FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks April 10, 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 Apr 9, 2003 Apr 2, 2003 Apr 10, 2002 Apr 9, 2003 Federal Reserve Banks Reserve Bank Credit 704,413 - 3,420 + 65,636 705,762 Securities held outright 643,940 + 2,629 + 67,137 645,084 U.S. Treasury (1) 643,930 + 2,629 + 67,137 645,074 Bills (2) 235,045 + 2,501 + 42,655 235,550 Notes and bonds, nominal (2) 394,725 + 104 + 21,941 395,354 Notes and bonds, inflation-indexed (2) 12,814 0 + 2,156 12,814 Inflation compensation (3) 1,345 + 23 + 384 1,355 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 21,893 - 6,571 - 2,500 21,250 Loans to depository institutions 29 + 18 - 13 33 Primary credit 13 + 9 + 13 15 Secondary credit 0 0 0 0 Seasonal credit 16 + 9 - 26 18 Adjustment credit 0 0 - 1 0 Float -46 + 549 + 139 622 Other Federal Reserve assets 38,597 - 45 + 873 38,773 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 + 1,071 34,723 Total factors supplying reserve funds 752,379 - 3,406 + 66,707 753,728 Currency in circulation(5) 686,876 + 1,080 + 42,833 688,397 Reverse repurchase agreements (6) 20,653 + 1,362 + 20,653 20,291 Foreign official and international accounts 20,331 + 1,040 + 20,331 20,291 Dealers 321 + 321 + 321 0 Treasury cash holdings 353 - 17 - 47 357 Deposits with F.R.Banks, other than reserve balances 18,670 + 1,411 + 3,210 18,994 U.S. Treasury, general account 6,528 + 874 + 1,520 6,872 Foreign official 118 - 5 + 16 102 Service-related 11,743 + 485 + 1,671 11,743 Required clearing balances 10,820 - 152 + 1,001 10,820 Adjustments to compensate for float 923 + 638 + 670 923 Other 281 + 56 + 3 277 Other liabilities and capital 19,860 - 103 + 1,128 19,616 Total factors, other than reserve balances, absorbing reserve funds 746,412 + 3,733 + 67,778 747,654 Reserve balances with Federal Reserve Banks 5,967 - 7,139 - 1,071 6,074 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 898,566 + 1,504 ------ 898,299 U.S. Treasury 720,582 + 2,996 ------ 719,571 Federal agency 177,984 - 1,492 ------ 178,728 Securities lent to dealers 316 - 1,551 - 382 972 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 Apr 9, 2003 Apr 2, 2003 Apr 10, 2002 Assets Gold certificate account 11,038 0 - 6 Special drawing rights certificate account 2,200 0 0 Coin 1,078 - 14 + 42 Securities, repurchase agreements, and loans 666,367 - 5,631 + 65,823 Securities held outright 645,084 + 3,602 + 67,588 U.S. Treasury (1) 645,074 + 3,602 + 67,588 Bills (2) 235,550 + 2,842 + 42,473 Notes and bonds, nominal (2) 395,354 + 733 + 22,570 Notes and bonds, inflation-indexed (2) 12,814 0 + 2,156 Inflation compensation (3) 1,355 + 26 + 388 Federal agency (2) 10 0 0 Repurchase agreements (4) 21,250 - 9,250 - 1,750 Loans 33 + 18 - 16 Items in process of collection (1,150) 9,043 + 667 + 1,055 Bank premises 1,558 + 1 + 45 Other assets (5) 37,496 + 350 + 1,259 Total assets (1,150) 728,780 - 4,627 + 68,218 Liabilities Federal Reserve notes net of FR Bank holdings 655,104 + 744 + 42,397 Reverse repurchase agreements (6) 20,291 + 562 + 20,291 Deposits (0) 25,309 - 5,274 + 3,921 Depository institutions 18,058 - 5,946 + 1,989 U.S. Treasury, general account 6,872 + 673 + 2,089 Foreign official 102 - 1 - 167 Other (0) 277 0 + 10 Deferred availability cash items (1,150) 8,460 - 554 + 588 Other liabilities and accrued dividends (7) 2,264 + 46 - 199 Total liabilities (1,150) 711,427 - 4,477 + 66,997 Capital Accounts Capital paid in 8,521 + 7 + 514 Surplus 8,380 0 + 1,106 Other capital accounts 452 - 157 - 398 Total capital 17,352 - 151 + 1,220 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, April 9, 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 26 39,537 + 1,776 0 0 17,250 20,291 16 days to 90 days 8 139,581 - 186 0 0 4,000 0 91 days to 1 year 0 152,215 + 1,253 10 0 ------ ------ Over 1 to 5 years ------ 181,519 + 740 0 0 ------ ------ Over 5 to 10 years ------ 52,301 + 8 0 0 ------ ------ Over 10 years ------ 79,921 + 10 0 0 ------ ------ All 33 645,074 + 3,602 10 0 21,250 20,291 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 April 9, 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 11,038 495 4,705 380 477 808 863 982 331 224 303 507 963 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 1,078 50 39 80 44 147 100 136 62 42 71 169 136 Securities, repurchase agreements, and loans 666,367 31,191 297,237 20,168 30,227 49,609 43,579 65,187 20,302 14,407 17,339 25,282 51,839 Securities held outright 645,084 31,187 275,987 20,168 30,227 49,609 43,579 65,186 20,295 14,399 17,336 25,281 51,829 U.S. Treasury (1) 645,074 31,186 275,983 20,168 30,227 49,608 43,579 65,185 20,295 14,399 17,336 25,280 51,828 Bills (2) 235,550 11,388 100,776 7,364 11,037 18,115 15,913 23,802 7,411 5,258 6,330 9,231 18,925 Notes and bonds(3) 409,523 19,799 175,207 12,803 19,189 31,494 27,666 41,382 12,884 9,141 11,006 16,049 32,903 Federal agency (2) 10 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements(4) 21,250 0 21,250 0 0 0 0 0 0 0 0 0 0 Loans 33 4 0 0 0 0 0 1 7 7 3 2 10 Items in process of collection 10,193 523 764 801 736 816 774 632 430 645 591 582 2,900 Bank premises 1,558 91 185 50 152 144 278 117 44 126 51 144 176 Other assets(5) 37,496 1,732 13,679 1,076 2,297 5,756 2,197 3,491 970 1,101 900 1,105 3,192 Interdistrict settlement account 0 - 2,435 +17,859 - 2,632 - 2,665 - 2,357 - 3,841 - 7,658 - 1,459 - 683 - 163 + 2,797 + 3,237 Total Assets 729,929 31,761 335,344 20,006 31,371 55,069 44,115 63,098 20,752 15,892 19,158 30,685 62,678 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 April 9, 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 764,965 32,270 338,293 24,647 31,645 53,964 59,339 62,974 22,065 15,067 21,322 35,336 68,043 Less: notes held by F.R. Banks 109,861 4,747 27,964 7,347 4,411 8,628 20,037 7,178 3,394 1,344 4,323 7,058 13,430 Federal Reserve notes, net 655,104 27,522 310,329 17,299 27,234 45,336 39,302 55,797 18,672 13,723 16,999 28,277 54,612 Reverse repurchase agreements (1) 20,291 981 8,681 634 951 1,560 1,371 2,050 638 453 545 795 1,630 Deposits 25,309 1,606 10,647 789 1,076 3,073 1,348 2,532 592 489 717 627 1,813 Depository institutions 18,058 1,603 3,539 787 1,073 2,955 1,346 2,529 587 487 715 626 1,810 U.S. Treasury, general account 6,872 0 6,872 0 0 0 0 0 0 0 0 0 0 Foreign official 102 2 79 1 3 7 2 3 1 1 1 1 3 Other 277 1 158 0 0 111 0 0 5 0 1 1 0 Deferred availability cash items 9,609 617 1,061 678 572 707 939 715 336 449 391 495 2,650 Other liabilities and accrued dividends (2) 2,264 130 713 94 123 248 183 222 97 86 86 105 176 Total liabilities 712,577 30,857 331,431 19,494 29,956 50,924 43,143 61,316 20,335 15,200 18,738 30,300 60,882 Capital Capital paid in 8,521 444 1,877 251 700 2,069 476 874 206 345 204 189 887 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 452 24 226 28 13 3 22 51 13 7 15 10 40 Total liabilities and capital 729,929 31,761 335,344 20,006 31,371 55,069 44,115 63,098 20,752 15,892 19,158 30,685 62,678 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 Apr 9, 2003 Federal Reserve notes, net of F.R. Bank holdings 655,104 Collateral held against Federal Reserve notes 655,104 Gold certificate account 11,038 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 641,865 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities (1) 666,334 Less:face value of securities under reverse repurchase agreements 20,299 U.S. Treasury and agency securities eligible to be pledged 646,035 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.