FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 9, 2003 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Averages of daily figures Reserve Bank credit, related items, and Week ended Change from week ended Wednesday reserve balances of depository institutions at Jan 8, 2003 Jan 1, 2003 Jan 9, 2002 Jan 8, 2003 Federal Reserve Banks Reserve Bank Credit 697,473 - 9,280 + 65,884 701,288 Securities held outright 629,416 + 1 + 73,056 629,416 U.S. Treasury (1) 629,406 + 1 + 73,056 629,406 Bills (2) 226,682 0 + 40,954 226,682 Notes and bonds, nominal (2) 389,219 0 + 29,740 389,219 Notes and bonds, inflation-indexed (2) 12,242 0 + 2,056 12,242 Inflation compensation (3) 1,263 + 2 + 306 1,263 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 28,393 - 9,714 - 8,536 33,750 Loans to depository institutions 27 - 18 - 140 18 Adjustment credit 10 + 5 - 145 0 Seasonal credit 17 - 23 + 5 18 Extended credit 0 0 0 0 Float 738 + 625 - 183 -1,013 Other Federal Reserve assets 38,899 - 174 + 1,686 39,117 Gold stock 11,043 0 - 2 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 34,511 + 14 + 1,403 34,511 Total factors supplying reserve funds 745,227 - 9,266 + 67,286 749,042 Currency in circulation(5) 683,136 - 3,448 + 44,180 680,221 Reverse repurchase agreements (6) 18,533 - 2,332 + 18,533 18,709 Foreign official and international accounts 18,533 - 2,332 + 18,533 18,709 Dealers 0 0 0 0 Treasury cash holdings 370 + 2 - 58 369 Deposits with F.R.Banks, other than reserve balances 16,033 - 246 + 1,822 16,825 U.S. Treasury, general account 4,829 - 187 - 224 5,490 Foreign official 107 - 30 + 3 99 Service-related 10,886 + 237 + 2,019 10,886 Required clearing balances 10,535 0 + 1,985 10,535 Adjustments to compensate for float 351 + 237 + 34 351 Other 211 - 265 + 24 350 Other liabilities and capital 19,217 - 701 + 1,771 19,383 Total factors, other than reserve balances, absorbing reserve funds 737,290 - 6,723 + 66,248 735,506 Reserve balances with Federal Reserve Banks 7,937 - 2,542 + 1,037 13,535 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 861,085 + 10,398 ------ 859,867 U.S. Treasury 694,017 + 7,272 ------ 695,437 Federal agency 167,068 + 3,125 ------ 164,430 Securities lent to dealers 960 - 99 - 3,644 474 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 effects 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. 2. Consolidated Statement of Condition of All Federal Reserve Banks Millions of Dollars Eliminations Change Since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation Jan 8, 2003 Jan 1, 2003 Jan 9, 2002 Assets Gold certificate account 11,039 0 - 6 Special drawing rights certificate account 2,200 0 0 Coin 996 + 8 - 57 Securities, repurchase agreements, and loans 663,184 - 5,772 + 67,046 Securities held outright 629,416 0 + 71,792 U.S. Treasury (1) 629,406 0 + 71,792 Bills (2) 226,682 0 + 40,461 Notes and bonds, nominal (2) 389,219 0 + 28,967 Notes and bonds, inflation-indexed (2) 12,242 0 + 2,056 Inflation compensation (3) 1,263 0 + 308 Federal agency (2) 10 0 0 Repurchase agreements (4) 33,750 - 5,750 - 3,750 Loans 18 - 22 - 995 Items in process of collection (1,140) 8,353 - 1,938 - 727 Bank premises 1,541 - 2 + 30 Other assets (5) 37,483 + 452 + 1,510 Total assets (1,140) 724,796 - 7,252 + 67,796 Liabilities Federal Reserve notes, net of F.R. Bank holdings 647,070 - 7,202 + 42,397 Reverse repurchase agreements (6) 18,709 - 2,382 + 18,709 Deposits (0) 31,135 + 2,886 + 4,192 Depository institutions 25,196 + 2,655 + 3,624 U.S. Treasury, general account 5,490 + 1,070 + 383 Foreign official 99 - 37 + 18 Other (0) 350 - 802 + 166 Deferred availability cash items (1,140) 8,499 - 960 + 524 Other liabilities and accrued dividends (7) 2,222 + 5 - 140 Total liabilities (1,140) 707,635 - 7,653 + 65,682 Capital Accounts Capital paid in 8,386 + 6 + 967 Surplus 8,348 - 32 + 1,076 Other capital accounts 426 + 426 + 70 Total capital 17,161 + 401 + 2,114 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 effects of inflation on the original face value of inflation-indexed securities. 4 Cash value of agreements, which are collatealized by U.S. Treasury and federal agency securites. 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, January 8, 2003 Millions of dollars U.S. Treasury Federal agency Reverse Maturity Loans securities (1) securities Repurchase repurchase Weekly Weekly agreements(2)agreements(2) Holdings changes Holdings changes Within 15 days 8 42,439 + 14,995 0 0 30,750 18,709 16 days to 90 days 10 138,513 - 15,712 0 0 3,000 0 91 days to 1 year 0 142,557 + 717 10 0 ------ ------ Over 1 to 5 years ------ 172,758 0 0 0 ------ ------ Over 5 to 10 years ------ 53,300 0 0 0 ------ ------ Over 10 years ------ 79,840 0 0 0 ------ ------ All 18 629,406 0 10 0 33,750 18,709 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 effects of inflation on the original face value of such securities. 2 Cash value of agreements classified by remaining maturity of the agreements. 4. Statement of Condition of Each Federal Reserve Bank on January 8, 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 11,039 533 4,364 430 522 819 926 1,080 346 179 309 485 1,046 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 996 44 32 59 42 149 100 135 60 35 66 164 109 Securities, repurchase agreements, and loans 663,184 36,062 281,401 24,203 34,728 49,090 44,817 74,074 22,391 9,842 18,607 13,969 54,001 Securities held outright 629,416 36,062 247,651 24,203 34,728 49,090 44,817 74,070 22,381 9,839 18,606 13,969 54,001 U.S. Treasury (1) 629,406 36,062 247,647 24,202 34,727 49,089 44,816 74,069 22,380 9,839 18,605 13,969 54,001 Bills (2) 226,682 12,988 89,191 8,717 12,507 17,680 16,141 26,676 8,060 3,544 6,701 5,031 19,448 Notes and bonds(3) 402,724 23,074 158,456 15,486 22,220 31,410 28,676 47,393 14,320 6,296 11,904 8,938 34,552 Federal agency (2) 10 1 4 0 1 1 1 1 0 0 0 0 1 Repurchase agreements(4) 33,750 0 33,750 0 0 0 0 0 0 0 0 0 0 Loans 18 0 0 0 0 0 0 4 10 2 1 0 0 Items in process of collection 9,493 506 856 456 498 743 947 610 426 433 567 464 2,988 Bank premises 1,541 91 185 50 152 129 279 116 44 127 50 141 176 Other assets(5) 37,483 1,958 12,963 1,266 2,538 5,607 2,523 3,856 982 640 978 822 3,349 Interdistrict settlement account 0 - 5,506 +32,405 - 6,086 - 6,121 - 2,263 - 4,606 -16,677 - 3,472 + 3,980 - 2,524 +13,512 - 2,644 Total Assets 725,936 33,804 333,080 20,460 32,464 54,422 45,152 63,406 20,848 15,266 18,119 29,654 59,260 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 effects 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. 4. Statement of Condition of Each Federal Reserve Bank on January 8, 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 Liabilities Federal Reserve notes outstanding 757,969 33,148 330,268 25,400 32,683 54,525 57,541 64,461 21,998 15,033 20,086 36,336 66,489 Less: notes held by F.R. Banks 110,898 4,478 25,197 7,588 4,751 9,337 17,546 8,039 3,362 1,862 4,133 8,880 15,726 Federal Reserve notes, net 647,070 28,670 305,071 17,812 27,933 45,188 39,996 56,422 18,635 13,171 15,953 27,456 50,763 Reverse repurchase agreements (1) 18,709 1,072 7,361 719 1,032 1,459 1,332 2,202 665 292 553 415 1,605 Deposits 31,135 2,375 15,145 835 1,369 2,766 1,678 2,062 736 398 647 828 2,296 Depository institutions 25,196 2,372 9,243 834 1,365 2,754 1,674 2,058 735 398 645 826 2,293 U.S. Treasury, general account 5,490 0 5,490 0 0 0 0 0 0 0 0 0 0 Foreign official 99 2 75 1 3 7 2 3 1 1 1 1 3 Other 350 1 337 0 1 5 1 0 0 0 1 1 0 Deferred availability cash items 9,638 655 1,040 511 576 602 984 720 299 648 466 488 2,650 Other liabilities and accrued dividends (2) 2,222 137 685 102 124 240 182 234 99 75 89 85 171 Total liabilities 708,775 32,908 329,303 19,979 31,034 50,256 44,171 61,640 20,434 14,586 17,707 29,273 57,486 Capital Capital paid in 8,386 436 1,809 233 707 2,073 475 858 199 340 201 186 868 Surplus 8,348 436 1,809 233 702 2,041 475 858 199 340 201 186 868 Other capital 426 24 160 16 21 52 31 50 16 0 12 8 38 Total liabilities and capital 725,936 33,804 333,080 20,460 32,464 54,422 45,152 63,406 20,848 15,266 18,119 29,654 59,260 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 Federal Reserve notes and collateral Wednesday Jan 8, 2003 Federal Reserve notes, net of F.R. Bank holdings 647,070 Collateral held against Federal Reserve notes 647,070 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 633,832 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities (1) 663,166 Less:face value of securities under reverse repurchase agreements 18,715 U.S. Treasury and agency securities eligible to be pledged 644,451 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 effects of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements.