Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 716,921 - 3,554 + 65,615 708,888

Securities held outright 651,202 + 350 + 63,789 651,413

U.S. Treasury1 651,192 + 350 + 63,789 651,403

Bills2 238,010 + 338 + 44,025 238,223

Notes and bonds, nominal2 398,853 0 + 18,183 398,853

Notes and bonds, inflation-indexed2 12,814 0 + 1,212 12,814

Inflation compensation3 1,514 + 12 + 368 1,512

Federal agency2 10 0 0 10

Repurchase agreements4 27,813 - 4,044 + 884 19,000

Loans to depository institutions 76 + 17 - 44 65

Primary credit 12 + 10 + 12 7

Secondary credit 0 0 0 0

Seasonal credit 64 + 7 - 56 58

Adjustment credit 0 0 0 0

Float -317 + 92 - 272 332

Other Federal Reserve assets 38,147 + 31 + 1,257 38,078

Gold stock 11,044 + 1 0 11,044

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

Treasury currency outstanding5 34,892 + 14 + 1,021 34,892

Total factors supplying reserve funds 765,057 - 3,539 + 66,636 757,025

Currency in circulation5 692,854 - 677 + 38,413 693,680

Reverse repurchase agreements6 21,987 + 389 + 21,987 21,673

Foreign official and international accounts 21,808 + 210 + 21,808 20,423

Dealers 179 + 179 + 179 1,250

Treasury cash holdings 376 + 17 - 39 385

Deposits with F.R. Banks, other than reserve balances 17,843 + 793 + 2,380 17,449

U.S. Treasury, general account 6,487 + 944 + 1,149 6,126

Foreign official 123 - 37 + 23 77

Service-related 11,004 - 101 + 1,205 11,004

Required clearing balances 10,833 + 13 + 1,024 10,833

Adjustments to compensate for float 170 - 115 + 180 170

Other 229 - 13 + 3 243

Other liabilities and capital 19,990 - 291 + 411 19,836

Total factors, other than reserve balances,

absorbing reserve funds 753,050 + 230 + 63,152 753,023

Reserve balances with Federal Reserve Banks 12,007 - 3,770 + 3,484 4,002

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 933,369 + 5,622 . . . 935,950

U.S. Treasury 743,519 + 2,580 . . . 747,892

Federal agency 189,850 + 3,042 . . . 188,059

Securities lent to dealers 814 - 104 + 563 656

FEDERAL RESERVE statistical release

 June 5, 2003

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 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.

Change from week ended Wednesday

 Jun 4, 2003 Week ended

 Jun 4, 2003 May 28, 2003 Jun 5, 2002
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 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 11,040 + 1 - 4

Special drawing rights certificate account 2,200 0 0

Coin 909 - 11 - 20

Securities, repurchase agreements, and loans 670,477 - 12,454 + 59,246

Securities held outright 651,413 + 544 + 63,040

U.S. Treasury1 651,403 + 544 + 63,040

Bills2 238,223 + 540 + 43,851

Notes and bonds, nominal2 398,853 0 + 17,619

Notes and bonds, inflation-indexed2 12,814 0 + 1,212

Inflation compensation3 1,512 + 4 + 358

Federal agency2 10 0 0

Repurchase agreements4 19,000 - 13,000 - 3,750

Loans 65 + 3 - 44

Items in process of collection (1,086) 9,883 - 749 + 926

Bank premises 1,579 - 2 + 65

Other assets5 36,505 - 9 + 956

Total assets (1,086) 732,594 - 13,223 + 61,170

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 660,078 - 1,089 + 37,251

Reverse repurchase agreements6 21,673 - 184 + 21,673

Deposits (-40) 22,192 - 11,366 + 1,515

Depository institutions 15,747 - 12,613 + 1,193

U.S. Treasury, general account 6,126 + 1,301 + 350

Foreign official 77 - 52 - 19

Other ( - 4 0 ) 243 0 - 8

Deferred availability cash items (1,126) 8,815 - 602 + 345

Other liabilities and accrued dividends7 2,305 - 21 - 203

Total liabilities (1,086) 715,063 - 13,263 + 60,581

Capital accounts

Capital paid in 8,584 + 10 + 302

Surplus 8,380 0 + 1,068

Other capital accounts 566 + 29 - 783

Total capital 17,530 + 39 + 588

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jun 5, 2002

Eliminations from

consolidation Wednesday

 Jun 4, 2003

Wednesday

 May 28, 2003

3. Maturity Distribution of Loans and Securities, June 4, 2003

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 effect 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 23 45,801 - 5,948 0 0 14,000 21,673

16 days to 90 days 41 143,909 + 5,815 0 0 5,000 0

91 days to 1 year 0 154,845 + 951 10 0 . . . . . . 

Over 1 year to 5 years . . . 180,193 - 277 0 0 . . . . . . 

Over 5 years to 10 years . . . 46,670 + 1 0 0 . . . . . . 

Over 10 years . . . 79,985 + 2 0 0 . . . . . . 

All 65 651,403 + 544 10 0 19,000 21,673

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on June 4, 2003Millions 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 effect of inflation on the original face value of such sec

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.

 11,040 2,200 909 670,477 651,413 651,403 238,223 413,180 10 19,000 65 10,969 1,579 36,505 0 733,679

Assets, liabilities, and capital

 4,707 874 33 297,699 278,695 278,691 101,919 176,772 4 19,000 4 923 185 13,078 +16,545 334,045

 495 115 43 31,495 31,493 31,492 11,517 19,975 0 0 2 559 91 1,688 - 3,601 30,885

 380 83 65 20,366 20,366 20,366 7,448 12,918 0 0 0 685 52 1,016 - 3,142 19,505

 477 104 35 30,524 30,524 30,523 11,163 19,361 0 0 0 614 152 2,292 - 2,731 31,467

 808 147 119 50,096 50,096 50,095 18,320 31,775 1 0 0 1,038 143 5,851 - 2,768 55,434

 863 166 97 44,010 44,007 44,006 16,093 27,913 1 0 3 1,038 278 2,117 - 2,997 45,572

 982 212 109 65,837 65,825 65,824 24,072 41,752 1 0 11 959 117 3,388 - 6,791 64,813

 331 71 51 20,511 20,494 20,494 7,495 12,999 0 0 16 657 43 938 - 1,544 21,057

 2   14,5 14,5 14,5 5,3 9,2    4 1 1,1 - 5 15,9
 761,219

 97,120 664,099 664,099 11,040 2,200 648,732 2,127 670,413 21,680 648,732

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.

 761,219 101,142 660,078 21,673 22,152 15,747 6,126 77 203 9,941 2,305 716,149 8,584 8,380 566 733,679

 31,716 4,264 27,451 1,048 730 728 0 2 1 618 132 29,979 446 436 24 30,885

 333,172 23,097 310,075 9,273 9,025 2,686 6,126 53 160 996 716 330,085 1,893 1,809 258 334,045

 24,237 7,455 16,782 678 786 784 0 1 1 655 94 18,995 251 233 26 19,505

 30,939 3,913 27,026 1,016 1,201 1,198 0 3 0 691 129 30,062 688 702 14 31,467

 54,671 7,588 47,083 1,667 1,526 1,447 0 7 72 714 265 51,255 2,081 2,073 25 55,434

 60,351 19,913 40,438 1,464 1,445 1,484 0 2 -40 1,065 181 44,594 478 475 26 45,572

 63,330 6,663 56,666 2,190 2,991 2,987 0 3 0 915 228 62,990 895 858 70 64,813

 22,535 3,468 19,067 682 463 455 0 1 7 281 99 20,593 228 199 37 21,057

 15,2 1,3 13,9 4 4 4    4  15,2 3 3  15,9

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on June 4, 2003 (continued)Millions of dollars

Assets, liabilities, and capital

Federal Reserve notes outstanding

Less: Notes held by F.R. Banks

not subject to collateralization

Federal Reserve notes to be collateralized

Collateral 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

 Jun 4, 2003

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 ofinflation-indexed securities, and cash value of repurchase agreements.