Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page


Release Date: March 28, 2002

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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
                                                                                             March 28, 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     Mar 27, 2002 Mar 20, 2002 Mar 28, 2001 Mar 27, 2002

Reserve Bank Credit                                         635,208    -   2,061    +  59,122      637,349
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    575,740    +   1,642    +  51,810      576,093
    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)                      22,214    -   4,400    +   6,288       24,000
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                            14    +       8    +      11            1
    Seasonal credit                                              20            0    +       2           21
    Extended credit                                               0            0            0            0
   Float                                                       -169    +     206    -     197         -342
   Other F.R. assets                                         37,380    +     484    +   1,209       37,565
Gold stock                                                   11,044            0    -       2       11,044
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding                                33,363    +      14    +   1,128       33,363
        Total factors supplying reserve funds               681,816    -   2,046    +  60,249      683,956
                                                                   
Currency in circulation*                                    640,361    +     580    +  54,939      642,412
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         422    -       7    -      67          412
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    5,198    -   1,313    +     577        5,009
  Foreign                                                        86    -       9    -      12           71
  Service-related balances and adjustments (5)               10,181    +     948    +   3,473       10,181
  Other                                                         205    -       2    -      91          203
Other F.R. liabilities and capital                           18,096    -     180    -     229       17,913
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             674,550    +      16    +  58,590      676,201

Reserve balances with F.R. Banks  (6)                         7,266    -   2,063    +   1,659        7,756
                                                                
On     March 27, 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 $    740,723 million, a change of $  -   1,853 million for the week. The total includes
$    599,074 million of U.S. government securities and $    141,649 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 $     18,913 million (daily average over statement week) and $     18,985 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     18,913 million (daily average)
   and $     18,985 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      2,484 million (daily average) and $      3,051 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $     10,658 million of inflation-indexed securities valued at the original face amount and 
   $        949 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 $      9,629 million and adjustments of $        551 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
                                                           Mar 27, 2002     Mar 20, 2002     Mar 28, 2001
                ASSETS
Gold certificate account                                        11,044                0        -       2
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,078        -       7        -      69
Loans                                                               22        -       2        +       6
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           24,000        -   4,550        +   8,500
Federal agency obligations (2)          
  Bought outright                                                   10                0                0
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       193,104        +   1,661        +   7,771
                   Notes (3)                                   278,461        +     294        +  34,803
                   Bonds (4)                                   104,528        +     293        +   8,572
    Total bought outright (5)                                  576,093        +   2,249        +  51,147
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          576,093        +   2,249        +  51,147
       Total loans and securities                              600,125        -   2,304        +  59,653
                          
Items in process of collection                    (1,166)        7,292        -   1,624        +     611
Bank premises                                                    1,511                0        +      32
Other assets (6)                                                35,842        +     309        +     857
                TOTAL ASSETS                      (1,166)      659,092        -   3,626        +  61,082
                          
                LIABILITIES
Federal Reserve notes                                          610,539        +   1,407        +  54,467
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       18,099        -   4,047        +   6,869
  U.S. Treasury--general account                                 5,009        -     591        +     245
  Foreign--official accounts                                        71        -       3        -      74
    Other                                             (0)          203        -      16        -      48
      Total deposits                                  (0)       23,382        -   4,657        +   6,993
Deferred availability cash items                  (1,166)        7,259        -     338        -     270
Other liabilities and accrued dividends (7)                      2,440        +      59        -   1,377
                TOTAL LIABILITIES                 (1,166)      643,619        -   3,530        +  59,811
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,650        +       4        +     621
Surplus                                                          7,270        -       3        +     781
Other capital accounts                                             552        -      97        -     133

*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 $      5,766 million of inflation-indexed securities valued at the original face amount and 
   $        542 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Includes $      4,892 million of inflation-indexed securities valued at the original face amount and 
   $        407 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     18,985 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      3,051 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,     March 27, 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              22       23,545   -   1,462            0           0       21,000           0
16 days to 90 days           0      126,066   +   1,853            0           0        3,000           0
91 days to 1 year            0      133,777   +   1,271            0           0     ------      ------
Over 1 to 5 years                   159,198   +       1           10           0     ------      ------
Over 5 to 10 years                   52,249   +     292            0           0     ------      ------
Over 10 years                        81,259   +     294            0           0     ------      ------
                   		 	
Total                       22      576,093   +   2,249           10           0       24,000           0

1  Includes $     10,658 million of inflation-indexed securities valued at the original face amount and 
   $        949 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     March 27, 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        546      4,450        454        538        741        871      1,028        343        143        317        477      1,136
Special drawing rights certif. acct.           2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                           1,078         66         62         57         59        156         90        136         59         38         80        132        143
                       
Loans                                             22          1          0          0          0          1          0          7          0          9          2          0          3
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          24,000          0     24,000          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                     193,104     11,602     79,102      7,932     11,305     11,536     13,278     21,871      6,960        602      5,960      3,501     19,455
                   Notes (3)                 278,461     16,731    114,067     11,437     16,302     16,635     19,148     31,538     10,037        869      8,595      5,048     28,054
                   Bonds (4)                 104,528      6,280     42,818      4,293      6,120      6,245      7,188     11,839      3,768        326      3,226      1,895     10,531
     Total bought outright(5)                576,093     34,613    235,987     23,662     33,727     34,416     39,614     65,247     20,764      1,797     17,781     10,444     58,040
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             576,093     34,613    235,987     23,662     33,727     34,416     39,614     65,247     20,764      1,797     17,781     10,444     58,040
       Total loans and securities            600,125     34,614    259,991     23,663     33,728     34,418     39,615     65,256     20,765      1,806     17,784     10,444     58,044
                       
Items in process of collection                 8,457        506        790        418        294        579        710        703        478        535        554        442      2,446
Bank premises                                  1,511         92        179         49        151        131        280        107         43        123         49        137        171
Other assets(6)                               35,842      1,925     13,019      1,273      2,420      4,725      2,369      3,626        971        385        969        719      3,440
Interdistrict settlement account                   0    - 4,799    -14,093    - 3,531    - 4,043    +13,052    + 2,937    + 1,799    -   518    +12,268    -   752    +10,365    -12,683
          TOTAL ASSETS                       660,258     33,065    265,271     22,467     33,252     53,948     47,038     72,867     22,211     15,328     19,067     22,813     52,931

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 $      5,766 million of inflation-indexed securities valued at the original face amount and  $        542 million 
   of compensation that adjusts for the effects of inflation on the principal of such  securities.
4  Includes $      4,892 million of inflation-indexed securities valued at the original face amount and  $        407 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     18,985 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      3,051 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     March 27, 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                         610,539     30,440    252,188     20,734     29,677     46,231     43,970     67,034     20,871     13,844     17,333     21,417     46,798
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      18,099        960      2,580        579      1,681      3,251      1,044      3,377        694        535        756        629      2,011
  U.S. Treasury--general account                5,009          0      5,009          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                       71          2         48          1          3          7          2          3          1          1          1          1          3
  Other                                           203         19        131          1          1         36          0          3          4          0          7          1          0
    Total deposits                             23,382        981      7,768        581      1,685      3,294      1,047      3,383        699        535        764        630      2,015
Deferred credit items                           8,425        617      1,025        582        372        651        817        560        222        503        473        339      2,263
Other liabilities and accrued                 
  dividends (2)                                 2,440        152        774        111        142        235        201        253        107         62        100         89        214
    TOTAL LIABILITIES                         644,785     32,189    261,754     22,008     31,875     50,411     46,035     71,230     21,901     14,945     18,671     22,475     51,291
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,650        430      1,671        223        683      1,772        448        800        150        306        194        168        805
Surplus                                         7,270        418      1,504        221        665      1,757        535        793        149         77        191        164        796
Other capital accounts                            552         28        342         15         29          8         20         43         12          0         11          6         40
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              660,258     33,065    265,271     22,467     33,252     53,948     47,038     72,867     22,211     15,328     19,067     22,813     52,931
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        748,344     35,270    294,521     27,911     34,263     56,081     62,744     74,150     24,100     16,102     21,450     34,118     67,633
  Less--Held by F.R. Banks                    137,806      4,830     42,333      7,177      4,587      9,850     18,774      7,115      3,229      2,258      4,117     12,701     20,835
  F.R. notes, net                             610,539     30,440    252,188     20,734     29,677     46,231     43,970     67,034     20,871     13,844     17,333     21,417     46,798
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)        597,294
     Total collateral                         610,539

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.

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Last update: March 28, 2002