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 July 5, 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 Jul 3, 2002 Jun 26, 2002 Jul 4, 2001 Jul 3, 2002 Reserve Bank Credit 659,792 + 3,731 + 65,397 656,495 U.S. government securities (1) Bought outright-system account (2,3) 590,854 - 834 + 56,808 591,256 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) 30,000 + 4,179 + 7,814 26,500 Acceptances 0 0 0 0 Loans to depository institutions Adjustment credit 9 + 4 - 18 1 Seasonal credit 168 + 6 + 20 163 Extended credit 0 0 0 0 Float -214 - 65 - 1,398 -186 Other F.R. assets 38,964 + 440 + 2,170 38,751 Gold stock 11,044 0 0 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding 33,787 + 14 + 1,117 33,787 Total factors supplying reserve funds 706,822 + 3,745 + 66,514 703,525 Currency in circulation* 659,775 + 4,530 + 61,389 664,157 Reverse repurchase agreements -- triparty (4) 0 0 0 0 Treasury cash holdings* 395 - 2 - 45 395 Deposits,other than reserve balances,with F.R.Banks Treasury 6,148 - 815 - 296 5,174 Foreign 83 - 21 - 39 79 Service-related balances and adjustments (5) 10,134 - 169 + 2,562 10,134 Other 231 - 6 - 54 243 Other F.R. liabilities and capital 20,106 - 147 + 2,381 19,354 Total factors, other than reserve balances, absorbing reserve funds 696,872 + 3,372 + 65,898 699,535 Reserve balances with F.R. Banks (6) 9,950 + 373 + 616 3,990 On July 3, 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 $ 792,994 million, a change of $ + 15,952 million for the week. The total includes $ 632,733 million of U.S. government securities and $ 160,260 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 $ 23,723 million (daily average over statement week) and $ 24,442 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 23,723 million (daily average) and $ 24,442 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 1,429 million (daily average) and $ 1,765 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,216 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 $ 9,902 million and adjustments of $ 233 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 Jul 3, 2002 Jun 26, 2002 Jul 4, 2001 ASSETS Gold certificate account 11,044 0 0 Special drawing rights certificate account 2,200 0 0 Coin 905 - 26 - 187 Loans 164 - 16 + 7 Acceptances 0 0 0 Repurchase agreements -- triparty (1) 26,500 - 7,750 + 6,150 Federal agency obligations (2) Bought outright 10 0 0 Held under repurchase agreements 0 0 0 U.S. government securities (2) Bought outright--Bills 196,164 - 2,186 + 15,436 Notes (3) 289,505 + 901 + 37,077 Bonds (4) 105,586 + 150 + 5,788 Total bought outright (5) 591,256 - 1,134 + 58,302 Held under repurchase agreements 0 0 0 Total U.S. government securities 591,256 - 1,134 + 58,302 Total loans and securities 617,930 - 8,900 + 64,459 Items in process of collection (1,041) 8,953 + 1,715 - 4,641 Bank premises 1,518 0 + 8 Other assets (6) 37,229 - 170 + 2,581 TOTAL ASSETS (1,041) 679,779 - 7,381 + 62,220 LIABILITIES Federal Reserve notes 631,671 + 6,276 + 61,171 Reverse repurchase agreements -- triparty (1) 0 0 0 Deposits Depository institutions 14,613 - 11,990 + 1,791 U.S. Treasury--general account 5,174 - 2,446 - 510 Foreign--official accounts 79 + 5 0 Other (0) 243 + 4 - 59 Total deposits (0) 20,108 - 14,428 + 1,222 Deferred availability cash items (1,041) 8,646 + 1,547 - 1,780 Other liabilities and accrued dividends (7) 2,317 - 266 - 754 TOTAL LIABILITIES (1,041) 662,742 - 6,872 + 59,860 CAPITAL ACCOUNTS Capital paid in 8,334 + 4 + 1,191 Surplus 7,312 0 + 714 Other capital accounts 1,391 - 514 + 455 *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 $ 6,591 million of inflation-indexed securities valued at the original face amount and $ 715 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,011 million of inflation-indexed securities valued at the original face amount and $ 501 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 24,442 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,765 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, July 3, 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 46 18,619 - 3,514 0 0 17,500 0 16 days to 90 days 118 134,956 + 923 0 0 9,000 0 91 days to 1 year 0 134,401 - 293 0 0 ------ ------ Over 1 to 5 years 169,228 + 1,740 10 0 ------ ------ Over 5 to 10 years 52,489 + 5 0 0 ------ ------ Over 10 years 81,563 + 5 0 0 ------ ------ Total 164 591,256 - 1,134 10 0 26,500 0 1 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,216 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 July 3, 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 11,044 533 4,369 430 522 819 926 1,080 346 179 309 485 1,046 Special drawing rights certif. acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 905 44 41 42 44 122 101 113 55 34 65 127 118 Loans 164 2 0 0 0 0 4 48 31 49 20 5 7 Acceptances 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 26,500 0 26,500 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 196,164 11,239 77,183 7,543 10,823 15,299 13,968 23,085 6,975 3,067 5,799 4,354 16,830 Notes (3) 289,505 16,587 113,909 11,132 15,973 22,579 20,614 34,069 10,294 4,526 8,558 6,425 24,838 Bonds (4) 105,586 6,050 41,544 4,060 5,826 8,235 7,518 12,425 3,754 1,651 3,121 2,343 9,059 Total bought outright(5) 591,256 33,876 232,636 22,735 32,622 46,114 42,100 69,579 21,024 9,243 17,477 13,122 50,727 Held under repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0 0 Total U.S. govt. securities 591,256 33,876 232,636 22,735 32,622 46,114 42,100 69,579 21,024 9,243 17,477 13,122 50,727 Total loans and securities 617,930 33,878 259,140 22,736 32,623 46,114 42,104 69,629 21,055 9,292 17,497 13,127 50,735 Items in process of collection 9,994 632 838 407 553 617 1,035 836 482 664 660 597 2,674 Bank premises 1,518 92 183 49 152 130 280 109 43 124 49 137 171 Other assets(6) 37,229 1,948 13,022 1,259 2,498 5,420 2,504 3,842 984 635 978 818 3,321 Interdistrict settlement account 0 - 3,912 + 6,680 - 2,882 - 4,753 + 1,176 + 1,019 - 5,700 - 1,775 + 4,587 - 1,058 + 9,727 - 3,109 TOTAL ASSETS 680,819 33,330 285,146 22,124 31,743 54,545 48,136 70,120 21,260 15,545 18,566 25,115 55,190 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 $ 6,591 million of inflation-indexed securities valued at the original face amount and $ 715 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,011 million of inflation-indexed securities valued at the original face amount and $ 501 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 24,442 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 1,765 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 July 3, 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 631,671 30,932 271,249 20,586 28,407 47,015 44,793 65,049 19,987 13,977 16,989 23,637 49,049 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 0 0 0 0 0 0 0 Deposits Depository institutions 14,613 622 2,896 602 1,316 2,217 1,025 2,336 462 386 606 591 1,554 U.S. Treasury--general account 5,174 0 5,174 0 0 0 0 0 0 0 0 0 0 Foreign--official accounts 79 2 55 1 3 7 2 3 1 1 1 1 3 Other 243 34 141 0 1 60 0 1 3 0 1 1 0 Total deposits 20,108 658 8,266 603 1,319 2,285 1,027 2,340 465 386 608 592 1,558 Deferred credit items 9,687 711 995 343 491 763 1,085 794 271 622 469 450 2,693 Other liabilities and accrued dividends (2) 2,317 140 740 105 130 214 194 251 104 73 93 89 184 TOTAL LIABILITIES 663,783 32,440 281,250 21,637 30,348 50,276 47,099 68,434 20,828 15,058 18,160 24,769 53,484 CAPITAL ACCOUNTS Capital paid in 8,334 432 1,852 236 686 2,122 473 818 208 305 197 170 836 Surplus 7,312 418 1,504 221 665 1,757 535 793 149 118 191 164 796 Other capital accounts 1,391 39 540 29 44 390 29 75 75 64 18 12 75 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 680,819 33,330 285,146 22,124 31,743 54,545 48,136 70,120 21,260 15,545 18,566 25,115 55,190 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 751,185 35,070 309,232 26,787 33,000 56,647 60,359 70,641 23,468 15,733 20,853 33,822 65,573 Less--Held by F.R. Banks 119,514 4,139 37,983 6,200 4,593 9,633 15,566 5,592 3,480 1,756 3,864 10,184 16,525 F.R. notes, net 631,671 30,932 271,249 20,586 28,407 47,015 44,793 65,049 19,987 13,977 16,989 23,637 49,049 Collateral held against F.R. notes Gold certificate account 11,044 Special drawing rights certificate account 2,200 Other eligible assets 662 U.S. govt. and agency securities(3) 617,766 Total collateral 631,671 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.