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Release Date: September 24, 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
September 24, 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 Sep 23, 1998 Sep 16, 1998 Sep 24, 1997 Sep 23, 1998
Reserve Bank Credit (1,2) 486,056 - 719 + 33,001 491,403
U.S. government securities
Bought outright-system account (3) 444,810 + 2,025 + 33,473 445,804
Held under repurchase agreements 5,675 - 2,363 - 2,834 8,630
Federal agency obligations
Bought outright 403 0 - 523 403
Held under repurchase agreements 1,521 - 209 + 796 2,075
Acceptances 0 0 0 0
Loans to depository institutions
Adjustment credit 11 - 16 - 5 9
Seasonal credit 174 + 7 - 205 177
Extended credit 0 0 0 0
Float 657 + 148 + 199 814
Other F.R. assets 32,806 - 311 + 2,101 33,492
Gold stock 11,045 + 1 - 5 11,045
Special drawing rights certificate account 9,200 0 0 9,200
Treasury currency outstanding 25,958 + 14 + 508 25,958
Total factors supplying reserve funds 532,259 - 704 + 33,504 537,606
Currency in circulation* 492,395 - 1,391 + 34,877 493,325
Treasury cash holdings* 94 + 2 - 168 93
Deposits,other than reserve balances,with F.R.Banks
Treasury 7,144 + 1,275 + 195 7,508
Foreign 165 - 11 0 166
Service-related balances and adjustments (4) 6,949 + 118 - 124 6,949
Other 370 + 12 + 5 388
Other F.R. liabilities and capital 17,168 + 169 + 985 16,952
Total factors, other than reserve balances,
absorbing reserve funds 524,284 + 174 + 35,770 525,380
Reserve balances with F.R. Banks (5) 7,975 - 878 - 2,266 12,226
On September 23, 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 558,948 million, a change of
+$ 5,113 million for the week. The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1 Net of $ 18,088 million daily average, matched sale-purchase transactions outstanding during the
latest statement week, of which a net of $ 18,088 million was with foreign official and international
accounts. Includes securities loaned--fully secured by U.S. government securities.
2 Net of $ 18,848 million matched sale-purchase transactions outstanding at the end of the latest
statement week, of which a net of $ 18,848 million was with foreign official and international
accounts. Includes $ 609 million securities loaned--fully secured U.S. government securities.
3 Includes $ 2,850 million of inflation-indexed securities valued at the original face amount and
$ 50 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Consists of required clearing balances of $ 6,701 million and adjustments of $ 248 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
Sep 23, 1998 Sep 16, 1998 Sep 24, 1997
ASSETS
Gold certificate account 11,045 0 - 5
Special drawing rights certificate account 9,200 0 0
Coin 412 + 17 - 112
Loans 185 - 18 - 197
Acceptances 0 0 0
Federal agency obligations
Bought outright 403 0 - 523
Held under repurchase agreements (1) 2,075 + 1,280 + 1,019
U.S. government securities
Bought outright--Bills 196,851 - 1,181 + 2,295
Notes (2) 182,977 + 4,149 + 21,494
Bonds (3) 65,976 0 + 10,984
Total bought outright (4) 445,804 + 2,969 + 34,774
Held under repurchase agreements (1) 8,630 - 476 - 3,889
Total U.S. government securities 454,434 + 2,493 + 30,885
Total loans and securities 457,096 + 3,755 + 31,184
Items in process of collection (421) 7,187 - 489 + 762
Bank premises 1,297 0 + 27
Other assets (5) 32,173 + 354 + 2,360
TOTAL ASSETS (421) 518,410 + 3,637 + 34,216
LIABILITIES
Federal Reserve notes 467,872 - 634 + 34,550
Deposits
Depository institutions 19,325 + 3,758 - 1,860
U.S. Treasury--general account 7,508 + 1,243 + 180
Foreign--official accounts 166 + 3 + 4
Other 388 + 30 + 22
Total deposits 27,387 + 5,034 - 1,654
Deferred availability cash items (421) 6,200 - 982 + 331
Other liabilities and accrued dividends (6) 4,762 + 222 - 229
TOTAL LIABILITIES (421) 506,220 + 3,640 + 32,997
CAPITAL ACCOUNTS
Capital paid in 5,912 - 38 + 687
Surplus 5,220 0 + 725
Other capital accounts 1,058 + 34 - 193
*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
$ 43 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
3 Includes $ 800 million of inflation-indexed securities valued at the original face amount and
$ 7 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Net of $ 18,848 million matched sale-purchase transactions outstanding at the end of the latest
statement week. Includes $ 609 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 $ 178 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, September 23, 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 173 0 Within 15 days 17,677 - 6,786 2,075 + 1,280
16 to 90 days 12 0 16 to 90 days 92,715 - 126 50 0
Over 90 days 0 0 91 days to 1 year 144,183 + 6,293 75 0
Over 1 to 5 years 104,646 + 3,111 93 0
Over 5 to 10 years 41,277 0 185 0
Over 10 years 53,936 0 0 0
Total 185 0 Total 454,434 + 2,493 2,478 + 1,280
1 Includes $ 2,850 million of inflation-indexed securities valued at the original face amount and
$ 50 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 September 23, 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 11,045 582 4,205 323 643 807 717 998 358 128 289 530 1,465
Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241
Coin 412 15 23 15 24 43 67 55 21 14 31 53 50
Loans 185 0 0 6 0 0 6 34 33 63 26 2 15
Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal agency obligations
Bought outright 403 22 149 12 26 32 24 39 14 4 11 18 51
Held under repurchase agreements(1) 2,075 0 2,075 0 0 0 0 0 0 0 0 0 0
U.S. government securities
Bought outright--Bills 196,851 10,721 72,961 5,723 12,794 15,507 11,975 18,898 6,918 2,163 5,461 8,951 24,781
Notes (2) 182,977 9,965 67,819 5,320 11,892 14,414 11,131 17,566 6,430 2,010 5,076 8,320 23,034
Bonds (3) 65,976 3,593 24,453 1,918 4,288 5,197 4,013 6,334 2,318 725 1,830 3,000 8,306
Total bought outright(4) 445,804 24,279 165,233 12,961 28,974 35,118 27,119 42,798 15,666 4,898 12,367 20,270 56,121
Held under repurchase agreements(1) 8,630 0 8,630 0 0 0 0 0 0 0 0 0 0
Total U.S. govt. securities 454,434 24,279 173,863 12,961 28,974 35,118 27,119 42,798 15,666 4,898 12,367 20,270 56,121
Total loans and securities 457,096 24,301 176,087 12,978 29,000 35,150 27,149 42,871 15,713 4,965 12,404 20,290 56,187
Items in process of collection 7,608 547 673 235 352 560 869 729 252 621 512 451 1,807
Bank premises 1,297 93 158 50 157 126 79 108 31 131 54 149 161
Other assets(5) 32,173 1,499 10,212 1,374 1,895 3,769 1,913 2,998 833 795 748 1,484 4,654
Interdistrict settlement account 0 -1,606 +21,190 -790 -4,060 -2,798 -286 -4,442 -1,969 +480 +820 + 1,932 - 8,471
TOTAL ASSETS 518,832 25,961 215,750 14,469 28,585 38,448 31,111 44,216 15,579 7,259 15,106 25,255 57,094
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
$ 43 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
3 Includes $ 800 million of inflation-indexed securities valued at the original face amount and
$ 7 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Net of $ 18,848 million matched sale-purchase transactions outstanding at the end of the latest
statement week. Includes $ 609 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 $ 178 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 September 23, 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 467,872 23,191 198,493 12,940 26,086 33,439 27,316 39,492 14,246 5,501 13,613 23,122 50,432
Deposits
Depository institutions 19,325 1,495 4,987 656 1,071 1,687 1,671 2,434 620 670 603 1,031 2,400
U.S. Treasury--general account 7,508 0 7,508 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 388 1 104 1 3 71 0 180 0 0 11 1 16
Total deposits 27,387 1,503 12,650 665 1,084 1,780 1,681 2,628 624 675 617 1,039 2,442
Deferred credit items 6,622 452 450 197 303 534 844 533 270 594 430 341 1,672
Other liabilities and accrued
dividends (1) 4,762 263 1,641 167 299 390 317 458 187 89 163 224 563
TOTAL LIABILITIES 506,641 25,409 213,235 13,969 27,772 36,143 30,157 43,111 15,328 6,859 14,823 24,727 55,109
CAPITAL ACCOUNTS
Capital paid in 5,912 268 1,186 214 398 1,158 472 546 120 200 138 235 980
Surplus 5,220 254 1,055 273 335 818 338 502 122 189 119 271 945
Other capital accounts 1,058 31 275 14 80 329 143 57 10 11 26 22 60
TOTAL LIABILITIES AND CAPITAL
ACCOUNTS 518,832 25,961 215,750 14,469 28,585 38,448 31,111 44,216 15,579 7,259 15,106 25,255 57,094
FEDERAL RESERVE AGENTS' ACCOUNTS
F.R. notes outstanding 579,127 27,942 237,124 15,974 30,414 42,430 36,244 50,297 17,235 7,340 16,345 29,752 68,030
Less--Held by F.R. Banks 111,255 4,751 38,631 3,034 4,328 8,990 8,928 10,804 2,989 1,839 2,732 6,629 17,598
F.R. notes, net 467,872 23,191 198,493 12,940 26,086 33,439 27,316 39,492 14,246 5,501 13,613 23,122 50,432
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 447,626
Total collateral 467,872
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: September 24, 1998