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 April 1, 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 Mar 31, 1999 Mar 24, 1999 Apr 1, 1998 Mar 31, 1999 Reserve Bank Credit (1,2) 509,538 + 1,167 + 41,284 516,425 U.S. government securities Bought outright-system account (3) 465,257 + 448 + 32,158 465,686 Held under repurchase agreements 7,863 - 143 + 5,678 12,730 Federal agency obligations Bought outright 311 0 - 314 311 Held under repurchase agreements 3,387 - 557 + 2,962 5,606 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 44 - 43 + 42 223 Seasonal credit 21 + 1 - 8 22 Extended credit 0 0 0 0 Float -3 + 448 - 286 -843 Other F.R. assets 32,657 + 1,011 + 1,051 32,690 Gold stock 11,048 0 - 1 11,049 Special drawing rights certificate account 8,200 0 - 1,000 8,200 Treasury currency outstanding 26,509 + 14 + 845 26,509 Total factors supplying reserve funds 555,294 + 1,180 + 41,127 562,182 Currency in circulation* 515,633 + 632 + 41,893 517,661 Treasury cash holdings* 135 + 1 - 129 135 Deposits,other than reserve balances,with F.R.Banks Treasury 5,160 - 149 + 127 5,374 Foreign 168 + 2 - 11 166 Service-related balances and adjustments (4) 6,817 - 417 - 28 6,817 Other 227 - 9 - 136 235 Other F.R. liabilities and capital 17,091 - 93 + 1,197 16,805 Total factors, other than reserve balances, absorbing reserve funds 545,230 - 33 + 42,913 547,193 Reserve balances with F.R. Banks (5) 10,065 + 1,214 - 1,785 14,990 On March 31, 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 597,554 million, a change of +$ 795 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 18,275 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 18,275 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 18,940 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 18,940 million was with foreign official and international accounts. Includes $ 153 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 $ 87 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,445 million and adjustments of $ 372 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 Mar 31, 1999 Mar 24, 1999 Apr 1, 1998 ASSETS Gold certificate account 11,049 + 2 0 Special drawing rights certificate account 8,200 0 - 1,000 Coin 428 - 18 - 92 Loans 246 + 228 + 218 Acceptances 0 0 0 Federal agency obligations Bought outright 311 0 - 314 Held under repurchase agreements (1) 5,606 + 1,073 + 4,578 U.S. government securities Bought outright--Bills 196,759 - 974 + 1,322 Notes (2) 194,968 + 1,414 + 18,532 Bonds (3) 73,959 + 502 + 12,471 Total bought outright (4) 465,686 + 942 + 32,325 Held under repurchase agreements (1) 12,730 - 4,283 + 9,433 Total U.S. government securities 478,416 - 3,341 + 41,758 Total loans and securities 484,578 - 2,041 + 46,239 Items in process of collection (463) 7,097 + 542 - 918 Bank premises 1,303 - 1 + 23 Other assets (5) 31,297 - 456 + 1,659 TOTAL ASSETS (463) 543,952 - 1,971 + 45,911 LIABILITIES Federal Reserve notes 491,715 + 1,563 + 41,386 Deposits Depository institutions 22,541 - 3,825 + 1,814 U.S. Treasury--general account 5,374 + 175 + 1,840 Foreign--official accounts 166 - 3 - 20 Other (0) 235 + 15 - 118 Total deposits (0) 28,316 - 3,639 + 3,516 Deferred availability cash items (463) 7,117 + 390 - 400 Other liabilities and accrued dividends (6) 4,328 - 121 - 273 TOTAL LIABILITIES (463) 531,475 - 1,809 + 44,227 CAPITAL ACCOUNTS Capital paid in 6,122 + 32 + 651 Surplus 5,944 - 8 + 742 Other capital accounts 411 - 187 + 291 *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 $ 74 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 $ 13 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 18,940 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 153 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, March 31, 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 243 0 Within 15 days 26,785 - 3,003 5,606 + 1,073 16 to 90 days 3 0 16 to 90 days 98,303 - 1,234 27 + 4 Over 90 days 0 0 91 days to 1 year 134,439 - 1,005 79 - 4 Over 1 to 5 years 112,263 + 1,397 30 0 Over 5 to 10 years 46,598 + 2 175 0 Over 10 years 60,029 + 502 0 0 Total 246 0 Total 478,416 - 3,341 5,917 + 1,073 1 Includes $ 4,087 million of inflation-indexed securities valued at the original face amount and $ 87 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 March 31, 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. 8,200 406 3,215 247 396 683 596 725 232 103 231 451 915 Coin 428 23 17 47 26 54 45 47 15 25 27 42 60 Loans 246 4 19 0 0 0 4 4 5 2 205 0 3 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 311 17 115 9 20 24 19 30 11 3 9 14 39 Held under repurchase agreements(1) 5,606 0 5,606 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 196,759 10,716 72,927 5,721 12,788 15,500 11,969 18,889 6,914 2,162 5,458 8,946 24,769 Notes (2) 194,968 10,618 72,263 5,668 12,671 15,358 11,860 18,717 6,851 2,142 5,409 8,865 24,544 Bonds (3) 73,959 4,028 27,412 2,150 4,807 5,826 4,499 7,100 2,599 813 2,052 3,363 9,311 Total bought outright(4) 465,686 25,362 172,602 13,539 30,266 36,684 28,328 44,707 16,365 5,116 12,918 21,174 58,624 Held under repurchase agreements(1) 12,730 0 12,730 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 478,416 25,362 185,332 13,539 30,266 36,684 28,328 44,707 16,365 5,116 12,918 21,174 58,624 Total loans and securities 484,578 25,383 191,072 13,548 30,286 36,709 28,351 44,741 16,381 5,122 13,132 21,188 58,666 Items in process of collection 7,561 453 859 363 380 480 825 652 364 553 420 370 1,842 Bank premises 1,303 93 158 50 157 125 89 106 31 130 53 148 163 Other assets(5) 31,297 1,419 10,441 893 1,900 4,339 1,935 2,768 786 699 747 1,202 4,167 Interdistrict settlement account 0 + 1,862 - 75 + 4,098 - 4,550 - 4,226 + 157 + 4,968 + 801 - 298 + 1,547 + 1,455 - 5,740 TOTAL ASSETS 544,416 30,221 209,896 19,569 29,238 38,971 32,715 55,005 18,968 6,462 16,446 25,386 61,537 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 $ 74 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 $ 13 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 18,940 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 153 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 March 31, 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 491,715 27,743 192,400 18,366 26,260 33,604 28,924 50,614 17,588 4,582 14,894 23,408 53,331 Deposits Depository institutions 22,541 1,200 6,630 441 1,427 1,945 1,661 2,218 598 853 728 961 3,880 U.S. Treasury--general account 5,374 0 5,374 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 235 1 161 1 4 30 10 4 8 1 12 1 3 Total deposits 28,316 1,208 12,215 446 1,440 2,005 1,681 2,237 610 859 743 967 3,906 Deferred credit items 7,580 457 914 263 449 547 988 540 337 527 342 353 1,862 Other liabilities and accrued dividends (1) 4,328 229 1,605 147 265 340 279 398 163 82 147 196 476 TOTAL LIABILITIES 531,939 29,637 207,134 19,223 28,414 36,497 31,873 53,789 18,697 6,050 16,126 24,925 59,575 CAPITAL ACCOUNTS Capital paid in 6,122 285 1,307 170 407 1,244 414 597 140 209 157 225 966 Surplus 5,944 267 1,208 176 399 1,231 418 583 121 202 140 227 972 Other capital accounts 411 33 247 0 19 0 10 36 10 1 23 9 25 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 544,416 30,221 209,896 19,569 29,238 38,971 32,715 55,005 18,968 6,462 16,446 25,386 61,537 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 665,942 32,886 262,567 21,106 31,019 51,301 45,227 62,714 21,575 9,191 19,367 33,947 75,042 Less--Held by F.R. Banks 174,228 5,143 70,168 2,740 4,759 17,697 16,303 12,100 3,987 4,609 4,472 10,539 21,711 F.R. notes, net 491,715 27,743 192,400 18,366 26,260 33,604 28,924 50,614 17,588 4,582 14,894 23,408 53,331 Collateral held against F.R. notes Gold certificate account 11,049 Special drawing rights certificate account 8,200 Other eligible assets 0 U.S. govt. and agency securities 472,466 Total collateral 491,715 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.