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 June 3, 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 Jun 2, 1999 May 26, 1999 Jun 3, 1998 Jun 2, 1999 Reserve Bank Credit (1,2) 524,681 + 9,468 + 48,137 517,509 U.S. government securities Bought outright-system account (3) 482,393 + 2,085 + 41,040 481,204 Held under repurchase agreements 5,556 + 4,711 + 2,718 2,634 Federal agency obligations Bought outright 311 0 - 240 311 Held under repurchase agreements 4,139 + 2,350 + 3,546 2,867 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 13 + 5 - 22 13 Seasonal credit 105 - 1 - 24 97 Extended credit 0 0 0 0 Float 28 - 410 - 370 -1,193 Other F.R. assets 32,137 + 729 + 1,489 31,577 Gold stock 11,048 0 - 1 11,048 Special drawing rights certificate account 8,200 0 - 1,000 8,200 Treasury currency outstanding 26,764 + 14 + 1,034 26,764 Total factors supplying reserve funds 570,692 + 9,482 + 48,169 563,521 Currency in circulation* 528,205 + 4,510 + 46,929 529,877 Treasury cash holdings* 144 + 2 - 82 140 Deposits,other than reserve balances,with F.R.Banks Treasury 4,897 + 9 - 444 4,979 Foreign 185 - 66 + 24 270 Service-related balances and adjustments (4) 6,888 - 70 + 214 6,887 Other 233 - 36 - 87 266 Other F.R. liabilities and capital 17,526 + 173 + 804 17,110 Total factors, other than reserve balances, absorbing reserve funds 558,077 + 4,521 + 47,357 559,531 Reserve balances with F.R. Banks (5) 12,615 + 4,960 + 812 3,991 On June 2, 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 602,173 million, a change of +$ 6,858 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 18,119 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 17,928 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 19,309 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 17,971 million was with foreign official and international accounts. Includes $ 838 million securities loaned--fully secured U.S. government securities. 3 Includes $ 4,740 million of inflation-indexed securities valued at the original face amount and $ 117 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,580 million and adjustments of $ 308 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 Jun 2, 1999 May 26, 1999 Jun 3, 1998 ASSETS Gold certificate account 11,048 0 0 Special drawing rights certificate account 8,200 0 - 1,000 Coin 348 - 33 - 35 Loans 110 - 9 - 224 Acceptances 0 0 0 Federal agency obligations Bought outright 311 0 - 240 Held under repurchase agreements (1) 2,867 - 655 + 1,537 U.S. government securities Bought outright--Bills 196,390 - 669 - 2,688 Notes (2) 207,109 + 984 + 26,519 Bonds (3) 77,704 + 171 + 15,790 Total bought outright (4) 481,204 + 486 + 39,622 Held under repurchase agreements (1) 2,634 + 158 - 1,560 Total U.S. government securities 483,838 + 644 + 38,062 Total loans and securities 487,126 - 19 + 39,135 Items in process of collection (587) 13,053 + 5,954 + 4,345 Bank premises 1,315 - 1 + 29 Other assets (5) 30,306 - 209 + 833 TOTAL ASSETS (587) 551,395 + 5,691 + 43,305 LIABILITIES Federal Reserve notes 503,601 + 3,472 + 46,657 Deposits Depository institutions 14,549 - 1,433 - 6,971 U.S. Treasury--general account 4,979 - 122 - 232 Foreign--official accounts 270 + 59 + 108 Other (0) 266 + 31 - 68 Total deposits (0) 20,064 - 1,465 - 7,163 Deferred availability cash items (587) 10,619 + 3,692 + 3,154 Other liabilities and accrued dividends (6) 4,333 + 148 - 574 TOTAL LIABILITIES (587) 538,617 + 5,848 + 42,075 CAPITAL ACCOUNTS Capital paid in 6,247 + 9 + 521 Surplus 5,952 0 + 732 Other capital accounts 579 - 166 - 22 *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 $ 3,570 million of inflation-indexed securities valued at the original face amount and $ 99 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 $ 18 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 19,309 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 838 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, June 2, 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 37 0 Within 15 days 17,182 - 1,395 2,915 - 655 16 to 90 days 73 0 16 to 90 days 93,767 - 4,166 25 + 11 Over 90 days 0 0 91 days to 1 year 139,774 + 5,524 68 - 11 Over 1 to 5 years 121,096 - 339 20 0 Over 5 to 10 years 49,404 + 874 150 0 Over 10 years 62,615 + 146 0 0 Total 110 0 Total 483,838 + 644 3,178 - 655 1 Includes $ 4,740 million of inflation-indexed securities valued at the original face amount and $ 117 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 June 2, 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. 8,200 406 3,215 247 396 683 596 725 232 103 231 451 915 Coin 348 13 12 45 13 41 39 38 16 24 23 41 44 Loans 110 2 7 0 0 0 8 12 24 29 19 0 8 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 311 16 124 9 18 23 19 29 10 4 9 15 33 Held under repurchase agreements(1) 2,867 0 2,867 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 196,390 10,156 78,212 5,882 11,368 14,774 11,954 18,445 6,460 2,349 5,889 9,786 21,115 Notes (2) 207,109 10,710 82,480 6,203 11,988 15,581 12,607 19,452 6,813 2,477 6,211 10,320 22,268 Bonds (3) 77,704 4,018 30,945 2,327 4,498 5,846 4,730 7,298 2,556 929 2,330 3,872 8,355 Total bought outright(4) 481,204 24,885 191,637 14,413 27,854 36,201 29,290 45,195 15,829 5,755 14,430 23,977 51,737 Held under repurchase agreements(1) 2,634 0 2,634 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 483,838 24,885 194,271 14,413 27,854 36,201 29,290 45,195 15,829 5,755 14,430 23,977 51,737 Total loans and securities 487,126 24,903 197,269 14,422 27,872 36,224 29,317 45,236 15,863 5,788 14,458 23,993 51,779 Items in process of collection 13,640 759 1,398 655 899 1,332 1,725 1,117 700 1,033 781 386 2,857 Bank premises 1,315 93 162 50 157 124 98 106 31 129 52 148 164 Other assets(5) 30,306 1,360 10,071 923 1,786 4,205 1,955 2,695 747 697 761 1,243 3,862 Interdistrict settlement account 0 + 781 - 5,230 + 6,185 - 1,589 -11,031 - 1,958 + 9,757 + 2,725 - 3,455 + 2,797 - 16 + 1,034 TOTAL ASSETS 551,982 28,848 211,332 22,845 30,100 32,413 32,496 60,667 20,652 4,459 19,416 26,820 61,934 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 $ 3,570 million of inflation-indexed securities valued at the original face amount and $ 99 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 $ 18 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 19,309 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 838 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 June 2, 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 503,601 26,811 198,633 21,357 26,881 27,533 28,562 55,946 18,748 2,536 17,501 24,575 54,518 Deposits Depository institutions 14,549 554 1,735 578 1,585 826 1,632 2,137 952 499 917 1,065 2,067 U.S. Treasury--general account 4,979 0 4,979 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 270 7 154 4 10 30 10 14 3 5 3 6 24 Other 266 2 140 1 1 93 6 1 1 0 12 2 6 Total deposits 20,064 563 7,009 584 1,596 950 1,649 2,152 956 504 933 1,073 2,097 Deferred credit items 11,206 657 1,381 335 544 985 1,125 929 488 897 489 509 2,865 Other liabilities and accrued dividends (1) 4,333 232 1,528 157 265 355 299 412 163 90 159 223 451 TOTAL LIABILITIES 539,204 28,262 208,551 22,434 29,285 29,823 31,635 59,440 20,356 4,027 19,081 26,380 59,930 CAPITAL ACCOUNTS Capital paid in 6,247 285 1,308 202 407 1,301 422 598 141 217 164 206 997 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 579 33 265 32 9 52 20 47 35 14 31 6 35 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 551,982 28,848 211,332 22,845 30,100 32,413 32,496 60,667 20,652 4,459 19,416 26,820 61,934 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 713,123 32,173 284,289 24,591 32,974 51,396 47,810 68,765 23,872 11,218 23,498 35,955 76,582 Less--Held by F.R. Banks 209,521 5,362 85,656 3,234 6,093 23,863 19,248 12,819 5,123 8,682 5,997 11,379 22,064 F.R. notes, net 503,601 26,811 198,633 21,357 26,881 27,533 28,562 55,946 18,748 2,536 17,501 24,575 54,518 Collateral held against F.R. notes Gold certificate account 11,048 Special drawing rights certificate account 8,200 Other eligible assets 0 U.S. govt. and agency securities 484,354 Total collateral 503,601 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.