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 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 Mar 12, 2003 Mar 5, 2003 Mar 13, 2002 Mar 12, 2003 Reserve Bank credit 696,359 - 5,609 + 62,118 695,729 Securities held outright 638,586 + 1,713 + 66,662 638,724 U.S. Treasury1 638,576 + 1,713 + 66,662 638,714 Bills2 231,172 + 283 + 39,990 231,305 Notes and bonds, nominal2 393,911 + 1,415 + 24,771 393,911 Notes and bonds, inflation-indexed2 12,242 0 + 1,584 12,242 Inflation compensation3 1,251 + 15 + 317 1,256 Federal agency2 10 0 0 10 Repurchase agreements4 19,214 - 7,922 - 5,829 18,750 Loans to depository institutions 45 + 16 + 23 9 Primary credit 36 + 12 + 36 1 Secondary credit 0 0 0 0 Seasonal credit 9 + 3 - 11 8 Adjustment credit 0 0 - 3 0 Float 494 + 11 - 233 105 Other Federal Reserve assets 38,020 + 573 + 1,496 38,140 Gold stock 11,043 0 - 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 34,737 + 14 + 1,166 34,737 Total factors supplying reserve funds 744,340 - 5,594 + 63,284 743,709 Currency in circulation5 683,034 + 634 + 43,418 684,428 Reverse repurchase agreements6 18,332 + 254 + 18,332 17,912 Foreign official and international accounts 18,332 + 254 + 18,332 17,912 Dealers 0 0 0 0 Treasury cash holdings 356 + 11 - 65 367 Deposits with F.R. Banks, other than reserve balances 16,897 + 868 + 2,263 16,487 U.S. Treasury, general account 5,196 + 287 + 395 4,775 Foreign official 105 - 81 - 19 116 Service-related 11,363 + 642 + 1,884 11,363 Required clearing balances 10,372 + 36 + 1,442 10,372 Adjustments to compensate for float 991 + 606 + 442 991 Other 233 + 21 + 4 233 Other liabilities and capital 20,015 + 210 + 1,419 19,725 Total factors, other than reserve balances, absorbing reserve funds 738,634 + 1,978 + 65,367 738,919 Reserve balances with Federal Reserve Banks 5,705 - 7,573 - 2,084 4,789 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 901,765 + 11,087 . . . 898,979 U.S. Treasury 723,172 + 10,818 . . . 721,591 Federal agency 178,593 + 269 . . . 177,389 Securities lent to dealers 446 - 33 - 686 872 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 12, 2003 Mar 5, 2003 Mar 13, 2002 Assets Gold certificate account 11,039 0 - 5 Special drawing rights certificate account 2,200 0 0 Coin 1,070 - 10 - 24 Securities, repurchase agreements, and loans 657,483 - 2,926 + 60,722 Securities held outright 638,724 + 1,575 + 65,986 U.S. Treasury1 638,714 + 1,575 + 65,986 Bills2 231,305 + 244 + 40,243 Notes and bonds, nominal2 393,911 + 1,318 + 23,840 Notes and bonds, inflation-indexed2 12,242 0 + 1,584 Inflation compensation3 1,256 + 14 + 319 Federal agency2 10 0 0 Repurchase agreements4 18,750 - 4,500 - 5,250 Loans 9 - 2 - 13 Items in process of collection (1,091) 7,890 - 3,094 + 384 Bank premises 1,557 + 2 + 47 Other assets5 36,762 + 382 + 1,595 Total assets (1,091) 718,001 - 5,647 + 62,720 Liabilities Federal Reserve notes, net of F.R. Bank holdings 651,124 + 726 + 42,546 Reverse repurchase agreements6 17,912 - 47 + 17,912 Deposits (0) 21,343 - 5,482 + 524 Depository institutions 16,219 - 4,761 + 918 U.S. Treasury, general account 4,775 - 726 - 222 Foreign official 116 + 11 - 200 Other (0) 233 - 5 + 28 Deferred availability cash items (1,091) 7,897 - 876 + 127 Other liabilities and accrued dividends7 2,265 + 15 - 152 Total liabilities (1,091) 700,541 - 5,664 + 60,957 Capital accounts Capital paid in 8,491 + 13 + 841 Surplus 8,380 0 + 1,106 Other capital accounts 589 + 5 - 183 Total capital 17,460 + 18 + 1,763 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 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 4 35,307 - 212 0 0 14,750 17,912 16 days to 90 days 5 141,821 + 1,098 0 0 4,000 0 91 days to 1 year 0 149,837 + 677 10 0 . . . . . . Over 1 year to 5 years . . . 180,179 + 3 0 0 . . . . . . Over 5 years to 10 years . . . 51,734 + 4 0 0 . . . . . . Over 10 years . . . 79,837 + 6 0 0 . . . . . . All 9 638,714 + 1,575 10 0 18,750 17,912 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 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 1,0 7 0 5 0 3 9 7 2 4 6 1 5 0 1 0 3 1 4 1 5 9 4 1 7 0 1 7 2 129 Securities, repurchase agreements, and loans 657,4 8 3 36,5 9 5 270,0 6 3 24,5 6 1 35,2 4 2 49,8 1 6 45,4 8 0 75,1 6 7 22,7 1 2 9,9 9 1 18,8 8 2 14,1 7 5 54,800 Securities held outright 638,7 2 4 36,5 9 5 251,3 1 3 24,5 6 1 35,2 4 2 49,8 1 6 45,4 8 0 75,1 6 5 22,7 1 2 9,9 8 5 18,8 8 1 14,1 7 5 54,800 U.S. Treasury1 638,7 1 4 36,5 9 5 251,3 0 9 24,5 6 0 35,2 4 1 49,8 1 5 45,4 7 9 75,1 6 4 22,7 1 1 9,9 8 5 18,8 8 0 14,1 7 5 54,799 Bills2 231,3 0 5 13,2 5 3 91,0 1 0 8,8 9 4 12,7 6 2 18,0 4 0 16,4 7 0 27,2 2 0 8,2 2 5 3,6 1 6 6,8 3 7 5,1 3 3 19,845 Notes and bonds3 407,4 0 9 23,3 4 2 160,3 0 0 15,6 6 6 22,4 7 9 31,7 7 5 29,0 0 9 47,9 4 4 14,4 8 7 6,3 6 9 12,0 4 3 9,0 4 2 34,954 Federal agency2 1 0 1 4 0 1 1 1 1 0 0 0 0 1 Repurchase agreements4 18,7 5 0 0 18,7 5 0 0 0 0 0 0 0 0 0 0 0 Loans 9 0 0 0 0 0 0 2 0 6 1 0 0 Items in process of collection 8,9 8 1 5 4 3 8 5 0 4 5 5 5 9 7 7 5 1 4 9 3 5 5 6 4 1 3 6 7 5 5 2 1 3 7 0 2,756 Bank premises 1,5 5 7 9 1 1 8 6 5 0 1 5 2 1 4 4 2 7 8 1 1 6 4 4 1 2 7 5 1 1 4 3 175 Other assets5 36,7 6 2 1,8 3 7 12,7 5 2 1,1 2 9 2,4 0 9 5,7 9 2 2,2 0 1 3,6 6 7 1,0 1 5 9 9 5 9 2 5 8 1 0 3,230 Interdistrict settlement account 0 - 7,9 7 1 +41,2 6 8 - 7,0 4 0 - 7,7 8 0 - 4,0 5 7 - 5,6 3 1 -18,9 6 2 - 4,3 8 0 + 3,6 0 7 - 1,7 3 6 +13,9 8 6 - 1,303 Total assets 719,0 9 2 31,7 9 4 330,3 9 5 19,7 3 9 31,2 9 1 53,5 6 2 44,0 1 7 61,9 7 8 20,2 7 9 15,6 4 4 19,0 8 7 30,2 3 9 61,067 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 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 764,64 0 32,5 4 2 337,0 1 9 24,9 3 2 31,9 5 3 53,8 7 2 58,9 3 8 63,1 4 6 21,8 6 3 15,0 9 3 21,3 6 0 35,7 6 9 68,153 Less: notes held by F.R. Banks 113,51 5 4,7 9 3 27,9 5 7 7,5 8 2 4,7 1 2 8,9 8 8 19,5 9 7 7,9 6 6 3,6 1 3 1,5 7 8 4,3 3 3 7,5 6 3 14,833 Federal Reserve notes, net 651,12 4 27,7 4 9 309,0 6 2 17,3 5 0 27,2 4 1 44,8 8 4 39,3 4 2 55,1 8 0 18,2 5 0 13,5 1 5 17,0 2 7 28,2 0 6 53,320 Reverse repurchase agreements1 17,91 2 1,0 2 6 7,0 4 8 6 8 9 9 8 8 1,3 9 7 1,2 7 5 2,1 0 8 6 3 7 2 8 0 5 2 9 3 9 8 1,537 Deposits 21,34 3 1,2 8 4 8,6 9 1 6 3 7 1,0 5 1 2,1 9 4 1,3 0 9 2,0 0 8 5 8 6 4 4 7 6 1 5 6 6 9 1,853 Depository institutions 16,21 9 1,2 7 6 3,6 6 8 6 3 5 1,0 4 7 2,1 2 3 1,3 0 7 2,0 0 4 5 8 4 4 4 6 6 1 3 6 6 7 1,849 U.S. Treasury, general account 4,77 5 0 4,7 7 5 0 0 0 0 0 0 0 0 0 0 Foreign official 11 6 2 9 3 1 3 7 2 3 1 1 1 1 3 Other 23 3 7 1 5 6 1 1 6 4 0 0 2 0 1 1 0 Deferred availability cash items 8,98 8 6 9 4 1,0 1 0 4 4 3 4 4 8 6 1 8 9 2 2 6 5 4 2 8 8 6 2 9 4 0 1 4 9 3 2,388 Other liabilities and accrued dividends2 2,26 5 1 3 9 6 8 9 1 0 2 1 3 0 2 4 0 1 8 7 2 3 8 1 0 2 7 9 9 0 8 8 181 Total liabilities 701,63 2 30,8 9 2 326,4 9 9 19,2 2 0 29,8 5 9 49,3 3 2 43,0 3 5 60,1 8 7 19,8 6 2 14,9 5 0 18,6 6 2 29,8 5 4 59,279 Capital Capital paid in 8,49 1 4 3 8 1,8 5 4 2 5 1 7 0 0 2,0 9 2 4 7 5 8 7 3 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 9 2 8 2 3 3 3 5 2 9 6 5 3 2 6 0 1 7 1 1 2 0 1 1 46 Total liabilities and capital 719,09 2 31,7 9 4 330,3 9 5 19,7 3 9 31,2 9 1 53,5 6 2 44,0 1 7 61,9 7 8 20,2 7 9 15,6 4 4 19,0 8 7 30,2 3 9 61,067 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 12, 2003 Federal Reserve notes, net of F.R. Bank holdings 651,124 Collateral held against Federal Reserve notes 651,124 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 637,886 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities1 657,474 Less: face value of securities under reverse repurchase agreements 17,918 U.S. Treasury and agency securities eligible to be pledged 639,556 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.