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 May 9, 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 May 8, 2002 May 1, 2002 May 9, 2001 May 8, 2002 Reserve Bank Credit 641,535 - 5,853 + 61,534 643,085 U.S. government securities (1) Bought outright-system account (2,3) 582,167 + 1,248 + 57,453 583,672 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) 19,929 - 7,500 + 2,496 19,000 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 5 - 7 - 3 2 Seasonal credit 94 + 27 + 25 89 Extended credit 0 0 0 0 Float 66 + 265 - 191 940 Other F.R. assets 39,265 + 114 + 1,754 39,371 Gold stock 11,044 0 - 2 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 33,675 + 14 + 1,228 33,675 Total factors supplying reserve funds 688,453 - 5,839 + 62,759 690,003 Currency in circulation* 646,424 + 2,206 + 56,706 648,573 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 396 + 3 - 122 407 Deposits,other than reserve balances,with F.R.Banks Treasury 5,145 - 1,801 + 92 5,452 Foreign 87 - 3 + 12 82 Service-related balances and adjustments (5) 10,129 + 117 + 3,252 10,129 Other 260 + 23 - 105 251 Other F.R. liabilities and capital 19,123 + 79 + 1,089 18,754 Total factors, other than reserve balances, absorbing reserve funds 681,565 + 625 + 60,924 683,649 Reserve balances with F.R. Banks (6) 6,888 - 6,464 + 1,835 6,353 On May 8, 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 $ 742,477 million, a change of $ + 470 million for the week. The total includes $ 595,294 million of U.S. government securities and $ 147,183 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 $ 20,021 million (daily average over statement week) and $ 18,638 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 20,021 million (daily average) and $ 18,638 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 585 million (daily average) and $ 370 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,089 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 $ 9,861 million and adjustments of $ 268 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 May 8, 2002 May 1, 2002 May 9, 2001 ASSETS Gold certificate account 11,044 0 - 2 Special drawing rights certificate account 2,200 0 0 Coin 973 - 9 - 137 Loans 92 - 4 - 3 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 19,000 - 15,500 + 3,993 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright--Bills 194,812 + 2,796 + 15,904 Notes (3) 283,545 + 9 + 34,176 Bonds (4) 105,315 + 7 + 7,150 Total bought outright (5) 583,672 + 2,812 + 57,230 Held under repurchase agreements 0 0 0 Total U.S. government securities 583,672 + 2,812 + 57,230 Total loans and securities 602,774 - 12,693 + 61,220 Items in process of collection (1,132) 8,527 - 60 - 384 Bank premises 1,514 + 2 + 15 Other assets (6) 37,644 + 369 + 1,589 TOTAL ASSETS (1,132) 664,674 - 12,392 + 62,299 LIABILITIES Federal Reserve notes 616,279 + 2,255 + 55,767 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 16,169 - 14,785 + 4,929 U.S. Treasury--general account 5,452 + 1,129 + 1,025 Foreign--official accounts 82 - 10 - 7 Other (3) 251 + 39 - 104 Total deposits (3) 21,955 - 13,627 + 5,845 Deferred availability cash items (1,129) 7,686 - 906 - 381 Other liabilities and accrued dividends (7) 2,415 + 42 - 1,046 TOTAL LIABILITIES (1,132) 648,335 - 12,236 + 60,184 CAPITAL ACCOUNTS Capital paid in 8,101 + 45 + 1,056 Surplus 7,303 + 3 + 824 Other capital accounts 936 - 203 + 235 *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 $ 6,591 million of inflation-indexed securities valued at the original face amount and $ 643 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,011 million of inflation-indexed securities valued at the original face amount and $ 446 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,638 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 370 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, May 8, 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 14 27,663 + 5,142 0 0 14,000 0 16 days to 90 days 78 125,948 + 3,210 0 0 5,000 0 91 days to 1 year 0 133,193 - 5,555 0 0 ------ ------ Over 1 to 5 years 161,355 + 2 10 0 ------ ------ Over 5 to 10 years 54,005 + 6 0 0 ------ ------ Over 10 years 81,509 + 7 0 0 ------ ------ Total 92 583,672 + 2,812 10 0 19,000 0 1 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,089 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 May 8, 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 11,044 533 4,369 430 522 819 926 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 973 55 52 51 50 130 88 123 55 38 69 125 137 Loans 92 7 0 0 0 0 0 32 6 37 9 0 2 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 19,000 0 19,000 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 194,812 11,162 76,651 7,491 10,749 15,194 13,871 22,926 6,927 3,045 5,759 4,324 16,714 Notes (3) 283,545 16,246 111,564 10,903 15,645 22,114 20,190 33,368 10,082 4,433 8,382 6,293 24,327 Bonds (4) 105,315 6,034 41,437 4,050 5,811 8,214 7,499 12,393 3,745 1,646 3,113 2,337 9,036 Total bought outright(5) 583,672 33,441 229,652 22,444 32,204 45,522 41,560 68,687 20,754 9,124 17,253 12,954 50,077 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 583,672 33,441 229,652 22,444 32,204 45,522 41,560 68,687 20,754 9,124 17,253 12,954 50,077 Total loans and securities 602,774 33,448 248,656 22,444 32,205 45,523 41,560 68,720 20,760 9,161 17,262 12,954 50,079 Items in process of collection 9,659 293 1,158 403 490 615 838 789 631 610 647 454 2,731 Bank premises 1,514 92 181 49 152 131 280 108 43 123 49 136 171 Other assets(6) 37,644 1,978 13,366 1,254 2,484 5,267 2,540 3,907 1,022 642 998 831 3,355 Interdistrict settlement account 0 - 2,619 + 3,565 - 2,512 - 3,743 + 799 + 770 - 3,178 - 1,310 + 4,524 - 452 + 7,936 - 3,780 TOTAL ASSETS 665,806 33,894 272,222 22,202 32,264 53,431 47,169 71,761 21,619 15,307 18,948 23,018 53,973 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 $ 6,591 million of inflation-indexed securities valued at the original face amount and $ 643 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,011 million of inflation-indexed securities valued at the original face amount and $ 446 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,638 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 370 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 May 8, 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 616,279 30,577 258,134 20,625 29,064 46,955 43,904 66,062 20,237 13,747 17,396 21,564 48,013 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 16,169 1,659 3,196 517 1,274 1,263 1,147 3,149 601 562 656 608 1,538 U.S. Treasury--general account 5,452 0 5,452 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 82 2 58 1 3 7 2 3 1 1 1 1 3 Other 255 11 134 0 0 101 0 1 2 0 1 4 0 Total deposits 21,958 1,672 8,840 518 1,277 1,371 1,149 3,153 604 563 658 612 1,542 Deferred credit items 8,815 620 961 492 360 679 907 638 265 500 404 410 2,576 Other liabilities and accrued dividends (2) 2,415 146 741 107 143 251 196 259 106 80 96 92 197 TOTAL LIABILITIES 649,466 33,016 268,677 21,742 30,844 49,256 46,156 70,112 21,212 14,890 18,555 22,678 52,327 CAPITAL ACCOUNTS Capital paid in 8,101 430 1,682 223 722 2,114 451 801 205 306 191 167 808 Surplus 7,303 418 1,504 221 665 1,757 535 793 149 110 191 164 796 Other capital accounts 936 29 358 16 33 303 27 55 53 0 11 9 42 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 665,806 33,894 272,222 22,202 32,264 53,431 47,169 71,761 21,619 15,307 18,948 23,018 53,973 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 749,316 35,167 299,965 27,460 33,825 57,114 61,487 72,841 23,773 15,946 21,224 33,975 66,537 Less--Held by F.R. Banks 133,037 4,590 41,832 6,835 4,761 10,159 17,584 6,779 3,536 2,198 3,829 12,411 18,524 F.R. notes, net 616,279 30,577 258,134 20,625 29,064 46,955 43,904 66,062 20,237 13,747 17,396 21,564 48,013 Collateral held against F.R. notes Gold certificate account 11,044 Special drawing rights certificate account 2,200 Other eligible assets 353 U.S. govt. and agency securities(3) 602,682 Total collateral 616,279 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.