FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks November 26, 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 24, 2004 Nov 17, 2004 Nov 26, 2003 Nov 24, 2004 Federal Reserve Banks Reserve Bank Credit 779,872 + 1,289 + 50,680 790,416 Securities held outright 711,264 + 1,996 + 47,765 711,595 U.S. Treasury (1) 711,264 + 1,996 + 47,775 711,595 Bills (2) 260,864 + 1,132 + 17,670 261,190 Notes and bonds, nominal (2) 432,526 + 856 + 27,315 432,526 Notes and bonds, inflation-indexed (2) 15,683 0 + 2,229 15,683 Inflation compensation (3) 2,191 + 9 + 562 2,196 Federal agency (2) 0 0 - 10 0 Repurchase agreements(4) 28,607 + 1,500 + 1,214 39,000 Loans to depository institutions 76 - 435 + 30 72 Primary credit 5 - 426 0 1 Secondary credit 0 0 0 0 Seasonal credit 71 - 9 + 29 71 Float 510 - 243 + 448 90 Other Federal Reserve assets 39,414 - 1,529 + 1,222 39,658 Gold stock 11,043 0 0 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,377 + 14 + 973 36,377 Total factors supplying reserve funds 829,491 + 1,302 + 51,651 840,035 Currency in circulation(5) 749,783 + 1,358 + 40,958 754,255 Reverse repurchase agreements (6) 27,655 + 306 + 9,427 28,084 Foreign official and international accounts 27,655 + 306 + 9,427 28,084 Dealers 0 0 0 0 Treasury cash holdings 293 - 7 - 14 283 Deposits with F.R.Banks, other than reserve balances 14,759 - 452 - 2,975 14,918 U.S. Treasury, general account 4,419 - 405 - 804 4,575 Foreign official 82 - 11 - 3 84 Service-related 9,963 0 - 2,201 9,963 Required clearing balances 9,963 0 - 1,885 9,963 Adjustments to compensate for float 0 0 - 316 0 Other 294 - 37 + 31 296 Other liabilities and capital 25,367 + 825 + 4,695 25,191 Total factors, other than reserve balances, absorbing reserve funds 817,858 + 2,032 + 52,091 822,732 Reserve balances with Federal Reserve Banks 11,634 - 728 - 438 17,304 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,316,747 + 3,038 + 288,243 1,319,141 U.S. Treasury 1,061,211 - 1,062 + 242,453 1,060,830 Federal agency 255,535 + 4,099 + 45,789 258,311 Securities lent to dealers 4,319 + 2,293 + 2,650 457 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 24, 2004 Nov 17, 2004 Nov 26, 2003 Assets Gold certificate account 11,039 0 0 Special drawing rights certificate account 2,200 0 0 Coin 739 - 17 - 38 Securities, repurchase agreements, and loans 750,667 + 16,451 + 52,599 Securities held outright 711,595 + 1,461 + 47,070 U.S. Treasury (1) 711,595 + 1,461 + 47,080 Bills (2) 261,190 + 1,451 + 17,937 Notes and bonds, nominal (2) 432,526 0 + 26,353 Notes and bonds, inflation-indexed (2) 15,683 0 + 2,229 Inflation compensation (3) 2,196 + 10 + 562 Federal agency (2) 0 0 - 10 Repurchase agreements (4) 39,000 + 15,000 + 5,500 Loans 72 - 10 + 29 Items in process of collection (1,014) 7,047 - 1,181 - 260 Bank premises 1,753 + 6 + 148 Other assets (5) 37,958 + 635 + 1,094 Total assets (1,014) 811,403 + 15,894 + 53,544 Liabilities Federal Reserve notes net of FR Bank holdings 718,896 + 5,360 + 39,870 Reverse repurchase agreements (6) 28,084 + 355 + 10,129 Deposits (0) 32,275 + 10,210 - 679 Depository institutions 27,320 + 10,495 + 81 U.S. Treasury, general account 4,575 - 276 - 802 Foreign official 84 - 1 + 2 Other (0) 296 - 8 + 41 Deferred availability cash items (1,014) 6,957 - 315 - 563 Other liabilities and accrued dividends (7) 3,008 + 82 + 672 Total liabilities (1,014) 789,219 + 15,690 + 49,428 Capital Accounts Capital paid in 11,571 + 25 + 2,743 Surplus 8,847 0 + 467 Other capital accounts 1,765 + 177 + 905 Total capital 22,184 + 203 + 4,116 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 24, 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 66 51,078 - 79 0 0 35,000 28,084 16 days to 90 days 6 150,884 - 39 0 0 4,000 0 91 days to 1 year 0 173,321 + 1,570 0 0 ------ ------ Over 1 to 5 years ------ 206,678 + 3 0 0 ------ ------ Over 5 to 10 years ------ 54,001 + 3 0 0 ------ ------ Over 10 years ------ 75,633 + 3 0 0 ------ ------ All 72 711,595 + 1,461 0 0 39,000 28,084 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 24, 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 739 22 47 57 54 59 73 103 38 22 45 113 105 Securities, repurchase agreements, and loans 750,667 33,415 347,557 21,169 30,407 54,084 47,998 64,123 20,906 15,538 18,713 32,447 64,310 Securities held outright 711,595 33,415 308,557 21,165 30,407 54,084 47,988 64,099 20,906 15,521 18,699 32,445 64,309 U.S. Treasury (1) 711,595 33,415 308,557 21,165 30,407 54,084 47,988 64,099 20,906 15,521 18,699 32,445 64,309 Bills (2) 261,190 12,265 113,256 7,768 11,161 19,852 17,614 23,528 7,674 5,697 6,864 11,909 23,605 Notes and bonds(3) 450,405 21,150 195,302 13,396 19,246 34,233 30,374 40,572 13,232 9,824 11,836 20,536 40,704 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 39,000 0 39,000 0 0 0 0 0 0 0 0 0 0 Loans 72 0 0 5 0 0 10 24 0 17 13 2 1 Items in process of collection 8,061 351 336 589 659 528 621 543 355 559 921 366 2,232 Bank premises 1,753 99 193 52 154 144 278 147 63 123 79 244 178 Other assets(5) 37,958 1,728 13,412 1,057 2,399 6,159 2,151 3,451 1,002 1,148 771 917 3,763 Interdistrict settlement account 0 + 3,070 -33,640 + 4,598 - 132 + 2,561 +10,583 + 1,057 + 1,744 - 715 + 1,388 + 2,236 + 7,250 Total Assets 812,417 39,293 333,428 27,987 34,097 64,502 62,764 70,560 24,505 16,922 22,286 36,946 79,127 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 24, 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 841,267 37,686 327,685 32,850 34,676 65,720 73,331 72,645 25,210 16,491 24,544 41,585 88,845 Less: notes held by F.R. Banks 122,372 4,108 29,894 8,196 5,473 12,501 16,640 9,017 2,918 1,980 4,659 7,414 19,572 Federal Reserve notes, net 718,896 33,578 297,790 24,654 29,203 53,219 56,691 63,629 22,292 14,511 19,884 34,171 69,274 Reverse repurchase agreements (1) 28,084 1,319 12,178 835 1,200 2,135 1,894 2,530 825 613 738 1,281 2,538 Deposits 32,275 1,197 15,689 1,072 1,365 4,076 1,881 1,939 628 388 728 710 2,600 Depository institutions 27,320 1,189 10,869 1,071 1,362 3,975 1,878 1,936 621 386 726 709 2,597 U.S. Treasury, general account 4,575 0 4,575 0 0 0 0 0 0 0 0 0 0 Foreign official 84 2 61 1 2 7 2 3 1 1 1 0 4 Other 296 7 184 0 1 93 1 0 7 0 1 1 0 Deferred availability cash items 7,970 587 675 708 558 459 965 436 154 688 505 344 1,891 Other liabilities and accrued dividends (2) 3,008 186 1,000 113 155 330 234 272 124 97 104 149 245 Total liabilities 790,233 36,867 327,332 27,383 32,481 60,219 61,665 68,805 24,023 16,296 21,959 36,656 76,548 Capital Capital paid in 11,571 1,637 3,425 293 790 2,098 528 763 236 263 150 132 1,258 Surplus 8,847 448 2,031 259 727 2,074 489 924 228 346 162 111 1,048 Other capital 1,765 340 641 53 99 111 82 68 18 18 15 48 273 Total liabilities and capital 812,417 39,293 333,428 27,987 34,097 64,502 62,764 70,560 24,505 16,922 22,286 36,946 79,127 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 24, 2004 Federal Reserve notes outstanding 841,267 Less: Notes held by F.R. Banks not subject to collateralization 122,372 Federal Reserve Notes to be collateralized 718,896 Collateral held against Federal Reserve notes 718,896 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 705,657 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 750,595 Less:face value of securities under reverse repurchase agreements 28,154 U.S. Treasury and agency securities eligible to be pledged 722,441 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.