For Release at 

4:30 P.M. Eastern time 

January 16, 2003

The H.4.1 Statistical Release (“Fa ctors Affecting Reserve Balances of Depository

Institutions and Condition Statement of Federal Reserve Banks”) has been reformatted to

show the new type s of discount window credit extended by the Federal Reserve Banks. 

(For more information on the new credit programs, see

http://www.federalreserve.gov/boarddocs/press/bcreg/2002/200210312/default.htm).

The Federal Reserve Banks began offering prima ry credit and secondary credit on January

9, 2003. The adjustment credit and extended credit programs were discontinued. The

seasonal credit facility continues unchanged. Table 1 of the release now shows amounts

for each of the three types of credit currently available (primary, secondary, and seasonal

credit). The table still shows amounts for adjustment credit, even though this category is

no longer offered, to provide a complete disaggregation of changes in total borrowing from

the corresponding week one year ago.
Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 693,039 - 4,416 + 63,937 698,326

Securities held outright 629,416 0 + 70,943 629,416

U.S. Treasury1 629,406 0 + 70,943 629,406

Bills2 226,682 0 + 39,777 226,682

Notes and bonds, nominal2 389,219 0 + 28,800 389,219

Notes and bonds, inflation-indexed2 12,242 0 + 2,056 12,242

Inflation compensation3 1,263 0 + 310 1,263

Federal agency2 10 0 0 10

Repurchase agreements4 24,428 - 3,965 - 8,543 30,000

Loans to depository institutions 16 - 11 - 2 15

Primary credit 6 + 6 + 6 5

Secondary credit 0 0 0 0

Seasonal credit 11 - 6 + 1 10

Adjustment credit 0 - 10 - 8 0

Float -250 - 970 - 167 -466

Other Federal Reserve assets 39,428 + 529 + 1,705 39,361

Gold stock 11,043 0 - 2 11,043

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

Treasury currency outstanding5 34,525 + 14 + 1,327 34,525

Total factors supplying reserve funds 740,806 - 4,403 + 65,261 746,094

Currency in circulation5 676,353 - 6,783 + 43,634 676,004

Reverse repurchase agreements6 18,152 - 381 + 18,152 17,813

Foreign official and international accounts 18,152 - 381 + 18,152 17,813

Dealers 0 0 0 0

Treasury cash holdings 369 - 1 - 63 369

Deposits with F.R. Banks, other than reserve balances 16,755 + 722 + 1,648 16,785

U.S. Treasury, general account 5,244 + 415 - 468 5,192

Foreign official 173 + 66 - 98 253

Service-related 11,127 + 241 + 2,235 11,127

Required clearing balances 10,537 + 2 + 2,134 10,537

Adjustments to compensate for float 590 + 239 + 101 590

Other 210 - 1 - 22 213

Other liabilities and capital 19,738 + 521 + 2,045 19,631

Total factors, other than reserve balances,

absorbing reserve funds 731,367 - 5,923 + 65,416 730,601

Reserve balances with Federal Reserve Banks 9,439 + 1,520 - 155 15,492

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 859,013 - 2,072 . . . 859,411

U.S. Treasury 694,097 + 80 . . . 692,999

Federal agency 164,916 - 2,152 . . . 166,412

Securities lent to dealers 579 - 381 - 2,045 922

FEDERAL RESERVE statistical release

 January 16, 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

 Jan 15, 2003 Week ended

 Jan 15, 2003 Jan 8, 2003 Jan 16, 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 - 6

Special drawing rights certificate account 2,200 0 0

Coin 1,043 + 47 - 51

Securities, repurchase agreements, and loans 659,431 - 3,753 + 68,777

Securities held outright 629,416 0 + 69,676

U.S. Treasury1 629,406 0 + 69,676

Bills2 226,682 0 + 38,923

Notes and bonds, nominal2 389,219 0 + 28,384

Notes and bonds, inflation-indexed2 12,242 0 + 2,056

Inflation compensation3 1,263 0 + 312

Federal agency2 10 0 0

Repurchase agreements4 30,000 - 3,750 - 900

Loans 15 - 3 + 1

Items in process of collection (1,251) 8,155 - 198 - 502

Bank premises 1,542 + 1 + 30

Other assets5 37,688 + 205 + 1,565

Total assets (1,251) 721,098 - 3,698 + 69,813

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 642,887 - 4,183 + 42,359

Reverse repurchase agreements6 17,813 - 896 + 17,813

Deposits ( 0 ) 32,648 + 1,513 + 7,733

Depository institutions 26,991 + 1,795 + 9,122

U.S. Treasury, general account 5,192 - 298 - 1,527

Foreign official 253 + 154 + 165

Other ( 0 ) 213 - 137 - 25

Deferred availability cash items (1,251) 8,119 - 380 - 259

Other liabilities and accrued dividends7 2,235 + 13 - 118

Total liabilities (1,251) 703,702 - 3,933 + 67,528

Capital accounts

Capital paid in 8,389 + 3 + 970

Surplus 8,478 + 130 + 1,201

Other capital accounts 528 + 102 + 114

Total capital 17,395 + 234 + 2,284

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jan 16, 2002

Eliminations from

consolidation Wednesday

 Jan 15, 2003

Wednesday

 Jan 8, 2003

3. Maturity Distribution of Loans and Securities, January 15, 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 6 43,631 + 1,192 0 0 27,000 17,813

16 days to 90 days 9 136,918 - 1,595 0 0 3,000 0

91 days to 1 year 0 142,959 + 402 10 0 . . . . . . 

Over 1 year to 5 years . . . 174,818 + 2,060 0 0 . . . . . . 

Over 5 years to 10 years . . . 51,240 - 2,060 0 0 . . . . . . 

Over 10 years . . . 79,840 0 0 0 . . . . . . 

All 15 629,406 0 10 0 30,000 17,813

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on January 15, 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 1,043 659,431 629,416 629,406 226,682 402,724 10 30,000 15 9,406 1,542 37,688 0 722,349

Assets, liabilities, and capital

 4,364 874 37 277,651 247,651 247,647 89,191 158,456 4 30,000 1 678 185 13,001 +34,354 331,144

 533 115 47 36,062 36,062 36,062 12,988 23,074 1 0 0 487 92 1,975 - 7,497 31,814

 430 83 60 24,203 24,203 24,202 8,717 15,486 0 0 0 435 50 1,239 - 5,303 21,196

 522 104 46 34,728 34,728 34,727 12,507 22,220 1 0 0 387 152 2,565 - 6,378 32,125

 819 147 155 49,090 49,090 49,089 17,680 31,410 1 0 0 636 129 5,662 - 2,092 54,546

 926 166 108 44,817 44,817 44,816 16,141 28,676 1 0 0 727 279 2,540 - 4,873 44,691

 1,080 212 141 74,076 74,070 74,069 26,676 47,393 1 0 7 859 116 3,883 -15,372 64,995

 346 71 64 22,382 22,381 22,380 8,060 14,320 0 0 1 535 44 990 - 4,080 20,353

 1   9,8 9,8 9,8 3,5 6,2    7 1 6 + 3,6 15,3
 642,887

 642,887 11,039 2,200 629,649 0 659,416 17,818 641,598

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.

 758,031 115,143 642,887 17,813 32,648 26,991 5,192 253 213 9,370 2,235 704,953 8,389 8,478 528 722,349

 32,894 4,826 28,068 1,021 1,059 1,056 0 2 1 624 139 30,911 436 436 31 31,814

 330,237 25,355 304,883 7,009 13,741 8,183 5,192 229 138 1,006 678 327,317 1,809 1,809 210 331,144

 25,383 7,976 17,408 685 1,931 1,930 0 1 0 584 100 20,707 234 233 22 21,196

 32,432 4,899 27,533 983 1,537 1,532 0 3 3 494 121 30,668 707 702 48 32,125

 54,209 9,684 44,525 1,389 3,552 3,479 0 7 66 596 239 50,301 2,073 2,171 0 54,546

 58,467 18,627 39,840 1,268 1,517 1,514 0 2 1 891 180 43,697 475 475 44 44,691

 63,710 8,333 55,377 2,096 4,726 4,722 0 3 0 779 233 63,210 859 858 69 64,995

 21,858 3,556 18,301 633 506 504 0 1 1 394 100 19,934 200 199 19 20,353

 15,0 1,8 13,1 2 4 4    6  14,6 3 3  15,3

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on January 15, 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

 Jan 15, 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.