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 15, 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 14, 2000 Jun 7, 2000 Jun 16, 1999 Jun 14, 2000 Reserve Bank Credit 557,301 + 25 + 34,779 560,360 U.S. government securities (1) Bought outright-system account (2,3) 507,528 + 1,102 + 22,844 507,396 Held under repurchase agreements 0 0 - 1,851 0 Federal agency obligations (1) Bought outright 140 0 - 123 140 Held under repurchase agreements 0 0 - 2,988 0 Repurchase agreements — triparty (4) 15,541 - 1,419 + 15,541 18,110 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 27 - 212 + 3 79 Seasonal credit 352 + 27 + 241 378 Extended credit 0 0 0 0 Float 638 - 47 - 57 1,021 Other F.R. assets 33,074 + 573 + 1,168 33,235 Gold stock 11,048 0 + 1 11,048 Special drawing rights certificate account 5,200 0 - 3,000 5,200 Treasury currency outstanding 28,913 + 14 + 1,974 28,913 Total factors supplying reserve funds 602,461 + 39 + 33,754 605,520 Currency in circulation* 567,539 - 986 + 39,287 568,214 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 81 - 51 - 28 68 Deposits, other than reserve balances, with F.R. Banks Treasury 5,232 + 576 - 217 5,024 Foreign 82 - 1 - 165 107 Service-related balances and adjustments (5) 6,661 - 430 - 66 6,661 Other 237 - 23 - 8 247 Other F.R. liabilities and capital 15,636 - 40 - 2,020 15,339 Total factors, other than reserve balances, absorbing reserve funds 595,468 - 955 + 36,783 595,659 Reserve balances with F.R. Banks (6) 6,994 + 995 - 3,028 9,861 On June 14, 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 $ 700,943 million, a change of $ + 4,289 million for the week. The total includes $ 612,448 million of U.S. government securities and $ 88,495 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 $ 16,215 million (daily average over statement week) and $ 16,347 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 16,215 million (daily average) and $ 16,347 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 885 million (daily average) and $ 1,718 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 $ 334 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 $ 6,393 million and adjustments of $ 268 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 14, 2000 Jun 7, 2000 Jun 16, 1999 ASSETS Gold certificate account 11,048 0 + 1 Special drawing rights certificate account 5,200 0 - 3,000 Coin 661 + 25 + 319 Loans 456 + 111 + 321 Acceptances 0 0 0 Repurchase agreements — triparty (1) 18,110 + 490 + 18,110 Federal agency obligations (2) Bought outright 140 0 - 123 Held under repurchase agreements 0 0 - 1,457 U.S. government securities (2) Bought outright—Bills 198,373 + 858 + 284 Notes (3) 223,633 0 + 14,790 Bonds (4) 85,390 + 599 + 7,510 Total bought outright (5) 507,396 + 1,457 + 22,584 Held under repurchase agreements 0 0 - 1,430 Total U.S. government securities 507,396 + 1,457 + 21,154 Total loans and securities 526,103 + 2,059 + 38,007 Items in process of collection (932) 8,577 - 198 + 952 Bank premises 1,402 + 1 + 86 Other assets (6) 31,874 + 529 + 1,083 TOTAL ASSETS (932) 584,865 + 2,416 + 37,447 LIABILITIES Federal Reserve notes 540,030 - 775 + 37,517 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 16,623 + 3,627 + 1,705 U.S. Treasury—general account 5,024 - 7 + 315 Foreign—official accounts 107 + 21 - 88 Other (0) 247 + 3 - 4 Total deposits (0) 22,001 + 3,644 + 1,928 Deferred availability cash items (932) 7,495 - 531 + 30 Other liabilities and accrued dividends (7) 4,844 - 43 + 572 TOTAL LIABILITIES (932) 574,370 + 2,294 + 40,048 CAPITAL ACCOUNTS Capital paid in 6,856 + 67 + 570 Surplus 2,679 0 - 3,273 Other capital accounts 960 + 55 + 102 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 $ 16,347 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,718 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 14, 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 180 14,928 - 3,899 0 0 10,380 0 16 days to 90 days 276 108,103 + 4,907 10 + 10 7,730 0 91 days to 1 year 0 137,304 - 150 0 - 10 ——— ——— Over 1 year to 5 years ——— 125,525 0 10 0 ——— ——— Over 5 years to 10 years ——— 53,437 + 1 120 0 ——— ——— Over 10 years ——— 68,100 + 600 0 0 ——— ——— Total 456 507,396 + 1,457 140 0 18,110 0 1 Includes $ 5,792 million of inflation-indexed securities valued at the original face amount and $ 334 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 14, 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 66 1 2 3 4 9 3 7 4 4 8 2 8 1 9 5 3 8 3 2 5 8 6 0 64 Loans 45 6 2 0 0 0 5 6 9 10 4 5 3 10 1 5 4 4 5 32 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 18,11 0 0 18,11 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 198,37 3 11,38 8 76,57 2 8,26 2 11,10 1 11,64 5 13,20 4 23,72 8 7,53 6 83 5 6,61 1 5,86 9 21,621 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) 85,39 0 4,90 2 32,96 1 3,55 7 4,77 9 5,01 3 5,68 4 10,21 4 3,24 4 35 9 2,84 6 2,52 6 9,307 Total bought outright (5) 507,39 6 29,12 9 195,85 6 21,13 3 28,39 4 29,78 5 33,77 4 60,69 2 19,27 5 2,13 6 16,90 9 15,01 3 55,301 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 507,39 6 29,12 9 195,85 6 21,13 3 28,39 4 29,78 5 33,77 4 60,69 2 19,27 5 2,13 6 16,90 9 15,01 3 55,301 Total loans and securities 526,10 3 29,13 9 214,02 0 21,13 9 28,40 2 29,85 0 33,79 2 60,81 3 19,33 3 2,23 8 16,96 8 15,06 2 55,348 Items in process of collection 9,50 9 59 0 1,04 1 47 8 36 6 49 8 83 3 93 4 37 1 62 9 62 1 26 0 2,888 Bank premises 1,40 2 9 4 16 4 5 0 15 7 12 4 19 0 10 5 3 3 12 7 5 0 14 4 165 Other assets (6) 31,87 4 1,50 7 10,59 8 1,14 4 1,89 4 4,97 7 2,09 0 3,05 3 92 8 65 7 91 6 97 5 3,135 Interdistrict settlement account 0 + 1,97 5 +10,03 1 - 45 7 + 1,99 9 - 14 4 + 18 2 - 3,60 5 - 62 6 - 70 3 - 1,21 7 - 4,66 1 - 2,774 TOTAL ASSETS 585,79 7 34,13 3 242,39 8 23,00 1 33,62 8 36,48 3 38,36 2 62,96 1 20,60 2 3,21 0 17,89 2 12,58 5 60,541 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 $ 16,347 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,718 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 14, 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 540,03 0 31,35 4 228,14 6 21,56 2 31,12 0 31,36 4 35,29 9 58,88 7 19,14 5 1,41 3 16,43 6 10,76 0 54,543 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 16,62 3 1,49 7 3,89 0 52 5 1,19 7 1,65 5 1,09 5 1,90 2 71 8 73 3 57 5 98 3 1,853 U.S. Treasury—general account 5,02 4 0 5,02 4 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 10 7 1 8 3 1 2 8 2 3 1 1 1 1 3 Other 24 7 0 14 1 0 8 9 1 0 1 0 0 2 1 1 Total deposits 22,00 1 1,49 8 9,13 8 52 6 1,20 7 1,75 5 1,09 8 1,90 6 71 9 73 4 57 8 98 5 1,856 Deferred credit items 8,42 7 55 5 98 1 37 5 34 7 58 8 86 4 67 0 28 5 53 1 41 1 32 7 2,493 Other liabilities and accrued dividends (2) 4,84 4 28 1 1,65 2 21 4 28 2 35 3 36 3 54 9 20 0 8 0 19 0 17 6 506 TOTAL LIABILITIES 575,30 2 33,68 9 239,91 8 22,67 7 32,95 6 34,06 0 37,62 4 62,01 1 20,35 0 2,75 8 17,61 5 12,24 7 59,398 CAPITAL ACCOUNTS Capital paid in 6,85 6 29 1 1,49 9 20 8 45 0 1,67 8 48 5 61 0 16 2 33 5 18 1 22 2 735 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 96 0 3 4 42 8 3 3 3 6 4 1 6 2 9 9 2 5 1 9 2 1 2 8 133 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 585,79 7 34,13 3 242,39 8 23,00 1 33,62 8 36,48 3 38,36 2 62,96 1 20,60 2 3,21 0 17,89 2 12,58 5 60,541 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 775,87 3 39,23 4 312,16 9 31,03 8 38,35 3 50,11 7 59,22 1 72,71 2 24,50 2 10,33 6 22,66 1 34,02 2 81,508 Less—Held by F.R. Banks 235,84 3 7,88 0 84,02 2 9,47 5 7,23 3 18,75 2 23,92 1 13,82 5 5,35 6 8,92 3 6,22 5 23,26 2 26,965 F.R. notes, net 540,03 0 31,35 4 228,14 6 21,56 2 31,12 0 31,36 4 35,29 9 58,88 7 19,14 5 1,41 3 16,43 6 10,76 0 54,543 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) 523,783 Total collateral 540,030 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.