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 September 23, 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 Sep 22, 1999 Sep 15, 1999 Sep 23, 1998 Sep 22, 1999 Reserve Bank Credit (1,2) 538,437 + 3,804 + 52,356 544,850 U.S. government securities Bought outright-system account (3) 491,006 + 357 + 46,196 491,054 Held under repurchase agreements 1,938 + 670 - 3,737 4,893 Federal agency obligations Bought outright 238 0 - 165 238 Held under repurchase agreements 11,155 + 2,931 + 9,634 14,877 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 72 + 49 + 61 132 Seasonal credit 283 + 15 + 109 287 Extended credit 0 0 0 0 Float 171 - 796 - 507 -485 Other F.R. assets 33,574 + 578 + 766 33,855 Gold stock 11,046 0 + 1 11,048 Special drawing rights certificate account 7,200 - 857 - 2,000 7,200 Treasury currency outstanding 27,249 + 14 + 1,276 27,249 Total factors supplying reserve funds 583,931 + 2,960 + 51,632 590,346 Currency in circulation* 542,430 - 63 + 50,019 543,071 Treasury cash holdings* 86 - 1 - 8 93 Deposits,other than reserve balances,with F.R.Banks Treasury 7,512 + 2,032 + 368 7,721 Foreign 265 + 36 + 100 161 Service-related balances and adjustments (4) 6,925 - 195 - 22 6,925 Other 248 - 21 - 122 244 Other F.R. liabilities and capital 18,601 + 356 + 1,433 18,552 Total factors, other than reserve balances, absorbing reserve funds 576,067 + 2,144 + 51,769 576,767 Reserve balances with F.R. Banks (5) 7,865 + 817 - 137 13,579 On September 22, 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 614,480 million, a change of -$ 1,248 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 16,542 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 16,542 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 16,496 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 16,496 million was with foreign official and international accounts. Includes $ 497 million securities loaned--fully secured U.S. government securities. 3 Includes $ 5,108 million of inflation-indexed securities valued at the original face amount and $ 168 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,715 million and adjustments of $ 209 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 Sep 22, 1999 Sep 15, 1999 Sep 23, 1998 ASSETS Gold certificate account 11,048 + 2 + 3 Special drawing rights certificate account 7,200 0 - 2,000 Coin 284 + 1 - 128 Loans 418 + 112 + 233 Acceptances 0 0 0 Federal agency obligations Bought outright 238 0 - 165 Held under repurchase agreements (1) 14,877 + 1,837 + 12,802 U.S. government securities Bought outright--Bills 199,204 - 79 + 2,353 Notes (2) 211,798 + 3 + 28,821 Bonds (3) 80,052 + 1 + 14,076 Total bought outright (4) 491,054 - 75 + 45,250 Held under repurchase agreements (1) 4,893 + 3,558 - 3,737 Total U.S. government securities 495,946 + 3,482 + 41,512 Total loans and securities 511,480 + 5,432 + 54,384 Items in process of collection (638) 6,892 - 1,507 - 295 Bank premises 1,334 + 1 + 37 Other assets (5) 32,591 + 661 + 418 TOTAL ASSETS (638) 570,827 + 4,589 + 52,417 LIABILITIES Federal Reserve notes 516,199 - 317 + 48,327 Deposits Depository institutions 20,840 + 7,391 + 1,515 U.S. Treasury--general account 7,721 - 2,407 + 213 Foreign--official accounts 161 - 81 - 5 Other (0) 244 - 12 - 144 Total deposits (0) 28,966 + 4,891 + 1,579 Deferred availability cash items (638) 7,110 - 429 + 910 Other liabilities and accrued dividends (6) 5,068 + 408 + 306 TOTAL LIABILITIES (638) 557,343 + 4,553 + 51,123 CAPITAL ACCOUNTS Capital paid in 6,318 + 6 + 406 Surplus 5,952 0 + 732 Other capital accounts 1,215 + 31 + 157 *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 $ 3,938 million of inflation-indexed securities valued at the original face amount and $ 139 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 $ 29 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,496 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 497 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, September 22, 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 384 0 Within 15 days 14,729 - 2,742 14,887 + 6,112 16 to 90 days 35 0 16 to 90 days 101,811 + 926 47 - 4,275 Over 90 days 0 0 91 days to 1 year 142,082 + 5,295 51 0 Over 1 to 5 years 122,348 + 1 10 0 Over 5 to 10 years 50,201 + 2 120 0 Over 10 years 64,776 + 1 0 0 Total 418 0 Total 495,946 + 3,482 15,115 + 1,837 1 Includes $ 5,108 million of inflation-indexed securities valued at the original face amount and $ 168 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 September 22, 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 11,048 533 4,435 319 566 834 724 993 337 140 313 575 1,279 Special drawing rights certif. acct. 7,200 357 2,823 217 348 599 523 637 204 90 203 396 803 Coin 284 5 12 14 24 37 37 30 18 14 21 37 33 Loans 418 1 2 3 0 29 85 61 75 69 67 0 26 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 238 12 95 7 14 18 14 22 8 3 7 12 26 Held under repurchase agreements(1) 14,877 0 14,877 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 199,204 10,301 79,332 5,967 11,531 14,986 12,125 18,709 6,553 2,382 5,974 9,926 21,418 Notes (2) 211,798 10,953 84,348 6,344 12,260 15,934 12,892 19,892 6,967 2,533 6,351 10,553 22,772 Bonds (3) 80,052 4,140 31,880 2,398 4,634 6,022 4,873 7,518 2,633 957 2,401 3,989 8,607 Total bought outright(4) 491,054 25,394 195,560 14,708 28,424 36,942 29,890 46,120 16,153 5,873 14,726 24,468 52,796 Held under repurchase agreements(1) 4,893 0 4,893 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 495,946 25,394 200,452 14,708 28,424 36,942 29,890 46,120 16,153 5,873 14,726 24,468 52,796 Total loans and securities 511,480 25,408 215,426 14,718 28,438 36,989 29,989 46,203 16,235 5,945 14,800 24,480 52,848 Items in process of collection 7,530 403 1,049 351 260 520 857 170 648 603 351 237 2,080 Bank premises 1,334 93 164 50 156 124 117 107 31 129 52 146 165 Other assets(5) 32,591 1,462 10,935 985 1,913 4,494 2,041 2,904 807 744 824 1,336 4,145 Interdistrict settlement account 0 + 1,733 - 62 + 5,582 - 390 - 6,948 + 4,246 +16,853 + 3,423 - 4,388 + 1,424 -20,844 - 630 TOTAL ASSETS 571,466 29,994 234,783 22,236 31,316 36,649 38,533 67,897 21,703 3,276 17,989 6,365 60,724 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 $ 3,938 million of inflation-indexed securities valued at the original face amount and $ 139 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 $ 29 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,496 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 497 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 September 22, 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 516,199 27,477 216,840 20,613 28,307 28,841 34,956 62,885 19,197 1,476 16,372 4,479 54,757 Deposits Depository institutions 20,840 1,325 3,928 749 1,590 3,429 1,491 2,659 1,617 679 670 849 1,854 U.S. Treasury--general account 7,721 0 7,721 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 161 7 45 4 10 30 10 14 3 5 3 6 24 Other 244 0 140 0 2 88 3 1 3 0 2 2 2 Total deposits 28,966 1,332 11,834 753 1,602 3,548 1,505 2,674 1,623 684 675 856 1,879 Deferred credit items 7,748 343 1,028 307 272 601 862 666 383 601 414 334 1,938 Other liabilities and accrued dividends (1) 5,068 238 2,212 161 262 358 308 421 168 92 164 230 455 TOTAL LIABILITIES 557,981 29,390 231,914 21,834 30,443 33,347 37,631 66,646 21,371 2,853 17,625 5,899 59,030 CAPITAL ACCOUNTS Capital paid in 6,318 289 1,319 194 422 1,631 436 602 158 209 175 213 670 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 1,215 48 342 32 53 433 48 66 54 12 49 26 52 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 571,466 29,994 234,783 22,236 31,316 36,649 38,533 67,897 21,703 3,276 17,989 6,365 60,724 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 815,877 38,448 324,735 31,422 39,066 55,576 59,623 80,680 26,777 11,620 25,221 37,332 85,379 Less--Held by F.R. Banks 299,677 10,971 107,895 10,809 10,759 26,736 24,667 17,795 7,580 10,144 8,848 32,853 30,621 F.R. notes, net 516,199 27,477 216,840 20,613 28,307 28,841 34,956 62,885 19,197 1,476 16,372 4,479 54,757 Collateral held against F.R. notes Gold certificate account 11,048 Special drawing rights certificate account 7,200 Other eligible assets 0 U.S. govt. and agency securities 497,952 Total collateral 516,199 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.