H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE These data are scheduled for release each Thursday. H.4.1 September 19, 2002 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 18, 2002 Sep 11, 2002 Sep 19, 2001 Sep 18, 2002 Reserve Bank Credit 657,922 - 288 - 13,692 660,988 U.S. government securities (1) Bought outright-system account (2,3) 605,114 + 1,022 + 81,755 606,272 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) 15,500 - 1,357 - 59,796 16,750 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 7 + 6 - 1,495 0 Seasonal credit 162 - 2 + 67 167 Extended credit 0 0 0 0 Float -750 - 120 - 28,002 -360 Other F.R. assets 37,880 + 163 - 6,221 38,148 Gold stock 11,042 0 - 1 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 34,093 + 14 + 1,136 34,093 Total factors supplying reserve funds 705,258 - 274 - 12,556 708,324 Currency in circulation* 660,965 - 2,411 + 45,646 661,421 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 364 + 3 - 62 370 Deposits, other than reserve balances, with F.R. Banks Treasury 5,773 + 764 - 518 7,175 Foreign 106 - 24 - 51 139 Service-related balances and adjustments (5) 10,117 - 61 + 2,410 10,117 Other 218 - 5 - 164 215 Other F.R. liabilities and capital 19,174 - 263 - 1,486 19,260 Total factors, other than reserve balances, absorbing reserve funds 696,716 - 1,998 + 45,774 698,697 Reserve balances with F.R. Banks (6) 8,541 + 1,724 - 58,332 9,627 On September 18, 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 $ 808,725 million, a change of $ - 230 million for the week. The total includes $ 653,134 million of U.S. government securities and $ 155,591 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 $ 21,992 million (daily average over statement week) and $ 21,936 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 21,992 million (daily average) and $ 21,936 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 395 million (daily average) and $ 135 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 $ 1,167 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 $ 9,941 million and adjustments of $ 176 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 18, 2002 Sep 11, 2002 Sep 19, 2001 ASSETS Gold certificate account 11,038 0 - 5 Special drawing rights certificate account 2,200 0 0 Coin 1,052 + 24 - 50 Loans 168 + 6 - 2,505 Acceptances 0 0 0 Repurchase agreements — triparty (1) 16,750 - 1,250 - 22,850 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright—Bills 204,297 + 411 + 36,715 Notes (3) 295,879 + 1,236 + 38,843 Bonds (4) 106,097 + 106 + 4,092 Total bought outright (5) 606,272 + 1,752 + 79,648 Held under repurchase agreements 0 0 0 Total U.S. government securities 606,272 + 1,752 + 79,648 Total loans and securities 623,200 + 508 + 54,293 Items in process of collection (1,236) 7,351 + 93 - 5,082 Bank premises 1,523 + 3 + 13 Other assets (6) 36,676 + 472 + 681 TOTAL ASSETS (1,236) 683,040 + 1,100 + 49,850 LIABILITIES Federal Reserve notes 628,745 - 2,216 + 44,735 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 20,049 + 437 + 4,908 U.S. Treasury—general account 7,175 + 2,659 + 1,762 Foreign—official accounts 139 + 64 - 119 Other (0) 215 0 - 73 Total deposits (0) 27,578 + 3,159 + 6,477 Deferred availability cash items (1,236) 7,456 - 85 - 552 Other liabilities and accrued dividends (7) 2,392 - 33 - 2,183 TOTAL LIABILITIES (1,236) 666,172 + 825 + 48,478 CAPITAL ACCOUNTS Capital paid in 8,252 - 1 + 1,050 Surplus 7,312 0 + 548 Other capital accounts 1,304 + 276 - 226 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 $ 653 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 $ 513 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 21,936 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 135 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 18, 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 157 26,020 + 7,849 0 0 13,750 0 16 days to 90 days 11 123,579 - 5,940 0 0 3,000 0 91 days to 1 year 0 147,865 - 211 0 0 ——— ——— Over 1 year to 5 years ——— 175,654 0 10 0 ——— ——— Over 5 years to 10 years ——— 51,436 + 53 0 0 ——— ——— Over 10 years ——— 81,718 + 1 0 0 ——— ——— Total 168 606,272 + 1,752 10 0 16,750 0 1 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,167 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 18, 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 1,05 2 4 3 4 9 4 9 5 6 14 0 13 7 13 6 6 1 3 5 7 0 15 1 126 Loans 16 8 0 0 0 0 0 8 2 8 3 0 6 7 2 0 1 0 5 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 16,75 0 0 16,75 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 204,29 7 11,70 5 80,38 3 7,85 6 11,27 2 15,93 4 14,54 7 24,04 2 7,26 4 3,19 4 6,03 9 4,53 4 17,528 Notes (3) 295,87 9 16,95 2 116,41 7 11,37 7 16,32 5 23,07 6 21,06 8 34,81 9 10,52 1 4,62 5 8,74 6 6,56 7 25,385 Bonds (4) 106,09 7 6,07 9 41,74 5 4,08 0 5,85 4 8,27 5 7,55 5 12,48 5 3,77 3 1,65 9 3,13 6 2,35 5 9,103 Total bought outright (5) 606,27 2 34,73 6 238,54 4 23,31 3 33,45 1 47,28 5 43,16 9 71,34 6 21,55 8 9,47 8 17,92 1 13,45 5 52,016 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 606,27 2 34,73 6 238,54 4 23,31 3 33,45 1 47,28 5 43,16 9 71,34 6 21,55 8 9,47 8 17,92 1 13,45 5 52,016 Total loans and securities 623,20 0 34,73 7 255,29 8 23,31 3 33,45 2 47,28 6 43,17 8 71,37 6 21,58 8 9,54 5 17,94 2 13,46 5 52,021 Items in process of collection 8,58 7 46 2 90 4 44 7 40 9 54 9 81 7 62 3 39 4 48 6 46 5 38 5 2,648 Bank premises 1,52 3 9 1 18 3 4 9 15 3 13 0 27 9 11 2 4 3 12 5 4 9 13 8 172 Other assets (6) 36,67 6 1,90 6 12,82 5 1,23 3 2,45 7 5,36 6 2,45 0 3,76 0 96 0 62 1 95 6 80 1 3,341 Interdistrict settlement account 0 - 5,27 4 +24,79 9 - 5,18 7 - 4,87 9 - 36 6 - 2,61 1 -11,35 5 - 2,78 0 + 4,21 0 - 2,02 9 +10,77 8 - 5,304 TOTAL ASSETS 684,27 6 32,61 3 299,29 5 20,41 7 32,27 2 54,06 9 45,34 1 65,94 3 20,68 2 15,23 0 17,82 7 26,30 2 54,284 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 $ 653 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 $ 513 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 21,936 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 135 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 18, 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 628,74 5 28,54 0 282,43 6 18,75 5 28,25 2 46,36 2 41,81 7 60,86 6 19,37 4 13,59 6 16,23 6 24,76 3 47,748 Reverse repurchase agreements—triparty (1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 20,04 9 2,48 3 4,20 2 58 1 2,01 9 2,58 4 1,48 4 2,42 0 50 6 37 0 69 7 66 9 2,034 U.S. Treasury—general account 7,17 5 0 7,17 5 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 13 9 2 11 5 1 3 7 2 3 1 1 1 1 3 Other 21 5 8 10 7 0 2 3 8 0 1 3 5 1 1 1 1 Total deposits 27,57 8 2,49 3 11,60 0 58 2 2,02 4 2,63 0 1,48 7 2,42 4 51 0 42 2 69 9 67 0 2,037 Deferred credit items 8,69 2 54 6 79 6 48 0 46 0 72 1 80 2 67 1 27 4 56 4 38 5 40 2 2,592 Other liabilities and accrued dividends (2) 2,39 2 14 4 74 1 10 8 13 7 23 7 19 9 25 5 10 5 8 1 9 5 9 2 196 TOTAL LIABILITIES 667,40 8 31,72 4 295,57 4 19,92 4 30,87 2 49,94 9 44,30 6 64,21 7 20,26 3 14,66 3 17,41 5 25,92 8 52,573 CAPITAL ACCOUNTS Capital paid in 8,25 2 43 2 1,76 9 23 8 69 2 2,06 7 47 3 83 7 19 9 32 6 19 9 18 3 838 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 1,30 4 3 9 44 9 3 4 4 3 29 6 2 8 9 7 7 1 12 3 2 1 2 7 78 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 684,27 6 32,61 3 299,29 5 20,41 7 32,27 2 54,06 9 45,34 1 65,94 3 20,68 2 15,23 0 17,82 7 26,30 2 54,284 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 749,62 0 33,99 2 316,58 0 26,46 0 32,73 6 56,05 1 58,63 2 67,87 3 22,87 5 15,47 0 20,56 8 34,09 9 64,285 Less—Held by F.R. Banks 120,87 5 5,45 2 34,14 4 7,70 5 4,48 4 9,68 9 16,81 5 7,00 6 3,50 1 1,87 3 4,33 1 9,33 6 16,538 F.R. notes, net 628,74 5 28,54 0 282,43 6 18,75 5 28,25 2 46,36 2 41,81 7 60,86 6 19,37 4 13,59 6 16,23 6 24,76 3 47,748 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) 615,508 Total collateral 628,745 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.