FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 2, 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 Jan 1, 2003 Dec 25, 2002 Jan 2, 2002 Jan 1, 2003 Federal Reserve Banks Reserve Bank Credit 706,754 + 3,087 + 63,960 708,491 Securities held outright 629,415 + 5 + 75,561 629,416 U.S. Treasury (1) 629,405 + 5 + 75,561 629,406 Bills (2) 226,682 0 + 42,441 226,682 Notes and bonds, nominal (2) 389,219 0 + 30,765 389,219 Notes and bonds, inflation-indexed (2) 12,242 0 + 2,056 12,242 Inflation compensation (3) 1,261 + 5 + 298 1,263 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 38,107 + 3,786 - 12,607 39,500 Loans to depository institutions 45 - 14 + 3 40 Adjustment credit 5 - 8 - 5 9 Seasonal credit 40 - 6 + 9 31 Extended credit 0 0 0 0 Float 114 - 1,054 - 1,005 832 Other Federal Reserve assets 39,073 + 365 + 2,008 38,702 Gold stock 11,043 0 - 2 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 34,497 + 14 + 1,480 34,497 Total factors supplying reserve funds 754,494 + 3,102 + 65,438 756,230 Currency in circulation(5) 686,592 + 5,151 + 43,548 687,425 Reverse repurchase agreements (6) 20,865 - 43 + 20,865 21,091 Foreign official and international accounts 20,865 - 43 + 20,865 21,091 Dealers 0 0 0 0 Treasury cash holdings 360 0 - 66 360 Deposits with F.R.Banks, other than reserve balances 16,279 + 93 + 704 16,357 U.S. Treasury, general account 5,016 + 338 - 966 4,420 Foreign official 137 + 23 + 7 136 Service-related 10,649 - 532 + 1,588 10,649 Required clearing balances 10,535 + 83 + 2,010 10,535 Adjustments to compensate for float 114 - 615 - 422 114 Other 476 + 264 + 74 1,152 Other liabilities and capital 19,918 - 523 + 2,508 18,977 Total factors, other than reserve balances, absorbing reserve funds 744,014 + 4,680 + 67,559 744,210 Reserve balances with Federal Reserve Banks 10,480 - 1,578 - 2,121 12,020 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 850,687 + 1,820 ------ 855,053 U.S. Treasury 686,745 + 748 ------ 690,003 Federal agency 163,943 + 1,073 ------ 165,050 Securities lent to dealers 1,059 + 755 - 6,187 1,841 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 effects 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 Jan 1, 2003 Dec 25, 2002 Jan 2, 2002 Assets Gold certificate account 11,039 0 - 6 Special drawing rights certificate account 2,200 0 0 Coin 988 - 23 - 48 Securities, repurchase agreements, and loans 668,956 + 2,235 + 64,569 Securities held outright 629,416 + 4 + 74,561 U.S. Treasury (1) 629,406 + 4 + 74,561 Bills (2) 226,682 0 + 41,436 Notes and bonds, nominal (2) 389,219 0 + 30,765 Notes and bonds, inflation-indexed (2) 12,242 0 + 2,056 Inflation compensation (3) 1,263 + 5 + 303 Federal agency (2) 10 0 0 Repurchase agreements (4) 39,500 + 2,250 - 10,000 Loans 40 - 19 + 8 Items in process of collection (1,207) 10,291 - 2,948 + 2,828 Bank premises 1,543 + 3 + 32 Other assets (5) 37,031 - 326 + 1,531 Total assets (1,207) 732,048 - 1,059 + 68,907 Liabilities Federal Reserve notes, net of F.R. Bank holdings 654,272 + 2,381 + 42,393 Reverse repurchase agreements (6) 21,091 + 695 + 21,091 Deposits (0) 28,249 - 1,455 + 127 Depository institutions 22,541 - 2,160 + 2,141 U.S. Treasury, general account 4,420 - 242 - 2,980 Foreign official 136 - 3 + 40 Other (0) 1,152 + 949 + 927 Deferred availability cash items (1,207) 9,459 - 988 + 3,538 Other liabilities and accrued dividends (7) 2,217 - 244 - 159 Total liabilities (1,207) 715,288 + 390 + 66,990 Capital Accounts Capital paid in 8,380 - 2 + 1,006 Surplus 8,380 + 1,068 + 1,097 Other capital accounts 0 - 2,516 - 186 Total capital 16,760 - 1,449 + 1,917 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 effects 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, January 1, 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 35 27,444 - 6,226 0 0 25,500 21,091 16 days to 90 days 5 154,225 + 7,379 0 0 14,000 0 91 days to 1 year 0 141,840 + 25 10 0 ------ ------ Over 1 to 5 years ------ 172,758 - 1,178 0 0 ------ ------ Over 5 to 10 years ------ 53,300 + 2 0 0 ------ ------ Over 10 years ------ 79,840 + 2 0 0 ------ ------ All 40 629,406 + 4 10 0 39,500 21,091 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 effects 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 January 1, 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 988 45 33 61 43 144 103 126 59 35 66 163 111 Securities, repurchase agreements, and loans 668,956 36,062 287,151 24,203 34,728 49,090 44,825 74,076 22,392 9,846 18,608 13,969 54,006 Securities held outright 629,416 36,062 247,651 24,203 34,728 49,090 44,817 74,070 22,381 9,839 18,606 13,969 54,001 U.S. Treasury (1) 629,406 36,062 247,647 24,202 34,727 49,089 44,816 74,069 22,380 9,839 18,605 13,969 54,001 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) 402,724 23,074 158,456 15,486 22,220 31,410 28,676 47,393 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) 39,500 0 39,500 0 0 0 0 0 0 0 0 0 0 Loans 40 0 0 0 0 0 8 6 11 7 2 0 5 Items in process of collection 11,498 1,002 992 494 764 917 748 1,170 695 612 870 624 2,608 Bank premises 1,543 91 185 50 153 129 279 116 44 127 51 142 176 Other assets(5) 37,031 1,936 12,757 1,252 2,519 5,575 2,490 3,806 966 638 965 812 3,316 Interdistrict settlement account 0 - 6,339 +25,021 - 5,447 - 5,651 - 2,806 - 2,772 -13,871 - 3,481 + 4,051 - 2,229 +13,961 - 437 Total Assets 733,255 33,445 331,377 21,126 33,181 54,015 46,765 66,716 21,093 15,518 18,706 30,253 61,061 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 effects 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 January 1, 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 759,255 33,188 330,195 25,461 32,754 54,616 58,046 64,617 22,076 15,078 19,994 36,494 66,738 Less: notes held by F.R. Banks 104,983 4,065 24,922 6,893 4,417 9,023 16,757 7,397 3,088 1,785 3,854 8,424 14,359 Federal Reserve notes, net 654,272 29,123 305,273 18,569 28,336 45,593 41,289 57,220 18,988 13,293 16,140 28,070 52,379 Reverse repurchase agreements (1) 21,091 1,208 8,299 811 1,164 1,645 1,502 2,482 750 330 623 468 1,810 Deposits 28,249 1,273 12,433 626 1,467 1,579 1,870 4,069 513 432 855 752 2,380 Depository institutions 22,541 1,212 7,571 577 1,393 1,381 1,735 3,943 480 430 822 727 2,273 U.S. Treasury, general account 4,420 0 4,420 0 0 0 0 0 0 0 0 0 0 Foreign official 136 2 112 1 3 7 2 3 1 1 1 1 3 Other 1,152 60 330 49 72 191 133 123 33 1 32 24 104 Deferred availability cash items 10,666 832 1,069 556 685 808 972 997 346 713 598 505 2,584 Other liabilities and accrued dividends (2) 2,217 135 686 99 124 243 182 232 98 72 88 85 172 Total liabilities 716,495 32,572 327,759 20,661 31,776 49,868 45,814 65,000 20,695 14,839 18,304 29,881 59,325 Capital Capital paid in 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 733,255 33,445 331,377 21,126 33,181 54,015 46,765 66,716 21,093 15,518 18,706 30,253 61,061 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 Jan 1, 2003 Federal Reserve notes, net of F.R. Bank holdings 654,272 Collateral held against Federal Reserve notes 654,272 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 641,034 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities (1) 668,916 Less:face value of securities under reverse repurchase agreements 21,098 U.S. Treasury and agency securities eligible to be pledged 647,818 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 effects of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements.