FEDERAL RESERVE

These data are scheduled for release each Thursday.

H.4.1

December 12, 2002

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks
Millions of dollars Averages of daily figures Change from week ended Dec 4, 2002 Dec 12, 2001 + 1,875 319 0 0 0 3,857 0 162 8 0 1,206 303 1 0 14 1,861 224 0 1 557 11 131 20 228 694 1,166 + + 51,008 58,392 0 0 0 9,500 0 121 12 0 1,095 888 2 0 1,466 52,472 47,417 0 65 901 16 1,804 32 1,914 50,121 2,351

Reserve balances of depository institutions at F.R. Banks, Reserve Bank credit, and related items Reserve Bank Credit U.S. government securities (1) Bought outright-system account (2,3) Held under repurchase agreements Federal agency obligations (1) Bought outright Held under repurchase agreements Repurchase agreements — triparty (4) Acceptances Loans to depository institutions Adjustment credit Seasonal credit Extended credit Float Other F.R. assets Gold stock Special drawing rights certificate account Treasury currency outstanding Total factors supplying reserve funds Currency in circulation* Reverse repurchase agreements — triparty (4) Treasury cash holdings* Deposits, other than reserve balances, with F.R. Banks Treasury Foreign Service-related balances and adjustments (5) Other Other F.R. liabilities and capital Total factors, other than reserve balances, absorbing reserve funds Reserve balances with F.R. Banks (6)

Week ended Dec 11, 2002 670,752 609,905 0 10 0 22,000 0 164 46 0 1,478 37,149 11,043 2,200 34,455 718,450 674,290 0 376 4,107 138 10,554 208 19,799 709,472 8,978

Wednesday Dec 11, 2002 679,725 608,947 0 10 0 30,750 0 1,076 45 0 1,504 37,393 11,043 2,200 34,455 727,423 675,500 0 372 5,506 139 10,554 201 19,786 712,058 15,365

-

-

+ + + + + + + -

+ + + + + + + + + + +

On December 11, 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 $ 839,532 million, a change of $ + 6,256 million for the week. The total includes $ 683,657 million of U.S. government securities and $ 155,874 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 $ 19,483 million (daily average over statement week) and $ 20,445 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 19,198 million (daily average) and $ 20,445 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 53 million (daily average) and $ 0 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities. 3 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,247 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 $ 10,282 million and adjustments of $ 273 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.

H.4.1(a)

Consolidated Statement of Condition of all Federal Reserve Banks
Millions of dollars Eliminations from Consolidation ASSETS Gold certificate account Special drawing rights certificate account Coin Loans Acceptances Repurchase agreements — triparty (1) Federal agency obligations (2) Bought outright Held under repurchase agreements U.S. government securities (2) Bought outright— Bills Notes (3) Bonds (4) Total bought outright (5) Held under repurchase agreements Total U.S. government securities Total loans and securities Items in process of collection Bank premises Other assets (6) TOTAL ASSETS LIABILITIES Federal Reserve notes Reverse repurchase agreements — triparty (1) Deposits Depository institutions U.S. Treasury—general account Foreign—official accounts Other Total deposits Deferred availability cash items Other liabilities and accrued dividends (7) TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts Change Since Wednesday Dec 11, 2002 11,039 2,200 1,032 1,121 0 30,750 10 0 206,238 297,884 104,825 608,947 0 608,947 640,828 10,116 1,532 35,879 702,625 + + + + + + + Wednesday Dec 4, 2002 0 0 4 1,069 0 12,750 0 0 1,934 3 2 1,929 0 1,929 11,890 527 2 557 12,980 + + + + + + + + + + Wednesday Dec 12, 2001 + 6 0 38 1,003 0 11,750 0 0 19,647 34,038 1,738 55,423 0 55,423 44,676 47 14 943 45,636

+ + +

(1,312)

(1,312)

642,444 0 26,025 5,506 139 201 31,871 8,523 2,451 685,290

+

116 0 10,355 2,002 14 6 12,336 194 26 12,672

+

44,263 0 1,706 914 155 15 963 313 213 43,401

(0) (0) (1,312) (1,312)

+ + + + + +

+ + +

8,359 7,312 1,664

+ +

6 0 302

+ + +

994 584 657

1 Cash value of agreements arranged through third-party custodial banks. 2 Face value of the securities. 3 Includes $ 7,168 million of inflation-indexed securities valued at the original face amount and $ 700 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,074 million of inflation-indexed securities valued at the original face amount and $ 547 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 20,445 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 0 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.

Maturity Distribution of Loans and Securities, December 11, 2002
Millions of dollars U.S. government securities (1,2) Weekly Holdings changes 19,955 141,835 140,097 173,935 53,293 79,833 608,947 + + + + 1,305 790 161 1 3 2 1,929 Federal agency obligations(2) Weekly Holdings changes 0 0 0 10 0 0 10 0 0 0 0 0 0 0 Reverse Repurchase Repurchase Agreements— Agreements— Triparty (3) Triparty (3) 25,750 5,000 ——— ——— ——— ——— 30,750 0 0 ——— ——— ——— ——— 0

Loans

Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total

1,089 32 0 ——— ——— ——— 1,121

1 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,247 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 December 11, 2002
Millions of dollars Total ASSETS Gold certificate account Special drawing rights certif. acct. Coin Loans Acceptances Repurchase agreements — triparty (1) Federal agency obligations (2) Bought outright Held under repurchase agreements U.S. government securities (2) Bought outright— Bills Notes (3) Bonds (4) Total bought outright (5) Held under repurchase agreements Total U.S. govt. securities Total loans and securities 11,039 2,200 1,032 1,121 0 30,750 10 0 206,238 297,884 104,825 608,947 0 608,947 640,828 Boston 533 115 47 280 0 0 1 0 11,816 17,067 6,006 34,889 0 34,889 35,170 New York Philadelphia Cleveland Richmond 4,364 874 36 625 0 30,750 4 0 81,146 117,206 41,245 239,597 0 239,597 270,976 430 83 62 0 0 0 0 0 7,930 11,454 4,031 23,416 0 23,416 23,416 522 104 47 0 0 0 1 0 11,379 16,436 5,784 33,599 0 33,599 33,599 819 147 144 0 0 0 1 0 16,085 23,233 8,176 47,493 0 47,493 47,494 Atlanta 926 166 114 177 0 0 1 0 14,685 21,211 7,464 43,359 0 43,359 43,537 Chicago 1,080 212 132 0 0 0 1 0 24,270 35,055 12,336 71,661 0 71,661 71,663 St. Louis Minneapolis 346 71 60 14 0 0 0 0 7,333 10,592 3,727 21,653 0 21,653 21,667 179 30 36 12 0 0 0 0 3,224 4,657 1,639 9,519 0 9,519 9,531 Kansas City 309 66 70 10 0 0 0 0 6,096 8,805 3,099 18,000 0 18,000 18,011 Dallas 485 98 163 3 0 0 0 0 4,577 6,611 2,326 13,515 0 13,515 13,518 San Francisco 1,046 234 120 0 0 0 1 0 17,694 25,557 8,994 52,245 0 52,245 52,246 3,147 172 3,197 - 2,421 57,743

Items in process of collection 11,427 580 899 810 681 909 1,257 727 396 685 679 658 Bank premises 1,532 91 184 49 152 129 279 116 43 126 50 140 Other assets (6) 35,879 1,866 12,557 1,136 2,425 5,345 2,397 3,682 938 616 934 786 Interdistrict settlement account 0 - 6,362 +31,444 - 6,255 - 5,292 - 1,762 - 5,496 -15,185 - 3,250 + 3,791 - 2,370 +13,157 TOTAL ASSETS 703,937 32,039 321,334 19,731 32,239 53,225 43,180 62,427 20,271 14,994 17,749 29,004 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 $ 7,168 million of inflation-indexed securities valued at the original face amount and $ 700 million of compensation that adjusts for the effects of inflation on the principal of such securities. 4 Includes $ 5,074 million of inflation-indexed securities valued at the original face amount and $ 547 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 20,445 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 0 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 December 11, 2002
Millions of dollars Total LIABILITIES Federal Reserve notes Reverse repurchase agreements—triparty (1) Deposits Depository institutions U.S. Treasury—general account Foreign—official accounts Other Total deposits Deferred credit items Other liabilities and accrued dividends (2) TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS FEDERAL RESERVE AGENTS’ ACCOUNTS F.R. notes outstanding 762,428 33,531 330,776 25,568 32,992 54,889 58,289 65,606 22,316 15,184 20,169 36,457 Less—Held by F.R. Banks 119,984 4,835 29,442 7,680 4,596 10,359 18,732 8,947 3,593 2,077 4,385 9,195 F.R. notes, net 642,444 28,696 301,333 17,888 28,396 44,530 39,556 56,660 18,723 13,107 15,784 27,262 Collateral held against F.R. notes Gold certificate account 11,039 Special drawing rights certificate account 2,200 Other eligible assets 0 U.S. govt. and agency securities (3) 629,205 Total collateral 642,444 1 Cash value of agreements arranged through third-party custodial banks. These agreements are collateralized by U.S. government and 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. 66,650 16,143 50,507 642,444 0 26,025 5,506 139 201 31,871 9,835 2,451 686,602 Boston 28,696 0 1,590 0 2 4 1,596 697 146 31,135 New York Philadelphia Cleveland Richmond 301,333 0 8,723 5,506 115 134 14,478 961 746 317,518 17,888 0 532 0 1 0 534 695 108 19,225 28,396 0 1,628 0 3 1 1,632 624 144 30,797 44,530 0 3,424 0 7 56 3,486 725 267 49,009 Atlanta 39,556 0 1,510 0 2 1 1,513 864 198 42,131 Chicago 56,660 0 3,002 0 3 0 3,006 734 258 60,657 St. Louis Minneapolis 18,723 0 755 0 1 1 756 270 106 19,854 13,107 0 569 0 1 0 570 585 85 14,346 Kansas City 15,784 0 1,076 0 1 1 1,078 374 96 17,333 Dallas 27,262 0 743 0 1 3 747 520 93 28,621 San Francisco 50,507 0 2,473 0 3 1 2,477 2,787 204 55,975

8,359 7,312 1,664 703,937

436 418 49 32,039

1,801 1,504 511 321,334

242 221 43 19,731

702 665 75 32,239

2,073 1,757 386 53,225

475 535 39 43,180

851 793 125 62,427

199 149 68 20,271

340 118 191 14,994

201 191 24 17,749

186 164 33 29,004

854 796 118 57,743