Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page


Release Date: March 21, 2002

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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
                                                                                             March 21, 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     Mar 20, 2002 Mar 13, 2002 Mar 21, 2001 Mar 20, 2002

Reserve Bank Credit                                         637,254    +   3,029    +  56,002      640,547
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    574,098    +   2,184    +  51,745      573,844
    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)                      26,614    +   1,571    +   3,790       28,550
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                             6    +       3    -      14            3
    Seasonal credit                                              20            0    -       2           22
    Extended credit                                               0            0            0            0
   Float                                                       -389    -   1,102    -     688        1,079
   Other F.R. assets                                         36,895    +     373    +   1,171       37,039
Gold stock                                                   11,044            0    -       2       11,044
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding                                33,349    +      14    +   1,149       33,349
        Total factors supplying reserve funds               683,847    +   3,043    +  57,149      687,140
                                                                   
Currency in circulation*                                    639,781    +     400    +  54,439      640,972
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         429    +       8    -      66          424
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    6,511    +   1,710    -     198        5,600
  Foreign                                                        95    -      29    +      12           74
  Service-related balances and adjustments (5)                9,233    -     246    +   2,297        9,233
  Other                                                         207    -      22    -      30          219
Other F.R. liabilities and capital                           18,276    -     320    -      42       17,949
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             674,534    +   1,503    +  56,414      674,472

Reserve balances with F.R. Banks  (6)                         9,314    +   1,541    +     736       12,668
                                                                
On     March 20, 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 $    742,576 million, a change of $  -   2,725 million for the week. The total includes
$    602,672 million of U.S. government securities and $    139,904 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 $     18,045 million (daily average over statement week) and $     18,437 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     18,045 million (daily average)
   and $     18,437 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      1,406 million (daily average) and $      2,093 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $     10,658 million of inflation-indexed securities valued at the original face amount and 
   $        943 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 $      8,935 million and adjustments of $        299 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
                                                           Mar 20, 2002     Mar 13, 2002     Mar 21, 2001
                ASSETS
Gold certificate account                                        11,044                0        -       2
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,085        -       9        -      61
Loans                                                               24        +       2        -       3
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           28,550        +   4,550        -  10,000
Federal agency obligations (2)          
  Bought outright                                                   10                0                0
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       191,443        +     381        +   7,032
                   Notes (3)                                   278,167        +     657        +  35,111
                   Bonds (4)                                   104,235        +      79        +   8,400
    Total bought outright (5)                                  573,844        +   1,116        +  50,542
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          573,844        +   1,116        +  50,542
       Total loans and securities                              602,429        +   5,668        +  40,540
                          
Items in process of collection                      (966)        8,916        +   1,410        +     814
Bank premises                                                    1,511        +       1        +      32
Other assets (6)                                                35,533        +     366        +     978
                TOTAL ASSETS                        (966)      662,718        +   7,437        +  42,301
                          
                LIABILITIES
Federal Reserve notes                                          609,132        +     554        +  53,215
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       22,146        +   6,845        -  11,569
  U.S. Treasury--general account                                 5,600        +     603        +     938
  Foreign--official accounts                                        74        -     242                0
    Other                                             (0)          219        +      14        -      22
      Total deposits                                  (0)       28,039        +   7,220        -  10,653
Deferred availability cash items                    (966)        7,597        -     173        -     175
Other liabilities and accrued dividends (7)                      2,381        -      36        -   1,462
                TOTAL LIABILITIES                   (966)      647,149        +   7,565        +  40,925
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,646        -       4        +     623
Surplus                                                          7,273        -       1        +     818
Other capital accounts                                             649        -     123        -      66

*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 $      5,766 million of inflation-indexed securities valued at the original face amount and 
   $        539 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Includes $      4,892 million of inflation-indexed securities valued at the original face amount and 
   $        404 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     18,437 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      2,093 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,     March 20, 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              24       25,007   +   7,605            0           0       22,550           0
16 days to 90 days           0      124,213   -   6,368            0           0        6,000           0
91 days to 1 year            0      132,506   -     856            0           0     ------      ------
Over 1 to 5 years                   159,197   +     731           10           0     ------      ------
Over 5 to 10 years                   51,957   +       2            0           0     ------      ------
Over 10 years                        80,965   +       3            0           0     ------      ------
                   		 	
Total                       24      573,844   +   1,116           10           0       28,550           0

1  Includes $     10,658 million of inflation-indexed securities valued at the original face amount and 
   $        943 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     March 20, 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                      11,044        546      4,450        454        538        741        871      1,028        343        143        317        477      1,136
Special drawing rights certif. acct.           2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                           1,085         67         60         58         60        162         93        133         57         38         80        133        143
                       
Loans                                             24          1          0          0          0          0          0          6          0         10          4          0          3
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          28,550          0     28,550          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                     191,443     11,502     78,421      7,863     11,208     11,437     13,164     21,682      6,900        597      5,909      3,471     19,287
                   Notes (3)                 278,167     16,713    113,946     11,425     16,285     16,618     19,128     31,505     10,026        868      8,586      5,043     28,025
                   Bonds (4)                 104,235      6,263     42,698      4,281      6,102      6,227      7,168     11,805      3,757        325      3,217      1,890     10,501
     Total bought outright(5)                573,844     34,478    235,066     23,570     33,596     34,282     39,459     64,992     20,683      1,790     17,712     10,403     57,814
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             573,844     34,478    235,066     23,570     33,596     34,282     39,459     64,992     20,683      1,790     17,712     10,403     57,814
       Total loans and securities            602,429     34,479    263,620     23,570     33,596     34,282     39,460     65,000     20,684      1,800     17,716     10,403     57,818
                       
Items in process of collection                 9,881        489        776        448        411        511      1,645        746        552        674        560        604      2,465
Bank premises                                  1,511         92        178         49        151        131        280        106         43        123         49        137        172
Other assets(6)                               35,533      1,907     12,867      1,259      2,409      4,724      2,346      3,590        959        385        959        715      3,412
Interdistrict settlement account                   0    - 4,261    -12,339    - 3,422    - 3,244    +11,661    + 2,138    + 1,711    -   619    +12,478    -   849    + 9,742    -12,997
          TOTAL ASSETS                       663,683     33,434    270,487     22,500     34,027     52,359     46,999     72,527     22,089     15,672     18,898     22,309     52,382

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 $      5,766 million of inflation-indexed securities valued at the original face amount and  $        539 million 
   of compensation that adjusts for the effects of inflation on the principal of such  securities.
4  Includes $      4,892 million of inflation-indexed securities valued at the original face amount and  $        404 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     18,437 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      2,093 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     March 20, 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                         609,132     30,545    251,493     20,743     29,969     46,402     43,452     67,588     20,825     13,923     17,275     20,768     46,148
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      22,146      1,230      7,871        684      2,132      1,511      1,481      2,397        629        741        784        721      1,966
  U.S. Treasury--general account                5,600          0      5,600          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                       74          2         50          1          3          7          2          3          1          1          1          1          3
  Other                                           219         11        148          0          1         43          0          3          5          0          7          1          1
    Total deposits                             28,039      1,243     13,669        685      2,136      1,561      1,483      2,403        634        742        791        723      1,969
Deferred credit items                           8,563        613      1,028        500        396        626        859        647        208        556        334        392      2,406
Other liabilities and accrued                 
  dividends (2)                                 2,381        148        757        110        138        215        198        248        105         64         98         89        211
    TOTAL LIABILITIES                         648,115     32,548    266,948     22,038     32,640     48,804     45,991     70,885     21,771     15,285     18,499     21,972     50,733
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,646        429      1,671        222        683      1,772        447        800        150        306        194        166        805
Surplus                                         7,273        418      1,504        221        665      1,757        535        793        149         80        191        164        796
Other capital accounts                            649         38        364         19         39         26         26         48         19          0         15          8         48
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              663,683     33,434    270,487     22,500     34,027     52,359     46,999     72,527     22,089     15,672     18,898     22,309     52,382
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        749,676     35,475    295,238     27,937     34,455     56,279     62,534     74,722     24,160     16,148     21,524     33,827     67,377
  Less--Held by F.R. Banks                    140,545      4,930     43,744      7,194      4,485      9,877     19,083      7,134      3,336      2,224      4,248     13,060     21,230
  F.R. notes, net                             609,132     30,545    251,493     20,743     29,969     46,402     43,452     67,588     20,825     13,923     17,275     20,768     46,148
Collateral held against F.R. notes            
   Gold certificate account                    11,044
   Special drawing rights                 
     certificate account                        2,200
   Other eligible assets                            0
   U.S. govt. and agency securities(3)        595,888
     Total collateral                         609,132

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.

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Last update: March 21, 2002