Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 696,359 - 5,609 + 62,118 695,729

Securities held outright 638,586 + 1,713 + 66,662 638,724

U.S. Treasury1 638,576 + 1,713 + 66,662 638,714

Bills2 231,172 + 283 + 39,990 231,305

Notes and bonds, nominal2 393,911 + 1,415 + 24,771 393,911

Notes and bonds, inflation-indexed2 12,242 0 + 1,584 12,242

Inflation compensation3 1,251 + 15 + 317 1,256

Federal agency2 10 0 0 10

Repurchase agreements4 19,214 - 7,922 - 5,829 18,750

Loans to depository institutions 45 + 16 + 23 9

Primary credit 36 + 12 + 36 1

Secondary credit 0 0 0 0

Seasonal credit 9 + 3 - 11 8

Adjustment credit 0 0 - 3 0

Float 494 + 11 - 233 105

Other Federal Reserve assets 38,020 + 573 + 1,496 38,140

Gold stock 11,043 0 - 1 11,043

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

Treasury currency outstanding5 34,737 + 14 + 1,166 34,737

Total factors supplying reserve funds 744,340 - 5,594 + 63,284 743,709

Currency in circulation5 683,034 + 634 + 43,418 684,428

Reverse repurchase agreements6 18,332 + 254 + 18,332 17,912

Foreign official and international accounts 18,332 + 254 + 18,332 17,912

Dealers 0 0 0 0

Treasury cash holdings 356 + 11 - 65 367

Deposits with F.R. Banks, other than reserve balances 16,897 + 868 + 2,263 16,487

U.S. Treasury, general account 5,196 + 287 + 395 4,775

Foreign official 105 - 81 - 19 116

Service-related 11,363 + 642 + 1,884 11,363

Required clearing balances 10,372 + 36 + 1,442 10,372

Adjustments to compensate for float 991 + 606 + 442 991

Other 233 + 21 + 4 233

Other liabilities and capital 20,015 + 210 + 1,419 19,725

Total factors, other than reserve balances,

absorbing reserve funds 738,634 + 1,978 + 65,367 738,919

Reserve balances with Federal Reserve Banks 5,705 - 7,573 - 2,084 4,789

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 901,765 + 11,087 . . . 898,979

U.S. Treasury 723,172 + 10,818 . . . 721,591

Federal agency 178,593 + 269 . . . 177,389

Securities lent to dealers 446 - 33 - 686 872

FEDERAL RESERVE statistical release

 March 13, 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

 Mar 12, 2003 Week ended

 Mar 12, 2003 Mar 5, 2003 Mar 13, 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 1,070 - 10 - 24

Securities, repurchase agreements, and loans 657,483 - 2,926 + 60,722

Securities held outright 638,724 + 1,575 + 65,986

U.S. Treasury1 638,714 + 1,575 + 65,986

Bills2 231,305 + 244 + 40,243

Notes and bonds, nominal2 393,911 + 1,318 + 23,840

Notes and bonds, inflation-indexed2 12,242 0 + 1,584

Inflation compensation3 1,256 + 14 + 319

Federal agency2 10 0 0

Repurchase agreements4 18,750 - 4,500 - 5,250

Loans 9 - 2 - 13

Items in process of collection (1,091) 7,890 - 3,094 + 384

Bank premises 1,557 + 2 + 47

Other assets5 36,762 + 382 + 1,595

Total assets (1,091) 718,001 - 5,647 + 62,720

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 651,124 + 726 + 42,546

Reverse repurchase agreements6 17,912 - 47 + 17,912

Deposits ( 0 ) 21,343 - 5,482 + 524

Depository institutions 16,219 - 4,761 + 918

U.S. Treasury, general account 4,775 - 726 - 222

Foreign official 116 + 11 - 200

Other ( 0 ) 233 - 5 + 28

Deferred availability cash items (1,091) 7,897 - 876 + 127

Other liabilities and accrued dividends7 2,265 + 15 - 152

Total liabilities (1,091) 700,541 - 5,664 + 60,957

Capital accounts

Capital paid in 8,491 + 13 + 841

Surplus 8,380 0 + 1,106

Other capital accounts 589 + 5 - 183

Total capital 17,460 + 18 + 1,763

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Mar 13, 2002

Eliminations from

consolidation Wednesday

 Mar 12, 2003

Wednesday

 Mar 5, 2003

3. Maturity Distribution of Loans and Securities, March 12, 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 4 35,307 - 212 0 0 14,750 17,912

16 days to 90 days 5 141,821 + 1,098 0 0 4,000 0

91 days to 1 year 0 149,837 + 677 10 0 . . . . . . 

Over 1 year to 5 years . . . 180,179 + 3 0 0 . . . . . . 

Over 5 years to 10 years . . . 51,734 + 4 0 0 . . . . . . 

Over 10 years . . . 79,837 + 6 0 0 . . . . . . 

All 9 638,714 + 1,575 10 0 18,750 17,912

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on March 12, 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 1,070 657,483 638,724 638,714 231,305 407,409 10 18,750 9 8,981 1,557 36,762 0 719,092

Assets, liabilities, and capital

 4,364 874 39 270,063 251,313 251,309 91,010 160,300 4 18,750 0 850 186 12,752 +41,268 330,395

 533 115 50 36,595 36,595 36,595 13,253 23,342 1 0 0 543 91 1,837 - 7,971 31,794

 430 83 72 24,561 24,561 24,560 8,894 15,666 0 0 0 455 50 1,129 - 7,040 19,739

 522 104 46 35,242 35,242 35,241 12,762 22,479 1 0 0 597 152 2,409 - 7,780 31,291

 819 147 150 49,816 49,816 49,815 18,040 31,775 1 0 0 751 144 5,792 - 4,057 53,562

 926 166 103 45,480 45,480 45,479 16,470 29,009 1 0 0 493 278 2,201 - 5,631 44,017

 1,080 212 141 75,167 75,165 75,164 27,220 47,944 1 0 2 556 116 3,667 -18,962 61,978

 346 71 59 22,712 22,712 22,711 8,225 14,487 0 0 0 413 44 1,015 - 4,380 20,279

 1   9,9 9,9 9,9 3,6 6,3    6 1 9 + 3,6 15,6
 651,124

 651,124 11,039 2,200 637,886 0 657,474 17,918 639,556

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.

 764,640 113,515 651,124 17,912 21,343 16,219 4,775 116 233 8,988 2,265 701,632 8,491 8,380 589 719,092

 32,542 4,793 27,749 1,026 1,284 1,276 0 2 7 694 139 30,892 438 436 28 31,794

 337,019 27,957 309,062 7,048 8,691 3,668 4,775 93 156 1,010 689 326,499 1,854 1,809 233 330,395

 24,932 7,582 17,350 689 637 635 0 1 1 443 102 19,220 251 233 35 19,739

 31,953 4,712 27,241 988 1,051 1,047 0 3 1 448 130 29,859 700 702 29 31,291

 53,872 8,988 44,884 1,397 2,194 2,123 0 7 64 618 240 49,332 2,092 2,073 65 53,562

 58,938 19,597 39,342 1,275 1,309 1,307 0 2 0 922 187 43,035 475 475 32 44,017

 63,146 7,966 55,180 2,108 2,008 2,004 0 3 0 654 238 60,187 873 858 60 61,978

 21,863 3,613 18,250 637 586 584 0 1 2 288 102 19,862 200 199 17 20,279

 15,0 1,5 13,5 2 4 4    6  14,9 3 3  15,6

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on March 12, 2003 (continued)Millions of dollars

Assets, liabilities, and capital

Federal Reserve notes, net of F.R. Bank holdingsCollateral 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

 Mar 12, 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.