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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

                                                                                               October 17, 1996
 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    Oct 16, 1996   Oct 9, 1996  Oct 18, 1995  Oct 16, 1996
 ________________________________________________________________________________________________________________
 Reserve Bank credit 1 2                                      427,967    +    3,791    +   16,111       427,227
   U.S. government securities
     Bought outright--system account                          387,116    -      177    +   15,756       387,055
     Held under repurchase agreements                           3,945    +    1,898    -      167         1,255
   Federal agency obligations
     Bought outright                                            2,309             0    -      586         2,309
     Held under repurchase agreements                           1,624    +    1,086    +    1,224           824
   Acceptances                                                      0             0             0             0
   Loans to depository institutions
     Adjustment credit                                            158    +      141    +      136           704
     Seasonal credit                                              213    -       34    -        4           205
     Extended credit                                                0             0             0             0
   Float                                                          965    +      568    +      584         3,453
   Other F.R. assets                                           31,637    +      308    -      832        31,421
 Gold stock                                                    11,049             0    -        1        11,049
 Special drawing rights certificate account                     9,718             0    -      450         9,718
 Treasury currency outstanding                                 24,721    +       14    +      910        24,721
                                                         --------------------------------------------------------
         Total factors supplying reserve funds                473,455    +    3,804    +   16,569       472,716

 Currency in circulation*                                     433,818    +    2,016    +   21,304       434,604
 Treasury cash holdings*                                          292    -        1    -       21           281
 Deposits, other than reserve balances, with F.R. Banks
   Treasury                                                     4,885    +      356    -       56         3,594
   Foreign                                                        178    +       10    -        3           165
   Service-related balances and adjustments 3                   6,800    +      317    +    1,971         6,800
   Other                                                          381    +       11    -      165           366
 Other F.R. liabilities and capital                            13,834    +      324    +    1,021        13,660
                                                         --------------------------------------------------------
         Total factors, other than reserve balances,
         absorbing reserve funds                              460,189    +    3,033    +   24,051       459,470

 Reserve balances with F.R. Banks 4                            13,267    +      771    -    7,482        13,245
 ----------------------------------------------------------------------------------------------------------------
 On    October 16, 1996, the face amount of marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign
 official and international accounts was $     592,665 million, a change of + $     4,599 million for the week.  The total includes the face
 value of U.S. Treasury strips and other zero coupon bonds.
 1 Net of $    11,995 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which
   a net of $    11,995 million was with foreign official and international accounts.  Includes securities loaned--fully secured by U.S.
   government securities.
 2 Net of $    12,056 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of
   $    12,056 million was with foreign official and international accounts.  Includes $         0 million securities loaned--fully
   secured U.S. government securities.
 3 Consists of required clearing balances of $     6,523 million and adjustments of $       277 million to compensate for float.
 4 Excludes required clearing balances and adjustments to compensate for float.

 * Estimated (Treasury's figures).
 Components may not add to totals due to rounding.
1


 Worksheet for H.4.1 (a)


 CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS
 Millions of dollars
 ----------------------------------------------------------------------------------------------------------------
                                                                                           Change since
                                                        *            Wednesday       Wednesday       Wednesday
                                                                   Oct 16, 1996     Oct 9, 1996    Oct 18, 1995
                                                 ----------------------------------------------------------------
                     ASSETS
 Gold certificate account                                               11,049               0      -        1
 Special drawing rights certificate account                              9,718               0      -      450
 Coin                                                                      610      +        3      +      159

 Loans                                                                     909      +      655      +      688
 Acceptances                                                                 0               0               0
 Federal agency obligations
   Bought outright                                                       2,309               0      -      586
   Held under repurchase agreements 1                                      824      -      280      +      424
 U.S. government securities
   Bought outright--Bills                                              186,795      -      528      +    5,906
                    Notes                                              152,392               0      +    4,974
                    Bonds                                               47,869               0      +    5,196
                                                                    ----------      ----------      ----------
     Total bought outright 2                                           387,055      -      528      +   16,076
   Held under repurchase agreements 1                                    1,255      -    4,941      -    2,857
                                                                    ----------      ----------      ----------
       Total U.S. government securities                                388,310      -    5,469      +   13,219
                                                                    ----------      ----------      ----------
         Total loans and securities                                    392,353      -    5,094      +   13,745

 Items in process of collection                          (436)          12,717      +    5,786      +    7,249
 Bank premises                                                           1,213      +        6      +       95
 Other assets 3                                                         30,370      -       56      -      860
                                                                    ----------      ----------      ----------
           TOTAL ASSETS                                  (436)         458,030      +      645      +   19,936

                   LIABILITIES
 Federal Reserve notes                                                 410,774      +    1,191      +   21,316
 Deposits
   Depository institutions                                              20,351      -    2,776      -    4,321
   U.S. Treasury--general account                                        3,594      -    1,129      -    2,117
   Foreign--official accounts                                              165               0      +        3
   Other                                                                   366      +        3      +       17
                                                                    ----------      ----------      ----------
     Total deposits                                                     24,475      -    3,902      -    6,418
 Deferred availability cash items                        (436)           9,120      +    3,359      +    3,940
 Other liabilities and accrued dividends 4                               4,271      -      140               0
                                                                    ----------      ----------      ----------
           TOTAL LIABILITIES                             (436)         448,640      +      508      +   18,838

                CAPITAL ACCOUNTS
 Capital paid in                                                         4,533      +        1      +      610
 Surplus                                                                 3,860               0      +      177
 Other capital accounts                                                    997      +      136      +      311
 ----------------------------------------------------------------------------------------------------------------
 * 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 Net of $    12,056 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes
   $         0 million securities loaned--fully secured by U.S. government securities.
 3 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account
   at Chicago of $       152 million in Treasury bills maturing within 90 days.
 4 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, OCTOBER 16, 1996
 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
                                                                           securities           obligations
                                                                     --------------------------------------------
                       Loans    Acceptances                                        Weekly               Weekly
                                                                       Holdings    changes   Holdings   changes
 ----------------------------------------------------------------------------------------------------------------
 Within 15 days             827          0  Within 15 days                15,436 -    4,424        887 -      367
 16 days to 90 days          82          0  16 days to 90 days            93,933 +    3,480        943 +      147
 Over 90 days                 0          0  91 days to 1 year            109,782 -    4,144        277 -      155
                                            Over 1 year to 5 years        94,775 -      756        535 +       95
                                            Over 5 years to 10 years      34,028 +      375        467          0
                                            Over 10 years                 40,356          0         25          0
                     ---------- ----------                            ---------- ---------- ---------- ----------
   Total                    909          0    Total                      388,310 -    5,469      3,133 -      280
 ----------------------------------------------------------------------------------------------------------------
 Components may not add to totals due to rounding.
1

 H.4.1 (b)

 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 16, 1996
 Millions of dollars
 ----------------------------------------------------------------------------------------------------------------------------------------------------------
                                    |   Total   | Boston | New York|  Phila. | Cleve.| Rich. |Atlanta| Chicago |S.Louis| Minneap.|KansasC| Dallas|San Fran.
                                    -----------------------------------------------------------------------------------------------------------------------
           ASSETS
 Gold certificate account                 11,049      661     4,050       423     624     919     769     1,140     474       168     321     433     1,067
 Special drawing rights certif. acct.      9,718      636     3,385       396     543     835     745       979     419       144     280     399       957
 Coin                                        610       16        22        41      30     107      88        68      29        20      64      52        74

 Loans                                       909        0         0         0       0       3       2        35      43        89      30       5       702
 Acceptances                                   0        0         0         0       0       0       0         0       0         0       0       0         0
 Federal agency obligations
   Bought outright                         2,309      136       859        89     136     192     154       250     108        35      72      83       196
   Held under repurchase agreements 1        824        0       824         0       0       0       0         0       0         0       0       0         0
 U.S. government securities
   Bought outright--Bills                186,795   10,991    69,468     7,230  10,979  15,490  12,466    20,243   8,751     2,817   5,851   6,689    15,821
                    Notes                152,392    8,966    56,674     5,898   8,957  12,637  10,170    16,515   7,139     2,298   4,773   5,457    12,907
                    Bonds                 47,869    2,817    17,802     1,853   2,814   3,969   3,195     5,188   2,242       722   1,499   1,714     4,054
                                    -----------------------------------------------------------------------------------------------------------------------
     Total bought outright 2             387,055   22,774   143,944    14,980  22,749  32,096  25,830    41,946  18,132     5,838  12,124  13,860    32,782
   Held under repurchase agreements 1      1,255        0     1,255         0       0       0       0         0       0         0       0       0         0
                                    -----------------------------------------------------------------------------------------------------------------------
       Total U.S. govt. securities       388,310   22,774   145,199    14,980  22,749  32,096  25,830    41,946  18,132     5,838  12,124  13,860    32,782
                                    -----------------------------------------------------------------------------------------------------------------------
         Total loans and securities      392,353   22,910   146,882    15,070  22,885  32,291  25,987    42,232  18,284     5,962  12,226  13,947    33,680

 Items in process of collection           13,153      677     2,213       776     600     901   1,408     1,198     639       946     636     754     2,406
 Bank premises                             1,213       94       147        48     101     128      82       110      30       103      55     155       160
 Other assets 3                           30,370    1,398     9,569     1,312   1,925   2,364   2,595     3,507     920       645   1,061   1,575     3,498
 Interdistrict settlement account              0   +1,174   -25,611    -2,423  +6,146  +5,107    +715      +621  -2,620      -926    -657  -2,195   +20,670
                                    -----------------------------------------------------------------------------------------------------------------------
           TOTAL ASSETS                  458,467   27,565   140,657    15,643  32,853  42,651  32,388    49,855  18,176     7,061  13,986  15,119    62,512
                                    -----------------------------------------------------------------------------------------------------------------------
 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 Net of $    12,056 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $         0 million
   securities loaned--fully secured by U.S. government securities.
 3 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of
   $       152 million in Treasury bills maturing within 90 days.

 Components may not add to totals due to rounding.
1

 H.4.1 (c)

 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 16, 1996
 Millions of dollars
 ----------------------------------------------------------------------------------------------------------------------------------------------------------
                                    |   Total   | Boston | New York|  Phila. | Cleve.| Rich. |Atlanta| Chicago |S.Louis| Minneap.|KansasC| Dallas|San Fran.
                                    -----------------------------------------------------------------------------------------------------------------------
        LIABILITIES
 Federal Reserve notes                   410,774   24,743   127,079    13,649  31,006  39,378  28,469    45,256  16,681     5,484  12,289  12,130    54,611
 Deposits
   Depository institutions                20,351    1,665     4,805       936     573   1,319   1,692     2,013     597       426     613   1,885     3,830
   U.S. Treasury--general account          3,594        0     3,594         0       0       0       0         0       0         0       0       0         0
   Foreign--official accounts                165        6        60         7       9      11      14        17       4         4       5       9        20
   Other                                     366        0       111         1       3      86       3       153       2         1       1       1         3
                                    -----------------------------------------------------------------------------------------------------------------------
     Total deposits                       24,475    1,671     8,569       944     585   1,416   1,709     2,183     602       430     620   1,894     3,853
 Deferred credit items                     9,557      542     1,264       406     407     859   1,035       839     443       841     551     408     1,960
 Other liabilities and accrued
   dividends 1                             4,271      255     1,431       187     256     354     308       461     205        97     166     173       379
                                    -----------------------------------------------------------------------------------------------------------------------
     TOTAL LIABILITIES                   449,077   27,211   138,344    15,186  32,254  42,006  31,520    48,739  17,930     6,852  13,625  14,605    60,803

        CAPITAL ACCOUNTS
 Capital paid in                           4,533      167     1,085       222     290     312     426       540     114       103     176     253       844
 Surplus                                   3,860      166     1,028       185     252     284     379       460      95        96     148     240       527
 Other capital accounts                      997       20       200        49      58      49      63       115      37        10      38      21       337
                                    -----------------------------------------------------------------------------------------------------------------------
       ACCOUNTS                          458,467   27,565   140,657    15,643  32,853  42,651  32,388    49,855  18,176     7,061  13,986  15,119    62,512

 ----------------------------------------------------------------------------------------------------------------------------------------------------------
 FEDERAL RESERVE AGENTS' ACCOUNTS

 F.R. notes outstanding                  531,563   30,266   179,472    16,329  34,117  47,263  35,920    53,733  20,361     6,935  14,411  21,669    71,088
   Less--Held by F.R. Banks              120,789    5,523    52,393     2,680   3,112   7,885   7,451     8,477   3,681     1,451   2,122   9,539    16,476
                                    -----------------------------------------------------------------------------------------------------------------------
   F.R. notes, net                       410,774   24,743   127,079    13,649  31,006  39,378  28,469    45,256  16,681     5,484  12,289  12,130    54,611
 Collateral held against F.R. notes
   Gold certificate account               11,049
   Special drawing rights
     certificate account                   9,718
   Other eligible assets                       0
   U.S. govt. and agency securities      390,007
                                     ------------
     Total collateral                    410,774
                                    -----------------------------------------------------------------------------------------------------------------------
 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.