Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date: July 5, 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
                                                                                               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.


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