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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
                                                                                                October 16,  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      Oct 15, 1997   Oct 8, 1997     Oct 16, 1996  Oct 15, 1997  
 
Reserve Bank Credit  (1,2)                                     453,978   +       2,655   +    26,068   457,001
  U.S. government securities
    Bought outright-system account (3)                         413,270   +          50   +    26,155   414,233
    Held under repurchase agreements                             6,152   +       2,046   +     2,207     7,040
  Federal agency obligations
    Bought outright                                                833   -          33   -     1,477       761
    Held under repurchase agreements                             1,256   +         116   -       368       905
  Acceptances                                                        0               0             0         0
  Loans to depository institutions
    Adjustment credit                                                8   -          83   -       150        17
    Seasonal credit                                                232   -          44   +        19       221
    Extended credit                                                  0               0             0         0
   Float                                                           607   +         331   -       300      1526
   Other F.R. assets                                            31,620   +         271   -        18    32,298
Gold stock                                                      11,050               0   +         1    11,050
Special drawing rights certificate account                       9,200               0   -       518     9,200
Treasury currency outstanding                                   25,516   +          14   +       689    25,516
        Total factors supplying reserve funds                  499,744   +       2,669   +    26,240   502,767
 
Currency in circulation*                                       461,769   +       2,606   +    27,846   462,824
Treasury cash holdings*                                            242   -          14   -        50       240
Deposits,other than reserve balances,with F.R.Banks
  Treasury                                                       5,110   -         292   +       225     5,174
  Foreign                                                          176   -          31   -         3       164
  Service-related balances and adjustments (4)                   7,010   +          48   +       208     7,010
  Other                                                            382   +           7   +         1       381
Other F.R. liabilities and capital                              15,842   -         200   +     2,008    15,599
        Total factors, other than reserve balances,
        absorbing reserve funds                                490,531   +       2,123   +    30,235   491,392
 
Reserve balances with F.R. Banks  (5)                            9,214   +         546   -     3,995    11,375
 
On   October 15, 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 $ 635,857 million, a change of + $ 2,314 million for the week.  The total includes the face
value of U.S. Treasury strips and other zero coupon bonds.
1  Net of $ 14,607 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which
    a net of $ 14,607 million was with foreign official and international accounts.  Includes securities loaned--fully secured by U.S. 
   government securities.
2 Net of $ 14,504 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of
   $ 14,504 million was with foreign official and international accounts.  Includes $ 179 million securities loaned--fully
   secured U.S. government securities.
3 Includes $ 1,550 million of inflation-indexed securities valued at the original face amount and $ 13 million of compensation that adjusts for the effects of  
   inflation on the principal of such securities.
4 Consists of required clearing balances of $ 6,768 million and adjustments of $ 242 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
                                                         Oct 15, 1997   Oct 8, 1997      Oct 16, 1996
                                 ASSETS
Gold certificate account                                     11,050                 0      +         1
Special drawing rights certificate account                    9,200                 0      -       518
Coin                                                            524       -         3      -        86
 
Loans                                                           238       -        45      -       671
Acceptances                                                       0                 0                0
Federal agency obligations
  Bought outright                                               761       -       105      -     1,549
  Held under repurchase agreements (1)                          905       -       817      +        81
U.S. government securities
  Bought outright--Bills                                    195,100       -       184      +     8,305
                   Notes (2)                                163,074       -        64      +    10,683
                   Bonds                                     56,059       +     1,068      +     8,190
    Total bought outright (3)                               414,233       +       819      +    27,178
  Held under repurchase agreements (1)                        7,040       -       514      +     5,785
     Total U.S. government securities                       421,273       +       305      +    32,963
       Total loans and securities                           423,177       -       662      +    30,824
 
Items in process of collection              (495)            12,299       +     4,893      -       418
Bank premises                                                 1,271       +         3      +        58
Other assets (4)                                             31,022       +       588      +       653
              TOTAL ASSETS                  (495)           488,543       +     4,819      +    30,513
 
                             LIABILITIES
Federal Reserve notes                                       438,072       +     1,736      +    27,297
Deposits
  Depository institutions                                    19,103       -       621      -     1,248
  U.S. Treasury--general account                              5,174       +       316      +     1,581
  Foreign--official accounts                                    164                 0      -         1
    Other                                   (1)                 381       +         7      +        15
      Total deposits                        (1)              24,822       -       298      +       347
Deferred availability cash items            (494)            10,050       +     3,437      +       930
Other liabilities and accrued dividends (5)                   4,682       -        80      +       411
             TOTAL LIABILITIES              (495)           477,626       +     4,795      +    28,985
                                                                                           
                               CAPITAL ACCOUNTS                                            
Capital paid in                                               5,252       +         7      +       719
Surplus                                                       4,389                 0      +       528
Other capital accounts                                        1,277       +        17      +       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 $ 1,550 million of inflation-indexed securities valued at the original face amount and  $ 13 million of compensation that adjusts for the effects of inflation   
  on the principal of such securities.
3 Net of $ 14,504 million matched sale-purchase transactions outstanding at the end of the latest statement week.  Includes
   $ 179 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 $ 150 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, OCTOBER 15, 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      43        0  Within 15 days              20,717  +            548      955  -            887
16 days to 90     195        0  16 days to 90 days          91,089  +          4,512       26  -             35
Over 90 days        0        0  91 days to 1 year          134,293  -          5,574      202                 0
                                Over 1 year to 5 years      91,356  -            600      203                 0
                                Over 5 years to 10 years    38,429  +            771      255                 0
                                Over 10 years               45,389  +            648       25                 0
    Total         238        0       Total                 421,273  +            305     1666  -            921
 
1 Includes $ 1,550 million of inflation-indexed securities valued at the original face amount and $ 13 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 OCTOBER 15, 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                                            524          23          20          53          33          70          64          64          19          22          31          47          76
 
Loans                                           238           2           0          11           2           0           4          36          59          81          39           3           2
Acceptances                                       0           0           0           0           0           0           0           0           0           0           0           0           0
Federal agency obligations
  Bought outright                               761          46         246          25          53          72          51          81          30          11          22          28          96
  Held under repurchase agreements(1)           905           0         905           0           0           0           0           0           0           0           0           0           0
U.S. government securities
  Bought outright--Bills                    195,100      11,894      63,105       6,522      13,495      18,563      13,019      20,810       7,771       2,717       5,571       7,085      24,547
                   Notes (2)                163,074       9,941      52,747       5,452      11,280      15,516      10,882      17,394       6,495       2,271       4,656       5,922      20,517
                   Bonds                     56,059       3,417      18,132       1,874       3,878       5,334       3,741       5,980       2,233         781       1,601       2,036       7,053
     Total bought outright(3)               414,233      25,253     133,984      13,848      28,653      39,413      27,642      44,184      16,498       5,769      11,828      15,043      52,117
  Held under repurchase agreements(1)         7,040           0       7,040           0           0           0           0           0           0           0           0           0           0
     Total U.S. govt. securities            421,273      25,253     141,024      13,848      28,653      39,413      27,642      44,184      16,498       5,769      11,828      15,043      52,117
       Total loans and securities           423,177      25,301     142,175      13,884      28,708      39,485      27,696      44,301      16,587       5,861      11,889      15,074      52,215
 
Items in process of collection               12,794         757       1,597         412         568       1,088       1,429         913         593       1,185         610         738       2,905
Bank premises                                 1,271          94         153          50         125         126          77         108          31         143          55         150         159
Other assets(4)                              31,022       1,307       9,805       1,419       1,863       2,357       2,377       3,334         861         580         987       1,405       4,728
Interdistrict settlement account                 -0       -2791       20516       -2279       -2084       -7710       -2090       -3440       -1735       -1486         362        3937       -1202
          TOTAL ASSETS                      489,038      25,846     181,405      14,171      30,457      37,173      30,879      47,249      17,096       6,574      14,467      22,178      61,542
 
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 $ 1,550 million of inflation-indexed securities valued at the original face amount and $ 13 million of compensation that adjusts for the effects of inflation
  on the principal of such securities.
3 Net of $ 14,504 million matched sale-purchase transactions outstanding at the end of the latest statement week.  Includes $ 179 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 
   $ 150 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 OCTOBER 15, 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                       438,072      23,296     165,423      12,089      28,133      33,098      27,276      42,449      15,598       4,429      12,650      19,662      53,968
Deposits
  Depository institutions                    19,103       1,230       5,656         977         759         981       1,521       2,207         684         747         749       1,322       2,269
  U.S. Treasury--general account              5,174           0       5,174           0           0           0           0           0           0           0           0           0           0
  Foreign--official accounts                    164           5          53           9           9          10          13          17           4           3           5           8          28
  Other                                         381           1         108           4           4         102           3         152           0           1           4           1           1
    Total deposits                           24,823       1,237      10,991         990         771       1,093       1,538       2,376         688         751         759       1,332       2,298
Deferred credit items                        10,545         642       1,217         344         492         902         985         881         393         902         589         445       2,755
Other liabilities and accrued
  dividends (1)                               4,682         280       1,461         183         310         434         328         491         196          98         164         186         551
    TOTAL LIABILITIES                       478,121      25,454     179,092      13,605      29,706      35,526      30,126      46,196      16,874       6,181      14,162      21,625      59,573
 
       CAPITAL ACCOUNTS
Capital paid in                               5,252         187       1,101         281         366         811         315         514         105         197         125         275         974
Surplus                                       4,389         164         999         262         279         303         405         512         109         101         167         244         845
Other capital accounts                        1,277          41         213          23         106         533          33          27           8          96          13          33         151
     TOTAL LIABILITIES AND CAPITAL
        ACCOUNTS                            489,038      25,846     181,405      14,171      30,457      37,173      30,879      47,249      17,096       6,574      14,467      22,178      61,542
 
 
FEDERAL RESERVE AGENTS' ACCOUNTS
 
F.R. notes outstanding                      551,608      29,685     205,376      15,801      32,875      40,077      36,761      50,933      17,988       6,220      15,448      26,639      73,805
  Less--Held by F.R. Banks                  113,536       6,389      39,953       3,712       4,742       6,979       9,485       8,484       2,389       1,790       2,798       6,977      19,837
  F.R. notes, net                           438,072      23,296     165,423      12,089      28,133      33,098      27,276      42,449      15,598       4,429      12,650      19,662      53,968
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         417,822
     Total collateral                       438,072
 
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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