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 December 2, 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 Dec 1, 1999 Nov 24, 1999 Dec 2, 1998 Dec 1, 1999 Reserve Bank Credit 573,579 + 10,646 + 72,141 576,290 U.S. government securities (1) Bought outright-system account (2,3) 493,577 - 424 + 39,179 493,474 Held under repurchase agreements 0 0 - 5,714 0 Federal agency obligations (1) Bought outright 181 0 - 187 181 Held under repurchase agreements 0 0 - 5,291 0 Repurchase agreements -- triparty (4) 46,103 + 11,008 + 46,103 49,505 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 59 - 10 + 25 8 Seasonal credit 65 + 6 + 49 70 Special Liquidity Facility 8 + 2 + 8 7 Extended credit 0 0 0 0 Float 234 - 198 - 472 47 Other F.R. assets 33,353 + 262 - 1,558 32,998 Gold stock 11,049 0 + 9 11,048 Special drawing rights certificate account 7,200 0 - 2,000 7,200 Treasury currency outstanding 27,557 + 2 + 1,375 27,555 Total factors supplying reserve funds 619,385 + 10,648 + 71,524 622,094 Currency in circulation* 580,390 + 7,346 + 73,415 583,745 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 89 - 6 - 11 113 Deposits,other than reserve balances,with F.R.Banks Treasury 5,107 - 233 - 197 5,082 Foreign 211 + 8 + 4 162 Service-related balances and adjustments (5) 7,294 + 132 + 83 7,294 Other 245 - 10 - 118 236 Other F.R. liabilities and capital 18,393 - 44 + 1,589 17,992 Total factors, other than reserve balances, absorbing reserve funds 611,729 + 7,193 + 74,765 614,624 Reserve balances with F.R. Banks (6) 7,656 + 3,455 - 3,241 7,470 On December 1, 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 625,688 million, a change of +$ 13,431 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 $ 16,752 million (daily average over statement week) and $ 16,858 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 16,752 million (daily average) and $ 16,858 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 776 million (daily average) and $ 690 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 $ 218 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 $ 6,924 million and adjustments of $ 370 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 December 1, 1999, option contracts on repurchase agreements were outstanding as follows: $ 113,850 million with exercise dates from December 23, 1999 through December 29, 1999; $ 222,950 million with exercise dates from December 30, 1999 through January 5, 2000; and $ 144,000 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 Dec 1, 1999 Nov 24, 1999 Dec 2, 1998 ASSETS Gold certificate account 11,048 - 1 + 7 Special drawing rights certificate account 7,200 0 - 2,000 Coin 230 - 31 - 147 Loans 85 - 287 - 39 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 49,505 + 8,050 + 49,505 Federal agency obligations (2) Bought outright 181 0 - 187 Held under repurchase agreements 0 0 - 2,967 U.S. government securities (2) Bought outright--Bills 198,841 - 1,061 + 1,988 Notes (3) 213,271 + 5 + 25,383 Bonds (4) 81,362 + 1 + 11,890 Total bought outright (5) 493,474 - 1,055 + 39,261 Held under repurchase agreements (1) 0 0 - 5,020 Total U.S. government securities 493,474 - 1,055 + 34,241 Total loans and securities 543,245 + 6,707 + 80,554 Items in process of collection (652) 8,038 - 166 - 1,219 Bank premises 1,353 + 5 + 59 Other assets (6) 31,552 - 232 - 1,778 TOTAL ASSETS (652) 602,666 + 6,282 + 75,476 LIABILITIES Federal Reserve notes 556,532 + 5,194 + 74,507 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 14,939 + 216 - 1,191 U.S. Treasury--general account 5,082 + 557 + 700 Foreign--official accounts 162 - 9 - 9 Other (0) 236 - 17 - 124 Total deposits (0) 20,420 + 747 - 623 Deferred availability cash items (652) 7,722 + 544 - 147 Other liabilities and accrued dividends (7) 4,457 - 126 + 81 TOTAL LIABILITIES (652) 589,131 + 6,360 + 73,817 CAPITAL ACCOUNTS Capital paid in 6,374 0 + 438 Surplus 5,952 0 + 743 Other capital accounts 1,209 - 78 + 477 *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 $ 172 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 $ 47 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 16,858 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 690 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, December 1, 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 27 11,438 - 4,573 0 0 13,345 0 16 to 90 days 56 103,422 + 3,797 31 0 36,160 0 91 days to 1 year 2 140,670 + 437 20 0 ------ ------ Over 1 to 5 years 122,414 - 721 10 0 ------ ------ Over 5 to 10 years 50,520 + 3 120 0 ------ ------ Over 10 years 65,011 + 2 0 0 ------ ------ Total 85 493,474 - 1,055 181 0 49,505 0 1 Includes $ 5,476 million of inflation-indexed securities valued at the original face amount and $ 218 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 December 1, 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. 7,200 357 2,823 217 348 599 523 637 204 90 203 396 803 Coin 230 6 12 14 14 35 33 27 8 11 17 18 36 Loans 85 4 3 0 0 5 4 11 22 10 23 0 3 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 49,505 0 49,505 0 0 0 0 0 0 0 0 0 0 Federal agency obligations(2) Bought outright 181 9 72 5 10 14 11 17 6 2 5 9 19 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 198,841 10,283 79,187 5,956 11,510 14,959 12,103 18,675 6,541 2,378 5,963 9,908 21,379 Notes (3) 213,271 11,029 84,934 6,388 12,345 16,044 12,982 20,030 7,015 2,551 6,396 10,627 22,930 Bonds (4) 81,362 4,207 32,402 2,437 4,710 6,121 4,952 7,642 2,676 973 2,440 4,054 8,748 Total bought outright(5) 493,474 25,519 196,524 14,780 28,565 37,124 30,037 46,347 16,232 5,902 14,798 24,589 53,057 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 493,474 25,519 196,524 14,780 28,565 37,124 30,037 46,347 16,232 5,902 14,798 24,589 53,057 Total loans and securities 543,245 25,532 246,104 14,786 28,575 37,143 30,052 46,375 16,260 5,914 14,827 24,598 53,080 Items in process of collection 8,690 355 1,043 431 374 550 890 746 409 547 514 337 2,496 Bank premises 1,353 93 163 50 156 124 138 107 32 128 51 146 165 Other assets(5) 31,552 1,415 10,384 895 1,871 4,481 1,992 2,825 778 745 797 1,295 4,074 Interdistrict settlement account 0 + 7,013 -26,629 + 6,224 + 1,252 - 4,324 + 8,883 +17,785 + 4,154 - 4,741 + 2,593 -17,768 + 5,557 TOTAL ASSETS 603,318 35,303 238,336 22,936 33,156 39,442 43,235 69,494 22,182 2,834 19,315 9,596 67,489 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 $ 172 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 $ 47 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 16,858 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 690 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 December 1, 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 556,532 32,715 225,119 21,617 30,078 33,764 39,937 64,992 20,544 1,206 17,690 7,782 61,089 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 14,939 1,341 2,498 420 1,565 1,275 1,079 2,160 849 540 693 748 1,773 U.S. Treasury--general account 5,082 0 5,082 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 236 0 147 0 3 73 1 1 1 2 3 2 2 Total deposits 20,420 1,348 7,773 424 1,578 1,378 1,090 2,175 852 548 699 755 1,799 Deferred credit items 8,374 399 992 325 350 618 961 667 287 530 403 370 2,472 Other liabilities and accrued dividends (2) 4,457 243 1,563 161 266 378 308 426 168 93 164 228 458 TOTAL LIABILITIES 589,783 34,705 235,448 22,527 32,272 36,138 42,296 68,260 21,851 2,377 18,955 9,136 65,818 CAPITAL ACCOUNTS Capital paid in 6,374 289 1,320 199 430 1,642 458 599 158 230 174 213 661 Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972 Other capital accounts 1,209 42 359 33 55 424 63 53 52 25 45 21 38 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 603,318 35,303 238,336 22,936 33,156 39,442 43,235 69,494 22,182 2,834 19,315 9,596 67,489 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 825,329 42,715 327,689 31,122 39,102 55,220 62,322 79,831 26,620 11,446 24,780 36,920 87,562 Less--Held by F.R. Banks 268,797 9,999 102,570 9,506 9,024 21,457 22,385 14,839 6,076 10,240 7,089 29,138 26,473 F.R. notes, net 556,532 32,715 225,119 21,617 30,078 33,764 39,937 64,992 20,544 1,206 17,690 7,782 61,089 Collateral held against F.R. notes Gold certificate account 11,048 Special drawing rights certificate account 7,200 Other eligible assets 0 U.S. govt. and agency securities(3) 538,284 Total collateral 556,532 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.