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Release Date: May 21, 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
May 21, 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 May 20, 1998 May 13, 1998 May 21, 1997 May 20, 1998
Reserve Bank Credit (1,2) 474,000 + 4,875 + 31,726 478,383
U.S. government securities
Bought outright-system account (3) 441,514 + 6,914 + 35,607 442,820
Held under repurchase agreements 421 + 421 - 4,422 2,945
Federal agency obligations
Bought outright 551 0 - 1,420 551
Held under repurchase agreements 150 + 150 - 249 1,050
Acceptances 0 0 0 0
Loans to depository institutions
Adjustment credit 6 - 148 - 19 25
Seasonal credit 97 + 24 - 86 110
Extended credit 0 0 0 0
Float 748 - 342 + 353 556
Other F.R. assets 30,514 - 2,145 + 1,962 30,327
Gold stock 11,048 0 - 3 11,048
Special drawing rights certificate account 9,200 0 0 9,200
Treasury currency outstanding 25,886 + 14 + 622 25,886
Total factors supplying reserve funds 520,134 + 4,889 + 32,346 524,517
Currency in circulation* 478,490 + 54 + 30,175 479,942
Treasury cash holdings* 247 - 1 - 76 238
Deposits,other than reserve balances,with F.R.Banks
Treasury 5,428 - 628 + 252 4,697
Foreign 167 + 1 + 2 174
Service-related balances and adjustments (4) 6,784 + 137 - 329 6,784
Other 368 - 9 + 8 371
Other F.R. liabilities and capital 16,463 - 228 + 1,417 16,251
Total factors, other than reserve balances,
absorbing reserve funds 507,946 - 674 + 31,448 508,457
Reserve balances with F.R. Banks (5) 12,187 + 5,563 + 898 16,059
On May 20, 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 608,700 million, a change of
+$ 1,838 million for the week. The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1 Net of $ 16,687 million daily average, matched sale-purchase transactions outstanding during the
latest statement week, of which a net of $ 15,925 million was with foreign official and international
accounts. Includes securities loaned--fully secured by U.S. government securities.
2 Net of $ 15,382 million matched sale-purchase transactions outstanding at the end of the latest
statement week, of which a net of $ 15,382 million was with foreign official and international
accounts. Includes $ 213 million securities loaned--fully secured U.S. government securities.
3 Includes $ 2,450 million of inflation-indexed securities valued at the original face amount and
$ 30 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Consists of required clearing balances of $ 6,446 million and adjustments of $ 338 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
May 20, 1998 May 13, 1998 May 21, 1997
ASSETS
Gold certificate account 11,048 0 - 3
Special drawing rights certificate account 9,200 0 0
Coin 434 - 15 - 132
Loans 135 + 45 - 78
Acceptances 0 0 0
Federal agency obligations
Bought outright 551 0 - 1,420
Held under repurchase agreements (1) 1,050 + 1,050 - 503
U.S. government securities
Bought outright--Bills 200,318 + 5,175 + 4,917
Notes (2) 180,589 + 1 + 22,819
Bonds (3) 61,914 0 + 8,998
Total bought outright (4) 442,820 + 5,176 + 36,733
Held under repurchase agreements (1) 2,945 + 2,945 - 5,123
Total U.S. government securities 445,765 + 8,121 + 31,610
Total loans and securities 447,500 + 9,216 + 29,609
Items in process of collection (398) 7,187 + 439 + 996
Bank premises 1,288 + 1 + 45
Other assets (5) 28,925 - 2,454 + 1,214
TOTAL ASSETS (398) 505,582 + 7,187 + 31,729
LIABILITIES
Federal Reserve notes 454,728 + 618 + 29,455
Deposits
Depository institutions 22,726 + 6,605 + 622
U.S. Treasury--general account 4,697 - 431 - 610
Foreign--official accounts 174 + 19 + 11
Other 371 - 2 + 1
Total deposits 27,968 + 6,192 + 25
Deferred availability cash items (398) 6,635 + 294 + 825
Other liabilities and accrued dividends (6) 4,715 - 56 - 129
TOTAL LIABILITIES (398) 494,046 + 7,047 + 30,176
CAPITAL ACCOUNTS
Capital paid in 5,658 + 94 + 842
Surplus 5,220 0 + 725
Other capital accounts 658 + 45 - 14
*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 $ 2,050 million of inflation-indexed securities valued at the original face amount and
$ 29 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
3 Includes $ 400 million of inflation-indexed securities valued at the original face amount and
$ 1 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Net of $ 15,382 million matched sale-purchase transactions outstanding at the end of the latest
statement week. Includes $ 213 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 $ 183 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, May 20, 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 123 0 Within 15 days 17,747 + 4,434 1,050 + 1,050
16 to 90 days 12 0 16 to 90 days 91,940 + 4,080 50 0
Over 90 days 0 0 91 days to 1 year 145,420 - 878 125 0
Over 1 to 5 years 96,868 - 1,905 126 0
Over 5 to 10 years 43,013 + 2,389 225 0
Over 10 years 50,777 0 25 0
Total 135 0 Total 445,765 + 8,121 1,601 + 1,050
1 Includes $ 2,450 million of inflation-indexed securities valued at the original face amount and
$ 30 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 May 20, 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 11,048 582 4,208 323 643 807 717 998 358 128 289 530 1,465
Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241
Coin 434 22 25 33 26 48 48 58 20 20 41 36 57
Loans 135 0 0 0 0 0 5 53 17 31 19 0 11
Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal agency obligations
Bought outright 551 30 204 16 36 43 33 53 19 6 15 25 69
Held under repurchase agreements(1) 1,050 0 1,050 0 0 0 0 0 0 0 0 0 0
U.S. government securities
Bought outright--Bills 200,318 10,910 74,246 5,824 13,019 15,780 12,185 19,231 7,039 2,201 5,557 9,108 25,217
Notes (2) 180,589 9,835 66,933 5,250 11,737 14,226 10,985 17,337 6,346 1,984 5,010 8,211 22,734
Bonds (3) 61,914 3,372 22,948 1,800 4,024 4,877 3,766 5,944 2,176 680 1,718 2,815 7,794
Total bought outright(4) 442,820 24,117 164,127 12,874 28,780 34,883 26,937 42,512 15,561 4,865 12,284 20,134 55,745
Held under repurchase agreements(1) 2,945 0 2,945 0 0 0 0 0 0 0 0 0 0
Total U.S. govt. securities 445,765 24,117 167,072 12,874 28,780 34,883 26,937 42,512 15,561 4,865 12,284 20,134 55,745
Total loans and securities 447,500 24,147 168,326 12,890 28,816 34,926 26,975 42,618 15,598 4,901 12,318 20,159 55,825
Items in process of collection 7,586 427 757 392 379 576 772 719 350 644 370 375 1,824
Bank premises 1,288 93 157 50 145 126 82 108 31 132 54 150 160
Other assets(5) 28,925 1,390 8,432 1,211 1,762 3,593 1,773 2,804 762 766 693 1,365 4,373
Interdistrict settlement account 0 -1,584 +9,101 -352 -508 -2,863 -282 -189 -679 +618 +1,683 +2,906 -7,851
TOTAL ASSETS 505,981 25,607 194,209 14,830 31,836 38,006 30,688 48,016 16,780 7,331 15,695 25,888 57,096
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 $ 2,050 million of inflation-indexed securities valued at the original face amount and
$ 29 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
3 Includes $ 400 million of inflation-indexed securities valued at the original face amount and
$ 1 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Net of $ 15,382 million matched sale-purchase transactions outstanding at the end of the latest
statement week. Includes $ 213 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 $ 183 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 May 20, 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 454,728 22,552 180,469 12,861 28,605 32,917 26,891 42,052 15,380 5,413 14,013 23,338 50,238
Deposits
Depository institutions 22,726 1,886 4,177 1,010 1,767 2,176 1,868 3,638 700 844 817 1,415 2,428
U.S. Treasury--general account 4,697 0 4,697 0 0 0 0 0 0 0 0 0 0
Foreign--official accounts 174 7 59 8 9 22 9 14 3 5 3 7 26
Other 371 1 101 0 3 77 1 185 0 0 2 1 1
Total deposits 27,968 1,894 9,034 1,018 1,779 2,275 1,878 3,837 703 849 822 1,423 2,455
Deferred credit items 7,034 405 681 224 362 523 759 592 272 599 421 374 1,823
Other liabilities and accrued
dividends (1) 4,715 263 1,565 171 302 394 327 457 183 89 164 225 575
TOTAL LIABILITIES 494,445 25,113 191,749 14,274 31,048 36,109 29,855 46,939 16,538 6,950 15,419 25,360 55,091
CAPITAL ACCOUNTS
Capital paid in 5,658 214 1,161 267 385 981 457 527 116 191 135 234 990
Surplus 5,220 254 1,055 273 335 818 338 502 122 189 119 271 945
Other capital accounts 658 27 244 16 68 98 36 48 5 2 22 23 70
TOTAL LIABILITIES AND CAPITAL
ACCOUNTS 505,981 25,607 194,209 14,830 31,836 38,006 30,688 48,016 16,780 7,331 15,695 25,888 57,096
FEDERAL RESERVE AGENTS' ACCOUNTS
F.R. notes outstanding 564,878 26,690 226,188 15,460 31,810 39,901 35,496 50,894 17,681 7,061 16,280 29,008 68,411
Less--Held by F.R. Banks 110,149 4,138 45,719 2,599 3,205 6,984 8,604 8,842 2,301 1,648 2,267 5,670 18,172
F.R. notes, net 454,728 22,552 180,469 12,861 28,605 32,917 26,891 42,052 15,380 5,413 14,013 23,338 50,238
Collateral held against F.R. notes
Gold certificate account 11,048
Special drawing rights
certificate account 9,200
Other eligible assets 0
U.S. govt. and agency securities 434,480
Total collateral 454,728
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: May 21, 1998