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 8, 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 Jul 7, 1999 Jun 30, 1999 Jul 8, 1998 Jul 7, 1999 Reserve Bank Credit (1,2) 525,718 - 902 + 46,286 525,588 U.S. government securities Bought outright-system account (3) 485,758 + 3 + 45,404 485,449 Held under repurchase agreements 1,213 - 3,046 - 3,424 1,425 Federal agency obligations Bought outright 259 - 1 - 267 259 Held under repurchase agreements 4,996 + 1,665 + 4,181 4,246 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 47 + 27 + 43 32 Seasonal credit 186 + 13 - 10 191 Extended credit 0 0 0 0 Float 744 + 762 - 25 1,154 Other F.R. assets 32,515 - 326 + 383 32,833 Gold stock 11,046 0 - 1 11,046 Special drawing rights certificate account 8,200 0 - 1,000 8,200 Treasury currency outstanding 26,883 + 14 + 1,084 26,883 Total factors supplying reserve funds 571,847 - 888 + 46,368 571,717 Currency in circulation* 534,255 + 5,356 + 48,172 536,102 Treasury cash holdings* 90 0 - 111 92 Deposits,other than reserve balances,with F.R.Banks Treasury 5,766 - 1,057 - 190 5,707 Foreign 207 - 16 + 31 260 Service-related balances and adjustments (4) 6,930 - 290 - 154 6,930 Other 264 + 62 - 37 262 Other F.R. liabilities and capital 17,513 - 447 + 766 17,348 Total factors, other than reserve balances, absorbing reserve funds 565,026 + 3,608 + 48,479 566,701 Reserve balances with F.R. Banks (5) 6,820 - 4,497 - 2,112 5,016 On July 7, 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 601,648 million, a change of +$ 832 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 16,682 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 16,682 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 16,991 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 16,991 million was with foreign official and international accounts. Includes $ 1,200 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 $ 152 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,734 million and adjustments of $ 197 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 Jul 7, 1999 Jun 30, 1999 Jul 8, 1998 ASSETS Gold certificate account 11,046 0 - 1 Special drawing rights certificate account 8,200 0 - 1,000 Coin 293 - 18 - 84 Loans 222 + 2 + 19 Acceptances 0 0 0 Federal agency obligations Bought outright 259 0 - 267 Held under repurchase agreements (1) 4,246 - 933 + 3,777 U.S. government securities Bought outright--Bills 198,709 + 582 + 891 Notes (2) 208,856 + 1 + 28,261 Bonds (3) 77,884 0 + 15,969 Total bought outright (4) 485,449 + 583 + 45,121 Held under repurchase agreements (1) 1,425 - 7,675 - 3,469 Total U.S. government securities 486,874 - 7,092 + 36,758 Total loans and securities 491,601 - 8,023 + 45,181 Items in process of collection (550) 11,314 + 3,549 + 4,587 Bank premises 1,321 0 + 27 Other assets (5) 31,511 - 186 + 443 TOTAL ASSETS (550) 555,287 - 4,677 + 49,153 LIABILITIES Federal Reserve notes 509,604 + 4,181 + 47,097 Deposits Depository institutions 12,452 - 9,704 - 2,878 U.S. Treasury--general account 5,707 - 1,013 + 773 Foreign--official accounts 260 - 150 + 111 Other (0) 262 + 21 - 13 Total deposits (0) 18,682 - 10,845 - 2,007 Deferred availability cash items (550) 9,654 + 2,302 + 3,293 Other liabilities and accrued dividends (6) 4,297 - 357 - 340 TOTAL LIABILITIES (550) 542,236 - 4,720 + 48,042 CAPITAL ACCOUNTS Capital paid in 6,280 - 2 + 469 Surplus 5,952 0 + 732 Other capital accounts 819 + 44 - 89 *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 $ 125 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 $ 16,991 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 1,200 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, July 7, 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 80 0 Within 15 days 12,385 - 11,968 4,251 - 933 16 to 90 days 142 0 16 to 90 days 99,693 + 7,203 26 + 10 Over 90 days 0 0 91 days to 1 year 140,291 - 2,330 58 - 10 Over 1 to 5 years 122,393 0 20 0 Over 5 to 10 years 49,488 + 1 150 0 Over 10 years 62,623 0 0 0 Total 222 0 Total 486,874 - 7,092 4,505 - 933 1 Includes $ 4,740 million of inflation-indexed securities valued at the original face amount and $ 152 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 July 7, 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 293 7 14 37 11 34 36 26 16 19 21 42 32 Loans 222 2 0 0 28 0 9 43 42 56 26 0 16 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) 4,246 0 4,246 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 198,709 10,276 79,135 5,952 11,502 14,949 12,095 18,663 6,536 2,377 5,959 9,901 21,364 Notes (2) 208,856 10,801 83,176 6,256 12,090 15,712 12,713 19,616 6,870 2,498 6,263 10,407 22,456 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) 485,449 25,104 193,328 14,540 28,100 36,520 29,549 45,594 15,968 5,806 14,558 24,189 52,194 Held under repurchase agreements(1) 1,425 0 1,425 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 486,874 25,104 194,753 14,540 28,100 36,520 29,549 45,594 15,968 5,806 14,558 24,189 52,194 Total loans and securities 491,601 25,119 199,102 14,548 28,143 36,540 29,574 45,661 16,019 5,865 14,591 24,202 52,238 Items in process of collection 11,864 691 1,555 470 647 1,090 1,323 1,095 -183 876 765 561 2,973 Bank premises 1,321 93 163 50 157 124 104 107 31 129 52 147 164 Other assets(5) 31,511 1,428 10,539 959 1,857 4,295 1,984 2,820 791 713 803 1,305 4,016 Interdistrict settlement account 0 - 489 - 2,243 + 9,187 - 2,109 -11,311 - 2,297 + 8,394 + 3,260 - 3,119 + 2,375 - 1,058 - 589 TOTAL ASSETS 555,837 27,788 216,777 25,816 29,668 32,289 32,043 59,821 20,503 4,726 19,152 26,226 61,028 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 $ 125 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 $ 16,991 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 1,200 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 July 7, 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 509,604 25,708 202,810 24,438 27,083 27,322 28,805 55,926 19,052 2,937 17,537 24,323 53,664 Deposits Depository institutions 12,452 669 2,218 511 913 1,064 1,122 1,524 500 445 617 766 2,103 U.S. Treasury--general account 5,707 0 5,707 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 260 7 144 4 10 30 10 14 3 5 3 6 24 Other 262 0 150 0 1 78 10 1 10 0 9 1 2 Total deposits 18,682 676 8,220 516 923 1,171 1,142 1,539 513 451 629 773 2,129 Deferred credit items 10,204 584 1,308 309 552 837 913 711 467 816 483 455 2,768 Other liabilities and accrued dividends (1) 4,297 226 1,616 154 246 324 293 399 159 84 155 216 425 TOTAL LIABILITIES 542,786 27,193 213,953 25,417 28,805 29,654 31,153 58,576 20,191 4,288 18,804 25,766 58,985 CAPITAL ACCOUNTS Capital paid in 6,280 285 1,314 194 416 1,301 430 601 149 217 167 210 997 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 819 42 302 30 48 97 41 61 43 19 40 22 75 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 555,837 27,788 216,777 25,816 29,668 32,289 32,043 59,821 20,503 4,726 19,152 26,226 61,028 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 728,786 32,079 291,756 28,978 33,548 50,935 49,360 69,011 24,559 11,389 24,057 36,543 76,571 Less--Held by F.R. Banks 219,183 6,371 88,947 4,540 6,465 23,613 20,555 13,085 5,508 8,452 6,520 12,220 22,907 F.R. notes, net 509,604 25,708 202,810 24,438 27,083 27,322 28,805 55,926 19,052 2,937 17,537 24,323 53,664 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 490,358 Total collateral 509,604 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.