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. July 6, 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 Jul 5, 2000 Jun 28, 2000 Jul 7, 1999 Jul 5, 2000 Reserve Bank Credit 564,938 + 5,387 + 39,281 563,051 U.S. government securities (1) Bought outright-system account (2,3) 505,045 - 1,566 + 19,287 505,180 Held under repurchase agreements 0 0 - 1,213 0 Federal agency obligations (1) Bought outright 140 0 - 119 140 Held under repurchase agreements 0 0 - 4,996 0 Repurchase agreements — triparty (4) 25,048 + 7,570 + 25,048 23,245 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 59 + 19 + 12 74 Seasonal credit 460 - 1 + 274 460 Extended credit 0 0 0 0 Float 42 - 791 - 643 -365 Other F.R. assets 34,144 + 156 + 1,630 34,316 Gold stock 11,046 - 1 0 11,046 Special drawing rights certificate account 4,200 0 - 4,000 4,200 Treasury currency outstanding 29,288 + 14 + 2,255 29,288 Total factors supplying reserve funds 609,473 + 5,400 + 37,537 607,586 Currency in circulation* 571,402 + 4,486 + 36,998 573,996 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 74 + 5 - 16 64 Deposits, other than reserve balances, with F.R. Banks Treasury 6,159 - 824 + 393 5,358 Foreign 183 + 94 - 24 116 Service-related balances and adjustments (5) 7,063 + 210 + 136 7,063 Other 228 + 30 - 36 241 Other F.R. liabilities and capital 15,709 + 88 - 1,804 15,359 Total factors, other than reserve balances, absorbing reserve funds 600,818 + 4,089 + 35,645 602,198 Reserve balances with F.R. Banks (6) 8,655 + 1,311 + 1,892 5,388 On July 5, 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 $ 703,697 million, a change of $ + 1,758 million for the week. The total includes $ 618,152 million of U.S. government securities and $ 85,545 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 $ 17,645 million (daily average over statement week) and $ 17,510 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 17,645 million (daily average) and $ 17,510 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 2,619 million (daily average) and $ 1,351 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 $ 336 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 $ 6,350 million and adjustments of $ 714 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 Jul 5, 2000 Jun 28, 2000 Jul 7, 1999 ASSETS Gold certificate account 11,046 - 1 0 Special drawing rights certificate account 4,200 0 - 4,000 Coin 667 - 12 + 374 Loans 535 + 9 + 313 Acceptances 0 0 0 Repurchase agreements — triparty (1) 23,245 + 270 + 23,245 Federal agency obligations (2) Bought outright 140 0 - 119 Held under repurchase agreements 0 0 - 4,246 U.S. government securities (2) Bought outright—Bills 193,022 - 2,704 - 5,687 Notes (3) 226,139 + 1 + 17,283 Bonds (4) 86,020 0 + 8,136 Total bought outright (5) 505,180 - 2,704 + 19,731 Held under repurchase agreements 0 0 - 1,425 Total U.S. government securities 505,180 - 2,704 + 18,306 Total loans and securities 529,100 - 2,425 + 37,499 Items in process of collection (457) 6,269 - 1,655 - 5,045 Bank premises 1,410 + 8 + 89 Other assets (6) 32,895 + 113 + 1,384 TOTAL ASSETS (457) 585,587 - 3,972 + 30,300 LIABILITIES Federal Reserve notes 545,439 + 4,775 + 35,835 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 13,071 - 6,638 + 619 U.S. Treasury—general account 5,358 - 1,255 - 349 Foreign—official accounts 116 - 1 - 144 Other (0) 241 + 50 - 21 Total deposits (0) 18,786 - 7,844 + 104 Deferred availability cash items (456) 6,004 - 948 - 3,650 Other liabilities and accrued dividends (7) 4,604 - 207 + 307 TOTAL LIABILITIES (457) 574,832 - 4,225 + 32,596 CAPITAL ACCOUNTS Capital paid in 6,866 + 1 + 586 Surplus 2,679 0 - 3,273 Other capital accounts 1,210 + 252 + 391 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 $ 17,510 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,351 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, July 5, 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 175 13,016 - 4,334 0 0 17,240 0 16 days to 90 days 359 109,813 + 2,757 10 0 6,005 0 91 days to 1 year 0 135,592 + 435 0 0 ——— ——— Over 1 year to 5 years ——— 124,668 - 1,563 10 0 ——— ——— Over 5 years to 10 years ——— 53,438 0 120 0 ——— ——— Over 10 years ——— 68,652 0 0 0 ——— ——— Total 535 505,180 - 2,704 140 0 23,245 0 1 Includes $ 5,792 million of inflation-indexed securities valued at the original face amount and $ 336 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 July 5, 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 6 53 5 4,42 8 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 66 7 2 1 5 8 3 8 4 5 8 3 8 4 8 8 3 8 2 9 5 9 5 7 67 Loans 53 5 0 3 5 5 0 3 1 2 12 1 9 9 14 1 6 0 1 7 41 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 23,24 5 0 23,24 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 193,02 2 11,08 1 74,50 7 8,03 9 10,80 2 11,33 1 12,84 8 23,08 8 7,33 2 81 3 6,43 2 5,71 1 21,037 Notes (3) 226,13 9 12,98 2 87,29 0 9,41 9 12,65 5 13,27 5 15,05 2 27,05 0 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) 505,18 0 29,00 2 195,00 1 21,04 1 28,27 0 29,65 5 33,62 6 60,42 7 19,19 0 2,12 7 16,83 5 14,94 7 55,059 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 505,18 0 29,00 2 195,00 1 21,04 1 28,27 0 29,65 5 33,62 6 60,42 7 19,19 0 2,12 7 16,83 5 14,94 7 55,059 Total loans and securities 529,10 0 29,01 0 218,33 5 21,05 2 28,27 8 29,66 6 33,64 8 60,56 5 19,29 5 2,26 8 16,90 0 14,96 8 55,115 Items in process of collection 6,72 6 31 4 49 6 17 8 23 8 34 4 43 5 62 3 42 8 66 4 33 5 52 8 2,144 Bank premises 1,41 0 9 4 16 3 5 0 15 6 12 4 20 0 10 5 3 3 12 7 5 0 14 4 165 Other assets (6) 32,89 5 1,56 1 10,95 2 1,18 0 1,93 8 5,09 8 2,15 6 3,16 4 97 2 67 1 94 6 1,00 5 3,253 Interdistrict settlement account 0 + 1,63 9 + 6,66 9 + 6 + 2,13 8 + 15 9 + 1,22 8 - 3,65 7 - 71 5 - 82 4 - 76 7 - 4,54 9 - 1,326 TOTAL ASSETS 586,04 4 33,39 2 242,76 9 23,07 6 33,51 3 36,50 4 38,86 9 62,35 8 20,54 4 3,15 0 17,98 8 12,85 4 61,027 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 $ 17,510 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,351 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 July 5, 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 545,43 9 31,58 0 229,34 3 22,02 6 31,25 0 32,18 2 36,67 7 58,47 6 19,26 6 1,46 3 16,54 2 11,20 6 55,429 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 13,07 1 64 1 3,11 5 34 7 1,09 7 1,16 0 89 1 1,78 9 52 9 55 1 62 0 73 9 1,592 U.S. Treasury—general account 5,35 8 0 5,35 8 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 11 6 1 9 2 1 2 8 2 3 1 1 1 1 3 Other 24 1 1 14 0 0 7 7 9 0 1 0 0 0 2 1 1 Total deposits 18,78 6 64 3 8,70 5 34 8 1,10 7 1,24 7 89 3 1,80 1 53 1 55 2 62 3 74 1 1,596 Deferred credit items 6,46 0 44 5 62 3 16 1 19 7 30 1 21 2 60 2 29 2 60 3 37 1 32 7 2,327 Other liabilities and accrued dividends (2) 4,60 4 26 9 1,57 0 20 4 26 2 29 8 33 6 52 0 19 1 6 5 17 5 23 5 479 TOTAL LIABILITIES 575,28 9 32,93 7 240,24 0 22,73 9 32,81 5 34,02 7 38,11 8 61,39 8 20,28 0 2,68 3 17,71 0 12,50 9 59,831 CAPITAL ACCOUNTS Capital paid in 6,86 6 29 1 1,49 9 21 2 45 5 1,67 7 48 2 60 6 16 0 33 5 17 9 22 2 748 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 1,21 0 4 4 47 7 4 1 5 7 9 5 7 8 11 3 3 8 3 4 2 4 3 6 174 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 586,04 4 33,39 2 242,76 9 23,07 6 33,51 3 36,50 4 38,86 9 62,35 8 20,54 4 3,15 0 17,98 8 12,85 4 61,027 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 773,01 0 38,73 9 310,88 9 31,28 9 37,92 4 50,11 3 59,81 2 71,89 4 24,31 1 10,23 4 22,51 7 33,87 5 81,412 Less—Held by F.R. Banks 227,57 1 7,15 9 81,54 6 9,26 3 6,67 4 17,93 1 23,13 5 13,41 8 5,04 5 8,77 1 5,97 5 22,67 0 25,983 F.R. notes, net 545,43 9 31,58 0 229,34 3 22,02 6 31,25 0 32,18 2 36,67 7 58,47 6 19,26 6 1,46 3 16,54 2 11,20 6 55,429 Collateral held against F.R. notes Gold certificate account 11,046 Special drawing rights certificate account 4,200 Other eligible assets 1,627 U.S. govt. and agency securities (3) 528,565 Total collateral 545,439 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.