Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 703,676 + 11,023 + 69,903 708,472

Securities held outright 629,410 + 2,931 + 73,535 629,412

U.S. Treasury1 629,400 + 2,931 + 73,535 629,402

Bills2 226,682 + 2,925 + 40,429 226,682

Notes and bonds, nominal2 389,219 0 + 30,765 389,219

Notes and bonds, inflation-indexed2 12,242 0 + 2,056 12,242

Inflation compensation3 1,256 + 6 + 284 1,258

Federal agency2 10 0 0 10

Repurchase agreements4 34,321 + 6,142 - 7,422 37,250

Loans to depository institutions 59 + 4 - 13 59

Adjustment credit 13 + 7 - 23 9

Seasonal credit 46 - 3 + 10 50

Extended credit 0 0 0 0

Float 1,177 + 1,238 + 1,008 2,793

Other Federal Reserve assets 38,708 + 705 + 2,793 38,958

Gold stock 11,043 0 - 2 11,043

Special drawing rights certificate account 2,200 0 0 2,200

Treasury currency outstanding5 34,483 + 14 + 1,476 34,483

Total factors supplying reserve funds 751,401 + 11,036 + 71,376 756,197

Currency in circulation5 681,441 + 6,025 + 42,945 685,007

Reverse repurchase agreements6 20,908 + 2,706 + 20,908 20,396

Foreign official and international accounts 20,908 + 2,706 + 20,908 20,396

Dealers 0 0 0 0

Treasury cash holdings 360 - 10 - 65 360

Deposits with F.R. Banks, other than reserve balances 16,186 - 1,031 + 2,018 16,184

U.S. Treasury, general account 4,678 - 1,281 + 33 4,662

Foreign official 114 - 34 - 230 139

Service-related 11,181 + 281 + 2,209 11,181

Required clearing balances 10,452 + 2 + 1,870 10,452

Adjustments to compensate for float 729 + 279 + 339 729

Other 212 + 2 + 5 203

Other liabilities and capital 20,441 + 238 + 2,685 20,670

Total factors, other than reserve balances,

absorbing reserve funds 739,334 + 7,925 + 68,489 742,617

Reserve balances with Federal Reserve Banks 12,067 + 3,111 + 2,887 13,580

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 848,867 + 2,568 . . . 848,468

U.S. Treasury 685,997 + 704 . . . 685,042

Federal agency 162,870 + 1,865 . . . 163,426

Securities lent to dealers 304 + 153 - 4,151 111

FEDERAL RESERVE statistical release

 December 26, 2002

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

Averages of daily figures

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 effects 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.

Change from week ended Wednesday

 Dec 25, 2002 Week ended

 Dec 25, 2002 Dec 18, 2002 Dec 26, 2001
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 effects 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. 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.

Assets

Gold certificate account 11,039 0 - 6

Special drawing rights certificate account 2,200 0 0

Coin 1,011 - 24 - 55

Securities, repurchase agreements, and loans 666,721 + 7,269 + 60,420

Securities held outright 629,412 + 5 + 73,405

U.S. Treasury1 629,402 + 5 + 73,405

Bills2 226,682 0 + 40,293

Notes and bonds, nominal2 389,219 0 + 30,765

Notes and bonds, inflation-indexed2 12,242 0 + 2,056

Inflation compensation3 1,258 + 5 + 291

Federal agency2 10 0 0

Repurchase agreements4 37,250 + 7,250 - 13,000

Loans 59 + 14 + 14

Items in process of collection (1,076) 13,239 + 4,439 + 8,017

Bank premises 1,540 + 6 + 21

Other assets5 37,357 + 817 + 1,764

Total assets (1,076) 733,107 + 12,506 + 70,162

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 651,891 + 6,292 + 41,390

Reverse repurchase agreements6 20,396 - 1,509 + 20,396

Deposits ( 0 ) 29,704 + 4,781 - 1,380

Depository institutions 24,701 + 6,758 - 1,070

U.S. Treasury, general account 4,662 - 1,933 - 194

Foreign official 139 - 33 - 94

Other ( 0 ) 203 - 10 - 20

Deferred availability cash items (1,076) 10,447 + 2,181 + 6,515

Other liabilities and accrued dividends7 2,461 + 43 - 133

Total liabilities (1,076) 714,898 + 11,787 + 66,787

Capital accounts

Capital paid in 8,382 + 6 + 1,025

Surplus 7,312 0 + 600

Other capital accounts 2,516 + 714 + 1,751

Total capital 18,209 + 720 + 3,374

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Dec 26, 2001

Eliminations from

consolidation Wednesday

 Dec 25, 2002

Wednesday

 Dec 18, 2002

3. Maturity Distribution of Loans and Securities, December 25, 2002

Millions of dollars

 Federal agency

securities

Weekly

changes Holdings

 U.S. Treasury

securities1

Holdings Weekly

changes

Loans Repurchase

agreements2

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 effects of inflation on the original

face value of such securities.

2. Cash value of agreements classified by remaining maturity of the agreements.

Reverse

repurchase

agreements2

Within 15 days 57 33,670 - 13,583 0 0 21,250 20,396

16 days to 90 days 2 146,846 + 12,584 0 0 16,000 0

91 days to 1 year 0 141,815 + 999 10 0 . . . . . . 

Over 1 year to 5 years . . . 173,936 + 1 0 0 . . . . . . 

Over 5 years to 10 years . . . 53,298 + 3 0 0 . . . . . . 

Over 10 years . . . 79,838 + 2 0 0 . . . . . . 

All 59 629,402 + 5 10 0 37,250 20,396

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on December 25, 2002Millions of dollars

Total Boston Cleveland Richmond Atlanta Chicago St. Louis New York Philadelphia Minneap

AssetsGold certificate accountSpecial drawing rights certificate acct.CoinSecurities, repurchase agreements,

and loans

Securities held outright

U.S. Treasury1

Bills2Notes and bonds3

Federal agency2

Repurchase agreements4Loans

Items in process of collectionBank premisesOther assets5Interdistrict settlement account

Total assets

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 effects of inflation on the original face value of such se

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.

 11,039 2,200 1,011 666,721 629,412 629,402 226,682 402,720 10 37,250 59 14,316 1,540 37,357 0 734,183

Assets, liabilities, and capital

 4,364 874 34 284,899 247,649 247,645 89,191 158,455 4 37,250 0 1,600 186 13,128 +24,425 329,510

 533 115 48 36,062 36,062 36,061 12,988 23,074 1 0 0 889 91 1,935 - 5,893 33,780

 430 83 62 24,203 24,203 24,202 8,717 15,486 0 0 0 681 49 1,253 - 5,434 21,328

 522 104 45 34,728 34,728 34,727 12,507 22,220 1 0 0 943 153 2,504 - 5,290 33,709

 819 147 144 49,090 49,090 49,089 17,680 31,409 1 0 0 1,031 130 5,524 - 1,535 55,350

 926 166 107 44,827 44,817 44,816 16,141 28,675 1 0 11 1,374 279 2,491 - 3,152 47,019

 1,080 212 127 74,079 74,069 74,068 26,676 47,392 1 0 10 1,328 116 3,800 -13,699 67,044

 346 71 60 22,395 22,381 22,380 8,060 14,320 0 0 15 895 44 980 - 3,378 21,414

 1   9,8 9,8 9,8 3,5 6,2    7 1 6 + 4,0 15,7
 651,891

 651,891 11,039 2,200 638,652 0 666,662 20,403 646,259

Total Boston Cleveland Richmond Atlanta Chicago St. Louis New York Philadelphia Minneap

LiabilitiesFederal Reserve notes outstanding

Less: notes held by F.R. Banks

Federal Reserve notes, net

Reverse repurchase agreements1

Deposits

Depository institutionsU.S. Treasury, general accountForeign officialOther

Deferred availability cash itemsOther liabilities and accrued

dividends2

Total liabilities

CapitalCapital paid inSurplusOther capital

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.

 760,778 108,887 651,891 20,396 29,704 24,701 4,662 139 203 11,523 2,461 715,974 8,382 7,312 2,516 734,183

 33,229 4,271 28,958 1,169 1,625 1,622 0 2 2 940 147 32,838 436 418 87 33,780

 330,493 25,843 304,650 8,025 10,717 5,799 4,662 115 142 1,139 745 325,276 1,809 1,504 921 329,510

 25,532 7,030 18,502 784 732 730 0 1 1 686 105 20,809 233 221 65 21,328

 32,818 4,479 28,339 1,125 1,832 1,828 0 3 1 783 143 32,223 702 665 119 33,709

 54,699 9,465 45,234 1,591 2,926 2,871 0 7 49 1,007 287 51,044 2,073 1,757 475 55,350

 58,419 17,063 41,357 1,452 1,930 1,927 0 2 1 984 196 45,918 475 535 90 47,019

 64,747 7,896 56,851 2,400 4,700 4,696 0 3 1 982 258 65,192 858 793 201 67,044

 22,136 3,261 18,875 725 888 887 0 1 0 385 105 20,978 199 149 87 21,414

 15,1 1,8 13,2 3 7 7    6  15,0 3 1 2 15,7

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on December 25, 2002 (continued)Millions of dollars

Assets, liabilities, and capital

Federal Reserve notes, net of F.R. Bank holdingsCollateral held against Federal Reserve notes

Gold certificate accountSpecial drawing rights certificate accountU.S. Treasury and agency securities pledged1Other eligible assets

Memo:Total U.S. Treasury and agency securities1

Less: face value of securities under

reverse repurchase agreements

U.S. Treasury and agency securities

eligible to be pledged

5. Collateral Held against Federal Reserve Notes:Federal Reserve Agents' AccountsMillions of dollarsFederal Reserve notes and collateral Wednesday

 Dec 25, 2002

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 effects of inflation on the original face valueof inflation-indexed securities, and cash value of repurchase agreements.