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 August 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 Aug 25, 1999 Aug 18, 1999 Aug 26, 1998 Aug 25, 1999 Reserve Bank Credit (1,2) 527,424 - 532 + 46,431 532,606 U.S. government securities Bought outright-system account (3) 489,467 + 2,282 + 47,189 490,096 Held under repurchase agreements 642 - 410 - 2,170 1,195 Federal agency obligations Bought outright 247 - 2 - 204 238 Held under repurchase agreements 4,527 - 1,120 + 889 8,250 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 36 + 11 + 32 33 Seasonal credit 279 + 12 + 25 289 Extended credit 0 0 0 0 Float 174 - 146 - 247 201 Other F.R. assets 32,052 - 1,158 + 917 32,304 Gold stock 11,047 0 + 3 11,046 Special drawing rights certificate account 8,200 0 - 1,000 8,200 Treasury currency outstanding 27,116 + 14 + 1,214 27,116 Total factors supplying reserve funds 573,787 - 518 + 46,648 578,968 Currency in circulation* 536,056 - 224 + 48,280 537,160 Treasury cash holdings* 83 + 21 - 10 84 Deposits,other than reserve balances,with F.R.Banks Treasury 4,851 - 229 - 54 5,401 Foreign 180 - 27 + 13 164 Service-related balances and adjustments (4) 7,033 + 27 - 135 7,032 Other 282 + 15 - 91 266 Other F.R. liabilities and capital 18,044 + 184 + 967 17,934 Total factors, other than reserve balances, absorbing reserve funds 566,529 - 234 + 48,971 568,041 Reserve balances with F.R. Banks (5) 7,258 - 284 - 2,323 10,927 On August 25, 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 607,906 million, a change of +$ 1,232 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 16,534 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 16,534 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 16,482 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 16,482 million was with foreign official and international accounts. Includes $ 704 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 $ 6,739 million and adjustments of $ 293 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 Aug 25, 1999 Aug 18, 1999 Aug 26, 1998 ASSETS Gold certificate account 11,046 - 1 0 Special drawing rights certificate account 8,200 0 - 1,000 Coin 302 0 - 112 Loans 321 + 19 + 61 Acceptances 0 0 0 Federal agency obligations Bought outright 238 - 11 - 213 Held under repurchase agreements (1) 8,250 + 3,350 + 3,286 U.S. government securities Bought outright--Bills 199,218 - 540 + 1,143 Notes (2) 210,829 + 1,256 + 33,524 Bonds (3) 80,049 + 1,090 + 14,074 Total bought outright (4) 490,096 + 1,806 + 48,741 Held under repurchase agreements (1) 1,195 + 530 - 8,077 Total U.S. government securities 491,291 + 2,336 + 31,392 Total loans and securities 500,101 + 5,694 + 43,800 Items in process of collection (684) 7,130 + 49 + 595 Bank premises 1,330 + 7 + 36 Other assets (5) 31,054 + 690 + 673 TOTAL ASSETS (684) 559,163 + 6,438 + 43,991 LIABILITIES Federal Reserve notes 510,430 + 133 + 46,791 Deposits Depository institutions 18,375 + 5,908 - 5,257 U.S. Treasury--general account 5,401 + 498 + 1,070 Foreign--official accounts 164 - 77 + 2 Other (0) 266 + 3 - 99 Total deposits (0) 24,206 + 6,331 - 4,285 Deferred availability cash items (684) 6,593 - 435 + 450 Other liabilities and accrued dividends (6) 4,558 + 372 - 291 TOTAL LIABILITIES (684) 545,788 + 6,402 + 42,666 CAPITAL ACCOUNTS Capital paid in 6,302 + 5 + 438 Surplus 5,952 0 + 732 Other capital accounts 1,121 + 32 + 156 *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 $ 16,482 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 704 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, August 25, 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 288 0 Within 15 days 13,846 - 4,950 8,250 + 3,339 16 to 90 days 33 0 16 to 90 days 99,148 - 185 27 0 Over 90 days 0 0 91 days to 1 year 140,219 + 5,125 41 0 Over 1 to 5 years 123,110 + 824 20 0 Over 5 to 10 years 50,195 + 447 150 0 Over 10 years 64,773 + 1,075 0 0 Total 321 0 Total 491,291 + 2,336 8,488 + 3,339 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 August 25, 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 11,046 533 4,433 319 566 834 724 993 337 140 313 575 1,279 Special drawing rights certif. acct. 8,200 406 3,215 247 396 683 596 725 232 103 231 451 915 Coin 302 6 10 17 21 39 43 30 21 15 25 43 33 Loans 321 0 0 6 0 0 10 73 68 73 44 2 46 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 238 12 95 7 14 18 14 22 8 3 7 12 26 Held under repurchase agreements(1) 8,250 0 8,250 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 199,218 10,302 79,338 5,967 11,532 14,987 12,126 18,711 6,553 2,383 5,974 9,926 21,419 Notes (2) 210,829 10,903 83,962 6,315 12,204 15,861 12,833 19,801 6,935 2,521 6,322 10,505 22,668 Bonds (3) 80,049 4,140 31,879 2,398 4,634 6,022 4,873 7,518 2,633 957 2,401 3,989 8,607 Total bought outright(4) 490,096 25,344 195,178 14,679 28,369 36,870 29,832 46,030 16,121 5,861 14,697 24,420 52,694 Held under repurchase agreements(1) 1,195 0 1,195 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 491,291 25,344 196,373 14,679 28,369 36,870 29,832 46,030 16,121 5,861 14,697 24,420 52,694 Total loans and securities 500,101 25,357 204,718 14,692 28,383 36,888 29,856 46,125 16,197 5,938 14,748 24,434 52,765 Items in process of collection 7,814 374 1,015 391 310 500 739 565 404 696 333 411 2,077 Bank premises 1,330 93 163 50 157 124 113 107 31 129 52 147 165 Other assets(5) 31,054 1,409 10,189 889 1,847 4,369 1,971 2,796 774 726 794 1,282 4,008 Interdistrict settlement account 0 + 323 - 2,292 + 6,830 - 2,445 -10,877 + 1,082 +15,653 + 2,753 - 2,815 + 1,860 - 7,600 - 2,472 TOTAL ASSETS 559,847 28,500 221,451 23,436 29,235 32,561 35,124 66,993 20,749 4,932 18,354 19,742 58,770 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 $ 16,482 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 704 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 August 25, 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 510,430 25,423 206,757 22,041 26,502 26,790 31,893 61,243 19,057 3,269 16,888 17,716 52,852 Deposits Depository institutions 18,375 1,902 3,675 549 1,309 1,474 1,209 3,542 816 607 560 969 1,763 U.S. Treasury--general account 5,401 0 5,401 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 164 7 48 4 10 30 10 14 3 5 3 6 24 Other 266 0 136 0 2 106 1 1 2 0 8 2 7 Total deposits 24,206 1,909 9,260 554 1,321 1,610 1,220 3,557 821 612 571 977 1,793 Deferred credit items 7,277 334 825 282 298 554 822 526 376 539 372 364 1,986 Other liabilities and accrued dividends (1) 4,558 233 1,770 157 256 350 300 409 165 90 162 223 444 TOTAL LIABILITIES 546,472 27,900 218,611 23,034 28,376 29,303 34,236 65,736 20,420 4,509 17,993 19,280 57,075 CAPITAL ACCOUNTS Capital paid in 6,302 287 1,316 194 415 1,631 430 606 158 209 174 211 671 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 1,121 46 315 31 44 389 41 68 51 11 46 25 52 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 559,847 28,500 221,451 23,436 29,235 32,561 35,124 66,993 20,749 4,932 18,354 19,742 58,770 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 774,639 33,883 306,177 31,147 36,316 52,771 56,427 76,963 26,175 11,450 24,848 37,701 80,781 Less--Held by F.R. Banks 264,208 8,459 99,421 9,106 9,814 25,981 24,535 15,720 7,118 8,181 7,960 19,985 27,929 F.R. notes, net 510,430 25,423 206,757 22,041 26,502 26,790 31,893 61,243 19,057 3,269 16,888 17,716 52,852 Collateral held against F.R. notes Gold certificate account 11,046 Special drawing rights certificate account 8,200 Other eligible assets 0 U.S. govt. and agency securities 491,184 Total collateral 510,430 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.