---

`These data are scheduled for release each Thursday.  The exact time of each release will be announced, whenthe information is available, on (202) 452-3206. H.4.1Factors Affecting Reserve Balances of Depository Institutions andCondition Statement of F.R. Banks                                                                                            October 1, 1998Millions of dollars`

|        | Averages of daily figures
|------- | -------------------------
|
|
|487,952 | +   1,875                
|        |                          
|446,239 | +   1,429                
|5,441   | -     234                
|        |                          
|403     | 0                        
|1,170   | -     350                
|0       | 0                        
|        |                          
|        |                          
|138     | +     126                
|172     | -       1                
|0       | 0                        
|842     | +     168                
|33,547  | +     739                
|11,045  | -       1                
|9,200   | 0                        
|25,972  | +      14                
|534,168 | +   1,889                
|        |                          
|492,771 | +     376                
|93      | -       1                
|        |                          
|6,989   | -     154                
|201     | +      36                
|7,012   | +      63                
|353     | -      17                
|17,206  | +      38                
|524,625 | +     341                
|        |                          
|9,543   | +   1,548                

`On September 30, 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    564,692 million, a change of  +$  5,744 million for the week.  The total includes the face value of U.S. Treasury strips and other zerocoupon bonds.1  Net of $     19,642 million daily average, matched sale-purchase transactions outstanding during the    latest statement week, of which a net of $     19,642 million was with foreign official and international   accounts.  Includes securities loaned--fully secured by U.S. government securities.2  Net of $     19,835 million matched sale-purchase transactions outstanding at the end of the latest    statement week, of which a net of $     19,835 million was with foreign official and international    accounts.  Includes $        858 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    $         51 million of compensation that adjusts for the effects of inflation on the principal of such    securities.4  Consists of required clearing balances of $      6,703 million and adjustments of $        309 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 BANKSMillions of Dollars`

|      |         |           | Change Since
|----- | ------- | --------- | ------------
|
|      | 11,044  | -       2 | -       6   
|      | 9,200   | 0         | 0           
|      | 417     | +       6 | -     108   
|      |         |           |             
|      | 1,055   | +     870 | +     751   
|      | 0       | 0         | 0           
|      |         |           |             
|      | 403     | 0         | -     463   
|      | 2,099   | +      24 | +   1,553   
|      |         |           |             
|      | 195,864 | -     987 | +     948   
|      | 184,186 | +   1,210 | +  21,048   
|      | 65,996  | +      20 | +  11,005   
|      | 446,047 | +     243 | +  33,001   
|      | 12,135  | +   3,505 | +   6,190   
|      | 458,182 | +   3,748 | +  39,191   
|      | 461,738 | +   4,642 | +  41,032   
|      |         |           |             
|(513) | 6,454   | -     733 | -     922   
|      | 1,295   | -       2 | +      27   
|      | 34,328  | +   2,155 | +   3,772   
|(513) | 524,476 | +   6,066 | +  43,795   
|      |         |           |             
|      |         |           |             
|      | 468,759 | +     887 | +  34,618   
|      |         |           |             
|      | 25,706  | +   6,381 | +   6,318   
|      | 4,952   | -   2,556 | +   1,249   
|      | 347     | +     181 | +     130   
|(0)   | 349     | -      39 | -      51   
|(0)   | 31,353  | +   3,966 | +   7,646   
|(513) | 6,711   | +     510 | -     205   
|      | 4,637   | -     124 | -     203   
|(513) | 511,460 | +   5,239 | +  41,856   
|      |         |           |             
|      |         |           |             
|      | 5,910   | -       2 | +     680   
|      | 5,220   | 0         | +     832   
|      | 1,886   | +     828 | +     427   

`*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    $         44 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 $     19,835 million matched sale-purchase transactions outstanding at the end of the latest    statement week.  Includes $        858 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 $        198 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 30, 1998Acceptances 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  securities (1) | Federal agency   obligations
|--- | ------------------------------- | ----------------------------
|
|973 | 0                               | Within 15 days              
|82  | 0                               | 16 to 90 days               
|0   | 0                               | 91 days to 1 year           
|    |                                 | Over 1 to 5 years           
|    |                                 | Over 5 to 10 years          
|    |                                 | Over 10 years               
|055 | 0                               | Total                       

`1  Includes $      2,850 million of inflation-indexed securities valued at the original face amount and    $         51 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 30, 1998Millions of dollars`

|ASSETS  | Total   | Boston  | New York | Philadelphia | Cleveland | Richmond | Atlanta | Chicago | St. Louis | Minneapolis | Kansas City | Dallas  | SanFrancisco
|------- | ------- | ------- | -------- | ------------ | --------- | -------- | ------- | ------- | --------- | ----------- | ----------- | ------- | ------------
|11,044  | 582     | 4,204   | 323      | 643          | 807       | 717      | 998     | 358     | 128       | 289         | 530         | 1,465  
|9,200   | 530     | 3,202   | 282      | 574          | 792       | 602      | 900     | 340     | 123       | 247         | 367         | 1,241  
|417     | 18      | 22      | 17       | 26           | 43        | 66       | 55      | 19      | 15        | 31          | 54          | 51     
|        |         |         |          |              |           |          |         |         |           |             |             |        
|1,055   | 0       | 0       | 1        | 0            | 30        | 340      | 551     | 33      | 50        | 34          | 1           | 16     
|0       | 0       | 0       | 0        | 0            | 0         | 0        | 0       | 0       | 0         | 0           | 0           | 0      
|        |         |         |          |              |           |          |         |         |           |             |             |        
|403     | 22      | 149     | 12       | 26           | 32        | 24       | 39      | 14      | 4         | 11          | 18          | 51     
|2,099   | 0       | 2,099   | 0        | 0            | 0         | 0        | 0       | 0       | 0         | 0           | 0           | 0      
|        |         |         |          |              |           |          |         |         |           |             |             |        
|195,864 | 10,667  | 72,595  | 5,694    | 12,730       | 15,429    | 11,915   | 18,803  | 6,883   | 2,152     | 5,433       | 8,906       | 24,657 
|184,186 | 10,031  | 68,267  | 5,355    | 11,971       | 14,509    | 11,204   | 17,682  | 6,473   | 2,023     | 5,109       | 8,375       | 23,187 
|65,996  | 3,594   | 24,461  | 1,919    | 4,289        | 5,199     | 4,015    | 6,336   | 2,319   | 725       | 1,831       | 3,001       | 8,308  
|446,047 | 24,293  | 165,323 | 12,968   | 28,990       | 35,137    | 27,133   | 42,821  | 15,675  | 4,900     | 12,374      | 20,281      | 56,152 
|12,135  | 0       | 12,135  | 0        | 0            | 0         | 0        | 0       | 0       | 0         | 0           | 0           | 0      
|458,182 | 24,293  | 177,458 | 12,968   | 28,990       | 35,137    | 27,133   | 42,821  | 15,675  | 4,900     | 12,374      | 20,281      | 56,152 
|461,738 | 24,315  | 179,706 | 12,981   | 29,016       | 35,199    | 27,497   | 43,411  | 15,721  | 4,955     | 12,419      | 20,301      | 56,218 
|        |         |         |          |              |           |          |         |         |           |             |             |        
|6,967   | 420     | 739     | 214      | 321          | 538       | 807      | 553     | 165     | 630       | 340         | 385         | 1,856  
|1,295   | 93      | 159     | 50       | 157          | 125       | 79       | 107     | 31      | 131       | 54          | 149         | 160    
|34,328  | 1,536   | 11,805  | 1,391    | 1,939        | 3,884     | 1,967    | 3,085   | 847     | 825       | 764         | 1,501       | 4,785  
|0       | - 1,974 | +20,852 | -   147  | - 3,964      | - 3,635   | -   710  | - 4,378 | - 2,047 | +   410   | + 1,129     | + 2,347     | - 7,882
|524,989 | 25,519  | 220,688 | 15,112   | 28,711       | 37,754    | 31,024   | 44,731  | 15,434  | 7,217     | 15,272      | 25,633      | 57,894 

`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    $         44 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 $     19,835 million matched sale-purchase transactions outstanding at the end of the latest    statement week.  Includes $        858 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 $        198 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 30, 1998Millions of dollars`

|LIABILITIES | Total  | Boston  | New York | Philadelphia | Cleveland | Richmond | Atlanta | Chicago | St. Louis | Minneapolis | Kansas City | Dallas | SanFrancisco
|----------- | ------ | ------- | -------- | ------------ | --------- | -------- | ------- | ------- | --------- | ----------- | ----------- | ------ | ------------
|468,759     | 23,025 | 198,669 | 12,651   | 26,110       | 33,300    | 27,541   | 40,433  | 14,213  | 5,516     | 13,776      | 23,377      | 50,148
|            |        |         |          |              |           |          |         |         |           |             |             |       
|25,706      | 1,213  | 11,812  | 1,540    | 988          | 1,011     | 1,227    | 1,904   | 469     | 523       | 669         | 1,174       | 3,175 
|4,952       | 0      | 4,952   | 0        | 0            | 0         | 0        | 0       | 0       | 0         | 0           | 0           | 0     
|347         | 7      | 232     | 8        | 9            | 22        | 9        | 14      | 3       | 5         | 3           | 7           | 26    
|348         | 1      | 105     | 1        | 1            | 24        | 2        | 199     | 2       | 0         | 9           | 1           | 3     
|31,353      | 1,222  | 17,101  | 1,548    | 999          | 1,058     | 1,238    | 2,117   | 474     | 529       | 681         | 1,182       | 3,204 
|7,224       | 420    | 670     | 207      | 445          | 544       | 932      | 539     | 297     | 658       | 359         | 288         | 1,863 
|4,637       | 257    | 1,582   | 166      | 294          | 383       | 310      | 446     | 183     | 87        | 161         | 219         | 548   
|511,972     | 24,924 | 218,022 | 14,572   | 27,848       | 35,285  ; | 30,021   | 43,535  | 15,167  | 6,790     | 14,978      | 25,066      | 55,763
|           
|            |        |         |          |              |           |          |         |         |           |             |             |       
|5,910       | 268    | 1,186   | 213      | 398          | 1,158     | 472      | 545     | 119     | 200       | 138         | 234         | 980   
|5,220       | 254    | 1,055   | 273      | 335          | 818       | 338      | 502     | 122     | 189       | 119         | 271         | 945   
|1,886       | 74     | 424     | 54       | 129          | 493       | 193      | 149     | 27      | 38        | 38          | 62          | 206   
|524,989     | 25,519 | 220,688 | 15,112   | 28,711       | 37,754    | 31,024   | 44,731  | 15,434  | 7,217     | 15,272      | 25,633      | 57,894
|            |        |         |          |              |           |          |         |         |           |             |             |        |             
|            |        |         |          |              |           |          |         |         |           |             |             |       
|580,575     | 27,855 | 237,437 | 15,888   | 30,625       | 42,392    | 36,448   | 51,304  | 17,155  | 7,313     | 16,401      | 29,830      | 67,928
|111,817     | 4,830  | 38,768  | 3,237    | 4,514        | 9,092     | 8,907    | 10,870  | 2,942   | 1,797     | 2,625       | 6,453       | 17,780
|468,759     | 23,025 | 198,669 | 12,651   | 26,110       | 33,300    | 27,541   | 40,433  | 14,213  | 5,516     | 13,776      | 23,377      | 50,148
|            |        |         |          |              |           |          |         |         |           |             |             |       
|11,044      |        |         |          |              |           |          |         |         |           |             |             |       
|9,200       |        |         |          |              |           |          |         |         |           |             |             |       
|0           |        |         |          |              |           |          |         |         |           |             |             |       
|448,515     |        |         |          |              |           |          |         |         |           |             |             |       
|468,759     |        |         |          |              |           |          |         |         |           |             |             |       

`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.`

---