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 30, 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 29, 1999 Dec 22, 1999 Dec 30, 1998 Dec 29, 1999 Reserve Bank Credit 618,779 + 24,362 + 107,821 644,623 U.S. government securities (1) Bought outright-system account (2,3) 489,170 - 5,427 + 34,979 483,417 Held under repurchase agreements 0 0 - 11,000 0 Federal agency obligations (1) Bought outright 181 0 - 157 181 Held under repurchase agreements 0 0 - 5,570 0 Repurchase agreements -- triparty (4) 93,154 + 28,739 + 93,154 122,870 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 361 + 278 + 16 1,609 Seasonal credit 78 - 2 + 58 76 Special Liquidity Facility 223 + 198 + 223 1,187 Extended credit 0 0 0 0 Float 628 + 20 - 2,762 106 Other F.R. assets 34,984 + 556 - 1,119 35,177 Gold stock 11,048 - 1 + 5 11,048 Special drawing rights certificate account 6,200 0 - 3,000 6,200 Treasury currency outstanding 27,748 + 14 + 1,496 27,748 Total factors supplying reserve funds 663,775 + 24,376 + 106,322 689,619 Currency in circulation* 619,081 + 16,738 + 102,299 628,357 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 109 0 + 24 109 Deposits,other than reserve balances,with F.R.Banks Treasury 12,138 + 5,932 + 4,943 25,923 Foreign 99 + 41 - 75 234 Service-related balances and adjustments (5) 7,783 + 13 + 931 7,783 Other 195 - 18 - 40 183 Other F.R. liabilities and capital 18,625 - 38 + 1,473 18,284 Total factors, other than reserve balances, absorbing reserve funds 658,031 + 22,669 + 109,556 680,873 Reserve balances with F.R. Banks (6) 5,745 + 1,708 - 3,233 8,746 On December 29, 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 638,956 million, a change of +$ 13,379 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 $ 27,973 million (daily average over statement week) and $ 33,727 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 27,973 million (daily average) and $ 33,727 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 886 million (daily average) and $ 3,235 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 $ 227 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 $ 7,424 million and adjustments of $ 360 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 29, 1999, option contracts on repurchase agreements were outstanding as follows: $ 222,950 million with exercise dates from December 30, 1999 through January 5, 2000; and $ 144,000 million with exercise dates from January 6, 2000 through January 12, 2000. Of the $ 113,850 million of contracts written with exercise dates from December 23 through December 29, $ 0 million(daily average) and $ 0 million (on December 29) were exercised and are reflected in the repurchase agreement data shown on this release. 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 29, 1999 Dec 22, 1999 Dec 30, 1998 ASSETS Gold certificate account 11,048 0 + 2 Special drawing rights certificate account 6,200 0 - 3,000 Coin 203 - 35 - 157 Loans 2,872 + 2,654 + 1,203 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 122,870 + 49,785 + 122,870 Federal agency obligations (2) Bought outright 181 0 - 157 Held under repurchase agreements 0 0 - 7,388 U.S. government securities (2) Bought outright--Bills 181,973 - 11,861 - 15,431 Notes (3) 218,466 + 886 + 30,571 Bonds (4) 82,978 + 1 + 13,504 Total bought outright (5) 483,417 - 10,974 + 28,645 Held under repurchase agreements (1) 0 0 - 15,549 Total U.S. government securities 483,417 - 10,974 + 13,096 Total loans and securities 609,340 + 41,464 + 129,624 Items in process of collection (667) 6,925 - 1,971 - 1,970 Bank premises 1,356 0 + 59 Other assets (6) 33,833 + 490 - 1,976 TOTAL ASSETS (667) 668,906 + 39,949 + 122,584 LIABILITIES Federal Reserve notes 600,921 + 16,683 + 108,397 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 16,729 + 3,402 - 2,202 U.S. Treasury--general account 25,923 + 21,182 + 15,749 Foreign--official accounts 234 + 146 + 68 Other (0) 183 - 27 + 19 Total deposits (0) 43,069 + 24,703 + 13,634 Deferred availability cash items (667) 6,632 - 1,348 - 774 Other liabilities and accrued dividends (7) 4,478 - 127 + 14 TOTAL LIABILITIES (667) 655,099 + 39,909 + 121,270 CAPITAL ACCOUNTS Capital paid in 6,432 + 7 + 481 Surplus 5,952 0 + 706 Other capital accounts 1,422 + 32 + 126 *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 $ 178 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 $ 49 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 33,727 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 3,235 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 29, 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 2,851 15,634 + 2,763 0 0 82,055 0 16 to 90 days 10 83,448 - 14,219 31 0 40,815 0 91 days to 1 year 11 141,030 - 405 20 0 ------ ------ Over 1 to 5 years 125,929 + 885 10 0 ------ ------ Over 5 to 10 years 51,106 + 1 120 0 ------ ------ Over 10 years 66,270 + 1 0 0 ------ ------ Total 2,872 483,417 - 10,974 181 0 122,870 0 1 Includes $ 5,476 million of inflation-indexed securities valued at the original face amount and $ 227 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 29, 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. 6,200 307 2,431 187 299 516 450 549 175 78 175 341 692 Coin 203 4 10 8 12 35 19 31 9 12 16 15 32 Loans 2,872 222 743 10 21 18 436 1,262 86 14 18 13 29 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 122,870 0 122,870 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 181,973 9,410 72,470 5,450 10,533 13,690 11,077 17,091 5,986 2,176 5,457 9,067 19,565 Notes (3) 218,466 11,298 87,003 6,543 12,646 16,435 13,298 20,518 7,186 2,613 6,551 10,886 23,489 Bonds (4) 82,978 4,291 33,046 2,485 4,803 6,242 5,051 7,793 2,729 992 2,488 4,135 8,922 Total bought outright(5) 483,417 24,999 192,519 14,479 27,982 36,367 29,425 45,403 15,902 5,782 14,497 24,087 51,975 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 483,417 24,999 192,519 14,479 27,982 36,367 29,425 45,403 15,902 5,782 14,497 24,087 51,975 Total loans and securities 609,340 25,230 316,204 14,495 28,014 36,399 29,872 46,681 15,994 5,798 14,520 24,109 52,024 Items in process of collection 7,592 520 947 256 321 509 657 641 291 492 467 290 2,203 Bank premises 1,356 93 164 50 156 125 139 107 32 128 51 146 165 Other assets(5) 33,833 1,516 11,481 1,015 1,974 4,613 2,108 3,003 841 765 852 1,383 4,281 Interdistrict settlement account 0 + 9,130 -64,516 + 8,904 + 3,236 - 298 +13,394 +20,812 + 5,476 - 3,009 + 3,881 - 9,039 +12,029 TOTAL ASSETS 669,573 37,332 271,156 25,234 34,578 42,733 47,363 72,817 23,156 4,405 20,275 17,820 72,704 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 $ 178 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 $ 49 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 33,727 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 3,235 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 29, 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 600,921 34,858 236,334 23,451 31,763 37,130 44,161 68,412 21,608 2,788 18,859 15,238 66,318 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 16,729 1,236 3,154 881 1,368 1,186 1,123 2,197 812 581 525 1,614 2,051 U.S. Treasury--general account 25,923 0 25,923 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 234 1 210 1 2 6 2 3 1 1 1 1 5 Other 183 2 149 0 5 15 1 1 1 0 2 4 2 Total deposits 43,069 1,239 29,437 882 1,375 1,207 1,126 2,201 813 582 528 1,619 2,058 Deferred credit items 7,299 386 840 327 266 583 811 571 231 465 353 275 2,192 Other liabilities and accrued dividends (2) 4,478 243 1,568 162 263 388 314 429 171 95 164 227 456 TOTAL LIABILITIES 655,766 36,726 268,179 24,822 33,667 39,308 46,412 71,614 22,823 3,930 19,904 17,358 71,024 CAPITAL ACCOUNTS Capital paid in 6,432 290 1,325 199 444 1,691 460 578 158 235 179 211 660 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 1,422 50 444 36 68 496 72 42 54 37 51 24 49 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 669,573 37,332 271,156 25,234 34,578 42,733 47,363 72,817 23,156 4,405 20,275 17,820 72,704 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 822,441 42,821 326,595 30,951 38,934 54,814 62,169 79,345 26,464 11,358 24,612 36,712 87,666 Less--Held by F.R. Banks 221,520 7,963 90,261 7,500 7,171 17,684 18,009 10,932 4,856 8,569 5,753 21,474 21,348 F.R. notes, net 600,921 34,858 236,334 23,451 31,763 37,130 44,161 68,412 21,608 2,788 18,859 15,238 66,318 Collateral held against F.R. notes Gold certificate account 11,048 Special drawing rights certificate account 6,200 Other eligible assets 0 U.S. govt. and agency securities(3) 583,673 Total collateral 600,921 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.