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 11, 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 10, 2002 Jul 3, 2002 Jul 11, 2001 Jul 10, 2002 Reserve Bank Credit 658,153 - 1,638 + 66,751 661,700 U.S. government securities (1) Bought outright-system account (2,3) 592,626 + 1,772 + 59,859 594,531 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) 25,857 - 4,143 + 5,163 27,000 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 42 + 33 - 108 24 Seasonal credit 167 - 1 + 6 173 Extended credit 0 0 0 0 Float 500 + 715 - 341 329 Other F.R. assets 38,950 - 14 + 2,171 39,632 Gold stock 11,044 0 0 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 33,801 + 14 + 1,117 33,801 Total factors supplying reserve funds 705,198 - 1,623 + 67,869 708,744 Currency in circulation* 663,900 + 4,125 + 62,413 663,898 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 392 - 2 - 47 394 Deposits, other than reserve balances, with F.R. Banks Treasury 4,985 - 1,163 + 189 5,194 Foreign 99 + 16 + 22 84 Service-related balances and adjustments (5) 10,123 - 11 + 2,839 10,123 Other 228 - 3 - 55 221 Other F.R. liabilities and capital 19,575 - 531 + 1,994 19,559 Total factors, other than reserve balances, absorbing reserve funds 699,302 + 2,430 + 67,354 699,473 Reserve balances with F.R. Banks (6) 5,896 - 4,053 + 514 9,271 On July 10, 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 $ 790,575 million, a change of $ - 2,419 million for the week. The total includes $ 635,093 million of U.S. government securities and $ 155,482 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 $ 23,476 million (daily average over statement week) and $ 22,490 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 23,476 million (daily average) and $ 22,490 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 559 million (daily average) and $ 625 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 $ 221 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 10, 2002 Jul 3, 2002 Jul 11, 2001 ASSETS Gold certificate account 11,039 - 5 - 5 Special drawing rights certificate account 2,200 0 0 Coin 885 - 20 - 178 Loans 198 + 34 + 9 Acceptances 0 0 0 Repurchase agreements — triparty (1) 27,000 + 500 - 500 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright—Bills 198,724 + 2,560 + 19,120 Notes (3) 290,167 + 662 + 37,602 Bonds (4) 105,640 + 54 + 4,992 Total bought outright (5) 594,531 + 3,275 + 61,713 Held under repurchase agreements 0 0 0 Total U.S. government securities 594,531 + 3,275 + 61,713 Total loans and securities 621,739 + 3,809 + 61,222 Items in process of collection (955) 7,802 - 1,151 - 225 Bank premises 1,519 + 1 + 7 Other assets (6) 37,939 + 710 + 2,541 TOTAL ASSETS (955) 683,124 + 3,345 + 63,363 LIABILITIES Federal Reserve notes 631,373 - 298 + 60,568 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 19,161 + 4,548 + 1,268 U.S. Treasury—general account 5,194 + 20 - 250 Foreign—official accounts 84 + 5 + 3 Other (0) 221 - 22 - 38 Total deposits (0) 24,660 + 4,552 + 983 Deferred availability cash items (955) 7,532 - 1,114 + 39 Other liabilities and accrued dividends (7) 2,382 + 65 - 689 TOTAL LIABILITIES (955) 665,947 + 3,205 + 60,901 CAPITAL ACCOUNTS Capital paid in 8,268 - 66 + 1,125 Surplus 7,312 0 + 635 Other capital accounts 1,598 + 207 + 704 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 $ 22,490 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 625 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 10, 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 75 16,069 - 2,550 0 0 18,000 0 16 days to 90 days 122 138,640 + 3,684 0 0 9,000 0 91 days to 1 year 0 135,826 + 1,425 0 0 ——— ——— Over 1 year to 5 years ——— 169,944 + 716 10 0 ——— ——— Over 5 years to 10 years ——— 52,489 0 0 0 ——— ——— Over 10 years ——— 81,563 0 0 0 ——— ——— Total 198 594,531 + 3,275 10 0 27,000 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 10, 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 11,03 9 53 3 4,36 4 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 88 5 4 5 3 8 4 2 4 2 11 8 10 2 11 0 5 4 3 4 6 2 12 5 113 Loans 19 8 2 0 0 0 0 5 4 9 4 6 5 4 2 0 6 16 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 27,00 0 0 27,00 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 198,72 4 11,38 6 78,19 0 7,64 1 10,96 5 15,49 9 14,15 0 23,38 6 7,06 6 3,10 7 5,87 4 4,41 0 17,050 Notes (3) 290,16 7 16,62 5 114,16 9 11,15 8 16,01 0 22,63 1 20,66 1 34,14 7 10,31 8 4,53 6 8,57 7 6,44 0 24,895 Bonds (4) 105,64 0 6,05 3 41,56 5 4,06 2 5,82 9 8,23 9 7,52 2 12,43 2 3,75 6 1,65 1 3,12 3 2,34 5 9,064 Total bought outright (5) 594,53 1 34,06 3 233,92 5 22,86 1 32,80 3 46,36 9 42,33 3 69,96 5 21,14 0 9,29 4 17,57 4 13,19 5 51,008 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 594,53 1 34,06 3 233,92 5 22,86 1 32,80 3 46,36 9 42,33 3 69,96 5 21,14 0 9,29 4 17,57 4 13,19 5 51,008 Total loans and securities 621,73 9 34,06 6 260,92 9 22,86 2 32,80 4 46,37 0 42,33 9 70,01 4 21,18 6 9,34 8 17,59 5 13,20 1 51,026 Items in process of collection 8,75 7 51 7 95 5 36 7 48 1 62 9 69 8 59 9 37 2 54 7 50 9 41 7 2,666 Bank premises 1,51 9 9 2 18 3 4 9 15 2 13 0 28 0 11 0 4 3 12 4 4 9 13 8 172 Other assets (6) 37,93 9 1,98 9 13,25 5 1,28 4 2,54 6 5,51 3 2,55 6 3,92 1 1,00 6 64 8 99 9 83 5 3,387 Interdistrict settlement account 0 - 4,17 8 + 8,53 1 - 3,11 1 - 4,56 4 + 30 5 + 1,06 1 - 6,40 0 - 1,63 6 + 4,82 1 - 95 7 +10,13 1 - 4,002 TOTAL ASSETS 684,07 9 33,17 8 289,13 0 22,00 5 32,08 6 54,03 1 48,12 7 69,64 6 21,44 3 15,73 0 18,63 2 25,43 0 54,640 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 $ 22,490 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 625 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 10, 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 631,37 3 30,60 4 272,63 6 20,33 9 28,30 3 46,84 7 44,58 1 64,87 7 19,99 8 13,96 5 16,88 6 23,74 9 48,588 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 19,16 1 1,00 0 5,48 6 66 3 1,86 7 2,06 9 1,39 3 2,16 2 69 7 52 9 81 0 87 0 1,615 U.S. Treasury—general account 5,19 4 0 5,19 4 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 8 4 2 6 0 1 3 7 2 3 1 1 1 1 3 Other 22 1 1 2 13 3 0 1 7 0 0 0 3 0 1 1 0 Total deposits 24,66 0 1,01 4 10,87 3 66 4 1,87 1 2,14 5 1,39 6 2,16 5 70 1 52 9 81 2 87 1 1,618 Deferred credit items 8,48 7 51 8 94 5 40 1 36 4 56 6 90 2 63 9 20 2 66 4 42 5 36 6 2,495 Other liabilities and accrued dividends (2) 2,38 2 14 4 74 7 10 7 13 4 21 6 19 8 25 6 10 6 7 5 9 5 9 2 211 TOTAL LIABILITIES 666,90 2 32,28 0 285,20 1 21,51 1 30,67 2 49,77 4 47,07 7 67,93 7 21,00 7 15,23 4 18,21 8 25,07 8 52,912 CAPITAL ACCOUNTS Capital paid in 8,26 8 43 2 1,85 2 23 6 68 6 2,05 4 47 3 81 8 20 8 30 5 19 8 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 1,59 8 4 8 57 3 3 7 6 4 44 5 4 2 9 7 7 9 7 4 2 4 1 9 96 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 684,07 9 33,17 8 289,13 0 22,00 5 32,08 6 54,03 1 48,12 7 69,64 6 21,44 3 15,73 0 18,63 2 25,43 0 54,640 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 750,56 2 35,03 7 309,42 6 26,68 6 32,92 0 56,54 1 60,17 4 70,63 9 23,46 2 15,72 3 20,85 2 33,72 0 65,383 Less—Held by F.R. Banks 119,18 9 4,43 3 36,79 0 6,34 8 4,61 7 9,69 4 15,59 3 5,76 2 3,46 3 1,75 8 3,96 7 9,97 1 16,794 F.R. notes, net 631,37 3 30,60 4 272,63 6 20,33 9 28,30 3 46,84 7 44,58 1 64,87 7 19,99 8 13,96 5 16,88 6 23,74 9 48,588 Collateral held against F.R. notes Gold certificate account 11,039 Special drawing rights certificate account 2,200 Other eligible assets 0 U.S. govt. and agency securities (3) 618,134 Total collateral 631,373 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.