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 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 Apr 21, 1999 Apr 14, 1999 Apr 22, 1998 Apr 21, 1999 Reserve Bank Credit (1,2) 513,586 + 1,664 + 37,463 514,262 U.S. government securities Bought outright-system account (3) 470,563 + 896 + 29,961 470,506 Held under repurchase agreements 6,685 + 189 + 4,347 5,880 Federal agency obligations Bought outright 311 0 - 254 311 Held under repurchase agreements 2,022 + 362 + 1,335 1,334 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 199 + 167 + 185 1,367 Seasonal credit 36 + 6 - 7 41 Extended credit 0 0 0 0 Float 130 - 161 - 178 1,078 Other F.R. assets 33,640 + 205 + 2,074 33,746 Gold stock 11,049 - 1 0 11,049 Special drawing rights certificate account 8,200 0 - 1,000 8,200 Treasury currency outstanding 26,606 + 14 + 905 26,606 Total factors supplying reserve funds 559,441 + 1,677 + 37,368 560,117 Currency in circulation* 519,558 - 331 + 42,733 520,296 Treasury cash holdings* 145 + 4 - 132 145 Deposits,other than reserve balances,with F.R.Banks Treasury 6,790 + 1,937 - 1,104 6,690 Foreign 215 + 27 + 30 193 Service-related balances and adjustments (4) 6,717 + 46 - 142 6,718 Other 283 - 22 - 66 240 Other F.R. liabilities and capital 17,269 - 53 + 941 17,007 Total factors, other than reserve balances, absorbing reserve funds 550,977 + 1,608 + 42,259 551,289 Reserve balances with F.R. Banks (5) 8,464 + 68 - 4,892 8,828 On April 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 596,243 million, a change of -$ 5,027 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 16,421 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 16,421 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 16,981 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 16,981 million was with foreign official and international accounts. Includes $ 0 million securities loaned--fully secured U.S. government securities. 3 Includes $ 4,437 million of inflation-indexed securities valued at the original face amount and $ 91 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,456 million and adjustments of $ 261 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 Apr 21, 1999 Apr 14, 1999 Apr 22, 1998 ASSETS Gold certificate account 11,049 + 1 0 Special drawing rights certificate account 8,200 0 - 1,000 Coin 415 + 7 - 57 Loans 1,408 + 1,301 + 1,265 Acceptances 0 0 0 Federal agency obligations Bought outright 311 0 - 254 Held under repurchase agreements (1) 1,334 0 - 1,283 U.S. government securities Bought outright--Bills 198,718 - 882 - 607 Notes (2) 197,120 - 373 + 16,535 Bonds (3) 74,667 + 350 + 12,754 Total bought outright (4) 470,506 - 903 + 28,682 Held under repurchase agreements (1) 5,880 0 - 4,345 Total U.S. government securities 476,386 - 903 + 24,337 Total loans and securities 479,439 + 398 + 24,066 Items in process of collection (488) 9,065 + 1,155 + 1,743 Bank premises 1,309 + 1 + 24 Other assets (5) 32,368 + 118 + 1,060 TOTAL ASSETS (488) 541,845 + 1,680 + 25,837 LIABILITIES Federal Reserve notes 494,250 - 548 + 42,025 Deposits Depository institutions 15,283 - 459 - 11,780 U.S. Treasury--general account 6,690 + 2,533 - 6,260 Foreign--official accounts 193 + 2 + 31 Other (0) 240 - 66 - 110 Total deposits (0) 22,406 + 2,010 - 18,119 Deferred availability cash items (488) 8,182 + 251 + 1,081 Other liabilities and accrued dividends (6) 4,184 - 55 - 623 TOTAL LIABILITIES (488) 529,023 + 1,658 + 24,364 CAPITAL ACCOUNTS Capital paid in 6,166 - 6 + 693 Surplus 5,952 0 + 732 Other capital accounts 704 + 27 + 48 *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 $ 77 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 $ 14 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,981 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, April 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 1,406 0 Within 15 days 20,105 - 291 1,334 0 16 to 90 days 2 0 16 to 90 days 96,179 - 1,692 32 0 Over 90 days 0 0 91 days to 1 year 138,454 + 394 84 0 Over 1 to 5 years 113,786 + 335 20 0 Over 5 to 10 years 47,221 + 1 175 0 Over 10 years 60,642 + 350 0 0 Total 1,408 0 Total 476,386 - 903 1,645 0 1 Includes $ 4,437 million of inflation-indexed securities valued at the original face amount and $ 91 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 April 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 11,049 533 4,436 319 566 834 724 993 337 140 313 575 1,279 Special drawing rights certif. acct. 8,200 406 3,215 247 396 683 596 725 232 103 231 451 915 Coin 415 23 19 52 22 50 38 50 18 27 25 40 51 Loans 1,408 2 199 1 91 90 142 505 15 7 7 0 350 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) 1,334 0 1,334 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 198,718 10,276 79,139 5,952 11,503 14,950 12,096 18,664 6,537 2,377 5,959 9,902 21,366 Notes (2) 197,120 10,194 78,502 5,904 11,410 14,829 11,999 18,514 6,484 2,358 5,911 9,822 21,194 Bonds (3) 74,667 3,861 29,736 2,236 4,322 5,617 4,545 7,013 2,456 893 2,239 3,720 8,028 Total bought outright(4) 470,506 24,331 187,377 14,092 27,235 35,396 28,639 44,190 15,477 5,627 14,110 23,444 50,587 Held under repurchase agreements(1) 5,880 0 5,880 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 476,386 24,331 193,257 14,092 27,235 35,396 28,639 44,190 15,477 5,627 14,110 23,444 50,587 Total loans and securities 479,439 24,349 194,913 14,103 27,344 35,509 28,800 44,724 15,502 5,638 14,126 23,459 50,971 Items in process of collection 9,553 576 1,040 400 394 714 981 840 363 602 485 796 2,362 Bank premises 1,309 93 160 50 157 125 89 107 31 130 53 148 164 Other assets(5) 32,368 1,444 11,182 903 1,881 4,393 2,005 2,850 797 727 810 1,316 4,058 Interdistrict settlement account 0 + 2,041 - 4,733 + 4,724 - 2,534 - 7,461 - 1,926 + 8,920 + 2,063 - 2,289 + 1,724 - 1,151 + 622 TOTAL ASSETS 542,333 29,465 210,234 20,797 28,227 34,848 31,308 59,209 19,343 5,077 17,767 25,635 60,422 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 $ 77 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 $ 14 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,981 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 April 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 494,250 27,433 196,179 19,485 25,724 30,016 27,625 54,301 17,664 3,474 16,112 23,298 52,941 Deposits Depository institutions 15,283 684 1,862 452 1,003 1,211 1,518 2,683 895 492 701 991 2,792 U.S. Treasury--general account 6,690 0 6,690 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 193 7 77 4 10 30 10 14 3 5 3 6 24 Other 240 0 141 1 2 79 5 1 1 1 7 1 2 Total deposits 22,406 691 8,770 457 1,015 1,320 1,533 2,698 899 498 712 997 2,817 Deferred credit items 8,670 525 973 302 414 648 1,007 574 327 590 458 650 2,202 Other liabilities and accrued dividends (1) 4,184 223 1,473 154 251 336 285 395 159 91 154 216 447 TOTAL LIABILITIES 529,510 28,872 207,394 20,398 27,404 32,319 30,449 57,969 19,048 4,653 17,436 25,161 58,407 CAPITAL ACCOUNTS Capital paid in 6,166 285 1,308 202 394 1,249 415 598 140 210 158 226 983 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 704 41 323 21 31 42 26 60 34 12 32 20 61 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 542,333 29,465 210,234 20,797 28,227 34,848 31,308 59,209 19,343 5,077 17,767 25,635 60,422 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 681,449 32,691 270,316 22,257 31,102 51,220 45,133 66,687 21,887 10,099 20,689 34,402 74,965 Less--Held by F.R. Banks 187,199 5,258 74,137 2,772 5,378 21,204 17,509 12,386 4,223 6,625 4,577 11,105 22,024 F.R. notes, net 494,250 27,433 196,179 19,485 25,724 30,016 27,625 54,301 17,664 3,474 16,112 23,298 52,941 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 475,001 Total collateral 494,250 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.