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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
                                                                                                September 4,  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      Sep 3, 1997    Aug 27, 1997    Sep 4, 1996   Sep 3, 1997
 
Reserve Bank Credit  (1,2)                                     453,918   +       3,121   +    25,742   454,875
  U.S. government securities
    Bought outright-system account (3)                         409,585   +         594   +    22,462   409,981
    Held under repurchase agreements                            10,482   +       1,790   +     5,489    10,930
  Federal agency obligations
    Bought outright                                              1,010   -          20   -     1,326       960
    Held under repurchase agreements                             2,164   +         795   +       855     1,346
  Acceptances                                                        0               0             0         0
  Loans to depository institutions
    Adjustment credit                                              162   +          88   +        21         8
    Seasonal credit                                                411   +           4   +        87       399
    Extended credit                                                  0               0             0         0
   Float                                                           337   +          11   -       375      1674
   Other F.R. assets                                            29,768   -         141   -     1,471    29,577
Gold stock                                                      11,050               0             0    11,050
Special drawing rights certificate account                       9,200               0   -       518     9,200
Treasury currency outstanding                                   25,461   +          14   +       751    25,461
        Total factors supplying reserve funds                  499,630   +       3,134   +    25,975   500,587
 
Currency in circulation*                                       459,826   +       3,349   +    27,326   461,321
Treasury cash holdings*                                            275   -           8   -         2       260
Deposits,other than reserve balances,with F.R.Banks
  Treasury                                                       5,131   +         265   -       216     5,001
  Foreign                                                          208   +          11   +        36       166
  Service-related balances and adjustments (4)                   7,057   -          39   +       794     7,057
  Other                                                            344   -          21   +        31       357
Other F.R. liabilities and capital                              16,076   +         125   +     2,060    15,792
        Total factors, other than reserve balances,
        absorbing reserve funds                                488,918   +       3,681   +    30,030   489,954
 
Reserve balances with F.R. Banks  (5)                           10,712   -         546   -     4,054    10,633
 
On   September 3, 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 $ 647,076 million, a change of + $ 3,508 million for the week.  The total includes the face
value of U.S. Treasury strips and other zero coupon bonds.
1  Net of $ 14,807 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which
    a net of $ 14,807 million was with foreign official and international accounts.  Includes securities loaned--fully secured by U.S. 
   government securities.
2 Net of $ 14,411 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of
   $ 14,411 million was with foreign official and international accounts.  Includes $ 239 million securities loaned--fully
   secured U.S. government securities.
3 Includes $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 9 million of compensation that adjusts for the effects of  
   inflation on the principal of such securities.
4 Consists of required clearing balances of $ 6,760 million and adjustments of $ 297 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
                                                         Sep 3, 1997    Aug 27, 1997     Sep 4, 1996
                                 ASSETS
Gold certificate account                                     11,050                 0      +         1
Special drawing rights certificate account                    9,200                 0      -       518
Coin                                                            475       -        16      -        56
 
Loans                                                           407       -        31      -       218
Acceptances                                                       0                 0                0
Federal agency obligations
  Bought outright                                               960       -        70      -     1,376
  Held under repurchase agreements (1)                        1,346       -     1,004      -       149
U.S. government securities
  Bought outright--Bills                                    195,194       +     1,107      +     7,949
                   Notes (2)                                159,795                 0      +     7,404
                   Bonds                                     54,991                 0      +     7,123
    Total bought outright (3)                               409,981       +     1,108      +    22,475
  Held under repurchase agreements (1)                       10,930       -     5,183      +     7,735
     Total U.S. government securities                       420,911       -     4,075      +    30,210
       Total loans and securities                           423,624       -     5,180      +    28,467
 
Items in process of collection              (408)            10,660       +     4,117      +       462
Bank premises                                                 1,264       -         1      +        67
Other assets (4)                                             28,429       -       745      -     1,474
              TOTAL ASSETS                  (408)           484,704       -     1,825      +    26,949
 
                             LIABILITIES
Federal Reserve notes                                       436,595       +     2,886      +    26,289
Deposits
  Depository institutions                                    17,571       -     7,597      -     1,597
  U.S. Treasury--general account                              5,001       -       199      -       824
  Foreign--official accounts                                    166       +         4      -         5
    Other                                                       357       -        19                0
      Total deposits                                         23,095       -     7,811      -     2,426
Deferred availability cash items            (408)             9,221       +     3,123      +       935
Other liabilities and accrued dividends (5)                   4,903       -       133      +       507
             TOTAL LIABILITIES              (408)           473,815       -     1,935      +    25,305
                                                                                           
                               CAPITAL ACCOUNTS                                            
Capital paid in                                               5,163       +        12      +       644
Surplus                                                       4,496                 0      +       529
Other capital accounts                                        1,230       +        97      +       472
                                                                          
 
*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 $ 1,150 million of inflation-indexed securities valued at the original face amount and  $ 9 million of compensation that adjusts for the effects of inflation 
  on the principal of such securities.
3 Net of $ 14,411 million matched sale-purchase transactions outstanding at the end of the latest statement week.  Includes
   $ 239 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 $ 117 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, SEPTEMBER 3, 1997
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
               Loans  Acceptances                                 securities (1)           obligations
                                                                     Weekly                     Weekly
                                                          Holdings   changes          Holdings  changes
Within 15 day     139        0  Within 15 days              23,983  -          1,067     1381  -           1074
16 days to 90     269        0  16 days to 90 days          87,042  -          3,710      106                 0
Over 90 days        0        0  91 days to 1 year          137,114  +            943      154                 0
                                Over 1 year to 5 years      90,373  -            241      351                 0
                                Over 5 years to 10 years    37,657                 0      290                 0
                                Over 10 years               44,741                 0       25                 0
    Total         407        0       Total                 420,911  -          4,075     2306  -           1074
 
1 Includes $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 9 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 3, 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                     11,050         624       3,937         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                                            475          13          17          54          26          68          59          55          21          17          35          48          62
 
Loans                                           407           0           0           0           0           0          12          64          93         161          58           6          13
Acceptances                                       0           0           0           0           0           0           0           0           0           0           0           0           0
Federal agency obligations
  Bought outright                               960          59         311          32          66          91          64         102          38          13          27          35         121
  Held under repurchase agreements(1)         1,346           0       1,346           0           0           0           0           0           0           0           0           0           0
U.S. government securities
  Bought outright--Bills                    195,194      11,900      63,136       6,525      13,502      18,572      13,025      20,820       7,774       2,718       5,574       7,089      24,559
                   Notes (2)                159,795       9,742      51,686       5,342      11,053      15,204      10,663      17,045       6,364       2,225       4,563       5,803      20,105
                   Bonds                     54,991       3,352      17,787       1,838       3,804       5,232       3,670       5,866       2,190         766       1,570       1,997       6,919
     Total bought outright(3)               409,981      24,993     132,609      13,706      28,359      39,008      27,358      43,730      16,329       5,710      11,707      14,889      51,582
  Held under repurchase agreements(1)        10,930           0      10,930           0           0           0           0           0           0           0           0           0           0
     Total U.S. govt. securities            420,911      24,993     143,539      13,706      28,359      39,008      27,358      43,730      16,329       5,710      11,707      14,889      51,582
       Total loans and securities           423,624      25,052     145,195      13,738      28,425      39,100      27,434      43,897      16,460       5,884      11,792      14,930      51,716
 
Items in process of collection               11,068         659       1,233         558         525         799       1,043         910         457         938         708         618       2,620
Bank premises                                 1,264          94         153          50         120         126          77         108          30         142          55         151         159
Other assets(4)                              28,429       1,212       8,405       1,358       1,748       2,219       2,258       3,115         798         557         941       1,326       4,493
Interdistrict settlement account                 -0       -1980       15711       -2243       -1239       -5864       -1105       -2592       -2155       -1911       -1805        3900        1282
          TOTAL ASSETS                      485,112      26,204     177,855      14,147      30,847      38,205      31,091      47,463      16,353       5,896      12,259      21,798      62,993
 
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 $ 1,150 million of inflation-indexed securities valued at the original face amount and $ 9 million of compensation that adjusts for the effects of inflation
  on the principal of such securities.
3 Net of $ 14,411 million matched sale-purchase transactions outstanding at the end of the latest statement week.  Includes $ 239 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 
   $ 117 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 3, 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                       436,595      23,586     164,368      11,885      28,527      34,112      27,656      42,715      15,049       4,287      10,446      19,395      54,569
Deposits
  Depository institutions                    17,571       1,303       3,277       1,041         883       1,196       1,402       2,176         494         350         796       1,106       3,548
  U.S. Treasury--general account              5,001           0       5,001           0           0           0           0           0           0           0           0           0           0
  Foreign--official accounts                    166           5          55           9           9          10          13          17           4           3           5           8          28
  Other                                         357           6         101           1           4         118           2         118           0           2           2           1           2
    Total deposits                           23,095       1,314       8,435       1,050         896       1,324       1,417       2,310         498         355         803       1,115       3,577
Deferred credit items                         9,629         618       1,152         450         362         773         922         856         366         779         532         534       2,285
Other liabilities and accrued
  dividends (1)                               4,903         292       1,559         188         322         446         341         510         202         104         171         193         574
    TOTAL LIABILITIES                       474,223      25,810     175,513      13,574      30,107      36,656      30,336      46,392      16,115       5,524      11,952      21,238      61,005
 
       CAPITAL ACCOUNTS
Capital paid in                               5,163         186       1,100         281         356         746         315         503         111         196         126         275         968
Surplus                                       4,496         168       1,023         268         286         310         415         524         112         104         171         250         865
Other capital accounts                        1,230          41         219          25          98         492          26          44          15          72          10          35         154
     TOTAL LIABILITIES AND CAPITAL
        ACCOUNTS                            485,112      26,204     177,855      14,147      30,847      38,205      31,091      47,463      16,353       5,896      12,259      21,798      62,993
 
 
FEDERAL RESERVE AGENTS' ACCOUNTS
 
F.R. notes outstanding                      546,205      29,701     206,638      15,367      32,786      40,406      36,218      50,657      17,443       5,916      12,553      25,683      72,839
  Less--Held by F.R. Banks                  109,609       6,114      42,270       3,482       4,258       6,294       8,562       7,942       2,394       1,628       2,107       6,288      18,270
  F.R. notes, net                           436,595      23,586     164,368      11,885      28,527      34,112      27,656      42,715      15,049       4,287      10,446      19,395      54,569
Collateral held against F.R. notes
   Gold certificate account                  11,050
   Special drawing rights
     certificate account                      9,200
   Other eligible assets                          0
   U.S. govt. and agency securities         416,345
     Total collateral                       436,595
 
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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