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 8, 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 Jun 7, 2000 May 31, 2000 Jun 9, 1999 Jun 7, 2000 Reserve Bank Credit 557,277 - 3,013 + 37,616 556,956 U.S. government securities (1) Bought outright-system account (2,3) 506,426 + 235 + 22,523 505,939 Held under repurchase agreements 0 0 - 1,079 0 Federal agency obligations (1) Bought outright 140 0 - 171 140 Held under repurchase agreements 0 0 - 2,407 0 Repurchase agreements — triparty (4) 16,960 - 3,953 + 16,960 17,620 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 239 + 193 + 235 11 Seasonal credit 325 - 31 + 237 334 Extended credit 0 0 0 0 Float 685 + 483 + 321 200 Other F.R. assets 32,502 + 60 + 996 32,712 Gold stock 11,048 0 + 1 11,048 Special drawing rights certificate account 5,200 0 - 3,000 5,200 Treasury currency outstanding 28,899 + 14 + 1,993 28,899 Total factors supplying reserve funds 602,424 - 2,999 + 36,609 602,102 Currency in circulation* 568,525 + 492 + 39,537 568,985 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 132 - 45 - 4 83 Deposits, other than reserve balances, with F.R. Banks Treasury 4,656 - 224 - 199 5,031 Foreign 83 + 1 - 82 86 Service-related balances and adjustments (5) 7,091 + 345 + 191 7,091 Other 260 + 43 - 2 244 Other F.R. liabilities and capital 15,676 + 320 - 1,754 15,261 Total factors, other than reserve balances, absorbing reserve funds 596,423 + 931 + 37,688 596,780 Reserve balances with F.R. Banks (6) 6,001 - 3,930 - 1,079 5,322 On June 7, 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 $ 696,654 million, a change of $ - 2,528 million for the week. The total includes $ 608,394 million of U.S. government securities and $ 88,261 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 $ 16,717 million (daily average over statement week) and $ 17,205 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 16,309 million (daily average) and $ 16,205 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,969 million (daily average) and $ 1,925 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 $ 333 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 $ 6,394 million and adjustments of $ 697 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 Jun 7, 2000 May 31, 2000 Jun 9, 1999 ASSETS Gold certificate account 11,048 0 + 1 Special drawing rights certificate account 5,200 0 - 3,000 Coin 636 + 37 + 291 Loans 345 - 86 + 245 Acceptances 0 0 0 Repurchase agreements — triparty (1) 17,620 - 8,775 + 17,620 Federal agency obligations (2) Bought outright 140 0 - 171 Held under repurchase agreements 0 0 - 3,106 U.S. government securities (2) Bought outright—Bills 197,515 - 808 - 1,489 Notes (3) 223,633 + 2 + 15,638 Bonds (4) 84,791 0 + 7,085 Total bought outright (5) 505,939 - 805 + 21,233 Held under repurchase agreements 0 0 - 425 Total U.S. government securities 505,939 - 805 + 20,808 Total loans and securities 524,044 - 9,666 + 35,396 Items in process of collection (998) 8,775 - 3,210 + 942 Bank premises 1,401 + 1 + 85 Other assets (6) 31,345 + 392 + 979 TOTAL ASSETS (998) 582,449 - 12,447 + 34,695 LIABILITIES Federal Reserve notes 540,805 - 785 + 37,690 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 12,996 - 8,638 - 1,808 U.S. Treasury—general account 5,031 - 414 + 348 Foreign—official accounts 86 - 24 - 80 Other (0) 244 + 18 - 9 Total deposits (0) 18,357 - 9,059 - 1,549 Deferred availability cash items (998) 8,026 - 2,593 + 655 Other liabilities and accrued dividends (7) 4,887 + 135 + 553 TOTAL LIABILITIES (998) 572,076 - 12,301 + 37,350 CAPITAL ACCOUNTS Capital paid in 6,789 + 8 + 525 Surplus 2,679 0 - 3,273 Other capital accounts 905 - 153 + 94 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 $ 256 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 $ 77 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 17,205 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,925 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, June 7, 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 80 18,827 + 3,336 0 0 13,625 0 16 days to 90 days 265 103,196 - 2,388 0 0 3,995 0 91 days to 1 year 0 137,454 - 1,755 10 0 ——— ——— Over 1 year to 5 years ——— 125,525 0 10 0 ——— ——— Over 5 years to 10 years ——— 53,436 + 1 120 0 ——— ——— Over 10 years ——— 67,500 0 0 0 ——— ——— Total 345 505,939 - 805 140 0 17,620 0 1 Includes $ 5,792 million of inflation-indexed securities valued at the original face amount and $ 333 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 June 7, 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 63 6 2 3 4 6 3 9 3 5 8 3 7 7 8 5 3 5 3 2 5 6 6 1 62 Loans 34 5 1 0 0 0 0 9 9 6 5 5 9 5 5 5 1 4 19 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 17,62 0 0 17,62 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 197,51 5 11,33 9 76,24 1 8,22 7 11,05 3 11,59 5 13,14 7 23,62 6 7,50 3 83 1 6,58 2 5,84 4 21,527 Notes (3) 223,63 3 12,83 8 86,32 3 9,31 4 12,51 5 13,12 8 14,88 6 26,75 0 8,49 5 94 1 7,45 2 6,61 7 24,374 Bonds (4) 84,79 1 4,86 8 32,73 0 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) 505,93 9 29,04 5 195,29 3 21,07 3 28,31 3 29,70 0 33,67 7 60,51 8 19,21 9 2,13 0 16,86 0 14,97 0 55,142 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 505,93 9 29,04 5 195,29 3 21,07 3 28,31 3 29,70 0 33,67 7 60,51 8 19,21 9 2,13 0 16,86 0 14,97 0 55,142 Total loans and securities 524,04 4 29,05 4 212,96 7 21,07 8 28,32 1 29,70 8 33,69 5 60,63 0 19,28 0 2,22 6 16,92 0 14,98 8 55,176 Items in process of collection 9,77 3 74 0 1,17 3 44 0 34 6 79 3 70 7 1,17 8 36 5 49 2 63 7 54 4 2,359 Bank premises 1,40 1 9 4 16 3 5 0 15 7 12 4 19 0 10 5 3 3 12 7 5 0 14 4 165 Other assets (6) 31,34 5 1,47 5 10,38 8 1,12 2 1,87 0 4,94 1 2,06 0 2,98 6 90 8 65 2 89 6 97 4 3,073 Interdistrict settlement account 0 + 1,50 8 +10,07 5 - 34 8 + 1,89 8 - 61 1 + 56 4 - 3,68 1 - 57 6 - 88 0 - 1,20 6 - 4,89 8 - 1,847 TOTAL ASSETS 583,44 7 33,70 0 241,30 8 22,99 1 33,39 3 36,13 4 38,48 8 62,87 0 20,57 1 2,87 9 17,84 8 12,56 0 60,704 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 $ 256 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 $ 77 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 17,205 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,925 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 June 7, 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 540,80 5 31,34 1 227,67 1 21,61 5 31,13 9 31,39 9 35,62 7 59,02 6 19,18 7 1,46 7 16,44 7 10,93 5 54,951 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 12,99 6 94 4 3,25 1 45 9 90 9 1,16 2 76 8 1,68 4 60 7 43 2 47 9 75 7 1,544 U.S. Treasury—general account 5,03 1 0 5,03 1 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 8 6 1 6 2 1 2 8 2 3 1 1 1 1 3 Other 24 4 0 13 6 0 7 9 5 0 1 1 0 2 1 1 Total deposits 18,35 7 94 6 8,48 0 46 0 91 8 1,26 5 77 0 1,68 8 60 8 43 3 48 1 75 9 1,547 Deferred credit items 9,02 4 68 9 1,02 1 38 5 37 6 70 3 99 0 65 8 32 5 51 5 46 0 35 2 2,550 Other liabilities and accrued dividends (2) 4,88 7 28 4 1,66 6 21 6 28 8 35 9 36 3 55 4 20 0 7 4 18 5 17 8 519 TOTAL LIABILITIES 573,07 4 33,25 9 238,83 8 22,67 6 32,72 2 33,72 7 37,75 1 61,92 6 20,32 0 2,48 9 17,57 3 12,22 4 59,568 CAPITAL ACCOUNTS Capital paid in 6,78 9 29 0 1,49 9 20 8 45 0 1,67 7 48 5 60 9 16 1 27 4 18 1 22 2 733 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 90 5 3 1 41 9 2 4 3 6 2 5 6 0 9 5 2 4 1 8 2 0 2 7 128 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 583,44 7 33,70 0 241,30 8 22,99 1 33,39 3 36,13 4 38,48 8 62,87 0 20,57 1 2,87 9 17,84 8 12,56 0 60,704 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 776,88 1 39,32 8 312,15 4 31,00 5 38,42 5 50,25 4 59,48 8 72,85 7 24,56 9 10,36 2 22,69 5 34,15 4 81,591 Less—Held by F.R. Banks 236,07 6 7,98 7 84,48 3 9,39 0 7,28 6 18,85 5 23,86 0 13,83 1 5,38 2 8,89 5 6,24 8 23,22 0 26,640 F.R. notes, net 540,80 5 31,34 1 227,67 1 21,61 5 31,13 9 31,39 9 35,62 7 59,02 6 19,18 7 1,46 7 16,44 7 10,93 5 54,951 Collateral held against F.R. notes Gold certificate account 11,048 Special drawing rights certificate account 5,200 Other eligible assets 859 U.S. govt. and agency securities (3) 523,699 Total collateral 540,805 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.