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 10, 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 9, 2003 Apr 2, 2003 Apr 10, 2002 Apr 9, 2003 Reserve Bank credit 704,413 - 3,420 + 65,636 705,762 Securities held outright 643,940 + 2,629 + 67,137 645,084 U.S. Treasury1 643,930 + 2,629 + 67,137 645,074 Bills2 235,045 + 2,501 + 42,655 235,550 Notes and bonds, nominal2 394,725 + 104 + 21,941 395,354 Notes and bonds, inflation-indexed2 12,814 0 + 2,156 12,814 Inflation compensation3 1,345 + 23 + 384 1,355 Federal agency2 10 0 0 10 Repurchase agreements4 21,893 - 6,571 - 2,500 21,250 Loans to depository institutions 29 + 18 - 13 33 Primary credit 13 + 9 + 13 15 Secondary credit 0 0 0 0 Seasonal credit 16 + 9 - 26 18 Adjustment credit 0 0 - 1 0 Float -46 + 549 + 139 622 Other Federal Reserve assets 38,597 - 45 + 873 38,773 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 + 1,071 34,723 Total factors supplying reserve funds 752,379 - 3,406 + 66,707 753,728 Currency in circulation5 686,876 + 1,080 + 42,833 688,397 Reverse repurchase agreements6 20,653 + 1,362 + 20,653 20,291 Foreign official and international accounts 20,331 + 1,040 + 20,331 20,291 Dealers 321 + 321 + 321 0 Treasury cash holdings 353 - 17 - 47 357 Deposits with F.R. Banks, other than reserve balances 18,670 + 1,411 + 3,210 18,994 U.S. Treasury, general account 6,528 + 874 + 1,520 6,872 Foreign official 118 - 5 + 16 102 Service-related 11,743 + 485 + 1,671 11,743 Required clearing balances 10,820 - 152 + 1,001 10,820 Adjustments to compensate for float 923 + 638 + 670 923 Other 281 + 56 + 3 277 Other liabilities and capital 19,860 - 103 + 1,128 19,616 Total factors, other than reserve balances, absorbing reserve funds 746,412 + 3,733 + 67,778 747,654 Reserve balances with Federal Reserve Banks 5,967 - 7,139 - 1,071 6,074 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 898,566 + 1,504 . . . 898,299 U.S. Treasury 720,582 + 2,996 . . . 719,571 Federal agency 177,984 - 1,492 . . . 178,728 Securities lent to dealers 316 - 1,551 - 382 972 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 9, 2003 Apr 2, 2003 Apr 10, 2002 Assets Gold certificate account 11,038 0 - 6 Special drawing rights certificate account 2,200 0 0 Coin 1,078 - 14 + 42 Securities, repurchase agreements, and loans 666,367 - 5,631 + 65,823 Securities held outright 645,084 + 3,602 + 67,588 U.S. Treasury1 645,074 + 3,602 + 67,588 Bills2 235,550 + 2,842 + 42,473 Notes and bonds, nominal2 395,354 + 733 + 22,570 Notes and bonds, inflation-indexed2 12,814 0 + 2,156 Inflation compensation3 1,355 + 26 + 388 Federal agency2 10 0 0 Repurchase agreements4 21,250 - 9,250 - 1,750 Loans 33 + 18 - 16 Items in process of collection (1,150) 9,043 + 667 + 1,055 Bank premises 1,558 + 1 + 45 Other assets5 37,496 + 350 + 1,259 Total assets (1,150) 728,780 - 4,627 + 68,218 Liabilities Federal Reserve notes, net of F.R. Bank holdings 655,104 + 744 + 42,397 Reverse repurchase agreements6 20,291 + 562 + 20,291 Deposits (0) 25,309 - 5,274 + 3,921 Depository institutions 18,058 - 5,946 + 1,989 U.S. Treasury, general account 6,872 + 673 + 2,089 Foreign official 102 - 1 - 167 Other (0) 277 0 + 10 Deferred availability cash items (1,150) 8,460 - 554 + 588 Other liabilities and accrued dividends7 2,264 + 46 - 199 Total liabilities (1,150) 711,427 - 4,477 + 66,997 Capital accounts Capital paid in 8,521 + 7 + 514 Surplus 8,380 0 + 1,106 Other capital accounts 452 - 157 - 398 Total capital 17,352 - 151 + 1,220 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 9, 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 26 39,537 + 1,776 0 0 17,250 20,291 16 days to 90 days 8 139,581 - 186 0 0 4,000 0 91 days to 1 year 0 152,215 + 1,253 10 0 . . . . . . Over 1 year to 5 years . . . 181,519 + 740 0 0 . . . . . . Over 5 years to 10 years . . . 52,301 + 8 0 0 . . . . . . Over 10 years . . . 79,921 + 10 0 0 . . . . . . All 33 645,074 + 3,602 10 0 21,250 20,291 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 9, 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 4 9 5 4,7 0 5 3 8 0 4 7 7 8 0 8 8 6 3 9 8 2 3 3 1 2 2 4 3 0 3 5 0 7 963 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 8 5 0 3 9 8 0 4 4 1 4 7 1 0 0 1 3 6 6 2 4 2 7 1 1 6 9 136 Securities, repurchase agreements, and loans 666,3 6 7 31,1 9 1 297,2 3 7 20,1 6 8 30,2 2 7 49,6 0 9 43,5 7 9 65,1 8 7 20,3 0 2 14,4 0 7 17,3 3 9 25,2 8 2 51,839 Securities held outright 645,0 8 4 31,1 8 7 275,9 8 7 20,1 6 8 30,2 2 7 49,6 0 9 43,5 7 9 65,1 8 6 20,2 9 5 14,3 9 9 17,3 3 6 25,2 8 1 51,829 U.S. Treasury1 645,0 7 4 31,1 8 6 275,9 8 3 20,1 6 8 30,2 2 7 49,6 0 8 43,5 7 9 65,1 8 5 20,2 9 5 14,3 9 9 17,3 3 6 25,2 8 0 51,828 Bills2 235,5 5 0 11,3 8 8 100,7 7 6 7,3 6 4 11,0 3 7 18,1 1 5 15,9 1 3 23,8 0 2 7,4 1 1 5,2 5 8 6,3 3 0 9,2 3 1 18,925 Notes and bonds3 409,5 2 3 19,7 9 9 175,2 0 7 12,8 0 3 19,1 8 9 31,4 9 4 27,6 6 6 41,3 8 2 12,8 8 4 9,1 4 1 11,0 0 6 16,0 4 9 32,903 Federal agency2 1 0 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements4 21,2 5 0 0 21,2 5 0 0 0 0 0 0 0 0 0 0 0 Loans 3 3 4 0 0 0 0 0 1 7 7 3 2 10 Items in process of collection 10,1 9 3 5 2 3 7 6 4 8 0 1 7 3 6 8 1 6 7 7 4 6 3 2 4 3 0 6 4 5 5 9 1 5 8 2 2,900 Bank premises 1,5 5 8 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 37,4 9 6 1,7 3 2 13,6 7 9 1,0 7 6 2,2 9 7 5,7 5 6 2,1 9 7 3,4 9 1 9 7 0 1,1 0 1 9 0 0 1,1 0 5 3,192 Interdistrict settlement account 0 - 2,4 3 5 +17,8 5 9 - 2,6 3 2 - 2,6 6 5 - 2,3 5 7 - 3,8 4 1 - 7,6 5 8 - 1,4 5 9 - 6 8 3 - 1 6 3 + 2,7 9 7 + 3,237 Total assets 729,9 2 9 31,7 6 1 335,3 4 4 20,0 0 6 31,3 7 1 55,0 6 9 44,1 1 5 63,0 9 8 20,7 5 2 15,8 9 2 19,1 5 8 30,6 8 5 62,678 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 9, 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 764,96 5 32,2 7 0 338,2 9 3 24,6 4 7 31,6 4 5 53,9 6 4 59,3 3 9 62,9 7 4 22,0 6 5 15,0 6 7 21,3 2 2 35,3 3 6 68,043 Less: notes held by F.R. Banks 109,86 1 4,7 4 7 27,9 6 4 7,3 4 7 4,4 1 1 8,6 2 8 20,0 3 7 7,1 7 8 3,3 9 4 1,3 4 4 4,3 2 3 7,0 5 8 13,430 Federal Reserve notes, net 655,10 4 27,5 2 2 310,3 2 9 17,2 9 9 27,2 3 4 45,3 3 6 39,3 0 2 55,7 9 7 18,6 7 2 13,7 2 3 16,9 9 9 28,2 7 7 54,612 Reverse repurchase agreements1 20,29 1 9 8 1 8,6 8 1 6 3 4 9 5 1 1,5 6 0 1,3 7 1 2,0 5 0 6 3 8 4 5 3 5 4 5 7 9 5 1,630 Deposits 25,30 9 1,6 0 6 10,6 4 7 7 8 9 1,0 7 6 3,0 7 3 1,3 4 8 2,5 3 2 5 9 2 4 8 9 7 1 7 6 2 7 1,813 Depository institutions 18,05 8 1,6 0 3 3,5 3 9 7 8 7 1,0 7 3 2,9 5 5 1,3 4 6 2,5 2 9 5 8 7 4 8 7 7 1 5 6 2 6 1,810 U.S. Treasury, general account 6,87 2 0 6,8 7 2 0 0 0 0 0 0 0 0 0 0 Foreign official 10 2 2 7 9 1 3 7 2 3 1 1 1 1 3 Other 27 7 1 1 5 8 0 0 1 1 1 0 0 5 0 1 1 0 Deferred availability cash items 9,60 9 6 1 7 1,0 6 1 6 7 8 5 7 2 7 0 7 9 3 9 7 1 5 3 3 6 4 4 9 3 9 1 4 9 5 2,650 Other liabilities and accrued dividends2 2,26 4 1 3 0 7 1 3 9 4 1 2 3 2 4 8 1 8 3 2 2 2 9 7 8 6 8 6 1 0 5 176 Total liabilities 712,57 7 30,8 5 7 331,4 3 1 19,4 9 4 29,9 5 6 50,9 2 4 43,1 4 3 61,3 1 6 20,3 3 5 15,2 0 0 18,7 3 8 30,3 0 0 60,882 Capital Capital paid in 8,52 1 4 4 4 1,8 7 7 2 5 1 7 0 0 2,0 6 9 4 7 6 8 7 4 2 0 6 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 45 2 2 4 2 2 6 2 8 1 3 3 2 2 5 1 1 3 7 1 5 1 0 40 Total liabilities and capital 729,92 9 31,7 6 1 335,3 4 4 20,0 0 6 31,3 7 1 55,0 6 9 44,1 1 5 63,0 9 8 20,7 5 2 15,8 9 2 19,1 5 8 30,6 8 5 62,678 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 9, 2003 Federal Reserve notes, net of F.R. Bank holdings 655,104 Collateral held against Federal Reserve notes 655,104 Gold certificate account 11,038 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 641,865 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities1 666,334 Less: face value of securities under reverse repurchase agreements 20,299 U.S. Treasury and agency securities eligible to be pledged 646,035 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.