<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 JUNE 30, 1999.
</LEGEND>
<CIK> 0001027283
<NAME> CALIFORNIA FEDERAL PREFERRED CAPITAL CORPORATION
<MULTIPLIER> 1,000
<CURRENCY> US$

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               JUN-30-1999
<EXCHANGE-RATE>                                      1
<CASH>                                               0
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                     13,760
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                        964,002
<ALLOWANCE>                                      8,276
<TOTAL-ASSETS>                               1,005,755
<DEPOSITS>                                           0
<SHORT-TERM>                                         0
<LIABILITIES-OTHER>                                856
<LONG-TERM>                                          0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    500,000
<COMMON>                                             0
<OTHER-SE>                                     504,899
<TOTAL-LIABILITIES-AND-EQUITY>               1,005,755
<INTEREST-LOAN>                                 32,597
<INTEREST-INVEST>                                  355
<INTEREST-OTHER>                                     0
<INTEREST-TOTAL>                                32,952
<INTEREST-DEPOSIT>                                   0
<INTEREST-EXPENSE>                                   0
<INTEREST-INCOME-NET>                           32,952
<LOAN-LOSSES>                                        0
<SECURITIES-GAINS>                                   0
<EXPENSE-OTHER>                                    111
<INCOME-PRETAX>                                 32,841
<INCOME-PRE-EXTRAORDINARY>                      32,801
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    32,801<F1>
<EPS-BASIC>                                        0
<EPS-DILUTED>                                        0
<YIELD-ACTUAL>                                    6.53
<LOANS-NON>                                      3,984
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                     0
<CHARGE-OFFS>                                    8,413
<RECOVERIES>                                       137
<ALLOWANCE-CLOSE>                                    0
<ALLOWANCE-DOMESTIC>                             8,276
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                          7,825
<FN>
<F1>Net income available to common stockholders: $9,989
</FN>




</TABLE>