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 May 30, 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 May 29, 2002 May 22, 2002 May 30, 2001 May 29, 2002 Reserve Bank Credit 655,848 + 12,034 + 65,276 673,631 U.S. government securities (1) Bought outright-system account (2,3) 587,669 + 2,547 + 58,501 587,559 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) 31,204 + 8,311 + 4,670 47,425 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 7 - 5 - 15 3 Seasonal credit 129 + 24 + 43 143 Extended credit 0 0 0 0 Float -180 + 568 + 327 1,179 Other F.R. assets 37,009 + 588 + 1,750 37,312 Gold stock 11,044 0 - 2 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 33,717 + 14 + 1,184 33,717 Total factors supplying reserve funds 702,808 + 12,047 + 66,458 720,591 Currency in circulation* 653,948 + 5,197 + 58,978 656,219 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 412 + 1 - 98 416 Deposits,other than reserve balances,with F.R.Banks Treasury 5,012 + 98 - 136 3,947 Foreign 109 + 33 - 39 208 Service-related balances and adjustments (5) 10,159 0 + 3,281 10,159 Other 207 - 10 - 87 210 Other F.R. liabilities and capital 19,701 + 241 + 1,741 19,306 Total factors, other than reserve balances, absorbing reserve funds 689,548 + 5,562 + 63,640 690,465 Reserve balances with F.R. Banks (6) 13,260 + 6,486 + 2,818 30,126 On May 29, 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 $ 755,858 million, a change of $ + 8,688 million for the week. The total includes $ 612,484 million of U.S. government securities and $ 143,373 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 $ 21,611 million (daily average over statement week) and $ 21,738 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 21,611 million (daily average) and $ 21,738 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 83 million (daily average) and $ 537 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,138 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 $ 9,770 million and adjustments of $ 390 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 May 29, 2002 May 22, 2002 May 30, 2001 ASSETS Gold certificate account 11,044 0 - 2 Special drawing rights certificate account 2,200 0 0 Coin 928 - 9 - 142 Loans 146 + 11 + 56 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 47,425 + 23,925 + 5,045 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright--Bills 194,822 + 1,604 + 16,036 Notes (3) 287,329 + 1,319 + 34,972 Bonds (4) 105,408 + 34 + 7,178 Total bought outright (5) 587,559 + 2,957 + 58,187 Held under repurchase agreements 0 0 0 Total U.S. government securities 587,559 + 2,957 + 58,187 Total loans and securities 635,140 + 26,893 + 63,287 Items in process of collection (1,096) 10,850 + 4,380 + 238 Bank premises 1,516 + 1 + 17 Other assets (6) 35,547 + 504 + 1,734 TOTAL ASSETS (1,096) 697,225 + 31,769 + 65,131 LIABILITIES Federal Reserve notes 623,847 + 5,029 + 58,205 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 40,014 + 24,117 + 6,019 U.S. Treasury--general account 3,947 - 77 - 354 Foreign--official accounts 208 + 136 + 136 Other (0) 210 - 7 - 85 Total deposits (0) 44,379 + 24,168 + 5,715 Deferred availability cash items (1,096) 9,693 + 2,671 - 357 Other liabilities and accrued dividends (7) 2,522 + 53 - 868 TOTAL LIABILITIES (1,096) 680,441 + 31,922 + 62,695 CAPITAL ACCOUNTS Capital paid in 8,267 + 171 + 1,198 Surplus 7,312 0 + 746 Other capital accounts 1,206 - 324 + 494 *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 $ 6,591 million of inflation-indexed securities valued at the original face amount and $ 671 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,011 million of inflation-indexed securities valued at the original face amount and $ 467 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 21,738 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 537 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, May 29, 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 140 26,248 - 546 0 0 42,425 0 16 days to 90 days 7 128,379 + 1,976 0 0 5,000 0 91 days to 1 year 0 133,249 + 1,488 0 0 ------ ------ Over 1 to 5 years 166,469 + 2 10 0 ------ ------ Over 5 to 10 years 51,685 + 31 0 0 ------ ------ Over 10 years 81,529 + 7 0 0 ------ ------ Total 146 587,559 + 2,957 10 0 47,425 0 1 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,138 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 May 29, 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 11,044 533 4,369 430 522 819 926 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 928 48 49 46 45 125 92 119 53 35 67 123 125 Loans 146 8 0 0 0 2 2 42 29 39 13 3 9 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 47,425 0 47,425 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 194,822 11,162 76,655 7,491 10,749 15,195 13,872 22,927 6,927 3,046 5,759 4,324 16,715 Notes (3) 287,329 16,462 113,053 11,049 15,853 22,410 20,459 33,813 10,217 4,492 8,493 6,377 24,652 Bonds (4) 105,408 6,039 41,474 4,053 5,816 8,221 7,505 12,404 3,748 1,648 3,116 2,339 9,044 Total bought outright(5) 587,559 33,664 231,181 22,593 32,418 45,825 41,837 69,144 20,892 9,185 17,368 13,040 50,410 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 587,559 33,664 231,181 22,593 32,418 45,825 41,837 69,144 20,892 9,185 17,368 13,040 50,410 Total loans and securities 635,140 33,672 278,610 22,594 32,419 45,828 41,839 69,187 20,921 9,224 17,382 13,043 50,420 Items in process of collection 11,946 838 1,306 583 438 899 1,634 984 592 620 615 383 3,054 Bank premises 1,516 92 182 49 151 130 281 107 43 123 49 137 172 Other assets(6) 35,547 1,858 12,471 1,171 2,383 5,185 2,389 3,655 939 610 934 784 3,168 Interdistrict settlement account 0 - 1,559 - 8,490 - 2,109 - 1,176 + 4,200 + 2,112 - 2,242 - 1,246 + 4,852 - 142 + 8,414 - 2,613 TOTAL ASSETS 698,321 35,597 289,370 22,847 34,887 57,334 49,439 73,103 21,719 15,673 19,280 23,467 55,605 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 $ 6,591 million of inflation-indexed securities valued at the original face amount and $ 671 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,011 million of inflation-indexed securities valued at the original face amount and $ 467 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 21,738 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 537 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 May 29, 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 623,847 31,074 262,469 20,875 28,950 47,852 45,387 65,843 19,775 13,873 17,427 21,733 48,589 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 40,014 2,631 17,047 645 3,923 3,916 1,827 4,440 1,075 688 949 844 2,032 U.S. Treasury--general account 3,947 0 3,947 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 208 2 184 1 3 7 2 3 1 1 1 1 3 Other 210 9 133 0 1 61 0 1 2 0 1 0 0 Total deposits 44,379 2,642 21,311 646 3,927 3,984 1,829 4,444 1,077 689 951 845 2,035 Deferred credit items 10,789 838 1,087 750 466 957 977 867 325 587 406 442 3,086 Other liabilities and accrued dividends (2) 2,522 153 773 111 146 268 208 270 110 82 99 96 205 TOTAL LIABILITIES 681,537 34,705 285,640 22,381 33,489 53,061 48,401 71,425 21,288 15,231 18,883 23,116 53,916 CAPITAL ACCOUNTS Capital paid in 8,267 432 1,834 223 685 2,115 469 810 208 304 192 169 826 Surplus 7,312 418 1,504 221 665 1,757 535 793 149 118 191 164 796 Other capital accounts 1,206 42 392 21 49 400 34 74 75 19 14 17 67 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 698,321 35,597 289,370 22,847 34,887 57,334 49,439 73,103 21,719 15,673 19,280 23,467 55,605 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 752,137 35,432 304,268 27,261 33,473 57,273 61,452 71,930 23,637 15,887 21,106 34,050 66,368 Less--Held by F.R. Banks 128,290 4,358 41,798 6,386 4,523 9,421 16,065 6,087 3,862 2,015 3,679 12,316 17,779 F.R. notes, net 623,847 31,074 262,469 20,875 28,950 47,852 45,387 65,843 19,775 13,873 17,427 21,733 48,589 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) 610,603 Total collateral 623,847 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.