FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks April 3, 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 Apr 2, 2003 Mar 26, 2003 Apr 3, 2002 Apr 2, 2003 Federal Reserve Banks Reserve Bank Credit 707,835 + 8,852 + 65,702 709,679 Securities held outright 641,311 + 1,182 + 65,541 641,482 U.S. Treasury (1) 641,301 + 1,182 + 65,541 641,472 Bills (2) 232,544 + 652 + 39,977 232,708 Notes and bonds, nominal (2) 394,621 0 + 23,038 394,621 Notes and bonds, inflation-indexed (2) 12,814 + 490 + 2,156 12,814 Inflation compensation (3) 1,322 + 40 + 370 1,329 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 28,464 + 9,178 - 322 30,500 Loans to depository institutions 11 + 1 - 315 15 Primary credit 4 + 2 + 4 2 Secondary credit 0 0 0 0 Seasonal credit 7 - 1 - 19 13 Adjustment credit 0 0 - 300 0 Float -593 - 2,005 - 308 -796 Other Federal Reserve assets 38,642 + 496 + 1,106 38,478 Gold stock 11,043 0 - 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 34,709 + 14 + 1,079 34,709 Total factors supplying reserve funds 755,787 + 8,866 + 66,781 757,631 Currency in circulation(5) 685,796 + 1,358 + 42,866 687,628 Reverse repurchase agreements (6) 19,291 + 971 + 19,291 19,729 Foreign official and international accounts 19,291 + 971 + 19,291 19,729 Dealers 0 0 0 0 Treasury cash holdings 370 - 24 - 40 353 Deposits with F.R.Banks, other than reserve balances 17,259 - 519 + 1,559 17,837 U.S. Treasury, general account 5,654 - 262 + 259 6,199 Foreign official 123 - 117 - 64 103 Service-related 11,258 - 149 + 1,389 11,258 Required clearing balances 10,972 0 + 1,341 10,972 Adjustments to compensate for float 285 - 150 + 47 285 Other 225 + 10 - 24 277 Other liabilities and capital 19,963 + 551 + 1,651 19,721 Total factors, other than reserve balances, absorbing reserve funds 742,679 + 2,337 + 65,327 745,267 Reserve balances with Federal Reserve Banks 13,108 + 6,529 + 1,453 12,363 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 897,062 + 1,954 ------ 900,133 U.S. Treasury 717,586 + 2,016 ------ 721,059 Federal agency 179,476 - 62 ------ 179,074 Securities lent to dealers 1,867 - 891 + 341 1,422 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 Apr 2, 2003 Mar 26, 2003 Apr 3, 2002 Assets Gold certificate account 11,038 - 1 - 6 Special drawing rights certificate account 2,200 0 0 Coin 1,092 + 11 + 29 Securities, repurchase agreements, and loans 671,998 + 5,590 + 65,150 Securities held outright 641,482 + 581 + 64,254 U.S. Treasury (1) 641,472 + 581 + 64,254 Bills (2) 232,708 + 565 + 39,887 Notes and bonds, nominal (2) 394,621 0 + 21,837 Notes and bonds, inflation-indexed (2) 12,814 0 + 2,156 Inflation compensation (3) 1,329 + 17 + 373 Federal agency (2) 10 0 0 Repurchase agreements (4) 30,500 + 5,000 + 3,000 Loans 15 + 8 - 2,104 Items in process of collection (1,175) 8,376 + 1,811 + 187 Bank premises 1,557 - 1 + 46 Other assets (5) 37,146 + 25 + 1,450 Total assets (1,175) 733,407 + 7,436 + 66,856 Liabilities Federal Reserve notes net of FR Bank holdings 654,360 + 1,430 + 41,573 Reverse repurchase agreements (6) 19,729 + 1,498 + 19,729 Deposits (0) 30,583 + 2,504 + 3,429 Depository institutions 24,004 + 2,189 + 3,241 U.S. Treasury, general account 6,199 + 272 + 228 Foreign official 103 - 59 - 20 Other (0) 277 + 102 - 20 Deferred availability cash items (1,175) 9,014 + 1,884 + 852 Other liabilities and accrued dividends (7) 2,218 - 30 - 218 Total liabilities (1,175) 715,904 + 7,286 + 65,364 Capital Accounts Capital paid in 8,514 + 21 + 511 Surplus 8,380 0 + 1,108 Other capital accounts 609 + 129 - 127 Total capital 17,503 + 151 + 1,491 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, April 2, 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 6 37,761 - 7,002 0 0 25,500 19,729 16 days to 90 days 9 139,767 + 6,050 0 0 5,000 0 91 days to 1 year 0 150,962 + 1,640 10 0 ------ ------ Over 1 to 5 years ------ 180,779 - 118 0 0 ------ ------ Over 5 to 10 years ------ 52,293 + 6 0 0 ------ ------ Over 10 years ------ 79,911 + 7 0 0 ------ ------ All 15 641,472 + 581 10 0 30,500 19,729 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 April 2, 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 11,038 533 4,363 430 522 819 926 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 1,092 52 40 80 45 150 103 136 62 43 73 170 138 Securities, repurchase agreements, and loans 671,998 36,753 282,898 24,667 35,394 50,031 45,676 75,491 22,814 10,034 18,965 14,237 55,038 Securities held outright 641,482 36,753 252,398 24,667 35,394 50,031 45,676 75,490 22,810 10,028 18,962 14,237 55,037 U.S. Treasury (1) 641,472 36,753 252,394 24,666 35,393 50,030 45,675 75,489 22,809 10,028 18,962 14,236 55,036 Bills (2) 232,708 13,333 91,561 8,948 12,840 18,150 16,570 27,385 8,275 3,638 6,879 5,165 19,965 Notes and bonds(3) 408,765 23,420 160,833 15,718 22,554 31,881 29,106 48,103 14,535 6,390 12,083 9,072 35,070 Federal agency (2) 10 1 4 0 1 1 1 1 0 0 0 0 1 Repurchase agreements(4) 30,500 0 30,500 0 0 0 0 0 0 0 0 0 0 Loans 15 0 0 0 0 0 0 1 5 6 2 0 1 Items in process of collection 9,550 501 574 432 773 736 934 753 518 478 604 397 2,851 Bank premises 1,557 91 185 50 152 144 278 117 44 126 51 144 176 Other assets(5) 37,146 1,860 12,968 1,180 2,419 5,756 2,228 3,721 1,023 987 933 816 3,255 Interdistrict settlement account 0 - 8,360 +36,716 - 7,027 - 6,946 - 3,874 - 4,918 -18,552 - 4,029 + 3,963 - 1,829 +14,134 + 722 Total Assets 734,581 31,545 338,619 19,895 32,462 53,909 45,393 62,958 20,849 15,840 19,172 30,481 63,458 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 April 2, 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 766,177 32,325 338,762 24,795 31,601 53,896 59,666 62,999 22,061 15,015 21,327 35,492 68,236 Less: notes held by F.R. Banks 111,817 4,870 28,464 7,441 4,543 8,880 20,169 7,478 3,455 1,407 4,386 7,168 13,555 Federal Reserve notes, net 654,360 27,455 310,298 17,354 27,058 45,016 39,498 55,521 18,606 13,608 16,941 28,324 54,681 Reverse repurchase agreements (1) 19,729 1,130 7,763 759 1,089 1,539 1,405 2,322 702 308 583 438 1,693 Deposits 30,583 1,188 14,921 620 2,119 2,163 2,176 2,285 657 765 684 670 2,335 Depository institutions 24,004 1,185 8,493 619 2,116 2,039 2,174 2,281 652 764 682 669 2,331 U.S. Treasury, general account 6,199 0 6,199 0 0 0 0 0 0 0 0 0 0 Foreign official 103 2 80 1 3 7 2 3 1 1 1 1 3 Other 277 1 150 0 0 117 0 1 5 0 1 1 0 Deferred availability cash items 10,188 723 1,036 548 632 752 1,150 791 369 384 454 580 2,772 Other liabilities and accrued dividends (2) 2,218 137 673 99 131 234 182 233 99 80 89 86 175 Total liabilities 717,078 30,633 334,691 19,380 31,027 49,703 44,410 61,151 20,433 15,145 18,752 30,098 61,655 Capital Capital paid in 8,514 444 1,878 250 700 2,069 475 874 200 345 204 189 887 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 609 32 241 33 32 63 33 75 17 10 15 9 48 Total liabilities and capital 734,581 31,545 338,619 19,895 32,462 53,909 45,393 62,958 20,849 15,840 19,172 30,481 63,458 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 Apr 2, 2003 Federal Reserve notes, net of F.R. Bank holdings 654,360 Collateral held against Federal Reserve notes 654,360 Gold certificate account 11,038 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 641,122 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities (1) 671,982 Less:face value of securities under reverse repurchase agreements 19,736 U.S. Treasury and agency securities eligible to be pledged 652,247 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.