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

Release Date: December 2, 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
                                                                                           December 2, 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      Dec 1, 1999 Nov 24, 1999  Dec 2, 1998  Dec 1, 1999

Reserve Bank Credit                                         573,579    +  10,646    +  72,141      576,290
  U.S. government securities (1)
    Bought outright-system account (2,3)                    493,577    -     424    +  39,179      493,474
    Held under repurchase agreements                              0            0    -   5,714            0
  Federal agency obligations (1)
    Bought outright                                             181            0    -     187          181
    Held under repurchase agreements                              0            0    -   5,291            0
  Repurchase agreements -- triparty (4)                      46,103    +  11,008    +  46,103       49,505
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                            59    -      10    +      25            8
    Seasonal credit                                              65    +       6    +      49           70
    Special Liquidity Facility                                    8    +       2    +       8            7
    Extended credit                                               0            0            0            0
   Float                                                        234    -     198    -     472           47
   Other F.R. assets                                         33,353    +     262    -   1,558       32,998
Gold stock                                                   11,049            0    +       9       11,048
Special drawing rights certificate account                    7,200            0    -   2,000        7,200
Treasury currency outstanding                                27,557    +       2    +   1,375       27,555
        Total factors supplying reserve funds               619,385    +  10,648    +  71,524      622,094

Currency in circulation*                                    580,390    +   7,346    +  73,415      583,745
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                          89    -       6    -      11          113
Deposits,other than reserve balances,with F.R.Banks
  Treasury                                                    5,107    -     233    -     197        5,082
  Foreign                                                       211    +       8    +       4          162
  Service-related balances and adjustments (5)                7,294    +     132    +      83        7,294
  Other                                                         245    -      10    -     118          236
Other F.R. liabilities and capital                           18,393    -      44    +   1,589       17,992
        Total factors, other than reserve balances,
        absorbing reserve funds                             611,729    +   7,193    +  74,765      614,624

Reserve balances with F.R. Banks  (6)                         7,656    +   3,455    -   3,241        7,470

On   December 1, 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    625,688 million, a change of
 +$ 13,431 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 $     16,752 million (daily average over statement week) and $     16,858 million (outstanding on
   Wednesday statement date) matched sale-purchase transactions, of which $     16,752 million (daily average)
   and $     16,858 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $        776 million (daily average) and $        690 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
   $        218 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 $      6,924 million and adjustments of $        370 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   December 1, 1999, option contracts on repurchase agreements were outstanding as follows:
$    113,850 million with exercise dates from December 23, 1999 through December 29, 1999;
$    222,950 million with exercise dates from December 30, 1999 through January 5, 2000; and
$    144,000 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
                                                            Dec 1, 1999     Nov 24, 1999      Dec 2, 1998
                ASSETS
Gold certificate account                                        11,048        -       1        +       7
Special drawing rights certificate account                       7,200                0        -   2,000
Coin                                                               230        -      31        -     147
Loans                                                               85        -     287        -      39
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           49,505        +   8,050        +  49,505
Federal agency obligations (2)
  Bought outright                                                  181                0        -     187
  Held under repurchase agreements                                   0                0        -   2,967
U.S. government securities (2)
  Bought outright--Bills                                       198,841        -   1,061        +   1,988
                   Notes (3)                                   213,271        +       5        +  25,383
                   Bonds (4)                                    81,362        +       1        +  11,890
    Total bought outright (5)                                  493,474        -   1,055        +  39,261
  Held under repurchase agreements (1)                               0                0        -   5,020
     Total U.S. government securities                          493,474        -   1,055        +  34,241
       Total loans and securities                              543,245        +   6,707        +  80,554

Items in process of collection                      (652)        8,038        -     166        -   1,219
Bank premises                                                    1,353        +       5        +      59
Other assets (6)                                                31,552        -     232        -   1,778
                TOTAL ASSETS                        (652)      602,666        +   6,282        +  75,476

                LIABILITIES
Federal Reserve notes                                          556,532        +   5,194        +  74,507
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits
  Depository institutions                                       14,939        +     216        -   1,191
  U.S. Treasury--general account                                 5,082        +     557        +     700
  Foreign--official accounts                                       162        -       9        -       9
    Other                                             (0)          236        -      17        -     124
      Total deposits                                  (0)       20,420        +     747        -     623
Deferred availability cash items                    (652)        7,722        +     544        -     147
Other liabilities and accrued dividends (7)                      4,457        -     126        +      81
                TOTAL LIABILITIES                   (652)      589,131        +   6,360        +  73,817

                CAPITAL ACCOUNTS
Capital paid in                                                  6,374                0        +     438
Surplus                                                          5,952                0        +     743
Other capital accounts                                           1,209        -      78        +     477

*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
   $        172 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
   $         47 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
5  Net of $     16,858 million matched sale-purchase transactions outstanding at the end of the latest
   statement week.  Includes securities loans of $        690 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,   December 1, 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              27       11,438   -   4,573            0           0       13,345           0
16 to 90 days               56      103,422   +   3,797           31           0       36,160           0
91 days to 1 year            2      140,670   +     437           20           0     ------      ------
Over 1 to 5 years                   122,414   -     721           10           0     ------      ------
Over 5 to 10 years                   50,520   +       3          120           0     ------      ------
Over 10 years                        65,011   +       2            0           0     ------      ------
                   		 	
Total                       85      493,474   -   1,055          181           0       49,505           0

1  Includes $      5,476 million of inflation-indexed securities valued at the original face amount and
   $        218 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   December 1, 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                      11,048        533      4,435        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                                             230          6         12         14         14         35         33         27          8         11         17         18         36

Loans                                             85          4          3          0          0          5          4         11         22         10         23          0          3
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          49,505          0     49,505          0          0          0          0          0          0          0          0          0          0
Federal agency obligations(2)
  Bought outright                                181          9         72          5         10         14         11         17          6          2          5          9         19
  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                     198,841     10,283     79,187      5,956     11,510     14,959     12,103     18,675      6,541      2,378      5,963      9,908     21,379
                   Notes (3)                 213,271     11,029     84,934      6,388     12,345     16,044     12,982     20,030      7,015      2,551      6,396     10,627     22,930
                   Bonds (4)                  81,362      4,207     32,402      2,437      4,710      6,121      4,952      7,642      2,676        973      2,440      4,054      8,748
     Total bought outright(5)                493,474     25,519    196,524     14,780     28,565     37,124     30,037     46,347     16,232      5,902     14,798     24,589     53,057
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             493,474     25,519    196,524     14,780     28,565     37,124     30,037     46,347     16,232      5,902     14,798     24,589     53,057
       Total loans and securities            543,245     25,532    246,104     14,786     28,575     37,143     30,052     46,375     16,260      5,914     14,827     24,598     53,080

Items in process of collection                 8,690        355      1,043        431        374        550        890        746        409        547        514        337      2,496
Bank premises                                  1,353         93        163         50        156        124        138        107         32        128         51        146        165
Other assets(5)                               31,552      1,415     10,384        895      1,871      4,481      1,992      2,825        778        745        797      1,295      4,074
Interdistrict settlement account                   0    + 7,013    -26,629    + 6,224    + 1,252    - 4,324    + 8,883    +17,785    + 4,154    - 4,741    + 2,593    -17,768    + 5,557
          TOTAL ASSETS                       603,318     35,303    238,336     22,936     33,156     39,442     43,235     69,494     22,182      2,834     19,315      9,596     67,489

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  $        172 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  $         47 million
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     16,858 million matched sale-purchase transactions outstanding at the end of the latest statement week.
   Includes securities loans of $        690 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   December 1, 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                         556,532     32,715    225,119     21,617     30,078     33,764     39,937     64,992     20,544      1,206     17,690      7,782     61,089
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits
  Depository institutions                      14,939      1,341      2,498        420      1,565      1,275      1,079      2,160        849        540        693        748      1,773
  U.S. Treasury--general account                5,082          0      5,082          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                                           236          0        147          0          3         73          1          1          1          2          3          2          2
    Total deposits                             20,420      1,348      7,773        424      1,578      1,378      1,090      2,175        852        548        699        755      1,799
Deferred credit items                           8,374        399        992        325        350        618        961        667        287        530        403        370      2,472
Other liabilities and accrued
  dividends (2)                                 4,457        243      1,563        161        266        378        308        426        168         93        164        228        458
    TOTAL LIABILITIES                         589,783     34,705    235,448     22,527     32,272     36,138     42,296     68,260     21,851      2,377     18,955      9,136     65,818

       CAPITAL ACCOUNTS
Capital paid in                                 6,374        289      1,320        199        430      1,642        458        599        158        230        174        213        661
Surplus                                         5,952        267      1,208        177        399      1,238        418        583        121        202        140        227        972
Other capital accounts                          1,209         42        359         33         55        424         63         53         52         25         45         21         38
     TOTAL LIABILITIES AND CAPITAL
        ACCOUNTS                              603,318     35,303    238,336     22,936     33,156     39,442     43,235     69,494     22,182      2,834     19,315      9,596     67,489

FEDERAL RESERVE AGENTS' ACCOUNTS

F.R. notes outstanding                        825,329     42,715    327,689     31,122     39,102     55,220     62,322     79,831     26,620     11,446     24,780     36,920     87,562
  Less--Held by F.R. Banks                    268,797      9,999    102,570      9,506      9,024     21,457     22,385     14,839      6,076     10,240      7,089     29,138     26,473
  F.R. notes, net                             556,532     32,715    225,119     21,617     30,078     33,764     39,937     64,992     20,544      1,206     17,690      7,782     61,089
Collateral held against F.R. notes
   Gold certificate account                    11,048
   Special drawing rights
     certificate account                        7,200
   Other eligible assets                            0
   U.S. govt. and agency securities(3)        538,284
     Total collateral                         556,532

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: December 2, 1999