FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks October 9, 2003 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 8, 2003 Oct 1, 2003 Oct 9, 2002 Oct 8, 2003 Federal Reserve Banks Reserve Bank Credit 715,038 - 12,141 + 59,396 716,049 Securities held outright 656,242 + 123 + 47,122 656,280 U.S. Treasury (1) 656,232 + 123 + 47,122 656,270 Bills (2) 241,639 + 112 + 34,517 241,672 Notes and bonds, nominal (2) 399,595 0 + 11,029 399,595 Notes and bonds, inflation-indexed (2) 13,454 0 + 1,212 13,454 Inflation compensation (3) 1,543 + 10 + 363 1,548 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 19,250 - 12,857 + 11,821 19,750 Loans to depository institutions 127 - 51 - 54 115 Primary credit 2 - 21 + 2 5 Secondary credit 0 0 0 0 Seasonal credit 125 - 30 - 11 109 Adjustment credit 0 0 - 45 0 Float -287 + 328 - 727 -143 Other Federal Reserve assets 39,705 + 316 + 1,232 40,048 Gold stock 11,043 0 + 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 35,271 + 14 + 942 35,271 Total factors supplying reserve funds 763,552 - 12,127 + 60,339 764,563 Currency in circulation(5) 698,979 + 2,213 + 37,296 701,252 Reverse repurchase agreements (6) 19,322 - 2,062 + 19,322 18,951 Foreign official and international accounts 19,322 - 2,062 + 19,322 18,951 Dealers 0 0 0 0 Treasury cash holdings 358 + 15 - 18 371 Deposits with F.R.Banks, other than reserve balances 17,090 - 2,049 + 1,325 16,805 U.S. Treasury, general account 5,185 - 1,737 + 79 4,935 Foreign official 105 - 354 - 11 81 Service-related 11,456 - 59 + 1,165 11,456 Required clearing balances 11,252 + 27 + 1,254 11,252 Adjustments to compensate for float 204 - 86 - 89 204 Other 345 + 102 + 93 334 Other liabilities and capital 20,578 - 337 + 1,052 20,295 Total factors, other than reserve balances, absorbing reserve funds 756,328 - 2,220 + 58,978 757,675 Reserve balances with Federal Reserve Banks 7,224 - 9,907 + 1,361 6,888 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 991,768 + 18,238 ------ 990,790 U.S. Treasury 798,667 + 16,941 ------ 798,517 Federal agency 193,101 + 1,297 ------ 192,272 Securities lent to dealers 2,338 - 1,351 + 1,275 2,998 Note: Components may not sum to totals because of rounding. --- Not available. 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 8, 2003 Oct 1, 2003 Oct 9, 2002 Assets Gold certificate account 11,039 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 826 - 13 - 246 Securities, repurchase agreements, and loans 676,145 - 16,952 + 59,482 Securities held outright 656,280 + 84 + 46,754 U.S. Treasury (1) 656,270 + 84 + 46,754 Bills (2) 241,672 + 71 + 34,150 Notes and bonds, nominal (2) 399,595 0 + 11,029 Notes and bonds, inflation-indexed (2) 13,454 0 + 1,212 Inflation compensation (3) 1,548 + 13 + 363 Federal agency (2) 10 0 0 Repurchase agreements (4) 19,750 - 17,000 + 12,750 Loans 115 - 36 - 22 Items in process of collection (985) 7,751 + 352 + 234 Bank premises 1,595 + 1 + 72 Other assets (5) 38,441 + 565 + 1,251 Total assets (985) 737,996 - 16,049 + 60,793 Liabilities Federal Reserve notes net of FR Bank holdings 667,174 + 2,362 + 36,474 Reverse repurchase agreements (6) 18,951 - 3,139 + 18,951 Deposits (0) 23,618 - 14,930 + 3,815 Depository institutions 18,268 - 14,526 + 3,199 U.S. Treasury, general account 4,935 + 13 + 534 Foreign official 81 - 415 + 5 Other (0) 334 - 2 + 76 Deferred availability cash items (985) 7,958 - 240 + 680 Other liabilities and accrued dividends (7) 2,247 + 37 - 207 Total liabilities (985) 719,949 - 15,908 + 59,715 Capital Accounts Capital paid in 8,747 + 1 + 479 Surplus 8,380 0 + 1,068 Other capital accounts 920 - 141 - 469 Total capital 18,048 - 139 + 1,080 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 collatealized 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 8, 2003 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 24 45,442 - 292 0 0 19,750 18,951 16 days to 90 days 91 146,740 + 8,303 10 0 0 0 91 days to 1 year 0 158,422 - 7,940 0 0 ------ ------ Over 1 to 5 years ------ 176,907 + 3 0 0 ------ ------ Over 5 to 10 years ------ 51,664 + 4 0 0 ------ ------ Over 10 years ------ 77,095 + 5 0 0 ------ ------ All 115 656,270 + 84 10 0 19,750 18,951 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 8, 2003 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 11,039 495 4,706 380 477 808 863 982 331 224 303 507 963 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 826 26 39 36 35 98 106 101 56 27 48 153 100 Securities, repurchase agreements, and loans 676,145 31,728 300,528 20,518 30,757 50,470 44,339 66,347 20,669 14,685 17,657 25,719 52,728 Securities held outright 656,280 31,728 280,778 20,518 30,752 50,470 44,336 66,317 20,647 14,649 17,637 25,719 52,728 U.S. Treasury (1) 656,270 31,728 280,773 20,518 30,751 50,469 44,335 66,316 20,647 14,649 17,637 25,719 52,728 Bills (2) 241,672 11,684 103,395 7,556 11,324 18,585 16,326 24,421 7,603 5,394 6,495 9,471 19,417 Notes and bonds(3) 414,597 20,044 177,378 12,962 19,427 31,884 28,009 41,895 13,044 9,254 11,142 16,248 33,311 Federal agency (2) 10 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements(4) 19,750 0 19,750 0 0 0 0 0 0 0 0 0 0 Loans 115 0 0 0 5 0 4 29 22 36 20 0 0 Items in process of collection 8,735 634 727 483 369 659 805 647 443 477 501 207 2,783 Bank premises 1,595 91 189 52 150 143 277 120 43 125 54 172 176 Other assets(5) 38,441 1,779 13,743 1,094 2,432 6,135 2,228 3,581 986 1,154 913 1,095 3,302 Interdistrict settlement account 0 - 1,323 + 5,599 - 1,684 - 1,985 - 1,312 + 1,408 - 6,638 - 1,545 - 318 - 784 + 2,810 + 5,772 Total Assets 738,981 33,545 326,404 20,962 32,340 57,149 50,193 65,352 21,054 16,405 18,758 30,761 66,060 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 8, 2003 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 788,857 35,504 329,190 27,577 33,153 59,254 64,160 66,852 23,527 15,797 21,556 36,310 75,977 Less: notes held by F.R. Banks 121,683 5,503 24,932 9,130 5,507 10,354 18,680 10,537 4,487 1,677 4,838 8,010 18,028 Federal Reserve notes, net 667,174 30,001 304,258 18,447 27,646 48,900 45,481 56,314 19,040 14,120 16,718 28,299 57,950 Reverse repurchase agreements (1) 18,951 916 8,108 592 888 1,457 1,280 1,915 596 423 509 743 1,523 Deposits 23,618 994 8,110 882 1,724 1,674 1,344 4,285 578 504 623 788 2,111 Depository institutions 18,268 986 2,958 881 1,721 1,510 1,343 4,282 570 503 621 787 2,107 U.S. Treasury, general account 4,935 0 4,935 0 0 0 0 0 0 0 0 0 0 Foreign official 81 2 57 1 3 7 2 3 1 1 1 1 3 Other 334 7 160 0 0 156 0 0 8 0 1 1 0 Deferred availability cash items 8,943 584 1,033 421 521 656 917 721 266 562 408 430 2,425 Other liabilities and accrued dividends (2) 2,247 130 692 93 121 246 179 227 101 87 87 113 171 Total liabilities 720,933 32,625 322,200 20,436 30,900 52,933 49,201 63,462 20,582 15,696 18,346 30,372 64,179 Capital Capital paid in 8,747 448 1,998 255 705 2,073 478 917 228 348 196 184 918 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 920 36 398 38 32 70 38 115 45 21 15 18 95 Total liabilities and capital 738,981 33,545 326,404 20,962 32,340 57,149 50,193 65,352 21,054 16,405 18,758 30,761 66,060 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 8, 2003 Federal Reserve notes outstanding 788,857 Less: Notes held by F.R. Banks not subject to collateralization 117,173 Federal Reserve Notes to be collateralized 671,685 Collateral held against Federal Reserve notes 671,685 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 657,075 Other eligible assets 1,371 Memo: Total U.S. Treasury and agency securities (1) 676,030 Less:face value of securities under reverse repurchase agreements 18,955 U.S. Treasury and agency securities eligible to be pledged 657,075 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.