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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
                                                                                          February 13, 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           Feb 12, 2003  Feb 5, 2003 Feb 13, 2002 Feb 12, 2003
Federal Reserve Banks

Reserve Bank Credit                                         691,408    -   3,074    +  63,591      691,740
 Securities held outright                                   629,951    +     536    +  67,295      630,957       
    U.S. Treasury (1)                                       629,941    +     536    +  67,295      630,947
       Bills (2)                                            226,941    +     259    +  38,651      227,238
       Notes and bonds, nominal (2)                         389,504    +     285    +  26,261      390,217
       Notes and bonds, inflation-indexed (2)                12,242            0    +   2,056       12,242
       Inflation compensation (3)                             1,253    -       8    +     325        1,250
    Federal agency (2)                                           10            0            0           10      
 Repurchase agreements(4)                                    19,285    -   5,108    -   7,179       20,746
 Loans to depository institutions                                31    +      16    -      24            4
    Primary credit                                               28    +      17    +      28            0
    Secondary credit                                              0            0            0            0
    Seasonal credit                                               3    -       1    -      21            4
    Adjustment credit                                             0            0    -      31            0
 Float                                                        1,708    +   1,123    +   1,699         -507
 Other Federal Reserve assets                                40,434    +     360    +   1,801       40,539
Gold stock                                                   11,043            0    -       1       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            34,612    +      14    +   1,122       34,612
       
Total factors supplying reserve funds                       739,263    -   3,059    +  64,711      739,594
                                                                   
Currency in circulation(5)                                  678,441    +   2,663    +  43,424      681,197
Reverse repurchase agreements (6)                            18,949    +     466    +  18,949       17,604
   Foreign official and international accounts               17,878    -     605    +  17,878       17,604
   Dealers                                                    1,071    +   1,071    +   1,071            0
Treasury cash holdings                                          356    -       4    -      52          360
Deposits with F.R.Banks, other than reserve balances         15,954    -     502    +   1,067       14,777       
  U.S. Treasury, general account                              4,681    -     711    -     295        3,527
  Foreign official                                              115    +       7    -     199          103
  Service-related                                            10,918    +     194    +   1,542       10,918
     Required clearing balances                              10,317    -      39    +   1,503       10,317
     Adjustments to compensate for float                        601    +     233    +      39          601
  Other                                                         239    +       7    +      17          228
Other liabilities and capital                                19,450    -      63    +   1,735       19,265

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  733,150    +   2,560    +  65,123      733,202

Reserve balances with Federal Reserve Banks                   6,113    -   5,619    -     412        6,392
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)           869,911    +   4,545     ------        872,033
     U.S. Treasury                                          697,819    +   1,819     ------        698,215
     Federal agency                                         172,092    +   2,725     ------        173,818
  Securities lent to dealers                                    987    +     579    -     668        1,513   


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 Feb 12, 2003      Feb 5, 2003     Feb 13, 2002

Assets
Gold certificate account                                        11,039                0        -       5
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,142        +       8        -      27
Securities, repurchase agreements, and loans                   651,707        -   5,470        +  61,859
   Securities held outright                                    630,957        +   1,546        +  66,630
      U.S. Treasury (1)                                        630,947        +   1,546        +  66,630       
         Bills (2)                                             227,238        +     556        +  38,108
         Notes and bonds, nominal (2)                          390,217        +     998        +  26,139
         Notes and bonds, inflation-indexed (2)                 12,242                0        +   2,056
         Inflation compensation (3)                              1,250        -       7        +     327
      Federal agency (2)                                            10                0                0
   Repurchase agreements (4)                                    20,746        -   7,004        -   4,754    
   Loans                                                             4        -      11        -      17
Items in process of collection                    (1,265)        7,829        -   1,130        +     795
Bank premises                                                    1,541        +       2        +      30
Other assets (5)                                                38,833        +     222        +   1,473
      Total assets                                (1,265)      714,292        -   6,367        +  64,125
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  648,083        +   3,203        +  42,590
Reverse repurchase agreements (6)                               17,604        -     382        +  17,604
Deposits                                              (0)       21,565        -   8,249        +   1,885       
  Depository institutions                                       17,707        -   6,049        +   2,703
  U.S. Treasury, general account                                 3,527        -   2,137        -     581
  Foreign official                                                 103        -      45        -     253
  Other                                               (0)          228        -      18        +      16
Deferred availability cash items                  (1,265)        7,775        -     929        +     383
Other liabilities and accrued dividends (7)                      2,277        +      46        -      61
      Total liabilities                           (1,265)      697,304        -   6,312        +  62,401
                          
Capital Accounts
Capital paid in                                                  8,404                0        +     962
Surplus                                                          8,357        -      23        +   1,087
Other capital accounts                                             227        -      33        -     325
      Total capital                                             16,988        -      55        +   1,724


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,  February 12, 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               0       44,507   -   1,474            0           0       15,746       17,604
16 days to 90 days           4      136,637   +   1,970            0           0        5,000            0
91 days to 1 year            0      142,780   +     537           10           0     ------      ------
Over 1 to 5 years     ------        175,832   +     398            0           0     ------      ------
Over 5 to 10 years    ------         51,356   +     117            0           0     ------      ------
Over 10 years         ------         79,834   -       3            0           0     ------      ------
                   		 	
All                          4      630,947   +   1,546           10           0       20,746      17,604

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  February 12, 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                      11,039        533      4,364        430        522        819        926      1,080        346        179        309        485      1,046
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                           1,142         55         40         70         53        164        125        150         65         41         77        177        127
Securities, repurchase agreements,
      and loans                              651,707     36,151    269,003     24,262     34,813     49,210     44,927     74,251     22,436      9,867     18,652     14,003     54,134
   Securities held outright                  630,957     36,150    248,257     24,262     34,813     49,210     44,927     74,251     22,435      9,863     18,651     14,003     54,134
      U.S. Treasury (1)                      630,947     36,150    248,253     24,262     34,812     49,209     44,926     74,250     22,435      9,863     18,651     14,003     54,133
         Bills (2)                           227,238     13,020     89,409      8,738     12,538     17,723     16,180     26,741      8,080      3,552      6,717      5,043     19,496
         Notes and bonds(3)                  403,709     23,130    158,844     15,524     22,275     31,486     28,746     47,509     14,355      6,311     11,934      8,960     34,637
         Federal agency (2)                       10          1          4          0          1          1          1          1          0          0          0          0          1
      Repurchase agreements(4)                20,746          0     20,746          0          0          0          0          0          0          0          0          0          0
      Loans                                        4          0          0          0          0          0          0          0          0          3          0          0          0
Items in process of collection                 9,095        462        874        459        626        611        871        934        362        291        514        322      2,767
Bank premises                                  1,541         92        186         50        152        129        279        116         44        126         50        142        176
Other assets(5)                               38,833      1,958     13,653      1,213      2,509      5,873      2,355      3,925      1,092      1,013        988        855      3,399
Interdistrict settlement account                   0    - 8,012    +39,060    - 7,179    - 6,803    - 3,526    - 4,923    -17,397    - 3,934    + 3,651    - 1,893    +14,003    - 3,046
          Total Assets                       715,557     31,353    328,052     19,388     31,976     53,427     44,726     63,271     20,482     15,198     18,762     30,086     58,837

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  February 12, 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             761,536     32,798    334,391     25,040     32,296     53,935     58,144     63,521     21,878     14,963     21,188     36,110     67,273
  Less: notes held by F.R. Banks              113,453      4,962     27,414      8,003      4,795      8,753     18,071      7,938      3,270      1,853      4,355      8,027     16,013
    Federal Reserve notes, net                648,083     27,836    306,977     17,036     27,501     45,183     40,073     55,583     18,608     13,110     16,832     28,083     51,260
Reverse repurchase agreements (1)              17,604      1,009      6,926        677        971      1,373      1,253      2,072        626        275        520        391      1,510
Deposits                                       21,565        783      8,673        548      1,443      1,878      1,359      2,965        445        460        536        667      1,808
  Depository institutions                      17,707        780      4,924        547      1,439      1,792      1,357      2,961        444        459        534        665      1,805
  U.S. Treasury, general account                3,527          0      3,527          0          0          0          0          0          0          0          0          0          0
  Foreign official                                103          2         79          1          3          7          2          3          1          1          1          1          3
  Other                                           228          1        142          0          1         79          0          1          1          0          1          1          0
Deferred availability cash items                9,040        701      1,051        546        512        606        890        665        291        597        369        481      2,332
Other liabilities and accrued                 
  dividends (2)                                 2,277        138        686        102        127        256        183        241        102         78         92         88        184
   
    Total liabilities                         698,569     30,466    324,313     18,909     30,555     49,295     43,760     61,526     20,073     14,520     18,350     29,708     57,094
                              
Capital                    
Capital paid in                                 8,404        437      1,809        234        708      2,080        475        861        200        341        204        188        868
Surplus                                         8,357        436      1,809        233        702      2,052        475        858        199        337        201        186        868
Other capital                                     227         13        121         12         11          0         16         27         10          0          9          3          7
     Total liabilities and capital            715,557     31,353    328,052     19,388     31,976     53,427     44,726     63,271     20,482     15,198     18,762     30,086     58,837
                              

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
                                          Feb 12, 2003
              
Federal Reserve notes, net of F.R. 
 Bank holdings                                648,083 
Collateral held against Federal Reserve            
   notes                                      648,083
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              634,094
   Other eligible assets                          751

Memo:
Total U.S. Treasury and agency 
       securities (1)                         651,703
   Less:face value of securities under
         reverse repurchase agreements         17,610
      U.S. Treasury and agency securities
             eligible to be pledged           634,094
   

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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