Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 697,030 - 4,727 + 65,031 700,792

Securities held outright 634,932 + 3,923 + 67,590 636,006

U.S. Treasury1 634,922 + 3,923 + 67,590 635,996

Bills2 230,030 + 2,736 + 40,337 230,606

Notes and bonds, nominal2 391,412 + 1,195 + 25,009 391,913

Notes and bonds, inflation-indexed2 12,242 0 + 1,921 12,242

Inflation compensation3 1,238 - 7 + 324 1,235

Federal agency2 10 0 0 10

Repurchase agreements4 23,321 - 6,746 - 5,535 25,750

Loans to depository institutions 13 - 6 - 4 6

Primary credit 10 - 4 + 10 1

Secondary credit 0 0 0 0

Seasonal credit 4 - 1 - 8 5

Adjustment credit 0 0 - 5 0

Float 1,307 + 483 + 1,274 1,293

Other Federal Reserve assets 37,456 - 2,382 + 1,704 37,738

Gold stock 11,043 0 - 1 11,043

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

Treasury currency outstanding5 34,709 + 14 + 1,180 34,709

Total factors supplying reserve funds 744,982 - 4,714 + 66,209 748,744

Currency in circulation5 682,287 - 581 + 44,451 682,941

Reverse repurchase agreements6 17,738 - 187 + 17,738 17,421

Foreign official and international accounts 17,738 - 187 + 17,738 17,421

Dealers 0 0 0 0

Treasury cash holdings 347 - 11 - 63 343

Deposits with F.R. Banks, other than reserve balances 16,509 + 352 + 2,407 16,245

U.S. Treasury, general account 5,249 + 201 + 553 4,950

Foreign official 111 - 21 - 16 154

Service-related 10,904 + 174 + 1,843 10,904

Required clearing balances 10,336 + 21 + 1,465 10,336

Adjustments to compensate for float 567 + 152 + 377 567

Other 245 - 2 + 27 238

Other liabilities and capital 19,964 + 305 + 2,077 19,699

Total factors, other than reserve balances,

absorbing reserve funds 736,846 - 121 + 66,611 736,650

Reserve balances with Federal Reserve Banks 8,136 - 4,593 - 401 12,094

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 881,384 + 6,789 . . . 880,187

U.S. Treasury 704,715 + 4,394 . . . 702,807

Federal agency 176,670 + 2,396 . . . 177,380

Securities lent to dealers 326 + 2 - 1,158 282

FEDERAL RESERVE statistical release

 February 27, 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 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.

Change from week ended Wednesday

 Feb 26, 2003 Week ended

 Feb 26, 2003 Feb 19, 2003 Feb 27, 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 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. 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 - 5

Special drawing rights certificate account 2,200 0 0

Coin 1,100 - 23 - 25

Securities, repurchase agreements, and loans 661,761 - 4,025 + 61,028

Securities held outright 636,006 + 4,733 + 67,294

U.S. Treasury1 635,996 + 4,733 + 67,294

Bills2 230,606 + 3,045 + 40,311

Notes and bonds, nominal2 391,913 + 1,696 + 25,094

Notes and bonds, inflation-indexed2 12,242 0 + 1,584

Inflation compensation3 1,235 - 7 + 305

Federal agency2 10 0 0

Repurchase agreements4 25,750 - 8,746 - 6,249

Loans 6 - 11 - 16

Items in process of collection (1,241) 9,197 - 4,970 + 2,160

Bank premises 1,557 0 + 48

Other assets5 36,130 + 582 + 1,675

Total assets (1,241) 722,984 - 8,436 + 64,881

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 649,670 - 1,366 + 42,766

Reverse repurchase agreements6 17,421 - 429 + 17,421

Deposits ( 0 ) 28,898 - 3,930 + 2,884

Depository institutions 23,556 - 4,450 + 2,741

U.S. Treasury, general account 4,950 + 543 + 42

Foreign official 154 + 20 + 75

Other ( 0 ) 238 - 43 + 26

Deferred availability cash items (1,241) 7,296 - 2,744 - 235

Other liabilities and accrued dividends7 2,276 + 27 - 85

Total liabilities (1,241) 705,561 - 8,443 + 62,751

Capital accounts

Capital paid in 8,440 + 6 + 805

Surplus 8,380 0 + 1,114

Other capital accounts 603 0 + 211

Total capital 17,423 + 7 + 2,130

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Feb 27, 2002

Eliminations from

consolidation Wednesday

 Feb 26, 2003

Wednesday

 Feb 19, 2003

3. Maturity Distribution of Loans and Securities, February 26, 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 effect 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 6 45,075 - 1,242 0 0 20,750 17,421

16 days to 90 days 0 133,699 + 2,545 0 0 5,000 0

91 days to 1 year 0 146,752 + 1,742 10 0 . . . . . . 

Over 1 year to 5 years . . . 178,982 + 992 0 0 . . . . . . 

Over 5 years to 10 years . . . 51,659 + 698 0 0 . . . . . . 

Over 10 years . . . 79,828 - 3 0 0 . . . . . . 

All 6 635,996 + 4,733 10 0 25,750 17,421

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on February 26, 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 effect of inflation on the original face value of such sec

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 1,100 661,761 636,006 635,996 230,606 405,390 10 25,750 6 10,438 1,557 36,130 0 724,226

Assets, liabilities, and capital

 4,364 874 37 275,994 250,244 250,240 90,734 159,505 4 25,750 0 666 186 12,537 +35,456 330,113

 533 115 54 36,440 36,440 36,439 13,212 23,227 1 0 0 505 92 1,807 - 7,995 31,550

 430 83 70 24,456 24,456 24,456 8,867 15,588 0 0 0 481 50 1,107 - 6,527 20,150

 522 104 49 35,092 35,092 35,091 12,724 22,367 1 0 0 422 152 2,366 - 6,560 32,148

 819 147 154 49,604 49,604 49,603 17,986 31,618 1 0 0 600 143 5,710 - 569 56,608

 926 166 114 45,286 45,286 45,285 16,420 28,865 1 0 0 1,241 278 2,151 - 4,922 45,240

 1,080 212 145 74,845 74,845 74,844 27,138 47,706 1 0 0 1,042 116 3,599 -18,592 62,447

 346 71 62 22,615 22,615 22,615 8,200 14,415 0 0 0 676 44 995 - 4,222 20,586

 1   9,9 9,9 9,9 3,6 6,3    7 1 9 + 3,5 15,5
 649,670

 649,670 11,039 2,200 636,432 0 661,756 17,427 644,329

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.

 763,017 113,346 649,670 17,421 28,898 23,556 4,950 154 238 8,538 2,276 706,803 8,440 8,380 603 724,226

 32,644 4,879 27,766 998 1,063 1,058 0 2 3 681 139 30,647 437 436 29 31,550

 335,094 28,151 306,943 6,854 10,820 5,590 4,950 130 149 907 682 326,206 1,854 1,809 245 330,113

 25,066 7,648 17,418 670 981 980 0 1 0 492 101 19,663 235 233 20 20,150

 32,111 4,699 27,412 961 1,819 1,815 0 3 1 401 129 30,722 692 702 31 32,148

 53,640 8,629 45,010 1,359 5,238 5,160 0 7 70 529 252 52,387 2,080 2,073 67 56,608

 59,000 18,686 40,314 1,240 1,571 1,569 0 2 0 944 185 44,254 475 475 36 45,240

 62,996 7,991 55,005 2,050 2,660 2,662 0 3 -5 705 240 60,660 863 858 67 62,447

 21,900 3,325 18,575 619 612 605 0 1 6 257 102 20,166 200 199 20 20,586

 15,0 1,7 13,3 2 5 5    6  14,8 3 3  15,5

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on February 26, 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

 Feb 26, 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 effect of inflation on the original face value ofinflation-indexed securities, and cash value of repurchase agreements.