H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE These data are scheduled for release each Thursday. H.4.1 September 26, 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 25, 2002 Sep 18, 2002 Sep 26, 2001 Sep 25, 2002 Reserve Bank Credit 655,957 - 1,960 + 44,703 660,224 U.S. government securities (1) Bought outright-system account (2,3) 605,242 + 128 + 74,244 606,248 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) 12,214 - 3,286 - 27,119 15,500 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 1 - 6 - 1,064 2 Seasonal credit 168 + 6 + 101 174 Extended credit 0 0 0 0 Float 75 + 830 - 1,925 -158 Other F.R. assets 38,247 + 367 + 467 38,449 Gold stock 11,042 0 - 1 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 34,107 + 14 + 1,150 34,107 Total factors supplying reserve funds 703,307 - 1,945 + 45,852 707,574 Currency in circulation* 659,523 - 1,442 + 46,602 660,569 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 372 + 8 - 57 380 Deposits, other than reserve balances, with F.R. Banks Treasury 6,832 + 1,059 - 1,630 7,209 Foreign 80 - 26 - 525 75 Service-related balances and adjustments (5) 10,245 + 128 + 2,106 10,245 Other 234 + 16 - 64 232 Other F.R. liabilities and capital 19,423 + 249 + 636 19,276 Total factors, other than reserve balances, absorbing reserve funds 696,709 - 7 + 47,067 697,987 Reserve balances with F.R. Banks (6) 6,598 - 1,938 - 1,215 9,586 On September 25, 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 $ 804,435 million, a change of $ - 4,290 million for the week. The total includes $ 650,160 million of U.S. government securities and $ 154,275 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 $ 23,138 million (daily average over statement week) and $ 22,164 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 22,388 million (daily average) and $ 22,164 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 468 million (daily average) and $ 2,877 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 $ 1,170 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 $ 9,939 million and adjustments of $ 306 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 25, 2002 Sep 18, 2002 Sep 26, 2001 ASSETS Gold certificate account 11,038 0 - 5 Special drawing rights certificate account 2,200 0 0 Coin 1,066 + 14 - 50 Loans 175 + 7 + 80 Acceptances 0 0 0 Repurchase agreements — triparty (1) 15,500 - 1,250 - 35,790 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright—Bills 204,269 - 28 + 36,487 Notes (3) 295,881 + 2 + 38,849 Bonds (4) 106,098 + 1 + 4,095 Total bought outright (5) 606,248 - 24 + 79,431 Held under repurchase agreements 0 0 0 Total U.S. government securities 606,248 - 24 + 79,431 Total loans and securities 621,933 - 1,267 + 43,721 Items in process of collection (1,240) 6,858 - 493 - 1,035 Bank premises 1,522 - 1 + 12 Other assets (6) 36,962 + 286 + 618 TOTAL ASSETS (1,240) 681,578 - 1,462 + 43,260 LIABILITIES Federal Reserve notes 627,903 - 842 + 45,774 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 19,955 - 94 - 572 U.S. Treasury—general account 7,209 + 34 - 2,459 Foreign—official accounts 75 - 64 - 560 Other (0) 232 + 17 - 5 Total deposits (0) 27,471 - 107 - 3,596 Deferred availability cash items (1,240) 6,927 - 529 - 436 Other liabilities and accrued dividends (7) 2,432 + 40 - 512 TOTAL LIABILITIES (1,240) 664,735 - 1,437 + 41,233 CAPITAL ACCOUNTS Capital paid in 8,254 + 2 + 1,046 Surplus 7,312 0 + 552 Other capital accounts 1,278 - 26 + 430 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 $ 655 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 $ 515 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 22,164 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 2,877 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 25, 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 152 24,435 - 1,585 0 0 13,500 0 16 days to 90 days 24 125,775 + 2,196 0 0 2,000 0 91 days to 1 year 0 147,227 - 638 0 0 ——— ——— Over 1 year to 5 years ——— 175,654 0 10 0 ——— ——— Over 5 years to 10 years ——— 51,437 + 1 0 0 ——— ——— Over 10 years ——— 81,720 + 2 0 0 ——— ——— Total 175 606,248 - 24 10 0 15,500 0 1 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,170 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 25, 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 1,06 6 4 3 5 1 5 0 5 6 14 1 13 9 13 4 6 2 3 4 7 1 15 5 128 Loans 17 5 0 0 0 0 0 8 3 1 2 9 6 5 2 1 1 2 9 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 15,50 0 0 15,50 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 204,26 9 11,70 4 80,37 2 7,85 5 11,27 1 15,93 1 14,54 5 24,03 8 7,26 3 3,19 3 6,03 8 4,53 3 17,525 Notes (3) 295,88 1 16,95 2 116,41 7 11,37 7 16,32 5 23,07 7 21,06 8 34,81 9 10,52 1 4,62 5 8,74 6 6,56 7 25,385 Bonds (4) 106,09 8 6,07 9 41,74 5 4,08 0 5,85 4 8,27 5 7,55 5 12,48 6 3,77 3 1,65 9 3,13 6 2,35 5 9,103 Total bought outright (5) 606,24 8 34,73 5 238,53 5 23,31 2 33,45 0 47,28 3 43,16 7 71,34 3 21,55 7 9,47 7 17,92 1 13,45 5 52,014 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 606,24 8 34,73 5 238,53 5 23,31 2 33,45 0 47,28 3 43,16 7 71,34 3 21,55 7 9,47 7 17,92 1 13,45 5 52,014 Total loans and securities 621,93 3 34,73 5 254,03 9 23,31 2 33,45 0 47,28 4 43,17 6 71,37 6 21,58 6 9,54 2 17,94 2 13,46 7 52,023 Items in process of collection 8,09 8 41 9 74 7 40 0 19 7 51 8 76 4 54 5 36 6 56 8 50 5 47 0 2,597 Bank premises 1,52 2 9 1 18 1 4 9 15 3 13 0 27 9 11 2 4 3 12 5 4 9 13 8 172 Other assets (6) 36,96 2 1,92 8 12,98 6 1,24 5 2,47 2 5,38 4 2,47 6 3,80 7 97 4 62 7 96 7 81 0 3,288 Interdistrict settlement account 0 - 6,94 9 +28,19 4 - 5,10 6 - 4,69 7 - 78 3 - 3,02 4 -11,27 6 - 2,77 4 + 4,14 3 - 2,34 2 +10,60 5 - 5,991 TOTAL ASSETS 682,81 9 30,91 6 301,43 5 20,46 3 32,25 7 53,64 1 44,90 3 65,98 9 20,67 5 15,24 8 17,56 7 26,22 8 53,497 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 $ 655 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 $ 515 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 22,164 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 2,877 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 25, 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 627,90 3 28,41 9 283,53 3 18,52 2 28,08 0 46,21 5 41,59 3 60,57 6 19,27 5 13,65 3 15,98 3 24,53 0 47,523 Reverse repurchase agreements—triparty (1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 19,95 5 94 8 5,28 7 85 7 2,31 1 2,32 3 1,29 7 2,76 2 63 7 38 1 61 0 84 8 1,695 U.S. Treasury—general account 7,20 9 0 7,20 9 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 7 5 2 5 2 1 3 7 2 3 1 1 1 1 3 Other 23 2 6 13 7 0 2 8 1 1 1 2 0 1 0 0 Total deposits 27,47 1 95 6 12,68 5 85 8 2,31 5 2,41 0 1,30 0 2,76 5 64 0 38 2 61 2 84 9 1,698 Deferred credit items 8,16 8 50 9 75 4 48 4 32 3 62 4 77 4 67 1 24 3 56 1 46 8 38 4 2,372 Other liabilities and accrued dividends (2) 2,43 2 14 9 74 5 10 9 13 8 25 5 20 3 25 9 10 7 7 9 9 7 9 3 199 TOTAL LIABILITIES 665,97 5 30,03 4 297,71 6 19,97 3 30,85 7 49,50 4 43,87 1 64,27 1 20,26 5 14,67 5 17,16 0 25,85 6 51,792 CAPITAL ACCOUNTS Capital paid in 8,25 4 43 2 1,76 9 23 8 69 2 2,06 7 47 3 83 7 19 9 32 7 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 1,27 8 3 2 44 5 3 1 4 3 31 2 2 4 8 8 6 2 12 7 1 7 2 6 71 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 682,81 9 30,91 6 301,43 5 20,46 3 32,25 7 53,64 1 44,90 3 65,98 9 20,67 5 15,24 8 17,56 7 26,22 8 53,497 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 751,04 7 34,06 2 318,76 7 26,31 6 32,70 2 56,07 8 58,34 7 67,79 2 22,83 8 15,44 8 20,51 0 33,99 6 64,190 Less—Held by F.R. Banks 123,14 3 5,64 3 35,23 5 7,79 4 4,62 2 9,86 3 16,75 3 7,21 6 3,56 3 1,79 5 4,52 7 9,46 6 16,667 F.R. notes, net 627,90 3 28,41 9 283,53 3 18,52 2 28,08 0 46,21 5 41,59 3 60,57 6 19,27 5 13,65 3 15,98 3 24,53 0 47,523 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) 614,666 Total collateral 627,903 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.