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 18, 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 17, 2000 May 10, 2000 May 19, 1999 May 17, 2000 Reserve Bank Credit 556,399 - 4,194 + 37,455 553,919 U.S. government securities (1) Bought outright-system account (2,3) 508,353 + 608 + 32,174 507,916 Held under repurchase agreements 0 0 - 4,079 0 Federal agency obligations (1) Bought outright 140 0 - 171 140 Held under repurchase agreements 0 0 - 5,160 0 Repurchase agreements -- triparty (4) 14,323 - 2,770 + 14,323 14,620 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 66 + 3 + 33 146 Seasonal credit 260 + 44 + 173 285 Extended credit 0 0 0 0 Float -354 - 947 - 655 -1,083 Other F.R. assets 33,612 - 1,132 + 818 31,895 Gold stock 11,048 0 - 1 11,048 Special drawing rights certificate account 5,200 0 - 3,000 5,200 Treasury currency outstanding 28,857 + 14 + 2,041 28,857 Total factors supplying reserve funds 601,505 - 4,179 + 36,497 599,025 Currency in circulation* 564,719 + 353 + 41,596 565,344 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 205 0 + 58 207 Deposits,other than reserve balances,with F.R.Banks Treasury 5,424 - 3,644 + 267 4,923 Foreign 121 + 35 - 74 126 Service-related balances and adjustments (5) 6,859 - 110 + 80 6,859 Other 254 - 7 - 39 260 Other F.R. liabilities and capital 15,291 - 2,825 - 2,180 15,009 Total factors, other than reserve balances, absorbing reserve funds 592,873 - 6,198 + 39,708 592,728 Reserve balances with F.R. Banks (6) 8,631 + 2,018 - 3,212 6,297 On May 17, 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 $ 707,423 million, a change of $ + 2,370 million for the week. The total includes $ 623,359 million of U.S. government securities and $ 84,063 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 $ 15,927 million (daily average over statement week) and $ 16,445 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 15,927 million (daily average) and $ 16,445 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 2,709 million (daily average) and $ 4,177 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 $ 308 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 $ 6,474 million and adjustments of $ 385 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 17, 2000 May 10, 2000 May 19, 1999 ASSETS Gold certificate account 11,048 0 0 Special drawing rights certificate account 5,200 0 - 3,000 Coin 588 + 16 + 182 Loans 431 + 151 + 330 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 14,620 + 445 + 14,620 Federal agency obligations (2) Bought outright 140 0 - 171 Held under repurchase agreements 0 0 - 5,648 U.S. government securities (2) Bought outright--Bills 200,571 - 1,082 + 3,930 Notes (3) 222,560 + 1,522 + 18,595 Bonds (4) 84,785 - 983 + 8,056 Total bought outright (5) 507,916 - 543 + 30,581 Held under repurchase agreements (1) 0 0 - 4,785 Total U.S. government securities 507,916 - 543 + 25,796 Total loans and securities 523,107 + 54 + 34,928 Items in process of collection (1,065) 7,866 - 516 - 175 Bank premises 1,395 + 1 + 80 Other assets (6) 30,561 - 2,861 + 631 TOTAL ASSETS (1,065) 579,766 - 3,306 + 32,648 LIABILITIES Federal Reserve notes 537,283 - 377 + 39,419 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 14,563 + 1,700 - 4,766 U.S. Treasury--general account 4,923 - 4,846 + 140 Foreign--official accounts 126 + 54 - 62 Other (-1) 260 - 3 - 45 Total deposits (-1) 19,872 - 3,095 - 4,733 Deferred availability cash items (1,066) 7,602 + 143 + 197 Other liabilities and accrued dividends (7) 4,744 - 69 + 426 TOTAL LIABILITIES (1,065) 569,500 - 3,399 + 35,309 CAPITAL ACCOUNTS Capital paid in 6,765 0 + 552 Surplus 2,594 + 28 - 3,358 Other capital accounts 906 + 64 + 144 *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 $ 237 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 $ 70 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 16,445 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 4,177 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 17, 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 404 17,492 - 1,745 0 0 8,470 0 16 to 90 days 27 105,363 - 637 0 0 6,150 0 91 days to 1 year 0 138,892 + 547 10 0 ------ ------ Over 1 to 5 years 125,253 + 913 10 0 ------ ------ Over 5 to 10 years 53,422 + 1,025 120 0 ------ ------ Over 10 years 67,494 - 646 0 0 ------ ------ Total 431 507,916 - 543 140 0 14,620 0 1 Includes $ 5,792 million of inflation-indexed securities valued at the original face amount and $ 308 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 17, 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 588 22 41 28 34 80 70 67 36 33 50 62 65 Loans 431 5 8 0 0 0 7 95 63 64 51 97 41 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 14,620 0 14,620 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 200,571 11,514 77,421 8,354 11,224 11,774 13,351 23,991 7,619 844 6,684 5,934 21,860 Notes (3) 222,560 12,777 85,909 9,270 12,455 13,065 14,814 26,622 8,454 937 7,417 6,585 24,257 Bonds (4) 84,785 4,867 32,727 3,531 4,745 4,977 5,643 10,141 3,221 357 2,825 2,509 9,241 Total bought outright(5) 507,916 29,159 196,057 21,155 28,424 29,816 33,808 60,754 19,294 2,138 16,926 15,028 55,357 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 507,916 29,159 196,057 21,155 28,424 29,816 33,808 60,754 19,294 2,138 16,926 15,028 55,357 Total loans and securities 523,107 29,172 210,738 21,161 28,431 29,824 33,825 60,866 19,362 2,203 16,982 15,129 55,414 Items in process of collection 8,931 645 1,195 423 317 540 913 866 514 563 503 253 2,200 Bank premises 1,395 94 163 50 157 124 182 105 33 127 50 145 165 Other assets(5) 30,561 1,515 10,092 1,027 1,822 4,866 2,000 2,906 885 645 874 934 2,995 Interdistrict settlement account 0 + 1,390 +10,342 - 836 + 2,074 - 885 + 101 - 2,196 - 897 - 821 - 1,049 - 4,774 - 2,450 TOTAL ASSETS 580,831 33,644 239,067 22,463 33,601 35,644 38,285 64,181 20,460 2,980 17,905 12,496 60,104 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 $ 237 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 $ 70 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 16,445 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 4,177 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 17, 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 537,283 31,354 226,185 21,127 31,071 30,964 35,072 59,507 19,124 1,441 16,261 10,596 54,580 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 14,563 930 2,498 432 1,103 1,245 1,186 2,525 505 569 803 1,048 1,718 U.S. Treasury--general account 4,923 0 4,923 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 126 1 102 1 2 8 2 3 1 1 1 1 3 Other 259 1 141 0 8 100 3 0 0 0 2 0 1 Total deposits 19,871 933 7,664 434 1,114 1,353 1,191 2,528 506 571 806 1,049 1,723 Deferred credit items 8,668 636 1,111 379 474 691 931 648 380 517 378 352 2,170 Other liabilities and accrued dividends (2) 4,744 277 1,637 211 274 342 354 540 196 69 181 170 492 TOTAL LIABILITIES 570,565 33,201 236,598 22,150 32,932 33,350 37,548 63,224 20,206 2,598 17,626 12,168 58,964 CAPITAL ACCOUNTS Capital paid in 6,765 290 1,492 202 450 1,675 484 609 161 272 181 218 732 Surplus 2,594 120 552 83 185 619 192 241 66 98 75 88 275 Other capital accounts 906 34 424 28 33 0 62 108 27 11 23 23 133 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 580,831 33,644 239,067 22,463 33,601 35,644 38,285 64,181 20,460 2,980 17,905 12,496 60,104 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 780,420 39,815 313,201 30,762 38,867 50,625 59,401 73,522 24,740 10,459 22,866 34,262 81,898 Less--Held by F.R. Banks 243,137 8,461 87,016 9,636 7,796 19,662 24,329 14,015 5,615 9,018 6,605 23,666 27,319 F.R. notes, net 537,283 31,354 226,185 21,127 31,071 30,964 35,072 59,507 19,124 1,441 16,261 10,596 54,580 Collateral held against F.R. notes Gold certificate account 11,048 Special drawing rights certificate account 5,200 Other eligible assets 0 U.S. govt. and agency securities(3) 521,034 Total collateral 537,283 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.