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 November 26, 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 Nov 24, 1999 Nov 17, 1999 Nov 25, 1998 Nov 24, 1999 Reserve Bank Credit 562,987 + 1,263 + 68,825 570,957 U.S. government securities (1) Bought outright-system account (2,3) 494,001 + 1,324 + 41,175 494,529 Held under repurchase agreements 0 0 - 3,004 0 Federal agency obligations (1) Bought outright 181 0 - 191 181 Held under repurchase agreements 0 0 - 2,691 0 Repurchase agreements -- triparty (4) 35,095 + 1,426 + 35,095 41,455 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 69 - 366 - 15 299 Seasonal credit 59 0 + 36 64 Special Liquidity Facility 6 + 2 + 6 9 Extended credit 0 0 0 0 Float 486 + 67 - 141 1,096 Other F.R. assets 33,091 - 1,189 - 1,443 33,324 Gold stock 11,049 0 + 8 11,049 Special drawing rights certificate account 7,200 0 - 2,000 7,200 Treasury currency outstanding 27,555 + 26 + 1,396 27,555 Total factors supplying reserve funds 608,791 + 1,289 + 68,229 616,761 Currency in circulation* 573,044 + 4,906 + 69,127 578,547 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 95 0 - 3 85 Deposits,other than reserve balances,with F.R.Banks Treasury 5,340 + 614 + 314 4,525 Foreign 203 - 61 + 24 171 Service-related balances and adjustments (5) 7,162 + 80 + 369 7,162 Other 255 - 1 - 134 253 Other F.R. liabilities and capital 18,437 + 68 + 1,395 18,196 Total factors, other than reserve balances, absorbing reserve funds 604,536 + 5,607 + 71,091 608,939 Reserve balances with F.R. Banks (6) 4,255 - 4,318 - 2,862 7,822 On November 24, 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 612,257 million, a change of -$ 40 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 $ 15,599 million (daily average over statement week) and $ 15,797 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 15,599 million (daily average) and $ 15,797 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 2,039 million (daily average) and $ 1,006 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 $ 212 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 $ 6,924 million and adjustments of $ 238 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 November 24, 1999, option contracts on repurchase agreements were outstanding as follows: $ 98,850 million with exercise dates from December 23, 1999 through December 29, 1999; $ 198,000 million with exercise dates from December 30, 1999 through January 5, 2000; and $ 129,000 million with exercise dates from January 6, 2000 through January 12, 2000. 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 Nov 24, 1999 Nov 17, 1999 Nov 25, 1998 ASSETS Gold certificate account 11,049 0 + 9 Special drawing rights certificate account 7,200 0 - 2,000 Coin 261 - 11 - 138 Loans 372 - 1,812 + 226 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 41,455 + 6,135 + 41,455 Federal agency obligations (2) Bought outright 181 0 - 187 Held under repurchase agreements 0 0 - 4,662 U.S. government securities (2) Bought outright--Bills 199,902 - 512 + 2,735 Notes (3) 213,266 + 1,018 + 25,379 Bonds (4) 81,361 + 927 + 11,889 Total bought outright (5) 494,529 + 1,433 + 40,004 Held under repurchase agreements (1) 0 0 - 3,830 Total U.S. government securities 494,529 + 1,433 + 36,174 Total loans and securities 536,538 + 5,756 + 73,008 Items in process of collection (651) 8,204 - 653 + 573 Bank premises 1,348 + 1 + 53 Other assets (6) 31,784 + 661 - 2,376 TOTAL ASSETS (651) 596,384 + 5,755 + 69,128 LIABILITIES Federal Reserve notes 551,338 + 7,408 + 70,238 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 14,723 - 166 - 1,982 U.S. Treasury--general account 4,525 - 703 - 356 Foreign--official accounts 171 0 - 81 Other (0) 253 + 6 - 103 Total deposits (0) 19,673 - 863 - 2,520 Deferred availability cash items (651) 7,178 - 844 + 67 Other liabilities and accrued dividends (7) 4,583 + 65 + 155 TOTAL LIABILITIES (651) 582,771 + 5,765 + 67,939 CAPITAL ACCOUNTS Capital paid in 6,374 - 4 + 466 Surplus 5,952 0 + 732 Other capital accounts 1,287 - 7 - 9 *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 $ 167 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 $ 45 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 15,797 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,006 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, November 24, 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 358 16,011 + 4,216 0 0 5,295 0 16 to 90 days 11 99,625 - 4,524 31 0 36,160 0 91 days to 1 year 2 140,233 - 205 20 0 ------ ------ Over 1 to 5 years 123,135 + 1,015 10 0 ------ ------ Over 5 to 10 years 50,517 + 4 120 0 ------ ------ Over 10 years 65,009 + 927 0 0 ------ ------ Total 372 494,529 + 1,433 181 0 41,455 0 1 Includes $ 5,476 million of inflation-indexed securities valued at the original face amount and $ 212 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 November 24, 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 11,049 533 4,436 319 566 834 724 993 337 140 313 575 1,279 Special drawing rights certif. acct. 7,200 357 2,823 217 348 599 523 637 204 90 203 396 803 Coin 261 8 14 17 18 40 34 31 10 11 19 22 37 Loans 372 4 5 0 0 41 2 15 25 7 273 0 1 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 41,455 0 41,455 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 199,902 10,338 79,610 5,987 11,571 15,039 12,168 18,775 6,576 2,391 5,995 9,961 21,493 Notes (3) 213,266 11,029 84,932 6,388 12,345 16,044 12,981 20,030 7,015 2,551 6,395 10,626 22,930 Bonds (4) 81,361 4,207 32,401 2,437 4,710 6,121 4,952 7,641 2,676 973 2,440 4,054 8,748 Total bought outright(5) 494,529 25,574 196,944 14,812 28,626 37,203 30,102 46,446 16,267 5,914 14,830 24,641 53,170 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 494,529 25,574 196,944 14,812 28,626 37,203 30,102 46,446 16,267 5,914 14,830 24,641 53,170 Total loans and securities 536,538 25,587 238,476 14,818 28,636 37,257 30,115 46,478 16,298 5,924 15,109 24,650 53,190 Items in process of collection 8,855 536 1,051 521 464 694 745 661 442 562 537 407 2,235 Bank premises 1,348 93 164 50 156 124 131 107 32 128 51 146 165 Other assets(5) 31,784 1,430 10,433 905 1,887 4,510 2,010 2,853 787 750 806 1,302 4,111 Interdistrict settlement account 0 + 5,791 -19,169 + 5,915 + 286 - 4,862 + 8,097 +16,935 + 3,405 - 4,995 + 1,692 -18,963 + 5,867 TOTAL ASSETS 597,035 34,335 238,228 22,763 32,360 39,197 42,379 68,696 21,514 2,610 18,729 8,536 67,688 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 $ 167 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 $ 45 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 15,797 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,006 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 November 24, 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 551,338 32,239 224,389 21,551 29,854 33,308 39,185 64,610 20,339 1,083 17,389 6,758 60,632 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 14,723 854 3,656 314 991 1,483 925 1,761 424 467 380 721 2,749 U.S. Treasury--general account 4,525 0 4,525 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 171 7 55 4 10 30 10 14 3 5 3 6 24 Other 253 0 153 0 4 79 1 1 0 2 2 7 2 Total deposits 19,673 860 8,390 318 1,005 1,592 936 1,776 427 474 386 733 2,775 Deferred credit items 7,828 386 972 314 334 600 1,002 635 244 507 427 334 2,072 Other liabilities and accrued dividends (2) 4,583 244 1,584 164 268 389 313 430 171 92 165 244 521 TOTAL LIABILITIES 583,422 33,730 235,334 22,347 31,461 35,890 41,436 67,451 21,181 2,155 18,367 8,070 65,999 CAPITAL ACCOUNTS Capital paid in 6,374 289 1,319 199 430 1,640 458 599 158 229 174 213 665 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 1,287 48 366 40 71 430 67 63 54 24 48 26 52 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 597,035 34,335 238,228 22,763 32,360 39,197 42,379 68,696 21,514 2,610 18,729 8,536 67,688 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 825,190 42,543 327,848 31,176 39,110 55,360 61,991 79,877 26,636 11,462 24,805 36,995 87,387 Less--Held by F.R. Banks 273,852 10,303 103,459 9,625 9,256 22,051 22,806 15,267 6,297 10,379 7,415 30,237 26,755 F.R. notes, net 551,338 32,239 224,389 21,551 29,854 33,308 39,185 64,610 20,339 1,083 17,389 6,758 60,632 Collateral held against F.R. notes Gold certificate account 11,049 Special drawing rights certificate account 7,200 Other eligible assets 0 U.S. govt. and agency securities(3) 533,089 Total collateral 551,338 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.