FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks April 24, 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 23, 2003 Apr 16, 2003 Apr 24, 2002 Apr 23, 2003 Federal Reserve Banks Reserve Bank Credit 709,678 - 1,611 + 69,285 710,210 Securities held outright 646,852 + 1,183 + 66,576 646,901 U.S. Treasury (1) 646,842 + 1,183 + 66,576 646,891 Bills (2) 235,855 + 142 + 42,626 235,895 Notes and bonds, nominal (2) 396,776 + 1,016 + 21,890 396,776 Notes and bonds, inflation-indexed (2) 12,814 0 + 1,684 12,814 Inflation compensation (3) 1,396 + 25 + 375 1,406 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 23,893 - 2,928 + 1,929 24,500 Loans to depository institutions 28 - 8 - 36 30 Primary credit 4 - 12 + 4 3 Secondary credit 0 0 0 0 Seasonal credit 24 + 4 - 32 27 Adjustment credit 0 0 - 8 0 Float -441 - 158 + 92 -721 Other Federal Reserve assets 39,347 + 301 + 726 39,500 Gold stock 11,043 0 - 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 34,808 + 14 + 1,117 34,808 Total factors supplying reserve funds 757,729 - 1,597 + 70,401 758,261 Currency in circulation(5) 687,482 - 102 + 43,973 688,443 Reverse repurchase agreements (6) 20,552 - 193 + 20,552 19,991 Foreign official and international accounts 20,552 - 193 + 20,552 19,991 Dealers 0 0 0 0 Treasury cash holdings 360 + 3 - 39 352 Deposits with F.R.Banks, other than reserve balances 20,680 + 2,869 + 3,242 20,938 U.S. Treasury, general account 8,927 + 2,457 + 1,933 9,285 Foreign official 106 - 14 + 24 105 Service-related 11,314 + 335 + 1,184 11,314 Required clearing balances 10,830 + 10 + 962 10,830 Adjustments to compensate for float 484 + 324 + 223 484 Other 333 + 92 + 101 234 Other liabilities and capital 20,145 + 204 + 1,287 19,804 Total factors, other than reserve balances, absorbing reserve funds 749,219 + 2,780 + 69,015 749,528 Reserve balances with Federal Reserve Banks 8,511 - 4,376 + 1,387 8,734 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 893,084 - 5,114 ------ 888,763 U.S. Treasury 717,232 - 2,824 ------ 713,171 Federal agency 175,852 - 2,291 ------ 175,591 Securities lent to dealers 100 - 350 - 339 219 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 23, 2003 Apr 16, 2003 Apr 24, 2002 Assets Gold certificate account 11,038 0 - 6 Special drawing rights certificate account 2,200 0 0 Coin 1,043 - 13 + 44 Securities, repurchase agreements, and loans 671,431 - 13,410 + 68,317 Securities held outright 646,901 + 106 + 64,853 U.S. Treasury (1) 646,891 + 106 + 64,853 Bills (2) 235,895 + 81 + 42,182 Notes and bonds, nominal (2) 396,776 0 + 20,608 Notes and bonds, inflation-indexed (2) 12,814 0 + 1,684 Inflation compensation (3) 1,406 + 26 + 380 Federal agency (2) 10 0 0 Repurchase agreements (4) 24,500 - 13,500 + 3,500 Loans 30 - 16 - 36 Items in process of collection (1,259) 7,589 - 695 + 196 Bank premises 1,560 + 1 + 45 Other assets (5) 38,296 + 494 + 1,104 Total assets (1,259) 733,157 - 13,624 + 69,700 Liabilities Federal Reserve notes net of FR Bank holdings 655,025 - 487 + 42,588 Reverse repurchase agreements (6) 19,991 + 190 + 19,991 Deposits (0) 30,369 - 12,426 + 5,701 Depository institutions 20,745 - 12,892 + 2,639 U.S. Treasury, general account 9,285 + 464 + 3,030 Foreign official 105 + 4 + 29 Other (0) 234 - 2 + 3 Deferred availability cash items (1,259) 7,968 - 835 + 304 Other liabilities and accrued dividends (7) 2,275 + 36 - 148 Total liabilities (1,259) 715,628 - 13,521 + 68,437 Capital Accounts Capital paid in 8,526 + 4 + 470 Surplus 8,380 0 + 1,090 Other capital accounts 623 - 106 - 297 Total capital 17,529 - 103 + 1,263 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 23, 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 29 51,906 + 2,243 0 0 20,500 19,991 16 days to 90 days 1 127,946 - 1,836 0 0 4,000 0 91 days to 1 year 0 154,035 + 462 10 0 ------ ------ Over 1 to 5 years ------ 181,533 + 7 0 0 ------ ------ Over 5 to 10 years ------ 51,529 - 780 0 0 ------ ------ Over 10 years ------ 79,942 + 10 0 0 ------ ------ All 30 646,891 + 106 10 0 24,500 19,991 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 23, 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 11,038 495 4,705 380 477 808 863 982 331 224 303 507 963 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 1,043 51 39 76 43 139 97 132 59 42 71 164 130 Securities, repurchase agreements, and loans 671,431 31,277 301,265 20,225 30,312 49,749 43,704 65,371 20,362 14,450 17,389 25,352 51,975 Securities held outright 646,901 31,275 276,765 20,225 30,312 49,749 43,702 65,370 20,352 14,440 17,385 25,352 51,975 U.S. Treasury (1) 646,891 31,274 276,761 20,224 30,312 49,748 43,701 65,369 20,352 14,440 17,385 25,351 51,974 Bills (2) 235,895 11,404 100,923 7,375 11,053 18,141 15,936 23,837 7,422 5,266 6,340 9,245 18,953 Notes and bonds(3) 410,996 19,870 175,837 12,849 19,258 31,607 27,765 41,531 12,930 9,174 11,045 16,107 33,021 Federal agency (2) 10 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements(4) 24,500 0 24,500 0 0 0 0 0 0 0 0 0 0 Loans 30 2 0 0 0 0 2 2 9 10 4 0 1 Items in process of collection 8,848 445 540 451 261 566 691 1,215 476 470 452 533 2,745 Bank premises 1,560 91 186 51 152 144 278 117 44 126 51 144 177 Other assets(5) 38,296 1,848 13,948 1,100 2,336 5,850 2,237 3,558 994 1,120 917 1,129 3,257 Interdistrict settlement account 0 - 3,439 +15,556 - 2,634 - 2,104 - 2,847 - 3,746 - 4,691 - 1,555 - 762 - 229 + 2,804 + 3,647 Total Assets 734,416 30,885 337,113 19,732 31,581 54,555 44,291 66,896 20,782 15,700 19,021 30,732 63,128 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 23, 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 763,141 32,200 337,401 24,348 31,506 54,102 59,145 62,999 22,213 15,129 21,206 35,132 67,759 Less: notes held by F.R. Banks 108,116 4,715 26,695 7,359 4,385 8,436 20,071 6,899 3,573 1,440 4,286 7,036 13,222 Federal Reserve notes, net 655,025 27,485 310,706 16,989 27,121 45,666 39,074 56,101 18,640 13,689 16,921 28,097 54,537 Reverse repurchase agreements (1) 19,991 966 8,553 625 937 1,537 1,351 2,020 629 446 537 783 1,606 Deposits 30,369 777 12,293 1,019 1,388 2,244 1,690 6,068 645 442 655 750 2,399 Depository institutions 20,745 767 2,777 1,016 1,384 2,172 1,688 6,056 640 440 653 749 2,404 U.S. Treasury, general account 9,285 0 9,285 0 0 0 0 0 0 0 0 0 0 Foreign official 105 2 82 1 3 7 2 3 1 1 1 1 3 Other 234 9 150 2 1 64 0 9 4 0 1 1 -8 Deferred availability cash items 9,227 615 893 490 586 658 1,011 691 347 339 402 601 2,596 Other liabilities and accrued dividends (2) 2,275 132 708 94 123 261 183 221 97 84 87 106 177 Total liabilities 716,887 29,974 333,153 19,217 30,155 50,366 43,309 65,101 20,358 15,000 18,602 30,336 61,316 Capital Capital paid in 8,526 446 1,877 251 700 2,070 476 874 206 345 204 189 887 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 623 28 275 32 24 47 30 63 18 16 14 20 57 Total liabilities and capital 734,416 30,885 337,113 19,732 31,581 54,555 44,291 66,896 20,782 15,700 19,021 30,732 63,128 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 23, 2003 Federal Reserve notes, net of F.R. Bank holdings 655,025 Collateral held against Federal Reserve notes 655,025 Gold certificate account 11,038 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 641,787 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities (1) 671,401 Less:face value of securities under reverse repurchase agreements 19,997 U.S. Treasury and agency securities eligible to be pledged 651,404 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.