FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                           January 30, 2003
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
                                                                   Averages of daily figures
Reserve Bank credit, related items, and                   Week ended   Change from week ended     Wednesday
reserve balances of depository institutions at           Jan 29, 2003 Jan 22, 2003 Jan 30, 2002 Jan 29, 2003
Federal Reserve Banks

Reserve Bank Credit                                         690,594    -   6,417    +  62,972      692,322
 Securities held outright                                   629,416            0    +  68,365      629,416       
    U.S. Treasury (1)                                       629,406            0    +  68,365      629,406
       Bills (2)                                            226,682            0    +  38,679      226,682
       Notes and bonds, nominal (2)                         389,219            0    +  27,311      389,219
       Notes and bonds, inflation-indexed (2)                12,242            0    +   2,056       12,242
       Inflation compensation (3)                             1,263            0    +     318        1,263
    Federal agency (2)                                           10            0            0           10      
 Repurchase agreements(4)                                    20,143    -   6,893    -   8,321       20,500
 Loans to depository institutions                                52    +      33    +      23           11
    Primary credit                                               45    +      33    +      45            4
    Secondary credit                                              0            0            0            0
    Seasonal credit                                               7            0    -      12            7
    Adjustment credit                                             0            0    -      11            0
 Float                                                          763    -      48    +     792        1,981
 Other Federal Reserve assets                                40,220    +     492    +   2,114       40,414
Gold stock                                                   11,043            0    -       2       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            34,553    +      14    +   1,173       34,553
       
Total factors supplying reserve funds                       738,390    -   6,402    +  64,143      740,118
                                                                   
Currency in circulation(5)                                  674,738    -   1,144    +  44,329      675,689
Reverse repurchase agreements (6)                            18,397    -     170    +  18,397       18,466
   Foreign official and international accounts               18,397    -     170    +  18,397       18,466
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          360    -       8    -      62          361
Deposits with F.R.Banks, other than reserve balances         18,034    +     397    -     563       17,881       
  U.S. Treasury, general account                              7,162    +   1,029    -   2,008        7,030
  Foreign official                                              114    +       1    -     149          100
  Service-related                                            10,538    -     628    +   1,611       10,538
     Required clearing balances                              10,355    -     184    +   1,708       10,355
     Adjustments to compensate for float                        183    -     444    -      96          183
  Other                                                         221    -       4    -      16          214
Other liabilities and capital                                19,873    -      43    +   2,372       19,574

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  731,401    -     969    +  64,472      731,971

Reserve balances with Federal Reserve Banks                   6,989    -   5,434    -     329        8,147
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)           857,827    +      62     ------        858,621
     U.S. Treasury                                          688,713    -   2,432     ------        687,352
     Federal agency                                         169,114    +   2,494     ------        171,269
  Securities lent to dealers                                    357    -      63    -   1,624          362   


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.


2. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of Dollars
                                              Eliminations                          Change Since
                                                  from       Wednesday        Wednesday        Wednesday
Assets, liabilities, and capital             consolidation Jan 29, 2003     Jan 22, 2003     Jan 30, 2002

Assets
Gold certificate account                                        11,039                0        -       6
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,111        +      26        -      40
Securities, repurchase agreements, and loans                   649,927        -  16,252        +  54,708
   Securities held outright                                    629,416                0        +  66,473
      U.S. Treasury (1)                                        629,406                0        +  66,473       
         Bills (2)                                             226,682                0        +  36,785
         Notes and bonds, nominal (2)                          389,219                0        +  27,311
         Notes and bonds, inflation-indexed (2)                 12,242                0        +   2,056
         Inflation compensation (3)                              1,263                0        +     320
      Federal agency (2)                                            10                0                0
   Repurchase agreements (4)                                    20,500        -  16,250        -  11,750    
   Loans                                                            11        -       2        -      14
Items in process of collection                    (1,507)        9,250        -   7,402        -     435
Bank premises                                                    1,543        +       2        +      34
Other assets (5)                                                38,747        +     474        +   1,887
      Total assets                                (1,507)      713,818        -  23,151        +  56,149
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  642,604        -     677        +  42,968
Reverse repurchase agreements (6)                               18,466        -      57        +  18,466
Deposits                                              (0)       25,671        -  18,427        -   6,923       
  Depository institutions                                       18,327        -  19,302        -     265
  U.S. Treasury, general account                                 7,030        +     911        -   6,310
  Foreign official                                                 100        -      22        -     334
  Other                                               (0)          214        -      14        -      14
Deferred availability cash items                  (1,507)        7,503        -   4,016        -     509
Other liabilities and accrued dividends (7)                      2,242        +      29        -      80
      Total liabilities                           (1,507)      696,486        -  23,148        +  53,923
                          
Capital Accounts
Capital paid in                                                  8,399        +       9        +     966
Surplus                                                          8,380                0        +   1,109
Other capital accounts                                             552        -      13        +     150
      Total capital                                             17,332        -       3        +   2,226


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 collatealized by U.S. Treasury and federal agency securites.
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.



3. Maturity Distribution of Loans and Securities,   January 29, 2003
Millions of dollars
                                    U.S. Treasury           Federal agency                      Reverse
Maturity             Loans           securities (1)          securities           Repurchase   repurchase
                                              Weekly                    Weekly    agreements(2)agreements(2)
                                  Holdings    changes      Holdings    changes    
Within 15 days              11       49,592   -   1,026            0           0       16,500       18,466
16 days to 90 days           0      130,709   +   1,033            0           0        4,000            0
91 days to 1 year            0      143,207   -       8           10           0     ------      ------
Over 1 to 5 years     ------        174,818           0            0           0     ------      ------
Over 5 to 10 years    ------         51,240           0            0           0     ------      ------
Over 10 years         ------         79,840           0            0           0     ------      ------
                   		 	
All                         11      629,406           0           10           0       20,500      18,466

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.



4. Statement of Condition of Each Federal Reserve Bank on   January 29, 2003
Millions of dollars
                                                                                                                                                            Kansas                 San
Assets, liabilities, and capital               Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco

Assets                        
Gold certificate account                      11,039        533      4,364        430        522        819        926      1,080        346        179        309        485      1,046
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                           1,111         52         39         64         50        160        121        148         64         41         75        176        121
Securities, repurchase agreements,
      and loans                              649,927     36,062    268,152     24,203     34,728     49,090     44,817     74,072     22,381      9,842     18,610     13,969     54,001
   Securities held outright                  629,416     36,062    247,651     24,203     34,728     49,090     44,817     74,070     22,381      9,839     18,606     13,969     54,001
      U.S. Treasury (1)                      629,406     36,062    247,647     24,202     34,727     49,089     44,816     74,069     22,380      9,839     18,605     13,969     54,001
         Bills (2)                           226,682     12,988     89,191      8,717     12,507     17,680     16,141     26,676      8,060      3,544      6,701      5,031     19,448
         Notes and bonds(3)                  402,724     23,074    158,456     15,486     22,220     31,410     28,676     47,393     14,320      6,296     11,904      8,938     34,552
         Federal agency (2)                       10          1          4          0          1          1          1          1          0          0          0          0          1
      Repurchase agreements(4)                20,500          0     20,500          0          0          0          0          0          0          0          0          0          0
      Loans                                       11          0          1          0          0          0          0          3          0          2          5          0          0
Items in process of collection                10,758        529        846        578        753        919      1,048      1,229        660        450        621        501      2,625
Bank premises                                  1,543         92        186         50        152        129        279        116         44        127         50        142        176
Other assets(5)                               38,747      2,039     13,356      1,276      2,627      5,785      2,619      4,008      1,024        666      1,017        851      3,480
Interdistrict settlement account                   0    - 7,949    +42,737    - 7,187    - 6,440    - 3,430    - 5,992    -18,719    - 4,182    + 3,871    - 2,457    +13,271    - 3,524
          Total Assets                       715,325     31,473    330,554     19,496     32,495     53,619     43,984     62,145     20,409     15,206     18,292     29,493     58,159

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 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.




4. Statement of Condition of Each Federal Reserve Bank on   January 29, 2003
Millions of dollars
                                                                                                                                                            Kansas                 San
Assets, liabilities, and capital                Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco

Liabilities                         
Federal Reserve notes outstanding             759,935     32,853    332,327     25,137     32,365     54,025     58,391     63,715     21,892     14,975     20,749     36,357     67,147
  Less: notes held by F.R. Banks              117,331      5,042     27,167      8,074      5,108      9,207     19,059      8,221      3,618      1,834      4,474      8,843     16,685
    Federal Reserve notes, net                642,604     27,811    305,160     17,064     27,257     44,819     39,333     55,495     18,274     13,141     16,275     27,514     50,462
Reverse repurchase agreements (1)              18,466      1,058      7,266        710      1,019      1,440      1,315      2,173        657        289        546        410      1,584
Deposits                                       25,671        905     12,722        662      1,638      2,315      1,307      1,788        717        468        632        626      1,890
  Depository institutions                      18,327        901      5,467        659      1,635      2,251      1,304      1,784        716        467        630        625      1,886
  U.S. Treasury, general account                7,030          0      7,030          0          0          0          0          0          0          0          0          0          0
  Foreign official                                100          2         77          1          3          7          2          3          1          1          1          1          3
  Other                                           214          2        149          2          1         56          1          1          0          0          1          1          0
Deferred availability cash items                9,010        654        910        472      1,008        574        862        671        246        543        332        472      2,266
Other liabilities and accrued                 
  dividends (2)                                 2,242        133        686        101        125        260        174        237        100         76         91         87        170
   
    Total liabilities                         697,993     30,561    326,744     19,009     31,047     49,408     42,991     60,364     19,994     14,518     17,876     29,110     56,372
                              
Capital                    
Capital paid in                                 8,399        437      1,809        234        707      2,079        475        859        200        340        201        188        868
Surplus                                         8,380        436      1,809        233        702      2,073        475        858        199        340        201        186        868
Other capital                                     552         39        192         20         38         59         43         64         15          8         14          9         50
     Total liabilities and capital            715,325     31,473    330,554     19,496     32,495     53,619     43,984     62,145     20,409     15,206     18,292     29,493     58,159
                              

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        Wednesday
                                          Jan 29, 2003
              
Federal Reserve notes, net of F.R. 
 Bank holdings                                642,604 
Collateral held against Federal Reserve            
   notes                                      642,604
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              629,365
   Other eligible assets                            0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         649,916
   Less:face value of securities under
         reverse repurchase agreements         18,472
      U.S. Treasury and agency securities
             eligible to be pledged           631,445
   

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.