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

<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               SEP-30-1999
<EXCHANGE-RATE>                                      1
<CASH>                                               0
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                     18,594
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                        975,349
<ALLOWANCE>                                      8,109
<TOTAL-ASSETS>                               1,010,070
<DEPOSITS>                                           0
<SHORT-TERM>                                         0
<LIABILITIES-OTHER>                                650
<LONG-TERM>                                          0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    500,000
<COMMON>                                             0
<OTHER-SE>                                     509,420
<TOTAL-LIABILITIES-AND-EQUITY>               1,010,070
<INTEREST-LOAN>                                 48,265
<INTEREST-INVEST>                                  624
<INTEREST-OTHER>                                     0
<INTEREST-TOTAL>                                48,889
<INTEREST-DEPOSIT>                                   0
<INTEREST-EXPENSE>                                   0
<INTEREST-INCOME-NET>                           48,889
<LOAN-LOSSES>                                        0
<SECURITIES-GAINS>                                   0
<EXPENSE-OTHER>                                    120
<INCOME-PRETAX>                                 48,769
<INCOME-PRE-EXTRAORDINARY>                      48,729
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    48,729<F1>
<EPS-BASIC>                                        0
<EPS-DILUTED>                                        0
<YIELD-ACTUAL>                                    6.44
<LOANS-NON>                                      3,389
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                 8,413
<CHARGE-OFFS>                                      304
<RECOVERIES>                                         0
<ALLOWANCE-CLOSE>                                8,109
<ALLOWANCE-DOMESTIC>                                 0
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                          7,717
<FN>
<F1>NET INCOME AVAILABLE TO COMMON STOCKHOLDERS: $14,510
</FN>



</TABLE>