FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks October 21, 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 20, 2004 Oct 13, 2004 Oct 22, 2003 Oct 20, 2004 Federal Reserve Banks Reserve Bank Credit 770,529 + 1,756 + 49,424 765,776 Securities held outright 702,661 + 1,059 + 46,036 702,813 U.S. Treasury (1) 702,661 + 1,059 + 46,046 702,813 Bills (2) 259,068 + 204 + 17,071 259,078 Notes and bonds, nominal (2) 426,191 + 852 + 26,596 426,333 Notes and bonds, inflation-indexed (2) 15,262 0 + 1,808 15,262 Inflation compensation (3) 2,139 + 2 + 570 2,140 Federal agency (2) 0 0 - 10 0 Repurchase agreements(4) 26,964 - 107 + 2,393 21,250 Loans to depository institutions 173 - 20 + 73 179 Primary credit 5 0 - 9 24 Secondary credit 0 0 0 0 Seasonal credit 168 - 20 + 82 154 Float 389 + 526 + 737 956 Other Federal Reserve assets 40,342 + 298 + 186 40,578 Gold stock 11,043 0 0 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,309 + 14 + 1,012 36,309 Total factors supplying reserve funds 820,082 + 1,770 + 50,436 815,328 Currency in circulation(5) 741,404 - 1,167 + 38,771 741,973 Reverse repurchase agreements (6) 25,431 + 548 + 6,798 25,843 Foreign official and international accounts 25,431 + 548 + 6,798 25,843 Dealers 0 0 0 0 Treasury cash holdings 299 + 4 - 90 302 Deposits with F.R.Banks, other than reserve balances 16,130 + 341 - 1,085 15,651 U.S. Treasury, general account 5,232 + 550 - 171 4,785 Foreign official 99 + 12 + 2 76 Service-related 10,491 - 231 - 934 10,491 Required clearing balances 10,491 - 231 - 751 10,491 Adjustments to compensate for float 0 0 - 184 0 Other 308 + 10 + 19 299 Other liabilities and capital 23,880 + 230 + 3,644 23,765 Total factors, other than reserve balances, absorbing reserve funds 807,145 - 44 + 48,040 807,534 Reserve balances with Federal Reserve Banks 12,936 + 1,813 + 2,396 7,794 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,294,242 + 6,052 + 298,846 1,293,987 U.S. Treasury 1,047,623 + 3,352 + 248,587 1,050,357 Federal agency 246,618 + 2,699 + 50,258 243,630 Securities lent to dealers 373 - 460 - 1,542 1,836 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 20, 2004 Oct 13, 2004 Oct 22, 2003 Assets Gold certificate account 11,039 0 0 Special drawing rights certificate account 2,200 0 0 Coin 758 + 10 - 52 Securities, repurchase agreements, and loans 724,242 - 7,811 + 41,884 Securities held outright 702,813 + 1,196 + 46,049 U.S. Treasury (1) 702,813 + 1,196 + 46,059 Bills (2) 259,078 + 200 + 16,947 Notes and bonds, nominal (2) 426,333 + 994 + 26,738 Notes and bonds, inflation-indexed (2) 15,262 0 + 1,808 Inflation compensation (3) 2,140 + 2 + 566 Federal agency (2) 0 0 - 10 Repurchase agreements (4) 21,250 - 9,000 - 4,250 Loans 179 - 7 + 85 Items in process of collection (1,139) 7,412 - 3,188 - 193 Bank premises 1,735 + 3 + 138 Other assets (5) 38,894 + 455 + 42 Total assets (1,139) 786,279 - 10,532 + 41,817 Liabilities Federal Reserve notes net of FR Bank holdings 706,719 - 1,427 + 37,512 Reverse repurchase agreements (6) 25,843 + 858 + 7,732 Deposits (0) 23,503 - 7,789 - 5,800 Depository institutions 18,343 - 7,104 - 5,459 U.S. Treasury, general account 4,785 - 681 - 338 Foreign official 76 - 10 - 23 Other (0) 299 + 7 + 20 Deferred availability cash items (1,139) 6,449 - 2,460 - 1,064 Other liabilities and accrued dividends (7) 2,797 - 108 + 534 Total liabilities (1,139) 765,311 - 10,926 + 38,913 Capital Accounts Capital paid in 10,523 + 12 + 1,789 Surplus 8,847 0 + 467 Other capital accounts 1,598 + 381 + 648 Total capital 20,968 + 394 + 2,905 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 20, 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 176 50,635 + 5,983 0 0 21,250 25,843 16 days to 90 days 2 155,425 - 5,709 0 0 0 0 91 days to 1 year 0 167,785 + 729 0 0 ------ ------ Over 1 to 5 years ------ 202,112 + 171 0 0 ------ ------ Over 5 to 10 years ------ 50,539 + 21 0 0 ------ ------ Over 10 years ------ 76,317 + 1 0 0 ------ ------ All 179 702,813 + 1,196 0 0 21,250 25,843 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 20, 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 758 16 44 47 44 71 86 101 48 22 47 121 110 Securities, repurchase agreements, and loans 724,242 33,006 325,999 20,912 30,031 53,417 47,410 63,348 20,659 15,384 18,493 32,047 63,535 Securities held outright 702,813 33,002 304,749 20,903 30,031 53,417 47,396 63,308 20,648 15,329 18,469 32,045 63,515 U.S. Treasury (1) 702,813 33,002 304,749 20,903 30,031 53,417 47,396 63,308 20,648 15,329 18,469 32,045 63,515 Bills (2) 259,078 12,166 112,340 7,706 11,070 19,691 17,472 23,337 7,611 5,651 6,808 11,813 23,414 Notes and bonds(3) 443,736 20,837 192,410 13,198 18,961 33,726 29,924 39,971 13,037 9,678 11,661 20,232 40,102 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 21,250 0 21,250 0 0 0 0 0 0 0 0 0 0 Loans 179 4 0 8 0 0 14 40 12 55 24 3 20 Items in process of collection 8,551 428 784 452 791 410 558 650 756 501 693 301 2,227 Bank premises 1,735 98 191 52 154 144 278 145 60 123 78 230 180 Other assets(5) 38,894 1,769 14,009 1,085 2,398 6,090 2,225 3,518 1,024 1,149 805 995 3,826 Interdistrict settlement account 0 + 2,867 -30,531 + 4,018 - 46 + 1,601 + 9,595 - 702 + 1,208 - 638 + 1,782 + 2,695 + 8,153 Total Assets 787,418 38,794 316,020 27,030 33,929 62,699 61,211 68,196 24,152 16,790 22,266 37,012 79,320 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 20, 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 832,939 37,831 321,316 33,235 34,812 65,028 73,342 70,001 25,312 16,077 24,615 42,155 89,214 Less: notes held by F.R. Banks 126,220 4,269 32,843 8,908 5,624 12,080 17,446 8,786 3,306 1,547 4,659 7,781 18,972 Federal Reserve notes, net 706,719 33,562 288,473 24,327 29,189 52,948 55,896 61,215 22,006 14,531 19,956 34,374 70,242 Reverse repurchase agreements (1) 25,843 1,214 11,206 769 1,104 1,964 1,743 2,328 759 564 679 1,178 2,336 Deposits 23,503 1,021 10,057 675 1,121 2,731 1,441 1,794 589 413 757 713 2,191 Depository institutions 18,343 1,016 5,049 674 1,117 2,607 1,437 1,790 586 412 755 712 2,187 U.S. Treasury, general account 4,785 0 4,785 0 0 0 0 0 0 0 0 0 0 Foreign official 76 2 53 1 2 7 2 3 1 1 1 0 4 Other 299 3 170 0 1 118 2 1 2 0 1 0 0 Deferred availability cash items 7,588 532 753 548 796 441 822 461 177 558 443 322 1,733 Other liabilities and accrued dividends (2) 2,797 170 909 107 141 293 233 261 116 91 100 142 234 Total liabilities 766,450 36,498 311,398 26,426 32,351 58,378 60,135 66,059 23,647 16,157 21,935 36,729 76,736 Capital Capital paid in 10,523 1,634 2,164 292 762 2,095 518 1,027 240 263 149 130 1,248 Surplus 8,847 448 2,031 259 727 2,074 489 924 228 346 162 111 1,048 Other capital 1,598 213 426 53 88 152 70 186 37 25 19 42 287 Total liabilities and capital 787,418 38,794 316,020 27,030 33,929 62,699 61,211 68,196 24,152 16,790 22,266 37,012 79,320 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 20, 2004 Federal Reserve notes outstanding 832,939 Less: Notes held by F.R. Banks not subject to collateralization 126,220 Federal Reserve Notes to be collateralized 706,719 Collateral held against Federal Reserve notes 706,719 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 693,480 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 724,063 Less:face value of securities under reverse repurchase agreements 25,856 U.S. Treasury and agency securities eligible to be pledged 698,207 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.