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 18, 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 17, 1999 Nov 10, 1999 Nov 18, 1998 Nov 17, 1999 Reserve Bank Credit 561,724 + 9,482 + 66,513 564,023 U.S. government securities (1) Bought outright-system account (2,3) 492,677 + 717 + 42,243 493,096 Held under repurchase agreements 0 0 - 4,084 0 Federal agency obligations (1) Bought outright 181 - 6 - 192 181 Held under repurchase agreements 0 0 - 4,215 0 Repurchase agreements -- triparty (4) 33,669 + 9,518 + 33,669 35,320 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 435 + 344 + 363 2,115 Seasonal credit 59 - 5 + 26 64 Special Liquidity Facility 4 - 1 + 4 5 Extended credit 0 0 0 0 Float 419 - 103 - 47 571 Other F.R. assets 34,280 - 982 - 1,256 32,671 Gold stock 11,049 0 + 7 11,049 Special drawing rights certificate account 7,200 0 - 2,000 7,200 Treasury currency outstanding 27,529 + 2 + 1,393 27,527 Total factors supplying reserve funds 607,501 + 9,484 + 65,912 609,799 Currency in circulation* 568,138 + 5,399 + 65,532 571,088 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 95 0 + 7 97 Deposits,other than reserve balances,with F.R.Banks Treasury 4,726 - 88 - 75 5,228 Foreign 264 + 77 + 86 171 Service-related balances and adjustments (5) 7,082 - 52 + 309 7,082 Other 256 + 10 - 154 247 Other F.R. liabilities and capital 18,369 + 56 + 1,149 18,141 Total factors, other than reserve balances, absorbing reserve funds 598,929 + 5,401 + 66,853 602,055 Reserve balances with F.R. Banks (6) 8,572 + 4,083 - 941 7,745 On November 17, 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 612,297 million, a change of +$ 5,500 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 $ 15,563 million (daily average over statement week) and $ 15,285 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 15,563 million (daily average) and $ 15,285 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,748 million (daily average) and $ 1,828 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 $ 205 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 $ 6,825 million and adjustments of $ 257 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 17, 1999, option contracts on repurchase agreements were outstanding as follows: $ 88,850 million with exercise dates from December 23, 1999 through December 29, 1999; $ 173,000 million with exercise dates from December 30, 1999 through January 5, 2000; and $ 109,000 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 17, 1999 Nov 10, 1999 Nov 18, 1998 ASSETS Gold certificate account 11,049 0 + 8 Special drawing rights certificate account 7,200 0 - 2,000 Coin 272 - 17 - 132 Loans 2,184 + 2,092 + 2,145 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 35,320 + 7,500 + 35,320 Federal agency obligations (2) Bought outright 181 0 - 192 Held under repurchase agreements 0 0 - 4,263 U.S. government securities (2) Bought outright--Bills 200,414 + 197 + 4,059 Notes (3) 212,248 + 969 + 25,602 Bonds (4) 80,434 + 2 + 11,817 Total bought outright (5) 493,096 + 1,168 + 41,479 Held under repurchase agreements (1) 0 0 - 3,630 Total U.S. government securities 493,096 + 1,168 + 37,849 Total loans and securities 530,782 + 10,761 + 70,860 Items in process of collection (653) 8,857 + 1,873 + 110 Bank premises 1,347 0 + 52 Other assets (6) 31,123 - 2,796 - 1,621 TOTAL ASSETS (653) 590,629 + 9,820 + 67,277 LIABILITIES Federal Reserve notes 543,930 + 3,905 + 66,145 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 14,889 + 4,612 - 802 U.S. Treasury--general account 5,228 + 358 + 508 Foreign--official accounts 171 + 10 - 43 Other (0) 247 + 5 - 159 Total deposits (0) 20,536 + 4,985 - 494 Deferred availability cash items (653) 8,022 + 731 + 344 Other liabilities and accrued dividends (7) 4,518 + 175 + 47 TOTAL LIABILITIES (653) 577,006 + 9,797 + 66,041 CAPITAL ACCOUNTS Capital paid in 6,378 + 6 + 443 Surplus 5,952 0 + 732 Other capital accounts 1,294 + 18 + 62 *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 $ 162 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 $ 43 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 15,285 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,828 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 17, 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 2,177 11,795 - 6,281 0 0 8,745 0 16 to 90 days 5 104,149 + 1,840 31 + 25 26,575 0 91 days to 1 year 2 140,438 + 4,493 20 - 25 ------ ------ Over 1 to 5 years 122,120 + 1,894 10 0 ------ ------ Over 5 to 10 years 50,513 + 297 120 0 ------ ------ Over 10 years 64,082 - 1,074 0 0 ------ ------ Total 2,184 493,096 + 1,168 181 0 35,320 0 1 Includes $ 5,476 million of inflation-indexed securities valued at the original face amount and $ 205 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 17, 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 272 5 13 16 24 41 39 29 12 12 18 27 36 Loans 2,184 0 2,075 0 0 3 2 26 41 13 22 1 2 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 35,320 0 35,320 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 200,414 10,364 79,814 6,003 11,601 15,077 12,199 18,823 6,592 2,397 6,010 9,986 21,548 Notes (3) 212,248 10,976 84,527 6,357 12,286 15,967 12,919 19,934 6,982 2,538 6,365 10,576 22,820 Bonds (4) 80,434 4,159 32,032 2,409 4,656 6,051 4,896 7,554 2,646 962 2,412 4,008 8,648 Total bought outright(5) 493,096 25,500 196,373 14,769 28,543 37,096 30,014 46,312 16,220 5,897 14,787 24,570 53,016 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 493,096 25,500 196,373 14,769 28,543 37,096 30,014 46,312 16,220 5,897 14,787 24,570 53,016 Total loans and securities 530,782 25,509 233,840 14,775 28,553 37,112 30,027 46,355 16,267 5,912 14,814 24,579 53,038 Items in process of collection 9,510 431 1,319 516 268 763 687 675 333 612 634 568 2,703 Bank premises 1,347 93 163 50 156 124 131 107 32 128 51 146 165 Other assets(5) 31,123 1,397 10,143 886 1,853 4,465 1,972 2,795 770 742 787 1,270 4,042 Interdistrict settlement account 0 + 5,673 -14,647 + 5,815 + 472 - 6,020 + 7,584 +17,060 + 3,555 - 5,099 + 1,955 -19,697 + 3,348 TOTAL ASSETS 591,282 33,998 238,092 22,594 32,241 37,918 41,688 68,652 21,510 2,537 18,775 7,864 65,414 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 $ 162 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 $ 43 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 15,285 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,828 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 17, 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 543,930 31,526 223,888 21,139 29,594 32,167 38,057 64,240 19,992 874 17,211 6,133 59,108 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 14,889 1,168 3,225 507 1,081 1,340 1,264 2,070 744 509 545 636 1,801 U.S. Treasury--general account 5,228 0 5,228 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 171 7 55 4 10 30 10 14 3 5 3 6 24 Other 247 0 146 0 9 79 2 1 0 3 3 2 1 Total deposits 20,536 1,175 8,654 512 1,100 1,450 1,276 2,085 748 517 552 643 1,825 Deferred credit items 8,676 448 1,063 359 362 624 1,098 652 268 603 483 391 2,326 Other liabilities and accrued dividends (2) 4,518 243 1,595 164 269 381 313 430 171 94 164 231 464 TOTAL LIABILITIES 577,659 33,392 235,200 22,174 31,325 34,621 40,744 67,406 21,178 2,087 18,410 7,398 63,723 CAPITAL ACCOUNTS Capital paid in 6,378 289 1,319 202 442 1,632 456 598 158 229 174 213 665 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 1,294 49 364 41 75 428 69 64 53 18 51 26 55 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 591,282 33,998 238,092 22,594 32,241 37,918 41,688 68,652 21,510 2,537 18,775 7,864 65,414 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 825,430 42,061 328,987 31,115 39,202 55,115 61,667 80,263 26,639 11,491 24,891 36,989 87,010 Less--Held by F.R. Banks 281,501 10,534 105,098 9,976 9,608 22,947 23,610 16,024 6,647 10,618 7,681 30,856 27,902 F.R. notes, net 543,930 31,526 223,888 21,139 29,594 32,167 38,057 64,240 19,992 874 17,211 6,133 59,108 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) 525,681 Total collateral 543,930 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.