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. September 28, 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 Sep 27, 2000 Sep 20, 2000 Sep 29, 1999 Sep 27, 2000 Reserve Bank Credit 558,798 - 3,402 + 21,412 561,563 U.S. government securities (1) Bought outright-system account (2,3) 511,153 + 2,140 + 21,187 512,472 Held under repurchase agreements 0 0 - 2,871 0 Federal agency obligations (1) Bought outright 130 0 - 108 130 Held under repurchase agreements 0 0 - 9,728 0 Repurchase agreements — triparty (4) 11,425 - 5,861 + 11,425 12,170 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 18 - 117 - 83 7 Seasonal credit 398 + 14 + 94 407 Extended credit 0 0 0 0 Float 683 - 286 + 484 648 Other F.R. assets 34,991 + 707 + 1,012 35,728 Gold stock 11,046 0 - 2 11,046 Special drawing rights certificate account 3,200 - 143 - 4,000 3,200 Treasury currency outstanding 30,395 + 14 + 2,968 30,395 Total factors supplying reserve funds 603,439 - 3,531 + 20,378 606,204 Currency in circulation* 567,984 - 1,338 + 25,417 569,307 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 177 + 13 + 84 184 Deposits, other than reserve balances, with F.R. Banks Treasury 7,357 - 1,217 - 46 7,986 Foreign 77 - 9 - 141 75 Service-related balances and adjustments (5) 6,897 + 424 - 426 6,897 Other 242 + 43 + 19 189 Other F.R. liabilities and capital 15,333 + 72 - 3,273 15,034 Total factors, other than reserve balances, absorbing reserve funds 598,067 - 2,012 + 21,633 599,671 Reserve balances with F.R. Banks (6) 5,372 - 1,519 - 1,255 6,533 On September 27, 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 $ 698,460 million, a change of $ - 8,555 million for the week. The total includes $ 602,815 million of U.S. government securities and $ 95,645 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 $ 16,393 million (daily average over statement week) and $ 15,594 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 16,393 million (daily average) and $ 15,594 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 388 million (daily average) and $ 116 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 6,395 million of inflation-indexed securities valued at the original face amount and $ 430 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 $ 6,299 million and adjustments of $ 598 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 Sep 27, 2000 Sep 20, 2000 Sep 29, 1999 ASSETS Gold certificate account 11,046 0 - 2 Special drawing rights certificate account 3,200 0 - 4,000 Coin 790 + 25 + 503 Loans 414 - 886 - 4 Acceptances 0 0 0 Repurchase agreements — triparty (1) 12,170 - 7,715 + 12,170 Federal agency obligations (2) Bought outright 130 0 - 108 Held under repurchase agreements 0 0 - 11,183 U.S. government securities (2) Bought outright—Bills 185,416 + 1,384 - 13,749 Notes (3) 235,724 + 468 + 23,923 Bonds (4) 91,332 + 185 + 11,279 Total bought outright (5) 512,472 + 2,038 + 21,453 Held under repurchase agreements 0 0 - 5,220 Total U.S. government securities 512,472 + 2,038 + 16,233 Total loans and securities 525,186 - 6,564 + 17,108 Items in process of collection (758) 7,072 - 791 + 94 Bank premises 1,425 + 3 + 88 Other assets (6) 34,403 + 1,126 + 1,394 TOTAL ASSETS (758) 583,123 - 6,200 + 15,186 LIABILITIES Federal Reserve notes 539,886 - 88 + 22,687 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 13,027 - 6,314 - 3,969 U.S. Treasury—general account 7,986 + 573 - 246 Foreign—official accounts 75 + 9 - 116 Other (0) 189 - 3 - 2 Total deposits (0) 21,276 - 5,736 - 4,333 Deferred availability cash items (758) 6,927 - 407 + 284 Other liabilities and accrued dividends (7) 4,338 + 10 - 674 TOTAL LIABILITIES (758) 572,427 - 6,221 + 17,963 CAPITAL ACCOUNTS Capital paid in 6,949 + 14 + 620 Surplus 2,679 0 - 3,273 Other capital accounts 1,067 + 7 - 125 1 Cash value of agreements arranged through third-party custodial banks. 2 Face value of the securities. 3 Includes $ 4,857 million of inflation-indexed securities valued at the original face amount and $ 340 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 $ 91 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 15,594 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 116 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, September 27, 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 365 19,796 + 2,658 0 0 8,220 0 16 days to 90 days 49 107,557 - 1,460 0 0 3,950 0 91 days to 1 year 0 128,442 + 186 0 0 ——— ——— Over 1 year to 5 years ——— 131,987 + 650 30 0 ——— ——— Over 5 years to 10 years ——— 53,527 + 2 100 0 ——— ——— Over 10 years ——— 71,162 0 0 0 ——— ——— Total 414 512,472 + 2,038 130 0 12,170 0 1 Includes $ 6,395 million of inflation-indexed securities valued at the original face amount and $ 430 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 September 27, 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. 3,20 0 16 7 1,27 1 12 0 15 1 21 3 24 2 30 9 10 3 4 4 9 6 14 3 341 Coin 79 0 2 1 6 7 4 8 5 0 10 1 10 6 9 9 4 4 2 5 5 7 6 5 107 Loans 41 4 0 0 2 0 0 1 6 9 1 8 9 10 3 8 8 1 3 13 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 12,17 0 0 12,17 0 0 0 0 0 0 0 0 0 0 0 Federal agency obligations (2) Bought outright 13 0 7 5 0 5 7 8 9 1 6 5 1 4 4 14 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 185,41 6 10,64 4 71,57 1 7,72 3 10,37 6 10,88 4 12,34 2 22,17 9 7,04 3 78 1 6,17 9 5,48 6 20,208 Notes (3) 235,72 4 13,53 3 90,99 0 9,81 8 13,19 1 13,83 8 15,69 0 28,19 6 8,95 4 99 2 7,85 5 6,97 5 25,691 Bonds (4) 91,33 2 5,24 3 35,25 4 3,80 4 5,11 1 5,36 1 6,07 9 10,92 5 3,46 9 38 4 3,04 4 2,70 2 9,954 Total bought outright (5) 512,47 2 29,42 0 197,81 5 21,34 5 28,67 8 30,08 3 34,11 1 61,29 9 19,46 7 2,15 7 17,07 8 15,16 3 55,854 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 512,47 2 29,42 0 197,81 5 21,34 5 28,67 8 30,08 3 34,11 1 61,29 9 19,46 7 2,15 7 17,07 8 15,16 3 55,854 Total loans and securities 525,18 6 29,42 8 210,03 5 21,35 2 28,68 6 30,09 1 34,13 6 61,40 6 19,56 2 2,26 1 17,17 0 15,17 9 55,881 Items in process of collection 7,83 0 36 8 96 1 34 7 27 3 62 5 83 0 61 3 32 9 54 9 46 9 42 6 2,041 Bank premises 1,42 5 9 3 16 6 4 9 15 6 12 5 21 9 10 4 3 3 12 6 4 9 13 8 165 Other assets (6) 34,40 3 1,64 3 11,55 2 1,24 5 2,01 9 5,22 2 2,24 8 3,33 4 1,01 7 68 4 99 5 1,05 0 3,395 Interdistrict settlement account 0 + 52 4 +17,05 2 - 88 5 + 95 9 - 40 5 + 1,98 9 - 5,94 5 - 1,30 7 - 1,07 3 - 1,33 4 - 5,29 0 - 4,287 TOTAL ASSETS 583,88 1 32,77 8 245,53 2 22,69 0 32,81 4 36,72 2 40,57 3 60,98 5 20,13 9 2,77 5 17,84 2 12,22 5 58,806 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 $ 4,857 million of inflation-indexed securities valued at the original face amount and $ 340 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 $ 91 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 15,594 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 116 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 September 27, 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 539,88 6 30,71 6 230,56 0 21,29 1 30,65 5 32,33 3 37,60 2 56,88 8 19,03 9 1,13 9 16,27 3 10,80 5 52,586 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 13,02 7 67 8 1,99 7 55 8 81 7 1,00 5 92 6 2,07 3 50 1 60 0 75 5 68 8 2,428 U.S. Treasury—general account 7,98 6 0 7,98 6 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 7 5 1 5 1 1 2 8 2 3 1 1 1 1 3 Other 18 9 0 14 0 1 4 3 2 0 4 1 0 4 1 1 Total deposits 21,27 6 68 0 10,17 3 55 9 82 3 1,04 6 92 8 2,08 0 50 2 60 2 76 0 69 0 2,432 Deferred credit items 7,68 5 52 5 86 9 31 5 36 5 61 1 96 1 56 9 19 6 47 7 37 1 28 2 2,145 Other liabilities and accrued dividends (2) 4,33 8 25 9 1,47 5 19 4 24 9 31 4 33 1 49 1 18 1 7 0 16 9 15 8 448 TOTAL LIABILITIES 573,18 5 32,17 9 243,07 7 22,35 8 32,09 2 34,30 4 39,82 2 60,02 7 19,91 8 2,28 8 17,57 4 11,93 5 57,613 CAPITAL ACCOUNTS Capital paid in 6,94 9 36 8 1,49 2 21 2 48 0 1,68 0 49 1 61 3 13 6 35 7 17 5 18 7 757 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 1,06 7 11 0 41 1 3 7 5 7 3 3 6 9 10 4 1 9 3 2 1 9 1 6 160 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 583,88 1 32,77 8 245,53 2 22,69 0 32,81 4 36,72 2 40,57 3 60,98 5 20,13 9 2,77 5 17,84 2 12,22 5 58,806 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 765,04 3 37,44 2 306,05 6 31,89 5 37,35 9 52,50 6 61,64 8 70,26 7 23,85 8 9,88 1 21,85 1 33,16 1 79,120 Less—Held by F.R. Banks 225,15 7 6,72 7 75,49 6 10,60 5 6,70 4 20,17 3 24,04 6 13,37 9 4,81 9 8,74 2 5,57 8 22,35 6 26,533 F.R. notes, net 539,88 6 30,71 6 230,56 0 21,29 1 30,65 5 32,33 3 37,60 2 56,88 8 19,03 9 1,13 9 16,27 3 10,80 5 52,586 Collateral held against F.R. notes Gold certificate account 11,046 Special drawing rights certificate account 3,200 Other eligible assets 869 U.S. govt. and agency securities (3) 524,772 Total collateral 539,886 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.