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 23, 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 22, 2002 May 15, 2002 May 23, 2001 May 22, 2002 Reserve Bank Credit 643,814 - 2,085 + 61,752 644,372 U.S. government securities (1) Bought outright-system account (2,3) 585,122 + 1,150 + 59,023 584,602 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) 22,893 + 106 + 1,978 23,500 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 12 + 6 + 9 24 Seasonal credit 105 + 10 + 22 111 Extended credit 0 0 0 0 Float -748 - 654 - 878 -683 Other F.R. assets 36,421 - 2,703 + 1,598 36,808 Gold stock 11,044 0 - 2 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 33,703 + 14 + 1,199 33,703 Total factors supplying reserve funds 690,761 - 2,070 + 62,949 691,318 Currency in circulation* 648,751 + 1,056 + 57,770 651,172 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 411 + 3 - 100 411 Deposits, other than reserve balances, with F.R. Banks Treasury 4,914 - 220 - 79 4,024 Foreign 76 - 23 0 72 Service-related balances and adjustments (5) 10,159 + 117 + 3,072 10,159 Other 217 + 3 - 125 217 Other F.R. liabilities and capital 19,460 + 361 + 1,516 19,406 Total factors, other than reserve balances, absorbing reserve funds 683,986 + 1,294 + 62,051 685,461 Reserve balances with F.R. Banks (6) 6,774 - 3,365 + 897 5,857 On May 22, 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 $ 747,170 million, a change of $ - 646 million for the week. The total includes $ 603,657 million of U.S. government securities and $ 143,513 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 $ 21,919 million (daily average over statement week) and $ 23,291 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 21,704 million (daily average) and $ 21,791 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,184 million (daily average) and $ 110 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 $ 1,122 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 $ 9,768 million and adjustments of $ 390 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 22, 2002 May 15, 2002 May 23, 2001 ASSETS Gold certificate account 11,044 0 - 2 Special drawing rights certificate account 2,200 0 0 Coin 937 - 25 - 159 Loans 135 + 31 + 50 Acceptances 0 0 0 Repurchase agreements — triparty (1) 23,500 - 4,751 - 205 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright—Bills 193,218 - 2,158 + 18,192 Notes (3) 286,010 + 941 + 33,656 Bonds (4) 105,374 + 52 + 7,146 Total bought outright (5) 584,602 - 1,165 + 58,994 Held under repurchase agreements 0 0 0 Total U.S. government securities 584,602 - 1,165 + 58,994 Total loans and securities 608,247 - 5,885 + 58,839 Items in process of collection (1,058) 6,470 - 113 - 1,163 Bank premises 1,515 + 1 + 16 Other assets (6) 35,043 + 839 + 1,670 TOTAL ASSETS (1,058) 665,456 - 5,183 + 59,200 LIABILITIES Federal Reserve notes 618,818 + 2,052 + 56,405 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 15,897 - 6,357 + 2,491 U.S. Treasury—general account 4,024 - 944 - 764 Foreign—official accounts 72 - 36 - 12 Other (0) 217 + 1 - 111 Total deposits (0) 20,211 - 7,335 + 1,606 Deferred availability cash items (1,058) 7,022 - 326 - 531 Other liabilities and accrued dividends (7) 2,469 + 22 - 929 TOTAL LIABILITIES (1,058) 648,519 - 5,589 + 56,550 CAPITAL ACCOUNTS Capital paid in 8,096 + 16 + 1,036 Surplus 7,312 + 2 + 770 Other capital accounts 1,530 + 390 + 845 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 $ 661 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 $ 460 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 23,291 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 110 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 22, 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 130 26,794 + 3,356 0 0 19,500 0 16 days to 90 days 6 126,403 - 934 0 0 4,000 0 91 days to 1 year 0 131,761 - 4,580 0 0 ——— ——— Over 1 year to 5 years ——— 166,467 + 979 10 0 ——— ——— Over 5 years to 10 years ——— 51,654 + 6 0 0 ——— ——— Over 10 years ——— 81,522 + 7 0 0 ——— ——— Total 135 584,602 - 1,165 10 0 23,500 0 1 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,122 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 ,22 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 721 4 21 7 6 6 3 4 5 8 11 2 9 7 21 6 4 7 4 6 4 0 5 7 39 nioC 32 2 1 1 7 3 9 1 4 3 2 0 0 0 0 6 5 31 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 05,32 0 0 05,32 )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 775,61 8 82,4 2 17,5 0 20,3 0 78,6 8 37,22 8 57,31 0 70,51 1 66,01 0 34,7 4 20,67 0 70,11 8 12,391 slliB —thgirtuo thguoB 935,42 8 43,6 4 54,8 1 74,4 0 71,01 8 56,33 5 63,02 7 03,22 1 87,51 8 99,01 4 35,211 7 83,61 0 10,682 )3( setoN 140,9 9 33,2 5 11,3 7 46,1 7 47,3 0 04,21 3 05,7 8 12,8 4 18,5 2 50,4 0 64,14 7 30,6 4 73,501 )4( sdnoB 651,05 4 79,21 1 82,71 9 31,9 7 87,02 6 97,86 6 26,14 5 95,54 5 52,23 0 84,22 8 10,032 5 94,33 2 06,485 )5( thgirtuo thguob latoT 0 0 0 0 0 0 0 0 0 0 0 0 0 stnemeerga esahcruper rednu dleH 651,05 4 79,21 1 82,71 9 31,9 7 87,02 6 97,86 6 26,14 5 95,54 5 52,23 0 84,22 8 10,032 5 94,33 2 06,485 seitiruces .tvog .S.U latoT 081,05 7 79,21 2 92,71 6 71,9 6 08,02 1 38,86 9 26,14 5 95,54 6 52,23 0 84,22 2 25,352 1 05,33 7 42,806 seitiruces dna snaol latoT 443,2 5 33 0 25 8 35 0 33 6 06 9 94 1 05 4 72 9 53 9 66 2 55 8 25,7 noitcelloc fo ssecorp ni smetI 271 7 31 9 4 3 21 3 4 7 01 0 82 1 31 1 51 9 4 1 81 2 9 5 15,1 sesimerp knaB 821,3 3 77 0 29 1 06 6 29 5 95,3 1 53,2 9 31,5 4 53,2 2 51,1 5 72,21 9 28,1 3 40,53 )6( stessa rehtO 741,3 - 5 91,8 + 5 63 - 0 55,4 + 8 26,1 - 9 82,4 - 5 30,2 + 6 59,2 + 5 44,3 - 5 03,2 - 2 49 + 0 05,3 - 0 tnuocca tnemelttes tcirtsidretnI 480,45 5 21,32 8 58,81 3 32,51 8 49,02 1 62,07 9 79,74 7 14,55 3 62,23 5 92,22 7 78,272 4 71,33 4 15,666 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 166 $ 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 064 $ dna tnuoma ecaf lanigiro eht ta deulav seitiruces dexedni-noitalfni fo noillim 110,5 $ sedulcnI 4 .seitiruces hcus fo lapicnirp ylluf era taht noillim 011 $ fo snaol seitiruces sedulcnI .keew tnemetats tsetal eht fo dne eht ta gnidnatstuo snoitcasnart esahcrup-elas dehctam noillim 192,32 $ 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 ,22 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 561,84 9 95,12 0 93,71 0 08,31 1 36,91 9 83,56 1 08,44 9 02,74 2 77,82 0 37,02 2 07,062 8 26,03 8 18,816 seton evreseR laredeF 0 0 0 0 0 0 0 0 0 0 0 0 0 )1( ytrapirt—stnemeerga esahcruper esreveR stisopeD 675,1 4 37 7 06 5 14 5 45 8 92,2 5 01,1 2 59,2 4 35,1 0 15 3 17,2 8 09 7 98,51 snoitutitsni yrotisopeD 0 0 0 0 0 0 0 0 0 0 4 20,4 0 4 20,4 tnuocca lareneg—yrusaerT .S.U 3 1 1 1 1 3 2 7 3 1 9 4 2 2 7 stnuocca laiciffo—ngieroF 0 0 1 0 2 1 0 4 5 1 0 2 41 3 1 7 12 rehtO 085,1 5 37 0 16 6 14 8 45 2 03,2 7 01,1 4 10,3 7 35,1 1 15 8 29,6 4 29 1 12,02 stisoped latoT 804,2 6 33 6 53 2 05 3 22 9 95 1 28 2 75 3 83 0 74 0 58 0 65 0 80,8 smeti tiderc derrefeD deurcca dna seitilibail rehtO 002 5 9 7 9 0 8 8 01 3 62 3 02 3 62 5 41 9 01 6 57 1 51 9 64,2 )2( sdnedivid 353,25 6 67,22 2 54,81 8 97,41 0 15,02 3 55,86 1 39,64 8 50,15 7 38,03 0 28,12 7 32,962 3 62,23 7 75,946 SEITILIBAIL LATOT STNUOCCA LATIPAC 528 9 61 2 91 4 03 8 02 0 18 2 54 5 11,2 4 86 3 22 3 86,1 0 34 6 90,8 ni diap latipaC 697 4 61 1 91 8 11 9 41 3 97 5 35 7 57,1 5 66 1 22 4 05,1 8 14 2 13,7 sulpruS 111 6 2 4 2 3 1 2 8 5 01 2 6 6 84 7 7 0 3 3 54 2 6 0 35,1 stnuocca latipac rehtO LATIPAC DNA SEITILIBAIL LATOT 480,45 5 21,32 8 58,81 3 32,51 8 49,02 1 62,07 9 79,74 7 14,55 3 62,23 5 92,22 7 78,272 4 71,33 4 15,666 STNUOCCA STNUOCCA ’STNEGA EVRESER LAREDEF 765,66 0 41,43 9 31,12 8 09,51 5 86,32 0 50,27 3 36,16 3 42,75 5 25,33 1 83,72 1 45,303 3 61,53 5 79,157 gnidnatstuo seton .R.F 204,81 0 45,21 9 47,3 8 01,2 4 50,4 1 66,6 2 38,61 4 30,01 2 57,4 0 56,6 8 38,24 5 35,4 7 51,331 sknaB .R.F yb dleH—sseL 561,84 9 95,12 0 93,71 0 08,31 1 36,91 9 83,56 1 08,44 9 02,74 2 77,82 0 37,02 2 07,062 8 26,03 8 18,816 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 475,506 )3( seitiruces ycnega dna .tvog .S.U 818,816 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