FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks November 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 Nov 12, 2003 Nov 5, 2003 Nov 13, 2002 Nov 12, 2003 Federal Reserve Banks Reserve Bank Credit 722,260 - 2,866 + 55,911 725,946 Securities held outright 660,213 + 1,400 + 51,723 660,289 U.S. Treasury (1) 660,203 + 1,400 + 51,723 660,279 Bills (2) 242,720 + 287 + 36,273 242,792 Notes and bonds, nominal (2) 402,422 + 1,100 + 13,856 402,422 Notes and bonds, inflation-indexed (2) 13,454 0 + 1,212 13,454 Inflation compensation (3) 1,606 + 13 + 382 1,610 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 20,464 - 3,536 + 3,643 24,000 Loans to depository institutions 52 - 83 - 256 51 Primary credit 3 - 79 + 3 3 Secondary credit 0 0 0 0 Seasonal credit 48 - 5 - 18 48 Adjustment credit 0 0 - 242 0 Float 483 - 1,008 - 166 252 Other Federal Reserve assets 41,048 + 361 + 967 41,353 Gold stock 11,043 0 + 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 35,377 + 14 + 970 35,377 Total factors supplying reserve funds 770,881 - 2,851 + 56,883 774,566 Currency in circulation(5) 706,365 + 3,076 + 38,286 708,583 Reverse repurchase agreements (6) 17,554 - 2,334 + 17,554 17,386 Foreign official and international accounts 17,554 - 1,370 + 17,554 17,386 Dealers 0 - 964 0 0 Treasury cash holdings 375 - 14 - 11 348 Deposits with F.R.Banks, other than reserve balances 16,855 - 1,037 + 1,201 16,653 U.S. Treasury, general account 4,876 - 804 - 137 4,614 Foreign official 91 - 105 + 14 147 Service-related 11,579 - 145 + 1,251 11,579 Required clearing balances 11,425 + 2 + 1,367 11,425 Adjustments to compensate for float 154 - 147 - 116 154 Other 309 + 16 + 73 314 Other liabilities and capital 20,243 + 218 + 231 20,446 Total factors, other than reserve balances, absorbing reserve funds 761,392 - 91 + 57,261 763,416 Reserve balances with Federal Reserve Banks 9,489 - 2,761 - 378 11,150 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,002,253 + 299 ------ 1,005,334 U.S. Treasury 799,454 + 427 ------ 799,679 Federal agency 202,799 - 128 ------ 205,655 Securities lent to dealers 1,502 - 58 + 674 1,315 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 Nov 12, 2003 Nov 5, 2003 Nov 13, 2002 Assets Gold certificate account 11,039 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 819 - 10 - 261 Securities, repurchase agreements, and loans 684,340 + 6,406 + 54,279 Securities held outright 660,289 + 1,404 + 51,295 U.S. Treasury (1) 660,279 + 1,404 + 51,295 Bills (2) 242,792 + 292 + 35,843 Notes and bonds, nominal (2) 402,422 + 1,100 + 13,856 Notes and bonds, inflation-indexed (2) 13,454 0 + 1,212 Inflation compensation (3) 1,610 + 11 + 383 Federal agency (2) 10 0 0 Repurchase agreements (4) 24,000 + 5,000 + 3,000 Loans 51 + 2 - 16 Items in process of collection (157) 6,787 - 5,613 - 8,794 Bank premises 1,600 + 2 + 70 Other assets (5) 39,716 + 701 + 980 Total assets (157) 746,501 + 1,486 + 46,274 Liabilities Federal Reserve notes net of FR Bank holdings 674,369 + 3,520 + 37,868 Reverse repurchase agreements (6) 17,386 - 3,615 + 17,386 Deposits (0) 27,724 + 2,764 - 4,427 Depository institutions 22,650 + 3,083 - 4,595 U.S. Treasury, general account 4,614 - 1 + 22 Foreign official 147 - 311 + 71 Other (0) 314 - 6 + 76 Deferred availability cash items (157) 6,576 - 1,788 - 5,306 Other liabilities and accrued dividends (7) 2,314 + 37 - 155 Total liabilities (157) 728,369 + 918 + 45,366 Capital Accounts Capital paid in 8,784 + 30 + 499 Surplus 8,380 + 45 + 1,068 Other capital accounts 968 + 493 - 659 Total capital 18,132 + 568 + 909 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, November 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 13 34,595 - 14,230 0 0 24,000 17,386 16 days to 90 days 38 159,321 + 14,583 10 0 0 0 91 days to 1 year 0 157,975 + 1,039 0 0 ------ ------ Over 1 to 5 years ------ 179,303 + 3 0 0 ------ ------ Over 5 to 10 years ------ 51,966 + 4 0 0 ------ ------ Over 10 years ------ 77,119 + 5 0 0 ------ ------ All 51 660,279 + 1,404 10 0 24,000 17,386 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 November 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 11,039 495 4,706 380 477 808 863 982 331 224 303 507 963 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 819 27 34 45 36 94 101 97 56 24 51 147 106 Securities, repurchase agreements, and loans 684,340 31,922 306,493 20,646 30,940 50,778 44,607 66,732 20,775 14,760 17,758 25,876 53,053 Securities held outright 660,289 31,922 282,493 20,643 30,940 50,778 44,607 66,722 20,774 14,739 17,745 25,876 53,050 U.S. Treasury (1) 660,279 31,922 282,489 20,643 30,939 50,778 44,606 66,721 20,773 14,738 17,745 25,876 53,050 Bills (2) 242,792 11,738 103,874 7,591 11,377 18,671 16,402 24,534 7,639 5,419 6,525 9,515 19,507 Notes and bonds(3) 417,487 20,184 178,614 13,052 19,562 32,106 28,204 42,187 13,135 9,319 11,220 16,361 33,543 Federal agency (2) 10 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements(4) 24,000 0 24,000 0 0 0 0 0 0 0 0 0 0 Loans 51 0 0 3 0 0 1 9 2 22 13 0 2 Items in process of collection 6,944 374 378 284 365 66 197 667 291 445 598 322 2,958 Bank premises 1,600 92 190 52 150 144 277 122 43 125 55 174 177 Other assets(5) 39,716 1,840 14,322 1,105 2,471 6,230 2,317 3,712 1,031 1,183 949 1,148 3,407 Interdistrict settlement account 0 + 805 - 73 - 314 - 2,299 - 979 + 1,737 - 7,833 - 1,492 + 59 - 682 + 4,152 + 6,919 Total Assets 746,658 35,670 326,923 22,281 32,244 57,288 50,265 64,691 21,108 16,849 19,099 32,424 67,817 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 November 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 790,465 37,016 326,176 27,987 33,159 59,128 65,074 66,988 23,294 15,693 21,374 37,513 77,064 Less: notes held by F.R. Banks 116,096 5,429 23,014 8,411 5,447 9,747 19,160 9,585 4,389 1,457 4,472 7,600 17,386 Federal Reserve notes, net 674,369 31,587 303,162 19,576 27,712 49,381 45,914 57,403 18,905 14,236 16,901 29,913 59,679 Reverse repurchase agreements (1) 17,386 841 7,438 544 815 1,337 1,175 1,757 547 388 467 681 1,397 Deposits 27,724 1,836 10,860 1,113 1,832 1,859 1,485 2,589 793 846 988 1,056 2,467 Depository institutions 22,650 1,833 5,963 1,112 1,828 1,706 1,483 2,585 790 845 986 1,055 2,464 U.S. Treasury, general account 4,614 0 4,614 0 0 0 0 0 0 0 0 0 0 Foreign official 147 2 123 1 3 7 2 3 1 1 1 1 3 Other 314 1 160 0 2 146 1 0 2 0 1 1 0 Deferred availability cash items 6,733 350 523 416 289 270 503 807 279 581 242 267 2,204 Other liabilities and accrued dividends (2) 2,314 129 707 96 129 252 185 238 105 86 88 117 183 Total liabilities 728,526 34,743 322,690 21,746 30,777 53,100 49,262 62,793 20,629 16,136 18,687 32,033 65,931 Capital Capital paid in 8,784 448 2,003 259 725 2,066 485 918 231 348 196 184 920 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 968 43 421 43 40 48 43 123 49 25 15 21 97 Total liabilities and capital 746,658 35,670 326,923 22,281 32,244 57,288 50,265 64,691 21,108 16,849 19,099 32,424 67,817 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 Nov 12, 2003 Federal Reserve notes outstanding 790,465 Less: Notes held by F.R. Banks not subject to collateralization 116,096 Federal Reserve Notes to be collateralized 674,369 Collateral held against Federal Reserve notes 674,369 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 661,130 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 684,289 Less:face value of securities under reverse repurchase agreements 17,409 U.S. Treasury and agency securities eligible to be pledged 666,880 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.