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 November 29, 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 Nov 27, 2002 Nov 20, 2002 Nov 28, 2001 Nov 27, 2002 Reserve Bank Credit 669,038 + 2,951 + 47,930 676,131 U.S. government securities (1) Bought outright-system account (2,3) 609,235 + 1,182 + 59,741 609,614 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) 23,036 + 2,107 - 12,207 29,000 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 3 - 307 - 6 6 Seasonal credit 54 - 6 + 21 54 Extended credit 0 0 0 0 Float 29 + 325 - 650 613 Other F.R. assets 36,672 - 349 + 1,033 36,834 Gold stock 11,042 0 - 3 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 34,427 + 14 + 1,453 34,427 Total factors supplying reserve funds 716,708 + 2,965 + 49,382 723,800 Currency in circulation* 669,912 + 2,114 + 43,820 674,291 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 384 - 3 - 45 377 Deposits,other than reserve balances,with F.R.Banks Treasury 5,016 + 148 - 58 5,082 Foreign 125 - 22 - 202 224 Service-related balances and adjustments (5) 10,625 + 164 + 2,474 10,625 Other 180 - 70 - 83 184 Other F.R. liabilities and capital 19,483 - 308 + 1,668 19,435 Total factors, other than reserve balances, absorbing reserve funds 705,725 + 2,022 + 47,574 710,219 Reserve balances with F.R. Banks (6) 10,983 + 944 + 1,808 13,581 On November 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 $ 831,289 million, a change of $ + 8,370 million for the week. The total includes $ 676,372 million of U.S. government securities and $ 154,917 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 $ 19,295 million (daily average over statement week) and $ 19,114 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 19,295 million (daily average) and $ 19,114 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,629 million (daily average) and $ 2,200 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 $ 1,237 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 $ 10,282 million and adjustments of $ 343 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 Nov 27, 2002 Nov 20, 2002 Nov 28, 2001 ASSETS Gold certificate account 11,038 0 - 7 Special drawing rights certificate account 2,200 0 0 Coin 1,049 - 27 + 3 Loans 60 + 3 + 25 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 29,000 + 9,750 - 10,350 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright--Bills 207,568 + 3,213 + 22,269 Notes (3) 297,339 + 3 + 34,963 Bonds (4) 104,707 + 2 + 1,617 Total bought outright (5) 609,614 + 3,218 + 58,849 Held under repurchase agreements 0 0 0 Total U.S. government securities 609,614 + 3,218 + 58,849 Total loans and securities 638,684 + 12,972 + 48,523 Items in process of collection (1,748) 8,118 - 118 + 81 Bank premises 1,530 - 3 + 11 Other assets (6) 35,322 + 328 + 543 TOTAL ASSETS (1,748) 697,941 + 13,153 + 49,154 LIABILITIES Federal Reserve notes 641,286 + 5,388 + 46,066 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 23,972 + 7,029 + 689 U.S. Treasury--general account 5,082 + 563 + 769 Foreign--official accounts 224 + 152 - 127 Other (0) 184 - 47 - 88 Total deposits (0) 29,463 + 7,699 + 1,244 Deferred availability cash items (1,748) 7,757 - 63 + 267 Other liabilities and accrued dividends (7) 2,427 + 6 - 260 TOTAL LIABILITIES (1,748) 680,933 + 13,030 + 47,317 CAPITAL ACCOUNTS Capital paid in 8,349 + 45 + 979 Surplus 7,312 0 + 579 Other capital accounts 1,348 + 78 + 279 *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 $ 695 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 $ 543 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 19,114 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 2,200 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, November 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 56 25,646 + 3,217 0 0 21,000 0 16 days to 90 days 4 135,245 + 59 0 0 8,000 0 91 days to 1 year 0 142,115 - 63 0 0 ------ ------ Over 1 to 5 years 173,805 + 1 10 0 ------ ------ Over 5 to 10 years 52,974 + 2 0 0 ------ ------ Over 10 years 79,829 + 2 0 0 ------ ------ Total 60 609,614 + 3,218 10 0 29,000 0 1 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,237 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 November 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 11,038 533 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 1,049 49 42 62 49 142 116 131 60 35 72 162 128 Loans 60 0 0 0 0 0 8 7 14 10 12 4 5 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 29,000 0 29,000 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 207,568 11,893 81,670 7,982 11,453 16,189 14,780 24,427 7,381 3,245 6,136 4,607 17,808 Notes (3) 297,339 17,036 116,991 11,434 16,406 23,190 21,172 34,991 10,573 4,648 8,789 6,599 25,510 Bonds (4) 104,707 5,999 41,198 4,026 5,777 8,166 7,456 12,322 3,723 1,637 3,095 2,324 8,983 Total bought outright(5) 609,614 34,928 239,859 23,441 33,635 47,546 43,407 71,739 21,677 9,530 18,020 13,529 52,302 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 609,614 34,928 239,859 23,441 33,635 47,546 43,407 71,739 21,677 9,530 18,020 13,529 52,302 Total loans and securities 638,684 34,928 268,863 23,442 33,636 47,546 43,416 71,748 21,690 9,540 18,032 13,534 52,308 Items in process of collection 9,866 526 822 483 526 892 921 745 530 616 631 366 2,807 Bank premises 1,530 91 184 49 152 129 278 115 43 125 50 140 172 Other assets(6) 35,322 1,838 12,357 1,115 2,404 5,279 2,362 3,605 921 604 918 774 3,146 Interdistrict settlement account 0 - 5,971 +29,924 - 5,507 - 5,055 - 2,591 - 4,394 -14,864 - 3,322 + 4,046 - 2,370 +12,408 - 2,306 TOTAL ASSETS 699,689 32,110 317,430 20,156 32,338 52,364 43,792 62,772 20,340 15,175 17,709 27,968 57,535 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 $ 695 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 $ 543 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 19,114 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 2,200 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 November 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 641,286 28,618 298,872 17,892 28,358 45,079 39,944 57,542 18,844 13,256 15,760 26,339 50,782 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 23,972 1,914 7,748 1,121 1,418 2,137 1,758 2,509 664 531 1,022 781 2,367 U.S. Treasury--general account 5,082 0 5,082 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 224 2 200 1 3 7 2 3 1 1 1 1 3 Other 184 1 145 0 1 29 1 1 2 0 1 3 1 Total deposits 29,463 1,917 13,176 1,123 1,422 2,173 1,761 2,513 666 532 1,024 785 2,371 Deferred credit items 9,504 539 904 542 1,005 704 861 719 315 669 420 378 2,447 Other liabilities and accrued dividends (2) 2,427 147 738 106 143 266 197 258 109 83 96 92 193 TOTAL LIABILITIES 682,680 31,220 313,690 19,663 30,928 48,223 42,762 61,032 19,935 14,540 17,300 27,595 55,793 CAPITAL ACCOUNTS Capital paid in 8,349 436 1,801 242 699 2,073 473 850 199 338 200 183 854 Surplus 7,312 418 1,504 221 665 1,757 535 793 149 118 191 164 796 Other capital accounts 1,348 35 436 30 46 311 22 97 57 178 17 26 93 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 699,689 32,110 317,430 20,156 32,338 52,364 43,792 62,772 20,340 15,175 17,709 27,968 57,535 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 757,885 33,535 327,984 25,723 32,991 55,013 57,558 65,751 22,346 15,234 20,208 35,853 65,691 Less--Held by F.R. Banks 116,599 4,917 29,111 7,831 4,633 9,933 17,614 8,209 3,502 1,978 4,448 9,513 14,910 F.R. notes, net 641,286 28,618 298,872 17,892 28,358 45,079 39,944 57,542 18,844 13,256 15,760 26,339 50,782 Collateral held against F.R. notes Gold certificate account 11,038 Special drawing rights certificate account 2,200 Other eligible assets 0 r U.S. govt. and agency securities(3) 628,048 r Total collateral 641,286 r 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. r revised. The incorrect values reported on the original release showed insufficient collateral. In fact, an adequate volume of securities was available to collateralize Federal Reserve notes. Components may not add to totals due to rounding.