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.
Reserve Bank Credit 672,629 + 3,602 + 49,896 666,894

U.S. government securities (1)

Bought outright-system account (2,3) 609,586 + 351 + 59,146 610,876

Held under repurchase agreements 0 0 0 0

Federal agency obligations (1)

Bought outright 10 0 0 10

Held under repurchase agreements 0 0 0 0

Repurchase agreements — triparty (4) 25,857 + 2,821 - 8,714 18,000

Acceptances 0 0 0 0

Loans to depository institutions

Adjustment credit 2 - 1 - 6 2

Seasonal credit 54 0 + 20 49

Extended credit 0 0 0 0

Float 274 + 255 - 1,389 1,090

Other F.R. assets 36,846 + 175 + 840 36,866

Gold stock 11,042 0 - 3 11,043

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

Treasury currency outstanding 34,441 + 14 + 1,468 34,441

Total factors supplying reserve funds 720,312 + 3,616 + 51,361 714,578

Currency in circulation* 674,514 + 4,602 + 49,207 675,369

Reverse repurchase agreements — triparty (4) 0 0 0 0

Treasury cash holdings* 377 - 7 - 58 377

Deposits, other than reserve balances, with F.R. Banks

Treasury 4,664 - 352 - 836 3,504

Foreign 127 + 2 - 267 153

Service-related balances and adjustments (5) 10,685 + 60 + 2,160 10,685

Other 228 + 48 - 17 207

Other F.R. liabilities and capital 19,571 + 88 + 1,523 19,452

Total factors, other than reserve balances,

absorbing reserve funds 710,166 + 4,441 + 51,712 709,748

Reserve balances with F.R. Banks (6) 10,146 - 826 - 351 4,830

FEDERAL RESERVE

 December 5, 2002

These data are scheduled for release each Thursday.

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks

Millions of dollars

Averages of daily figures

Reserve balances of depository institutions at

F.R. Banks, Reserve Bank credit, and related items

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.

Change from week ended Wednesday

 Dec 4, 2002 Week ended

 Dec 4, 2002 Nov 27, 2002 Dec 5, 2001
ASSETS

Gold certificate account 11,039 + 1 - 6

Special drawing rights certificate account 2,200 0 0

Coin 1,028 - 21 - 21

Loans 52 - 8 + 13

Acceptances 0 0 0

Repurchase agreements — triparty (1) 18,000 - 11,000 - 10,000

Federal agency obligations (2)

Bought outright 10 0 0

Held under repurchase agreements 0 0 0

U.S. government securities (2)

Bought outright—Bills 208,172 + 604 + 22,355

Notes (3) 297,881 + 542 + 34,030

Bonds (4) 104,823 + 116 + 1,733

Total bought outright (5) 610,876 + 1,262 + 58,118

Held under repurchase agreements 0 0 0

Total U.S. government securities 610,876 + 1,262 + 58,118

Total loans and securities 628,938 - 9,746 + 48,131

Items in process of collection (1,098) 9,589 + 1,471 - 1,188

Bank premises 1,530 0 + 10

Other assets (6) 35,322 0 + 614

 TOTAL ASSETS (1,098) 689,645 - 8,296 + 47,540

LIABILITIES

Federal Reserve notes 642,328 + 1,042 + 47,134

Reverse repurchase agreements — triparty (1) 0 0 0

Deposits

Depository institutions 15,670 - 8,302 + 817

U.S. Treasury—general account 3,504 - 1,578 - 1,284

Foreign—official accounts 153 - 71 + 67

Other ( 3 8 ) 207 + 23 - 36

Total deposits ( 3 8 ) 19,535 - 9,928 - 435

Deferred availability cash items (1,059) 8,329 + 572 - 896

Other liabilities and accrued dividends (7) 2,425 - 2 - 256

TOTAL LIABILITIES (1,098) 672,618 - 8,315 + 45,548

CAPITAL ACCOUNTS

Capital paid in 8,353 + 4 + 996

Surplus 7,312 0 + 582

Other capital accounts 1,362 + 14 + 413

H.4.1(a)

Consolidated Statement of Condition of all Federal Reserve Banks

Millions of dollars

Change Since

Wednesday

 Dec 5, 2001

Eliminations from

Consolidation Wednesday

 Dec 4, 2002

Wednesday

Nov 27, 2002

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

 Federal agency

obligations(2)

Weekly

changes Holdings

 U.S. government

securities (1,2)

Holdings Weekly

changes

Loans

Repurchase

Agreements—

Triparty (3)

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.

Reverse

Repurchase

Agreements—

Triparty (3)

Within 15 days 30 21,260 - 4,386 0 0 13,000 0

16 days to 90 days 22 142,625 + 7,380 0 0 5,000 0

91 days to 1 year 0 139,936 - 2,179 0 0 ——— ———

 Over 1 year to 5 years ——— 173,934 + 129 10 0 ——— ———

 Over 5 years to 10 years ——— 53,290 + 316 0 0 ——— ———

Over 10 years ——— 79,831 + 2 0 0 ——— ———

Total 52 610,876 + 1,262 10 0 18,000 0
 533

 115 47 0 0 0 1 0 11,927 17,067 6,006 35,000 0 35,000 35,000 459 91 1,833 - 6,712 31,367

H.4.1 (b)Statement of Condition of Each Federal Reserve Bank on December 4, 2002Millions of dollars

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

ASSETS

Gold certificate accountSpecial drawing rights certif. acct.CoinLoansAcceptancesRepurchase agreements — triparty (1)Federal agency obligations (2)

Bought outrightHeld 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

Items in process of collectionBank premisesOther assets (6)Interdistrict settlement account

TOTAL ASSETS

1 Cash value of agreements arranged through third-party custodial banks. These agreements are collateralized by U.S. government and federal agency secu2 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 eff

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 ef

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 

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.

 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 10,686 1,530 35,322 0 690,742

 4,364 874 38 0 0 18,000 4 0 81,908 117,204 41,244 240,356 0 240,356 276,360 1,158 184 12,363 +33,694 329,035

 430 83 62 1 0 0 0 0 8,005 11,454 4,031 23,490 0 23,490 23,492 558 49 1,114 - 5,751 20,036

 522 104 46 0 0 0 1 0 11,486 16,436 5,784 33,705 0 33,705 33,706 495 152 2,386 - 5,581 31,830

 819 147 143 0 0 0 1 0 16,236 23,233 8,175 47,644 0 47,644 47,645 879 129 5,275 - 3,197 51,839

 926 166 115 8 0 0 1 0 14,823 21,210 7,464 43,497 0 43,497 43,506 919 279 2,357 - 5,319 42,948

 1,080 212 129 2 0 0 1 0 24,498 35,055 12,336 71,888 0 71,888 71,891 793 116 3,598 -14,987 62,833

 346 71 59 13 0 0 0 0 7,402 10,592 3,727 21,721 0 21,721 21,735 712 43 920 - 3,690 20,196

 1        3,2 4,6 1,6 9,5  9,5 9,5 6 1 6 + 3,9 15,0
H.4.1 (c)

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

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

 LIABILITIES

Federal Reserve notesReverse repurchase agreements—triparty (1)Deposits

Depository institutionsU.S. Treasury—general accountForeign—official accountsOther

Total deposits

Deferred credit itemsOther liabilities and accrued

dividends (2)

TOTAL LIABILITIES

CAPITAL ACCOUNTS

Capital paid inSurplusOther capital accounts

TOTAL LIABILITIES AND CAPITAL

ACCOUNTS

FEDERAL RESERVE AGENTS’ ACCOUNTSF.R. notes outstandingLess—Held by F.R. Banks

F.R. notes, net

Collateral held against F.R. notes

Gold certificate accountSpecial drawing rights

certificate account

Other eligible assetsU.S. govt. and agency securities (3)

 Total collateral1 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 

arrangements and excludes the par value of securities pledged under reverse repurchase agreements.

Components may not add to totals due to rounding.

 642,328 0 15,670 3,504 153 246 19,574 9,388 2,425 673,715 8,353 7,312 1,362 690,742 759,934 117,606 642,328 11,039 2,200 204 628,886 642,328

 28,668 0 1,056 0 2 4 1,062 602 144 30,476 436 418 36 31,367 33,531 4,863 28,668

 299,947 0 1,844 3,504 129 136 5,614 978 741 307,280 1,801 1,504 450 311,035 329,317 29,371 299,947

 18,011 0 917 0 1 0 919 504 106 19,540 242 221 32 20,036 25,659 7,648 18,011

 28,459 0 1,355 0 3 0 1,358 456 143 30,416 700 665 49 31,830 33,026 4,567 28,459

 44,943 0 1,773 0 7 59 1,839 639 264 47,686 2,073 1,757 323 51,839 54,938 9,994 44,943

 39,356 0 1,369 0 2 39 1,411 957 194 41,918 474 535 22 42,948 57,676 18,320 39,356

 57,192 0 2,849 0 3 1 2,853 793 257 61,095 851 793 94 62,833 65,703 8,511 57,192

 18,832 0 553 0 1 1 554 292 105 19,783 199 149 65 20,196 22,356 3,524 18,832

 13,3  4    4 6  14,4 3 1 1 15,0 15,2 1,9 13,3