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 July 18, 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 Jul 17, 2002 Jul 10, 2002 Jul 18, 2001 Jul 17, 2002 Reserve Bank Credit 656,753 - 1,406 + 64,885 653,900 U.S. government securities (1) Bought outright-system account (2,3) 592,513 - 113 + 58,273 594,411 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) 24,571 - 1,286 + 4,842 19,750 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 2 - 40 - 162 3 Seasonal credit 177 + 10 + 1 184 Extended credit 0 0 0 0 Float -310 - 811 - 678 -266 Other F.R. assets 39,789 + 835 + 2,607 39,808 Gold stock 11,044 0 0 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 33,955 + 14 + 1,257 33,955 Total factors supplying reserve funds 703,952 - 1,392 + 66,143 701,099 Currency in circulation* 661,400 - 2,644 + 60,311 661,286 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 392 + 4 - 20 377 Deposits,other than reserve balances,with F.R.Banks Treasury 5,495 + 510 + 558 5,000 Foreign 98 - 1 + 23 156 Service-related balances and adjustments (5) 10,118 - 5 + 3,042 10,118 Other 244 + 16 - 81 230 Other F.R. liabilities and capital 19,910 + 335 + 1,983 19,578 Total factors, other than reserve balances, absorbing reserve funds 697,657 - 1,786 + 65,815 696,746 Reserve balances with F.R. Banks (6) 6,295 + 394 + 328 4,353 On July 17, 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 $ 792,037 million, a change of $ + 1,462 million for the week. The total includes $ 638,404 million of U.S. government securities and $ 153,633 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 $ 24,755 million (daily average over statement week) and $ 22,977 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 24,755 million (daily average) and $ 22,977 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 889 million (daily average) and $ 2,109 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 11,712 million of inflation-indexed securities valued at the original face amount and $ 1,105 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 $ 9,902 million and adjustments of $ 217 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 Jul 17, 2002 Jul 10, 2002 Jul 18, 2001 ASSETS Gold certificate account 11,039 0 - 5 Special drawing rights certificate account 2,200 0 0 Coin 897 + 12 - 182 Loans 187 - 11 - 274 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 19,750 - 7,250 + 2,900 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright--Bills 198,604 - 120 + 18,605 Notes (3) 290,167 0 + 34,812 Bonds (4) 105,640 0 + 4,892 Total bought outright (5) 594,411 - 120 + 58,309 Held under repurchase agreements 0 0 0 Total U.S. government securities 594,411 - 120 + 58,309 Total loans and securities 614,358 - 7,381 + 60,935 Items in process of collection (1,111) 7,207 - 595 - 2,268 Bank premises 1,520 + 1 + 7 Other assets (6) 38,286 + 347 + 2,585 TOTAL ASSETS (1,111) 675,508 - 7,616 + 61,072 LIABILITIES Federal Reserve notes 628,601 - 2,772 + 57,980 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 14,257 - 4,904 + 1,799 U.S. Treasury--general account 5,000 - 194 - 619 Foreign--official accounts 156 + 72 + 86 Other (0) 230 + 9 - 91 Total deposits (0) 19,643 - 5,017 + 1,176 Deferred availability cash items (1,111) 7,685 + 153 + 27 Other liabilities and accrued dividends (7) 2,365 - 17 - 665 TOTAL LIABILITIES (1,111) 658,295 - 7,652 + 58,519 CAPITAL ACCOUNTS Capital paid in 8,261 - 7 + 1,108 Surplus 7,312 0 + 591 Other capital accounts 1,641 + 43 + 855 *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 $ 6,701 million of inflation-indexed securities valued at the original face amount and $ 605 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 $ 501 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 22,977 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 2,109 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, July 17, 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 170 20,434 + 4,365 0 0 15,750 0 16 days to 90 days 17 131,640 - 7,000 0 0 4,000 0 91 days to 1 year 0 137,332 + 1,506 0 0 ------ ------ Over 1 to 5 years 169,944 0 10 0 ------ ------ Over 5 to 10 years 53,499 + 1,010 0 0 ------ ------ Over 10 years 81,563 0 0 0 ------ ------ Total 187 594,411 - 120 10 0 19,750 0 1 Includes $ 11,712 million of inflation-indexed securities valued at the original face amount and $ 1,105 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 July 17, 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 11,039 533 4,364 430 522 819 926 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 897 41 39 39 43 119 108 114 55 33 63 131 113 Loans 187 2 0 0 0 0 5 48 33 60 20 8 11 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 19,750 0 19,750 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 198,604 11,379 78,143 7,637 10,958 15,490 14,141 23,372 7,062 3,105 5,871 4,408 17,039 Notes (3) 290,167 16,625 114,169 11,158 16,010 22,631 20,661 34,147 10,318 4,536 8,577 6,440 24,895 Bonds (4) 105,640 6,053 41,565 4,062 5,829 8,239 7,522 12,432 3,756 1,651 3,123 2,345 9,064 Total bought outright(5) 594,411 34,057 233,878 22,857 32,797 46,360 42,324 69,950 21,136 9,292 17,571 13,192 50,998 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 594,411 34,057 233,878 22,857 32,797 46,360 42,324 69,950 21,136 9,292 17,571 13,192 50,998 Total loans and securities 614,358 34,059 253,632 22,857 32,797 46,361 42,330 70,000 21,169 9,352 17,591 13,200 51,009 Items in process of collection 8,318 493 905 354 315 529 628 751 371 637 618 309 2,407 Bank premises 1,520 92 183 49 152 130 280 109 43 124 49 138 172 Other assets(6) 38,286 2,007 13,349 1,296 2,574 5,584 2,575 3,956 1,022 653 1,007 841 3,423 Interdistrict settlement account 0 - 4,683 +12,943 - 3,335 - 5,588 + 111 + 1,028 - 8,055 - 2,043 + 4,558 - 1,452 +10,664 - 4,149 TOTAL ASSETS 676,619 32,656 286,289 21,773 30,919 53,799 48,041 68,168 21,034 15,566 18,252 25,865 54,255 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 $ 6,701 million of inflation-indexed securities valued at the original face amount and $ 605 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 $ 501 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 22,977 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 2,109 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 July 17, 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 628,601 30,377 272,733 20,044 27,951 46,348 44,572 63,773 19,745 13,895 16,692 24,304 48,167 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 14,257 696 2,681 655 963 2,294 1,296 1,732 482 389 629 768 1,672 U.S. Treasury--general account 5,000 0 5,000 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 156 2 132 1 3 7 2 3 1 1 1 1 3 Other 230 15 144 0 1 64 -2 1 2 0 3 0 1 Total deposits 19,643 712 7,958 656 967 2,364 1,297 1,736 485 390 633 769 1,676 Deferred credit items 8,796 522 901 469 446 666 916 688 265 698 416 347 2,463 Other liabilities and accrued dividends (2) 2,365 142 744 105 132 216 197 253 104 76 94 92 210 TOTAL LIABILITIES 659,406 31,752 282,336 21,274 29,496 49,595 46,982 66,451 20,600 15,058 17,834 25,511 52,516 CAPITAL ACCOUNTS Capital paid in 8,261 432 1,852 236 686 2,055 473 818 201 305 198 169 836 Surplus 7,312 418 1,504 221 665 1,757 535 793 149 118 191 164 796 Other capital accounts 1,641 54 597 42 72 392 51 106 84 85 29 21 107 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 676,619 32,656 286,289 21,773 30,919 53,799 48,041 68,168 21,034 15,566 18,252 25,865 54,255 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 750,142 34,918 309,300 26,766 32,751 56,330 60,387 70,068 23,382 15,680 20,930 33,909 65,720 Less--Held by F.R. Banks 121,540 4,541 36,567 6,722 4,801 9,982 15,815 6,294 3,637 1,785 4,238 9,605 17,552 F.R. notes, net 628,601 30,377 272,733 20,044 27,951 46,348 44,572 63,773 19,745 13,895 16,692 24,304 48,167 Collateral held against F.R. notes Gold certificate account 11,039 Special drawing rights certificate account 2,200 Other eligible assets 1,191 U.S. govt. and agency securities(3) 614,171 Total collateral 628,601 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.