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.