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 July 22, 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 Jul 21, 1999 Jul 14, 1999 Jul 22, 1998 Jul 21, 1999 Reserve Bank Credit (1,2) 523,417 - 3,786 + 46,553 520,480 U.S. government securities Bought outright-system account (3) 486,839 - 17 + 46,718 486,677 Held under repurchase agreements 1,607 + 252 - 986 415 Federal agency obligations Bought outright 254 - 3 - 272 254 Held under repurchase agreements 1,239 - 3,854 + 399 1,170 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 16 - 209 - 134 67 Seasonal credit 241 + 36 + 18 252 Extended credit 0 0 0 0 Float 296 + 2 - 125 -1,401 Other F.R. assets 32,926 + 7 + 937 33,045 Gold stock 11,046 + 1 0 11,047 Special drawing rights certificate account 8,200 0 - 1,000 8,200 Treasury currency outstanding 26,972 + 14 + 1,146 26,972 Total factors supplying reserve funds 569,634 - 3,772 + 46,698 566,699 Currency in circulation* 532,938 - 1,705 + 47,315 533,443 Treasury cash holdings* 56 - 31 - 132 53 Deposits,other than reserve balances,with F.R.Banks Treasury 5,056 - 208 - 99 4,566 Foreign 198 - 37 + 29 169 Service-related balances and adjustments (4) 7,219 + 187 + 253 7,219 Other 287 + 11 + 23 289 Other F.R. liabilities and capital 17,462 - 122 + 710 17,125 Total factors, other than reserve balances, absorbing reserve funds 563,215 - 1,906 + 48,098 562,864 Reserve balances with F.R. Banks (5) 6,419 - 1,867 - 1,400 3,835 On July 21, 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 599,477 million, a change of +$ 841 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 16,516 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 16,516 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 16,678 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 16,678 million was with foreign official and international accounts. Includes $ 917 million securities loaned--fully secured U.S. government securities. 3 Includes $ 5,108 million of inflation-indexed securities valued at the original face amount and $ 156 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,750 million and adjustments of $ 469 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 Jul 21, 1999 Jul 14, 1999 Jul 22, 1998 ASSETS Gold certificate account 11,047 + 2 + 1 Special drawing rights certificate account 8,200 0 - 1,000 Coin 289 - 1 - 116 Loans 319 + 102 + 76 Acceptances 0 0 0 Federal agency obligations Bought outright 254 0 - 272 Held under repurchase agreements (1) 1,170 - 5,816 - 786 U.S. government securities Bought outright--Bills 199,022 - 698 + 4,122 Notes (2) 209,771 - 36 + 30,885 Bonds (3) 77,884 0 + 15,566 Total bought outright (4) 486,677 - 734 + 50,574 Held under repurchase agreements (1) 415 - 2,757 - 4,246 Total U.S. government securities 487,092 - 3,491 + 41,667 Total loans and securities 488,836 - 9,204 + 45,347 Items in process of collection (672) 7,035 - 872 - 621 Bank premises 1,322 0 + 28 Other assets (5) 31,822 - 66 + 736 TOTAL ASSETS (672) 548,551 - 10,140 + 44,374 LIABILITIES Federal Reserve notes 506,812 - 1,106 + 45,604 Deposits Depository institutions 12,635 - 7,388 - 2,632 U.S. Treasury--general account 4,566 - 925 + 140 Foreign--official accounts 169 - 96 - 26 Other (0) 289 + 13 + 42 Total deposits (0) 17,660 - 8,395 - 2,475 Deferred availability cash items (672) 6,954 - 343 + 633 Other liabilities and accrued dividends (6) 4,028 - 295 - 502 TOTAL LIABILITIES (672) 535,454 - 10,138 + 43,260 CAPITAL ACCOUNTS Capital paid in 6,293 + 6 + 471 Surplus 5,952 0 + 732 Other capital accounts 852 - 8 - 88 *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 $ 3,938 million of inflation-indexed securities valued at the original face amount and $ 130 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 $ 26 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,678 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 917 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, July 21, 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 301 0 Within 15 days 17,267 + 2,330 1,175 - 5,816 16 to 90 days 18 0 16 to 90 days 100,396 + 373 21 0 Over 90 days 0 0 91 days to 1 year 134,552 - 6,568 58 0 Over 1 to 5 years 122,393 0 20 0 Over 5 to 10 years 49,861 + 373 150 0 Over 10 years 62,623 0 0 0 Total 319 0 Total 487,092 - 3,491 1,424 - 5,816 1 Includes $ 5,108 million of inflation-indexed securities valued at the original face amount and $ 156 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 July 21, 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 289 7 14 28 16 34 39 24 19 17 19 43 29 Loans 319 2 60 0 0 0 10 57 55 73 33 1 29 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 254 13 101 8 15 19 15 24 8 3 8 13 27 Held under repurchase agreements(1) 1,170 0 1,170 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 199,022 10,292 79,260 5,961 11,520 14,972 12,114 18,692 6,547 2,380 5,968 9,917 21,398 Notes (2) 209,771 10,848 83,540 6,283 12,143 15,781 12,769 19,702 6,900 2,509 6,291 10,452 22,554 Bonds (3) 77,884 4,028 31,017 2,333 4,508 5,859 4,741 7,315 2,562 931 2,336 3,881 8,374 Total bought outright(4) 486,677 25,168 193,817 14,577 28,171 36,613 29,624 45,709 16,009 5,821 14,594 24,250 52,326 Held under repurchase agreements(1) 415 0 415 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 487,092 25,168 194,232 14,577 28,171 36,613 29,624 45,709 16,009 5,821 14,594 24,250 52,326 Total loans and securities 488,836 25,182 195,563 14,585 28,186 36,632 29,649 45,790 16,072 5,896 14,635 24,263 52,382 Items in process of collection 7,707 410 883 305 354 736 817 551 185 594 470 319 2,083 Bank premises 1,322 93 163 50 157 124 104 107 31 129 52 147 165 Other assets(5) 31,822 1,457 10,559 957 1,886 4,335 2,012 2,882 810 720 821 1,330 4,053 Interdistrict settlement account 0 - 790 + 843 + 8,943 - 1,098 -12,269 - 2,447 + 8,693 + 2,631 - 3,179 + 2,271 - 1,070 - 2,528 TOTAL ASSETS 549,223 27,298 215,674 25,433 30,462 31,109 31,494 59,766 20,318 4,421 18,812 26,058 58,377 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 $ 3,938 million of inflation-indexed securities valued at the original face amount and $ 130 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 $ 26 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,678 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 917 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 July 21, 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 506,812 25,321 203,176 24,146 28,215 26,154 27,990 55,945 19,080 2,955 17,369 24,199 52,262 Deposits Depository institutions 12,635 746 2,635 493 786 1,099 1,444 1,603 462 388 482 826 1,671 U.S. Treasury--general account 4,566 0 4,566 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 169 7 53 4 10 30 10 14 3 5 3 6 24 Other 289 0 144 1 3 120 2 3 2 0 10 2 2 Total deposits 17,660 753 7,399 498 799 1,249 1,456 1,620 468 393 496 833 1,697 Deferred credit items 7,626 405 835 236 348 764 879 560 289 550 442 355 1,962 Other liabilities and accrued dividends (1) 4,028 223 1,425 152 239 317 280 386 155 85 152 209 406 TOTAL LIABILITIES 536,126 26,702 212,835 25,032 29,601 28,485 30,604 58,511 19,992 3,983 18,459 25,596 56,326 CAPITAL ACCOUNTS Capital paid in 6,293 285 1,315 194 416 1,299 430 604 155 217 171 210 996 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 852 43 316 31 46 88 41 68 50 19 42 24 83 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 549,223 27,298 215,674 25,433 30,462 31,109 31,494 59,766 20,318 4,421 18,812 26,058 58,377 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 739,343 32,521 294,918 30,089 35,754 50,701 50,213 69,998 25,025 11,410 24,295 37,362 77,057 Less--Held by F.R. Banks 232,531 7,199 91,742 5,944 7,539 24,547 22,223 14,053 5,945 8,455 6,927 13,163 24,795 F.R. notes, net 506,812 25,321 203,176 24,146 28,215 26,154 27,990 55,945 19,080 2,955 17,369 24,199 52,262 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 487,565 Total collateral 506,812 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.