H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE These data are scheduled for release each Thursday. H.4.1 October 24, 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 Oct 23, 2002 Oct 16, 2002 Oct 24, 2001 Oct 23, 2002 Reserve Bank Credit 657,667 - 4,001 + 51,050 657,121 U.S. government securities (1) Bought outright-system account (2,3) 610,273 + 640 + 66,696 610,231 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) 8,143 - 4,393 - 19,262 7,500 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 4 - 1 - 6 4 Seasonal credit 116 - 8 + 52 103 Extended credit 0 0 0 0 Float 376 - 287 + 414 231 Other F.R. assets 38,746 + 48 + 3,157 39,042 Gold stock 11,042 0 - 3 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 34,163 + 14 + 1,196 34,163 Total factors supplying reserve funds 705,073 - 3,987 + 52,244 704,527 Currency in circulation* 662,661 - 1,557 + 47,942 663,110 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 399 + 15 - 52 400 Deposits, other than reserve balances, with F.R. Banks Treasury 5,064 + 737 - 257 5,713 Foreign 341 + 264 - 238 128 Service-related balances and adjustments (5) 10,297 - 1 + 2,240 10,297 Other 212 - 4 - 50 205 Other F.R. liabilities and capital 19,391 - 144 + 1,547 19,372 Total factors, other than reserve balances, absorbing reserve funds 698,365 - 689 + 51,131 699,226 Reserve balances with F.R. Banks (6) 6,708 - 3,298 + 1,113 5,301 On October 23, 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 $ 803,483 million, a change of $ - 3,195 million for the week. The total includes $ 652,109 million of U.S. government securities and $ 151,375 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 $ 18,168 million (daily average over statement week) and $ 18,215 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 18,168 million (daily average) and $ 18,215 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,180 million (daily average) and $ 1,368 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 $ 1,205 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 $ 9,970 million and adjustments of $ 327 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 Oct 23, 2002 Oct 16, 2002 Oct 24, 2001 ASSETS Gold certificate account 11,038 0 - 7 Special drawing rights certificate account 2,200 0 0 Coin 1,074 + 15 - 39 Loans 107 - 52 + 5 Acceptances 0 0 0 Repurchase agreements — triparty (1) 7,500 - 6,250 - 22,550 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright—Bills 208,217 - 140 + 25,184 Notes (3) 295,901 + 6 + 37,512 Bonds (4) 106,113 + 5 + 3,345 Total bought outright (5) 610,231 - 129 + 66,041 Held under repurchase agreements 0 0 0 Total U.S. government securities 610,231 - 129 + 66,041 Total loans and securities 617,848 - 6,432 + 43,496 Items in process of collection (1,092) 7,839 - 8,256 + 130 Bank premises 1,528 + 2 + 14 Other assets (6) 37,513 + 375 + 753 TOTAL ASSETS (1,092) 679,040 - 14,295 + 44,346 LIABILITIES Federal Reserve notes 630,417 - 1,716 + 46,484 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 15,927 - 9,543 - 5,201 U.S. Treasury—general account 5,713 + 1,121 + 1,416 Foreign—official accounts 128 + 53 - 154 Other (-2) 205 - 10 - 46 Total deposits (-2) 21,973 - 8,380 - 3,985 Deferred availability cash items (1,094) 7,278 - 4,289 + 73 Other liabilities and accrued dividends (7) 2,424 + 31 - 403 TOTAL LIABILITIES (1,092) 662,092 - 14,353 + 42,169 CAPITAL ACCOUNTS Capital paid in 8,275 + 5 + 1,000 Surplus 7,312 0 + 577 Other capital accounts 1,362 + 53 + 602 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 $ 676 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 $ 529 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,215 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,368 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, October 23, 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 103 25,974 + 983 0 0 5,500 0 16 days to 90 days 4 129,987 - 402 0 0 2,000 0 91 days to 1 year 0 144,194 - 721 0 0 ——— ——— Over 1 year to 5 years ——— 176,889 + 2 10 0 ——— ——— Over 5 years to 10 years ——— 51,453 + 5 0 0 ——— ——— Over 10 years ——— 81,734 + 4 0 0 ——— ——— Total 107 610,231 - 129 10 0 7,500 0 1 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,205 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 October 23, 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 1,07 4 4 8 5 3 5 3 5 2 14 2 13 3 13 6 6 5 3 5 6 9 15 8 130 Loans 10 7 0 0 4 0 0 8 1 2 2 0 3 2 2 0 9 3 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 7,50 0 0 7,50 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 208,21 7 11,93 0 81,92 5 8,00 7 11,48 8 16,23 9 14,82 6 24,50 3 7,40 4 3,25 5 6,15 5 4,62 1 17,864 Notes (3) 295,90 1 16,95 4 116,42 5 11,37 8 16,32 6 23,07 8 21,06 9 34,82 2 10,52 2 4,62 6 8,74 7 6,56 7 25,387 Bonds (4) 106,11 3 6,08 0 41,75 1 4,08 0 5,85 5 8,27 6 7,55 6 12,48 7 3,77 3 1,65 9 3,13 7 2,35 5 9,104 Total bought outright (5) 610,23 1 34,96 3 240,10 2 23,46 5 33,66 9 47,59 4 43,45 1 71,81 2 21,69 8 9,53 9 18,03 8 13,54 3 52,355 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 610,23 1 34,96 3 240,10 2 23,46 5 33,66 9 47,59 4 43,45 1 71,81 2 21,69 8 9,53 9 18,03 8 13,54 3 52,355 Total loans and securities 617,84 8 34,96 4 247,60 6 23,46 9 33,67 0 47,59 4 43,46 0 71,82 5 21,71 9 9,57 2 18,05 8 13,55 2 52,359 Items in process of collection 8,93 1 46 1 79 6 43 9 37 2 63 6 67 5 66 8 36 9 91 2 50 7 33 4 2,763 Bank premises 1,52 8 9 1 18 3 4 9 15 3 13 0 27 9 11 5 4 3 12 5 4 9 13 9 172 Other assets (6) 37,51 3 1,96 6 13,23 8 1,20 5 2,50 4 5,42 5 2,52 0 3,87 2 99 9 63 8 98 5 82 3 3,338 Interdistrict settlement account 0 - 7,16 7 +36,26 7 - 6,24 8 - 6,63 8 - 1,40 8 - 3,69 3 -13,83 0 - 3,03 7 + 3,70 5 - 2,91 3 +10,03 3 - 5,071 TOTAL ASSETS 680,13 2 31,01 1 303,37 9 19,48 0 30,73 8 53,48 5 44,46 6 64,07 7 20,57 6 15,19 7 17,13 1 25,62 1 54,972 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 $ 676 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 $ 529 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,215 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,368 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 October 23, 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 630,41 7 28,46 4 288,72 1 17,69 8 27,83 5 45,86 0 41,16 1 59,12 5 19,21 7 13,56 0 15,67 4 24,09 2 49,009 Reverse repurchase agreements—triparty (1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 15,92 7 94 5 3,39 5 70 0 1,01 0 2,53 4 1,22 6 2,21 6 54 8 42 9 58 4 63 2 1,708 U.S. Treasury—general account 5,71 3 0 5,71 3 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 12 8 2 10 4 1 3 7 2 3 1 1 1 1 3 Other 20 3 6 13 4 0 1 5 4 1 4 3 - 2 1 1 1 Total deposits 21,97 1 95 2 9,34 7 70 1 1,01 4 2,59 5 1,22 9 2,22 3 55 1 42 8 58 6 63 4 1,712 Deferred credit items 8,37 2 55 9 84 9 48 4 34 4 62 1 83 7 73 0 28 7 53 5 36 3 42 7 2,336 Other liabilities and accrued dividends (2) 2,42 4 15 0 74 9 10 8 14 0 24 7 19 8 25 6 10 6 8 1 9 6 9 5 198 TOTAL LIABILITIES 663,18 4 30,12 5 299,66 7 18,99 0 29,33 3 49,32 2 43,42 5 62,33 4 20,16 1 14,60 4 16,72 0 25,24 8 53,255 CAPITAL ACCOUNTS Capital paid in 8,27 5 43 2 1,76 9 23 7 69 2 2,06 9 47 8 84 7 19 9 32 8 20 0 18 3 841 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 1,36 2 3 6 43 9 3 1 4 7 33 6 2 8 10 3 6 6 14 7 2 1 2 7 79 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 680,13 2 31,01 1 303,37 9 19,48 0 30,73 8 53,48 5 44,46 6 64,07 7 20,57 6 15,19 7 17,13 1 25,62 1 54,972 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 750,81 1 33,82 6 321,00 6 26,23 4 32,54 3 55,58 3 57,80 1 66,87 2 22,61 3 15,34 1 20,37 8 33,95 1 64,662 Less—Held by F.R. Banks 120,39 4 5,36 2 32,28 5 8,53 6 4,70 8 9,72 3 16,64 0 7,74 8 3,39 6 1,78 0 4,70 4 9,85 9 15,653 F.R. notes, net 630,41 7 28,46 4 288,72 1 17,69 8 27,83 5 45,86 0 41,16 1 59,12 5 19,21 7 13,56 0 15,67 4 24,09 2 49,009 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) 617,179 Total collateral 630,417 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.