Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 720,486 + 8,670 + 64,640 722,221

Securities held outright 650,852 + 449 + 63,173 650,869

U.S. Treasury1 650,842 + 449 + 63,173 650,859

Bills2 237,672 + 282 + 42,731 237,683

Notes and bonds, nominal2 398,853 + 146 + 18,856 398,853

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

Inflation compensation3 1,502 + 20 + 373 1,508

Federal agency2 10 0 0 10

Repurchase agreements4 31,857 + 7,249 + 653 32,000

Loans to depository institutions 59 + 3 - 77 62

Primary credit 2 0 + 2 0

Secondary credit 0 0 0 0

Seasonal credit 57 + 3 - 72 62

Adjustment credit 0 0 - 7 0

Float -398 + 456 - 213 1,187

Other Federal Reserve assets 38,116 + 513 + 1,104 38,103

Gold stock 11,043 0 - 1 11,043

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

Treasury currency outstanding5 34,878 + 14 + 1,039 34,878

Total factors supplying reserve funds 768,607 + 8,684 + 65,679 770,342

Currency in circulation5 693,531 + 3,672 + 39,460 694,755

Reverse repurchase agreements6 21,598 + 1,183 + 21,598 21,857

Foreign official and international accounts 21,598 + 1,183 + 21,598 21,857

Dealers 0 0 0 0

Treasury cash holdings 359 + 9 - 53 375

Deposits with F.R. Banks, other than reserve balances 17,050 - 1,514 + 1,563 16,303

U.S. Treasury, general account 5,543 - 1,356 + 531 4,825

Foreign official 160 + 44 + 51 129

Service-related 11,105 - 176 + 946 11,105

Required clearing balances 10,820 0 + 1,050 10,820

Adjustments to compensate for float 285 - 176 - 105 285

Other 242 - 24 + 35 243

Other liabilities and capital 20,281 + 1 + 580 19,818

Total factors, other than reserve balances,

absorbing reserve funds 752,820 + 3,353 + 63,150 753,107

Reserve balances with Federal Reserve Banks 15,787 + 5,331 + 2,529 17,235

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 927,747 + 10,934 . . . 928,892

U.S. Treasury 740,939 + 7,956 . . . 741,441

Federal agency 186,808 + 2,979 . . . 187,451

Securities lent to dealers 918 - 110 + 835 1,661

FEDERAL RESERVE statistical release

 May 29, 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

 May 28, 2003 Week ended

 May 28, 2003 May 21, 2003 May 29, 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 11,039 0 - 5

Special drawing rights certificate account 2,200 0 0

Coin 920 - 30 - 8

Securities, repurchase agreements, and loans 682,931 + 5,890 + 47,791

Securities held outright 650,869 + 134 + 63,300

U.S. Treasury1 650,859 + 134 + 63,300

Bills2 237,683 + 115 + 42,861

Notes and bonds, nominal2 398,853 0 + 18,856

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

Inflation compensation3 1,508 + 19 + 370

Federal agency2 10 0 0

Repurchase agreements4 32,000 + 5,749 - 15,425

Loans 62 + 7 - 84

Items in process of collection (1,052) 10,632 + 4,023 - 218

Bank premises 1,581 0 + 65

Other assets5 36,514 + 306 + 967

Total assets (1,052) 745,817 + 10,189 + 48,592

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 661,167 + 2,858 + 37,320

Reverse repurchase agreements6 21,857 + 1,148 + 21,857

Deposits ( 6 ) 33,558 + 4,414 - 10,821

Depository institutions 28,360 + 7,198 - 11,654

U.S. Treasury, general account 4,825 - 2,783 + 878

Foreign official 129 + 3 - 79

Other ( 6 ) 243 - 4 + 33

Deferred availability cash items (1,046) 9,417 + 1,919 - 276

Other liabilities and accrued dividends7 2,326 + 22 - 196

Total liabilities (1,052) 728,326 + 10,362 + 47,885

Capital accounts

Capital paid in 8,574 + 12 + 307

Surplus 8,380 0 + 1,068

Other capital accounts 537 - 185 - 669

Total capital 17,491 - 173 + 707

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 May 29, 2002

Eliminations from

consolidation Wednesday

 May 28, 2003

Wednesday

 May 21, 2003

3. Maturity Distribution of Loans and Securities, May 28, 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 49 51,749 + 2 0 0 29,000 21,857

16 days to 90 days 14 138,094 + 708 0 0 3,000 0

91 days to 1 year 0 153,894 - 595 10 0 . . . . . . 

Over 1 year to 5 years . . . 180,470 + 5 0 0 . . . . . . 

Over 5 years to 10 years . . . 46,669 + 6 0 0 . . . . . . 

Over 10 years . . . 79,983 + 8 0 0 . . . . . . 

All 62 650,859 + 134 10 0 32,000 21,857

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on May 28, 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.

 11,039 2,200 920 682,931 650,869 650,859 237,683 413,176 10 32,000 62 11,684 1,581 36,514 0 746,869

Assets, liabilities, and capital

 4,706 874 32 310,463 278,463 278,458 101,689 176,770 4 32,000 0 853 186 13,085 + 8,019 338,217

 495 115 42 31,470 31,467 31,466 11,491 19,975 0 0 3 631 91 1,690 - 262 34,272

 380 83 66 20,349 20,349 20,349 7,431 12,918 0 0 0 566 52 1,012 - 2,881 19,626

 477 104 37 30,498 30,498 30,498 11,137 19,360 0 0 0 605 152 2,292 - 1,849 32,315

 808 147 120 50,054 50,054 50,053 18,279 31,774 1 0 0 965 143 5,847 - 2,202 55,883

 863 166 96 43,973 43,970 43,969 16,057 27,913 1 0 3 1,362 278 2,117 - 1,636 47,220

 982 212 112 65,781 65,771 65,770 24,018 41,752 1 0 11 904 117 3,392 - 6,908 64,592

 331 71 52 20,491 20,477 20,477 7,478 12,999 0 0 14 547 44 937 - 931 21,542

 2   14,5 14,5 14,5 5,3 9,2    5 1 1,1 - 2 16,4
 760,695

 95,376 665,319 665,319 11,039 2,200 652,080 0 682,869 21,863 661,006

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.

 760,695 99,528 661,167 21,857 33,564 28,360 4,825 129 249 10,463 2,326 729,378 8,574 8,380 537 746,869

 31,787 4,278 27,510 1,057 3,875 3,871 0 2 2 791 133 33,365 446 436 25 34,272

 333,769 23,630 310,139 9,351 12,980 7,898 4,825 106 151 1,084 716 334,270 1,893 1,809 245 338,217

 24,326 7,253 17,073 683 803 802 0 1 0 458 95 19,113 251 233 29 19,626

 30,968 3,851 27,117 1,024 1,975 1,971 0 3 2 672 127 30,915 688 702 10 32,315

 53,980 7,201 46,779 1,681 2,155 2,063 0 7 85 840 269 51,725 2,075 2,073 10 55,883

 60,390 19,678 40,712 1,477 2,743 2,735 0 2 6 1,131 186 46,249 475 475 21 47,220

 62,997 6,320 56,678 2,209 2,778 2,774 0 3 0 873 228 62,766 896 858 73 64,592

 22,355 3,298 19,058 688 906 904 0 1 1 331 100 21,082 227 199 34 21,542

 15,2 1,3 13,9 4 7 7    4  15,7 3 3  16,4

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on May 28, 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

 May 28, 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.