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. July 5, 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 Jul 3, 2002 Jun 26, 2002 Jul 4, 2001 Jul 3, 2002 Reserve Bank Credit 659,792 + 3,731 + 65,397 656,495 U.S. government securities (1) Bought outright-system account (2,3) 590,854 - 834 + 56,808 591,256 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) 30,000 + 4,179 + 7,814 26,500 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 9 + 4 - 18 1 Seasonal credit 168 + 6 + 20 163 Extended credit 0 0 0 0 Float -214 - 65 - 1,398 -186 Other F.R. assets 38,964 + 440 + 2,170 38,751 Gold stock 11,044 0 0 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 33,787 + 14 + 1,117 33,787 Total factors supplying reserve funds 706,822 + 3,745 + 66,514 703,525 Currency in circulation* 659,775 + 4,530 + 61,389 664,157 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 395 - 2 - 45 395 Deposits, other than reserve balances, with F.R. Banks Treasury 6,148 - 815 - 296 5,174 Foreign 83 - 21 - 39 79 Service-related balances and adjustments (5) 10,134 - 169 + 2,562 10,134 Other 231 - 6 - 54 243 Other F.R. liabilities and capital 20,106 - 147 + 2,381 19,354 Total factors, other than reserve balances, absorbing reserve funds 696,872 + 3,372 + 65,898 699,535 Reserve balances with F.R. Banks (6) 9,950 + 373 + 616 3,990 On July 3, 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 $ 792,994 million, a change of $ + 15,952 million for the week. The total includes $ 632,733 million of U.S. government securities and $ 160,260 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 $ 23,723 million (daily average over statement week) and $ 24,442 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 23,723 million (daily average) and $ 24,442 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,429 million (daily average) and $ 1,765 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 $ 1,216 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 $ 9,902 million and adjustments of $ 233 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 Jul 3, 2002 Jun 26, 2002 Jul 4, 2001 ASSETS Gold certificate account 11,044 0 0 Special drawing rights certificate account 2,200 0 0 Coin 905 - 26 - 187 Loans 164 - 16 + 7 Acceptances 0 0 0 Repurchase agreements — triparty (1) 26,500 - 7,750 + 6,150 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright—Bills 196,164 - 2,186 + 15,436 Notes (3) 289,505 + 901 + 37,077 Bonds (4) 105,586 + 150 + 5,788 Total bought outright (5) 591,256 - 1,134 + 58,302 Held under repurchase agreements 0 0 0 Total U.S. government securities 591,256 - 1,134 + 58,302 Total loans and securities 617,930 - 8,900 + 64,459 Items in process of collection (1,041) 8,953 + 1,715 - 4,641 Bank premises 1,518 0 + 8 Other assets (6) 37,229 - 170 + 2,581 TOTAL ASSETS (1,041) 679,779 - 7,381 + 62,220 LIABILITIES Federal Reserve notes 631,671 + 6,276 + 61,171 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 14,613 - 11,990 + 1,791 U.S. Treasury—general account 5,174 - 2,446 - 510 Foreign—official accounts 79 + 5 0 Other (0) 243 + 4 - 59 Total deposits (0) 20,108 - 14,428 + 1,222 Deferred availability cash items (1,041) 8,646 + 1,547 - 1,780 Other liabilities and accrued dividends (7) 2,317 - 266 - 754 TOTAL LIABILITIES (1,041) 662,742 - 6,872 + 59,860 CAPITAL ACCOUNTS Capital paid in 8,334 + 4 + 1,191 Surplus 7,312 0 + 714 Other capital accounts 1,391 - 514 + 455 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 $ 715 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 $ 501 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 24,442 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,765 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, July 3, 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 46 18,619 - 3,514 0 0 17,500 0 16 days to 90 days 118 134,956 + 923 0 0 9,000 0 91 days to 1 year 0 134,401 - 293 0 0 ——— ——— Over 1 year to 5 years ——— 169,228 + 1,740 10 0 ——— ——— Over 5 years to 10 years ——— 52,489 + 5 0 0 ——— ——— Over 10 years ——— 81,563 + 5 0 0 ——— ——— Total 164 591,256 - 1,134 10 0 26,500 0 1 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,216 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 July 3, 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 90 5 4 4 4 1 4 2 4 4 12 2 10 1 11 3 5 5 3 4 6 5 12 7 118 Loans 16 4 2 0 0 0 0 4 4 8 3 1 4 9 2 0 5 7 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 26,50 0 0 26,50 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 196,16 4 11,23 9 77,18 3 7,54 3 10,82 3 15,29 9 13,96 8 23,08 5 6,97 5 3,06 7 5,79 9 4,35 4 16,830 Notes (3) 289,50 5 16,58 7 113,90 9 11,13 2 15,97 3 22,57 9 20,61 4 34,06 9 10,29 4 4,52 6 8,55 8 6,42 5 24,838 Bonds (4) 105,58 6 6,05 0 41,54 4 4,06 0 5,82 6 8,23 5 7,51 8 12,42 5 3,75 4 1,65 1 3,12 1 2,34 3 9,059 Total bought outright (5) 591,25 6 33,87 6 232,63 6 22,73 5 32,62 2 46,11 4 42,10 0 69,57 9 21,02 4 9,24 3 17,47 7 13,12 2 50,727 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 591,25 6 33,87 6 232,63 6 22,73 5 32,62 2 46,11 4 42,10 0 69,57 9 21,02 4 9,24 3 17,47 7 13,12 2 50,727 Total loans and securities 617,93 0 33,87 8 259,14 0 22,73 6 32,62 3 46,11 4 42,10 4 69,62 9 21,05 5 9,29 2 17,49 7 13,12 7 50,735 Items in process of collection 9,99 4 63 2 83 8 40 7 55 3 61 7 1,03 5 83 6 48 2 66 4 66 0 59 7 2,674 Bank premises 1,51 8 9 2 18 3 4 9 15 2 13 0 28 0 10 9 4 3 12 4 4 9 13 7 171 Other assets (6) 37,22 9 1,94 8 13,02 2 1,25 9 2,49 8 5,42 0 2,50 4 3,84 2 98 4 63 5 97 8 81 8 3,321 Interdistrict settlement account 0 - 3,91 2 + 6,68 0 - 2,88 2 - 4,75 3 + 1,17 6 + 1,01 9 - 5,70 0 - 1,77 5 + 4,58 7 - 1,05 8 + 9,72 7 - 3,109 TOTAL ASSETS 680,81 9 33,33 0 285,14 6 22,12 4 31,74 3 54,54 5 48,13 6 70,12 0 21,26 0 15,54 5 18,56 6 25,11 5 55,190 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 $ 715 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 $ 501 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 24,442 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,765 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 July 3, 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 631,67 1 30,93 2 271,24 9 20,58 6 28,40 7 47,01 5 44,79 3 65,04 9 19,98 7 13,97 7 16,98 9 23,63 7 49,049 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 14,61 3 62 2 2,89 6 60 2 1,31 6 2,21 7 1,02 5 2,33 6 46 2 38 6 60 6 59 1 1,554 U.S. Treasury—general account 5,17 4 0 5,17 4 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 7 9 2 5 5 1 3 7 2 3 1 1 1 1 3 Other 24 3 3 4 14 1 0 1 6 0 0 1 3 0 1 1 0 Total deposits 20,10 8 65 8 8,26 6 60 3 1,31 9 2,28 5 1,02 7 2,34 0 46 5 38 6 60 8 59 2 1,558 Deferred credit items 9,68 7 71 1 99 5 34 3 49 1 76 3 1,08 5 79 4 27 1 62 2 46 9 45 0 2,693 Other liabilities and accrued dividends (2) 2,31 7 14 0 74 0 10 5 13 0 21 4 19 4 25 1 10 4 7 3 9 3 8 9 184 TOTAL LIABILITIES 663,78 3 32,44 0 281,25 0 21,63 7 30,34 8 50,27 6 47,09 9 68,43 4 20,82 8 15,05 8 18,16 0 24,76 9 53,484 CAPITAL ACCOUNTS Capital paid in 8,33 4 43 2 1,85 2 23 6 68 6 2,12 2 47 3 81 8 20 8 30 5 19 7 17 0 836 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 1,39 1 3 9 54 0 2 9 4 4 39 0 2 9 7 5 7 5 6 4 1 8 1 2 75 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 680,81 9 33,33 0 285,14 6 22,12 4 31,74 3 54,54 5 48,13 6 70,12 0 21,26 0 15,54 5 18,56 6 25,11 5 55,190 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 751,18 5 35,07 0 309,23 2 26,78 7 33,00 0 56,64 7 60,35 9 70,64 1 23,46 8 15,73 3 20,85 3 33,82 2 65,573 Less—Held by F.R. Banks 119,51 4 4,13 9 37,98 3 6,20 0 4,59 3 9,63 3 15,56 6 5,59 2 3,48 0 1,75 6 3,86 4 10,18 4 16,525 F.R. notes, net 631,67 1 30,93 2 271,24 9 20,58 6 28,40 7 47,01 5 44,79 3 65,04 9 19,98 7 13,97 7 16,98 9 23,63 7 49,049 Collateral held against F.R. notes Gold certificate account 11,044 Special drawing rights certificate account 2,200 Other eligible assets 662 U.S. govt. and agency securities (3) 617,766 Total collateral 631,671 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.