FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks June 5, 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 Jun 4, 2003 May 28, 2003 Jun 5, 2002 Jun 4, 2003 Federal Reserve Banks Reserve Bank Credit 716,921 - 3,554 + 65,615 708,888 Securities held outright 651,202 + 350 + 63,789 651,413 U.S. Treasury (1) 651,192 + 350 + 63,789 651,403 Bills (2) 238,010 + 338 + 44,025 238,223 Notes and bonds, nominal (2) 398,853 0 + 18,183 398,853 Notes and bonds, inflation-indexed (2) 12,814 0 + 1,212 12,814 Inflation compensation (3) 1,514 + 12 + 368 1,512 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 27,813 - 4,044 + 884 19,000 Loans to depository institutions 76 + 17 - 44 65 Primary credit 12 + 10 + 12 7 Secondary credit 0 0 0 0 Seasonal credit 64 + 7 - 56 58 Adjustment credit 0 0 0 0 Float -317 + 92 - 272 332 Other Federal Reserve assets 38,147 + 31 + 1,257 38,078 Gold stock 11,044 + 1 0 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 34,892 + 14 + 1,021 34,892 Total factors supplying reserve funds 765,057 - 3,539 + 66,636 757,025 Currency in circulation(5) 692,854 - 677 + 38,413 693,680 Reverse repurchase agreements (6) 21,987 + 389 + 21,987 21,673 Foreign official and international accounts 21,808 + 210 + 21,808 20,423 Dealers 179 + 179 + 179 1,250 Treasury cash holdings 376 + 17 - 39 385 Deposits with F.R.Banks, other than reserve balances 17,843 + 793 + 2,380 17,449 U.S. Treasury, general account 6,487 + 944 + 1,149 6,126 Foreign official 123 - 37 + 23 77 Service-related 11,004 - 101 + 1,205 11,004 Required clearing balances 10,833 + 13 + 1,024 10,833 Adjustments to compensate for float 170 - 115 + 180 170 Other 229 - 13 + 3 243 Other liabilities and capital 19,990 - 291 + 411 19,836 Total factors, other than reserve balances, absorbing reserve funds 753,050 + 230 + 63,152 753,023 Reserve balances with Federal Reserve Banks 12,007 - 3,770 + 3,484 4,002 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 933,369 + 5,622 ------ 935,950 U.S. Treasury 743,519 + 2,580 ------ 747,892 Federal agency 189,850 + 3,042 ------ 188,059 Securities lent to dealers 814 - 104 + 563 656 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. 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 Jun 4, 2003 May 28, 2003 Jun 5, 2002 Assets Gold certificate account 11,040 + 1 - 4 Special drawing rights certificate account 2,200 0 0 Coin 909 - 11 - 20 Securities, repurchase agreements, and loans 670,477 - 12,454 + 59,246 Securities held outright 651,413 + 544 + 63,040 U.S. Treasury (1) 651,403 + 544 + 63,040 Bills (2) 238,223 + 540 + 43,851 Notes and bonds, nominal (2) 398,853 0 + 17,619 Notes and bonds, inflation-indexed (2) 12,814 0 + 1,212 Inflation compensation (3) 1,512 + 4 + 358 Federal agency (2) 10 0 0 Repurchase agreements (4) 19,000 - 13,000 - 3,750 Loans 65 + 3 - 44 Items in process of collection (1,086) 9,883 - 749 + 926 Bank premises 1,579 - 2 + 65 Other assets (5) 36,505 - 9 + 956 Total assets (1,086) 732,594 - 13,223 + 61,170 Liabilities Federal Reserve notes net of FR Bank holdings 660,078 - 1,089 + 37,251 Reverse repurchase agreements (6) 21,673 - 184 + 21,673 Deposits (-40) 22,192 - 11,366 + 1,515 Depository institutions 15,747 - 12,613 + 1,193 U.S. Treasury, general account 6,126 + 1,301 + 350 Foreign official 77 - 52 - 19 Other (-40) 243 0 - 8 Deferred availability cash items (1,126) 8,815 - 602 + 345 Other liabilities and accrued dividends (7) 2,305 - 21 - 203 Total liabilities (1,086) 715,063 - 13,263 + 60,581 Capital Accounts Capital paid in 8,584 + 10 + 302 Surplus 8,380 0 + 1,068 Other capital accounts 566 + 29 - 783 Total capital 17,530 + 39 + 588 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 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, June 4, 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 23 45,801 - 5,948 0 0 14,000 21,673 16 days to 90 days 41 143,909 + 5,815 0 0 5,000 0 91 days to 1 year 0 154,845 + 951 10 0 ------ ------ Over 1 to 5 years ------ 180,193 - 277 0 0 ------ ------ Over 5 to 10 years ------ 46,670 + 1 0 0 ------ ------ Over 10 years ------ 79,985 + 2 0 0 ------ ------ All 65 651,403 + 544 10 0 19,000 21,673 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. 4. Statement of Condition of Each Federal Reserve Bank on June 4, 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 11,040 495 4,707 380 477 808 863 982 331 224 303 507 963 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 909 43 33 65 35 119 97 109 51 37 61 149 111 Securities, repurchase agreements, and loans 670,477 31,495 297,699 20,366 30,524 50,096 44,010 65,837 20,511 14,557 17,513 25,531 52,340 Securities held outright 651,413 31,493 278,695 20,366 30,524 50,096 44,007 65,825 20,494 14,540 17,506 25,529 52,337 U.S. Treasury (1) 651,403 31,492 278,691 20,366 30,523 50,095 44,006 65,824 20,494 14,540 17,506 25,528 52,336 Bills (2) 238,223 11,517 101,919 7,448 11,163 18,320 16,093 24,072 7,495 5,317 6,402 9,336 19,140 Notes and bonds(3) 413,180 19,975 176,772 12,918 19,361 31,775 27,913 41,752 12,999 9,223 11,104 16,192 33,197 Federal agency (2) 10 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements(4) 19,000 0 19,000 0 0 0 0 0 0 0 0 0 0 Loans 65 2 4 0 0 0 3 11 16 17 6 3 3 Items in process of collection 10,969 559 923 685 614 1,038 1,038 959 657 495 644 413 2,944 Bank premises 1,579 91 185 52 152 143 278 117 43 126 51 164 176 Other assets(5) 36,505 1,688 13,078 1,016 2,292 5,851 2,117 3,388 938 1,100 872 1,031 3,133 Interdistrict settlement account 0 - 3,601 +16,545 - 3,142 - 2,731 - 2,768 - 2,997 - 6,791 - 1,544 - 581 - 36 + 2,999 + 4,647 Total Assets 733,679 30,885 334,045 19,505 31,467 55,434 45,572 64,813 21,057 15,988 19,474 30,892 64,549 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. 4. Statement of Condition of Each Federal Reserve Bank on June 4, 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 761,219 31,716 333,172 24,237 30,939 54,671 60,351 63,330 22,535 15,243 21,340 34,882 68,803 Less: notes held by F.R. Banks 101,142 4,264 23,097 7,455 3,913 7,588 19,913 6,663 3,468 1,339 4,036 6,435 12,969 Federal Reserve notes, net 660,078 27,451 310,075 16,782 27,026 47,083 40,438 56,666 19,067 13,904 17,304 28,447 55,833 Reverse repurchase agreements (1) 21,673 1,048 9,273 678 1,016 1,667 1,464 2,190 682 484 582 849 1,741 Deposits 22,152 730 9,025 786 1,201 1,526 1,445 2,991 463 410 621 658 2,295 Depository institutions 15,747 728 2,686 784 1,198 1,447 1,484 2,987 455 409 619 657 2,292 U.S. Treasury, general account 6,126 0 6,126 0 0 0 0 0 0 0 0 0 0 Foreign official 77 2 53 1 3 7 2 3 1 1 1 1 3 Other 203 1 160 1 0 72 -40 0 7 0 1 0 0 Deferred availability cash items 9,941 618 996 655 691 714 1,065 915 281 401 483 439 2,684 Other liabilities and accrued dividends (2) 2,305 132 716 94 129 265 181 228 99 89 86 107 179 Total liabilities 716,149 29,979 330,085 18,995 30,062 51,255 44,594 62,990 20,593 15,288 19,076 30,501 62,732 Capital Capital paid in 8,584 446 1,893 251 688 2,081 478 895 228 346 191 190 897 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 566 24 258 26 14 25 26 70 37 14 7 15 51 Total liabilities and capital 733,679 30,885 334,045 19,505 31,467 55,434 45,572 64,813 21,057 15,988 19,474 30,892 64,549 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 Jun 4, 2003 Federal Reserve notes outstanding 761,219 Less: Notes held by F.R. Banks not subject to collateralization 97,120 Federal Reserve Notes to be collateralized 664,099 Collateral held against Federal Reserve notes 664,099 Gold certificate account 11,040 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 648,732 Other eligible assets 2,127 Memo: Total U.S. Treasury and agency securities (1) 670,413 Less:face value of securities under reverse repurchase agreements 21,680 U.S. Treasury and agency securities eligible to be pledged 648,732 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.