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 December 20, 2001 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 Dec 19, 2001 Dec 12, 2001 Dec 20, 2000 Dec 19, 2001 Reserve Bank Credit 627,352 + 7,607 + 49,070 629,353 U.S. government securities (1) Bought outright-system account (2,3) 554,231 + 2,718 + 39,494 555,584 Held under repurchase agreements 0 0 0 0 Federal agency obligations (1) Bought outright 10 0 - 120 10 Held under repurchase agreements 0 0 0 0 Repurchase agreements -- triparty (4) 36,593 + 5,093 + 11,572 37,700 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 12 - 31 - 283 10 Seasonal credit 35 + 1 - 86 34 Extended credit 0 0 0 0 Float 732 + 348 - 2,243 27 Other F.R. assets 35,738 - 523 + 736 35,989 Gold stock 11,045 0 - 1 11,045 Special drawing rights certificate account 2,200 0 - 143 2,200 Treasury currency outstanding 33,167 + 14 + 1,624 33,167 Total factors supplying reserve funds 673,764 + 7,621 + 50,551 675,765 Currency in circulation* 630,596 + 3,558 + 47,391 634,598 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 440 - 1 + 36 425 Deposits,other than reserve balances,with F.R.Banks Treasury 5,864 + 856 - 2,241 7,174 Foreign 290 + 136 + 130 622 Service-related balances and adjustments (5) 9,136 + 380 + 2,439 9,136 Other 221 - 19 - 1 208 Other F.R. liabilities and capital 17,966 + 81 - 615 17,698 Total factors, other than reserve balances, absorbing reserve funds 664,514 + 4,993 + 47,140 669,861 Reserve balances with F.R. Banks (6) 9,250 + 2,628 + 3,410 5,903 On December 19, 2001, 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 $ 733,833 million, a change of $ + 346 million for the week. The total includes $ 600,626 million of U.S. government securities and $ 133,207 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 $ 18,807 million (daily average over statement week) and $ 18,728 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 18,807 million (daily average) and $ 18,728 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 2,926 million (daily average) and $ 2,204 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 9,711 million of inflation-indexed securities valued at the original face amount and $ 935 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 $ 8,583 million and adjustments of $ 553 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 Dec 19, 2001 Dec 12, 2001 Dec 20, 2000 ASSETS Gold certificate account 11,045 0 - 1 Special drawing rights certificate account 2,200 0 0 Coin 1,079 + 9 + 125 Loans 44 - 74 - 81 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 37,700 - 4,800 + 11,990 Federal agency obligations (2) Bought outright 10 0 - 120 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright--Bills 186,484 - 107 + 3,857 Notes (3) 265,920 + 2,074 + 26,791 Bonds (4) 103,179 + 92 + 10,396 Total bought outright (5) 555,584 + 2,060 + 41,045 Held under repurchase agreements 0 0 0 Total U.S. government securities 555,584 + 2,060 + 41,045 Total loans and securities 593,338 - 2,814 + 52,834 Items in process of collection (1,026) 9,101 - 968 - 3,233 Bank premises 1,518 0 + 66 Other assets (6) 35,527 + 591 + 1,807 TOTAL ASSETS (1,026) 653,807 - 3,182 + 51,597 LIABILITIES Federal Reserve notes 602,936 + 4,755 + 46,146 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 16,772 - 10,959 + 2,906 U.S. Treasury--general account 7,174 + 2,582 + 2,393 Foreign--official accounts 622 + 328 + 395 Other (0) 208 - 8 - 3 Total deposits (0) 24,775 - 8,059 + 5,691 Deferred availability cash items (1,026) 8,398 + 188 + 201 Other liabilities and accrued dividends (7) 2,605 - 59 - 1,770 TOTAL LIABILITIES (1,026) 638,714 - 3,175 + 50,268 CAPITAL ACCOUNTS Capital paid in 7,355 - 10 + 333 Surplus 6,725 - 3 + 4,046 Other capital accounts 1,012 + 5 - 3,051 *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 $ 5,739 million of inflation-indexed securities valued at the original face amount and $ 573 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 3,972 million of inflation-indexed securities valued at the original face amount and $ 362 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,728 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 2,204 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, December 19, 2001 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 40 21,405 + 5,465 0 0 25,700 0 16 days to 90 days 3 118,662 - 6,150 0 0 12,000 0 91 days to 1 year 0 131,635 + 2,044 0 0 ------ ------ Over 1 to 5 years 151,727 + 634 10 0 ------ ------ Over 5 to 10 years 53,317 + 70 0 0 ------ ------ Over 10 years 78,838 - 4 0 0 ------ ------ Total 44 555,584 + 2,060 10 0 37,700 0 1 Includes $ 9,711 million of inflation-indexed securities valued at the original face amount and $ 935 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 December 19, 2001 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco ASSETS Gold certificate account 11,045 546 4,451 454 538 741 871 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 1,079 56 68 42 63 168 121 120 60 34 72 130 146 Loans 44 4 0 0 1 0 3 12 3 4 8 0 9 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 37,700 0 37,700 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 186,484 11,204 76,390 7,660 10,918 11,141 12,823 21,121 6,721 582 5,756 3,381 18,788 Notes (3) 265,920 15,977 108,930 10,922 15,568 15,886 18,286 30,118 9,585 830 8,208 4,821 26,791 Bonds (4) 103,179 6,199 42,266 4,238 6,041 6,164 7,095 11,686 3,719 322 3,185 1,870 10,395 Total bought outright(5) 555,584 33,381 227,586 22,820 32,527 33,191 38,204 62,924 20,025 1,733 17,148 10,072 55,974 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 555,584 33,381 227,586 22,820 32,527 33,191 38,204 62,924 20,025 1,733 17,148 10,072 55,974 Total loans and securities 593,338 33,385 265,290 22,821 32,528 33,191 38,207 62,937 20,029 1,737 17,157 10,072 55,984 Items in process of collection 10,127 541 1,092 529 509 730 1,017 653 588 742 567 340 2,820 Bank premises 1,518 92 178 49 152 133 285 106 42 123 49 137 172 Other assets(6) 35,527 1,825 12,902 1,295 2,085 4,794 2,326 3,343 947 661 954 903 3,493 Interdistrict settlement account 0 - 2,690 -18,943 - 1,644 - 1,854 +10,920 + 5,553 + 4,629 + 182 +11,750 - 1,043 + 2,978 - 9,838 TOTAL ASSETS 654,833 33,869 265,911 23,629 34,124 50,824 48,545 73,028 22,262 15,220 18,139 15,136 54,147 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 $ 5,739 million of inflation-indexed securities valued at the original face amount and $ 573 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 3,972 million of inflation-indexed securities valued at the original face amount and $ 362 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,728 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 2,204 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 December 19, 2001 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco LIABILITIES Federal Reserve notes 602,936 31,306 249,555 21,731 30,463 44,296 45,127 67,625 21,172 13,862 16,714 13,628 47,458 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 16,772 925 3,274 764 1,677 1,962 1,179 2,728 385 437 550 669 2,220 U.S. Treasury--general account 7,174 0 7,174 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 622 2 598 1 2 7 2 3 1 1 1 1 3 Other 208 1 130 1 2 52 0 8 1 0 10 2 2 Total deposits 24,775 928 11,175 766 1,681 2,022 1,182 2,739 386 439 561 672 2,225 Deferred credit items 9,424 612 1,136 546 471 748 923 788 278 578 367 388 2,588 Other liabilities and accrued dividends (2) 2,605 165 829 118 157 240 217 277 111 65 105 90 230 TOTAL LIABILITIES 639,740 33,011 262,695 23,160 32,772 47,305 47,449 71,428 21,948 14,944 17,747 14,778 52,502 CAPITAL ACCOUNTS Capital paid in 7,355 418 1,504 221 665 1,756 534 775 149 180 191 163 798 Surplus 6,725 358 1,468 228 472 1,679 495 632 138 96 179 188 792 Other capital accounts 1,012 81 244 19 215 83 67 193 27 0 22 6 55 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 654,833 33,869 265,911 23,629 34,124 50,824 48,545 73,028 22,262 15,220 18,139 15,136 54,147 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 753,040 35,907 293,928 28,468 35,167 55,510 64,779 75,036 24,095 16,066 21,175 33,219 69,689 Less--Held by F.R. Banks 150,104 4,601 44,373 6,737 4,704 11,215 19,652 7,411 2,923 2,204 4,462 19,591 22,231 F.R. notes, net 602,936 31,306 249,555 21,731 30,463 44,296 45,127 67,625 21,172 13,862 16,714 13,628 47,458 Collateral held against F.R. notes Gold certificate account 11,045 Special drawing rights certificate account 2,200 Other eligible assets 0 U.S. govt. and agency securities(3) 589,691 Total collateral 602,936 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.