FEDERAL RESERVE These data are scheduled for release each Thursday.

release will be announced, when the information is available, on (202) 452-3206.

The exact time of each

H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of F.R. Banks April 8, 1999 Millions of dollars daily figures Reserve balances of depository institutions at week ended Wednesday F.R. Banks, Reserve Bank credit, and related items Apr 8, 1998 Apr 7, 1999 Reserve Bank Credit (1,2) + 43,488 512,590 U.S. government securities Bought outright-system account (3) 33,247 467,237 Held under repurchase agreements + 8,134 8,910 Federal agency obligations + Bought outright 314 311 Held under repurchase agreements + 1,791 2,096 Acceptances 0 0 Loans to depository institutions Adjustment credit 29 1,030 Seasonal credit 3 28 Extended credit 0 0 Float 821 177 Other F.R. assets + 1,426 32,802 Gold stock + 2 11,051 Special drawing rights certificate account 1,000 8,200 Treasury currency outstanding + 846 26,523 Total factors supplying reserve funds + 43,336 558,364 + Week ended

Averages of Change from

Apr 7, 1999 Mar 31, 1999 511,083 + 1,547

466,781 9,002

+ +

1,524 1,139

311 2,212 0 -

0 1,175 0

168 27 0 45 32,538 11,051 8,200 26,523 556,857

+ +

124 6 0

+ +

49 119 3 0

+ +

14 1,564

Currency in circulation* + 42,777 520,414 Treasury cash holdings* 126 140 Deposits,other than reserve balances,with F.R.Banks Treasury 600 5,438 Foreign + 75 183 Service-related balances and adjustments (4) 268 6,637 Other 97 304 Other F.R. liabilities and capital + 1,325 17,135 Total factors, other than reserve balances, + + absorbing reserve funds 44,287 550,251 (5)

518,244 135

+

2,611 0

5,644 245 6,637 311 17,188

+ + + +

484 77 180 84 97

548,405 8,452

+ -

3,175 1,611

Reserve balances with F.R. Banks 951 8,114

On April 7, 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 602,719 million, a change of +$ 5,165 million for the week. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Net of $ 17,924 million daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 17,924 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. government securities. 2 Net of $ 17,942 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 17,942 million was with foreign official and international accounts. Includes $ 78 million securities loaned--fully secured U.S. government securities. 3 Includes $ 4,087 million of inflation-indexed securities valued at the original face amount and $ 88 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Consists of required clearing balances of $ 6,445 million and adjustments of $ 192 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 31, 1999 Wednesday * Wednesday Apr 7, 1999 11,051 8,200 424 1,058 0 311 2,096 197,758 195,425 74,055 467,237 8,910 476,147 479,611 (618) 8,303 1,304 31,410 (618) 540,303 + + + + + + + + Mar +

Apr 8, 1998 ASSETS Gold certificate account 2 + 2 Special drawing rights certificate account 0 1,000 Coin 4 86 Loans 812 + 89 Acceptances 0 0 Federal agency obligations Bought outright 0 314 Held under repurchase agreements (1) 3,510 + 1,113 U.S. government securities Bought outright--Bills 999 + 2,555 Notes (2) 457 + 17,619 Bonds (3) 96 + 12,567 Total bought outright (4) 1,551 + 32,740 Held under repurchase agreements (1) 3,820 + 6,885 Total U.S. government securities 2,269 + 39,625 Total loans and securities 4,967 + 40,512 Items in process of collection 1,206 180 Bank premises 1 + 21 Other assets (5) 113 + 1,256 TOTAL ASSETS 3,649 + 40,525 LIABILITIES Federal Reserve notes 2,740 + 42,223 Deposits Depository institutions 7,573 4,636 U.S. Treasury--general account

494,455 14,968 5,438

+ +

64

+ 1,056 Foreign--official accounts 17 + 21 Other 69 94 Total deposits 7,423 3,654 Deferred availability cash items 704 + 805 Other liabilities and accrued dividends (6) 51 382 TOTAL LIABILITIES 3,928 + 38,991 CAPITAL ACCOUNTS Capital paid in 1 + 635 Surplus 8 + 737 Other capital accounts 270 + 162

183 (0) (0) (618) 304 20,893 7,821 4,379 (618) 527,547

+ + + + -

6,123 5,952 681

+ + +

*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 $ 3,267 million of inflation-indexed securities valued at the original face amount and $ 75 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 $ 13 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 17,942 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 78 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, April 7, 1999 Holdings of securities include securitites held under repurchase agreements, which are classified according to remaining maturity.

Millions of dollars Federal agency obligations Weekly Holdings changes Within 15 days 1,033 8,737 2,096 3,510 16 to 90 days 25 2,944 27 0 Over 90 days 0 2,971 79 0 255 296 0 Total 2,269 30 175 0 2,407 0 0 0 1,058 3,510 0 Holdings 0 0 0 Within 15 days 16 to 90 days 91 days to 1 year Over 1 to 5 years Over 5 to 10 years Over 10 years Total 18,048 101,247 137,410 112,518 46,894 60,029 476,147 + + + + Loans Acceptances U.S. government securities (1) Weekly changes

1 Includes $ 4,087 million of inflation-indexed securities valued at the original face amount and $ 88 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 Millions of dollars Kansas San April 7, 1999

Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco ASSETS Gold certificate account 11,051 582 4,211 323 643 807 717 998 358 128 289 530 1,465 Special drawing rights certif. acct. 8,200 406 3,215 247 396 683 596 725 232 103 231 451 915 Coin 424 21 19 50 25 52 43 48 16 25 27 43 55 Loans 0 0 0 1 Acceptances 0 0 0 0 1,058 0 0 7 0 8 0 0 41 0 0 1 2 0 0 993 6 0

Federal agency obligations Bought outright 9 20 24 19 14 39 Held under repurchase agreements(1) 0 0 0 0 0 0 U.S. government securities Bought outright--Bills 5,750 12,853 15,578 12,030 8,992 24,895 Notes (2) 5,682 12,701 15,394 11,888 8,886 24,601 Bonds (3) 2,153 4,813 5,834 4,505 3,367 9,323 Total bought outright(4) 13,584 30,367 36,806 28,422 12,961 21,245 58,819 Held under repurchase agreements(1) 0 0 0 0 0 0 Total U.S. govt. securities 13,584 30,367 36,806 28,422 12,961 21,245 58,819 Total loans and securities 13,593 30,387 36,831 28,448 12,976 21,259 58,859 Items in process of collection 395 378 530 1,071 456 2,343 Bank premises 50 157 125 89 148 164 Other assets(5) 908 1,931 4,389 1,968 1,224 4,230 Interdistrict settlement account 4,725 - 4,746 - 5,335 454 + 1,632 - 6,856 TOTAL ASSETS 20,291 29,172 38,082 32,479 17,228 25,742 61,175

30 0

311 2,096

11 0

17 0

3 0

115 2,096

9 0

197,758 18,985 195,425 18,761 74,055 7,109 467,237 44,856 8,910 0 476,147 44,856 479,611 44,893 8,922 652 106 1,304

10,770 6,949 10,643 6,868 4,033 2,602 25,447 16,419 0 0 25,447 16,419 25,465 16,471 465 331 31 93

73,297 2,173 72,432 2,147 27,448 814 173,177 5,133 8,910 0 182,087 5,133 185,291 5,139 1,141 632 130 158

5,486 5,421 2,054

0

527 53 760

31,410 2,816 + 6,032 0 +

1,444 803

10,229 707

+ 1,134 + 2,021 + 774 - 1,292 + 2,365 29,610 19,016 206,285 5,572

540,922 56,270

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 $ 3,267 million of inflation-indexed securities valued at the original face amount and $ 75 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

$ 13 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Net of $ 17,942 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 78 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 Millions of dollars Kansas San Boston New York St. Louis Minneapolis 27,708 17,720 576 0 0 3 5 492 345 238 168 29,017 18,725 582 489 7 0 1 7,773 534 1,052 615 1,538 86 203,473 5,153 0 5 67 140 8 845 467 193,110 3,918 2,128 529 5,438 0 3 Total Philadelphia Cleveland Richmond Atlanta Chicago City Dallas Francisco LIABILITIES Federal Reserve notes 494,455 19,031 26,333 32,886 28,798 52,077 15,436 23,588 53,850 Deposits Depository institutions 14,968 471 1,319 1,424 1,508 1,967 1,053 2,674 U.S. Treasury--general account 5,438 0 0 0 0 0 0 0 Foreign--official accounts 183 4 10 30 10 14 6 24 Other 304 1 1 143 3 1 1 2 Total deposits 20,893 476 1,330 1,597 1,522 1,982 1,059 2,699 Deferred credit items 8,439 271 388 714 1,007 552 416 2,122 Other liabilities and accrued dividends (1) 4,379 153 276 357 291 413 204 502 TOTAL LIABILITIES 528,166 19,930 28,328 35,555 31,618 55,025 16,901 25,267 59,174 CAPITAL ACCOUNTS Capital paid in 171 401 1,247 6,123 415 598 140 April 7, 1999

485

834

153

285

1,308 210

157

226 966 Surplus 177 399 1,238 418 227 972 Other capital accounts 14 45 42 28 22 63 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 20,291 29,172 38,082 32,479 17,228 25,742 61,175 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 21,707 30,979 51,250 45,185 19,918 34,128 75,198 Less--Held by F.R. Banks 2,677 4,645 18,364 16,387 10,540 21,348 F.R. notes, net 19,031 26,333 32,886 28,798 15,436 23,588 53,850 Collateral held against F.R. notes Gold certificate account Special drawing rights certificate account Other eligible assets U.S. govt. and agency securities Total collateral

583 65

5,952 681

121 30

267 41

1,208 202 296 7 206,285 5,572

140 29

540,922 56,270

29,610 19,016

671,979 64,279 177,524 12,202 494,455 52,077 11,051 8,200 0 475,204 494,455

32,839 21,832 5,131 4,113 27,708 17,720

265,210 9,454 72,099 5,537 193,110 3,918 4,482

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.