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 July 1, 1999 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 Jun 30, 1999 Jun 23, 1999 Jul 1, 1998 Jun 30, 1999 Reserve Bank Credit (1,2) 526,643 + 7,447 + 34,828 532,899 U.S. government securities Bought outright-system account (3) 485,755 + 457 + 45,171 484,866 Held under repurchase agreements 4,259 + 4,215 - 10,694 9,100 Federal agency obligations Bought outright 260 - 3 - 280 259 Held under repurchase agreements 3,331 + 2,494 + 1,866 5,179 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 20 - 6 - 172 56 Seasonal credit 173 + 31 - 15 164 Extended credit 0 0 0 0 Float 6 - 379 - 472 307 Other F.R. assets 32,841 + 639 - 574 32,968 Gold stock 11,046 - 1 - 1 11,046 Special drawing rights certificate account 8,200 0 - 1,000 8,200 Treasury currency outstanding 26,869 + 14 + 1,083 26,869 Total factors supplying reserve funds 572,758 + 7,460 + 34,909 579,014 Currency in circulation* 528,899 + 1,069 + 46,760 531,892 Treasury cash holdings* 90 + 1 - 114 90 Deposits,other than reserve balances,with F.R.Banks Treasury 6,823 - 200 - 11,894 6,720 Foreign 223 + 12 + 51 410 Service-related balances and adjustments (4) 7,220 + 194 + 202 7,220 Other 202 - 10 - 114 241 Other F.R. liabilities and capital 17,960 + 391 + 868 17,662 Total factors, other than reserve balances, absorbing reserve funds 561,418 + 1,458 + 35,760 564,235 Reserve balances with F.R. Banks (5) 11,340 + 6,002 - 852 14,780 On June 30, 1999, the face amount of marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts was 600,816 million, a change of +$ 671 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 16,680 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 16,680 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 17,572 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 17,572 million was with foreign official and international accounts. Includes $ 1,000 million securities loaned--fully secured U.S. government securities. 3 Includes $ 4,740 million of inflation-indexed securities valued at the original face amount and $ 150 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,634 million and adjustments of $ 586 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 Jun 30, 1999 Jun 23, 1999 Jul 1, 1998 ASSETS Gold certificate account 11,046 0 - 1 Special drawing rights certificate account 8,200 0 - 1,000 Coin 311 - 26 - 78 Loans 220 - 74 - 493 Acceptances 0 0 0 Federal agency obligations Bought outright 259 - 4 - 267 Held under repurchase agreements (1) 5,179 + 4,072 + 4,764 U.S. government securities Bought outright--Bills 198,127 - 385 + 114 Notes (2) 208,855 + 6 + 28,261 Bonds (3) 77,884 + 2 + 15,969 Total bought outright (4) 484,866 - 377 + 44,344 Held under repurchase agreements (1) 9,100 + 9,050 - 2,506 Total U.S. government securities 493,966 + 8,673 + 29,932 Total loans and securities 499,624 + 12,667 + 45,843 Items in process of collection (706) 7,765 + 853 - 739 Bank premises 1,321 + 1 + 31 Other assets (5) 31,697 + 618 + 161 TOTAL ASSETS (706) 559,964 + 14,114 + 44,216 LIABILITIES Federal Reserve notes 505,423 + 2,966 + 45,703 Deposits Depository institutions 22,156 + 10,132 - 1,334 U.S. Treasury--general account 6,720 - 165 - 1,146 Foreign--official accounts 410 + 236 + 244 Other (0) 241 + 42 - 72 Total deposits (0) 29,527 + 10,245 - 2,307 Deferred availability cash items (706) 7,352 + 534 - 293 Other liabilities and accrued dividends (6) 4,654 + 452 - 79 TOTAL LIABILITIES (706) 546,956 + 14,197 + 43,023 CAPITAL ACCOUNTS Capital paid in 6,282 - 9 + 473 Surplus 5,952 0 + 732 Other capital accounts 775 - 74 - 11 *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 $ 3,570 million of inflation-indexed securities valued at the original face amount and $ 124 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Includes $ 1,170 million of inflation-indexed securities valued at the original face amount and $ 26 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 17,572 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 1,000 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 $ 0 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, June 30, 1999 Holdings of securities include securitites held under repurchase agreements, which are classified according to remaining maturity. Millions of dollars U.S. government Federal agency Loans Acceptances securities (1) obligations Weekly Weekly Holdings changes Holdings changes Within 15 days 149 0 Within 15 days 24,353 + 10,358 5,184 + 4,073 16 to 90 days 71 0 16 to 90 days 92,490 - 8,652 16 - 5 Over 90 days 0 0 91 days to 1 year 142,621 + 6,617 68 0 Over 1 to 5 years 122,393 + 345 20 0 Over 5 to 10 years 49,487 + 4 150 0 Over 10 years 62,623 + 2 0 0 Total 220 0 Total 493,966 + 8,673 5,438 + 4,068 1 Includes $ 4,740 million of inflation-indexed securities valued at the original face amount and $ 150 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 June 30, 1999 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco ASSETS Gold certificate account 11,046 533 4,433 319 566 834 724 993 337 140 313 575 1,279 Special drawing rights certif. acct. 8,200 406 3,215 247 396 683 596 725 232 103 231 451 915 Coin 311 9 13 39 11 36 38 28 18 21 22 41 34 Loans 220 6 0 2 0 0 41 49 35 45 23 0 19 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 259 13 103 8 15 19 16 24 9 3 8 13 28 Held under repurchase agreements(1) 5,179 0 5,179 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 198,127 10,246 78,903 5,934 11,469 14,905 12,060 18,608 6,517 2,370 5,941 9,872 21,302 Notes (2) 208,855 10,801 83,176 6,256 12,090 15,712 12,713 19,616 6,870 2,498 6,263 10,407 22,455 Bonds (3) 77,884 4,028 31,017 2,333 4,508 5,859 4,741 7,315 2,562 931 2,336 3,881 8,374 Total bought outright(4) 484,866 25,074 193,096 14,523 28,066 36,476 29,513 45,539 15,949 5,799 14,540 24,160 52,131 Held under repurchase agreements(1) 9,100 0 9,100 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 493,966 25,074 202,196 14,523 28,066 36,476 29,513 45,539 15,949 5,799 14,540 24,160 52,131 Total loans and securities 499,624 25,093 207,478 14,532 28,081 36,496 29,570 45,612 15,993 5,847 14,570 24,172 52,178 Items in process of collection 8,472 435 1,145 384 486 591 749 849 204 660 486 359 2,122 Bank premises 1,321 93 163 50 157 124 103 107 31 129 52 147 164 Other assets(5) 31,697 1,409 10,945 948 1,833 4,264 1,958 2,786 779 708 791 1,286 3,989 Interdistrict settlement account 0 - 187 - 4,359 + 8,385 - 1,859 -10,824 - 1,722 + 8,706 + 2,704 - 2,661 + 2,675 - 947 + 89 TOTAL ASSETS 560,670 27,791 223,034 24,904 29,671 32,205 32,017 59,806 20,299 4,948 19,141 26,084 60,771 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 $ 3,570 million of inflation-indexed securities valued at the original face amount and $ 124 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Includes $ 1,170 million of inflation-indexed securities valued at the original face amount and $ 26 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 17,572 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 1,000 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 $ 0 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 June 30, 1999 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco LIABILITIES Federal Reserve notes 505,423 25,708 202,202 23,552 26,797 27,049 28,455 55,434 18,849 2,868 17,365 23,943 53,201 Deposits Depository institutions 22,156 806 7,926 550 1,278 1,499 1,442 2,083 633 908 818 1,140 3,073 U.S. Treasury--general account 6,720 0 6,720 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 410 7 294 4 10 30 10 14 3 5 3 6 24 Other 241 0 150 1 1 42 13 6 13 0 11 1 3 Total deposits 29,527 813 15,090 555 1,289 1,571 1,465 2,103 649 913 832 1,147 3,099 Deferred credit items 8,058 452 931 238 482 643 919 632 332 646 443 322 2,016 Other liabilities and accrued dividends (1) 4,654 226 1,984 152 250 322 286 400 159 84 155 215 421 TOTAL LIABILITIES 547,662 27,199 220,208 24,498 28,818 29,585 31,124 58,569 19,989 4,512 18,796 25,626 58,737 CAPITAL ACCOUNTS Capital paid in 6,282 285 1,314 193 416 1,301 433 601 148 217 167 210 997 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 775 39 304 37 38 82 41 53 41 16 37 21 65 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 560,670 27,791 223,034 24,904 29,671 32,205 32,017 59,806 20,299 4,948 19,141 26,084 60,771 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 726,892 32,059 291,452 28,206 33,392 51,017 49,230 68,753 24,443 11,400 24,014 36,494 76,431 Less--Held by F.R. Banks 221,469 6,351 89,251 4,654 6,594 23,968 20,775 13,319 5,595 8,532 6,649 12,551 23,230 F.R. notes, net 505,423 25,708 202,202 23,552 26,797 27,049 28,455 55,434 18,849 2,868 17,365 23,943 53,201 Collateral held against F.R. notes Gold certificate account 11,046 Special drawing rights certificate account 8,200 Other eligible assets 0 U.S. govt. and agency securities 486,177 Total collateral 505,423 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.