FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                             April 24, 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           Apr 23, 2003 Apr 16, 2003 Apr 24, 2002 Apr 23, 2003
Federal Reserve Banks

Reserve Bank Credit                                         709,678    -   1,611    +  69,285      710,210
 Securities held outright                                   646,852    +   1,183    +  66,576      646,901       
    U.S. Treasury (1)                                       646,842    +   1,183    +  66,576      646,891
       Bills (2)                                            235,855    +     142    +  42,626      235,895
       Notes and bonds, nominal (2)                         396,776    +   1,016    +  21,890      396,776
       Notes and bonds, inflation-indexed (2)                12,814            0    +   1,684       12,814
       Inflation compensation (3)                             1,396    +      25    +     375        1,406
    Federal agency (2)                                           10            0            0           10      
 Repurchase agreements(4)                                    23,893    -   2,928    +   1,929       24,500
 Loans to depository institutions                                28    -       8    -      36           30
    Primary credit                                                4    -      12    +       4            3
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              24    +       4    -      32           27
    Adjustment credit                                             0            0    -       8            0
 Float                                                         -441    -     158    +      92         -721
 Other Federal Reserve assets                                39,347    +     301    +     726       39,500
Gold stock                                                   11,043            0    -       1       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            34,808    +      14    +   1,117       34,808
       
Total factors supplying reserve funds                       757,729    -   1,597    +  70,401      758,261
                                                                   
Currency in circulation(5)                                  687,482    -     102    +  43,973      688,443
Reverse repurchase agreements (6)                            20,552    -     193    +  20,552       19,991
   Foreign official and international accounts               20,552    -     193    +  20,552       19,991
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          360    +       3    -      39          352
Deposits with F.R.Banks, other than reserve balances         20,680    +   2,869    +   3,242       20,938       
  U.S. Treasury, general account                              8,927    +   2,457    +   1,933        9,285
  Foreign official                                              106    -      14    +      24          105
  Service-related                                            11,314    +     335    +   1,184       11,314
     Required clearing balances                              10,830    +      10    +     962       10,830
     Adjustments to compensate for float                        484    +     324    +     223          484
  Other                                                         333    +      92    +     101          234
Other liabilities and capital                                20,145    +     204    +   1,287       19,804

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  749,219    +   2,780    +  69,015      749,528

Reserve balances with Federal Reserve Banks                   8,511    -   4,376    +   1,387        8,734
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)           893,084    -   5,114     ------        888,763
     U.S. Treasury                                          717,232    -   2,824     ------        713,171
     Federal agency                                         175,852    -   2,291     ------        175,591
  Securities lent to dealers                                    100    -     350    -     339          219   


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 Apr 23, 2003     Apr 16, 2003     Apr 24, 2002

Assets
Gold certificate account                                        11,038                0        -       6
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,043        -      13        +      44
Securities, repurchase agreements, and loans                   671,431        -  13,410        +  68,317
   Securities held outright                                    646,901        +     106        +  64,853
      U.S. Treasury (1)                                        646,891        +     106        +  64,853       
         Bills (2)                                             235,895        +      81        +  42,182
         Notes and bonds, nominal (2)                          396,776                0        +  20,608
         Notes and bonds, inflation-indexed (2)                 12,814                0        +   1,684
         Inflation compensation (3)                              1,406        +      26        +     380
      Federal agency (2)                                            10                0                0
   Repurchase agreements (4)                                    24,500        -  13,500        +   3,500    
   Loans                                                            30        -      16        -      36
Items in process of collection                    (1,259)        7,589        -     695        +     196
Bank premises                                                    1,560        +       1        +      45
Other assets (5)                                                38,296        +     494        +   1,104
      Total assets                                (1,259)      733,157        -  13,624        +  69,700
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  655,025        -     487        +  42,588
Reverse repurchase agreements (6)                               19,991        +     190        +  19,991
Deposits                                              (0)       30,369        -  12,426        +   5,701       
  Depository institutions                                       20,745        -  12,892        +   2,639
  U.S. Treasury, general account                                 9,285        +     464        +   3,030
  Foreign official                                                 105        +       4        +      29
  Other                                               (0)          234        -       2        +       3
Deferred availability cash items                  (1,259)        7,968        -     835        +     304
Other liabilities and accrued dividends (7)                      2,275        +      36        -     148
      Total liabilities                           (1,259)      715,628        -  13,521        +  68,437
                          
Capital Accounts
Capital paid in                                                  8,526        +       4        +     470
Surplus                                                          8,380                0        +   1,090
Other capital accounts                                             623        -     106        -     297
      Total capital                                             17,529        -     103        +   1,263


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,     April 23, 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              29       51,906   +   2,243            0           0       20,500       19,991
16 days to 90 days           1      127,946   -   1,836            0           0        4,000            0
91 days to 1 year            0      154,035   +     462           10           0     ------      ------
Over 1 to 5 years     ------        181,533   +       7            0           0     ------      ------
Over 5 to 10 years    ------         51,529   -     780            0           0     ------      ------
Over 10 years         ------         79,942   +      10            0           0     ------      ------
                   		 	
All                         30      646,891   +     106           10           0       24,500      19,991

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     April 23, 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                      11,038        495      4,705        380        477        808        863        982        331        224        303        507        963
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                           1,043         51         39         76         43        139         97        132         59         42         71        164        130
Securities, repurchase agreements,
      and loans                              671,431     31,277    301,265     20,225     30,312     49,749     43,704     65,371     20,362     14,450     17,389     25,352     51,975
   Securities held outright                  646,901     31,275    276,765     20,225     30,312     49,749     43,702     65,370     20,352     14,440     17,385     25,352     51,975
      U.S. Treasury (1)                      646,891     31,274    276,761     20,224     30,312     49,748     43,701     65,369     20,352     14,440     17,385     25,351     51,974
         Bills (2)                           235,895     11,404    100,923      7,375     11,053     18,141     15,936     23,837      7,422      5,266      6,340      9,245     18,953
         Notes and bonds(3)                  410,996     19,870    175,837     12,849     19,258     31,607     27,765     41,531     12,930      9,174     11,045     16,107     33,021
         Federal agency (2)                       10          0          4          0          0          1          1          1          0          0          0          0          1
      Repurchase agreements(4)                24,500          0     24,500          0          0          0          0          0          0          0          0          0          0
      Loans                                       30          2          0          0          0          0          2          2          9         10          4          0          1
Items in process of collection                 8,848        445        540        451        261        566        691      1,215        476        470        452        533      2,745
Bank premises                                  1,560         91        186         51        152        144        278        117         44        126         51        144        177
Other assets(5)                               38,296      1,848     13,948      1,100      2,336      5,850      2,237      3,558        994      1,120        917      1,129      3,257
Interdistrict settlement account                   0    - 3,439    +15,556    - 2,634    - 2,104    - 2,847    - 3,746    - 4,691    - 1,555    -   762    -   229    + 2,804    + 3,647
          Total Assets                       734,416     30,885    337,113     19,732     31,581     54,555     44,291     66,896     20,782     15,700     19,021     30,732     63,128

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     April 23, 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             763,141     32,200    337,401     24,348     31,506     54,102     59,145     62,999     22,213     15,129     21,206     35,132     67,759
  Less: notes held by F.R. Banks              108,116      4,715     26,695      7,359      4,385      8,436     20,071      6,899      3,573      1,440      4,286      7,036     13,222
    Federal Reserve notes, net                655,025     27,485    310,706     16,989     27,121     45,666     39,074     56,101     18,640     13,689     16,921     28,097     54,537
Reverse repurchase agreements (1)              19,991        966      8,553        625        937      1,537      1,351      2,020        629        446        537        783      1,606
Deposits                                       30,369        777     12,293      1,019      1,388      2,244      1,690      6,068        645        442        655        750      2,399
  Depository institutions                      20,745        767      2,777      1,016      1,384      2,172      1,688      6,056        640        440        653        749      2,404
  U.S. Treasury, general account                9,285          0      9,285          0          0          0          0          0          0          0          0          0          0
  Foreign official                                105          2         82          1          3          7          2          3          1          1          1          1          3
  Other                                           234          9        150          2          1         64          0          9          4          0          1          1         -8
Deferred availability cash items                9,227        615        893        490        586        658      1,011        691        347        339        402        601      2,596
Other liabilities and accrued                 
  dividends (2)                                 2,275        132        708         94        123        261        183        221         97         84         87        106        177
   
    Total liabilities                         716,887     29,974    333,153     19,217     30,155     50,366     43,309     65,101     20,358     15,000     18,602     30,336     61,316
                              
Capital                    
Capital paid in                                 8,526        446      1,877        251        700      2,070        476        874        206        345        204        189        887
Surplus                                         8,380        436      1,809        233        702      2,073        475        858        199        340        201        186        868
Other capital                                     623         28        275         32         24         47         30         63         18         16         14         20         57
     Total liabilities and capital            734,416     30,885    337,113     19,732     31,581     54,555     44,291     66,896     20,782     15,700     19,021     30,732     63,128
                              

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
                                          Apr 23, 2003
              
Federal Reserve notes, net of F.R. 
 Bank holdings                                655,025 
Collateral held against Federal Reserve            
   notes                                      655,025
   Gold certificate account                    11,038
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              641,787
   Other eligible assets                            0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         671,401
   Less:face value of securities under
         reverse repurchase agreements         19,997
      U.S. Treasury and agency securities
             eligible to be pledged           651,404
   

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.