FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                              June 12, 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           Jun 11, 2003  Jun 4, 2003 Jun 12, 2002 Jun 11, 2003
Federal Reserve Banks

Reserve Bank Credit                                         713,231    -   3,690    +  62,941      722,100
 Securities held outright                                   651,585    +     383    +  62,515      651,613       
    U.S. Treasury (1)                                       651,575    +     383    +  62,515      651,603
       Bills (2)                                            238,400    +     390    +  43,339      238,430
       Notes and bonds, nominal (2)                         398,853            0    +  17,619      398,853
       Notes and bonds, inflation-indexed (2)                12,814            0    +   1,212       12,814
       Inflation compensation (3)                             1,508    -       6    +     345        1,505
    Federal agency (2)                                           10            0            0           10      
 Repurchase agreements(4)                                    23,286    -   4,527    -     650       32,500
 Loans to depository institutions                                62    -      14    -      49           65
    Primary credit                                                2    -      10    +       2            0
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              61    -       3    -      45           64
    Adjustment credit                                             0            0    -       5            0
 Float                                                          -76    +     241    +     148         -667
 Other Federal Reserve assets                                38,374    +     226    +     977       38,589
Gold stock                                                   11,044            0            0       11,044
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            35,902    +      14    +   2,000       35,902
       
Total factors supplying reserve funds                       762,377    -   3,676    +  64,941      771,246
                                                                   
Currency in circulation(5)                                  693,094    -     756    +  38,696      693,985
Reverse repurchase agreements (6)                            20,816    -   1,171    +  20,816       21,211
   Foreign official and international accounts               20,816    -     992    +  20,816       21,211
   Dealers                                                        0    -     179            0            0
Treasury cash holdings                                          385    +       9    -      26          381
Deposits with F.R.Banks, other than reserve balances         17,773    -      69    +   2,157       17,222       
  U.S. Treasury, general account                              6,515    +      28    +   1,226        6,031
  Foreign official                                              139    +      16    +      54           80
  Service-related                                            10,878    -     125    +     874       10,878
     Required clearing balances                              10,833            0    +   1,023       10,833
     Adjustments to compensate for float                         45    -     125    -     149           45
  Other                                                         241    +      12    +       3          233
Other liabilities and capital                                20,190    +     200    +     441       20,119

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  752,258    -   1,787    +  62,084      752,917

Reserve balances with Federal Reserve Banks                  10,119    -   1,889    +   2,857       18,329
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)           935,466    +   2,097     ------        936,154
     U.S. Treasury                                          746,591    +   3,072     ------        749,192
     Federal agency                                         188,875    -     975     ------        186,962
  Securities lent to dealers                                    767    -      47    +     505          318   


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 Jun 11, 2003      Jun 4, 2003     Jun 12, 2002

Assets
Gold certificate account                                        11,040                0        -       4
Special drawing rights certificate account                       2,200                0                0
Coin                                                               926        +      17        -       6
Securities, repurchase agreements, and loans                   684,177        +  13,700        +  60,163
   Securities held outright                                    651,613        +     200        +  62,207
      U.S. Treasury (1)                                        651,603        +     200        +  62,207       
         Bills (2)                                             238,430        +     207        +  43,041
         Notes and bonds, nominal (2)                          398,853                0        +  17,619
         Notes and bonds, inflation-indexed (2)                 12,814                0        +   1,212
         Inflation compensation (3)                              1,505        -       7        +     334
      Federal agency (2)                                            10                0                0
   Repurchase agreements (4)                                    32,500        +  13,500        -   2,000    
   Loans                                                            65                0        -      42
Items in process of collection                    (1,061)        7,231        -   2,652        -     509
Bank premises                                                    1,579                0        +      63
Other assets (5)                                                37,010        +     505        +     980
      Total assets                                (1,061)      744,164        +  11,570        +  60,688
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  659,386        -     692        +  35,933
Reverse repurchase agreements (6)                               21,211        -     462        +  21,211
Deposits                                              (0)       35,693        +  13,501        +   2,684       
  Depository institutions                                       29,349        +  13,602        +   1,419
  U.S. Treasury, general account                                 6,031        -      95        +   1,304
  Foreign official                                                  80        +       3        -      29
  Other                                               (0)          233        -      10        -      10
Deferred availability cash items                  (1,061)        7,755        -   1,060        +     270
Other liabilities and accrued dividends (7)                      2,355        +      50        -     208
      Total liabilities                           (1,061)      726,400        +  11,337        +  59,890
                          
Capital Accounts
Capital paid in                                                  8,656        +      72        +     362
Surplus                                                          8,380                0        +   1,068
Other capital accounts                                             728        +     162        -     632
      Total capital                                             17,764        +     234        +     798


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,      June 11, 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              20       45,561   -     240            0           0       27,500       21,211
16 days to 90 days          45      143,282   -     627            0           0        5,000            0
91 days to 1 year            0      155,918   +   1,073           10           0     ------      ------
Over 1 to 5 years     ------        180,191   -       2            0           0     ------      ------
Over 5 to 10 years    ------         46,668   -       2            0           0     ------      ------
Over 10 years         ------         79,982   -       3            0           0     ------      ------
                   		 	
All                         65      651,603   +     200           10           0       32,500      21,211

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      June 11, 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                      11,040        495      4,707        380        477        808        863        982        331        224        303        507        963
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                             926         44         37         61         38        117         99        116         53         36         64        150        111
Securities, repurchase agreements,
      and loans                              684,177     31,504    311,281     20,373     30,533     50,111     44,025     65,859     20,518     14,562     17,516     25,539     52,355
   Securities held outright                  651,613     31,503    278,781     20,372     30,533     50,111     44,020     65,846     20,501     14,545     17,512     25,536     52,353
      U.S. Treasury (1)                      651,603     31,502    278,777     20,372     30,533     50,110     44,020     65,845     20,500     14,545     17,511     25,536     52,353
         Bills (2)                           238,430     11,527    102,008      7,454     11,172     18,336     16,107     24,093      7,501      5,322      6,408      9,344     19,156
         Notes and bonds(3)                  413,173     19,975    176,768     12,917     19,360     31,774     27,912     41,751     12,999      9,223     11,104     16,192     33,196
         Federal agency (2)                       10          0          4          0          0          1          1          1          0          0          0          0          1
      Repurchase agreements(4)                32,500          0     32,500          0          0          0          0          0          0          0          0          0          0
      Loans                                       65          2          0          0          0          0          5         14         17         18          5          3          2
Items in process of collection                 8,292        465        620        386        335        646        783        699        467        382        604        240      2,665
Bank premises                                  1,579         91        185         52        152        143        278        117         43        126         51        164        176
Other assets(5)                               37,010      1,712     13,269      1,025      2,321      5,912      2,151      3,439        954      1,115        885      1,049      3,176
Interdistrict settlement account                   0    - 2,807    +12,169    - 3,097    - 2,466    - 1,391    - 2,118    - 6,459    - 1,151    -   450    +    77    + 3,341    + 4,352
          Total Assets                       745,224     31,619    343,143     19,263     31,494     56,494     46,248     64,965     21,286     16,026     19,566     31,088     64,033

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      June 11, 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             762,447     31,916    332,783     24,213     30,989     55,252     60,510     63,581     22,722     15,314     21,278     34,885     69,005
  Less: notes held by F.R. Banks              103,061      4,351     23,479      7,431      4,033      7,947     19,574      6,998      3,608      1,490      4,041      6,522     13,587
    Federal Reserve notes, net                659,386     27,565    309,304     16,782     26,956     47,305     40,935     56,583     19,114     13,824     17,236     28,364     55,418
Reverse repurchase agreements (1)              21,211      1,025      9,075        663        994      1,631      1,433      2,143        667        473        570        831      1,704
Deposits                                       35,693      1,419     19,175        664      1,561      2,430      1,765      3,323        659        558        825        959      2,355
  Depository institutions                      29,349      1,417     12,930        663      1,558      2,354      1,763      3,319        656        556        824        958      2,352
  U.S. Treasury, general account                6,031          0      6,031          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 80          2         56          1          3          7          2          3          1          1          1          1          3
  Other                                           233          0        157          0          1         69          0          0          2          0          1          0          0
Deferred availability cash items                8,816        559        874        540        429        639        944        835        275        373        443        428      2,476
Other liabilities and accrued                 
  dividends (2)                                 2,355        135        729         96        130        271        182        233        101         93         89        110        187
   
    Total liabilities                         727,460     30,704    339,156     18,746     30,071     52,276     45,259     63,117     20,817     15,321     19,163     30,692     62,140
                              
Capital                    
Capital paid in                                 8,656        446      1,893        251        693      2,081        477        903        228        347        191        190        956
Surplus                                         8,380        436      1,809        233        702      2,073        475        858        199        340        201        186        868
Other capital                                     728         33        285         33         28         64         36         87         43         18         11         20         69
     Total liabilities and capital            745,224     31,619    343,143     19,263     31,494     56,494     46,248     64,965     21,286     16,026     19,566     31,088     64,033
                              

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
                                          Jun 11, 2003
              
Federal Reserve notes outstanding             762,447
   Less: Notes held by F.R. Banks
         not subject to collateralization      98,811
      Federal Reserve Notes to be
         collateralized                       663,636 
Collateral held against Federal Reserve            
   notes                                      663,636
   Gold certificate account                    11,040
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              650,396
   Other eligible assets                            0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         684,113
   Less:face value of securities under
         reverse repurchase agreements         21,222
      U.S. Treasury and agency securities
             eligible to be pledged           662,891
   

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.