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.