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 9, 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 8, 2002 May 1, 2002 May 9, 2001 May 8, 2002 Reserve Bank Credit 641,535 - 5,853 + 61,534 643,085 U.S. government securities (1) Bought outright-system account (2,3) 582,167 + 1,248 + 57,453 583,672 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) 19,929 - 7,500 + 2,496 19,000 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 5 - 7 - 3 2 Seasonal credit 94 + 27 + 25 89 Extended credit 0 0 0 0 Float 66 + 265 - 191 940 Other F.R. assets 39,265 + 114 + 1,754 39,371 Gold stock 11,044 0 - 2 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 33,675 + 14 + 1,228 33,675 Total factors supplying reserve funds 688,453 - 5,839 + 62,759 690,003 Currency in circulation* 646,424 + 2,206 + 56,706 648,573 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 396 + 3 - 122 407 Deposits, other than reserve balances, with F.R. Banks Treasury 5,145 - 1,801 + 92 5,452 Foreign 87 - 3 + 12 82 Service-related balances and adjustments (5) 10,129 + 117 + 3,252 10,129 Other 260 + 23 - 105 251 Other F.R. liabilities and capital 19,123 + 79 + 1,089 18,754 Total factors, other than reserve balances, absorbing reserve funds 681,565 + 625 + 60,924 683,649 Reserve balances with F.R. Banks (6) 6,888 - 6,464 + 1,835 6,353 On May 8, 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 $ 742,477 million, a change of $ + 470 million for the week. The total includes $ 595,294 million of U.S. government securities and $ 147,183 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 $ 20,021 million (daily average over statement week) and $ 18,638 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 20,021 million (daily average) and $ 18,638 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 585 million (daily average) and $ 370 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 $ 1,089 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 $ 9,861 million and adjustments of $ 268 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 8, 2002 May 1, 2002 May 9, 2001 ASSETS Gold certificate account 11,044 0 - 2 Special drawing rights certificate account 2,200 0 0 Coin 973 - 9 - 137 Loans 92 - 4 - 3 Acceptances 0 0 0 Repurchase agreements — triparty (1) 19,000 - 15,500 + 3,993 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright—Bills 194,812 + 2,796 + 15,904 Notes (3) 283,545 + 9 + 34,176 Bonds (4) 105,315 + 7 + 7,150 Total bought outright (5) 583,672 + 2,812 + 57,230 Held under repurchase agreements 0 0 0 Total U.S. government securities 583,672 + 2,812 + 57,230 Total loans and securities 602,774 - 12,693 + 61,220 Items in process of collection (1,132) 8,527 - 60 - 384 Bank premises 1,514 + 2 + 15 Other assets (6) 37,644 + 369 + 1,589 TOTAL ASSETS (1,132) 664,674 - 12,392 + 62,299 LIABILITIES Federal Reserve notes 616,279 + 2,255 + 55,767 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 16,169 - 14,785 + 4,929 U.S. Treasury—general account 5,452 + 1,129 + 1,025 Foreign—official accounts 82 - 10 - 7 Other (3) 251 + 39 - 104 Total deposits (3) 21,955 - 13,627 + 5,845 Deferred availability cash items (1,129) 7,686 - 906 - 381 Other liabilities and accrued dividends (7) 2,415 + 42 - 1,046 TOTAL LIABILITIES (1,132) 648,335 - 12,236 + 60,184 CAPITAL ACCOUNTS Capital paid in 8,101 + 45 + 1,056 Surplus 7,303 + 3 + 824 Other capital accounts 936 - 203 + 235 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 $ 643 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 $ 446 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,638 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 370 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 8, 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 14 27,663 + 5,142 0 0 14,000 0 16 days to 90 days 78 125,948 + 3,210 0 0 5,000 0 91 days to 1 year 0 133,193 - 5,555 0 0 ——— ——— Over 1 year to 5 years ——— 161,355 + 2 10 0 ——— ——— Over 5 years to 10 years ——— 54,005 + 6 0 0 ——— ——— Over 10 years ——— 81,509 + 7 0 0 ——— ——— Total 92 583,672 + 2,812 10 0 19,000 0 1 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,089 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 May 8, 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 53 3 4,36 9 43 0 52 2 81 9 92 6 1,08 0 34 6 17 9 30 9 48 5 1,046 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 97 3 5 5 5 2 5 1 5 0 13 0 8 8 12 3 5 5 3 8 6 9 12 5 137 Loans 9 2 7 0 0 0 0 0 3 2 6 3 7 9 0 2 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 19,00 0 0 19,00 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 194,81 2 11,16 2 76,65 1 7,49 1 10,74 9 15,19 4 13,87 1 22,92 6 6,92 7 3,04 5 5,75 9 4,32 4 16,714 Notes (3) 283,54 5 16,24 6 111,56 4 10,90 3 15,64 5 22,11 4 20,19 0 33,36 8 10,08 2 4,43 3 8,38 2 6,29 3 24,327 Bonds (4) 105,31 5 6,03 4 41,43 7 4,05 0 5,81 1 8,21 4 7,49 9 12,39 3 3,74 5 1,64 6 3,11 3 2,33 7 9,036 Total bought outright (5) 583,67 2 33,44 1 229,65 2 22,44 4 32,20 4 45,52 2 41,56 0 68,68 7 20,75 4 9,12 4 17,25 3 12,95 4 50,077 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 583,67 2 33,44 1 229,65 2 22,44 4 32,20 4 45,52 2 41,56 0 68,68 7 20,75 4 9,12 4 17,25 3 12,95 4 50,077 Total loans and securities 602,77 4 33,44 8 248,65 6 22,44 4 32,20 5 45,52 3 41,56 0 68,72 0 20,76 0 9,16 1 17,26 2 12,95 4 50,079 Items in process of collection 9,65 9 29 3 1,15 8 40 3 49 0 61 5 83 8 78 9 63 1 61 0 64 7 45 4 2,731 Bank premises 1,51 4 9 2 18 1 4 9 15 2 13 1 28 0 10 8 4 3 12 3 4 9 13 6 171 Other assets (6) 37,64 4 1,97 8 13,36 6 1,25 4 2,48 4 5,26 7 2,54 0 3,90 7 1,02 2 64 2 99 8 83 1 3,355 Interdistrict settlement account 0 - 2,61 9 + 3,56 5 - 2,51 2 - 3,74 3 + 79 9 + 77 0 - 3,17 8 - 1,31 0 + 4,52 4 - 45 2 + 7,93 6 - 3,780 TOTAL ASSETS 665,80 6 33,89 4 272,22 2 22,20 2 32,26 4 53,43 1 47,16 9 71,76 1 21,61 9 15,30 7 18,94 8 23,01 8 53,973 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 $ 6,591 million of inflation-indexed securities valued at the original face amount and $ 643 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 $ 446 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,638 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 370 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 May 8, 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 616,27 9 30,57 7 258,13 4 20,62 5 29,06 4 46,95 5 43,90 4 66,06 2 20,23 7 13,74 7 17,39 6 21,56 4 48,013 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 16,16 9 1,65 9 3,19 6 51 7 1,27 4 1,26 3 1,14 7 3,14 9 60 1 56 2 65 6 60 8 1,538 U.S. Treasury—general account 5,45 2 0 5,45 2 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 8 2 2 5 8 1 3 7 2 3 1 1 1 1 3 Other 25 5 1 1 13 4 0 0 10 1 0 1 2 0 1 4 0 Total deposits 21,95 8 1,67 2 8,84 0 51 8 1,27 7 1,37 1 1,14 9 3,15 3 60 4 56 3 65 8 61 2 1,542 Deferred credit items 8,81 5 62 0 96 1 49 2 36 0 67 9 90 7 63 8 26 5 50 0 40 4 41 0 2,576 Other liabilities and accrued dividends (2) 2,41 5 14 6 74 1 10 7 14 3 25 1 19 6 25 9 10 6 8 0 9 6 9 2 197 TOTAL LIABILITIES 649,46 6 33,01 6 268,67 7 21,74 2 30,84 4 49,25 6 46,15 6 70,11 2 21,21 2 14,89 0 18,55 5 22,67 8 52,327 CAPITAL ACCOUNTS Capital paid in 8,10 1 43 0 1,68 2 22 3 72 2 2,11 4 45 1 80 1 20 5 30 6 19 1 16 7 808 Surplus 7,30 3 41 8 1,50 4 22 1 66 5 1,75 7 53 5 79 3 14 9 11 0 19 1 16 4 796 Other capital accounts 93 6 2 9 35 8 1 6 3 3 30 3 2 7 5 5 5 3 0 1 1 9 42 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 665,80 6 33,89 4 272,22 2 22,20 2 32,26 4 53,43 1 47,16 9 71,76 1 21,61 9 15,30 7 18,94 8 23,01 8 53,973 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 749,31 6 35,16 7 299,96 5 27,46 0 33,82 5 57,11 4 61,48 7 72,84 1 23,77 3 15,94 6 21,22 4 33,97 5 66,537 Less—Held by F.R. Banks 133,03 7 4,59 0 41,83 2 6,83 5 4,76 1 10,15 9 17,58 4 6,77 9 3,53 6 2,19 8 3,82 9 12,41 1 18,524 F.R. notes, net 616,27 9 30,57 7 258,13 4 20,62 5 29,06 4 46,95 5 43,90 4 66,06 2 20,23 7 13,74 7 17,39 6 21,56 4 48,013 Collateral held against F.R. notes Gold certificate account 11,044 Special drawing rights certificate account 2,200 Other eligible assets 353 U.S. govt. and agency securities (3) 602,682 Total collateral 616,279 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.