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 February 4, 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 Feb 3, 1999 Jan 27, 1999 Feb 4, 1998 Feb 3, 1999 Reserve Bank Credit (1,2) 499,067 - 1,886 + 35,988 496,795 U.S. government securities Bought outright-system account (3) 455,061 + 2,336 + 27,257 454,446 Held under repurchase agreements 3,674 - 2,607 + 2,935 2,075 Federal agency obligations Bought outright 336 - 1 - 349 336 Held under repurchase agreements 2,290 - 936 + 1,547 590 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 210 + 105 + 119 1,062 Seasonal credit 6 + 1 - 3 8 Extended credit 0 0 0 0 Float 869 - 503 - 80 1,992 Other F.R. assets 36,622 - 282 + 4,562 36,285 Gold stock 11,047 + 1 + 1 11,046 Special drawing rights certificate account 9,200 0 0 9,200 Treasury currency outstanding 26,272 + 14 + 676 26,272 Total factors supplying reserve funds 545,586 - 1,870 + 36,665 543,313 Currency in circulation* 506,304 - 367 + 37,082 508,186 Treasury cash holdings* 98 + 10 - 123 99 Deposits,other than reserve balances,with F.R.Banks Treasury 6,876 - 87 + 1,180 5,395 Foreign 219 + 35 + 19 215 Service-related balances and adjustments (4) 7,830 - 37 + 555 7,830 Other 246 + 9 - 128 275 Other F.R. liabilities and capital 16,275 - 565 + 343 15,850 Total factors, other than reserve balances, absorbing reserve funds 537,848 - 1,002 + 38,928 537,850 Reserve balances with F.R. Banks (5) 7,738 - 868 - 2,263 5,463 On February 3, 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 598,504 million, a change of -$ 1,939 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 18,308 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 17,825 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 19,676 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 16,296 million was with foreign official and international accounts. Includes $ 282 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 $ 79 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,511 million and adjustments of $ 1,319 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 Feb 3, 1999 Jan 27, 1999 Feb 4, 1998 ASSETS Gold certificate account 11,046 0 + 1 Special drawing rights certificate account 9,200 0 0 Coin 459 + 20 - 101 Loans 1,070 + 1,058 + 759 Acceptances 0 0 0 Federal agency obligations Bought outright 336 0 - 349 Held under repurchase agreements (1) 590 - 3,437 + 590 U.S. government securities Bought outright--Bills 196,023 - 1,639 + 1,641 Notes (2) 188,335 + 932 + 14,608 Bonds (3) 70,089 + 615 + 10,682 Total bought outright (4) 454,446 - 92 + 26,930 Held under repurchase agreements (1) 2,075 - 7,816 + 2,075 Total U.S. government securities 456,521 - 7,908 + 29,005 Total loans and securities 458,517 - 10,287 + 30,005 Items in process of collection (601) 10,577 + 3,288 + 2,342 Bank premises 1,300 - 1 + 26 Other assets (5) 34,958 - 1,392 + 4,410 TOTAL ASSETS (601) 526,056 - 8,373 + 36,682 LIABILITIES Federal Reserve notes 482,472 + 1,423 + 36,552 Deposits Depository institutions 13,968 - 8,595 - 1,650 U.S. Treasury--general account 5,395 - 1,643 + 603 Foreign--official accounts 215 + 47 + 51 Other (97) 275 + 58 - 136 Total deposits (97) 19,854 - 10,131 - 1,131 Deferred availability cash items (504) 7,881 + 1,096 + 1,017 Other liabilities and accrued dividends (6) 3,925 - 267 - 551 TOTAL LIABILITIES (601) 514,131 - 7,880 + 35,887 CAPITAL ACCOUNTS Capital paid in 5,938 - 17 + 460 Surplus 5,900 - 52 + 680 Other capital accounts 86 - 425 - 345 *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 $ 68 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 $ 11 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 19,676 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 282 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, February 3, 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 1,063 0 Within 15 days 21,242 - 2,271 590 - 3,437 16 to 90 days 7 0 16 to 90 days 95,728 - 2,204 25 0 Over 90 days 0 0 91 days to 1 year 129,575 - 5,478 81 0 Over 1 to 5 years 108,471 + 1,431 55 0 Over 5 to 10 years 45,222 0 175 0 Over 10 years 56,284 + 615 0 0 Total 1,070 0 Total 456,521 - 7,908 926 - 3,437 1 Includes $ 4,087 million of inflation-indexed securities valued at the original face amount and $ 79 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 February 3, 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 11,046 582 4,206 323 643 807 717 998 358 128 289 530 1,465 Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241 Coin 459 22 17 34 22 69 64 50 22 18 31 49 61 Loans 1,070 711 300 0 0 0 4 50 0 0 5 0 0 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 336 18 124 10 22 26 20 32 12 4 9 15 42 Held under repurchase agreements(1) 590 0 590 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 196,023 10,676 72,654 5,699 12,740 15,442 11,924 18,819 6,889 2,154 5,438 8,913 24,677 Notes (2) 188,335 10,257 69,804 5,476 12,240 14,836 11,457 18,080 6,618 2,069 5,225 8,563 23,709 Bonds (3) 70,089 3,817 25,978 2,038 4,555 5,521 4,264 6,729 2,463 770 1,944 3,187 8,823 Total bought outright(4) 454,446 24,750 168,436 13,212 29,536 35,799 27,644 43,628 15,970 4,993 12,607 20,663 57,209 Held under repurchase agreements(1) 2,075 0 2,075 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 456,521 24,750 170,511 13,212 29,536 35,799 27,644 43,628 15,970 4,993 12,607 20,663 57,209 Total loans and securities 458,517 25,479 171,526 13,222 29,558 35,825 27,669 43,710 15,982 4,996 12,621 20,678 57,251 Items in process of collection 11,178 764 1,244 687 660 768 1,291 989 314 670 698 706 2,386 Bank premises 1,300 94 158 50 158 125 83 106 32 130 53 148 162 Other assets(5) 34,958 1,622 10,641 1,053 2,190 5,205 2,240 3,194 880 841 855 1,373 4,866 Interdistrict settlement account 0 + 181 + 5,810 + 1,569 - 5,260 + 1,837 + 1,569 + 2,576 + 542 + 990 + 829 + 576 -11,219 TOTAL ASSETS 526,657 29,274 196,803 17,220 28,544 45,428 34,235 52,524 18,470 7,896 15,623 24,428 56,213 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 $ 68 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 $ 11 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 19,676 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 282 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 February 3, 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 482,472 27,525 184,731 15,981 25,698 40,036 30,688 48,292 17,265 6,085 14,085 22,404 49,680 Deposits Depository institutions 13,968 600 1,527 432 1,474 1,841 1,352 1,994 416 737 621 956 2,017 U.S. Treasury--general account 5,395 0 5,395 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 215 7 99 4 10 30 10 14 3 5 3 6 24 Other 372 0 245 0 2 100 5 1 4 1 10 1 1 Total deposits 19,951 607 7,267 437 1,486 1,972 1,367 2,009 423 743 635 963 2,042 Deferred credit items 8,385 480 972 301 297 664 1,061 657 380 592 475 414 2,093 Other liabilities and accrued dividends (1) 3,925 129 1,358 146 260 325 278 390 159 78 145 194 462 TOTAL LIABILITIES 514,732 28,742 194,327 16,865 27,740 42,997 33,394 51,348 18,228 7,498 15,340 23,976 54,278 CAPITAL ACCOUNTS Capital paid in 5,938 260 1,215 176 400 1,238 418 585 119 203 142 225 957 Surplus 5,900 267 1,208 177 399 1,193 418 583 121 195 140 227 972 Other capital accounts 86 5 53 2 5 0 4 7 2 0 1 1 6 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 526,657 29,274 196,803 17,220 28,544 45,428 34,235 52,524 18,470 7,896 15,623 24,428 56,213 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 627,561 32,440 240,257 19,171 29,836 51,038 44,740 59,820 20,595 7,872 18,047 33,433 70,311 Less--Held by F.R. Banks 145,090 4,915 55,526 3,190 4,138 11,002 14,051 11,528 3,330 1,787 3,962 11,029 20,631 F.R. notes, net 482,472 27,525 184,731 15,981 25,698 40,036 30,688 48,292 17,265 6,085 14,085 22,404 49,680 Collateral held against F.R. notes Gold certificate account 11,046 Special drawing rights certificate account 9,200 Other eligible assets 4,779 U.S. govt. and agency securities 457,447 Total collateral 482,472 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.