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 June 17, 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 16, 1999 Jun 9, 1999 Jun 17, 1998 Jun 16, 1999 Reserve Bank Credit (1,2) 522,569 + 2,860 + 45,022 520,267 U.S. government securities Bought outright-system account (3) 484,684 + 781 + 42,482 484,812 Held under repurchase agreements 1,851 + 772 - 209 1,430 Federal agency obligations Bought outright 263 - 48 - 288 263 Held under repurchase agreements 2,988 + 581 + 2,174 1,457 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 24 + 20 - 47 7 Seasonal credit 111 + 23 - 46 128 Extended credit 0 0 0 0 Float 743 + 332 - 86 119 Other F.R. assets 31,907 + 401 + 1,043 32,051 Gold stock 11,047 0 - 1 11,047 Special drawing rights certificate account 8,200 0 - 1,000 8,200 Treasury currency outstanding 26,841 + 14 + 1,083 26,841 Total factors supplying reserve funds 568,657 + 2,874 + 45,104 566,356 Currency in circulation* 528,155 - 754 + 46,596 528,923 Treasury cash holdings* 109 - 27 - 98 89 Deposits,other than reserve balances,with F.R.Banks Treasury 5,449 + 594 - 1,533 4,709 Foreign 247 + 82 + 88 195 Service-related balances and adjustments (4) 6,730 - 177 - 31 6,730 Other 245 - 17 - 92 251 Other F.R. liabilities and capital 17,656 + 226 + 743 17,368 Total factors, other than reserve balances, absorbing reserve funds 558,591 - 71 + 45,674 558,266 Reserve balances with F.R. Banks (5) 10,066 + 2,945 - 570 8,090 On June 16, 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 595,180 million, a change of -$ 3,269 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 17,155 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 17,155 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 17,611 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 17,611 million was with foreign official and international accounts. Includes $ 874 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 $ 134 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,626 million and adjustments of $ 105 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 16, 1999 Jun 9, 1999 Jun 17, 1998 ASSETS Gold certificate account 11,047 0 - 1 Special drawing rights certificate account 8,200 0 - 1,000 Coin 342 - 3 - 65 Loans 135 + 35 - 64 Acceptances 0 0 0 Federal agency obligations Bought outright 263 - 48 - 288 Held under repurchase agreements (1) 1,457 - 1,649 + 220 U.S. government securities Bought outright--Bills 198,089 - 915 - 1,568 Notes (2) 208,843 + 848 + 28,251 Bonds (3) 77,880 + 174 + 15,966 Total bought outright (4) 484,812 + 106 + 42,648 Held under repurchase agreements (1) 1,430 + 1,005 - 5,248 Total U.S. government securities 486,242 + 1,111 + 37,400 Total loans and securities 488,096 - 552 + 37,267 Items in process of collection (681) 7,625 - 208 - 736 Bank premises 1,316 0 + 23 Other assets (5) 30,791 + 425 + 606 TOTAL ASSETS (681) 547,418 - 336 + 36,094 LIABILITIES Federal Reserve notes 502,513 - 602 + 45,369 Deposits Depository institutions 14,918 + 114 - 6,875 U.S. Treasury--general account 4,709 + 26 - 3,564 Foreign--official accounts 195 + 29 + 19 Other (0) 251 - 2 - 75 Total deposits (0) 20,073 + 167 - 10,495 Deferred availability cash items (681) 7,465 + 94 + 562 Other liabilities and accrued dividends (6) 4,272 - 62 - 530 TOTAL LIABILITIES (681) 534,322 - 404 + 34,905 CAPITAL ACCOUNTS Capital paid in 6,286 + 22 + 500 Surplus 5,952 0 + 732 Other capital accounts 858 + 47 - 42 *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 $ 112 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 $ 22 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 17,611 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 874 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 16, 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 126 0 Within 15 days 12,685 + 1,925 1,461 - 1,693 16 to 90 days 9 0 16 to 90 days 98,509 - 2,020 21 - 4 Over 90 days 0 0 91 days to 1 year 140,904 + 185 68 0 Over 1 to 5 years 122,047 + 949 20 0 Over 5 to 10 years 49,478 + 70 150 0 Over 10 years 62,619 + 2 0 0 Total 135 0 Total 486,242 + 1,111 1,720 - 1,697 1 Includes $ 4,740 million of inflation-indexed securities valued at the original face amount and $ 134 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 16, 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 11,047 533 4,434 319 566 834 724 993 337 140 313 575 1,279 Special drawing rights certif. acct. 8,200 406 3,215 247 396 683 596 725 232 103 231 451 915 Coin 342 11 15 39 13 39 45 34 19 24 21 43 39 Loans 135 2 0 0 0 0 10 24 26 31 21 0 21 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 263 14 105 8 15 20 16 25 9 3 8 13 28 Held under repurchase agreements(1) 1,457 0 1,457 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 198,089 10,244 78,888 5,933 11,466 14,902 12,057 18,605 6,516 2,369 5,940 9,870 21,298 Notes (2) 208,843 10,800 83,171 6,255 12,089 15,711 12,712 19,615 6,870 2,498 6,263 10,406 22,454 Bonds (3) 77,880 4,027 31,015 2,333 4,508 5,859 4,740 7,315 2,562 931 2,335 3,881 8,373 Total bought outright(4) 484,812 25,071 193,074 14,521 28,063 36,472 29,510 45,534 15,947 5,798 14,539 24,157 52,125 Held under repurchase agreements(1) 1,430 0 1,430 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 486,242 25,071 194,504 14,521 28,063 36,472 29,510 45,534 15,947 5,798 14,539 24,157 52,125 Total loans and securities 488,096 25,087 196,066 14,529 28,078 36,492 29,536 45,583 15,982 5,832 14,567 24,170 52,174 Items in process of collection 8,306 453 997 -97 689 618 865 743 265 676 581 482 2,034 Bank premises 1,316 93 162 50 157 125 98 107 31 129 52 147 165 Other assets(5) 30,791 1,397 10,144 943 1,856 4,265 1,945 2,766 771 704 785 1,275 3,942 Interdistrict settlement account 0 + 203 - 3,098 + 7,854 - 2,711 -10,759 - 1,072 + 9,004 + 2,864 - 3,237 + 2,326 - 838 - 536 TOTAL ASSETS 548,099 28,181 211,935 23,884 29,044 32,297 32,736 59,954 20,502 4,371 18,877 26,305 60,013 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 $ 112 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 $ 22 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 17,611 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 874 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 16, 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 502,513 25,968 199,387 22,514 26,565 27,162 29,069 55,177 18,726 2,556 17,336 24,324 53,729 Deposits Depository institutions 14,918 913 2,268 540 1,003 1,449 1,526 2,467 915 653 555 873 1,757 U.S. Treasury--general account 4,709 0 4,709 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 195 7 79 4 10 30 10 14 3 5 3 6 24 Other 251 0 144 1 2 88 1 1 0 0 7 2 4 Total deposits 20,073 920 7,200 546 1,015 1,567 1,537 2,482 918 658 566 880 1,784 Deferred credit items 8,145 470 970 247 357 583 942 655 386 630 473 423 2,009 Other liabilities and accrued dividends (1) 4,272 227 1,527 156 254 349 292 404 159 88 155 216 444 TOTAL LIABILITIES 535,003 27,585 209,084 23,463 28,191 29,661 31,840 58,719 20,190 3,932 18,530 25,843 57,966 CAPITAL ACCOUNTS Capital paid in 6,286 285 1,313 203 416 1,301 433 598 148 217 167 209 997 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 858 44 329 43 39 97 45 55 44 19 40 25 78 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 548,099 28,181 211,935 23,884 29,044 32,297 32,736 59,954 20,502 4,371 18,877 26,305 60,013 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 719,743 31,843 287,277 26,582 32,942 51,316 49,041 68,477 24,063 11,188 23,822 36,298 76,894 Less--Held by F.R. Banks 217,230 5,876 87,890 4,068 6,377 24,154 19,972 13,299 5,337 8,632 6,486 11,974 23,164 F.R. notes, net 502,513 25,968 199,387 22,514 26,565 27,162 29,069 55,177 18,726 2,556 17,336 24,324 53,729 Collateral held against F.R. notes Gold certificate account 11,047 Special drawing rights certificate account 8,200 Other eligible assets 0 U.S. govt. and agency securities 483,266 Total collateral 502,513 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.