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 January 14, 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 Jan 13, 1999 Jan 6, 1999 Jan 14, 1998 Jan 13, 1999 Reserve Bank Credit (1,2) 500,534 - 15,343 + 32,251 503,250 U.S. government securities Bought outright-system account (3) 454,690 + 2,369 + 23,709 456,411 Held under repurchase agreements 3,820 - 11,171 + 387 3,700 Federal agency obligations Bought outright 338 0 - 347 338 Held under repurchase agreements 3,256 - 4,918 + 2,431 4,472 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 697 + 673 + 675 145 Seasonal credit 6 - 6 - 15 7 Extended credit 0 0 0 0 Float 1,765 - 1,160 + 1,075 2,080 Other F.R. assets 35,962 - 1,131 + 4,335 36,098 Gold stock 11,046 0 0 11,046 Special drawing rights certificate account 9,200 0 0 9,200 Treasury currency outstanding 26,295 + 14 + 668 26,295 Total factors supplying reserve funds 547,075 - 15,329 + 32,919 549,791 Currency in circulation* 511,477 - 5,428 + 36,241 510,280 Treasury cash holdings* 85 0 - 143 86 Deposits,other than reserve balances,with F.R.Banks Treasury 5,423 - 569 + 170 5,006 Foreign 189 + 20 + 12 214 Service-related balances and adjustments (4) 7,892 + 839 + 880 7,892 Other 207 - 1,193 - 45 200 Other F.R. liabilities and capital 16,874 + 478 + 634 16,613 Total factors, other than reserve balances, absorbing reserve funds 542,147 - 5,853 + 37,749 540,291 Reserve balances with F.R. Banks (5) 4,928 - 9,476 - 4,830 9,500 On January 13, 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 600,099 million, a change of +$ 152 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 18,378 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 17,293 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 16,657 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 16,657 million was with foreign official and international accounts. Includes $ 248 million securities loaned--fully secured U.S. government securities. 3 Includes $ 3,687 million of inflation-indexed securities valued at the original face amount and $ 79 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,787 million and adjustments of $ 1,105 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 Jan 13, 1999 Jan 6, 1999 Jan 14, 1998 ASSETS Gold certificate account 11,046 0 0 Special drawing rights certificate account 9,200 0 0 Coin 386 + 33 - 90 Loans 152 + 43 + 112 Acceptances 0 0 0 Federal agency obligations Bought outright 338 0 - 347 Held under repurchase agreements (1) 4,472 + 1,119 + 2,256 U.S. government securities Bought outright--Bills 199,042 + 766 + 941 Notes (2) 187,895 0 + 13,689 Bonds (3) 69,474 0 + 10,067 Total bought outright (4) 456,411 + 766 + 24,698 Held under repurchase agreements (1) 3,700 - 807 - 1,765 Total U.S. government securities 460,111 - 41 + 22,933 Total loans and securities 465,073 + 1,121 + 24,954 Items in process of collection (476) 10,114 - 2,946 + 2,429 Bank premises 1,300 0 + 25 Other assets (5) 34,780 + 256 + 3,684 TOTAL ASSETS (476) 531,897 - 1,537 + 31,002 LIABILITIES Federal Reserve notes 484,456 - 4,888 + 35,425 Deposits Depository institutions 17,730 + 3,965 - 6,419 U.S. Treasury--general account 5,006 + 47 + 362 Foreign--official accounts 214 + 44 + 57 Other 200 + 38 - 137 Total deposits 23,150 + 4,093 - 6,137 Deferred availability cash items (476) 7,678 - 888 + 1,072 Other liabilities and accrued dividends (6) 4,194 + 105 - 581 TOTAL LIABILITIES (476) 519,478 - 1,579 + 29,780 CAPITAL ACCOUNTS Capital paid in 5,960 0 + 487 Surplus 5,952 0 + 732 Other capital accounts 507 + 42 + 4 *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 $ 2,867 million of inflation-indexed securities valued at the original face amount and $ 68 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Includes $ 820 million of inflation-indexed securities valued at the original face amount and $ 11 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,657 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 248 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, January 13, 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 148 0 Within 15 days 12,752 - 4,498 4,474 + 1,846 16 to 90 days 4 0 16 to 90 days 103,096 - 613 25 - 727 Over 90 days 0 0 91 days to 1 year 136,043 + 5,070 75 0 Over 1 to 5 years 107,730 0 61 0 Over 5 to 10 years 44,822 0 175 0 Over 10 years 55,669 0 0 0 Total 152 0 Total 460,111 - 41 4,810 + 1,119 1 Includes $ 3,687 million of inflation-indexed securities valued at the original face amount and $ 79 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 January 13, 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 11,046 582 4,206 323 643 807 717 998 358 128 289 530 1,465 Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241 Coin 386 24 15 25 20 58 46 39 20 16 25 43 55 Loans 152 1 0 0 0 0 0 23 2 0 1 0 125 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 338 18 125 10 22 27 21 32 12 4 9 15 42 Held under repurchase agreements(1) 4,472 0 4,472 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 199,042 10,840 73,773 5,787 12,936 15,679 12,108 19,108 6,995 2,187 5,522 9,050 25,057 Notes (2) 187,895 10,233 69,641 5,463 12,212 14,801 11,430 18,038 6,603 2,064 5,212 8,543 23,654 Bonds (3) 69,474 3,784 25,750 2,020 4,515 5,473 4,226 6,670 2,441 763 1,927 3,159 8,746 Total bought outright(4) 456,411 24,857 169,164 13,270 29,663 35,953 27,764 43,816 16,039 5,014 12,661 20,752 57,456 Held under repurchase agreements(1) 3,700 0 3,700 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 460,111 24,857 172,864 13,270 29,663 35,953 27,764 43,816 16,039 5,014 12,661 20,752 57,456 Total loans and securities 465,073 24,876 177,462 13,279 29,686 35,980 27,784 43,872 16,053 5,018 12,671 20,768 57,624 Items in process of collection 10,589 741 1,245 424 824 595 1,067 1,354 412 736 620 430 2,141 Bank premises 1,300 94 158 50 158 125 82 107 31 130 54 148 162 Other assets(5) 34,780 1,683 10,371 1,505 2,137 4,219 2,174 3,166 931 891 838 1,642 5,223 Interdistrict settlement account 0 +132 +6,230 +1,346 -5,715 +3,819 +2,423 +1,520 -305 +826 +972 +956 -12,203 TOTAL ASSETS 532,373 28,661 202,888 17,235 28,326 46,396 34,896 51,955 17,841 7,868 15,715 24,885 55,707 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 $ 2,867 million of inflation-indexed securities valued at the original face amount and $ 68 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Includes $ 820 million of inflation-indexed securities valued at the original face amount and $ 11 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,657 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 248 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 January 13, 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 484,456 26,543 189,651 15,795 25,584 40,760 31,349 46,818 16,246 6,069 14,166 22,479 48,996 Deposits Depository institutions 17,730 875 3,110 621 1,317 2,039 1,432 2,684 775 652 644 1,353 2,227 U.S. Treasury--general account 5,006 0 5,006 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 214 7 99 8 9 22 9 14 3 5 3 7 26 Other 200 0 103 1 3 72 3 1 0 0 14 1 2 Total deposits 23,150 882 8,318 629 1,329 2,133 1,445 2,698 779 658 662 1,362 2,255 Deferred credit items 8,154 475 868 292 305 643 949 814 392 648 442 360 1,967 Other liabilities and accrued dividends (1) 4,194 201 1,423 153 275 345 288 411 167 84 152 207 487 TOTAL LIABILITIES 519,954 28,102 200,260 16,869 27,493 43,881 34,031 50,741 17,585 7,458 15,422 24,408 53,704 CAPITAL ACCOUNTS Capital paid in 5,960 267 1,214 176 400 1,238 418 584 119 203 142 227 972 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 507 25 205 14 35 39 29 47 17 4 11 22 60 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 532,373 28,661 202,888 17,235 28,326 46,396 34,896 51,955 17,841 7,868 15,715 24,885 55,707 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 617,857 31,090 239,828 18,582 29,509 51,044 44,316 57,283 19,186 7,677 17,613 33,470 68,259 Less--Held by F.R. Banks 133,400 4,547 50,176 2,786 3,926 10,284 12,967 10,465 2,940 1,608 3,447 10,991 19,263 F.R. notes, net 484,456 26,543 189,651 15,795 25,584 40,760 31,349 46,818 16,246 6,069 14,166 22,479 48,996 Collateral held against F.R. notes Gold certificate account 11,046 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 464,211 Total collateral 484,456 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.