Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 706,754 + 3,087 + 63,960 708,491

Securities held outright 629,415 + 5 + 75,561 629,416

U.S. Treasury1 629,405 + 5 + 75,561 629,406

Bills2 226,682 0 + 42,441 226,682

Notes and bonds, nominal2 389,219 0 + 30,765 389,219

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

Inflation compensation3 1,261 + 5 + 298 1,263

Federal agency2 10 0 0 10

Repurchase agreements4 38,107 + 3,786 - 12,607 39,500

Loans to depository institutions 45 - 14 + 3 40

Adjustment credit 5 - 8 - 5 9

Seasonal credit 40 - 6 + 9 31

Extended credit 0 0 0 0

Float 114 - 1,054 - 1,005 832

Other Federal Reserve assets 39,073 + 365 + 2,008 38,702

Gold stock 11,043 0 - 2 11,043

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

Treasury currency outstanding5 34,497 + 14 + 1,480 34,497

Total factors supplying reserve funds 754,494 + 3,102 + 65,438 756,230

Currency in circulation5 686,592 + 5,151 + 43,548 687,425

Reverse repurchase agreements6 20,865 - 43 + 20,865 21,091

Foreign official and international accounts 20,865 - 43 + 20,865 21,091

Dealers 0 0 0 0

Treasury cash holdings 360 0 - 66 360

Deposits with F.R. Banks, other than reserve balances 16,279 + 93 + 704 16,357

U.S. Treasury, general account 5,016 + 338 - 966 4,420

Foreign official 137 + 23 + 7 136

Service-related 10,649 - 532 + 1,588 10,649

Required clearing balances 10,535 + 83 + 2,010 10,535

Adjustments to compensate for float 114 - 615 - 422 114

Other 476 + 264 + 74 1,152

Other liabilities and capital 19,918 - 523 + 2,508 18,977

Total factors, other than reserve balances,

absorbing reserve funds 744,014 + 4,680 + 67,559 744,210

Reserve balances with Federal Reserve Banks 10,480 - 1,578 - 2,121 12,020

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 850,687 + 1,820 . . . 855,053

U.S. Treasury 686,745 + 748 . . . 690,003

Federal agency 163,943 + 1,073 . . . 165,050

Securities lent to dealers 1,059 + 755 - 6,187 1,841

FEDERAL RESERVE statistical release

 January 2, 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 effects 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 1, 2003 Week ended

 Jan 1, 2003 Dec 25, 2002 Jan 2, 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 effects 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 988 - 23 - 48

Securities, repurchase agreements, and loans 668,956 + 2,235 + 64,569

Securities held outright 629,416 + 4 + 74,561

U.S. Treasury1 629,406 + 4 + 74,561

Bills2 226,682 0 + 41,436

Notes and bonds, nominal2 389,219 0 + 30,765

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

Inflation compensation3 1,263 + 5 + 303

Federal agency2 10 0 0

Repurchase agreements4 39,500 + 2,250 - 10,000

Loans 40 - 19 + 8

Items in process of collection (1,207) 10,291 - 2,948 + 2,828

Bank premises 1,543 + 3 + 32

Other assets5 37,031 - 326 + 1,531

Total assets (1,207) 732,048 - 1,059 + 68,907

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 654,272 + 2,381 + 42,393

Reverse repurchase agreements6 21,091 + 695 + 21,091

Deposits ( 0 ) 28,249 - 1,455 + 127

Depository institutions 22,541 - 2,160 + 2,141

U.S. Treasury, general account 4,420 - 242 - 2,980

Foreign official 136 - 3 + 40

Other ( 0 ) 1,152 + 949 + 927

Deferred availability cash items (1,207) 9,459 - 988 + 3,538

Other liabilities and accrued dividends7 2,217 - 244 - 159

Total liabilities (1,207) 715,288 + 390 + 66,990

Capital accounts

Capital paid in 8,380 - 2 + 1,006

Surplus 8,380 + 1,068 + 1,097

Other capital accounts 0 - 2,516 - 186

Total capital 16,760 - 1,449 + 1,917

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jan 2, 2002

Eliminations from

consolidation Wednesday

 Jan 1, 2003

Wednesday

 Dec 25, 2002

3. Maturity Distribution of Loans and Securities, January 1, 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 effects 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 35 27,444 - 6,226 0 0 25,500 21,091

16 days to 90 days 5 154,225 + 7,379 0 0 14,000 0

91 days to 1 year 0 141,840 + 25 10 0 . . . . . . 

Over 1 year to 5 years . . . 172,758 - 1,178 0 0 . . . . . . 

Over 5 years to 10 years . . . 53,300 + 2 0 0 . . . . . . 

Over 10 years . . . 79,840 + 2 0 0 . . . . . . 

All 40 629,406 + 4 10 0 39,500 21,091

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on January 1, 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 effects of inflation on the original face value of such se

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 2,200 988 668,956 629,416 629,406 226,682 402,724 10 39,500 40 11,498 1,543 37,031 0 733,255

Assets, liabilities, and capital

 4,364 874 33 287,151 247,651 247,647 89,191 158,456 4 39,500 0 992 185 12,757 +25,021 331,377

 533 115 45 36,062 36,062 36,062 12,988 23,074 1 0 0 1,002 91 1,936 - 6,339 33,445

 430 83 61 24,203 24,203 24,202 8,717 15,486 0 0 0 494 50 1,252 - 5,447 21,126

 522 104 43 34,728 34,728 34,727 12,507 22,220 1 0 0 764 153 2,519 - 5,651 33,181

 819 147 144 49,090 49,090 49,089 17,680 31,410 1 0 0 917 129 5,575 - 2,806 54,015

 926 166 103 44,825 44,817 44,816 16,141 28,676 1 0 8 748 279 2,490 - 2,772 46,765

 1,080 212 126 74,076 74,070 74,069 26,676 47,393 1 0 6 1,170 116 3,806 -13,871 66,716

 346 71 59 22,392 22,381 22,380 8,060 14,320 0 0 11 695 44 966 - 3,481 21,093

 1   9,8 9,8 9,8 3,5 6,2    6 1 6 + 4,0 15,5
 654,272

 654,272 11,039 2,200 641,034 0 668,916 21,098 647,818

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.

 759,255 104,983 654,272 21,091 28,249 22,541 4,420 136 1,152 10,666 2,217 716,495 8,380 8,380 0 733,255

 33,188 4,065 29,123 1,208 1,273 1,212 0 2 60 832 135 32,572 436 436 0 33,445

 330,195 24,922 305,273 8,299 12,433 7,571 4,420 112 330 1,069 686 327,759 1,809 1,809 0 331,377

 25,461 6,893 18,569 811 626 577 0 1 49 556 99 20,661 233 233 0 21,126

 32,754 4,417 28,336 1,164 1,467 1,393 0 3 72 685 124 31,776 702 702 0 33,181

 54,616 9,023 45,593 1,645 1,579 1,381 0 7 191 808 243 49,868 2,073 2,073 0 54,015

 58,046 16,757 41,289 1,502 1,870 1,735 0 2 133 972 182 45,814 475 475 0 46,765

 64,617 7,397 57,220 2,482 4,069 3,943 0 3 123 997 232 65,000 858 858 0 66,716

 22,076 3,088 18,988 750 513 480 0 1 33 346 98 20,695 199 199 0 21,093

 15,0 1,7 13,2 3 4 4    7  14,8 3 3  15,5

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on January 1, 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 1, 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 effects of inflation on the original face valueof inflation-indexed securities, and cash value of repurchase agreements.