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 August 14, 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 Aug 13, 2003 Aug 6, 2003 Aug 14, 2002 Aug 13, 2003 Reserve Bank credit 711,825 - 4,153 + 58,365 715,474 Securities held outright 653,072 + 76 + 52,845 653,288 U.S. Treasury1 653,062 + 76 + 52,845 653,278 Bills2 239,927 + 72 + 38,118 240,142 Notes and bonds, nominal2 398,853 0 + 13,840 398,853 Notes and bonds, inflation-indexed2 12,814 0 + 572 12,814 Inflation compensation3 1,467 + 3 + 314 1,469 Federal agency2 10 0 0 10 Repurchase agreements4 17,679 - 4,821 + 4,358 19,000 Loans to depository institutions 145 - 9 - 51 164 Primary credit 7 - 14 + 7 16 Secondary credit 0 0 0 0 Seasonal credit 138 + 5 - 43 148 Adjustment credit 0 0 - 15 0 Float 596 + 124 + 1,310 2,584 Other Federal Reserve assets 40,334 + 478 - 95 40,438 Gold stock 11,043 0 + 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 35,116 + 14 + 1,020 35,116 Total factors supplying reserve funds 760,184 - 4,139 + 59,386 763,833 Currency in circulation5 694,937 + 675 + 34,044 695,887 Reverse repurchase agreements6 19,563 + 617 + 19,563 19,138 Foreign official and international accounts 19,563 + 617 + 19,563 19,138 Dealers 0 0 0 0 Treasury cash holdings 369 + 4 - 12 358 Deposits with F.R. Banks, other than reserve balances 17,205 - 193 + 1,877 17,683 U.S. Treasury, general account 5,611 - 28 + 715 5,720 Foreign official 149 - 28 + 73 525 Service-related 11,158 - 129 + 1,003 11,158 Required clearing balances 10,913 + 15 + 994 10,913 Adjustments to compensate for float 245 - 145 + 9 245 Other 287 - 7 + 86 281 Other liabilities and capital 20,190 + 340 + 718 20,043 Total factors, other than reserve balances, absorbing reserve funds 752,264 + 1,443 + 56,191 753,110 Reserve balances with Federal Reserve Banks 7,920 - 5,582 + 3,195 10,723 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 939,784 + 3,206 . . . 937,857 U.S. Treasury 753,537 + 937 . . . 751,156 Federal agency 186,246 + 2,268 . . . 186,701 Securities lent to dealers 2,131 - 634 + 444 2,689 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 Aug 13, 2003 Aug 6, 2003 Aug 14, 2002 Assets Gold certificate account 11,039 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 888 + 18 - 112 Securities, repurchase agreements, and loans 672,451 + 1,024 + 55,785 Securities held outright 653,288 + 254 + 52,906 U.S. Treasury1 653,278 + 254 + 52,906 Bills2 240,142 + 250 + 38,180 Notes and bonds, nominal2 398,853 0 + 13,840 Notes and bonds, inflation-indexed2 12,814 0 + 572 Inflation compensation3 1,469 + 4 + 315 Federal agency2 10 0 0 Repurchase agreements4 19,000 + 750 + 3,000 Loans 164 + 21 - 121 Items in process of collection (1,226) 9,284 - 53 + 2,665 Bank premises 1,587 + 1 + 66 Other assets5 38,805 + 374 - 533 Total assets (1,226) 736,255 + 1,364 + 57,873 Liabilities Federal Reserve notes, net of F.R. Bank holdings 662,014 - 212 + 32,912 Reverse repurchase agreements6 19,138 + 76 + 19,138 Deposits (0) 27,215 + 2,027 + 4,795 Depository institutions 20,690 + 2,350 + 3,732 U.S. Treasury, general account 5,720 - 680 + 529 Foreign official 525 + 384 + 446 Other (0) 281 - 26 + 89 Deferred availability cash items (1,226) 7,844 - 699 + 695 Other liabilities and accrued dividends7 2,159 + 34 - 241 Total liabilities (1,226) 718,370 + 1,226 + 57,298 Capital accounts Capital paid in 8,724 + 3 + 437 Surplus 8,380 0 + 1,068 Other capital accounts 780 + 134 - 933 Total capital 17,884 + 137 + 573 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, August 13, 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 40 52,151 + 870 0 0 14,000 19,138 16 days to 90 days 123 136,584 - 785 0 0 5,000 0 91 days to 1 year 0 162,065 + 165 10 0 . . . . . . Over 1 year to 5 years . . . 177,685 + 1 0 0 . . . . . . Over 5 years to 10 years . . . 44,825 + 1 0 0 . . . . . . Over 10 years . . . 79,967 + 1 0 0 . . . . . . All 164 653,278 + 254 10 0 19,000 19,138 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 August 13, 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 8 8 8 3 3 3 3 4 6 3 9 1 1 1 1 1 4 1 1 4 6 1 3 3 5 9 1 5 1 94 Securities, repurchase agreements, and loans 672,4 5 1 31,5 8 4 298,5 0 2 20,4 2 5 30,6 1 1 50,2 4 0 44,1 4 9 66,0 4 9 20,5 7 7 14,6 3 8 17,5 7 1 25,6 0 4 52,501 Securities held outright 653,2 8 8 31,5 8 4 279,4 9 7 20,4 2 4 30,6 1 1 50,2 4 0 44,1 3 4 66,0 1 5 20,5 5 3 14,5 8 2 17,5 5 7 25,6 0 2 52,488 U.S. Treasury1 653,2 7 8 31,5 8 3 279,4 9 3 20,4 2 4 30,6 1 1 50,2 3 9 44,1 3 3 66,0 1 4 20,5 5 3 14,5 8 2 17,5 5 6 25,6 0 2 52,487 Bills2 240,1 4 2 11,6 1 0 102,7 4 0 7,5 0 8 11,2 5 2 18,4 6 8 16,2 2 3 24,2 6 6 7,5 5 5 5,3 6 0 6,4 5 4 9,4 1 1 19,294 Notes and bonds3 413,1 3 6 19,9 7 3 176,7 5 3 12,9 1 6 19,3 5 9 31,7 7 1 27,9 1 0 41,7 4 8 12,9 9 8 9,2 2 2 11,1 0 3 16,1 9 1 33,193 Federal agency2 1 0 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements4 19,0 0 0 0 19,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 1 6 4 0 5 0 0 0 1 6 3 4 2 4 5 6 1 4 2 13 Items in process of collection 10,5 1 0 7 1 7 7 1 3 4 7 7 4 5 0 9 7 4 1,3 2 6 8 4 5 4 7 9 3 3 7 6 8 2 5 2 0 2,990 Bank premises 1,5 8 7 9 1 1 8 6 5 2 1 5 2 1 4 3 2 7 8 1 1 9 4 3 1 2 6 5 4 1 6 8 176 Other assets5 38,8 0 5 1,7 9 4 14,1 3 5 1,0 8 1 2,3 8 8 5,9 8 2 2,2 7 7 3,6 1 7 1,0 0 9 1,1 4 7 9 3 5 1,1 2 9 3,311 Interdistrict settlement account 0 - 4,3 8 0 +16,8 8 1 - 1,7 0 2 - 1,9 1 7 - 1,9 7 9 - 1,1 4 1 - 7,5 4 0 - 1,5 3 1 - 3 5 9 - 8 7 7 + 2,2 9 9 + 2,246 Total assets 737,4 8 1 30,4 4 8 336,0 3 0 20,8 4 3 32,3 0 4 56,4 2 5 48,0 3 2 64,3 9 8 21,0 4 1 16,1 7 6 18,7 9 3 30,4 7 6 62,514 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 August 13, 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 777,98 2 31,5 6 6 333,8 2 0 25,7 1 6 31,8 8 7 58,5 7 7 63,5 0 9 67,0 8 4 23,5 8 2 15,5 4 8 21,3 3 2 35,4 2 3 69,938 Less: notes held by F.R. Banks 115,96 8 5,0 9 3 23,5 1 9 7,8 8 1 5,2 9 3 10,2 3 0 20,3 5 5 9,5 7 6 4,5 8 2 1,6 2 1 4,8 0 7 7,4 9 8 15,513 Federal Reserve notes, net 662,01 4 26,4 7 3 310,3 0 2 17,8 3 4 26,5 9 4 48,3 4 7 43,1 5 4 57,5 0 8 19,0 0 1 13,9 2 7 16,5 2 5 27,9 2 5 54,425 Reverse repurchase agreements1 19,13 8 9 2 5 8,1 8 8 5 9 8 8 9 7 1,4 7 2 1,2 9 3 1,9 3 4 6 0 2 4 2 7 5 1 4 7 5 0 1,538 Deposits 27,21 5 1,4 2 0 11,7 3 9 1,2 5 9 2,7 6 3 1,5 2 7 1,4 7 8 2,2 0 2 6 0 5 4 7 0 7 5 7 7 9 8 2,195 Depository institutions 20,69 0 1,4 1 8 5,3 6 0 1,2 5 8 2,7 6 0 1,4 0 5 1,4 7 4 2,1 9 9 6 0 4 4 6 9 7 5 5 7 9 7 2,192 U.S. Treasury, general account 5,72 0 0 5,7 2 0 0 0 0 0 0 0 0 0 0 0 Foreign official 52 5 2 5 0 1 1 3 7 2 3 1 1 1 1 3 Other 28 1 1 1 5 9 0 1 1 1 5 2 0 1 0 1 1 0 Deferred availability cash items 9,07 0 5 9 4 1,0 4 7 5 4 2 4 9 6 6 4 3 9 4 6 6 6 4 2 7 0 5 6 2 5 0 3 5 0 8 2,296 Other liabilities and accrued dividends2 2,15 9 1 2 3 6 6 8 9 1 1 1 5 2 2 3 1 8 0 2 1 7 9 5 8 6 8 7 1 0 8 164 Total liabilities 719,59 7 29,5 3 5 331,9 4 4 20,3 2 5 30,8 6 5 52,2 1 3 47,0 5 1 62,5 2 5 20,5 7 3 15,4 7 2 18,3 8 6 30,0 9 0 60,619 Capital Capital paid in 8,72 4 4 4 6 1,9 5 2 2 5 3 7 1 0 2,0 8 9 4 7 7 9 1 5 2 2 8 3 4 8 1 9 3 1 8 3 931 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 78 0 3 0 3 2 6 3 2 2 7 5 1 2 9 1 0 0 4 1 1 8 1 3 1 6 97 Total liabilities and capital 737,48 1 30,4 4 8 336,0 3 0 20,8 4 3 32,3 0 4 56,4 2 5 48,0 3 2 64,3 9 8 21,0 4 1 16,1 7 6 18,7 9 3 30,4 7 6 62,514 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 Aug 13, 2003 Federal Reserve notes outstanding 777,982 Less: Notes held by F.R. Banks not subject to collateralization 111,177 Federal Reserve notes to be collateralized 666,805 Collateral held against Federal Reserve notes 666,805 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 653,145 Other eligible assets 420 Memo: Total U.S. Treasury and agency securities1 672,288 Less: face value of securities under reverse repurchase agreements 19,142 U.S. Treasury and agency securities eligible to be pledged 653,145 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.