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Release Date: January 7, 1999
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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
January 7, 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 Jan 6, 1999 Dec 30, 1998 Jan 7, 1998 Jan 6, 1999
Reserve Bank Credit (1,2) 515,752 + 4,794 + 38,848 504,136
U.S. government securities
Bought outright-system account (3) 452,321 - 1,870 + 21,348 455,645
Held under repurchase agreements 14,991 + 3,991 + 5,164 4,507
Federal agency obligations
Bought outright 338 0 - 347 338
Held under repurchase agreements 8,174 + 2,604 + 6,651 3,353
Acceptances 0 0 0 0
Loans to depository institutions
Adjustment credit 24 - 321 - 328 103
Seasonal credit 12 - 8 - 11 6
Extended credit 0 0 0 0
Float 2,783 - 607 + 794 4,320
Other F.R. assets 37,109 + 1,006 + 5,577 35,864
Gold stock 11,046 + 3 - 1 11,046
Special drawing rights certificate account 9,200 0 0 9,200
Treasury currency outstanding 26,216 + 14 + 662 26,216
Total factors supplying reserve funds 562,213 + 4,811 + 39,508 550,598
Currency in circulation* 516,840 + 108 + 36,187 515,122
Treasury cash holdings* 85 0 - 140 85
Deposits,other than reserve balances,with F.R.Banks
Treasury 5,992 - 1,203 + 961 4,960
Foreign 169 - 5 - 75 170
Service-related balances and adjustments (4) 7,044 + 192 + 253 7,045
Other 1,400 + 1,165 + 604 162
Other F.R. liabilities and capital 16,397 - 755 + 761 16,466
Total factors, other than reserve balances,
absorbing reserve funds 547,926 - 499 + 38,551 544,010
Reserve balances with F.R. Banks (5) 14,287 + 5,309 + 958 6,588
On January 6, 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 599,947 million, a change of
+$ 5,871 million for the week. The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1 Net of $ 20,747 million daily average, matched sale-purchase transactions outstanding during the
latest statement week, of which a net of $ 20,319 million was with foreign official and international
accounts. Includes securities loaned--fully secured by U.S. government securities.
2 Net of $ 17,423 million matched sale-purchase transactions outstanding at the end of the latest
statement week, of which a net of $ 17,423 million was with foreign official and international
accounts. Includes $ 180 million securities loaned--fully secured U.S. government securities.
3 Includes $ 3,687 million of inflation-indexed securities valued at the original face amount and
$ 79 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Consists of required clearing balances of $ 6,781 million and adjustments of $ 264 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
Jan 6, 1999 Dec 30, 1998 Jan 7, 1998
ASSETS
Gold certificate account 11,046 0 - 1
Special drawing rights certificate account 9,200 0 0
Coin 353 - 7 - 95
Loans 108 - 1,561 + 82
Acceptances 0 0 0
Federal agency obligations
Bought outright 338 0 - 347
Held under repurchase agreements (1) 3,353 - 4,035 + 2,606
U.S. government securities
Bought outright--Bills 198,277 + 873 + 1,851
Notes (2) 187,895 0 + 13,689
Bonds (3) 69,474 0 + 10,067
Total bought outright (4) 455,645 + 873 + 25,606
Held under repurchase agreements (1) 4,507 - 11,042 + 232
Total U.S. government securities 460,152 - 10,169 + 25,838
Total loans and securities 463,951 - 15,765 + 28,180
Items in process of collection (711) 13,060 + 4,165 + 498
Bank premises 1,300 + 3 + 28
Other assets (5) 34,524 - 1,285 + 4,456
TOTAL ASSETS (711) 533,434 - 12,888 + 33,067
LIABILITIES
Federal Reserve notes 489,345 - 3,179 + 35,598
Deposits
Depository institutions 13,765 - 5,166 - 3,867
U.S. Treasury--general account 4,960 - 5,214 - 620
Foreign--official accounts 170 + 4 + 11
Other (5) 162 - 2 - 37
Total deposits (5) 19,057 - 10,378 - 4,513
Deferred availability cash items (706) 8,566 + 1,160 + 1,252
Other liabilities and accrued dividends (6) 4,089 - 375 - 492
TOTAL LIABILITIES (711) 521,057 - 12,772 + 31,844
CAPITAL ACCOUNTS
Capital paid in 5,960 + 9 + 521
Surplus 5,952 + 706 + 732
Other capital accounts 465 - 831 - 29
*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 $ 2,867 million of inflation-indexed securities valued at the original face amount and
$ 68 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
3 Includes $ 820 million of inflation-indexed securities valued at the original face amount and
$ 11 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Net of $ 17,423 million matched sale-purchase transactions outstanding at the end of the latest
statement week. Includes $ 180 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, January 6, 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 105 0 Within 15 days 17,251 - 6,219 2,628 - 1,407
16 to 90 days 4 0 16 to 90 days 103,709 + 1,951 752 - 2,628
Over 90 days 0 0 91 days to 1 year 130,973 - 6,279 75 0
Over 1 to 5 years 107,730 + 380 61 0
Over 5 to 10 years 44,822 0 175 0
Over 10 years 55,669 + 1 0 0
Total 108 0 Total 460,152 - 10,169 3,691 - 4,035
1 Includes $ 3,687 million of inflation-indexed securities valued at the original face amount and
$ 79 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 January 6, 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 11,046 582 4,206 323 643 807 717 998 358 128 289 530 1,465
Special drawing rights certif. acct. 9,200 530 3,202 282 574 792 602 900 340 123 247 367 1,241
Coin 353 23 14 24 16 53 40 36 18 15 25 40 49
Loans 108 0 0 0 100 0 0 4 2 0 1 0 1
Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal agency obligations
Bought outright 338 18 125 10 22 27 21 32 12 4 9 15 42
Held under repurchase agreements(1) 3,353 0 3,353 0 0 0 0 0 0 0 0 0 0
U.S. government securities
Bought outright--Bills 198,277 10,799 73,489 5,765 12,887 15,619 12,061 19,035 6,968 2,178 5,500 9,015 24,961
Notes (2) 187,895 10,233 69,641 5,463 12,212 14,801 11,430 18,038 6,603 2,064 5,212 8,543 23,654
Bonds (3) 69,474 3,784 25,750 2,020 4,515 5,473 4,226 6,670 2,441 763 1,927 3,159 8,746
Total bought outright(4) 455,645 24,815 168,881 13,247 29,614 35,893 27,717 43,743 16,012 5,006 12,640 20,718 57,360
Held under repurchase agreements(1) 4,507 0 4,507 0 0 0 0 0 0 0 0 0 0
Total U.S. govt. securities 460,152 24,815 173,387 13,247 29,614 35,893 27,717 43,743 16,012 5,006 12,640 20,718 57,360
Total loans and securities 463,951 24,834 176,866 13,257 29,736 35,920 27,738 43,779 16,026 5,009 12,650 20,733 57,403
Items in process of collection 13,771 690 1,451 764 835 860 1,891 1,511 676 875 1,061 598 2,559
Bank premises 1,300 94 158 50 158 125 82 107 31 130 54 148 162
Other assets(5) 34,524 1,657 10,389 1,518 2,106 4,173 2,127 3,125 916 883 829 1,622 5,177
Interdistrict settlement account 0 - 184 + 7,867 + 1,236 - 4,996 + 4,176 + 2,625 - 926 - 1,363 + 572 + 546 + 1,139 -10,693
TOTAL ASSETS 534,145 28,225 204,153 17,455 29,071 46,907 35,823 49,529 17,004 7,737 15,701 25,178 57,363
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 $ 2,867 million of inflation-indexed securities valued at the original face amount and
$ 68 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
3 Includes $ 820 million of inflation-indexed securities valued at the original face amount and
$ 11 million of compensation that adjusts for the effects of inflation on the principal of such
securities.
4 Net of $ 17,423 million matched sale-purchase transactions outstanding at the end of the latest
statement week. Includes $ 180 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 January 6, 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 489,345 26,270 192,656 16,117 26,027 41,430 32,543 45,215 15,696 6,143 14,161 22,860 50,227
Deposits
Depository institutions 13,765 674 1,403 442 1,592 1,764 1,073 1,963 486 360 562 1,210 2,237
U.S. Treasury--general account 4,960 0 4,960 0 0 0 0 0 0 0 0 0 0
Foreign--official accounts 170 7 56 8 9 22 9 54,960 3 7,667 3 7 26
Other 167 1 107 0 4 25 6 1 1 1 16 1 6
Total deposits 19,062 681 6,525 450 1,604 1,811 1,088 1,978 490 366 581 1,218 2,270
Deferred credit items 9,273 486 958 374 349 827 1,054 733 400 739 521 428 2,403
Other liabilities and accrued
dividends (1) 4,089 231 1,399 149 264 327 275 396 162 80 146 198 464
TOTAL LIABILITIES 521,768 27,668 201,538 17,090 28,244 44,394 34,960 48,322 16,747 7,328 15,410 24,704 55,364
CAPITAL ACCOUNTS
Capital paid in 5,960 267 1,214 177 400 1,238 418 584 121 202 140 227 971
Surplus 5,952 267 1,208 177 399 1,238 418 583 121 202 140 227 972
Other capital accounts 465 23 193 12 28 37 27 40 16 4 11 19 56
TOTAL LIABILITIES AND CAPITAL
ACCOUNTS 534,145 28,225 204,153 17,455 29,071 46,907 35,823 49,529 17,004 7,737 15,701 25,178 57,363
FEDERAL RESERVE AGENTS' ACCOUNTS
F.R. notes outstanding 613,734 30,489 239,904 18,459 29,581 50,829 44,354 54,960 18,308 7,667 17,303 33,574 68,306
Less--Held by F.R. Banks 124,390 4,219 47,248 2,342 3,554 9,399 11,811 9,745 2,612 1,524 3,142 10,715 18,079
F.R. notes, net 489,345 26,270 192,656 16,117 26,027 41,430 32,543 45,215 15,696 6,143 14,161 22,860 50,227
Collateral held against F.R. notes
Gold certificate account 11,046
Special drawing rights
certificate account 9,200
Other eligible assets 5,256
U.S. govt. and agency securities 463,843
Total collateral 489,345
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.
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Last update: January 7, 1999