FEDERAL RESERVE These data are scheduled for release each Thursday. H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks September 12, 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 Sep 11, 2002 Sep 4, 2002 Sep 12, 2001 Sep 11, 2002 Reserve Bank Credit 658,198 - 6,916 + 36,502 659,917 U.S. government securities (1) Bought outright-system account (2,3) 604,092 + 1,009 + 63,614 604,520 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) 16,857 - 6,964 - 12,006 18,000 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 1 - 92 - 11,741 1 Seasonal credit 164 - 13 + 69 161 Extended credit 0 0 0 0 Float -642 - 756 - 3,836 -505 Other F.R. assets 37,717 - 99 + 402 37,730 Gold stock 11,042 0 - 2 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 34,135 + 14 + 1,178 34,135 Total factors supplying reserve funds 705,575 - 6,902 + 37,679 707,294 Currency in circulation* 663,431 - 772 + 50,795 663,710 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 361 0 - 61 362 Deposits,other than reserve balances,with F.R.Banks Treasury 5,009 + 214 - 341 4,516 Foreign 130 + 36 + 51 75 Service-related balances and adjustments (5) 10,178 - 6 + 2,600 10,178 Other 223 + 18 - 244 215 Other F.R. liabilities and capital 19,437 - 120 + 213 19,018 Total factors, other than reserve balances, absorbing reserve funds 698,770 - 628 + 53,013 698,075 Reserve balances with F.R. Banks (6) 6,806 - 6,273 - 15,334 9,219 On September 11, 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 $ 808,955 million, a change of $ + 3,411 million for the week. The total includes $ 654,697 million of U.S. government securities and $ 154,258 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 $ 22,426 million (daily average over statement week) and $ 22,142 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 22,426 million (daily average) and $ 22,142 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,024 million (daily average) and $ 0 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,163 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 $ 9,961 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 Sep 11, 2002 Sep 4, 2002 Sep 12, 2001 ASSETS Gold certificate account 11,038 0 - 5 Special drawing rights certificate account 2,200 0 0 Coin 1,028 + 8 - 53 Loans 162 - 49 - 45,460 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 18,000 - 7,000 - 43,005 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright--Bills 203,886 + 831 + 32,550 Notes (3) 294,643 + 2 + 37,603 Bonds (4) 105,991 + 1 + 3,983 Total bought outright (5) 604,520 + 833 + 74,135 Held under repurchase agreements 0 0 0 Total U.S. government securities 604,520 + 833 + 74,135 Total loans and securities 622,692 - 6,216 - 14,330 Items in process of collection (1,187) 7,258 - 5,955 - 23,670 Bank premises 1,520 0 + 10 Other assets (6) 36,204 + 74 - 10,024 TOTAL ASSETS (1,187) 681,940 - 12,089 - 48,073 LIABILITIES Federal Reserve notes 630,961 - 2,027 + 46,583 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 19,612 - 6,056 - 89,070 U.S. Treasury--general account 4,516 - 85 - 1,477 Foreign--official accounts 75 - 53 + 6 Other (0) 215 - 8 - 935 Total deposits (0) 24,419 - 6,203 - 91,475 Deferred availability cash items (1,187) 7,541 - 3,501 - 78 Other liabilities and accrued dividends (7) 2,425 + 20 - 4,764 TOTAL LIABILITIES (1,187) 665,347 - 11,710 - 49,733 CAPITAL ACCOUNTS Capital paid in 8,253 + 5 + 1,056 Surplus 7,312 0 + 569 Other capital accounts 1,028 - 385 + 36 *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 $ 7,168 million of inflation-indexed securities valued at the original face amount and $ 651 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,074 million of inflation-indexed securities valued at the original face amount and $ 512 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 22,142 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 0 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, September 11, 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 50 18,171 + 1,224 0 0 15,000 0 16 days to 90 days 111 129,519 - 50 0 0 3,000 0 91 days to 1 year 0 148,076 - 344 0 0 ------ ------ Over 1 to 5 years 175,654 + 1 10 0 ------ ------ Over 5 to 10 years 51,383 + 2 0 0 ------ ------ Over 10 years 81,717 + 1 0 0 ------ ------ Total 162 604,520 + 833 10 0 18,000 0 1 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,163 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 September 11, 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 11,038 533 4,363 430 522 819 926 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 1,028 41 49 47 53 135 135 135 59 33 69 149 123 Loans 162 0 0 0 1 0 8 26 31 65 20 10 3 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 18,000 0 18,000 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 203,886 11,682 80,221 7,840 11,249 15,902 14,517 23,993 7,250 3,187 6,027 4,525 17,493 Notes (3) 294,643 16,881 115,931 11,330 16,257 22,980 20,980 34,674 10,477 4,606 8,710 6,539 25,279 Bonds (4) 105,991 6,073 41,703 4,076 5,848 8,267 7,547 12,473 3,769 1,657 3,133 2,352 9,094 Total bought outright(5) 604,520 34,636 237,855 23,246 33,354 47,148 43,044 71,140 21,495 9,450 17,870 13,416 51,865 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 604,520 34,636 237,855 23,246 33,354 47,148 43,044 71,140 21,495 9,450 17,870 13,416 51,865 Total loans and securities 622,692 34,636 255,859 23,246 33,355 47,149 43,053 71,167 21,526 9,515 17,890 13,426 51,869 Items in process of collection 8,445 513 839 394 231 540 853 663 460 572 484 339 2,557 Bank premises 1,520 91 183 49 152 130 279 111 43 125 49 138 171 Other assets(6) 36,204 1,884 12,659 1,218 2,436 5,332 2,427 3,714 945 618 948 794 3,228 Interdistrict settlement account 0 - 6,568 +22,211 - 4,447 - 5,619 - 214 - 1,970 - 8,569 - 2,355 + 4,194 - 1,928 +10,779 - 5,515 TOTAL ASSETS 683,127 31,246 297,036 21,020 31,234 54,037 45,869 68,513 21,096 15,266 17,888 26,209 53,713 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 $ 7,168 million of inflation-indexed securities valued at the original face amount and $ 651 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,074 million of inflation-indexed securities valued at the original face amount and $ 512 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 22,142 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 0 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 September 11, 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 630,961 28,976 282,200 18,824 28,176 46,519 42,311 61,960 19,551 13,672 16,442 24,714 47,618 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 19,612 727 4,845 1,160 979 2,454 1,502 3,852 755 396 549 650 1,742 U.S. Treasury--general account 4,516 0 4,516 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 75 2 51 1 3 7 2 3 1 1 1 1 3 Other 215 7 133 0 2 69 0 0 2 0 1 0 0 Total deposits 24,419 736 9,545 1,161 984 2,530 1,505 3,856 758 396 551 651 1,746 Deferred credit items 8,729 519 871 445 559 664 841 748 268 556 396 386 2,475 Other liabilities and accrued dividends (2) 2,425 147 753 110 140 239 200 260 107 80 97 93 199 TOTAL LIABILITIES 666,534 30,376 293,370 20,539 29,859 49,951 44,857 66,824 20,684 14,704 17,487 25,844 52,038 CAPITAL ACCOUNTS Capital paid in 8,253 432 1,769 237 692 2,067 473 836 202 326 199 182 838 Surplus 7,312 418 1,504 221 665 1,757 535 793 149 118 191 164 796 Other capital accounts 1,028 19 394 22 18 262 4 59 62 118 10 19 42 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 683,127 31,246 297,036 21,020 31,234 54,037 45,869 68,513 21,096 15,266 17,888 26,209 53,713 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 748,071 34,235 315,309 26,343 32,627 55,863 58,384 68,484 22,973 15,509 20,604 33,802 63,937 Less--Held by F.R. Banks 117,110 5,260 33,109 7,520 4,451 9,344 16,074 6,524 3,422 1,837 4,161 9,089 16,320 F.R. notes, net 630,961 28,976 282,200 18,824 28,176 46,519 42,311 61,960 19,551 13,672 16,442 24,714 47,618 Collateral held against F.R. notes Gold certificate account 11,038 Special drawing rights certificate account 2,200 Other eligible assets 0 U.S. govt. and agency securities(3) 617,723 Total collateral 630,961 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.