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 February 11, 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 Feb 10, 1999 Feb 3, 1999 Feb 11, 1998 Feb 10, 1999 Reserve Bank Credit (1,2) 500,970 + 1,903 + 39,701 510,183 U.S. government securities Bought outright-system account (3) 457,896 + 2,835 + 30,803 458,056 Held under repurchase agreements 2,895 - 779 + 2,621 6,651 Federal agency obligations Bought outright 336 0 - 346 336 Held under repurchase agreements 3,060 + 770 + 2,897 7,358 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 90 - 120 + 65 63 Seasonal credit 10 + 4 + 1 8 Extended credit 0 0 0 0 Float 302 - 566 - 635 917 Other F.R. assets 36,380 - 242 + 4,293 36,794 Gold stock 11,049 + 2 + 3 11,049 Special drawing rights certificate account 9,200 0 0 9,200 Treasury currency outstanding 26,286 + 14 + 676 26,286 Total factors supplying reserve funds 547,505 + 1,920 + 40,380 556,718 Currency in circulation* 508,437 + 2,133 + 37,941 510,648 Treasury cash holdings* 103 + 5 - 120 126 Deposits,other than reserve balances,with F.R.Banks Treasury 4,865 - 2,011 - 197 4,925 Foreign 217 - 2 + 54 204 Service-related balances and adjustments (4) 7,336 - 494 + 219 7,336 Other 267 + 21 - 155 266 Other F.R. liabilities and capital 16,576 + 301 + 436 16,736 Total factors, other than reserve balances, absorbing reserve funds 537,801 - 47 + 38,178 540,240 Reserve balances with F.R. Banks (5) 9,704 + 1,966 + 2,202 16,477 On February 10, 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 600,109 million, a change of +$ 1,605 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 16,556 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 16,426 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 16,837 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 16,837 million was with foreign official and international accounts. Includes $ 715 million securities loaned--fully secured U.S. government securities. 3 Includes $ 4,087 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 $ 6,511 million and adjustments of $ 825 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 Feb 10, 1999 Feb 3, 1999 Feb 11, 1998 ASSETS Gold certificate account 11,049 + 3 + 2 Special drawing rights certificate account 9,200 0 0 Coin 476 + 17 - 102 Loans 71 - 999 + 55 Acceptances 0 0 0 Federal agency obligations Bought outright 336 0 - 339 Held under repurchase agreements (1) 7,358 + 6,768 + 6,218 U.S. government securities Bought outright--Bills 198,863 + 2,840 + 2,515 Notes (2) 189,105 + 770 + 15,379 Bonds (3) 70,089 0 + 10,682 Total bought outright (4) 458,056 + 3,610 + 28,575 Held under repurchase agreements (1) 6,651 + 4,576 + 4,736 Total U.S. government securities 464,707 + 8,186 + 33,311 Total loans and securities 472,471 + 13,954 + 39,245 Items in process of collection (517) 7,815 - 2,762 - 185 Bank premises 1,302 + 2 + 25 Other assets (5) 35,507 + 549 + 4,332 TOTAL ASSETS (517) 537,820 + 11,764 + 43,318 LIABILITIES Federal Reserve notes 484,964 + 2,492 + 37,477 Deposits Depository institutions 23,896 + 9,928 + 4,150 U.S. Treasury--general account 4,925 - 470 + 524 Foreign--official accounts 204 - 11 + 52 Other (0) 266 - 9 - 136 Total deposits (0) 29,291 + 9,437 + 4,591 Deferred availability cash items (517) 6,830 - 1,051 + 487 Other liabilities and accrued dividends (6) 4,355 + 430 - 404 TOTAL LIABILITIES (517) 525,440 + 11,309 + 42,151 CAPITAL ACCOUNTS Capital paid in 6,001 + 63 + 529 Surplus 5,943 + 43 + 723 Other capital accounts 437 + 351 - 84 *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 $ 3,267 million of inflation-indexed securities valued at the original face amount and $ 67 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 $ 16,837 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 715 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, February 10, 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 65 0 Within 15 days 19,188 - 2,054 7,358 + 6,768 16 to 90 days 6 0 16 to 90 days 99,945 + 4,217 25 0 Over 90 days 0 0 91 days to 1 year 135,598 + 6,023 106 + 25 Over 1 to 5 years 108,470 - 1 30 - 25 Over 5 to 10 years 45,222 0 175 0 Over 10 years 56,283 - 1 0 0 Total 71 0 Total 464,707 + 8,186 7,694 + 6,768 1 Includes $ 4,087 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 February 10, 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 11,049 582 4,209 323 643 807 717 998 358 128 289 530 1,465 Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241 Coin 476 24 17 34 25 70 64 50 23 21 33 52 62 Loans 71 3 0 1 0 0 4 59 0 0 2 0 2 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 336 18 124 10 22 26 20 32 12 4 9 15 42 Held under repurchase agreements(1) 7,358 0 7,358 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 198,863 10,831 73,707 5,782 12,925 15,665 12,097 19,091 6,988 2,185 5,517 9,042 25,034 Notes (2) 189,105 10,299 70,090 5,498 12,290 14,897 11,503 18,154 6,645 2,078 5,246 8,598 23,806 Bonds (3) 70,089 3,817 25,978 2,038 4,555 5,521 4,264 6,729 2,463 770 1,944 3,187 8,823 Total bought outright(4) 458,056 24,947 169,774 13,317 29,770 36,083 27,864 43,974 16,097 5,032 12,707 20,827 57,663 Held under repurchase agreements(1) 6,651 0 6,651 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 464,707 24,947 176,425 13,317 29,770 36,083 27,864 43,974 16,097 5,032 12,707 20,827 57,663 Total loans and securities 472,471 24,968 183,907 13,328 29,792 36,109 27,888 44,066 16,109 5,036 12,718 20,842 57,708 Items in process of collection 8,332 490 890 442 342 629 1,241 582 280 698 442 330 1,967 Bank premises 1,302 93 160 50 158 125 84 106 32 130 53 148 162 Other assets(5) 35,507 1,640 10,966 1,005 2,214 5,239 2,265 3,265 893 845 865 1,395 4,915 Interdistrict settlement account 0 + 2,803 - 527 + 2,006 - 4,956 + 2,356 + 1,246 + 3,878 + 921 + 1,073 + 1,009 + 1,277 -11,086 TOTAL ASSETS 538,337 31,129 202,825 17,472 28,792 46,128 34,107 53,844 18,955 8,054 15,656 24,942 56,433 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 $ 3,267 million of inflation-indexed securities valued at the original face amount and $ 67 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 $ 16,837 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 715 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 February 10, 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 484,964 27,618 186,545 16,108 25,737 39,685 30,637 48,897 17,431 6,072 14,035 22,505 49,694 Deposits Depository institutions 23,896 2,296 6,062 510 1,620 2,893 1,349 2,818 758 916 769 1,432 2,473 U.S. Treasury--general account 4,925 0 4,925 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 204 7 88 4 10 30 10 14 3 5 3 6 24 Other 266 0 142 1 3 96 5 1 4 1 9 1 2 Total deposits 29,291 2,303 11,217 515 1,633 3,019 1,364 2,833 765 921 781 1,439 2,500 Deferred credit items 7,347 429 833 332 314 611 950 484 337 570 392 322 1,773 Other liabilities and accrued dividends (1) 4,355 233 1,551 152 274 347 290 409 167 82 152 204 495 TOTAL LIABILITIES 525,957 30,583 200,146 17,106 27,957 43,662 33,242 52,622 18,700 7,646 15,360 24,470 54,461 CAPITAL ACCOUNTS Capital paid in 6,001 260 1,268 177 402 1,234 419 591 119 209 142 224 957 Surplus 5,943 267 1,208 177 399 1,231 418 583 121 200 140 227 972 Other capital accounts 437 19 202 12 34 0 28 48 16 0 14 20 43 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 538,337 31,129 202,825 17,472 28,792 46,128 34,107 53,844 18,955 8,054 15,656 24,942 56,433 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 630,849 32,542 242,955 19,051 29,960 50,988 44,557 60,179 20,683 7,861 18,109 33,405 70,560 Less--Held by F.R. Banks 145,885 4,924 56,410 2,943 4,223 11,303 13,920 11,282 3,252 1,789 4,075 10,900 20,866 F.R. notes, net 484,964 27,618 186,545 16,108 25,737 39,685 30,637 48,897 17,431 6,072 14,035 22,505 49,694 Collateral held against F.R. notes Gold certificate account 11,049 Special drawing rights certificate account 9,200 Other eligible assets 0 U.S. govt. and agency securities 464,714 Total collateral 484,964 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.