Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page


Release Date: February 28, 2002

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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
                                                                                          February 28, 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     Feb 27, 2002 Feb 20, 2002 Feb 28, 2001 Feb 27, 2002

Reserve Bank Credit                                         631,999    -   4,446    +  56,908      635,345
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    567,332    +   1,448    +  46,593      568,702
    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)                      28,856    -   5,894    +  11,171       31,999
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                             5    +       3    -      67           10
    Seasonal credit                                              12    -       4    -       5           12
    Extended credit                                               0            0            0            0
   Float                                                         34    +      84    -   1,768       -1,340
   Other F.R. assets                                         35,751    -      82    +     985       35,953
Gold stock                                                   11,044            0    -       2       11,044
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding                                33,307    +      14    +   1,220       33,307
        Total factors supplying reserve funds               678,550    -   4,433    +  58,127      681,897
                                                                   
Currency in circulation*                                    637,614    -   1,009    +  53,562      638,672
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         410    +       3    -      79          414
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    4,696    -     196    -     172        4,908
  Foreign                                                       127    -       9    +      27           79
  Service-related balances and adjustments (5)                9,063    -     384    +   2,440        9,062
  Other                                                         218    -       1    -      72          212
Other F.R. liabilities and capital                           17,887    +      96    -     359       17,654
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             670,015    -   1,501    +  55,347      671,001

Reserve balances with F.R. Banks  (6)                         8,535    -   2,932    +   2,780       10,896
                                                                
On  February 27, 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 $    733,379 million, a change of $  -   3,658 million for the week. The total includes
$    600,755 million of U.S. government securities and $    132,623 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 $     19,200 million (daily average over statement week) and $     18,766 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     19,200 million (daily average)
   and $     18,766 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      1,484 million (daily average) and $      2,103 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $     10,658 million of inflation-indexed securities valued at the original face amount and 
   $        930 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 $      8,873 million and adjustments of $        190 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
                                                           Feb 27, 2002     Feb 20, 2002     Feb 28, 2001
                ASSETS
Gold certificate account                                        11,044                0        -       2
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,125        -      24        +      10
Loans                                                               22        +       7        +       4
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           31,999        -   3,750        +   8,334
Federal agency obligations (2)          
  Bought outright                                                   10                0                0
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       190,295        +     663        +   7,297
                   Notes (3)                                   274,269        +     604        +  32,477
                   Bonds (4)                                   104,138        +     614        +   9,311
    Total bought outright (5)                                  568,702        +   1,880        +  49,084
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          568,702        +   1,880        +  49,084
       Total loans and securities                              600,733        -   1,863        +  57,422
                          
Items in process of collection                    (1,105)        7,037        -   6,950        -   1,982
Bank premises                                                    1,509        -       2        +      33
Other assets (6)                                                34,455        +     458        +   1,536
                TOTAL ASSETS                      (1,105)      658,103        -   8,382        +  57,017
                          
                LIABILITIES
Federal Reserve notes                                          606,904        -     938        +  52,242
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       20,815        -   3,773        +   5,676
  U.S. Treasury--general account                                 4,908        -      38        -      48
  Foreign--official accounts                                        79        -       2        -     117
    Other                                             (0)          212        -      29        -     165
      Total deposits                                  (0)       26,014        -   3,842        +   5,347
Deferred availability cash items                  (1,105)        7,531        -   3,756        -     384
Other liabilities and accrued dividends (7)                      2,361        +      25        -   1,570
                TOTAL LIABILITIES                 (1,105)      642,810        -   8,509        +  55,635
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,635        +     195        +     612
Surplus                                                          7,266        -       3        +     911
Other capital accounts                                             392        -      65        -     142

*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 $      5,766 million of inflation-indexed securities valued at the original face amount and 
   $        532 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Includes $      4,892 million of inflation-indexed securities valued at the original face amount and 
   $        398 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     18,766 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      2,103 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,  February 27, 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              22       28,483   -     970            0           0       26,999           0
16 days to 90 days           0      117,816   +   1,889            0           0        5,000           0
91 days to 1 year            0      132,889   -     257            0           0     ------      ------
Over 1 to 5 years                   157,109   +     725           10           0     ------      ------
Over 5 to 10 years                   51,446   -       4            0           0     ------      ------
Over 10 years                        80,959   +     497            0           0     ------      ------
                   		 	
Total                       22      568,702   +   1,880           10           0       31,999           0

1  Includes $     10,658 million of inflation-indexed securities valued at the original face amount and 
   $        930 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  February 27, 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                      11,044        546      4,450        454        538        741        871      1,028        343        143        317        477      1,136
Special drawing rights certif. acct.           2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                           1,125         66         58         58         64        169        109        136         60         37         83        139        146
                       
Loans                                             22          0          0          0          0          0          0          0          0          3          5          0         14
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          31,999          0     31,999          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                     190,295     11,433     77,951      7,816     11,141     11,368     13,085     21,552      6,859        594      5,874      3,450     19,172
                   Notes (3)                 274,269     16,479    112,350     11,265     16,057     16,385     18,860     31,063      9,886        856      8,465      4,972     27,632
                   Bonds (4)                 104,138      6,257     42,658      4,277      6,097      6,221      7,161     11,794      3,753        325      3,214      1,888     10,492
     Total bought outright(5)                568,702     34,169    232,959     23,359     33,295     33,974     39,106     64,410     20,498      1,774     17,553     10,310     57,295
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             568,702     34,169    232,959     23,359     33,295     33,974     39,106     64,410     20,498      1,774     17,553     10,310     57,295
       Total loans and securities            600,733     34,169    264,962     23,359     33,295     33,975     39,106     64,411     20,498      1,778     17,558     10,310     57,310
                       
Items in process of collection                 8,142        468        702        484        351        536      1,039        655        287        519        540        328      2,233
Bank premises                                  1,509         91        177         49        151        131        280        106         43        123         49        137        171
Other assets(6)                               34,455      1,847     12,480      1,180      2,342      4,606      2,277      3,481        930        381        931        694      3,307
Interdistrict settlement account                   0    - 3,930    -19,879    - 2,566    - 3,176    +15,274    + 3,485    + 3,978    -   346    +12,531    -   791    + 7,853    -12,434
          TOTAL ASSETS                       659,208     33,372    263,824     23,102     33,669     55,579     47,334     74,008     21,886     15,541     18,754     20,035     52,104

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 $      5,766 million of inflation-indexed securities valued at the original face amount and  $        532 million 
   of compensation that adjusts for the effects of inflation on the principal of such  securities.
4  Includes $      4,892 million of inflation-indexed securities valued at the original face amount and  $        398 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     18,766 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      2,103 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  February 27, 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                         606,904     30,821    250,120     20,809     30,058     46,715     44,167     67,514     20,842     13,900     17,244     18,554     46,159
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      20,815        932      3,555      1,168      1,751      4,386        993      3,995        381        703        598        642      1,710
  U.S. Treasury--general account                4,908          0      4,908          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                       79          2         55          1          3          7          2          3          1          1          1          1          3
  Other                                           212          3        135          2          2         61          0          1          2          0          3          1          3
    Total deposits                             26,014        936      8,653      1,171      1,756      4,455        996      3,999        383        704        602        644      1,715
Deferred credit items                           8,636        592        946        559        335        671        969        612        242        497        415        411      2,387
Other liabilities and accrued                 
  dividends (2)                                 2,361        146        744        109        136        216        197        247        109         61         99         89        208
    TOTAL LIABILITIES                         643,915     32,495    260,464     22,647     32,285     52,057     46,330     72,372     21,576     15,162     18,360     19,697     50,469
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,635        429      1,676        218        683      1,762        447        798        150        306        193        166        805
Surplus                                         7,266        418      1,504        221        665      1,757        535        793        149         73        191        164        796
Other capital accounts                            392         29        180         16         36          3         23         44         10          0         10          8         34
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              659,208     33,372    263,824     23,102     33,669     55,579     47,334     74,008     21,886     15,541     18,754     20,035     52,104
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        750,901     35,559    294,833     27,828     34,420     56,522     63,433     74,588     23,803     16,146     21,691     33,960     68,119
  Less--Held by F.R. Banks                    143,997      4,738     44,712      7,019      4,362      9,807     19,266      7,073      2,961      2,246      4,448     15,406     21,960
  F.R. notes, net                             606,904     30,821    250,120     20,809     30,058     46,715     44,167     67,514     20,842     13,900     17,244     18,554     46,159
Collateral held against F.R. notes            
   Gold certificate account                    11,044
   Special drawing rights                 
     certificate account                        2,200
   Other eligible assets                            0
   U.S. govt. and agency securities(3)        593,659
     Total collateral                         606,904

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.


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Last update: February 28, 2002