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 July 29, 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 Jul 28, 1999 Jul 21, 1999 Jul 29, 1998 Jul 28, 1999 Reserve Bank Credit (1,2) 526,240 + 2,823 + 47,154 527,707 U.S. government securities Bought outright-system account (3) 487,190 + 351 + 47,230 487,589 Held under repurchase agreements 2,190 + 583 - 2,738 2,355 Federal agency obligations Bought outright 252 - 2 - 274 249 Held under repurchase agreements 2,637 + 1,398 + 1,963 4,135 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 18 + 2 + 6 12 Seasonal credit 257 + 16 + 14 265 Extended credit 0 0 0 0 Float 320 + 24 + 289 -469 Other F.R. assets 33,376 + 450 + 664 33,572 Gold stock 11,047 + 1 0 11,047 Special drawing rights certificate account 8,200 0 - 1,000 8,200 Treasury currency outstanding 26,986 + 14 + 1,147 26,986 Total factors supplying reserve funds 572,472 + 2,838 + 47,301 573,940 Currency in circulation* 532,744 - 194 + 47,102 534,465 Treasury cash holdings* 53 - 3 - 128 57 Deposits,other than reserve balances,with F.R.Banks Treasury 4,901 - 155 - 214 5,311 Foreign 205 + 7 + 31 321 Service-related balances and adjustments (4) 7,312 + 93 + 579 7,312 Other 274 - 13 + 22 232 Other F.R. liabilities and capital 17,650 + 188 + 625 17,437 Total factors, other than reserve balances, absorbing reserve funds 563,139 - 76 + 48,017 565,136 Reserve balances with F.R. Banks (5) 9,333 + 2,914 - 717 8,804 On July 28, 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 604,241 million, a change of +$ 4,764 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 16,165 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 16,165 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 15,766 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 15,766 million was with foreign official and international accounts. Includes $ 1,726 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 $ 6,751 million and adjustments of $ 561 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 Jul 28, 1999 Jul 21, 1999 Jul 29, 1998 ASSETS Gold certificate account 11,047 0 0 Special drawing rights certificate account 8,200 0 - 1,000 Coin 300 + 11 - 113 Loans 276 - 43 + 25 Acceptances 0 0 0 Federal agency obligations Bought outright 249 - 5 - 277 Held under repurchase agreements (1) 4,135 + 2,965 + 3,025 U.S. government securities Bought outright--Bills 199,934 + 912 - 215 Notes (2) 209,771 0 + 30,885 Bonds (3) 77,884 0 + 15,566 Total bought outright (4) 487,589 + 912 + 46,235 Held under repurchase agreements (1) 2,355 + 1,940 - 6,056 Total U.S. government securities 489,944 + 2,852 + 31,768 Total loans and securities 494,605 + 5,769 + 42,954 Items in process of collection (596) 6,692 - 343 + 439 Bank premises 1,329 + 7 + 41 Other assets (5) 32,316 + 494 + 290 TOTAL ASSETS (596) 554,488 + 5,937 + 42,610 LIABILITIES Federal Reserve notes 507,836 + 1,024 + 46,176 Deposits Depository institutions 16,663 + 4,028 - 4,955 U.S. Treasury--general account 5,311 + 745 + 127 Foreign--official accounts 321 + 152 + 163 Other (0) 232 - 57 - 30 Total deposits (0) 22,528 + 4,868 - 4,694 Deferred availability cash items (596) 6,686 - 268 + 444 Other liabilities and accrued dividends (6) 4,337 + 309 - 459 TOTAL LIABILITIES (596) 541,387 + 5,933 + 41,467 CAPITAL ACCOUNTS Capital paid in 6,296 + 3 + 477 Surplus 5,952 0 + 732 Other capital accounts 853 + 1 - 66 *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 $ 15,766 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 1,726 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, July 28, 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 245 0 Within 15 days 14,331 - 2,936 4,135 + 2,960 16 to 90 days 32 0 16 to 90 days 101,194 + 798 31 + 10 Over 90 days 0 0 91 days to 1 year 139,542 + 4,990 48 - 10 Over 1 to 5 years 122,393 0 20 0 Over 5 to 10 years 49,861 0 150 0 Over 10 years 62,623 0 0 0 Total 276 0 Total 489,944 + 2,852 4,384 + 2,960 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 July 28, 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 11,047 533 4,434 319 566 834 724 993 337 140 313 575 1,279 Special drawing rights certif. acct. 8,200 406 3,215 247 396 683 596 725 232 103 231 451 915 Coin 300 6 14 24 18 38 38 29 21 18 20 45 29 Loans 276 1 0 1 0 0 15 62 55 76 33 1 34 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 249 13 99 7 14 19 15 23 8 3 7 12 27 Held under repurchase agreements(1) 4,135 0 4,135 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 199,934 10,339 79,623 5,988 11,573 15,041 12,170 18,778 6,577 2,391 5,996 9,962 21,496 Notes (2) 209,771 10,848 83,540 6,283 12,143 15,781 12,769 19,702 6,900 2,509 6,291 10,452 22,554 Bonds (3) 77,884 4,028 31,017 2,333 4,508 5,859 4,741 7,315 2,562 931 2,336 3,881 8,374 Total bought outright(4) 487,589 25,215 194,180 14,604 28,224 36,681 29,679 45,795 16,039 5,831 14,622 24,295 52,424 Held under repurchase agreements(1) 2,355 0 2,355 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 489,944 25,215 196,535 14,604 28,224 36,681 29,679 45,795 16,039 5,831 14,622 24,295 52,424 Total loans and securities 494,605 25,229 200,769 14,612 28,238 36,700 29,709 45,879 16,102 5,910 14,663 24,309 52,485 Items in process of collection 7,287 403 751 274 216 597 961 467 327 600 423 380 1,890 Bank premises 1,329 93 163 50 157 124 111 107 31 129 52 147 165 Other assets(5) 32,316 1,474 10,846 961 1,909 4,363 2,037 2,903 822 726 832 1,348 4,095 Interdistrict settlement account 0 - 636 - 2,551 + 8,822 - 896 -11,633 - 2,094 + 9,708 + 2,957 - 2,527 + 2,495 - 1,094 - 2,551 TOTAL ASSETS 555,083 27,507 217,641 25,309 30,604 31,706 32,082 60,812 20,827 5,099 19,029 26,161 58,307 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 $ 15,766 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 1,726 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 July 28, 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 507,836 25,232 203,071 23,953 27,750 26,107 28,755 56,724 19,255 3,070 17,355 24,241 52,323 Deposits Depository institutions 16,663 1,044 3,642 512 1,425 1,482 1,288 1,906 813 939 759 927 1,926 U.S. Treasury--general account 5,311 0 5,311 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 321 7 205 4 10 30 10 14 3 5 3 6 24 Other 232 0 140 1 3 71 1 2 2 0 7 2 2 Total deposits 22,528 1,051 9,298 517 1,438 1,584 1,298 1,922 819 944 770 934 1,952 Deferred credit items 7,282 401 825 283 304 706 846 511 266 558 391 306 1,885 Other liabilities and accrued dividends (1) 4,337 228 1,611 153 250 337 293 400 163 88 159 219 434 TOTAL LIABILITIES 541,982 26,912 214,805 24,907 29,742 28,734 31,193 59,558 20,503 4,660 18,674 25,700 56,594 CAPITAL ACCOUNTS Capital paid in 6,296 285 1,315 194 416 1,631 429 604 155 217 171 210 668 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 853 43 312 31 47 103 42 67 48 19 43 24 73 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 555,083 27,507 217,641 25,309 30,604 31,706 32,082 60,812 20,827 5,099 19,029 26,161 58,307 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 744,902 32,718 295,763 30,601 35,645 50,714 51,485 71,043 25,482 11,486 24,414 37,866 77,686 Less--Held by F.R. Banks 237,066 7,486 92,692 6,648 7,895 24,607 22,729 14,319 6,227 8,416 7,059 13,625 25,363 F.R. notes, net 507,836 25,232 203,071 23,953 27,750 26,107 28,755 56,724 19,255 3,070 17,355 24,241 52,323 Collateral held against F.R. notes Gold certificate account 11,047 Special drawing rights certificate account 8,200 Other eligible assets 0 U.S. govt. and agency securities 488,589 Total collateral 507,836 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.