FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                           February 6, 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            Feb 5, 2003 Jan 29, 2003  Feb 6, 2002  Feb 5, 2003
Federal Reserve Banks

Reserve Bank Credit                                         694,493    +   3,899    +  64,779      687,819
 Securities held outright                                   629,415    -       1    +  67,279      629,411       
    U.S. Treasury (1)                                       629,405    -       1    +  67,279      629,401
       Bills (2)                                            226,682            0    +  37,791      226,682
       Notes and bonds, nominal (2)                         389,219            0    +  27,109      389,219
       Notes and bonds, inflation-indexed (2)                12,242            0    +   2,056       12,242
       Inflation compensation (3)                             1,261    -       2    +     322        1,257
    Federal agency (2)                                           10            0            0           10      
 Repurchase agreements(4)                                    24,393    +   4,250    -   4,214       27,750
 Loans to depository institutions                                15    -      37    -       7           15
    Primary credit                                               11    -      34    +      11           13
    Secondary credit                                              0            0            0            0
    Seasonal credit                                               4    -       3    -      12            2
    Adjustment credit                                             0            0    -       6            0
 Float                                                          596    -     167    -     361       -9,630
 Other Federal Reserve assets                                40,074    -     146    +   2,082       40,273
Gold stock                                                   11,043            0    -       2       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            34,598    +      14    +   1,127       34,598
       
Total factors supplying reserve funds                       742,333    +   3,913    +  65,904      735,659
                                                                   
Currency in circulation(5)                                  675,778    +   1,009    +  43,935      677,992
Reverse repurchase agreements (6)                            18,483    +      86    +  18,483       17,986
   Foreign official and international accounts               18,483    +      86    +  18,483       17,986
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          360            0    -      54          356
Deposits with F.R.Banks, other than reserve balances         16,456    -   1,578    +     791       16,782       
  U.S. Treasury, general account                              5,392    -   1,770    -     804        5,664
  Foreign official                                              108    -       6    -      82          148
  Service-related                                            10,724    +     186    +   1,707       10,724
     Required clearing balances                              10,356    +       1    +   1,704       10,355
     Adjustments to compensate for float                        368    +     185    +       3          368
  Other                                                         232    +      11    -      30          246
Other liabilities and capital                                19,513    -     360    +   1,974       19,274

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  730,590    -     842    +  65,129      732,390

Reserve balances with Federal Reserve Banks                  11,743    +   4,755    +     775        3,270
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)           865,366    +   7,539     ------        868,037
     U.S. Treasury                                          696,000    +   7,287     ------        697,891
     Federal agency                                         169,367    +     253     ------        170,145
  Securities lent to dealers                                    408    +      51    -   1,245          922   


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  Feb 5, 2003     Jan 29, 2003      Feb 6, 2002

Assets
Gold certificate account                                        11,039                0        -       5
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,134        +      23        -      28
Securities, repurchase agreements, and loans                   657,177        +   7,250        +  64,116
   Securities held outright                                    629,411        -       5        +  65,881
      U.S. Treasury (1)                                        629,401        -       5        +  65,881       
         Bills (2)                                             226,682                0        +  36,897
         Notes and bonds, nominal (2)                          389,219                0        +  26,603
         Notes and bonds, inflation-indexed (2)                 12,242                0        +   2,056
         Inflation compensation (3)                              1,257        -       6        +     323
      Federal agency (2)                                            10                0                0
   Repurchase agreements (4)                                    27,750        +   7,250        -   1,750    
   Loans                                                            15        +       4        -      15
Items in process of collection                    (1,242)        8,959        -     291        -     625
Bank premises                                                    1,539        -       4        +      29
Other assets (5)                                                38,611        -     136        +   1,799
      Total assets                                (1,242)      720,659        +   6,841        +  65,285
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  644,880        +   2,276        +  42,442
Reverse repurchase agreements (6)                               17,986        -     480        +  17,986
Deposits                                              (0)       29,814        +   4,143        +   2,835       
  Depository institutions                                       23,756        +   5,429        +   2,999
  U.S. Treasury, general account                                 5,664        -   1,366        +     288
  Foreign official                                                 148        +      48        -     446
  Other                                               (0)          246        +      32        -       7
Deferred availability cash items                  (1,242)        8,704        +   1,201        +     208
Other liabilities and accrued dividends (7)                      2,231        -      11        -      69
      Total liabilities                           (1,242)      703,616        +   7,130        +  63,402
                          
Capital Accounts
Capital paid in                                                  8,404        +       5        +     967
Surplus                                                          8,380                0        +   1,111
Other capital accounts                                             260        -     292        -     194
      Total capital                                             17,043        -     289        +   1,883


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,   February 5, 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              13       45,981   -   3,611            0           0       24,750       17,986
16 days to 90 days           2      134,667   +   3,958            0           0        3,000            0
91 days to 1 year            0      142,243   -     964           10           0     ------      ------
Over 1 to 5 years     ------        175,434   +     616            0           0     ------      ------
Over 5 to 10 years    ------         51,239   -       1            0           0     ------      ------
Over 10 years         ------         79,837   -       3            0           0     ------      ------
                   		 	
All                         15      629,401   -       5           10           0       27,750      17,986

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   February 5, 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                      11,039        533      4,364        430        522        819        926      1,080        346        179        309        485      1,046
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                           1,134         53         40         66         52        162        124        148         66         41         78        179        125
Securities, repurchase agreements,
      and loans                              657,177     36,062    275,399     24,203     34,730     49,090     44,827     74,069     22,381      9,841     18,606     13,969     54,002
   Securities held outright                  629,411     36,062    247,649     24,203     34,728     49,090     44,817     74,069     22,380      9,839     18,605     13,969     54,001
      U.S. Treasury (1)                      629,401     36,061    247,645     24,202     34,727     49,089     44,816     74,068     22,380      9,839     18,605     13,969     54,000
         Bills (2)                           226,682     12,988     89,191      8,717     12,507     17,680     16,141     26,676      8,060      3,544      6,701      5,031     19,448
         Notes and bonds(3)                  402,719     23,074    158,454     15,486     22,220     31,409     28,675     47,392     14,320      6,296     11,904      8,938     34,552
         Federal agency (2)                       10          1          4          0          1          1          1          1          0          0          0          0          1
      Repurchase agreements(4)                27,750          0     27,750          0          0          0          0          0          0          0          0          0          0
      Loans                                       15          0          0          0          2          0         10          0          0          1          0          0          2
Items in process of collection                10,201        496        810        530        671        762        930        828        743        482        572        383      2,993
Bank premises                                  1,539         91        186         50        152        129        279        116         44        126         50        141        176
Other assets(5)                               38,611      1,943     13,527      1,231      2,501      5,887      2,335      3,891      1,080      1,011        979        848      3,378
Interdistrict settlement account                   0    - 5,979    +35,253    - 7,242    - 6,155    - 3,228    - 4,653    -16,815    - 4,263    + 3,439    - 1,732    +13,814    - 2,439
          Total Assets                       721,901     33,315    330,452     19,350     32,577     53,768     44,933     63,528     20,468     15,150     18,928     29,917     59,515

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   February 5, 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             760,400     32,824    333,391     25,077     32,351     53,884     58,236     63,575     21,829     14,951     20,870     36,210     67,203
  Less: notes held by F.R. Banks              115,520      5,052     27,291      8,067      4,972      8,923     18,578      8,152      3,495      1,962      4,349      8,495     16,186
    Federal Reserve notes, net                644,880     27,772    306,101     17,010     27,379     44,961     39,657     55,424     18,334     12,990     16,522     27,715     51,017
Reverse repurchase agreements (1)              17,986      1,031      7,077        692        992      1,403      1,281      2,117        640        281        532        399      1,543
Deposits                                       29,814      2,790     11,696        560      2,110      2,316      1,860      3,165        622        493        998        778      2,426
  Depository institutions                      23,756      2,786      5,756        559      2,107      2,222      1,857      3,161        621        492        996        777      2,422
  U.S. Treasury, general account                5,664          0      5,664          0          0          0          0          0          0          0          0          0          0
  Foreign official                                148          2        124          1          3          7          2          3          1          1          1          1          3
  Other                                           246          2        152          0          0         87          1          1          1          0          1          0          1
Deferred availability cash items                9,946        704      1,120        512        548        683        999        839        363        623        378        561      2,616
Other liabilities and accrued                 
  dividends (2)                                 2,231        136        680        100        125        252        180        235        100         77         88         85        172
   
    Total liabilities                         704,858     32,433    326,674     18,873     31,154     49,615     43,977     61,780     20,058     14,464     18,518     29,537     57,774
                              
Capital                    
Capital paid in                                 8,404        437      1,809        234        708      2,079        475        861        200        341        204        188        868
Surplus                                         8,380        436      1,809        233        702      2,073        475        858        199        340        201        186        868
Other capital                                     260          8        160         10         14          0          6         30         10          6          6          5          5
     Total liabilities and capital            721,901     33,315    330,452     19,350     32,577     53,768     44,933     63,528     20,468     15,150     18,928     29,917     59,515
                              

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
                                           Feb 5, 2003
              
Federal Reserve notes, net of F.R. 
 Bank holdings                                644,880 
Collateral held against Federal Reserve            
   notes                                      644,880
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              631,641
   Other eligible assets                            0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         657,161
   Less:face value of securities under
         reverse repurchase agreements         17,992
      U.S. Treasury and agency securities
             eligible to be pledged           639,169
   

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.