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 30, 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 29, 2002 May 22, 2002 May 30, 2001 May 29, 2002 Reserve Bank Credit 655,848 + 12,034 + 65,276 673,631 U.S. government securities (1) Bought outright-system account (2,3) 587,669 + 2,547 + 58,501 587,559 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) 31,204 + 8,311 + 4,670 47,425 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 7 - 5 - 15 3 Seasonal credit 129 + 24 + 43 143 Extended credit 0 0 0 0 Float -180 + 568 + 327 1,179 Other F.R. assets 37,009 + 588 + 1,750 37,312 Gold stock 11,044 0 - 2 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 33,717 + 14 + 1,184 33,717 Total factors supplying reserve funds 702,808 + 12,047 + 66,458 720,591 Currency in circulation* 653,948 + 5,197 + 58,978 656,219 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 412 + 1 - 98 416 Deposits, other than reserve balances, with F.R. Banks Treasury 5,012 + 98 - 136 3,947 Foreign 109 + 33 - 39 208 Service-related balances and adjustments (5) 10,159 0 + 3,281 10,159 Other 207 - 10 - 87 210 Other F.R. liabilities and capital 19,701 + 241 + 1,741 19,306 Total factors, other than reserve balances, absorbing reserve funds 689,548 + 5,562 + 63,640 690,465 Reserve balances with F.R. Banks (6) 13,260 + 6,486 + 2,818 30,126 On May 29, 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 $ 755,858 million, a change of $ + 8,688 million for the week. The total includes $ 612,484 million of U.S. government securities and $ 143,373 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 $ 21,611 million (daily average over statement week) and $ 21,738 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 21,611 million (daily average) and $ 21,738 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 83 million (daily average) and $ 537 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 $ 1,138 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 $ 9,770 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 29, 2002 May 22, 2002 May 30, 2001 ASSETS Gold certificate account 11,044 0 - 2 Special drawing rights certificate account 2,200 0 0 Coin 928 - 9 - 142 Loans 146 + 11 + 56 Acceptances 0 0 0 Repurchase agreements — triparty (1) 47,425 + 23,925 + 5,045 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright—Bills 194,822 + 1,604 + 16,036 Notes (3) 287,329 + 1,319 + 34,972 Bonds (4) 105,408 + 34 + 7,178 Total bought outright (5) 587,559 + 2,957 + 58,187 Held under repurchase agreements 0 0 0 Total U.S. government securities 587,559 + 2,957 + 58,187 Total loans and securities 635,140 + 26,893 + 63,287 Items in process of collection (1,096) 10,850 + 4,380 + 238 Bank premises 1,516 + 1 + 17 Other assets (6) 35,547 + 504 + 1,734 TOTAL ASSETS (1,096) 697,225 + 31,769 + 65,131 LIABILITIES Federal Reserve notes 623,847 + 5,029 + 58,205 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 40,014 + 24,117 + 6,019 U.S. Treasury—general account 3,947 - 77 - 354 Foreign—official accounts 208 + 136 + 136 Other (0) 210 - 7 - 85 Total deposits (0) 44,379 + 24,168 + 5,715 Deferred availability cash items (1,096) 9,693 + 2,671 - 357 Other liabilities and accrued dividends (7) 2,522 + 53 - 868 TOTAL LIABILITIES (1,096) 680,441 + 31,922 + 62,695 CAPITAL ACCOUNTS Capital paid in 8,267 + 171 + 1,198 Surplus 7,312 0 + 746 Other capital accounts 1,206 - 324 + 494 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 $ 671 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 $ 467 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 21,738 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 537 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 29, 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 140 26,248 - 546 0 0 42,425 0 16 days to 90 days 7 128,379 + 1,976 0 0 5,000 0 91 days to 1 year 0 133,249 + 1,488 0 0 ——— ——— Over 1 year to 5 years ——— 166,469 + 2 10 0 ——— ——— Over 5 years to 10 years ——— 51,685 + 31 0 0 ——— ——— Over 10 years ——— 81,529 + 7 0 0 ——— ——— Total 146 587,559 + 2,957 10 0 47,425 0 1 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,138 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 29, 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 92 8 4 8 4 9 4 6 4 5 12 5 9 2 11 9 5 3 3 5 6 7 12 3 125 Loans 14 6 8 0 0 0 2 2 4 2 2 9 3 9 1 3 3 9 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 47,42 5 0 47,42 5 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 194,82 2 11,16 2 76,65 5 7,49 1 10,74 9 15,19 5 13,87 2 22,92 7 6,92 7 3,04 6 5,75 9 4,32 4 16,715 Notes (3) 287,32 9 16,46 2 113,05 3 11,04 9 15,85 3 22,41 0 20,45 9 33,81 3 10,21 7 4,49 2 8,49 3 6,37 7 24,652 Bonds (4) 105,40 8 6,03 9 41,47 4 4,05 3 5,81 6 8,22 1 7,50 5 12,40 4 3,74 8 1,64 8 3,11 6 2,33 9 9,044 Total bought outright (5) 587,55 9 33,66 4 231,18 1 22,59 3 32,41 8 45,82 5 41,83 7 69,14 4 20,89 2 9,18 5 17,36 8 13,04 0 50,410 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 587,55 9 33,66 4 231,18 1 22,59 3 32,41 8 45,82 5 41,83 7 69,14 4 20,89 2 9,18 5 17,36 8 13,04 0 50,410 Total loans and securities 635,14 0 33,67 2 278,61 0 22,59 4 32,41 9 45,82 8 41,83 9 69,18 7 20,92 1 9,22 4 17,38 2 13,04 3 50,420 Items in process of collection 11,94 6 83 8 1,30 6 58 3 43 8 89 9 1,63 4 98 4 59 2 62 0 61 5 38 3 3,054 Bank premises 1,51 6 9 2 18 2 4 9 15 1 13 0 28 1 10 7 4 3 12 3 4 9 13 7 172 Other assets (6) 35,54 7 1,85 8 12,47 1 1,17 1 2,38 3 5,18 5 2,38 9 3,65 5 93 9 61 0 93 4 78 4 3,168 Interdistrict settlement account 0 - 1,55 9 - 8,49 0 - 2,10 9 - 1,17 6 + 4,20 0 + 2,11 2 - 2,24 2 - 1,24 6 + 4,85 2 - 14 2 + 8,41 4 - 2,613 TOTAL ASSETS 698,32 1 35,59 7 289,37 0 22,84 7 34,88 7 57,33 4 49,43 9 73,10 3 21,71 9 15,67 3 19,28 0 23,46 7 55,605 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 $ 671 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 $ 467 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 21,738 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 537 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 29, 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 623,84 7 31,07 4 262,46 9 20,87 5 28,95 0 47,85 2 45,38 7 65,84 3 19,77 5 13,87 3 17,42 7 21,73 3 48,589 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 40,01 4 2,63 1 17,04 7 64 5 3,92 3 3,91 6 1,82 7 4,44 0 1,07 5 68 8 94 9 84 4 2,032 U.S. Treasury—general account 3,94 7 0 3,94 7 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 20 8 2 18 4 1 3 7 2 3 1 1 1 1 3 Other 21 0 9 13 3 0 1 6 1 0 1 2 0 1 0 0 Total deposits 44,37 9 2,64 2 21,31 1 64 6 3,92 7 3,98 4 1,82 9 4,44 4 1,07 7 68 9 95 1 84 5 2,035 Deferred credit items 10,78 9 83 8 1,08 7 75 0 46 6 95 7 97 7 86 7 32 5 58 7 40 6 44 2 3,086 Other liabilities and accrued dividends (2) 2,52 2 15 3 77 3 11 1 14 6 26 8 20 8 27 0 11 0 8 2 9 9 9 6 205 TOTAL LIABILITIES 681,53 7 34,70 5 285,64 0 22,38 1 33,48 9 53,06 1 48,40 1 71,42 5 21,28 8 15,23 1 18,88 3 23,11 6 53,916 CAPITAL ACCOUNTS Capital paid in 8,26 7 43 2 1,83 4 22 3 68 5 2,11 5 46 9 81 0 20 8 30 4 19 2 16 9 826 Surplus 7,31 2 41 8 1,50 4 22 1 66 5 1,75 7 53 5 79 3 14 9 11 8 19 1 16 4 796 Other capital accounts 1,20 6 4 2 39 2 2 1 4 9 40 0 3 4 7 4 7 5 1 9 1 4 1 7 67 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 698,32 1 35,59 7 289,37 0 22,84 7 34,88 7 57,33 4 49,43 9 73,10 3 21,71 9 15,67 3 19,28 0 23,46 7 55,605 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 752,13 7 35,43 2 304,26 8 27,26 1 33,47 3 57,27 3 61,45 2 71,93 0 23,63 7 15,88 7 21,10 6 34,05 0 66,368 Less—Held by F.R. Banks 128,29 0 4,35 8 41,79 8 6,38 6 4,52 3 9,42 1 16,06 5 6,08 7 3,86 2 2,01 5 3,67 9 12,31 6 17,779 F.R. notes, net 623,84 7 31,07 4 262,46 9 20,87 5 28,95 0 47,85 2 45,38 7 65,84 3 19,77 5 13,87 3 17,42 7 21,73 3 48,589 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) 610,603 Total collateral 623,847 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.