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 11, 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 10, 2000 May 3, 2000 May 12, 1999 May 10, 2000 Reserve Bank Credit 560,586 - 7,952 + 46,128 558,158 U.S. government securities (1) Bought outright-system account (2,3) 507,745 + 1,095 + 33,341 508,459 Held under repurchase agreements 0 0 - 1,962 0 Federal agency obligations (1) Bought outright 140 0 - 171 140 Held under repurchase agreements 0 0 - 3,466 0 Repurchase agreements -- triparty (4) 17,093 - 9,406 + 17,093 14,175 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 63 - 94 + 60 45 Seasonal credit 216 + 37 + 134 234 Extended credit 0 0 0 0 Float 586 + 368 - 335 233 Other F.R. assets 34,744 + 49 + 1,434 34,872 Gold stock 11,048 0 - 1 11,048 Special drawing rights certificate account 5,200 0 - 3,000 5,200 Treasury currency outstanding 28,673 + 14 + 1,887 28,673 Total factors supplying reserve funds 605,508 - 7,938 + 45,014 603,080 Currency in circulation* 564,197 + 290 + 41,782 565,557 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 205 + 2 + 58 205 Deposits,other than reserve balances,with F.R.Banks Treasury 9,068 - 5,371 + 3,761 9,769 Foreign 86 - 41 - 95 72 Service-related balances and adjustments (5) 6,979 + 174 - 35 6,979 Other 261 - 7 - 28 263 Other F.R. liabilities and capital 18,116 - 506 + 909 14,986 Total factors, other than reserve balances, absorbing reserve funds 598,912 - 5,458 + 46,352 597,831 Reserve balances with F.R. Banks (6) 6,596 - 2,480 - 1,337 5,249 On May 10, 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 $ 705,053 million, a change of $ - 5,925 million for the week. The total includes $ 619,151 million of U.S. government securities and $ 85,902 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 $ 16,072 million (daily average over statement week) and $ 15,364 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 16,072 million (daily average) and $ 15,364 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,097 million (daily average) and $ 1,321 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 $ 296 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 $ 6,484 million and adjustments of $ 495 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 10, 2000 May 3, 2000 May 12, 1999 ASSETS Gold certificate account 11,048 0 - 1 Special drawing rights certificate account 5,200 0 - 3,000 Coin 572 + 19 + 165 Loans 280 + 22 + 199 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 14,175 - 18,340 + 14,175 Federal agency obligations (2) Bought outright 140 0 - 171 Held under repurchase agreements 0 0 - 3,136 U.S. government securities (2) Bought outright--Bills 201,653 + 1,311 + 3,024 Notes (3) 221,038 + 8 + 18,944 Bonds (4) 85,768 + 3 + 10,576 Total bought outright (5) 508,459 + 1,322 + 32,545 Held under repurchase agreements (1) 0 0 - 1,463 Total U.S. government securities 508,459 + 1,322 + 31,082 Total loans and securities 523,053 - 16,997 + 42,148 Items in process of collection (998) 8,382 + 272 + 50 Bank premises 1,394 + 1 + 83 Other assets (6) 33,422 + 289 + 1,116 TOTAL ASSETS (998) 583,072 - 16,416 + 40,561 LIABILITIES Federal Reserve notes 537,660 + 572 + 39,994 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 12,863 - 14,753 - 2,852 U.S. Treasury--general account 9,769 + 1,742 + 5,674 Foreign--official accounts 72 + 1 - 106 Other (0) 263 0 - 19 Total deposits (0) 22,967 - 13,011 + 2,696 Deferred availability cash items (998) 7,459 - 697 + 88 Other liabilities and accrued dividends (7) 4,813 - 5 + 486 TOTAL LIABILITIES (998) 572,899 - 13,141 + 43,265 CAPITAL ACCOUNTS Capital paid in 6,765 + 10 + 561 Surplus 2,566 - 3,717 - 3,386 Other capital accounts 842 + 432 + 121 *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 $ 229 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 $ 67 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 15,364 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,321 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 10, 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 96 19,237 + 1,891 0 0 12,035 0 16 to 90 days 184 106,000 - 1,052 0 0 2,140 0 91 days to 1 year 0 138,345 + 471 10 0 ------ ------ Over 1 to 5 years 124,340 + 2 10 0 ------ ------ Over 5 to 10 years 52,397 + 6 120 0 ------ ------ Over 10 years 68,140 + 3 0 0 ------ ------ Total 280 508,459 + 1,322 140 0 14,175 0 1 Includes $ 5,792 million of inflation-indexed securities valued at the original face amount and $ 296 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 10, 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 572 22 37 21 30 77 66 69 37 32 51 65 66 Loans 280 0 0 0 0 22 5 62 51 58 49 1 32 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 14,175 0 14,175 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 201,653 11,577 77,838 8,399 11,285 11,837 13,423 24,121 7,660 849 6,720 5,966 21,978 Notes (3) 221,038 12,689 85,321 9,206 12,370 12,975 14,713 26,439 8,397 931 7,366 6,540 24,091 Bonds (4) 85,768 4,924 33,107 3,572 4,800 5,035 5,709 10,259 3,258 361 2,858 2,538 9,348 Total bought outright(5) 508,459 29,190 196,266 21,178 28,454 29,848 33,844 60,819 19,315 2,140 16,944 15,044 55,417 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 508,459 29,190 196,266 21,178 28,454 29,848 33,844 60,819 19,315 2,140 16,944 15,044 55,417 Total loans and securities 523,053 29,198 210,495 21,183 28,462 29,878 33,859 60,898 19,371 2,199 16,998 15,049 55,464 Items in process of collection 9,380 462 1,069 419 344 685 962 1,080 386 596 514 422 2,440 Bank premises 1,394 94 163 50 157 124 181 106 33 127 50 145 164 Other assets(5) 33,422 1,603 11,205 1,149 1,988 5,039 2,207 3,258 995 661 973 1,027 3,318 Interdistrict settlement account 0 + 1,105 +12,922 - 972 + 2,043 - 159 + 35 - 3,727 - 970 - 1,034 - 1,448 - 5,417 - 2,378 TOTAL ASSETS 584,070 33,289 242,388 22,461 33,790 36,740 38,504 63,250 20,378 2,810 17,633 12,037 60,790 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 $ 229 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 $ 67 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 15,364 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,321 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 10, 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 537,660 31,323 225,337 21,167 31,079 30,792 35,572 59,618 19,229 1,439 16,304 10,671 55,130 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 12,863 749 1,898 402 1,401 2,584 967 1,341 371 438 498 530 1,685 U.S. Treasury--general account 9,769 0 9,769 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 72 1 48 1 2 8 2 3 1 1 1 1 3 Other 263 1 142 0 8 105 1 1 0 0 1 1 2 Total deposits 22,967 751 11,857 403 1,411 2,697 970 1,345 372 439 501 531 1,690 Deferred credit items 8,457 490 1,073 365 359 638 877 780 328 483 368 333 2,363 Other liabilities and accrued dividends (2) 4,813 281 1,656 214 280 346 358 549 200 70 185 174 500 TOTAL LIABILITIES 573,897 32,846 239,923 22,150 33,129 34,473 37,776 62,292 20,129 2,431 17,358 11,708 59,683 CAPITAL ACCOUNTS Capital paid in 6,765 290 1,492 202 444 1,675 483 616 160 272 181 218 732 Surplus 2,566 120 552 83 185 592 192 241 66 98 75 88 275 Other capital accounts 842 33 420 26 32 0 53 101 23 10 21 23 100 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 584,070 33,289 242,388 22,461 33,790 36,740 38,504 63,250 20,378 2,810 17,633 12,037 60,790 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 781,394 39,902 312,888 30,732 38,915 50,663 59,730 73,602 24,796 10,498 22,927 34,412 82,330 Less--Held by F.R. Banks 243,734 8,579 87,551 9,565 7,836 19,872 24,158 13,984 5,568 9,058 6,623 23,741 27,200 F.R. notes, net 537,660 31,323 225,337 21,167 31,079 30,792 35,572 59,618 19,229 1,439 16,304 10,671 55,130 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) 521,412 Total collateral 537,660 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.