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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
                                                                                              June 10, 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      Jun 9, 1999  Jun 2, 1999 Jun 10, 1998  Jun 9, 1999

Reserve Bank Credit  (1,2)                                  519,709    -   4,943    +  47,210      520,447
  U.S. government securities			        		      		     		
    Bought outright-system account (3)                      483,903    +   1,510    +  43,369      484,706
    Held under repurchase agreements                          1,079    -   4,477    +   1,079          425
  Federal agency obligations			        		      		     		
    Bought outright                                             311            0    -     240          311
    Held under repurchase agreements                          2,407    -   1,732    +   2,407        3,106
  Acceptances                                                     0            0            0            0
  Loans to depository institutions

    Adjustment credit                                             4    -       9    -     108            7
    Seasonal credit                                              88    -      17    -      44           93
    Extended credit                                               0            0            0            0
   Float                                                        411    +     414    -     290          136
   Other F.R. assets                                         31,506    -     632    +   1,037       31,664
Gold stock                                                   11,047    -       1    -       1       11,047
Special drawing rights certificate account                    8,200            0    -   1,000        8,200
Treasury currency outstanding                                26,778    +      14    +   1,034       26,778
        Total factors supplying reserve funds               565,734    -   4,930    +  47,243      566,472
						        		      		     		
Currency in circulation*                                    528,859    +     654    +  47,478      529,435
Treasury cash holdings*                                         136    -       8    -      88          112
Deposits,other than reserve balances,with F.R.Banks     		      		     		
  Treasury                                                    4,855    -      42    -     176        4,683
  Foreign                                                       165    -      20    +       3          166
  Service-related balances and adjustments (4)                6,907    +      19    +     319        6,907
  Other                                                         262    +      29    -      74          253
Other F.R. liabilities and capital                           17,430    -      96    +     721       17,362
        Total factors, other than reserve balances,     		      		     		
        absorbing reserve funds                             558,613    +     536    +  48,182      558,918

Reserve balances with F.R. Banks  (5)                         7,121    -   5,465    -     939        7,554
						       		      		     		
On       June 9, 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    598,449 million, a change of
 -$  3,724 million for the week.  The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1  Net of $     17,494 million daily average, matched sale-purchase transactions outstanding during the
   latest statement week, of which a net of $     17,494 million was with foreign official and international
   accounts.  Includes securities loaned--fully secured by U.S. government securities.
2  Net of $     16,695 million matched sale-purchase transactions outstanding at the end of the latest
   statement week, of which a net of $     16,695 million was with foreign official and international
   accounts.  Includes $          0 million securities loaned--fully secured U.S. government securities.
3  Includes $      4,740 million of inflation-indexed securities valued at the original face amount and
   $        126 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
4  Consists of required clearing balances of $      6,624 million and adjustments of $        282 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
                                                            Jun 9, 1999      Jun 2, 1999     Jun 10, 1998
                ASSETS
Gold certificate account                                        11,047        -       1        -       1
Special drawing rights certificate account                       8,200                0        -   1,000
Coin                                                               345        -       3        -      53
					
Loans                                                              100        -      10        -     770
Acceptances                                                          0                0                0
Federal agency obligations		
  Bought outright                                                  311                0        -     240
  Held under repurchase agreements (1)                           3,106        +     239        +   3,106
U.S. government securities		
  Bought outright--Bills                                       199,004        +   2,614        +   2,270
                   Notes (2)                                   207,995        +     886        +  27,404
                   Bonds (3)                                    77,706        +       2        +  15,792
    Total bought outright (4)                                  484,706        +   3,502        +  45,466
  Held under repurchase agreements (1)                             425        -   2,209        +     425
     Total U.S. government securities                          485,131        +   1,293        +  45,891
       Total loans and securities                              488,648        +   1,522        +  47,987
					
Items in process of collection                      (811)        7,833        -   5,220        +     909
Bank premises                                                    1,316        +       1        +      23
Other assets (5)                                                30,366        +      60        +   1,086
                TOTAL ASSETS                        (811)      547,754        -   3,641        +  48,951
					
                LIABILITIES
Federal Reserve notes                                          503,115        -     486        +  45,742
Deposits		 		
  Depository institutions                                       14,804        +     255        +   1,944
  U.S. Treasury--general account                                 4,683        -     296        -     404
  Foreign--official accounts                                       166        -     104        +      14
    Other                                             (0)          253        -      13        -      93
      Total deposits                                  (0)       19,906        -     158        +   1,460
Deferred availability cash items                    (811)        7,371        -   3,248        +   1,043
Other liabilities and accrued dividends (6)                      4,334        +       1        -     487
                TOTAL LIABILITIES                   (811)      534,726        -   3,891        +  47,758
					
                CAPITAL ACCOUNTS
Capital paid in                                                  6,264        +      17        +     475
Surplus                                                          5,952                0        +     732
Other capital accounts                                             811        +     232        -      15

*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 $      3,570 million of inflation-indexed securities valued at the original face amount and
   $        106 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
3  Includes $      1,170 million of inflation-indexed securities valued at the original face amount and
   $         20 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
4  Net of $     16,695 million matched sale-purchase transactions outstanding at the end of the latest
   statement week.  Includes $          0 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,       June 9, 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         24          0     Within 15 days          10,760   -   6,422      3,154   +     239
16 to 90 days          76          0     16 to 90 days          585,970   + 492,203      3,441   +   3,416
Over 90 days            0          0     91 days to 1 year      140,719   +     945         68           0
                                         Over 1 to 5 years      121,098   +       2         20           0
                                         Over 5 to 10 years      49,408   +       4        150           0
                                         Over 10 years           62,617   +       2          0           0
    Total             100          0         Total              485,131   +   1,293      3,417   +     239

1  Includes $      4,740 million of inflation-indexed securities valued at the original face amount and
   $        126 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       June 9, 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                      11,047        533      4,434        319        566        834        724        993        337        140        313        575      1,279
Special drawing rights certif. acct.           8,200        406      3,215        247        396        683        596        725        232        103        231        451        915
Coin                                             345         13         14         43         13         38         41         37         20         24         21         42         39
				
Loans                                            100          2          0          0          0          0          9         14         23         26         16          7          3
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Federal agency obligations	
  Bought outright                                311         16        124          9         18         23         19         29         10          4          9         15         33
  Held under repurchase agreements(1)          3,106          0      3,106          0          0          0          0          0          0          0          0          0          0
U.S. government securities	
  Bought outright--Bills                     199,004     10,291     79,252      5,961     11,519     14,971     12,113     18,691      6,546      2,380      5,968      9,916     21,396
                   Notes (2)                 207,995     10,756     82,833      6,230     12,040     15,647     12,661     19,535      6,842      2,488      6,237     10,364     22,363
                   Bonds (3)                  77,706      4,018     30,946      2,327      4,498      5,846      4,730      7,298      2,556        929      2,330      3,872      8,355
     Total bought outright(4)                484,706     25,066    193,032     14,518     28,057     36,464     29,504     45,524     15,944      5,797     14,535     24,152     52,114
  Held under repurchase agreements(1)            425          0        425          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             485,131     25,066    193,457     14,518     28,057     36,464     29,504     45,524     15,944      5,797     14,535     24,152     52,114
       Total loans and securities            488,648     25,084    196,687     14,527     28,075     36,488     29,532     45,567     15,977      5,826     14,561     24,174     52,151
				
Items in process of collection                 8,644        412      1,061        300        419        685        919        799        424        690        519        466      1,949
Bank premises                                  1,316         93        162         50        157        124         98        106         31        129         52        148        165
Other assets(5)                               30,366      1,384      9,951        932      1,801      4,236      1,930      2,734        760        702        774      1,262      3,900
Interdistrict settlement account                   0    +   656    - 1,834    + 6,608    - 1,742    -10,827    - 1,931    + 8,935    + 2,321    - 3,424    + 2,463    -   823    -   403
          TOTAL ASSETS                       548,565     28,582    213,689     23,025     29,685     32,261     31,907     59,896     20,103      4,192     18,934     26,295     59,995

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 $      3,570 million of inflation-indexed securities valued at the original face amount and
   $        106 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
3  Includes $      1,170 million of inflation-indexed securities valued at the original face amount and
   $         20 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
4  Net of $     16,695 million matched sale-purchase transactions outstanding at the end of the latest
   statement week.  Includes $          0 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       June 9, 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                        503,115     26,497    199,414     21,721     26,876     27,338     28,600     55,612     18,735      2,557     17,450     24,450     53,866
Deposits			      	
  Depository institutions                     14,804        789      4,027        456      1,277      1,179      1,171      2,009        574        466        538        777      1,543
  U.S. Treasury--general account               4,683          0      4,683          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                     166          7         50          4         10         30         10         14          3          5          3          6         24
  Other                                          253          0        140          1          1         91          2          1          1          0          8          2          6
    Total deposits                            19,906        795      8,900        461      1,288      1,300      1,183      2,024        577        471        549        784      1,572
Deferred credit items                          8,182        462      1,008        266        419        638        942        611        322        638        433        381      2,061
Other liabilities and accrued	      	
  dividends (1)                                4,334        231      1,539        159        258        357        298        413        162         88        160        221        449
    TOTAL LIABILITIES                        535,537     27,986    210,862     22,606     28,841     29,633     31,023     58,660     19,796      3,754     18,592     25,837     57,948
				      	
       CAPITAL ACCOUNTS		      	
Capital paid in                                6,264        285      1,312        202        407      1,301        433        590        148        217        164        208        997
Surplus                                        5,952        267      1,208        177        399      1,238        418        583        121        202        140        227        972
Other capital accounts                           811         44        307         40         39         90         33         63         37         19         38         23         79
     TOTAL LIABILITIES AND CAPITAL    	
        ACCOUNTS                             548,565     28,582    213,689     23,025     29,685     32,261     31,907     59,896     20,103      4,192     18,934     26,295     59,995
				      	
FEDERAL RESERVE AGENTS' ACCOUNTS      	
				      	
F.R. notes outstanding                       716,340     32,078    286,097     25,478     33,048     51,242     48,114     68,708     23,944     11,215     23,730     36,128     76,558
  Less--Held by F.R. Banks                   213,225      5,581     86,683      3,758      6,172     23,904     19,514     13,096      5,209      8,659      6,280     11,678     22,692
  F.R. notes, net                            503,115     26,497    199,414     21,721     26,876     27,338     28,600     55,612     18,735      2,557     17,450     24,450     53,866
Collateral held against F.R. notes    	
   Gold certificate account                   11,047
   Special drawing rights	      	
     certificate account                       8,200
   Other eligible assets                           0
   U.S. govt. and agency securities          483,868
     Total collateral                        503,115

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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