FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks October 28, 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 27, 2004 Oct 20, 2004 Oct 29, 2003 Oct 27, 2004 Federal Reserve Banks Reserve Bank Credit 770,604 + 75 + 43,772 772,409 Securities held outright 705,165 + 2,504 + 47,199 706,730 U.S. Treasury (1) 705,165 + 2,504 + 47,209 706,730 Bills (2) 259,117 + 49 + 16,956 259,201 Notes and bonds, nominal (2) 428,645 + 2,454 + 27,886 430,125 Notes and bonds, inflation-indexed (2) 15,262 0 + 1,808 15,262 Inflation compensation (3) 2,141 + 2 + 559 2,142 Federal agency (2) 0 0 - 10 0 Repurchase agreements(4) 24,000 - 2,964 - 4,071 23,750 Loans to depository institutions 198 + 25 + 108 140 Primary credit 51 + 46 + 32 0 Secondary credit 0 0 0 0 Seasonal credit 147 - 21 + 76 140 Float 141 - 247 + 259 434 Other Federal Reserve assets 41,100 + 758 + 278 41,356 Gold stock 11,043 0 0 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,323 + 14 + 1,018 36,323 Total factors supplying reserve funds 820,170 + 89 + 44,789 821,976 Currency in circulation(5) 740,688 - 716 + 38,683 742,412 Reverse repurchase agreements (6) 26,297 + 866 + 7,123 25,761 Foreign official and international accounts 26,297 + 866 + 7,123 25,761 Dealers 0 0 0 0 Treasury cash holdings 301 + 2 - 98 299 Deposits with F.R.Banks, other than reserve balances 15,814 - 316 - 1,105 15,486 U.S. Treasury, general account 4,948 - 284 - 177 4,582 Foreign official 86 - 13 + 5 113 Service-related 10,489 - 2 - 942 10,489 Required clearing balances 10,488 - 3 - 851 10,488 Adjustments to compensate for float 0 0 - 92 0 Other 291 - 17 + 8 303 Other liabilities and capital 24,102 + 222 + 3,596 23,608 Total factors, other than reserve balances, absorbing reserve funds 807,202 + 57 + 48,199 807,566 Reserve balances with Federal Reserve Banks 12,968 + 32 - 3,410 14,410 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,299,081 + 4,839 + 303,461 1,298,001 U.S. Treasury 1,051,206 + 3,583 + 256,551 1,049,867 Federal agency 247,874 + 1,256 + 46,909 248,134 Securities lent to dealers 1,553 + 1,180 + 478 2,831 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 27, 2004 Oct 20, 2004 Oct 29, 2003 Assets Gold certificate account 11,039 0 0 Special drawing rights certificate account 2,200 0 0 Coin 767 + 9 - 59 Securities, repurchase agreements, and loans 730,620 + 6,378 + 43,856 Securities held outright 706,730 + 3,917 + 48,048 U.S. Treasury (1) 706,730 + 3,917 + 48,058 Bills (2) 259,201 + 123 + 16,893 Notes and bonds, nominal (2) 430,125 + 3,792 + 28,803 Notes and bonds, inflation-indexed (2) 15,262 0 + 1,808 Inflation compensation (3) 2,142 + 2 + 555 Federal agency (2) 0 0 - 10 Repurchase agreements (4) 23,750 + 2,500 - 4,250 Loans 140 - 39 + 58 Items in process of collection (839) 6,630 - 782 + 187 Bank premises 1,748 + 13 + 152 Other assets (5) 39,657 + 763 + 368 Total assets (839) 792,661 + 6,382 + 44,503 Liabilities Federal Reserve notes net of FR Bank holdings 707,151 + 432 + 37,784 Reverse repurchase agreements (6) 25,761 - 82 + 6,475 Deposits (0) 29,945 + 6,442 - 2,656 Depository institutions 24,947 + 6,604 - 1,613 U.S. Treasury, general account 4,582 - 203 - 1,090 Foreign official 113 + 37 + 28 Other (0) 303 + 4 + 20 Deferred availability cash items (839) 6,196 - 253 - 603 Other liabilities and accrued dividends (7) 2,849 + 52 + 546 Total liabilities (839) 771,902 + 6,591 + 41,547 Capital Accounts Capital paid in 10,527 + 4 + 1,785 Surplus 8,847 0 + 467 Other capital accounts 1,385 - 213 + 704 Total capital 20,760 - 208 + 2,957 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 27, 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 127 35,892 - 14,743 0 0 23,750 25,761 16 days to 90 days 14 170,306 + 14,881 0 0 0 0 91 days to 1 year 0 169,363 + 1,578 0 0 ------ ------ Over 1 to 5 years ------ 203,509 + 1,397 0 0 ------ ------ Over 5 to 10 years ------ 50,942 + 403 0 0 ------ ------ Over 10 years ------ 76,718 + 401 0 0 ------ ------ All 140 706,730 + 3,917 0 0 23,750 25,761 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 27, 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 767 19 45 49 43 70 85 108 47 24 47 119 112 Securities, repurchase agreements, and loans 730,620 33,186 330,197 21,028 30,199 53,715 47,675 63,700 20,769 15,463 18,594 32,226 63,869 Securities held outright 706,730 33,186 306,447 21,020 30,199 53,715 47,660 63,661 20,763 15,415 18,572 32,223 63,869 U.S. Treasury (1) 706,730 33,186 306,447 21,020 30,199 53,715 47,660 63,661 20,763 15,415 18,572 32,223 63,869 Bills (2) 259,201 12,171 112,393 7,709 11,076 19,700 17,480 23,348 7,615 5,653 6,811 11,818 23,425 Notes and bonds(3) 447,529 21,015 194,055 13,311 19,123 34,014 30,180 40,313 13,148 9,761 11,760 20,405 40,445 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 23,750 0 23,750 0 0 0 0 0 0 0 0 0 0 Loans 140 0 0 8 0 0 15 39 6 48 22 3 0 Items in process of collection 7,469 351 504 402 496 341 648 798 467 531 606 236 2,090 Bank premises 1,748 98 196 52 155 144 278 145 60 123 78 238 180 Other assets(5) 39,657 1,807 14,292 1,108 2,441 6,175 2,273 3,593 1,045 1,171 826 1,021 3,905 Interdistrict settlement account 0 + 2,962 -30,198 + 3,698 + 305 + 1,652 + 9,600 + 132 + 1,504 - 735 + 1,623 + 2,380 + 7,079 Total Assets 793,500 39,032 320,560 26,801 34,194 63,064 61,618 69,611 24,287 16,826 22,141 36,842 78,524 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 27, 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 833,705 37,754 322,039 33,157 34,816 65,202 73,106 70,769 25,331 16,082 24,548 42,031 88,871 Less: notes held by F.R. Banks 126,554 4,429 32,515 8,945 5,720 11,989 17,439 8,831 3,178 1,514 4,654 7,847 19,493 Federal Reserve notes, net 707,151 33,325 289,523 24,212 29,097 53,212 55,668 61,938 22,153 14,568 19,894 34,184 69,378 Reverse repurchase agreements (1) 25,761 1,210 11,170 766 1,101 1,958 1,737 2,320 757 562 677 1,175 2,328 Deposits 29,945 1,494 13,610 677 1,845 2,928 2,038 2,540 591 384 760 739 2,339 Depository institutions 24,947 1,487 8,760 676 1,841 2,809 2,035 2,535 590 383 758 738 2,336 U.S. Treasury, general account 4,582 0 4,582 0 0 0 0 0 0 0 0 0 0 Foreign official 113 2 90 1 2 7 2 3 1 1 1 0 4 Other 303 6 177 0 1 112 2 1 1 0 1 0 0 Deferred availability cash items 7,035 509 779 437 451 388 868 441 178 596 384 320 1,685 Other liabilities and accrued dividends (2) 2,849 173 918 109 143 312 235 262 118 92 104 144 239 Total liabilities 772,741 36,711 316,000 26,200 32,636 58,798 60,546 67,501 23,798 16,201 21,818 36,562 75,969 Capital Capital paid in 10,527 1,634 2,165 292 762 2,097 518 1,028 240 263 149 131 1,248 Surplus 8,847 448 2,031 259 727 2,074 489 924 228 346 162 111 1,048 Other capital 1,385 239 365 50 68 94 65 158 21 16 11 38 258 Total liabilities and capital 793,500 39,032 320,560 26,801 34,194 63,064 61,618 69,611 24,287 16,826 22,141 36,842 78,524 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 27, 2004 Federal Reserve notes outstanding 833,705 Less: Notes held by F.R. Banks not subject to collateralization 126,554 Federal Reserve Notes to be collateralized 707,151 Collateral held against Federal Reserve notes 707,151 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 693,912 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 730,480 Less:face value of securities under reverse repurchase agreements 25,774 U.S. Treasury and agency securities eligible to be pledged 704,706 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.