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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 25, 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 24, 2000 May 17, 2000 May 26, 1999 May 24, 2000

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
                                                                
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.

Worksheet for H.4.1 (a)

CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS
Millions of Dollars
                                                                                    Change Since
                                                  *          Wednesday        Wednesday        Wednesday
                                                           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 (1)                               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                        (878)      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                   (878)      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

*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 
   $        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.
Components may not add to totals due to rounding.


MATURITY DISTRIBUTION OF LOANS AND SECURITIES,       May 24, 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             454       20,887   +   3,395            0           0        6,130           0
16 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 to 5 years                   125,254   +       1           10           0     ------      ------
Over 5 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

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.


H.4.1 (b)

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON       May 24, 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                                             574         21         42         32         31         76         71         65         35         32         48         60         61
                       
Loans                                            484          8         22          0          0          1          7        115         74         81         46        103         27
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          12,530          0     12,530          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                     201,758     11,583     77,879      8,403     11,291     11,844     13,430     24,133      7,664        849      6,724      5,970     21,989
                   Notes (3)                 222,569     12,777     85,912      9,270     12,455     13,065     14,815     26,623      8,455        937      7,417      6,585     24,258
                   Bonds (4)                  84,788      4,868     32,728      3,531      4,745      4,977      5,644     10,142      3,221        357      2,826      2,509      9,241
     Total bought outright(5)                509,115     29,227    196,519     21,205     28,491     29,886     33,888     60,898     19,340      2,143     16,966     15,063     55,488
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             509,115     29,227    196,519     21,205     28,491     29,886     33,888     60,898     19,340      2,143     16,966     15,063     55,488
       Total loans and securities            522,269     29,243    209,125     21,211     28,498     29,895     33,905     61,029     19,420      2,225     17,017     15,171     55,530
                       
Items in process of collection                 8,057        507      1,055        360        332        532        796        612        368        599        510        256      2,130
Bank premises                                  1,394         94        164         50        157        124        182        105         33        127         50        145        165
Other assets(5)                               30,927      1,457     10,288      1,044      1,843      4,892      2,027      2,950        900        649        888        949      3,040
Interdistrict settlement account                   0    + 1,359    +10,747    -   564    + 1,355    -   556    +   644    - 3,283    -   953    - 1,168    - 1,189    - 5,175    - 1,216
          TOTAL ASSETS                       579,470     33,487    237,916     22,742     32,983     36,059     38,820     63,044     20,329      2,695     17,820     12,151     61,425

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  $        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.

Components may not add to totals due to rounding.


H.4.1 (c)

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON       May 24, 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                         538,151     31,218    225,973     21,489     30,892     31,203     35,828     59,067     19,119      1,447     16,267     10,770     54,878
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      13,258        982      1,684        399        827      1,506      1,064      1,864        468        373        736        618      2,735
  U.S. Treasury--general account                4,942          0      4,942          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                       76          1         52          1          2          8          2          3          1          1          1          1          3
  Other                                           249          0        138          0          8         96          0          1          0          0          3          0          1
    Total deposits                             18,524        984      6,817        400        837      1,610      1,066      1,867        469        374        739        620      2,739
Deferred credit items                           7,775        563      1,040        331        309        562        840        624        294        420        358        260      2,173
Other liabilities and accrued                 
  dividends (2)                                 4,734        278      1,629        210        273        343        354        537        196         69        181        172        492
    TOTAL LIABILITIES                         569,184     33,044    235,459     22,431     32,311     33,719     38,087     62,095     20,079      2,311     17,545     11,821     60,283
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 6,777        290      1,499        202        450      1,676        484        609        161        273        181        221        732
Surplus                                         2,639        120        552         83        185        664        192        241         66         98         75         88        275
Other capital accounts                            870         33        406         26         36          0         57         99         23         13         20         22        135
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              579,470     33,487    237,916     22,742     32,983     36,059     38,820     63,044     20,329      2,695     17,820     12,151     61,425
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        779,181     39,492    312,253     31,082     38,538     50,574     60,058     73,043     24,669     10,409     22,749     34,373     81,940
  Less--Held by F.R. Banks                    241,030      8,274     86,280      9,593      7,645     19,371     24,230     13,976      5,550      8,962      6,483     23,603     27,062
  F.R. notes, net                             538,151     31,218    225,973     21,489     30,892     31,203     35,828     59,067     19,119      1,447     16,267     10,770     54,878
Collateral held against F.R. notes            
   Gold certificate account                    11,048
   Special drawing rights                 
     certificate account                        5,200
   Other eligible assets                          118
   U.S. govt. and agency securities(3)        521,785
     Total collateral                         538,151

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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