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. H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of F.R. Banks May 25, 2000 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 May 24, 2000 May 17, 2000 May 26, 1999 May 24, 2000 Reserve Bank Credit 552,640 - 3,763 + 37,469 555,202 U.S. government securities (1) Bought outright-system account (2,3) 507,682 - 671 + 27,374 509,115 Held under repurchase agreements 0 0 - 845 0 Federal agency obligations (1) Bought outright 140 0 - 171 140 Held under repurchase agreements 0 0 - 1,789 0 Repurchase agreements -- triparty (4) 11,116 - 3,207 + 11,116 12,530 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 154 + 88 + 146 128 Seasonal credit 324 + 64 + 218 356 Extended credit 0 0 0 0 Float 1,126 + 1,482 + 731 620 Other F.R. assets 32,099 - 1,519 + 690 32,313 Gold stock 11,048 0 0 11,048 Special drawing rights certificate account 5,200 0 - 3,000 5,200 Treasury currency outstanding 28,871 + 14 + 2,026 28,871 Total factors supplying reserve funds 597,760 - 3,749 + 36,497 600,321 Currency in circulation* 564,458 - 261 + 40,668 566,265 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 204 - 1 + 62 183 Deposits,other than reserve balances,with F.R.Banks Treasury 5,114 - 310 + 226 4,942 Foreign 78 - 43 - 173 76 Service-related balances and adjustments (5) 6,788 - 71 - 166 6,788 Other 253 - 1 - 16 249 Other F.R. liabilities and capital 15,339 + 48 - 2,014 15,019 Total factors, other than reserve balances, absorbing reserve funds 592,234 - 639 + 38,588 593,522 Reserve balances with F.R. Banks (6) 5,525 - 3,110 - 2,092 6,799 On May 24, 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 $ 698,862 million, a change of $ - 8,561 million for the week. The total includes $ 614,294 million of U.S. government securities and $ 84,568 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 $ 16,685 million (daily average over statement week) and $ 15,258 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 15,823 million (daily average) and $ 15,258 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,342 million (daily average) and $ 861 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 $ 319 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 $ 6,436 million and adjustments of $ 352 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. Worksheet for H.4.1 (a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS Millions of Dollars Change Since * Wednesday Wednesday Wednesday May 24, 2000 May 17, 2000 May 26, 1999 ASSETS Gold certificate account 11,048 0 0 Special drawing rights certificate account 5,200 0 - 3,000 Coin 574 - 14 + 193 Loans 484 + 53 + 365 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 12,530 - 2,090 + 12,530 Federal agency obligations (2) Bought outright 140 0 - 171 Held under repurchase agreements 0 0 - 3,522 U.S. government securities (2) Bought outright--Bills 201,758 + 1,187 + 4,699 Notes (3) 222,569 + 9 + 16,444 Bonds (4) 84,788 + 3 + 7,255 Total bought outright (5) 509,115 + 1,199 + 28,397 Held under repurchase agreements (1) 0 0 - 2,476 Total U.S. government securities 509,115 + 1,199 + 25,921 Total loans and securities 522,269 - 838 + 35,124 Items in process of collection (878) 7,179 - 687 + 80 Bank premises 1,394 - 1 + 78 Other assets (6) 30,927 + 366 + 412 TOTAL ASSETS (878) 578,592 - 1,174 + 32,888 LIABILITIES Federal Reserve notes 538,151 + 868 + 38,022 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 13,258 - 1,305 - 2,724 U.S. Treasury--general account 4,942 + 19 - 159 Foreign--official accounts 76 - 50 - 135 Other (0) 249 - 11 + 14 Total deposits (0) 18,524 - 1,348 - 3,005 Deferred availability cash items (878) 6,897 - 705 - 30 Other liabilities and accrued dividends (7) 4,734 - 10 + 549 TOTAL LIABILITIES (878) 568,306 - 1,194 + 35,537 CAPITAL ACCOUNTS Capital paid in 6,777 + 12 + 539 Surplus 2,639 + 45 - 3,313 Other capital accounts 870 - 36 + 125 *Figures in parentheses are the eliminations made in the consolidation process. 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 $ 246 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 $ 73 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 15,258 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 861 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. Components may not add to totals due to rounding. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, May 24, 2000 Holdings of securities include securitites held under repurchase agreements, which are classified according to remaining maturity. Millions of dollars U.S. government Federal agency Reverse Loans securities (1,2) obligations(2) Repurchase Repurchase Weekly Weekly Agreements Agreements Holdings changes Holdings changes Triparty(3) Triparty(3) Within 15 days 454 20,887 + 3,395 0 0 6,130 0 16 to 90 days 31 108,146 + 2,783 0 0 6,400 0 91 days to 1 year 0 133,902 - 4,990 10 0 ------ ------ Over 1 to 5 years 125,254 + 1 10 0 ------ ------ Over 5 to 10 years 53,428 + 6 120 0 ------ ------ Over 10 years 67,497 + 3 0 0 ------ ------ Total 484 509,115 + 1,199 140 0 12,530 0 1 Includes $ 5,792 million of inflation-indexed securities valued at the original face amount and $ 319 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 May 24, 2000 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco ASSETS Gold certificate account 11,048 535 4,430 414 520 750 802 1,064 359 158 340 514 1,162 Special drawing rights certif. acct. 5,200 271 2,065 196 246 346 393 502 167 72 156 232 554 Coin 574 21 42 32 31 76 71 65 35 32 48 60 61 Loans 484 8 22 0 0 1 7 115 74 81 46 103 27 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 12,530 0 12,530 0 0 0 0 0 0 0 0 0 0 Federal agency obligations(2) Bought outright 140 8 54 6 8 8 9 17 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 201,758 11,583 77,879 8,403 11,291 11,844 13,430 24,133 7,664 849 6,724 5,970 21,989 Notes (3) 222,569 12,777 85,912 9,270 12,455 13,065 14,815 26,623 8,455 937 7,417 6,585 24,258 Bonds (4) 84,788 4,868 32,728 3,531 4,745 4,977 5,644 10,142 3,221 357 2,826 2,509 9,241 Total bought outright(5) 509,115 29,227 196,519 21,205 28,491 29,886 33,888 60,898 19,340 2,143 16,966 15,063 55,488 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 509,115 29,227 196,519 21,205 28,491 29,886 33,888 60,898 19,340 2,143 16,966 15,063 55,488 Total loans and securities 522,269 29,243 209,125 21,211 28,498 29,895 33,905 61,029 19,420 2,225 17,017 15,171 55,530 Items in process of collection 8,057 507 1,055 360 332 532 796 612 368 599 510 256 2,130 Bank premises 1,394 94 164 50 157 124 182 105 33 127 50 145 165 Other assets(5) 30,927 1,457 10,288 1,044 1,843 4,892 2,027 2,950 900 649 888 949 3,040 Interdistrict settlement account 0 + 1,359 +10,747 - 564 + 1,355 - 556 + 644 - 3,283 - 953 - 1,168 - 1,189 - 5,175 - 1,216 TOTAL ASSETS 579,470 33,487 237,916 22,742 32,983 36,059 38,820 63,044 20,329 2,695 17,820 12,151 61,425 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 $ 246 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 $ 73 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 15,258 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 861 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 May 24, 2000 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco LIABILITIES Federal Reserve notes 538,151 31,218 225,973 21,489 30,892 31,203 35,828 59,067 19,119 1,447 16,267 10,770 54,878 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 13,258 982 1,684 399 827 1,506 1,064 1,864 468 373 736 618 2,735 U.S. Treasury--general account 4,942 0 4,942 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 76 1 52 1 2 8 2 3 1 1 1 1 3 Other 249 0 138 0 8 96 0 1 0 0 3 0 1 Total deposits 18,524 984 6,817 400 837 1,610 1,066 1,867 469 374 739 620 2,739 Deferred credit items 7,775 563 1,040 331 309 562 840 624 294 420 358 260 2,173 Other liabilities and accrued dividends (2) 4,734 278 1,629 210 273 343 354 537 196 69 181 172 492 TOTAL LIABILITIES 569,184 33,044 235,459 22,431 32,311 33,719 38,087 62,095 20,079 2,311 17,545 11,821 60,283 CAPITAL ACCOUNTS Capital paid in 6,777 290 1,499 202 450 1,676 484 609 161 273 181 221 732 Surplus 2,639 120 552 83 185 664 192 241 66 98 75 88 275 Other capital accounts 870 33 406 26 36 0 57 99 23 13 20 22 135 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 579,470 33,487 237,916 22,742 32,983 36,059 38,820 63,044 20,329 2,695 17,820 12,151 61,425 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 779,181 39,492 312,253 31,082 38,538 50,574 60,058 73,043 24,669 10,409 22,749 34,373 81,940 Less--Held by F.R. Banks 241,030 8,274 86,280 9,593 7,645 19,371 24,230 13,976 5,550 8,962 6,483 23,603 27,062 F.R. notes, net 538,151 31,218 225,973 21,489 30,892 31,203 35,828 59,067 19,119 1,447 16,267 10,770 54,878 Collateral held against F.R. notes Gold certificate account 11,048 Special drawing rights certificate account 5,200 Other eligible assets 118 U.S. govt. and agency securities(3) 521,785 Total collateral 538,151 1 Cash value of agreements arranged through third-party custodial banks. These agreements are collateralized by U.S. government and federal 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.