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Release Date: June 24, 2004
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FEDERAL RESERVE Statistical Release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
June 24, 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 23, 2004 Jun 16, 2004 Jun 25, 2003 Jun 23, 2004
Federal Reserve Banks
Reserve Bank Credit 748,436 + 2,055 + 30,743 756,252
Securities held outright 685,043 + 63 + 33,083 685,177
U.S. Treasury (1) 685,043 + 63 + 33,093 685,177
Bills (2) 251,964 + 51 + 13,174 252,094
Notes and bonds, nominal (2) 416,694 0 + 17,841 416,694
Notes and bonds, inflation-indexed (2) 14,464 0 + 1,650 14,464
Inflation compensation (3) 1,920 + 12 + 427 1,924
Federal agency (2) 0 0 - 10 0
Repurchase agreements(4) 24,250 + 1,429 - 2,071 32,000
Loans to depository institutions 197 + 28 - 210 165
Primary credit 54 + 20 - 268 8
Secondary credit 0 0 0 0
Seasonal credit 143 + 8 + 59 157
Float -262 + 95 - 284 -443
Other Federal Reserve assets 39,208 + 441 + 225 39,353
Gold stock 11,045 0 + 1 11,045
Special drawing rights certificate account 2,200 0 0 2,200
Treasury currency outstanding (5) 35,825 + 14 + 782 35,825
Total factors supplying reserve funds 797,506 + 2,069 + 31,526 805,322
Currency in circulation(5) 724,759 + 12 + 33,613 727,776
Reverse repurchase agreements (6) 18,722 - 1,334 - 3,992 17,465
Foreign official and international accounts 18,722 - 1,334 - 2,314 17,465
Dealers 0 0 - 1,679 0
Treasury cash holdings 315 - 9 - 53 307
Deposits with F.R.Banks, other than reserve balances 17,655 + 779 - 982 17,805
U.S. Treasury, general account 7,034 + 839 - 165 7,202
Foreign official 103 - 29 - 59 82
Service-related 10,293 - 4 - 763 10,293
Required clearing balances 10,293 - 4 - 537 10,293
Adjustments to compensate for float 0 0 - 226 0
Other 225 - 27 + 5 227
Other liabilities and capital 21,707 + 296 + 1,601 21,639
Total factors, other than reserve balances,
absorbing reserve funds 783,157 - 258 + 30,186 784,993
Reserve balances with Federal Reserve Banks 14,348 + 2,325 + 1,339 20,330
Memo (off-balance-sheet items):
Marketable securities held in custody for foreign
official and international accounts(2,7) 1,223,940 - 3,372 + 290,761 1,218,013
U.S. Treasury 990,103 - 3,382 + 240,373 987,036
Federal agency 233,837 + 10 + 50,387 230,978
Securities lent to dealers 980 + 54 - 377 1,591
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 23, 2004 Jun 16, 2004 Jun 25, 2003
Assets
Gold certificate account 11,041 0 + 1
Special drawing rights certificate account 2,200 0 0
Coin 754 + 10 - 187
Securities, repurchase agreements, and loans 717,342 + 13,175 + 33,243
Securities held outright 685,177 + 184 + 33,174
U.S. Treasury (1) 685,177 + 184 + 33,184
Bills (2) 252,094 + 172 + 13,259
Notes and bonds, nominal (2) 416,694 0 + 17,841
Notes and bonds, inflation-indexed (2) 14,464 0 + 1,650
Inflation compensation (3) 1,924 + 12 + 433
Federal agency (2) 0 0 - 10
Repurchase agreements (4) 32,000 + 13,000 0
Loans 165 - 9 + 70
Items in process of collection (889) 5,560 - 317 - 1,901
Bank premises 1,691 + 3 + 109
Other assets (5) 37,695 + 579 + 88
Total assets (889) 776,283 + 13,449 + 31,352
Liabilities
Federal Reserve notes net of FR Bank holdings 693,007 + 2,393 + 34,038
Reverse repurchase agreements (6) 17,465 - 506 - 4,127
Deposits (0) 38,169 + 11,523 + 1,183
Depository institutions 30,657 + 11,449 - 398
U.S. Treasury, general account 7,202 + 135 + 1,896
Foreign official 82 - 50 - 322
Other (0) 227 - 11 + 7
Deferred availability cash items (889) 6,002 - 356 - 1,361
Other liabilities and accrued dividends (7) 2,551 + 74 + 169
Total liabilities (889) 757,194 + 13,129 + 29,902
Capital Accounts
Capital paid in 9,224 + 5 + 567
Surplus 8,847 0 + 467
Other capital accounts 1,018 + 316 + 417
Total capital 19,089 + 321 + 1,450
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 23, 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 156 54,688 + 117 0 0 32,000 17,465
16 days to 90 days 9 153,424 + 48 0 0 0 0
91 days to 1 year 0 161,535 + 7 0 0 ------ ------
Over 1 to 5 years ------ 187,215 + 5 0 0 ------ ------
Over 5 to 10 years ------ 51,583 + 3 0 0 ------ ------
Over 10 years ------ 76,732 + 4 0 0 ------ ------
All 165 685,177 + 184 0 0 32,000 17,465
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 23, 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 754 26 30 40 36 70 80 89 58 24 47 144 111
Securities, repurchase agreements,
and loans 717,342 32,174 329,102 20,379 29,278 52,076 46,214 61,784 20,152 14,993 18,024 31,243 61,923
Securities held outright 685,177 32,174 297,102 20,379 29,278 52,076 46,207 61,720 20,130 14,945 18,005 31,241 61,921
U.S. Treasury (1) 685,177 32,174 297,102 20,379 29,278 52,076 46,207 61,720 20,130 14,945 18,005 31,241 61,921
Bills (2) 252,094 11,838 109,311 7,498 10,772 19,160 17,001 22,708 7,406 5,498 6,625 11,494 22,782
Notes and bonds(3) 433,083 20,336 187,791 12,881 18,506 32,916 29,206 39,011 12,724 9,446 11,381 19,746 39,139
Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Repurchase agreements(4) 32,000 0 32,000 0 0 0 0 0 0 0 0 0 0
Loans 165 0 0 0 0 0 7 64 22 49 18 3 2
Items in process of collection 6,449 369 332 309 324 375 894 405 403 363 329 257 2,090
Bank premises 1,691 96 192 52 154 145 278 135 53 124 75 207 181
Other assets(5) 37,695 1,703 13,588 1,128 2,303 5,914 2,142 3,395 976 1,110 776 965 3,696
Interdistrict settlement account 0 + 2,636 -28,908 + 3,081 - 224 + 1,610 + 6,267 + 599 + 353 - 578 + 1,700 + 3,394 +10,068
Total Assets 777,171 37,613 319,862 25,453 32,426 61,156 56,935 67,542 22,391 16,284 21,319 36,833 79,357
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 23, 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 812,668 37,625 318,136 31,383 33,529 60,315 69,761 67,691 23,615 15,510 23,400 41,961 89,742
Less: notes held by F.R. Banks 119,661 4,088 29,120 8,682 5,637 11,093 18,857 7,687 3,357 1,189 4,307 7,302 18,342
Federal Reserve notes, net 693,007 33,537 289,016 22,702 27,892 49,222 50,904 60,004 20,257 14,320 19,093 34,660 71,400
Reverse repurchase agreements (1) 17,465 820 7,573 519 746 1,327 1,178 1,573 513 381 459 796 1,578
Deposits 38,169 1,590 17,455 954 1,769 5,570 2,832 3,070 779 428 965 665 2,093
Depository institutions 30,657 1,587 10,038 953 1,765 5,498 2,831 3,067 776 426 963 664 2,089
U.S. Treasury, general account 7,202 0 7,202 0 0 0 0 0 0 0 0 0 0
Foreign official 82 2 59 1 2 7 2 3 1 1 1 0 4
Other 227 1 155 0 1 66 0 0 2 0 1 1 0
Deferred availability cash items 6,890 485 567 606 392 522 771 551 254 444 387 302 1,610
Other liabilities and accrued
dividends (2) 2,551 142 806 99 133 291 196 244 109 86 91 135 218
Total liabilities 758,083 36,574 315,417 24,880 30,932 56,933 55,881 65,441 21,912 15,659 20,995 36,558 76,900
Capital
Capital paid in 9,224 506 2,116 278 733 2,077 510 1,028 232 264 150 130 1,202
Surplus 8,847 448 2,031 259 727 2,074 489 924 228 346 162 111 1,048
Other capital 1,018 84 298 36 34 73 55 148 19 15 13 35 208
Total liabilities and capital 777,171 37,613 319,862 25,453 32,426 61,156 56,935 67,542 22,391 16,284 21,319 36,833 79,357
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 23, 2004
Federal Reserve notes outstanding 812,668
Less: Notes held by F.R. Banks
not subject to collateralization 119,661
Federal Reserve Notes to be
collateralized 693,007
Collateral held against Federal Reserve
notes 693,007
Gold certificate account 11,041
Special drawing rights
certificate account 2,200
U.S. Treasury and agency securities
pledged (1) 679,767
Other assets pledged 0
Memo:
Total U.S. Treasury and agency
securities (1) 717,177
Less:face value of securities under
reverse repurchase agreements 17,470
U.S. Treasury and agency securities
eligible to be pledged 699,707
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.
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