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`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.`

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