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 29, 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 Aug 28, 2002 Aug 21, 2002 Aug 29, 2001 Aug 28, 2002 Reserve Bank Credit 655,650 - 2,985 + 55,075 657,499 U.S. government securities (1) Bought outright-system account (2,3) 603,770 + 1,631 + 61,896 604,401 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) 13,464 - 6,036 - 9,041 16,000 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 783 + 781 + 746 0 Seasonal credit 198 + 7 + 59 189 Extended credit 0 0 0 0 Float -21 + 284 + 78 -879 Other F.R. assets 37,447 + 349 + 1,337 37,778 Gold stock 11,042 0 - 2 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 34,107 + 14 + 1,196 34,107 Total factors supplying reserve funds 702,999 - 2,972 + 56,269 704,848 Currency in circulation* 659,928 - 420 + 51,351 662,461 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 369 - 2 - 41 361 Deposits, other than reserve balances, with F.R. Banks Treasury 6,013 + 1,626 + 1,012 5,091 Foreign 78 - 51 - 28 77 Service-related balances and adjustments (5) 10,144 - 16 + 2,426 10,144 Other 203 - 8 - 88 199 Other F.R. liabilities and capital 19,294 - 407 + 1,177 19,365 Total factors, other than reserve balances, absorbing reserve funds 696,029 + 721 + 55,809 697,699 Reserve balances with F.R. Banks (6) 6,970 - 3,693 + 460 7,150 On August 28, 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 $ 801,734 million, a change of $ - 3,654 million for the week. The total includes $ 647,429 million of U.S. government securities and $ 154,305 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 $ 21,966 million (daily average over statement week) and $ 21,834 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 21,966 million (daily average) and $ 21,834 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 421 million (daily average) and $ 0 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 $ 1,157 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 $ 9,922 million and adjustments of $ 222 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 Aug 28, 2002 Aug 21, 2002 Aug 29, 2001 ASSETS Gold certificate account 11,038 0 - 6 Special drawing rights certificate account 2,200 0 0 Coin 1,021 + 4 - 85 Loans 189 - 15 - 85 Acceptances 0 0 0 Repurchase agreements — triparty (1) 16,000 - 9,250 - 8,755 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright—Bills 203,772 + 633 + 19,062 Notes (3) 294,640 + 726 + 37,541 Bonds (4) 105,989 + 123 + 4,925 Total bought outright (5) 604,401 + 1,482 + 61,528 Held under repurchase agreements 0 0 0 Total U.S. government securities 604,401 + 1,482 + 61,528 Total loans and securities 620,600 - 7,783 + 52,689 Items in process of collection (1,231) 6,626 - 365 + 7 Bank premises 1,522 0 + 10 Other assets (6) 36,256 + 519 + 1,487 TOTAL ASSETS (1,231) 679,263 - 7,625 + 54,103 LIABILITIES Federal Reserve notes 629,732 + 1,545 + 49,883 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 17,849 - 9,424 + 2,323 U.S. Treasury—general account 5,091 + 462 + 416 Foreign—official accounts 77 - 12 - 74 Other (0) 199 - 3 - 83 Total deposits (0) 23,216 - 8,977 + 2,582 Deferred availability cash items (1,231) 6,950 - 352 + 121 Other liabilities and accrued dividends (7) 2,392 + 4 - 663 TOTAL LIABILITIES (1,231) 662,290 - 7,781 + 51,923 CAPITAL ACCOUNTS Capital paid in 8,248 - 55 + 1,058 Surplus 7,312 0 + 565 Other capital accounts 1,413 + 210 + 558 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 $ 648 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 $ 509 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 21,834 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 0 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, August 28, 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 178 25,257 + 531 0 0 14,000 0 16 days to 90 days 11 123,556 + 960 0 0 2,000 0 91 days to 1 year 0 149,625 - 858 0 0 ——— ——— Over 1 year to 5 years ——— 172,868 + 725 10 0 ——— ——— Over 5 years to 10 years ——— 51,380 + 122 0 0 ——— ——— Over 10 years ——— 81,715 + 1 0 0 ——— ——— Total 189 604,401 + 1,482 10 0 16,000 0 1 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,157 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 August 28, 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 1,02 1 4 1 4 7 4 7 5 3 12 8 13 6 13 3 6 2 3 3 7 0 14 6 125 Loans 18 9 0 0 0 0 0 8 4 2 3 3 7 4 2 2 9 2 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 16,00 0 0 16,00 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 203,77 2 11,67 5 80,17 6 7,83 6 11,24 3 15,89 3 14,50 9 23,98 0 7,24 6 3,18 5 6,02 3 4,52 2 17,483 Notes (3) 294,64 0 16,88 1 115,92 9 11,33 0 16,25 7 22,98 0 20,98 0 34,67 3 10,47 7 4,60 6 8,71 0 6,53 9 25,279 Bonds (4) 105,98 9 6,07 3 41,70 2 4,07 6 5,84 8 8,26 6 7,54 7 12,47 3 3,76 9 1,65 7 3,13 3 2,35 2 9,093 Total bought outright (5) 604,40 1 34,62 9 237,80 8 23,24 1 33,34 8 47,13 9 43,03 6 71,12 6 21,49 1 9,44 8 17,86 6 13,41 4 51,855 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 604,40 1 34,62 9 237,80 8 23,24 1 33,34 8 47,13 9 43,03 6 71,12 6 21,49 1 9,44 8 17,86 6 13,41 4 51,855 Total loans and securities 620,60 0 34,62 9 253,81 2 23,24 1 33,34 8 47,14 0 43,04 4 71,16 9 21,52 5 9,52 2 17,88 8 13,42 3 51,858 Items in process of collection 7,85 7 45 2 85 4 35 1 27 9 53 3 68 5 77 2 37 4 53 5 52 2 29 8 2,201 Bank premises 1,52 2 9 1 18 3 4 9 15 2 13 0 27 9 11 1 4 3 12 5 4 9 13 8 172 Other assets (6) 36,25 6 1,89 2 12,64 2 1,15 3 2,45 2 5,36 7 2,43 2 3,72 2 95 0 62 2 94 9 79 7 3,278 Interdistrict settlement account 0 - 6,11 1 +21,78 9 - 4,04 2 - 6,21 1 - 36 9 - 1,35 4 - 9,07 5 - 2,47 6 + 4,07 3 - 2,10 1 +10,96 4 - 5,086 TOTAL ASSETS 680,49 4 31,64 3 294,56 4 21,31 1 30,69 9 53,89 4 46,31 5 68,12 3 20,89 3 15,11 9 17,75 3 26,35 0 53,828 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 $ 648 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 $ 509 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 21,834 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 0 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 August 28, 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 629,73 2 29,35 4 278,98 5 19,29 8 28,12 2 46,15 7 43,11 6 62,47 2 19,65 2 13,59 8 16,30 2 24,82 3 47,852 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 17,84 9 69 8 4,92 9 87 9 71 9 2,52 2 1,23 7 2,99 6 46 6 34 7 59 3 68 6 1,777 U.S. Treasury—general account 5,09 1 0 5,09 1 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 7 7 2 5 3 1 3 7 2 3 1 1 1 1 3 Other 19 9 1 3 13 5 1 1 4 2 3 0 1 0 1 0 0 Total deposits 23,21 6 71 2 10,20 8 88 1 72 3 2,57 1 1,24 2 2,99 9 46 8 34 8 59 5 68 7 1,780 Deferred credit items 8,18 1 54 1 80 5 53 4 31 3 78 1 71 9 68 2 25 0 54 0 34 1 38 7 2,285 Other liabilities and accrued dividends (2) 2,39 2 14 6 74 7 10 6 13 7 23 2 19 8 25 8 10 7 7 9 9 7 9 0 196 TOTAL LIABILITIES 663,52 1 30,75 3 290,74 6 20,81 9 29,29 6 49,74 1 45,27 5 66,41 1 20,47 7 14,56 6 17,33 5 25,98 8 52,113 CAPITAL ACCOUNTS Capital paid in 8,24 8 43 2 1,77 0 23 7 68 8 2,06 6 47 3 83 6 20 1 32 6 19 9 18 2 838 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 1,41 3 4 0 54 4 3 4 5 1 32 9 3 3 8 2 6 6 11 0 2 7 1 7 81 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 680,49 4 31,64 3 294,56 4 21,31 1 30,69 9 53,89 4 46,31 5 68,12 3 20,89 3 15,11 9 17,75 3 26,35 0 53,828 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 747,48 9 34,34 8 312,86 7 26,50 7 32,66 5 55,77 8 58,92 6 68,70 2 23,03 7 15,51 2 20,68 5 33,96 6 64,496 Less—Held by F.R. Banks 117,75 7 4,99 5 33,88 2 7,20 9 4,54 3 9,62 1 15,81 1 6,22 9 3,38 5 1,91 4 4,38 3 9,14 3 16,644 F.R. notes, net 629,73 2 29,35 4 278,98 5 19,29 8 28,12 2 46,15 7 43,11 6 62,47 2 19,65 2 13,59 8 16,30 2 24,82 3 47,852 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) 616,494 Total collateral 629,732 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.