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 September 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 Sep 1, 1999 Aug 25, 1999 Sep 2, 1998 Sep 1, 1999 Reserve Bank Credit (1,2) 530,337 + 2,896 + 46,511 535,733 U.S. government securities Bought outright-system account (3) 490,139 + 672 + 47,817 490,257 Held under repurchase agreements 917 + 275 - 4,133 3,825 Federal agency obligations Bought outright 238 - 9 - 213 238 Held under repurchase agreements 5,358 + 831 + 1,933 8,528 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 56 + 20 + 44 53 Seasonal credit 291 + 12 + 57 284 Extended credit 0 0 0 0 Float 884 + 694 + 280 -204 Other F.R. assets 32,455 + 403 + 726 32,752 Gold stock 11,046 - 1 0 11,045 Special drawing rights certificate account 8,200 0 - 1,000 8,200 Treasury currency outstanding 27,130 + 14 + 1,211 27,130 Total factors supplying reserve funds 576,713 + 2,910 + 46,722 582,109 Currency in circulation* 536,765 + 709 + 48,047 539,544 Treasury cash holdings* 84 + 1 - 10 87 Deposits,other than reserve balances,with F.R.Banks Treasury 5,403 + 552 + 3 6,481 Foreign 212 + 32 + 46 175 Service-related balances and adjustments (4) 6,921 - 112 + 50 6,921 Other 256 - 26 - 109 264 Other F.R. liabilities and capital 18,178 + 134 + 1,043 18,362 Total factors, other than reserve balances, absorbing reserve funds 567,818 + 1,289 + 49,070 571,835 Reserve balances with F.R. Banks (5) 8,895 + 1,620 - 2,348 10,273 On September 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 614,946 million, a change of +$ 7,040 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 16,439 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 16,439 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 16,321 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 16,321 million was with foreign official and international accounts. Includes $ 577 million securities loaned--fully secured U.S. government securities. 3 Includes $ 5,108 million of inflation-indexed securities valued at the original face amount and $ 156 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,726 million and adjustments of $ 195 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 Sep 1, 1999 Aug 25, 1999 Sep 2, 1998 ASSETS Gold certificate account 11,045 - 1 - 1 Special drawing rights certificate account 8,200 0 - 1,000 Coin 288 - 14 - 122 Loans 337 + 16 + 116 Acceptances 0 0 0 Federal agency obligations Bought outright 238 0 - 213 Held under repurchase agreements (1) 8,528 + 278 + 5,452 U.S. government securities Bought outright--Bills 199,379 + 161 + 2,205 Notes (2) 210,829 0 + 32,002 Bonds (3) 80,049 0 + 14,074 Total bought outright (4) 490,257 + 161 + 48,281 Held under repurchase agreements (1) 3,825 + 2,630 - 1,285 Total U.S. government securities 494,082 + 2,791 + 46,996 Total loans and securities 503,185 + 3,084 + 52,352 Items in process of collection (764) 7,731 + 601 - 580 Bank premises 1,332 + 2 + 39 Other assets (5) 31,502 + 448 + 1,011 TOTAL ASSETS (764) 563,283 + 4,120 + 51,698 LIABILITIES Federal Reserve notes 512,790 + 2,360 + 47,196 Deposits Depository institutions 17,577 - 798 + 2,204 U.S. Treasury--general account 6,481 + 1,080 + 1,109 Foreign--official accounts 175 + 11 - 16 Other (0) 264 - 2 - 98 Total deposits (0) 24,498 + 292 + 3,200 Deferred availability cash items (764) 7,633 + 1,040 - 69 Other liabilities and accrued dividends (6) 4,648 + 90 - 50 TOTAL LIABILITIES (764) 549,569 + 3,781 + 50,277 CAPITAL ACCOUNTS Capital paid in 6,308 + 6 + 443 Surplus 5,952 0 + 732 Other capital accounts 1,454 + 333 + 247 *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 $ 3,938 million of inflation-indexed securities valued at the original face amount and $ 130 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Includes $ 1,170 million of inflation-indexed securities valued at the original face amount and $ 26 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,321 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 577 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, September 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 Loans Acceptances securities (1) obligations Weekly Weekly Holdings changes Holdings changes Within 15 days 105 0 Within 15 days 15,830 + 1,984 4,263 - 3,987 16 to 90 days 232 0 16 to 90 days 99,856 + 708 4,292 + 4,265 Over 90 days 0 0 91 days to 1 year 141,081 + 862 41 0 Over 1 to 5 years 122,346 - 764 20 0 Over 5 to 10 years 50,195 0 150 0 Over 10 years 64,773 0 0 0 Total 337 0 Total 494,082 + 2,791 8,766 + 278 1 Includes $ 5,108 million of inflation-indexed securities valued at the original face amount and $ 156 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 September 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 11,045 533 4,432 319 566 834 724 993 337 140 313 575 1,279 Special drawing rights certif. acct. 8,200 406 3,215 247 396 683 596 725 232 103 231 451 915 Coin 288 5 10 15 21 36 39 27 19 14 24 42 36 Loans 337 0 0 3 0 0 10 104 66 71 49 2 32 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 238 12 95 7 14 18 14 22 8 3 7 12 26 Held under repurchase agreements(1) 8,528 0 8,528 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 199,379 10,310 79,402 5,972 11,541 14,999 12,136 18,726 6,558 2,385 5,979 9,934 21,437 Notes (2) 210,829 10,903 83,962 6,315 12,204 15,861 12,833 19,801 6,935 2,521 6,322 10,505 22,668 Bonds (3) 80,049 4,140 31,879 2,398 4,634 6,022 4,873 7,518 2,633 957 2,401 3,989 8,607 Total bought outright(4) 490,257 25,353 195,243 14,684 28,378 36,882 29,842 46,045 16,127 5,863 14,702 24,428 52,711 Held under repurchase agreements(1) 3,825 0 3,825 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 494,082 25,353 199,068 14,684 28,378 36,882 29,842 46,045 16,127 5,863 14,702 24,428 52,711 Total loans and securities 503,185 25,365 207,690 14,694 28,392 36,900 29,866 46,172 16,200 5,937 14,758 24,442 52,769 Items in process of collection 8,495 401 1,059 352 364 546 981 613 421 533 444 369 2,412 Bank premises 1,332 93 163 50 156 124 116 107 31 129 52 146 164 Other assets(5) 31,502 1,414 10,487 891 1,863 4,420 1,983 2,809 778 736 796 1,286 4,040 Interdistrict settlement account 0 - 560 - 1,180 + 6,372 - 2,611 - 9,641 + 2,246 +14,434 + 2,322 - 2,865 + 1,646 - 8,788 - 1,374 TOTAL ASSETS 564,047 27,655 225,877 22,941 29,147 33,901 36,552 65,879 20,339 4,727 18,264 18,523 60,242 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 $ 3,938 million of inflation-indexed securities valued at the original face amount and $ 130 million of compensation that adjusts for the effects of inflation on the principal of such securities. 3 Includes $ 1,170 million of inflation-indexed securities valued at the original face amount and $ 26 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,321 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 577 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 September 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 512,790 25,586 208,692 21,602 26,562 26,906 32,885 61,715 19,003 3,322 16,757 16,689 53,071 Deposits Depository institutions 17,577 807 4,791 478 904 2,538 1,460 1,839 504 333 513 753 2,658 U.S. Treasury--general account 6,481 0 6,481 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 175 7 59 4 10 30 10 14 3 5 3 6 24 Other 264 0 137 0 1 103 2 1 5 0 4 2 9 Total deposits 24,498 813 11,469 483 914 2,671 1,472 1,854 513 338 520 761 2,691 Deferred credit items 8,397 411 928 291 537 627 991 613 322 544 458 379 2,297 Other liabilities and accrued dividends (1) 4,648 234 1,875 157 256 346 300 413 163 87 159 221 438 TOTAL LIABILITIES 550,333 27,043 222,965 22,532 28,269 30,550 35,647 64,595 20,000 4,291 17,894 18,049 58,497 CAPITAL ACCOUNTS Capital paid in 6,308 287 1,319 194 415 1,631 431 607 158 209 174 211 671 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 1,454 58 386 38 65 482 55 94 61 24 55 35 102 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 564,047 27,655 225,877 22,941 29,147 33,901 36,552 65,879 20,339 4,727 18,264 18,523 60,242 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 781,767 34,201 310,214 31,042 36,561 52,900 57,547 77,761 26,190 11,446 24,878 37,582 81,445 Less--Held by F.R. Banks 268,978 8,615 101,521 9,441 9,999 25,994 24,663 16,045 7,188 8,124 8,121 20,893 28,374 F.R. notes, net 512,790 25,586 208,692 21,602 26,562 26,906 32,885 61,715 19,003 3,322 16,757 16,689 53,071 Collateral held against F.R. notes Gold certificate account 11,045 Special drawing rights certificate account 8,200 Other eligible assets 0 U.S. govt. and agency securities 493,544 Total collateral 512,790 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.