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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
                                                                                         September 16, 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     Sep 15, 1999  Sep 8, 1999 Sep 16, 1998 Sep 15, 1999

Reserve Bank Credit  (1,2)                                  534,635    +      60    +  47,836      540,499
  U.S. government securities			        		      		     		
    Bought outright-system account (3)                      490,649    +     127    +  47,864      491,129
    Held under repurchase agreements                          1,268    -   1,190    -   6,770        1,335
  Federal agency obligations			        		      		     		
    Bought outright                                             238            0    -     165          238
    Held under repurchase agreements                          8,224    -     163    +   6,495       13,040
  Acceptances                                                     0            0            0            0
  Loans to depository institutions

    Adjustment credit                                            23    +       9    -       4           28
    Seasonal credit                                             268    -       8    +     101          278
    Extended credit                                               0            0            0            0
   Float                                                        967    +     995    +     437        1,260
   Other F.R. assets                                         32,997    +     289    -     123       33,191
Gold stock                                                   11,046    +       1    +       1       11,046
Special drawing rights certificate account                    8,057    -     143    -   1,143        7,200
Treasury currency outstanding                                27,235    +      14    +   1,280       27,235
        Total factors supplying reserve funds               580,972    -      69    +  47,973      585,979
						        		      		     		
Currency in circulation*                                    542,493    +     790    +  48,695      543,383
Treasury cash holdings*                                          87            0    -       5           85
Deposits,other than reserve balances,with F.R.Banks     		      		     		
  Treasury                                                    5,480    +     367    -     389       10,128
  Foreign                                                       229    +      33    +      54          242
  Service-related balances and adjustments (4)                7,120    +      99    +     294        7,120
  Other                                                         269    +      12    -      89          256
Other F.R. liabilities and capital                           18,245    -     337    +   1,247       18,108
        Total factors, other than reserve balances,     		      		     		
        absorbing reserve funds                             573,923    +     963    +  49,806      579,321

Reserve balances with F.R. Banks  (5)                         7,049    -   1,031    -   1,833        6,658
						       		      		     		
On September 15, 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    615,728 million, a change of
 -$  1,798 million for the week.  The total includes the face value of U.S. Treasury strips and other zero
coupon bonds.
1  Net of $     16,758 million daily average, matched sale-purchase transactions outstanding during the
   latest statement week, of which a net of $     16,282 million was with foreign official and international
   accounts.  Includes securities loaned--fully secured by U.S. government securities.
2  Net of $     16,416 million matched sale-purchase transactions outstanding at the end of the latest
   statement week, of which a net of $     16,416 million was with foreign official and international
   accounts.  Includes $        453 million securities loaned--fully secured U.S. government securities.
3  Includes $      5,108 million of inflation-indexed securities valued at the original face amount and
   $        164 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
4  Consists of required clearing balances of $      6,716 million and adjustments of $        404 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
                                                           Sep 15, 1999      Sep 8, 1999     Sep 16, 1998
                ASSETS
Gold certificate account                                        11,046                0        +       1
Special drawing rights certificate account                       7,200        -   1,000        -   2,000
Coin                                                               283                0        -     112
					
Loans                                                              306        +      27        +     103
Acceptances                                                          0                0                0
Federal agency obligations		
  Bought outright                                                  238                0        -     165
  Held under repurchase agreements (1)                          13,040        -     310        +  12,245
U.S. government securities		
  Bought outright--Bills                                       199,283        -     309        +   1,251
                   Notes (2)                                   211,795        +     963        +  32,967
                   Bonds (3)                                    80,051        +       1        +  14,076
    Total bought outright (4)                                  491,129        +     655        +  48,294
  Held under repurchase agreements (1)                           1,335        -   2,095        -   7,771
     Total U.S. government securities                          492,464        -   1,440        +  40,523
       Total loans and securities                              506,048        -   1,724        +  52,706
					
Items in process of collection                      (702)        8,399        -   2,245        +     723
Bank premises                                                    1,333        +       1        +      36
Other assets (5)                                                31,930        +     134        +     111
                TOTAL ASSETS                        (702)      566,238        -   4,835        +  51,464
					
                LIABILITIES
Federal Reserve notes                                          516,516        -     101        +  48,011
Deposits		 		
  Depository institutions                                       13,449        -   8,640        -   2,118
  U.S. Treasury--general account                                10,128        +   5,982        +   3,863
  Foreign--official accounts                                       242        +      26        +      79
    Other                                             (0)          256        -       8        -     101
      Total deposits                                  (0)       24,075        -   2,641        +   1,722
Deferred availability cash items                    (702)        7,539        -   1,962        +     357
Other liabilities and accrued dividends (6)                      4,660        -     130        +     120
                TOTAL LIABILITIES                   (702)      552,790        -   4,834        +  50,210
					
                CAPITAL ACCOUNTS
Capital paid in                                                  6,312        +       4        +     362
Surplus                                                          5,952                0        +     732
Other capital accounts                                           1,184        -       5        +     161

*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 $      3,938 million of inflation-indexed securities valued at the original face amount and
   $        136 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
   $         28 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
4  Net of $     16,416 million matched sale-purchase transactions outstanding at the end of the latest
   statement week.  Includes $        453 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, September 15, 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        198          0     Within 15 days          17,471   +   2,888      8,775   -     310
16 to 90 days         108          0     16 to 90 days          100,885   +      23      4,322   +      30
Over 90 days            0          0     91 days to 1 year      136,787   -   4,354         51   +      10
                                         Over 1 to 5 years      122,347           0         10   -      10
                                         Over 5 to 10 years      50,199   +       2        120   -      30
                                         Over 10 years           64,775   +       1          0           0
    Total             306          0         Total              492,464   -   1,440     13,278   -     310

1  Includes $      5,108 million of inflation-indexed securities valued at the original face amount and
   $        164 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 September 15, 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                      11,046        533      4,433        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                                             283          5         11         15         22         36         36         31         20         13         21         39         35
				
Loans                                            306          0          0          6          0          3         10         77         79         67         47          0         16
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Federal agency obligations	
  Bought outright                                238         12         95          7         14         18         14         22          8          3          7         12         26
  Held under repurchase agreements(1)         13,040          0     13,040          0          0          0          0          0          0          0          0          0          0
U.S. government securities	
  Bought outright--Bills                     199,283     10,306     79,364      5,969     11,535     14,992     12,130     18,717      6,555      2,383      5,976      9,930     21,426
                   Notes (2)                 211,795     10,953     84,346      6,344     12,260     15,933     12,892     19,892      6,967      2,533      6,351     10,553     22,772
                   Bonds (3)                  80,051      4,140     31,880      2,398      4,634      6,022      4,873      7,518      2,633        957      2,401      3,989      8,607
     Total bought outright(4)                491,129     25,398    195,590     14,710     28,429     36,948     29,895     46,127     16,155      5,874     14,728     24,472     52,805
  Held under repurchase agreements(1)          1,335          0      1,335          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             492,464     25,398    196,925     14,710     28,429     36,948     29,895     46,127     16,155      5,874     14,728     24,472     52,805
       Total loans and securities            506,048     25,410    210,060     14,723     28,443     36,968     29,919     46,226     16,242      5,943     14,783     24,484     52,847
				
Items in process of collection                 9,100        454      1,155        352        334        722      1,147        484        623        624        514        313      2,379
Bank premises                                  1,333         93        164         50        156        124        116        107         31        129         52        146        165
Other assets(5)                               31,930      1,443     10,482        973      1,895      4,465      2,029      2,868        795        736        812      1,318      4,114
Interdistrict settlement account                   0    +   130    + 3,594    + 5,773    - 1,067    -10,061    + 3,663    +14,437    + 1,876    - 3,914    + 1,449    -14,273    - 1,606
          TOTAL ASSETS                       566,939     28,425    232,721     22,422     30,696     33,688     38,157     65,782     20,128      3,761     18,145     12,998     60,016

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 $      3,938 million of inflation-indexed securities valued at the original face amount and
   $        136 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
   $         28 million of compensation that adjusts for the effects of inflation on the principal of such
   securities.
4  Net of $     16,416 million matched sale-purchase transactions outstanding at the end of the latest
   statement week.  Includes $        453 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 September 15, 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                        516,516     26,612    212,968     21,180     28,337     28,095     34,866     62,015     18,839      2,351     16,683     11,125     53,445
Deposits			      	
  Depository institutions                     13,449        605      3,574        404        897      1,184      1,163      1,365        450        294        564        813      2,136
  U.S. Treasury--general account              10,128          0     10,128          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                     242          7        126          4         10         30         10         14          3          5          3          6         24
  Other                                          256          0        146          0          2         94          1          1          5          0          2          2          2
    Total deposits                            24,075        612     13,974        409        909      1,308      1,175      1,380        458        299        569        820      2,162
Deferred credit items                          8,240        371        983        274        334        650        926        728        343        601        372        372      2,287
Other liabilities and accrued	      	
  dividends (1)                                4,660        228      1,945        155        250        341        294        401        160         86        156        218        426
    TOTAL LIABILITIES                        553,491     27,823    229,870     22,018     29,830     30,393     37,261     64,524     19,800      3,338     17,780     12,535     58,319
				      	
       CAPITAL ACCOUNTS		      	
Capital paid in                                6,312        289      1,319        194        422      1,631        436        602        157        209        174        211        668
Surplus                                        5,952        267      1,208        177        399      1,238        418        583        121        202        140        227        972
Other capital accounts                         1,184         46        324         34         46        425         42         73         51         12         50         25         57
     TOTAL LIABILITIES AND CAPITAL    	
        ACCOUNTS                             566,939     28,425    232,721     22,422     30,696     33,688     38,157     65,782     20,128      3,761     18,145     12,998     60,016
				      	
FEDERAL RESERVE AGENTS' ACCOUNTS      	
				      	
F.R. notes outstanding                       800,028     36,642    318,013     30,964     38,542     54,303     59,065     78,992     26,191     11,544     25,200     37,398     83,171
  Less--Held by F.R. Banks                   283,512     10,030    105,045      9,784     10,205     26,208     24,199     16,977      7,353      9,192      8,517     26,273     29,727
  F.R. notes, net                            516,516     26,612    212,968     21,180     28,337     28,095     34,866     62,015     18,839      2,351     16,683     11,125     53,445
Collateral held against F.R. notes    	
   Gold certificate account                   11,046
   Special drawing rights	      	
     certificate account                       7,200
   Other eligible assets                           0
   U.S. govt. and agency securities          498,271
     Total collateral                        516,516

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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