FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks October 14, 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 13, 2004 Oct 6, 2004 Oct 15, 2003 Oct 13, 2004 Federal Reserve Banks Reserve Bank Credit 768,783 + 3,867 + 45,965 773,823 Securities held outright 701,602 + 911 + 45,186 701,617 U.S. Treasury (1) 701,602 + 911 + 45,196 701,617 Bills (2) 258,864 + 54 + 17,065 258,878 Notes and bonds, nominal (2) 425,339 + 856 + 25,744 425,339 Notes and bonds, inflation-indexed (2) 15,262 0 + 1,808 15,262 Inflation compensation (3) 2,137 + 2 + 580 2,138 Federal agency (2) 0 0 - 10 0 Repurchase agreements(4) 27,071 + 2,607 + 678 30,250 Loans to depository institutions 193 - 8 + 91 186 Primary credit 5 + 3 + 1 2 Secondary credit 0 0 0 0 Seasonal credit 188 - 11 + 90 184 Float -128 - 128 + 223 1,691 Other Federal Reserve assets 40,044 + 484 - 214 40,079 Gold stock 11,043 0 0 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,295 + 14 + 1,006 36,295 Total factors supplying reserve funds 818,321 + 3,881 + 46,971 823,362 Currency in circulation(5) 742,571 + 4,001 + 39,450 743,398 Reverse repurchase agreements (6) 24,883 - 5 + 5,788 24,985 Foreign official and international accounts 24,883 - 5 + 5,788 24,985 Dealers 0 0 0 0 Treasury cash holdings 295 + 4 - 78 299 Deposits with F.R.Banks, other than reserve balances 15,789 - 691 + 224 16,566 U.S. Treasury, general account 4,682 - 652 + 937 5,466 Foreign official 87 - 14 - 52 86 Service-related 10,722 + 2 - 648 10,722 Required clearing balances 10,722 + 2 - 529 10,722 Adjustments to compensate for float 0 0 - 118 0 Other 298 - 27 - 14 292 Other liabilities and capital 23,650 + 202 + 3,127 23,479 Total factors, other than reserve balances, absorbing reserve funds 807,189 + 3,512 + 48,513 808,728 Reserve balances with Federal Reserve Banks 11,133 + 370 - 1,541 14,634 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,288,190 - 3,907 + 297,407 1,290,638 U.S. Treasury 1,044,271 - 5,133 + 246,475 1,045,740 Federal agency 243,919 + 1,225 + 50,932 244,898 Securities lent to dealers 833 - 764 - 126 0 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 13, 2004 Oct 6, 2004 Oct 15, 2003 Assets Gold certificate account 11,039 0 0 Special drawing rights certificate account 2,200 0 0 Coin 748 - 16 - 65 Securities, repurchase agreements, and loans 732,053 + 9,271 + 45,194 Securities held outright 701,617 + 31 + 45,118 U.S. Treasury (1) 701,617 + 31 + 45,128 Bills (2) 258,878 + 29 + 16,999 Notes and bonds, nominal (2) 425,339 0 + 25,744 Notes and bonds, inflation-indexed (2) 15,262 0 + 1,808 Inflation compensation (3) 2,138 + 2 + 577 Federal agency (2) 0 0 - 10 Repurchase agreements (4) 30,250 + 9,250 0 Loans 186 - 10 + 76 Items in process of collection (528) 10,600 + 3,991 - 3,702 Bank premises 1,732 + 2 + 136 Other assets (5) 38,439 + 469 + 133 Total assets (528) 796,811 + 13,718 + 41,697 Liabilities Federal Reserve notes net of FR Bank holdings 708,146 + 2,551 + 38,085 Reverse repurchase agreements (6) 24,985 + 249 + 6,343 Deposits (0) 31,292 + 8,840 - 3,838 Depository institutions 25,447 + 8,985 - 4,373 U.S. Treasury, general account 5,466 - 110 + 609 Foreign official 86 + 6 - 79 Other (0) 292 - 42 + 3 Deferred availability cash items (528) 8,909 + 1,756 - 2,398 Other liabilities and accrued dividends (7) 2,905 + 113 + 666 Total liabilities (528) 776,237 + 13,509 + 38,858 Capital Accounts Capital paid in 10,511 + 3 + 1,772 Surplus 8,847 0 + 472 Other capital accounts 1,217 + 206 + 596 Total capital 20,574 + 208 + 2,839 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 13, 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 29 44,652 - 194 0 0 30,250 24,985 16 days to 90 days 157 161,134 + 34 0 0 0 0 91 days to 1 year 0 167,056 + 189 0 0 ------ ------ Over 1 to 5 years ------ 201,941 + 1 0 0 ------ ------ Over 5 to 10 years ------ 50,518 + 1 0 0 ------ ------ Over 10 years ------ 76,316 0 0 0 ------ ------ All 186 701,617 + 31 0 0 30,250 24,985 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 13, 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 748 17 44 45 44 71 81 99 49 21 48 123 107 Securities, repurchase agreements, and loans 732,053 32,946 334,480 20,879 29,980 53,326 47,329 63,258 20,628 15,361 18,464 31,994 63,407 Securities held outright 701,617 32,946 304,230 20,868 29,980 53,326 47,315 63,201 20,613 15,303 18,437 31,990 63,407 U.S. Treasury (1) 701,617 32,946 304,230 20,868 29,980 53,326 47,315 63,201 20,613 15,303 18,437 31,990 63,407 Bills (2) 258,878 12,156 112,253 7,700 11,062 19,676 17,458 23,319 7,606 5,646 6,803 11,804 23,396 Notes and bonds(3) 442,739 20,790 191,978 13,168 18,918 33,650 29,857 39,881 13,007 9,657 11,634 20,187 40,012 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 186 0 0 12 0 0 14 58 15 58 27 4 0 Items in process of collection 11,128 722 987 440 782 486 686 825 895 606 1,073 551 3,075 Bank premises 1,732 97 191 52 154 144 278 145 59 123 78 230 180 Other assets(5) 38,439 1,741 13,867 1,107 2,359 5,987 2,215 3,470 1,005 1,134 797 986 3,771 Interdistrict settlement account 0 + 3,081 -37,264 + 3,882 + 801 + 1,942 +11,238 + 2,497 + 1,316 - 585 + 1,675 + 3,057 + 8,361 Total Assets 797,339 39,213 317,828 26,870 34,676 62,922 62,886 71,431 24,348 16,909 22,502 37,564 80,189 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 13, 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 831,945 38,030 321,213 33,144 34,952 64,674 72,964 69,767 25,256 16,117 24,584 42,231 89,013 Less: notes held by F.R. Banks 123,798 4,086 33,288 8,832 5,513 11,746 16,712 8,485 3,180 1,573 4,509 7,546 18,327 Federal Reserve notes, net 708,146 33,943 287,925 24,312 29,439 52,928 56,252 61,281 22,076 14,544 20,075 34,685 70,686 Reverse repurchase agreements (1) 24,985 1,173 10,834 743 1,068 1,899 1,685 2,251 734 545 657 1,139 2,258 Deposits 31,292 968 12,646 602 1,828 3,047 2,648 4,669 653 406 799 803 2,222 Depository institutions 25,447 966 6,949 601 1,824 2,923 2,645 4,666 651 405 798 802 2,218 U.S. Treasury, general account 5,466 0 5,466 0 0 0 0 0 0 0 0 0 0 Foreign official 86 2 63 1 2 7 2 3 1 1 1 0 4 Other 292 0 168 1 1 116 2 0 1 0 1 0 0 Deferred availability cash items 9,437 703 976 520 644 509 997 869 276 701 544 513 2,184 Other liabilities and accrued dividends (2) 2,905 170 920 108 143 306 238 266 119 93 103 140 297 Total liabilities 776,765 36,957 313,301 26,285 33,122 58,689 61,821 69,336 23,858 16,289 22,179 37,281 77,646 Capital Capital paid in 10,511 1,634 2,163 286 762 2,093 518 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 1,217 174 333 41 65 66 58 145 23 12 12 41 246 Total liabilities and capital 797,339 39,213 317,828 26,870 34,676 62,922 62,886 71,431 24,348 16,909 22,502 37,564 80,189 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 13, 2004 Federal Reserve notes outstanding 831,945 Less: Notes held by F.R. Banks not subject to collateralization 123,798 Federal Reserve Notes to be collateralized 708,146 Collateral held against Federal Reserve notes 708,146 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 694,907 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 731,867 Less:face value of securities under reverse repurchase agreements 24,996 U.S. Treasury and agency securities eligible to be pledged 706,870 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.