FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks March 6, 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 Mar 5, 2003 Feb 26, 2003 Mar 6, 2002 Mar 5, 2003 Federal Reserve Banks Reserve Bank Credit 702,078 + 5,046 + 65,843 700,178 Securities held outright 636,873 + 1,941 + 68,353 637,149 U.S. Treasury (1) 636,863 + 1,941 + 68,353 637,139 Bills (2) 230,889 + 859 + 40,988 231,061 Notes and bonds, nominal (2) 392,496 + 1,084 + 25,474 392,593 Notes and bonds, inflation-indexed (2) 12,242 0 + 1,584 12,242 Inflation compensation (3) 1,236 - 2 + 308 1,242 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 27,136 + 3,815 - 5,256 23,250 Loans to depository institutions 29 + 16 + 3 11 Primary credit 24 + 14 + 24 1 Secondary credit 0 0 0 0 Seasonal credit 6 + 2 - 8 10 Adjustment credit 0 0 - 13 0 Float 468 - 837 + 842 1,868 Other Federal Reserve assets 37,573 + 113 + 1,902 37,901 Gold stock 11,043 0 - 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 34,723 + 14 + 1,174 34,723 Total factors supplying reserve funds 750,044 + 5,059 + 67,016 748,144 Currency in circulation(5) 682,400 + 113 + 43,857 683,692 Reverse repurchase agreements (6) 18,078 + 340 + 18,078 17,959 Foreign official and international accounts 18,078 + 340 + 18,078 17,959 Dealers 0 0 0 0 Treasury cash holdings 345 - 2 - 70 354 Deposits with F.R.Banks, other than reserve balances 16,029 - 480 + 1,137 16,566 U.S. Treasury, general account 4,909 - 340 - 564 5,501 Foreign official 186 + 75 + 62 105 Service-related 10,721 - 183 + 1,673 10,721 Required clearing balances 10,336 0 + 1,463 10,336 Adjustments to compensate for float 385 - 182 + 209 385 Other 212 - 33 - 36 238 Other liabilities and capital 19,805 - 159 + 1,798 19,693 Total factors, other than reserve balances, absorbing reserve funds 736,656 - 190 + 64,800 738,263 Reserve balances with Federal Reserve Banks 13,388 + 5,249 + 2,217 9,882 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 890,678 + 9,294 ------ 896,617 U.S. Treasury 712,354 + 7,639 ------ 717,786 Federal agency 178,324 + 1,654 ------ 178,831 Securities lent to dealers 479 + 153 - 250 120 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 Mar 5, 2003 Feb 26, 2003 Mar 6, 2002 Assets Gold certificate account 11,039 0 - 5 Special drawing rights certificate account 2,200 0 0 Coin 1,080 - 20 - 31 Securities, repurchase agreements, and loans 660,409 - 1,352 + 55,031 Securities held outright 637,149 + 1,143 + 67,048 U.S. Treasury (1) 637,139 + 1,143 + 67,048 Bills (2) 231,061 + 455 + 40,090 Notes and bonds, nominal (2) 392,593 + 680 + 25,063 Notes and bonds, inflation-indexed (2) 12,242 0 + 1,584 Inflation compensation (3) 1,242 + 7 + 311 Federal agency (2) 10 0 0 Repurchase agreements (4) 23,250 - 2,500 - 11,999 Loans 11 + 5 - 17 Items in process of collection (1,143) 10,984 + 1,787 + 2,358 Bank premises 1,555 - 2 + 46 Other assets (5) 36,380 + 250 + 1,769 Total assets (1,143) 723,648 + 664 + 59,168 Liabilities Federal Reserve notes net of FR Bank holdings 650,398 + 728 + 42,037 Reverse repurchase agreements (6) 17,959 + 538 + 17,959 Deposits (0) 26,825 - 2,073 - 2,737 Depository institutions 20,980 - 2,576 - 2,857 U.S. Treasury, general account 5,501 + 551 + 91 Foreign official 105 - 49 + 30 Other (0) 238 0 - 3 Deferred availability cash items (1,143) 8,773 + 1,477 + 468 Other liabilities and accrued dividends (7) 2,250 - 26 - 123 Total liabilities (1,143) 706,205 + 644 + 57,604 Capital Accounts Capital paid in 8,478 + 38 + 842 Surplus 8,380 0 + 1,107 Other capital accounts 584 - 19 - 386 Total capital 17,442 + 19 + 1,563 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, March 5, 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 1 35,519 - 9,556 0 0 20,250 17,959 16 days to 90 days 10 140,723 + 7,024 0 0 3,000 0 91 days to 1 year 0 149,160 + 2,408 10 0 ------ ------ Over 1 to 5 years ------ 180,176 + 1,194 0 0 ------ ------ Over 5 to 10 years ------ 51,730 + 71 0 0 ------ ------ Over 10 years ------ 79,831 + 3 0 0 ------ ------ All 11 637,139 + 1,143 10 0 23,250 17,959 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 March 5, 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 1,080 51 38 71 48 151 108 142 60 41 72 173 126 Securities, repurchase agreements, and loans 660,409 36,505 273,943 24,500 35,155 49,693 45,368 74,984 22,656 9,966 18,834 14,141 54,666 Securities held outright 637,149 36,505 250,693 24,500 35,155 49,693 45,368 74,980 22,656 9,960 18,834 14,141 54,665 U.S. Treasury (1) 637,139 36,505 250,689 24,500 35,154 49,692 45,367 74,979 22,655 9,960 18,834 14,140 54,664 Bills (2) 231,061 13,239 90,914 8,885 12,749 18,021 16,452 27,191 8,216 3,612 6,830 5,128 19,824 Notes and bonds(3) 406,078 23,266 159,776 15,615 22,405 31,671 28,914 47,787 14,439 6,348 12,004 9,012 34,840 Federal agency (2) 10 1 4 0 1 1 1 1 0 0 0 0 1 Repurchase agreements(4) 23,250 0 23,250 0 0 0 0 0 0 0 0 0 0 Loans 11 0 0 0 0 0 0 4 0 5 0 0 1 Items in process of collection 12,127 680 718 698 799 783 1,262 1,314 576 617 827 547 3,306 Bank premises 1,555 91 186 50 152 143 278 116 44 127 50 142 175 Other assets(5) 36,380 1,921 12,569 1,109 2,382 5,754 2,163 3,610 998 983 909 799 3,185 Interdistrict settlement account 0 - 8,398 +40,024 - 7,321 - 7,107 - 3,399 - 4,977 -19,558 - 4,256 + 3,705 - 1,459 +13,925 - 1,178 Total Assets 724,791 31,498 332,715 19,620 32,055 54,091 45,294 61,900 20,495 15,647 19,608 30,310 61,560 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 March 5, 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 763,522 32,580 336,007 24,971 32,033 53,766 58,797 63,065 21,862 15,122 21,395 35,836 68,089 Less: notes held by F.R. Banks 113,124 4,894 27,935 7,703 4,628 8,756 18,937 7,990 3,489 1,680 4,260 7,658 15,194 Federal Reserve notes, net 650,398 27,686 308,072 17,268 27,404 45,010 39,860 55,075 18,373 13,443 17,135 28,178 52,895 Reverse repurchase agreements (1) 17,959 1,029 7,066 691 991 1,401 1,279 2,113 639 281 531 399 1,541 Deposits 26,825 1,006 11,978 567 1,511 2,526 2,039 1,968 665 508 862 723 2,472 Depository institutions 20,980 1,001 6,235 566 1,508 2,451 2,037 1,964 662 507 860 721 2,468 U.S. Treasury, general account 5,501 0 5,501 0 0 0 0 0 0 0 0 0 0 Foreign official 105 2 82 1 3 7 2 3 1 1 1 1 3 Other 238 4 160 0 0 68 0 0 2 0 1 1 0 Deferred availability cash items 9,916 738 1,014 493 587 671 952 724 301 640 569 540 2,689 Other liabilities and accrued dividends (2) 2,250 137 681 101 129 250 184 235 100 78 91 87 178 Total liabilities 707,348 30,597 328,811 19,119 30,622 49,857 44,313 60,115 20,078 14,949 19,187 29,926 59,774 Capital Capital paid in 8,478 437 1,854 250 699 2,092 475 862 200 343 204 188 873 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 584 27 241 18 31 68 32 65 18 15 16 10 44 Total liabilities and capital 724,791 31,498 332,715 19,620 32,055 54,091 45,294 61,900 20,495 15,647 19,608 30,310 61,560 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 Mar 5, 2003 Federal Reserve notes, net of F.R. Bank holdings 650,398 Collateral held against Federal Reserve notes 650,398 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 637,159 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities (1) 660,399 Less:face value of securities under reverse repurchase agreements 17,965 U.S. Treasury and agency securities eligible to be pledged 642,433 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.