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Federal Reserve Bulletin, July, 2003
1.14 FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
Primary credit (1)
Federal Reserve On
Bank 6/9/03 Effective date Previous rate
Boston 2.25 1/9/03 n/a
New York 2.25 1/9/03 n/a
Philadelphia 2.25 1/9/03 n/a
Cleveland 2.25 1/9/03 n/a
Richmond 2.25 1/9/03 n/a
Atlanta 2.25 1/9/03 n/a
Chicago 2.25 1/9/03 n/a
St. Louis 2.25 1/9/03 n/a
Minneapolis 2.25 1/9/03 n/a
Kansas City 2.25 1/9/03 n/a
Dallas 2.25 1/9/03 n/a
San Francisco 2.25 1/9/03 n/a
Current and previous levels
Secondary credit (2)
Federal Reserve On
Bank 6/9/03 Effective date Previous rate
Boston 2.75 1/9/03 n/a
New York 2.75 1/9/03 n/a
Philadelphia 2.75 1/9/03 n/a
Cleveland 2.75 1/9/03 n/a
Richmond 2.75 1/9/03 n/a
Atlanta 2.75 1/9/03 n/a
Chicago 2.75 1/9/03 n/a
St. Louis 2.75 1/9/03 n/a
Minneapolis 2.75 1/9/03 n/a
Kansas City 2.75 1/9/03 n/a
Dallas 2.75 1/9/03 n/a
San Francisco 2.75 1/9/03 n/a
Current and previous levels
Seasonal credit (3)
Federal Reserve On
Bank 6/9/03 Effective date Previous rate
Boston 1.25 4/3/03 1.20
New York 1.25 4/3/03 1.20
Philadelphia 1.25 4/3/03 1.20
Cleveland 1.25 4/3/03 1.20
Richmond 1.25 4/3/03 1.20
Atlanta 1.25 4/3/03 1.20
Chicago 1.25 4/3/03 1.20
St. Louis 1.25 4/3/03 1.20
Minneapolis 1.25 4/3/03 1.20
Kansas City 1.25 4/3/03 1.20
Dallas 1.25 4/3/03 1.20
San Francisco 1.25 4/3/03 1.20
Range of rates for primary credit
Range (or F.R. Bank
Effective date level)--All of Effective date
F.R. Banks N.Y.
In effect Jan. 9, 2003 2.25 2.25
(beginning of program)
Range of rates for primary credit
Range (or F.R. Bank
Effective date level)--All of Effective date
F.R. Banks N.Y.
Range of rates for primary credit
Range (or F.R. Bank
Effective date level)--All of
F.R. Banks N.Y.
Range of rates for adjustment
credit in recent years (4)
Range (or F.R. Bank
Effective date level)--All of
F.R. Banks N.Y.
In effect Dec. 31, 1995 5.25 5.25
1996--Jan. 31 5.00-5.25 5.00
Feb. 3 5.00 5.00
1998--Oct. 15 4.75-5.00 4.75
16 4.75 4.75
Nov. 17 4.50-4.75 4.50
19 4.50 4.50
1999--Aug. 24 4.50-4.75 4.75
26 4.75 4.75
Nov. 16 4.75-5.00 4.75
18 5.00 5.00
Range of rates for adjustment
credit in recent years (4)
Range (or F.R. Bank
Effective date level)--All of
F.R. Banks N.Y.
2000--Feb. 2 5.00-5.25 5.25
4 5.25 5.25
Mar. 21 5.25-5.50 5.50
23 5.50 5.50
May 16 5.50-4.00 5.50
19 6.00 6.00
2001--Jan. 3 5.75-6.00 5.75
4 5.50-5.75 5.50
5 5.50 5.50
31 5.00-5.50 5.00
Feb. 1 5.00 5.00
Mar. 20 4.50-5.00 4.50
21 4.50 4.50
Apr. 18 4.00-4.50 4.00
20 4.00 4.00
2001--May 15 3.50-4.00 3.50
17 3.50 3.50
Range of rates for adjustment credit
in recent years (4)
Range (or F.R. Bank
Effective date level)--All of
F.R. Banks N.Y.
2001--June 27 3.25-3.50 3.25
29 3.25 3.25
Aug. 21 3.00-3.25 3.00
23 3.00 3.00
Sept. 17 2.50-3.00 2.50
18 2.50 2.50
Oct. 2 2.00-2.50 2.00
4 2.00 2.00
Nov. 6 1.50-2.00 1.50
8 1.50 1.50
Dec. 11 1.25-1.50 1.25
13 1.25 1.25
2002--Nov. 6 0.75-1.25 0.75
7 0.75 0.75
In effect Jan. 8, 0.75 0.75
2003 (end of
program)
(1.) Available for very short terms as a backup source of liquidity
to depository institutions that are in generally sound financial
condition in the judgment of the lending Federal Reserve Bank.
(2.) Available in appropriate circumstances to depository institutions
that do not qualify for primary credit.
(3.) Incorrect data were published in the June 2003 issue of the
Federal Reserve Bulletin. The correct data are shown below. Seasonal
credit is available to help relatively small depository institutions
meet regular seasonal needs for funds that arise from a clear pattern
of intrayearly movements in their deposits and loans and that cannot
be met through special industry lenders. The discount rate on seasonal
credit takes into account rates charged by market sources of funds
and ordinarily is reestablished on the first business day of each
two-week reserve maintenance period.
(4.) Was available until January 8, 2003, to help depository
institutions meet temporary needs for funds that could not be met
through reasonable alternative sources. For earlier data, see the
following publications of the Board of Governors: Banking and
Monetary Statistics, 1914-1941, and 1941-1970; and the Statistical
Digest, 1970-1979, 1980-1989, and 1990-1995. See also the Board's
Statistics: Releases and Historical Data web pages
(http://www.federalreserve.gov/releases/H15/data.htm).
1.15 RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (1)
Requirement
Percentage of
Type of deposit deposits Effective date
Net transaction accounts (2)
1 $0 million-$6 million (3) 0 12/26/02
2 More than $6 million-$42.1
million (4) 3 12/26/02
3 More than $42.1 million (5) 10 12/26/02
4 Nonpersonal time deposits (6) 0 12/27/90
5 Eurocurrency liabilities (7) 0 12/27/90
(1.) Required reserves must be held in the form of deposits with
Federal Reserve Banks or vault cash. Nonmember institutions may
maintain reserve balances with a Federal Reserve Bank indirectly, on
a pass-through basis, with certain approved institutions. For previous
reserve requirements, see earlier editions of the Annual Report or
the Federal Reserve Bulletin. Under the Monetary Control Act of 1980,
depository institutions include commercial banks, savings banks,
savings and loan associations, credit unions, agencies and branches of
foreign banks, and Edge Act corporations.
(2.) Transaction accounts include all deposits against which the
account holder is permitted to make withdrawals by negotiable or
transferable instruments, payment orders of withdrawal, or telephone
or preauthorized transfers for the purpose of making payments to third
persons or others. However, accounts subject to the rules that permit
no more than six preauthorized, automatic, or other transfers per
month (of which no more than three may be by check, draft, debit card,
or similar order payable directly to third parties) are savings
deposits, not transaction accounts.
(3.) Under the Garn-St Oermain Depository Institutions Act of 1982,
the Board adjusts the amount of reservable liabilities subject to a
zero percent reserve requirement each year for the succeeding calendar
year by 80 percent of the percentage increase in the total reservable
liabilities of all depository institutions, measured on an annual
basis as of June 30. No corresponding adjustment is made in the event
of a decrease. The exemption applies only to accounts that would be
subject to a 3 percent reserve requirement. Effective with the reserve
maintenance period beginning December 26, 2002, for depository
institutions that report weekly, and with the period beginning January
16, 2003, for institutions that report quarterly, the exemption was
raised from $5.7 million to $6.0 million.
(4.) The Monetary Control Act of 1980 requires that the amount of
transaction accounts against which the 3 percent reserve requirement
applies be modified annually by 80 percent of the percentage change
in transaction accounts held by all depository institutions, determined
as of June 30 of each year. Effective with the reserve maintenance
period beginning December 26, 2002, for depository institutions that
report weekly, and with the period beginning January 16, 2003, for
institutions that report quarterly, the amount was increased from
$41.3 million to $42.1 million.
(5.) The reserve requirement was reduced from 12 percent to 10 percent
on April 2, 1992, for institutions that report weekly, and on April
16, 1992, for institutions that report quarterly.
(6.) For institutions that report weekly, the reserve requirement on
nonpersonal time deposits with an original maturity of less than 1.5
years was reduced from 3 percent to 1.5 percent for the maintenance
period that began December 13, 1990, and to zero for the maintenance
period that began December 27, 1990. For institutions that report
quarterly, the reserve requirement on nonpersonal time deposits with
an original maturity of less than 1.5 years was reduced from 3 percent
to zero on January 17, 1991.
The reserve requirement on nonpersonal time deposits with an original
maturity of 1.5 years or more has been zero since October 6, 1983.
(7.) The reserve requirement on eurocurrency liabilities was reduced
from 3 percent to zero in the same manner and on the same dates as
the reserve requirement on nonpersonal time deposits with an original
maturity of less than 1.5 years (see note 5).
1.17 FEDERAL RESERVE OPEN MARKET TRANSACTIONS (1)
Millions of dollars
Type of transaction
and maturity 2000 2001
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasury bills
1 Gross purchases 8,676 15,503
2 Gross sales 0 0
3 Exchanges 477,904 542,736
4 For new bills 477,904 542,736
5 Redemptions 24,522 10,095
Others within one year
6 Gross purchases 8,809 15,663
7 Gross sales 0 0
8 Maturity shifts 62,025 70,336
9 Exchanges -54,656 -72,004
10 Redemptions 3,779 16,802
One to five years
11 Gross purchases 14,482 22,814
12 Gross sales 0 0
13 Maturity shifts -52,068 -45,211
14 Exchanges 46,177 64,519
Five to ten years
15 Gross purchases 5,871 6,003
16 Gross sales 0 0
17 Maturity shifts -6,801 -21,063
18 Exchanges 6,585 6,063
More than ten years
19 Gross purchases 5,833 8,531
20 Gross sales 0 0
21 Maturity shifts -3,155 -4,062
22 Exchanges 1,894 1,423
All maturities
23 Gross purchases 43,670 68,513
24 Gross sales 0 0
25 Redemptions 28,301 26,897
26 Net change in U.S. Treasury
securities 15,369 (r) 41,616 (r)
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0 (r) 0 (r)
28 Gross sales 0 0
29 Redemptions 51 (r) 120 (r)
30 Net change in federal agency
obligations -51 (r) 120 (r)
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 890,236 (r) 1,497,713 (r)
32 Gross sales 987,501 (r) 1,490,838 (r)
Matched sale-purchase agreements
33 Gross purchases 4,415,905 (r) 4,722,667 (r)
34 Gross sales 4,397,835 (r) 4,724,743 (r)
Reverse repurchase agreements (4)
35 Gross purchases 0 (r) 0 (r)
36 Gross sales 0 0
37 Net change in temporary
transactions -79,195 (r) 4,800 (r)
38 Total net change in System Open
Market Account 63,877 (r) 46,295 (r)
2002 2002
Type of transaction
and maturity Sept.
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasury bills
1 Gross purchases 21,421 750
2 Gross sales 0 0
3 Exchanges 657,931 53,314
4 For new bills 657,931 53,314
5 Redemptions 0 0
Others within one year
6 Gross purchases 12,720 1,286
7 Gross sales 0 0
8 Maturity shifts 89,108 11,174
9 Exchanges -92,075 -15,189
10 Redemptions 0 0
One to five years
11 Gross purchases 12,748 0
12 Gross sales 0 0
13 Maturity shifts -73,093 -11,174
14 Exchanges 88,276 15,189
Five to ten years
15 Gross purchases 5,074 51
16 Gross sales 0 0
17 Maturity shifts -11,588 0
18 Exchanges 3,800 0
More than ten years
19 Gross purchases 2,280 0
20 Gross sales 0 0
21 Maturity shifts -4,427 0
22 Exchanges 0 0
All maturities
23 Gross purchases 54,242 2,087
24 Gross sales 0 0
25 Redemptions 0 0
26 Net change in U.S. Treasury
securities 54,242 (r) 2,087 (r)
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0 (r) 0 (r)
28 Gross sales 0 0
29 Redemptions 0 0
30 Net change in federal agency
obligations 0 (r) 0
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 1,143,126 (r) 93,500 (r)
32 Gross sales 1,153,876 (r) 94,750 (r)
Matched sale-purchase agreements
33 Gross purchases 4,981,624 (r) 449,250 (r)
34 Gross sales 4,958,437 (r) 449,986 (r)
Reverse repurchase agreements (4)
35 Gross purchases 231,272 (r) 0
36 Gross sales 252,363 (r) 0
37 Net change in temporary
transactions -8,653 (r) -1,986 (r)
38 Total net change in System Open
Market Account 45,589 (r) 101 (r)
2002
Type of transaction
and maturity Oct. Nov.
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasury bills
1 Gross purchases 0 250
2 Gross sales 0 0
3 Exchanges 62,947 51,394
4 For new bills 62,947 51,394
5 Redemptions 0 0
Others within one year
6 Gross purchases 0 0
7 Gross sales 0 0
8 Maturity shifts 6,143 3,688
9 Exchanges -5,435 -1,419
10 Redemptions 0 0
One to five years
11 Gross purchases 0 0
12 Gross sales 0 0
13 Maturity shifts -6,143 -2,380
14 Exchanges 5,435 1,308
Five to ten years
15 Gross purchases 0 0
16 Gross sales 0 0
17 Maturity shifts 0 722
18 Exchanges 0 111
More than ten years
19 Gross purchases 0 0
20 Gross sales 0 0
21 Maturity shifts 0 -2,030
22 Exchanges 0 0
All maturities
23 Gross purchases 0 250
24 Gross sales 0 0
25 Redemptions 0 0
26 Net change in U.S. Treasury
securities 0 (r) 250 (r)
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0 (r) 0 (r)
28 Gross sales 0 0
29 Redemptions 0 0
30 Net change in federal agency
obligations 0 0
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 72,000 (r) 113,501 (r)
32 Gross sales 77,250 (r) 101,501 (r)
Matched sale-purchase agreements
33 Gross purchases 429,029 (r) 378,381 (r)
34 Gross sales 425,399 (r) 377,535 (r)
Reverse repurchase agreements (4)
35 Gross purchases 0 0
36 Gross sales 0 0
37 Net change in temporary
transactions -1,620 (r) 12,847 (r)
38 Total net change in System Open
Market Account -1,620 (r) 13,096 (r)
2002 2003
Type of transaction
and maturity Dec. Jan.
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasury bills
1 Gross purchases 0 0
2 Gross sales 0 0
3 Exchanges 53,374 71,075
4 For new bills 53,374 71,075
5 Redemptions 0 0
Others within one year
6 Gross purchases 0 0
7 Gross sales 0 0
8 Maturity shifts 13,448 6,216
9 Exchanges -12,059 -6,834
10 Redemptions 0 0
One to five years
11 Gross purchases 339 0
12 Gross sales 0 0
13 Maturity shifts -13,448 -6,216
14 Exchanges 12,059 6,834
Five to ten years
15 Gross purchases 314 0
16 Gross sales 0 0
17 Maturity shifts 0 0
18 Exchanges 0 0
More than ten years
19 Gross purchases 0 0
20 Gross sales 0 0
21 Maturity shifts 0 0
22 Exchanges 0 0
All maturities
23 Gross purchases 653 0
24 Gross sales 0 0
25 Redemptions 0 0
26 Net change in U.S. Treasury
securities 653 (r) 0
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0 (r) 0
28 Gross sales 0 0
29 Redemptions 0 0
30 Net change in federal agency
obligations 0 0 (r)
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 112,750 (r) 135,749 (r)
32 Gross sales 101,750 (r) 150,499 (r)
Matched sale-purchase agreements
33 Gross purchases 195,565 (r) 0
34 Gross sales 175,820 (r) 0
Reverse repurchase agreements (4)
35 Gross purchases 231,272 (r) 392,530 (r)
36 Gross sales 252,363 (r) 389,810 (r)
37 Net change in temporary
transactions 9,654 (r) -12,029 (r)
38 Total net change in System Open
Market Account 10,307 (r) -12,029 (r)
2003
Type of transaction
and maturity Feb. Mar.
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasury bills
1 Gross purchases 4,161 1,863
2 Gross sales 0 0
3 Exchanges 53,860 47,424
4 For new bills 53,860 47,424
5 Redemptions 0 0
Others within one year
6 Gross purchases 478 1,318
7 Gross sales 0 0
8 Maturity shifts 3,214 8,334
9 Exchanges -13,313 -8,211
10 Redemptions 0 0
One to five years
11 Gross purchases 2,127 710
12 Gross sales 0 0
13 Maturity shifts 2,160 -8,334
14 Exchanges 11,817 8,211
Five to ten years
15 Gross purchases 769 522
16 Gross sales 0 0
17 Maturity shifts -3,877 0
18 Exchanges 1,497 0
More than ten years
19 Gross purchases 0 50
20 Gross sales 0 0
21 Maturity shifts -1,497 0
22 Exchanges 0 0
All maturities
23 Gross purchases 7,534 4,463
24 Gross sales 0 0
25 Redemptions 0 0
26 Net change in U.S. Treasury
securities 7,534 (r) 4,463
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0 0
28 Gross sales 0 0
29 Redemptions 0 0
30 Net change in federal agency
obligations 0 (r) 0
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 121,896 (r) 95,001
32 Gross sales 119,746 (r) 90,151
Matched sale-purchase agreements
33 Gross purchases 0 0
34 Gross sales 0 0
Reverse repurchase agreements (4)
35 Gross purchases 343,748 (r) 388,069
36 Gross sales 343,395 (r) 389,469
37 Net change in temporary
transactions 2 (r) 2,200
38 Total net change in System Open
Market Account 7,537 (r) 6,664
(1.) Sales, redemptions, and negative figures reduce holdings of
the System Open Market Account; all other figures increase such
holdings.
(2.) Transactions exclude changes in compensation for the effects
of inflation on the principal of inflation-indexed securities.
Transactions include the rollover of inflation compensation
into new securities.
(3.) Cash value of agreements, which are collateralized by U.S.
government and federal agency obligations.
(4.) Cash value of agreements, which are collateralized by U.S.
Treasury securities.
1.18 FEDERAL RESERVE BANKS Condition and Federal Reserve
Note Statements (1)
Millions of dollars
Wednesday
2003
Account Apr. 2 Apr. 9 Apr. 16 Apr. 23
Consolidated condition statement
1 Gold certificate account 11,038 11,038 11,038 11,038
2 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
3 Coin 1,092 1,078 1,056 1,043
4 Securities, repurchase
agreements, and loans 671,998 666,367 684,841 671,431
5 Securities held outright 641,482 645,084 646,795 646,901
6 U.S. Treasury (2) 641,472 645,074 646,785 646,891
7 Bills (3) 232,708 235,550 235,814 235,895
8 Notes and bonds,
nominal (3) 394,621 395,354 396,776 396,776
9 Notes and bonds,
inflation-indexed
(3) 12,814 12,814 12,814 12,814
10 Inflation compensation
(4) 1,329 1,355 1,380 1,406
11 Federal agency (3) 10 10 10 10
12 Repurchase agreements (5) 30,500 21,250 38,000 24,500
13 Loans 15 33 46 30
14 Items in process of
collection 8,376 9,043 8,284 7,589
15 Bank premises 1,557 1,558 1,559 1,560
16 Other assets 37,146 37,496 37,802 38,296
17 Denominated in foreign
currencies (6) 17,195 17,072 17,239 17,292
18 All other (7) 19,951 20,424 20,562 21,004
19 Total assets 733,407 728,780 746,781 733,157
LIABILITIES
20 Federal Reserve notes, net
of F.R. Bank holdings 654,360 655,104 655,512 655,025
21 Reverse repurchase
agreements (8) 19,729 20,291 19,801 19,991
22 Deposits 30,583 25,309 42,795 30,369
23 Depository institutions 24,004 18,058 33,637 20,745
24 U.S. Treasury, general
account 6,199 6,872 8,821 9,285
25 Foreign official 103 102 101 105
26 Other 277 277 236 234
27 Deferred availability cash
items 9,014 8,460 8,803 7,968
28 Other liabilities and
accrued dividends (9) 2,218 2,264 2,239 2,275
29 Total liabilities 715,904 711,427 729,149 715,628
CAPITAL ACCOUNTS
30 Capital paid in 8,514 8,521 8,522 8,526
31 Surplus 8,380 8,380 8,380 8,380
32 Other capital accounts 609 452 729 623
33 Total capital 17,503 17,352 17,632 17,529
MEMO
34 Marketable securities held
in custody for foreign
official and
international accounts
(3,10) 900,133 898,299 892,976 888,763
35 U.S. Treasury 721,059 719,571 717,312 713,171
36 Federal agency 179,074 178,728 175,665 175,591
Federal Reserve note and
collateral statement
37 Federal Reserve notes, net
of F.R. Bank holdings 654,360 655,104 655,512 655,025
38 Collateral held against
Federal Reserve notes 654,360 655,104 655,512 655,025
39 Gold certificate account 11,038 11,038 11,038 11,038
40 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
41 U.S. Treasury and agency
securities pledged (11) 641,122 641,865 642,274 641,787
42 Other eligible assets 0 0 0 0
MEMO
43 Total U.S. Treasury and
agency securities (11) 671,982 666,334 684,795 671,401
44 Less: face value of
securities under reverse
repurchase agreements
(12) 19,736 20,299 19,807 19,997
45 U.S. Treasury and agency
securities eligible to be
pledged 652,247 646,035 664,988 651,404
Wednes-
day End of month
2003 2003
Consolidated condition statement
Account Apr. 30 Feb. Mar. Apr.
1 Gold certificate account 11,039 11,039 11,038 11,039
2 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
3 Coin 1,021 1,104 1,106 1,021
4 Securities, repurchase
agreements, and loans 684,817 663,826 673,253 684,817
5 Securities held outright 647,281 636,921 641,474 647,281
6 U.S. Treasury (2) 647,271 636,911 641,464 647,271
7 Bills (3) 236,249 230,843 232,706 236,249
8 Notes and bonds,
nominal (3) 396,776 392,593 394,621 396,776
9 Notes and bonds,
inflation-indexed
(3) 12,814 12,242 12,814 12,814
10 Inflation compensation
(4) 1,431 1,233 1,322 1,431
11 Federal agency (3) 10 10 10 10
12 Repurchase agreements (5) 37,501 26,900 31,750 37,501
13 Loans 35 5 30 35
14 Items in process of
collection 8,173 6,051 2,129 8,173
15 Bank premises 1,577 1,554 1,557 1,577
16 Other assets 38,412 35,745 37,190 38,412
17 Denominated in foreign
currencies (6) 17,579 17,246 17,383 17,579
18 All other (7) 20,832 18,499 19,807 20,832
19 Total assets 747,239 721,519 728,474 747,239
LIABILITIES
20 Federal Reserve notes, net
of F.R. Bank holdings 655,226 648,366 652,467 655,226
21 Reverse repurchase
agreements (8) 20,814 18,018 19,418 20,814
22 Deposits 43,007 29,446 33,998 43,007
23 Depository institutions 31,880 24,761 26,787 31,880
24 U.S. Treasury, general
account 10,583 4,268 6,746 10,583
25 Foreign official 313 224 254 313
26 Other 231 193 211 231
27 Deferred availability cash
items 8,142 5,950 2,362 8,142
28 Other liabilities and
accrued dividends (9) 2,270 2,277 2,232 2,270
29 Total liabilities 729,460 704,057 710,476 729,460
CAPITAL ACCOUNTS
30 Capital paid in 8,545 8,456 8,505 8,545
31 Surplus 8,380 8,380 8,380 8,380
32 Other capital accounts 854 626 1,113 854
33 Total capital 17,779 17,462 17,998 17,779
MEMO
34 Marketable securities held
in custody for foreign
official and
international accounts
(3,10) 893,534 888,946 901,060 893,534
35 U.S. Treasury 713,499 710,187 720,666 713,499
36 Federal agency 180,035 178,759 180,393 180,035
Federal Reserve note and
collateral statement
37 Federal Reserve notes, net
of F.R. Bank holdings 655,226 648,366 652,467 655,226
38 Collateral held against
Federal Reserve notes 659,280 648,366 652,467 659,280
39 Gold certificate account 11,039 11,039 11,038 11,039
40 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
41 U.S. Treasury and agency
securities pledged (11) 646,042 635,128 639,229 646,042
42 Other eligible assets 0 0 0 0
MEMO
43 Total U.S. Treasury and
agency securities (11) 684,782 663,821 673,224 684,782
44 Less: face value of
securities under reverse
repurchase agreements
(12) 20,821 18,028 19,425 20,821
45 U.S. Treasury and agency
securities eligible to be
pledged 663,961 645,794 653,798 663,961
(1.) Some of the data in this table also appear in the Board's H.4.1
(503) weekly statistical release. For ordering address, see inside
front cover.
(2.) Includes securities lent to dealers, which are fully
collateralized by other U.S. Treasury securities.
(3.) Face value of the securities.
(4.) Compensation that adjusts for the effect of inflation on the
original face value of inflation-indexed securities.
(5.) Cash value of agreements, which are fully collateralized
by U.S. Treasury and federal agency securities.
(6.) Valued daily at market exchange rates.
(7.) Includes special investment account at the Federal Reserve Bank
of Chicago in Treasury bills maturing within ninety days.
(8.) Cash value of agreements, which are fully collateralized
by U.S. Treasury securities.
(9.) Includes exchange-translation account reflecting the daily
revaluation at market exchange rates of foreign exchange commitments.
(10.) Includes U.S. Treasury STRIPS and other zero coupon bonds at
face value.
(11.) 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.
(12.) Face value of agreements, which are fully collateralized
by U.S. Treasury securities.
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