FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks February 13, 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 Feb 12, 2003 Feb 5, 2003 Feb 13, 2002 Feb 12, 2003 Federal Reserve Banks Reserve Bank Credit 691,408 - 3,074 + 63,591 691,740 Securities held outright 629,951 + 536 + 67,295 630,957 U.S. Treasury (1) 629,941 + 536 + 67,295 630,947 Bills (2) 226,941 + 259 + 38,651 227,238 Notes and bonds, nominal (2) 389,504 + 285 + 26,261 390,217 Notes and bonds, inflation-indexed (2) 12,242 0 + 2,056 12,242 Inflation compensation (3) 1,253 - 8 + 325 1,250 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 19,285 - 5,108 - 7,179 20,746 Loans to depository institutions 31 + 16 - 24 4 Primary credit 28 + 17 + 28 0 Secondary credit 0 0 0 0 Seasonal credit 3 - 1 - 21 4 Adjustment credit 0 0 - 31 0 Float 1,708 + 1,123 + 1,699 -507 Other Federal Reserve assets 40,434 + 360 + 1,801 40,539 Gold stock 11,043 0 - 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 34,612 + 14 + 1,122 34,612 Total factors supplying reserve funds 739,263 - 3,059 + 64,711 739,594 Currency in circulation(5) 678,441 + 2,663 + 43,424 681,197 Reverse repurchase agreements (6) 18,949 + 466 + 18,949 17,604 Foreign official and international accounts 17,878 - 605 + 17,878 17,604 Dealers 1,071 + 1,071 + 1,071 0 Treasury cash holdings 356 - 4 - 52 360 Deposits with F.R.Banks, other than reserve balances 15,954 - 502 + 1,067 14,777 U.S. Treasury, general account 4,681 - 711 - 295 3,527 Foreign official 115 + 7 - 199 103 Service-related 10,918 + 194 + 1,542 10,918 Required clearing balances 10,317 - 39 + 1,503 10,317 Adjustments to compensate for float 601 + 233 + 39 601 Other 239 + 7 + 17 228 Other liabilities and capital 19,450 - 63 + 1,735 19,265 Total factors, other than reserve balances, absorbing reserve funds 733,150 + 2,560 + 65,123 733,202 Reserve balances with Federal Reserve Banks 6,113 - 5,619 - 412 6,392 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 869,911 + 4,545 ------ 872,033 U.S. Treasury 697,819 + 1,819 ------ 698,215 Federal agency 172,092 + 2,725 ------ 173,818 Securities lent to dealers 987 + 579 - 668 1,513 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 Feb 12, 2003 Feb 5, 2003 Feb 13, 2002 Assets Gold certificate account 11,039 0 - 5 Special drawing rights certificate account 2,200 0 0 Coin 1,142 + 8 - 27 Securities, repurchase agreements, and loans 651,707 - 5,470 + 61,859 Securities held outright 630,957 + 1,546 + 66,630 U.S. Treasury (1) 630,947 + 1,546 + 66,630 Bills (2) 227,238 + 556 + 38,108 Notes and bonds, nominal (2) 390,217 + 998 + 26,139 Notes and bonds, inflation-indexed (2) 12,242 0 + 2,056 Inflation compensation (3) 1,250 - 7 + 327 Federal agency (2) 10 0 0 Repurchase agreements (4) 20,746 - 7,004 - 4,754 Loans 4 - 11 - 17 Items in process of collection (1,265) 7,829 - 1,130 + 795 Bank premises 1,541 + 2 + 30 Other assets (5) 38,833 + 222 + 1,473 Total assets (1,265) 714,292 - 6,367 + 64,125 Liabilities Federal Reserve notes net of FR Bank holdings 648,083 + 3,203 + 42,590 Reverse repurchase agreements (6) 17,604 - 382 + 17,604 Deposits (0) 21,565 - 8,249 + 1,885 Depository institutions 17,707 - 6,049 + 2,703 U.S. Treasury, general account 3,527 - 2,137 - 581 Foreign official 103 - 45 - 253 Other (0) 228 - 18 + 16 Deferred availability cash items (1,265) 7,775 - 929 + 383 Other liabilities and accrued dividends (7) 2,277 + 46 - 61 Total liabilities (1,265) 697,304 - 6,312 + 62,401 Capital Accounts Capital paid in 8,404 0 + 962 Surplus 8,357 - 23 + 1,087 Other capital accounts 227 - 33 - 325 Total capital 16,988 - 55 + 1,724 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, February 12, 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 0 44,507 - 1,474 0 0 15,746 17,604 16 days to 90 days 4 136,637 + 1,970 0 0 5,000 0 91 days to 1 year 0 142,780 + 537 10 0 ------ ------ Over 1 to 5 years ------ 175,832 + 398 0 0 ------ ------ Over 5 to 10 years ------ 51,356 + 117 0 0 ------ ------ Over 10 years ------ 79,834 - 3 0 0 ------ ------ All 4 630,947 + 1,546 10 0 20,746 17,604 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 February 12, 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 1,142 55 40 70 53 164 125 150 65 41 77 177 127 Securities, repurchase agreements, and loans 651,707 36,151 269,003 24,262 34,813 49,210 44,927 74,251 22,436 9,867 18,652 14,003 54,134 Securities held outright 630,957 36,150 248,257 24,262 34,813 49,210 44,927 74,251 22,435 9,863 18,651 14,003 54,134 U.S. Treasury (1) 630,947 36,150 248,253 24,262 34,812 49,209 44,926 74,250 22,435 9,863 18,651 14,003 54,133 Bills (2) 227,238 13,020 89,409 8,738 12,538 17,723 16,180 26,741 8,080 3,552 6,717 5,043 19,496 Notes and bonds(3) 403,709 23,130 158,844 15,524 22,275 31,486 28,746 47,509 14,355 6,311 11,934 8,960 34,637 Federal agency (2) 10 1 4 0 1 1 1 1 0 0 0 0 1 Repurchase agreements(4) 20,746 0 20,746 0 0 0 0 0 0 0 0 0 0 Loans 4 0 0 0 0 0 0 0 0 3 0 0 0 Items in process of collection 9,095 462 874 459 626 611 871 934 362 291 514 322 2,767 Bank premises 1,541 92 186 50 152 129 279 116 44 126 50 142 176 Other assets(5) 38,833 1,958 13,653 1,213 2,509 5,873 2,355 3,925 1,092 1,013 988 855 3,399 Interdistrict settlement account 0 - 8,012 +39,060 - 7,179 - 6,803 - 3,526 - 4,923 -17,397 - 3,934 + 3,651 - 1,893 +14,003 - 3,046 Total Assets 715,557 31,353 328,052 19,388 31,976 53,427 44,726 63,271 20,482 15,198 18,762 30,086 58,837 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 February 12, 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 761,536 32,798 334,391 25,040 32,296 53,935 58,144 63,521 21,878 14,963 21,188 36,110 67,273 Less: notes held by F.R. Banks 113,453 4,962 27,414 8,003 4,795 8,753 18,071 7,938 3,270 1,853 4,355 8,027 16,013 Federal Reserve notes, net 648,083 27,836 306,977 17,036 27,501 45,183 40,073 55,583 18,608 13,110 16,832 28,083 51,260 Reverse repurchase agreements (1) 17,604 1,009 6,926 677 971 1,373 1,253 2,072 626 275 520 391 1,510 Deposits 21,565 783 8,673 548 1,443 1,878 1,359 2,965 445 460 536 667 1,808 Depository institutions 17,707 780 4,924 547 1,439 1,792 1,357 2,961 444 459 534 665 1,805 U.S. Treasury, general account 3,527 0 3,527 0 0 0 0 0 0 0 0 0 0 Foreign official 103 2 79 1 3 7 2 3 1 1 1 1 3 Other 228 1 142 0 1 79 0 1 1 0 1 1 0 Deferred availability cash items 9,040 701 1,051 546 512 606 890 665 291 597 369 481 2,332 Other liabilities and accrued dividends (2) 2,277 138 686 102 127 256 183 241 102 78 92 88 184 Total liabilities 698,569 30,466 324,313 18,909 30,555 49,295 43,760 61,526 20,073 14,520 18,350 29,708 57,094 Capital Capital paid in 8,404 437 1,809 234 708 2,080 475 861 200 341 204 188 868 Surplus 8,357 436 1,809 233 702 2,052 475 858 199 337 201 186 868 Other capital 227 13 121 12 11 0 16 27 10 0 9 3 7 Total liabilities and capital 715,557 31,353 328,052 19,388 31,976 53,427 44,726 63,271 20,482 15,198 18,762 30,086 58,837 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 Feb 12, 2003 Federal Reserve notes, net of F.R. Bank holdings 648,083 Collateral held against Federal Reserve notes 648,083 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 634,094 Other eligible assets 751 Memo: Total U.S. Treasury and agency securities (1) 651,703 Less:face value of securities under reverse repurchase agreements 17,610 U.S. Treasury and agency securities eligible to be pledged 634,094 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.