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. May 2, 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 May 1, 2002 Apr 24, 2002 May 2, 2001 May 1, 2002 Reserve Bank Credit 647,401 + 6,994 + 61,014 654,355 U.S. government securities (1) Bought outright-system account (2,3) 580,919 + 653 + 53,883 580,860 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) 27,429 + 5,465 + 4,986 34,500 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 12 + 4 + 2 8 Seasonal credit 67 + 11 + 26 88 Extended credit 0 0 0 0 Float -186 + 332 + 215 -129 Other F.R. assets 39,151 + 530 + 1,904 39,018 Gold stock 11,044 0 - 2 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 33,661 + 14 + 1,244 33,661 Total factors supplying reserve funds 694,305 + 7,007 + 62,255 701,260 Currency in circulation* 644,218 + 754 + 55,849 646,309 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 393 - 6 - 123 394 Deposits, other than reserve balances, with F.R. Banks Treasury 6,946 - 48 + 213 4,323 Foreign 90 + 8 + 4 92 Service-related balances and adjustments (5) 10,012 - 119 + 2,771 10,012 Other 237 + 5 - 120 212 Other F.R. liabilities and capital 19,044 + 186 + 1,061 18,868 Total factors, other than reserve balances, absorbing reserve funds 680,940 + 779 + 59,655 680,210 Reserve balances with F.R. Banks (6) 13,365 + 6,228 + 2,600 21,049 On May 1, 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 $ 742,007 million, a change of $ + 4,162 million for the week. The total includes $ 598,000 million of U.S. government securities and $ 144,006 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 $ 20,674 million (daily average over statement week) and $ 21,133 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 20,674 million (daily average) and $ 21,133 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,211 million (daily average) and $ 749 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,073 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 $ 9,871 million and adjustments of $ 142 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 May 1, 2002 Apr 24, 2002 May 2, 2001 ASSETS Gold certificate account 11,044 0 - 2 Special drawing rights certificate account 2,200 0 0 Coin 982 - 17 - 135 Loans 96 + 30 + 33 Acceptances 0 0 0 Repurchase agreements — triparty (1) 34,500 + 13,500 + 5,243 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright—Bills 192,016 - 1,697 + 10,500 Notes (3) 283,536 + 450 + 35,569 Bonds (4) 105,308 + 69 + 8,148 Total bought outright (5) 580,860 - 1,178 + 54,217 Held under repurchase agreements 0 0 0 Total U.S. government securities 580,860 - 1,178 + 54,217 Total loans and securities 615,467 + 12,353 + 59,494 Items in process of collection (1,314) 8,587 + 1,194 - 925 Bank premises 1,512 - 3 + 14 Other assets (6) 37,275 + 83 + 1,773 TOTAL ASSETS (1,314) 677,066 + 13,609 + 60,219 LIABILITIES Federal Reserve notes 614,024 + 1,587 + 54,609 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 30,954 + 12,848 + 6,944 U.S. Treasury—general account 4,323 - 1,932 - 1,391 Foreign—official accounts 92 + 16 - 23 Other (0) 212 - 19 - 157 Total deposits (0) 35,582 + 10,914 + 5,374 Deferred availability cash items (1,314) 8,592 + 928 - 840 Other liabilities and accrued dividends (7) 2,373 - 50 - 1,137 TOTAL LIABILITIES (1,314) 660,571 + 13,380 + 58,006 CAPITAL ACCOUNTS Capital paid in 8,056 0 + 1,013 Surplus 7,300 + 10 + 855 Other capital accounts 1,139 + 219 + 345 1 Cash value of agreements arranged through third-party custodial banks. 2 Face value of the securities. 3 Includes $ 6,591 million of inflation-indexed securities valued at the original face amount and $ 634 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,011 million of inflation-indexed securities valued at the original face amount and $ 439 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 21,133 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 749 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, May 1, 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 19 22,521 - 5,140 0 0 29,500 0 16 days to 90 days 77 122,738 - 3,805 0 0 5,000 0 91 days to 1 year 0 138,748 + 6,282 0 0 ——— ——— Over 1 year to 5 years ——— 161,353 + 968 10 0 ——— ——— Over 5 years to 10 years ——— 53,999 + 448 0 0 ——— ——— Over 10 years ——— 81,502 + 69 0 0 ——— ——— Total 96 580,860 - 1,178 10 0 34,500 0 1 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,073 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.

)b( 1.4.H 2002 ,1 yaM no knaB evreseR laredeF hcaE fo noitidnoC fo tnemetatS srallod fo snoilliM naS sasnaK sallaD silopaenniM siuoL .tS ogacihC atnaltA dnomhciR dnalevelC aihpledalihP kroY weN notsoB latoT ocsicnarF ytiC STESSA 640,1 5 84 9 03 9 71 6 43 0 80,1 6 29 9 18 2 25 0 34 9 63,4 3 35 4 40,11 tnuocca etacifitrec dloG 432 8 9 6 6 0 3 1 7 2 12 6 61 7 41 4 01 3 8 4 78 5 11 0 02,2 .tcca .fitrec sthgir gniward laicepS 731 5 21 0 7 7 3 5 5 1 21 7 8 2 31 4 5 1 5 3 5 9 5 2 89 nioC 11 0 8 0 3 7 3 3 0 0 0 0 0 6 6 9 snaoL 0 0 0 0 0 0 0 0 0 0 0 0 0 secnatpeccA 0 0 0 0 0 0 0 0 0 0 0 05,43 0 0 05,43 )1( ytrapirt — stnemeerga esahcrupeR )2( snoitagilbo ycnega laredeF 1 0 0 0 0 1 1 1 1 0 4 1 0 1 thgirtuo thguoB 0 0 0 0 0 0 0 0 0 0 0 0 0 stnemeerga esahcruper rednu dleH )2( seitiruces tnemnrevog .S.U 474,61 2 62,4 6 76,5 2 00,3 8 28,6 7 95,22 2 76,31 6 79,41 4 95,01 4 83,7 1 55,57 2 00,11 6 10,291 slliB —thgirtuo thguoB 623,42 3 92,6 1 83,8 2 34,4 2 80,01 7 63,33 9 81,02 4 11,22 4 46,51 3 09,01 0 65,111 5 42,61 6 35,382 )3( setoN 530,9 7 33,2 3 11,3 6 46,1 5 47,3 3 93,21 8 94,7 3 12,8 0 18,5 9 40,4 5 34,14 4 30,6 8 03,501 )4( sdnoB 538,94 1 98,21 0 71,71 0 80,9 4 56,02 6 53,86 0 63,14 3 03,54 9 40,23 6 33,22 6 45,822 0 82,33 0 68,085 )5( thgirtuo thguob latoT 0 0 0 0 0 0 0 0 0 0 0 0 0 stnemeerga esahcruper rednu dleH 538,94 1 98,21 0 71,71 0 80,9 4 56,02 6 53,86 0 63,14 3 03,54 9 40,23 6 33,22 6 45,822 0 82,33 0 68,085 seitiruces .tvog .S.U latoT 848,94 2 98,21 8 71,71 1 11,9 2 66,02 0 93,86 0 63,14 4 03,54 9 40,23 6 33,22 0 50,362 7 82,33 7 64,516 seitiruces dna snaol latoT 198,2 5 15 9 94 2 94 9 93 1 15 7 16 1 06 8 63 1 73 7 89,1 0 56 1 09,9 noitcelloc fo ssecorp ni smetI 171 6 31 9 4 3 21 3 4 8 01 0 82 1 31 1 51 9 4 1 81 2 9 2 15,1 sesimerp knaB 013,3 3 28 7 89 4 36 7 00,1 5 68,3 2 15,2 6 42,5 9 64,2 0 42,1 6 12,31 6 69,1 5 72,73 )6( stessa rehtO 027,2 - 2 26,8 + 9 55 + 1 31,5 + 5 70,1 - 1 04,1 - 4 82,1 + 0 23,1 + 5 91,2 - 5 12,2 - 4 73,5 - 6 39,1 - 0 tnuocca tnemelttes tcirtsidretnI 819,45 5 96,32 8 17,91 7 37,51 8 05,12 5 88,27 3 32,74 0 07,35 2 25,33 5 43,22 4 53,872 5 67,43 0 83,876 STESSA LATOT .seitiruces ycnega laredef dna tnemnrevog .S.U yb dezilaretalloc era stnemeerga esehT .sknab laidotsuc ytrap-driht hguorht degnarra stnemeerga fo eulav hsaC 1 .seitiruces eht fo eulav ecaF 2 eht no noitalfni fo stceffe eht rof stsujda taht noitasnepmoc fo noillim 436 $ dna tnuoma ecaf lanigiro eht ta deulav seitiruces dexedni-noitalfni fo noillim 195,6 $ sedulcnI 3 .seitiruces hcus fo lapicnirp eht no noitalfni fo stceffe eht rof stsujda taht noitasnepmoc fo noillim 934 $ dna tnuoma ecaf lanigiro eht ta deulav seitiruces dexedni-noitalfni fo noillim 110,5 $ sedulcnI 4 .seitiruces hcus fo lapicnirp ylluf era taht noillim 947 $ fo snaol seitiruces sedulcnI .keew tnemetats tsetal eht fo dne eht ta gnidnatstuo snoitcasnart esahcrup-elas dehctam noillim 331,12 $ fo teN 5 .seitiruces tnemnrevog .S.U rehto yb dezilaretalloc .setar egnahcxe tekram ta ylhtnom deulaver ,seicnerruc ngierof ni detanimoned stessa sedulcnI 6 .gnidnuor ot eud slatot ot dda ton yam stnenopmoC

)c( 1.4.H 2002 ,1 yaM no knaB evreseR laredeF hcaE fo noitidnoC fo tnemetatS srallod fo snoilliM naS sasnaK sallaD silopaenniM siuoL .tS ogacihC atnaltA dnomhciR dnalevelC aihpledalihP kroY weN notsoB latoT ocsicnarF ytiC SEITILIBAIL 819,74 3 85,12 2 43,71 8 57,31 7 71,02 6 52,66 8 95,34 9 96,64 6 59,82 3 55,02 9 36,652 4 45,03 4 20,416 seton evreseR laredeF 0 0 0 0 0 0 0 0 0 0 0 0 0 )1( ytrapirt—stnemeerga esahcruper esreveR stisopeD 581,2 8 52,1 6 44,1 3 59 8 35 0 69,3 9 63,1 5 57,1 8 65,2 7 75 4 28,11 1 25,2 4 59,03 snoitutitsni yrotisopeD 0 0 0 0 0 0 0 0 0 0 3 23,4 0 3 23,4 tnuocca lareneg—yrusaerT .S.U 3 1 1 1 1 3 2 7 3 1 8 6 2 2 9 stnuocca laiciffo—ngieroF 1 1 5 2 3 1 0 7 11 0 0 1 7 1 1 2 12 rehtO 981,2 9 52,1 2 54,1 6 59 1 45 5 69,3 1 73,1 9 78,1 1 75,2 8 75 6 82,61 4 35,2 2 85,53 stisoped latoT 149,2 4 14 9 24 3 35 6 92 2 37 2 30,1 5 17 9 44 0 46 7 80,1 1 46 6 09,9 smeti tiderc derrefeD deurcca dna seitilibail rehtO 291 8 8 5 9 8 7 4 01 4 52 5 91 0 52 9 31 5 01 0 37 3 41 3 73,2 )2( sdnedivid 142,35 5 43,32 8 13,91 4 23,51 8 11,12 6 02,17 6 91,64 2 45,94 4 11,23 7 78,12 3 47,472 1 68,33 5 88,166 SEITILIBAIL LATOT STNUOCCA LATIPAC 808 7 61 1 91 6 03 3 02 1 08 0 54 4 11,2 0 86 3 22 2 86,1 0 34 6 50,8 ni diap latipaC 697 4 61 1 91 6 01 9 41 3 97 5 35 7 57,1 5 66 1 22 4 05,1 8 14 0 03,7 sulpruS 37 9 1 8 1 0 7 3 5 8 2 5 6 82 3 6 4 2 5 24 6 5 9 31,1 stnuocca latipac rehtO LATIPAC DNA SEITILIBAIL LATOT 819,45 5 96,32 8 17,91 7 37,51 8 05,12 5 88,27 3 32,74 0 07,35 2 25,33 5 43,22 4 53,872 5 67,43 0 83,876 STNUOCCA STNUOCCA ’STNEGA EVRESER LAREDEF 197,66 8 50,43 0 72,12 5 79,51 8 18,32 9 79,27 5 86,16 1 47,65 4 18,33 4 55,72 2 49,892 6 51,53 3 87,847 gnidnatstuo seton .R.F 278,81 5 74,21 8 29,3 7 12,2 1 46,3 3 27,6 7 80,81 2 40,01 8 58,4 1 00,7 3 03,24 3 16,4 9 57,431 sknaB .R.F yb dleH—sseL 819,74 3 85,12 2 43,71 8 57,31 7 71,02 6 52,66 8 95,34 9 96,64 6 59,82 3 55,02 9 36,652 4 45,03 4 20,416 ten ,seton .R.F seton .R.F tsniaga dleh laretalloC 440,11 tnuocca etacifitrec dloG sthgir gniward laicepS 002,2 tnuocca etacifitrec 0 stessa elbigile rehtO 087,006 )3( seitiruces ycnega dna .tvog .S.U 420,416 laretalloc latoT .seitiruces ycnega dna tnemnrevog .S.U yb dezilaretalloc era stnemeerga esehT .sknab laidotsuc ytrap-driht hguorht degnarra stnemeerga fo eulav hsaC 1 .stnemtimmoc egnahcxe ngierof fo setar egnahcxe tekram ta noitaulaver ylhtnom eht gnitcelfer tnuocca noitalsnart-egnahcxe sedulcnI 2 ytrapirt rednu stnemeerga esahcruper fo eulav hsac sedulcnI .tnuoma ecaf ta deulav era tnemeerga esahcruper rednu dleh ro thgirtuo thguob seitiruces ycnega dna tnemnrevog .S.U 3 .stnemeerga esahcruper esrever rednu degdelp seitiruces fo eulav rap eht sedulcxe dna stnemegnarra .gnidnuor ot eud slatot ot dda ton yam stnenopmoC