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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
                                                                                           October 28, 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     Oct 27, 1999 Oct 20, 1999 Oct 28, 1998 Oct 27, 1999

Reserve Bank Credit                                         543,576    -     890    +  55,403      548,135
  U.S. government securities (1)
    Bought outright-system account (2,3)                    490,711    -     196    +  43,502      492,051
    Held under repurchase agreements                              0            0    -   2,025            0
  Federal agency obligations (1)
    Bought outright                                             194    -       4    -     194          188
    Held under repurchase agreements                              0            0    -   3,457            0
  Repurchase agreements -- triparty (4)                      17,061    -   1,062    +  17,061       20,065
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                            40    +      25    +      27           27
    Seasonal credit                                             191    -      33    +     100          174
    Special Liquidity Facility                                    7    +       6    +       7           10
    Extended credit                                               0            0            0            0
   Float                                                        325    -     230    +      59          278
   Other F.R. assets                                         35,049    +     605    +     325       35,342
Gold stock                                                   11,050            0    +      10       11,050
Special drawing rights certificate account                    7,200            0    -   2,000        7,200
Treasury currency outstanding                                27,410    +      14    +   1,340       27,410
        Total factors supplying reserve funds               589,236    -     875    +  54,754      593,795

Currency in circulation*                                    553,096    +   1,555    +  56,459      555,448
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                          92    -       2    +       2           94
Deposits,other than reserve balances,with F.R.Banks
  Treasury                                                    5,206    -     215    -     120        4,363
  Foreign                                                       180    -       7    -      26          172
  Service-related balances and adjustments (5)                7,065    -      31    +     205        7,065
  Other                                                         260    -      31    -     164          223
Other F.R. liabilities and capital                           18,242    -      90    +   1,054       17,951
        Total factors, other than reserve balances,
        absorbing reserve funds                             584,142    +   1,179    +  57,411      585,317

Reserve balances with F.R. Banks  (6)                         5,094    -   2,054    -   2,657        8,478

On   October 27, 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    608,148 million, a change of
 -$  1,509 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 $     16,688 million (daily average over statement week) and $     15,350 million (outstanding on
   Wednesday statement date) matched sale-purchase transactions, of which $     15,902 million (daily average)
   and $     15,350 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      1,492 million (daily average) and $      1,981 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
   $        189 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 $      6,799 million and adjustments of $        266 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: on   October 27, 1999, option contracts on repurchase agreements were outstanding as follows:
$     23,950 million with exercise dates from December 23, 1999 through December 29, 1999;
$     43,050 million with exercise dates from December 30, 1999 through January 5, 2000; and
$     24,000 million with exercise dates from January 6, 2000 through January 12, 2000.  Further details on these contracts
can be found on the website of the Federal Reserve Bank of New York (http://www.newyorkfed.org/pihome/news/announce).

Worksheet for H.4.1 (a)

CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS
Millions of Dollars
                                                                                    Change Since
                                                  *          Wednesday        Wednesday        Wednesday
                                                           Oct 27, 1999     Oct 20, 1999     Oct 28, 1998
                ASSETS
Gold certificate account                                        11,050                0        +       9
Special drawing rights certificate account                       7,200                0        -   2,000
Coin                                                               317                0        -     141
Loans                                                              211        -      17        +     127
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           20,065        -   3,485        +  20,065
Federal agency obligations (2)
  Bought outright                                                  188        -      10        -     200
  Held under repurchase agreements                                   0                0        -   3,440
U.S. government securities (2)
  Bought outright--Bills                                       200,350        +     681        +   3,772
                   Notes (3)                                   211,272        +       2        +  26,939
                   Bonds (4)                                    80,429        +       1        +  13,374
    Total bought outright (5)                                  492,051        +     684        +  44,085
  Held under repurchase agreements (1)                               0                0        -   2,279
     Total U.S. government securities                          492,051        +     684        +  41,806
       Total loans and securities                              512,515        -   2,828        +  58,358

Items in process of collection                      (713)        6,656        -   1,000        +     258
Bank premises                                                    1,341        -       1        +      46
Other assets (6)                                                33,584        +     359        -      17
                TOTAL ASSETS                        (713)      572,664        -   3,468        +  56,516

                LIABILITIES
Federal Reserve notes                                          528,449        +   2,522        +  55,916
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits
  Depository institutions                                       14,775        -   4,858        +   1,390
  U.S. Treasury--general account                                 4,363        -     562        -   2,019
  Foreign--official accounts                                       172        +       5        -      41
    Other                                             (0)          223        -      88        -     244
      Total deposits                                  (0)       19,533        -   5,502        -     915
Deferred availability cash items                    (713)        6,730        -     449        +     490
Other liabilities and accrued dividends (7)                      4,444        -      19        -      33
                TOTAL LIABILITIES                   (713)      559,156        -   3,448        +  55,459

                CAPITAL ACCOUNTS
Capital paid in                                                  6,354        +      17        +     435
Surplus                                                          5,952                0        +     732
Other capital accounts                                           1,201        -      38        -     110

*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
   $        150 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
   $         38 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
5  Net of $     15,350 million matched sale-purchase transactions outstanding at the end of the latest
   statement week.  Includes securities loans of $      1,981 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,   October 27, 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                      Reverse
                     Loans          securities (1,2)        obligations(2)        Repurchase   Repurchase
                                              Weekly                  Weekly      Agreements   Agreements
                                  Holdings    changes      Holdings    changes    Triparty(3)  Triparty(3)
Within 15 days             181       10,377   -     416            7   -       3        3,505           0
16 to 90 days               29      103,172   +   1,236            6   -       1       16,560           0
91 days to 1 year            2      141,937   -     140           45   -       6     ------      ------
Over 1 to 5 years                   121,201   +       1           10           0     ------      ------
Over 5 to 10 years                   50,211   +       2          120           0     ------      ------
Over 10 years                        65,153   +       1            0           0     ------      ------
                   		 	
Total                      211      492,051   +     684          188   -      10       20,065           0

1  Includes $      5,476 million of inflation-indexed securities valued at the original face amount and
   $        189 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   October 27, 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                      11,050        533      4,437        319        566        834        724        993        337        140        313        575      1,279
Special drawing rights certif. acct.           7,200        357      2,823        217        348        599        523        637        204         90        203        396        803
Coin                                             317          7         16         15         29         46         44         31         17         13         20         38         42

Loans                                            211          0          1          1          0         12         12         45         53         40         42          1          6
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          20,065          0     20,065          0          0          0          0          0          0          0          0          0          0
Federal agency obligations(2)
  Bought outright                                188         10         75          6         11         14         11         18          6          2          6          9         20
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
U.S. government securities(2)
  Bought outright--Bills                     200,350     10,361     79,788      6,001     11,597     15,072     12,195     18,817      6,590      2,396      6,008      9,983     21,541
                   Notes (3)                 211,272     10,926     84,138      6,328     12,229     15,894     12,860     19,843      6,950      2,527      6,336     10,527     22,715
                   Bonds (4)                  80,429      4,159     32,031      2,409      4,656      6,051      4,896      7,554      2,646        962      2,412      4,008      8,647
     Total bought outright(5)                492,051     25,445    195,957     14,738     28,482     37,017     29,951     46,214     16,186      5,885     14,756     24,518     52,904
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             492,051     25,445    195,957     14,738     28,482     37,017     29,951     46,214     16,186      5,885     14,756     24,518     52,904
       Total loans and securities            512,515     25,455    216,098     14,744     28,493     37,043     29,974     46,276     16,244      5,927     14,803     24,527     52,930

Items in process of collection                 7,369        338        874        310        338        424        734        545        355        598        460        342      2,050
Bank premises                                  1,341         93        163         50        156        124        125        107         32        129         51        146        165
Other assets(5)                               33,584      1,532     11,085        961      1,997      4,642      2,130      3,036        856        769        864      1,400      4,312
Interdistrict settlement account                   0    + 3,901    - 2,732    + 5,182    -   487    - 7,106    + 6,278    +15,677    + 2,647    - 5,312    + 1,404    -22,398    + 2,946
          TOTAL ASSETS                       573,377     32,216    232,763     21,799     31,440     36,605     40,533     67,302     20,692      2,353     18,119      5,027     64,528

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  $        150 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  $         38 million
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     15,350 million matched sale-purchase transactions outstanding at the end of the latest statement week.
   Includes securities loans of $      1,981 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   October 27, 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                         528,449     30,404    220,714     20,447     29,107     29,932     37,209     62,803     19,475        552     16,629      3,393     57,786
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits
  Depository institutions                      14,775        621      2,129        453        813      2,334      1,239      2,289        482        747        550        591      2,526
  U.S. Treasury--general account                4,363          0      4,363          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                      172          7         56          4         10         30         10         14          3          5          3          6         24
  Other                                           223          0        141          0          2         67          4          3          0          0          2          3          1
    Total deposits                             19,533        628      6,689        458        825      2,430      1,253      2,306        486        753        555        599      2,551
Deferred credit items                           7,443        339        966        316        335        557        847        528        234        533        409        342      2,037
Other liabilities and accrued
  dividends (2)                                 4,444        242      1,544        162        266        387        310        423        169         90        164        228        458
    TOTAL LIABILITIES                         559,869     31,613    229,913     21,383     30,533     33,306     39,619     66,060     20,363      1,928     17,757      4,563     62,831

       CAPITAL ACCOUNTS
Capital paid in                                 6,354        289      1,319        201        441      1,632        450        599        157        210        174        213        670
Surplus                                         5,952        267      1,208        177        399      1,238        418        583        121        202        140        227        972
Other capital accounts                          1,201         47        323         39         68        429         46         60         51         12         47         25         54
     TOTAL LIABILITIES AND CAPITAL
        ACCOUNTS                              573,377     32,216    232,763     21,799     31,440     36,605     40,533     67,302     20,692      2,353     18,119      5,027     64,528

FEDERAL RESERVE AGENTS' ACCOUNTS

F.R. notes outstanding                        827,758     41,667    329,760     31,344     39,282     55,545     62,073     80,501     26,690     11,551     24,999     37,303     87,044
  Less--Held by F.R. Banks                    299,309     11,263    109,046     10,897     10,175     25,612     24,864     17,698      7,215     10,999      8,371     33,911     29,259
  F.R. notes, net                             528,449     30,404    220,714     20,447     29,107     29,932     37,209     62,803     19,475        552     16,629      3,393     57,786
Collateral held against F.R. notes
   Gold certificate account                    11,050
   Special drawing rights
     certificate account                        7,200
   Other eligible assets                            0
   U.S. govt. and agency securities(3)        510,199
     Total collateral                         528,449

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.`

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