FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks June 12, 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 Jun 11, 2003 Jun 4, 2003 Jun 12, 2002 Jun 11, 2003 Federal Reserve Banks Reserve Bank Credit 713,231 - 3,690 + 62,941 722,100 Securities held outright 651,585 + 383 + 62,515 651,613 U.S. Treasury (1) 651,575 + 383 + 62,515 651,603 Bills (2) 238,400 + 390 + 43,339 238,430 Notes and bonds, nominal (2) 398,853 0 + 17,619 398,853 Notes and bonds, inflation-indexed (2) 12,814 0 + 1,212 12,814 Inflation compensation (3) 1,508 - 6 + 345 1,505 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 23,286 - 4,527 - 650 32,500 Loans to depository institutions 62 - 14 - 49 65 Primary credit 2 - 10 + 2 0 Secondary credit 0 0 0 0 Seasonal credit 61 - 3 - 45 64 Adjustment credit 0 0 - 5 0 Float -76 + 241 + 148 -667 Other Federal Reserve assets 38,374 + 226 + 977 38,589 Gold stock 11,044 0 0 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 35,902 + 14 + 2,000 35,902 Total factors supplying reserve funds 762,377 - 3,676 + 64,941 771,246 Currency in circulation(5) 693,094 - 756 + 38,696 693,985 Reverse repurchase agreements (6) 20,816 - 1,171 + 20,816 21,211 Foreign official and international accounts 20,816 - 992 + 20,816 21,211 Dealers 0 - 179 0 0 Treasury cash holdings 385 + 9 - 26 381 Deposits with F.R.Banks, other than reserve balances 17,773 - 69 + 2,157 17,222 U.S. Treasury, general account 6,515 + 28 + 1,226 6,031 Foreign official 139 + 16 + 54 80 Service-related 10,878 - 125 + 874 10,878 Required clearing balances 10,833 0 + 1,023 10,833 Adjustments to compensate for float 45 - 125 - 149 45 Other 241 + 12 + 3 233 Other liabilities and capital 20,190 + 200 + 441 20,119 Total factors, other than reserve balances, absorbing reserve funds 752,258 - 1,787 + 62,084 752,917 Reserve balances with Federal Reserve Banks 10,119 - 1,889 + 2,857 18,329 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 935,466 + 2,097 ------ 936,154 U.S. Treasury 746,591 + 3,072 ------ 749,192 Federal agency 188,875 - 975 ------ 186,962 Securities lent to dealers 767 - 47 + 505 318 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 Jun 11, 2003 Jun 4, 2003 Jun 12, 2002 Assets Gold certificate account 11,040 0 - 4 Special drawing rights certificate account 2,200 0 0 Coin 926 + 17 - 6 Securities, repurchase agreements, and loans 684,177 + 13,700 + 60,163 Securities held outright 651,613 + 200 + 62,207 U.S. Treasury (1) 651,603 + 200 + 62,207 Bills (2) 238,430 + 207 + 43,041 Notes and bonds, nominal (2) 398,853 0 + 17,619 Notes and bonds, inflation-indexed (2) 12,814 0 + 1,212 Inflation compensation (3) 1,505 - 7 + 334 Federal agency (2) 10 0 0 Repurchase agreements (4) 32,500 + 13,500 - 2,000 Loans 65 0 - 42 Items in process of collection (1,061) 7,231 - 2,652 - 509 Bank premises 1,579 0 + 63 Other assets (5) 37,010 + 505 + 980 Total assets (1,061) 744,164 + 11,570 + 60,688 Liabilities Federal Reserve notes net of FR Bank holdings 659,386 - 692 + 35,933 Reverse repurchase agreements (6) 21,211 - 462 + 21,211 Deposits (0) 35,693 + 13,501 + 2,684 Depository institutions 29,349 + 13,602 + 1,419 U.S. Treasury, general account 6,031 - 95 + 1,304 Foreign official 80 + 3 - 29 Other (0) 233 - 10 - 10 Deferred availability cash items (1,061) 7,755 - 1,060 + 270 Other liabilities and accrued dividends (7) 2,355 + 50 - 208 Total liabilities (1,061) 726,400 + 11,337 + 59,890 Capital Accounts Capital paid in 8,656 + 72 + 362 Surplus 8,380 0 + 1,068 Other capital accounts 728 + 162 - 632 Total capital 17,764 + 234 + 798 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, June 11, 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 20 45,561 - 240 0 0 27,500 21,211 16 days to 90 days 45 143,282 - 627 0 0 5,000 0 91 days to 1 year 0 155,918 + 1,073 10 0 ------ ------ Over 1 to 5 years ------ 180,191 - 2 0 0 ------ ------ Over 5 to 10 years ------ 46,668 - 2 0 0 ------ ------ Over 10 years ------ 79,982 - 3 0 0 ------ ------ All 65 651,603 + 200 10 0 32,500 21,211 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 June 11, 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 11,040 495 4,707 380 477 808 863 982 331 224 303 507 963 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 926 44 37 61 38 117 99 116 53 36 64 150 111 Securities, repurchase agreements, and loans 684,177 31,504 311,281 20,373 30,533 50,111 44,025 65,859 20,518 14,562 17,516 25,539 52,355 Securities held outright 651,613 31,503 278,781 20,372 30,533 50,111 44,020 65,846 20,501 14,545 17,512 25,536 52,353 U.S. Treasury (1) 651,603 31,502 278,777 20,372 30,533 50,110 44,020 65,845 20,500 14,545 17,511 25,536 52,353 Bills (2) 238,430 11,527 102,008 7,454 11,172 18,336 16,107 24,093 7,501 5,322 6,408 9,344 19,156 Notes and bonds(3) 413,173 19,975 176,768 12,917 19,360 31,774 27,912 41,751 12,999 9,223 11,104 16,192 33,196 Federal agency (2) 10 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements(4) 32,500 0 32,500 0 0 0 0 0 0 0 0 0 0 Loans 65 2 0 0 0 0 5 14 17 18 5 3 2 Items in process of collection 8,292 465 620 386 335 646 783 699 467 382 604 240 2,665 Bank premises 1,579 91 185 52 152 143 278 117 43 126 51 164 176 Other assets(5) 37,010 1,712 13,269 1,025 2,321 5,912 2,151 3,439 954 1,115 885 1,049 3,176 Interdistrict settlement account 0 - 2,807 +12,169 - 3,097 - 2,466 - 1,391 - 2,118 - 6,459 - 1,151 - 450 + 77 + 3,341 + 4,352 Total Assets 745,224 31,619 343,143 19,263 31,494 56,494 46,248 64,965 21,286 16,026 19,566 31,088 64,033 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 June 11, 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 762,447 31,916 332,783 24,213 30,989 55,252 60,510 63,581 22,722 15,314 21,278 34,885 69,005 Less: notes held by F.R. Banks 103,061 4,351 23,479 7,431 4,033 7,947 19,574 6,998 3,608 1,490 4,041 6,522 13,587 Federal Reserve notes, net 659,386 27,565 309,304 16,782 26,956 47,305 40,935 56,583 19,114 13,824 17,236 28,364 55,418 Reverse repurchase agreements (1) 21,211 1,025 9,075 663 994 1,631 1,433 2,143 667 473 570 831 1,704 Deposits 35,693 1,419 19,175 664 1,561 2,430 1,765 3,323 659 558 825 959 2,355 Depository institutions 29,349 1,417 12,930 663 1,558 2,354 1,763 3,319 656 556 824 958 2,352 U.S. Treasury, general account 6,031 0 6,031 0 0 0 0 0 0 0 0 0 0 Foreign official 80 2 56 1 3 7 2 3 1 1 1 1 3 Other 233 0 157 0 1 69 0 0 2 0 1 0 0 Deferred availability cash items 8,816 559 874 540 429 639 944 835 275 373 443 428 2,476 Other liabilities and accrued dividends (2) 2,355 135 729 96 130 271 182 233 101 93 89 110 187 Total liabilities 727,460 30,704 339,156 18,746 30,071 52,276 45,259 63,117 20,817 15,321 19,163 30,692 62,140 Capital Capital paid in 8,656 446 1,893 251 693 2,081 477 903 228 347 191 190 956 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 728 33 285 33 28 64 36 87 43 18 11 20 69 Total liabilities and capital 745,224 31,619 343,143 19,263 31,494 56,494 46,248 64,965 21,286 16,026 19,566 31,088 64,033 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 Jun 11, 2003 Federal Reserve notes outstanding 762,447 Less: Notes held by F.R. Banks not subject to collateralization 98,811 Federal Reserve Notes to be collateralized 663,636 Collateral held against Federal Reserve notes 663,636 Gold certificate account 11,040 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 650,396 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities (1) 684,113 Less:face value of securities under reverse repurchase agreements 21,222 U.S. Treasury and agency securities eligible to be pledged 662,891 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.