H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE These data are scheduled for release each Thursday. H.4.1 November 14, 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 Nov 13, 2002 Nov 6, 2002 Nov 14, 2001 Nov 13, 2002 Reserve Bank Credit 666,333 + 5,784 + 50,333 673,919 U.S. government securities (1) Bought outright-system account (2,3) 608,480 - 172 + 62,443 608,984 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) 16,821 + 4,785 - 14,183 21,000 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 242 - 113 + 152 2 Seasonal credit 66 - 1 + 35 65 Extended credit 0 0 0 0 Float 634 + 612 + 563 3,610 Other F.R. assets 40,080 + 673 + 1,323 40,248 Gold stock 11,042 0 - 3 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 34,387 + 14 + 1,413 34,387 Total factors supplying reserve funds 713,963 + 5,798 + 51,744 721,548 Currency in circulation* 668,060 + 4,123 + 46,813 669,425 Reverse repurchase agreements — triparty (4) 0 0 0 0 Treasury cash holdings* 386 - 9 - 52 387 Deposits, other than reserve balances, with F.R. Banks Treasury 5,013 - 325 + 323 4,592 Foreign 77 - 39 - 72 76 Service-related balances and adjustments (5) 10,327 - 97 + 2,539 10,327 Other 236 - 9 - 20 238 Other F.R. liabilities and capital 20,012 + 157 + 2,045 19,693 Total factors, other than reserve balances, absorbing reserve funds 704,112 + 3,801 + 51,577 704,739 Reserve balances with F.R. Banks (6) 9,851 + 1,998 + 167 16,810 On November 13, 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 $ 809,887 million, a change of $ + 2,292 million for the week. The total includes $ 659,453 million of U.S. government securities and $ 150,434 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 $ 19,985 million (daily average over statement week) and $ 19,484 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 19,985 million (daily average) and $ 19,484 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 828 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 $ 1,227 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 $ 10,057 million and adjustments of $ 270 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 Nov 13, 2002 Nov 6, 2002 Nov 14, 2001 ASSETS Gold certificate account 11,038 0 - 7 Special drawing rights certificate account 2,200 0 0 Coin 1,080 + 1 - 27 Loans 67 - 2 + 37 Acceptances 0 0 0 Repurchase agreements — triparty (1) 21,000 + 11,000 - 16,755 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright—Bills 206,949 + 210 + 23,443 Notes (3) 295,914 + 3 + 35,374 Bonds (4) 106,122 + 2 + 2,868 Total bought outright (5) 608,984 + 214 + 61,684 Held under repurchase agreements 0 0 0 Total U.S. government securities 608,984 + 214 + 61,684 Total loans and securities 630,061 + 11,213 + 44,966 Items in process of collection (1,517) 15,581 + 6,296 + 910 Bank premises 1,530 + 1 + 12 Other assets (6) 38,736 + 619 + 1,104 TOTAL ASSETS (1,517) 700,227 + 18,130 + 46,959 LIABILITIES Federal Reserve notes 636,501 + 3,186 + 44,982 Reverse repurchase agreements — triparty (1) 0 0 0 Deposits Depository institutions 27,245 + 11,576 + 420 U.S. Treasury—general account 4,592 - 215 - 755 Foreign—official accounts 76 + 4 - 395 Other (0) 238 - 5 - 24 Total deposits (0) 32,151 + 11,360 - 753 Deferred availability cash items (1,517) 11,882 + 3,462 + 641 Other liabilities and accrued dividends (7) 2,469 + 30 - 275 TOTAL LIABILITIES (1,517) 683,003 + 18,038 + 44,594 CAPITAL ACCOUNTS Capital paid in 8,285 + 5 + 1,008 Surplus 7,312 0 + 577 Other capital accounts 1,627 + 87 + 779 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 $ 688 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 $ 538 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 19,484 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, November 13, 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 26 14,823 - 5,066 0 0 16,000 0 16 days to 90 days 41 141,857 + 5,724 0 0 5,000 0 91 days to 1 year 0 143,437 + 74 0 0 ——— ——— Over 1 year to 5 years ——— 176,183 0 10 0 ——— ——— Over 5 years to 10 years ——— 50,940 - 521 0 0 ——— ——— Over 10 years ——— 81,743 + 2 0 0 ——— ——— Total 67 608,984 + 214 10 0 21,000 0 1 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,227 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 November 13, 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 1,08 0 5 0 5 0 6 0 5 0 14 2 12 6 13 8 6 3 3 5 7 2 16 3 130 Loans 6 7 0 0 0 0 0 7 1 1 1 6 1 6 1 1 6 1 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements — triparty (1) 21,00 0 0 21,00 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 206,94 9 11,85 7 81,42 6 7,95 8 11,41 8 16,14 1 14,73 6 24,35 4 7,35 9 3,23 5 6,11 7 4,59 3 17,755 Notes (3) 295,91 4 16,95 4 116,43 0 11,37 9 16,32 7 23,07 9 21,07 0 34,82 3 10,52 2 4,62 6 8,74 7 6,56 7 25,388 Bonds (4) 106,12 2 6,08 0 41,75 5 4,08 1 5,85 5 8,27 7 7,55 6 12,48 8 3,77 3 1,65 9 3,13 7 2,35 5 9,105 Total bought outright (5) 608,98 4 34,89 2 239,61 2 23,41 7 33,60 1 47,49 6 43,36 2 71,66 5 21,65 4 9,52 0 18,00 2 13,51 5 52,248 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 608,98 4 34,89 2 239,61 2 23,41 7 33,60 1 47,49 6 43,36 2 71,66 5 21,65 4 9,52 0 18,00 2 13,51 5 52,248 Total loans and securities 630,06 1 34,89 2 260,61 5 23,41 8 33,60 1 47,49 7 43,36 9 71,67 7 21,67 1 9,53 6 18,01 3 13,52 2 52,250 Items in process of collection 17,09 8 1,09 0 1,45 8 89 9 78 9 1,57 8 1,82 1 1,71 4 74 7 95 5 96 1 89 4 4,192 Bank premises 1,53 0 9 1 18 4 4 9 15 3 12 9 27 9 11 6 4 3 12 5 4 9 13 9 173 Other assets (6) 38,73 6 2,03 3 13,64 1 1,24 6 2,59 3 5,59 5 2,60 8 4,00 7 1,03 4 66 0 1,02 0 85 1 3,449 Interdistrict settlement account 0 - 4,68 1 +32,27 6 - 5,85 3 - 5,14 0 - 2,11 8 - 4,88 8 -14,90 1 - 3,04 6 + 4,18 7 - 2,50 0 +10,49 9 - 3,834 TOTAL ASSETS 701,74 4 34,12 3 313,46 2 20,33 1 32,67 1 53,78 9 44,40 8 64,04 3 20,92 8 15,70 7 17,99 1 26,65 1 57,640 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 $ 688 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 $ 538 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 19,484 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 November 13, 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 636,50 1 28,52 0 295,02 8 17,91 7 27,95 3 45,57 8 40,11 4 58,14 4 19,10 1 13,66 3 15,82 3 24,64 4 50,015 Reverse repurchase agreements—triparty (1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 27,24 5 3,61 8 7,88 2 1,09 6 1,98 1 2,69 9 1,88 8 2,90 5 88 2 49 4 1,02 0 85 3 1,927 U.S. Treasury—general account 4,59 2 0 4,59 2 0 0 0 0 0 0 0 0 0 0 Foreign—official accounts 7 6 2 5 2 1 3 7 2 3 1 1 1 1 3 Other 23 8 5 14 4 0 1 7 9 1 4 3 0 1 0 0 Total deposits 32,15 1 3,62 5 12,67 0 1,09 7 1,98 5 2,78 5 1,89 0 2,91 2 88 5 49 5 1,02 2 85 4 1,931 Deferred credit items 13,39 9 92 6 1,23 8 70 9 1,16 1 94 6 1,15 4 95 7 41 8 84 8 63 1 67 9 3,733 Other liabilities and accrued dividends (2) 2,46 9 14 8 75 5 11 0 14 4 26 1 20 1 26 3 10 7 8 3 9 7 9 4 208 TOTAL LIABILITIES 684,52 1 33,21 9 309,69 1 19,83 3 31,24 3 49,57 0 43,35 9 62,27 5 20,51 1 15,08 8 17,57 3 26,27 1 55,887 CAPITAL ACCOUNTS Capital paid in 8,28 5 43 4 1,77 3 23 8 69 2 2,06 9 47 1 84 7 19 9 32 9 20 0 18 3 849 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 1,62 7 5 2 49 4 3 9 7 1 39 2 4 3 12 8 6 9 17 2 2 7 3 3 108 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 701,74 4 34,12 3 313,46 2 20,33 1 32,67 1 53,78 9 44,40 8 64,04 3 20,92 8 15,70 7 17,99 1 26,65 1 57,640 FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 755,06 3 33,72 7 325,88 3 25,93 2 32,74 3 55,39 4 57,26 4 66,61 3 22,48 6 15,32 3 20,28 7 34,32 4 65,087 Less—Held by F.R. Banks 118,56 2 5,20 7 30,85 5 8,01 5 4,79 0 9,81 7 17,15 0 8,46 9 3,38 5 1,66 1 4,46 3 9,68 0 15,072 F.R. notes, net 636,50 1 28,52 0 295,02 8 17,91 7 27,95 3 45,57 8 40,11 4 58,14 4 19,10 1 13,66 3 15,82 3 24,64 4 50,015 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) 623,262 Total collateral 636,501 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.