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Release Date: December 31, 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 31, 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 30, 1998 Dec 23, 1998 Dec 31, 1997 Dec 30, 1998
Reserve Bank Credit (1,2) 511,015 + 6,726 + 34,760 517,658
U.S. government securities
Bought outright-system account (3) 454,191 + 1,080 + 23,324 454,772
Held under repurchase agreements 11,000 + 2,903 + 1,083 15,549
Federal agency obligations
Bought outright 338 0 - 347 338
Held under repurchase agreements 5,570 - 197 + 4,068 7,388
Acceptances 0 0 0 0
Loans to depository institutions
Adjustment credit 345 + 337 - 327 1,642
Seasonal credit 20 + 5 - 44 27
Extended credit 0 0 0 0
Float 3,443 + 1,643 + 2,678 926
Other F.R. assets 36,107 + 955 + 4,325 37,016
Gold stock 11,043 + 2 - 5 11,046
Special drawing rights certificate account 9,200 0 0 9,200
Treasury currency outstanding 26,177 + 14 + 571 26,177
Total factors supplying reserve funds 557,434 + 6,742 + 35,325 564,081
Currency in circulation* 516,707 + 5,326 + 35,162 518,257
Treasury cash holdings* 85 0 - 144 85
Deposits,other than reserve balances,with F.R.Banks
Treasury 7,195 + 1,761 + 2,437 10,174
Foreign 174 - 20 - 39 166
Service-related balances and adjustments (4) 6,853 - 124 - 100 6,853
Other 235 + 4 - 130 164
Other F.R. liabilities and capital 17,152 - 45 + 929 16,957
Total factors, other than reserve balances,
absorbing reserve funds 548,401 + 6,903 + 38,115 552,655
Reserve balances with F.R. Banks (5) 9,033 - 161 - 2,790 11,426
On December 30, 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 594,076 million, a change of
-$ 5,457 million for the week. The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1 Net of $ 18,876 million daily average, matched sale-purchase transactions outstanding during the
latest statement week, of which a net of $ 18,876 million was with foreign official and international
accounts. Includes securities loaned--fully secured by U.S. government securities.
2 Net of $ 18,295 million matched sale-purchase transactions outstanding at the end of the latest
statement week, of which a net of $ 18,295 million was with foreign official and international
accounts. Includes $ 438 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
$ 79 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Consists of required clearing balances of $ 6,584 million and adjustments of $ 269 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 30, 1998 Dec 23, 1998 Dec 31, 1997
ASSETS
Gold certificate account 11,046 + 5 - 1
Special drawing rights certificate account 9,200 0 0
Coin 360 - 32 - 100
Loans 1,669 + 1,627 - 366
Acceptances 0 0 0
Federal agency obligations
Bought outright 338 0 - 347
Held under repurchase agreements (1) 7,388 + 1,646 + 4,736
U.S. government securities
Bought outright--Bills 197,404 + 113 + 281
Notes (2) 187,895 + 2 + 13,689
Bonds (3) 69,474 0 + 10,067
Total bought outright (4) 454,772 + 115 + 24,037
Held under repurchase agreements (1) 15,549 + 7,704 - 5,639
Total U.S. government securities 470,321 + 7,819 + 18,398
Total loans and securities 479,716 + 11,092 + 22,420
Items in process of collection (517) 8,895 - 2,637 + 1,095
Bank premises 1,297 0 + 25
Other assets (5) 35,809 + 1,610 + 5,036
TOTAL ASSETS (517) 546,322 + 10,038 + 28,475
LIABILITIES
Federal Reserve notes 492,524 + 2,543 + 35,056
Deposits
Depository institutions 18,931 + 1,907 - 11,907
U.S. Treasury--general account 10,174 + 6,337 + 4,730
Foreign--official accounts 166 - 9 - 291
Other 164 - 11 - 736
Total deposits 29,435 + 8,224 - 8,204
Deferred availability cash items (517) 7,406 - 716 + 167
Other liabilities and accrued dividends (6) 4,464 + 16 - 382
TOTAL LIABILITIES (517) 533,829 + 10,066 + 26,636
CAPITAL ACCOUNTS
Capital paid in 5,951 + 3 + 518
Surplus 5,246 + 25 + 25
Other capital accounts 1,296 - 56 + 1,296
*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
$ 68 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
$ 11 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Net of $ 18,295 million matched sale-purchase transactions outstanding at the end of the latest
statement week. Includes $ 438 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 $ 0 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 30, 1998
Holdings of securities include securitites held under repurchase agreements, which are classified according
to remaining maturity.
Millions of dollars
U.S. government Federal agency
Loans Acceptances securities (1) obligations
Weekly Weekly
Holdings changes Holdings changes
Within 15 days 1,668 0 Within 15 days 23,470 + 8,990 4,035 + 1,646
16 to 90 days 1 0 16 to 90 days 101,758 - 903 3,380 0
Over 90 days 0 0 91 days to 1 year 137,252 - 270 75 0
Over 1 to 5 years 107,350 + 1 61 0
Over 5 to 10 years 44,822 + 1 175 0
Over 10 years 55,668 0 0 0
Total 1,669 0 Total 470,321 + 7,819 7,726 + 1,646
1 Includes $ 3,687 million of inflation-indexed securities valued at the original face amount and
$ 79 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 30, 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 11,046 582 4,206 323 643 807 717 998 358 128 289 530 1,465
Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241
Coin 360 25 15 23 16 52 43 36 19 16 24 38 53
Loans 1,669 1 1,630 5 0 0 4 5 9 4 7 0 4
Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal agency obligations
Bought outright 338 18 125 10 22 27 21 32 12 4 9 15 42
Held under repurchase agreements(1) 7,388 0 7,388 0 0 0 0 0 0 0 0 0 0
U.S. government securities
Bought outright--Bills 197,404 10,751 73,166 5,739 12,830 15,550 12,008 18,951 6,937 2,169 5,476 8,976 24,851
Notes (2) 187,895 10,233 69,641 5,463 12,212 14,801 11,430 18,038 6,603 2,064 5,212 8,543 23,654
Bonds (3) 69,474 3,784 25,750 2,020 4,515 5,473 4,226 6,670 2,441 763 1,927 3,159 8,746
Total bought outright(4) 454,772 24,768 168,557 13,222 29,557 35,824 27,664 43,659 15,981 4,996 12,616 20,678 57,250
Held under repurchase agreements(1) 15,549 0 15,549 0 0 0 0 0 0 0 0 0 0
Total U.S. govt. securities 470,321 24,768 184,106 13,222 29,557 35,824 27,664 43,659 15,981 4,996 12,616 20,678 57,250
Total loans and securities 479,716 24,787 193,249 13,236 29,579 35,851 27,689 43,696 16,003 5,004 12,632 20,693 57,297
Items in process of collection 9,412 628 949 362 780 525 1,047 844 505 616 548 399 2,210
Bank premises 1,297 94 158 50 156 125 82 107 31 131 54 148 161
Other assets(5) 35,809 1,625 12,238 1,483 2,062 4,063 2,071 3,059 899 858 810 1,601 5,039
Interdistrict settlement account 0 +551 +170 +2,134 -4,940 +4,263 +4,812 -551 -1,527 +1,347 +1,214 +2,102 -9,574
TOTAL ASSETS 546,840 28,822 214,187 17,893 28,870 46,479 37,063 49,088 16,627 8,223 15,818 25,878 57,892
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
$ 68 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
$ 11 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Net of $ 18,295 million matched sale-purchase transactions outstanding at the end of the latest
statement week. Includes $ 438 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 $ 0 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 30, 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 492,524 26,460 194,155 16,456 26,257 41,714 33,279 44,636 14,776 6,154 14,308 23,191 51,136
Deposits
Depository institutions 18,931 1,099 4,671 567 1,109 1,134 1,650 2,163 1,038 942 645 1,586 2,326
U.S. Treasury--general account 10,174 0 10,174 0 0 0 0 0 0 0 0 0 0
Foreign--official accounts 166 7 51 8 9 22 9 14 3 5 3 7 26
Other 164 0 101 1 5 26 13 1 1 1 13 1 2
Total deposits 29,435 1,107 14,997 575 1,124 1,182 1,672 2,178 1,043 948 662 1,594 2,354
Deferred credit items 7,923 454 849 248 386 691 961 655 387 626 405 371 1,890
Other liabilities and accrued
dividends (1) 4,464 239 1,579 154 273 381 297 415 172 85 151 206 511
TOTAL LIABILITIES 534,347 28,260 211,580 17,433 28,039 43,968 36,210 47,884 16,378 7,813 15,527 25,362 55,891
CAPITAL ACCOUNTS
Capital paid in 5,951 267 1,208 177 398 1,238 418 582 121 202 140 227 972
Surplus 5,246 254 1,055 273 335 818 338 527 122 189 119 271 945
Other capital accounts 1,296 40 343 11 97 455 96 95 7 18 31 18 84
TOTAL LIABILITIES AND CAPITAL
ACCOUNTS 546,840 28,822 214,187 17,893 28,870 46,479 37,063 49,088 16,627 8,223 15,818 25,878 57,892
FEDERAL RESERVE AGENTS' ACCOUNTS
F.R. notes outstanding 612,055 30,310 239,861 18,455 29,561 50,949 44,489 54,143 17,304 7,693 17,221 33,692 68,375
Less--Held by F.R. Banks 119,530 3,849 45,706 1,999 3,304 9,235 11,210 9,507 2,528 1,539 2,913 10,501 17,239
F.R. notes, net 492,524 26,460 194,155 16,456 26,257 41,714 33,279 44,636 14,776 6,154 14,308 23,191 51,136
Collateral held against F.R. notes
Gold certificate account 11,046
Special drawing rights
certificate account 9,200
Other eligible assets 0
U.S. govt. and agency securities 472,278
Total collateral 492,524
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 31, 1998