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

FEDERAL RESERVE

 May 25, 2000

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 Federal Reserve Banks

Millions of dollars

Averages of daily figures

Reserve balances of depository institutions at

F.R. Banks, Reserve Bank credit, and related items

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.

Change from week ended Wednesday

May 24, 2000 Week ended

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 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 ( 8 7 8 ) 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 ( 8 7 8 ) 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

H.4.1(a)

Consolidated Statement of Condition of all Federal Reserve Banks

Millions of dollars

Change Since

Wednesday

May 26, 1999

Eliminations from

Consolidation Wednesday

May 24, 2000

Wednesday

May 17, 2000

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.

Maturity Distribution of Loans and Securities, May 24, 2000

Millions of dollars

 Federal agency

obligations(2)

Weekly

changes Holdings

 U.S. government

securities (1,2)

Holdings Weekly

changes

Loans

Repurchase

Agreements—

Triparty (3)

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.

Reverse

Repurchase

Agreements—

Triparty (3)

Within 15 days 454 20,887 + 3,395 0 0 6,130 0

16 days 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 year to 5 years ——— 125,254 + 1 10 0 ——— ———

 Over 5 years 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
 535

 271 21 8 0 0 8 0 11,583 12,777 4,868 29,227 0 29,227 29,243 507 94 1,457 + 1,359 33,487

f Each Federal Reserve Bank on May 24, 2000

Dallas San Francisco Kansas City Total Boston Cleveland Richmond Atlanta Chicago St. Louis New York Philadelphia Minneapolis

 through third-party custodial banks. These agreements are collateralized by U.S. government and federal agency securities.

on-indexed securities valued at the original face amount and $ 246 million of compensation that adjusts for the effects of inflation on the

on-indexed securities valued at the original face amount and $ 73 million of compensation that adjusts for the effects of inflation on the

sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 861 million that are fully

ent securities.

ign currencies, revalued monthly at market exchange rates.

to rounding.

 11,048 5,200 574 484 0 12,530 140 0 201,758 222,569 84,788 509,115 0 509,115 522,269 8,057 1,394 30,927 0 579,470

 4,430 2,065 42 22 0 12,530 54 0 77,879 85,912 32,728 196,519 0 196,519 209,125 1,055 164 10,288 +10,747 237,916

 414 196 32 0 0 0 6 0 8,403 9,270 3,531 21,205 0 21,205 21,211 360 50 1,044 - 564 22,742

 520 246 31 0 0 0 8 0 11,291 12,455 4,745 28,491 0 28,491 28,498 332 157 1,843 + 1,355 32,983

 750 346 76 1 0 0 8 0 11,844 13,065 4,977 29,886 0 29,886 29,895 532 124 4,892 - 556 36,059

 802 393 71 7 0 0 9 0 13,430 14,815 5,644 33,888 0 33,888 33,905 796 182 2,027 + 644 38,820

 1,064 502 65 115 0 0 17 0 24,133 26,623 10,142 60,898 0 60,898 61,029 612 105 2,950 - 3,283 63,044

 359 167 35 74 0 0 5 0 7,664 8,455 3,221 19,340 0 19,340 19,420 368 33 900 - 953 20,329

 158 72 32 81 0 0 1 0 849 937 357 2,143 0 2,143 2,225 599 127 649 - 1,168 2,695

 340 156 48 46 0 0 5 0 6,724 7,417 2,826 16,966 0 16,966 17,017 510 50 888 - 1,189 17,820

 514 232 60 103 0 0 4 0 5,970 6,585 2,509 15,063 0 15,063 15,171 256 145 949 - 5,175 12,151

 1,162 554 61 27 0 0 15 0 21,989 24,258 9,241 55,488 0 55,488 55,530 2,130 165 3,040 - 1,216 61,425
f Each Federal Reserve Bank on May 24, 2000

Dallas San Francisco Kansas City Total Boston Cleveland Richmond Atlanta Chicago St. Louis New York Philadelphia Minneapolis

(1)

TS

 through third-party custodial banks. These agreements are collateralized by U.S. government and agency securities.

nt reflecting the monthly revaluation at market exchange rates of foreign exchange commitments.

ies bought outright or held under repurchase agreement are valued at face amount. Includes cash value of repurchase agreements under triparty

value of securities pledged under reverse repurchase agreements.

to rounding.

 538,151 0 13,258 4,942 76 249 18,524 7,775 4,734 569,184 6,777 2,639 870 579,470 779,181 241,030 538,151 11,048 5,200 118 521,785 538,151

 31,218 0 982 0 1 0 984 563 278 33,044 290 120 33 33,487 39,492 8,274 31,218

 225,973 0 1,684 4,942 52 138 6,817 1,040 1,629 235,459 1,499 552 406 237,916 312,253 86,280 225,973

 21,489 0 399 0 1 0 400 331 210 22,431 202 83 26 22,742 31,082 9,593 21,489

 30,892 0 827 0 2 8 837 309 273 32,311 450 185 36 32,983 38,538 7,645 30,892

 31,203 0 1,506 0 8 96 1,610 562 343 33,719 1,676 664 0 36,059 50,574 19,371 31,203

 35,828 0 1,064 0 2 0 1,066 840 354 38,087 484 192 57 38,820 60,058 24,230 35,828

 59,067 0 1,864 0 3 1 1,867 624 537 62,095 609 241 99 63,044 73,043 13,976 59,067

 19,119 0 468 0 1 0 469 294 196 20,079 161 66 23 20,329 24,669 5,550 19,119

 1,447 0 373 0 1 0 374 420 69 2,311 273 98 13 2,695 10,409 8,962 1,447

 16,267 0 736 0 1 3 739 358 181 17,545 181 75 20 17,820 22,749 6,483 16,267

 10,770 0 618 0 1 0 620 260 172 11,821 221 88 22 12,151 34,373 23,603 10,770

 54,878 0 2,735 0 3 1 2,739 2,173 492 60,283 732 275 135 61,425 81,940 27,062 54,878