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 22, 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 21, 2000 Jun 14, 2000 Jun 23, 1999 Jun 21, 2000 Reserve Bank Credit 558,964 + 1,654 + 39,803 566,228 U.S. government securities (1) Bought outright-system account (2,3) 508,074 + 546 + 22,776 508,531 Held under repurchase agreements 0 0 - 44 0 Federal agency obligations (1) Bought outright 140 0 - 123 140 Held under repurchase agreements 0 0 - 837 0 Repurchase agreements — triparty (4) 15,563 + 22 + 15,563 20,970 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 46 + 19 + 20 129 Seasonal credit 395 + 43 + 253 454 Extended credit 0 0 0 0 Float 1,186 + 538 + 836 2,220 Other F.R. assets 33,561 + 487 + 1,359 33,783 Gold stock 11,048 0 + 1 11,048 Special drawing rights certificate account 4,200 - 1,000 - 4,000 4,200 Treasury currency outstanding 29,446 + 14 + 2,475 29,446 Total factors supplying reserve funds 603,658 + 668 + 38,278 610,921 Currency in circulation* 567,316 - 742 + 39,370 567,990 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 68 - 13 - 21 68 Deposits, other than reserve balances, with F.R. Banks Treasury 7,943 + 2,711 + 920 13,668 Foreign 83 + 1 - 128 86 Service-related balances and adjustments (5) 6,918 + 257 - 104 6,918 Other 251 + 14 + 39 238 Other F.R. liabilities and capital 15,571 - 65 - 1,998 15,254 Total factors, other than reserve balances, absorbing reserve funds 598,150 + 2,163 + 38,078 604,220 Reserve balances with F.R. Banks (6) 5,508 - 1,495 + 200 6,701 On June 21, 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 $ 703,684 million, a change of $ + 2,741 million for the week. The total includes $ 615,607 million of U.S. government securities and $ 88,077 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 $ 16,373 million (daily average over statement week) and $ 16,820 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 16,373 million (daily average) and $ 16,820 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,533 million (daily average) and $ 900 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 $ 6,381 million and adjustments of $ 537 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 21, 2000 Jun 14, 2000 Jun 23, 1999 ASSETS Gold certificate account 11,048 0 + 2 Special drawing rights certificate account 4,200 - 1,000 - 4,000 Coin 674 + 13 + 337 Loans 583 + 127 + 289 Acceptances 0 0 0 Repurchase agreements — triparty (1) 20,970 + 2,860 + 20,970 Federal agency obligations (2) Bought outright 140 0 - 123 Held under repurchase agreements 0 0 - 1,107 U.S. government securities (2) Bought outright—Bills 197,899 - 474 - 613 Notes (3) 224,689 + 1,056 + 15,840 Bonds (4) 85,943 + 553 + 8,061 Total bought outright (5) 508,531 + 1,135 + 23,288 Held under repurchase agreements 0 0 - 50 Total U.S. government securities 508,531 + 1,135 + 23,238 Total loans and securities 530,224 + 4,121 + 43,267 Items in process of collection (1,028) 9,812 + 1,235 + 2,900 Bank premises 1,403 + 1 + 83 Other assets (6) 32,427 + 553 + 1,348 TOTAL ASSETS (1,028) 589,788 + 4,923 + 43,938 LIABILITIES Federal Reserve notes 539,285 - 745 + 36,828 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 13,583 - 3,040 + 1,559 U.S. Treasury—general account 13,668 + 8,644 + 6,783 Foreign—official accounts 86 - 21 - 88 Other (-1) 238 - 9 + 39 Total deposits (-1) 27,573 + 5,572 + 8,291 Deferred availability cash items (1,029) 7,676 + 181 + 858 Other liabilities and accrued dividends (7) 4,767 - 77 + 565 TOTAL LIABILITIES (1,028) 579,301 + 4,931 + 46,542 CAPITAL ACCOUNTS Capital paid in 6,863 + 7 + 572 Surplus 2,679 0 - 3,273 Other capital accounts 945 - 15 + 96 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 $ 257 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 $ 16,820 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 900 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 21, 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 560 18,944 + 4,016 0 0 12,990 0 16 days to 90 days 23 108,420 + 317 10 0 7,980 0 91 days to 1 year 0 133,553 - 3,751 0 0 ——— ——— Over 1 year to 5 years ——— 125,526 + 1 10 0 ——— ——— Over 5 years to 10 years ——— 53,437 0 120 0 ——— ——— Over 10 years ——— 68,652 + 552 0 0 ——— ——— Total 583 508,531 + 1,135 140 0 20,970 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 21, 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. 4,20 0 21 9 1,66 8 15 8 19 9 28 0 31 7 40 5 13 5 5 8 12 6 18 7 448 Coin 67 4 2 4 5 2 3 9 4 7 8 0 8 3 9 9 4 0 3 1 5 8 5 8 63 Loans 58 3 5 0 0 4 2 3 1 1 12 7 7 0 11 7 9 3 8 6 48 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 20,97 0 0 20,97 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 197,89 9 11,36 1 76,39 0 8,24 3 11,07 5 11,61 7 13,17 3 23,67 2 7,51 8 83 3 6,59 5 5,85 5 21,569 Notes (3) 224,68 9 12,89 9 86,73 0 9,35 8 12,57 4 13,19 0 14,95 6 26,87 6 8,53 5 94 6 7,48 8 6,64 8 24,489 Bonds (4) 85,94 3 4,93 4 33,17 4 3,58 0 4,80 9 5,04 5 5,72 1 10,28 0 3,26 5 36 2 2,86 4 2,54 3 9,367 Total bought outright (5) 508,53 1 29,19 4 196,29 4 21,18 1 28,45 8 29,85 2 33,84 9 60,82 8 19,31 8 2,14 1 16,94 7 15,04 6 55,424 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 508,53 1 29,19 4 196,29 4 21,18 1 28,45 8 29,85 2 33,84 9 60,82 8 19,31 8 2,14 1 16,94 7 15,04 6 55,424 Total loans and securities 530,22 4 29,20 7 217,31 8 21,18 7 28,47 0 29,88 3 33,86 9 60,97 1 19,39 3 2,25 8 17,04 4 15,13 7 55,487 Items in process of collection 10,84 0 69 8 1,17 6 42 9 48 5 75 0 82 5 1,90 7 34 4 61 6 60 4 54 1 2,466 Bank premises 1,40 3 9 4 16 4 5 0 15 7 12 4 19 1 10 5 3 3 12 7 5 0 14 4 165 Other assets (6) 32,42 7 1,53 4 10,79 9 1,16 1 1,91 9 5,00 4 2,18 8 3,11 3 94 6 65 7 93 0 99 0 3,187 Interdistrict settlement account 0 + 1,23 3 +13,76 5 - 44 0 + 1,45 8 - 12 5 + 60 5 - 5,36 2 - 91 8 - 1,04 5 - 1,51 6 - 5,27 6 - 2,380 TOTAL ASSETS 590,81 6 33,54 4 249,37 1 22,99 8 33,25 5 36,74 6 38,87 9 62,30 1 20,33 1 2,86 1 17,63 7 12,29 5 60,598 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 $ 257 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 $ 16,820 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 900 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 21, 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 539,28 5 31,03 0 227,54 1 21,73 0 30,82 1 31,48 0 36,01 0 58,16 4 19,02 9 1,37 2 16,33 8 10,94 9 54,820 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 13,58 3 1,14 2 2,78 7 33 8 1,13 0 1,70 7 91 4 1,81 4 57 7 39 6 43 0 52 0 1,826 U.S. Treasury—general account 13,66 8 0 13,66 8 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 23 7 0 13 6 0 9 8 7 1 1 0 0 1 0 1 Total deposits 27,57 3 1,14 3 16,65 3 33 9 1,14 2 1,80 2 91 7 1,81 8 57 8 39 8 43 3 52 2 1,830 Deferred credit items 8,70 4 64 6 1,07 4 39 2 34 0 71 0 85 8 82 8 27 3 56 1 40 7 31 4 2,301 Other liabilities and accrued dividends (2) 4,76 7 27 8 1,63 2 21 3 27 5 34 6 35 6 54 0 20 1 7 6 18 1 17 2 497 TOTAL LIABILITIES 580,32 9 33,09 8 246,89 9 22,67 5 32,57 7 34,33 8 38,14 2 61,34 9 20,08 1 2,40 6 17,35 9 11,95 7 59,449 CAPITAL ACCOUNTS Capital paid in 6,86 3 29 1 1,49 9 20 8 45 5 1,67 7 48 5 61 0 16 1 33 5 18 1 22 3 738 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 94 5 3 5 42 1 3 2 3 8 2 7 6 1 10 1 2 4 2 2 2 2 2 7 136 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 590,81 6 33,54 4 249,37 1 22,99 8 33,25 5 36,74 6 38,87 9 62,30 1 20,33 1 2,86 1 17,63 7 12,29 5 60,598 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 774,85 3 38,87 1 311,17 0 31,21 0 38,03 0 50,09 2 59,97 7 72,14 7 24,41 7 10,28 6 22,52 8 34,12 8 81,998 Less—Held by F.R. Banks 235,56 8 7,84 1 83,62 9 9,48 0 7,20 9 18,61 2 23,96 7 13,98 3 5,38 8 8,91 4 6,19 0 23,17 9 27,178 F.R. notes, net 539,28 5 31,03 0 227,54 1 21,73 0 30,82 1 31,48 0 36,01 0 58,16 4 19,02 9 1,37 2 16,33 8 10,94 9 54,820 Collateral held against F.R. notes Gold certificate account 11,048 Special drawing rights certificate account 4,200 Other eligible assets 0 U.S. govt. and agency securities (3) 524,037 Total collateral 539,285 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.