Reserve Bank Credit 643,814 - 2,085 + 61,752 644,372

U.S. government securities (1)

Bought outright-system account (2,3) 585,122 + 1,150 + 59,023 584,602

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) 22,893 + 106 + 1,978 23,500

Acceptances 0 0 0 0

Loans to depository institutions

Adjustment credit 12 + 6 + 9 24

Seasonal credit 105 + 10 + 22 111

Extended credit 0 0 0 0

Float -748 - 654 - 878 -683

Other F.R. assets 36,421 - 2,703 + 1,598 36,808

Gold stock 11,044 0 - 2 11,044

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

Treasury currency outstanding 33,703 + 14 + 1,199 33,703

Total factors supplying reserve funds 690,761 - 2,070 + 62,949 691,318

Currency in circulation* 648,751 + 1,056 + 57,770 651,172

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

Treasury cash holdings* 411 + 3 - 100 411

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

Treasury 4,914 - 220 - 79 4,024

Foreign 76 - 23 0 72

Service-related balances and adjustments (5) 10,159 + 117 + 3,072 10,159

Other 217 + 3 - 125 217

Other F.R. liabilities and capital 19,460 + 361 + 1,516 19,406

Total factors, other than reserve balances,

absorbing reserve funds 683,986 + 1,294 + 62,051 685,461

Reserve balances with F.R. Banks (6) 6,774 - 3,365 + 897 5,857

FEDERAL RESERVE

 May 23, 2002

These data are scheduled for release each Thursday. The exact time of each release will be announced, when the information is

available, on (202) 452-3206.

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 May 22, 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 $ 747,170 million, a change of $ - 646 million for the week. The total includes

$ 603,657 million of U.S. government securities and $ 143,513 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 $ 21,919 million (daily average over statement week) and $ 23,291 million (outstanding on Wednesday statement date)

matched sale-purchase transactions, of which $ 21,704 million (daily average) and $ 21,791 million (outstanding on Wednesday

statement date) were with foreign official and international accounts. Includes securities loans of $ 1,184 million (daily average)

and $ 110 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.

3 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,122 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 $ 9,768 million and adjustments of $ 390 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

May 22, 2002 Week ended

May 22, 2002 May 15, 2002 May 23, 2001
ASSETS

Gold certificate account 11,044 0 - 2

Special drawing rights certificate account 2,200 0 0

Coin 937 - 25 - 159

Loans 135 + 31 + 50

Acceptances 0 0 0

Repurchase agreements — triparty (1) 23,500 - 4,751 - 205

Federal agency obligations (2)

Bought outright 10 0 0

Held under repurchase agreements 0 0 0

U.S. government securities (2)

Bought outright—Bills 193,218 - 2,158 + 18,192

Notes (3) 286,010 + 941 + 33,656

Bonds (4) 105,374 + 52 + 7,146

Total bought outright (5) 584,602 - 1,165 + 58,994

Held under repurchase agreements 0 0 0

Total U.S. government securities 584,602 - 1,165 + 58,994

Total loans and securities 608,247 - 5,885 + 58,839

Items in process of collection (1,058) 6,470 - 113 - 1,163

Bank premises 1,515 + 1 + 16

Other assets (6) 35,043 + 839 + 1,670

 TOTAL ASSETS (1,058) 665,456 - 5,183 + 59,200

LIABILITIES

Federal Reserve notes 618,818 + 2,052 + 56,405

Reverse repurchase agreements — triparty (1) 0 0 0

Deposits

Depository institutions 15,897 - 6,357 + 2,491

U.S. Treasury—general account 4,024 - 944 - 764

Foreign—official accounts 72 - 36 - 12

Other ( 0 ) 217 + 1 - 111

Total deposits ( 0 ) 20,211 - 7,335 + 1,606

Deferred availability cash items (1,058) 7,022 - 326 - 531

Other liabilities and accrued dividends (7) 2,469 + 22 - 929

TOTAL LIABILITIES (1,058) 648,519 - 5,589 + 56,550

CAPITAL ACCOUNTS

Capital paid in 8,096 + 16 + 1,036

Surplus 7,312 + 2 + 770

Other capital accounts 1,530 + 390 + 845

H.4.1(a)

Consolidated Statement of Condition of all Federal Reserve Banks

Millions of dollars

Change Since

Wednesday

May 23, 2001

Eliminations from

Consolidation Wednesday

May 22, 2002

Wednesday

May 15, 2002

1 Cash value of agreements arranged through third-party custodial banks.

2 Face value of the securities.

3 Includes $ 6,591 million of inflation-indexed securities valued at the original face amount and $ 661 million of compensation

that adjusts for the effects of inflation on the principal of such securities.

4 Includes $ 5,011 million of inflation-indexed securities valued at the original face amount and $ 460 million of compensation

that adjusts for the effects of inflation on the principal of such securities.

5 Net of $ 23,291 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities

loans of $ 110 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, May 22, 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 $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,122 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 130 26,794 + 3,356 0 0 19,500 0

16 days to 90 days 6 126,403 - 934 0 0 4,000 0

91 days to 1 year 0 131,761 - 4,580 0 0 ——— ———

 Over 1 year to 5 years ——— 166,467 + 979 10 0 ——— ———

 Over 5 years to 10 years ——— 51,654 + 6 0 0 ——— ———

Over 10 years ——— 81,522 + 7 0 0 ——— ———

Total 135 584,602 - 1,165 10 0 23,500 0
 533

 115 50 6 0 0 1 0 11,070 16,387 6,037 33,495 0 33,495 33,501 552 92 1,829 - 3,500 33,174

H.4.1 (b)Statement of Condition of Each Federal Reserve Bank on May 22, 2002Millions of dollars

Dallas San Francisco Kansas City Minneapolis Total Boston Cleveland Richmond Atlanta Chicago St. Louis New York Philadelphia

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 securities.2 Face value of the securities.3 Includes $ 6,591 million of inflation-indexed securities valued at the original face amount and $ 661 million of compensation that adjusts for the effects of inflation on the

principal of such securities.

4 Includes $ 5,011 million of inflation-indexed securities valued at the original face amount and $ 460 million of compensation that adjusts for the effects of inflation on the

principal of such securities.

5 Net of $ 23,291 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 110 million that are fully

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.

 11,044 2,200 937 135 0 23,500 10 0 193,218 286,010 105,374 584,602 0 584,602 608,247 7,528 1,515 35,043 0 666,514

 4,369 874 46 0 0 23,500 4 0 76,024 112,534 41,460 230,018 0 230,018 253,522 669 181 12,275 + 942 272,877

 430 83 47 0 0 0 0 0 7,430 10,998 4,052 22,480 0 22,480 22,480 359 49 1,152 - 2,305 22,295

 522 104 46 0 0 0 1 0 10,661 15,781 5,814 32,255 0 32,255 32,256 274 151 2,354 - 3,445 32,263

 819 147 127 0 0 0 1 0 15,070 22,307 8,218 45,595 0 45,595 45,595 501 131 5,139 + 2,956 55,417

 926 166 92 2 0 0 1 0 13,758 20,365 7,503 41,626 0 41,626 41,629 499 280 2,351 + 2,035 47,979

 1,080 212 118 34 0 0 1 0 22,738 33,658 12,400 68,796 0 68,796 68,831 606 107 3,595 - 4,289 70,261

 346 71 54 19 0 0 0 0 6,870 10,170 3,747 20,787 0 20,787 20,806 330 43 926 - 1,628 20,948

 179 30 36 37 0 0 0 0 3,020 4,471 1,647 9,139 0 9,139 9,176 538 123 601 + 4,550 15,233

 309 66 67 11 0 0 0 0 5,712 8,454 3,115 17,281 0 17,281 17,292 520 49 920 - 365 18,858

 485 98 124 2 0 0 0 0 4,288 6,348 2,339 12,974 0 12,974 12,977 335 137 773 + 8,195 23,125

 1,046 234 127 23 0 0 1 0 16,577 24,539 9,041 50,156 0 50,156 50,180 2,344 172 3,128 - 3,147 54,084
H.4.1 (c)

Statement of Condition of Each Federal Reserve Bank on May 22, 2002Millions of dollars

Dallas San Francisco Kansas City Minneapolis Total Boston Cleveland Richmond Atlanta Chicago St. Louis New York Philadelphia

 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 agreements under triparty

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

Components may not add to totals due to rounding.

 618,818 0 15,897 4,024 72 217 20,211 8,080 2,469 649,577 8,096 7,312 1,530 666,514 751,975 133,157 618,818 11,044 2,200 0 605,574 618,818

 30,628 0 908 0 2 13 924 560 151 32,263 430 418 62 33,174 35,163 4,535 30,628

 260,702 0 2,713 4,024 49 142 6,928 850 756 269,237 1,683 1,504 453 272,877 303,541 42,838 260,702

 20,730 0 510 0 1 0 511 470 109 21,820 223 221 30 22,295 27,381 6,650 20,730

 28,772 0 1,534 0 3 1 1,537 383 145 30,837 684 665 77 32,263 33,525 4,752 28,772

 47,209 0 2,952 0 7 54 3,014 572 263 51,058 2,115 1,757 486 55,417 57,243 10,034 47,209

 44,801 0 1,105 0 2 0 1,107 821 203 46,931 452 535 62 47,979 61,633 16,832 44,801

 65,389 0 2,298 0 3 1 2,302 599 263 68,553 810 793 105 70,261 72,050 6,661 65,389

 19,631 0 545 0 1 2 548 223 108 20,510 208 149 82 20,948 23,685 4,054 19,631

 13,800 0 415 0 1 0 416 502 80 14,798 304 118 13 15,233 15,908 2,108 13,800

 17,390 0 607 0 1 1 610 356 97 18,452 192 191 24 18,858 21,139 3,749 17,390

 21,599 0 734 0 1 0 735 336 95 22,766 169 164 26 23,125 34,140 12,540 21,599

 48,165 0 1,576 0 3 0 1,580 2,408 200 52,353 825 796 111 54,084 66,567 18,402 48,165