FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 1, 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 30, 2003 Apr 23, 2003 May 1, 2002 Apr 30, 2003 Federal Reserve Banks Reserve Bank Credit 715,838 + 6,160 + 68,451 724,408 Securities held outright 647,057 + 205 + 66,128 647,281 U.S. Treasury (1) 647,047 + 205 + 66,128 647,271 Bills (2) 236,035 + 180 + 43,592 236,249 Notes and bonds, nominal (2) 396,776 0 + 20,608 396,776 Notes and bonds, inflation-indexed (2) 12,814 0 + 1,549 12,814 Inflation compensation (3) 1,422 + 26 + 380 1,431 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 28,751 + 4,858 + 1,322 37,501 Loans to depository institutions 30 + 2 - 48 35 Primary credit 0 - 4 0 0 Secondary credit 0 0 0 0 Seasonal credit 29 + 5 - 38 35 Adjustment credit 0 0 - 12 0 Float 188 + 630 + 388 -138 Other Federal Reserve assets 39,811 + 464 + 660 39,728 Gold stock 11,043 0 - 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 34,822 + 14 + 1,112 34,822 Total factors supplying reserve funds 763,903 + 6,174 + 69,562 772,473 Currency in circulation(5) 687,176 - 306 + 42,909 688,692 Reverse repurchase agreements (6) 20,949 + 397 + 20,949 20,814 Foreign official and international accounts 20,949 + 397 + 20,949 20,814 Dealers 0 0 0 0 Treasury cash holdings 350 - 10 - 43 340 Deposits with F.R.Banks, other than reserve balances 20,129 - 551 + 2,844 22,136 U.S. Treasury, general account 8,763 - 164 + 1,817 10,583 Foreign official 132 + 26 + 42 313 Service-related 11,009 - 305 + 997 11,009 Required clearing balances 10,830 0 + 960 10,830 Adjustments to compensate for float 179 - 305 + 37 179 Other 225 - 108 - 12 231 Other liabilities and capital 20,165 + 20 + 1,121 20,049 Total factors, other than reserve balances, absorbing reserve funds 748,770 - 449 + 67,781 752,031 Reserve balances with Federal Reserve Banks 15,133 + 6,622 + 1,782 20,442 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 887,022 - 6,062 ------ 893,534 U.S. Treasury 709,850 - 7,382 ------ 713,499 Federal agency 177,171 + 1,319 ------ 180,035 Securities lent to dealers 510 + 410 - 701 731 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 30, 2003 Apr 23, 2003 May 1, 2002 Assets Gold certificate account 11,039 + 1 - 5 Special drawing rights certificate account 2,200 0 0 Coin 1,021 - 22 + 39 Securities, repurchase agreements, and loans 684,817 + 13,386 + 69,350 Securities held outright 647,281 + 380 + 66,411 U.S. Treasury (1) 647,271 + 380 + 66,411 Bills (2) 236,249 + 354 + 44,233 Notes and bonds, nominal (2) 396,776 0 + 20,608 Notes and bonds, inflation-indexed (2) 12,814 0 + 1,212 Inflation compensation (3) 1,431 + 25 + 358 Federal agency (2) 10 0 0 Repurchase agreements (4) 37,501 + 13,001 + 3,001 Loans 35 + 5 - 61 Items in process of collection (1,166) 8,173 + 584 - 414 Bank premises 1,577 + 17 + 65 Other assets (5) 38,412 + 116 + 1,137 Total assets (1,166) 747,239 + 14,082 + 70,173 Liabilities Federal Reserve notes net of FR Bank holdings 655,226 + 201 + 41,202 Reverse repurchase agreements (6) 20,814 + 823 + 20,814 Deposits (0) 43,007 + 12,638 + 7,425 Depository institutions 31,880 + 11,135 + 926 U.S. Treasury, general account 10,583 + 1,298 + 6,260 Foreign official 313 + 208 + 221 Other (0) 231 - 3 + 19 Deferred availability cash items (1,166) 8,142 + 174 - 450 Other liabilities and accrued dividends (7) 2,270 - 5 - 103 Total liabilities (1,166) 729,460 + 13,832 + 68,889 Capital Accounts Capital paid in 8,545 + 19 + 489 Surplus 8,380 0 + 1,080 Other capital accounts 854 + 231 - 285 Total capital 17,779 + 250 + 1,284 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 30, 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 28 46,750 - 5,156 0 0 33,500 20,814 16 days to 90 days 7 126,284 - 1,662 0 0 4,001 0 91 days to 1 year 0 153,916 - 119 10 0 ------ ------ Over 1 to 5 years ------ 188,832 + 7,299 0 0 ------ ------ Over 5 to 10 years ------ 51,538 + 9 0 0 ------ ------ Over 10 years ------ 79,952 + 10 0 0 ------ ------ All 35 647,271 + 380 10 0 37,501 20,814 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 30, 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 11,039 495 4,706 380 477 808 863 982 331 224 303 507 963 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 1,021 50 37 76 42 136 94 129 58 41 69 162 127 Securities, repurchase agreements, and loans 684,817 31,293 314,429 20,237 30,330 49,778 43,730 65,414 20,374 14,460 17,400 25,367 52,006 Securities held outright 647,281 31,293 276,928 20,237 30,330 49,778 43,728 65,408 20,364 14,448 17,395 25,367 52,005 U.S. Treasury (1) 647,271 31,293 276,923 20,236 30,330 49,777 43,727 65,407 20,364 14,448 17,395 25,366 52,004 Bills (2) 236,249 11,422 101,075 7,386 11,070 18,168 15,960 23,873 7,433 5,273 6,349 9,259 18,981 Notes and bonds(3) 411,022 19,871 175,848 12,850 19,259 31,609 27,767 41,534 12,931 9,175 11,046 16,108 33,023 Federal agency (2) 10 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements(4) 37,501 0 37,501 0 0 0 0 0 0 0 0 0 0 Loans 35 0 0 0 0 0 2 6 10 12 4 0 1 Items in process of collection 9,339 428 556 465 465 733 730 721 445 472 675 906 2,743 Bank premises 1,577 91 185 51 151 143 278 117 43 126 51 164 176 Other assets(5) 38,412 1,779 13,986 1,105 2,358 5,915 2,249 3,583 999 1,130 921 1,112 3,274 Interdistrict settlement account 0 - 1,600 +12,134 - 2,371 - 1,945 - 1,266 - 2,843 - 7,781 - 1,028 - 280 - 158 + 2,638 + 4,500 Total Assets 748,405 32,652 346,905 20,026 31,983 56,395 45,267 63,377 21,295 16,203 19,328 30,952 64,024 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 30, 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 762,034 31,962 336,220 24,336 31,355 53,875 59,708 62,576 22,311 15,255 21,232 35,228 67,974 Less: notes held by F.R. Banks 106,807 4,679 26,350 7,399 4,238 8,201 20,122 6,632 3,527 1,478 4,208 7,005 12,968 Federal Reserve notes, net 655,226 27,283 309,870 16,937 27,118 45,674 39,586 55,945 18,784 13,777 17,023 28,223 55,006 Reverse repurchase agreements (1) 20,814 1,006 8,905 651 975 1,601 1,406 2,103 655 465 559 816 1,672 Deposits 43,007 2,680 22,453 1,309 1,772 3,900 2,123 2,604 1,012 745 792 916 2,700 Depository institutions 31,880 2,672 11,427 1,307 1,769 3,830 2,121 2,600 1,008 743 790 915 2,697 U.S. Treasury, general account 10,583 0 10,583 0 0 0 0 0 0 0 0 0 0 Foreign official 313 2 289 1 3 7 2 3 1 1 1 1 3 Other 231 7 153 1 0 62 0 1 4 0 1 0 0 Deferred availability cash items 9,308 626 948 514 546 725 976 680 305 421 443 493 2,630 Other liabilities and accrued dividends (2) 2,270 129 712 94 127 259 180 222 96 87 86 104 173 Total liabilities 730,626 31,725 342,888 19,505 30,538 52,159 44,272 61,554 20,853 15,495 18,904 30,552 62,181 Capital Capital paid in 8,545 446 1,877 251 700 2,070 475 875 217 345 204 189 896 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 854 44 331 37 42 93 44 91 26 24 18 24 80 Total liabilities and capital 748,405 32,652 346,905 20,026 31,983 56,395 45,267 63,377 21,295 16,203 19,328 30,952 64,024 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 30, 2003 Federal Reserve notes outstanding 762,034 Less: Notes held by F.R. Banks not subject to collateralization 102,753 Federal Reserve Notes to be collateralized 659,280 Collateral held against Federal Reserve notes 659,280 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 646,042 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities (1) 684,782 Less:face value of securities under reverse repurchase agreements 20,821 U.S. Treasury and agency securities eligible to be pledged 663,961 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.