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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
                                                                                          November 28, 1997
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 26, 1997 Nov 19, 1997 Nov 27, 1996 Nov 26, 1997

Reserve Bank Credit  (1,2)                                  460,748    -      98    +  29,931      463,958
  U.S. government securities			        		      		     		   
    Bought outright-system account (3)                      419,912    +   2,463    +  25,791      420,418
    Held under repurchase agreements                          7,401    -     173    +   4,813       12,021
  Federal agency obligations			        		      		     		   
    Bought outright                                             685            0    -   1,558          685
    Held under repurchase agreements                          1,735    +     432    +   1,076          862
  Acceptances                                                     0            0            0            0
  Loans to depository institutions		        		      		     		   
    Adjustment credit                                             4    -      69    -     216            2
    Seasonal credit                                             100    -       9    +       4          100
    Extended credit                                               0            0            0            0
   Float                                                        -14    -   1,580    -     476       -1,725
   Other F.R. assets                                         30,925    -   1,163    +     498       31,596
Gold stock                                                   11,050            0    +       1       11,051
Special drawing rights certificate account                    9,200            0    -     518        9,200
Treasury currency outstanding                                25,582    +      14    +     668       25,582
        Total factors supplying reserve funds               506,580    -      84    +  30,083      509,791
						        		      		     		   
Currency in circulation*                                    468,261    +   1,098    +  30,135      471,473
Treasury cash holdings*                                         244    -       3    -      28          234
Deposits,other than reserve balances,with F.R.Banks     		      		     		   
  Treasury                                                    5,002    -      57    +       6        3,963
  Foreign                                                       168    -     102    -       2          192
  Service-related balances and adjustments (4)                6,815    -      67    -     122        6,815
  Other                                                         339    -       7    -       4          324
Other F.R. liabilities and capital                           16,144    -      47    +   1,763       15,892
        Total factors, other than reserve balances,     		      		     		   
        absorbing reserve funds                             496,974    +     814    +  31,750      498,893

Reserve balances with F.R. Banks  (5)                         9,606    -     898    -   1,667       10,898
						       		      		     		    
On  November 26, 1997, the face amount of marketable U.S. government securities held in custody by the 
Federal Reserve Banks for foreign official and international accounts was 617,808 million, a change of 
 -$ 7,963 million for the week.  The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1  Net of $ 14,232 million daily average, matched sale-purchase transactions outstanding during the 
   latest statement week, of which a net of $ 14,232 million was with foreign official and international
   accounts.  Includes securities loaned--fully secured by U.S. government securities.
2  Net of $ 14,549 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week, of which a net of $ 14,549 million was with foreign official and international 
   accounts.  Includes $ 137 million securities loaned--fully secured U.S. government securities.
3  Includes $ 1550 million of inflation-indexed securities valued at the original face amount and 
   $ 18 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Consists of required clearing balances of $ 6,714 million and adjustments of $ 101 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
                                                           Nov 26, 1997     Nov 19, 1997     Nov 27, 1996
                ASSETS
Gold certificate account                                        11,051                0        +       2
Special drawing rights certificate account                       9,200                0        -     518
Coin                                                               497        -      13        -     122
					      
Loans                                                              102        -     491        +       9
Acceptances                                                          0                0                0
Federal agency obligations		      
  Bought outright                                                  685                0        -   1,552
  Held under repurchase agreements (1)                             862        -   1,739        -   1,461
U.S. government securities		      
  Bought outright--Bills                                       195,055        -     995        +   2,549
                   Notes (2)                                   167,169        +   1,930        +  16,248
                   Bonds                                        58,193        +     954        +   8,854
    Total bought outright (3)                                  420,418        +   1,890        +  27,651
  Held under repurchase agreements (1)                          12,021        +   4,669        +   6,033
     Total U.S. government securities                          432,439        +   6,559        +  33,684
       Total loans and securities                              434,087        +   4,329        +  30,680
					      
Items in process of collection                      (520)        6,497        -     582        -     185
Bank premises                                                    1,276        -       1        +      55
Other assets (4)                                                30,357        +   1,201        +     802
                TOTAL ASSETS                        (520)      492,964        +   4,935        +  30,713
					      
                LIABILITIES
Federal Reserve notes                                          446,622        +   3,714        +  29,656
Deposits		 		     
  Depository institutions                                       19,550        +   1,439        -     608
  U.S. Treasury--general account                                 3,963        -     163        -     725
  Foreign--official accounts                                       192        +      12        +      28
    Other                                                          324        -      18        +      25
      Total deposits                                            24,029        +   1,270        -   1,280
Deferred availability cash items                    (520)        6,421        -      15        +     610
Other liabilities and accrued dividends (5)                      4,853        -      79        +     186
                TOTAL LIABILITIES                   (520)      481,925        +   4,890        +  29,172
					      
                CAPITAL ACCOUNTS
Capital paid in                                                  5,318        +      33        +     732
Surplus                                                          4,389                0        +     528
Other capital accounts                                           1,332        +      12        +     281

*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 $ 1550 million of inflation-indexed securities valued at the original face amount and 
   $ 18 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
3  Net of $ 14,549 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes $ 137 million securities loaned--fully secured by U.S. government 
   securities.
4  Includes assets denominated in foreign currencies, revalued monthly at market exchange rates.  Includes
   special investment account at Chicago of $ 134 million in Treasury bills maturing within 90 days.
5  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 26, 1997
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         94          0     Within 15 days          24,895   +   9,187        862   -   1,739
16 to 90 days           8          0     16 to 90 days           90,575   -   5,318         10           0
Over 90 days            0          0     91 days to 1 year      137,255   -     184        197   +       5
                                         Over 1 to 5 years       92,328   +   1,434        198   -       5
                                         Over 5 to 10 years      40,292   +     535        255           0
                                         Over 10 years           47,094   +     904         25           0
    Total             102          0         Total              432,439   +   6,559      1,547   -   1,739

1  Includes $ 1550 million of inflation-indexed securities valued at the original face amount and 
   $ 18 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  November 26, 1997
Millions of dollars
                                                                                                                                                            Kansas                 San
                                               Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco
         ASSETS                        
Gold certificate account                      11,051        624      3,938        350        669        965        723      1,069        401        147        286        459      1,420
Special drawing rights certif. acct.           9,200        530      3,202        282        574        792        602        900        340        123        247        367      1,241
Coin                                             497         29         19         56         27         69         55         61         17         21         21         45         77
				       
Loans                                            102          1          0          0          0          0          0         12         17         37         35          0          1
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Federal agency obligations	       
  Bought outright                                685         42        221         23         47         65         46         73         27         10         20         25         86
  Held under repurchase agreements(1)            862          0        862          0          0          0          0          0          0          0          0          0          0
U.S. government securities	       
  Bought outright--Bills                     195,055     11,891     63,091      6,521     13,492     18,559     13,016     20,806      7,769      2,716      5,570      7,084     24,541
                   Notes (2)                 167,169     10,191     54,071      5,589     11,563     15,906     11,155     17,831      6,658      2,328      4,773      6,071     21,033
                   Bonds                      58,193      3,548     18,823      1,945      4,025      5,537      3,883      6,207      2,318        810      1,662      2,113      7,322
     Total bought outright(3)                420,418     25,630    135,985     14,055     29,081     40,001     28,055     44,844     16,745      5,855     12,005     15,268     52,895
  Held under repurchase agreements(1)         12,021          0     12,021          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             432,439     25,630    148,006     14,055     29,081     40,001     28,055     44,844     16,745      5,855     12,005     15,268     52,895
       Total loans and securities            434,087     25,673    149,089     14,078     29,128     40,066     28,100     44,928     16,789      5,901     12,059     15,293     52,982
				       
Items in process of collection                 7,017        461        761        285        262        457        840        556        302        606        427        417      1,642
Bank premises                                  1,276         94        154         50        128        126         78        108         31        144         54        150        159
Other assets(4)                               30,357      1,270      9,458      1,411      1,825      2,283      2,349      3,317        834        577        979      1,379      4,675
Interdistrict settlement account                   0     -2,514    +19,002       -647     -2,341     -7,932     -1,068     -4,718     -1,605     -1,520       +979     +3,166       -804
          TOTAL ASSETS                       493,484     26,167    185,622     15,865     30,272     36,827     31,679     46,221     17,108      6,001     15,052     21,276     61,393

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 $ 1550 million of inflation-indexed securities valued at the original face amount and 
   $ 18 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
3  Net of $ 14,549 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes $ 137 million securities loaned--fully secured by U.S. government 
   securities.
4  Includes assets denominated in foreign currencies, revalued monthly at market exchange rates.  Includes
   special investment account at Chicago of $ 134 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  November 26, 1997
Millions of dollars
                                                                                                                                                            Kansas                 San
                                               Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco
       LIABILITIES                         
Federal Reserve notes                        446,622     23,152    173,688     13,576     27,951     32,629     28,119     41,354     15,865      4,228     13,384     19,017     53,659
Deposits			      	      
  Depository institutions                     19,550      1,862      3,142      1,270        977      1,423      1,625      2,564        576        706        754      1,168      3,484
  U.S. Treasury--general account               3,963          0      3,963          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                     192          5         81          9          9         10         13         17          4          3          5          8         28
  Other                                          324          1        101          1          3         74          2        135          0          0          2          2          1
    Total deposits                            24,029      1,868      7,287      1,280        989      1,507      1,640      2,716        580        710        761      1,178      3,512
Deferred credit items                          6,941        446        802        249        281        576        809        581        205        560        433        332      1,666
Other liabilities and accrued	      	      
  dividends (1)                                4,853        292      1,511        187        321        450        341        504        205         99        171        193        578
    TOTAL LIABILITIES                        482,445     25,758    183,289     15,292     29,542     35,163     30,910     45,155     16,855      5,597     14,749     20,720     59,415
				      	      
       CAPITAL ACCOUNTS		      	      
Capital paid in                                5,318        194      1,108        281        358        815        336        526        122        198        125        277        978
Surplus                                        4,389        164        999        262        279        303        405        512        109        101        167        244        845
Other capital accounts                         1,332         51        226         30         94        547         28         29         22        104         11         35        155
     TOTAL LIABILITIES AND CAPITAL    	      
        ACCOUNTS                             493,484     26,167    185,622     15,865     30,272     36,827     31,679     46,221     17,108      6,001     15,052     21,276     61,393
				      	      
FEDERAL RESERVE AGENTS' ACCOUNTS      	      
				      	      
F.R. notes outstanding                       548,091     28,905    207,690     16,777     31,942     39,072     36,657     49,364     17,973      6,098     15,515     25,863     72,237
  Less--Held by F.R. Banks                   101,469      5,753     34,002      3,201      3,992      6,442      8,538      8,010      2,108      1,870      2,130      6,845     18,578
  F.R. notes, net                            446,622     23,152    173,688     13,576     27,951     32,629     28,119     41,354     15,865      4,228     13,384     19,017     53,659
Collateral held against F.R. notes    	      
   Gold certificate account                   11,051
   Special drawing rights	      	      
     certificate account                       9,200
   Other eligible assets                           0
   U.S. govt. and agency securities          426,372
     Total collateral                        446,622

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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