FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks February 6, 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 5, 2003 Jan 29, 2003 Feb 6, 2002 Feb 5, 2003 Federal Reserve Banks Reserve Bank Credit 694,493 + 3,899 + 64,779 687,819 Securities held outright 629,415 - 1 + 67,279 629,411 U.S. Treasury (1) 629,405 - 1 + 67,279 629,401 Bills (2) 226,682 0 + 37,791 226,682 Notes and bonds, nominal (2) 389,219 0 + 27,109 389,219 Notes and bonds, inflation-indexed (2) 12,242 0 + 2,056 12,242 Inflation compensation (3) 1,261 - 2 + 322 1,257 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 24,393 + 4,250 - 4,214 27,750 Loans to depository institutions 15 - 37 - 7 15 Primary credit 11 - 34 + 11 13 Secondary credit 0 0 0 0 Seasonal credit 4 - 3 - 12 2 Adjustment credit 0 0 - 6 0 Float 596 - 167 - 361 -9,630 Other Federal Reserve assets 40,074 - 146 + 2,082 40,273 Gold stock 11,043 0 - 2 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 34,598 + 14 + 1,127 34,598 Total factors supplying reserve funds 742,333 + 3,913 + 65,904 735,659 Currency in circulation(5) 675,778 + 1,009 + 43,935 677,992 Reverse repurchase agreements (6) 18,483 + 86 + 18,483 17,986 Foreign official and international accounts 18,483 + 86 + 18,483 17,986 Dealers 0 0 0 0 Treasury cash holdings 360 0 - 54 356 Deposits with F.R.Banks, other than reserve balances 16,456 - 1,578 + 791 16,782 U.S. Treasury, general account 5,392 - 1,770 - 804 5,664 Foreign official 108 - 6 - 82 148 Service-related 10,724 + 186 + 1,707 10,724 Required clearing balances 10,356 + 1 + 1,704 10,355 Adjustments to compensate for float 368 + 185 + 3 368 Other 232 + 11 - 30 246 Other liabilities and capital 19,513 - 360 + 1,974 19,274 Total factors, other than reserve balances, absorbing reserve funds 730,590 - 842 + 65,129 732,390 Reserve balances with Federal Reserve Banks 11,743 + 4,755 + 775 3,270 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 865,366 + 7,539 ------ 868,037 U.S. Treasury 696,000 + 7,287 ------ 697,891 Federal agency 169,367 + 253 ------ 170,145 Securities lent to dealers 408 + 51 - 1,245 922 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 5, 2003 Jan 29, 2003 Feb 6, 2002 Assets Gold certificate account 11,039 0 - 5 Special drawing rights certificate account 2,200 0 0 Coin 1,134 + 23 - 28 Securities, repurchase agreements, and loans 657,177 + 7,250 + 64,116 Securities held outright 629,411 - 5 + 65,881 U.S. Treasury (1) 629,401 - 5 + 65,881 Bills (2) 226,682 0 + 36,897 Notes and bonds, nominal (2) 389,219 0 + 26,603 Notes and bonds, inflation-indexed (2) 12,242 0 + 2,056 Inflation compensation (3) 1,257 - 6 + 323 Federal agency (2) 10 0 0 Repurchase agreements (4) 27,750 + 7,250 - 1,750 Loans 15 + 4 - 15 Items in process of collection (1,242) 8,959 - 291 - 625 Bank premises 1,539 - 4 + 29 Other assets (5) 38,611 - 136 + 1,799 Total assets (1,242) 720,659 + 6,841 + 65,285 Liabilities Federal Reserve notes net of FR Bank holdings 644,880 + 2,276 + 42,442 Reverse repurchase agreements (6) 17,986 - 480 + 17,986 Deposits (0) 29,814 + 4,143 + 2,835 Depository institutions 23,756 + 5,429 + 2,999 U.S. Treasury, general account 5,664 - 1,366 + 288 Foreign official 148 + 48 - 446 Other (0) 246 + 32 - 7 Deferred availability cash items (1,242) 8,704 + 1,201 + 208 Other liabilities and accrued dividends (7) 2,231 - 11 - 69 Total liabilities (1,242) 703,616 + 7,130 + 63,402 Capital Accounts Capital paid in 8,404 + 5 + 967 Surplus 8,380 0 + 1,111 Other capital accounts 260 - 292 - 194 Total capital 17,043 - 289 + 1,883 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 5, 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 13 45,981 - 3,611 0 0 24,750 17,986 16 days to 90 days 2 134,667 + 3,958 0 0 3,000 0 91 days to 1 year 0 142,243 - 964 10 0 ------ ------ Over 1 to 5 years ------ 175,434 + 616 0 0 ------ ------ Over 5 to 10 years ------ 51,239 - 1 0 0 ------ ------ Over 10 years ------ 79,837 - 3 0 0 ------ ------ All 15 629,401 - 5 10 0 27,750 17,986 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 5, 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 1,134 53 40 66 52 162 124 148 66 41 78 179 125 Securities, repurchase agreements, and loans 657,177 36,062 275,399 24,203 34,730 49,090 44,827 74,069 22,381 9,841 18,606 13,969 54,002 Securities held outright 629,411 36,062 247,649 24,203 34,728 49,090 44,817 74,069 22,380 9,839 18,605 13,969 54,001 U.S. Treasury (1) 629,401 36,061 247,645 24,202 34,727 49,089 44,816 74,068 22,380 9,839 18,605 13,969 54,000 Bills (2) 226,682 12,988 89,191 8,717 12,507 17,680 16,141 26,676 8,060 3,544 6,701 5,031 19,448 Notes and bonds(3) 402,719 23,074 158,454 15,486 22,220 31,409 28,675 47,392 14,320 6,296 11,904 8,938 34,552 Federal agency (2) 10 1 4 0 1 1 1 1 0 0 0 0 1 Repurchase agreements(4) 27,750 0 27,750 0 0 0 0 0 0 0 0 0 0 Loans 15 0 0 0 2 0 10 0 0 1 0 0 2 Items in process of collection 10,201 496 810 530 671 762 930 828 743 482 572 383 2,993 Bank premises 1,539 91 186 50 152 129 279 116 44 126 50 141 176 Other assets(5) 38,611 1,943 13,527 1,231 2,501 5,887 2,335 3,891 1,080 1,011 979 848 3,378 Interdistrict settlement account 0 - 5,979 +35,253 - 7,242 - 6,155 - 3,228 - 4,653 -16,815 - 4,263 + 3,439 - 1,732 +13,814 - 2,439 Total Assets 721,901 33,315 330,452 19,350 32,577 53,768 44,933 63,528 20,468 15,150 18,928 29,917 59,515 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 5, 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 760,400 32,824 333,391 25,077 32,351 53,884 58,236 63,575 21,829 14,951 20,870 36,210 67,203 Less: notes held by F.R. Banks 115,520 5,052 27,291 8,067 4,972 8,923 18,578 8,152 3,495 1,962 4,349 8,495 16,186 Federal Reserve notes, net 644,880 27,772 306,101 17,010 27,379 44,961 39,657 55,424 18,334 12,990 16,522 27,715 51,017 Reverse repurchase agreements (1) 17,986 1,031 7,077 692 992 1,403 1,281 2,117 640 281 532 399 1,543 Deposits 29,814 2,790 11,696 560 2,110 2,316 1,860 3,165 622 493 998 778 2,426 Depository institutions 23,756 2,786 5,756 559 2,107 2,222 1,857 3,161 621 492 996 777 2,422 U.S. Treasury, general account 5,664 0 5,664 0 0 0 0 0 0 0 0 0 0 Foreign official 148 2 124 1 3 7 2 3 1 1 1 1 3 Other 246 2 152 0 0 87 1 1 1 0 1 0 1 Deferred availability cash items 9,946 704 1,120 512 548 683 999 839 363 623 378 561 2,616 Other liabilities and accrued dividends (2) 2,231 136 680 100 125 252 180 235 100 77 88 85 172 Total liabilities 704,858 32,433 326,674 18,873 31,154 49,615 43,977 61,780 20,058 14,464 18,518 29,537 57,774 Capital Capital paid in 8,404 437 1,809 234 708 2,079 475 861 200 341 204 188 868 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 260 8 160 10 14 0 6 30 10 6 6 5 5 Total liabilities and capital 721,901 33,315 330,452 19,350 32,577 53,768 44,933 63,528 20,468 15,150 18,928 29,917 59,515 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 5, 2003 Federal Reserve notes, net of F.R. Bank holdings 644,880 Collateral held against Federal Reserve notes 644,880 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 631,641 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities (1) 657,161 Less:face value of securities under reverse repurchase agreements 17,992 U.S. Treasury and agency securities eligible to be pledged 639,169 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.