FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks April 15, 2004 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 14, 2004 Apr 7, 2004 Apr 16, 2003 Apr 14, 2004 Federal Reserve Banks Reserve Bank Credit 740,217 + 6,663 + 28,929 743,982 Securities held outright 674,520 + 319 + 28,851 674,717 U.S. Treasury (1) 674,520 + 319 + 28,861 674,717 Bills (2) 246,942 + 298 + 11,229 247,132 Notes and bonds, nominal (2) 411,388 0 + 15,628 411,388 Notes and bonds, inflation-indexed (2) 14,464 0 + 1,650 14,464 Inflation compensation (3) 1,725 + 20 + 354 1,733 Federal agency (2) 0 0 - 10 0 Repurchase agreements(4) 25,729 + 6,158 - 1,092 29,700 Loans to depository institutions 85 + 12 + 49 86 Primary credit 33 - 3 + 17 30 Secondary credit 0 0 0 0 Seasonal credit 52 + 15 + 32 56 Float -463 + 34 - 178 -776 Other Federal Reserve assets 40,347 + 142 + 1,301 40,255 Gold stock 11,045 0 + 2 11,045 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 35,685 + 14 + 841 35,685 Total factors supplying reserve funds 789,147 + 6,676 + 29,772 792,913 Currency in circulation(5) 717,499 + 1,356 + 29,865 718,780 Reverse repurchase agreements (6) 20,136 + 737 - 609 19,470 Foreign official and international accounts 20,136 + 737 - 609 19,470 Dealers 0 0 0 0 Treasury cash holdings 345 - 18 - 12 340 Deposits with F.R.Banks, other than reserve balances 16,146 + 127 - 1,665 15,905 U.S. Treasury, general account 5,158 + 148 - 1,312 4,902 Foreign official 83 - 10 - 37 85 Service-related 10,568 0 - 412 10,568 Required clearing balances 10,567 + 5 - 253 10,567 Adjustments to compensate for float 2 - 3 - 158 2 Other 338 - 10 + 97 350 Other liabilities and capital 20,556 - 275 + 615 20,316 Total factors, other than reserve balances, absorbing reserve funds 774,683 + 1,928 + 28,193 774,810 Reserve balances with Federal Reserve Banks 14,464 + 4,749 + 1,579 18,103 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,180,378 + 4,324 + 282,180 1,182,058 U.S. Treasury 949,575 + 7,935 + 229,519 951,963 Federal agency 230,803 - 3,612 + 52,660 230,096 Securities lent to dealers 959 - 985 + 509 2,236 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 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 14, 2004 Apr 7, 2004 Apr 16, 2003 Assets Gold certificate account 11,041 0 + 3 Special drawing rights certificate account 2,200 0 0 Coin 834 - 10 - 222 Securities, repurchase agreements, and loans 704,503 + 10,380 + 19,662 Securities held outright 674,717 + 423 + 27,922 U.S. Treasury (1) 674,717 + 423 + 27,932 Bills (2) 247,132 + 403 + 11,318 Notes and bonds, nominal (2) 411,388 0 + 14,612 Notes and bonds, inflation-indexed (2) 14,464 0 + 1,650 Inflation compensation (3) 1,733 + 20 + 353 Federal agency (2) 0 0 - 10 Repurchase agreements (4) 29,700 + 9,950 - 8,300 Loans 86 + 7 + 40 Items in process of collection (1,080) 5,721 - 639 - 2,563 Bank premises 1,662 + 4 + 103 Other assets (5) 38,644 - 90 + 842 Total assets (1,080) 764,605 + 9,645 + 17,824 Liabilities Federal Reserve notes net of FR Bank holdings 684,264 + 486 + 28,752 Reverse repurchase agreements (6) 19,470 + 398 - 331 Deposits (0) 34,058 + 9,176 - 8,737 Depository institutions 28,722 + 8,836 - 4,915 U.S. Treasury, general account 4,902 + 341 - 3,919 Foreign official 85 - 11 - 16 Other (0) 350 + 12 + 114 Deferred availability cash items (1,080) 6,497 - 203 - 2,306 Other liabilities and accrued dividends (7) 2,269 + 36 + 30 Total liabilities (1,080) 746,559 + 9,894 + 17,410 Capital Accounts Capital paid in 8,983 + 1 + 461 Surplus 8,767 - 80 + 387 Other capital accounts 296 - 170 - 433 Total capital 18,046 - 249 + 414 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 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 14, 2004 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 41 46,285 + 1,451 0 0 29,700 19,470 16 days to 90 days 46 155,706 - 489 0 0 0 0 91 days to 1 year 0 161,460 - 560 0 0 ------ ------ Over 1 to 5 years ------ 183,807 + 8 0 0 ------ ------ Over 5 to 10 years ------ 50,012 + 5 0 0 ------ ------ Over 10 years ------ 77,447 + 7 0 0 ------ ------ All 86 674,717 + 423 0 0 29,700 19,470 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 14, 2004 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 11,041 494 4,651 382 452 819 894 924 325 218 302 525 1,055 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 834 39 36 48 38 85 81 115 64 30 46 149 104 Securities, repurchase agreements, and loans 704,503 31,690 322,266 20,068 28,831 51,281 45,501 60,795 19,835 14,732 17,735 30,764 61,006 Securities held outright 674,717 31,683 292,566 20,068 28,831 51,281 45,501 60,777 19,823 14,716 17,730 30,764 60,976 U.S. Treasury (1) 674,717 31,683 292,566 20,068 28,831 51,281 45,501 60,777 19,823 14,716 17,730 30,764 60,976 Bills (2) 247,132 11,605 107,160 7,350 10,560 18,783 16,666 22,261 7,260 5,390 6,494 11,268 22,334 Notes and bonds(3) 427,585 20,078 185,406 12,717 18,271 32,498 28,835 38,516 12,562 9,326 11,236 19,496 38,642 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 29,700 0 29,700 0 0 0 0 0 0 0 0 0 0 Loans 86 7 0 0 0 0 0 17 13 15 5 0 30 Items in process of collection 6,801 393 322 423 398 637 661 425 286 365 501 338 2,051 Bank premises 1,662 95 191 52 152 144 279 128 49 124 74 193 180 Other assets(5) 38,644 1,751 13,988 1,164 2,343 5,962 2,221 3,477 1,010 1,131 806 1,009 3,783 Interdistrict settlement account 0 + 3,524 -19,556 + 1,506 - 263 + 178 + 1,346 - 1,462 + 493 - 354 + 839 + 3,908 + 9,842 Total Assets 765,685 38,100 322,772 23,726 32,055 59,253 51,149 64,615 22,133 16,276 20,368 36,983 78,255 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 14, 2004 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 806,002 38,862 323,294 29,468 32,362 59,906 64,004 66,645 23,484 15,760 22,278 41,535 88,402 Less: notes held by F.R. Banks 121,738 4,948 31,404 8,432 5,190 10,945 18,084 8,297 3,531 1,468 4,098 7,049 18,291 Federal Reserve notes, net 684,264 33,915 291,891 21,036 27,172 48,961 45,920 58,348 19,953 14,292 18,180 34,486 70,111 Reverse repurchase agreements (1) 19,470 914 8,443 579 832 1,480 1,313 1,754 572 425 512 888 1,760 Deposits 34,058 1,624 16,864 948 1,943 3,959 1,925 1,934 789 406 828 821 2,016 Depository institutions 28,722 1,614 11,727 947 1,938 3,792 1,924 1,931 786 405 826 820 2,012 U.S. Treasury, general account 4,902 0 4,902 0 0 0 0 0 0 0 0 0 0 Foreign official 85 2 62 1 2 7 2 3 1 1 1 0 4 Other 350 9 174 0 2 160 0 0 3 0 1 0 0 Deferred availability cash items 7,577 602 589 521 532 539 832 536 256 466 449 416 1,839 Other liabilities and accrued dividends (2) 2,269 129 709 93 120 238 186 216 103 82 85 118 189 Total liabilities 747,639 37,184 318,496 23,178 30,599 55,177 50,177 62,788 21,673 15,671 20,053 36,729 75,914 Capital Capital paid in 8,983 462 2,105 275 739 2,058 485 909 232 265 151 120 1,183 Surplus 8,767 448 2,031 259 717 2,019 487 918 228 339 162 111 1,048 Other capital 296 6 140 14 0 0 0 0 1 0 2 23 110 Total liabilities and capital 765,685 38,100 322,772 23,726 32,055 59,253 51,149 64,615 22,133 16,276 20,368 36,983 78,255 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 14, 2004 Federal Reserve notes outstanding 806,002 Less: Notes held by F.R. Banks not subject to collateralization 121,738 Federal Reserve Notes to be collateralized 684,264 Collateral held against Federal Reserve notes 684,264 Gold certificate account 11,041 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 671,023 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 704,417 Less:face value of securities under reverse repurchase agreements 19,475 U.S. Treasury and agency securities eligible to be pledged 684,942 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.