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 27, 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 26, 2000 Jul 19, 2000 Jul 28, 1999 Jul 26, 2000 Reserve Bank Credit 558,302 - 11 + 32,101 561,826 U.S. government securities (1) Bought outright-system account (2,3) 506,293 - 754 + 19,103 507,830 Held under repurchase agreements 0 0 - 2,190 0 Federal agency obligations (1) Bought outright 140 0 - 112 140 Held under repurchase agreements 0 0 - 2,637 0 Repurchase agreements — triparty (4) 15,237 + 364 + 15,237 16,955 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 12 - 19 - 6 12 Seasonal credit 549 + 44 + 292 556 Extended credit 0 0 0 0 Float 487 - 111 + 206 537 Other F.R. assets 35,584 + 466 + 2,208 35,795 Gold stock 11,046 0 - 1 11,046 Special drawing rights certificate account 4,200 0 - 4,000 4,200 Treasury currency outstanding 29,783 + 14 + 2,662 29,783 Total factors supplying reserve funds 603,332 + 4 + 30,762 606,855 Currency in circulation* 568,396 - 1,709 + 35,517 569,138 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 102 + 33 + 49 118 Deposits, other than reserve balances, with F.R. Banks Treasury 4,633 - 700 - 268 5,134 Foreign 111 + 13 - 94 94 Service-related balances and adjustments (5) 6,837 + 243 - 474 6,837 Other 217 - 32 - 57 221 Other F.R. liabilities and capital 15,792 + 453 - 1,858 15,436 Total factors, other than reserve balances, absorbing reserve funds 596,088 - 1,700 + 32,814 596,978 Reserve balances with F.R. Banks (6) 7,244 + 1,704 - 2,052 9,877 On July 26, 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 $ 703,645 million, a change of $ - 5,471 million for the week. The total includes $ 616,859 million of U.S. government securities and $ 86,787 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 $ 16,606 million (daily average over statement week) and $ 17,213 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 16,606 million (daily average) and $ 17,213 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,432 million (daily average) and $ 845 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 $ 339 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 $ 6,355 million and adjustments of $ 482 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 26, 2000 Jul 19, 2000 Jul 28, 1999 ASSETS Gold certificate account 11,046 0 - 1 Special drawing rights certificate account 4,200 0 - 4,000 Coin 715 + 27 + 415 Loans 568 - 69 + 292 Acceptances 0 0 0 Repurchase agreements — triparty (1) 16,955 + 2,945 + 16,955 Federal agency obligations (2) Bought outright 140 0 - 109 Held under repurchase agreements 0 0 - 4,135 U.S. government securities (2) Bought outright—Bills 191,626 - 548 - 8,308 Notes (3) 228,869 + 1,256 + 19,098 Bonds (4) 87,335 + 30 + 9,451 Total bought outright (5) 507,830 + 737 + 20,241 Held under repurchase agreements 0 0 - 2,355 Total U.S. government securities 507,830 + 737 + 17,886 Total loans and securities 525,493 + 3,614 + 30,888 Items in process of collection (832) 7,390 - 614 + 698 Bank premises 1,413 0 + 84 Other assets (6) 34,382 + 504 + 2,066 TOTAL ASSETS (832) 584,640 + 3,532 + 30,152 LIABILITIES Federal Reserve notes 540,188 - 840 + 32,352 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 16,752 + 5,103 + 89 U.S. Treasury—general account 5,134 - 788 - 177 Foreign—official accounts 94 - 54 - 227 Other (0) 221 - 4 - 11 Total deposits (0) 22,201 + 4,256 - 327 Deferred availability cash items (832) 6,815 - 355 + 129 Other liabilities and accrued dividends (7) 4,888 + 455 + 551 TOTAL LIABILITIES (832) 574,092 + 3,517 + 32,705 CAPITAL ACCOUNTS Capital paid in 6,880 + 3 + 584 Surplus 2,679 0 - 3,273 Other capital accounts 988 + 11 + 135 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 $ 260 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 $ 17,213 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 845 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 26, 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 515 18,709 - 2,105 0 0 10,925 0 16 days to 90 days 54 107,688 + 321 10 0 6,030 0 91 days to 1 year 0 131,913 + 2,520 0 0 ——— ——— Over 1 year to 5 years ——— 126,927 0 10 0 ——— ——— Over 5 years to 10 years ——— 53,440 + 1 120 0 ——— ——— Over 10 years ——— 69,153 0 0 0 ——— ——— Total 568 507,830 + 737 140 0 16,955 0 1 Includes $ 5,792 million of inflation-indexed securities valued at the original face amount and $ 339 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 26, 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 71 5 2 0 6 1 5 1 4 9 9 7 9 3 8 8 4 0 2 7 5 5 6 7 66 Loans 56 8 0 3 1 0 0 1 5 13 0 9 7 16 0 8 7 2 5 50 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 16,95 5 0 16,95 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 191,62 6 11,00 1 73,96 8 7,98 1 10,72 4 11,24 9 12,75 5 22,92 1 7,27 9 80 7 6,38 6 5,67 0 20,885 Notes (3) 228,86 9 13,13 9 88,34 4 9,53 2 12,80 8 13,43 5 15,23 4 27,37 6 8,69 4 96 3 7,62 7 6,77 2 24,944 Bonds (4) 87,33 5 5,01 4 33,71 1 3,63 8 4,88 7 5,12 7 5,81 3 10,44 7 3,31 8 36 8 2,91 0 2,58 4 9,519 Total bought outright (5) 507,83 0 29,15 4 196,02 3 21,15 1 28,41 9 29,81 1 33,80 2 60,74 4 19,29 1 2,13 8 16,92 3 15,02 5 55,348 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 507,83 0 29,15 4 196,02 3 21,15 1 28,41 9 29,81 1 33,80 2 60,74 4 19,29 1 2,13 8 16,92 3 15,02 5 55,348 Total loans and securities 525,49 3 29,16 2 213,03 5 21,15 8 28,42 7 29,81 9 33,82 7 60,89 1 19,39 4 2,29 8 17,01 5 15,05 4 55,413 Items in process of collection 8,22 1 45 5 95 9 40 3 27 2 52 8 85 8 53 4 32 1 50 9 51 3 48 7 2,383 Bank premises 1,41 3 9 4 16 4 4 9 15 6 12 4 20 1 10 5 3 3 12 7 5 0 14 5 165 Other assets (6) 34,38 2 1,63 5 11,46 2 1,23 6 2,01 0 5,18 3 2,23 7 3,32 0 1,01 5 67 9 99 1 1,22 9 3,384 Interdistrict settlement account 0 + 2,05 7 +11,56 4 - 55 9 + 1,74 5 - 4 8 + 71 5 - 4,59 1 - 75 4 - 77 9 - 1,40 3 - 4,37 8 - 3,569 TOTAL ASSETS 585,47 1 34,17 7 243,34 2 22,91 0 33,37 7 36,73 3 39,05 1 61,81 6 20,54 3 3,07 8 17,68 6 13,30 5 59,453 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 $ 260 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 $ 17,213 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 845 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 26, 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 540,18 8 31,36 8 229,13 6 21,65 4 30,74 5 31,94 3 36,26 8 57,47 2 18,99 7 1,33 7 16,21 6 11,11 1 53,939 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 16,75 2 1,47 1 3,93 5 35 1 1,40 0 1,49 6 95 3 2,34 6 87 8 71 3 66 3 96 3 1,584 U.S. Treasury—general account 5,13 4 0 5,13 4 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 9 4 1 7 1 1 2 8 2 3 1 1 1 1 3 Other 22 1 2 13 5 1 4 6 8 0 7 1 0 2 1 1 Total deposits 22,20 1 1,47 4 9,27 5 35 2 1,40 6 1,57 2 95 5 2,35 5 87 9 71 4 66 5 96 4 1,588 Deferred credit items 7,64 6 63 1 92 6 37 4 29 3 49 6 75 1 54 1 23 2 48 9 35 9 26 4 2,291 Other liabilities and accrued dividends (2) 4,88 8 26 4 1,52 9 19 7 25 4 30 9 33 2 50 3 18 7 6 6 17 2 61 2 463 TOTAL LIABILITIES 574,92 3 33,73 7 240,86 6 22,57 8 32,69 8 34,32 0 38,30 6 60,87 2 20,29 5 2,60 6 17,41 2 12,95 2 58,281 CAPITAL ACCOUNTS Capital paid in 6,88 0 28 8 1,49 9 21 2 45 4 1,67 7 48 9 60 6 16 1 33 5 18 1 23 1 749 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 98 8 3 2 42 4 3 7 4 1 3 2 6 4 9 7 2 2 3 9 1 9 3 4 149 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 585,47 1 34,17 7 243,34 2 22,91 0 33,37 7 36,73 3 39,05 1 61,81 6 20,54 3 3,07 8 17,68 6 13,30 5 59,453 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 770,45 7 38,47 6 309,50 1 31,60 2 37,71 0 50,53 5 60,23 6 71,07 9 24,21 7 10,13 5 22,30 6 33,80 8 80,852 Less—Held by F.R. Banks 230,26 9 7,10 8 80,36 5 9,94 7 6,96 5 18,59 2 23,96 8 13,60 6 5,21 9 8,79 8 6,09 0 22,69 7 26,913 F.R. notes, net 540,18 8 31,36 8 229,13 6 21,65 4 30,74 5 31,94 3 36,26 8 57,47 2 18,99 7 1,33 7 16,21 6 11,11 1 53,939 Collateral held against F.R. notes Gold certificate account 11,046 Special drawing rights certificate account 4,200 Other eligible assets 17 U.S. govt. and agency securities (3) 524,925 Total collateral 540,188 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.