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 October 28, 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 Oct 27, 1999 Oct 20, 1999 Oct 28, 1998 Oct 27, 1999 Reserve Bank Credit 543,576 - 890 + 55,403 548,135 U.S. government securities (1) Bought outright-system account (2,3) 490,711 - 196 + 43,502 492,051 Held under repurchase agreements 0 0 - 2,025 0 Federal agency obligations (1) Bought outright 194 - 4 - 194 188 Held under repurchase agreements 0 0 - 3,457 0 Repurchase agreements -- triparty (4) 17,061 - 1,062 + 17,061 20,065 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 40 + 25 + 27 27 Seasonal credit 191 - 33 + 100 174 Special Liquidity Facility 7 + 6 + 7 10 Extended credit 0 0 0 0 Float 325 - 230 + 59 278 Other F.R. assets 35,049 + 605 + 325 35,342 Gold stock 11,050 0 + 10 11,050 Special drawing rights certificate account 7,200 0 - 2,000 7,200 Treasury currency outstanding 27,410 + 14 + 1,340 27,410 Total factors supplying reserve funds 589,236 - 875 + 54,754 593,795 Currency in circulation* 553,096 + 1,555 + 56,459 555,448 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 92 - 2 + 2 94 Deposits,other than reserve balances,with F.R.Banks Treasury 5,206 - 215 - 120 4,363 Foreign 180 - 7 - 26 172 Service-related balances and adjustments (5) 7,065 - 31 + 205 7,065 Other 260 - 31 - 164 223 Other F.R. liabilities and capital 18,242 - 90 + 1,054 17,951 Total factors, other than reserve balances, absorbing reserve funds 584,142 + 1,179 + 57,411 585,317 Reserve balances with F.R. Banks (6) 5,094 - 2,054 - 2,657 8,478 On October 27, 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 608,148 million, a change of -$ 1,509 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Face value of the securities. 2 Net of $ 16,688 million (daily average over statement week) and $ 15,350 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 15,902 million (daily average) and $ 15,350 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,492 million (daily average) and $ 1,981 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 5,476 million of inflation-indexed securities valued at the original face amount and $ 189 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Cash value of agreements arranged through third-party custodial banks. These agreements are collateralized by U.S. government and federal agency securities. 5 Consists of required clearing balances of $ 6,799 million and adjustments of $ 266 million to compensate for float. 6 Excludes required clearing balances and adjustments to compensate for float. * Estimated (Treasury's figures). Components may not add to totals due to rounding. Note: on October 27, 1999, option contracts on repurchase agreements were outstanding as follows: $ 23,950 million with exercise dates from December 23, 1999 through December 29, 1999; $ 43,050 million with exercise dates from December 30, 1999 through January 5, 2000; and $ 24,000 million with exercise dates from January 6, 2000 through January 12, 2000. Further details on these contracts can be found on the website of the Federal Reserve Bank of New York (http://www.newyorkfed.org/pihome/news/announce). Worksheet for H.4.1 (a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS Millions of Dollars Change Since * Wednesday Wednesday Wednesday Oct 27, 1999 Oct 20, 1999 Oct 28, 1998 ASSETS Gold certificate account 11,050 0 + 9 Special drawing rights certificate account 7,200 0 - 2,000 Coin 317 0 - 141 Loans 211 - 17 + 127 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 20,065 - 3,485 + 20,065 Federal agency obligations (2) Bought outright 188 - 10 - 200 Held under repurchase agreements 0 0 - 3,440 U.S. government securities (2) Bought outright--Bills 200,350 + 681 + 3,772 Notes (3) 211,272 + 2 + 26,939 Bonds (4) 80,429 + 1 + 13,374 Total bought outright (5) 492,051 + 684 + 44,085 Held under repurchase agreements (1) 0 0 - 2,279 Total U.S. government securities 492,051 + 684 + 41,806 Total loans and securities 512,515 - 2,828 + 58,358 Items in process of collection (713) 6,656 - 1,000 + 258 Bank premises 1,341 - 1 + 46 Other assets (6) 33,584 + 359 - 17 TOTAL ASSETS (713) 572,664 - 3,468 + 56,516 LIABILITIES Federal Reserve notes 528,449 + 2,522 + 55,916 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 14,775 - 4,858 + 1,390 U.S. Treasury--general account 4,363 - 562 - 2,019 Foreign--official accounts 172 + 5 - 41 Other (0) 223 - 88 - 244 Total deposits (0) 19,533 - 5,502 - 915 Deferred availability cash items (713) 6,730 - 449 + 490 Other liabilities and accrued dividends (7) 4,444 - 19 - 33 TOTAL LIABILITIES (713) 559,156 - 3,448 + 55,459 CAPITAL ACCOUNTS Capital paid in 6,354 + 17 + 435 Surplus 5,952 0 + 732 Other capital accounts 1,201 - 38 - 110 *Figures in parentheses are the eliminations made in the consolidation process. 1 Cash value of agreements arranged through third-party custodial banks. 2 Face value of the securities. 3 Includes $ 3,938 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 Includes $ 1,538 million of inflation-indexed securities valued at the original face amount and $ 38 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 15,350 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,981 million that are fully collateralized by other U.S. government securities. 6 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. 7 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, October 27, 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 Reverse Loans securities (1,2) obligations(2) Repurchase Repurchase Weekly Weekly Agreements Agreements Holdings changes Holdings changes Triparty(3) Triparty(3) Within 15 days 181 10,377 - 416 7 - 3 3,505 0 16 to 90 days 29 103,172 + 1,236 6 - 1 16,560 0 91 days to 1 year 2 141,937 - 140 45 - 6 ------ ------ Over 1 to 5 years 121,201 + 1 10 0 ------ ------ Over 5 to 10 years 50,211 + 2 120 0 ------ ------ Over 10 years 65,153 + 1 0 0 ------ ------ Total 211 492,051 + 684 188 - 10 20,065 0 1 Includes $ 5,476 million of inflation-indexed securities valued at the original face amount and $ 189 million of compensation that adjusts for the effects of inflation on the principal of such securities. 2 Includes face value of securities held under repurchase agreements classified by the remaining maturity of the agreements. 3 Cash value of agreements arranged through third-party custodial banks classified by remaining maturity of the agreements. Components may not add to totals due to rounding. H.4.1 (b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON October 27, 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 11,050 533 4,437 319 566 834 724 993 337 140 313 575 1,279 Special drawing rights certif. acct. 7,200 357 2,823 217 348 599 523 637 204 90 203 396 803 Coin 317 7 16 15 29 46 44 31 17 13 20 38 42 Loans 211 0 1 1 0 12 12 45 53 40 42 1 6 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 20,065 0 20,065 0 0 0 0 0 0 0 0 0 0 Federal agency obligations(2) Bought outright 188 10 75 6 11 14 11 18 6 2 6 9 20 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 U.S. government securities(2) Bought outright--Bills 200,350 10,361 79,788 6,001 11,597 15,072 12,195 18,817 6,590 2,396 6,008 9,983 21,541 Notes (3) 211,272 10,926 84,138 6,328 12,229 15,894 12,860 19,843 6,950 2,527 6,336 10,527 22,715 Bonds (4) 80,429 4,159 32,031 2,409 4,656 6,051 4,896 7,554 2,646 962 2,412 4,008 8,647 Total bought outright(5) 492,051 25,445 195,957 14,738 28,482 37,017 29,951 46,214 16,186 5,885 14,756 24,518 52,904 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 492,051 25,445 195,957 14,738 28,482 37,017 29,951 46,214 16,186 5,885 14,756 24,518 52,904 Total loans and securities 512,515 25,455 216,098 14,744 28,493 37,043 29,974 46,276 16,244 5,927 14,803 24,527 52,930 Items in process of collection 7,369 338 874 310 338 424 734 545 355 598 460 342 2,050 Bank premises 1,341 93 163 50 156 124 125 107 32 129 51 146 165 Other assets(5) 33,584 1,532 11,085 961 1,997 4,642 2,130 3,036 856 769 864 1,400 4,312 Interdistrict settlement account 0 + 3,901 - 2,732 + 5,182 - 487 - 7,106 + 6,278 +15,677 + 2,647 - 5,312 + 1,404 -22,398 + 2,946 TOTAL ASSETS 573,377 32,216 232,763 21,799 31,440 36,605 40,533 67,302 20,692 2,353 18,119 5,027 64,528 1 Cash value of agreements arranged through third-party custodial banks. These agreements are collateralized by U.S. government and federal agency securities. 2 Face value of the securities. 3 Includes $ 3,938 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 Includes $ 1,538 million of inflation-indexed securities valued at the original face amount and $ 38 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 15,350 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,981 million that are fully collateralized by other U.S. government securities. 6 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Components may not add to totals due to rounding. H.4.1 (c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON October 27, 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 528,449 30,404 220,714 20,447 29,107 29,932 37,209 62,803 19,475 552 16,629 3,393 57,786 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 14,775 621 2,129 453 813 2,334 1,239 2,289 482 747 550 591 2,526 U.S. Treasury--general account 4,363 0 4,363 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 172 7 56 4 10 30 10 14 3 5 3 6 24 Other 223 0 141 0 2 67 4 3 0 0 2 3 1 Total deposits 19,533 628 6,689 458 825 2,430 1,253 2,306 486 753 555 599 2,551 Deferred credit items 7,443 339 966 316 335 557 847 528 234 533 409 342 2,037 Other liabilities and accrued dividends (2) 4,444 242 1,544 162 266 387 310 423 169 90 164 228 458 TOTAL LIABILITIES 559,869 31,613 229,913 21,383 30,533 33,306 39,619 66,060 20,363 1,928 17,757 4,563 62,831 CAPITAL ACCOUNTS Capital paid in 6,354 289 1,319 201 441 1,632 450 599 157 210 174 213 670 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 1,201 47 323 39 68 429 46 60 51 12 47 25 54 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 573,377 32,216 232,763 21,799 31,440 36,605 40,533 67,302 20,692 2,353 18,119 5,027 64,528 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 827,758 41,667 329,760 31,344 39,282 55,545 62,073 80,501 26,690 11,551 24,999 37,303 87,044 Less--Held by F.R. Banks 299,309 11,263 109,046 10,897 10,175 25,612 24,864 17,698 7,215 10,999 8,371 33,911 29,259 F.R. notes, net 528,449 30,404 220,714 20,447 29,107 29,932 37,209 62,803 19,475 552 16,629 3,393 57,786 Collateral held against F.R. notes Gold certificate account 11,050 Special drawing rights certificate account 7,200 Other eligible assets 0 U.S. govt. and agency securities(3) 510,199 Total collateral 528,449 1 Cash value of agreements arranged through third-party custodial banks. These agreements are collateralized by U.S. government and federal agency securities. 2 Includes exchange translation account reflecting the monthly revaluation at market exchange rates of foreign exchange commitments. 3 U.S. government and agency securities bought outright or held under repurchase agreement are valued at face amount. Includes cash value of repurchase agreements under triparty arrangements and excludes the par value of securities pledged under reverse repurchase agreements. Components may not add to totals due to rounding.