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 September 16, 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 Sep 15, 1999 Sep 8, 1999 Sep 16, 1998 Sep 15, 1999 Reserve Bank Credit (1,2) 534,635 + 60 + 47,836 540,499 U.S. government securities Bought outright-system account (3) 490,649 + 127 + 47,864 491,129 Held under repurchase agreements 1,268 - 1,190 - 6,770 1,335 Federal agency obligations Bought outright 238 0 - 165 238 Held under repurchase agreements 8,224 - 163 + 6,495 13,040 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 23 + 9 - 4 28 Seasonal credit 268 - 8 + 101 278 Extended credit 0 0 0 0 Float 967 + 995 + 437 1,260 Other F.R. assets 32,997 + 289 - 123 33,191 Gold stock 11,046 + 1 + 1 11,046 Special drawing rights certificate account 8,057 - 143 - 1,143 7,200 Treasury currency outstanding 27,235 + 14 + 1,280 27,235 Total factors supplying reserve funds 580,972 - 69 + 47,973 585,979 Currency in circulation* 542,493 + 790 + 48,695 543,383 Treasury cash holdings* 87 0 - 5 85 Deposits,other than reserve balances,with F.R.Banks Treasury 5,480 + 367 - 389 10,128 Foreign 229 + 33 + 54 242 Service-related balances and adjustments (4) 7,120 + 99 + 294 7,120 Other 269 + 12 - 89 256 Other F.R. liabilities and capital 18,245 - 337 + 1,247 18,108 Total factors, other than reserve balances, absorbing reserve funds 573,923 + 963 + 49,806 579,321 Reserve balances with F.R. Banks (5) 7,049 - 1,031 - 1,833 6,658 On September 15, 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 615,728 million, a change of -$ 1,798 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 16,758 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 16,282 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 16,416 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 16,416 million was with foreign official and international accounts. Includes $ 453 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 $ 164 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,716 million and adjustments of $ 404 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 Sep 15, 1999 Sep 8, 1999 Sep 16, 1998 ASSETS Gold certificate account 11,046 0 + 1 Special drawing rights certificate account 7,200 - 1,000 - 2,000 Coin 283 0 - 112 Loans 306 + 27 + 103 Acceptances 0 0 0 Federal agency obligations Bought outright 238 0 - 165 Held under repurchase agreements (1) 13,040 - 310 + 12,245 U.S. government securities Bought outright--Bills 199,283 - 309 + 1,251 Notes (2) 211,795 + 963 + 32,967 Bonds (3) 80,051 + 1 + 14,076 Total bought outright (4) 491,129 + 655 + 48,294 Held under repurchase agreements (1) 1,335 - 2,095 - 7,771 Total U.S. government securities 492,464 - 1,440 + 40,523 Total loans and securities 506,048 - 1,724 + 52,706 Items in process of collection (702) 8,399 - 2,245 + 723 Bank premises 1,333 + 1 + 36 Other assets (5) 31,930 + 134 + 111 TOTAL ASSETS (702) 566,238 - 4,835 + 51,464 LIABILITIES Federal Reserve notes 516,516 - 101 + 48,011 Deposits Depository institutions 13,449 - 8,640 - 2,118 U.S. Treasury--general account 10,128 + 5,982 + 3,863 Foreign--official accounts 242 + 26 + 79 Other (0) 256 - 8 - 101 Total deposits (0) 24,075 - 2,641 + 1,722 Deferred availability cash items (702) 7,539 - 1,962 + 357 Other liabilities and accrued dividends (6) 4,660 - 130 + 120 TOTAL LIABILITIES (702) 552,790 - 4,834 + 50,210 CAPITAL ACCOUNTS Capital paid in 6,312 + 4 + 362 Surplus 5,952 0 + 732 Other capital accounts 1,184 - 5 + 161 *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 $ 136 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 $ 28 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,416 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 453 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, September 15, 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 198 0 Within 15 days 17,471 + 2,888 8,775 - 310 16 to 90 days 108 0 16 to 90 days 100,885 + 23 4,322 + 30 Over 90 days 0 0 91 days to 1 year 136,787 - 4,354 51 + 10 Over 1 to 5 years 122,347 0 10 - 10 Over 5 to 10 years 50,199 + 2 120 - 30 Over 10 years 64,775 + 1 0 0 Total 306 0 Total 492,464 - 1,440 13,278 - 310 1 Includes $ 5,108 million of inflation-indexed securities valued at the original face amount and $ 164 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 September 15, 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 11,046 533 4,433 319 566 834 724 993 337 140 313 575 1,279 Special drawing rights certif. acct. 7,200 357 2,823 217 348 599 523 637 204 90 203 396 803 Coin 283 5 11 15 22 36 36 31 20 13 21 39 35 Loans 306 0 0 6 0 3 10 77 79 67 47 0 16 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations Bought outright 238 12 95 7 14 18 14 22 8 3 7 12 26 Held under repurchase agreements(1) 13,040 0 13,040 0 0 0 0 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 199,283 10,306 79,364 5,969 11,535 14,992 12,130 18,717 6,555 2,383 5,976 9,930 21,426 Notes (2) 211,795 10,953 84,346 6,344 12,260 15,933 12,892 19,892 6,967 2,533 6,351 10,553 22,772 Bonds (3) 80,051 4,140 31,880 2,398 4,634 6,022 4,873 7,518 2,633 957 2,401 3,989 8,607 Total bought outright(4) 491,129 25,398 195,590 14,710 28,429 36,948 29,895 46,127 16,155 5,874 14,728 24,472 52,805 Held under repurchase agreements(1) 1,335 0 1,335 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 492,464 25,398 196,925 14,710 28,429 36,948 29,895 46,127 16,155 5,874 14,728 24,472 52,805 Total loans and securities 506,048 25,410 210,060 14,723 28,443 36,968 29,919 46,226 16,242 5,943 14,783 24,484 52,847 Items in process of collection 9,100 454 1,155 352 334 722 1,147 484 623 624 514 313 2,379 Bank premises 1,333 93 164 50 156 124 116 107 31 129 52 146 165 Other assets(5) 31,930 1,443 10,482 973 1,895 4,465 2,029 2,868 795 736 812 1,318 4,114 Interdistrict settlement account 0 + 130 + 3,594 + 5,773 - 1,067 -10,061 + 3,663 +14,437 + 1,876 - 3,914 + 1,449 -14,273 - 1,606 TOTAL ASSETS 566,939 28,425 232,721 22,422 30,696 33,688 38,157 65,782 20,128 3,761 18,145 12,998 60,016 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 $ 136 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 $ 28 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 16,416 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 453 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 September 15, 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 516,516 26,612 212,968 21,180 28,337 28,095 34,866 62,015 18,839 2,351 16,683 11,125 53,445 Deposits Depository institutions 13,449 605 3,574 404 897 1,184 1,163 1,365 450 294 564 813 2,136 U.S. Treasury--general account 10,128 0 10,128 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 242 7 126 4 10 30 10 14 3 5 3 6 24 Other 256 0 146 0 2 94 1 1 5 0 2 2 2 Total deposits 24,075 612 13,974 409 909 1,308 1,175 1,380 458 299 569 820 2,162 Deferred credit items 8,240 371 983 274 334 650 926 728 343 601 372 372 2,287 Other liabilities and accrued dividends (1) 4,660 228 1,945 155 250 341 294 401 160 86 156 218 426 TOTAL LIABILITIES 553,491 27,823 229,870 22,018 29,830 30,393 37,261 64,524 19,800 3,338 17,780 12,535 58,319 CAPITAL ACCOUNTS Capital paid in 6,312 289 1,319 194 422 1,631 436 602 157 209 174 211 668 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 1,184 46 324 34 46 425 42 73 51 12 50 25 57 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 566,939 28,425 232,721 22,422 30,696 33,688 38,157 65,782 20,128 3,761 18,145 12,998 60,016 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 800,028 36,642 318,013 30,964 38,542 54,303 59,065 78,992 26,191 11,544 25,200 37,398 83,171 Less--Held by F.R. Banks 283,512 10,030 105,045 9,784 10,205 26,208 24,199 16,977 7,353 9,192 8,517 26,273 29,727 F.R. notes, net 516,516 26,612 212,968 21,180 28,337 28,095 34,866 62,015 18,839 2,351 16,683 11,125 53,445 Collateral held against F.R. notes Gold certificate account 11,046 Special drawing rights certificate account 7,200 Other eligible assets 0 U.S. govt. and agency securities 498,271 Total collateral 516,516 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.