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 9, 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 8, 1999 Dec 1, 1999 Dec 9, 1998 Dec 8, 1999 Reserve Bank Credit 574,563 + 1,016 + 78,564 578,321 U.S. government securities (1) Bought outright-system account (2,3) 493,998 + 421 + 39,468 494,744 Held under repurchase agreements 0 0 - 3,509 0 Federal agency obligations (1) Bought outright 181 0 - 187 181 Held under repurchase agreements 0 0 - 3,245 0 Repurchase agreements -- triparty (4) 45,754 - 349 + 45,754 47,025 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 21 - 38 + 19 32 Seasonal credit 61 - 4 + 49 55 Special Liquidity Facility 10 + 2 + 10 11 Extended credit 0 0 0 0 Float 1,229 + 1,024 + 472 2,673 Other F.R. assets 33,310 - 40 - 267 33,600 Gold stock 11,048 - 1 + 7 11,048 Special drawing rights certificate account 7,200 0 - 2,000 7,200 Treasury currency outstanding 27,583 + 26 + 1,383 27,583 Total factors supplying reserve funds 620,395 + 1,042 + 77,955 624,153 Currency in circulation* 584,927 + 4,537 + 78,168 588,843 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 112 + 23 + 14 108 Deposits,other than reserve balances,with F.R.Banks Treasury 4,800 - 307 - 235 5,127 Foreign 186 - 25 + 32 178 Service-related balances and adjustments (5) 7,095 - 199 + 358 7,095 Other 224 - 21 - 122 214 Other F.R. liabilities and capital 18,345 - 48 + 1,846 18,142 Total factors, other than reserve balances, absorbing reserve funds 615,689 + 3,960 + 80,062 619,708 Reserve balances with F.R. Banks (6) 4,706 - 2,918 - 2,107 4,445 On December 8, 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 624,916 million, a change of -$ 772 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 $ 16,461 million (daily average over statement week) and $ 16,466 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 16,461 million (daily average) and $ 16,466 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 352 million (daily average) and $ 151 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 $ 220 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 $ 6,857 million and adjustments of $ 238 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 8, 1999, option contracts on repurchase agreements were outstanding as follows: $ 114 million with exercise dates from December 23, 1999 through December 29, 1999; $ 223 million with exercise dates from December 30, 1999 through January 5, 2000; and $ 144 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 8, 1999 Dec 1, 1999 Dec 9, 1998 ASSETS Gold certificate account 11,048 0 + 7 Special drawing rights certificate account 7,200 0 - 2,000 Coin 228 - 2 - 157 Loans 98 + 13 + 80 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 47,025 - 2,480 + 47,025 Federal agency obligations (2) Bought outright 181 0 - 187 Held under repurchase agreements 0 0 - 3,486 U.S. government securities (2) Bought outright--Bills 199,233 + 392 + 1,820 Notes (3) 213,273 + 2 + 25,383 Bonds (4) 82,238 + 876 + 12,766 Total bought outright (5) 494,744 + 1,270 + 39,969 Held under repurchase agreements (1) 0 0 - 4,897 Total U.S. government securities 494,744 + 1,270 + 35,072 Total loans and securities 542,048 - 1,197 + 78,504 Items in process of collection (852) 8,958 + 920 + 585 Bank premises 1,354 + 1 + 59 Other assets (6) 32,081 + 529 - 1,012 TOTAL ASSETS (852) 602,917 + 251 + 75,986 LIABILITIES Federal Reserve notes 561,596 + 5,064 + 79,395 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 10,189 - 4,750 - 5,829 U.S. Treasury--general account 5,127 + 45 + 928 Foreign--official accounts 178 + 16 + 23 Other (2) 214 - 22 - 113 Total deposits (2) 15,709 - 4,711 - 4,989 Deferred availability cash items (850) 7,469 - 253 + 86 Other liabilities and accrued dividends (7) 4,457 0 + 100 TOTAL LIABILITIES (852) 589,232 + 101 + 74,593 CAPITAL ACCOUNTS Capital paid in 6,412 + 38 + 475 Surplus 5,952 0 + 732 Other capital accounts 1,320 + 111 + 185 *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 $ 173 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 $ 16,466 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 151 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 8, 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 52 15,145 + 3,707 0 0 4,850 0 16 to 90 days 43 105,402 + 1,980 31 0 42,175 0 91 days to 1 year 3 135,375 - 5,295 20 0 ------ ------ Over 1 to 5 years 122,414 0 10 0 ------ ------ Over 5 to 10 years 50,521 + 1 120 0 ------ ------ Over 10 years 65,886 + 875 0 0 ------ ------ Total 98 494,744 + 1,270 181 0 47,025 0 1 Includes $ 5,476 million of inflation-indexed securities valued at the original face amount and $ 220 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 8, 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 228 6 11 13 12 38 30 27 11 11 17 18 34 Loans 98 14 2 0 0 8 4 12 14 9 19 2 14 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 47,025 0 47,025 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 199,233 10,303 79,344 5,967 11,533 14,988 12,127 18,712 6,554 2,383 5,975 9,927 21,421 Notes (3) 213,273 11,029 84,935 6,388 12,345 16,044 12,982 20,031 7,015 2,551 6,396 10,627 22,930 Bonds (4) 82,238 4,253 32,751 2,463 4,760 6,187 5,006 7,724 2,705 984 2,466 4,098 8,842 Total bought outright(5) 494,744 25,585 197,030 14,818 28,638 37,220 30,115 46,467 16,274 5,917 14,836 24,652 53,193 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 494,744 25,585 197,030 14,818 28,638 37,220 30,115 46,467 16,274 5,917 14,836 24,652 53,193 Total loans and securities 542,048 25,608 244,129 14,824 28,649 37,241 30,130 46,495 16,294 5,928 14,861 24,662 53,227 Items in process of collection 9,810 951 1,129 455 434 732 1,126 692 346 622 625 354 2,344 Bank premises 1,354 93 163 50 156 124 138 107 32 128 51 146 165 Other assets(5) 32,081 1,434 10,598 974 1,897 4,519 2,024 2,864 789 746 807 1,311 4,117 Interdistrict settlement account 0 + 6,087 -24,575 + 5,935 + 382 - 3,830 + 8,599 +17,609 + 3,785 - 4,704 + 2,180 -16,004 + 4,535 TOTAL ASSETS 603,768 35,068 238,714 22,787 32,444 40,258 43,294 69,425 21,797 2,962 19,057 11,459 66,503 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 $ 173 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 $ 16,466 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 151 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 8, 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 561,596 33,268 226,572 21,607 30,099 34,235 40,159 65,197 20,597 1,651 17,746 9,789 60,674 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 10,189 509 1,220 261 702 1,479 835 1,901 437 279 378 614 1,575 U.S. Treasury--general account 5,127 0 5,127 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 178 7 62 4 10 30 10 14 3 5 3 6 24 Other 216 0 141 0 -4 62 8 1 1 1 2 2 3 Total deposits 15,710 515 6,551 265 707 1,571 853 1,916 441 284 384 621 1,601 Deferred credit items 8,320 437 1,132 340 471 691 1,022 638 258 473 401 354 2,104 Other liabilities and accrued dividends (2) 4,457 241 1,550 162 272 388 316 424 168 92 163 229 453 TOTAL LIABILITIES 590,084 34,462 235,805 22,374 31,550 36,885 42,350 68,176 21,464 2,500 18,693 10,993 64,833 CAPITAL ACCOUNTS Capital paid in 6,412 289 1,325 199 434 1,691 458 601 159 230 174 213 640 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 1,320 49 375 37 62 445 68 65 54 30 49 26 59 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 603,768 35,068 238,714 22,787 32,444 40,258 43,294 69,425 21,797 2,962 19,057 11,459 66,503 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 824,756 42,967 327,382 31,043 39,212 55,021 62,291 79,743 26,575 11,428 24,744 36,811 87,540 Less--Held by F.R. Banks 263,160 9,698 100,810 9,436 9,113 20,785 22,132 14,546 5,978 9,777 6,997 27,022 26,866 F.R. notes, net 561,596 33,268 226,572 21,607 30,099 34,235 40,159 65,197 20,597 1,651 17,746 9,789 60,674 Collateral held against F.R. notes Gold certificate account 11,048 Special drawing rights certificate account 7,200 Other eligible assets 1,398 U.S. govt. and agency securities(3) 541,950 Total collateral 561,596 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.