Comparative Financial Statements

Statement of Condition
(in millions)

	For the year ended:
	December 31, 1997	December 31, 1996
Assets
Gold certificates	$669	$624
Special drawing rights certificates	574	543
Coin	27	25
Items in process of collection	352	688
U.S. government and federal agency     securities, net	30,020	23,173
Investments denominated in foreign   currencies	1,083	1,257
Accrued interest receivable	284	209
Interdistrict settlement account	0	5,007
Bank premises and equipment, net	162	131
Other assets	22	23
Total assets	$33,193	$31,680
Liabilities and Capital
Liabilities
Federal Reserve notes outstanding, net	$28,441	$29,861
Deposits:
Depository institutions	1,815	856
Other deposits	11	15
Deferred credit items	235	280
Statutory surplus transfer due U.S.  Treasury	52	37
Interdistrict settlement account	1,888	0
Accrued benefit cost	46	43
Other liabilities	21	10
Total liabilities	32,509	31,102
Capital
Capital paid in	349	292
Surplus	335	286
Total capital	684	578
Total liabilities and capital	$33,193	$31,680

These statements are prepared by Bank management. Copies of full and final financial statements, complete with footnotes, are available by writing to the Corporate Communications & Community Affairs Department of the Federal Reserve Bank of Cleveland, P.O. Box 6387, Cleveland, OH 44101, or by calling (216) 579-2001 (key in 1-5-3).