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

FEDERAL RESERVE

 May 18, 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 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.

Change from week ended Wednesday

May 17, 2000 Week ended

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 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

H.4.1(a)

Consolidated Statement of Condition of all Federal Reserve Banks

Millions of dollars

Change Since

Wednesday

May 19, 1999

Eliminations from

Consolidation Wednesday

May 17, 2000

Wednesday

May 10, 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 $ 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.

Maturity Distribution of Loans and Securities, May 17, 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 $ 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.

Reverse

Repurchase

Agreements—

Triparty (3)

Within 15 days 404 17,492 - 1,745 0 0 8,470 0

16 days 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 year to 5 years ——— 125,253 + 913 10 0 ——— ———

 Over 5 years 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
 535

 271 22 5 0 0 8 0 11,514 12,777 4,867 29,159 0 29,159 29,172 645 94 1,515 + 1,390 33,644

f Each Federal Reserve Bank on May 17, 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 $ 237 million of compensation that adjusts for the effects of inflation on the

on-indexed securities valued at the original face amount and $ 70 million of compensation that adjusts for the effects of inflation on the

ale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 4,177 million that are fully

ent securities.

ign currencies, revalued monthly at market exchange rates.

to rounding.

 11,048 5,200 588 431 0 14,620 140 0 200,571 222,560 84,785 507,916 0 507,916 523,107 8,931 1,395 30,561 0 580,831

 4,430 2,065 41 8 0 14,620 54 0 77,421 85,909 32,727 196,057 0 196,057 210,738 1,195 163 10,092 +10,342 239,067

 414 196 28 0 0 0 6 0 8,354 9,270 3,531 21,155 0 21,155 21,161 423 50 1,027 - 836 22,463

 520 246 34 0 0 0 8 0 11,224 12,455 4,745 28,424 0 28,424 28,431 317 157 1,822 + 2,074 33,601

 750 346 80 0 0 0 8 0 11,774 13,065 4,977 29,816 0 29,816 29,824 540 124 4,866 - 885 35,644

 802 393 70 7 0 0 9 0 13,351 14,814 5,643 33,808 0 33,808 33,825 913 182 2,000 + 101 38,285

 1,064 502 67 95 0 0 17 0 23,991 26,622 10,141 60,754 0 60,754 60,866 866 105 2,906 - 2,196 64,181

 359 167 36 63 0 0 5 0 7,619 8,454 3,221 19,294 0 19,294 19,362 514 33 885 - 897 20,460

 158 72 33 64 0 0 1 0 844 937 357 2,138 0 2,138 2,203 563 127 645 - 821 2,980

 340 156 50 51 0 0 5 0 6,684 7,417 2,825 16,926 0 16,926 16,982 503 50 874 - 1,049 17,905

 514 232 62 97 0 0 4 0 5,934 6,585 2,509 15,028 0 15,028 15,129 253 145 934 - 4,774 12,496

 1,162 554 65 41 0 0 15 0 21,860 24,257 9,241 55,357 0 55,357 55,414 2,200 165 2,995 - 2,450 60,104
f Each Federal Reserve Bank on May 17, 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.

 537,283 0 14,563 4,923 126 259 19,871 8,668 4,744 570,565 6,765 2,594 906 580,831 780,420 243,137 537,283 11,048 5,200 0 521,034 537,283

 31,354 0 930 0 1 1 933 636 277 33,201 290 120 34 33,644 39,815 8,461 31,354

 226,185 0 2,498 4,923 102 141 7,664 1,111 1,637 236,598 1,492 552 424 239,067 313,201 87,016 226,185

 21,127 0 432 0 1 0 434 379 211 22,150 202 83 28 22,463 30,762 9,636 21,127

 31,071 0 1,103 0 2 8 1,114 474 274 32,932 450 185 33 33,601 38,867 7,796 31,071

 30,964 0 1,245 0 8 100 1,353 691 342 33,350 1,675 619 0 35,644 50,625 19,662 30,964

 35,072 0 1,186 0 2 3 1,191 931 354 37,548 484 192 62 38,285 59,401 24,329 35,072

 59,507 0 2,525 0 3 0 2,528 648 540 63,224 609 241 108 64,181 73,522 14,015 59,507

 19,124 0 505 0 1 0 506 380 196 20,206 161 66 27 20,460 24,740 5,615 19,124

 1,441 0 569 0 1 0 571 517 69 2,598 272 98 11 2,980 10,459 9,018 1,441

 16,261 0 803 0 1 2 806 378 181 17,626 181 75 23 17,905 22,866 6,605 16,261

 10,596 0 1,048 0 1 0 1,049 352 170 12,168 218 88 23 12,496 34,262 23,666 10,596

 54,580 0 1,718 0 3 1 1,723 2,170 492 58,964 732 275 133 60,104 81,898 27,319 54,580