Reserve Bank Credit 645,879 + 4,344 + 61,037 649,250

U.S. government securities (1)

Bought outright-system account (2,3) 583,972 + 1,805 + 56,714 585,767

Held under repurchase agreements 0 0 0 0

Federal agency obligations (1)

Bought outright 10 0 0 10

Held under repurchase agreements 0 0 0 0

Repurchase agreements — triparty (4) 22,787 + 2,858 + 2,734 28,251

Acceptances 0 0 0 0

Loans to depository institutions

Adjustment credit 6 + 1 - 519 9

Seasonal credit 95 + 1 + 7 95

Extended credit 0 0 0 0

Float -114 - 179 + 39 -830

Other F.R. assets 39,124 - 141 + 2,063 35,948

Gold stock 11,044 0 - 2 11,044

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

Treasury currency outstanding 33,689 + 14 + 1,214 33,689

Total factors supplying reserve funds 692,811 + 4,358 + 62,247 696,182

Currency in circulation* 647,695 + 1,271 + 57,366 649,083

Reverse repurchase agreements — triparty (4) 0 0 0 0

Treasury cash holdings* 408 + 12 - 109 410

Deposits, other than reserve balances, with F.R. Banks

Treasury 5,134 - 11 - 35 4,968

Foreign 99 + 12 - 5 108

Service-related balances and adjustments (5) 10,042 - 87 + 3,199 10,042

Other 214 - 46 - 181 216

Other F.R. liabilities and capital 19,099 - 24 + 1,153 18,978

Total factors, other than reserve balances,

absorbing reserve funds 682,692 + 1,127 + 61,389 683,806

Reserve balances with F.R. Banks (6) 10,120 + 3,232 + 859 12,377

FEDERAL RESERVE

 May 16, 2002

These data are scheduled for release each Thursday. The exact time of each release will be announced, when the information is

available, on (202) 452-3206.

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks

Millions of dollars

Averages of daily figures

Reserve balances of depository institutions at

F.R. Banks, Reserve Bank credit, and related items

On May 15, 2002, the face amount of marketable U.S. government and federal agency securities held in custody by the Federal Reserve

Banks for foreign official and international accounts was $ 747,816 million, a change of $ + 5,339 million for the week. The total includes

$ 603,722 million of U.S. government securities and $ 144,093 million of federal agency securities. The total includes the face value of

U.S. Treasury strips and other zero coupon bonds.

1 Face value of the securities.

2 Net of $ 21,437 million (daily average over statement week) and $ 21,120 million (outstanding on Wednesday statement date)

matched sale-purchase transactions, of which $ 21,437 million (daily average) and $ 21,120 million (outstanding on Wednesday

statement date) were with foreign official and international accounts. Includes securities loans of $ 769 million (daily average)

and $ 2,215 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.

3 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,106 million of compensation

that adjusts for the effects of inflation on the principal of such securities.

4 Cash value of agreements arranged through third-party custodial banks. These agreements are collateralized by U.S. government and

federal agency securities.

5 Consists of required clearing balances of $ 9,864 million and adjustments of $ 179 million to compensate for float.

6 Excludes required clearing balances and adjustments to compensate for float.

* Estimated (Treasury’s figures).

Components may not add to totals due to rounding.

Change from week ended Wednesday

May 15, 2002 Week ended

May 15, 2002 May 8, 2002 May 16, 2001
ASSETS

Gold certificate account 11,044 0 - 2

Special drawing rights certificate account 2,200 0 0

Coin 962 - 11 - 141

Loans 104 + 12 - 6

Acceptances 0 0 0

Repurchase agreements — triparty (1) 28,251 + 9,251 - 3,496

Federal agency obligations (2)

Bought outright 10 0 0

Held under repurchase agreements 0 0 0

U.S. government securities (2)

Bought outright—Bills 195,376 + 564 + 16,668

Notes (3) 285,069 + 1,524 + 33,535

Bonds (4) 105,322 + 7 + 7,183

Total bought outright (5) 585,767 + 2,095 + 57,387

Held under repurchase agreements 0 0 0

Total U.S. government securities 585,767 + 2,095 + 57,387

Total loans and securities 614,132 + 11,358 + 53,885

Items in process of collection (1,156) 6,583 - 1,944 - 1,286

Bank premises 1,514 0 + 15

Other assets (6) 34,204 - 3,440 + 1,291

 TOTAL ASSETS (1,156) 670,639 + 5,965 + 53,764

LIABILITIES

Federal Reserve notes 616,766 + 487 + 55,980

Reverse repurchase agreements — triparty (1) 0 0 0

Deposits

Depository institutions 22,254 + 6,085 - 2,346

U.S. Treasury—general account 4,968 - 484 - 341

Foreign—official accounts 108 + 26 + 32

Other ( 0 ) 216 - 35 - 139

Total deposits ( 0 ) 27,546 + 5,591 - 2,794

Deferred availability cash items (1,156) 7,348 - 338 - 747

Other liabilities and accrued dividends (7) 2,447 + 32 - 971

TOTAL LIABILITIES (1,156) 654,108 + 5,773 + 51,469

CAPITAL ACCOUNTS

Capital paid in 8,080 - 21 + 1,053

Surplus 7,310 + 7 + 802

Other capital accounts 1,140 + 204 + 439

H.4.1(a)

Consolidated Statement of Condition of all Federal Reserve Banks

Millions of dollars

Change Since

Wednesday

May 16, 2001

Eliminations from

Consolidation Wednesday

May 15, 2002

Wednesday

 May 8, 2002

1 Cash value of agreements arranged through third-party custodial banks.

2 Face value of the securities.

3 Includes $ 6,591 million of inflation-indexed securities valued at the original face amount and $ 652 million of compensation

that adjusts for the effects of inflation on the principal of such securities.

4 Includes $ 5,011 million of inflation-indexed securities valued at the original face amount and $ 453 million of compensation

that adjusts for the effects of inflation on the principal of such securities.

5 Net of $ 21,120 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities

loans of $ 2,215 million that are fully collateralized by other U.S. government securities.

6 Includes assets denominated in foreign currencies, revalued daily at market exchange rates.

7 Includes exchange-translation account reflecting the daily revaluation at market exchange rates of foreign exchange commitments.

Maturity Distribution of Loans and Securities, May 15, 2002

Millions of dollars

 Federal agency

obligations(2)

Weekly

changes Holdings

 U.S. government

securities (1,2)

Holdings Weekly

changes

Loans

Repurchase

Agreements—

Triparty (3)

1 Includes $ 11,602 million of inflation-indexed securities valued at the original face amount and $ 1,106 million of compensation

that adjusts for the effects of inflation on the principal of such securities.

2 Includes face value of securities held under repurchase agreements classified by the remaining maturity of the agreements.

3 Cash value of agreements arranged through third-party custodial banks classified by remaining maturity of the agreements.

Components may not add to totals due to rounding.

Reverse

Repurchase

Agreements—

Triparty (3)

Within 15 days 19 23,438 - 4,225 0 0 23,251 0

16 days to 90 days 85 127,337 + 1,389 0 0 5,000 0

91 days to 1 year 0 136,341 + 3,148 0 0 ——— ———

 Over 1 year to 5 years ——— 165,488 + 4,133 10 0 ——— ———

 Over 5 years to 10 years ——— 51,648 - 2,357 0 0 ——— ———

Over 10 years ——— 81,515 + 6 0 0 ——— ———

Total 104 585,767 + 2,095 10 0 28,251 0
 533

 115 53 4 0 0 1 0 11,194 16,333 6,034 33,561 0 33,561 33,566 525 92 1,780 - 3,195 33,470

H.4.1 (b)Statement of Condition of Each Federal Reserve Bank on May 15, 2002Millions of dollars

Dallas San Francisco Kansas City Minneapolis Total Boston Cleveland Richmond Atlanta Chicago St. Louis New York Philadelphia

ASSETS

Gold certificate accountSpecial drawing rights certif. acct.CoinLoansAcceptancesRepurchase agreements — triparty (1)

Federal agency obligations (2)

Bought outrightHeld under repurchase agreements

U.S. government securities (2)

Bought outright— Bills

Notes (3)Bonds (4)

Total bought outright (5)

Held under repurchase agreements

Total U.S. govt. securities

Total loans and securities

Items in process of collectionBank premisesOther assets (6)Interdistrict settlement account

TOTAL ASSETS

1 Cash value of agreements arranged through third-party custodial banks. These agreements are collateralized by U.S. government and federal agency securities.2 Face value of the securities.3 Includes $ 6,591 million of inflation-indexed securities valued at the original face amount and $ 652 million of compensation that adjusts for the effects of inflation on the

principal of such securities.

4 Includes $ 5,011 million of inflation-indexed securities valued at the original face amount and $ 453 million of compensation that adjusts for the effects of inflation on the

principal of such securities.

5 Net of $ 21,120 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 2,215 million that are fully

collateralized by other U.S. government securities.

6 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates.Components may not add to totals due to rounding.

 11,044 2,200 962 104 0 28,251 10 0 195,376 285,069 105,322 585,767 0 585,767 614,132 7,739 1,514 34,204 0 671,795

 4,369 874 49 0 0 28,251 4 0 76,873 112,164 41,440 230,476 0 230,476 258,731 732 181 12,025 - 1,181 275,780

 430 83 50 0 0 0 0 0 7,513 10,962 4,050 22,524 0 22,524 22,525 354 49 1,123 - 2,348 22,264

 522 104 49 0 0 0 1 0 10,780 15,729 5,811 32,320 0 32,320 32,320 289 152 2,297 - 3,036 32,697

 819 147 131 0 0 0 1 0 15,238 22,233 8,214 45,686 0 45,686 45,686 495 131 5,012 + 2,730 55,150

 926 166 92 1 0 0 1 0 13,912 20,298 7,499 41,709 0 41,709 41,710 698 280 2,289 + 1,217 47,378

 1,080 212 123 37 0 0 1 0 22,992 33,547 12,394 68,933 0 68,933 68,971 682 108 3,500 - 3,281 71,395

 346 71 52 12 0 0 0 0 6,947 10,136 3,745 20,829 0 20,829 20,841 455 43 899 - 1,339 21,368

 179 30 38 37 0 0 0 0 3,054 4,456 1,646 9,157 0 9,157 9,194 542 123 585 + 5,080 15,771

 309 66 67 8 0 0 0 0 5,775 8,427 3,113 17,315 0 17,315 17,324 473 49 894 + 21 19,202

 485 98 125 0 0 0 0 0 4,336 6,327 2,337 13,000 0 13,000 13,000 204 136 752 + 8,175 22,975

 1,046 234 133 5 0 0 1 0 16,762 24,458 9,036 50,256 0 50,256 50,263 2,289 171 3,046 - 2,841 54,342
H.4.1 (c)

Statement of Condition of Each Federal Reserve Bank on May 15, 2002Millions of dollars

Dallas San Francisco Kansas City Minneapolis Total Boston Cleveland Richmond Atlanta Chicago St. Louis New York Philadelphia

 LIABILITIES

Federal Reserve notesReverse repurchase agreements—triparty (1)

Deposits

Depository institutionsU.S. Treasury—general accountForeign—official accountsOther

Total deposits

Deferred credit itemsOther liabilities and accrued

dividends (2)

TOTAL LIABILITIES

CAPITAL ACCOUNTS

Capital paid inSurplusOther capital accounts

TOTAL LIABILITIES AND CAPITAL

ACCOUNTS

FEDERAL RESERVE AGENTS’ ACCOUNTSF.R. notes outstandingLess—Held by F.R. Banks

F.R. notes, net

Collateral held against F.R. notes

Gold certificate accountSpecial drawing rights

certificate account

Other eligible assetsU.S. govt. and agency securities (3)

 Total collateral1 Cash value of agreements arranged through third-party custodial banks. These agreements are collateralized by U.S. government and agency securities.2 Includes exchange-translation account reflecting the monthly revaluation at market exchange rates of foreign exchange commitments.3 U.S. government and agency securities bought outright or held under repurchase agreement are valued at face amount. Includes cash value of repurchase agreements under triparty

arrangements and excludes the par value of securities pledged under reverse repurchase agreements.

Components may not add to totals due to rounding.

 616,766 0 22,254 4,968 108 216 27,546 8,504 2,447 655,264 8,080 7,310 1,140 671,795 750,911 134,145 616,766 11,044 2,200 0 603,523 616,766

 30,665 0 1,170 0 2 13 1,185 582 150 32,582 430 418 39 33,470 35,270 4,605 30,665

 259,717 0 5,709 4,968 84 135 10,897 831 752 272,197 1,682 1,504 397 275,780 302,273 42,557 259,717

 20,555 0 554 0 1 0 556 578 108 21,797 223 221 23 22,264 27,370 6,815 20,555

 28,949 0 1,782 0 3 1 1,786 405 142 31,282 684 665 66 32,697 33,750 4,801 28,949

 47,039 0 2,935 0 7 111 3,054 580 254 50,928 2,115 1,757 350 55,150 57,353 10,314 47,039

 43,705 0 1,585 0 2 0 1,588 864 200 46,357 451 535 36 47,378 61,248 17,543 43,705

 65,981 0 2,857 0 3 1 2,861 627 262 69,732 801 793 70 71,395 72,697 6,716 65,981

 19,891 0 703 0 1 2 706 239 109 20,944 205 149 70 21,368 23,731 3,840 19,891

 13,784 0 907 0 1 0 908 576 82 15,350 304 117 0 15,771 15,946 2,162 13,784

 17,353 0 1,000 0 1 -50 951 404 96 18,804 191 191 17 19,202 21,166 3,814 17,353

 21,414 0 794 0 1 0 795 328 94 22,631 169 164 11 22,975 33,857 12,443 21,414

 47,712 0 2,257 0 3 1 2,261 2,491 196 52,660 825 796 62 54,342 66,248 18,536 47,712