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.