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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 9, 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 8, 1998  Apr 1, 1998  Apr 9, 1997  Apr 8, 1998

Reserve Bank Credit  (1,2)                                  467,625    -     658    +  25,449      471,793
  U.S. government securities			        		      		     		   
    Bought outright-system account (3)                      433,534    +     435    +  32,742      434,497
    Held under repurchase agreements                            868    -   1,317    -   6,734        2,025
  Federal agency obligations			        		      		     		   
    Bought outright                                             625            0    -   1,370          625
    Held under repurchase agreements                            421    -       4    -     480          983
  Acceptances                                                     0            0            0            0
  Loans to depository institutions		        		      		     		   
    Adjustment credit                                           139    +     138    +     139          939
    Seasonal credit                                              30    +       2    -      33           30
    Extended credit                                               0            0            0            0
   Float                                                        914    +     583    +     583        1,261
   Other F.R. assets                                         31,093    -     494    +     602       31,433
Gold stock                                                   11,049            0    -       2       11,049
Special drawing rights certificate account                    9,200            0            0        9,200
Treasury currency outstanding                                25,802    +      14    +     614       25,802
        Total factors supplying reserve funds               513,676    -     644    +  26,061      517,844
						        		      		     		   
Currency in circulation*                                    475,592    +   1,729    +  29,390      477,247
Treasury cash holdings*                                         261    -       3    -      22          276
Deposits,other than reserve balances,with F.R.Banks     		      		     		   
  Treasury                                                    5,044    +      12    +     218        4,382
  Foreign                                                       170    -       9    +       6          162
  Service-related balances and adjustments (4)                6,907    +      60    -      54        6,907
  Other                                                         408    +      45    -       5          398
Other F.R. liabilities and capital                           15,863    -      31    +     888       15,983
        Total factors, other than reserve balances,     		      		     		   
        absorbing reserve funds                             504,245    +   1,804    +  30,420      505,356

Reserve balances with F.R. Banks  (5)                         9,430    -   2,448    -   4,359       12,488
						       		      		     		    
On      April 8, 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 617,213 million, a change of 
 +$ 3,489 million for the week.  The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1  Net of $ 16,736 million daily average, matched sale-purchase transactions outstanding during the 
   latest statement week, of which a net of $ 16,736 million was with foreign official and international
   accounts.  Includes securities loaned--fully secured by U.S. government securities.
2  Net of $ 16,947 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week, of which a net of $ 16,947 million was with foreign official and international 
   accounts.  Includes $ 30 million securities loaned--fully secured U.S. government securities.
3  Includes $ 2,050 million of inflation-indexed securities valued at the original face amount and 
   $ 24 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Consists of required clearing balances of $ 6,610 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
                                                            Apr 8, 1998      Apr 1, 1998      Apr 9, 1997
                ASSETS
Gold certificate account                                        11,049                0        -       2
Special drawing rights certificate account                       9,200                0                0
Coin                                                               510        -      10        -     143
					      
Loans                                                              969        +     941        +     898
Acceptances                                                          0                0                0
Federal agency obligations		      
  Bought outright                                                  625                0        -   1,370
  Held under repurchase agreements (1)                             983        -      45        -     688
U.S. government securities		      
  Bought outright--Bills                                       195,203        -     234        -     190
                   Notes (2)                                   177,806        +   1,370        +  23,279
                   Bonds                                        61,488                0        +  10,089
    Total bought outright (3)                                  434,497        +   1,136        +  33,177
  Held under repurchase agreements (1)                           2,025        -   1,272        -   8,922
     Total U.S. government securities                          436,522        -     136        +  24,255
       Total loans and securities                              439,099        +     760        +  23,096
					      
Items in process of collection                      (429)        8,483        +     467        +   1,946
Bank premises                                                    1,283        +       4        +      39
Other assets (4)                                                30,154        +     516        +     741
                TOTAL ASSETS                        (429)      499,778        +   1,738        +  25,676
					      
                LIABILITIES
Federal Reserve notes                                          452,232        +   1,902        +  28,932
Deposits		 		     
  Depository institutions                                       19,604        -   1,123        -   6,153
  U.S. Treasury--general account                                 4,382        +     848        +     936
  Foreign--official accounts                                       162        -      24        +       1
    Other                                                          398        +      45        +       7
      Total deposits                                            24,547        -     253        -   5,209
Deferred availability cash items                    (429)        7,016        -     501        +     832
Other liabilities and accrued dividends (5)                      4,761        +     160        -     190
                TOTAL LIABILITIES                   (429)      488,556        +   1,308        +  24,364
					      
                CAPITAL ACCOUNTS
Capital paid in                                                  5,488        +      17        +     698
Surplus                                                          5,215        +      13        +     719
Other capital accounts                                             519        +     399        -     105

*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 
   $ 24 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
3  Net of $ 16,947 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes $ 30 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 $ 194 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,      April 8, 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        942          0     Within 15 days          10,052   -   6,944      1,043   -      45
16 to 90 days          27          0     16 to 90 days           96,949   +      74         14           0
Over 90 days            0          0     91 days to 1 year      141,923   +   6,733        175           0
                                         Over 1 to 5 years       97,095           0        126           0
                                         Over 5 to 10 years      40,126   +       1        225           0
                                         Over 10 years           50,376           0         25           0
    Total             969          0         Total              436,522   -     136      1,608   -      45

1  Includes $ 2,050 million of inflation-indexed securities valued at the original face amount and 
   $ 24 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 8, 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                      11,049        624      3,936        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                                             510         31         32         55         31         64         39         68         15         24         43         35         74
				       
Loans                                            969          3        300         11          0        620          9         10          3          6          2          0          4
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Federal agency obligations	       
  Bought outright                                625         38        202         21         43         59         42         67         25          9         18         23         79
  Held under repurchase agreements(1)            983          0        983          0          0          0          0          0          0          0          0          0          0
U.S. government securities	       
  Bought outright--Bills                     195,203     11,900     63,139      6,526     13,502     18,573     13,026     20,821      7,775      2,719      5,574      7,089     24,560
                   Notes (2)                 177,806     10,840     57,512      5,944     12,299     16,918     11,865     18,966      7,082      2,476      5,077      6,457     22,371
                   Bonds                      61,488      3,748     19,888      2,056      4,253      5,850      4,103      6,559      2,449        856      1,756      2,233      7,736
     Total bought outright(3)                434,497     26,488    140,538     14,526     30,055     41,341     28,994     46,345     17,305      6,051     12,407     15,779     54,667
  Held under repurchase agreements(1)          2,025          0      2,025          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             436,522     26,488    142,563     14,526     30,055     41,341     28,994     46,345     17,305      6,051     12,407     15,779     54,667
       Total loans and securities            439,099     26,529    144,049     14,558     30,098     42,020     29,045     46,422     17,334      6,066     12,427     15,802     54,749
				       
Items in process of collection                 8,912        536      1,036        301        554        707      1,092        610        367        617        612        442      2,038
Bank premises                                  1,283         94        157         50        142        126         81        107         32        132         54        150        159
Other assets(4)                               30,154      1,521      8,551      1,280      1,877      3,815      1,897      3,027        854        803        734      1,315      4,477
Interdistrict settlement account                   0     -4,060    +27,867     -2,302     -2,547    -10,372     -1,797     -5,217     -2,513       -428       +958     +7,221     -6,811
          TOTAL ASSETS                       500,207     25,804    188,829     14,574     31,399     38,118     31,682     46,986     16,829      7,484     15,362     25,791     57,347

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 
   $ 24 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
3  Net of $ 16,947 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes $ 30 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 $ 194 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 8, 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                        452,232     22,507    176,721     12,725     29,057     33,272     27,998     42,079     15,459      5,425     13,663     23,173     50,153
Deposits			      	      
  Depository institutions                     19,604      2,042      3,009        776        933      1,914      1,738      2,574        668      1,025        769      1,493      2,664
  U.S. Treasury--general account               4,382          0      4,382          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                     162          7         47          8          9         22          9         14          3          5          3          7         26
  Other                                          398          3         97          0          3         96          1        196          0          0          1          1          1
    Total deposits                            24,547      2,052      7,535        784        945      2,033      1,748      2,783        672      1,031        773      1,501      2,690
Deferred credit items                          7,445        462        797        249        324        641        857        541        251        553        483        350      1,936
Other liabilities and accrued	      	      
  dividends (1)                                4,761        288      1,433        189        321        447        341        501        202        102        169        194        573
    TOTAL LIABILITIES                        488,985     25,309    186,486     13,947     30,648     36,392     30,944     45,905     16,584      7,111     15,089     25,218     55,352
				      	      
       CAPITAL ACCOUNTS		      	      
Capital paid in                                5,488        211      1,119        319        375        856        364        527        116        190        134        290        987
Surplus                                        5,215        254      1,055        273        335        818        338        502        122        183        119        271        945
Other capital accounts                           519         31        168         35         41         53         36         52          8          0         21         12         63
     TOTAL LIABILITIES AND CAPITAL    	      
        ACCOUNTS                             500,207     25,804    188,829     14,574     31,399     38,118     31,682     46,986     16,829      7,484     15,362     25,791     57,347
				      	      
FEDERAL RESERVE AGENTS' ACCOUNTS      	      
				      	      
F.R. notes outstanding                       555,850     26,971    216,243     15,694     32,087     39,768     36,248     50,651     17,663      6,811     15,770     28,463     69,481
  Less--Held by F.R. Banks                   103,618      4,464     39,522      2,969      3,030      6,496      8,251      8,572      2,204      1,386      2,107      5,290     19,327
  F.R. notes, net                            452,232     22,507    176,721     12,725     29,057     33,272     27,998     42,079     15,459      5,425     13,663     23,173     50,153
Collateral held against F.R. notes    	      
   Gold certificate account                   11,049
   Special drawing rights	      	      
     certificate account                       9,200
   Other eligible assets                           0
   U.S. govt. and agency securities          431,983
     Total collateral                        452,232

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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