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 January 13, 2000 Millions of dollars daily figures Reserve balances of depository institutions at week ended Wednesday F.R. Banks, Reserve Bank credit, and related items Jan 13, 1999 Jan 12, 2000 Reserve Bank Credit + 89,175 585,637 U.S. government securities (1) Bought outright-system account (2,3) + 30,005 485,719 Held under repurchase agreements 3,820 0 Federal agency obligations (1) Bought outright 157 181 Held under repurchase agreements 3,256 0 Repurchase agreements -- triparty (4) + 67,421 62,895 Acceptances 0 0 Loans to depository institutions Adjustment credit + 159 946 Seasonal credit + 25 32 Special Liquidity Facility + 127 22 Extended credit 0 0 Float 589 367 Other F.R. assets 738 35,474 Gold stock + 2 11,048 Special drawing rights certificate account 3,000 6,200 Treasury currency outstanding + 1,475 27,776 Total factors supplying reserve funds + 87,652 630,661 Currency in circulation* + 87,419 589,557 Averages of Week ended Jan 12, 2000 589,585 484,695 0 181 0 67,421 0 856 31 127 0 1,035 35,241 11,048 6,200 27,776 634,609 598,902 + + + + + Change from Jan 5, 2000 + 47,320 3,833 0 0 0 52,715 0 651 13 75 0 580 271 0 0 14 47,307 26,744

Reverse repurchase agreements -- triparty (4) 0 0 Treasury cash holdings* + 36 121 Deposits,other than reserve balances,with F.R.Banks Treasury 97 5,454 Foreign 115 110 Service-related balances and adjustments (5) + 73 7,966 Other 16 229 Other F.R. liabilities and capital + 1,314 18,019 Total factors, other than reserve balances, absorbing reserve funds + 88,615 621,455 Reserve balances with F.R. Banks 962 9,205 (6)

0 121 5,326 74 7,965 191 18,188 630,768 3,841 + + + -

0 10 15,617 2 99 765 645 42,373 4,934

On January 12, 2000, the face amount of marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts was 627,852 million, a change of -$ 5,650 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 $ 32,451 million (daily average over statement week) and $ 31,427 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 24,194 million (daily average) and $ 21,127 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 488 million (daily average) and $ 289 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 $ 230 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 $ 7,483 million and adjustments of $ 483 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: Of the $ 144,000 million of options contracts on repurchase agreements written with exercise dates from January 6, 2000 through

January 12, 2000, $ 0 million (daily average) and $ 0 million (on January 12) were exercised and are reflected in the repurchase agreement data shown on this release. Further details on these contracts can be found on the website of the Federal Reserve Bank of New York (<A HREF="http://www.newyorkfed.org/pihome/news/announce">http://www.newyorkfed.org/pi home/news/announce</A>). Worksheet for H.4.1 (a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS Millions of Dollars Change Since Wednesday 5, 2000 Wednesday * Wednesday Jan 12, 2000 11,048 6,200 238 1,001 0 62,895 181 0 184,272 218,468 82,979 485,719 0 485,719 549,795 (720) 7,927 1,366 34,096 + + + + Jan

Jan 13, 1999 ASSETS Gold certificate account 0 + 2 Special drawing rights certificate account 0 3,000 Coin 38 148 Loans 821 + 849 Acceptances 0 0 Repurchase agreements -- triparty (1) 28,750 + 62,895 Federal agency obligations (2) Bought outright 0 157 Held under repurchase agreements 0 4,472 U.S. government securities (2) Bought outright--Bills 1,230 - 14,770 Notes (3) 0 + 30,573 Bonds (4) 1 + 13,505 Total bought outright (5) 1,229 + 29,308 Held under repurchase agreements (1) 0 3,700 Total U.S. government securities 1,229 + 25,608 Total loans and securities 29,160 + 84,722 Items in process of collection 432 2,187 Bank premises 0 + 66 Other assets (6) 368 684

29,185

+

TOTAL ASSETS 78,775

(720)

610,672

-

LIABILITIES Federal Reserve notes 26,798 + 77,685 Reverse repurchase agreements -- triparty (1) 0 0 Deposits Depository institutions 7,120 471 U.S. Treasury--general account 9,680 + 448 Foreign--official accounts 28 104 Other 26 + 29 Total deposits 2,508 100 Deferred availability cash items 311 217 Other liabilities and accrued dividends (7) 254 + 321 TOTAL LIABILITIES 29,362 + 77,690 CAPITAL ACCOUNTS Capital paid in 0 + 482 Surplus 0 + 480 Other capital accounts 177 + 123

562,141 0 17,259 5,454 110 (0) (0) (720) 229 23,050 7,461 4,515 (720) 597,168

-

+ + + + -

6,442 6,432 630 +

*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 $ 180 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 $ 50 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 31,427 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 289 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, January 12, 2000 Holdings of securities include securitites held under repurchase agreements, which are classified according to remaining maturity. Millions of dollars Reverse Repurchase Agreements Loans Repurchase Agreements 960 41 0 U.S. government securities (1,2) Weekly Holdings 14,511 88,470 141,191 124,169 51,108 66,271 1,001 485,719 + + changes + 5,176 893 4,840 0 1 1 1,229 Holdings 6 35 10 10 120 0 181 Federal agency obligations(2) Weekly changes + + 6 4 10 0 0 0 0

Triparty(3) Triparty(3) Within 15 days 51,795 0 16 to 90 days 11,100 0 91 days to 1 year ----------Over 1 to 5 years ----------Over 5 to 10 years ----------Over 10 years ----------Total 62,895 0

1 Includes $ 5,476 million of inflation-indexed securities valued at the original face amount and $ 230 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 Millions of dollars Kansas San January 12, 2000

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. 187 299 516 450 341 692 Coin 10 14 45 23 20 36 Loans 1 0 11 7 0 37 Acceptances 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 0 0 0 0 0 0 Federal agency obligations(2) Bought outright 5 10 14 11 9 19 Held under repurchase agreements 0 0 0 0 0 0 U.S. government securities(2) Bought outright--Bills 5,519 10,667 13,863 11,216 9,182 19,812 Notes (3) 6,544 12,646 16,435 13,298 10,886 23,489 Bonds (4) 2,485 4,803 6,242 5,051 4,135 8,922 Total bought outright(5) 14,548 28,116 36,541 29,565 14,566 24,202 52,223 Held under repurchase agreements 0 0 0 0 0 0 Total U.S. govt. securities 14,548 28,116 36,541 29,565 14,566 24,202 52,223 Total loans and securities 14,554 28,126 36,566 29,583 14,594 24,211 52,279 Items in process of collection 339 240 690 1,064 274 2,438 Bank premises 50 158 125 147 146 165 Other assets(5) 1,023 2,024 4,654 2,128 1,394 4,302 Interdistrict settlement account 6,599 + 892 - 2,916 + 7,674

549 32

6,200 238

175 13

307 7

2,431 78 8 13

175 18

1,001 12 0 0 181 17 0 0 6 0 0 62,895 0 16 0

37 6 0 0 0 9 2 0 0 0

850 23 0 62,895 0 72 5 0 0 0

184,272 17,307 218,468 20,519 82,979 7,793 485,719 45,619 0 0

9,529 6,061 11,298 7,186 4,291 2,730 25,118 15,977 0 0

73,385 2,204 87,004 2,613 33,046 992 193,435 5,809 0 0

5,526 6,551 2,488

0

485,719 45,619 549,795 45,648 8,647 1,366 107 34,096 3,024 0 +17,125

25,118 15,977 25,165 16,000 436 93 32 1,534 849

193,435 5,809 257,252 5,817 1,017 484 165 128 11,537 769 51 858

869

283

512

+ 7,402 -30,224 + + 3,906 - 3,808 + 1,817

-13,314 23,081 18,338

+ 4,846 TOTAL ASSETS 32,319 40,513 13,647 66,036

41,794

611,391 68,349

35,476 21,595

246,622 3,622

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 $ 180 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 $ 50 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 31,427 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 289 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 Millions of dollars Kansas San Boston New York St. Louis Minneapolis 32,449 19,936 0 0 1,721 873 0 1 0 874 0 1,723 551 0 1 1 0 136 8,877 529 550 0 5,454 86 1 2 0 3,202 526 0 232,144 2,040 0 0 Total Philadelphia Cleveland Richmond Atlanta Chicago City Dallas Francisco LIABILITIES Federal Reserve notes 562,141 21,462 29,479 33,614 38,638 63,833 16,837 11,980 59,728 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 Deposits Depository institutions 17,259 700 1,331 2,305 904 2,310 676 2,161 U.S. Treasury--general account 5,454 0 0 0 0 0 0 0 Foreign--official accounts 110 1 2 6 2 3 1 5 Other 229 0 4 80 1 1 3 2 Total deposits 23,050 701 1,337 2,392 907 2,314 January 12, 2000

679 2,167 Deferred credit items 341 315 307 2,306 Other liabilities and dividends (2) 164 267 232 459 TOTAL LIABILITIES 22,668 31,398 17,967 13,199

724 accrued 377 37,106 64,660

940

565

8,181

274

454

463

1,055

436

315 40,800

431

4,515

173

244

91

1,598

165

597,888 67,143

34,870 21,257

243,674 3,145

CAPITAL ACCOUNTS Capital paid in 199 445 1,676 482 211 660 Surplus 199 444 1,691 460 211 660 Other capital accounts 15 32 39 51 26 55 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,081 32,319 40,513 41,794 18,338 13,647 66,036 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 30,781 38,750 54,524 61,621 24,431 36,356 87,043 Less--Held by F.R. Banks 9,319 9,272 20,910 22,982 24,376 27,315 F.R. notes, net 21,462 29,479 33,614 38,638 16,837 11,980 59,728 Collateral held against F.R. notes Gold certificate account Special drawing rights certificate account Other eligible assets U.S. govt. and agency securities(3) Total collateral

578 578 49

6,442 6,432

160 158

290 290

236 235

1,325 1,325

179 179

630

19

27

6

297

13

611,391 68,349

35,476 21,595

246,622 3,622

818,717 78,981 256,576 15,148 562,141 63,833 11,048 6,200 0 544,893 562,141

42,645 26,306 10,195 6,370 32,449 19,936

325,976 11,304 93,832 9,264 232,144 2,040 7,593

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.