H.4.1 Factors Affecting Reserve Balances of Depository Institutions

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. May 4, 2000 H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks 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 May 3, 2000 Apr 26, 2000 May 5, 1999 May 3, 2000 Reserve Bank Credit 568,555 + 4,550 + 48,069 574,324 U.S. government securities (1) Bought outright-system account (2,3) 506,650 - 741 + 33,079 507,137 Held under repurchase agreements 0 0 - 9,155 0 Federal agency obligations (1) Bought outright 140 0 - 171 140 Held under repurchase agreements 0 0 - 2,900 0 Repurchase agreements — triparty (4) 26,499 + 6,022 + 26,499 32,515 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 157 + 76 + 147 46 Seasonal credit 179 + 46 + 112 212 Extended credit 0 0 0 0 Float 236 - 373 - 245 -106 Other F.R. assets 34,694 - 480 + 703 34,379 Gold stock 11,048 0 - 2 11,048 Special drawing rights certificate account 5,200 0 - 3,000 5,200 Treasury currency outstanding 28,659 + 14 + 1,902 28,659 Total factors supplying reserve funds 613,463 + 4,564 + 46,970 619,232 Currency in circulation* 563,907 + 38 + 43,260 564,989 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 203 + 2 + 39 205 Deposits, other than reserve balances, with F.R. Banks Treasury 14,439 + 2,022 + 6,551 8,027 Foreign 127 + 37 - 83 71 Service-related balances and adjustments (5) 6,805 + 2 + 19 6,805 Other 268 - 29 - 3 263 Other F.R. liabilities and capital 18,622 - 619 + 1,369 18,266 Total factors, other than reserve balances, absorbing reserve funds 604,370 + 1,452 + 51,152 598,628 Reserve balances with F.R. Banks (6) 9,092 + 3,111 - 4,183 20,604 On May 3, 2000, the face amount of marketable U.S. government and federal agency securities held in custody by the Federal Reserve Banks for foreign official and international accounts was $ 710,978 million, a change of $ - 2,106 million for the week. The total includes $ 625,144 million of U.S. government securities and $ 85,834 million of federal agency securities. 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 $ 17,157 million (daily average over statement week) and $ 16,674 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 17,157 million (daily average) and $ 16,674 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 2,025 million (daily average) and $ 1,866 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 5,792 million of inflation-indexed securities valued at the original face amount and $ 285 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 $ 6,536 million and adjustments of $ 270 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.

H.4.1(a) Consolidated Statement of Condition of all Federal Reserve Banks Millions of dollars Change Since Eliminations from Consolidation Wednesday Wednesday Wednesday May 3, 2000 Apr 26, 2000 May 5, 1999 ASSETS Gold certificate account 11,048 0 - 1 Special drawing rights certificate account 5,200 0 - 3,000 Coin 553 + 15 + 142 Loans 258 - 27 + 168 Acceptances 0 0 0 Repurchase agreements — triparty (1) 32,515 - 7,265 + 32,515 Federal agency obligations (2) Bought outright 140 0 - 171 Held under repurchase agreements 0 0 - 2,488 U.S. government securities (2) Bought outright—Bills 200,342 - 649 + 1,322 Notes (3) 221,030 + 7 + 21,307 Bonds (4) 85,765 + 3 + 11,034 Total bought outright (5) 507,137 - 639 + 33,663 Held under repurchase agreements 0 0 - 9,705 Total U.S. government securities 507,137 - 639 + 23,958 Total loans and securities 540,050 - 7,931 + 53,983 Items in process of collection (989) 8,110 + 232 - 2,637 Bank premises 1,393 + 5 + 82 Other assets (6) 33,133 - 973 + 462 TOTAL ASSETS (989) 599,488 - 8,651 + 49,032 LIABILITIES Federal Reserve notes 537,088 + 138 + 40,760 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 27,616 + 12,571 + 4,684 U.S. Treasury—general account 8,027 - 21,417 + 3,028 Foreign—official accounts 71 - 8 - 96 Other (0) 263 - 13 - 20 Total deposits (0) 35,978 - 8,866 + 7,598 Deferred availability cash items (989) 8,156 + 717 - 587 Other liabilities and accrued dividends (7) 4,818 - 8 + 407 TOTAL LIABILITIES (989) 586,040 - 8,019 + 48,177 CAPITAL ACCOUNTS Capital paid in 6,755 + 4 + 568 Surplus 6,283 - 148 + 331 Other capital accounts 410 - 488 - 44 1 Cash value of agreements arranged through third-party custodial banks. 2 Face value of the securities. 3 Includes $ 4,254 million of inflation-indexed securities valued at the original face amount and $ 221 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 $ 64 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 16,674 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,866 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. Maturity Distribution of Loans and Securities, May 3, 2000 Millions of dollars U.S. government Federal agency Reverse Repurchase securities (1,2) obligations(2) Repurchase Loans Agreements— Weekly Weekly Agreements— Holdings changes Holdings changes Triparty (3) Triparty (3) Within 15 days 92 17,346 - 2,129 0 0 30,510 0 16 days to 90 days 166 107,052 - 499 0 0 2,005 0 91 days to 1 year 0 137,874 + 2,540 10 0 ——— ——— Over 1 year to 5 years ——— 124,338 - 559 10 0 ——— ——— Over 5 years to 10 years ——— 52,391 + 6 120 0 ——— ——— Over 10 years ——— 68,137 + 2 0 0 ——— ——— Total 258 507,137 - 639 140 0 32,515 0 1 Includes $ 5,792 million of inflation-indexed securities valued at the original face amount and $ 285 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 May 3, 2000 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco ASSETS Gold certificate account 11,04 8 53 5 4,43 0 41 4 52 0 75 0 80 2 1,06 4 35 9 15 8 34 0 51 4 1,162 Special drawing rights certif. acct. 5,20 0 27 1 2,06 5 19 6 24 6 34 6 39 3 50 2 16 7 7 2 15 6 23 2 554 Coin 55 3 1 9 3 6 2 0 2 9 7 5 6 4 6 8 3 4 3 3 4 9 6 1 64 Loans 25 8 1 1 0 0 0 1 0 2 6 4 6 8 4 3 3 4 1 27 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 32,51 5 0 32,51 5 0 0 0 0 0 0 0 0 0 0 Federal agency obligations (2) Bought outright 14 0 8 5 4 6 8 8 9 1 7 5 1 5 4 15 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 200,34 2 11,50 1 77,33 3 8,34 4 11,21 1 11,76 1 13,33 5 23,96 4 7,61 0 84 3 6,67 6 5,92 8 21,835 Notes (3) 221,03 0 12,68 9 85,31 8 9,20 6 12,36 9 12,97 5 14,71 2 26,43 8 8,39 6 93 0 7,36 6 6,54 0 24,090 Bonds (4) 85,76 5 4,92 4 33,10 5 3,57 2 4,79 9 5,03 5 5,70 9 10,25 9 3,25 8 36 1 2,85 8 2,53 8 9,347 Total bought outright (5) 507,13 7 29,11 4 195,75 6 21,12 2 28,38 0 29,77 0 33,75 6 60,66 1 19,26 5 2,13 5 16,90 0 15,00 5 55,273 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 507,13 7 29,11 4 195,75 6 21,12 2 28,38 0 29,77 0 33,75 6 60,66 1 19,26 5 2,13 5 16,90 0 15,00 5 55,273 Total loans and securities 540,05 0 29,13 2 228,32 5 21,12 8 28,38 8 29,78 8 33,76 8 60,74 1 19,33 8 2,17 8 16,93 8 15,01 0 55,314 Items in process of collection 9,09 9 51 0 1,19 8 48 3 32 4 70 6 90 5 62 8 31 6 51 6 55 0 49 4 2,471 Bank premises 1,39 3 9 3 16 3 5 0 15 7 12 4 18 1 10 6 3 3 12 7 5 0 14 5 164 Other assets (6) 33,13 3 1,58 0 11,17 1 1,13 2 1,96 6 5,01 3 2,17 5 3,21 2 98 0 65 9 95 8 1,01 1 3,275 Interdistrict settlement account 0 + 2,15 4 - 75 8 - 74 9 + 3,24 1 + 1,30 8 + 1,96 3 - 26 6 - 34 2 - 46 4 - 86 8 - 4,92 0 - 299 TOTAL ASSETS 600,47 7 34,29 6 246,63 0 22,67 3 34,87 1 38,11 1 40,25 0 66,05 4 20,88 5 3,27 9 18,17 4 12,54 7 62,707 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 $ 4,254 million of inflation-indexed securities valued at the original face amount and $ 221 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 $ 64 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 16,674 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,866 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 May 3, 2000 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco LIABILITIES Federal Reserve notes 537,08 8 31,20 9 224,69 8 21,17 0 30,98 6 30,44 0 35,78 2 59,65 8 19,28 3 1,43 3 16,32 2 10,75 6 55,350 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 27,61 6 1,69 8 7,86 1 43 4 2,27 4 3,29 4 2,19 7 3,94 9 74 7 71 4 83 8 80 1 2,809 U.S. Treasury—general account 8,02 7 0 8,02 7 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 7 1 1 4 7 1 2 8 2 3 1 1 1 1 3 Other 26 3 1 14 0 1 7 10 6 1 1 0 3 1 1 2 Total deposits 35,97 8 1,70 0 16,07 5 43 6 2,28 3 3,40 8 2,20 0 3,95 2 74 8 71 8 84 0 80 4 2,814 Deferred credit items 9,14 5 50 8 1,12 2 44 3 42 6 69 8 95 4 66 7 32 6 54 2 46 0 37 8 2,622 Other liabilities and accrued dividends (2) 4,81 8 28 0 1,66 3 21 3 28 6 34 6 35 5 55 0 19 9 6 9 18 4 17 3 500 TOTAL LIABILITIES 587,02 9 33,69 6 243,55 9 22,26 3 33,98 1 34,89 2 39,29 1 64,82 7 20,55 6 2,76 3 17,80 6 12,11 0 61,285 CAPITAL ACCOUNTS Capital paid in 6,75 5 29 0 1,49 2 20 2 44 4 1,67 5 48 2 61 6 16 0 27 1 18 1 21 7 725 Surplus 6,28 3 28 9 1,32 5 19 9 44 4 1,54 4 46 0 57 8 15 8 23 5 17 9 21 1 660 Other capital accounts 41 0 2 2 25 4 9 2 0 1 7 3 2 1 1 1 0 8 9 36 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 600,47 7 34,29 6 246,63 0 22,67 3 34,87 1 38,11 1 40,25 0 66,05 4 20,88 5 3,27 9 18,17 4 12,54 7 62,707 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 782,35 3 39,99 5 312,83 1 30,69 8 38,94 4 50,66 2 59,96 0 73,72 1 24,86 2 10,52 9 22,98 9 34,55 6 82,607 Less—Held by F.R. Banks 245,26 5 8,78 6 88,13 3 9,52 8 7,95 8 20,22 2 24,17 8 14,06 3 5,57 8 9,09 5 6,66 7 23,80 0 27,257 F.R. notes, net 537,08 8 31,20 9 224,69 8 21,17 0 30,98 6 30,44 0 35,78 2 59,65 8 19,28 3 1,43 3 16,32 2 10,75 6 55,350 Collateral held against F.R. notes Gold certificate account 11,048 Special drawing rights certificate account 5,200 Other eligible assets 0 U.S. govt. and agency securities (3) 520,840 Total collateral 537,088 1 Cash value of agreements arranged through third-party custodial banks. These agreements are collateralized by U.S. government and 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.