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 February 13, 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 Feb 12, 2003 Feb 5, 2003 Feb 13, 2002 Feb 12, 2003 Reserve Bank credit 691,408 - 3,074 + 63,591 691,740 Securities held outright 629,951 + 536 + 67,295 630,957 U.S. Treasury1 629,941 + 536 + 67,295 630,947 Bills2 226,941 + 259 + 38,651 227,238 Notes and bonds, nominal2 389,504 + 285 + 26,261 390,217 Notes and bonds, inflation-indexed2 12,242 0 + 2,056 12,242 Inflation compensation3 1,253 - 8 + 325 1,250 Federal agency2 10 0 0 10 Repurchase agreements4 19,285 - 5,108 - 7,179 20,746 Loans to depository institutions 31 + 16 - 24 4 Primary credit 28 + 17 + 28 0 Secondary credit 0 0 0 0 Seasonal credit 3 - 1 - 21 4 Adjustment credit 0 0 - 31 0 Float 1,708 + 1,123 + 1,699 -507 Other Federal Reserve assets 40,434 + 360 + 1,801 40,539 Gold stock 11,043 0 - 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 34,612 + 14 + 1,122 34,612 Total factors supplying reserve funds 739,263 - 3,059 + 64,711 739,594 Currency in circulation5 678,441 + 2,663 + 43,424 681,197 Reverse repurchase agreements6 18,949 + 466 + 18,949 17,604 Foreign official and international accounts 17,878 - 605 + 17,878 17,604 Dealers 1,071 + 1,071 + 1,071 0 Treasury cash holdings 356 - 4 - 52 360 Deposits with F.R. Banks, other than reserve balances 15,954 - 502 + 1,067 14,777 U.S. Treasury, general account 4,681 - 711 - 295 3,527 Foreign official 115 + 7 - 199 103 Service-related 10,918 + 194 + 1,542 10,918 Required clearing balances 10,317 - 39 + 1,503 10,317 Adjustments to compensate for float 601 + 233 + 39 601 Other 239 + 7 + 17 228 Other liabilities and capital 19,450 - 63 + 1,735 19,265 Total factors, other than reserve balances, absorbing reserve funds 733,150 + 2,560 + 65,123 733,202 Reserve balances with Federal Reserve Banks 6,113 - 5,619 - 412 6,392 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 869,911 + 4,545 . . . 872,033 U.S. Treasury 697,819 + 1,819 . . . 698,215 Federal agency 172,092 + 2,725 . . . 173,818 Securities lent to dealers 987 + 579 - 668 1,513 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 Feb 12, 2003 Feb 5, 2003 Feb 13, 2002 Assets Gold certificate account 11,039 0 - 5 Special drawing rights certificate account 2,200 0 0 Coin 1,142 + 8 - 27 Securities, repurchase agreements, and loans 651,707 - 5,470 + 61,859 Securities held outright 630,957 + 1,546 + 66,630 U.S. Treasury1 630,947 + 1,546 + 66,630 Bills2 227,238 + 556 + 38,108 Notes and bonds, nominal2 390,217 + 998 + 26,139 Notes and bonds, inflation-indexed2 12,242 0 + 2,056 Inflation compensation3 1,250 - 7 + 327 Federal agency2 10 0 0 Repurchase agreements4 20,746 - 7,004 - 4,754 Loans 4 - 11 - 17 Items in process of collection (1,265) 7,829 - 1,130 + 795 Bank premises 1,541 + 2 + 30 Other assets5 38,833 + 222 + 1,473 Total assets (1,265) 714,292 - 6,367 + 64,125 Liabilities Federal Reserve notes, net of F.R. Bank holdings 648,083 + 3,203 + 42,590 Reverse repurchase agreements6 17,604 - 382 + 17,604 Deposits (0) 21,565 - 8,249 + 1,885 Depository institutions 17,707 - 6,049 + 2,703 U.S. Treasury, general account 3,527 - 2,137 - 581 Foreign official 103 - 45 - 253 Other (0) 228 - 18 + 16 Deferred availability cash items (1,265) 7,775 - 929 + 383 Other liabilities and accrued dividends7 2,277 + 46 - 61 Total liabilities (1,265) 697,304 - 6,312 + 62,401 Capital accounts Capital paid in 8,404 0 + 962 Surplus 8,357 - 23 + 1,087 Other capital accounts 227 - 33 - 325 Total capital 16,988 - 55 + 1,724 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, February 12, 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 0 44,507 - 1,474 0 0 15,746 17,604 16 days to 90 days 4 136,637 + 1,970 0 0 5,000 0 91 days to 1 year 0 142,780 + 537 10 0 . . . . . . Over 1 year to 5 years . . . 175,832 + 398 0 0 . . . . . . Over 5 years to 10 years . . . 51,356 + 117 0 0 . . . . . . Over 10 years . . . 79,834 - 3 0 0 . . . . . . All 4 630,947 + 1,546 10 0 20,746 17,604 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 February 12, 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 4 2 5 5 4 0 7 0 5 3 1 6 4 1 2 5 1 5 0 6 5 4 1 7 7 1 7 7 127 Securities, repurchase agreements, and loans 651,7 0 7 36,1 5 1 269,0 0 3 24,2 6 2 34,8 1 3 49,2 1 0 44,9 2 7 74,2 5 1 22,4 3 6 9,8 6 7 18,6 5 2 14,0 0 3 54,134 Securities held outright 630,9 5 7 36,1 5 0 248,2 5 7 24,2 6 2 34,8 1 3 49,2 1 0 44,9 2 7 74,2 5 1 22,4 3 5 9,8 6 3 18,6 5 1 14,0 0 3 54,134 U.S. Treasury1 630,9 4 7 36,1 5 0 248,2 5 3 24,2 6 2 34,8 1 2 49,2 0 9 44,9 2 6 74,2 5 0 22,4 3 5 9,8 6 3 18,6 5 1 14,0 0 3 54,133 Bills2 227,2 3 8 13,0 2 0 89,4 0 9 8,7 3 8 12,5 3 8 17,7 2 3 16,1 8 0 26,7 4 1 8,0 8 0 3,5 5 2 6,7 1 7 5,0 4 3 19,496 Notes and bonds3 403,7 0 9 23,1 3 0 158,8 4 4 15,5 2 4 22,2 7 5 31,4 8 6 28,7 4 6 47,5 0 9 14,3 5 5 6,3 1 1 11,9 3 4 8,9 6 0 34,637 Federal agency2 1 0 1 4 0 1 1 1 1 0 0 0 0 1 Repurchase agreements4 20,7 4 6 0 20,7 4 6 0 0 0 0 0 0 0 0 0 0 Loans 4 0 0 0 0 0 0 0 0 3 0 0 0 Items in process of collection 9,0 9 5 4 6 2 8 7 4 4 5 9 6 2 6 6 1 1 8 7 1 9 3 4 3 6 2 2 9 1 5 1 4 3 2 2 2,767 Bank premises 1,5 4 1 9 2 1 8 6 5 0 1 5 2 1 2 9 2 7 9 1 1 6 4 4 1 2 6 5 0 1 4 2 176 Other assets5 38,8 3 3 1,9 5 8 13,6 5 3 1,2 1 3 2,5 0 9 5,8 7 3 2,3 5 5 3,9 2 5 1,0 9 2 1,0 1 3 9 8 8 8 5 5 3,399 Interdistrict settlement account 0 - 8,0 1 2 +39,0 6 0 - 7,1 7 9 - 6,8 0 3 - 3,5 2 6 - 4,9 2 3 -17,3 9 7 - 3,9 3 4 + 3,6 5 1 - 1,8 9 3 +14,0 0 3 - 3,046 Total assets 715,5 5 7 31,3 5 3 328,0 5 2 19,3 8 8 31,9 7 6 53,4 2 7 44,7 2 6 63,2 7 1 20,4 8 2 15,1 9 8 18,7 6 2 30,0 8 6 58,837 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 February 12, 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 761,53 6 32,7 9 8 334,3 9 1 25,0 4 0 32,2 9 6 53,9 3 5 58,1 4 4 63,5 2 1 21,8 7 8 14,9 6 3 21,1 8 8 36,1 1 0 67,273 Less: notes held by F.R. Banks 113,45 3 4,9 6 2 27,4 1 4 8,0 0 3 4,7 9 5 8,7 5 3 18,0 7 1 7,9 3 8 3,2 7 0 1,8 5 3 4,3 5 5 8,0 2 7 16,013 Federal Reserve notes, net 648,08 3 27,8 3 6 306,9 7 7 17,0 3 6 27,5 0 1 45,1 8 3 40,0 7 3 55,5 8 3 18,6 0 8 13,1 1 0 16,8 3 2 28,0 8 3 51,260 Reverse repurchase agreements1 17,60 4 1,0 0 9 6,9 2 6 6 7 7 9 7 1 1,3 7 3 1,2 5 3 2,0 7 2 6 2 6 2 7 5 5 2 0 3 9 1 1,510 Deposits 21,56 5 7 8 3 8,6 7 3 5 4 8 1,4 4 3 1,8 7 8 1,3 5 9 2,9 6 5 4 4 5 4 6 0 5 3 6 6 6 7 1,808 Depository institutions 17,70 7 7 8 0 4,9 2 4 5 4 7 1,4 3 9 1,7 9 2 1,3 5 7 2,9 6 1 4 4 4 4 5 9 5 3 4 6 6 5 1,805 U.S. Treasury, general account 3,52 7 0 3,5 2 7 0 0 0 0 0 0 0 0 0 0 Foreign official 10 3 2 7 9 1 3 7 2 3 1 1 1 1 3 Other 22 8 1 1 4 2 0 1 7 9 0 1 1 0 1 1 0 Deferred availability cash items 9,04 0 7 0 1 1,0 5 1 5 4 6 5 1 2 6 0 6 8 9 0 6 6 5 2 9 1 5 9 7 3 6 9 4 8 1 2,332 Other liabilities and accrued dividends2 2,27 7 1 3 8 6 8 6 1 0 2 1 2 7 2 5 6 1 8 3 2 4 1 1 0 2 7 8 9 2 8 8 184 Total liabilities 698,56 9 30,4 6 6 324,3 1 3 18,9 0 9 30,5 5 5 49,2 9 5 43,7 6 0 61,5 2 6 20,0 7 3 14,5 2 0 18,3 5 0 29,7 0 8 57,094 Capital Capital paid in 8,40 4 4 3 7 1,8 0 9 2 3 4 7 0 8 2,0 8 0 4 7 5 8 6 1 2 0 0 3 4 1 2 0 4 1 8 8 868 Surplus 8,35 7 4 3 6 1,8 0 9 2 3 3 7 0 2 2,0 5 2 4 7 5 8 5 8 1 9 9 3 3 7 2 0 1 1 8 6 868 Other capital 22 7 1 3 1 2 1 1 2 1 1 0 1 6 2 7 1 0 0 9 3 7 Total liabilities and capital 715,55 7 31,3 5 3 328,0 5 2 19,3 8 8 31,9 7 6 53,4 2 7 44,7 2 6 63,2 7 1 20,4 8 2 15,1 9 8 18,7 6 2 30,0 8 6 58,837 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 Feb 12, 2003 Federal Reserve notes, net of F.R. Bank holdings 648,083 Collateral held against Federal Reserve notes 648,083 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 634,094 Other eligible assets 751 Memo: Total U.S. Treasury and agency securities1 651,703 Less: face value of securities under reverse repurchase agreements 17,610 U.S. Treasury and agency securities eligible to be pledged 634,094 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.