For Release at 4:30 P.M.

Eastern time January 16, 2003

The H .4.1 Statistical R elease (“Fa ctors Affecting Reserve B alances of D epository Institutions and Condition Statement of Federal Reserve Banks”) has been reformatted to show the new type s of discount w indow cred it extended by the Fed eral Reserve Banks. (For more information on the new credit programs, see http://www.federalreserve.gov/board docs/press/bcreg/2002/200210312/defau lt.htm). The Fed eral Reserve Banks beg an offering prima ry credit and secondary credit on Jan uary 9, 2003. The adjustment credit and extended credit programs were discontinued. The seasonal credit facility continues unchanged. Table 1 of the release now shows amounts for each of the three types of credit currently available (primary, secondary, and seasonal credit). T he tabl e still show s amo unts for a djustm ent cred it, even th ough th is catego ry is no longer offered, to provide a complete disaggregation of changes in total borrowing from the corresponding week one year ago.

FEDERAL RESERVE statistical release
H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks 1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks Reserve Bank credit Securities held outright U.S. Treasury1 Bills2 Notes and bonds, nominal2 Notes and bonds, inflation-indexed2 Inflation compensation3 Federal agency2 Repurchase agreements4 Loans to depository institutions Primary credit Secondary credit Seasonal credit Adjustment credit Float Other Federal Reserve assets Gold stock Special drawing rights certificate account Treasury currency outstanding5 Total factors supplying reserve funds Currency in circulation5 Reverse repurchase agreements6 Foreign official and international accounts Dealers Treasury cash holdings Deposits with F.R. Banks, other than reserve balances U.S. Treasury, general account Foreign official Service-related Required clearing balances Adjustments to compensate for float Other Other liabilities and capital Total factors, other than reserve balances, absorbing reserve funds Reserve balances with Federal Reserve Banks Week ended Jan 15, 2003 693,039 629,416 629,406 226,682 389,219 12,242 1,263 10 24,428 16 6 0 11 0 -250 39,428 11,043 2,200 34,525 740,806 676,353 18,152 18,152 0 369 16,755 5,244 173 11,127 10,537 590 210 19,738 Averages of daily figures Change from week ended Jan 8, 2003 Jan 16, 2002 4,416 0 0 0 0 0 0 0 3,965 11 6 0 6 10 970 529 0 0 14 4,403 6,783 381 381 0 1 722 415 66 241 2 239 1 521 + + + + + + + + + + + + + + + + + + + + 63,937 70,943 70,943 39,777 28,800 2,056 310 0 8,543 2 6 0 1 8 167 1,705 2 0 1,327 65,261 43,634 18,152 18,152 0 63 1,648 468 98 2,235 2,134 101 22 2,045

January 16, 2003

Wednesday Jan 15, 2003 698,326 629,416 629,406 226,682 389,219 12,242 1,263 10 30,000 15 5 0 10 0 -466 39,361 11,043 2,200 34,525 746,094 676,004 17,813 17,813 0 369 16,785 5,192 253 11,127 10,537 590 213 19,631

+ +

+ + + + + + + +

731,367 9,439

+

5,923 1,520

+ -

65,416 155

730,601 15,492

Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 859,013 U.S. Treasury 694,097 Federal agency 164,916 Securities lent to dealers 579 Note: Components may not sum to totals because of rounding. . . . Not available. 1. 2. 3. 4. 5. 6. 7.

+ -

2,072 80 2,152 381

-

... ... ... 2,045

859,411 692,999 166,412 922

Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury securities. Face value of the securities. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Estimated. Cash value of agreements, which are collateralized by U.S. Treasury securities. 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.

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars Assets, liabilities, and capital Assets Gold certificate account Special drawing rights certificate account Coin Securities, repurchase agreements, and loans Securities held outright U.S. Treasury1 Bills2 Notes and bonds, nominal2 Notes and bonds, inflation-indexed2 Inflation compensation3 Federal agency2 Repurchase agreements4 Loans Items in process of collection Bank premises Other assets5 Total assets Liabilities Federal Reserve notes, net of F.R. Bank holdings Reverse repurchase agreements6 Deposits Depository institutions U.S. Treasury, general account Foreign official Other Deferred availability cash items Other liabilities and accrued dividends7 Total liabilities Eliminations from consolidation Change since Wednesday Jan 15, 2003 11,039 2,200 1,043 659,431 629,416 629,406 226,682 389,219 12,242 1,263 10 30,000 15 8,155 1,542 37,688 721,098 Wednesday Jan 8, 2003 0 0 47 3,753 0 0 0 0 0 0 0 3,750 3 198 1 205 3,698 Wednesday Jan 16, 2002 + + + + + + + + + + + 6 0 51 68,777 69,676 69,676 38,923 28,384 2,056 312 0 900 1 502 30 1,565 69,813

+ -

(1,251)

(1,251)

+ + -

(0)

(0) (1,251) (1,251)

642,887 17,813 32,648 26,991 5,192 253 213 8,119 2,235 703,702

+ + + + -

4,183 896 1,513 1,795 298 154 137 380 13 3,933

+ + + + + +

42,359 17,813 7,733 9,122 1,527 165 25 259 118 67,528

Capital accounts Capital paid in Surplus Other capital accounts Total capital Note: Components may not sum to totals because of rounding. 1. 2. 3. 4. 5. 6. 7.

8,389 8,478 528 17,395

+ + + +

3 130 102 234

+ + + +

970 1,201 114 2,284

Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury securities. Face value of the securities. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Includes assets denominated in foreign currencies, which are revalued daily at market exchange rates. Cash value of agreements, which are collateralized by U.S. Treasury securities. Includes exchange-translation account reflecting the daily revaluation at market exchange rates of foreign exchange commitments.

3. Maturity Distribution of Loans and Securities, January 15, 2003
Millions of dollars U.S. Treasury securities1 Weekly Holdings changes 6 9 0 ... ... ... 43,631 136,918 142,959 174,818 51,240 79,840 + + + 1,192 1,595 402 2,060 2,060 0 0 Federal agency securities Weekly Holdings changes 0 0 10 0 0 0 10 0 0 0 0 0 0 0 Repurchase agreements2 27,000 3,000 ... ... ... ... 30,000 Reverse repurchase agreements 2 17,813 0 ... ... ... ... 17,813 Maturity

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

All 15 629,406 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.

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on January 15, 2003
Millions of dollars Assets, liabilities, and capital Assets Gold certificate account Special drawing rights certificate acct. Coin Securities, repurchase agreements, and loans Securities held outright U.S. Treasury1 Bills2 Notes and bonds3 Federal agency2 Repurchase agreements4 Loans Items in process of collection Bank premises Other assets5 Interdistrict settlement account Total 11,039 2,200 1,043 659,431 629,416 629,406 226,682 402,724 10 30,000 15 9,406 1,542 37,688 0 Boston 533 115 47 36,062 36,062 36,062 12,988 23,074 1 0 0 487 92 1,975 - 7,497 New York Philadelphia Cleveland Richmond 4,364 874 37 277,651 247,651 247,647 89,191 158,456 4 30,000 1 678 185 13,001 +34,354 331,144 430 83 60 24,203 24,203 24,202 8,717 15,486 0 0 0 435 50 1,239 - 5,303 21,196 522 104 46 34,728 34,728 34,727 12,507 22,220 1 0 0 387 152 2,565 - 6,378 32,125 819 147 155 49,090 49,090 49,089 17,680 31,410 1 0 0 636 129 5,662 - 2,092 54,546 Atlanta 926 166 108 44,817 44,817 44,816 16,141 28,676 1 0 0 727 279 2,540 - 4,873 44,691 Chicago 1,080 212 141 74,076 74,070 74,069 26,676 47,393 1 0 7 859 116 3,883 -15,372 64,995 St. Louis Minneapolis 346 71 64 22,382 22,381 22,380 8,060 14,320 0 0 1 535 44 990 - 4,080 20,353 179 30 37 9,842 9,839 9,839 3,544 6,296 0 0 2 764 127 646 + 3,684 15,308 Kansas City 309 66 70 18,606 18,606 18,605 6,701 11,904 0 0 0 719 50 981 - 2,449 18,351 Dallas 485 98 168 13,969 13,969 13,969 5,031 8,938 0 0 0 419 141 826 +13,559 29,664 San Francisco 1,046 234 111 54,005 54,001 54,001 19,448 34,552 1 0 4 2,760 176 3,380 - 3,552 58,160

31,814 722,349 Total assets Note: Components may not sum to totals because of rounding. 1. 2. 3. 4. 5.

Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury securities. Face value of the securities. 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. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Includes assets denominated in foreign currencies, which are revalued daily at market exchange rates.

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on January 15, 2003 (continued)
Millions of dollars Assets, liabilities, and capital Liabilities Federal Reserve notes outstanding Less: notes held by F.R. Banks Federal Reserve notes, net Reverse repurchase agreements1 Deposits Depository institutions U.S. Treasury, general account Foreign official Other Deferred availability cash items Other liabilities and accrued dividends2 Total liabilities Capital Capital paid in Surplus Other capital Total 758,031 115,143 642,887 17,813 32,648 26,991 5,192 253 213 9,370 2,235 704,953 Boston 32,894 4,826 28,068 1,021 1,059 1,056 0 2 1 624 139 30,911 New York Philadelphia Cleveland Richmond 330,237 25,355 304,883 7,009 13,741 8,183 5,192 229 138 1,006 678 327,317 25,383 7,976 17,408 685 1,931 1,930 0 1 0 584 100 20,707 32,432 4,899 27,533 983 1,537 1,532 0 3 3 494 121 30,668 54,209 9,684 44,525 1,389 3,552 3,479 0 7 66 596 239 50,301 Atlanta 58,467 18,627 39,840 1,268 1,517 1,514 0 2 1 891 180 43,697 Chicago 63,710 8,333 55,377 2,096 4,726 4,722 0 3 0 779 233 63,210 St. Louis Minneapolis 21,858 3,556 18,301 633 506 504 0 1 1 394 100 19,934 15,020 1,895 13,125 278 457 456 0 1 0 683 76 14,620 Kansas City 20,319 4,318 16,001 527 876 874 0 1 1 441 93 17,938 Dallas 36,590 9,096 27,494 395 849 847 0 1 1 456 88 29,283 San Francisco 66,912 16,579 50,333 1,528 1,898 1,894 0 3 1 2,421 187 56,368

8,389 8,478 528

436 436 31

1,809 1,809 210 331,144

234 233 22 21,196

707 702 48 32,125

2,073 2,171 0 54,546

475 475 44 44,691

859 858 69 64,995

200 199 19 20,353

340 340 9 15,308

201 201 12 18,351

186 186 9 29,664

868 868 56 58,160

722,349 31,814 Total liabilities and capital 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 Federal Reserve notes, net of F.R. Bank holdings Collateral held against Federal Reserve notes Gold certificate account Special drawing rights certificate account U.S. Treasury and agency securities pledged1 Other eligible assets Wednesday Jan 15, 2003 642,887 642,887 11,039 2,200 629,649 0

Memo: 659,416 Total U.S. Treasury and agency securities1 Less: face value of securities under 17,818 reverse repurchase agreements U.S. Treasury and agency securities 641,598 eligible to be pledged 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.