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.