<TABLE> <S> <C>

<PAGE>
<ARTICLE>                                            9

<LEGEND>
This schedule contains summary financial information extracted from the Balance
Sheet and Statement of Income included in the Company's Form 10-K for the period
ended December 31, 1999.
</LEGEND>
<CIK>                         0001027283
<NAME>                        CALIFORNIA FEDERAL PREFERRED CAPITAL CORPORATION
<MULTIPLIER>                                   1,000
<CURRENCY>                                     USD

<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               DEC-31-1999
<EXCHANGE-RATE>                                      1
<CASH>                                               0
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                      5,485
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                        975,169
<ALLOWANCE>                                      7,883
<TOTAL-ASSETS>                                 996,522
<DEPOSITS>                                           0
<SHORT-TERM>                                         0
<LIABILITIES-OTHER>                                341
<LONG-TERM>                                          0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    500,000
<COMMON>                                             0
<OTHER-SE>                                     496,181
<TOTAL-LIABILITIES-AND-EQUITY>                 996,522
<INTEREST-LOAN>                                 64,439
<INTEREST-INVEST>                                  964
<INTEREST-OTHER>                                     0
<INTEREST-TOTAL>                                65,403
<INTEREST-DEPOSIT>                                   0
<INTEREST-EXPENSE>                                   0
<INTEREST-INCOME-NET>                           65,403
<LOAN-LOSSES>                                        0
<SECURITIES-GAINS>                                   0
<EXPENSE-OTHER>                                   (22)
<INCOME-PRETAX>                                 65,425
<INCOME-PRE-EXTRAORDINARY>                      65,481
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    65,481<F1>
<EPS-BASIC>                                          0
<EPS-DILUTED>                                        0
<YIELD-ACTUAL>                                    6.45
<LOANS-NON>                                      1,042
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                 8,413
<CHARGE-OFFS>                                      530
<RECOVERIES>                                         0
<ALLOWANCE-CLOSE>                                7,883
<ALLOWANCE-DOMESTIC>                                 0
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                          7,685


<FN>
<F1>
Net income available to common stockholder: $19,856
</FN>


</TABLE>