Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page

Release Date: November 26, 1999

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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.

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Last update: November 26, 1999