Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 713,850 + 641 + 63,071 714,954

Securities held outright 651,783 + 198 + 60,419 651,932

U.S. Treasury1 651,773 + 198 + 60,419 651,922

Bills2 238,605 + 205 + 41,266 238,756

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

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

Inflation compensation3 1,501 - 7 + 322 1,498

Federal agency2 10 0 0 10

Repurchase agreements4 23,179 - 107 + 1,143 23,000

Loans to depository institutions 74 + 12 - 60 86

Primary credit 3 + 1 + 3 3

Secondary credit 0 0 0 0

Seasonal credit 71 + 10 - 60 83

Adjustment credit 0 0 - 3 0

Float 0 + 99 + 505 1,127

Other Federal Reserve assets 38,815 + 440 + 1,065 38,809

Gold stock 11,044 0 0 11,044

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

Treasury currency outstanding5 34,952 + 14 + 1,019 34,952

Total factors supplying reserve funds 762,046 + 655 + 64,090 763,150

Currency in circulation5 691,472 - 658 + 36,652 692,457

Reverse repurchase agreements6 21,464 + 648 + 21,464 22,901

Foreign official and international accounts 21,142 + 326 + 21,142 20,651

Dealers 321 + 321 + 321 2,250

Treasury cash holdings 379 - 6 - 28 368

Deposits with F.R. Banks, other than reserve balances 18,555 + 782 + 2,034 19,499

U.S. Treasury, general account 7,147 + 632 + 1,253 8,086

Foreign official 88 - 51 - 36 96

Service-related 11,088 + 210 + 840 11,088

Required clearing balances 10,830 - 3 + 915 10,830

Adjustments to compensate for float 258 + 213 - 76 258

Other 232 - 9 - 23 229

Other liabilities and capital 20,322 + 132 + 503 19,937

Total factors, other than reserve balances,

absorbing reserve funds 752,192 + 898 + 60,625 755,161

Reserve balances with Federal Reserve Banks 9,855 - 242 + 3,466 7,989

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 935,900 + 434 . . . 934,711

U.S. Treasury 750,138 + 3,547 . . . 751,560

Federal agency 185,762 - 3,113 . . . 183,151

Securities lent to dealers 625 - 142 - 305 792

FEDERAL RESERVE statistical release

 June 19, 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 18, 2003 Week ended

 Jun 18, 2003 Jun 11, 2003 Jun 19, 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 0 - 4

Special drawing rights certificate account 2,200 0 0

Coin 937 + 11 - 8

Securities, repurchase agreements, and loans 675,017 - 9,160 + 61,920

Securities held outright 651,932 + 319 + 59,735

U.S. Treasury1 651,922 + 319 + 59,735

Bills2 238,756 + 326 + 40,593

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

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

Inflation compensation3 1,498 - 7 + 311

Federal agency2 10 0 0

Repurchase agreements4 23,000 - 9,500 + 2,250

Loans 86 + 21 - 64

Items in process of collection (1,167) 8,832 + 1,601 + 1,716

Bank premises 1,580 + 1 + 63

Other assets5 37,243 + 233 + 775

Total assets (1,167) 736,850 - 7,314 + 64,463

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 658,805 - 581 + 35,282

Reverse repurchase agreements6 22,901 + 1,690 + 22,901

Deposits ( 0 ) 27,211 - 8,482 + 5,607

Depository institutions 18,800 - 10,549 + 4,459

U.S. Treasury, general account 8,086 + 2,055 + 1,187

Foreign official 96 + 16 - 17

Other ( 0 ) 229 - 4 - 22

Deferred availability cash items (1,167) 7,996 + 241 + 444

Other liabilities and accrued dividends7 2,326 - 29 - 228

Total liabilities (1,167) 719,239 - 7,161 + 64,006

Capital accounts

Capital paid in 8,657 + 1 + 337

Surplus 8,380 0 + 1,068

Other capital accounts 574 - 154 - 949

Total capital 17,611 - 153 + 457

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jun 19, 2002

Eliminations from

consolidation Wednesday

 Jun 18, 2003

Wednesday

 Jun 11, 2003

3. Maturity Distribution of Loans and Securities, June 18, 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 72 51,004 + 5,443 0 0 17,000 22,901

16 days to 90 days 13 137,572 - 5,710 0 0 6,000 0

91 days to 1 year 0 156,513 + 595 10 0 . . . . . . 

Over 1 year to 5 years . . . 180,189 - 2 0 0 . . . . . . 

Over 5 years to 10 years . . . 46,665 - 3 0 0 . . . . . . 

Over 10 years . . . 79,979 - 3 0 0 . . . . . . 

All 86 651,922 + 319 10 0 23,000 22,901

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on June 18, 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 2,200 937 675,017 651,932 651,922 238,756 413,165 10 23,000 86 9,999 1,580 37,243 0 738,017

Assets, liabilities, and capital

 4,707 874 36 301,917 278,917 278,913 102,148 176,765 4 23,000 0 848 185 13,399 +12,806 334,772

 495 115 43 31,521 31,518 31,518 11,543 19,975 0 0 3 868 91 1,724 - 3,565 31,292

 380 83 61 20,382 20,382 20,382 7,465 12,917 0 0 0 442 52 1,035 - 2,964 19,470

 477 104 39 30,548 30,548 30,547 11,188 19,360 0 0 0 441 152 2,328 - 3,050 31,039

 808 147 119 50,136 50,136 50,135 18,361 31,774 1 0 0 826 143 5,914 + 243 58,335

 863 166 104 44,047 44,042 44,041 16,129 27,912 1 0 5 1,009 279 2,161 - 1,320 47,308

 982 212 116 65,891 65,878 65,877 24,126 41,750 1 0 13 840 117 3,459 - 7,674 63,942

 331 71 56 20,530 20,511 20,510 7,512 12,999 0 0 19 555 43 965 - 1,183 21,368

 2   14,5 14,5 14,5 5,3 9,2    3 1 1,1 - 3 16,0
 763,602

 100,588 663,014 663,014 11,040 2,200 649,774 0 674,932 22,908 652,023

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.

 763,602 104,797 658,805 22,901 27,211 18,800 8,086 96 229 9,163 2,326 720,406 8,657 8,380 574 738,017

 31,719 4,255 27,464 1,107 1,149 1,146 0 2 2 533 134 30,387 446 436 22 31,292

 331,797 23,630 308,167 9,798 11,168 2,851 8,086 72 159 976 720 330,829 1,894 1,809 241 334,772

 24,379 7,479 16,900 716 803 802 0 1 0 444 95 18,957 252 233 28 19,470

 30,886 4,159 26,727 1,073 1,088 1,085 0 3 1 605 129 29,623 704 702 10 31,039

 55,753 8,430 47,323 1,761 4,148 4,079 0 7 62 662 266 54,160 2,090 2,073 12 58,335

 61,701 19,616 42,085 1,547 1,609 1,607 0 2 0 913 182 46,336 477 475 20 47,308

 63,552 7,211 56,341 2,314 2,405 2,401 0 3 1 837 230 62,128 884 858 73 63,942

 22,913 3,848 19,064 720 679 676 0 1 2 334 99 20,898 228 199 43 21,368

 15,2 1,4 13,7 5 5 5    4  15,3 3 3  16,0

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on June 18, 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 18, 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.