For Release at 4:30 P.M.

Eastern time December 5, 2002

The H.4.1 Statistical Release (“Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks”) for November 29, 2002 contained an error on page 4. In the section titled “Federal Reserve Agents’ Accounts,” the total amount of collateral pledged against Federal Reserve notes, as well as amounts provided by U.S. government and federal agency securities and other eligible assets, were incorrect and erroneously indicated insufficient collateral. In fact, an adequate volume of securities was available as collateral against Federal Reserve notes. All other data items on the original release were correct. A corrected version of the November 29 release is posted on this website.

FEDERAL RESERVE
These data are scheduled for release each Thursday.

H.4.1

December 5, 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 Nov 27, 2002 Dec 5, 2001 + + 3,602 351 0 0 0 2,821 0 1 0 0 255 175 0 0 14 3,616 4,602 0 7 352 2 60 48 88 4,441 826 + + 49,896 59,146 0 0 0 8,714 0 6 20 0 1,389 840 3 0 1,468 51,361 49,207 0 58 836 267 2,160 17 1,523 51,712 351

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 4, 2002 672,629 609,586 0 10 0 25,857 0 2 54 0 274 36,846 11,042 2,200 34,441 720,312 674,514 0 377 4,664 127 10,685 228 19,571 710,166 10,146

Wednesday Dec 4, 2002 666,894 610,876 0 10 0 18,000 0 2 49 0 1,090 36,866 11,043 2,200 34,441 714,578 675,369 0 377 3,504 153 10,685 207 19,452 709,748 4,830

+

-

-

+ + + + + + + + -

+ +

+ + + + + + + + -

On December 4, 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 $ 833,276 million, a change of $ + 1,987 million for the week. The total includes $ 681,438 million of U.S. government securities and $ 151,837 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 $ 19,238 million (daily average over statement week) and $ 18,510 million (outstanding on Wednesday statement date) matched sale-purchase transactions, of which $ 19,238 million (daily average) and $ 18,510 million (outstanding on Wednesday statement date) were with foreign official and international accounts. Includes securities loans of $ 574 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 $ 1,242 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 $ 10,281 million and adjustments of $ 404 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 4, 2002 11,039 2,200 1,028 52 0 18,000 10 0 208,172 297,881 104,823 610,876 0 610,876 628,938 9,589 1,530 35,322 689,645 + + + + + + Wednesday Nov 27, 2002 + 1 0 21 8 0 11,000 0 0 604 542 116 1,262 0 1,262 9,746 1,471 0 0 8,296 + + + + + + + + + Wednesday Dec 5, 2001 + 6 0 21 13 0 10,000 0 0 22,355 34,030 1,733 58,118 0 58,118 48,131 1,188 10 614 47,540

(1,098)

(1,098)

-

642,328 0 15,670 3,504 153 207 19,535 8,329 2,425 672,618

+

1,042 0 8,302 1,578 71 23 9,928 572 2 8,315

+

47,134 0 817 1,284 67 36 435 896 256 45,548

(38) (38) (1,059) (1,098)

+ + -

+ + +

8,353 7,312 1,362

+ +

4 0 14

+ + +

996 582 413

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 $ 698 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 $ 545 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,510 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 4, 2002
Millions of dollars U.S. government securities (1,2) Weekly Holdings changes 21,260 142,625 139,936 173,934 53,290 79,831 610,876 + + + + + 4,386 7,380 2,179 129 316 2 1,262 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) 13,000 5,000 ——— ——— ——— ——— 18,000 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

30 22 0 ——— ——— ——— 52

1 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,242 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 4, 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 1,028 52 0 18,000 10 0 208,172 297,881 104,823 610,876 0 610,876 628,938 Boston 533 115 47 0 0 0 1 0 11,927 17,067 6,006 35,000 0 35,000 35,000 New York Philadelphia Cleveland Richmond 4,364 874 38 0 0 18,000 4 0 81,908 117,204 41,244 240,356 0 240,356 276,360 430 83 62 1 0 0 0 0 8,005 11,454 4,031 23,490 0 23,490 23,492 522 104 46 0 0 0 1 0 11,486 16,436 5,784 33,705 0 33,705 33,706 819 147 143 0 0 0 1 0 16,236 23,233 8,175 47,644 0 47,644 47,645 Atlanta 926 166 115 8 0 0 1 0 14,823 21,210 7,464 43,497 0 43,497 43,506 Chicago 1,080 212 129 2 0 0 1 0 24,498 35,055 12,336 71,888 0 71,888 71,891 St. Louis Minneapolis 346 71 59 13 0 0 0 0 7,402 10,592 3,727 21,721 0 21,721 21,735 179 30 36 8 0 0 0 0 3,254 4,657 1,639 9,550 0 9,550 9,558 Kansas City 309 66 69 10 0 0 0 0 6,154 8,805 3,099 18,057 0 18,057 18,068 Dallas 485 98 160 4 0 0 0 0 4,620 6,611 2,326 13,557 0 13,557 13,561 San Francisco 1,046 234 124 6 0 0 1 0 17,860 25,557 8,993 52,411 0 52,411 52,418 3,037 172 3,145 - 2,526 57,651

Items in process of collection 10,686 459 1,158 558 495 879 919 793 712 641 667 369 Bank premises 1,530 91 184 49 152 129 279 116 43 125 50 140 Other assets (6) 35,322 1,833 12,363 1,114 2,386 5,275 2,357 3,598 920 604 917 811 Interdistrict settlement account 0 - 6,712 +33,694 - 5,751 - 5,581 - 3,197 - 5,319 -14,987 - 3,690 + 3,923 - 2,783 +12,927 TOTAL ASSETS 690,742 31,367 329,035 20,036 31,830 51,839 42,948 62,833 20,196 15,095 17,361 28,550 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 $ 698 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 $ 545 million of compensation that adjusts for the effects of inflation on the principal of such securities. 5 Net of $ 18,510 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 4, 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 759,934 33,531 329,317 25,659 33,026 54,938 57,676 65,703 22,356 15,217 20,167 36,099 Less—Held by F.R. Banks 117,606 4,863 29,371 7,648 4,567 9,994 18,320 8,511 3,524 1,913 4,439 9,173 F.R. notes, net 642,328 28,668 299,947 18,011 28,459 44,943 39,356 57,192 18,832 13,305 15,728 26,926 Collateral held against F.R. notes Gold certificate account 11,039 Special drawing rights certificate account 2,200 Other eligible assets 204 U.S. govt. and agency securities (3) 628,886 Total collateral 642,328 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. 66,245 15,282 50,963 642,328 0 15,670 3,504 153 246 19,574 9,388 2,425 673,715 Boston 28,668 0 1,056 0 2 4 1,062 602 144 30,476 New York Philadelphia Cleveland Richmond 299,947 0 1,844 3,504 129 136 5,614 978 741 307,280 18,011 0 917 0 1 0 919 504 106 19,540 28,459 0 1,355 0 3 0 1,358 456 143 30,416 44,943 0 1,773 0 7 59 1,839 639 264 47,686 Atlanta 39,356 0 1,369 0 2 39 1,411 957 194 41,918 Chicago 57,192 0 2,849 0 3 1 2,853 793 257 61,095 St. Louis Minneapolis 18,832 0 553 0 1 1 554 292 105 19,783 13,305 0 403 0 1 0 404 667 81 14,457 Kansas City 15,728 0 680 0 1 1 682 449 93 16,952 Dallas 26,926 0 685 0 1 3 689 472 91 28,178 San Francisco 50,963 0 2,186 0 3 1 2,190 2,579 204 55,935

8,353 7,312 1,362 690,742

436 418 36 31,367

1,801 1,504 450 311,035

242 221 32 20,036

700 665 49 31,830

2,073 1,757 323 51,839

474 535 22 42,948

851 793 94 62,833

199 149 65 20,196

338 118 182 15,095

200 191 18 17,361

185 164 24 28,550

854 796 66 57,651