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 April 3, 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 Apr 2, 2003 Mar 26, 2003 Apr 3, 2002 Apr 2, 2003 Reserve Bank credit 707,835 + 8,852 + 65,702 709,679 Securities held outright 641,311 + 1,182 + 65,541 641,482 U.S. Treasury1 641,301 + 1,182 + 65,541 641,472 Bills2 232,544 + 652 + 39,977 232,708 Notes and bonds, nominal2 394,621 0 + 23,038 394,621 Notes and bonds, inflation-indexed2 12,814 + 490 + 2,156 12,814 Inflation compensation3 1,322 + 40 + 370 1,329 Federal agency2 10 0 0 10 Repurchase agreements4 28,464 + 9,178 - 322 30,500 Loans to depository institutions 11 + 1 - 315 15 Primary credit 4 + 2 + 4 2 Secondary credit 0 0 0 0 Seasonal credit 7 - 1 - 19 13 Adjustment credit 0 0 - 300 0 Float -593 - 2,005 - 308 -796 Other Federal Reserve assets 38,642 + 496 + 1,106 38,478 Gold stock 11,043 0 - 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 34,709 + 14 + 1,079 34,709 Total factors supplying reserve funds 755,787 + 8,866 + 66,781 757,631 Currency in circulation5 685,796 + 1,358 + 42,866 687,628 Reverse repurchase agreements6 19,291 + 971 + 19,291 19,729 Foreign official and international accounts 19,291 + 971 + 19,291 19,729 Dealers 0 0 0 0 Treasury cash holdings 370 - 24 - 40 353 Deposits with F.R. Banks, other than reserve balances 17,259 - 519 + 1,559 17,837 U.S. Treasury, general account 5,654 - 262 + 259 6,199 Foreign official 123 - 117 - 64 103 Service-related 11,258 - 149 + 1,389 11,258 Required clearing balances 10,972 0 + 1,341 10,972 Adjustments to compensate for float 285 - 150 + 47 285 Other 225 + 10 - 24 277 Other liabilities and capital 19,963 + 551 + 1,651 19,721 Total factors, other than reserve balances, absorbing reserve funds 742,679 + 2,337 + 65,327 745,267 Reserve balances with Federal Reserve Banks 13,108 + 6,529 + 1,453 12,363 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 897,062 + 1,954 . . . 900,133 U.S. Treasury 717,586 + 2,016 . . . 721,059 Federal agency 179,476 - 62 . . . 179,074 Securities lent to dealers 1,867 - 891 + 341 1,422 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 Apr 2, 2003 Mar 26, 2003 Apr 3, 2002 Assets Gold certificate account 11,038 - 1 - 6 Special drawing rights certificate account 2,200 0 0 Coin 1,092 + 11 + 29 Securities, repurchase agreements, and loans 671,998 + 5,590 + 65,150 Securities held outright 641,482 + 581 + 64,254 U.S. Treasury1 641,472 + 581 + 64,254 Bills2 232,708 + 565 + 39,887 Notes and bonds, nominal2 394,621 0 + 21,837 Notes and bonds, inflation-indexed2 12,814 0 + 2,156 Inflation compensation3 1,329 + 17 + 373 Federal agency2 10 0 0 Repurchase agreements4 30,500 + 5,000 + 3,000 Loans 15 + 8 - 2,104 Items in process of collection (1,175) 8,376 + 1,811 + 187 Bank premises 1,557 - 1 + 46 Other assets5 37,146 + 25 + 1,450 Total assets (1,175) 733,407 + 7,436 + 66,856 Liabilities Federal Reserve notes, net of F.R. Bank holdings 654,360 + 1,430 + 41,573 Reverse repurchase agreements6 19,729 + 1,498 + 19,729 Deposits (0) 30,583 + 2,504 + 3,429 Depository institutions 24,004 + 2,189 + 3,241 U.S. Treasury, general account 6,199 + 272 + 228 Foreign official 103 - 59 - 20 Other (0) 277 + 102 - 20 Deferred availability cash items (1,175) 9,014 + 1,884 + 852 Other liabilities and accrued dividends7 2,218 - 30 - 218 Total liabilities (1,175) 715,904 + 7,286 + 65,364 Capital accounts Capital paid in 8,514 + 21 + 511 Surplus 8,380 0 + 1,108 Other capital accounts 609 + 129 - 127 Total capital 17,503 + 151 + 1,491 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, April 2, 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 6 37,761 - 7,002 0 0 25,500 19,729 16 days to 90 days 9 139,767 + 6,050 0 0 5,000 0 91 days to 1 year 0 150,962 + 1,640 10 0 . . . . . . Over 1 year to 5 years . . . 180,779 - 118 0 0 . . . . . . Over 5 years to 10 years . . . 52,293 + 6 0 0 . . . . . . Over 10 years . . . 79,911 + 7 0 0 . . . . . . All 15 641,472 + 581 10 0 30,500 19,729 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 April 2, 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 8 5 3 3 4,3 6 3 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 9 2 5 2 4 0 8 0 4 5 1 5 0 1 0 3 1 3 6 6 2 4 3 7 3 1 7 0 138 Securities, repurchase agreements, and loans 671,9 9 8 36,7 5 3 282,8 9 8 24,6 6 7 35,3 9 4 50,0 3 1 45,6 7 6 75,4 9 1 22,8 1 4 10,0 3 4 18,9 6 5 14,2 3 7 55,038 Securities held outright 641,4 8 2 36,7 5 3 252,3 9 8 24,6 6 7 35,3 9 4 50,0 3 1 45,6 7 6 75,4 9 0 22,8 1 0 10,0 2 8 18,9 6 2 14,2 3 7 55,037 U.S. Treasury1 641,4 7 2 36,7 5 3 252,3 9 4 24,6 6 6 35,3 9 3 50,0 3 0 45,6 7 5 75,4 8 9 22,8 0 9 10,0 2 8 18,9 6 2 14,2 3 6 55,036 Bills2 232,7 0 8 13,3 3 3 91,5 6 1 8,9 4 8 12,8 4 0 18,1 5 0 16,5 7 0 27,3 8 5 8,2 7 5 3,6 3 8 6,8 7 9 5,1 6 5 19,965 Notes and bonds3 408,7 6 5 23,4 2 0 160,8 3 3 15,7 1 8 22,5 5 4 31,8 8 1 29,1 0 6 48,1 0 3 14,5 3 5 6,3 9 0 12,0 8 3 9,0 7 2 35,070 Federal agency2 1 0 1 4 0 1 1 1 1 0 0 0 0 1 Repurchase agreements4 30,5 0 0 0 30,5 0 0 0 0 0 0 0 0 0 0 0 0 Loans 1 5 0 0 0 0 0 0 1 5 6 2 0 1 Items in process of collection 9,5 5 0 5 0 1 5 7 4 4 3 2 7 7 3 7 3 6 9 3 4 7 5 3 5 1 8 4 7 8 6 0 4 3 9 7 2,851 Bank premises 1,5 5 7 9 1 1 8 5 5 0 1 5 2 1 4 4 2 7 8 1 1 7 4 4 1 2 6 5 1 1 4 4 176 Other assets5 37,1 4 6 1,8 6 0 12,9 6 8 1,1 8 0 2,4 1 9 5,7 5 6 2,2 2 8 3,7 2 1 1,0 2 3 9 8 7 9 3 3 8 1 6 3,255 Interdistrict settlement account 0 - 8,3 6 0 +36,7 1 6 - 7,0 2 7 - 6,9 4 6 - 3,8 7 4 - 4,9 1 8 -18,5 5 2 - 4,0 2 9 + 3,9 6 3 - 1,8 2 9 +14,1 3 4 + 722 Total assets 734,5 8 1 31,5 4 5 338,6 1 9 19,8 9 5 32,4 6 2 53,9 0 9 45,3 9 3 62,9 5 8 20,8 4 9 15,8 4 0 19,1 7 2 30,4 8 1 63,458 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 April 2, 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 766,17 7 32,3 2 5 338,7 6 2 24,7 9 5 31,6 0 1 53,8 9 6 59,6 6 6 62,9 9 9 22,0 6 1 15,0 1 5 21,3 2 7 35,4 9 2 68,236 Less: notes held by F.R. Banks 111,81 7 4,8 7 0 28,4 6 4 7,4 4 1 4,5 4 3 8,8 8 0 20,1 6 9 7,4 7 8 3,4 5 5 1,4 0 7 4,3 8 6 7,1 6 8 13,555 Federal Reserve notes, net 654,36 0 27,4 5 5 310,2 9 8 17,3 5 4 27,0 5 8 45,0 1 6 39,4 9 8 55,5 2 1 18,6 0 6 13,6 0 8 16,9 4 1 28,3 2 4 54,681 Reverse repurchase agreements1 19,72 9 1,1 3 0 7,7 6 3 7 5 9 1,0 8 9 1,5 3 9 1,4 0 5 2,3 2 2 7 0 2 3 0 8 5 8 3 4 3 8 1,693 Deposits 30,58 3 1,1 8 8 14,9 2 1 6 2 0 2,1 1 9 2,1 6 3 2,1 7 6 2,2 8 5 6 5 7 7 6 5 6 8 4 6 7 0 2,335 Depository institutions 24,00 4 1,1 8 5 8,4 9 3 6 1 9 2,1 1 6 2,0 3 9 2,1 7 4 2,2 8 1 6 5 2 7 6 4 6 8 2 6 6 9 2,331 U.S. Treasury, general account 6,19 9 0 6,1 9 9 0 0 0 0 0 0 0 0 0 0 Foreign official 10 3 2 8 0 1 3 7 2 3 1 1 1 1 3 Other 27 7 1 1 5 0 0 0 1 1 7 0 1 5 0 1 1 0 Deferred availability cash items 10,18 8 7 2 3 1,0 3 6 5 4 8 6 3 2 7 5 2 1,1 5 0 7 9 1 3 6 9 3 8 4 4 5 4 5 8 0 2,772 Other liabilities and accrued dividends2 2,21 8 1 3 7 6 7 3 9 9 1 3 1 2 3 4 1 8 2 2 3 3 9 9 8 0 8 9 8 6 175 Total liabilities 717,07 8 30,6 3 3 334,6 9 1 19,3 8 0 31,0 2 7 49,7 0 3 44,4 1 0 61,1 5 1 20,4 3 3 15,1 4 5 18,7 5 2 30,0 9 8 61,655 Capital Capital paid in 8,51 4 4 4 4 1,8 7 8 2 5 0 7 0 0 2,0 6 9 4 7 5 8 7 4 2 0 0 3 4 5 2 0 4 1 8 9 887 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 9 3 2 2 4 1 3 3 3 2 6 3 3 3 7 5 1 7 1 0 1 5 9 48 Total liabilities and capital 734,58 1 31,5 4 5 338,6 1 9 19,8 9 5 32,4 6 2 53,9 0 9 45,3 9 3 62,9 5 8 20,8 4 9 15,8 4 0 19,1 7 2 30,4 8 1 63,458 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 Apr 2, 2003 Federal Reserve notes, net of F.R. Bank holdings 654,360 Collateral held against Federal Reserve notes 654,360 Gold certificate account 11,038 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 641,122 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities1 671,982 Less: face value of securities under reverse repurchase agreements 19,736 U.S. Treasury and agency securities eligible to be pledged 652,247 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.