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 June 10, 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 Jun 9, 1999 Jun 2, 1999 Jun 10, 1998 Jun 9, 1999 Reserve Bank Credit (1,2) 519,709 - 4,943 + 47,210 520,447 U.S. government securities Bought outright-system account (3) 483,903 + 1,510 + 43,369 484,706 Held under repurchase agreements 1,079 - 4,477 + 1,079 425 Federal agency obligations Bought outright 311 0 - 240 311 Held under repurchase agreements 2,407 - 1,732 + 2,407 3,106 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 4 - 9 - 108 7 Seasonal credit 88 - 17 - 44 93 Extended credit 0 0 0 0 Float 411 + 414 - 290 136 Other F.R. assets 31,506 - 632 + 1,037 31,664 Gold stock 11,047 - 1 - 1 11,047 Special drawing rights certificate account 8,200 0 - 1,000 8,200 Treasury currency outstanding 26,778 + 14 + 1,034 26,778 Total factors supplying reserve funds 565,734 - 4,930 + 47,243 566,472 Currency in circulation* 528,859 + 654 + 47,478 529,435 Treasury cash holdings* 136 - 8 - 88 112 Deposits,other than reserve balances,with F.R.Banks Treasury 4,855 - 42 - 176 4,683 Foreign 165 - 20 + 3 166 Service-related balances and adjustments (4) 6,907 + 19 + 319 6,907 Other 262 + 29 - 74 253 Other F.R. liabilities and capital 17,430 - 96 + 721 17,362 Total factors, other than reserve balances, absorbing reserve funds 558,613 + 536 + 48,182 558,918 Reserve balances with F.R. Banks (5) 7,121 - 5,465 - 939 7,554 On June 9, 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 598,449 million, a change of -$ 3,724 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 17,494 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 17,494 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 16,695 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 16,695 million was with foreign official and international accounts. Includes $ 0 million securities loaned--fully secured U.S. government securities. 3 Includes $ 4,740 million of inflation-indexed securities valued at the original face amount and $ 126 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,624 million and adjustments of $ 282 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 Jun 9, 1999 Jun 2, 1999 Jun 10, 1998 ASSETS Gold certificate account 11,047 - 1 - 1 Special drawing rights certificate account 8,200 0 - 1,000 Coin 345 - 3 - 53 Loans 100 - 10 - 770 Acceptances 0 0 0 Federal agency obligations Bought outright 311 0 - 240 Held under repurchase agreements (1) 3,106 + 239 + 3,106 U.S. government securities Bought outright--Bills 199,004 + 2,614 + 2,270 Notes (2) 207,995 + 886 + 27,404 Bonds (3) 77,706 + 2 + 15,792 Total bought outright (4) 484,706 + 3,502 + 45,466 Held under repurchase agreements (1) 425 - 2,209 + 425 Total U.S. government securities 485,131 + 1,293 + 45,891 Total loans and securities 488,648 + 1,522 + 47,987 Items in process of collection (811) 7,833 - 5,220 + 909 Bank premises 1,316 + 1 + 23 Other assets (5) 30,366 + 60 + 1,086 TOTAL ASSETS (811) 547,754 - 3,641 + 48,951 LIABILITIES Federal Reserve notes 503,115 - 486 + 45,742 Deposits Depository institutions 14,804 + 255 + 1,944 U.S. Treasury--general account 4,683 - 296 - 404 Foreign--official accounts 166 - 104 + 14 Other (0) 253 - 13 - 93 Total deposits (0) 19,906 - 158 + 1,460 Deferred availability cash items (811) 7,371 - 3,248 + 1,043 Other liabilities and accrued dividends (6) 4,334 + 1 - 487 TOTAL LIABILITIES (811) 534,726 - 3,891 + 47,758 CAPITAL ACCOUNTS Capital paid in 6,264 + 17 + 475 Surplus 5,952 0 + 732 Other capital accounts 811 + 232 - 15 *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 $ 3,570 million of inflation-indexed securities valued at the original face amount and $ 106 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 $ 20 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,695 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 0 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, June 9, 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 24 0 Within 15 days 10,760 - 6,422 3,154 + 239 16 to 90 days 76 0 16 to 90 days 585,970 + 492,203 3,441 + 3,416 Over 90 days 0 0 91 days to 1 year 140,719 + 945 68 0 Over 1 to 5 years 121,098 + 2 20 0 Over 5 to 10 years 49,408 + 4 150 0 Over 10 years 62,617 + 2 0 0 Total 100 0 Total 485,131 + 1,293 3,417 + 239 1 Includes $ 4,740 million of inflation-indexed securities valued at the original face amount and $ 126 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 June 9, 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 11,047 533 4,434 319 566 834 724 993 337 140 313 575 1,279 Special drawing rights certif. acct. 8,200 406 3,215 247 396 683 596 725 232 103 231 451 915 Coin 345 13 14 43 13 38 41 37 20 24 21 42 39 Loans 100 2 0 0 0 0 9 14 23 26 16 7 3 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 311 16 124 9 18 23 19 29 10 4 9 15 33 Held under repurchase agreements(1) 3,106 0 3,106 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 199,004 10,291 79,252 5,961 11,519 14,971 12,113 18,691 6,546 2,380 5,968 9,916 21,396 Notes (2) 207,995 10,756 82,833 6,230 12,040 15,647 12,661 19,535 6,842 2,488 6,237 10,364 22,363 Bonds (3) 77,706 4,018 30,946 2,327 4,498 5,846 4,730 7,298 2,556 929 2,330 3,872 8,355 Total bought outright(4) 484,706 25,066 193,032 14,518 28,057 36,464 29,504 45,524 15,944 5,797 14,535 24,152 52,114 Held under repurchase agreements(1) 425 0 425 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 485,131 25,066 193,457 14,518 28,057 36,464 29,504 45,524 15,944 5,797 14,535 24,152 52,114 Total loans and securities 488,648 25,084 196,687 14,527 28,075 36,488 29,532 45,567 15,977 5,826 14,561 24,174 52,151 Items in process of collection 8,644 412 1,061 300 419 685 919 799 424 690 519 466 1,949 Bank premises 1,316 93 162 50 157 124 98 106 31 129 52 148 165 Other assets(5) 30,366 1,384 9,951 932 1,801 4,236 1,930 2,734 760 702 774 1,262 3,900 Interdistrict settlement account 0 + 656 - 1,834 + 6,608 - 1,742 -10,827 - 1,931 + 8,935 + 2,321 - 3,424 + 2,463 - 823 - 403 TOTAL ASSETS 548,565 28,582 213,689 23,025 29,685 32,261 31,907 59,896 20,103 4,192 18,934 26,295 59,995 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 $ 3,570 million of inflation-indexed securities valued at the original face amount and $ 106 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 $ 20 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,695 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 0 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 June 9, 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 503,115 26,497 199,414 21,721 26,876 27,338 28,600 55,612 18,735 2,557 17,450 24,450 53,866 Deposits Depository institutions 14,804 789 4,027 456 1,277 1,179 1,171 2,009 574 466 538 777 1,543 U.S. Treasury--general account 4,683 0 4,683 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 166 7 50 4 10 30 10 14 3 5 3 6 24 Other 253 0 140 1 1 91 2 1 1 0 8 2 6 Total deposits 19,906 795 8,900 461 1,288 1,300 1,183 2,024 577 471 549 784 1,572 Deferred credit items 8,182 462 1,008 266 419 638 942 611 322 638 433 381 2,061 Other liabilities and accrued dividends (1) 4,334 231 1,539 159 258 357 298 413 162 88 160 221 449 TOTAL LIABILITIES 535,537 27,986 210,862 22,606 28,841 29,633 31,023 58,660 19,796 3,754 18,592 25,837 57,948 CAPITAL ACCOUNTS Capital paid in 6,264 285 1,312 202 407 1,301 433 590 148 217 164 208 997 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 811 44 307 40 39 90 33 63 37 19 38 23 79 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 548,565 28,582 213,689 23,025 29,685 32,261 31,907 59,896 20,103 4,192 18,934 26,295 59,995 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 716,340 32,078 286,097 25,478 33,048 51,242 48,114 68,708 23,944 11,215 23,730 36,128 76,558 Less--Held by F.R. Banks 213,225 5,581 86,683 3,758 6,172 23,904 19,514 13,096 5,209 8,659 6,280 11,678 22,692 F.R. notes, net 503,115 26,497 199,414 21,721 26,876 27,338 28,600 55,612 18,735 2,557 17,450 24,450 53,866 Collateral held against F.R. notes Gold certificate account 11,047 Special drawing rights certificate account 8,200 Other eligible assets 0 U.S. govt. and agency securities 483,868 Total collateral 503,115 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.