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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
                                                                                             April 22, 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     Apr 21, 1999 Apr 14, 1999 Apr 22, 1998 Apr 21, 1999

Reserve Bank Credit  (1,2)                                  513,586    +   1,664    +  37,463      514,262
  U.S. government securities			        		      		     		
    Bought outright-system account (3)                      470,563    +     896    +  29,961      470,506
    Held under repurchase agreements                          6,685    +     189    +   4,347        5,880
  Federal agency obligations			        		      		     		
    Bought outright                                             311            0    -     254          311
    Held under repurchase agreements                          2,022    +     362    +   1,335        1,334
  Acceptances                                                     0            0            0            0
  Loans to depository institutions

    Adjustment credit                                           199    +     167    +     185        1,367
    Seasonal credit                                              36    +       6    -       7           41
    Extended credit                                               0            0            0            0
   Float                                                        130    -     161    -     178        1,078
   Other F.R. assets                                         33,640    +     205    +   2,074       33,746
Gold stock                                                   11,049    -       1            0       11,049
Special drawing rights certificate account                    8,200            0    -   1,000        8,200
Treasury currency outstanding                                26,606    +      14    +     905       26,606
        Total factors supplying reserve funds               559,441    +   1,677    +  37,368      560,117
						        		      		     		
Currency in circulation*                                    519,558    -     331    +  42,733      520,296
Treasury cash holdings*                                         145    +       4    -     132          145
Deposits,other than reserve balances,with F.R.Banks     		      		     		
  Treasury                                                    6,790    +   1,937    -   1,104        6,690
  Foreign                                                       215    +      27    +      30          193
  Service-related balances and adjustments (4)                6,717    +      46    -     142        6,718
  Other                                                         283    -      22    -      66          240
Other F.R. liabilities and capital                           17,269    -      53    +     941       17,007
        Total factors, other than reserve balances,     		      		     		
        absorbing reserve funds                             550,977    +   1,608    +  42,259      551,289

Reserve balances with F.R. Banks  (5)                         8,464    +      68    -   4,892        8,828
						       		      		     		
On     April 21, 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    596,243 million, a change of
 -$  5,027 million for the week.  The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1  Net of $     16,421 million daily average, matched sale-purchase transactions outstanding during the
   latest statement week, of which a net of $     16,421 million was with foreign official and international
   accounts.  Includes securities loaned--fully secured by U.S. government securities.
2  Net of $     16,981 million matched sale-purchase transactions outstanding at the end of the latest
   statement week, of which a net of $     16,981 million was with foreign official and international
   accounts.  Includes $          0 million securities loaned--fully secured U.S. government securities.
3  Includes $      4,437 million of inflation-indexed securities valued at the original face amount and
   $         91 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
4  Consists of required clearing balances of $      6,456 million and adjustments of $        261 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
                                                           Apr 21, 1999     Apr 14, 1999     Apr 22, 1998
                ASSETS
Gold certificate account                                        11,049        +       1                0
Special drawing rights certificate account                       8,200                0        -   1,000
Coin                                                               415        +       7        -      57
					
Loans                                                            1,408        +   1,301        +   1,265
Acceptances                                                          0                0                0
Federal agency obligations		
  Bought outright                                                  311                0        -     254
  Held under repurchase agreements (1)                           1,334                0        -   1,283
U.S. government securities		
  Bought outright--Bills                                       198,718        -     882        -     607
                   Notes (2)                                   197,120        -     373        +  16,535
                   Bonds (3)                                    74,667        +     350        +  12,754
    Total bought outright (4)                                  470,506        -     903        +  28,682
  Held under repurchase agreements (1)                           5,880                0        -   4,345
     Total U.S. government securities                          476,386        -     903        +  24,337
       Total loans and securities                              479,439        +     398        +  24,066
					
Items in process of collection                      (488)        9,065        +   1,155        +   1,743
Bank premises                                                    1,309        +       1        +      24
Other assets (5)                                                32,368        +     118        +   1,060
                TOTAL ASSETS                        (488)      541,845        +   1,680        +  25,837
					
                LIABILITIES
Federal Reserve notes                                          494,250        -     548        +  42,025
Deposits		 		
  Depository institutions                                       15,283        -     459        -  11,780
  U.S. Treasury--general account                                 6,690        +   2,533        -   6,260
  Foreign--official accounts                                       193        +       2        +      31
    Other                                             (0)          240        -      66        -     110
      Total deposits                                  (0)       22,406        +   2,010        -  18,119
Deferred availability cash items                    (488)        8,182        +     251        +   1,081
Other liabilities and accrued dividends (6)                      4,184        -      55        -     623
                TOTAL LIABILITIES                   (488)      529,023        +   1,658        +  24,364
					
                CAPITAL ACCOUNTS
Capital paid in                                                  6,166        -       6        +     693
Surplus                                                          5,952                0        +     732
Other capital accounts                                             704        +      27        +      48

*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
   $         77 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
   $         14 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
4  Net of $     16,981 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,     April 21, 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      1,406          0     Within 15 days          20,105   -     291      1,334           0
16 to 90 days           2          0     16 to 90 days           96,179   -   1,692         32           0
Over 90 days            0          0     91 days to 1 year      138,454   +     394         84           0
                                         Over 1 to 5 years      113,786   +     335         20           0
                                         Over 5 to 10 years      47,221   +       1        175           0
                                         Over 10 years           60,642   +     350          0           0
    Total           1,408          0         Total              476,386   -     903      1,645           0

1  Includes $      4,437 million of inflation-indexed securities valued at the original face amount and
   $         91 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     April 21, 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                      11,049        533      4,436        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                                             415         23         19         52         22         50         38         50         18         27         25         40         51
				
Loans                                          1,408          2        199          1         91         90        142        505         15          7          7          0        350
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)          1,334          0      1,334          0          0          0          0          0          0          0          0          0          0
U.S. government securities	
  Bought outright--Bills                     198,718     10,276     79,139      5,952     11,503     14,950     12,096     18,664      6,537      2,377      5,959      9,902     21,366
                   Notes (2)                 197,120     10,194     78,502      5,904     11,410     14,829     11,999     18,514      6,484      2,358      5,911      9,822     21,194
                   Bonds (3)                  74,667      3,861     29,736      2,236      4,322      5,617      4,545      7,013      2,456        893      2,239      3,720      8,028
     Total bought outright(4)                470,506     24,331    187,377     14,092     27,235     35,396     28,639     44,190     15,477      5,627     14,110     23,444     50,587
  Held under repurchase agreements(1)          5,880          0      5,880          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             476,386     24,331    193,257     14,092     27,235     35,396     28,639     44,190     15,477      5,627     14,110     23,444     50,587
       Total loans and securities            479,439     24,349    194,913     14,103     27,344     35,509     28,800     44,724     15,502      5,638     14,126     23,459     50,971
				
Items in process of collection                 9,553        576      1,040        400        394        714        981        840        363        602        485        796      2,362
Bank premises                                  1,309         93        160         50        157        125         89        107         31        130         53        148        164
Other assets(5)                               32,368      1,444     11,182        903      1,881      4,393      2,005      2,850        797        727        810      1,316      4,058
Interdistrict settlement account                   0    + 2,041    - 4,733    + 4,724    - 2,534    - 7,461    - 1,926    + 8,920    + 2,063    - 2,289    + 1,724    - 1,151    +   622
          TOTAL ASSETS                       542,333     29,465    210,234     20,797     28,227     34,848     31,308     59,209     19,343      5,077     17,767     25,635     60,422

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
   $         77 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
   $         14 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
4  Net of $     16,981 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     April 21, 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                        494,250     27,433    196,179     19,485     25,724     30,016     27,625     54,301     17,664      3,474     16,112     23,298     52,941
Deposits			      	
  Depository institutions                     15,283        684      1,862        452      1,003      1,211      1,518      2,683        895        492        701        991      2,792
  U.S. Treasury--general account               6,690          0      6,690          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                     193          7         77          4         10         30         10         14          3          5          3          6         24
  Other                                          240          0        141          1          2         79          5          1          1          1          7          1          2
    Total deposits                            22,406        691      8,770        457      1,015      1,320      1,533      2,698        899        498        712        997      2,817
Deferred credit items                          8,670        525        973        302        414        648      1,007        574        327        590        458        650      2,202
Other liabilities and accrued	      	
  dividends (1)                                4,184        223      1,473        154        251        336        285        395        159         91        154        216        447
    TOTAL LIABILITIES                        529,510     28,872    207,394     20,398     27,404     32,319     30,449     57,969     19,048      4,653     17,436     25,161     58,407
				      	
       CAPITAL ACCOUNTS		      	
Capital paid in                                6,166        285      1,308        202        394      1,249        415        598        140        210        158        226        983
Surplus                                        5,952        267      1,208        177        399      1,238        418        583        121        202        140        227        972
Other capital accounts                           704         41        323         21         31         42         26         60         34         12         32         20         61
     TOTAL LIABILITIES AND CAPITAL    	
        ACCOUNTS                             542,333     29,465    210,234     20,797     28,227     34,848     31,308     59,209     19,343      5,077     17,767     25,635     60,422
				      	
FEDERAL RESERVE AGENTS' ACCOUNTS      	
				      	
F.R. notes outstanding                       681,449     32,691    270,316     22,257     31,102     51,220     45,133     66,687     21,887     10,099     20,689     34,402     74,965
  Less--Held by F.R. Banks                   187,199      5,258     74,137      2,772      5,378     21,204     17,509     12,386      4,223      6,625      4,577     11,105     22,024
  F.R. notes, net                            494,250     27,433    196,179     19,485     25,724     30,016     27,625     54,301     17,664      3,474     16,112     23,298     52,941
Collateral held against F.R. notes    	
   Gold certificate account                   11,049
   Special drawing rights	      	
     certificate account                       8,200
   Other eligible assets                           0
   U.S. govt. and agency securities          475,001
     Total collateral                        494,250

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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