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 February 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 Feb 20, 2002 Feb 13, 2002 Feb 21, 2001 Feb 20, 2002 Reserve Bank Credit 636,464 + 8,620 + 59,333 640,383 U.S. government securities (1) Bought outright-system account (2,3) 565,884 + 3,238 + 46,215 566,822 Held under repurchase agreements 0 0 0 0 Federal agency obligations (1) Bought outright 10 0 - 71 10 Held under repurchase agreements 0 0 0 0 Repurchase agreements -- triparty (4) 34,750 + 8,286 + 12,774 35,749 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 2 - 29 - 11 1 Seasonal credit 16 - 8 - 1 14 Extended credit 0 0 0 0 Float -29 - 66 - 984 2,272 Other F.R. assets 35,831 - 2,800 + 1,410 35,515 Gold stock 11,044 0 - 2 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 33,293 + 14 + 1,247 33,293 Total factors supplying reserve funds 683,001 + 8,633 + 60,578 686,921 Currency in circulation* 638,623 + 3,817 + 54,485 639,576 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 407 - 1 - 81 409 Deposits,other than reserve balances,with F.R.Banks Treasury 4,892 - 84 + 56 4,946 Foreign 136 - 178 + 29 81 Service-related balances and adjustments (5) 9,447 + 69 + 2,917 9,447 Other 219 - 3 - 38 241 Other F.R. liabilities and capital 17,791 + 76 - 371 17,501 Total factors, other than reserve balances, absorbing reserve funds 671,516 + 3,698 + 56,996 672,201 Reserve balances with F.R. Banks (6) 11,485 + 4,935 + 3,582 14,720 On February 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 $ 737,037 million, a change of $ + 5,635 million for the week. The total includes $ 607,276 million of U.S. government securities and $ 129,761 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 $ 19,346 million (daily average over statement week) and $ 19,122 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 19,346 million (daily average) and $ 19,122 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 786 million (daily average) and $ 3,242 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 10,186 million of inflation-indexed securities valued at the original face amount and $ 912 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 $ 8,815 million and adjustments of $ 632 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 Feb 20, 2002 Feb 13, 2002 Feb 21, 2001 ASSETS Gold certificate account 11,044 0 - 2 Special drawing rights certificate account 2,200 0 0 Coin 1,149 - 20 + 37 Loans 15 - 6 - 17 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 35,749 + 10,249 + 6,984 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright--Bills 189,632 + 502 + 5,720 Notes (3) 273,665 + 3,036 + 31,228 Bonds (4) 103,524 - 1,034 + 8,754 Total bought outright (5) 566,822 + 2,505 + 45,704 Held under repurchase agreements 0 0 0 Total U.S. government securities 566,822 + 2,505 + 45,704 Total loans and securities 602,596 + 12,748 + 52,671 Items in process of collection (967) 13,987 + 6,953 - 280 Bank premises 1,511 0 + 42 Other assets (6) 33,997 - 3,363 + 757 TOTAL ASSETS (967) 666,485 + 16,318 + 53,226 LIABILITIES Federal Reserve notes 607,842 + 2,349 + 53,204 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 24,588 + 9,584 - 405 U.S. Treasury--general account 4,946 + 838 + 846 Foreign--official accounts 81 - 275 + 4 Other (13) 241 + 29 - 15 Total deposits (13) 29,856 + 10,176 + 429 Deferred availability cash items (954) 11,287 + 3,895 + 28 Other liabilities and accrued dividends (7) 2,336 - 2 - 1,571 TOTAL LIABILITIES (967) 651,319 + 16,416 + 52,088 CAPITAL ACCOUNTS Capital paid in 7,440 - 2 + 426 Surplus 7,269 - 1 + 902 Other capital accounts 457 - 95 - 191 *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 $ 538 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 4,420 million of inflation-indexed securities valued at the original face amount and $ 373 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 19,122 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 3,242 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, February 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 15 29,453 - 1,648 0 0 28,749 0 16 days to 90 days 0 115,927 + 3,515 0 0 7,000 0 91 days to 1 year 0 133,146 + 2,200 0 0 ------ ------ Over 1 to 5 years 156,384 - 1,636 10 0 ------ ------ Over 5 to 10 years 51,450 - 504 0 0 ------ ------ Over 10 years 80,462 + 577 0 0 ------ ------ Total 15 566,822 + 2,505 10 0 35,749 0 1 Includes $ 10,186 million of inflation-indexed securities valued at the original face amount and $ 912 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 February 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 1,149 65 61 57 66 174 118 138 63 36 83 143 147 Loans 15 1 0 0 0 0 0 0 0 4 5 1 4 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 35,749 0 35,749 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 189,632 11,394 77,680 7,789 11,102 11,329 13,040 21,477 6,835 592 5,853 3,438 19,105 Notes (3) 273,665 16,442 112,102 11,241 16,022 16,349 18,818 30,995 9,864 854 8,447 4,961 27,571 Bonds (4) 103,524 6,220 42,407 4,252 6,061 6,185 7,119 11,725 3,731 323 3,195 1,877 10,430 Total bought outright(5) 566,822 34,056 232,189 23,282 33,184 33,862 38,976 64,197 20,430 1,768 17,495 10,276 57,106 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 566,822 34,056 232,189 23,282 33,184 33,862 38,976 64,197 20,430 1,768 17,495 10,276 57,106 Total loans and securities 602,596 34,058 267,942 23,282 33,185 33,863 38,977 64,198 20,430 1,772 17,501 10,276 57,111 Items in process of collection 14,954 898 2,055 639 822 1,037 1,772 1,449 685 592 1,033 766 3,206 Bank premises 1,511 92 178 49 151 132 280 105 43 123 49 137 172 Other assets(6) 33,997 1,819 12,290 1,159 2,316 4,591 2,241 3,429 910 380 916 683 3,261 Interdistrict settlement account 0 - 3,964 -17,989 - 3,153 - 3,040 +13,181 + 4,173 + 3,456 + 136 +13,449 - 644 + 6,703 -12,307 TOTAL ASSETS 667,452 33,628 269,861 22,570 34,142 53,865 48,599 74,016 22,682 16,526 19,321 19,283 52,959 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 $ 538 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 4,420 million of inflation-indexed securities valued at the original face amount and $ 373 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 19,122 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 3,242 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 February 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 607,842 30,978 250,962 20,951 30,101 46,928 44,503 67,716 21,049 13,894 17,392 17,407 45,961 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 24,588 731 8,265 527 1,833 2,093 1,731 3,516 861 1,330 977 757 1,968 U.S. Treasury--general account 4,946 0 4,946 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 81 2 57 1 3 7 2 3 1 1 1 1 3 Other 254 2 154 0 2 62 0 1 15 0 3 2 11 Total deposits 29,868 734 13,422 528 1,838 2,162 1,733 3,521 876 1,330 981 761 1,982 Deferred credit items 12,241 886 1,530 526 683 1,035 1,162 898 334 855 453 692 3,187 Other liabilities and accrued dividends (2) 2,336 143 740 110 134 204 195 251 105 64 97 85 207 TOTAL LIABILITIES 652,286 32,742 266,655 22,114 32,756 50,329 47,593 72,386 22,364 16,143 18,923 18,945 51,337 CAPITAL ACCOUNTS Capital paid in 7,440 429 1,504 218 683 1,762 447 792 150 308 193 166 788 Surplus 7,269 418 1,504 221 665 1,757 535 793 149 75 191 164 796 Other capital accounts 457 38 198 16 38 17 25 45 19 0 15 8 38 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 667,452 33,628 269,861 22,570 34,142 53,865 48,599 74,016 22,682 16,526 19,321 19,283 52,959 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 751,211 35,754 295,538 27,794 34,541 56,742 63,185 74,671 23,758 16,203 21,738 33,560 67,728 Less--Held by F.R. Banks 143,369 4,775 44,576 6,843 4,440 9,814 18,682 6,955 2,708 2,309 4,346 16,153 21,767 F.R. notes, net 607,842 30,978 250,962 20,951 30,101 46,928 44,503 67,716 21,049 13,894 17,392 17,407 45,961 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) 594,597 Total collateral 607,842 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.