Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 697,026 + 3,987 + 65,111 711,477

Securities held outright 629,416 0 + 71,477 629,416

U.S. Treasury1 629,406 0 + 71,477 629,406

Bills2 226,682 0 + 41,642 226,682

Notes and bonds, nominal2 389,219 0 + 27,465 389,219

Notes and bonds, inflation-indexed2 12,242 0 + 2,056 12,242

Inflation compensation3 1,263 0 + 314 1,263

Federal agency2 10 0 0 10

Repurchase agreements4 27,036 + 2,608 - 8,893 36,750

Loans to depository institutions 19 + 3 - 19 13

Primary credit 12 + 6 + 12 6

Secondary credit 0 0 0 0

Seasonal credit 7 - 4 - 10 7

Adjustment credit 0 0 - 21 0

Float 827 + 1,077 + 731 5,412

Other Federal Reserve assets 39,728 + 300 + 1,815 39,886

Gold stock 11,043 0 - 2 11,043

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

Treasury currency outstanding5 34,539 + 14 + 1,250 34,539

Total factors supplying reserve funds 744,808 + 4,001 + 66,359 759,259

Currency in circulation5 675,882 - 471 + 43,865 676,379

Reverse repurchase agreements6 18,567 + 415 + 18,567 18,523

Foreign official and international accounts 18,567 + 415 + 18,567 18,523

Dealers 0 0 0 0

Treasury cash holdings 368 - 1 - 49 360

Deposits with F.R. Banks, other than reserve balances 17,638 + 883 + 975 17,636

U.S. Treasury, general account 6,133 + 889 - 966 6,119

Foreign official 113 - 60 - 22 122

Service-related 11,167 + 40 + 1,961 11,167

Required clearing balances 10,540 + 3 + 2,144 10,540

Adjustments to compensate for float 627 + 37 - 183 627

Other 225 + 15 + 2 228

Other liabilities and capital 19,916 + 178 + 2,322 19,549

Total factors, other than reserve balances,

absorbing reserve funds 732,371 + 1,004 + 65,680 732,446

Reserve balances with Federal Reserve Banks 12,437 + 2,998 + 679 26,813

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 857,765 - 1,248 . . . 859,073

U.S. Treasury 691,145 - 2,952 . . . 691,275

Federal agency 166,620 + 1,704 . . . 167,798

Securities lent to dealers 420 - 159 - 2,053 400

FEDERAL RESERVE statistical release

 January 23, 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

 Jan 22, 2003 Week ended

 Jan 22, 2003 Jan 15, 2003 Jan 23, 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 - 6

Special drawing rights certificate account 2,200 0 0

Coin 1,085 + 42 - 35

Securities, repurchase agreements, and loans 666,179 + 6,748 + 49,413

Securities held outright 629,416 0 + 69,211

U.S. Treasury1 629,406 0 + 69,211

Bills2 226,682 0 + 39,528

Notes and bonds, nominal2 389,219 0 + 27,311

Notes and bonds, inflation-indexed2 12,242 0 + 2,056

Inflation compensation3 1,263 0 + 316

Federal agency2 10 0 0

Repurchase agreements4 36,750 + 6,750 - 19,750

Loans 13 - 2 - 49

Items in process of collection (1,116) 16,652 + 8,497 + 1,919

Bank premises 1,541 - 1 + 28

Other assets5 38,273 + 585 + 1,756

Total assets (1,116) 736,969 + 15,871 + 53,075

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 643,281 + 394 + 42,630

Reverse repurchase agreements6 18,523 + 710 + 18,523

Deposits (69) 44,098 + 11,450 - 10,713

Depository institutions 37,629 + 10,638 - 6,827

U.S. Treasury, general account 6,119 + 927 - 3,731

Foreign official 122 - 131 - 162

Other ( 6 9 ) 228 + 15 + 8

Deferred availability cash items (1,047) 11,519 + 3,400 + 489

Other liabilities and accrued dividends7 2,213 - 22 - 96

Total liabilities (1,116) 719,634 + 15,932 + 50,833

Capital accounts

Capital paid in 8,390 + 1 + 970

Surplus 8,380 - 98 + 1,108

Other capital accounts 565 + 37 + 164

Total capital 17,335 - 60 + 2,241

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jan 23, 2002

Eliminations from

consolidation Wednesday

 Jan 22, 2003

Wednesday

 Jan 15, 2003

3. Maturity Distribution of Loans and Securities, January 22, 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 13 50,618 + 6,987 0 0 32,750 18,523

16 days to 90 days 0 129,676 - 7,242 0 0 4,000 0

91 days to 1 year 0 143,215 + 256 10 0 . . . . . . 

Over 1 year to 5 years . . . 174,818 0 0 0 . . . . . . 

Over 5 years to 10 years . . . 51,240 0 0 0 . . . . . . 

Over 10 years . . . 79,840 0 0 0 . . . . . . 

All 13 629,406 0 10 0 36,750 18,523

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on January 22, 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 1,085 666,179 629,416 629,406 226,682 402,724 10 36,750 13 17,768 1,541 38,273 0 738,085

Assets, liabilities, and capital

 4,364 874 39 284,402 247,651 247,647 89,191 158,456 4 36,750 1 1,371 185 13,178 +31,254 335,666

 533 115 48 36,062 36,062 36,062 12,988 23,074 1 0 0 1,217 92 2,008 - 648 39,427

 430 83 62 24,203 24,203 24,202 8,717 15,486 0 0 1 640 50 1,256 - 6,984 19,741

 522 104 48 34,728 34,728 34,727 12,507 22,220 1 0 0 963 152 2,594 - 6,598 32,512

 819 147 161 49,090 49,090 49,089 17,680 31,410 1 0 0 1,637 129 5,724 - 2,579 55,128

 926 166 114 44,817 44,817 44,816 16,141 28,676 1 0 0 2,150 279 2,579 - 5,292 45,740

 1,080 212 146 74,073 74,070 74,069 26,676 47,393 1 0 4 1,731 115 3,945 -17,044 64,259

 346 71 64 22,382 22,381 22,380 8,060 14,320 0 0 1 893 44 1,008 - 3,990 20,819

 1   9,8 9,8 9,8 3,5 6,2    9 1 6 + 3,6 15,4
 643,281

 643,281 11,039 2,200 630,042 0 666,166 18,528 647,638

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.

 758,979 115,698 643,281 18,523 44,167 37,629 6,119 122 297 12,566 2,213 720,750 8,390 8,380 565 738,085

 32,856 4,921 27,935 1,061 8,453 8,451 0 2 1 930 141 38,520 437 436 33 39,427

 331,278 26,076 305,202 7,288 17,241 10,881 6,119 98 143 1,441 678 331,850 1,809 1,809 198 335,666

 25,266 8,005 17,261 712 659 658 0 1 0 520 101 19,254 234 233 20 19,741

 32,390 5,045 27,345 1,022 1,719 1,715 0 3 1 860 122 31,067 707 702 35 32,512

 54,135 9,522 44,614 1,445 3,680 3,596 0 7 77 942 241 50,922 2,073 2,073 60 55,128

 58,378 18,619 39,760 1,319 2,208 2,136 0 2 70 1,283 178 44,748 475 475 42 45,740

 63,649 8,295 55,354 2,180 3,668 3,664 0 3 1 1,046 232 62,480 859 858 62 64,259

 21,833 3,583 18,250 659 952 950 0 1 1 439 98 20,398 200 199 22 20,819

 15,0 1,8 13,1 2 5 5    7  14,7 3 3  15,4

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on January 22, 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

 Jan 22, 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.