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.



 H.4.1

 Factors Affecting Reserve Balances of Depository Institutions and
 Condition Statement of F.R. Banks

                                                                                               November 7, 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     Nov 6, 1996  Oct 30, 1996   Nov 8, 1995   Nov 6, 1996
 ________________________________________________________________________________________________________________
 Reserve Bank credit 1 2                                      428,121    +    2,991    +   18,412       433,039
   U.S. government securities
     Bought outright--system account                          386,486    -      154    +   14,987       387,367
     Held under repurchase agreements                           4,904    +    2,653    +    3,477         7,270
   Federal agency obligations
     Bought outright                                            2,247    -        2    -      565         2,247
     Held under repurchase agreements                           1,874    +      222    +    1,483         2,375
   Acceptances                                                      0             0             0             0
   Loans to depository institutions
     Adjustment credit                                              9    +        5    +        7             3
     Seasonal credit                                              126    -       55    +       42           110
     Extended credit                                                0             0             0             0
   Float                                                          501    +      102    -      392         1,349
   Other F.R. assets                                           31,974    +      221    -      628        32,318
 Gold stock                                                    11,049             0    -        1        11,049
 Special drawing rights certificate account                     9,718             0    -      450         9,718
 Treasury currency outstanding                                 24,836    +       14    +      967        24,836
                                                         --------------------------------------------------------
         Total factors supplying reserve funds                473,725    +    3,005    +   18,928       478,643

 Currency in circulation*                                     433,764    +    1,562    +   21,765       435,668
 Treasury cash holdings*                                          280    -        1    -       13           278
 Deposits, other than reserve balances, with F.R. Banks
   Treasury                                                     5,013    -      215    +       65         5,774
   Foreign                                                        170    -       12    -       30           166
   Service-related balances and adjustments 3                   7,006    +      338    +    1,571         7,006
   Other                                                          370    -        8    +       27           362
 Other F.R. liabilities and capital                            14,060    -       86    +    1,185        13,866
                                                         --------------------------------------------------------
         Total factors, other than reserve balances,
         absorbing reserve funds                              460,663    +    1,578    +   24,569       463,119

 Reserve balances with F.R. Banks 4                            13,062    +    1,427    -    5,642        15,524
 ----------------------------------------------------------------------------------------------------------------
 On    November 6, 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 $     600,971 million, a change of + $     4,835 million for the week.  The total includes the face
 value of U.S. Treasury strips and other zero coupon bonds.
 1 Net of $    12,625 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which
   a net of $    12,625 million was with foreign official and international accounts.  Includes securities loaned--fully secured by U.S.
   government securities.
 2 Net of $    11,745 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of
   $    11,745 million was with foreign official and international accounts.  Includes $       120 million securities loaned--fully
   secured U.S. government securities.
 3 Consists of required clearing balances of $     6,518 million and adjustments of $       488 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
                                                                    Nov 6, 1996    Oct 30, 1996     Nov 8, 1995
                                                 ----------------------------------------------------------------
                     ASSETS
 Gold certificate account                                               11,049               0      -        1
 Special drawing rights certificate account                              9,718               0      -      450
 Coin                                                                      618      +        3      +      154

 Loans                                                                     113      -       72      +       43
 Acceptances                                                                 0               0               0
 Federal agency obligations
   Bought outright                                                       2,247               0      -      565
   Held under repurchase agreements 1                                    2,375      +      255      +    1,388
 U.S. government securities
   Bought outright--Bills                                              187,106      -      219      +    6,021
                    Notes                                              152,392               0      +    4,574
                    Bonds                                               47,869               0      +    5,196
                                                                    ----------      ----------      ----------
     Total bought outright 2                                           387,367      -      219      +   15,791
   Held under repurchase agreements 1                                    7,270      +    4,590      +    1,839
                                                                    ----------      ----------      ----------
       Total U.S. government securities                                394,637      +    4,371      +   17,630
                                                                    ----------      ----------      ----------
         Total loans and securities                                    399,372      +    4,554      +   18,496

 Items in process of collection                          (401)           7,748      +    1,290      +    1,441
 Bank premises                                                           1,216      +        2      +       71
 Other assets 3                                                         31,225      +      355      -      812
                                                                    ----------      ----------      ----------
           TOTAL ASSETS                                  (401)         460,946      +    6,204      +   18,899

                   LIABILITIES
 Federal Reserve notes                                                 411,728      +    2,274      +   21,368
 Deposits
   Depository institutions                                              23,001      +    2,961      -    5,025
   U.S. Treasury--general account                                        5,774      +      386      +      742
   Foreign--official accounts                                              166      +        1      -        2
   Other                                                                   362      +       32      +       17
                                                                    ----------      ----------      ----------
     Total deposits                                                     29,303      +    3,380      -    4,268
 Deferred availability cash items                        (401)           6,050      +      568      +      648
 Other liabilities and accrued dividends 4                               4,443      -       32      +       41
                                                                    ----------      ----------      ----------
           TOTAL LIABILITIES                             (401)         451,523      +    6,190      +   17,790

                CAPITAL ACCOUNTS
 Capital paid in                                                         4,577      +       12      +      635
 Surplus                                                                 3,860               0      +      177
 Other capital accounts                                                    986      +        2      +      297
 ----------------------------------------------------------------------------------------------------------------
 * 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 $    11,745 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes
   $       120 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 $       146 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, NOVEMBER 6, 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              22          0  Within 15 days                27,714 +    8,778      2,375 +      101
 16 days to 90 days          91          0  16 days to 90 days            83,344 -    5,402        967 +      161
 Over 90 days                 0          0  91 days to 1 year            113,893 +      467        268 -        7
                                            Over 1 year to 5 years        95,303 +      528        520          0
                                            Over 5 years to 10 years      34,028          0        467          0
                                            Over 10 years                 40,356          0         25          0
                     ---------- ----------                            ---------- ---------- ---------- ----------
   Total                    113          0    Total                      394,637 +    4,371      4,622 +      255
 ----------------------------------------------------------------------------------------------------------------
 Components may not add to totals due to rounding.
1

 H.4.1 (b)

 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 6, 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                                        618       18        24        45      30     109      90        67      28        20      58      53        75

 Loans                                       113        0         0         0       0       1       0        14      22        52      19       5         0
 Acceptances                                   0        0         0         0       0       0       0         0       0         0       0       0         0
 Federal agency obligations
   Bought outright                         2,247      132       836        87     132     186     150       243     105        34      70      80       190
   Held under repurchase agreements 1      2,375        0     2,375         0       0       0       0         0       0         0       0       0         0
 U.S. government securities
   Bought outright--Bills                187,106   11,009    69,584     7,242  10,997  15,516  12,487    20,277   8,765     2,822   5,861   6,700    15,847
                    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             387,367   22,792   144,060    14,992  22,768  32,122  25,851    41,980  18,147     5,842  12,134  13,871    32,809
   Held under repurchase agreements 1      7,270        0     7,270         0       0       0       0         0       0         0       0       0         0
                                    -----------------------------------------------------------------------------------------------------------------------
       Total U.S. govt. securities       394,637   22,792   151,330    14,992  22,768  32,122  25,851    41,980  18,147     5,842  12,134  13,871    32,809
                                    -----------------------------------------------------------------------------------------------------------------------
         Total loans and securities      399,372   22,924   154,540    15,079  22,900  32,309  26,001    42,238  18,274     5,928  12,223  13,956    32,999

 Items in process of collection            8,150      487     1,122       431     360     654     880       776     298       571     551     569     1,450
 Bank premises                             1,216       94       147        48     103     128      82       110      30       103      55     155       161
 Other assets 3                           31,225    1,433    10,199     1,334   1,864   2,404   2,621     3,559     944       656   1,076   1,595     3,541
 Interdistrict settlement account              0   +1,832   -29,199    -2,579  +6,431  +5,547     +56    +1,566  -2,304      -807    -514  -1,512   +21,483
                                    -----------------------------------------------------------------------------------------------------------------------
           TOTAL ASSETS                  461,347   28,085   144,268    15,178  32,854  42,906  31,243    50,434  18,163     6,783  14,052  15,648    61,732
                                    -----------------------------------------------------------------------------------------------------------------------
 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 $    11,745 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $       120 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
   $       146 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 NOVEMBER 6, 1996
 Millions of dollars
 ----------------------------------------------------------------------------------------------------------------------------------------------------------
                                    |   Total   | Boston | New York|  Phila. | Cleve.| Rich. |Atlanta| Chicago |S.Louis| Minneap.|KansasC| Dallas|San Fran.
                                    -----------------------------------------------------------------------------------------------------------------------
        LIABILITIES
 Federal Reserve notes                   411,728   25,022   129,364    13,542  30,798  39,184  27,501    44,635  16,619     5,355  12,267  12,806    54,635
 Deposits
   Depository institutions                23,001    2,012     4,302       766     947   1,995   1,747     3,487     854       543     911   1,854     3,583
   U.S. Treasury--general account          5,774        0     5,774         0       0       0       0         0       0         0       0       0         0
   Foreign--official accounts                166        6        61         7       9      11      14        17       4         4       5       9        20
   Other                                     362        1       113         1       1      89       4       147       0         1       1       1         2
                                    -----------------------------------------------------------------------------------------------------------------------
     Total deposits                       29,303    2,019    10,250       774     958   2,094   1,766     3,651     858       547     918   1,864     3,605
 Deferred credit items                     6,451      428       813       218     249     612     799       570     231       572     336     290     1,334
 Other liabilities and accrued
   dividends 1                             4,443      259     1,545       190     257     358     315       472     209        97     170     179       392
                                    -----------------------------------------------------------------------------------------------------------------------
     TOTAL LIABILITIES                   451,924   27,727   141,971    14,724  32,261  42,248  30,381    49,328  17,917     6,571  13,692  15,138    59,966

        CAPITAL ACCOUNTS
 Capital paid in                           4,577      170     1,094       224     290     313     423       541     114       105     176     253       875
 Surplus                                   3,860      166     1,028       185     252     284     379       460      95        96     148     240       527
 Other capital accounts                      986       22       174        45      52      62      61       105      37        10      36      18       364
                                    -----------------------------------------------------------------------------------------------------------------------
       ACCOUNTS                          461,347   28,085   144,268    15,178  32,854  42,906  31,243    50,434  18,163     6,783  14,052  15,648    61,732

 ----------------------------------------------------------------------------------------------------------------------------------------------------------
 FEDERAL RESERVE AGENTS' ACCOUNTS

 F.R. notes outstanding                  530,703   30,438   181,537    16,282  33,706  46,670  35,373    53,081  20,015     7,014  14,322  21,483    70,782
   Less--Held by F.R. Banks              118,975    5,417    52,173     2,739   2,908   7,486   7,872     8,446   3,396     1,659   2,055   8,677    16,147
                                    -----------------------------------------------------------------------------------------------------------------------
   F.R. notes, net                       411,728   25,022   129,364    13,542  30,798  39,184  27,501    44,635  16,619     5,355  12,267  12,806    54,635
 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      390,960
                                     ------------
     Total collateral                    411,728
                                    -----------------------------------------------------------------------------------------------------------------------
 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.