FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks June 10, 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 Jun 9, 2004 Jun 2, 2004 Jun 11, 2003 Jun 9, 2004 Federal Reserve Banks Reserve Bank Credit 746,417 - 3,190 + 33,209 752,783 Securities held outright 683,066 + 1,598 + 31,481 683,932 U.S. Treasury (1) 683,066 + 1,598 + 31,491 683,932 Bills (2) 251,904 + 1,442 + 13,504 251,908 Notes and bonds, nominal (2) 414,802 + 143 + 15,949 415,659 Notes and bonds, inflation-indexed (2) 14,464 0 + 1,650 14,464 Inflation compensation (3) 1,895 + 12 + 387 1,900 Federal agency (2) 0 0 - 10 0 Repurchase agreements(4) 24,821 - 4,929 + 1,535 30,250 Loans to depository institutions 158 + 31 + 96 157 Primary credit 32 + 24 + 30 32 Secondary credit 0 0 0 0 Seasonal credit 126 + 7 + 65 125 Float -98 - 27 + 2 -135 Other Federal Reserve assets 38,470 + 137 + 95 38,579 Gold stock 11,045 0 + 1 11,045 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 35,797 + 14 + 799 35,797 Total factors supplying reserve funds 795,459 - 3,176 + 34,009 801,825 Currency in circulation(5) 726,198 - 223 + 34,008 726,682 Reverse repurchase agreements (6) 20,304 - 94 - 512 19,942 Foreign official and international accounts 20,304 - 94 - 512 19,942 Dealers 0 0 0 0 Treasury cash holdings 323 + 3 - 62 326 Deposits with F.R.Banks, other than reserve balances 15,221 + 599 - 2,552 15,696 U.S. Treasury, general account 4,698 + 606 - 1,817 5,215 Foreign official 92 - 11 - 47 85 Service-related 10,149 - 1 - 729 10,149 Required clearing balances 10,149 - 1 - 683 10,149 Adjustments to compensate for float 0 0 - 45 0 Other 282 + 5 + 41 247 Other liabilities and capital 21,585 - 75 + 1,395 21,218 Total factors, other than reserve balances, absorbing reserve funds 783,631 + 210 + 32,277 783,864 Reserve balances with Federal Reserve Banks 11,828 - 3,385 + 1,732 17,961 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,228,148 + 7,424 + 292,682 1,230,805 U.S. Treasury 993,491 + 8,639 + 246,900 997,535 Federal agency 234,656 - 1,216 + 45,781 233,269 Securities lent to dealers 1,539 - 1,212 + 772 1,544 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 Jun 9, 2004 Jun 2, 2004 Jun 11, 2003 Assets Gold certificate account 11,041 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 726 + 8 - 200 Securities, repurchase agreements, and loans 714,339 + 10,194 + 30,162 Securities held outright 683,932 + 2,449 + 32,319 U.S. Treasury (1) 683,932 + 2,449 + 32,329 Bills (2) 251,908 + 1,436 + 13,478 Notes and bonds, nominal (2) 415,659 + 1,000 + 16,806 Notes and bonds, inflation-indexed (2) 14,464 0 + 1,650 Inflation compensation (3) 1,900 + 12 + 395 Federal agency (2) 0 0 - 10 Repurchase agreements (4) 30,250 + 7,750 - 2,250 Loans 157 - 5 + 92 Items in process of collection (936) 6,349 - 2,365 - 882 Bank premises 1,685 + 2 + 106 Other assets (5) 36,831 + 290 - 179 Total assets (936) 773,171 + 8,129 + 29,007 Liabilities Federal Reserve notes net of FR Bank holdings 691,932 - 1,419 + 32,546 Reverse repurchase agreements (6) 19,942 - 350 - 1,269 Deposits (0) 33,598 + 11,756 - 2,095 Depository institutions 28,051 + 8,181 - 1,298 U.S. Treasury, general account 5,215 + 3,623 - 816 Foreign official 85 + 3 + 5 Other (0) 247 - 51 + 14 Deferred availability cash items (936) 6,481 - 1,679 - 1,274 Other liabilities and accrued dividends (7) 2,475 + 71 + 120 Total liabilities (936) 754,428 + 8,379 + 28,028 Capital Accounts Capital paid in 9,201 - 3 + 545 Surplus 8,847 0 + 467 Other capital accounts 695 - 247 - 33 Total capital 18,743 - 249 + 979 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, June 9, 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 34 47,092 - 849 0 0 30,250 19,942 16 days to 90 days 123 166,556 + 7,787 0 0 0 0 91 days to 1 year 0 155,813 - 5,502 0 0 ------ ------ Over 1 to 5 years ------ 186,170 + 730 0 0 ------ ------ Over 5 to 10 years ------ 51,577 + 278 0 0 ------ ------ Over 10 years ------ 76,723 + 4 0 0 ------ ------ All 157 683,932 + 2,449 0 0 30,250 19,942 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 June 9, 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 726 31 25 39 32 69 74 89 53 26 41 147 101 Securities, repurchase agreements, and loans 714,339 32,116 326,812 20,342 29,225 51,982 46,127 61,659 20,109 14,957 17,986 31,186 61,841 Securities held outright 683,932 32,116 296,562 20,342 29,225 51,982 46,123 61,608 20,093 14,917 17,973 31,184 61,809 U.S. Treasury (1) 683,932 32,116 296,562 20,342 29,225 51,982 46,123 61,608 20,093 14,917 17,973 31,184 61,809 Bills (2) 251,908 11,829 109,231 7,492 10,764 19,146 16,988 22,691 7,401 5,494 6,620 11,486 22,766 Notes and bonds(3) 432,024 20,287 187,331 12,849 18,460 32,836 29,135 38,916 12,692 9,423 11,353 19,698 39,043 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 30,250 0 30,250 0 0 0 0 0 0 0 0 0 0 Loans 157 0 0 0 0 0 4 52 15 39 13 2 32 Items in process of collection 7,285 398 360 368 357 391 758 490 420 417 498 451 2,377 Bank premises 1,685 96 191 52 154 144 279 132 51 123 75 207 181 Other assets(5) 36,831 1,668 13,231 1,027 2,274 5,829 2,100 3,323 966 1,098 760 931 3,623 Interdistrict settlement account 0 + 3,013 -22,102 + 2,929 - 1,556 - 1,744 + 3,223 + 157 + 410 - 407 + 1,448 + 3,861 +10,767 Total Assets 774,107 37,931 324,042 25,222 31,042 57,637 53,620 66,986 22,405 16,462 21,175 37,405 80,179 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 June 9, 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 808,410 37,944 319,431 31,054 32,054 58,907 67,142 67,953 23,541 15,610 23,341 41,844 89,589 Less: notes held by F.R. Banks 116,477 4,098 28,262 8,463 5,453 10,506 18,862 7,400 3,074 1,247 4,211 6,916 17,985 Federal Reserve notes, net 691,932 33,846 291,169 22,591 26,602 48,401 48,280 60,552 20,467 14,363 19,130 34,928 71,604 Reverse repurchase agreements (1) 19,942 936 8,647 593 852 1,516 1,345 1,796 586 435 524 909 1,802 Deposits 33,598 1,450 18,453 914 1,559 2,774 1,921 1,814 542 444 717 813 2,197 Depository institutions 28,051 1,443 13,013 913 1,555 2,693 1,920 1,811 540 442 715 811 2,193 U.S. Treasury, general account 5,215 0 5,215 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 247 5 164 0 1 74 0 0 1 0 1 1 0 Deferred availability cash items 7,417 540 617 462 420 527 844 570 228 524 390 352 1,943 Other liabilities and accrued dividends (2) 2,475 136 779 98 130 276 196 236 110 84 91 131 209 Total liabilities 755,363 36,909 319,664 24,658 29,562 53,493 52,586 64,969 21,933 15,850 20,852 37,132 77,755 Capital Capital paid in 9,201 506 2,115 278 732 2,064 509 1,020 232 264 154 128 1,200 Surplus 8,847 448 2,031 259 727 2,074 489 924 228 346 162 111 1,048 Other capital 695 68 233 27 21 6 37 73 13 3 7 34 175 Total liabilities and capital 774,107 37,931 324,042 25,222 31,042 57,637 53,620 66,986 22,405 16,462 21,175 37,405 80,179 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 Jun 9, 2004 Federal Reserve notes outstanding 808,410 Less: Notes held by F.R. Banks not subject to collateralization 116,477 Federal Reserve Notes to be collateralized 691,932 Collateral held against Federal Reserve notes 691,932 Gold certificate account 11,041 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 678,691 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 714,182 Less:face value of securities under reverse repurchase agreements 19,947 U.S. Treasury and agency securities eligible to be pledged 694,235 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.