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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
                                                                                             April 30, 1998
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     Apr 29, 1998 Apr 22, 1998 Apr 30, 1997 Apr 29, 1998

Reserve Bank Credit  (1,2)                                  481,445    +   5,302    +  15,074      506,850
  U.S. government securities			        		      		     		   
    Bought outright-system account (3)                      439,580    -   1,022    +  38,118      442,406
    Held under repurchase agreements                          7,459    +   5,120    -  21,243       26,047
  Federal agency obligations			        		      		     		   
    Bought outright                                             559    -       6    -   1,414          551
    Held under repurchase agreements                            536    -     150    -     155        1,808
  Acceptances                                                     0            0            0            0
  Loans to depository institutions		        		      		     		   
    Adjustment credit                                            15    +       1    -     104            4
    Seasonal credit                                              53    +      10    -      61           56
    Extended credit                                               0            0            0            0
   Float                                                        449    +     121    -     379          702
   Other F.R. assets                                         32,794    +   1,228    +     311       35,277
Gold stock                                                   11,049            0    -       3       11,048
Special drawing rights certificate account                    9,200            0            0        9,200
Treasury currency outstanding                                25,844    +      14    +     612       25,844
        Total factors supplying reserve funds               527,537    +   5,316    +  15,683      552,942
						        		      		     		   
Currency in circulation*                                    475,910    -   1,043    +  30,342      477,038
Treasury cash holdings*                                         277            0    -      28          275
Deposits,other than reserve balances,with F.R.Banks     		      		     		   
  Treasury                                                   17,944    +  10,049    -  14,993       41,801
  Foreign                                                       173    -      12    -      14          199
  Service-related balances and adjustments (4)                6,804    -      57    -     284        6,804
  Other                                                         366    +      17    +      29          343
Other F.R. liabilities and capital                           16,304    -      24    +   1,061       16,135
        Total factors, other than reserve balances,     		      		     		   
        absorbing reserve funds                             517,777    +   8,929    +  16,114      542,595

Reserve balances with F.R. Banks  (5)                         9,760    -   3,614    -     431       10,348
						       		      		     		    
On     April 29, 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 604,030 million, a change of 
 -$ 2,521 million for the week.  The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1  Net of $ 18,618 million daily average, matched sale-purchase transactions outstanding during the 
   latest statement week, of which a net of $ 16,420 million was with foreign official and international
   accounts.  Includes securities loaned--fully secured by U.S. government securities.
2  Net of $ 15,793 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week, of which a net of $ 15,793 million was with foreign official and international 
   accounts.  Includes $ 60 million securities loaned--fully secured U.S. government securities.
3  Includes $ 2,450 million of inflation-indexed securities valued at the original face amount and 
   $ 27 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Consists of required clearing balances of $ 6,483 million and adjustments of $ 320 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
                                                           Apr 29, 1998     Apr 22, 1998     Apr 30, 1997
                ASSETS
Gold certificate account                                        11,048                0        -       3
Special drawing rights certificate account                       9,200                0                0
Coin                                                               457        -      15        -     162
					      
Loans                                                               60        -      83        -      96
Acceptances                                                          0                0                0
Federal agency obligations		      
  Bought outright                                                  551        -      14        -   1,420
  Held under repurchase agreements (1)                           1,808        -     809        +     819
U.S. government securities		      
  Bought outright--Bills                                       199,906        +     581        +   4,872
                   Notes (2)                                   180,586        +       1        +  24,507
                   Bonds (3)                                    61,913                0        +  10,514
    Total bought outright (4)                                  442,406        +     582        +  39,893
  Held under repurchase agreements (1)                          26,047        +  15,822        -  24,331
     Total U.S. government securities                          468,453        +  16,404        +  15,562
       Total loans and securities                              470,871        +  15,498        +  14,865
					      
Items in process of collection                      (410)        7,743        +     422        +   1,449
Bank premises                                                    1,284                0        +      46
Other assets (5)                                                33,987        +   2,679        +   1,962
                TOTAL ASSETS                        (410)      534,591        +  18,583        +  18,157
					      
                LIABILITIES
Federal Reserve notes                                          451,926        -     300        +  29,597
Deposits		 		     
  Depository institutions                                       17,372        -   9,691        -   3,162
  U.S. Treasury--general account                                41,801        +  28,851        -  10,414
  Foreign--official accounts                                       199        +      37        +      31
    Other                                                          343        -       7        -       5
      Total deposits                                            59,716        +  19,191        -  13,551
Deferred availability cash items                    (410)        6,814        -     287        +     952
Other liabilities and accrued dividends (6)                      4,838        +      31        -     713
                TOTAL LIABILITIES                   (410)      523,294        +  18,635        +  16,286
					      
                CAPITAL ACCOUNTS
Capital paid in                                                  5,475        +       2        +     679
Surplus                                                          5,220                0        +     745
Other capital accounts                                             602        -      54        +     447

*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 
   $ 27 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
3  Includes $ 400 million of inflation-indexed securities valued at the original face amount and 
   $ 0 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Net of $ 15,793 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes $ 60 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 $ 177 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,     April 29, 1998
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         56          0     Within 15 days          41,303   +  18,115      1,808   -     823
16 to 90 days           4          0     16 to 90 days           97,214   +   4,118          0           0
Over 90 days            0          0     91 days to 1 year      139,521   -   5,830        175           0
                                         Over 1 to 5 years       99,016           0        126           0
                                         Over 5 to 10 years      40,622   +       1        225           0
                                         Over 10 years           50,777           0         25           0
    Total              60          0         Total              468,453   +  16,404      2,359   -     823

1  Includes $ 2,450 million of inflation-indexed securities valued at the original face amount and 
   $ 27 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     April 29, 1998
Millions of dollars
                                                                                                                                                            Kansas                 San
                                               Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco
         ASSETS                        
Gold certificate account                      11,048        582      4,208        323        643        807        717        998        358        128        289        530      1,465
Special drawing rights certif. acct.           9,200        530      3,202        282        574        792        602        900        340        123        247        367      1,241
Coin                                             457         25         30         42         28         50         44         60         17         22         44         35         62
				       
Loans                                             60          1          0          0          0          0          5         21          8         12          9          0          4
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Federal agency obligations	       
  Bought outright                                551         30        204         16         36         43         33         53         19          6         15         25         69
  Held under repurchase agreements(1)          1,808          0      1,808          0          0          0          0          0          0          0          0          0          0
U.S. government securities	       
  Bought outright--Bills                     199,906     10,887     74,093      5,812     12,992     15,747     12,160     19,191      7,025      2,196      5,546      9,089     25,166
                   Notes (2)                 180,586      9,835     66,933      5,250     11,737     14,226     10,985     17,337      6,346      1,984      5,010      8,211     22,734
                   Bonds (3)                  61,913      3,372     22,948      1,800      4,024      4,877      3,766      5,944      2,176        680      1,718      2,815      7,794
     Total bought outright(4)                442,406     24,094    163,973     12,862     28,753     34,850     26,912     42,472     15,547      4,860     12,273     20,116     55,693
  Held under repurchase agreements(1)         26,047          0     26,047          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             468,453     24,094    190,020     12,862     28,753     34,850     26,912     42,472     15,547      4,860     12,273     20,116     55,693
       Total loans and securities            470,871     24,125    192,032     12,879     28,789     34,894     26,950     42,546     15,574      4,878     12,296     20,141     55,766
				       
Items in process of collection                 8,153        527        746        261        219        458        835        559        325        742        338        433      2,710
Bank premises                                  1,284         93        158         50        142        126         82        107         31        132         54        150        159
Other assets(5)                               33,987      1,497     12,390      1,256      1,883      3,706      1,890      2,974        834        779        746      1,446      4,585
Interdistrict settlement account                   0     -2,306    +14,207       -470     -1,266     -4,100       +329     -1,112       -946       +109     +1,267     +2,762     -8,473
          TOTAL ASSETS                       535,001     25,073    226,973     14,623     31,011     36,732     31,449     47,032     16,533      6,913     15,282     25,864     57,516

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 
   $ 27 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
3  Includes $ 400 million of inflation-indexed securities valued at the original face amount and 
   $ 0 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Net of $ 15,793 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes $ 60 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 $ 177 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     April 29, 1998
Millions of dollars
                                                                                                                                                            Kansas                 San
                                               Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco
       LIABILITIES                         
Federal Reserve notes                        451,926     22,319    177,806     12,920     28,856     32,890     27,439     41,912     15,255      5,405     13,718     23,173     50,233
Deposits			      	      
  Depository institutions                     17,372      1,548      2,236        728        765      1,191      2,131      2,899        612        430        690      1,490      2,652
  U.S. Treasury--general account              41,801          0     41,801          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                     199          7         84          8          9         22          9         14          3          5          3          7         26
  Other                                          343          1         98          1          2         56          2        178          0          1          2          1          1
    Total deposits                            59,716      1,556     44,220        737        776      1,270      2,142      3,091        615        436        695      1,499      2,678
Deferred credit items                          7,224        453        781        246        313        445        810        505        240        599        433        370      2,029
Other liabilities and accrued	      	      
  dividends (1)                                4,838        252      1,739        168        300        382        315        450        184         92        164        223        570
    TOTAL LIABILITIES                        523,704     24,580    224,545     14,071     30,245     34,986     30,705     45,958     16,294      6,532     15,011     25,265     55,511
				      	      
       CAPITAL ACCOUNTS		      	      
Capital paid in                                5,475        211      1,145        266        375        857        368        528        116        191        134        295        989
Surplus                                        5,220        254      1,055        273        335        818        338        502        122        189        119        271        945
Other capital accounts                           602         29        227         13         56         71         36         44          1          2         18         33         72
     TOTAL LIABILITIES AND CAPITAL    	      
        ACCOUNTS                             535,001     25,073    226,973     14,623     31,011     36,732     31,449     47,032     16,533      6,913     15,282     25,864     57,516
				      	      
FEDERAL RESERVE AGENTS' ACCOUNTS      	      
				      	      
F.R. notes outstanding                       560,370     26,813    220,903     15,713     31,918     39,829     36,090     50,853     17,554      6,935     15,877     28,620     69,265
  Less--Held by F.R. Banks                   108,444      4,495     43,097      2,793      3,062      6,939      8,651      8,941      2,299      1,530      2,159      5,447     19,032
  F.R. notes, net                            451,926     22,319    177,806     12,920     28,856     32,890     27,439     41,912     15,255      5,405     13,718     23,173     50,233
Collateral held against F.R. notes    	      
   Gold certificate account                   11,048
   Special drawing rights	      	      
     certificate account                       9,200
   Other eligible assets                           0
   U.S. govt. and agency securities          431,677
     Total collateral                        451,926

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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