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 March 16, 2000 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 15, 2000 Mar 8, 2000 Mar 17, 1999 Mar 15, 2000 Reserve Bank Credit 555,117 + 277 + 47,504 560,784 U.S. government securities (1) Bought outright-system account (2,3) 501,927 - 220 + 37,730 502,215 Held under repurchase agreements 0 0 - 4,497 0 Federal agency obligations (1) Bought outright 150 0 - 161 150 Held under repurchase agreements 0 0 - 3,690 0 Repurchase agreements -- triparty (4) 20,104 + 368 + 20,104 25,045 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 30 - 25 + 26 18 Seasonal credit 63 - 1 + 47 66 Special Liquidity Facility 14 0 + 14 14 Extended credit 0 0 0 0 Float -197 - 249 - 259 117 Other F.R. assets 33,026 + 405 - 1,811 33,159 Gold stock 11,048 0 - 1 11,048 Special drawing rights certificate account 6,200 0 - 2,000 6,200 Treasury currency outstanding 28,366 + 14 + 1,793 28,366 Total factors supplying reserve funds 600,732 + 291 + 47,296 606,399 Currency in circulation* 563,375 - 29 + 48,596 564,245 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 164 + 5 + 32 168 Deposits,other than reserve balances,with F.R.Banks Treasury 5,457 + 99 - 856 7,611 Foreign 85 + 8 - 95 71 Service-related balances and adjustments (5) 6,977 + 177 + 81 6,977 Other 196 - 38 - 65 196 Other F.R. liabilities and capital 19,152 + 231 + 2,035 18,836 Total factors, other than reserve balances, absorbing reserve funds 595,405 + 452 + 49,728 598,105 Reserve balances with F.R. Banks (6) 5,327 - 161 - 2,431 8,294 On March 15, 2000, the face amount of marketable U.S. government and federal agency securities held in custody by the Federal Reserve Banks for foreign official and international accounts was $ 711,133 million, a change of $ + 10,293 million for the week. The total includes $ 628,361 million of U.S. government securities and $ 82,772 million of federal agency securities. 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 $ 16,874 million (daily average over statement week) and $ 16,588 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 16,874 million (daily average) and $ 16,588 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 302 million (daily average) and $ 0 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 5,792 million of inflation-indexed securities valued at the original face amount and $ 238 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 $ 6,496 million and adjustments of $ 480 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. Worksheet for H.4.1 (a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS Millions of Dollars Change Since * Wednesday Wednesday Wednesday Mar 15, 2000 Mar 8, 2000 Mar 17, 1999 ASSETS Gold certificate account 11,048 0 - 1 Special drawing rights certificate account 6,200 0 - 2,000 Coin 432 + 1 - 18 Loans 98 - 10 + 77 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 25,045 + 985 + 25,045 Federal agency obligations (2) Bought outright 150 0 - 161 Held under repurchase agreements 0 0 - 3,840 U.S. government securities (2) Bought outright--Bills 199,111 + 99 - 120 Notes (3) 217,848 + 3 + 25,355 Bonds (4) 85,256 + 1 + 12,475 Total bought outright (5) 502,215 + 103 + 37,709 Held under repurchase agreements (1) 0 0 - 4,495 Total U.S. government securities 502,215 + 103 + 33,214 Total loans and securities 527,508 + 1,078 + 54,336 Items in process of collection (790) 7,658 - 61 + 308 Bank premises 1,385 + 3 + 82 Other assets (6) 31,677 + 315 - 1,934 TOTAL ASSETS (790) 585,908 + 1,337 + 50,773 LIABILITIES Federal Reserve notes 536,480 - 255 + 46,695 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 15,316 - 475 + 1,178 U.S. Treasury--general account 7,611 + 2,255 + 1,293 Foreign--official accounts 71 - 14 - 102 Other (0) 196 + 4 - 51 Total deposits (0) 23,194 + 1,769 + 2,317 Deferred availability cash items (790) 7,399 - 150 - 169 Other liabilities and accrued dividends (7) 4,852 - 74 + 575 TOTAL LIABILITIES (790) 571,925 + 1,290 + 49,418 CAPITAL ACCOUNTS Capital paid in 6,708 + 2 + 631 Surplus 6,431 0 + 479 Other capital accounts 845 + 46 + 245 *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 $ 4,254 million of inflation-indexed securities valued at the original face amount and $ 186 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 $ 52 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 16,588 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 0 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, March 15, 2000 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 40 11,049 - 491 0 0 10,040 0 16 to 90 days 57 108,849 + 592 10 0 15,005 0 91 days to 1 year 0 139,631 0 10 0 ------ ------ Over 1 to 5 years 123,948 + 1 10 0 ------ ------ Over 5 to 10 years 50,944 + 1 120 0 ------ ------ Over 10 years 67,795 + 1 0 0 ------ ------ Total 98 502,215 + 103 150 0 25,045 0 1 Includes $ 5,792 million of inflation-indexed securities valued at the original face amount and $ 238 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 March 15, 2000 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco ASSETS Gold certificate account 11,048 533 4,435 319 566 834 724 993 337 140 313 575 1,279 Special drawing rights certif. acct. 6,200 307 2,431 187 299 516 450 549 175 78 175 341 692 Coin 432 13 24 16 22 52 42 61 23 28 33 48 73 Loans 98 8 0 0 0 0 15 28 9 16 8 1 12 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 25,045 0 25,045 0 0 0 0 0 0 0 0 0 0 Federal agency obligations(2) Bought outright 150 8 60 4 9 11 9 14 5 2 4 7 16 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 199,111 10,297 79,295 5,964 11,526 14,979 12,120 18,701 6,550 2,381 5,971 9,921 21,408 Notes (3) 217,848 11,266 86,757 6,525 12,610 16,389 13,260 20,460 7,166 2,605 6,533 10,855 23,422 Bonds (4) 85,256 4,409 33,953 2,554 4,935 6,414 5,189 8,007 2,804 1,020 2,557 4,248 9,166 Total bought outright(5) 502,215 25,971 200,005 15,042 29,071 37,782 30,569 47,168 16,520 6,006 15,060 25,024 53,997 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 502,215 25,971 200,005 15,042 29,071 37,782 30,569 47,168 16,520 6,006 15,060 25,024 53,997 Total loans and securities 527,508 25,987 225,110 15,047 29,079 37,793 30,594 47,210 16,534 6,025 15,073 25,032 54,025 Items in process of collection 8,449 468 1,081 361 344 512 756 646 375 520 487 372 2,527 Bank premises 1,385 94 164 50 158 124 167 106 33 128 50 145 165 Other assets(5) 31,677 1,421 10,671 985 1,915 5,185 1,997 2,688 853 756 864 1,238 3,102 Interdistrict settlement account 0 + 5,583 - 3,600 + 5,591 - 92 - 9,192 + 5,859 +12,446 + 2,199 - 4,140 + 626 -15,029 - 250 TOTAL ASSETS 586,699 34,405 240,316 22,556 32,291 35,824 40,589 64,698 20,529 3,534 17,621 12,723 61,612 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 $ 4,254 million of inflation-indexed securities valued at the original face amount and $ 186 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 $ 52 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 16,588 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 0 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 March 15, 2000 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco LIABILITIES Federal Reserve notes 536,480 31,283 224,073 20,503 29,507 29,782 37,282 60,363 19,316 1,688 16,187 11,108 55,386 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 15,316 1,748 2,454 1,102 1,233 1,685 1,038 1,922 391 749 458 601 1,936 U.S. Treasury--general account 7,611 0 7,611 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 71 1 48 1 2 8 2 3 1 1 1 1 3 Other 196 0 145 1 3 40 0 1 0 0 2 1 3 Total deposits 23,194 1,749 10,257 1,103 1,238 1,732 1,041 1,925 392 751 460 603 1,942 Deferred credit items 8,189 494 1,020 357 333 512 937 710 303 500 422 315 2,287 Other liabilities and accrued dividends (2) 4,852 265 1,733 174 286 395 336 460 183 97 175 249 499 TOTAL LIABILITIES 572,715 33,792 237,083 22,138 31,364 32,420 39,595 63,459 20,195 3,036 17,245 12,274 60,114 CAPITAL ACCOUNTS Capital paid in 6,708 292 1,492 201 449 1,677 481 594 158 252 180 213 719 Surplus 6,431 289 1,325 199 444 1,691 460 578 158 235 179 211 660 Other capital accounts 845 33 416 18 33 35 52 67 18 11 18 25 118 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 586,699 34,405 240,316 22,556 32,291 35,824 40,589 64,698 20,529 3,534 17,621 12,723 61,612 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 794,196 41,083 316,722 30,357 38,533 52,081 61,119 75,621 25,438 10,803 23,547 35,176 83,716 Less--Held by F.R. Banks 257,716 9,800 92,649 9,853 9,025 22,299 23,838 15,258 6,122 9,114 7,360 24,068 28,330 F.R. notes, net 536,480 31,283 224,073 20,503 29,507 29,782 37,282 60,363 19,316 1,688 16,187 11,108 55,386 Collateral held against F.R. notes Gold certificate account 11,048 Special drawing rights certificate account 6,200 Other eligible assets 0 U.S. govt. and agency securities(3) 519,231 Total collateral 536,480 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.