H.4.1 Factors Affecting Reserve Balances of Depository Institutions

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. March 7, 2002 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 Week ended Change from week ended Wednesday F.R. Banks, Reserve Bank credit, and related items Mar 6, 2002 Feb 27, 2002 Mar 7, 2001 Mar 6, 2002 Reserve Bank Credit 636,234 + 4,235 + 58,505 641,427 U.S. government securities (1) Bought outright-system account (2,3) 568,510 + 1,178 + 46,836 570,091 Held under repurchase agreements 0 0 0 0 Federal agency obligations (1) Bought outright 10 0 0 10 Held under repurchase agreements 0 0 0 0 Repurchase agreements — triparty (4) 32,392 + 3,536 + 12,318 35,249 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 13 + 8 - 65 10 Seasonal credit 14 + 2 - 7 18 Extended credit 0 0 0 0 Float -373 - 407 - 1,560 -58 Other F.R. assets 35,670 - 81 + 985 36,107 Gold stock 11,044 0 - 2 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 33,321 + 14 + 1,192 33,321 Total factors supplying reserve funds 682,800 + 4,250 + 59,695 687,992 Currency in circulation* 638,315 + 701 + 53,823 640,152 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 415 + 5 - 90 419 Deposits, other than reserve balances, with F.R. Banks Treasury 5,473 + 777 + 514 5,410 Foreign 124 - 3 + 37 75 Service-related balances and adjustments (5) 9,048 - 15 + 2,322 9,048 Other 248 + 30 - 3 241 Other F.R. liabilities and capital 18,007 + 120 - 166 18,252 Total factors, other than reserve balances, absorbing reserve funds 671,629 + 1,614 + 56,436 673,596 Reserve balances with F.R. Banks (6) 11,171 + 2,636 + 3,260 14,396 On March 6, 2002, 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 $ 747,036 million, a change of $ + 13,657 million for the week. The total includes $ 606,054 million of U.S. government securities and $ 140,983 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 $ 19,274 million (daily average over statement week) and $ 18,434 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 19,274 million (daily average) and $ 18,434 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 729 million (daily average) and $ 0 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 10,658 million of inflation-indexed securities valued at the original face amount and $ 931 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 $ 8,873 million and adjustments of $ 176 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.

H.4.1(a) Consolidated Statement of Condition of all Federal Reserve Banks Millions of dollars Change Since Eliminations from Consolidation Wednesday Wednesday Wednesday Mar 6, 2002 Feb 27, 2002 Mar 7, 2001 ASSETS Gold certificate account 11,044 0 - 2 Special drawing rights certificate account 2,200 0 0 Coin 1,111 - 14 - 6 Loans 28 + 6 - 94 Acceptances 0 0 0 Repurchase agreements — triparty (1) 35,249 + 3,250 + 14,309 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright—Bills 190,971 + 676 + 6,258 Notes (3) 274,981 + 712 + 31,942 Bonds (4) 104,138 0 + 8,839 Total bought outright (5) 570,091 + 1,389 + 47,040 Held under repurchase agreements 0 0 0 Total U.S. government securities 570,091 + 1,389 + 47,040 Total loans and securities 605,378 + 4,645 + 61,255 Items in process of collection (1,041) 8,626 + 1,589 - 416 Bank premises 1,509 0 + 32 Other assets (6) 34,611 + 156 + 1,149 TOTAL ASSETS (1,041) 664,480 + 6,377 + 62,015 LIABILITIES Federal Reserve notes 608,361 + 1,457 + 52,701 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 23,837 + 3,022 + 8,600 U.S. Treasury—general account 5,410 + 502 + 343 Foreign—official accounts 75 - 4 - 22 Other (0) 241 + 29 0 Total deposits (0) 29,562 + 3,548 + 8,920 Deferred availability cash items (1,041) 8,305 + 774 + 142 Other liabilities and accrued dividends (7) 2,373 + 12 - 1,574 TOTAL LIABILITIES (1,041) 648,601 + 5,791 + 60,189 CAPITAL ACCOUNTS Capital paid in 7,636 + 1 + 600 Surplus 7,273 + 7 + 886 Other capital accounts 970 + 578 + 340 1 Cash value of agreements arranged through third-party custodial banks. 2 Face value of the securities. 3 Includes $ 5,766 million of inflation-indexed securities valued at the original face amount and $ 533 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 4,892 million of inflation-indexed securities valued at the original face amount and $ 398 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,434 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 0 million that are fully collateralized by other U.S. government securities. 6 Includes assets denominated in foreign currencies, revalued daily at market exchange rates. 7 Includes exchange-translation account reflecting the daily revaluation at market exchange rates of foreign exchange commitments. Maturity Distribution of Loans and Securities, March 6, 2002 Millions of dollars U.S. government Federal agency Reverse Repurchase securities (1,2) obligations(2) Repurchase Loans Agreements— Weekly Weekly Agreements— Holdings changes Holdings changes Triparty (3) Triparty (3) Within 15 days 15 16,853 - 11,630 0 0 29,249 0 16 days to 90 days 14 129,529 + 11,713 0 0 6,000 0 91 days to 1 year 0 133,416 + 527 0 0 ——— ——— Over 1 year to 5 years ——— 157,379 + 270 10 0 ——— ——— Over 5 years to 10 years ——— 51,953 + 507 0 0 ——— ——— Over 10 years ——— 80,960 + 1 0 0 ——— ——— Total 28 570,091 + 1,389 10 0 35,249 0 1 Includes $ 10,658 million of inflation-indexed securities valued at the original face amount and $ 931 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 March 6, 2002 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco ASSETS Gold certificate account 11,04 4 54 6 4,45 0 45 4 53 8 74 1 87 1 1,02 8 34 3 14 3 31 7 47 7 1,136 Special drawing rights certif. acct. 2,20 0 11 5 87 4 8 3 10 4 14 7 16 6 21 2 7 1 3 0 6 6 9 8 234 Coin 1,11 1 6 7 5 8 5 8 6 2 16 9 10 5 13 7 5 8 3 7 8 2 13 6 143 Loans 2 8 1 0 0 0 0 0 3 1 8 3 0 13 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 35,24 9 0 35,24 9 0 0 0 0 0 0 0 0 0 0 Federal agency obligations (2) Bought outright 1 0 1 4 0 1 1 1 1 0 0 0 0 1 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 190,97 1 11,47 4 78,22 8 7,84 4 11,18 0 11,40 9 13,13 2 21,62 9 6,88 3 59 6 5,89 4 3,46 2 19,240 Notes (3) 274,98 1 16,52 1 112,64 1 11,29 5 16,09 9 16,42 7 18,90 9 31,14 4 9,91 1 85 8 8,48 7 4,98 5 27,704 Bonds (4) 104,13 8 6,25 7 42,65 9 4,27 7 6,09 7 6,22 1 7,16 1 11,79 4 3,75 3 32 5 3,21 4 1,88 8 10,492 Total bought outright (5) 570,09 1 34,25 2 233,52 8 23,41 6 33,37 6 34,05 7 39,20 1 64,56 7 20,54 8 1,77 9 17,59 6 10,33 5 57,435 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 570,09 1 34,25 2 233,52 8 23,41 6 33,37 6 34,05 7 39,20 1 64,56 7 20,54 8 1,77 9 17,59 6 10,33 5 57,435 Total loans and securities 605,37 8 34,25 3 268,78 1 23,41 6 33,37 6 34,05 8 39,20 2 64,57 1 20,54 9 1,78 7 17,60 0 10,33 5 57,449 Items in process of collection 9,66 7 50 2 98 0 53 6 40 4 69 9 84 9 39 4 61 4 75 5 49 9 81 8 2,616 Bank premises 1,50 9 9 2 17 7 4 9 15 1 13 1 28 0 10 6 4 3 12 3 4 9 13 7 171 Other assets (6) 34,61 1 1,85 4 12,48 2 1,18 3 2,35 9 4,67 2 2,28 6 3,50 0 93 0 38 7 93 5 70 0 3,321 Interdistrict settlement account 0 - 3,35 3 -17,19 8 - 3,49 2 - 3,49 7 +13,39 5 + 4,05 0 + 2,92 2 - 45 6 +12,48 5 - 43 5 + 8,12 7 -12,548 TOTAL ASSETS 665,52 1 34,07 7 270,60 4 22,28 7 33,49 7 54,01 3 47,80 9 72,87 1 22,15 2 15,74 8 19,11 3 20,82 7 52,523 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 $ 5,766 million of inflation-indexed securities valued at the original face amount and $ 533 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 4,892 million of inflation-indexed securities valued at the original face amount and $ 398 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,434 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 0 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 March 6, 2002 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco LIABILITIES Federal Reserve notes 608,36 1 30,66 1 250,91 5 20,74 6 30,00 5 46,72 8 43,97 2 67,59 3 20,80 2 13,91 8 17,30 5 19,34 2 46,373 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 23,83 7 1,68 3 8,70 2 43 9 1,50 9 2,59 7 1,63 5 2,72 2 62 1 76 6 88 6 63 5 1,640 U.S. Treasury—general account 5,41 0 0 5,41 0 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 7 5 2 5 1 1 3 7 2 3 1 1 1 1 3 Other 24 1 1 2 12 8 1 0 7 7 0 1 7 0 9 2 3 Total deposits 29,56 2 1,69 7 14,29 1 44 1 1,51 3 2,68 1 1,63 8 2,72 6 62 9 76 7 89 6 63 8 1,646 Deferred credit items 9,34 6 67 0 1,03 4 51 3 42 4 76 8 97 0 62 5 29 0 61 5 40 9 41 6 2,612 Other liabilities and accrued dividends (2) 2,37 3 14 7 75 3 11 8 14 0 21 5 19 4 24 9 10 5 6 3 9 8 8 6 207 TOTAL LIABILITIES 649,64 2 33,17 5 266,99 2 21,81 8 32,08 1 50,39 3 46,77 4 71,19 3 21,82 6 15,36 2 18,70 8 20,48 2 50,838 CAPITAL ACCOUNTS Capital paid in 7,63 6 42 9 1,67 3 22 2 68 2 1,76 2 44 7 79 9 15 0 30 6 19 3 16 6 805 Surplus 7,27 3 41 8 1,50 4 22 1 66 5 1,75 7 53 5 79 3 14 9 7 9 19 1 16 4 796 Other capital accounts 97 0 5 4 43 4 2 6 7 0 10 1 5 3 8 6 2 7 0 2 2 1 5 84 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 665,52 1 34,07 7 270,60 4 22,28 7 33,49 7 54,01 3 47,80 9 72,87 1 22,15 2 15,74 8 19,11 3 20,82 7 52,523 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 750,37 5 35,51 1 295,30 3 27,78 9 34,36 1 56,44 5 63,17 1 74,49 9 23,74 1 16,11 7 21,64 9 33,87 7 67,912 Less—Held by F.R. Banks 142,01 4 4,85 0 44,38 8 7,04 3 4,35 7 9,71 6 19,19 9 6,90 6 2,93 9 2,19 9 4,34 3 14,53 5 21,538 F.R. notes, net 608,36 1 30,66 1 250,91 5 20,74 6 30,00 5 46,72 8 43,97 2 67,59 3 20,80 2 13,91 8 17,30 5 19,34 2 46,373 Collateral held against F.R. notes Gold certificate account 11,044 Special drawing rights certificate account 2,200 Other eligible assets 0 U.S. govt. and agency securities (3) 595,117 Total collateral 608,361 1 Cash value of agreements arranged through third-party custodial banks. These agreements are collateralized by U.S. government and 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.