FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 30, 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 29, 2003 Jan 22, 2003 Jan 30, 2002 Jan 29, 2003 Federal Reserve Banks Reserve Bank Credit 690,594 - 6,417 + 62,972 692,322 Securities held outright 629,416 0 + 68,365 629,416 U.S. Treasury (1) 629,406 0 + 68,365 629,406 Bills (2) 226,682 0 + 38,679 226,682 Notes and bonds, nominal (2) 389,219 0 + 27,311 389,219 Notes and bonds, inflation-indexed (2) 12,242 0 + 2,056 12,242 Inflation compensation (3) 1,263 0 + 318 1,263 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 20,143 - 6,893 - 8,321 20,500 Loans to depository institutions 52 + 33 + 23 11 Primary credit 45 + 33 + 45 4 Secondary credit 0 0 0 0 Seasonal credit 7 0 - 12 7 Adjustment credit 0 0 - 11 0 Float 763 - 48 + 792 1,981 Other Federal Reserve assets 40,220 + 492 + 2,114 40,414 Gold stock 11,043 0 - 2 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 34,553 + 14 + 1,173 34,553 Total factors supplying reserve funds 738,390 - 6,402 + 64,143 740,118 Currency in circulation(5) 674,738 - 1,144 + 44,329 675,689 Reverse repurchase agreements (6) 18,397 - 170 + 18,397 18,466 Foreign official and international accounts 18,397 - 170 + 18,397 18,466 Dealers 0 0 0 0 Treasury cash holdings 360 - 8 - 62 361 Deposits with F.R.Banks, other than reserve balances 18,034 + 397 - 563 17,881 U.S. Treasury, general account 7,162 + 1,029 - 2,008 7,030 Foreign official 114 + 1 - 149 100 Service-related 10,538 - 628 + 1,611 10,538 Required clearing balances 10,355 - 184 + 1,708 10,355 Adjustments to compensate for float 183 - 444 - 96 183 Other 221 - 4 - 16 214 Other liabilities and capital 19,873 - 43 + 2,372 19,574 Total factors, other than reserve balances, absorbing reserve funds 731,401 - 969 + 64,472 731,971 Reserve balances with Federal Reserve Banks 6,989 - 5,434 - 329 8,147 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 857,827 + 62 ------ 858,621 U.S. Treasury 688,713 - 2,432 ------ 687,352 Federal agency 169,114 + 2,494 ------ 171,269 Securities lent to dealers 357 - 63 - 1,624 362 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 Jan 29, 2003 Jan 22, 2003 Jan 30, 2002 Assets Gold certificate account 11,039 0 - 6 Special drawing rights certificate account 2,200 0 0 Coin 1,111 + 26 - 40 Securities, repurchase agreements, and loans 649,927 - 16,252 + 54,708 Securities held outright 629,416 0 + 66,473 U.S. Treasury (1) 629,406 0 + 66,473 Bills (2) 226,682 0 + 36,785 Notes and bonds, nominal (2) 389,219 0 + 27,311 Notes and bonds, inflation-indexed (2) 12,242 0 + 2,056 Inflation compensation (3) 1,263 0 + 320 Federal agency (2) 10 0 0 Repurchase agreements (4) 20,500 - 16,250 - 11,750 Loans 11 - 2 - 14 Items in process of collection (1,507) 9,250 - 7,402 - 435 Bank premises 1,543 + 2 + 34 Other assets (5) 38,747 + 474 + 1,887 Total assets (1,507) 713,818 - 23,151 + 56,149 Liabilities Federal Reserve notes net of FR Bank holdings 642,604 - 677 + 42,968 Reverse repurchase agreements (6) 18,466 - 57 + 18,466 Deposits (0) 25,671 - 18,427 - 6,923 Depository institutions 18,327 - 19,302 - 265 U.S. Treasury, general account 7,030 + 911 - 6,310 Foreign official 100 - 22 - 334 Other (0) 214 - 14 - 14 Deferred availability cash items (1,507) 7,503 - 4,016 - 509 Other liabilities and accrued dividends (7) 2,242 + 29 - 80 Total liabilities (1,507) 696,486 - 23,148 + 53,923 Capital Accounts Capital paid in 8,399 + 9 + 966 Surplus 8,380 0 + 1,109 Other capital accounts 552 - 13 + 150 Total capital 17,332 - 3 + 2,226 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, January 29, 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 11 49,592 - 1,026 0 0 16,500 18,466 16 days to 90 days 0 130,709 + 1,033 0 0 4,000 0 91 days to 1 year 0 143,207 - 8 10 0 ------ ------ Over 1 to 5 years ------ 174,818 0 0 0 ------ ------ Over 5 to 10 years ------ 51,240 0 0 0 ------ ------ Over 10 years ------ 79,840 0 0 0 ------ ------ All 11 629,406 0 10 0 20,500 18,466 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 January 29, 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 1,111 52 39 64 50 160 121 148 64 41 75 176 121 Securities, repurchase agreements, and loans 649,927 36,062 268,152 24,203 34,728 49,090 44,817 74,072 22,381 9,842 18,610 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) 20,500 0 20,500 0 0 0 0 0 0 0 0 0 0 Loans 11 0 1 0 0 0 0 3 0 2 5 0 0 Items in process of collection 10,758 529 846 578 753 919 1,048 1,229 660 450 621 501 2,625 Bank premises 1,543 92 186 50 152 129 279 116 44 127 50 142 176 Other assets(5) 38,747 2,039 13,356 1,276 2,627 5,785 2,619 4,008 1,024 666 1,017 851 3,480 Interdistrict settlement account 0 - 7,949 +42,737 - 7,187 - 6,440 - 3,430 - 5,992 -18,719 - 4,182 + 3,871 - 2,457 +13,271 - 3,524 Total Assets 715,325 31,473 330,554 19,496 32,495 53,619 43,984 62,145 20,409 15,206 18,292 29,493 58,159 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 January 29, 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 759,935 32,853 332,327 25,137 32,365 54,025 58,391 63,715 21,892 14,975 20,749 36,357 67,147 Less: notes held by F.R. Banks 117,331 5,042 27,167 8,074 5,108 9,207 19,059 8,221 3,618 1,834 4,474 8,843 16,685 Federal Reserve notes, net 642,604 27,811 305,160 17,064 27,257 44,819 39,333 55,495 18,274 13,141 16,275 27,514 50,462 Reverse repurchase agreements (1) 18,466 1,058 7,266 710 1,019 1,440 1,315 2,173 657 289 546 410 1,584 Deposits 25,671 905 12,722 662 1,638 2,315 1,307 1,788 717 468 632 626 1,890 Depository institutions 18,327 901 5,467 659 1,635 2,251 1,304 1,784 716 467 630 625 1,886 U.S. Treasury, general account 7,030 0 7,030 0 0 0 0 0 0 0 0 0 0 Foreign official 100 2 77 1 3 7 2 3 1 1 1 1 3 Other 214 2 149 2 1 56 1 1 0 0 1 1 0 Deferred availability cash items 9,010 654 910 472 1,008 574 862 671 246 543 332 472 2,266 Other liabilities and accrued dividends (2) 2,242 133 686 101 125 260 174 237 100 76 91 87 170 Total liabilities 697,993 30,561 326,744 19,009 31,047 49,408 42,991 60,364 19,994 14,518 17,876 29,110 56,372 Capital Capital paid in 8,399 437 1,809 234 707 2,079 475 859 200 340 201 188 868 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 552 39 192 20 38 59 43 64 15 8 14 9 50 Total liabilities and capital 715,325 31,473 330,554 19,496 32,495 53,619 43,984 62,145 20,409 15,206 18,292 29,493 58,159 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 29, 2003 Federal Reserve notes, net of F.R. Bank holdings 642,604 Collateral held against Federal Reserve notes 642,604 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 629,365 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities (1) 649,916 Less:face value of securities under reverse repurchase agreements 18,472 U.S. Treasury and agency securities eligible to be pledged 631,445 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.