FEDERAL RESERVE These data are scheduled for release each Thursday. H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks September 26, 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 Sep 25, 2002 Sep 18, 2002 Sep 26, 2001 Sep 25, 2002 Reserve Bank Credit 655,957 - 1,960 + 44,703 660,224 U.S. government securities (1) Bought outright-system account (2,3) 605,242 + 128 + 74,244 606,248 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) 12,214 - 3,286 - 27,119 15,500 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 1 - 6 - 1,064 2 Seasonal credit 168 + 6 + 101 174 Extended credit 0 0 0 0 Float 75 + 830 - 1,925 -158 Other F.R. assets 38,247 + 367 + 467 38,449 Gold stock 11,042 0 - 1 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 34,107 + 14 + 1,150 34,107 Total factors supplying reserve funds 703,307 - 1,945 + 45,852 707,574 Currency in circulation* 659,523 - 1,442 + 46,602 660,569 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 372 + 8 - 57 380 Deposits,other than reserve balances,with F.R.Banks Treasury 6,832 + 1,059 - 1,630 7,209 Foreign 80 - 26 - 525 75 Service-related balances and adjustments (5) 10,245 + 128 + 2,106 10,245 Other 234 + 16 - 64 232 Other F.R. liabilities and capital 19,423 + 249 + 636 19,276 Total factors, other than reserve balances, absorbing reserve funds 696,709 - 7 + 47,067 697,987 Reserve balances with F.R. Banks (6) 6,598 - 1,938 - 1,215 9,586 On September 25, 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 $ 804,435 million, a change of $ - 4,290 million for the week. The total includes $ 650,160 million of U.S. government securities and $ 154,275 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 $ 23,138 million (daily average over statement week) and $ 22,164 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 22,388 million (daily average) and $ 22,164 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 468 million (daily average) and $ 2,877 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,170 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 $ 9,939 million and adjustments of $ 306 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 Sep 25, 2002 Sep 18, 2002 Sep 26, 2001 ASSETS Gold certificate account 11,038 0 - 5 Special drawing rights certificate account 2,200 0 0 Coin 1,066 + 14 - 50 Loans 175 + 7 + 80 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 15,500 - 1,250 - 35,790 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright--Bills 204,269 - 28 + 36,487 Notes (3) 295,881 + 2 + 38,849 Bonds (4) 106,098 + 1 + 4,095 Total bought outright (5) 606,248 - 24 + 79,431 Held under repurchase agreements 0 0 0 Total U.S. government securities 606,248 - 24 + 79,431 Total loans and securities 621,933 - 1,267 + 43,721 Items in process of collection (1,240) 6,858 - 493 - 1,035 Bank premises 1,522 - 1 + 12 Other assets (6) 36,962 + 286 + 618 TOTAL ASSETS (1,240) 681,578 - 1,462 + 43,260 LIABILITIES Federal Reserve notes 627,903 - 842 + 45,774 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 19,955 - 94 - 572 U.S. Treasury--general account 7,209 + 34 - 2,459 Foreign--official accounts 75 - 64 - 560 Other (0) 232 + 17 - 5 Total deposits (0) 27,471 - 107 - 3,596 Deferred availability cash items (1,240) 6,927 - 529 - 436 Other liabilities and accrued dividends (7) 2,432 + 40 - 512 TOTAL LIABILITIES (1,240) 664,735 - 1,437 + 41,233 CAPITAL ACCOUNTS Capital paid in 8,254 + 2 + 1,046 Surplus 7,312 0 + 552 Other capital accounts 1,278 - 26 + 430 *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 $ 7,168 million of inflation-indexed securities valued at the original face amount and $ 655 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,074 million of inflation-indexed securities valued at the original face amount and $ 515 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 22,164 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 2,877 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, September 25, 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 152 24,435 - 1,585 0 0 13,500 0 16 days to 90 days 24 125,775 + 2,196 0 0 2,000 0 91 days to 1 year 0 147,227 - 638 0 0 ------ ------ Over 1 to 5 years 175,654 0 10 0 ------ ------ Over 5 to 10 years 51,437 + 1 0 0 ------ ------ Over 10 years 81,720 + 2 0 0 ------ ------ Total 175 606,248 - 24 10 0 15,500 0 1 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,170 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 September 25, 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 11,038 533 4,363 430 522 819 926 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 1,066 43 51 50 56 141 139 134 62 34 71 155 128 Loans 175 0 0 0 0 0 8 31 29 65 21 12 9 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 15,500 0 15,500 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 204,269 11,704 80,372 7,855 11,271 15,931 14,545 24,038 7,263 3,193 6,038 4,533 17,525 Notes (3) 295,881 16,952 116,417 11,377 16,325 23,077 21,068 34,819 10,521 4,625 8,746 6,567 25,385 Bonds (4) 106,098 6,079 41,745 4,080 5,854 8,275 7,555 12,486 3,773 1,659 3,136 2,355 9,103 Total bought outright(5) 606,248 34,735 238,535 23,312 33,450 47,283 43,167 71,343 21,557 9,477 17,921 13,455 52,014 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 606,248 34,735 238,535 23,312 33,450 47,283 43,167 71,343 21,557 9,477 17,921 13,455 52,014 Total loans and securities 621,933 34,735 254,039 23,312 33,450 47,284 43,176 71,376 21,586 9,542 17,942 13,467 52,023 Items in process of collection 8,098 419 747 400 197 518 764 545 366 568 505 470 2,597 Bank premises 1,522 91 181 49 153 130 279 112 43 125 49 138 172 Other assets(6) 36,962 1,928 12,986 1,245 2,472 5,384 2,476 3,807 974 627 967 810 3,288 Interdistrict settlement account 0 - 6,949 +28,194 - 5,106 - 4,697 - 783 - 3,024 -11,276 - 2,774 + 4,143 - 2,342 +10,605 - 5,991 TOTAL ASSETS 682,819 30,916 301,435 20,463 32,257 53,641 44,903 65,989 20,675 15,248 17,567 26,228 53,497 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 $ 7,168 million of inflation-indexed securities valued at the original face amount and $ 655 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,074 million of inflation-indexed securities valued at the original face amount and $ 515 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 22,164 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 2,877 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 September 25, 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 627,903 28,419 283,533 18,522 28,080 46,215 41,593 60,576 19,275 13,653 15,983 24,530 47,523 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 19,955 948 5,287 857 2,311 2,323 1,297 2,762 637 381 610 848 1,695 U.S. Treasury--general account 7,209 0 7,209 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 75 2 52 1 3 7 2 3 1 1 1 1 3 Other 232 6 137 0 2 81 1 1 2 0 1 0 0 Total deposits 27,471 956 12,685 858 2,315 2,410 1,300 2,765 640 382 612 849 1,698 Deferred credit items 8,168 509 754 484 323 624 774 671 243 561 468 384 2,372 Other liabilities and accrued dividends (2) 2,432 149 745 109 138 255 203 259 107 79 97 93 199 TOTAL LIABILITIES 665,975 30,034 297,716 19,973 30,857 49,504 43,871 64,271 20,265 14,675 17,160 25,856 51,792 CAPITAL ACCOUNTS Capital paid in 8,254 432 1,769 238 692 2,067 473 837 199 327 199 183 838 Surplus 7,312 418 1,504 221 665 1,757 535 793 149 118 191 164 796 Other capital accounts 1,278 32 445 31 43 312 24 88 62 127 17 26 71 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 682,819 30,916 301,435 20,463 32,257 53,641 44,903 65,989 20,675 15,248 17,567 26,228 53,497 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 751,047 34,062 318,767 26,316 32,702 56,078 58,347 67,792 22,838 15,448 20,510 33,996 64,190 Less--Held by F.R. Banks 123,143 5,643 35,235 7,794 4,622 9,863 16,753 7,216 3,563 1,795 4,527 9,466 16,667 F.R. notes, net 627,903 28,419 283,533 18,522 28,080 46,215 41,593 60,576 19,275 13,653 15,983 24,530 47,523 Collateral held against F.R. notes Gold certificate account 11,038 Special drawing rights certificate account 2,200 Other eligible assets 0 U.S. govt. and agency securities(3) 614,666 Total collateral 627,903 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.