Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page

Release Date: November 4, 1999

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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
                                                                                           November 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      Nov 3, 1999 Oct 27, 1999  Nov 4, 1998  Nov 3, 1999

Reserve Bank Credit                                         550,733    +   7,157    +  56,890      554,924
  U.S. government securities (1)
    Bought outright-system account (2,3)                    490,916    +     205    +  40,788      491,529
    Held under repurchase agreements                              0            0    -   3,333            0
  Federal agency obligations (1)
    Bought outright                                             188    -       6    -     197          188
    Held under repurchase agreements                              0            0    -   3,878            0
  Repurchase agreements -- triparty (4)                      23,800    +   6,739    +  23,800       26,580
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                           104    +      64    +      69          533
    Seasonal credit                                             115    -      76    +      48           81
    Special Liquidity Facility                                   36    +      29    +      36          210
    Extended credit                                               0            0            0            0
   Float                                                        279    -      46    +     397          670
   Other F.R. assets                                         35,296    +     247    -     838       35,133
Gold stock                                                   11,049    -       1    +       8       11,049
Special drawing rights certificate account                    7,200            0    -   2,000        7,200
Treasury currency outstanding                                27,424    +      14    +   1,334       27,424
        Total factors supplying reserve funds               596,406    +   7,170    +  56,232      600,597

Currency in circulation*                                    556,975    +   3,879    +  58,698      560,748
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                          94    +       2    +       7           95
Deposits,other than reserve balances,with F.R.Banks
  Treasury                                                    4,968    -     238    -      62        5,610
  Foreign                                                       177    -       3    +      13          162
  Service-related balances and adjustments (5)                7,276    +     214    +     417        7,276
  Other                                                         230    -      30    -     176          258
Other F.R. liabilities and capital                           18,324    +      82    +     275       18,040
        Total factors, other than reserve balances,
        absorbing reserve funds                             588,043    +   3,905    +  59,170      592,190

Reserve balances with F.R. Banks  (6)                         8,362    +   3,264    -   2,939        8,407

On   November 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    610,057 million, a change of
 +$  1,909 million for the week.  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 $     16,487 million (daily average over statement week) and $     15,876 million (outstanding on
   Wednesday statement date) matched sale-purchase transactions, of which $     16,487 million (daily average)
   and $     15,876 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      1,265 million (daily average) and $      1,274 million
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $      5,476 million of inflation-indexed securities valued at the original face amount and
   $        193 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 $      6,795 million and adjustments of $        481 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.

Note: on   November 3, 1999, option contracts on repurchase agreements were outstanding as follows:
$     43,950 million with exercise dates from December 23, 1999 through December 29, 1999;
$     93,050 million with exercise dates from December 30, 1999 through January 5, 2000; and
$     49,000 million with exercise dates from January 6, 2000 through January 12, 2000.  Further details on these contracts
can be found on the website of the Federal Reserve Bank of New York (http://www.newyorkfed.org/pihome/news/announce).

Worksheet for H.4.1 (a)

CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS
Millions of Dollars
                                                                                    Change Since
                                                  *          Wednesday        Wednesday        Wednesday
                                                            Nov 3, 1999     Oct 27, 1999      Nov 4, 1998
                ASSETS
Gold certificate account                                        11,049        -       1        +       8
Special drawing rights certificate account                       7,200                0        -   2,000
Coin                                                               305        -      12        -     104
Loans                                                              824        +     613        +     764
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           26,580        +   6,515        +  26,580
Federal agency obligations (2)
  Bought outright                                                  188                0        -     185
  Held under repurchase agreements                                   0                0        -   3,234
U.S. government securities (2)
  Bought outright--Bills                                       199,823        -     527        +   2,164
                   Notes (3)                                   211,275        +       3        +  26,241
                   Bonds (4)                                    80,430        +       1        +  12,734
    Total bought outright (5)                                  491,529        -     522        +  41,141
  Held under repurchase agreements (1)                               0                0        -   2,050
     Total U.S. government securities                          491,529        -     522        +  39,091
       Total loans and securities                              519,120        +   6,605        +  63,015

Items in process of collection                      (662)        8,434        +   1,778        +     504
Bank premises                                                    1,346        +       5        +      52
Other assets (6)                                                33,517        -      67        -   1,449
                TOTAL ASSETS                        (662)      580,970        +   8,306        +  60,025

                LIABILITIES
Federal Reserve notes                                          533,724        +   5,275        +  59,294
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits
  Depository institutions                                       15,480        +     705        +   1,160
  U.S. Treasury--general account                                 5,610        +   1,247        -     304
  Foreign--official accounts                                       162        -      10        -      29
    Other                                             (0)          258        +      35        -     180
      Total deposits                                  (0)       21,511        +   1,978        +     648
Deferred availability cash items                    (662)        7,696        +     966        -      95
Other liabilities and accrued dividends (7)                      4,360        -      84        -      33
                TOTAL LIABILITIES                   (662)      567,291        +   8,135        +  59,814

                CAPITAL ACCOUNTS
Capital paid in                                                  6,361        +       7        +     438
Surplus                                                          5,952                0        +     732
Other capital accounts                                           1,366        +     165        -     959

*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 $      3,938 million of inflation-indexed securities valued at the original face amount and
   $        153 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
   $         40 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
5  Net of $     15,876 million matched sale-purchase transactions outstanding at the end of the latest
   statement week.  Includes securities loans of $      1,274 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,   November 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                      Reverse
                     Loans          securities (1,2)        obligations(2)        Repurchase   Repurchase
                                              Weekly                  Weekly      Agreements   Agreements
                                  Holdings    changes      Holdings    changes    Triparty(3)  Triparty(3)
Within 15 days             766       17,543   +   7,166            7           0       10,020           0
16 to 90 days               58       96,798   -   6,374            6           0       16,560           0
91 days to 1 year            0      141,595   -     342           45           0     ------      ------
Over 1 to 5 years                   120,225   -     976           10           0     ------      ------
Over 5 to 10 years                   50,213   +       2          120           0     ------      ------
Over 10 years                        65,154   +       1            0           0     ------      ------
                   		 	
Total                      824      491,529   -     522          188           0       26,580           0

1  Includes $      5,476 million of inflation-indexed securities valued at the original face amount and
   $        193 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   November 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                      11,049        533      4,436        319        566        834        724        993        337        140        313        575      1,279
Special drawing rights certif. acct.           7,200        357      2,823        217        348        599        523        637        204         90        203        396        803
Coin                                             305          7         14         15         27         42         44         30         17         12         20         33         42

Loans                                            824        460          0          5          0        128         33         18         35          9        120          0         17
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          26,580          0     26,580          0          0          0          0          0          0          0          0          0          0
Federal agency obligations(2)
  Bought outright                                188         10         75          6         11         14         11         18          6          2          6          9         20
  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                     199,823     10,333     79,579      5,985     11,567     15,033     12,163     18,767      6,573      2,390      5,992      9,957     21,484
                   Notes (3)                 211,275     10,926     84,139      6,328     12,230     15,894     12,860     19,843      6,950      2,527      6,336     10,527     22,716
                   Bonds (4)                  80,430      4,159     32,031      2,409      4,656      6,051      4,896      7,554      2,646        962      2,412      4,008      8,648
     Total bought outright(5)                491,529     25,418    195,749     14,722     28,452     36,978     29,919     46,165     16,168      5,879     14,740     24,492     52,848
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             491,529     25,418    195,749     14,722     28,452     36,978     29,919     46,165     16,168      5,879     14,740     24,492     52,848
       Total loans and securities            519,120     25,888    222,404     14,732     28,463     37,119     29,963     46,200     16,209      5,890     14,866     24,501     52,885

Items in process of collection                 9,096        443      1,104        487        381        426        922        779        367        733        581        693      2,180
Bank premises                                  1,346         93        163         50        156        124        131        108         32        128         51        146        165
Other assets(5)                               33,517      1,526     11,048        959      1,995      4,648      2,129      3,027        847        772        861      1,396      4,310
Interdistrict settlement account                   0    + 4,165    - 7,272    + 5,270    +   669    - 6,342    + 6,573    +16,277    + 3,296    - 5,449    + 1,463    -21,811    + 3,160
          TOTAL ASSETS                       581,633     33,012    234,720     22,049     32,605     37,450     41,009     68,051     21,309      2,318     18,358      5,929     64,823

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 $      3,938 million of inflation-indexed securities valued at the original face amount and  $        153 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  $         40 million
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     15,876 million matched sale-purchase transactions outstanding at the end of the latest statement week.
   Includes securities loans of $      1,274 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   November 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                         533,724     30,682    221,638     20,650     29,228     30,727     37,598     63,483     19,747        635     16,842      4,028     58,466
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits
  Depository institutions                      15,480      1,065      1,841        398      1,837      2,317      1,224      2,238        763        443        551        807      1,997
  U.S. Treasury--general account                5,610          0      5,610          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                      162          7         46          4         10         30         10         14          3          5          3          6         24
  Other                                           258          0        141          0         12         89          3          3          0          3          2          2          2
    Total deposits                             21,511      1,072      7,638        403      1,859      2,436      1,237      2,255        766        450        556        815      2,023
Deferred credit items                           8,358        411      1,031        418        337        586        925        640        296        713        434        392      2,174
Other liabilities and accrued
  dividends (2)                                 4,360        235      1,522        160        263        369        304        418        166         90        160        225        448
    TOTAL LIABILITIES                         567,953     32,400    231,830     21,631     31,687     34,119     40,064     66,795     20,976      1,888     17,993      5,460     63,111

       CAPITAL ACCOUNTS
Capital paid in                                 6,361        289      1,319        201        441      1,632        456        599        157        210        174        213        671
Surplus                                         5,952        267      1,208        177        399      1,238        418        583        121        202        140        227        972
Other capital accounts                          1,366         55        363         41         79        462         70         73         56         18         51         29         70
     TOTAL LIABILITIES AND CAPITAL
        ACCOUNTS                              581,633     33,012    234,720     22,049     32,605     37,450     41,009     68,051     21,309      2,318     18,358      5,929     64,823

FEDERAL RESERVE AGENTS' ACCOUNTS

F.R. notes outstanding                        826,931     41,801    329,464     31,258     39,234     55,374     61,962     80,410     26,678     11,532     24,961     37,194     87,061
  Less--Held by F.R. Banks                    293,208     11,119    107,826     10,608     10,007     24,647     24,364     16,928      6,931     10,898      8,119     33,166     28,595
  F.R. notes, net                             533,724     30,682    221,638     20,650     29,228     30,727     37,598     63,483     19,747        635     16,842      4,028     58,466
Collateral held against F.R. notes
   Gold certificate account                    11,049
   Special drawing rights
     certificate account                        7,200
   Other eligible assets                            0
   U.S. govt. and agency securities(3)        515,475
     Total collateral                         533,724

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.

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Last update: November 4, 1999