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 May 1, 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 30, 2003 Apr 23, 2003 May 1, 2002 Apr 30, 2003 Reserve Bank credit 715,838 + 6,160 + 68,451 724,408 Securities held outright 647,057 + 205 + 66,128 647,281 U.S. Treasury1 647,047 + 205 + 66,128 647,271 Bills2 236,035 + 180 + 43,592 236,249 Notes and bonds, nominal2 396,776 0 + 20,608 396,776 Notes and bonds, inflation-indexed2 12,814 0 + 1,549 12,814 Inflation compensation3 1,422 + 26 + 380 1,431 Federal agency2 10 0 0 10 Repurchase agreements4 28,751 + 4,858 + 1,322 37,501 Loans to depository institutions 30 + 2 - 48 35 Primary credit 0 - 4 0 0 Secondary credit 0 0 0 0 Seasonal credit 29 + 5 - 38 35 Adjustment credit 0 0 - 12 0 Float 188 + 630 + 388 -138 Other Federal Reserve assets 39,811 + 464 + 660 39,728 Gold stock 11,043 0 - 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 34,822 + 14 + 1,112 34,822 Total factors supplying reserve funds 763,903 + 6,174 + 69,562 772,473 Currency in circulation5 687,176 - 306 + 42,909 688,692 Reverse repurchase agreements6 20,949 + 397 + 20,949 20,814 Foreign official and international accounts 20,949 + 397 + 20,949 20,814 Dealers 0 0 0 0 Treasury cash holdings 350 - 10 - 43 340 Deposits with F.R. Banks, other than reserve balances 20,129 - 551 + 2,844 22,136 U.S. Treasury, general account 8,763 - 164 + 1,817 10,583 Foreign official 132 + 26 + 42 313 Service-related 11,009 - 305 + 997 11,009 Required clearing balances 10,830 0 + 960 10,830 Adjustments to compensate for float 179 - 305 + 37 179 Other 225 - 108 - 12 231 Other liabilities and capital 20,165 + 20 + 1,121 20,049 Total factors, other than reserve balances, absorbing reserve funds 748,770 - 449 + 67,781 752,031 Reserve balances with Federal Reserve Banks 15,133 + 6,622 + 1,782 20,442 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 887,022 - 6,062 . . . 893,534 U.S. Treasury 709,850 - 7,382 . . . 713,499 Federal agency 177,171 + 1,319 . . . 180,035 Securities lent to dealers 510 + 410 - 701 731 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 30, 2003 Apr 23, 2003 May 1, 2002 Assets Gold certificate account 11,039 + 1 - 5 Special drawing rights certificate account 2,200 0 0 Coin 1,021 - 22 + 39 Securities, repurchase agreements, and loans 684,817 + 13,386 + 69,350 Securities held outright 647,281 + 380 + 66,411 U.S. Treasury1 647,271 + 380 + 66,411 Bills2 236,249 + 354 + 44,233 Notes and bonds, nominal2 396,776 0 + 20,608 Notes and bonds, inflation-indexed2 12,814 0 + 1,212 Inflation compensation3 1,431 + 25 + 358 Federal agency2 10 0 0 Repurchase agreements4 37,501 + 13,001 + 3,001 Loans 35 + 5 - 61 Items in process of collection (1,166) 8,173 + 584 - 414 Bank premises 1,577 + 17 + 65 Other assets5 38,412 + 116 + 1,137 Total assets (1,166) 747,239 + 14,082 + 70,173 Liabilities Federal Reserve notes, net of F.R. Bank holdings 655,226 + 201 + 41,202 Reverse repurchase agreements6 20,814 + 823 + 20,814 Deposits (0) 43,007 + 12,638 + 7,425 Depository institutions 31,880 + 11,135 + 926 U.S. Treasury, general account 10,583 + 1,298 + 6,260 Foreign official 313 + 208 + 221 Other (0) 231 - 3 + 19 Deferred availability cash items (1,166) 8,142 + 174 - 450 Other liabilities and accrued dividends7 2,270 - 5 - 103 Total liabilities (1,166) 729,460 + 13,832 + 68,889 Capital accounts Capital paid in 8,545 + 19 + 489 Surplus 8,380 0 + 1,080 Other capital accounts 854 + 231 - 285 Total capital 17,779 + 250 + 1,284 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 30, 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 28 46,750 - 5,156 0 0 33,500 20,814 16 days to 90 days 7 126,284 - 1,662 0 0 4,001 0 91 days to 1 year 0 153,916 - 119 10 0 . . . . . . Over 1 year to 5 years . . . 188,832 + 7,299 0 0 . . . . . . Over 5 years to 10 years . . . 51,538 + 9 0 0 . . . . . . Over 10 years . . . 79,952 + 10 0 0 . . . . . . All 35 647,271 + 380 10 0 37,501 20,814 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 30, 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 4 9 5 4,7 0 6 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 2 1 5 0 3 7 7 6 4 2 1 3 6 9 4 1 2 9 5 8 4 1 6 9 1 6 2 127 Securities, repurchase agreements, and loans 684,8 1 7 31,2 9 3 314,4 2 9 20,2 3 7 30,3 3 0 49,7 7 8 43,7 3 0 65,4 1 4 20,3 7 4 14,4 6 0 17,4 0 0 25,3 6 7 52,006 Securities held outright 647,2 8 1 31,2 9 3 276,9 2 8 20,2 3 7 30,3 3 0 49,7 7 8 43,7 2 8 65,4 0 8 20,3 6 4 14,4 4 8 17,3 9 5 25,3 6 7 52,005 U.S. Treasury1 647,2 7 1 31,2 9 3 276,9 2 3 20,2 3 6 30,3 3 0 49,7 7 7 43,7 2 7 65,4 0 7 20,3 6 4 14,4 4 8 17,3 9 5 25,3 6 6 52,004 Bills2 236,2 4 9 11,4 2 2 101,0 7 5 7,3 8 6 11,0 7 0 18,1 6 8 15,9 6 0 23,8 7 3 7,4 3 3 5,2 7 3 6,3 4 9 9,2 5 9 18,981 Notes and bonds3 411,0 2 2 19,8 7 1 175,8 4 8 12,8 5 0 19,2 5 9 31,6 0 9 27,7 6 7 41,5 3 4 12,9 3 1 9,1 7 5 11,0 4 6 16,1 0 8 33,023 Federal agency2 1 0 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements4 37,5 0 1 0 37,5 0 1 0 0 0 0 0 0 0 0 0 0 Loans 3 5 0 0 0 0 0 2 6 1 0 1 2 4 0 1 Items in process of collection 9,3 3 9 4 2 8 5 5 6 4 6 5 4 6 5 7 3 3 7 3 0 7 2 1 4 4 5 4 7 2 6 7 5 9 0 6 2,743 Bank premises 1,5 7 7 9 1 1 8 5 5 1 1 5 1 1 4 3 2 7 8 1 1 7 4 3 1 2 6 5 1 1 6 4 176 Other assets5 38,4 1 2 1,7 7 9 13,9 8 6 1,1 0 5 2,3 5 8 5,9 1 5 2,2 4 9 3,5 8 3 9 9 9 1,1 3 0 9 2 1 1,1 1 2 3,274 Interdistrict settlement account 0 - 1,6 0 0 +12,1 3 4 - 2,3 7 1 - 1,9 4 5 - 1,2 6 6 - 2,8 4 3 - 7,7 8 1 - 1,0 2 8 - 2 8 0 - 1 5 8 + 2,6 3 8 + 4,500 Total assets 748,4 0 5 32,6 5 2 346,9 0 5 20,0 2 6 31,9 8 3 56,3 9 5 45,2 6 7 63,3 7 7 21,2 9 5 16,2 0 3 19,3 2 8 30,9 5 2 64,024 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 30, 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 762,03 4 31,9 6 2 336,2 2 0 24,3 3 6 31,3 5 5 53,8 7 5 59,7 0 8 62,5 7 6 22,3 1 1 15,2 5 5 21,2 3 2 35,2 2 8 67,974 Less: notes held by F.R. Banks 106,80 7 4,6 7 9 26,3 5 0 7,3 9 9 4,2 3 8 8,2 0 1 20,1 2 2 6,6 3 2 3,5 2 7 1,4 7 8 4,2 0 8 7,0 0 5 12,968 Federal Reserve notes, net 655,22 6 27,2 8 3 309,8 7 0 16,9 3 7 27,1 1 8 45,6 7 4 39,5 8 6 55,9 4 5 18,7 8 4 13,7 7 7 17,0 2 3 28,2 2 3 55,006 Reverse repurchase agreements1 20,81 4 1,0 0 6 8,9 0 5 6 5 1 9 7 5 1,6 0 1 1,4 0 6 2,1 0 3 6 5 5 4 6 5 5 5 9 8 1 6 1,672 Deposits 43,00 7 2,6 8 0 22,4 5 3 1,3 0 9 1,7 7 2 3,9 0 0 2,1 2 3 2,6 0 4 1,0 1 2 7 4 5 7 9 2 9 1 6 2,700 Depository institutions 31,88 0 2,6 7 2 11,4 2 7 1,3 0 7 1,7 6 9 3,8 3 0 2,1 2 1 2,6 0 0 1,0 0 8 7 4 3 7 9 0 9 1 5 2,697 U.S. Treasury, general account 10,58 3 0 10,5 8 3 0 0 0 0 0 0 0 0 0 0 Foreign official 31 3 2 2 8 9 1 3 7 2 3 1 1 1 1 3 Other 23 1 7 1 5 3 1 0 6 2 0 1 4 0 1 0 0 Deferred availability cash items 9,30 8 6 2 6 9 4 8 5 1 4 5 4 6 7 2 5 9 7 6 6 8 0 3 0 5 4 2 1 4 4 3 4 9 3 2,630 Other liabilities and accrued dividends2 2,27 0 1 2 9 7 1 2 9 4 1 2 7 2 5 9 1 8 0 2 2 2 9 6 8 7 8 6 1 0 4 173 Total liabilities 730,62 6 31,7 2 5 342,8 8 8 19,5 0 5 30,5 3 8 52,1 5 9 44,2 7 2 61,5 5 4 20,8 5 3 15,4 9 5 18,9 0 4 30,5 5 2 62,181 Capital Capital paid in 8,54 5 4 4 6 1,8 7 7 2 5 1 7 0 0 2,0 7 0 4 7 5 8 7 5 2 1 7 3 4 5 2 0 4 1 8 9 896 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 85 4 4 4 3 3 1 3 7 4 2 9 3 4 4 9 1 2 6 2 4 1 8 2 4 80 Total liabilities and capital 748,40 5 32,6 5 2 346,9 0 5 20,0 2 6 31,9 8 3 56,3 9 5 45,2 6 7 63,3 7 7 21,2 9 5 16,2 0 3 19,3 2 8 30,9 5 2 64,024 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 30, 2003 Federal Reserve notes outstanding 762,034 Less: Notes held by F.R. Banks not subject to collateralization 102,753 Federal Reserve notes to be collateralized 659,280 Collateral held against Federal Reserve notes 659,280 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 646,042 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities1 684,782 Less: face value of securities under reverse repurchase agreements 20,821 U.S. Treasury and agency securities eligible to be pledged 663,961 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.