FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks November 4, 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 Nov 3, 2004 Oct 27, 2004 Nov 5, 2003 Nov 3, 2004 Federal Reserve Banks Reserve Bank Credit 773,351 + 2,748 + 48,246 770,798 Securities held outright 707,023 + 1,858 + 48,210 708,130 U.S. Treasury (1) 707,023 + 1,858 + 48,220 708,130 Bills (2) 259,320 + 203 + 16,887 259,393 Notes and bonds, nominal (2) 430,297 + 1,652 + 28,975 431,328 Notes and bonds, inflation-indexed (2) 15,262 0 + 1,808 15,262 Inflation compensation (3) 2,144 + 3 + 551 2,147 Federal agency (2) 0 0 - 10 0 Repurchase agreements(4) 24,286 + 286 + 286 20,250 Loans to depository institutions 115 - 83 - 20 82 Primary credit 8 - 43 - 74 0 Secondary credit 0 0 0 0 Seasonal credit 107 - 40 + 54 81 Float 328 + 188 - 1,139 669 Other Federal Reserve assets 41,599 + 499 + 909 41,667 Gold stock 11,043 0 0 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,337 + 14 + 1,024 36,337 Total factors supplying reserve funds 822,932 + 2,763 + 49,270 820,378 Currency in circulation(5) 742,528 + 1,840 + 39,289 744,872 Reverse repurchase agreements (6) 26,844 + 547 + 6,956 26,512 Foreign official and international accounts 26,844 + 547 + 7,920 26,512 Dealers 0 0 - 964 0 Treasury cash holdings 300 - 1 - 89 303 Deposits with F.R.Banks, other than reserve balances 16,262 + 448 - 1,551 15,996 U.S. Treasury, general account 5,275 + 327 - 405 4,971 Foreign official 85 - 1 - 111 82 Service-related 10,571 + 82 - 1,074 10,571 Required clearing balances 10,571 + 83 - 772 10,571 Adjustments to compensate for float 0 0 - 301 0 Other 331 + 40 + 38 372 Other liabilities and capital 23,879 - 223 + 3,854 23,626 Total factors, other than reserve balances, absorbing reserve funds 809,814 + 2,612 + 48,461 811,308 Reserve balances with Federal Reserve Banks 13,118 + 151 + 810 9,070 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,300,799 + 1,718 + 298,845 1,304,336 U.S. Treasury 1,052,605 + 1,399 + 253,578 1,057,454 Federal agency 248,193 + 319 + 45,266 246,882 Securities lent to dealers 441 - 1,112 - 1,119 775 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 Nov 3, 2004 Oct 27, 2004 Nov 5, 2003 Assets Gold certificate account 11,039 0 0 Special drawing rights certificate account 2,200 0 0 Coin 779 + 12 - 50 Securities, repurchase agreements, and loans 728,462 - 2,158 + 50,528 Securities held outright 708,130 + 1,400 + 49,245 U.S. Treasury (1) 708,130 + 1,400 + 49,255 Bills (2) 259,393 + 192 + 16,893 Notes and bonds, nominal (2) 431,328 + 1,203 + 30,006 Notes and bonds, inflation-indexed (2) 15,262 0 + 1,808 Inflation compensation (3) 2,147 + 5 + 548 Federal agency (2) 0 0 - 10 Repurchase agreements (4) 20,250 - 3,500 + 1,250 Loans 82 - 58 + 33 Items in process of collection (1,034) 7,714 + 1,084 - 4,686 Bank premises 1,741 - 7 + 143 Other assets (5) 39,969 + 312 + 954 Total assets (1,034) 791,903 - 758 + 46,888 Liabilities Federal Reserve notes net of FR Bank holdings 709,612 + 2,461 + 38,763 Reverse repurchase agreements (6) 26,512 + 751 + 5,511 Deposits (0) 25,109 - 4,836 + 149 Depository institutions 19,684 - 5,263 + 117 U.S. Treasury, general account 4,971 + 389 + 356 Foreign official 82 - 31 - 376 Other (0) 372 + 69 + 52 Deferred availability cash items (1,034) 7,045 + 849 - 1,319 Other liabilities and accrued dividends (7) 2,949 + 100 + 672 Total liabilities (1,034) 771,227 - 675 + 43,776 Capital Accounts Capital paid in 10,544 + 17 + 1,790 Surplus 8,847 0 + 512 Other capital accounts 1,285 - 100 + 810 Total capital 20,676 - 84 + 3,112 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 3, 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 17 56,199 + 20,307 0 0 20,250 26,512 16 days to 90 days 65 152,081 - 18,225 0 0 0 0 91 days to 1 year 0 168,281 - 1,082 0 0 ------ ------ Over 1 to 5 years ------ 203,789 + 280 0 0 ------ ------ Over 5 to 10 years ------ 51,060 + 118 0 0 ------ ------ Over 10 years ------ 76,720 + 2 0 0 ------ ------ All 82 708,130 + 1,400 0 0 20,250 26,512 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 3, 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 779 21 46 54 53 70 81 113 40 23 50 118 109 Securities, repurchase agreements, and loans 728,462 33,252 327,305 21,066 30,258 53,821 47,765 63,804 20,805 15,475 18,625 32,289 63,996 Securities held outright 708,130 33,252 307,055 21,062 30,258 53,821 47,754 63,787 20,804 15,445 18,608 32,287 63,996 U.S. Treasury (1) 708,130 33,252 307,055 21,062 30,258 53,821 47,754 63,787 20,804 15,445 18,608 32,287 63,996 Bills (2) 259,393 12,180 112,476 7,715 11,084 19,715 17,493 23,366 7,621 5,658 6,816 11,827 23,442 Notes and bonds(3) 448,737 21,072 194,578 13,347 19,175 34,106 30,262 40,422 13,183 9,788 11,792 20,460 40,554 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 20,250 0 20,250 0 0 0 0 0 0 0 0 0 0 Loans 82 0 0 4 0 0 11 17 1 30 17 2 0 Items in process of collection 8,748 448 476 382 612 524 780 836 510 538 726 304 2,610 Bank premises 1,741 98 190 52 154 144 278 147 61 123 78 238 179 Other assets(5) 39,969 1,820 14,408 1,116 2,455 6,231 2,295 3,620 1,051 1,179 833 1,030 3,931 Interdistrict settlement account 0 + 3,662 -28,421 + 3,680 - 486 + 1,029 + 9,406 + 42 + 1,464 - 741 + 1,623 + 2,158 + 6,584 Total Assets 792,937 39,910 319,527 26,815 33,604 62,785 61,666 69,698 24,327 16,846 22,302 36,760 78,697 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 3, 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 836,243 37,781 324,350 33,048 34,780 65,330 72,990 71,251 25,329 16,174 24,519 41,895 88,797 Less: notes held by F.R. Banks 126,631 4,367 32,505 8,800 5,692 12,002 17,453 8,843 3,151 1,647 4,701 7,827 19,643 Federal Reserve notes, net 709,612 33,414 291,845 24,248 29,088 53,328 55,536 62,408 22,178 14,527 19,819 34,068 69,153 Reverse repurchase agreements (1) 26,512 1,245 11,496 789 1,133 2,015 1,788 2,388 779 578 697 1,209 2,396 Deposits 25,109 2,114 9,838 636 1,188 2,406 2,138 2,051 596 407 898 713 2,124 Depository institutions 19,684 2,108 4,629 635 1,185 2,221 2,136 2,047 588 405 896 713 2,121 U.S. Treasury, general account 4,971 0 4,971 0 0 0 0 0 0 0 0 0 0 Foreign official 82 2 58 1 2 7 2 3 1 1 1 0 4 Other 372 5 179 0 0 178 0 1 8 0 1 0 0 Deferred availability cash items 8,079 623 894 439 508 477 898 495 166 625 467 350 2,136 Other liabilities and accrued dividends (2) 2,949 175 918 107 145 312 222 265 116 91 103 147 347 Total liabilities 772,261 37,572 314,990 26,219 32,062 58,538 60,583 67,607 23,835 16,227 21,983 36,488 76,157 Capital Capital paid in 10,544 1,634 2,165 292 762 2,098 527 1,028 241 263 149 132 1,255 Surplus 8,847 448 2,031 259 727 2,074 489 924 228 346 162 111 1,048 Other capital 1,285 256 342 45 52 76 67 140 23 10 8 30 237 Total liabilities and capital 792,937 39,910 319,527 26,815 33,604 62,785 61,666 69,698 24,327 16,846 22,302 36,760 78,697 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 3, 2004 Federal Reserve notes outstanding 836,243 Less: Notes held by F.R. Banks not subject to collateralization 126,631 Federal Reserve Notes to be collateralized 709,612 Collateral held against Federal Reserve notes 709,612 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 696,373 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 728,380 Less:face value of securities under reverse repurchase agreements 26,526 U.S. Treasury and agency securities eligible to be pledged 701,854 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.