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. August 1, 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 31, 2002 Jul 24, 2002 Aug 1, 2001 Jul 31, 2002 Reserve Bank Credit 655,498 - 3,165 + 59,126 659,027 U.S. government securities (1) Bought outright-system account (2,3) 600,142 + 2,526 + 64,069 600,455 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) 15,429 - 5,678 - 6,885 19,500 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 23 + 8 + 17 4 Seasonal credit 180 - 3 - 16 182 Extended credit 0 0 0 0 Float -486 - 80 - 303 -950 Other F.R. assets 40,200 + 62 + 2,244 39,826 Gold stock 11,044 0 0 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 33,983 + 14 + 1,257 33,983 Total factors supplying reserve funds 702,724 - 3,152 + 60,383 706,252 Currency in circulation* 659,578 - 81 + 57,087 661,131 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 381 + 3 - 37 377 Deposits, other than reserve balances, with F.R. Banks Treasury 5,779 + 468 + 548 6,242 Foreign 94 + 17 + 15 164 Service-related balances and adjustments (5) 10,222 - 17 + 2,860 10,222 Other 216 - 2 - 90 236 Other F.R. liabilities and capital 19,201 - 564 + 1,144 18,940 Total factors, other than reserve balances, absorbing reserve funds 695,471 - 176 + 61,526 697,311 Reserve balances with F.R. Banks (6) 7,254 - 2,975 - 1,142 8,941 On July 31, 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 $ 798,001 million, a change of $ + 7,038 million for the week. The total includes $ 645,831 million of U.S. government securities and $ 152,171 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 $ 22,498 million (daily average over statement week) and $ 22,185 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 22,498 million (daily average) and $ 22,185 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 2,203 million (daily average) and $ 2,544 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,151 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 $ 9,962 million and adjustments of $ 259 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 31, 2002 Jul 24, 2002 Aug 1, 2001 ASSETS Gold certificate account 11,038 - 1 - 6 Special drawing rights certificate account 2,200 0 0 Coin 947 + 25 - 163 Loans 186 - 102 - 6 Acceptances 0 0 0 Repurchase agreements — triparty (1) 19,500 - 7,250 - 7,650 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright—Bills 202,969 - 55 + 22,264 Notes (3) 291,777 0 + 37,149 Bonds (4) 105,709 0 + 4,941 Total bought outright (5) 600,455 - 55 + 64,355 Held under repurchase agreements 0 0 0 Total U.S. government securities 600,455 - 55 + 64,355 Total loans and securities 620,151 - 7,408 + 56,699 Items in process of collection (1,026) 6,498 - 393 - 1,862 Bank premises 1,519 - 3 + 14 Other assets (6) 38,193 - 526 + 2,158 TOTAL ASSETS (1,026) 680,546 - 8,306 + 56,840 LIABILITIES Federal Reserve notes 628,468 + 534 + 54,732 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 19,183 - 10,166 - 164 U.S. Treasury—general account 6,242 + 1,157 + 2,094 Foreign—official accounts 164 + 86 + 92 Other (0) 236 + 9 - 94 Total deposits (0) 25,825 - 8,914 + 1,928 Deferred availability cash items (1,026) 7,313 + 361 - 1,125 Other liabilities and accrued dividends (7) 2,363 - 28 - 692 TOTAL LIABILITIES (1,026) 663,969 - 8,048 + 54,843 CAPITAL ACCOUNTS Capital paid in 8,266 + 1 + 1,101 Surplus 7,312 0 + 587 Other capital accounts 999 - 259 + 309 1 Cash value of agreements arranged through third-party custodial banks. 2 Face value of the securities. 3 Includes $ 7,168 million of inflation-indexed securities valued at the original face amount and $ 644 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,074 million of inflation-indexed securities valued at the original face amount and $ 507 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 22,185 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 2,544 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 31, 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 151 21,605 - 875 0 0 17,500 0 16 days to 90 days 35 124,250 - 6,436 0 0 2,000 0 91 days to 1 year 0 147,388 + 5,625 0 0 ——— ——— Over 1 year to 5 years ——— 171,575 + 1,631 10 0 ——— ——— Over 5 years to 10 years ——— 54,005 0 0 0 ——— ——— Over 10 years ——— 81,632 0 0 0 ——— ——— Total 186 600,455 - 55 10 0 19,500 0 1 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,151 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 31, 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 8 53 3 4,36 3 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 7 4 0 4 7 4 1 4 6 12 5 12 1 11 5 5 7 3 3 6 6 13 6 119 Loans 18 6 0 3 0 0 0 6 4 4 3 4 6 9 2 0 9 2 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 19,50 0 0 19,50 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 202,96 9 11,62 9 79,86 0 7,80 5 11,19 9 15,83 0 14,45 2 23,88 5 7,21 7 3,17 3 6,00 0 4,50 5 17,414 Notes (3) 291,77 7 16,71 7 114,80 3 11,22 0 16,09 9 22,75 7 20,77 6 34,33 6 10,37 5 4,56 1 8,62 5 6,47 6 25,033 Bonds (4) 105,70 9 6,05 7 41,59 2 4,06 5 5,83 2 8,24 5 7,52 7 12,44 0 3,75 9 1,65 3 3,12 5 2,34 6 9,069 Total bought outright (5) 600,45 5 34,40 3 236,25 6 23,08 9 33,13 0 46,83 1 42,75 5 70,66 2 21,35 1 9,38 7 17,74 9 13,32 6 51,517 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 600,45 5 34,40 3 236,25 6 23,08 9 33,13 0 46,83 1 42,75 5 70,66 2 21,35 1 9,38 7 17,74 9 13,32 6 51,517 Total loans and securities 620,15 1 34,40 3 255,76 3 23,09 0 33,13 1 46,83 2 42,76 1 70,70 6 21,38 5 9,45 5 17,77 0 13,33 6 51,519 Items in process of collection 7,52 4 51 7 68 8 43 3 29 1 52 9 53 3 56 8 36 5 54 2 55 6 20 8 2,295 Bank premises 1,51 9 9 1 18 3 4 9 15 2 13 0 27 9 11 1 4 3 12 4 4 9 13 7 172 Other assets (6) 38,19 3 2,00 5 13,41 8 1,26 1 2,55 3 5,50 1 2,57 4 3,95 5 1,02 0 65 1 1,00 7 84 1 3,407 Interdistrict settlement account 0 - 5,35 3 +18,46 8 - 3,90 7 - 6,16 0 - 1,34 1 - 10 0 - 7,99 5 - 2,02 4 + 4,11 6 - 1,49 5 +10,90 0 - 5,109 TOTAL ASSETS 681,57 2 32,35 2 293,80 3 21,47 9 30,63 9 52,74 1 47,26 1 68,75 2 21,26 4 15,12 9 18,32 8 26,14 1 53,683 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 $ 7,168 million of inflation-indexed securities valued at the original face amount and $ 644 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,074 million of inflation-indexed securities valued at the original face amount and $ 507 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 22,185 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 2,544 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 31, 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 628,46 8 29,94 9 275,06 3 19,67 4 27,91 3 46,07 8 43,96 0 63,62 6 19,75 8 13,64 2 16,48 1 24,66 7 47,657 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 19,18 3 78 6 6,82 8 77 2 83 6 1,68 0 1,30 0 2,53 9 71 8 36 9 90 6 68 8 1,762 U.S. Treasury—general account 6,24 2 0 6,24 2 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 16 4 2 14 0 1 3 7 2 3 1 1 1 1 3 Other 23 6 1 1 12 6 0 0 5 9 0 1 3 6 0 1 1 1 Total deposits 25,82 5 79 9 13,33 5 77 3 83 9 1,74 6 1,30 3 2,54 3 75 4 37 0 90 8 68 9 1,766 Deferred credit items 8,33 9 59 2 83 2 45 2 39 1 63 5 79 1 67 5 23 7 53 3 44 7 35 3 2,402 Other liabilities and accrued dividends (2) 2,36 3 14 4 75 0 10 6 13 5 22 6 19 7 25 5 10 5 7 5 9 5 8 9 185 TOTAL LIABILITIES 664,99 5 31,48 4 289,98 1 21,00 5 29,27 8 48,68 4 46,25 0 67,09 9 20,85 4 14,62 0 17,93 1 25,79 8 52,011 CAPITAL ACCOUNTS Capital paid in 8,26 6 43 2 1,85 2 23 5 68 7 2,05 9 47 3 81 8 20 1 30 5 19 8 16 9 836 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 99 9 1 8 46 6 1 8 1 0 24 0 3 4 1 5 9 8 6 9 9 40 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 681,57 2 32,35 2 293,80 3 21,47 9 30,63 9 52,74 1 47,26 1 68,75 2 21,26 4 15,12 9 18,32 8 26,14 1 53,683 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 748,24 3 34,77 0 310,35 6 26,50 8 32,58 3 56,05 4 59,68 2 69,87 8 23,28 9 15,62 5 20,82 4 33,68 3 64,989 Less—Held by F.R. Banks 119,77 5 4,82 2 35,29 3 6,83 5 4,67 0 9,97 7 15,72 2 6,25 2 3,53 1 1,98 3 4,34 2 9,01 6 17,332 F.R. notes, net 628,46 8 29,94 9 275,06 3 19,67 4 27,91 3 46,07 8 43,96 0 63,62 6 19,75 8 13,64 2 16,48 1 24,66 7 47,657 Collateral held against F.R. notes Gold certificate account 11,038 Special drawing rights certificate account 2,200 Other eligible assets 0 U.S. govt. and agency securities (3) 615,230 Total collateral 628,468 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.