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. June 20, 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 Jun 19, 2002 Jun 12, 2002 Jun 20, 2001 Jun 19, 2002 Reserve Bank Credit 650,788 + 497 + 63,200 649,878 U.S. government securities (1) Bought outright-system account (2,3) 591,354 + 2,294 + 58,448 592,187 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) 22,036 - 1,900 + 4,750 20,750 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 3 - 2 - 54 0 Seasonal credit 131 + 25 + 9 150 Extended credit 0 0 0 0 Float -503 - 280 - 1,505 -1,204 Other F.R. assets 37,756 + 358 + 1,551 37,984 Gold stock 11,044 0 0 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 33,759 + 14 + 1,141 33,759 Total factors supplying reserve funds 697,790 + 511 + 64,340 696,880 Currency in circulation* 654,646 + 406 + 60,628 655,939 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 407 - 4 - 56 397 Deposits, other than reserve balances, with F.R. Banks Treasury 5,894 + 605 + 700 6,899 Foreign 124 + 39 + 23 113 Service-related balances and adjustments (5) 10,248 + 244 + 3,044 10,248 Other 255 + 17 - 29 251 Other F.R. liabilities and capital 19,819 + 70 + 1,754 19,708 Total factors, other than reserve balances, absorbing reserve funds 691,392 + 1,376 + 66,063 693,556 Reserve balances with F.R. Banks (6) 6,398 - 865 - 1,723 3,324 On June 19, 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 $ 773,642 million, a change of $ + 3,140 million for the week. The total includes $ 619,302 million of U.S. government securities and $ 154,340 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 $ 22,576 million (daily average over statement week) and $ 22,023 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 22,576 million (daily average) and $ 22,023 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 930 million (daily average) and $ 1,512 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 $ 1,187 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 $ 9,915 million and adjustments of $ 334 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 Jun 19, 2002 Jun 12, 2002 Jun 20, 2001 ASSETS Gold certificate account 11,044 0 0 Special drawing rights certificate account 2,200 0 0 Coin 945 + 13 - 176 Loans 150 + 43 - 61 Acceptances 0 0 0 Repurchase agreements — triparty (1) 20,750 - 13,750 + 7,000 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright—Bills 198,163 + 2,774 + 16,914 Notes (3) 288,595 + 10 + 35,064 Bonds (4) 105,429 + 7 + 5,727 Total bought outright (5) 592,187 + 2,791 + 57,705 Held under repurchase agreements 0 0 0 Total U.S. government securities 592,187 + 2,791 + 57,705 Total loans and securities 613,097 - 10,917 + 64,644 Items in process of collection (935) 7,116 - 624 - 1,753 Bank premises 1,517 + 1 + 10 Other assets (6) 36,468 + 438 + 1,675 TOTAL ASSETS (935) 672,387 - 11,089 + 64,401 LIABILITIES Federal Reserve notes 623,523 + 70 + 59,405 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 14,341 - 13,589 + 3,267 U.S. Treasury—general account 6,899 + 2,172 + 141 Foreign—official accounts 113 + 4 - 20 Other (0) 251 + 8 - 15 Total deposits (0) 21,604 - 11,405 + 3,373 Deferred availability cash items (935) 7,552 + 67 - 235 Other liabilities and accrued dividends (7) 2,554 - 9 - 804 TOTAL LIABILITIES (935) 655,233 - 11,277 + 61,739 CAPITAL ACCOUNTS Capital paid in 8,320 + 26 + 1,187 Surplus 7,312 0 + 667 Other capital accounts 1,523 + 163 + 808 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 $ 699 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 $ 489 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 22,023 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,512 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, June 19, 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 137 20,213 + 2,708 0 0 16,750 0 16 days to 90 days 13 136,072 - 1,750 0 0 4,000 0 91 days to 1 year 0 134,387 + 1,817 0 0 ——— ——— Over 1 year to 5 years ——— 167,485 + 2 10 0 ——— ——— Over 5 years to 10 years ——— 52,479 + 6 0 0 ——— ——— Over 10 years ——— 81,551 + 8 0 0 ——— ——— Total 150 592,187 + 2,791 10 0 20,750 0 1 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,187 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 June 19, 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 94 5 4 5 4 5 4 3 4 6 12 4 10 0 12 2 5 8 3 7 6 8 12 8 128 Loans 15 0 1 0 0 0 0 2 4 0 3 0 4 5 2 0 4 7 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 20,75 0 0 20,75 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 198,16 3 11,35 4 77,96 9 7,62 0 10,93 4 15,45 5 14,11 0 23,32 0 7,04 6 3,09 8 5,85 8 4,39 8 17,002 Notes (3) 288,59 5 16,53 5 113,55 1 11,09 7 15,92 3 22,50 8 20,54 9 33,96 2 10,26 2 4,51 1 8,53 1 6,40 5 24,760 Bonds (4) 105,42 9 6,04 1 41,48 2 4,05 4 5,81 7 8,22 3 7,50 7 12,40 7 3,74 9 1,64 8 3,11 6 2,34 0 9,045 Total bought outright (5) 592,18 7 33,92 9 233,00 2 22,77 1 32,67 4 46,18 6 42,16 6 69,68 9 21,05 7 9,25 7 17,50 5 13,14 3 50,807 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 592,18 7 33,92 9 233,00 2 22,77 1 32,67 4 46,18 6 42,16 6 69,68 9 21,05 7 9,25 7 17,50 5 13,14 3 50,807 Total loans and securities 613,09 7 33,93 1 253,75 6 22,77 2 32,67 4 46,18 7 42,16 9 69,73 0 21,08 7 9,30 3 17,52 6 13,14 7 50,815 Items in process of collection 8,05 2 51 7 82 2 42 4 31 9 45 1 59 8 54 4 32 9 63 0 44 2 49 3 2,485 Bank premises 1,51 7 9 2 18 2 4 9 15 2 13 0 28 0 10 8 4 3 12 4 4 9 13 8 171 Other assets (6) 36,46 8 1,90 6 12,80 8 1,23 5 2,43 9 5,28 2 2,44 9 3,75 7 96 6 61 9 95 7 80 1 3,251 Interdistrict settlement account 0 - 4,38 3 + 8,97 1 - 2,89 5 - 5,15 2 + 1,87 3 + 1,08 0 - 6,43 6 - 1,90 0 + 4,52 9 - 1,01 5 + 8,45 1 - 3,123 TOTAL ASSETS 673,32 2 32,75 5 281,82 5 22,14 1 31,10 3 55,01 3 47,76 7 69,11 8 21,00 0 15,45 1 18,40 1 23,74 1 55,007 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 $ 699 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 $ 489 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 22,023 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,512 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 June 19, 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 623,52 3 30,45 3 266,87 0 20,55 6 28,20 3 46,86 3 44,53 7 64,33 2 19,71 7 13,86 8 17,02 6 22,31 9 48,778 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 14,34 1 64 6 2,21 8 52 6 93 3 2,86 2 1,08 3 2,10 0 48 0 46 3 58 4 59 7 1,850 U.S. Treasury—general account 6,89 9 0 6,89 9 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 11 3 2 8 9 1 3 7 2 3 1 1 1 1 3 Other 25 1 1 9 13 5 0 1 8 9 0 2 2 0 1 0 0 Total deposits 21,60 4 66 6 9,34 0 52 8 93 7 2,95 9 1,08 6 2,10 5 48 3 46 3 58 6 59 8 1,853 Deferred credit items 8,48 7 58 2 90 8 45 3 40 2 61 3 88 8 70 3 25 0 57 1 29 0 37 7 2,450 Other liabilities and accrued dividends (2) 2,55 4 15 5 78 5 11 2 14 9 27 1 20 9 27 3 11 0 8 4 9 9 9 5 211 TOTAL LIABILITIES 656,16 8 31,85 7 277,90 4 21,64 9 29,69 1 50,70 5 46,72 0 67,41 3 20,56 0 14,98 7 18,00 0 23,38 9 53,292 CAPITAL ACCOUNTS Capital paid in 8,32 0 43 2 1,85 2 23 5 68 6 2,12 2 47 0 81 7 20 8 30 4 19 4 16 9 831 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 1,52 3 4 9 56 5 3 6 6 2 42 9 4 2 9 5 8 2 4 1 1 6 1 8 88 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 673,32 2 32,75 5 281,82 5 22,14 1 31,10 3 55,01 3 47,76 7 69,11 8 21,00 0 15,45 1 18,40 1 23,74 1 55,007 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 752,27 1 35,15 8 307,38 1 27,07 2 33,16 4 56,91 7 61,09 4 70,98 5 23,53 9 15,78 6 20,98 9 34,05 4 66,131 Less—Held by F.R. Banks 128,74 8 4,70 5 40,51 1 6,51 5 4,96 1 10,05 4 16,55 7 6,65 3 3,82 2 1,91 7 3,96 4 11,73 5 17,352 F.R. notes, net 623,52 3 30,45 3 266,87 0 20,55 6 28,20 3 46,86 3 44,53 7 64,33 2 19,71 7 13,86 8 17,02 6 22,31 9 48,778 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) 610,279 Total collateral 623,523 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.