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Release Date: December 3, 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
December 3, 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 2, 1998 Nov 25, 1998 Dec 3, 1997 Dec 2, 1998
Reserve Bank Credit (1,2) 501,454 + 7,276 + 34,394 498,928
U.S. government securities
Bought outright-system account (3) 454,398 + 1,572 + 34,456 454,213
Held under repurchase agreements 5,714 + 2,709 - 6,862 5,020
Federal agency obligations
Bought outright 368 - 4 - 317 368
Held under repurchase agreements 5,291 + 2,600 + 3,125 2,967
Acceptances 0 0 0 0
Loans to depository institutions
Adjustment credit 34 - 50 - 10 111
Seasonal credit 16 - 7 - 74 13
Extended credit 0 0 0 0
Float 728 + 77 + 362 1,690
Other F.R. assets 34,905 + 378 + 3,713 34,547
Gold stock 11,040 - 1 - 10 11,041
Special drawing rights certificate account 9,200 0 0 9,200
Treasury currency outstanding 26,121 + 14 + 523 26,121
Total factors supplying reserve funds 547,815 + 7,290 + 34,906 545,289
Currency in circulation* 506,913 + 3,048 + 35,043 507,669
Treasury cash holdings* 100 + 1 - 134 100
Deposits,other than reserve balances,with F.R.Banks
Treasury 5,304 + 279 + 542 4,382
Foreign 207 + 27 + 33 171
Service-related balances and adjustments (4) 7,212 + 417 + 35 7,212
Other 363 - 26 - 47 360
Other F.R. liabilities and capital 16,804 - 238 + 1,202 16,253
Total factors, other than reserve balances,
absorbing reserve funds 536,903 + 3,509 + 36,674 536,146
Reserve balances with F.R. Banks (5) 10,912 + 3,780 - 1,768 9,143
On December 2, 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 595,379 million, a change of
-$ 778 million for the week. The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1 Net of $ 18,660 million daily average, matched sale-purchase transactions outstanding during the
latest statement week, of which a net of $ 18,660 million was with foreign official and international
accounts. Includes securities loaned--fully secured by U.S. government securities.
2 Net of $ 18,846 million matched sale-purchase transactions outstanding at the end of the latest
statement week, of which a net of $ 18,846 million was with foreign official and international
accounts. Includes $ 50 million securities loaned--fully secured U.S. government securities.
3 Includes $ 3,687 million of inflation-indexed securities valued at the original face amount and
$ 71 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Consists of required clearing balances of $ 6,548 million and adjustments of $ 664 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 2, 1998 Nov 25, 1998 Dec 3, 1997
ASSETS
Gold certificate account 11,041 + 1 - 10
Special drawing rights certificate account 9,200 0 0
Coin 377 - 22 - 106
Loans 124 - 22 - 67
Acceptances 0 0 0
Federal agency obligations
Bought outright 368 0 - 317
Held under repurchase agreements (1) 2,967 - 1,695 + 1,942
U.S. government securities
Bought outright--Bills 196,853 - 313 + 2,549
Notes (2) 187,888 + 1 + 20,718
Bonds (3) 69,472 0 + 11,279
Total bought outright (4) 454,213 - 312 + 34,545
Held under repurchase agreements (1) 5,020 + 1,190 - 12,927
Total U.S. government securities 459,233 + 878 + 21,618
Total loans and securities 462,691 - 839 + 23,176
Items in process of collection (497) 9,257 + 1,626 + 1,073
Bank premises 1,294 - 1 + 30
Other assets (5) 33,330 - 830 + 3,302
TOTAL ASSETS (497) 527,190 - 66 + 27,466
LIABILITIES
Federal Reserve notes 482,025 + 925 + 34,100
Deposits
Depository institutions 16,130 - 574 - 8,746
U.S. Treasury--general account 4,382 - 499 + 171
Foreign--official accounts 171 - 81 - 2
Other 360 + 4 + 30
Total deposits 21,043 - 1,150 - 8,547
Deferred availability cash items (497) 7,869 + 758 + 1,043
Other liabilities and accrued dividends (6) 4,376 - 51 - 523
TOTAL LIABILITIES (497) 515,314 + 482 + 26,072
CAPITAL ACCOUNTS
Capital paid in 5,936 + 28 + 621
Surplus 5,209 - 11 + 823
Other capital accounts 732 - 564 - 50
*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 $ 2,867 million of inflation-indexed securities valued at the original face amount and
$ 61 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
3 Includes $ 820 million of inflation-indexed securities valued at the original face amount and
$ 9 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Net of $ 18,846 million matched sale-purchase transactions outstanding at the end of the latest
statement week. Includes $ 50 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 $ 110 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, December 2, 1998
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 days 111 0 Within 15 days 13,380 - 1,250 2,997 - 1,695
16 to 90 days 12 0 16 to 90 days 99,594 + 3,090 2 0
Over 90 days 0 0 91 days to 1 year 138,427 - 457 100 0
Over 1 to 5 years 107,348 - 507 51 0
Over 5 to 10 years 44,818 + 1 185 0
Over 10 years 55,667 0 0 0
Total 124 0 Total 459,233 + 878 3,335 - 1,695
1 Includes $ 3,687 million of inflation-indexed securities valued at the original face amount and
$ 71 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 2, 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 377 26 19 21 15 48 50 43 18 14 27 41 55
Loans 124 0 1 0 0 8 100 1 2 4 8 0 0
Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal agency obligations
Bought outright 368 20 136 11 24 29 22 35 13 4 10 17 46
Held under repurchase agreements(1) 2,967 0 2,967 0 0 0 0 0 0 0 0 0 0
U.S. government securities
Bought outright--Bills 196,853 10,721 72,962 5,723 12,794 15,507 11,975 18,898 6,918 2,163 5,461 8,951 24,781
Notes (2) 187,888 10,233 69,639 5,463 12,211 14,801 11,429 18,038 6,603 2,064 5,212 8,543 23,653
Bonds (3) 69,472 3,784 25,749 2,020 4,515 5,473 4,226 6,669 2,441 763 1,927 3,159 8,746
Total bought outright(4) 454,213 24,737 168,350 13,206 29,521 35,780 27,630 43,605 15,962 4,990 12,600 20,652 57,180
Held under repurchase agreements(1) 5,020 0 5,020 0 0 0 0 0 0 0 0 0 0
Total U.S. govt. securities 459,233 24,737 173,370 13,206 29,521 35,780 27,630 43,605 15,962 4,990 12,600 20,652 57,180
Total loans and securities 462,691 24,757 176,474 13,216 29,544 35,817 27,753 43,641 15,976 4,998 12,618 20,669 57,226
Items in process of collection 9,754 598 853 453 476 796 1,638 841 412 736 451 522 1,977
Bank premises 1,294 93 158 50 155 125 81 107 31 131 54 148 162
Other assets(5) 33,330 1,549 10,487 1,479 1,978 3,953 1,994 3,036 856 840 771 1,524 4,864
Interdistrict settlement account 0 -1,087 +13,278 +1,069 -4,749 +2,177 -1,226 -2,208 -1,932 +488 +1,096 +2,658 -9,565
TOTAL ASSETS 527,687 27,049 208,671 16,893 28,637 44,515 31,609 47,358 16,060 7,458 15,553 26,460 57,424
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 $ 2,867 million of inflation-indexed securities valued at the original face amount and
$ 61 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
3 Includes $ 820 million of inflation-indexed securities valued at the original face amount and
$ 9 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Net of $ 18,846 million matched sale-purchase transactions outstanding at the end of the latest
statement week. Includes $ 50 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 $ 110 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 2, 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 482,025 24,785 195,976 15,341 26,160 39,813 27,898 43,131 14,557 5,700 13,894 23,935 50,833
Deposits
Depository institutions 16,130 1,012 3,396 643 1,025 1,177 1,399 1,943 685 568 707 1,440 2,136
U.S. Treasury--general account 4,382 0 4,382 0 0 0 0 0 0 0 0 0 0
Foreign--official accounts 171 7 56 8 9 22 9 14 3 5 3 7 26
Other 360 0 104 2 1 71 15 111 17 12 21 1 6
Total deposits 21,043 1,019 7,937 653 1,036 1,270 1,423 2,068 705 585 731 1,449 2,168
Deferred credit items 8,366 475 812 306 372 652 1,170 634 381 698 503 368 1,994
Other liabilities and accrued
dividends (1) 4,376 242 1,467 156 287 382 297 419 173 85 153 208 507
TOTAL LIABILITIES 515,810 26,521 206,193 16,456 27,855 42,116 30,789 46,252 15,817 7,068 15,281 25,960 55,502
CAPITAL ACCOUNTS
Capital paid in 5,936 268 1,208 175 398 1,237 419 576 120 202 138 223 971
Surplus 5,209 254 1,055 263 335 818 338 502 122 188 119 270 945
Other capital accounts 732 6 216 0 48 344 62 27 1 0 15 6 7
TOTAL LIABILITIES AND CAPITAL
ACCOUNTS 527,687 27,049 208,671 16,893 28,637 44,515 31,609 47,358 16,060 7,458 15,553 26,460 57,424
FEDERAL RESERVE AGENTS' ACCOUNTS
F.R. notes outstanding 603,378 29,282 240,553 18,124 29,993 49,149 39,239 53,530 17,098 7,488 16,777 33,658 68,489
Less--Held by F.R. Banks 121,353 4,497 44,577 2,783 3,833 9,335 11,341 10,399 2,540 1,788 2,882 9,723 17,655
F.R. notes, net 482,025 24,785 195,976 15,341 26,160 39,813 27,898 43,131 14,557 5,700 13,894 23,935 50,833
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 461,785
Total collateral 482,025
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: December 3, 1998