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. June 1, 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 31, 2000 May 24, 2000 Jun 2, 1999 May 31, 2000 Reserve Bank Credit 560,269 + 7,628 + 35,630 566,917 U.S. government securities (1) Bought outright-system account (2,3) 506,191 - 1,491 + 23,798 506,744 Held under repurchase agreements 0 0 - 5,556 0 Federal agency obligations (1) Bought outright 140 0 - 171 140 Held under repurchase agreements 0 0 - 4,139 0 Repurchase agreements — triparty (4) 20,913 + 9,797 + 20,913 26,395 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 46 - 108 + 33 88 Seasonal credit 356 + 32 + 251 344 Extended credit 0 0 0 0 Float 182 - 944 + 198 826 Other F.R. assets 32,442 + 343 + 304 32,381 Gold stock 11,048 0 0 11,048 Special drawing rights certificate account 5,200 0 - 3,000 5,200 Treasury currency outstanding 28,885 + 14 + 2,011 28,885 Total factors supplying reserve funds 605,403 + 7,643 + 34,642 612,050 Currency in circulation* 568,033 + 3,575 + 39,718 569,735 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 177 - 27 + 33 140 Deposits, other than reserve balances, with F.R. Banks Treasury 4,880 - 234 - 17 5,445 Foreign 82 + 4 - 103 110 Service-related balances and adjustments (5) 6,746 - 42 - 136 6,746 Other 217 - 36 - 16 226 Other F.R. liabilities and capital 15,356 + 17 - 2,170 15,271 Total factors, other than reserve balances, absorbing reserve funds 595,492 + 3,258 + 37,310 597,674 Reserve balances with F.R. Banks (6) 9,911 + 4,385 - 2,668 14,376 On May 31, 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 $ 699,182 million, a change of $ + 320 million for the week. The total includes $ 613,449 million of U.S. government securities and $ 85,733 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 $ 16,040 million (daily average over statement week) and $ 16,397 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 16,040 million (daily average) and $ 16,397 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 2,289 million (daily average) and $ 4,436 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 $ 330 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 $ 310 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 31, 2000 May 24, 2000 Jun 2, 1999 ASSETS Gold certificate account 11,048 0 0 Special drawing rights certificate account 5,200 0 - 3,000 Coin 599 + 25 + 251 Loans 431 - 53 + 321 Acceptances 0 0 0 Repurchase agreements — triparty (1) 26,395 + 13,865 + 26,395 Federal agency obligations (2) Bought outright 140 0 - 171 Held under repurchase agreements 0 0 - 2,867 U.S. government securities (2) Bought outright—Bills 198,323 - 3,435 + 1,933 Notes (3) 223,631 + 1,062 + 16,522 Bonds (4) 84,791 + 3 + 7,087 Total bought outright (5) 506,744 - 2,371 + 25,540 Held under repurchase agreements 0 0 - 2,634 Total U.S. government securities 506,744 - 2,371 + 22,906 Total loans and securities 533,710 + 11,441 + 46,584 Items in process of collection (851) 11,985 + 4,806 - 1,068 Bank premises 1,400 + 6 + 85 Other assets (6) 30,953 + 26 + 647 TOTAL ASSETS (851) 594,896 + 16,304 + 43,501 LIABILITIES Federal Reserve notes 541,590 + 3,439 + 37,989 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 21,634 + 8,376 + 7,085 U.S. Treasury—general account 5,445 + 503 + 466 Foreign—official accounts 110 + 34 - 160 Other (81) 226 - 23 - 40 Total deposits (81) 27,416 + 8,892 + 7,352 Deferred availability cash items (770) 10,619 + 3,722 0 Other liabilities and accrued dividends (7) 4,752 + 18 + 419 TOTAL LIABILITIES (851) 584,377 + 16,071 + 45,760 CAPITAL ACCOUNTS Capital paid in 6,781 + 4 + 534 Surplus 2,679 + 40 - 3,273 Other capital accounts 1,058 + 188 + 479 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 $ 254 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 $ 76 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 16,397 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 4,436 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 31, 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 311 15,491 - 5,396 0 0 19,895 0 16 days to 90 days 120 105,584 - 2,562 0 0 6,500 0 91 days to 1 year 0 139,209 + 5,307 10 0 ——— ——— Over 1 year to 5 years ——— 125,525 + 271 10 0 ——— ——— Over 5 years to 10 years ——— 53,435 + 7 120 0 ——— ——— Over 10 years ——— 67,500 + 3 0 0 ——— ——— Total 431 506,744 - 2,371 140 0 26,395 0 1 Includes $ 5,792 million of inflation-indexed securities valued at the original face amount and $ 330 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 31, 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 59 9 2 3 4 3 3 6 3 6 8 1 7 2 7 1 3 5 3 1 5 3 5 4 64 Loans 43 1 5 2 7 0 0 0 5 11 4 6 8 8 9 4 8 5 6 20 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 26,39 5 0 26,39 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 198,32 3 11,38 5 76,55 3 8,26 0 11,09 8 11,64 2 13,20 1 23,72 2 7,53 4 83 5 6,60 9 5,86 8 21,615 Notes (3) 223,63 1 12,83 8 86,32 2 9,31 4 12,51 5 13,12 8 14,88 5 26,75 0 8,49 5 94 1 7,45 2 6,61 7 24,373 Bonds (4) 84,79 1 4,86 8 32,72 9 3,53 2 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) 506,74 4 29,09 1 195,60 4 21,10 6 28,35 8 29,74 7 33,73 0 60,61 4 19,25 0 2,13 3 16,88 7 14,99 3 55,230 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 506,74 4 29,09 1 195,60 4 21,10 6 28,35 8 29,74 7 33,73 0 60,61 4 19,25 0 2,13 3 16,88 7 14,99 3 55,230 Total loans and securities 533,71 0 29,10 4 222,08 0 21,11 2 28,36 6 29,75 5 33,74 4 60,74 5 19,32 3 2,22 3 16,94 0 15,05 4 55,265 Items in process of collection 12,83 7 96 1 1,71 2 57 3 57 4 97 9 92 3 1,05 5 60 7 79 5 73 0 54 1 3,387 Bank premises 1,40 0 9 3 16 3 5 0 15 7 12 4 19 0 10 5 3 3 12 7 5 0 14 4 165 Other assets (6) 30,95 3 1,45 6 10,23 2 1,04 0 1,84 7 4,92 5 2,07 6 2,94 8 90 0 65 5 88 6 94 8 3,040 Interdistrict settlement account 0 + 1,79 5 + 3,10 1 - 21 9 + 3,06 3 + 54 7 + 1,08 8 - 2,09 8 - 63 5 - 68 2 - 97 0 - 4,08 2 - 908 TOTAL ASSETS 595,74 7 34,23 9 243,82 7 23,20 1 34,80 9 37,50 6 39,28 9 64,39 2 20,78 8 3,37 8 18,18 5 13,40 4 62,728 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 $ 254 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 $ 76 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 16,397 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 4,436 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 31, 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 541,59 0 31,37 6 226,82 3 21,76 5 31,13 6 31,66 5 35,94 5 59,19 2 19,23 9 1,48 9 16,45 8 11,01 8 55,485 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 21,63 4 1,39 4 5,69 6 47 8 2,20 3 1,67 5 1,12 3 2,83 6 64 7 83 5 86 4 1,44 5 2,438 U.S. Treasury—general account 5,44 5 0 5,44 5 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 11 0 1 8 7 1 2 8 2 3 1 1 1 1 3 Other 30 8 0 13 9 0 1 3 5 8 8 3 2 5 1 3 1 3 Total deposits 27,49 7 1,39 6 11,36 6 48 0 2,21 8 1,74 1 1,20 8 2,84 0 65 2 83 6 86 8 1,44 7 2,444 Deferred credit items 11,38 9 73 7 1,49 3 43 2 49 3 1,34 4 1,02 5 85 5 44 5 59 2 39 7 42 7 3,148 Other liabilities and accrued dividends (2) 4,75 2 27 7 1,63 3 20 9 27 6 34 7 35 7 54 0 19 6 7 2 18 3 17 1 491 TOTAL LIABILITIES 585,22 9 33,78 5 241,31 6 22,88 6 34,12 3 35,09 7 38,53 5 63,42 8 20,53 2 2,98 9 17,90 5 13,06 4 61,568 CAPITAL ACCOUNTS Capital paid in 6,78 1 29 0 1,49 9 20 2 45 0 1,67 7 48 4 60 9 16 1 27 4 18 1 22 2 732 Surplus 2,67 9 12 0 55 2 8 3 18 5 70 5 19 2 24 1 6 6 9 8 7 5 8 8 275 Other capital accounts 1,05 8 4 4 46 0 3 0 5 0 2 7 7 7 11 4 2 9 1 8 2 4 3 1 153 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 595,74 7 34,23 9 243,82 7 23,20 1 34,80 9 37,50 6 39,28 9 64,39 2 20,78 8 3,37 8 18,18 5 13,40 4 62,728 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 777,90 0 39,42 7 312,04 5 30,98 2 38,48 6 50,43 4 59,79 4 72,92 8 24,62 4 10,38 9 22,71 4 34,26 7 81,810 Less—Held by F.R. Banks 236,31 0 8,05 1 85,22 2 9,21 7 7,35 1 18,77 0 23,84 9 13,73 6 5,38 5 8,90 0 6,25 6 23,24 9 26,326 F.R. notes, net 541,59 0 31,37 6 226,82 3 21,76 5 31,13 6 31,66 5 35,94 5 59,19 2 19,23 9 1,48 9 16,45 8 11,01 8 55,485 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) 525,342 Total collateral 541,590 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.