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 23, 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 22, 2000 Mar 15, 2000 Mar 24, 1999 Mar 22, 2000 Reserve Bank Credit 556,444 + 1,326 + 48,075 559,322 U.S. government securities (1) Bought outright-system account (2,3) 500,433 - 1,494 + 35,624 500,492 Held under repurchase agreements 0 0 - 8,006 0 Federal agency obligations (1) Bought outright 150 0 - 161 150 Held under repurchase agreements 0 0 - 3,944 0 Repurchase agreements -- triparty (4) 21,833 + 1,729 + 21,833 22,855 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 236 + 206 + 149 1,551 Seasonal credit 71 + 8 + 51 78 Special Liquidity Facility 0 - 14 0 0 Extended credit 0 0 0 0 Float 329 + 525 + 782 603 Other F.R. assets 33,391 + 365 + 1,745 33,593 Gold stock 11,048 0 0 11,048 Special drawing rights certificate account 6,200 0 - 2,000 6,200 Treasury currency outstanding 28,380 + 14 + 1,775 28,380 Total factors supplying reserve funds 602,072 + 1,340 + 47,849 604,951 Currency in circulation* 562,917 - 458 + 47,805 563,711 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 168 + 4 + 34 169 Deposits,other than reserve balances,with F.R.Banks Treasury 5,675 + 218 + 366 4,864 Foreign 102 + 17 - 64 84 Service-related balances and adjustments (5) 6,721 - 256 - 506 6,721 Other 190 - 6 - 46 184 Other F.R. liabilities and capital 19,106 - 46 + 1,922 18,817 Total factors, other than reserve balances, absorbing reserve funds 594,879 - 526 + 49,512 594,549 Reserve balances with F.R. Banks (6) 7,194 + 1,867 - 1,662 10,402 On March 22, 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 $ 717,133 million, a change of $ + 6,000 million for the week. The total includes $ 630,751 million of U.S. government securities and $ 86,382 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 $ 18,372 million (daily average over statement week) and $ 18,314 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 18,372 million (daily average) and $ 18,314 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 536 million (daily average) and $ 774 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 $ 242 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 $ 6,495 million and adjustments of $ 226 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 22, 2000 Mar 15, 2000 Mar 24, 1999 ASSETS Gold certificate account 11,048 0 + 1 Special drawing rights certificate account 6,200 0 - 2,000 Coin 438 + 6 - 8 Loans 1,629 + 1,531 + 1,611 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 22,855 - 2,190 + 22,855 Federal agency obligations (2) Bought outright 150 0 - 161 Held under repurchase agreements 0 0 - 4,533 U.S. government securities (2) Bought outright--Bills 197,386 - 1,725 - 347 Notes (3) 217,850 + 2 + 24,296 Bonds (4) 85,257 + 1 + 11,800 Total bought outright (5) 500,492 - 1,723 + 35,748 Held under repurchase agreements (1) 0 0 - 17,013 Total U.S. government securities 500,492 - 1,723 + 18,735 Total loans and securities 525,126 - 2,382 + 38,507 Items in process of collection (895) 7,724 + 66 + 1,169 Bank premises 1,384 - 1 + 80 Other assets (6) 32,110 + 433 + 357 TOTAL ASSETS (895) 584,031 - 1,877 + 38,108 LIABILITIES Federal Reserve notes 535,938 - 542 + 45,786 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 17,256 + 1,940 - 9,110 U.S. Treasury--general account 4,864 - 2,747 - 335 Foreign--official accounts 84 + 13 - 85 Other (0) 184 - 12 - 36 Total deposits (0) 22,388 - 806 - 9,567 Deferred availability cash items (895) 6,888 - 511 + 161 Other liabilities and accrued dividends (7) 4,811 - 41 + 362 TOTAL LIABILITIES (895) 570,024 - 1,901 + 36,740 CAPITAL ACCOUNTS Capital paid in 6,699 - 9 + 609 Surplus 6,431 0 + 479 Other capital accounts 876 + 31 + 278 *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 $ 189 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 $ 53 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,314 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 774 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 22, 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 1,627 14,276 + 3,227 0 0 7,850 0 16 to 90 days 2 104,196 - 4,653 10 0 15,005 0 91 days to 1 year 0 139,331 - 300 10 0 ------ ------ Over 1 to 5 years 123,948 0 10 0 ------ ------ Over 5 to 10 years 50,946 + 2 120 0 ------ ------ Over 10 years 67,795 0 0 0 ------ ------ Total 1,629 500,492 - 1,723 150 0 22,855 0 1 Includes $ 5,792 million of inflation-indexed securities valued at the original face amount and $ 242 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 22, 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 438 12 22 16 19 57 47 59 23 29 35 47 71 Loans 1,629 414 810 1 225 2 1 127 9 17 9 0 13 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 22,855 0 22,855 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 197,386 10,207 78,608 5,912 11,426 14,849 12,015 18,539 6,493 2,361 5,919 9,835 21,222 Notes (3) 217,850 11,266 86,758 6,525 12,610 16,389 13,260 20,461 7,166 2,605 6,533 10,855 23,423 Bonds (4) 85,257 4,409 33,953 2,554 4,935 6,414 5,190 8,007 2,804 1,020 2,557 4,248 9,167 Total bought outright(5) 500,492 25,882 199,319 14,991 28,971 37,652 30,465 47,006 16,463 5,986 15,009 24,938 53,811 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 500,492 25,882 199,319 14,991 28,971 37,652 30,465 47,006 16,463 5,986 15,009 24,938 53,811 Total loans and securities 525,126 26,304 223,043 14,996 29,205 37,666 30,475 47,147 16,477 6,004 15,023 24,946 53,841 Items in process of collection 8,619 538 1,265 387 416 560 869 549 257 571 486 346 2,373 Bank premises 1,384 94 164 50 157 124 167 106 33 128 50 145 165 Other assets(5) 32,110 1,441 10,851 1,000 1,941 5,216 2,023 2,728 866 763 877 1,261 3,144 Interdistrict settlement account 0 + 5,248 - 2,845 + 4,754 + 224 - 9,964 + 5,259 +12,828 + 2,666 - 4,250 + 902 -14,289 - 533 TOTAL ASSETS 584,926 34,477 239,368 21,708 32,827 35,009 40,012 64,959 20,836 3,464 17,861 13,372 61,032 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 $ 189 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 $ 53 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,314 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 774 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 22, 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 535,938 31,266 224,554 20,343 29,707 29,806 36,762 60,295 19,275 1,693 16,207 10,960 55,070 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 17,256 1,875 3,829 430 1,534 798 1,053 2,413 805 686 726 1,328 1,779 U.S. Treasury--general account 4,864 0 4,864 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 84 1 60 1 2 8 2 3 1 1 1 1 3 Other 184 0 136 -8 12 38 0 1 0 0 2 1 1 Total deposits 22,388 1,876 8,889 423 1,549 844 1,055 2,416 805 687 729 1,330 1,783 Deferred credit items 7,783 462 975 351 369 545 867 556 237 479 376 381 2,186 Other liabilities and accrued dividends (2) 4,811 262 1,707 170 282 404 333 455 181 98 174 247 497 TOTAL LIABILITIES 570,920 33,867 236,126 21,288 31,906 31,598 39,018 63,722 20,498 2,957 17,486 12,918 59,536 CAPITAL ACCOUNTS Capital paid in 6,699 292 1,492 201 438 1,677 481 592 160 254 180 213 719 Surplus 6,431 289 1,325 199 444 1,691 460 578 158 235 179 211 660 Other capital accounts 876 30 426 20 39 42 53 66 19 17 16 31 116 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 584,926 34,477 239,368 21,708 32,827 35,009 40,012 64,959 20,836 3,464 17,861 13,372 61,032 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 791,774 40,944 316,256 30,159 38,621 51,892 60,803 75,427 25,343 10,746 23,463 35,078 83,044 Less--Held by F.R. Banks 255,836 9,678 91,701 9,816 8,915 22,086 24,040 15,132 6,068 9,052 7,256 24,118 27,973 F.R. notes, net 535,938 31,266 224,554 20,343 29,707 29,806 36,762 60,295 19,275 1,693 16,207 10,960 55,070 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) 518,689 Total collateral 535,938 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.