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 15, 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 14, 1999 Jul 7, 1999 Jul 15, 1998 Jul 14, 1999 Reserve Bank Credit (1,2) 527,231 + 1,516 + 45,714 532,173 U.S. government securities Bought outright-system account (3) 486,856 + 1,098 + 45,058 487,411 Held under repurchase agreements 1,355 + 142 - 3,750 3,172 Federal agency obligations Bought outright 257 - 2 - 269 254 Held under repurchase agreements 5,093 + 97 + 3,972 6,986 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 225 + 178 + 224 2 Seasonal credit 205 + 19 + 10 215 Extended credit 0 0 0 0 Float 319 - 422 - 72 949 Other F.R. assets 32,921 + 406 + 540 33,183 Gold stock 11,045 - 1 - 2 11,045 Special drawing rights certificate account 8,200 0 - 1,000 8,200 Treasury currency outstanding 26,958 + 14 + 1,145 26,958 Total factors supplying reserve funds 573,434 + 1,530 + 45,858 578,376 Currency in circulation* 534,643 + 328 + 48,104 534,529 Treasury cash holdings* 87 - 3 - 107 56 Deposits,other than reserve balances,with F.R.Banks Treasury 5,264 - 502 + 93 5,491 Foreign 235 + 28 + 72 265 Service-related balances and adjustments (4) 7,032 + 97 + 171 7,032 Other 276 + 12 - 16 276 Other F.R. liabilities and capital 17,584 + 71 + 747 17,422 Total factors, other than reserve balances, absorbing reserve funds 565,121 + 30 + 49,064 565,072 Reserve balances with F.R. Banks (5) 8,313 + 1,500 - 3,206 13,304 On July 14, 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 598,636 million, a change of -$ 3,012 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 16,535 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 16,535 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 15,979 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 15,979 million was with foreign official and international accounts. Includes $ 1,488 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 $ 6,736 million and adjustments of $ 297 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 14, 1999 Jul 7, 1999 Jul 15, 1998 ASSETS Gold certificate account 11,045 - 1 - 2 Special drawing rights certificate account 8,200 0 - 1,000 Coin 290 - 3 - 105 Loans 217 - 5 + 9 Acceptances 0 0 0 Federal agency obligations Bought outright 254 - 5 - 272 Held under repurchase agreements (1) 6,986 + 2,740 + 4,561 U.S. government securities Bought outright--Bills 199,720 + 1,011 + 35 Notes (2) 209,807 + 951 + 30,922 Bonds (3) 77,884 0 + 15,567 Total bought outright (4) 487,411 + 1,962 + 46,524 Held under repurchase agreements (1) 3,172 + 1,747 - 6,320 Total U.S. government securities 490,583 + 3,709 + 30,712 Total loans and securities 498,040 + 6,439 + 44,503 Items in process of collection (710) 7,907 - 3,407 + 376 Bank premises 1,322 + 1 + 28 Other assets (5) 31,888 + 377 + 118 TOTAL ASSETS (710) 558,691 + 3,404 + 43,918 LIABILITIES Federal Reserve notes 507,918 - 1,686 + 46,085 Deposits Depository institutions 20,023 + 7,571 - 3,684 U.S. Treasury--general account 5,491 - 216 + 182 Foreign--official accounts 265 + 5 + 85 Other (14) 276 + 14 - 3 Total deposits (14) 26,055 + 7,373 - 3,422 Deferred availability cash items (696) 7,297 - 2,357 + 423 Other liabilities and accrued dividends (6) 4,323 + 26 - 313 TOTAL LIABILITIES (710) 545,592 + 3,356 + 42,772 CAPITAL ACCOUNTS Capital paid in 6,287 + 7 + 472 Surplus 5,952 0 + 732 Other capital accounts 860 + 41 - 58 *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 $ 15,979 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 1,488 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 14, 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 64 0 Within 15 days 14,937 + 2,552 6,991 + 2,740 16 to 90 days 153 0 16 to 90 days 100,023 + 330 21 - 5 Over 90 days 0 0 91 days to 1 year 141,120 + 829 58 0 Over 1 to 5 years 122,393 0 20 0 Over 5 to 10 years 49,488 0 150 0 Over 10 years 62,623 0 0 0 Total 217 0 Total 490,583 + 3,709 7,240 + 2,735 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 14, 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 11,045 533 4,432 319 566 834 724 993 337 140 313 575 1,279 Special drawing rights certif. acct. 8,200 406 3,215 247 396 683 596 725 232 103 231 451 915 Coin 290 7 14 32 13 34 37 25 19 19 19 42 30 Loans 217 2 0 0 0 0 7 46 41 65 27 0 29 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 254 13 101 8 15 19 15 24 8 3 8 13 27 Held under repurchase agreements(1) 6,986 0 6,986 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 199,720 10,328 79,538 5,982 11,561 15,025 12,157 18,758 6,570 2,389 5,989 9,952 21,473 Notes (2) 209,807 10,850 83,555 6,284 12,145 15,784 12,771 19,705 6,901 2,509 6,292 10,454 22,558 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) 487,411 25,206 194,109 14,599 28,214 36,668 29,668 45,778 16,033 5,829 14,617 24,286 52,405 Held under repurchase agreements(1) 3,172 0 3,172 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 490,583 25,206 197,281 14,599 28,214 36,668 29,668 45,778 16,033 5,829 14,617 24,286 52,405 Total loans and securities 498,040 25,220 204,368 14,606 28,228 36,687 29,691 45,848 16,083 5,897 14,652 24,299 52,461 Items in process of collection 8,617 328 864 416 452 1,150 831 622 151 696 678 368 2,061 Bank premises 1,322 93 163 50 157 124 104 107 31 129 52 147 164 Other assets(5) 31,888 1,451 10,674 949 1,881 4,345 2,012 2,862 808 720 818 1,326 4,044 Interdistrict settlement account 0 - 613 - 3,566 + 9,051 - 1,060 -10,920 - 2,115 + 9,709 + 2,966 - 3,230 + 2,383 - 944 - 1,662 TOTAL ASSETS 559,401 27,426 220,165 25,670 30,633 32,936 31,880 60,890 20,626 4,473 19,146 26,264 59,292 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 $ 15,979 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 1,488 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 14, 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 507,918 25,148 202,835 24,261 27,978 26,714 28,485 55,927 18,996 2,930 17,464 24,290 52,889 Deposits Depository institutions 20,023 1,009 6,136 592 1,191 2,254 1,339 2,719 818 441 680 906 1,938 U.S. Treasury--general account 5,491 0 5,491 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 265 7 149 4 10 30 10 69,385 3 11,392 3 6 24 Other 290 0 75 0 2 116 1 1 4 0 72 2 16 Total deposits 26,069 1,016 11,852 597 1,203 2,401 1,351 2,734 825 446 755 913 1,977 Deferred credit items 7,993 443 969 258 347 859 868 585 329 575 422 383 1,956 Other liabilities and accrued dividends (1) 4,323 224 1,666 152 246 321 286 393 159 85 156 215 421 TOTAL LIABILITIES 546,303 26,830 217,321 25,268 29,774 30,295 30,990 59,639 20,309 4,036 18,797 25,801 57,243 CAPITAL ACCOUNTS Capital paid in 6,287 285 1,314 194 416 1,301 430 604 153 216 167 210 997 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 860 43 321 32 44 103 41 65 44 19 42 25 80 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 559,401 27,426 220,165 25,670 30,633 32,936 31,880 60,890 20,626 4,473 19,146 26,264 59,292 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 733,984 32,144 293,153 29,486 35,073 50,751 49,857 69,385 24,803 11,392 24,164 36,969 76,806 Less--Held by F.R. Banks 226,066 6,997 90,318 5,224 7,095 24,036 21,372 13,459 5,807 8,462 6,701 12,679 23,917 F.R. notes, net 507,918 25,148 202,835 24,261 27,978 26,714 28,485 55,927 18,996 2,930 17,464 24,290 52,889 Collateral held against F.R. notes Gold certificate account 11,045 Special drawing rights certificate account 8,200 Other eligible assets 0 U.S. govt. and agency securities 488,673 Total collateral 507,918 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.