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 25, 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 24, 2000 May 17, 2000 May 26, 1999 May 24, 2000 Reserve Bank Credit 552,640 - 3,763 + 37,469 555,202 U.S. government securities (1) Bought outright-system account (2,3) 507,682 - 671 + 27,374 509,115 Held under repurchase agreements 0 0 - 845 0 Federal agency obligations (1) Bought outright 140 0 - 171 140 Held under repurchase agreements 0 0 - 1,789 0 Repurchase agreements — triparty (4) 11,116 - 3,207 + 11,116 12,530 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 154 + 88 + 146 128 Seasonal credit 324 + 64 + 218 356 Extended credit 0 0 0 0 Float 1,126 + 1,482 + 731 620 Other F.R. assets 32,099 - 1,519 + 690 32,313 Gold stock 11,048 0 0 11,048 Special drawing rights certificate account 5,200 0 - 3,000 5,200 Treasury currency outstanding 28,871 + 14 + 2,026 28,871 Total factors supplying reserve funds 597,760 - 3,749 + 36,497 600,321 Currency in circulation* 564,458 - 261 + 40,668 566,265 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 204 - 1 + 62 183 Deposits, other than reserve balances, with F.R. Banks Treasury 5,114 - 310 + 226 4,942 Foreign 78 - 43 - 173 76 Service-related balances and adjustments (5) 6,788 - 71 - 166 6,788 Other 253 - 1 - 16 249 Other F.R. liabilities and capital 15,339 + 48 - 2,014 15,019 Total factors, other than reserve balances, absorbing reserve funds 592,234 - 639 + 38,588 593,522 Reserve balances with F.R. Banks (6) 5,525 - 3,110 - 2,092 6,799 On May 24, 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 $ 698,862 million, a change of $ - 8,561 million for the week. The total includes $ 614,294 million of U.S. government securities and $ 84,568 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 $ 16,685 million (daily average over statement week) and $ 15,258 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 15,823 million (daily average) and $ 15,258 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,342 million (daily average) and $ 861 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 $ 319 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 $ 6,436 million and adjustments of $ 352 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 24, 2000 May 17, 2000 May 26, 1999 ASSETS Gold certificate account 11,048 0 0 Special drawing rights certificate account 5,200 0 - 3,000 Coin 574 - 14 + 193 Loans 484 + 53 + 365 Acceptances 0 0 0 Repurchase agreements — triparty (1) 12,530 - 2,090 + 12,530 Federal agency obligations (2) Bought outright 140 0 - 171 Held under repurchase agreements 0 0 - 3,522 U.S. government securities (2) Bought outright—Bills 201,758 + 1,187 + 4,699 Notes (3) 222,569 + 9 + 16,444 Bonds (4) 84,788 + 3 + 7,255 Total bought outright (5) 509,115 + 1,199 + 28,397 Held under repurchase agreements 0 0 - 2,476 Total U.S. government securities 509,115 + 1,199 + 25,921 Total loans and securities 522,269 - 838 + 35,124 Items in process of collection (878) 7,179 - 687 + 80 Bank premises 1,394 - 1 + 78 Other assets (6) 30,927 + 366 + 412 TOTAL ASSETS (878) 578,592 - 1,174 + 32,888 LIABILITIES Federal Reserve notes 538,151 + 868 + 38,022 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 13,258 - 1,305 - 2,724 U.S. Treasury—general account 4,942 + 19 - 159 Foreign—official accounts 76 - 50 - 135 Other (0) 249 - 11 + 14 Total deposits (0) 18,524 - 1,348 - 3,005 Deferred availability cash items (878) 6,897 - 705 - 30 Other liabilities and accrued dividends (7) 4,734 - 10 + 549 TOTAL LIABILITIES (878) 568,306 - 1,194 + 35,537 CAPITAL ACCOUNTS Capital paid in 6,777 + 12 + 539 Surplus 2,639 + 45 - 3,313 Other capital accounts 870 - 36 + 125 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 $ 246 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 $ 73 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 15,258 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 861 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 24, 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 454 20,887 + 3,395 0 0 6,130 0 16 days to 90 days 31 108,146 + 2,783 0 0 6,400 0 91 days to 1 year 0 133,902 - 4,990 10 0 ——— ——— Over 1 year to 5 years ——— 125,254 + 1 10 0 ——— ——— Over 5 years to 10 years ——— 53,428 + 6 120 0 ——— ——— Over 10 years ——— 67,497 + 3 0 0 ——— ——— Total 484 509,115 + 1,199 140 0 12,530 0 1 Includes $ 5,792 million of inflation-indexed securities valued at the original face amount and $ 319 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 24, 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 57 4 2 1 4 2 3 2 3 1 7 6 7 1 6 5 3 5 3 2 4 8 6 0 61 Loans 48 4 8 2 2 0 0 1 7 11 5 7 4 8 1 4 6 10 3 27 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 12,53 0 0 12,53 0 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 201,75 8 11,58 3 77,87 9 8,40 3 11,29 1 11,84 4 13,43 0 24,13 3 7,66 4 84 9 6,72 4 5,97 0 21,989 Notes (3) 222,56 9 12,77 7 85,91 2 9,27 0 12,45 5 13,06 5 14,81 5 26,62 3 8,45 5 93 7 7,41 7 6,58 5 24,258 Bonds (4) 84,78 8 4,86 8 32,72 8 3,53 1 4,74 5 4,97 7 5,64 4 10,14 2 3,22 1 35 7 2,82 6 2,50 9 9,241 Total bought outright (5) 509,11 5 29,22 7 196,51 9 21,20 5 28,49 1 29,88 6 33,88 8 60,89 8 19,34 0 2,14 3 16,96 6 15,06 3 55,488 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 509,11 5 29,22 7 196,51 9 21,20 5 28,49 1 29,88 6 33,88 8 60,89 8 19,34 0 2,14 3 16,96 6 15,06 3 55,488 Total loans and securities 522,26 9 29,24 3 209,12 5 21,21 1 28,49 8 29,89 5 33,90 5 61,02 9 19,42 0 2,22 5 17,01 7 15,17 1 55,530 Items in process of collection 8,05 7 50 7 1,05 5 36 0 33 2 53 2 79 6 61 2 36 8 59 9 51 0 25 6 2,130 Bank premises 1,39 4 9 4 16 4 5 0 15 7 12 4 18 2 10 5 3 3 12 7 5 0 14 5 165 Other assets (6) 30,92 7 1,45 7 10,28 8 1,04 4 1,84 3 4,89 2 2,02 7 2,95 0 90 0 64 9 88 8 94 9 3,040 Interdistrict settlement account 0 + 1,35 9 +10,74 7 - 56 4 + 1,35 5 - 55 6 + 64 4 - 3,28 3 - 95 3 - 1,16 8 - 1,18 9 - 5,17 5 - 1,216 TOTAL ASSETS 579,47 0 33,48 7 237,91 6 22,74 2 32,98 3 36,05 9 38,82 0 63,04 4 20,32 9 2,69 5 17,82 0 12,15 1 61,425 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 $ 246 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 $ 73 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 15,258 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 861 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 24, 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 538,15 1 31,21 8 225,97 3 21,48 9 30,89 2 31,20 3 35,82 8 59,06 7 19,11 9 1,44 7 16,26 7 10,77 0 54,878 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 13,25 8 98 2 1,68 4 39 9 82 7 1,50 6 1,06 4 1,86 4 46 8 37 3 73 6 61 8 2,735 U.S. Treasury—general account 4,94 2 0 4,94 2 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 7 6 1 5 2 1 2 8 2 3 1 1 1 1 3 Other 24 9 0 13 8 0 8 9 6 0 1 0 0 3 0 1 Total deposits 18,52 4 98 4 6,81 7 40 0 83 7 1,61 0 1,06 6 1,86 7 46 9 37 4 73 9 62 0 2,739 Deferred credit items 7,77 5 56 3 1,04 0 33 1 30 9 56 2 84 0 62 4 29 4 42 0 35 8 26 0 2,173 Other liabilities and accrued dividends (2) 4,73 4 27 8 1,62 9 21 0 27 3 34 3 35 4 53 7 19 6 6 9 18 1 17 2 492 TOTAL LIABILITIES 569,18 4 33,04 4 235,45 9 22,43 1 32,31 1 33,71 9 38,08 7 62,09 5 20,07 9 2,31 1 17,54 5 11,82 1 60,283 CAPITAL ACCOUNTS Capital paid in 6,77 7 29 0 1,49 9 20 2 45 0 1,67 6 48 4 60 9 16 1 27 3 18 1 22 1 732 Surplus 2,63 9 12 0 55 2 8 3 18 5 66 4 19 2 24 1 6 6 9 8 7 5 8 8 275 Other capital accounts 87 0 3 3 40 6 2 6 3 6 0 5 7 9 9 2 3 1 3 2 0 2 2 135 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 579,47 0 33,48 7 237,91 6 22,74 2 32,98 3 36,05 9 38,82 0 63,04 4 20,32 9 2,69 5 17,82 0 12,15 1 61,425 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 779,18 1 39,49 2 312,25 3 31,08 2 38,53 8 50,57 4 60,05 8 73,04 3 24,66 9 10,40 9 22,74 9 34,37 3 81,940 Less—Held by F.R. Banks 241,03 0 8,27 4 86,28 0 9,59 3 7,64 5 19,37 1 24,23 0 13,97 6 5,55 0 8,96 2 6,48 3 23,60 3 27,062 F.R. notes, net 538,15 1 31,21 8 225,97 3 21,48 9 30,89 2 31,20 3 35,82 8 59,06 7 19,11 9 1,44 7 16,26 7 10,77 0 54,878 Collateral held against F.R. notes Gold certificate account 11,048 Special drawing rights certificate account 5,200 Other eligible assets 118 U.S. govt. and agency securities (3) 521,785 Total collateral 538,151 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.