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 20, 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 19, 2003 Feb 12, 2003 Feb 20, 2002 Feb 19, 2003 Reserve Bank credit 701,756 + 10,353 + 65,319 706,853 Securities held outright 631,009 + 1,058 + 65,115 631,273 U.S. Treasury1 630,999 + 1,058 + 65,115 631,263 Bills2 227,294 + 353 + 37,902 227,561 Notes and bonds, nominal2 390,217 + 713 + 24,828 390,217 Notes and bonds, inflation-indexed2 12,242 0 + 2,056 12,242 Inflation compensation3 1,245 - 8 + 327 1,242 Federal agency2 10 0 0 10 Repurchase agreements4 30,067 + 10,782 - 4,683 34,496 Loans to depository institutions 19 - 12 + 1 17 Primary credit 14 - 14 + 14 13 Secondary credit 0 0 0 0 Seasonal credit 5 + 2 - 11 4 Adjustment credit 0 0 - 2 0 Float 822 - 881 + 880 3,830 Other Federal Reserve assets 39,838 - 596 + 4,005 37,237 Gold stock 11,043 0 - 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 34,695 + 14 + 1,185 34,695 Total factors supplying reserve funds 749,694 + 10,366 + 66,503 754,791 Currency in circulation5 682,868 + 4,357 + 44,028 684,264 Reverse repurchase agreements6 17,925 - 1,024 + 17,925 17,850 Foreign official and international accounts 17,925 + 47 + 17,925 17,850 Dealers 0 - 1,071 0 0 Treasury cash holdings 358 + 2 - 49 348 Deposits with F.R. Banks, other than reserve balances 16,157 + 203 + 1,464 15,553 U.S. Treasury, general account 5,048 + 367 + 156 4,407 Foreign official 132 + 17 - 4 134 Service-related 10,730 - 188 + 1,285 10,730 Required clearing balances 10,315 - 2 + 1,502 10,315 Adjustments to compensate for float 415 - 186 - 217 415 Other 247 + 8 + 28 281 Other liabilities and capital 19,659 + 209 + 1,868 19,665 Total factors, other than reserve balances, absorbing reserve funds 736,967 + 3,747 + 65,236 737,681 Reserve balances with Federal Reserve Banks 12,728 + 6,620 + 1,267 17,111 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 874,595 + 4,684 . . . 878,685 U.S. Treasury 700,321 + 2,502 . . . 706,434 Federal agency 174,274 + 2,182 . . . 172,250 Securities lent to dealers 324 - 663 - 462 242 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 19, 2003 Feb 12, 2003 Feb 20, 2002 Assets Gold certificate account 11,039 0 - 5 Special drawing rights certificate account 2,200 0 0 Coin 1,123 - 19 - 26 Securities, repurchase agreements, and loans 665,786 + 14,079 + 63,190 Securities held outright 631,273 + 316 + 64,441 U.S. Treasury1 631,263 + 316 + 64,441 Bills2 227,561 + 323 + 37,929 Notes and bonds, nominal2 390,217 0 + 24,125 Notes and bonds, inflation-indexed2 12,242 0 + 2,056 Inflation compensation3 1,242 - 8 + 330 Federal agency2 10 0 0 Repurchase agreements4 34,496 + 13,750 - 1,253 Loans 17 + 13 + 2 Items in process of collection (1,153) 14,167 + 6,338 + 180 Bank premises 1,557 + 16 + 46 Other assets5 35,548 - 3,285 + 1,551 Total assets (1,153) 731,420 + 17,128 + 64,935 Liabilities Federal Reserve notes, net of F.R. Bank holdings 651,036 + 2,953 + 43,194 Reverse repurchase agreements6 17,850 + 246 + 17,850 Deposits (0) 32,828 + 11,263 + 2,972 Depository institutions 28,006 + 10,299 + 3,418 U.S. Treasury, general account 4,407 + 880 - 539 Foreign official 134 + 31 + 53 Other (0) 281 + 53 + 40 Deferred availability cash items (1,153) 10,040 + 2,265 - 1,247 Other liabilities and accrued dividends7 2,249 - 28 - 87 Total liabilities (1,153) 714,004 + 16,700 + 62,685 Capital accounts Capital paid in 8,434 + 30 + 994 Surplus 8,380 + 23 + 1,111 Other capital accounts 603 + 376 + 146 Total capital 17,416 + 428 + 2,251 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 19, 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 17 46,317 + 1,810 0 0 30,496 17,850 16 days to 90 days 0 131,154 - 5,483 0 0 4,000 0 91 days to 1 year 0 145,010 + 2,230 10 0 . . . . . . Over 1 year to 5 years . . . 177,990 + 2,158 0 0 . . . . . . Over 5 years to 10 years . . . 50,961 - 395 0 0 . . . . . . Over 10 years . . . 79,831 - 3 0 0 . . . . . . All 17 631,263 + 316 10 0 34,496 17,850 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 19, 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 2 3 5 4 3 8 6 8 5 2 1 6 0 1 1 7 1 4 8 6 5 4 1 7 5 1 7 7 127 Securities, repurchase agreements, and loans 665,7 8 6 36,1 6 9 282,8 8 7 24,2 7 4 34,8 3 0 49,2 3 5 44,9 4 9 74,2 8 8 22,4 4 7 9,8 7 2 18,6 6 1 14,0 1 0 54,164 Securities held outright 631,2 7 3 36,1 6 9 248,3 8 1 24,2 7 4 34,8 3 0 49,2 3 5 44,9 4 9 74,2 8 8 22,4 4 7 9,8 6 8 18,6 6 0 14,0 1 0 54,161 U.S. Treasury1 631,2 6 3 36,1 6 8 248,3 7 7 24,2 7 4 34,8 3 0 49,2 3 4 44,9 4 8 74,2 8 7 22,4 4 6 9,8 6 8 18,6 6 0 14,0 1 0 54,160 Bills2 227,5 6 1 13,0 3 8 89,5 3 6 8,7 5 0 12,5 5 6 17,7 4 8 16,2 0 3 26,7 7 9 8,0 9 2 3,5 5 7 6,7 2 7 5,0 5 0 19,524 Notes and bonds3 403,7 0 2 23,1 3 0 158,8 4 1 15,5 2 3 22,2 7 4 31,4 8 6 28,7 4 5 47,5 0 8 14,3 5 5 6,3 1 1 11,9 3 3 8,9 6 0 34,636 Federal agency2 1 0 1 4 0 1 1 1 1 0 0 0 0 1 Repurchase agreements4 34,4 9 6 0 34,4 9 6 0 0 0 0 0 0 0 0 0 0 Loans 1 7 0 1 0 0 0 0 0 0 0 3 0 0 3 Items in process of collection 15,3 2 1 7 4 7 9 7 8 7 1 3 1,0 1 5 1,4 0 9 1,7 5 8 1,6 2 8 8 1 4 9 5 7 1,0 4 5 7 9 6 3,461 Bank premises 1,5 5 7 9 2 1 8 6 5 0 1 5 2 1 4 4 2 7 9 1 1 6 4 4 1 2 7 5 0 1 4 2 176 Other assets5 35,5 4 8 1,7 6 6 12,3 2 4 1,0 8 3 2,3 3 0 5,6 4 6 2,1 4 5 3,5 2 7 9 6 9 9 6 3 8 8 7 7 7 8 3,129 Interdistrict settlement account 0 - 3,9 9 3 +30,5 2 0 - 7,0 8 4 - 6,3 1 5 - 1,9 5 8 - 4,1 8 1 -17,6 4 3 - 3,7 1 9 + 3,8 0 2 - 1,5 9 3 +13,9 2 6 - 1,762 Total assets 732,5 7 4 35,4 8 3 332,1 7 0 19,6 1 7 32,6 9 1 55,6 0 2 46,1 5 9 63,3 5 6 21,0 3 8 15,9 7 1 19,5 0 0 30,4 1 4 60,574 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 19, 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 762,14 7 32,8 2 2 334,9 8 3 24,9 6 6 32,2 8 7 53,8 5 4 58,1 1 6 63,4 1 4 21,9 0 7 15,0 2 0 21,4 1 6 36,0 0 9 67,353 Less: notes held by F.R. Banks 111,11 1 4,8 6 6 27,2 0 1 7,5 8 3 4,6 5 4 8,6 3 1 17,9 7 7 7,8 2 3 3,2 3 5 1,7 8 5 4,2 7 9 7,7 4 2 15,334 Federal Reserve notes, net 651,03 6 27,9 5 6 307,7 8 2 17,3 8 2 27,6 3 3 45,2 2 3 40,1 3 9 55,5 9 1 18,6 7 2 13,2 3 5 17,1 3 7 28,2 6 7 52,019 Reverse repurchase agreements1 17,85 0 1,0 2 3 7,0 2 3 6 8 6 9 8 5 1,3 9 2 1,2 7 1 2,1 0 1 6 3 5 2 7 9 5 2 8 3 9 6 1,531 Deposits 32,82 8 4,8 1 0 11,9 1 6 5 1 3 1,8 1 1 3,8 5 8 2,2 8 2 2,5 5 1 8 6 5 8 8 4 7 5 1 6 2 6 1,962 Depository institutions 28,00 6 4,8 0 5 7,2 4 1 5 1 2 1,8 0 7 3,7 4 2 2,2 8 0 2,5 4 7 8 5 8 8 8 3 7 4 9 6 2 5 1,958 U.S. Treasury, general account 4,40 7 0 4,4 0 7 0 0 0 0 0 0 0 0 0 0 Foreign official 13 4 2 1 1 1 1 3 7 2 3 1 1 1 1 3 Other 28 1 4 1 5 8 0 2 1 0 8 0 1 7 0 1 0 0 Deferred availability cash items 11,19 3 6 4 9 8 8 5 4 4 5 6 9 6 6 7 8 1,2 9 7 1,0 8 5 3 4 6 8 0 3 5 7 1 6 4 9 3,091 Other liabilities and accrued dividends2 2,24 9 1 3 6 6 8 0 1 0 1 1 2 7 2 4 0 1 8 3 2 4 1 1 0 1 8 1 9 0 8 6 184 Total liabilities 715,15 7 34,5 7 4 328,2 8 7 19,1 2 8 31,2 5 2 51,3 9 1 45,1 7 1 61,5 6 9 20,6 1 8 15,2 8 1 19,0 7 6 30,0 2 4 58,786 Capital Capital paid in 8,43 4 4 3 7 1,8 5 4 2 3 4 6 9 2 2,0 8 0 4 7 5 8 6 1 2 0 0 3 4 1 2 0 4 1 8 8 868 Surplus 8,38 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 60 3 3 5 2 2 1 2 3 4 4 5 8 3 7 6 9 2 0 9 1 9 1 5 53 Total liabilities and capital 732,57 4 35,4 8 3 332,1 7 0 19,6 1 7 32,6 9 1 55,6 0 2 46,1 5 9 63,3 5 6 21,0 3 8 15,9 7 1 19,5 0 0 30,4 1 4 60,574 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 19, 2003 Federal Reserve notes, net of F.R. Bank holdings 651,036 Collateral held against Federal Reserve notes 651,036 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 637,798 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities1 665,769 Less: face value of securities under reverse repurchase agreements 17,856 U.S. Treasury and agency securities eligible to be pledged 647,913 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.