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Annual Report Home | Introduction | Chairman's Message
Monetary Policy | Bank Supervision | Financial Services | Conclusion
Financial Statements | Boards of Directors, Economic Advisory Council, and Officers

December 31, 1997

December 31, 1996

Assets

Gold certificates

$

401

$

474

Special drawing rights certificates

340

419

Coin

15

29

Items in process of collection

93

666

Loans to depository institutions

4

29

U.S. government and federal agency securities, net

17,286

18,470

Investments denominated in foreign currencies

424

476

Accrued interest receivable

163

166

Bank premises and equipment, net

50

47

Other assets

10

9

Total assets

$

18,786

$

20,785

Liabilities and Capital
Liabilities:

Federal Reserve notes, net deposits:

$

16,422

$

16,769

Depository institutions

1,244

718

Other deposits

5

4

Deferred credit items

252

292

Statutory surplus transfer due U.S. Treasury

27

32

Interdistrict settlement account

534

2,694

Accrued benefit cost

46

44

Other liabilities

7

6

Total liabilities

$

18,537

$

20,559

Capital:

Capital paid-in

$

127

$

114

Surplus

122

112

Total capital

$

249

$

226

Total liabilities and capital

$

18,786

$

20,785

December 31, 1997

December 31, 1996

Interest Income

Interest on U.S. government securities

$

1,052

$

1,100

Interest on foreign currencies

9

11

Interest on loans to depository institutions

2

1

Total interest income

$

1,063

$

1,112

Other Operating Income (loss)

Income from services

$

38

$

36

Reimbursable services to government agencies

11

9

Foreign currency losses, net

(65)

(41)

Government securities gains, net

1

1

Other income

0

1

Total other operating income (loss)

$

(15)

$

6

Operating Expenses

Salaries and other benefits

$

60

$

58

Occupancy expense

6

6

Equipment expense

6

6

Cost of unreimbursed Treasury services

2

2

Assessments by Board of Governors

19

23

Other expenses

43

37

Total operating expenses

$

136

$

132

Net income available for distribution

$

912

$

986

Distribution of Income

Dividends paid to member banks

$

(7)

$

(6)

Payments to U.S. Treasury

(892)

(964)

Transferred to surplus

13

16

Surplus January 1

112

98

Statutory surplus transferred to Treasury, October 1

(3)

(2)

Surplus, December 31

$

122

$

112

Copies of full financial statements complete with footnotes are available by contacting the Public Affairs Department of the Federal Reserve Bank of St. Louis, Post Office Box 442, St. Louis, Missouri 63166.

Number Handled

Dollar Amount (millions)

1997

1996

1997

1996

Services to Depository Institutions

Check Services:

U.S. government checks

24,937,000

27,997,000

$

20,346

$

23,136

Postal money orders

203,693,000

205,751,000

26,464

25,831

Commercial

889,178,000

772,722,000

447,523

424,068

ACH commercial items originated

132,877,974

*

271,629

*

U.S. government coupons paid

5,104

6,462

2

3

Currency received and counted

926,091,000

897,807,000

12,751

12,436

Wire transfer of funds

4,224,846

4,007,146

6,189,319

5,932,532

Loans to depository institutions

681

577

981

1,597

Services to U.S. Treasury

Transfer of government securities

152,705

150,865

252,714

277,722

Food stamps redeemed

223,239,000

268,116,000

1,081

1,342

* Prior-year comparison not meaningful because of change in method of data collection.