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 November 4, 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 Nov 3, 1999 Oct 27, 1999 Nov 4, 1998 Nov 3, 1999 Reserve Bank Credit 550,733 + 7,157 + 56,890 554,924 U.S. government securities (1) Bought outright-system account (2,3) 490,916 + 205 + 40,788 491,529 Held under repurchase agreements 0 0 - 3,333 0 Federal agency obligations (1) Bought outright 188 - 6 - 197 188 Held under repurchase agreements 0 0 - 3,878 0 Repurchase agreements -- triparty (4) 23,800 + 6,739 + 23,800 26,580 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 104 + 64 + 69 533 Seasonal credit 115 - 76 + 48 81 Special Liquidity Facility 36 + 29 + 36 210 Extended credit 0 0 0 0 Float 279 - 46 + 397 670 Other F.R. assets 35,296 + 247 - 838 35,133 Gold stock 11,049 - 1 + 8 11,049 Special drawing rights certificate account 7,200 0 - 2,000 7,200 Treasury currency outstanding 27,424 + 14 + 1,334 27,424 Total factors supplying reserve funds 596,406 + 7,170 + 56,232 600,597 Currency in circulation* 556,975 + 3,879 + 58,698 560,748 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 94 + 2 + 7 95 Deposits,other than reserve balances,with F.R.Banks Treasury 4,968 - 238 - 62 5,610 Foreign 177 - 3 + 13 162 Service-related balances and adjustments (5) 7,276 + 214 + 417 7,276 Other 230 - 30 - 176 258 Other F.R. liabilities and capital 18,324 + 82 + 275 18,040 Total factors, other than reserve balances, absorbing reserve funds 588,043 + 3,905 + 59,170 592,190 Reserve balances with F.R. Banks (6) 8,362 + 3,264 - 2,939 8,407 On November 3, 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 610,057 million, a change of +$ 1,909 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 $ 16,487 million (daily average over statement week) and $ 15,876 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 16,487 million (daily average) and $ 15,876 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,265 million (daily average) and $ 1,274 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 $ 193 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 $ 6,795 million and adjustments of $ 481 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 November 3, 1999, option contracts on repurchase agreements were outstanding as follows: $ 43,950 million with exercise dates from December 23, 1999 through December 29, 1999; $ 93,050 million with exercise dates from December 30, 1999 through January 5, 2000; and $ 49,000 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 Nov 3, 1999 Oct 27, 1999 Nov 4, 1998 ASSETS Gold certificate account 11,049 - 1 + 8 Special drawing rights certificate account 7,200 0 - 2,000 Coin 305 - 12 - 104 Loans 824 + 613 + 764 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 26,580 + 6,515 + 26,580 Federal agency obligations (2) Bought outright 188 0 - 185 Held under repurchase agreements 0 0 - 3,234 U.S. government securities (2) Bought outright--Bills 199,823 - 527 + 2,164 Notes (3) 211,275 + 3 + 26,241 Bonds (4) 80,430 + 1 + 12,734 Total bought outright (5) 491,529 - 522 + 41,141 Held under repurchase agreements (1) 0 0 - 2,050 Total U.S. government securities 491,529 - 522 + 39,091 Total loans and securities 519,120 + 6,605 + 63,015 Items in process of collection (662) 8,434 + 1,778 + 504 Bank premises 1,346 + 5 + 52 Other assets (6) 33,517 - 67 - 1,449 TOTAL ASSETS (662) 580,970 + 8,306 + 60,025 LIABILITIES Federal Reserve notes 533,724 + 5,275 + 59,294 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 15,480 + 705 + 1,160 U.S. Treasury--general account 5,610 + 1,247 - 304 Foreign--official accounts 162 - 10 - 29 Other (0) 258 + 35 - 180 Total deposits (0) 21,511 + 1,978 + 648 Deferred availability cash items (662) 7,696 + 966 - 95 Other liabilities and accrued dividends (7) 4,360 - 84 - 33 TOTAL LIABILITIES (662) 567,291 + 8,135 + 59,814 CAPITAL ACCOUNTS Capital paid in 6,361 + 7 + 438 Surplus 5,952 0 + 732 Other capital accounts 1,366 + 165 - 959 *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 $ 153 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 $ 40 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 15,876 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,274 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, November 3, 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 766 17,543 + 7,166 7 0 10,020 0 16 to 90 days 58 96,798 - 6,374 6 0 16,560 0 91 days to 1 year 0 141,595 - 342 45 0 ------ ------ Over 1 to 5 years 120,225 - 976 10 0 ------ ------ Over 5 to 10 years 50,213 + 2 120 0 ------ ------ Over 10 years 65,154 + 1 0 0 ------ ------ Total 824 491,529 - 522 188 0 26,580 0 1 Includes $ 5,476 million of inflation-indexed securities valued at the original face amount and $ 193 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 November 3, 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 11,049 533 4,436 319 566 834 724 993 337 140 313 575 1,279 Special drawing rights certif. acct. 7,200 357 2,823 217 348 599 523 637 204 90 203 396 803 Coin 305 7 14 15 27 42 44 30 17 12 20 33 42 Loans 824 460 0 5 0 128 33 18 35 9 120 0 17 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 26,580 0 26,580 0 0 0 0 0 0 0 0 0 0 Federal agency obligations(2) Bought outright 188 10 75 6 11 14 11 18 6 2 6 9 20 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 199,823 10,333 79,579 5,985 11,567 15,033 12,163 18,767 6,573 2,390 5,992 9,957 21,484 Notes (3) 211,275 10,926 84,139 6,328 12,230 15,894 12,860 19,843 6,950 2,527 6,336 10,527 22,716 Bonds (4) 80,430 4,159 32,031 2,409 4,656 6,051 4,896 7,554 2,646 962 2,412 4,008 8,648 Total bought outright(5) 491,529 25,418 195,749 14,722 28,452 36,978 29,919 46,165 16,168 5,879 14,740 24,492 52,848 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 491,529 25,418 195,749 14,722 28,452 36,978 29,919 46,165 16,168 5,879 14,740 24,492 52,848 Total loans and securities 519,120 25,888 222,404 14,732 28,463 37,119 29,963 46,200 16,209 5,890 14,866 24,501 52,885 Items in process of collection 9,096 443 1,104 487 381 426 922 779 367 733 581 693 2,180 Bank premises 1,346 93 163 50 156 124 131 108 32 128 51 146 165 Other assets(5) 33,517 1,526 11,048 959 1,995 4,648 2,129 3,027 847 772 861 1,396 4,310 Interdistrict settlement account 0 + 4,165 - 7,272 + 5,270 + 669 - 6,342 + 6,573 +16,277 + 3,296 - 5,449 + 1,463 -21,811 + 3,160 TOTAL ASSETS 581,633 33,012 234,720 22,049 32,605 37,450 41,009 68,051 21,309 2,318 18,358 5,929 64,823 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 $ 153 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 $ 40 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 15,876 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,274 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 November 3, 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 533,724 30,682 221,638 20,650 29,228 30,727 37,598 63,483 19,747 635 16,842 4,028 58,466 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 15,480 1,065 1,841 398 1,837 2,317 1,224 2,238 763 443 551 807 1,997 U.S. Treasury--general account 5,610 0 5,610 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 162 7 46 4 10 30 10 14 3 5 3 6 24 Other 258 0 141 0 12 89 3 3 0 3 2 2 2 Total deposits 21,511 1,072 7,638 403 1,859 2,436 1,237 2,255 766 450 556 815 2,023 Deferred credit items 8,358 411 1,031 418 337 586 925 640 296 713 434 392 2,174 Other liabilities and accrued dividends (2) 4,360 235 1,522 160 263 369 304 418 166 90 160 225 448 TOTAL LIABILITIES 567,953 32,400 231,830 21,631 31,687 34,119 40,064 66,795 20,976 1,888 17,993 5,460 63,111 CAPITAL ACCOUNTS Capital paid in 6,361 289 1,319 201 441 1,632 456 599 157 210 174 213 671 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 1,366 55 363 41 79 462 70 73 56 18 51 29 70 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 581,633 33,012 234,720 22,049 32,605 37,450 41,009 68,051 21,309 2,318 18,358 5,929 64,823 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 826,931 41,801 329,464 31,258 39,234 55,374 61,962 80,410 26,678 11,532 24,961 37,194 87,061 Less--Held by F.R. Banks 293,208 11,119 107,826 10,608 10,007 24,647 24,364 16,928 6,931 10,898 8,119 33,166 28,595 F.R. notes, net 533,724 30,682 221,638 20,650 29,228 30,727 37,598 63,483 19,747 635 16,842 4,028 58,466 Collateral held against F.R. notes Gold certificate account 11,049 Special drawing rights certificate account 7,200 Other eligible assets 0 U.S. govt. and agency securities(3) 515,475 Total collateral 533,724 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.