FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks October 7, 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 Oct 6, 2004 Sep 29, 2004 Oct 8, 2003 Oct 6, 2004 Federal Reserve Banks Reserve Bank Credit 764,916 - 897 + 49,947 761,850 Securities held outright 700,691 + 2,089 + 44,449 701,586 U.S. Treasury (1) 700,691 + 2,089 + 44,459 701,586 Bills (2) 258,810 + 1,748 + 17,171 258,849 Notes and bonds, nominal (2) 424,483 + 342 + 24,888 425,339 Notes and bonds, inflation-indexed (2) 15,262 0 + 1,808 15,262 Inflation compensation (3) 2,135 - 2 + 592 2,136 Federal agency (2) 0 0 - 10 0 Repurchase agreements(4) 24,464 - 3,107 + 5,214 21,000 Loans to depository institutions 201 - 53 + 74 196 Primary credit 2 - 7 0 2 Secondary credit 0 0 0 0 Seasonal credit 199 - 46 + 74 194 Float 0 - 117 + 355 -544 Other Federal Reserve assets 39,560 + 291 - 145 39,612 Gold stock 11,043 0 0 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,281 + 14 + 1,000 36,281 Total factors supplying reserve funds 814,440 - 884 + 50,947 811,374 Currency in circulation(5) 738,570 + 1,728 + 39,580 740,822 Reverse repurchase agreements (6) 24,888 + 597 + 5,566 24,736 Foreign official and international accounts 24,888 + 597 + 5,566 24,736 Dealers 0 0 0 0 Treasury cash holdings 291 - 8 - 67 295 Deposits with F.R.Banks, other than reserve balances 16,480 + 841 - 611 16,709 U.S. Treasury, general account 5,334 + 216 + 149 5,576 Foreign official 101 - 9 - 4 80 Service-related 10,720 + 557 - 736 10,720 Required clearing balances 10,720 + 557 - 532 10,720 Adjustments to compensate for float 0 0 - 204 0 Other 325 + 78 - 20 334 Other liabilities and capital 23,448 + 54 + 2,870 23,158 Total factors, other than reserve balances, absorbing reserve funds 803,677 + 3,212 + 47,339 805,720 Reserve balances with Federal Reserve Banks 10,763 - 4,096 + 3,608 5,654 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,292,097 + 517 + 300,329 1,289,034 U.S. Treasury 1,049,404 + 1,765 + 250,737 1,045,201 Federal agency 242,694 - 1,247 + 49,593 243,833 Securities lent to dealers 1,597 + 111 - 741 1,766 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 Oct 6, 2004 Sep 29, 2004 Oct 8, 2003 Assets Gold certificate account 11,039 0 0 Special drawing rights certificate account 2,200 0 0 Coin 764 - 13 - 62 Securities, repurchase agreements, and loans 722,782 - 5,586 + 46,637 Securities held outright 701,586 + 2,969 + 45,306 U.S. Treasury (1) 701,586 + 2,969 + 45,316 Bills (2) 258,849 + 1,770 + 17,177 Notes and bonds, nominal (2) 425,339 + 1,198 + 25,744 Notes and bonds, inflation-indexed (2) 15,262 0 + 1,808 Inflation compensation (3) 2,136 + 1 + 588 Federal agency (2) 0 0 - 10 Repurchase agreements (4) 21,000 - 8,500 + 1,250 Loans 196 - 55 + 81 Items in process of collection (973) 6,609 + 1,007 - 1,142 Bank premises 1,730 - 1 + 135 Other assets (5) 37,970 + 83 - 471 Total assets (973) 783,093 - 4,512 + 45,097 Liabilities Federal Reserve notes net of FR Bank holdings 705,595 + 2,144 + 38,421 Reverse repurchase agreements (6) 24,736 + 399 + 5,785 Deposits (0) 22,452 - 8,252 - 1,166 Depository institutions 16,462 - 8,481 - 1,806 U.S. Treasury, general account 5,576 + 140 + 641 Foreign official 80 - 1 - 1 Other (0) 334 + 89 0 Deferred availability cash items (973) 7,153 + 1,215 - 805 Other liabilities and accrued dividends (7) 2,792 + 33 + 545 Total liabilities (973) 762,728 - 4,460 + 42,779 Capital Accounts Capital paid in 10,508 + 6 + 1,761 Surplus 8,847 0 + 467 Other capital accounts 1,011 - 57 + 91 Total capital 20,366 - 50 + 2,318 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, October 6, 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 17 44,846 - 8,401 0 0 21,000 24,736 16 days to 90 days 179 161,100 + 8,278 0 0 0 0 91 days to 1 year 0 166,867 + 775 0 0 ------ ------ Over 1 to 5 years ------ 201,940 + 2,316 0 0 ------ ------ Over 5 to 10 years ------ 50,517 0 0 0 ------ ------ Over 10 years ------ 76,316 + 1 0 0 ------ ------ All 196 701,586 + 2,969 0 0 21,000 24,736 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 October 6, 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 11,039 494 4,649 382 452 819 894 924 325 218 302 525 1,055 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 764 18 45 44 43 74 83 99 50 22 49 127 109 Securities, repurchase agreements, and loans 722,782 32,945 325,217 20,876 29,979 53,324 47,327 63,261 20,628 15,364 18,465 31,993 63,404 Securities held outright 701,586 32,945 304,217 20,867 29,979 53,324 47,313 63,198 20,612 15,302 18,436 31,989 63,404 U.S. Treasury (1) 701,586 32,945 304,217 20,867 29,979 53,324 47,313 63,198 20,612 15,302 18,436 31,989 63,404 Bills (2) 258,849 12,155 112,240 7,699 11,061 19,674 17,456 23,317 7,605 5,646 6,802 11,802 23,393 Notes and bonds(3) 442,737 20,790 191,977 13,168 18,918 33,650 29,857 39,881 13,007 9,657 11,634 20,187 40,011 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 21,000 0 21,000 0 0 0 0 0 0 0 0 0 0 Loans 196 0 0 9 0 0 14 64 16 61 28 4 0 Items in process of collection 7,582 428 460 392 451 442 810 347 355 448 530 419 2,500 Bank premises 1,730 97 191 51 154 144 278 145 59 123 77 230 180 Other assets(5) 37,970 1,718 13,689 1,094 2,328 5,935 2,183 3,424 991 1,121 784 977 3,725 Interdistrict settlement account 0 + 3,229 -31,819 + 4,027 - 119 + 675 +10,084 - 800 + 1,553 - 607 + 2,046 + 2,858 + 8,872 Total Assets 784,067 39,043 313,306 26,949 33,393 61,560 61,825 67,613 24,032 16,719 22,319 37,227 80,078 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 October 6, 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 830,891 38,067 320,395 33,214 34,984 64,445 72,980 69,277 25,223 16,142 24,552 42,329 89,284 Less: notes held by F.R. Banks 125,297 4,314 33,945 8,955 5,642 11,915 16,593 8,446 3,177 1,590 4,544 7,721 18,455 Federal Reserve notes, net 705,595 33,752 286,449 24,259 29,342 52,531 56,387 60,831 22,045 14,552 20,009 34,608 70,829 Reverse repurchase agreements (1) 24,736 1,162 10,726 736 1,057 1,880 1,668 2,228 727 540 650 1,128 2,235 Deposits 22,452 1,226 9,878 674 822 2,169 1,545 1,666 462 411 709 658 2,231 Depository institutions 16,462 1,224 4,081 673 819 2,000 1,541 1,663 459 410 707 657 2,227 U.S. Treasury, general account 5,576 0 5,576 0 0 0 0 0 0 0 0 0 0 Foreign official 80 2 57 1 2 7 2 3 1 1 1 0 4 Other 334 0 164 0 0 162 2 0 2 0 1 0 0 Deferred availability cash items 8,126 504 866 598 504 484 937 554 193 511 534 410 2,029 Other liabilities and accrued dividends (2) 2,792 166 900 106 139 303 232 259 117 91 101 149 230 Total liabilities 763,701 36,811 308,819 26,373 31,864 57,366 60,769 65,539 23,543 16,106 22,003 36,953 77,555 Capital Capital paid in 10,508 1,634 2,163 286 762 2,089 518 1,025 238 263 149 131 1,249 Surplus 8,847 448 2,031 259 727 2,074 489 924 228 346 162 111 1,048 Other capital 1,011 150 293 32 40 31 50 125 22 5 5 32 227 Total liabilities and capital 784,067 39,043 313,306 26,949 33,393 61,560 61,825 67,613 24,032 16,719 22,319 37,227 80,078 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 Oct 6, 2004 Federal Reserve notes outstanding 830,891 Less: Notes held by F.R. Banks not subject to collateralization 125,297 Federal Reserve Notes to be collateralized 705,595 Collateral held against Federal Reserve notes 705,595 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 692,356 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 722,586 Less:face value of securities under reverse repurchase agreements 24,747 U.S. Treasury and agency securities eligible to be pledged 697,839 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.