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`1    ________________________________________________________________________________________________________________ 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.`

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|------------- | -------------
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|              |              
|              |              
|              |              
|              |              
|_____________ | _____________
|Ave           | rages of dail
|Week ende     | d     Change 
|Oct14, 19     | 98   Oct7, 1 
|_____________ | _____________
|488,65        | 5    +      2
|              |              
|447,67        | 3    +      9
|2,67          | 2    -    1,0
|              |              
|40            | 0    -       
|3,07          | 7    +      2
|              | 0            
|              |              
|3             | 1    -      2
|11            | 0    -       
|              | 0            
|57            | 5    +      2
|34,11         | 6    +       
|11,04         | 4            
|9,20          | 0            
|26,00         | 0    +       
|-----------   | -------------
|534,89        | 8    +      2
|497,31        | 1    +    3,4
|9             | 2            
|              |              

`Treasury                                                     5,480    -      300    +      370         4,895   Foreign                                                        321    +      127    +      145           189   Service-related balances and adjustments 3                   7,057    +       98    +       51         7,057   Other                                                          417    -        6    +       35           397 Other F.R. liabilities and capital                            17,078    -      603    +    1,236        16,878                                                         --------------------------------------------------------         Total factors, other than reserve balances,         absorbing reserve funds                              527,755    +    2,717    +   37,231       527,959  Reserve balances with F.R. Banks 4                             7,143    -    2,503    -    2,088         9,593 ---------------------------------------------------------------------------------------------------------------- On    October 14, 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 $     571,910 million, a change of + $     2,894 million for the week.  The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $    19,268 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which   a net of $    19,268 million was with foreign official and international accounts.  Includes securities loaned--fully secured by U.S.   government securities. 2 Net of $    19,255 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of   $    19,255 million was with foreign official and international accounts.  Includes $       599 million securities loaned--fully   secured U.S. government securities. 3 Consists of required clearing balances of $     6,667 million and adjustments of $       390 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`

|             |               |                   |                  
|------------ | ------------- | ----------------- | -----------------
|
|             |               |                   |                  
|DERAL RESERV | E BANKS       |                   |                  
|             |               |                   |                  
|------------ | ------------- | ----------------- | -----------------
|             |               |                   | Change since     
|*            | We            | dnesday       Wed | nesday       Wedn
|             |               |                   |                  
|---------    | ------------- | ----------------- | -----------------
|             |               |                   |                  
|             |               | 11,044            | 0      -         
|             |               | 9,200             | 0                
|             |               | 411      +        | 2      -         
|             |               |                   |                  
|             |               | 210      +        | 80      -        
|             |               | 0                 | 0                
|             |               |                   |                  
|             |               | 388      -        | 15      -        
|             |               |                   |                  
|             |               |                   |                  
|             |               | 196,445      +    | 229      +       
|             |               | 184,188      +    | 1      +   2     
|             |               | 67,054            | 0      +   1     
|             |               |                   |                  
|             |               |                   |                  
|             |               | 2,045      -      | 2,493      -     
|             | ---           | -------      ---- | ------      -----
|             |               | 449,732      -    | 2,264      +   2 
|             | ---           | -------      ---- | ------      -----
|             |               | 454,899      -    | 469      +   3   
|             |               |                   |                  
|(            | 505)          | 11,600      +     | 3,560      -     
|             |               | 1,296             | 0      +         
|             |               | 32,999      +     | 90      +        
|             | ---           | -------      ---- | ------      -----
|(            | 505)          | 521,449      +    | 3,183      +   3 
|             |               |                   |                  
|             |               |                   |                  
|             |               | 472,955      +    | 2,574      +   3 
|             |               |                   |                  

`U.S. Treasury--general account                                        4,895      -      396      -      279   Foreign--official accounts                                              189      -        7      +       25   Other                                                                   397      -       29      +       17                                                                    ----------      ----------      ----------     Total deposits                                                     21,861      -    2,004      -    2,961 Deferred availability cash items                        (505)           9,755      +    2,632      -      295 Other liabilities and accrued dividends 4                               4,451      -       55      -      231                                                                    ----------      ----------      ----------           TOTAL LIABILITIES                             (505)         509,022      +    3,147      +   31,396                 CAPITAL ACCOUNTS Capital paid in                                                         5,915               0      +      663 Surplus                                                                 5,220               0      +      832 Other capital accounts                                                  1,292      +       35      +       15 ---------------------------------------------------------------------------------------------------------------- * 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 $    19,255 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes   $       599 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 $       170 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.`

|     |    |                    
|---- | -- | -------------------
|
|OF   | S  | ITIES, OCTOBER 14, 
|itie | de | purchase agreements
|um m | f  | agreements.        
|     |    |                    
|---- | -- | -------------------
|     |    |                    
|     |    |                    

`Loans    Acceptances                                        Weekly               Weekly                                                                       Holdings    changes   Holdings   changes ---------------------------------------------------------------------------------------------------------------- Within 15 days             113          0  Within 15 days                17,052 +    3,814      4,570 +    1,730 16 days to 90 days          97          0  16 days to 90 days            93,953 +      162         50          0 Over 90 days                 0          0  91 days to 1 year            136,315 -    6,240         85          0                                            Over 1 year to 5 years       105,789          0         68 -       15                                            Over 5 years to 10 years      41,629          0        185          0                                            Over 10 years                 54,994          0          0          0                     ---------- ----------                            ---------- ---------- ---------- ----------`

|ts may      | ------      | ------      | --------    | ------------ | ---------   | --------    | --          |             |             |     |  |  | 
|----------- | ----------- | ----------- | ----------- | ------------ | ----------- | ----------- | ----------- | ----------- | ----------- | --- |  |  | 
|            |             |             |             |              |             |             |             |             |             |     |  | 
|            |             |             |             |              |             |             |             |             |             |     |  | 
|            |             |             |             |              |             |             |             |             |             |     |  | 
|            |             |             |             |              |             |             |             |             |             |     |  | 
|SERVE BANK  | ON OCTOBER  | 14, 1998    |             |              |             |             |             |             |             |     |  | 
|            |             |             |             |              |             |             |             |             |             |     |  | 
|            |             |             |             |              |             |             |             |             |             |     |  | 
|tal   | Bos | ton | New Y | ork|  Phila | . | Cleve.| | Rich. |Atl   | anta| Chica | go |S.Louis | | Minneap.| | KansasC| Da | llas|San Fr | an. |  | 
|----------- | ----------- | ----------- | ----------- | -----------  | ----------- | ----------- | ----------- | ----------- | ----------- | --- |  | 
|            |             |             |             |              |             |             |             |             |             |     |  | 
|11,044      | 582     4,  | 204       3 | 23     643  | 807          | 717         | 998     358 | 128         | 289         | 530     1,  | 465 |  | 
|9,200       | 530     3,  | 202       2 | 82     574  | 792          | 602         | 900     340 | 123         | 247         | 367     1,  | 241 |  | 
|411         | 19          | 19          | 16      21  | 44           | 66          | 58      20  | 15          | 31          | 52          | 51  |  | 
|            |             |             |             |              |             |             |             |             |             |     |  | 
|210         | 0           | 0           | 0       0   | 0            | 3           | 14      22  | 40          | 27          | 1           | 104 |  | 
|0           | 0           | 0           | 0       0   | 0            | 0           | 0       0   | 0           | 0           | 0           | 0   |  | 
|            |             |             |             |              |             |             |             |             |             |     |  | 
|388         | 21          | 144         | 11      25  | 31           | 24          | 37      14  | 4           | 11          | 18          | 49  |  | 
|4,570       | 0     4,    | 570         | 0       0   | 0            | 0           | 0       0   | 0           | 0           | 0           | 0   |  | 
|            |             |             |             |              |             |             |             |             |             |     |  | 
|96,445   10 | ,699    72, | 810     5,7 | 11  12,767  | 15,475  11   | ,950    18, | 859   6,903 | 2,158       | 5,449   8   | ,932    24, | 730 |  | 
|84,188   10 | ,031    68, | 267     5,3 | 55  11,971  | 14,509  11   | ,204    17, | 682   6,473 | 2,023       | 5,109   8   | ,375    23, | 187 |  | 
|67,054    3 | ,652    24, | 853     1,9 | 50   4,358  | 5,282   4    | ,079     6, | 437   2,356 | 737         | 1,860   3   | ,049     8, | 441 |  | 

`-----------------------------------------------------------------------------------------------------------------------     Total bought outright 2             447,687   24,382   165,931    13,016  29,096  35,266  27,233    42,979  15,732     4,918  12,419  20,356    56,358   Held under repurchase agreements 1      2,045        0     2,045         0       0       0       0         0       0         0       0       0         0                                    -----------------------------------------------------------------------------------------------------------------------       Total U.S. govt. securities       449,732   24,382   167,976    13,016  29,096  35,266  27,233    42,979  15,732     4,918  12,419  20,356    56,358                                    -----------------------------------------------------------------------------------------------------------------------         Total loans and securities      454,899   24,403   172,689    13,027  29,122  35,297  27,260    43,029  15,767     4,963  12,456  20,375    56,511  Items in process of collection           12,105      718     1,368       684     798     879   1,232       768     450       981     814     600     2,813 Bank premises                             1,296       93       159        50     157     125      79       107      31       131      54     149       160 Other assets 3                           32,999    1,594     9,758     1,425   2,013   3,972   2,040     3,165     886       838     794   1,553     4,958 Interdistrict settlement account              0   -2,622   +22,043    -1,137  -4,498  -3,629    -746    -1,547  -2,127      +287    +902  +2,414    -9,342                                    -----------------------------------------------------------------------------------------------------------------------           TOTAL ASSETS                  521,954   25,317   213,442    14,671  28,830  38,288  31,250    47,478  15,726     7,465  15,588  26,041    57,858                                    ----------------------------------------------------------------------------------------------------------------------- 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 $    19,255 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $       599 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   $       170 million in Treasury bills maturing within 90 days.`

|                       |             |             |             |             |              |             |             |             |             |    |  |  | 
|---------------------- | ----------- | ----------- | ----------- | ----------- | ------------ | ----------- | ----------- | ----------- | ----------- | -- |  |  | 
|                       |             |             |             |             |              |             |             |             |             |    |  | 
|                       |             |             |             |             |              |             |             |             |             |    |  | 
|ERVE BANK O            | N OCTOBER 1 | 4, 1998     |             |             |              |             |             |             |             |    |  | 
|                       |             |             |             |             |              |             |             |             |             |    |  | 
|-----------            | ----------- | ----------- | ----------- | ----------- | -----------  | ----------- | ----------- | ----------- | ----------- | -- |  | 
|al   | Bost            | on | New Yo | rk|  Phila. | | Cleve.|   | Rich. |Atla | nta| Chicag  | o |S.Louis| | Minneap.|K  | ansasC| Dal | las|San Fra | n. |  | 
|-----------            | ----------- | ----------- | ----------- | ----------- | -----------  | ----------- | ----------- | ----------- | ----------- | -- |  | 
|                       |             |             |             |             |              |             |             |             |             |    |  | 
|                       |             |             |             |             |              |             |             |             |             |    |  | 
|6,380                  | 856     3,6 | 69       78 | 3   1,201   | 875   1,    | 481     2,6; | 76     590  | 556         | 482   1,    | 224     1,9 | 86 |  | 
|                      
|189                    | 7           | 74          | 8       9   | 22          | 9            | 14       3  | 5           | 3           | 7           | 26 |  | 
|397                    | 3       1   | 06          | 1       3   | 98          | 3       1    | 72       0  | 0           | 8           | 1           | 3  |  | 
|-----------            | ----------- | ----------- | ----------- | ----------- | -----------  | ----------- | ----------- | ----------- | ----------- | -- |  | 
|1,861                  | 866     8,7 | 44       79 | 2   1,213   | 996   1,    | 494     2,8  | 62     594  | 561         | 494   1,    | 232     2,0 | 15 |  | 
|                       |             |             |             |             |              |             |             |             |             |    |  | 
|                       |             |             |             |             |              |             |             |             |             |    |  |  | 
|-----------            | ----------- | ----------- | ----------- | ----------- | -----------  | ----------- | ----------- | ----------- | ----------- | -- |  | 
|                       |             |             |             |             |              |             |             |             |             |    |  | 
|                       |             |             |             |             |              |             |             |             |             |    |  | 
|5,915                  | 268     1,1 | 86       21 | 3     398   | 1,161       | 472       5  | 46     120  | 200         | 138         | 234       9 | 80 |  | 
|                       |             |             |             |             |              |             |             |             |             |    |  | 
|1,292                  |             |             |             |             |              |             |             |             |             |    |  | 
|-----------1,954   25, |             |             |             |             |              |             |             |             |             |    |  | 
|                       |             |             |             |             |              |             |             |             |             |    |  | 
|-----------            |             |             |             |             |              |             |             |             |             |    |  | 
|                       |             |             |             |             |              |             |             |             |             |    |  | 

`F.R. notes outstanding                  585,227   27,815   239,803    16,056  30,631  42,345  36,686    52,981  17,024     7,292  16,688  29,886    68,019   Less--Held by F.R. Banks              112,272    4,698    40,251     3,144   4,517   8,690   9,308    10,672   2,727     1,746   2,656   6,312    17,550                                    -----------------------------------------------------------------------------------------------------------------------`

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