government securities			        		      		     		   
    Bought outright-system account (3)                      427,804    -     659    +  35,934      427,516
    Held under repurchase agreements                            739    -   2,157    -   4,743            0
  Federal agency obligations			        		      		     		   
    Bought outright                                             685            0    -   1,354          685
    Held under repurchase agreements                            743    +     321    -     505            0
  Acceptances                                                     0            0            0            0
  Loans to depository institutions		        		      		     		   
    Adjustment credit                                            91    +       4    +      78          305
    Seasonal credit                                               9    -       7    -       8            6
    Extended credit                                               0            0            0            0
   Float                                                      1,005    +     418    +     500        1,461
   Other F.R. assets                                         32,055    -     207    +     882       31,864
Gold stock                                                   11,046    +       1    -       2       11,045
Special drawing rights certificate account                    9,200            0    -     200        9,200
Treasury currency outstanding                                25,714    +      14    +     667       25,714
        Total factors supplying reserve funds               509,090    -   2,271    +  31,249      507,797
						        		      		     		   
Currency in circulation*                                    469,340    -     858    +  30,288      470,852
Treasury cash holdings*                                         221    +       2    -      30          222
Deposits,other than reserve balances,with F.R.Banks     		      		     		   
  Treasury                                                    5,696    -   1,280    -     511        4,792
  Foreign                                                       200    +      34    +      34          164
  Service-related balances and adjustments (4)                7,277    -     308    +     105        7,277
  Other                                                         374    +      31    +       8          411
Other F.R. liabilities and capital                           15,932    -     151    +   2,411       15,605
        Total factors, other than reserve balances,     		      		     		   
        absorbing reserve funds                             499,040    -   2,529    +  32,306      499,324

Reserve balances with F.R. Banks  (5)                        10,050    +     258    -   1,056        8,472
						       		      		     		    
On   February 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 602,478 million, a change of 
 -$ 2,837 million for the week.  The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1  Net of $ 17,480 million daily average, matched sale-purchase transactions outstanding during the 
   latest statement week, of which a net of $ 16,992 million was with foreign official and international
   accounts.  Includes securities loaned--fully secured by U.S. government securities.
2  Net of $ 17,767 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week, of which a net of $ 16,357 million was with foreign official and international 
   accounts.  Includes $ 634 million securities loaned--fully secured U.S. government securities.
3  Includes $ 2050 million of inflation-indexed securities valued at the original face amount and 
   $ 22 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Consists of required clearing balances of $ 6,748 million and adjustments of $ 530 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
                                                            Feb 4, 1998     Jan 28, 1998      Feb 5, 1997
                ASSETS
Gold certificate account                                        11,045        +       1        -       3
Special drawing rights certificate account                       9,200                0        -     200
Coin                                                               560        +      28        -     145
					      
Loans                                                              311        +     284        +     291
Acceptances                                                          0                0                0
Federal agency obligations		      
  Bought outright                                                  685                0        -   1,354
  Held under repurchase agreements (1)                               0        -     760        -   1,749
U.S. government securities		      
  Bought outright--Bills                                       194,382        -     459        +   2,108
                   Notes (2)                                   173,727                0        +  23,412
                   Bonds                                        59,407                0        +  10,068
    Total bought outright (3)                                  427,516        -     460        +  35,587
  Held under repurchase agreements (1)                               0        -   8,978        -   2,364
     Total U.S. government securities                          427,516        -   9,438        +  33,223
       Total loans and securities                              428,512        -   9,914        +  30,412
					      
Items in process of collection                      (482)        8,235        +      55        +     498
Bank premises                                                    1,274                0        +      38
Other assets (4)                                                30,548        -   1,612        +     716
                TOTAL ASSETS                        (482)      489,374        -  11,442        +  31,317
					      
                LIABILITIES
Federal Reserve notes                                          445,920        +     794        +  29,916
Deposits		 		     
  Depository institutions                                       15,618        -  10,808        -     622
  U.S. Treasury--general account                                 4,792        -   2,054        -     558
  Foreign--official accounts                                       164        +       6        +       2
    Other                                                          411        +      77        +      33
      Total deposits                                            20,985        -  12,778        -   1,145
Deferred availability cash items                    (482)        6,864        +     790        +     288
Other liabilities and accrued dividends (5)                      4,476        -     159        +      82
                TOTAL LIABILITIES                   (482)      478,244        -  11,353        +  29,141
					      
                CAPITAL ACCOUNTS
Capital paid in                                                  5,478        +       2        +     782
Surplus                                                          5,220                0        +     998
Other capital accounts                                             431        -      90        +     396

*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 
   $ 22 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
3  Net of $ 17,767 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes $ 634 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 $ 185 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,   February 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        307          0     Within 15 days          18,670   -   2,896         10   -     760
16 to 90 days           4          0     16 to 90 days           92,094   -     656         94           0
Over 90 days            0          0     91 days to 1 year      132,653   -   6,234        150           0
                                         Over 1 to 5 years       94,484   +     349        151           0
                                         Over 5 to 10 years      41,306           0        255           0
                                         Over 10 years           48,308           0         25           0
    Total             311          0         Total              427,516   -   9,438        685   -     760

1  Includes $ 2050 million of inflation-indexed securities valued at the original face amount and 
   $ 22 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   February 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                      11,045        624      3,932        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                                             560         31         24         61         35         75         59         70         22         23         35         51         75
				       
Loans                                            311          0          0          0          0          0          0          1          5          0          4          0        300
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)              0          0          0          0          0          0          0          0          0          0          0          0          0
U.S. government securities	       
  Bought outright--Bills                     194,382     11,850     62,873      6,498     13,446     18,495     12,971     20,734      7,742      2,707      5,550      7,059     24,456
                   Notes (2)                 173,727     10,591     56,192      5,808     12,017     16,530     11,593     18,531      6,919      2,419      4,961      6,309     21,858
                   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)                427,516     26,062    138,280     14,292     29,572     40,677     28,528     45,601     17,027      5,954     12,207     15,526     53,788
  Held under repurchase agreements(1)              0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             427,516     26,062    138,280     14,292     29,572     40,677     28,528     45,601     17,027      5,954     12,207     15,526     53,788
       Total loans and securities            428,512     26,105    138,502     14,315     29,619     40,742     28,574     45,675     17,060      5,964     12,231     15,551     54,175
				       
Items in process of collection                 8,717        479      1,013        272        447        538        985        623        301        573        711        475      2,300
Bank premises                                  1,274         94        156         50        134        126         79        107         31        132         55        150        159
Other assets(4)                               30,548      1,563      8,446      1,306      1,919      3,899      1,946      3,089        879        816        754      1,344      4,587
Interdistrict settlement account                   0     -4,945    +34,453     -2,276     -2,318    -11,648     -1,127     -7,904     -1,888     -1,623        +87     +5,320     -6,132
          TOTAL ASSETS                       489,856     24,480    189,728     14,361     31,080     35,490     31,840     43,628     17,146      6,155     14,406     23,717     57,824

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 
   $ 22 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
3  Net of $ 17,767 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes $ 634 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 $ 185 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   February 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                        445,920     22,275    177,899     12,455     28,562     31,462     28,099     39,393     15,810      4,841     12,911     21,659     50,556
Deposits			      	      
  Depository institutions                     15,618        915      2,386        854      1,102      1,284      1,776      1,897        648        353        611        859      2,933
  U.S. Treasury--general account               4,792          0      4,792          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                     164          7         50          8          9         22          9         14          3          5          3          7         26
  Other                                          411          0        115          1          1         81         18        189          1          0          2          2          2
    Total deposits                            20,985        923      7,342        863      1,112      1,387      1,803      2,099        652        358        617        869      2,961
Deferred credit items                          7,345        462        856        230        381        541        894        588        250        474        441        440      1,789
Other liabilities and accrued	      	      
  dividends (1)                                4,476        278      1,322        181        302        419        322        480        192         95        163        181        541
    TOTAL LIABILITIES                        478,726     23,937    187,419     13,728     30,356     33,808     31,118     42,559     16,904      5,768     14,133     23,149     55,847
				      	      
       CAPITAL ACCOUNTS		      	      
Capital paid in                                5,478        263      1,109        317        357        834        360        526        115        195        135        285        982
Surplus                                        5,220        254      1,055        273        335        818        338        502        122        189        119        271        945
Other capital accounts                           431         27        145         43         31         29         23         41          5          3         20         12         50
     TOTAL LIABILITIES AND CAPITAL    	      
        ACCOUNTS                             489,856     24,480    189,728     14,361     31,080     35,490     31,840     43,628     17,146      6,155     14,406     23,717     57,824
				      	      
FEDERAL RESERVE AGENTS' ACCOUNTS      	      
				      	      
F.R. notes outstanding                       547,757     27,690    208,274     16,383     32,228     38,740     37,517     47,967     18,209      6,578     15,155     28,021     70,995
  Less--Held by F.R. Banks                   101,837      5,415     30,376      3,928      3,666      7,278      9,418      8,574      2,399      1,738      2,244      6,362     20,439
  F.R. notes, net                            445,920     22,275    177,899     12,455     28,562     31,462     28,099     39,393     15,810      4,841     12,911     21,659     50,556
Collateral held against F.R. notes    	      
   Gold certificate account                   11,045
   Special drawing rights	      	      
     certificate account                       9,200
   Other eligible assets                           0
   U.S. govt. and agency securities          425,674
     Total collateral                        445,920

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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Last update: February 5, 1998