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`FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                             April 10, 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            Apr 9, 2003  Apr 2, 2003 Apr 10, 2002  Apr 9, 2003
Federal Reserve Banks

Reserve Bank Credit                                         704,413    -   3,420    +  65,636      705,762
 Securities held outright                                   643,940    +   2,629    +  67,137      645,084       
    U.S. Treasury (1)                                       643,930    +   2,629    +  67,137      645,074
       Bills (2)                                            235,045    +   2,501    +  42,655      235,550
       Notes and bonds, nominal (2)                         394,725    +     104    +  21,941      395,354
       Notes and bonds, inflation-indexed (2)                12,814            0    +   2,156       12,814
       Inflation compensation (3)                             1,345    +      23    +     384        1,355
    Federal agency (2)                                           10            0            0           10      
 Repurchase agreements(4)                                    21,893    -   6,571    -   2,500       21,250
 Loans to depository institutions                                29    +      18    -      13           33
    Primary credit                                               13    +       9    +      13           15
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              16    +       9    -      26           18
    Adjustment credit                                             0            0    -       1            0
 Float                                                          -46    +     549    +     139          622
 Other Federal Reserve assets                                38,597    -      45    +     873       38,773
Gold stock                                                   11,043            0    -       1       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            34,723    +      14    +   1,071       34,723
       
Total factors supplying reserve funds                       752,379    -   3,406    +  66,707      753,728
                                                                   
Currency in circulation(5)                                  686,876    +   1,080    +  42,833      688,397
Reverse repurchase agreements (6)                            20,653    +   1,362    +  20,653       20,291
   Foreign official and international accounts               20,331    +   1,040    +  20,331       20,291
   Dealers                                                      321    +     321    +     321            0
Treasury cash holdings                                          353    -      17    -      47          357
Deposits with F.R.Banks, other than reserve balances         18,670    +   1,411    +   3,210       18,994       
  U.S. Treasury, general account                              6,528    +     874    +   1,520        6,872
  Foreign official                                              118    -       5    +      16          102
  Service-related                                            11,743    +     485    +   1,671       11,743
     Required clearing balances                              10,820    -     152    +   1,001       10,820
     Adjustments to compensate for float                        923    +     638    +     670          923
  Other                                                         281    +      56    +       3          277
Other liabilities and capital                                19,860    -     103    +   1,128       19,616

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  746,412    +   3,733    +  67,778      747,654

Reserve balances with Federal Reserve Banks                   5,967    -   7,139    -   1,071        6,074
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)           898,566    +   1,504     ------        898,299
     U.S. Treasury                                          720,582    +   2,996     ------        719,571
     Federal agency                                         177,984    -   1,492     ------        178,728
  Securities lent to dealers                                    316    -   1,551    -     382          972   


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  Apr 9, 2003      Apr 2, 2003     Apr 10, 2002

Assets
Gold certificate account                                        11,038                0        -       6
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,078        -      14        +      42
Securities, repurchase agreements, and loans                   666,367        -   5,631        +  65,823
   Securities held outright                                    645,084        +   3,602        +  67,588
      U.S. Treasury (1)                                        645,074        +   3,602        +  67,588       
         Bills (2)                                             235,550        +   2,842        +  42,473
         Notes and bonds, nominal (2)                          395,354        +     733        +  22,570
         Notes and bonds, inflation-indexed (2)                 12,814                0        +   2,156
         Inflation compensation (3)                              1,355        +      26        +     388
      Federal agency (2)                                            10                0                0
   Repurchase agreements (4)                                    21,250        -   9,250        -   1,750    
   Loans                                                            33        +      18        -      16
Items in process of collection                    (1,150)        9,043        +     667        +   1,055
Bank premises                                                    1,558        +       1        +      45
Other assets (5)                                                37,496        +     350        +   1,259
      Total assets                                (1,150)      728,780        -   4,627        +  68,218
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  655,104        +     744        +  42,397
Reverse repurchase agreements (6)                               20,291        +     562        +  20,291
Deposits                                              (0)       25,309        -   5,274        +   3,921       
  Depository institutions                                       18,058        -   5,946        +   1,989
  U.S. Treasury, general account                                 6,872        +     673        +   2,089
  Foreign official                                                 102        -       1        -     167
  Other                                               (0)          277                0        +      10
Deferred availability cash items                  (1,150)        8,460        -     554        +     588
Other liabilities and accrued dividends (7)                      2,264        +      46        -     199
      Total liabilities                           (1,150)      711,427        -   4,477        +  66,997
                          
Capital Accounts
Capital paid in                                                  8,521        +       7        +     514
Surplus                                                          8,380                0        +   1,106
Other capital accounts                                             452        -     157        -     398
      Total capital                                             17,352        -     151        +   1,220


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,      April 9, 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              26       39,537   +   1,776            0           0       17,250       20,291
16 days to 90 days           8      139,581   -     186            0           0        4,000            0
91 days to 1 year            0      152,215   +   1,253           10           0     ------      ------
Over 1 to 5 years     ------        181,519   +     740            0           0     ------      ------
Over 5 to 10 years    ------         52,301   +       8            0           0     ------      ------
Over 10 years         ------         79,921   +      10            0           0     ------      ------
                   		 	
All                         33      645,074   +   3,602           10           0       21,250      20,291

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      April 9, 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                      11,038        495      4,705        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                                           1,078         50         39         80         44        147        100        136         62         42         71        169        136
Securities, repurchase agreements,
      and loans                              666,367     31,191    297,237     20,168     30,227     49,609     43,579     65,187     20,302     14,407     17,339     25,282     51,839
   Securities held outright                  645,084     31,187    275,987     20,168     30,227     49,609     43,579     65,186     20,295     14,399     17,336     25,281     51,829
      U.S. Treasury (1)                      645,074     31,186    275,983     20,168     30,227     49,608     43,579     65,185     20,295     14,399     17,336     25,280     51,828
         Bills (2)                           235,550     11,388    100,776      7,364     11,037     18,115     15,913     23,802      7,411      5,258      6,330      9,231     18,925
         Notes and bonds(3)                  409,523     19,799    175,207     12,803     19,189     31,494     27,666     41,382     12,884      9,141     11,006     16,049     32,903
         Federal agency (2)                       10          0          4          0          0          1          1          1          0          0          0          0          1
      Repurchase agreements(4)                21,250          0     21,250          0          0          0          0          0          0          0          0          0          0
      Loans                                       33          4          0          0          0          0          0          1          7          7          3          2         10
Items in process of collection                10,193        523        764        801        736        816        774        632        430        645        591        582      2,900
Bank premises                                  1,558         91        185         50        152        144        278        117         44        126         51        144        176
Other assets(5)                               37,496      1,732     13,679      1,076      2,297      5,756      2,197      3,491        970      1,101        900      1,105      3,192
Interdistrict settlement account                   0    - 2,435    +17,859    - 2,632    - 2,665    - 2,357    - 3,841    - 7,658    - 1,459    -   683    -   163    + 2,797    + 3,237
          Total Assets                       729,929     31,761    335,344     20,006     31,371     55,069     44,115     63,098     20,752     15,892     19,158     30,685     62,678

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      April 9, 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             764,965     32,270    338,293     24,647     31,645     53,964     59,339     62,974     22,065     15,067     21,322     35,336     68,043
  Less: notes held by F.R. Banks              109,861      4,747     27,964      7,347      4,411      8,628     20,037      7,178      3,394      1,344      4,323      7,058     13,430
    Federal Reserve notes, net                655,104     27,522    310,329     17,299     27,234     45,336     39,302     55,797     18,672     13,723     16,999     28,277     54,612
Reverse repurchase agreements (1)              20,291        981      8,681        634        951      1,560      1,371      2,050        638        453        545        795      1,630
Deposits                                       25,309      1,606     10,647        789      1,076      3,073      1,348      2,532        592        489        717        627      1,813
  Depository institutions                      18,058      1,603      3,539        787      1,073      2,955      1,346      2,529        587        487        715        626      1,810
  U.S. Treasury, general account                6,872          0      6,872          0          0          0          0          0          0          0          0          0          0
  Foreign official                                102          2         79          1          3          7          2          3          1          1          1          1          3
  Other                                           277          1        158          0          0        111          0          0          5          0          1          1          0
Deferred availability cash items                9,609        617      1,061        678        572        707        939        715        336        449        391        495      2,650
Other liabilities and accrued                 
  dividends (2)                                 2,264        130        713         94        123        248        183        222         97         86         86        105        176
   
    Total liabilities                         712,577     30,857    331,431     19,494     29,956     50,924     43,143     61,316     20,335     15,200     18,738     30,300     60,882
                              
Capital                    
Capital paid in                                 8,521        444      1,877        251        700      2,069        476        874        206        345        204        189        887
Surplus                                         8,380        436      1,809        233        702      2,073        475        858        199        340        201        186        868
Other capital                                     452         24        226         28         13          3         22         51         13          7         15         10         40
     Total liabilities and capital            729,929     31,761    335,344     20,006     31,371     55,069     44,115     63,098     20,752     15,892     19,158     30,685     62,678
                              

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
                                           Apr 9, 2003
              
Federal Reserve notes, net of F.R. 
 Bank holdings                                655,104 
Collateral held against Federal Reserve            
   notes                                      655,104
   Gold certificate account                    11,038
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              641,865
   Other eligible assets                            0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         666,334
   Less:face value of securities under
         reverse repurchase agreements         20,299
      U.S. Treasury and agency securities
             eligible to be pledged           646,035
   

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.`

Statistical releases

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