Reserve Bank Credit 670,752 - 1,875 + 51,008 679,725

U.S. government securities (1)

Bought outright-system account (2,3) 609,905 + 319 + 58,392 608,947

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) 22,000 - 3,857 - 9,500 30,750

Acceptances 0 0 0 0

Loans to depository institutions

Adjustment credit 164 + 162 + 121 1,076

Seasonal credit 46 - 8 + 12 45

Extended credit 0 0 0 0

Float 1,478 + 1,206 + 1,095 1,504

Other F.R. assets 37,149 + 303 + 888 37,393

Gold stock 11,043 + 1 - 2 11,043

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

Treasury currency outstanding 34,455 + 14 + 1,466 34,455

Total factors supplying reserve funds 718,450 - 1,861 + 52,472 727,423

Currency in circulation* 674,290 - 224 + 47,417 675,500

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

Treasury cash holdings* 376 - 1 - 65 372

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

Treasury 4,107 - 557 - 901 5,506

Foreign 138 + 11 - 16 139

Service-related balances and adjustments (5) 10,554 - 131 + 1,804 10,554

Other 208 - 20 - 32 201

Other F.R. liabilities and capital 19,799 + 228 + 1,914 19,786

Total factors, other than reserve balances,

absorbing reserve funds 709,472 - 694 + 50,121 712,058

Reserve balances with F.R. Banks (6) 8,978 - 1,166 + 2,351 15,365

FEDERAL RESERVE

 December 12, 2002

These data are scheduled for release each Thursday.

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 December 11, 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 $ 839,532 million, a change of $ + 6,256 million for the week. The total includes

$ 683,657 million of U.S. government securities and $ 155,874 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 $ 19,483 million (daily average over statement week) and $ 20,445 million (outstanding on Wednesday statement date)

matched sale-purchase transactions, of which $ 19,198 million (daily average) and $ 20,445 million (outstanding on Wednesday

statement date) were with foreign official and international accounts. Includes securities loans of $ 53 million (daily average)

and $ 0 million (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.

3 Includes $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,247 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 $ 10,282 million and adjustments of $ 273 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

Dec 11, 2002 Week ended

Dec 11, 2002 Dec 4, 2002 Dec 12, 2001
ASSETS

Gold certificate account 11,039 0 - 6

Special drawing rights certificate account 2,200 0 0

Coin 1,032 + 4 - 38

Loans 1,121 + 1,069 + 1,003

Acceptances 0 0 0

Repurchase agreements — triparty (1) 30,750 + 12,750 - 11,750

Federal agency obligations (2)

Bought outright 10 0 0

Held under repurchase agreements 0 0 0

U.S. government securities (2)

Bought outright—Bills 206,238 - 1,934 + 19,647

Notes (3) 297,884 + 3 + 34,038

Bonds (4) 104,825 + 2 + 1,738

Total bought outright (5) 608,947 - 1,929 + 55,423

Held under repurchase agreements 0 0 0

Total U.S. government securities 608,947 - 1,929 + 55,423

Total loans and securities 640,828 + 11,890 + 44,676

Items in process of collection (1,312) 10,116 + 527 + 47

Bank premises 1,532 + 2 + 14

Other assets (6) 35,879 + 557 + 943

 TOTAL ASSETS (1,312) 702,625 + 12,980 + 45,636

LIABILITIES

Federal Reserve notes 642,444 + 116 + 44,263

Reverse repurchase agreements — triparty (1) 0 0 0

Deposits

Depository institutions 26,025 + 10,355 - 1,706

U.S. Treasury—general account 5,506 + 2,002 + 914

Foreign—official accounts 139 - 14 - 155

Other ( 0 ) 201 - 6 - 15

Total deposits ( 0 ) 31,871 + 12,336 - 963

Deferred availability cash items (1,312) 8,523 + 194 + 313

Other liabilities and accrued dividends (7) 2,451 + 26 - 213

TOTAL LIABILITIES (1,312) 685,290 + 12,672 + 43,401

CAPITAL ACCOUNTS

Capital paid in 8,359 + 6 + 994

Surplus 7,312 0 + 584

Other capital accounts 1,664 + 302 + 657

H.4.1(a)

Consolidated Statement of Condition of all Federal Reserve Banks

Millions of dollars

Change Since

Wednesday

Dec 12, 2001

Eliminations from

Consolidation Wednesday

Dec 11, 2002

Wednesday

 Dec 4, 2002

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

2 Face value of the securities.

3 Includes $ 7,168 million of inflation-indexed securities valued at the original face amount and $ 700 million of compensation

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

4 Includes $ 5,074 million of inflation-indexed securities valued at the original face amount and $ 547 million of compensation

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

5 Net of $ 20,445 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities

loans of $ 0 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, December 11, 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 $ 12,242 million of inflation-indexed securities valued at the original face amount and $ 1,247 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 1,089 19,955 - 1,305 0 0 25,750 0

16 days to 90 days 32 141,835 - 790 0 0 5,000 0

91 days to 1 year 0 140,097 + 161 0 0 ——— ———

 Over 1 year to 5 years ——— 173,935 + 1 10 0 ——— ———

 Over 5 years to 10 years ——— 53,293 + 3 0 0 ——— ———

Over 10 years ——— 79,833 + 2 0 0 ——— ———

Total 1,121 608,947 - 1,929 10 0 30,750 0
 533

 115 47 280 0 0 1 0 11,816 17,067 6,006 34,889 0 34,889 35,170 580 91 1,866 - 6,362 32,039

H.4.1 (b)Statement of Condition of Each Federal Reserve Bank on December 11, 2002Millions of dollars

Total Boston Cleveland Richmond Atlanta Chicago St. Louis New York Philadelphia Minneap

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 secu2 Face value of the securities.3 Includes $ 7,168 million of inflation-indexed securities valued at the original face amount and $ 700 million of compensation that adjusts for the eff

principal of such securities.

4 Includes $ 5,074 million of inflation-indexed securities valued at the original face amount and $ 547 million of compensation that adjusts for the ef

principal of such securities.

5 Net of $ 20,445 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes securities loans of $ 0 

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.

 11,039 2,200 1,032 1,121 0 30,750 10 0 206,238 297,884 104,825 608,947 0 608,947 640,828 11,427 1,532 35,879 0 703,937

 4,364 874 36 625 0 30,750 4 0 81,146 117,206 41,245 239,597 0 239,597 270,976 899 184 12,557 +31,444 321,334

 430 83 62 0 0 0 0 0 7,930 11,454 4,031 23,416 0 23,416 23,416 810 49 1,136 - 6,255 19,731

 522 104 47 0 0 0 1 0 11,379 16,436 5,784 33,599 0 33,599 33,599 681 152 2,425 - 5,292 32,239

 819 147 144 0 0 0 1 0 16,085 23,233 8,176 47,493 0 47,493 47,494 909 129 5,345 - 1,762 53,225

 926 166 114 177 0 0 1 0 14,685 21,211 7,464 43,359 0 43,359 43,537 1,257 279 2,397 - 5,496 43,180

 1,080 212 132 0 0 0 1 0 24,270 35,055 12,336 71,661 0 71,661 71,663 727 116 3,682 -15,185 62,427

 346 71 60 14 0 0 0 0 7,333 10,592 3,727 21,653 0 21,653 21,667 396 43 938 - 3,250 20,271

 1        3,2 4,6 1,6 9,5  9,5 9,5 6 1 6 + 3,7 14,9
H.4.1 (c)

Statement of Condition of Each Federal Reserve Bank on December 11, 2002Millions of dollars

Total Boston Cleveland Richmond Atlanta Chicago St. Louis New York Philadelphia Minneap

 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 

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

Components may not add to totals due to rounding.

 642,444 0 26,025 5,506 139 201 31,871 9,835 2,451 686,602 8,359 7,312 1,664 703,937 762,428 119,984 642,444 11,039 2,200 0 629,205 642,444

 28,696 0 1,590 0 2 4 1,596 697 146 31,135 436 418 49 32,039 33,531 4,835 28,696

 301,333 0 8,723 5,506 115 134 14,478 961 746 317,518 1,801 1,504 511 321,334 330,776 29,442 301,333

 17,888 0 532 0 1 0 534 695 108 19,225 242 221 43 19,731 25,568 7,680 17,888

 28,396 0 1,628 0 3 1 1,632 624 144 30,797 702 665 75 32,239 32,992 4,596 28,396

 44,530 0 3,424 0 7 56 3,486 725 267 49,009 2,073 1,757 386 53,225 54,889 10,359 44,530

 39,556 0 1,510 0 2 1 1,513 864 198 42,131 475 535 39 43,180 58,289 18,732 39,556

 56,660 0 3,002 0 3 0 3,006 734 258 60,657 851 793 125 62,427 65,606 8,947 56,660

 18,723 0 755 0 1 1 756 270 106 19,854 199 149 68 20,271 22,316 3,593 18,723

 13,1  5    5 5  14,3 3 1 1 14,9 15,1 2,0 13,1