FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks April 17, 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 16, 2003 Apr 9, 2003 Apr 17, 2002 Apr 16, 2003 Federal Reserve Banks Reserve Bank Credit 711,299 + 6,886 + 67,312 723,333 Securities held outright 645,669 + 1,729 + 67,327 646,795 U.S. Treasury (1) 645,659 + 1,729 + 67,327 646,785 Bills (2) 235,713 + 668 + 43,012 235,814 Notes and bonds, nominal (2) 395,760 + 1,035 + 22,269 396,776 Notes and bonds, inflation-indexed (2) 12,814 0 + 1,684 12,814 Inflation compensation (3) 1,371 + 26 + 361 1,380 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 26,821 + 4,928 - 1,379 38,000 Loans to depository institutions 36 + 7 - 16 46 Primary credit 16 + 3 + 16 23 Secondary credit 0 0 0 0 Seasonal credit 20 + 4 - 28 23 Adjustment credit 0 0 - 4 0 Float -273 - 227 + 451 -614 Other Federal Reserve assets 39,046 + 449 + 929 39,106 Gold stock 11,043 0 - 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 34,794 + 14 + 1,123 34,794 Total factors supplying reserve funds 759,336 + 6,900 + 68,434 771,370 Currency in circulation(5) 687,584 + 650 + 43,748 688,893 Reverse repurchase agreements (6) 20,745 + 92 + 20,745 19,801 Foreign official and international accounts 20,745 + 414 + 20,745 19,801 Dealers 0 - 321 0 0 Treasury cash holdings 357 + 4 - 46 361 Deposits with F.R.Banks, other than reserve balances 17,811 - 859 + 1,443 20,137 U.S. Treasury, general account 6,470 - 58 + 513 8,821 Foreign official 120 + 2 + 4 101 Service-related 10,979 - 764 + 926 10,979 Required clearing balances 10,820 0 + 1,001 10,820 Adjustments to compensate for float 160 - 763 - 73 160 Other 241 - 40 - 1 236 Other liabilities and capital 19,941 + 81 + 1,205 19,871 Total factors, other than reserve balances, absorbing reserve funds 746,439 - 30 + 67,096 749,063 Reserve balances with Federal Reserve Banks 12,897 + 6,930 + 1,339 22,308 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 898,198 - 368 ------ 892,976 U.S. Treasury 720,056 - 526 ------ 717,312 Federal agency 178,143 + 159 ------ 175,665 Securities lent to dealers 450 + 134 - 165 824 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 16, 2003 Apr 9, 2003 Apr 17, 2002 Assets Gold certificate account 11,038 0 - 6 Special drawing rights certificate account 2,200 0 0 Coin 1,056 - 22 + 38 Securities, repurchase agreements, and loans 684,841 + 18,474 + 77,535 Securities held outright 646,795 + 1,711 + 66,739 U.S. Treasury (1) 646,785 + 1,711 + 66,739 Bills (2) 235,814 + 264 + 42,013 Notes and bonds, nominal (2) 396,776 + 1,422 + 22,677 Notes and bonds, inflation-indexed (2) 12,814 0 + 1,684 Inflation compensation (3) 1,380 + 25 + 365 Federal agency (2) 10 0 0 Repurchase agreements (4) 38,000 + 16,750 + 10,800 Loans 46 + 13 - 5 Items in process of collection (1,224) 8,284 - 759 + 419 Bank premises 1,559 + 1 + 45 Other assets (5) 37,802 + 306 + 1,220 Total assets (1,224) 746,781 + 18,001 + 79,252 Liabilities Federal Reserve notes net of FR Bank holdings 655,512 + 408 + 43,042 Reverse repurchase agreements (6) 19,801 - 490 + 19,801 Deposits (-1) 42,795 + 17,486 + 14,757 Depository institutions 33,637 + 15,579 + 13,646 U.S. Treasury, general account 8,821 + 1,949 + 1,081 Foreign official 101 - 1 + 25 Other (-1) 236 - 41 + 5 Deferred availability cash items (1,225) 8,803 + 343 + 340 Other liabilities and accrued dividends (7) 2,239 - 25 - 154 Total liabilities (1,224) 729,149 + 17,722 + 77,785 Capital Accounts Capital paid in 8,522 + 1 + 517 Surplus 8,380 0 + 1,098 Other capital accounts 729 + 277 - 149 Total capital 17,632 + 280 + 1,467 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 16, 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 45 49,663 + 10,126 0 0 34,000 19,801 16 days to 90 days 1 129,782 - 9,799 0 0 4,000 0 91 days to 1 year 0 153,573 + 1,358 10 0 ------ ------ Over 1 to 5 years ------ 181,526 + 7 0 0 ------ ------ Over 5 to 10 years ------ 52,309 + 8 0 0 ------ ------ Over 10 years ------ 79,932 + 11 0 0 ------ ------ All 46 646,785 + 1,711 10 0 38,000 19,801 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 16, 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 1,056 50 39 77 42 140 98 134 61 42 72 167 132 Securities, repurchase agreements, and loans 684,841 31,270 314,720 20,221 30,307 49,741 43,718 65,360 20,357 14,448 17,386 25,348 51,966 Securities held outright 646,795 31,270 276,720 20,221 30,307 49,741 43,695 65,359 20,349 14,437 17,382 25,348 51,966 U.S. Treasury (1) 646,785 31,269 276,715 20,221 30,307 49,740 43,694 65,358 20,349 14,437 17,382 25,347 51,965 Bills (2) 235,814 11,401 100,889 7,373 11,050 18,135 15,931 23,829 7,419 5,264 6,337 9,241 18,946 Notes and bonds(3) 410,971 19,869 175,826 12,849 19,257 31,605 27,764 41,529 12,930 9,173 11,045 16,106 33,019 Federal agency (2) 10 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements(4) 38,000 0 38,000 0 0 0 0 0 0 0 0 0 0 Loans 46 0 0 0 0 0 23 1 8 10 4 0 0 Items in process of collection 9,509 463 667 509 389 700 762 720 456 479 713 541 3,110 Bank premises 1,559 91 185 50 152 144 278 117 44 126 51 144 176 Other assets(5) 37,802 1,786 13,771 1,084 2,312 5,807 2,205 3,513 980 1,110 905 1,112 3,216 Interdistrict settlement account 0 - 2,302 +10,232 - 2,565 - 876 + 779 - 2,920 - 7,303 - 797 - 607 - 4 + 2,839 + 3,525 Total Assets 748,005 31,969 345,193 19,840 32,907 58,264 45,170 63,735 21,503 15,852 19,492 30,756 63,323 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 16, 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 763,918 32,234 337,792 24,501 31,575 54,050 59,147 63,002 22,121 15,043 21,265 35,237 67,952 Less: notes held by F.R. Banks 108,406 4,758 27,107 7,277 4,350 8,519 19,996 6,995 3,454 1,380 4,241 7,032 13,296 Federal Reserve notes, net 655,512 27,476 310,685 17,224 27,225 45,530 39,151 56,007 18,667 13,662 17,024 28,205 54,655 Reverse repurchase agreements (1) 19,801 957 8,471 619 928 1,523 1,338 2,001 623 442 532 776 1,591 Deposits 42,794 1,846 20,310 843 2,708 6,000 2,474 2,970 1,349 575 850 667 2,202 Depository institutions 33,637 1,843 11,257 842 2,704 5,923 2,473 2,966 1,344 574 848 665 2,199 U.S. Treasury, general account 8,821 0 8,821 0 0 0 0 0 0 0 0 0 0 Foreign official 101 2 77 1 3 7 2 3 1 1 1 1 3 Other 235 2 154 0 2 70 -1 1 4 0 1 1 0 Deferred availability cash items 10,028 647 1,043 542 489 755 1,038 734 336 379 579 606 2,878 Other liabilities and accrued dividends (2) 2,239 127 704 92 124 245 180 219 96 89 85 105 174 Total liabilities 730,374 31,054 341,213 19,320 31,474 54,054 44,180 61,930 21,071 15,148 19,070 30,358 61,501 Capital Capital paid in 8,522 444 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 729 34 294 36 30 69 39 74 27 20 17 22 67 Total liabilities and capital 748,005 31,969 345,193 19,840 32,907 58,264 45,170 63,735 21,503 15,852 19,492 30,756 63,323 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 16, 2003 Federal Reserve notes, net of F.R. Bank holdings 655,512 Collateral held against Federal Reserve notes 655,512 Gold certificate account 11,038 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 642,274 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities (1) 684,795 Less:face value of securities under reverse repurchase agreements 19,807 U.S. Treasury and agency securities eligible to be pledged 664,988 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.