Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 697,473 - 9,280 + 65,884 701,288

Securities held outright 629,416 + 1 + 73,056 629,416

U.S. Treasury1 629,406 + 1 + 73,056 629,406

Bills2 226,682 0 + 40,954 226,682

Notes and bonds, nominal2 389,219 0 + 29,740 389,219

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

Inflation compensation3 1,263 + 2 + 306 1,263

Federal agency2 10 0 0 10

Repurchase agreements4 28,393 - 9,714 - 8,536 33,750

Loans to depository institutions 27 - 18 - 140 18

Adjustment credit 10 + 5 - 145 0

Seasonal credit 17 - 23 + 5 18

Extended credit 0 0 0 0

Float 738 + 625 - 183 -1,013

Other Federal Reserve assets 38,899 - 174 + 1,686 39,117

Gold stock 11,043 0 - 2 11,043

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

Treasury currency outstanding5 34,511 + 14 + 1,403 34,511

Total factors supplying reserve funds 745,227 - 9,266 + 67,286 749,042

Currency in circulation5 683,136 - 3,448 + 44,180 680,221

Reverse repurchase agreements6 18,533 - 2,332 + 18,533 18,709

Foreign official and international accounts 18,533 - 2,332 + 18,533 18,709

Dealers 0 0 0 0

Treasury cash holdings 370 + 2 - 58 369

Deposits with F.R. Banks, other than reserve balances 16,033 - 246 + 1,822 16,825

U.S. Treasury, general account 4,829 - 187 - 224 5,490

Foreign official 107 - 30 + 3 99

Service-related 10,886 + 237 + 2,019 10,886

Required clearing balances 10,535 0 + 1,985 10,535

Adjustments to compensate for float 351 + 237 + 34 351

Other 211 - 265 + 24 350

Other liabilities and capital 19,217 - 701 + 1,771 19,383

Total factors, other than reserve balances,

absorbing reserve funds 737,290 - 6,723 + 66,248 735,506

Reserve balances with Federal Reserve Banks 7,937 - 2,542 + 1,037 13,535

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 861,085 + 10,398 . . . 859,867

U.S. Treasury 694,017 + 7,272 . . . 695,437

Federal agency 167,068 + 3,125 . . . 164,430

Securities lent to dealers 960 - 99 - 3,644 474

FEDERAL RESERVE statistical release

 January 9, 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 8, 2003 Week ended

 Jan 8, 2003 Jan 1, 2003 Jan 9, 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 996 + 8 - 57

Securities, repurchase agreements, and loans 663,184 - 5,772 + 67,046

Securities held outright 629,416 0 + 71,792

U.S. Treasury1 629,406 0 + 71,792

Bills2 226,682 0 + 40,461

Notes and bonds, nominal2 389,219 0 + 28,967

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

Inflation compensation3 1,263 0 + 308

Federal agency2 10 0 0

Repurchase agreements4 33,750 - 5,750 - 3,750

Loans 18 - 22 - 995

Items in process of collection (1,140) 8,353 - 1,938 - 727

Bank premises 1,541 - 2 + 30

Other assets5 37,483 + 452 + 1,510

Total assets (1,140) 724,796 - 7,252 + 67,796

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 647,070 - 7,202 + 42,397

Reverse repurchase agreements6 18,709 - 2,382 + 18,709

Deposits ( 0 ) 31,135 + 2,886 + 4,192

Depository institutions 25,196 + 2,655 + 3,624

U.S. Treasury, general account 5,490 + 1,070 + 383

Foreign official 99 - 37 + 18

Other ( 0 ) 350 - 802 + 166

Deferred availability cash items (1,140) 8,499 - 960 + 524

Other liabilities and accrued dividends7 2,222 + 5 - 140

Total liabilities (1,140) 707,635 - 7,653 + 65,682

Capital accounts

Capital paid in 8,386 + 6 + 967

Surplus 8,348 - 32 + 1,076

Other capital accounts 426 + 426 + 70

Total capital 17,161 + 401 + 2,114

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jan 9, 2002

Eliminations from

consolidation Wednesday

 Jan 8, 2003

Wednesday

 Jan 1, 2003

3. Maturity Distribution of Loans and Securities, January 8, 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 8 42,439 + 14,995 0 0 30,750 18,709

16 days to 90 days 10 138,513 - 15,712 0 0 3,000 0

91 days to 1 year 0 142,557 + 717 10 0 . . . . . . 

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

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

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

All 18 629,406 0 10 0 33,750 18,709

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on January 8, 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 2,200 996 663,184 629,416 629,406 226,682 402,724 10 33,750 18 9,493 1,541 37,483 0 725,936

Assets, liabilities, and capital

 4,364 874 32 281,401 247,651 247,647 89,191 158,456 4 33,750 0 856 185 12,963 +32,405 333,080

 533 115 44 36,062 36,062 36,062 12,988 23,074 1 0 0 506 91 1,958 - 5,506 33,804

 430 83 59 24,203 24,203 24,202 8,717 15,486 0 0 0 456 50 1,266 - 6,086 20,460

 522 104 42 34,728 34,728 34,727 12,507 22,220 1 0 0 498 152 2,538 - 6,121 32,464

 819 147 149 49,090 49,090 49,089 17,680 31,410 1 0 0 743 129 5,607 - 2,263 54,422

 926 166 100 44,817 44,817 44,816 16,141 28,676 1 0 0 947 279 2,523 - 4,606 45,152

 1,080 212 135 74,074 74,070 74,069 26,676 47,393 1 0 4 610 116 3,856 -16,677 63,406

 346 71 60 22,391 22,381 22,380 8,060 14,320 0 0 10 426 44 982 - 3,472 20,848

 1   9,8 9,8 9,8 3,5 6,2    4 1 6 + 3,9 15,2
 647,070

 647,070 11,039 2,200 633,832 0 663,166 18,715 644,451

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.

 757,969 110,898 647,070 18,709 31,135 25,196 5,490 99 350 9,638 2,222 708,775 8,386 8,348 426 725,936

 33,148 4,478 28,670 1,072 2,375 2,372 0 2 1 655 137 32,908 436 436 24 33,804

 330,268 25,197 305,071 7,361 15,145 9,243 5,490 75 337 1,040 685 329,303 1,809 1,809 160 333,080

 25,400 7,588 17,812 719 835 834 0 1 0 511 102 19,979 233 233 16 20,460

 32,683 4,751 27,933 1,032 1,369 1,365 0 3 1 576 124 31,034 707 702 21 32,464

 54,525 9,337 45,188 1,459 2,766 2,754 0 7 5 602 240 50,256 2,073 2,041 52 54,422

 57,541 17,546 39,996 1,332 1,678 1,674 0 2 1 984 182 44,171 475 475 31 45,152

 64,461 8,039 56,422 2,202 2,062 2,058 0 3 0 720 234 61,640 858 858 50 63,406

 21,998 3,362 18,635 665 736 735 0 1 0 299 99 20,434 199 199 16 20,848

 15,0 1,8 13,1 2 3 3    6  14,5 3 3  15,2

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on January 8, 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 8, 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.