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 17, 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 16, 2003 Apr 9, 2003 Apr 17, 2002 Apr 16, 2003 Reserve Bank credit 711,299 + 6,886 + 67,312 723,333 Securities held outright 645,669 + 1,729 + 67,327 646,795 U.S. Treasury1 645,659 + 1,729 + 67,327 646,785 Bills2 235,713 + 668 + 43,012 235,814 Notes and bonds, nominal2 395,760 + 1,035 + 22,269 396,776 Notes and bonds, inflation-indexed2 12,814 0 + 1,684 12,814 Inflation compensation3 1,371 + 26 + 361 1,380 Federal agency2 10 0 0 10 Repurchase agreements4 26,821 + 4,928 - 1,379 38,000 Loans to depository institutions 36 + 7 - 16 46 Primary credit 16 + 3 + 16 23 Secondary credit 0 0 0 0 Seasonal credit 20 + 4 - 28 23 Adjustment credit 0 0 - 4 0 Float -273 - 227 + 451 -614 Other Federal Reserve assets 39,046 + 449 + 929 39,106 Gold stock 11,043 0 - 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 34,794 + 14 + 1,123 34,794 Total factors supplying reserve funds 759,336 + 6,900 + 68,434 771,370 Currency in circulation5 687,584 + 650 + 43,748 688,893 Reverse repurchase agreements6 20,745 + 92 + 20,745 19,801 Foreign official and international accounts 20,745 + 414 + 20,745 19,801 Dealers 0 - 321 0 0 Treasury cash holdings 357 + 4 - 46 361 Deposits with F.R. Banks, other than reserve balances 17,811 - 859 + 1,443 20,137 U.S. Treasury, general account 6,470 - 58 + 513 8,821 Foreign official 120 + 2 + 4 101 Service-related 10,979 - 764 + 926 10,979 Required clearing balances 10,820 0 + 1,001 10,820 Adjustments to compensate for float 160 - 763 - 73 160 Other 241 - 40 - 1 236 Other liabilities and capital 19,941 + 81 + 1,205 19,871 Total factors, other than reserve balances, absorbing reserve funds 746,439 - 30 + 67,096 749,063 Reserve balances with Federal Reserve Banks 12,897 + 6,930 + 1,339 22,308 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 898,198 - 368 . . . 892,976 U.S. Treasury 720,056 - 526 . . . 717,312 Federal agency 178,143 + 159 . . . 175,665 Securities lent to dealers 450 + 134 - 165 824 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 16, 2003 Apr 9, 2003 Apr 17, 2002 Assets Gold certificate account 11,038 0 - 6 Special drawing rights certificate account 2,200 0 0 Coin 1,056 - 22 + 38 Securities, repurchase agreements, and loans 684,841 + 18,474 + 77,535 Securities held outright 646,795 + 1,711 + 66,739 U.S. Treasury1 646,785 + 1,711 + 66,739 Bills2 235,814 + 264 + 42,013 Notes and bonds, nominal2 396,776 + 1,422 + 22,677 Notes and bonds, inflation-indexed2 12,814 0 + 1,684 Inflation compensation3 1,380 + 25 + 365 Federal agency2 10 0 0 Repurchase agreements4 38,000 + 16,750 + 10,800 Loans 46 + 13 - 5 Items in process of collection (1,224) 8,284 - 759 + 419 Bank premises 1,559 + 1 + 45 Other assets5 37,802 + 306 + 1,220 Total assets (1,224) 746,781 + 18,001 + 79,252 Liabilities Federal Reserve notes, net of F.R. Bank holdings 655,512 + 408 + 43,042 Reverse repurchase agreements6 19,801 - 490 + 19,801 Deposits (-1) 42,795 + 17,486 + 14,757 Depository institutions 33,637 + 15,579 + 13,646 U.S. Treasury, general account 8,821 + 1,949 + 1,081 Foreign official 101 - 1 + 25 Other (-1) 236 - 41 + 5 Deferred availability cash items (1,225) 8,803 + 343 + 340 Other liabilities and accrued dividends7 2,239 - 25 - 154 Total liabilities (1,224) 729,149 + 17,722 + 77,785 Capital accounts Capital paid in 8,522 + 1 + 517 Surplus 8,380 0 + 1,098 Other capital accounts 729 + 277 - 149 Total capital 17,632 + 280 + 1,467 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 16, 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 45 49,663 + 10,126 0 0 34,000 19,801 16 days to 90 days 1 129,782 - 9,799 0 0 4,000 0 91 days to 1 year 0 153,573 + 1,358 10 0 . . . . . . Over 1 year to 5 years . . . 181,526 + 7 0 0 . . . . . . Over 5 years to 10 years . . . 52,309 + 8 0 0 . . . . . . Over 10 years . . . 79,932 + 11 0 0 . . . . . . All 46 646,785 + 1,711 10 0 38,000 19,801 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 16, 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 5 6 5 0 3 9 7 7 4 2 1 4 0 9 8 1 3 4 6 1 4 2 7 2 1 6 7 132 Securities, repurchase agreements, and loans 684,8 4 1 31,2 7 0 314,7 2 0 20,2 2 1 30,3 0 7 49,7 4 1 43,7 1 8 65,3 6 0 20,3 5 7 14,4 4 8 17,3 8 6 25,3 4 8 51,966 Securities held outright 646,7 9 5 31,2 7 0 276,7 2 0 20,2 2 1 30,3 0 7 49,7 4 1 43,6 9 5 65,3 5 9 20,3 4 9 14,4 3 7 17,3 8 2 25,3 4 8 51,966 U.S. Treasury1 646,7 8 5 31,2 6 9 276,7 1 5 20,2 2 1 30,3 0 7 49,7 4 0 43,6 9 4 65,3 5 8 20,3 4 9 14,4 3 7 17,3 8 2 25,3 4 7 51,965 Bills2 235,8 1 4 11,4 0 1 100,8 8 9 7,3 7 3 11,0 5 0 18,1 3 5 15,9 3 1 23,8 2 9 7,4 1 9 5,2 6 4 6,3 3 7 9,2 4 1 18,946 Notes and bonds3 410,9 7 1 19,8 6 9 175,8 2 6 12,8 4 9 19,2 5 7 31,6 0 5 27,7 6 4 41,5 2 9 12,9 3 0 9,1 7 3 11,0 4 5 16,1 0 6 33,019 Federal agency2 1 0 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements4 38,0 0 0 0 38,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 4 6 0 0 0 0 0 2 3 1 8 1 0 4 0 0 Items in process of collection 9,5 0 9 4 6 3 6 6 7 5 0 9 3 8 9 7 0 0 7 6 2 7 2 0 4 5 6 4 7 9 7 1 3 5 4 1 3,110 Bank premises 1,5 5 9 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 37,8 0 2 1,7 8 6 13,7 7 1 1,0 8 4 2,3 1 2 5,8 0 7 2,2 0 5 3,5 1 3 9 8 0 1,1 1 0 9 0 5 1,1 1 2 3,216 Interdistrict settlement account 0 - 2,3 0 2 +10,2 3 2 - 2,5 6 5 - 8 7 6 + 7 7 9 - 2,9 2 0 - 7,3 0 3 - 7 9 7 - 6 0 7 - 4 + 2,8 3 9 + 3,525 Total assets 748,0 0 5 31,9 6 9 345,1 9 3 19,8 4 0 32,9 0 7 58,2 6 4 45,1 7 0 63,7 3 5 21,5 0 3 15,8 5 2 19,4 9 2 30,7 5 6 63,323 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 16, 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 763,91 8 32,2 3 4 337,7 9 2 24,5 0 1 31,5 7 5 54,0 5 0 59,1 4 7 63,0 0 2 22,1 2 1 15,0 4 3 21,2 6 5 35,2 3 7 67,952 Less: notes held by F.R. Banks 108,40 6 4,7 5 8 27,1 0 7 7,2 7 7 4,3 5 0 8,5 1 9 19,9 9 6 6,9 9 5 3,4 5 4 1,3 8 0 4,2 4 1 7,0 3 2 13,296 Federal Reserve notes, net 655,51 2 27,4 7 6 310,6 8 5 17,2 2 4 27,2 2 5 45,5 3 0 39,1 5 1 56,0 0 7 18,6 6 7 13,6 6 2 17,0 2 4 28,2 0 5 54,655 Reverse repurchase agreements1 19,80 1 9 5 7 8,4 7 1 6 1 9 9 2 8 1,5 2 3 1,3 3 8 2,0 0 1 6 2 3 4 4 2 5 3 2 7 7 6 1,591 Deposits 42,79 4 1,8 4 6 20,3 1 0 8 4 3 2,7 0 8 6,0 0 0 2,4 7 4 2,9 7 0 1,3 4 9 5 7 5 8 5 0 6 6 7 2,202 Depository institutions 33,63 7 1,8 4 3 11,2 5 7 8 4 2 2,7 0 4 5,9 2 3 2,4 7 3 2,9 6 6 1,3 4 4 5 7 4 8 4 8 6 6 5 2,199 U.S. Treasury, general account 8,82 1 0 8,8 2 1 0 0 0 0 0 0 0 0 0 0 Foreign official 10 1 2 7 7 1 3 7 2 3 1 1 1 1 3 Other 23 5 2 1 5 4 0 2 7 0 - 1 1 4 0 1 1 0 Deferred availability cash items 10,02 8 6 4 7 1,0 4 3 5 4 2 4 8 9 7 5 5 1,0 3 8 7 3 4 3 3 6 3 7 9 5 7 9 6 0 6 2,878 Other liabilities and accrued dividends2 2,23 9 1 2 7 7 0 4 9 2 1 2 4 2 4 5 1 8 0 2 1 9 9 6 8 9 8 5 1 0 5 174 Total liabilities 730,37 4 31,0 5 4 341,2 1 3 19,3 2 0 31,4 7 4 54,0 5 4 44,1 8 0 61,9 3 0 21,0 7 1 15,1 4 8 19,0 7 0 30,3 5 8 61,501 Capital Capital paid in 8,52 2 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 72 9 3 4 2 9 4 3 6 3 0 6 9 3 9 7 4 2 7 2 0 1 7 2 2 67 Total liabilities and capital 748,00 5 31,9 6 9 345,1 9 3 19,8 4 0 32,9 0 7 58,2 6 4 45,1 7 0 63,7 3 5 21,5 0 3 15,8 5 2 19,4 9 2 30,7 5 6 63,323 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 16, 2003 Federal Reserve notes, net of F.R. Bank holdings 655,512 Collateral held against Federal Reserve notes 655,512 Gold certificate account 11,038 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 642,274 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities1 684,795 Less: face value of securities under reverse repurchase agreements 19,807 U.S. Treasury and agency securities eligible to be pledged 664,988 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.