H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 30, 2003 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions Week ended Change from week ended Wednesday at Federal Reserve Banks Jan 29, 2003 Jan 22, 2003 Jan 30, 2002 Jan 29, 2003 Reserve Bank credit 690,594 - 6,417 + 62,972 692,322 Securities held outright 629,416 0 + 68,365 629,416 U.S. Treasury1 629,406 0 + 68,365 629,406 Bills2 226,682 0 + 38,679 226,682 Notes and bonds, nominal2 389,219 0 + 27,311 389,219 Notes and bonds, inflation-indexed2 12,242 0 + 2,056 12,242 Inflation compensation3 1,263 0 + 318 1,263 Federal agency2 10 0 0 10 Repurchase agreements4 20,143 - 6,893 - 8,321 20,500 Loans to depository institutions 52 + 33 + 23 11 Primary credit 45 + 33 + 45 4 Secondary credit 0 0 0 0 Seasonal credit 7 0 - 12 7 Adjustment credit 0 0 - 11 0 Float 763 - 48 + 792 1,981 Other Federal Reserve assets 40,220 + 492 + 2,114 40,414 Gold stock 11,043 0 - 2 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 34,553 + 14 + 1,173 34,553 Total factors supplying reserve funds 738,390 - 6,402 + 64,143 740,118 Currency in circulation5 674,738 - 1,144 + 44,329 675,689 Reverse repurchase agreements6 18,397 - 170 + 18,397 18,466 Foreign official and international accounts 18,397 - 170 + 18,397 18,466 Dealers 0 0 0 0 Treasury cash holdings 360 - 8 - 62 361 Deposits with F.R. Banks, other than reserve balances 18,034 + 397 - 563 17,881 U.S. Treasury, general account 7,162 + 1,029 - 2,008 7,030 Foreign official 114 + 1 - 149 100 Service-related 10,538 - 628 + 1,611 10,538 Required clearing balances 10,355 - 184 + 1,708 10,355 Adjustments to compensate for float 183 - 444 - 96 183 Other 221 - 4 - 16 214 Other liabilities and capital 19,873 - 43 + 2,372 19,574 Total factors, other than reserve balances, absorbing reserve funds 731,401 - 969 + 64,472 731,971 Reserve balances with Federal Reserve Banks 6,989 - 5,434 - 329 8,147 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 857,827 + 62 . . . 858,621 U.S. Treasury 688,713 - 2,432 . . . 687,352 Federal agency 169,114 + 2,494 . . . 171,269 Securities lent to dealers 357 - 63 - 1,624 362 Note: Components may not sum to totals because of rounding. . . . Not available. 1. Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury securities. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 5. Estimated. 6. Cash value of agreements, which are collateralized by U.S. Treasury securities. 7. Includes U.S. Treasury STRIPS and other zero coupon bonds at face value. Sources: Federal Reserve Banks and the U.S. Department of the Treasury.

H.4.1 2. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Change since Eliminations from Assets, liabilities, and capital consolidation Wednesday Wednesday Wednesday Jan 29, 2003 Jan 22, 2003 Jan 30, 2002 Assets Gold certificate account 11,039 0 - 6 Special drawing rights certificate account 2,200 0 0 Coin 1,111 + 26 - 40 Securities, repurchase agreements, and loans 649,927 - 16,252 + 54,708 Securities held outright 629,416 0 + 66,473 U.S. Treasury1 629,406 0 + 66,473 Bills2 226,682 0 + 36,785 Notes and bonds, nominal2 389,219 0 + 27,311 Notes and bonds, inflation-indexed2 12,242 0 + 2,056 Inflation compensation3 1,263 0 + 320 Federal agency2 10 0 0 Repurchase agreements4 20,500 - 16,250 - 11,750 Loans 11 - 2 - 14 Items in process of collection (1,507) 9,250 - 7,402 - 435 Bank premises 1,543 + 2 + 34 Other assets5 38,747 + 474 + 1,887 Total assets (1,507) 713,818 - 23,151 + 56,149 Liabilities Federal Reserve notes, net of F.R. Bank holdings 642,604 - 677 + 42,968 Reverse repurchase agreements6 18,466 - 57 + 18,466 Deposits (0) 25,671 - 18,427 - 6,923 Depository institutions 18,327 - 19,302 - 265 U.S. Treasury, general account 7,030 + 911 - 6,310 Foreign official 100 - 22 - 334 Other (0) 214 - 14 - 14 Deferred availability cash items (1,507) 7,503 - 4,016 - 509 Other liabilities and accrued dividends7 2,242 + 29 - 80 Total liabilities (1,507) 696,486 - 23,148 + 53,923 Capital accounts Capital paid in 8,399 + 9 + 966 Surplus 8,380 0 + 1,109 Other capital accounts 552 - 13 + 150 Total capital 17,332 - 3 + 2,226 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury securities. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 5. Includes assets denominated in foreign currencies, which are revalued daily at market exchange rates. 6. Cash value of agreements, which are collateralized by U.S. Treasury securities. 7. Includes exchange-translation account reflecting the daily revaluation at market exchange rates of foreign exchange commitments. 3. Maturity Distribution of Loans and Securities, January 29, 2003 Millions of dollars U.S. Treasury Federal agency Reverse securities1 securities Repurchase Maturity Loans repurchase Weekly Weekly agreements2 Holdings Holdings agreements2 changes changes Within 15 days 11 49,592 - 1,026 0 0 16,500 18,466 16 days to 90 days 0 130,709 + 1,033 0 0 4,000 0 91 days to 1 year 0 143,207 - 8 10 0 . . . . . . Over 1 year to 5 years . . . 174,818 0 0 0 . . . . . . Over 5 years to 10 years . . . 51,240 0 0 0 . . . . . . Over 10 years . . . 79,840 0 0 0 . . . . . . All 11 629,406 0 10 0 20,500 18,466 Note: Components may not sum to totals because of rounding. . . . Not applicable. 1. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 2. Cash value of agreements classified by remaining maturity of the agreements.

H.4.1 4. Statement of Condition of Each Federal Reserve Bank on January 29, 2003 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Assets Gold certificate account 11,0 3 9 5 3 3 4,3 6 4 4 3 0 5 2 2 8 1 9 9 2 6 1,0 8 0 3 4 6 1 7 9 3 0 9 4 8 5 1,046 Special drawing rights certificate acct. 2,2 0 0 1 1 5 8 7 4 8 3 1 0 4 1 4 7 1 6 6 2 1 2 7 1 3 0 6 6 9 8 234 Coin 1,1 1 1 5 2 3 9 6 4 5 0 1 6 0 1 2 1 1 4 8 6 4 4 1 7 5 1 7 6 121 Securities, repurchase agreements, and loans 649,9 2 7 36,0 6 2 268,1 5 2 24,2 0 3 34,7 2 8 49,0 9 0 44,8 1 7 74,0 7 2 22,3 8 1 9,8 4 2 18,6 1 0 13,9 6 9 54,001 Securities held outright 629,4 1 6 36,0 6 2 247,6 5 1 24,2 0 3 34,7 2 8 49,0 9 0 44,8 1 7 74,0 7 0 22,3 8 1 9,8 3 9 18,6 0 6 13,9 6 9 54,001 U.S. Treasury1 629,4 0 6 36,0 6 2 247,6 4 7 24,2 0 2 34,7 2 7 49,0 8 9 44,8 1 6 74,0 6 9 22,3 8 0 9,8 3 9 18,6 0 5 13,9 6 9 54,001 Bills2 226,6 8 2 12,9 8 8 89,1 9 1 8,7 1 7 12,5 0 7 17,6 8 0 16,1 4 1 26,6 7 6 8,0 6 0 3,5 4 4 6,7 0 1 5,0 3 1 19,448 Notes and bonds3 402,7 2 4 23,0 7 4 158,4 5 6 15,4 8 6 22,2 2 0 31,4 1 0 28,6 7 6 47,3 9 3 14,3 2 0 6,2 9 6 11,9 0 4 8,9 3 8 34,552 Federal agency2 1 0 1 4 0 1 1 1 1 0 0 0 0 1 Repurchase agreements4 20,5 0 0 0 20,5 0 0 0 0 0 0 0 0 0 0 0 0 Loans 1 1 0 1 0 0 0 0 3 0 2 5 0 0 Items in process of collection 10,7 5 8 5 2 9 8 4 6 5 7 8 7 5 3 9 1 9 1,0 4 8 1,2 2 9 6 6 0 4 5 0 6 2 1 5 0 1 2,625 Bank premises 1,5 4 3 9 2 1 8 6 5 0 1 5 2 1 2 9 2 7 9 1 1 6 4 4 1 2 7 5 0 1 4 2 176 Other assets5 38,7 4 7 2,0 3 9 13,3 5 6 1,2 7 6 2,6 2 7 5,7 8 5 2,6 1 9 4,0 0 8 1,0 2 4 6 6 6 1,0 1 7 8 5 1 3,480 Interdistrict settlement account 0 - 7,9 4 9 +42,7 3 7 - 7,1 8 7 - 6,4 4 0 - 3,4 3 0 - 5,9 9 2 -18,7 1 9 - 4,1 8 2 + 3,8 7 1 - 2,4 5 7 +13,2 7 1 - 3,524 Total assets 715,3 2 5 31,4 7 3 330,5 5 4 19,4 9 6 32,4 9 5 53,6 1 9 43,9 8 4 62,1 4 5 20,4 0 9 15,2 0 6 18,2 9 2 29,4 9 3 58,159 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury securities. 2. Face value of the securities. 3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 4. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 5. Includes assets denominated in foreign currencies, which are revalued daily at market exchange rates.

H.4.1 4. Statement of Condition of Each Federal Reserve Bank on January 29, 2003 (continued) Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco Liabilities Federal Reserve notes outstanding 759,93 5 32,8 5 3 332,3 2 7 25,1 3 7 32,3 6 5 54,0 2 5 58,3 9 1 63,7 1 5 21,8 9 2 14,9 7 5 20,7 4 9 36,3 5 7 67,147 Less: notes held by F.R. Banks 117,33 1 5,0 4 2 27,1 6 7 8,0 7 4 5,1 0 8 9,2 0 7 19,0 5 9 8,2 2 1 3,6 1 8 1,8 3 4 4,4 7 4 8,8 4 3 16,685 Federal Reserve notes, net 642,60 4 27,8 1 1 305,1 6 0 17,0 6 4 27,2 5 7 44,8 1 9 39,3 3 3 55,4 9 5 18,2 7 4 13,1 4 1 16,2 7 5 27,5 1 4 50,462 Reverse repurchase agreements1 18,46 6 1,0 5 8 7,2 6 6 7 1 0 1,0 1 9 1,4 4 0 1,3 1 5 2,1 7 3 6 5 7 2 8 9 5 4 6 4 1 0 1,584 Deposits 25,67 1 9 0 5 12,7 2 2 6 6 2 1,6 3 8 2,3 1 5 1,3 0 7 1,7 8 8 7 1 7 4 6 8 6 3 2 6 2 6 1,890 Depository institutions 18,32 7 9 0 1 5,4 6 7 6 5 9 1,6 3 5 2,2 5 1 1,3 0 4 1,7 8 4 7 1 6 4 6 7 6 3 0 6 2 5 1,886 U.S. Treasury, general account 7,03 0 0 7,0 3 0 0 0 0 0 0 0 0 0 0 0 Foreign official 10 0 2 7 7 1 3 7 2 3 1 1 1 1 3 Other 21 4 2 1 4 9 2 1 5 6 1 1 0 0 1 1 0 Deferred availability cash items 9,01 0 6 5 4 9 1 0 4 7 2 1,0 0 8 5 7 4 8 6 2 6 7 1 2 4 6 5 4 3 3 3 2 4 7 2 2,266 Other liabilities and accrued dividends2 2,24 2 1 3 3 6 8 6 1 0 1 1 2 5 2 6 0 1 7 4 2 3 7 1 0 0 7 6 9 1 8 7 170 Total liabilities 697,99 3 30,5 6 1 326,7 4 4 19,0 0 9 31,0 4 7 49,4 0 8 42,9 9 1 60,3 6 4 19,9 9 4 14,5 1 8 17,8 7 6 29,1 1 0 56,372 Capital Capital paid in 8,39 9 4 3 7 1,8 0 9 2 3 4 7 0 7 2,0 7 9 4 7 5 8 5 9 2 0 0 3 4 0 2 0 1 1 8 8 868 Surplus 8,38 0 4 3 6 1,8 0 9 2 3 3 7 0 2 2,0 7 3 4 7 5 8 5 8 1 9 9 3 4 0 2 0 1 1 8 6 868 Other capital 55 2 3 9 1 9 2 2 0 3 8 5 9 4 3 6 4 1 5 8 1 4 9 50 Total liabilities and capital 715,32 5 31,4 7 3 330,5 5 4 19,4 9 6 32,4 9 5 53,6 1 9 43,9 8 4 62,1 4 5 20,4 0 9 15,2 0 6 18,2 9 2 29,4 9 3 58,159 Note: Components may not sum to totals because of rounding. 1. Cash value of agreements, which are collateralized by U.S. Treasury securities. 2. Includes exchange-translation account reflecting the daily revaluation at market exchange rates of foreign exchange commitments. 5. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Wednesday Federal Reserve notes and collateral Jan 29, 2003 Federal Reserve notes, net of F.R. Bank holdings 642,604 Collateral held against Federal Reserve notes 642,604 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 629,365 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities1 649,916 Less: face value of securities under reverse repurchase agreements 18,472 U.S. Treasury and agency securities eligible to be pledged 631,445 Note: Components may not sum to totals because of rounding. 1. Includes face value of U.S. Treasury and agency securities held outright, compensation to adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements.