FEDERAL RESERVE These data are scheduled for release each Thursday. The exact time of each release will be announced, when the information is available, on (202) 452-3206. H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks July 11, 2002 Millions of dollars Averages of daily figures Reserve balances of depository institutions at Week ended Change from week ended Wednesday F.R. Banks, Reserve Bank credit, and related items Jul 10, 2002 Jul 3, 2002 Jul 11, 2001 Jul 10, 2002 Reserve Bank Credit 658,153 - 1,638 + 66,751 661,700 U.S. government securities (1) Bought outright-system account (2,3) 592,626 + 1,772 + 59,859 594,531 Held under repurchase agreements 0 0 0 0 Federal agency obligations (1) Bought outright 10 0 0 10 Held under repurchase agreements 0 0 0 0 Repurchase agreements -- triparty (4) 25,857 - 4,143 + 5,163 27,000 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 42 + 33 - 108 24 Seasonal credit 167 - 1 + 6 173 Extended credit 0 0 0 0 Float 500 + 715 - 341 329 Other F.R. assets 38,950 - 14 + 2,171 39,632 Gold stock 11,044 0 0 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 33,801 + 14 + 1,117 33,801 Total factors supplying reserve funds 705,198 - 1,623 + 67,869 708,744 Currency in circulation* 663,900 + 4,125 + 62,413 663,898 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 392 - 2 - 47 394 Deposits,other than reserve balances,with F.R.Banks Treasury 4,985 - 1,163 + 189 5,194 Foreign 99 + 16 + 22 84 Service-related balances and adjustments (5) 10,123 - 11 + 2,839 10,123 Other 228 - 3 - 55 221 Other F.R. liabilities and capital 19,575 - 531 + 1,994 19,559 Total factors, other than reserve balances, absorbing reserve funds 699,302 + 2,430 + 67,354 699,473 Reserve balances with F.R. Banks (6) 5,896 - 4,053 + 514 9,271 On July 10, 2002, the face amount of marketable U.S. government and federal agency securities held in custody by the Federal Reserve Banks for foreign official and international accounts was $ 790,575 million, a change of $ - 2,419 million for the week. The total includes $ 635,093 million of U.S. government securities and $ 155,482 million of federal agency securities. The total includes the face value of U.S. Treasury strips and other zero coupon bonds. 1 Face value of the securities. 2 Net of $ 23,476 million (daily average over statement week) and $ 22,490 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 23,476 million (daily average) and $ 22,490 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 559 million (daily average) and $ 625 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,216 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Cash value of agreements arranged through third-party custodial banks. These agreements are collateralized by U.S. government and federal agency securities. 5 Consists of required clearing balances of $ 9,902 million and adjustments of $ 221 million to compensate for float. 6 Excludes required clearing balances and adjustments to compensate for float. * Estimated (Treasury's figures). Components may not add to totals due to rounding. Worksheet for H.4.1 (a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS Millions of Dollars Change Since * Wednesday Wednesday Wednesday Jul 10, 2002 Jul 3, 2002 Jul 11, 2001 ASSETS Gold certificate account 11,039 - 5 - 5 Special drawing rights certificate account 2,200 0 0 Coin 885 - 20 - 178 Loans 198 + 34 + 9 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 27,000 + 500 - 500 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright--Bills 198,724 + 2,560 + 19,120 Notes (3) 290,167 + 662 + 37,602 Bonds (4) 105,640 + 54 + 4,992 Total bought outright (5) 594,531 + 3,275 + 61,713 Held under repurchase agreements 0 0 0 Total U.S. government securities 594,531 + 3,275 + 61,713 Total loans and securities 621,739 + 3,809 + 61,222 Items in process of collection (955) 7,802 - 1,151 - 225 Bank premises 1,519 + 1 + 7 Other assets (6) 37,939 + 710 + 2,541 TOTAL ASSETS (955) 683,124 + 3,345 + 63,363 LIABILITIES Federal Reserve notes 631,373 - 298 + 60,568 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 19,161 + 4,548 + 1,268 U.S. Treasury--general account 5,194 + 20 - 250 Foreign--official accounts 84 + 5 + 3 Other (0) 221 - 22 - 38 Total deposits (0) 24,660 + 4,552 + 983 Deferred availability cash items (955) 7,532 - 1,114 + 39 Other liabilities and accrued dividends (7) 2,382 + 65 - 689 TOTAL LIABILITIES (955) 665,947 + 3,205 + 60,901 CAPITAL ACCOUNTS Capital paid in 8,268 - 66 + 1,125 Surplus 7,312 0 + 635 Other capital accounts 1,598 + 207 + 704 *Figures in parentheses are the eliminations made in the consolidation process. 1 Cash value of agreements arranged through third-party custodial banks. 2 Face value of the securities. 3 Includes $ 6,591 million of inflation-indexed securities valued at the original face amount and $ 715 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,011 million of inflation-indexed securities valued at the original face amount and $ 501 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 22,490 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 625 million that are fully collateralized by other U.S. government securities. 6 Includes assets denominated in foreign currencies, revalued daily at market exchange rates. 7 Includes exchange-translation account reflecting the daily revaluation at market exchange rates of foreign exchange commitments. Components may not add to totals due to rounding. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, July 10, 2002 Millions of dollars U.S. government Federal agency Reverse Loans securities (1,2) obligations(2) Repurchase Repurchase Weekly Weekly Agreements Agreements Holdings changes Holdings changes Triparty(3) Triparty(3) Within 15 days 75 16,069 - 2,550 0 0 18,000 0 16 days to 90 days 122 138,640 + 3,684 0 0 9,000 0 91 days to 1 year 0 135,826 + 1,425 0 0 ------ ------ Over 1 to 5 years 169,944 + 716 10 0 ------ ------ Over 5 to 10 years 52,489 0 0 0 ------ ------ Over 10 years 81,563 0 0 0 ------ ------ Total 198 594,531 + 3,275 10 0 27,000 0 1 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,216 million of compensation that adjusts for the effects of inflation on the principal of such securities. 2 Includes face value of securities held under repurchase agreements classified by the remaining maturity of the agreements. 3 Cash value of agreements arranged through third-party custodial banks classified by remaining maturity of the agreements. Components may not add to totals due to rounding. H.4.1 (b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON July 10, 2002 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco ASSETS Gold certificate account 11,039 533 4,364 430 522 819 926 1,080 346 179 309 485 1,046 Special drawing rights certif. acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 885 45 38 42 42 118 102 110 54 34 62 125 113 Loans 198 2 0 0 0 0 5 49 46 54 20 6 16 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 27,000 0 27,000 0 0 0 0 0 0 0 0 0 0 Federal agency obligations(2) Bought outright 10 1 4 0 1 1 1 1 0 0 0 0 1 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 U.S. government securities(2) Bought outright--Bills 198,724 11,386 78,190 7,641 10,965 15,499 14,150 23,386 7,066 3,107 5,874 4,410 17,050 Notes (3) 290,167 16,625 114,169 11,158 16,010 22,631 20,661 34,147 10,318 4,536 8,577 6,440 24,895 Bonds (4) 105,640 6,053 41,565 4,062 5,829 8,239 7,522 12,432 3,756 1,651 3,123 2,345 9,064 Total bought outright(5) 594,531 34,063 233,925 22,861 32,803 46,369 42,333 69,965 21,140 9,294 17,574 13,195 51,008 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 594,531 34,063 233,925 22,861 32,803 46,369 42,333 69,965 21,140 9,294 17,574 13,195 51,008 Total loans and securities 621,739 34,066 260,929 22,862 32,804 46,370 42,339 70,014 21,186 9,348 17,595 13,201 51,026 Items in process of collection 8,757 517 955 367 481 629 698 599 372 547 509 417 2,666 Bank premises 1,519 92 183 49 152 130 280 110 43 124 49 138 172 Other assets(6) 37,939 1,989 13,255 1,284 2,546 5,513 2,556 3,921 1,006 648 999 835 3,387 Interdistrict settlement account 0 - 4,178 + 8,531 - 3,111 - 4,564 + 305 + 1,061 - 6,400 - 1,636 + 4,821 - 957 +10,131 - 4,002 TOTAL ASSETS 684,079 33,178 289,130 22,005 32,086 54,031 48,127 69,646 21,443 15,730 18,632 25,430 54,640 1 Cash value of agreements arranged through third-party custodial banks. These agreements are collateralized by U.S. government and federal agency securities. 2 Face value of the securities. 3 Includes $ 6,591 million of inflation-indexed securities valued at the original face amount and $ 715 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,011 million of inflation-indexed securities valued at the original face amount and $ 501 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 22,490 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 625 million that are fully collateralized by other U.S. government securities. 6 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Components may not add to totals due to rounding. H.4.1 (c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON July 10, 2002 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco LIABILITIES Federal Reserve notes 631,373 30,604 272,636 20,339 28,303 46,847 44,581 64,877 19,998 13,965 16,886 23,749 48,588 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 19,161 1,000 5,486 663 1,867 2,069 1,393 2,162 697 529 810 870 1,615 U.S. Treasury--general account 5,194 0 5,194 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 84 2 60 1 3 7 2 3 1 1 1 1 3 Other 221 12 133 0 1 70 0 0 3 0 1 1 0 Total deposits 24,660 1,014 10,873 664 1,871 2,145 1,396 2,165 701 529 812 871 1,618 Deferred credit items 8,487 518 945 401 364 566 902 639 202 664 425 366 2,495 Other liabilities and accrued dividends (2) 2,382 144 747 107 134 216 198 256 106 75 95 92 211 TOTAL LIABILITIES 666,902 32,280 285,201 21,511 30,672 49,774 47,077 67,937 21,007 15,234 18,218 25,078 52,912 CAPITAL ACCOUNTS Capital paid in 8,268 432 1,852 236 686 2,054 473 818 208 305 198 170 836 Surplus 7,312 418 1,504 221 665 1,757 535 793 149 118 191 164 796 Other capital accounts 1,598 48 573 37 64 445 42 97 79 74 24 19 96 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 684,079 33,178 289,130 22,005 32,086 54,031 48,127 69,646 21,443 15,730 18,632 25,430 54,640 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 750,562 35,037 309,426 26,686 32,920 56,541 60,174 70,639 23,462 15,723 20,852 33,720 65,383 Less--Held by F.R. Banks 119,189 4,433 36,790 6,348 4,617 9,694 15,593 5,762 3,463 1,758 3,967 9,971 16,794 F.R. notes, net 631,373 30,604 272,636 20,339 28,303 46,847 44,581 64,877 19,998 13,965 16,886 23,749 48,588 Collateral held against F.R. notes Gold certificate account 11,039 Special drawing rights certificate account 2,200 Other eligible assets 0 U.S. govt. and agency securities(3) 618,134 Total collateral 631,373 1 Cash value of agreements arranged through third-party custodial banks. These agreements are collateralized by U.S. government and federal agency securities. 2 Includes exchange translation account reflecting the monthly revaluation at market exchange rates of foreign exchange commitments. 3 U.S. government and agency securities bought outright or held under repurchase agreement are valued at face amount. Includes cash value of repurchase agreements under triparty arrangements and excludes the par value of securities pledged under reverse repurchase agreements. Components may not add to totals due to rounding.