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 October 24, 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 Oct 23, 2002 Oct 16, 2002 Oct 24, 2001 Oct 23, 2002 Reserve Bank Credit 657,667 - 4,001 + 51,050 657,121 U.S. government securities (1) Bought outright-system account (2,3) 610,273 + 640 + 66,696 610,231 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) 8,143 - 4,393 - 19,262 7,500 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 4 - 1 - 6 4 Seasonal credit 116 - 8 + 52 103 Extended credit 0 0 0 0 Float 376 - 287 + 414 231 Other F.R. assets 38,746 + 48 + 3,157 39,042 Gold stock 11,042 0 - 3 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 34,163 + 14 + 1,196 34,163 Total factors supplying reserve funds 705,073 - 3,987 + 52,244 704,527 Currency in circulation* 662,661 - 1,557 + 47,942 663,110 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 399 + 15 - 52 400 Deposits,other than reserve balances,with F.R.Banks Treasury 5,064 + 737 - 257 5,713 Foreign 341 + 264 - 238 128 Service-related balances and adjustments (5) 10,297 - 1 + 2,240 10,297 Other 212 - 4 - 50 205 Other F.R. liabilities and capital 19,391 - 144 + 1,547 19,372 Total factors, other than reserve balances, absorbing reserve funds 698,365 - 689 + 51,131 699,226 Reserve balances with F.R. Banks (6) 6,708 - 3,298 + 1,113 5,301 On October 23, 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 $ 803,483 million, a change of $ - 3,195 million for the week. The total includes $ 652,109 million of U.S. government securities and $ 151,375 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 $ 18,168 million (daily average over statement week) and $ 18,215 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 18,168 million (daily average) and $ 18,215 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,180 million (daily average) and $ 1,368 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 $ 1,205 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 $ 9,970 million and adjustments of $ 327 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 Oct 23, 2002 Oct 16, 2002 Oct 24, 2001 ASSETS Gold certificate account 11,038 0 - 7 Special drawing rights certificate account 2,200 0 0 Coin 1,074 + 15 - 39 Loans 107 - 52 + 5 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 7,500 - 6,250 - 22,550 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright--Bills 208,217 - 140 + 25,184 Notes (3) 295,901 + 6 + 37,512 Bonds (4) 106,113 + 5 + 3,345 Total bought outright (5) 610,231 - 129 + 66,041 Held under repurchase agreements 0 0 0 Total U.S. government securities 610,231 - 129 + 66,041 Total loans and securities 617,848 - 6,432 + 43,496 Items in process of collection (1,092) 7,839 - 8,256 + 130 Bank premises 1,528 + 2 + 14 Other assets (6) 37,513 + 375 + 753 TOTAL ASSETS (1,092) 679,040 - 14,295 + 44,346 LIABILITIES Federal Reserve notes 630,417 - 1,716 + 46,484 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 15,927 - 9,543 - 5,201 U.S. Treasury--general account 5,713 + 1,121 + 1,416 Foreign--official accounts 128 + 53 - 154 Other (-2) 205 - 10 - 46 Total deposits (-2) 21,973 - 8,380 - 3,985 Deferred availability cash items (1,094) 7,278 - 4,289 + 73 Other liabilities and accrued dividends (7) 2,424 + 31 - 403 TOTAL LIABILITIES (1,092) 662,092 - 14,353 + 42,169 CAPITAL ACCOUNTS Capital paid in 8,275 + 5 + 1,000 Surplus 7,312 0 + 577 Other capital accounts 1,362 + 53 + 602 *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 $ 676 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 $ 529 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,215 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,368 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, October 23, 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 103 25,974 + 983 0 0 5,500 0 16 days to 90 days 4 129,987 - 402 0 0 2,000 0 91 days to 1 year 0 144,194 - 721 0 0 ------ ------ Over 1 to 5 years 176,889 + 2 10 0 ------ ------ Over 5 to 10 years 51,453 + 5 0 0 ------ ------ Over 10 years 81,734 + 4 0 0 ------ ------ Total 107 610,231 - 129 10 0 7,500 0 1 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,205 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 October 23, 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 1,074 48 53 53 52 142 133 136 65 35 69 158 130 Loans 107 0 0 4 0 0 8 12 20 32 20 9 3 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 7,500 0 7,500 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 208,217 11,930 81,925 8,007 11,488 16,239 14,826 24,503 7,404 3,255 6,155 4,621 17,864 Notes (3) 295,901 16,954 116,425 11,378 16,326 23,078 21,069 34,822 10,522 4,626 8,747 6,567 25,387 Bonds (4) 106,113 6,080 41,751 4,080 5,855 8,276 7,556 12,487 3,773 1,659 3,137 2,355 9,104 Total bought outright(5) 610,231 34,963 240,102 23,465 33,669 47,594 43,451 71,812 21,698 9,539 18,038 13,543 52,355 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 610,231 34,963 240,102 23,465 33,669 47,594 43,451 71,812 21,698 9,539 18,038 13,543 52,355 Total loans and securities 617,848 34,964 247,606 23,469 33,670 47,594 43,460 71,825 21,719 9,572 18,058 13,552 52,359 Items in process of collection 8,931 461 796 439 372 636 675 668 369 912 507 334 2,763 Bank premises 1,528 91 183 49 153 130 279 115 43 125 49 139 172 Other assets(6) 37,513 1,966 13,238 1,205 2,504 5,425 2,520 3,872 999 638 985 823 3,338 Interdistrict settlement account 0 - 7,167 +36,267 - 6,248 - 6,638 - 1,408 - 3,693 -13,830 - 3,037 + 3,705 - 2,913 +10,033 - 5,071 TOTAL ASSETS 680,132 31,011 303,379 19,480 30,738 53,485 44,466 64,077 20,576 15,197 17,131 25,621 54,972 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 $ 676 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 $ 529 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,215 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,368 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 October 23, 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 630,417 28,464 288,721 17,698 27,835 45,860 41,161 59,125 19,217 13,560 15,674 24,092 49,009 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 15,927 945 3,395 700 1,010 2,534 1,226 2,216 548 429 584 632 1,708 U.S. Treasury--general account 5,713 0 5,713 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 128 2 104 1 3 7 2 3 1 1 1 1 3 Other 203 6 134 0 1 54 1 4 3 -2 1 1 1 Total deposits 21,971 952 9,347 701 1,014 2,595 1,229 2,223 551 428 586 634 1,712 Deferred credit items 8,372 559 849 484 344 621 837 730 287 535 363 427 2,336 Other liabilities and accrued dividends (2) 2,424 150 749 108 140 247 198 256 106 81 96 95 198 TOTAL LIABILITIES 663,184 30,125 299,667 18,990 29,333 49,322 43,425 62,334 20,161 14,604 16,720 25,248 53,255 CAPITAL ACCOUNTS Capital paid in 8,275 432 1,769 237 692 2,069 478 847 199 328 200 183 841 Surplus 7,312 418 1,504 221 665 1,757 535 793 149 118 191 164 796 Other capital accounts 1,362 36 439 31 47 336 28 103 66 147 21 27 79 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 680,132 31,011 303,379 19,480 30,738 53,485 44,466 64,077 20,576 15,197 17,131 25,621 54,972 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 750,811 33,826 321,006 26,234 32,543 55,583 57,801 66,872 22,613 15,341 20,378 33,951 64,662 Less--Held by F.R. Banks 120,394 5,362 32,285 8,536 4,708 9,723 16,640 7,748 3,396 1,780 4,704 9,859 15,653 F.R. notes, net 630,417 28,464 288,721 17,698 27,835 45,860 41,161 59,125 19,217 13,560 15,674 24,092 49,009 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) 617,179 Total collateral 630,417 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.