Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page

Release Date: December 16, 1999

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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
                                                                                          December 16, 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     Dec 15, 1999  Dec 8, 1999 Dec 16, 1998 Dec 15, 1999

Reserve Bank Credit                                         584,135    +   9,572    +  81,030      592,193
  U.S. government securities (1)
    Bought outright-system account (2,3)                    495,734    +   1,736    +  41,715      494,927
    Held under repurchase agreements                              0            0    -   6,909            0
  Federal agency obligations (1)
    Bought outright                                             181            0    -     157          181
    Held under repurchase agreements                              0            0    -   6,380            0
  Repurchase agreements -- triparty (4)                      53,343    +   7,589    +  53,343       60,665
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                           167    +     146    +     142        1,010
    Seasonal credit                                              60    -       1    +      47           72
    Special Liquidity Facility                                   43    +      33    +      43          236
    Extended credit                                               0            0            0            0
   Float                                                        654    -     575    +      79          815
   Other F.R. assets                                         33,952    +     642    -     894       34,287
Gold stock                                                   11,049    +       1    +       8       11,049
Special drawing rights certificate account                    7,057    -     143    -   2,143        6,200
Treasury currency outstanding                                27,720    +      14    +   1,503       27,720
        Total factors supplying reserve funds               629,960    +   9,443    +  80,397      637,162

Currency in circulation*                                    591,918    +   6,869    +  84,143      597,428
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         108    -       4    +      21          109
Deposits,other than reserve balances,with F.R.Banks
  Treasury                                                    5,273    +     473    -   1,051        7,777
  Foreign                                                       214    +      28    +      19          496
  Service-related balances and adjustments (5)                7,338    +     243    +     635        7,338
  Other                                                         222    -       2    -      68          224
Other F.R. liabilities and capital                           18,643    +     298    +   1,530       18,347
        Total factors, other than reserve balances,
        absorbing reserve funds                             623,717    +   7,905    +  85,231      631,719

Reserve balances with F.R. Banks  (6)                         6,243    +   1,538    -   4,834        5,443

On  December 15, 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    624,582 million, a change of
 -$    334 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 $     16,830 million (daily average over statement week) and $     18,505 million (outstanding on
   Wednesday statement date) matched sale-purchase transactions, of which $     16,830 million (daily average)
   and $     18,505 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $        370 million (daily average) and $      1,225 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
   $        223 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 $      6,857 million and adjustments of $        481 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  December 15, 1999, option contracts on repurchase agreements were outstanding as follows:
$        114 million with exercise dates from December 23, 1999 through December 29, 1999;
$        223 million with exercise dates from December 30, 1999 through January 5, 2000; and
$        144 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
                                                           Dec 15, 1999      Dec 8, 1999     Dec 16, 1998
                ASSETS
Gold certificate account                                        11,049        +       1        +       8
Special drawing rights certificate account                       6,200        -   1,000        -   3,000
Coin                                                               231        +       3        -     168
Loans                                                            1,319        +   1,221        +   1,160
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           60,665        +  13,640        +  60,665
Federal agency obligations (2)
  Bought outright                                                  181                0        -     157
  Held under repurchase agreements                                   0                0        -   7,181
U.S. government securities (2)
  Bought outright--Bills                                       197,194        -   2,039        -     477
                   Notes (3)                                   214,756        +   1,483        +  26,865
                   Bonds (4)                                    82,977        +     739        +  13,504
    Total bought outright (5)                                  494,927        +     183        +  39,892
  Held under repurchase agreements (1)                               0                0        -   5,702
     Total U.S. government securities                          494,927        +     183        +  34,190
       Total loans and securities                              557,092        +  15,044        +  88,677

Items in process of collection                      (736)        8,925        -      33        +     174
Bank premises                                                    1,355        +       1        +      59
Other assets (6)                                                32,793        +     712        -     704
                TOTAL ASSETS                        (736)      617,645        +  14,728        +  85,045

                LIABILITIES
Federal Reserve notes                                          570,047        +   8,451        +  85,870
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits
  Depository institutions                                       12,827        +   2,638        -   1,835
  U.S. Treasury--general account                                 7,777        +   2,650        -     851
  Foreign--official accounts                                       496        +     318        +     326
    Other                                             (0)          224        +      10        -      39
      Total deposits                                  (0)       21,323        +   5,614        -   2,399
Deferred availability cash items                    (736)        7,927        +     458        +     192
Other liabilities and accrued dividends (7)                      4,616        +     159        +     139
                TOTAL LIABILITIES                   (736)      603,914        +  14,682        +  83,802

                CAPITAL ACCOUNTS
Capital paid in                                                  6,398        -      14        +     456
Surplus                                                          5,952                0        +     732
Other capital accounts                                           1,381        +      61        +      56

*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
   $        175 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
   $         48 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
5  Net of $     18,505 million matched sale-purchase transactions outstanding at the end of the latest
   statement week.  Includes securities loans of $      1,225 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,  December 15, 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           1,039       10,891   -   4,254            0           0        6,285           0
16 to 90 days               51      102,817   -   2,585           31           0       54,380           0
91 days to 1 year          229      140,175   +   4,800           20           0     ------      ------
Over 1 to 5 years                   123,671   +   1,257           10           0     ------      ------
Over 5 to 10 years                   51,104   +     583          120           0     ------      ------
Over 10 years                        66,269   +     383            0           0     ------      ------
                   		 	
Total                    1,319      494,927   +     183          181           0       60,665           0

1  Includes $      5,476 million of inflation-indexed securities valued at the original face amount and
   $        223 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  December 15, 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                      11,049        533      4,436        319        566        834        724        993        337        140        313        575      1,279
Special drawing rights certif. acct.           6,200        307      2,431        187        299        516        450        549        175         78        175        341        692
Coin                                             231          6         12         11         15         36         27         28         11         12         19         18         35

Loans                                          1,319         16        306          3        236         35        184         21        166         13         28          2        310
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          60,665          0     60,665          0          0          0          0          0          0          0          0          0          0
Federal agency obligations(2)
  Bought outright                                181          9         72          5         10         14         11         17          6          2          5          9         19
  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                     197,194     10,198     78,532      5,906     11,415     14,835     12,003     18,521      6,487      2,358      5,913      9,826     21,202
                   Notes (3)                 214,756     11,106     85,526      6,432     12,431     16,156     13,072     20,170      7,064      2,568      6,440     10,701     23,090
                   Bonds (4)                  82,977      4,291     33,045      2,485      4,803      6,242      5,051      7,793      2,729        992      2,488      4,135      8,921
     Total bought outright(5)                494,927     25,594    197,102     14,824     28,649     37,233     30,126     46,484     16,280      5,919     14,842     24,661     53,213
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             494,927     25,594    197,102     14,824     28,649     37,233     30,126     46,484     16,280      5,919     14,842     24,661     53,213
       Total loans and securities            557,092     25,620    258,146     14,832     28,895     37,282     30,321     46,521     16,453      5,935     14,875     24,671     53,542

Items in process of collection                 9,662        521      1,122        623        470        562      1,042        796        449        579        699        417      2,381
Bank premises                                  1,355         93        164         50        156        124        139        107         32        128         51        146        165
Other assets(5)                               32,793      1,468     10,946        990      1,929      4,555      2,056      2,923        810        752        825      1,340      4,198
Interdistrict settlement account                   0    + 7,409    -32,660    + 6,350    +   669    - 3,355    + 9,570    +17,766    + 4,036    - 3,911    + 2,330    -14,435    + 6,231
          TOTAL ASSETS                       618,381     35,956    244,597     23,363     32,999     40,554     44,329     69,684     22,302      3,713     19,287     13,074     68,523

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  $        175 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  $         48 million
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     18,505 million matched sale-purchase transactions outstanding at the end of the latest statement week.
   Includes securities loans of $      1,225 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  December 15, 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                         570,047     33,587    228,181     22,003     30,287     35,070     41,122     65,771     20,768      2,185     17,800     11,403     61,871
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits
  Depository institutions                      12,827      1,033      2,488        403      1,136        957        975      1,503        768        414        526        590      2,034
  U.S. Treasury--general account                7,777          0      7,777          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                      496          7        380          4         10         30         10         14          3          5          3          6         24
  Other                                           224          0        148          0          4         62          1          1          0          1          2          2          2
    Total deposits                             21,323      1,039     10,793        407      1,150      1,049        986      1,518        771        419        532        598      2,060
Deferred credit items                           8,663        474      1,053        373        384        639        949        731        258        549        425        375      2,455
Other liabilities and accrued
  dividends (2)                                 4,616        250      1,631        167        275        394        323        438        174         95        167        234        469
    TOTAL LIABILITIES                         604,650     35,351    241,657     22,950     32,095     37,152     43,379     68,458     21,971      3,248     18,923     12,611     66,855

       CAPITAL ACCOUNTS
Capital paid in                                 6,398        289      1,325        199        439      1,691        460        576        159        231        174        213        640
Surplus                                         5,952        267      1,208        177        399      1,238        418        583        121        202        140        227        972
Other capital accounts                          1,381         49        405         37         66        473         71         66         51         32         49         24         56
     TOTAL LIABILITIES AND CAPITAL
        ACCOUNTS                              618,381     35,956    244,597     23,363     32,999     40,554     44,329     69,684     22,302      3,713     19,287     13,074     68,523

FEDERAL RESERVE AGENTS' ACCOUNTS

F.R. notes outstanding                        824,510     42,919    326,952     31,059     39,035     55,018     62,572     79,529     26,558     11,401     24,675     36,888     87,905
  Less--Held by F.R. Banks                    254,463      9,332     98,771      9,056      8,748     19,948     21,450     13,758      5,791      9,217      6,875     25,484     26,034
  F.R. notes, net                             570,047     33,587    228,181     22,003     30,287     35,070     41,122     65,771     20,768      2,185     17,800     11,403     61,871
Collateral held against F.R. notes
   Gold certificate account                    11,049
   Special drawing rights
     certificate account                        6,200
   Other eligible assets                            0
   U.S. govt. and agency securities(3)        552,799
     Total collateral                         570,047

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.

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Last update: December 16, 1999