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 29, 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 28, 2000 Jun 21, 2000 Jun 30, 1999 Jun 28, 2000 Reserve Bank Credit 559,552 + 588 + 32,944 566,891 U.S. government securities (1) Bought outright-system account (2,3) 506,611 - 1,463 + 20,856 507,884 Held under repurchase agreements 0 0 - 4,259 0 Federal agency obligations (1) Bought outright 140 0 - 120 140 Held under repurchase agreements 0 0 - 3,331 0 Repurchase agreements — triparty (4) 17,478 + 1,915 + 17,478 22,975 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 40 - 6 + 20 50 Seasonal credit 461 + 66 + 288 476 Extended credit 0 0 0 0 Float 834 - 351 + 863 1,155 Other F.R. assets 33,988 + 427 + 1,147 34,211 Gold stock 11,047 - 1 + 1 11,047 Special drawing rights certificate account 4,200 0 - 4,000 4,200 Treasury currency outstanding 29,274 + 14 + 2,270 29,274 Total factors supplying reserve funds 604,074 + 602 + 31,216 611,412 Currency in circulation* 566,917 - 214 + 37,883 569,192 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 68 0 - 22 68 Deposits, other than reserve balances, with F.R. Banks Treasury 6,983 - 960 + 160 6,613 Foreign 89 + 6 - 134 117 Service-related balances and adjustments (5) 6,853 - 65 - 363 6,853 Other 198 - 53 - 4 191 Other F.R. liabilities and capital 15,621 + 50 - 2,339 15,313 Total factors, other than reserve balances, absorbing reserve funds 596,729 - 1,236 + 35,180 598,346 Reserve balances with F.R. Banks (6) 7,345 + 1,838 - 3,964 13,066 On June 28, 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 $ 701,939 million, a change of $ - 1,745 million for the week. The total includes $ 615,985 million of U.S. government securities and $ 85,953 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 $ 17,184 million (daily average over statement week) and $ 16,885 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 17,184 million (daily average) and $ 16,885 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 682 million (daily average) and $ 1,488 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 $ 335 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 $ 472 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 28, 2000 Jun 21, 2000 Jun 30, 1999 ASSETS Gold certificate account 11,047 - 1 + 1 Special drawing rights certificate account 4,200 0 - 4,000 Coin 679 + 5 + 368 Loans 526 - 57 + 306 Acceptances 0 0 0 Repurchase agreements — triparty (1) 22,975 + 2,005 + 22,975 Federal agency obligations (2) Bought outright 140 0 - 119 Held under repurchase agreements 0 0 - 5,179 U.S. government securities (2) Bought outright—Bills 195,726 - 2,173 - 2,401 Notes (3) 226,138 + 1,449 + 17,283 Bonds (4) 86,020 + 77 + 8,136 Total bought outright (5) 507,884 - 647 + 23,018 Held under repurchase agreements 0 0 - 9,100 Total U.S. government securities 507,884 - 647 + 13,918 Total loans and securities 531,525 + 1,301 + 31,901 Items in process of collection (768) 7,924 - 1,888 + 159 Bank premises 1,402 - 1 + 81 Other assets (6) 32,782 + 355 + 1,085 TOTAL ASSETS (768) 589,559 - 229 + 29,595 LIABILITIES Federal Reserve notes 540,664 + 1,379 + 35,241 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 19,709 + 6,126 - 2,447 U.S. Treasury—general account 6,613 - 7,055 - 107 Foreign—official accounts 117 + 31 - 293 Other (0) 191 - 47 - 50 Total deposits (0) 26,630 - 943 - 2,897 Deferred availability cash items (768) 6,952 - 724 - 400 Other liabilities and accrued dividends (7) 4,811 + 44 + 157 TOTAL LIABILITIES (768) 579,057 - 244 + 32,101 CAPITAL ACCOUNTS Capital paid in 6,865 + 2 + 583 Surplus 2,679 0 - 3,273 Other capital accounts 958 + 13 + 183 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 $ 258 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 $ 78 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 16,885 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,488 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 28, 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 481 17,350 - 1,594 0 0 16,975 0 16 days to 90 days 45 107,056 - 1,364 10 0 6,000 0 91 days to 1 year 0 135,157 + 1,604 0 0 ——— ——— Over 1 year to 5 years ——— 126,231 + 705 10 0 ——— ——— Over 5 years to 10 years ——— 53,438 + 1 120 0 ——— ——— Over 10 years ——— 68,652 0 0 0 ——— ——— Total 526 507,884 - 647 140 0 22,975 0 1 Includes $ 5,792 million of inflation-indexed securities valued at the original face amount and $ 335 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 28, 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 7 53 5 4,42 9 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 9 2 3 6 0 4 0 4 8 8 5 8 3 9 4 4 0 3 0 5 9 5 8 60 Loans 52 6 4 0 1 0 0 1 2 13 3 9 1 12 8 7 4 3 2 52 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 22,97 5 0 22,97 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 195,72 6 11,23 6 75,55 1 8,15 2 10,95 3 11,49 0 13,02 8 23,41 2 7,43 5 82 4 6,52 2 5,79 1 21,332 Notes (3) 226,13 8 12,98 2 87,29 0 9,41 9 12,65 5 13,27 5 15,05 2 27,04 9 8,59 0 95 2 7,53 6 6,69 1 24,647 Bonds (4) 86,02 0 4,93 8 33,20 4 3,58 3 4,81 4 5,05 0 5,72 6 10,28 9 3,26 8 36 2 2,86 7 2,54 5 9,375 Total bought outright (5) 507,88 4 29,15 7 196,04 4 21,15 4 28,42 2 29,81 4 33,80 6 60,75 0 19,29 3 2,13 8 16,92 5 15,02 7 55,354 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 507,88 4 29,15 7 196,04 4 21,15 4 28,42 2 29,81 4 33,80 6 60,75 0 19,29 3 2,13 8 16,92 5 15,02 7 55,354 Total loans and securities 531,52 5 29,16 9 219,07 3 21,16 1 28,43 0 29,82 2 33,82 7 60,90 0 19,38 9 2,26 7 17,00 3 15,06 3 55,421 Items in process of collection 8,69 2 58 2 98 4 38 2 44 4 50 8 90 8 51 3 34 0 56 9 58 0 49 9 2,383 Bank premises 1,40 2 9 4 16 4 5 0 15 6 12 4 19 0 10 5 3 3 12 7 5 0 14 4 165 Other assets (6) 32,78 2 1,56 7 10,95 8 1,18 1 1,92 6 5,03 8 2,14 5 3,16 4 96 2 66 1 94 5 1,00 1 3,234 Interdistrict settlement account 0 + 1,70 4 + 8,78 2 - 28 3 + 1,84 9 - 8 3 + 1,12 7 - 3,96 6 - 55 0 - 65 5 - 1,25 7 - 4,03 2 - 2,637 TOTAL ASSETS 590,32 6 33,89 2 246,11 8 23,10 1 33,57 3 36,52 3 39,40 0 62,27 9 20,70 8 3,21 6 17,84 6 13,43 4 60,237 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 $ 258 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 $ 78 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 16,885 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,488 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 28, 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 540,66 4 31,20 5 228,31 4 21,76 8 30,97 8 31,79 7 36,27 7 57,94 3 19,09 2 1,39 5 16,39 7 10,91 8 54,580 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 19,70 9 1,40 4 5,90 9 45 8 1,33 0 1,33 1 1,22 2 2,27 5 88 9 74 3 65 4 1,69 5 1,800 U.S. Treasury—general account 6,61 3 0 6,61 3 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 11 7 1 9 3 1 2 8 2 3 1 1 1 1 3 Other 19 1 0 13 6 1 8 4 1 0 1 0 0 2 1 1 Total deposits 26,63 0 1,40 6 12,75 0 46 0 1,34 0 1,38 0 1,22 4 2,27 9 89 0 74 5 65 7 1,69 7 1,804 Deferred credit items 7,71 9 56 1 95 5 33 6 29 9 56 9 80 8 57 4 27 9 54 5 33 8 27 1 2,185 Other liabilities and accrued dividends (2) 4,81 1 27 7 1,62 7 21 0 27 5 35 6 35 6 53 7 19 7 7 6 18 2 21 0 509 TOTAL LIABILITIES 579,82 5 33,44 9 243,64 6 22,77 4 32,89 1 34,10 3 38,66 4 61,33 3 20,45 8 2,76 0 17,57 3 13,09 6 59,077 CAPITAL ACCOUNTS Capital paid in 6,86 5 29 1 1,49 9 21 2 45 5 1,67 7 48 1 60 5 16 0 33 5 17 9 22 3 748 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 95 8 3 2 42 0 3 2 4 2 3 9 6 3 10 0 2 3 2 3 2 0 2 7 137 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 590,32 6 33,89 2 246,11 8 23,10 1 33,57 3 36,52 3 39,40 0 62,27 9 20,70 8 3,21 6 17,84 6 13,43 4 60,237 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 773,88 5 38,79 9 311,03 1 31,27 8 37,96 1 50,09 8 59,92 0 71,99 0 24,35 4 10,25 3 22,55 4 33,97 9 81,667 Less—Held by F.R. Banks 233,22 1 7,59 4 82,71 7 9,51 0 6,98 3 18,30 0 23,64 3 14,04 7 5,26 2 8,85 8 6,15 7 23,06 1 27,087 F.R. notes, net 540,66 4 31,20 5 228,31 4 21,76 8 30,97 8 31,79 7 36,27 7 57,94 3 19,09 2 1,39 5 16,39 7 10,91 8 54,580 Collateral held against F.R. notes Gold certificate account 11,047 Special drawing rights certificate account 4,200 Other eligible assets 0 U.S. govt. and agency securities (3) 525,417 Total collateral 540,664 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.