FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks February 20, 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 Feb 19, 2003 Feb 12, 2003 Feb 20, 2002 Feb 19, 2003 Federal Reserve Banks Reserve Bank Credit 701,756 + 10,353 + 65,319 706,853 Securities held outright 631,009 + 1,058 + 65,115 631,273 U.S. Treasury (1) 630,999 + 1,058 + 65,115 631,263 Bills (2) 227,294 + 353 + 37,902 227,561 Notes and bonds, nominal (2) 390,217 + 713 + 24,828 390,217 Notes and bonds, inflation-indexed (2) 12,242 0 + 2,056 12,242 Inflation compensation (3) 1,245 - 8 + 327 1,242 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 30,067 + 10,782 - 4,683 34,496 Loans to depository institutions 19 - 12 + 1 17 Primary credit 14 - 14 + 14 13 Secondary credit 0 0 0 0 Seasonal credit 5 + 2 - 11 4 Adjustment credit 0 0 - 2 0 Float 822 - 881 + 880 3,830 Other Federal Reserve assets 39,838 - 596 + 4,005 37,237 Gold stock 11,043 0 - 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 34,695 + 14 + 1,185 34,695 Total factors supplying reserve funds 749,694 + 10,366 + 66,503 754,791 Currency in circulation(5) 682,868 + 4,357 + 44,028 684,264 Reverse repurchase agreements (6) 17,925 - 1,024 + 17,925 17,850 Foreign official and international accounts 17,925 + 47 + 17,925 17,850 Dealers 0 - 1,071 0 0 Treasury cash holdings 358 + 2 - 49 348 Deposits with F.R.Banks, other than reserve balances 16,157 + 203 + 1,464 15,553 U.S. Treasury, general account 5,048 + 367 + 156 4,407 Foreign official 132 + 17 - 4 134 Service-related 10,730 - 188 + 1,285 10,730 Required clearing balances 10,315 - 2 + 1,502 10,315 Adjustments to compensate for float 415 - 186 - 217 415 Other 247 + 8 + 28 281 Other liabilities and capital 19,659 + 209 + 1,868 19,665 Total factors, other than reserve balances, absorbing reserve funds 736,967 + 3,747 + 65,236 737,681 Reserve balances with Federal Reserve Banks 12,728 + 6,620 + 1,267 17,111 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 874,595 + 4,684 ------ 878,685 U.S. Treasury 700,321 + 2,502 ------ 706,434 Federal agency 174,274 + 2,182 ------ 172,250 Securities lent to dealers 324 - 663 - 462 242 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 effect 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 Feb 19, 2003 Feb 12, 2003 Feb 20, 2002 Assets Gold certificate account 11,039 0 - 5 Special drawing rights certificate account 2,200 0 0 Coin 1,123 - 19 - 26 Securities, repurchase agreements, and loans 665,786 + 14,079 + 63,190 Securities held outright 631,273 + 316 + 64,441 U.S. Treasury (1) 631,263 + 316 + 64,441 Bills (2) 227,561 + 323 + 37,929 Notes and bonds, nominal (2) 390,217 0 + 24,125 Notes and bonds, inflation-indexed (2) 12,242 0 + 2,056 Inflation compensation (3) 1,242 - 8 + 330 Federal agency (2) 10 0 0 Repurchase agreements (4) 34,496 + 13,750 - 1,253 Loans 17 + 13 + 2 Items in process of collection (1,153) 14,167 + 6,338 + 180 Bank premises 1,557 + 16 + 46 Other assets (5) 35,548 - 3,285 + 1,551 Total assets (1,153) 731,420 + 17,128 + 64,935 Liabilities Federal Reserve notes net of FR Bank holdings 651,036 + 2,953 + 43,194 Reverse repurchase agreements (6) 17,850 + 246 + 17,850 Deposits (0) 32,828 + 11,263 + 2,972 Depository institutions 28,006 + 10,299 + 3,418 U.S. Treasury, general account 4,407 + 880 - 539 Foreign official 134 + 31 + 53 Other (0) 281 + 53 + 40 Deferred availability cash items (1,153) 10,040 + 2,265 - 1,247 Other liabilities and accrued dividends (7) 2,249 - 28 - 87 Total liabilities (1,153) 714,004 + 16,700 + 62,685 Capital Accounts Capital paid in 8,434 + 30 + 994 Surplus 8,380 + 23 + 1,111 Other capital accounts 603 + 376 + 146 Total capital 17,416 + 428 + 2,251 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 effect 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, February 19, 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 17 46,317 + 1,810 0 0 30,496 17,850 16 days to 90 days 0 131,154 - 5,483 0 0 4,000 0 91 days to 1 year 0 145,010 + 2,230 10 0 ------ ------ Over 1 to 5 years ------ 177,990 + 2,158 0 0 ------ ------ Over 5 to 10 years ------ 50,961 - 395 0 0 ------ ------ Over 10 years ------ 79,831 - 3 0 0 ------ ------ All 17 631,263 + 316 10 0 34,496 17,850 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 effect 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 February 19, 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 1,123 54 38 68 52 160 117 148 65 41 75 177 127 Securities, repurchase agreements, and loans 665,786 36,169 282,887 24,274 34,830 49,235 44,949 74,288 22,447 9,872 18,661 14,010 54,164 Securities held outright 631,273 36,169 248,381 24,274 34,830 49,235 44,949 74,288 22,447 9,868 18,660 14,010 54,161 U.S. Treasury (1) 631,263 36,168 248,377 24,274 34,830 49,234 44,948 74,287 22,446 9,868 18,660 14,010 54,160 Bills (2) 227,561 13,038 89,536 8,750 12,556 17,748 16,203 26,779 8,092 3,557 6,727 5,050 19,524 Notes and bonds(3) 403,702 23,130 158,841 15,523 22,274 31,486 28,745 47,508 14,355 6,311 11,933 8,960 34,636 Federal agency (2) 10 1 4 0 1 1 1 1 0 0 0 0 1 Repurchase agreements(4) 34,496 0 34,496 0 0 0 0 0 0 0 0 0 0 Loans 17 0 10 0 0 0 0 0 0 3 0 0 3 Items in process of collection 15,321 747 978 713 1,015 1,409 1,758 1,628 814 957 1,045 796 3,461 Bank premises 1,557 92 186 50 152 144 279 116 44 127 50 142 176 Other assets(5) 35,548 1,766 12,324 1,083 2,330 5,646 2,145 3,527 969 963 887 778 3,129 Interdistrict settlement account 0 - 3,993 +30,520 - 7,084 - 6,315 - 1,958 - 4,181 -17,643 - 3,719 + 3,802 - 1,593 +13,926 - 1,762 Total Assets 732,574 35,483 332,170 19,617 32,691 55,602 46,159 63,356 21,038 15,971 19,500 30,414 60,574 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 effect 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 February 19, 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 762,147 32,822 334,983 24,966 32,287 53,854 58,116 63,414 21,907 15,020 21,416 36,009 67,353 Less: notes held by F.R. Banks 111,111 4,866 27,201 7,583 4,654 8,631 17,977 7,823 3,235 1,785 4,279 7,742 15,334 Federal Reserve notes, net 651,036 27,956 307,782 17,382 27,633 45,223 40,139 55,591 18,672 13,235 17,137 28,267 52,019 Reverse repurchase agreements (1) 17,850 1,023 7,023 686 985 1,392 1,271 2,101 635 279 528 396 1,531 Deposits 32,828 4,810 11,916 513 1,811 3,858 2,282 2,551 865 884 751 626 1,962 Depository institutions 28,006 4,805 7,241 512 1,807 3,742 2,280 2,547 858 883 749 625 1,958 U.S. Treasury, general account 4,407 0 4,407 0 0 0 0 0 0 0 0 0 0 Foreign official 134 2 111 1 3 7 2 3 1 1 1 1 3 Other 281 4 158 0 2 108 0 1 7 0 1 0 0 Deferred availability cash items 11,193 649 885 445 696 678 1,297 1,085 346 803 571 649 3,091 Other liabilities and accrued dividends (2) 2,249 136 680 101 127 240 183 241 101 81 90 86 184 Total liabilities 715,157 34,574 328,287 19,128 31,252 51,391 45,171 61,569 20,618 15,281 19,076 30,024 58,786 Capital Capital paid in 8,434 437 1,854 234 692 2,080 475 861 200 341 204 188 868 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 603 35 221 23 44 58 37 69 20 9 19 15 53 Total liabilities and capital 732,574 35,483 332,170 19,617 32,691 55,602 46,159 63,356 21,038 15,971 19,500 30,414 60,574 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 Feb 19, 2003 Federal Reserve notes, net of F.R. Bank holdings 651,036 Collateral held against Federal Reserve notes 651,036 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 637,798 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities (1) 665,769 Less:face value of securities under reverse repurchase agreements 17,856 U.S. Treasury and agency securities eligible to be pledged 647,913 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 effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements.