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. September 12, 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 Sep 11, 2002 Sep 4, 2002 Sep 12, 2001 Sep 11, 2002 Reserve Bank Credit 658,198 - 6,916 + 36,502 659,917 U.S. government securities (1) Bought outright-system account (2,3) 604,092 + 1,009 + 63,614 604,520 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) 16,857 - 6,964 - 12,006 18,000 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 1 - 92 - 11,741 1 Seasonal credit 164 - 13 + 69 161 Extended credit 0 0 0 0 Float -642 - 756 - 3,836 -505 Other F.R. assets 37,717 - 99 + 402 37,730 Gold stock 11,042 0 - 2 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 34,135 + 14 + 1,178 34,135 Total factors supplying reserve funds 705,575 - 6,902 + 37,679 707,294 Currency in circulation* 663,431 - 772 + 50,795 663,710 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 361 0 - 61 362 Deposits, other than reserve balances, with F.R. Banks Treasury 5,009 + 214 - 341 4,516 Foreign 130 + 36 + 51 75 Service-related balances and adjustments (5) 10,178 - 6 + 2,600 10,178 Other 223 + 18 - 244 215 Other F.R. liabilities and capital 19,437 - 120 + 213 19,018 Total factors, other than reserve balances, absorbing reserve funds 698,770 - 628 + 53,013 698,075 Reserve balances with F.R. Banks (6) 6,806 - 6,273 - 15,334 9,219 On September 11, 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 $ 808,955 million, a change of $ + 3,411 million for the week. The total includes $ 654,697 million of U.S. government securities and $ 154,258 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 $ 22,426 million (daily average over statement week) and $ 22,142 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 22,426 million (daily average) and $ 22,142 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,024 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 $ 1,163 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 $ 9,961 million and adjustments of $ 217 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 Sep 11, 2002 Sep 4, 2002 Sep 12, 2001 ASSETS Gold certificate account 11,038 0 - 5 Special drawing rights certificate account 2,200 0 0 Coin 1,028 + 8 - 53 Loans 162 - 49 - 45,460 Acceptances 0 0 0 Repurchase agreements — triparty (1) 18,000 - 7,000 - 43,005 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright—Bills 203,886 + 831 + 32,550 Notes (3) 294,643 + 2 + 37,603 Bonds (4) 105,991 + 1 + 3,983 Total bought outright (5) 604,520 + 833 + 74,135 Held under repurchase agreements 0 0 0 Total U.S. government securities 604,520 + 833 + 74,135 Total loans and securities 622,692 - 6,216 - 14,330 Items in process of collection (1,187) 7,258 - 5,955 - 23,670 Bank premises 1,520 0 + 10 Other assets (6) 36,204 + 74 - 10,024 TOTAL ASSETS (1,187) 681,940 - 12,089 - 48,073 LIABILITIES Federal Reserve notes 630,961 - 2,027 + 46,583 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 19,612 - 6,056 - 89,070 U.S. Treasury—general account 4,516 - 85 - 1,477 Foreign—official accounts 75 - 53 + 6 Other (0) 215 - 8 - 935 Total deposits (0) 24,419 - 6,203 - 91,475 Deferred availability cash items (1,187) 7,541 - 3,501 - 78 Other liabilities and accrued dividends (7) 2,425 + 20 - 4,764 TOTAL LIABILITIES (1,187) 665,347 - 11,710 - 49,733 CAPITAL ACCOUNTS Capital paid in 8,253 + 5 + 1,056 Surplus 7,312 0 + 569 Other capital accounts 1,028 - 385 + 36 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 $ 651 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 $ 512 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 22,142 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, September 11, 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 50 18,171 + 1,224 0 0 15,000 0 16 days to 90 days 111 129,519 - 50 0 0 3,000 0 91 days to 1 year 0 148,076 - 344 0 0 ——— ——— Over 1 year to 5 years ——— 175,654 + 1 10 0 ——— ——— Over 5 years to 10 years ——— 51,383 + 2 0 0 ——— ——— Over 10 years ——— 81,717 + 1 0 0 ——— ——— Total 162 604,520 + 833 10 0 18,000 0 1 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,163 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 September 11, 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 8 4 1 4 9 4 7 5 3 13 5 13 5 13 5 5 9 3 3 6 9 14 9 123 Loans 16 2 0 0 0 1 0 8 2 6 3 1 6 5 2 0 1 0 3 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 18,00 0 0 18,00 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 203,88 6 11,68 2 80,22 1 7,84 0 11,24 9 15,90 2 14,51 7 23,99 3 7,25 0 3,18 7 6,02 7 4,52 5 17,493 Notes (3) 294,64 3 16,88 1 115,93 1 11,33 0 16,25 7 22,98 0 20,98 0 34,67 4 10,47 7 4,60 6 8,71 0 6,53 9 25,279 Bonds (4) 105,99 1 6,07 3 41,70 3 4,07 6 5,84 8 8,26 7 7,54 7 12,47 3 3,76 9 1,65 7 3,13 3 2,35 2 9,094 Total bought outright (5) 604,52 0 34,63 6 237,85 5 23,24 6 33,35 4 47,14 8 43,04 4 71,14 0 21,49 5 9,45 0 17,87 0 13,41 6 51,865 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 604,52 0 34,63 6 237,85 5 23,24 6 33,35 4 47,14 8 43,04 4 71,14 0 21,49 5 9,45 0 17,87 0 13,41 6 51,865 Total loans and securities 622,69 2 34,63 6 255,85 9 23,24 6 33,35 5 47,14 9 43,05 3 71,16 7 21,52 6 9,51 5 17,89 0 13,42 6 51,869 Items in process of collection 8,44 5 51 3 83 9 39 4 23 1 54 0 85 3 66 3 46 0 57 2 48 4 33 9 2,557 Bank premises 1,52 0 9 1 18 3 4 9 15 2 13 0 27 9 11 1 4 3 12 5 4 9 13 8 171 Other assets (6) 36,20 4 1,88 4 12,65 9 1,21 8 2,43 6 5,33 2 2,42 7 3,71 4 94 5 61 8 94 8 79 4 3,228 Interdistrict settlement account 0 - 6,56 8 +22,21 1 - 4,44 7 - 5,61 9 - 21 4 - 1,97 0 - 8,56 9 - 2,35 5 + 4,19 4 - 1,92 8 +10,77 9 - 5,515 TOTAL ASSETS 683,12 7 31,24 6 297,03 6 21,02 0 31,23 4 54,03 7 45,86 9 68,51 3 21,09 6 15,26 6 17,88 8 26,20 9 53,713 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 $ 651 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 $ 512 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 22,142 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 September 11, 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 630,96 1 28,97 6 282,20 0 18,82 4 28,17 6 46,51 9 42,31 1 61,96 0 19,55 1 13,67 2 16,44 2 24,71 4 47,618 Reverse repurchase agreements—triparty (1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 19,61 2 72 7 4,84 5 1,16 0 97 9 2,45 4 1,50 2 3,85 2 75 5 39 6 54 9 65 0 1,742 U.S. Treasury—general account 4,51 6 0 4,51 6 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 7 5 2 5 1 1 3 7 2 3 1 1 1 1 3 Other 21 5 7 13 3 0 2 6 9 0 0 2 0 1 0 0 Total deposits 24,41 9 73 6 9,54 5 1,16 1 98 4 2,53 0 1,50 5 3,85 6 75 8 39 6 55 1 65 1 1,746 Deferred credit items 8,72 9 51 9 87 1 44 5 55 9 66 4 84 1 74 8 26 8 55 6 39 6 38 6 2,475 Other liabilities and accrued dividends (2) 2,42 5 14 7 75 3 11 0 14 0 23 9 20 0 26 0 10 7 8 0 9 7 9 3 199 TOTAL LIABILITIES 666,53 4 30,37 6 293,37 0 20,53 9 29,85 9 49,95 1 44,85 7 66,82 4 20,68 4 14,70 4 17,48 7 25,84 4 52,038 CAPITAL ACCOUNTS Capital paid in 8,25 3 43 2 1,76 9 23 7 69 2 2,06 7 47 3 83 6 20 2 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 1,02 8 1 9 39 4 2 2 1 8 26 2 4 5 9 6 2 11 8 1 0 1 9 42 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 683,12 7 31,24 6 297,03 6 21,02 0 31,23 4 54,03 7 45,86 9 68,51 3 21,09 6 15,26 6 17,88 8 26,20 9 53,713 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 748,07 1 34,23 5 315,30 9 26,34 3 32,62 7 55,86 3 58,38 4 68,48 4 22,97 3 15,50 9 20,60 4 33,80 2 63,937 Less—Held by F.R. Banks 117,11 0 5,26 0 33,10 9 7,52 0 4,45 1 9,34 4 16,07 4 6,52 4 3,42 2 1,83 7 4,16 1 9,08 9 16,320 F.R. notes, net 630,96 1 28,97 6 282,20 0 18,82 4 28,17 6 46,51 9 42,31 1 61,96 0 19,55 1 13,67 2 16,44 2 24,71 4 47,618 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) 617,723 Total collateral 630,961 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.