Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date: May 13, 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
                                                                                               May 13, 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           May 12, 2004  May 5, 2004 May 14, 2003 May 12, 2004
Federal Reserve Banks

Reserve Bank Credit                                         741,313    -     816    +  26,969      745,174
 Securities held outright                                   677,826    +      88    +  30,009      677,835       
    U.S. Treasury (1)                                       677,826    +      88    +  30,019      677,835
       Bills (2)                                            250,163    +      62    +  13,409      250,163
       Notes and bonds, nominal (2)                         411,388            0    +  14,612      411,388
       Notes and bonds, inflation-indexed (2)                14,464            0    +   1,650       14,464
       Inflation compensation (3)                             1,811    +      26    +     348        1,820
    Federal agency (2)                                            0            0    -      10            0      
 Repurchase agreements(4)                                    23,071    -   1,393    -   2,573       27,250
 Loans to depository institutions                               110    +      22    +      59          176
    Primary credit                                               16    +      10    +      14           80
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              93    +      11    +      44           96
 Float                                                         -381    +     363    -     374         -853
 Other Federal Reserve assets                                40,687    +     105    -     152       40,766
Gold stock                                                   11,045            0    +       2       11,045
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            35,741    +      14    +     816       35,741
       
Total factors supplying reserve funds                       790,299    -     803    +  27,788      794,160
                                                                   
Currency in circulation(5)                                  719,430    +   1,040    +  29,708      720,707
Reverse repurchase agreements (6)                            19,805    -   1,672    -     836       18,711
   Foreign official and international accounts               19,805    -   1,672    -     836       18,711
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          310    -       9    -      33          323
Deposits with F.R.Banks, other than reserve balances         16,370    -     681    -   2,405       15,852       
  U.S. Treasury, general account                              5,435    -     590    -   1,704        4,949
  Foreign official                                              103    -      27    +      17           83
  Service-related                                            10,562    -       1    -     729       10,562
     Required clearing balances                              10,562    -       1    -     320       10,562
     Adjustments to compensate for float                          0            0    -     409            0
  Other                                                         270    -      62    +      11          259
Other liabilities and capital                                20,831    -      91    +     393       20,548

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  776,746    -   1,413    +  26,826      776,141

Reserve balances with Federal Reserve Banks                  13,553    +     610    +     961       18,019
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,192,733    -   1,625    + 295,942    1,191,675
     U.S. Treasury                                          963,435    -   1,300    + 249,086      962,080
     Federal agency                                         229,298    -     325    +  46,856      229,595
  Securities lent to dealers                                  1,062    -   2,651    +     539        2,033   


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 May 12, 2004      May 5, 2004     May 14, 2003

Assets
Gold certificate account                                        11,041                0        +       2
Special drawing rights certificate account                       2,200                0                0
Coin                                                               777        -      22        -     206
Securities, repurchase agreements, and loans                   705,261        +   7,353        +  26,502
   Securities held outright                                    677,835        +      24        +  29,888
      U.S. Treasury (1)                                        677,835        +      24        +  29,898       
         Bills (2)                                             250,163                0        +  13,286
         Notes and bonds, nominal (2)                          411,388                0        +  14,612
         Notes and bonds, inflation-indexed (2)                 14,464                0        +   1,650
         Inflation compensation (3)                              1,820        +      24        +     350
      Federal agency (2)                                             0                0        -      10
   Repurchase agreements (4)                                    27,250        +   7,250        -   3,502    
   Loans                                                           176        +      79        +     116
Items in process of collection                      (975)        5,728        -   1,115        -   1,350
Bank premises                                                    1,672                0        +      92
Other assets (5)                                                39,032        -     215        -     638
      Total assets                                  (975)      765,711        +   6,000        +  24,402
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  686,061        +     437        +  28,665
Reverse repurchase agreements (6)                               18,711        -   1,942        -   2,362
Deposits                                              (0)       33,811        +   8,637        -   1,377       
  Depository institutions                                       28,521        +   9,669        +     918
  U.S. Treasury, general account                                 4,949        -   1,011        -   2,250
  Foreign official                                                  83        -       4        -      39
  Other                                               (0)          259        -      16        -       5
Deferred availability cash items                    (975)        6,579        -     561        -   1,020
Other liabilities and accrued dividends (7)                      2,317        +      46        -      16
      Total liabilities                             (975)      747,481        +   6,618        +  23,892
                          
Capital Accounts
Capital paid in                                                  9,072        +      33        +     504
Surplus                                                          8,808        -      39        +     428
Other capital accounts                                             350        -     613        -     422
      Total capital                                             18,230        -     619        +     510


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,       May 12, 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              86       58,947   +     555            0           0       27,250       18,711
16 days to 90 days          90      146,308   +      41            0           0            0            0
91 days to 1 year            0      160,187   -     595            0           0     ------      ------
Over 1 to 5 years     ------        184,881   +       9            0           0     ------      ------
Over 5 to 10 years    ------         50,033   +       6            0           0     ------      ------
Over 10 years         ------         77,479   +       9            0           0     ------      ------
                   		 	
All                        176      677,835   +      24            0           0       27,250      18,711

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       May 12, 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                                             777         37         33         49         37         73         76        103         52         29         46        141        101
Securities, repurchase agreements,
      and loans                              705,261     31,832    321,168     20,161     29,041     51,518     45,714     61,096     19,929     14,817     17,818     30,906     61,260
   Securities held outright                  677,835     31,829    293,918     20,160     28,964     51,518     45,711     61,058     19,914     14,784     17,812     30,906     61,258
      U.S. Treasury (1)                      677,835     31,829    293,918     20,160     28,964     51,518     45,711     61,058     19,914     14,784     17,812     30,906     61,258
         Bills (2)                           250,163     11,747    108,474      7,440     10,689     19,013     16,870     22,534      7,350      5,456      6,574     11,406     22,608
         Notes and bonds(3)                  427,672     20,082    185,444     12,720     18,274     32,505     28,841     38,524     12,565      9,328     11,238     19,500     38,650
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                27,250          0     27,250          0          0          0          0          0          0          0          0          0          0
      Loans                                      176          3          0          1         77          0          3         38         14         33          6          0          2
Items in process of collection                 6,703        328        376        462        390        362        646        285        373        436        422        370      2,252
Bank premises                                  1,672         96        191         52        153        145        278        129         50        124         74        199        180
Other assets(5)                               39,032      1,770     14,245      1,142      2,347      5,940      2,252      3,508      1,027      1,138        819      1,041      3,805
Interdistrict settlement account                   0    + 3,218    -18,797    + 2,111    -   649    - 1,808    +   313    +   297    +   435    -   397    + 1,438    + 3,775    +10,064
          Total Assets                       766,686     37,890    322,741     24,442     31,874     57,197     50,339     66,554     22,261     16,395     20,985     37,056     78,951

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       May 12, 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             807,594     38,365    321,524     30,247     32,067     59,438     64,907     68,147     23,478     15,617     22,904     41,632     89,269
  Less: notes held by F.R. Banks              121,533      4,468     30,376      8,397      5,519     10,856     19,828      7,759      3,330      1,324      4,024      6,990     18,663
    Federal Reserve notes, net                686,061     33,897    291,148     21,850     26,548     48,582     45,079     60,387     20,148     14,293     18,880     34,642     70,606
Reverse repurchase agreements (1)              18,711        879      8,114        557        800      1,422      1,262      1,686        550        408        492        853      1,691
Deposits                                       33,811      1,469     17,826        920      2,489      2,351      1,961      1,834        729        452        809        795      2,177
  Depository institutions                      28,521      1,465     12,661        919      2,486      2,251      1,959      1,830        727        450        807        794      2,173
  U.S. Treasury, general account                4,949          0      4,949          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 83          2         60          1          2          7          2          3          1          1          1          0          4
  Other                                           259          3        158          0          1         93          0          1          1          0          1          0          0
Deferred availability cash items                7,555        529        674        471        440        483        851        574        266        544        400        381      1,942
Other liabilities and accrued                 
  dividends (2)                                 2,317        133        719         94        121        260        188        218        105         82         86        121        191
   
    Total liabilities                         748,456     36,907    318,480     23,891     30,398     53,098     49,342     64,699     21,798     15,779     20,666     36,791     76,606
                              
Capital                    
Capital paid in                                 9,072        499      2,109        278        738      2,063        502        913        232        266        153        127      1,193
Surplus                                         8,808        448      2,031        259        727      2,035        489        924        228        346        162        111      1,048
Other capital                                     350         36        121         14         12          0          6         18          3          6          3         27        104
     Total liabilities and capital            766,686     37,890    322,741     24,442     31,874     57,197     50,339     66,554     22,261     16,395     20,985     37,056     78,951
                              

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
                                          May 12, 2004
              
Federal Reserve notes outstanding             807,594
   Less: Notes held by F.R. Banks
         not subject to collateralization     121,533
      Federal Reserve Notes to be
         collateralized                       686,061 
Collateral held against Federal Reserve            
   notes                                      686,061
   Gold certificate account                    11,041
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              672,820
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         705,085
   Less:face value of securities under
         reverse repurchase agreements         18,715
      U.S. Treasury and agency securities
             eligible to be pledged           686,369
   

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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