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 24, 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 23, 2003 Apr 16, 2003 Apr 24, 2002 Apr 23, 2003 Reserve Bank credit 709,678 - 1,611 + 69,285 710,210 Securities held outright 646,852 + 1,183 + 66,576 646,901 U.S. Treasury1 646,842 + 1,183 + 66,576 646,891 Bills2 235,855 + 142 + 42,626 235,895 Notes and bonds, nominal2 396,776 + 1,016 + 21,890 396,776 Notes and bonds, inflation-indexed2 12,814 0 + 1,684 12,814 Inflation compensation3 1,396 + 25 + 375 1,406 Federal agency2 10 0 0 10 Repurchase agreements4 23,893 - 2,928 + 1,929 24,500 Loans to depository institutions 28 - 8 - 36 30 Primary credit 4 - 12 + 4 3 Secondary credit 0 0 0 0 Seasonal credit 24 + 4 - 32 27 Adjustment credit 0 0 - 8 0 Float -441 - 158 + 92 -721 Other Federal Reserve assets 39,347 + 301 + 726 39,500 Gold stock 11,043 0 - 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 34,808 + 14 + 1,117 34,808 Total factors supplying reserve funds 757,729 - 1,597 + 70,401 758,261 Currency in circulation5 687,482 - 102 + 43,973 688,443 Reverse repurchase agreements6 20,552 - 193 + 20,552 19,991 Foreign official and international accounts 20,552 - 193 + 20,552 19,991 Dealers 0 0 0 0 Treasury cash holdings 360 + 3 - 39 352 Deposits with F.R. Banks, other than reserve balances 20,680 + 2,869 + 3,242 20,938 U.S. Treasury, general account 8,927 + 2,457 + 1,933 9,285 Foreign official 106 - 14 + 24 105 Service-related 11,314 + 335 + 1,184 11,314 Required clearing balances 10,830 + 10 + 962 10,830 Adjustments to compensate for float 484 + 324 + 223 484 Other 333 + 92 + 101 234 Other liabilities and capital 20,145 + 204 + 1,287 19,804 Total factors, other than reserve balances, absorbing reserve funds 749,219 + 2,780 + 69,015 749,528 Reserve balances with Federal Reserve Banks 8,511 - 4,376 + 1,387 8,734 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 893,084 - 5,114 . . . 888,763 U.S. Treasury 717,232 - 2,824 . . . 713,171 Federal agency 175,852 - 2,291 . . . 175,591 Securities lent to dealers 100 - 350 - 339 219 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 23, 2003 Apr 16, 2003 Apr 24, 2002 Assets Gold certificate account 11,038 0 - 6 Special drawing rights certificate account 2,200 0 0 Coin 1,043 - 13 + 44 Securities, repurchase agreements, and loans 671,431 - 13,410 + 68,317 Securities held outright 646,901 + 106 + 64,853 U.S. Treasury1 646,891 + 106 + 64,853 Bills2 235,895 + 81 + 42,182 Notes and bonds, nominal2 396,776 0 + 20,608 Notes and bonds, inflation-indexed2 12,814 0 + 1,684 Inflation compensation3 1,406 + 26 + 380 Federal agency2 10 0 0 Repurchase agreements4 24,500 - 13,500 + 3,500 Loans 30 - 16 - 36 Items in process of collection (1,259) 7,589 - 695 + 196 Bank premises 1,560 + 1 + 45 Other assets5 38,296 + 494 + 1,104 Total assets (1,259) 733,157 - 13,624 + 69,700 Liabilities Federal Reserve notes, net of F.R. Bank holdings 655,025 - 487 + 42,588 Reverse repurchase agreements6 19,991 + 190 + 19,991 Deposits (0) 30,369 - 12,426 + 5,701 Depository institutions 20,745 - 12,892 + 2,639 U.S. Treasury, general account 9,285 + 464 + 3,030 Foreign official 105 + 4 + 29 Other (0) 234 - 2 + 3 Deferred availability cash items (1,259) 7,968 - 835 + 304 Other liabilities and accrued dividends7 2,275 + 36 - 148 Total liabilities (1,259) 715,628 - 13,521 + 68,437 Capital accounts Capital paid in 8,526 + 4 + 470 Surplus 8,380 0 + 1,090 Other capital accounts 623 - 106 - 297 Total capital 17,529 - 103 + 1,263 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 23, 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 29 51,906 + 2,243 0 0 20,500 19,991 16 days to 90 days 1 127,946 - 1,836 0 0 4,000 0 91 days to 1 year 0 154,035 + 462 10 0 . . . . . . Over 1 year to 5 years . . . 181,533 + 7 0 0 . . . . . . Over 5 years to 10 years . . . 51,529 - 780 0 0 . . . . . . Over 10 years . . . 79,942 + 10 0 0 . . . . . . All 30 646,891 + 106 10 0 24,500 19,991 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 23, 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 4 3 5 1 3 9 7 6 4 3 1 3 9 9 7 1 3 2 5 9 4 2 7 1 1 6 4 130 Securities, repurchase agreements, and loans 671,4 3 1 31,2 7 7 301,2 6 5 20,2 2 5 30,3 1 2 49,7 4 9 43,7 0 4 65,3 7 1 20,3 6 2 14,4 5 0 17,3 8 9 25,3 5 2 51,975 Securities held outright 646,9 0 1 31,2 7 5 276,7 6 5 20,2 2 5 30,3 1 2 49,7 4 9 43,7 0 2 65,3 7 0 20,3 5 2 14,4 4 0 17,3 8 5 25,3 5 2 51,975 U.S. Treasury1 646,8 9 1 31,2 7 4 276,7 6 1 20,2 2 4 30,3 1 2 49,7 4 8 43,7 0 1 65,3 6 9 20,3 5 2 14,4 4 0 17,3 8 5 25,3 5 1 51,974 Bills2 235,8 9 5 11,4 0 4 100,9 2 3 7,3 7 5 11,0 5 3 18,1 4 1 15,9 3 6 23,8 3 7 7,4 2 2 5,2 6 6 6,3 4 0 9,2 4 5 18,953 Notes and bonds3 410,9 9 6 19,8 7 0 175,8 3 7 12,8 4 9 19,2 5 8 31,6 0 7 27,7 6 5 41,5 3 1 12,9 3 0 9,1 7 4 11,0 4 5 16,1 0 7 33,021 Federal agency2 1 0 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements4 24,5 0 0 0 24,5 0 0 0 0 0 0 0 0 0 0 0 0 Loans 3 0 2 0 0 0 0 2 2 9 1 0 4 0 1 Items in process of collection 8,8 4 8 4 4 5 5 4 0 4 5 1 2 6 1 5 6 6 6 9 1 1,2 1 5 4 7 6 4 7 0 4 5 2 5 3 3 2,745 Bank premises 1,5 6 0 9 1 1 8 6 5 1 1 5 2 1 4 4 2 7 8 1 1 7 4 4 1 2 6 5 1 1 4 4 177 Other assets5 38,2 9 6 1,8 4 8 13,9 4 8 1,1 0 0 2,3 3 6 5,8 5 0 2,2 3 7 3,5 5 8 9 9 4 1,1 2 0 9 1 7 1,1 2 9 3,257 Interdistrict settlement account 0 - 3,4 3 9 +15,5 5 6 - 2,6 3 4 - 2,1 0 4 - 2,8 4 7 - 3,7 4 6 - 4,6 9 1 - 1,5 5 5 - 7 6 2 - 2 2 9 + 2,8 0 4 + 3,647 Total assets 734,4 1 6 30,8 8 5 337,1 1 3 19,7 3 2 31,5 8 1 54,5 5 5 44,2 9 1 66,8 9 6 20,7 8 2 15,7 0 0 19,0 2 1 30,7 3 2 63,128 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 23, 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 763,14 1 32,2 0 0 337,4 0 1 24,3 4 8 31,5 0 6 54,1 0 2 59,1 4 5 62,9 9 9 22,2 1 3 15,1 2 9 21,2 0 6 35,1 3 2 67,759 Less: notes held by F.R. Banks 108,11 6 4,7 1 5 26,6 9 5 7,3 5 9 4,3 8 5 8,4 3 6 20,0 7 1 6,8 9 9 3,5 7 3 1,4 4 0 4,2 8 6 7,0 3 6 13,222 Federal Reserve notes, net 655,02 5 27,4 8 5 310,7 0 6 16,9 8 9 27,1 2 1 45,6 6 6 39,0 7 4 56,1 0 1 18,6 4 0 13,6 8 9 16,9 2 1 28,0 9 7 54,537 Reverse repurchase agreements1 19,99 1 9 6 6 8,5 5 3 6 2 5 9 3 7 1,5 3 7 1,3 5 1 2,0 2 0 6 2 9 4 4 6 5 3 7 7 8 3 1,606 Deposits 30,36 9 7 7 7 12,2 9 3 1,0 1 9 1,3 8 8 2,2 4 4 1,6 9 0 6,0 6 8 6 4 5 4 4 2 6 5 5 7 5 0 2,399 Depository institutions 20,74 5 7 6 7 2,7 7 7 1,0 1 6 1,3 8 4 2,1 7 2 1,6 8 8 6,0 5 6 6 4 0 4 4 0 6 5 3 7 4 9 2,404 U.S. Treasury, general account 9,28 5 0 9,2 8 5 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 4 9 1 5 0 2 1 6 4 0 9 4 0 1 1 -8 Deferred availability cash items 9,22 7 6 1 5 8 9 3 4 9 0 5 8 6 6 5 8 1,0 1 1 6 9 1 3 4 7 3 3 9 4 0 2 6 0 1 2,596 Other liabilities and accrued dividends2 2,27 5 1 3 2 7 0 8 9 4 1 2 3 2 6 1 1 8 3 2 2 1 9 7 8 4 8 7 1 0 6 177 Total liabilities 716,88 7 29,9 7 4 333,1 5 3 19,2 1 7 30,1 5 5 50,3 6 6 43,3 0 9 65,1 0 1 20,3 5 8 15,0 0 0 18,6 0 2 30,3 3 6 61,316 Capital Capital paid in 8,52 6 4 4 6 1,8 7 7 2 5 1 7 0 0 2,0 7 0 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 62 3 2 8 2 7 5 3 2 2 4 4 7 3 0 6 3 1 8 1 6 1 4 2 0 57 Total liabilities and capital 734,41 6 30,8 8 5 337,1 1 3 19,7 3 2 31,5 8 1 54,5 5 5 44,2 9 1 66,8 9 6 20,7 8 2 15,7 0 0 19,0 2 1 30,7 3 2 63,128 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 23, 2003 Federal Reserve notes, net of F.R. Bank holdings 655,025 Collateral held against Federal Reserve notes 655,025 Gold certificate account 11,038 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 641,787 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities1 671,401 Less: face value of securities under reverse repurchase agreements 19,997 U.S. Treasury and agency securities eligible to be pledged 651,404 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.