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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
                                                                                                February 20,  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      Feb 19, 1997   Feb 12, 1997    Feb 21, 1996  Feb 19, 1997
 
Reserve Bank Credit  (1,2)                                     434,448   +       1,912   +    25,496   435,331
  U.S. government securities
    Bought outright-system account (3)                         391,882   +         215   +    16,704   393,208
    Held under repurchase agreements                             7,011   +       2,334   +     7,011     8,390
  Federal agency obligations
    Bought outright                                              2,038               0   -       596     2,038
    Held under repurchase agreements                             1,787   -         784   +     1,787       564
  Acceptances                                                        0               0             0         0
  Loans to depository institutions
    Adjustment credit                                               17   -           2   +         9         8
    Seasonal credit                                                 22   +           4   +        15        23
    Extended credit                                                  0               0             0         0
   Float                                                           462   +         170   -       920     1,533
   Other F.R. assets                                            31,228   -          27   +     1,486    29,568
Gold stock                                                      11,051   +           2   -         2    11,051
Special drawing rights certificate account                       9,400               0   -       768     9,400
Treasury currency outstanding                                   25,079   +          14   +       921    25,079
        Total factors supplying reserve funds                  479,978   +       1,928   +    25,646   480,861
 
Currency in circulation*                                       442,177   +       2,035   +    28,858   442,721
Treasury cash holdings*                                            262   +           1   -        17       264
Deposits,other than reserve balances,with F.R.Banks
  Treasury                                                       5,002   +         174   -       135     5,571
  Foreign                                                          165   -           2   -        55       164
  Service-related balances and adjustments (4)                   7,043   -         231   +     1,259     7,043
  Other                                                            357   -          34   -        36       329
Other F.R. liabilities and capital                              14,273   +         300   +     1,494    14,171
        Total factors, other than reserve balances,
        absorbing reserve funds                                469,279   +       2,243   +    31,369   470,262
 
Reserve balances with F.R. Banks  (5)                           10,699   -         315   -     5,722    10,599
 
On   February 19, 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 $ 630,961 million, a change of + $ 5,111 million for the week.  The total includes the face
value of U.S. Treasury strips and other zero coupon bonds.
1  Net of $ 13,446 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which
    a net of $ 13,446 million was with foreign official and international accounts.  Includes securities loaned--fully secured by U.S. 
   government securities.
2 Net of $ 12,924 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of
   $ 12,924 million was with foreign official and international accounts.  Includes $ 90 million securities loaned--fully
   secured U.S. government securities.
3 Includes $ 350 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 Consists of required clearing balances of $ 6,787 million and adjustments of $ 256 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
                                                         Feb 19, 1997   Feb 12, 1997     Feb 21, 1996
                                 ASSETS
Gold certificate account                                     11,051       +         1      -         2
Special drawing rights certificate account                    9,400                 0      -       768
Coin                                                            730       +         8      +       180
 
Loans                                                            31                 0      +        19
Acceptances                                                       0                 0                0
Federal agency obligations
  Bought outright                                             2,038                 0      -       596
  Held under repurchase agreements (1)                          564       -     2,535      +       564
U.S. government securities
  Bought outright--Bills                                    192,079       -       139      +    10,227
                   Notes (2)                                151,340       +       675      +     2,455
                   Bonds                                     49,789       +       450      +     4,820
    Total bought outright (3)                               393,208       +       985      +    17,502
  Held under repurchase agreements (1)                        8,390       +        25      +     8,390
     Total U.S. government securities                       401,598       +     1,010      +    25,892
       Total loans and securities                           404,230       -     1,525      +    25,879
 
Items in process of collection              (490)            10,970       +     4,859      -     2,231
Bank premises                                                 1,243                 0      +       101
Other assets (4)                                             28,369       -     2,079      -       354
              TOTAL ASSETS                  (490)           465,993       +     1,263      +    22,805
 
                             LIABILITIES
Federal Reserve notes                                       418,636       +     1,090      +    27,850
Deposits
  Depository institutions                                    18,135       -     3,654      -     7,561
  U.S. Treasury--general account                              5,571       +       436      +       379
  Foreign--official accounts                                    164       -        17      -       130
    Other                                                       329       -        55      -        39
      Total deposits                                         24,199       -     3,290      -     7,352
Deferred availability cash items            (490)             8,987       +     3,421      +       778
Other liabilities and accrued dividends (5)                   4,601       -       121      +       409
             TOTAL LIABILITIES              (490)           456,423       +     1,099      +    21,685
                                                                                           
                               CAPITAL ACCOUNTS                                            
Capital paid in                                               4,704       +         2      +       668
Surplus                                                       4,445       +        72      +       506
Other capital accounts                                          421       +        91      -        54
                                                                          
 
*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 $ 350 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.
3 Net of $ 12,924 million matched sale-purchase transactions outstanding at the end of the latest statement week.  Includes
   $ 90 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, FEBRUARY 19, 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      31        0  Within 15 days              22,495  +          4,330      911  -           2215
16 days to 90       0        0  16 days to 90 days          88,839  -          1,791      455  -            320
Over 90 days        0        0  91 days to 1 year          122,057  -            101      245                 0
                                Over 1 year to 5 years      91,419  -          2,258      510                 0
                                Over 5 years to 10 years    35,909  +          1,777      457                 0
                                Over 10 years               40,880  -            946       25                 0
    Total          31        0       Total                 401,598  +          1,010     2602  -           2535
 
1 Includes $ 350 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.
Components may not add to totals due to rounding.
 
 
 
 
H.4.1 (b)
 
STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 19, 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         661       4,052         423         624         919         769       1,140         474         168         321         433       1,067
Special drawing rights certif. acct.          9,400         541       3,272         289         586         809         615         920         348         125         252         375       1,268
Coin                                            730          22          35          56          35         129          96          85          37          25          58          63          88
 
Loans                                            31           7           0           0           4           0           2           3           4           6           5           0           0
Acceptances                                       0           0           0           0           0           0           0           0           0           0           0           0           0
Federal agency obligations
  Bought outright                             2,038         120         758          79         120         169         136         221          95          31          64          73         173
  Held under repurchase agreements(1)           564           0         564           0           0           0           0           0           0           0           0           0           0
U.S. government securities
  Bought outright--Bills                    192,079      11,302      71,433       7,434      11,290      15,928      12,819      20,816       8,998       2,897       6,016       6,878      16,268
                   Notes (2)                151,340       8,905      56,283       5,857       8,895      12,550      10,100      16,401       7,090       2,282       4,740       5,419      12,818
                   Bonds                     49,789       2,929      18,516       1,927       2,926       4,129       3,323       5,396       2,332         751       1,560       1,783       4,217
     Total bought outright(3)               393,208      23,136     146,232      15,218      23,111      32,606      26,241      42,613      18,420       5,930      12,316      14,080      33,303
  Held under repurchase agreements(1)         8,390           0       8,390           0           0           0           0           0           0           0           0           0           0
     Total U.S. govt. securities            401,598      23,136     154,622      15,218      23,111      32,606      26,241      42,613      18,420       5,930      12,316      14,080      33,303
       Total loans and securities           404,230      23,263     155,944      15,297      23,235      32,775      26,378      42,837      18,520       5,967      12,385      14,153      33,476
 
Items in process of collection               11,460         600       1,470         496         732       1,032       1,423         970         593         764         624         605       2,150
Bank premises                                 1,243          95         151          50         111         128          80         110          31         118          56         154         160
Other assets(4)                              28,369       1,160       8,807       1,408       1,635       2,096       2,255       3,132         822         559         961       1,329       4,204
Interdistrict settlement account                  0         -76      -16083       -3502        3729        3024       -2211       -1633       -3272       -1187       -1458        3961       18708
          TOTAL ASSETS                      466,483      26,265     157,647      14,517      30,688      40,912      29,407      47,561      17,553       6,538      13,200      21,074      61,121
 
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 $ 350 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.
3 Net of $ 12,924 million matched sale-purchase transactions outstanding at the end of the latest statement week.  Includes $ 90 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 FEBRUARY 19, 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                       418,636      24,001     143,274      12,558      28,536      37,404      25,090      42,753      16,176       5,142      11,538      18,235      53,929
Deposits
  Depository institutions                    18,135       1,037       3,531         838         872       1,594       2,052       2,191         569         389         582       1,584       2,896
  U.S. Treasury--general account              5,571           0       5,571           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                                         329           0         111           1           2          48           8         152           0           1           1           1           2
    Total deposits                           24,199       1,043       9,266         848         883       1,652       2,073       2,360         572         393         589       1,593       2,925
Deferred credit items                         9,477         563       1,207         367         420         834         991         840         339         688         534         556       2,138
Other liabilities and accrued
  dividends (1)                               4,601         273       1,593         200         268         377         324         489         219         102         176         181         401
    TOTAL LIABILITIES                       456,912      25,880     155,340      13,973      30,107      40,266      28,479      46,441      17,306       6,325      12,837      20,565      59,393  
 
       CAPITAL ACCOUNTS
Capital paid in                               4,704         182       1,077         274         282         312         461         542         115         107         178         258         916
Surplus                                       4,445         168       1,023         268         286         310         415         524         112         105         171         252         812
Other capital accounts                          421          35         207           2          13          23          52          53          20           1          15           0           0
     TOTAL LIABILITIES AND CAPITAL
        ACCOUNTS                            466,483      26,265     157,647      14,517      30,688      40,912      29,407      47,561      17,553       6,538      13,200      21,074      61,121
 
 
FEDERAL RESERVE AGENTS' ACCOUNTS
 
F.R. notes outstanding                      523,596      29,937     185,337      15,643      32,157      43,926      33,012      50,556      18,885       6,815      13,704      23,850      69,774
  Less--Held by F.R. Banks                  104,961       5,936      42,063       3,085       3,621       6,522       7,922       7,803       2,709       1,673       2,166       5,615      15,846
  F.R. notes, net                           418,636      24,001     143,274      12,558      28,536      37,404      25,090      42,753      16,176       5,142      11,538      18,235      53,929
Collateral held against F.R. notes
   Gold certificate account                  11,051
   Special drawing rights
     certificate account                      9,400
   Other eligible assets                          0
   U.S. govt. and agency securities         398,185
     Total collateral                       418,636
 
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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