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 October 21, 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 Oct 20, 1999 Oct 13, 1999 Oct 21, 1998 Oct 20, 1999 Reserve Bank Credit 544,461 + 3,243 + 53,625 550,307 U.S. government securities (1) Bought outright-system account (2,3) 490,907 - 137 + 43,618 491,367 Held under repurchase agreements 0 0 - 4,096 0 Federal agency obligations (1) Bought outright 198 - 21 - 190 198 Held under repurchase agreements 0 0 - 4,415 0 Repurchase agreements -- triparty (4) 18,123 + 3,464 + 18,123 23,550 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 15 - 11 + 11 14 Seasonal credit 224 - 39 + 125 209 Special Liquidity Facility 1 + 1 + 1 6 Extended credit 0 0 0 0 Float 552 - 228 + 730 352 Other F.R. assets 34,442 + 216 - 281 34,613 Gold stock 11,050 - 1 + 6 11,050 Special drawing rights certificate account 7,200 0 - 2,000 7,200 Treasury currency outstanding 27,396 + 14 + 1,346 27,396 Total factors supplying reserve funds 590,107 + 3,256 + 52,977 595,953 Currency in circulation* 551,541 + 1,733 + 54,337 552,914 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 94 - 3 + 2 92 Deposits,other than reserve balances,with F.R.Banks Treasury 5,421 + 186 + 99 4,925 Foreign 187 - 15 - 22 167 Service-related balances and adjustments (5) 7,096 + 16 + 143 7,096 Other 291 - 28 - 117 311 Other F.R. liabilities and capital 18,332 + 137 + 1,114 17,991 Total factors, other than reserve balances, absorbing reserve funds 582,963 + 2,028 + 55,558 583,496 Reserve balances with F.R. Banks (6) 7,144 + 1,228 - 2,581 12,457 On October 20, 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 609,657 million, a change of -$ 1,978 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 $ 16,513 million (daily average over statement week) and $ 16,031 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 16,371 million (daily average) and $ 16,031 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,202 million (daily average) and $ 580 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 $ 186 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 $ 6,841 million and adjustments of $ 255 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 October 20, 1999, option contracts on repurchase agreements were outstanding as follows: $ 11,950 million with exercise dates from December 23, 1999 through December 29, 1999; $ 18,050 million with exercise dates from December 30, 1999 through January 5, 2000; and $ 12,000 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 Oct 20, 1999 Oct 13, 1999 Oct 21, 1998 ASSETS Gold certificate account 11,050 - 1 + 6 Special drawing rights certificate account 7,200 0 - 2,000 Coin 317 + 13 - 96 Loans 228 - 33 + 133 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 23,550 + 8,030 + 23,550 Federal agency obligations (2) Bought outright 198 0 - 190 Held under repurchase agreements 0 0 - 5,488 U.S. government securities (2) Bought outright--Bills 199,669 + 246 + 2,282 Notes (3) 211,270 - 536 + 27,679 Bonds (4) 80,428 + 374 + 13,373 Total bought outright (5) 491,367 + 85 + 43,335 Held under repurchase agreements (1) 0 0 - 4,115 Total U.S. government securities 491,367 + 85 + 39,220 Total loans and securities 515,343 + 8,082 + 57,226 Items in process of collection (482) 7,656 - 6,221 + 691 Bank premises 1,342 + 1 + 46 Other assets (6) 33,225 + 176 + 47 TOTAL ASSETS (482) 576,132 + 2,048 + 55,919 LIABILITIES Federal Reserve notes 525,927 + 1,384 + 53,866 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 19,633 + 4,209 + 860 U.S. Treasury--general account 4,925 - 23 + 83 Foreign--official accounts 167 - 117 - 10 Other (7) 311 + 41 - 87 Total deposits (7) 25,035 + 4,108 + 845 Deferred availability cash items (475) 7,179 - 3,660 + 242 Other liabilities and accrued dividends (7) 4,463 + 201 - 125 TOTAL LIABILITIES (482) 562,604 + 2,034 + 54,828 CAPITAL ACCOUNTS Capital paid in 6,337 + 1 + 421 Surplus 5,952 0 + 732 Other capital accounts 1,239 + 14 - 61 *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 $ 148 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 $ 38 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 16,031 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 580 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, October 20, 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 197 10,793 - 4,185 10 0 6,990 0 16 to 90 days 30 101,936 - 387 7 0 16,560 0 91 days to 1 year 1 142,077 + 4,281 51 0 ------ ------ Over 1 to 5 years 121,200 0 10 0 ------ ------ Over 5 to 10 years 50,209 + 2 120 0 ------ ------ Over 10 years 65,152 + 374 0 0 ------ ------ Total 228 491,367 + 85 198 0 23,550 0 1 Includes $ 5,476 million of inflation-indexed securities valued at the original face amount and $ 186 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 October 20, 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 11,050 533 4,437 319 566 834 724 993 337 140 313 575 1,279 Special drawing rights certif. acct. 7,200 357 2,823 217 348 599 523 637 204 90 203 396 803 Coin 317 9 16 16 25 45 41 35 19 13 20 36 41 Loans 228 0 0 1 0 5 9 42 69 48 48 1 3 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 23,550 0 23,550 0 0 0 0 0 0 0 0 0 0 Federal agency obligations(2) Bought outright 198 10 79 6 11 15 12 19 7 2 6 10 21 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 199,669 10,325 79,517 5,980 11,558 15,021 12,154 18,753 6,568 2,388 5,988 9,949 21,468 Notes (3) 211,270 10,925 84,137 6,328 12,229 15,894 12,860 19,843 6,950 2,527 6,336 10,527 22,715 Bonds (4) 80,428 4,159 32,030 2,409 4,656 6,051 4,896 7,554 2,646 962 2,412 4,008 8,647 Total bought outright(5) 491,367 25,410 195,685 14,717 28,443 36,965 29,909 46,149 16,163 5,877 14,735 24,483 52,830 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 491,367 25,410 195,685 14,717 28,443 36,965 29,909 46,149 16,163 5,877 14,735 24,483 52,830 Total loans and securities 515,343 25,420 219,313 14,725 28,454 36,985 29,930 46,210 16,239 5,927 14,790 24,495 52,854 Items in process of collection 8,137 426 903 426 313 495 834 630 444 646 484 280 2,257 Bank premises 1,342 93 164 50 156 124 125 107 32 129 51 146 165 Other assets(5) 33,225 1,512 10,924 983 1,977 4,614 2,106 2,999 839 765 852 1,384 4,270 Interdistrict settlement account 0 + 4,645 - 689 + 5,015 - 65 - 8,711 + 5,519 +15,961 + 2,546 - 5,545 + 1,233 -21,360 + 1,450 TOTAL ASSETS 576,614 32,995 237,892 21,752 31,774 34,986 39,803 67,572 20,659 2,166 17,947 5,951 63,119 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 $ 148 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 $ 38 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 16,031 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 580 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 October 20, 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 525,927 30,133 221,278 20,313 29,057 29,403 36,354 62,967 19,296 457 16,507 3,197 56,965 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 19,633 1,639 6,109 560 1,237 1,208 1,334 2,283 585 571 524 1,752 1,832 U.S. Treasury--general account 4,925 0 4,925 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 167 7 51 4 10 30 10 14 3 5 3 6 24 Other 318 0 167 0 2 113 16 1 11 1 2 3 2 Total deposits 25,042 1,646 11,252 564 1,249 1,351 1,360 2,298 599 577 529 1,760 1,857 Deferred credit items 7,653 367 924 295 297 565 874 632 262 614 382 300 2,142 Other liabilities and accrued dividends (2) 4,463 245 1,563 163 266 375 310 427 169 93 164 230 459 TOTAL LIABILITIES 563,086 32,391 235,016 21,335 30,868 31,695 38,898 66,324 20,326 1,741 17,581 5,487 61,423 CAPITAL ACCOUNTS Capital paid in 6,337 289 1,319 201 441 1,632 436 597 157 210 174 213 670 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 1,239 48 349 39 67 422 50 68 54 13 51 25 54 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 576,614 32,995 237,892 21,752 31,774 34,986 39,803 67,572 20,659 2,166 17,947 5,951 63,119 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 828,391 41,614 330,773 31,253 39,451 55,521 61,517 80,949 26,670 11,551 25,066 37,319 86,708 Less--Held by F.R. Banks 302,464 11,481 109,495 10,940 10,394 26,117 25,163 17,982 7,374 11,094 8,560 34,122 29,743 F.R. notes, net 525,927 30,133 221,278 20,313 29,057 29,403 36,354 62,967 19,296 457 16,507 3,197 56,965 Collateral held against F.R. notes Gold certificate account 11,050 Special drawing rights certificate account 7,200 Other eligible assets 0 U.S. govt. and agency securities(3) 507,677 Total collateral 525,927 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.