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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 21, 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 20, 1999 Oct 13, 1999 Oct 21, 1998 Oct 20, 1999

Reserve Bank Credit                                         544,461    +   3,243    +  53,625      550,307
  U.S. government securities (1)
    Bought outright-system account (2,3)                    490,907    -     137    +  43,618      491,367
    Held under repurchase agreements                              0            0    -   4,096            0
  Federal agency obligations (1)
    Bought outright                                             198    -      21    -     190          198
    Held under repurchase agreements                              0            0    -   4,415            0
  Repurchase agreements -- triparty (4)                      18,123    +   3,464    +  18,123       23,550
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                            15    -      11    +      11           14
    Seasonal credit                                             224    -      39    +     125          209
    Special Liquidity Facility                                    1    +       1    +       1            6
    Extended credit                                               0            0            0            0
   Float                                                        552    -     228    +     730          352
   Other F.R. assets                                         34,442    +     216    -     281       34,613
Gold stock                                                   11,050    -       1    +       6       11,050
Special drawing rights certificate account                    7,200            0    -   2,000        7,200
Treasury currency outstanding                                27,396    +      14    +   1,346       27,396
        Total factors supplying reserve funds               590,107    +   3,256    +  52,977      595,953

Currency in circulation*                                    551,541    +   1,733    +  54,337      552,914
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                          94    -       3    +       2           92
Deposits,other than reserve balances,with F.R.Banks
  Treasury                                                    5,421    +     186    +      99        4,925
  Foreign                                                       187    -      15    -      22          167
  Service-related balances and adjustments (5)                7,096    +      16    +     143        7,096
  Other                                                         291    -      28    -     117          311
Other F.R. liabilities and capital                           18,332    +     137    +   1,114       17,991
        Total factors, other than reserve balances,
        absorbing reserve funds                             582,963    +   2,028    +  55,558      583,496

Reserve balances with F.R. Banks  (6)                         7,144    +   1,228    -   2,581       12,457

On   October 20, 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    609,657 million, a change of
 -$  1,978 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 $     16,513 million (daily average over statement week) and $     16,031 million (outstanding on
   Wednesday statement date) matched sale-purchase transactions, of which $     16,371 million (daily average)
   and $     16,031 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      1,202 million (daily average) and $        580 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
   $        186 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 $      6,841 million and adjustments of $        255 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 20, 1999, option contracts on repurchase agreements were outstanding as follows:
$     11,950 million with exercise dates from December 23, 1999 through December 29, 1999;
$     18,050 million with exercise dates from December 30, 1999 through January 5, 2000; and
$     12,000 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 20, 1999     Oct 13, 1999     Oct 21, 1998
                ASSETS
Gold certificate account                                        11,050        -       1        +       6
Special drawing rights certificate account                       7,200                0        -   2,000
Coin                                                               317        +      13        -      96
Loans                                                              228        -      33        +     133
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           23,550        +   8,030        +  23,550
Federal agency obligations (2)
  Bought outright                                                  198                0        -     190
  Held under repurchase agreements                                   0                0        -   5,488
U.S. government securities (2)
  Bought outright--Bills                                       199,669        +     246        +   2,282
                   Notes (3)                                   211,270        -     536        +  27,679
                   Bonds (4)                                    80,428        +     374        +  13,373
    Total bought outright (5)                                  491,367        +      85        +  43,335
  Held under repurchase agreements (1)                               0                0        -   4,115
     Total U.S. government securities                          491,367        +      85        +  39,220
       Total loans and securities                              515,343        +   8,082        +  57,226

Items in process of collection                      (482)        7,656        -   6,221        +     691
Bank premises                                                    1,342        +       1        +      46
Other assets (6)                                                33,225        +     176        +      47
                TOTAL ASSETS                        (482)      576,132        +   2,048        +  55,919

                LIABILITIES
Federal Reserve notes                                          525,927        +   1,384        +  53,866
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits
  Depository institutions                                       19,633        +   4,209        +     860
  U.S. Treasury--general account                                 4,925        -      23        +      83
  Foreign--official accounts                                       167        -     117        -      10
    Other                                             (7)          311        +      41        -      87
      Total deposits                                  (7)       25,035        +   4,108        +     845
Deferred availability cash items                    (475)        7,179        -   3,660        +     242
Other liabilities and accrued dividends (7)                      4,463        +     201        -     125
                TOTAL LIABILITIES                   (482)      562,604        +   2,034        +  54,828

                CAPITAL ACCOUNTS
Capital paid in                                                  6,337        +       1        +     421
Surplus                                                          5,952                0        +     732
Other capital accounts                                           1,239        +      14        -      61

*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
   $        148 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 $     16,031 million matched sale-purchase transactions outstanding at the end of the latest
   statement week.  Includes securities loans of $        580 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 20, 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             197       10,793   -   4,185           10           0        6,990           0
16 to 90 days               30      101,936   -     387            7           0       16,560           0
91 days to 1 year            1      142,077   +   4,281           51           0     ------      ------
Over 1 to 5 years                   121,200           0           10           0     ------      ------
Over 5 to 10 years                   50,209   +       2          120           0     ------      ------
Over 10 years                        65,152   +     374            0           0     ------      ------
                   		 	
Total                      228      491,367   +      85          198           0       23,550           0

1  Includes $      5,476 million of inflation-indexed securities valued at the original face amount and
   $        186 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 20, 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          9         16         16         25         45         41         35         19         13         20         36         41

Loans                                            228          0          0          1          0          5          9         42         69         48         48          1          3
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          23,550          0     23,550          0          0          0          0          0          0          0          0          0          0
Federal agency obligations(2)
  Bought outright                                198         10         79          6         11         15         12         19          7          2          6         10         21
  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                     199,669     10,325     79,517      5,980     11,558     15,021     12,154     18,753      6,568      2,388      5,988      9,949     21,468
                   Notes (3)                 211,270     10,925     84,137      6,328     12,229     15,894     12,860     19,843      6,950      2,527      6,336     10,527     22,715
                   Bonds (4)                  80,428      4,159     32,030      2,409      4,656      6,051      4,896      7,554      2,646        962      2,412      4,008      8,647
     Total bought outright(5)                491,367     25,410    195,685     14,717     28,443     36,965     29,909     46,149     16,163      5,877     14,735     24,483     52,830
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             491,367     25,410    195,685     14,717     28,443     36,965     29,909     46,149     16,163      5,877     14,735     24,483     52,830
       Total loans and securities            515,343     25,420    219,313     14,725     28,454     36,985     29,930     46,210     16,239      5,927     14,790     24,495     52,854

Items in process of collection                 8,137        426        903        426        313        495        834        630        444        646        484        280      2,257
Bank premises                                  1,342         93        164         50        156        124        125        107         32        129         51        146        165
Other assets(5)                               33,225      1,512     10,924        983      1,977      4,614      2,106      2,999        839        765        852      1,384      4,270
Interdistrict settlement account                   0    + 4,645    -   689    + 5,015    -    65    - 8,711    + 5,519    +15,961    + 2,546    - 5,545    + 1,233    -21,360    + 1,450
          TOTAL ASSETS                       576,614     32,995    237,892     21,752     31,774     34,986     39,803     67,572     20,659      2,166     17,947      5,951     63,119

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  $        148 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 $     16,031 million matched sale-purchase transactions outstanding at the end of the latest statement week.
   Includes securities loans of $        580 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 20, 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                         525,927     30,133    221,278     20,313     29,057     29,403     36,354     62,967     19,296        457     16,507      3,197     56,965
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits
  Depository institutions                      19,633      1,639      6,109        560      1,237      1,208      1,334      2,283        585        571        524      1,752      1,832
  U.S. Treasury--general account                4,925          0      4,925          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                      167          7         51          4         10         30         10         14          3          5          3          6         24
  Other                                           318          0        167          0          2        113         16          1         11          1          2          3          2
    Total deposits                             25,042      1,646     11,252        564      1,249      1,351      1,360      2,298        599        577        529      1,760      1,857
Deferred credit items                           7,653        367        924        295        297        565        874        632        262        614        382        300      2,142
Other liabilities and accrued
  dividends (2)                                 4,463        245      1,563        163        266        375        310        427        169         93        164        230        459
    TOTAL LIABILITIES                         563,086     32,391    235,016     21,335     30,868     31,695     38,898     66,324     20,326      1,741     17,581      5,487     61,423

       CAPITAL ACCOUNTS
Capital paid in                                 6,337        289      1,319        201        441      1,632        436        597        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                          1,239         48        349         39         67        422         50         68         54         13         51         25         54
     TOTAL LIABILITIES AND CAPITAL
        ACCOUNTS                              576,614     32,995    237,892     21,752     31,774     34,986     39,803     67,572     20,659      2,166     17,947      5,951     63,119

FEDERAL RESERVE AGENTS' ACCOUNTS

F.R. notes outstanding                        828,391     41,614    330,773     31,253     39,451     55,521     61,517     80,949     26,670     11,551     25,066     37,319     86,708
  Less--Held by F.R. Banks                    302,464     11,481    109,495     10,940     10,394     26,117     25,163     17,982      7,374     11,094      8,560     34,122     29,743
  F.R. notes, net                             525,927     30,133    221,278     20,313     29,057     29,403     36,354     62,967     19,296        457     16,507      3,197     56,965
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)        507,677
     Total collateral                         525,927

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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