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 28, 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 27, 2002 Mar 20, 2002 Mar 28, 2001 Mar 27, 2002 Reserve Bank Credit 635,208 - 2,061 + 59,122 637,349 U.S. government securities (1) Bought outright-system account (2,3) 575,740 + 1,642 + 51,810 576,093 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) 22,214 - 4,400 + 6,288 24,000 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 14 + 8 + 11 1 Seasonal credit 20 0 + 2 21 Extended credit 0 0 0 0 Float -169 + 206 - 197 -342 Other F.R. assets 37,380 + 484 + 1,209 37,565 Gold stock 11,044 0 - 2 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 33,363 + 14 + 1,128 33,363 Total factors supplying reserve funds 681,816 - 2,046 + 60,249 683,956 Currency in circulation* 640,361 + 580 + 54,939 642,412 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 422 - 7 - 67 412 Deposits, other than reserve balances, with F.R. Banks Treasury 5,198 - 1,313 + 577 5,009 Foreign 86 - 9 - 12 71 Service-related balances and adjustments (5) 10,181 + 948 + 3,473 10,181 Other 205 - 2 - 91 203 Other F.R. liabilities and capital 18,096 - 180 - 229 17,913 Total factors, other than reserve balances, absorbing reserve funds 674,550 + 16 + 58,590 676,201 Reserve balances with F.R. Banks (6) 7,266 - 2,063 + 1,659 7,756 On March 27, 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 $ 740,723 million, a change of $ - 1,853 million for the week. The total includes $ 599,074 million of U.S. government securities and $ 141,649 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 $ 18,913 million (daily average over statement week) and $ 18,985 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 18,913 million (daily average) and $ 18,985 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 2,484 million (daily average) and $ 3,051 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 $ 949 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 $ 9,629 million and adjustments of $ 551 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 27, 2002 Mar 20, 2002 Mar 28, 2001 ASSETS Gold certificate account 11,044 0 - 2 Special drawing rights certificate account 2,200 0 0 Coin 1,078 - 7 - 69 Loans 22 - 2 + 6 Acceptances 0 0 0 Repurchase agreements — triparty (1) 24,000 - 4,550 + 8,500 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright—Bills 193,104 + 1,661 + 7,771 Notes (3) 278,461 + 294 + 34,803 Bonds (4) 104,528 + 293 + 8,572 Total bought outright (5) 576,093 + 2,249 + 51,147 Held under repurchase agreements 0 0 0 Total U.S. government securities 576,093 + 2,249 + 51,147 Total loans and securities 600,125 - 2,304 + 59,653 Items in process of collection (1,166) 7,292 - 1,624 + 611 Bank premises 1,511 0 + 32 Other assets (6) 35,842 + 309 + 857 TOTAL ASSETS (1,166) 659,092 - 3,626 + 61,082 LIABILITIES Federal Reserve notes 610,539 + 1,407 + 54,467 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 18,099 - 4,047 + 6,869 U.S. Treasury—general account 5,009 - 591 + 245 Foreign—official accounts 71 - 3 - 74 Other (0) 203 - 16 - 48 Total deposits (0) 23,382 - 4,657 + 6,993 Deferred availability cash items (1,166) 7,259 - 338 - 270 Other liabilities and accrued dividends (7) 2,440 + 59 - 1,377 TOTAL LIABILITIES (1,166) 643,619 - 3,530 + 59,811 CAPITAL ACCOUNTS Capital paid in 7,650 + 4 + 621 Surplus 7,270 - 3 + 781 Other capital accounts 552 - 97 - 133 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 $ 542 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 $ 407 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,985 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 3,051 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 27, 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 22 23,545 - 1,462 0 0 21,000 0 16 days to 90 days 0 126,066 + 1,853 0 0 3,000 0 91 days to 1 year 0 133,777 + 1,271 0 0 ——— ——— Over 1 year to 5 years ——— 159,198 + 1 10 0 ——— ——— Over 5 years to 10 years ——— 52,249 + 292 0 0 ——— ——— Over 10 years ——— 81,259 + 294 0 0 ——— ——— Total 22 576,093 + 2,249 10 0 24,000 0 1 Includes $ 10,658 million of inflation-indexed securities valued at the original face amount and $ 949 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 27, 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 1,07 8 6 6 6 2 5 7 5 9 15 6 9 0 13 6 5 9 3 8 8 0 13 2 143 Loans 2 2 1 0 0 0 1 0 7 0 9 2 0 3 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 24,00 0 0 24,00 0 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 193,10 4 11,60 2 79,10 2 7,93 2 11,30 5 11,53 6 13,27 8 21,87 1 6,96 0 60 2 5,96 0 3,50 1 19,455 Notes (3) 278,46 1 16,73 1 114,06 7 11,43 7 16,30 2 16,63 5 19,14 8 31,53 8 10,03 7 86 9 8,59 5 5,04 8 28,054 Bonds (4) 104,52 8 6,28 0 42,81 8 4,29 3 6,12 0 6,24 5 7,18 8 11,83 9 3,76 8 32 6 3,22 6 1,89 5 10,531 Total bought outright (5) 576,09 3 34,61 3 235,98 7 23,66 2 33,72 7 34,41 6 39,61 4 65,24 7 20,76 4 1,79 7 17,78 1 10,44 4 58,040 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 576,09 3 34,61 3 235,98 7 23,66 2 33,72 7 34,41 6 39,61 4 65,24 7 20,76 4 1,79 7 17,78 1 10,44 4 58,040 Total loans and securities 600,12 5 34,61 4 259,99 1 23,66 3 33,72 8 34,41 8 39,61 5 65,25 6 20,76 5 1,80 6 17,78 4 10,44 4 58,044 Items in process of collection 8,45 7 50 6 79 0 41 8 29 4 57 9 71 0 70 3 47 8 53 5 55 4 44 2 2,446 Bank premises 1,51 1 9 2 17 9 4 9 15 1 13 1 28 0 10 7 4 3 12 3 4 9 13 7 171 Other assets (6) 35,84 2 1,92 5 13,01 9 1,27 3 2,42 0 4,72 5 2,36 9 3,62 6 97 1 38 5 96 9 71 9 3,440 Interdistrict settlement account 0 - 4,79 9 -14,09 3 - 3,53 1 - 4,04 3 +13,05 2 + 2,93 7 + 1,79 9 - 51 8 +12,26 8 - 75 2 +10,36 5 -12,683 TOTAL ASSETS 660,25 8 33,06 5 265,27 1 22,46 7 33,25 2 53,94 8 47,03 8 72,86 7 22,21 1 15,32 8 19,06 7 22,81 3 52,931 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 $ 542 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 $ 407 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,985 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 3,051 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 27, 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 610,53 9 30,44 0 252,18 8 20,73 4 29,67 7 46,23 1 43,97 0 67,03 4 20,87 1 13,84 4 17,33 3 21,41 7 46,798 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 18,09 9 96 0 2,58 0 57 9 1,68 1 3,25 1 1,04 4 3,37 7 69 4 53 5 75 6 62 9 2,011 U.S. Treasury—general account 5,00 9 0 5,00 9 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 7 1 2 4 8 1 3 7 2 3 1 1 1 1 3 Other 20 3 1 9 13 1 1 1 3 6 0 3 4 0 7 1 0 Total deposits 23,38 2 98 1 7,76 8 58 1 1,68 5 3,29 4 1,04 7 3,38 3 69 9 53 5 76 4 63 0 2,015 Deferred credit items 8,42 5 61 7 1,02 5 58 2 37 2 65 1 81 7 56 0 22 2 50 3 47 3 33 9 2,263 Other liabilities and accrued dividends (2) 2,44 0 15 2 77 4 11 1 14 2 23 5 20 1 25 3 10 7 6 2 10 0 8 9 214 TOTAL LIABILITIES 644,78 5 32,18 9 261,75 4 22,00 8 31,87 5 50,41 1 46,03 5 71,23 0 21,90 1 14,94 5 18,67 1 22,47 5 51,291 CAPITAL ACCOUNTS Capital paid in 7,65 0 43 0 1,67 1 22 3 68 3 1,77 2 44 8 80 0 15 0 30 6 19 4 16 8 805 Surplus 7,27 0 41 8 1,50 4 22 1 66 5 1,75 7 53 5 79 3 14 9 7 7 19 1 16 4 796 Other capital accounts 55 2 2 8 34 2 1 5 2 9 8 2 0 4 3 1 2 0 1 1 6 40 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 660,25 8 33,06 5 265,27 1 22,46 7 33,25 2 53,94 8 47,03 8 72,86 7 22,21 1 15,32 8 19,06 7 22,81 3 52,931 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 748,34 4 35,27 0 294,52 1 27,91 1 34,26 3 56,08 1 62,74 4 74,15 0 24,10 0 16,10 2 21,45 0 34,11 8 67,633 Less—Held by F.R. Banks 137,80 6 4,83 0 42,33 3 7,17 7 4,58 7 9,85 0 18,77 4 7,11 5 3,22 9 2,25 8 4,11 7 12,70 1 20,835 F.R. notes, net 610,53 9 30,44 0 252,18 8 20,73 4 29,67 7 46,23 1 43,97 0 67,03 4 20,87 1 13,84 4 17,33 3 21,41 7 46,798 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) 597,294 Total collateral 610,539 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.