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 March 6, 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 Mar 5, 2003 Feb 26, 2003 Mar 6, 2002 Mar 5, 2003 Reserve Bank credit 702,078 + 5,046 + 65,843 700,178 Securities held outright 636,873 + 1,941 + 68,353 637,149 U.S. Treasury1 636,863 + 1,941 + 68,353 637,139 Bills2 230,889 + 859 + 40,988 231,061 Notes and bonds, nominal2 392,496 + 1,084 + 25,474 392,593 Notes and bonds, inflation-indexed2 12,242 0 + 1,584 12,242 Inflation compensation3 1,236 - 2 + 308 1,242 Federal agency2 10 0 0 10 Repurchase agreements4 27,136 + 3,815 - 5,256 23,250 Loans to depository institutions 29 + 16 + 3 11 Primary credit 24 + 14 + 24 1 Secondary credit 0 0 0 0 Seasonal credit 6 + 2 - 8 10 Adjustment credit 0 0 - 13 0 Float 468 - 837 + 842 1,868 Other Federal Reserve assets 37,573 + 113 + 1,902 37,901 Gold stock 11,043 0 - 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 34,723 + 14 + 1,174 34,723 Total factors supplying reserve funds 750,044 + 5,059 + 67,016 748,144 Currency in circulation5 682,400 + 113 + 43,857 683,692 Reverse repurchase agreements6 18,078 + 340 + 18,078 17,959 Foreign official and international accounts 18,078 + 340 + 18,078 17,959 Dealers 0 0 0 0 Treasury cash holdings 345 - 2 - 70 354 Deposits with F.R. Banks, other than reserve balances 16,029 - 480 + 1,137 16,566 U.S. Treasury, general account 4,909 - 340 - 564 5,501 Foreign official 186 + 75 + 62 105 Service-related 10,721 - 183 + 1,673 10,721 Required clearing balances 10,336 0 + 1,463 10,336 Adjustments to compensate for float 385 - 182 + 209 385 Other 212 - 33 - 36 238 Other liabilities and capital 19,805 - 159 + 1,798 19,693 Total factors, other than reserve balances, absorbing reserve funds 736,656 - 190 + 64,800 738,263 Reserve balances with Federal Reserve Banks 13,388 + 5,249 + 2,217 9,882 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 890,678 + 9,294 . . . 896,617 U.S. Treasury 712,354 + 7,639 . . . 717,786 Federal agency 178,324 + 1,654 . . . 178,831 Securities lent to dealers 479 + 153 - 250 120 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 Mar 5, 2003 Feb 26, 2003 Mar 6, 2002 Assets Gold certificate account 11,039 0 - 5 Special drawing rights certificate account 2,200 0 0 Coin 1,080 - 20 - 31 Securities, repurchase agreements, and loans 660,409 - 1,352 + 55,031 Securities held outright 637,149 + 1,143 + 67,048 U.S. Treasury1 637,139 + 1,143 + 67,048 Bills2 231,061 + 455 + 40,090 Notes and bonds, nominal2 392,593 + 680 + 25,063 Notes and bonds, inflation-indexed2 12,242 0 + 1,584 Inflation compensation3 1,242 + 7 + 311 Federal agency2 10 0 0 Repurchase agreements4 23,250 - 2,500 - 11,999 Loans 11 + 5 - 17 Items in process of collection (1,143) 10,984 + 1,787 + 2,358 Bank premises 1,555 - 2 + 46 Other assets5 36,380 + 250 + 1,769 Total assets (1,143) 723,648 + 664 + 59,168 Liabilities Federal Reserve notes, net of F.R. Bank holdings 650,398 + 728 + 42,037 Reverse repurchase agreements6 17,959 + 538 + 17,959 Deposits (0) 26,825 - 2,073 - 2,737 Depository institutions 20,980 - 2,576 - 2,857 U.S. Treasury, general account 5,501 + 551 + 91 Foreign official 105 - 49 + 30 Other (0) 238 0 - 3 Deferred availability cash items (1,143) 8,773 + 1,477 + 468 Other liabilities and accrued dividends7 2,250 - 26 - 123 Total liabilities (1,143) 706,205 + 644 + 57,604 Capital accounts Capital paid in 8,478 + 38 + 842 Surplus 8,380 0 + 1,107 Other capital accounts 584 - 19 - 386 Total capital 17,442 + 19 + 1,563 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, March 5, 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 1 35,519 - 9,556 0 0 20,250 17,959 16 days to 90 days 10 140,723 + 7,024 0 0 3,000 0 91 days to 1 year 0 149,160 + 2,408 10 0 . . . . . . Over 1 year to 5 years . . . 180,176 + 1,194 0 0 . . . . . . Over 5 years to 10 years . . . 51,730 + 71 0 0 . . . . . . Over 10 years . . . 79,831 + 3 0 0 . . . . . . All 11 637,139 + 1,143 10 0 23,250 17,959 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 March 5, 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 1,0 8 0 5 1 3 8 7 1 4 8 1 5 1 1 0 8 1 4 2 6 0 4 1 7 2 1 7 3 126 Securities, repurchase agreements, and loans 660,4 0 9 36,5 0 5 273,9 4 3 24,5 0 0 35,1 5 5 49,6 9 3 45,3 6 8 74,9 8 4 22,6 5 6 9,9 6 6 18,8 3 4 14,1 4 1 54,666 Securities held outright 637,1 4 9 36,5 0 5 250,6 9 3 24,5 0 0 35,1 5 5 49,6 9 3 45,3 6 8 74,9 8 0 22,6 5 6 9,9 6 0 18,8 3 4 14,1 4 1 54,665 U.S. Treasury1 637,1 3 9 36,5 0 5 250,6 8 9 24,5 0 0 35,1 5 4 49,6 9 2 45,3 6 7 74,9 7 9 22,6 5 5 9,9 6 0 18,8 3 4 14,1 4 0 54,664 Bills2 231,0 6 1 13,2 3 9 90,9 1 4 8,8 8 5 12,7 4 9 18,0 2 1 16,4 5 2 27,1 9 1 8,2 1 6 3,6 1 2 6,8 3 0 5,1 2 8 19,824 Notes and bonds3 406,0 7 8 23,2 6 6 159,7 7 6 15,6 1 5 22,4 0 5 31,6 7 1 28,9 1 4 47,7 8 7 14,4 3 9 6,3 4 8 12,0 0 4 9,0 1 2 34,840 Federal agency2 1 0 1 4 0 1 1 1 1 0 0 0 0 1 Repurchase agreements4 23,2 5 0 0 23,2 5 0 0 0 0 0 0 0 0 0 0 0 Loans 1 1 0 0 0 0 0 0 4 0 5 0 0 1 Items in process of collection 12,1 2 7 6 8 0 7 1 8 6 9 8 7 9 9 7 8 3 1,2 6 2 1,3 1 4 5 7 6 6 1 7 8 2 7 5 4 7 3,306 Bank premises 1,5 5 5 9 1 1 8 6 5 0 1 5 2 1 4 3 2 7 8 1 1 6 4 4 1 2 7 5 0 1 4 2 175 Other assets5 36,3 8 0 1,9 2 1 12,5 6 9 1,1 0 9 2,3 8 2 5,7 5 4 2,1 6 3 3,6 1 0 9 9 8 9 8 3 9 0 9 7 9 9 3,185 Interdistrict settlement account 0 - 8,3 9 8 +40,0 2 4 - 7,3 2 1 - 7,1 0 7 - 3,3 9 9 - 4,9 7 7 -19,5 5 8 - 4,2 5 6 + 3,7 0 5 - 1,4 5 9 +13,9 2 5 - 1,178 Total assets 724,7 9 1 31,4 9 8 332,7 1 5 19,6 2 0 32,0 5 5 54,0 9 1 45,2 9 4 61,9 0 0 20,4 9 5 15,6 4 7 19,6 0 8 30,3 1 0 61,560 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 March 5, 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 763,52 2 32,5 8 0 336,0 0 7 24,9 7 1 32,0 3 3 53,7 6 6 58,7 9 7 63,0 6 5 21,8 6 2 15,1 2 2 21,3 9 5 35,8 3 6 68,089 Less: notes held by F.R. Banks 113,12 4 4,8 9 4 27,9 3 5 7,7 0 3 4,6 2 8 8,7 5 6 18,9 3 7 7,9 9 0 3,4 8 9 1,6 8 0 4,2 6 0 7,6 5 8 15,194 Federal Reserve notes, net 650,39 8 27,6 8 6 308,0 7 2 17,2 6 8 27,4 0 4 45,0 1 0 39,8 6 0 55,0 7 5 18,3 7 3 13,4 4 3 17,1 3 5 28,1 7 8 52,895 Reverse repurchase agreements1 17,95 9 1,0 2 9 7,0 6 6 6 9 1 9 9 1 1,4 0 1 1,2 7 9 2,1 1 3 6 3 9 2 8 1 5 3 1 3 9 9 1,541 Deposits 26,82 5 1,0 0 6 11,9 7 8 5 6 7 1,5 1 1 2,5 2 6 2,0 3 9 1,9 6 8 6 6 5 5 0 8 8 6 2 7 2 3 2,472 Depository institutions 20,98 0 1,0 0 1 6,2 3 5 5 6 6 1,5 0 8 2,4 5 1 2,0 3 7 1,9 6 4 6 6 2 5 0 7 8 6 0 7 2 1 2,468 U.S. Treasury, general account 5,50 1 0 5,5 0 1 0 0 0 0 0 0 0 0 0 0 Foreign official 10 5 2 8 2 1 3 7 2 3 1 1 1 1 3 Other 23 8 4 1 6 0 0 0 6 8 0 0 2 0 1 1 0 Deferred availability cash items 9,91 6 7 3 8 1,0 1 4 4 9 3 5 8 7 6 7 1 9 5 2 7 2 4 3 0 1 6 4 0 5 6 9 5 4 0 2,689 Other liabilities and accrued dividends2 2,25 0 1 3 7 6 8 1 1 0 1 1 2 9 2 5 0 1 8 4 2 3 5 1 0 0 7 8 9 1 8 7 178 Total liabilities 707,34 8 30,5 9 7 328,8 1 1 19,1 1 9 30,6 2 2 49,8 5 7 44,3 1 3 60,1 1 5 20,0 7 8 14,9 4 9 19,1 8 7 29,9 2 6 59,774 Capital Capital paid in 8,47 8 4 3 7 1,8 5 4 2 5 0 6 9 9 2,0 9 2 4 7 5 8 6 2 2 0 0 3 4 3 2 0 4 1 8 8 873 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 58 4 2 7 2 4 1 1 8 3 1 6 8 3 2 6 5 1 8 1 5 1 6 1 0 44 Total liabilities and capital 724,79 1 31,4 9 8 332,7 1 5 19,6 2 0 32,0 5 5 54,0 9 1 45,2 9 4 61,9 0 0 20,4 9 5 15,6 4 7 19,6 0 8 30,3 1 0 61,560 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 Mar 5, 2003 Federal Reserve notes, net of F.R. Bank holdings 650,398 Collateral held against Federal Reserve notes 650,398 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 637,159 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities1 660,399 Less: face value of securities under reverse repurchase agreements 17,965 U.S. Treasury and agency securities eligible to be pledged 642,433 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.