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

Release Date: January 13, 2000

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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
                                                                                           January 13, 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     Jan 12, 2000  Jan 5, 2000 Jan 13, 1999 Jan 12, 2000

Reserve Bank Credit                                         589,585    -  47,320    +  89,175      585,637
  U.S. government securities (1)
    Bought outright-system account (2,3)                    484,695    +   3,833    +  30,005      485,719
    Held under repurchase agreements                              0            0    -   3,820            0
  Federal agency obligations (1)
    Bought outright                                             181            0    -     157          181
    Held under repurchase agreements                              0            0    -   3,256            0
  Repurchase agreements -- triparty (4)                      67,421    -  52,715    +  67,421       62,895
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                           856    +     651    +     159          946
    Seasonal credit                                              31    -      13    +      25           32
    Special Liquidity Facility                                  127    +      75    +     127           22
    Extended credit                                               0            0            0            0
   Float                                                      1,035    +     580    -     589          367
   Other F.R. assets                                         35,241    +     271    -     738       35,474
Gold stock                                                   11,048            0    +       2       11,048
Special drawing rights certificate account                    6,200            0    -   3,000        6,200
Treasury currency outstanding                                27,776    +      14    +   1,475       27,776
        Total factors supplying reserve funds               634,609    -  47,307    +  87,652      630,661

Currency in circulation*                                    598,902    -  26,744    +  87,419      589,557
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         121    +      10    +      36          121
Deposits,other than reserve balances,with F.R.Banks
  Treasury                                                    5,326    -  15,617    -      97        5,454
  Foreign                                                        74    -       2    -     115          110
  Service-related balances and adjustments (5)                7,965    +      99    +      73        7,966
  Other                                                         191    -     765    -      16          229
Other F.R. liabilities and capital                           18,188    +     645    +   1,314       18,019
        Total factors, other than reserve balances,
        absorbing reserve funds                             630,768    -  42,373    +  88,615      621,455

Reserve balances with F.R. Banks  (6)                         3,841    -   4,934    -     962        9,205

On   January 12, 2000, the face amount of marketable U.S. government securities held in custody by the
Federal Reserve Banks for foreign official and international accounts was    627,852 million, a change of
 -$  5,650 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 $     32,451 million (daily average over statement week) and $     31,427 million (outstanding on
   Wednesday statement date) matched sale-purchase transactions, of which $     24,194 million (daily average)
   and $     21,127 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $        488 million (daily average) and $        289 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
   $        230 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 $      7,483 million and adjustments of $        483 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: Of the $    144,000 million of options contracts on repurchase agreements written with exercise dates from January 6, 2000 through
January 12, 2000, $          0 million (daily average) and $          0 million (on January 12) were exercised and are reflected in the
repurchase agreement data shown on this release.  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
                                                           Jan 12, 2000      Jan 5, 2000     Jan 13, 1999
                ASSETS
Gold certificate account                                        11,048                0        +       2
Special drawing rights certificate account                       6,200                0        -   3,000
Coin                                                               238        +      38        -     148
Loans                                                            1,001        +     821        +     849
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           62,895        -  28,750        +  62,895
Federal agency obligations (2)
  Bought outright                                                  181                0        -     157
  Held under repurchase agreements                                   0                0        -   4,472
U.S. government securities (2)
  Bought outright--Bills                                       184,272        -   1,230        -  14,770
                   Notes (3)                                   218,468                0        +  30,573
                   Bonds (4)                                    82,979        +       1        +  13,505
    Total bought outright (5)                                  485,719        -   1,229        +  29,308
  Held under repurchase agreements (1)                               0                0        -   3,700
     Total U.S. government securities                          485,719        -   1,229        +  25,608
       Total loans and securities                              549,795        -  29,160        +  84,722

Items in process of collection                      (720)        7,927        -     432        -   2,187
Bank premises                                                    1,366                0        +      66
Other assets (6)                                                34,096        +     368        -     684
                TOTAL ASSETS                        (720)      610,672        -  29,185        +  78,775

                LIABILITIES
Federal Reserve notes                                          562,141        -  26,798        +  77,685
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits
  Depository institutions                                       17,259        +   7,120        -     471
  U.S. Treasury--general account                                 5,454        -   9,680        +     448
  Foreign--official accounts                                       110        +      28        -     104
    Other                                             (0)          229        +      26        +      29
      Total deposits                                  (0)       23,050        -   2,508        -     100
Deferred availability cash items                    (720)        7,461        -     311        -     217
Other liabilities and accrued dividends (7)                      4,515        +     254        +     321
                TOTAL LIABILITIES                   (720)      597,168        -  29,362        +  77,690

                CAPITAL ACCOUNTS
Capital paid in                                                  6,442                0        +     482
Surplus                                                          6,432                0        +     480
Other capital accounts                                             630        +     177        +     123

*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
   $        180 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
   $         50 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
5  Net of $     31,427 million matched sale-purchase transactions outstanding at the end of the latest
   statement week.  Includes securities loans of $        289 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,   January 12, 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             960       14,511   -   5,176            6   +       6       51,795           0
16 to 90 days               41       88,470   -     893           35   +       4       11,100           0
91 days to 1 year            0      141,191   +   4,840           10   -      10     ------      ------
Over 1 to 5 years                   124,169           0           10           0     ------      ------
Over 5 to 10 years                   51,108   +       1          120           0     ------      ------
Over 10 years                        66,271   +       1            0           0     ------      ------
                   		 	
Total                    1,001      485,719   -   1,229          181           0       62,895           0

1  Includes $      5,476 million of inflation-indexed securities valued at the original face amount and
   $        230 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   January 12, 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                                             238          7          8         10         14         45         23         32         13         13         18         20         36

Loans                                          1,001         37        850          1          0         11          7         12         16          6         23          0         37
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          62,895          0     62,895          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                     184,272      9,529     73,385      5,519     10,667     13,863     11,216     17,307      6,061      2,204      5,526      9,182     19,812
                   Notes (3)                 218,468     11,298     87,004      6,544     12,646     16,435     13,298     20,519      7,186      2,613      6,551     10,886     23,489
                   Bonds (4)                  82,979      4,291     33,046      2,485      4,803      6,242      5,051      7,793      2,730        992      2,488      4,135      8,922
     Total bought outright(5)                485,719     25,118    193,435     14,548     28,116     36,541     29,565     45,619     15,977      5,809     14,566     24,202     52,223
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             485,719     25,118    193,435     14,548     28,116     36,541     29,565     45,619     15,977      5,809     14,566     24,202     52,223
       Total loans and securities            549,795     25,165    257,252     14,554     28,126     36,566     29,583     45,648     16,000      5,817     14,594     24,211     52,279

Items in process of collection                 8,647        436      1,017        339        240        690      1,064        869        283        484        512        274      2,438
Bank premises                                  1,366         93        165         50        158        125        147        107         32        128         51        146        165
Other assets(5)                               34,096      1,534     11,537      1,023      2,024      4,654      2,128      3,024        849        769        858      1,394      4,302
Interdistrict settlement account                   0    + 7,402    -30,224    + 6,599    +   892    - 2,916    + 7,674    +17,125    + 3,906    - 3,808    + 1,817    -13,314    + 4,846
          TOTAL ASSETS                       611,391     35,476    246,622     23,081     32,319     40,513     41,794     68,349     21,595      3,622     18,338     13,647     66,036

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  $        180 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  $         50 million
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     31,427 million matched sale-purchase transactions outstanding at the end of the latest statement week.
   Includes securities loans of $        289 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   January 12, 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                         562,141     32,449    232,144     21,462     29,479     33,614     38,638     63,833     19,936      2,040     16,837     11,980     59,728
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits
  Depository institutions                      17,259      1,721      3,202        700      1,331      2,305        904      2,310        873        550        526        676      2,161
  U.S. Treasury--general account                5,454          0      5,454          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                      110          1         86          1          2          6          2          3          1          1          1          1          5
  Other                                           229          0        136          0          4         80          1          1          0          0          2          3          2
    Total deposits                             23,050      1,723      8,877        701      1,337      2,392        907      2,314        874        551        529        679      2,167
Deferred credit items                           8,181        454      1,055        341        315        724        940        565        274        463        436        307      2,306
Other liabilities and accrued
  dividends (2)                                 4,515        244      1,598        164        267        377        315        431        173         91        165        232        459
    TOTAL LIABILITIES                         597,888     34,870    243,674     22,668     31,398     37,106     40,800     67,143     21,257      3,145     17,967     13,199     64,660

       CAPITAL ACCOUNTS
Capital paid in                                 6,442        290      1,325        199        445      1,676        482        578        160        236        179        211        660
Surplus                                         6,432        290      1,325        199        444      1,691        460        578        158        235        179        211        660
Other capital accounts                            630         27        297         15         32         39         51         49         19          6         13         26         55
     TOTAL LIABILITIES AND CAPITAL
        ACCOUNTS                              611,391     35,476    246,622     23,081     32,319     40,513     41,794     68,349     21,595      3,622     18,338     13,647     66,036

FEDERAL RESERVE AGENTS' ACCOUNTS

F.R. notes outstanding                        818,717     42,645    325,976     30,781     38,750     54,524     61,621     78,981     26,306     11,304     24,431     36,356     87,043
  Less--Held by F.R. Banks                    256,576     10,195     93,832      9,319      9,272     20,910     22,982     15,148      6,370      9,264      7,593     24,376     27,315
  F.R. notes, net                             562,141     32,449    232,144     21,462     29,479     33,614     38,638     63,833     19,936      2,040     16,837     11,980     59,728
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)        544,893
     Total collateral                         562,141

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: January 13, 2000