FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks August 14, 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 Aug 13, 2003 Aug 6, 2003 Aug 14, 2002 Aug 13, 2003 Federal Reserve Banks Reserve Bank Credit 711,825 - 4,153 + 58,365 715,474 Securities held outright 653,072 + 76 + 52,845 653,288 U.S. Treasury (1) 653,062 + 76 + 52,845 653,278 Bills (2) 239,927 + 72 + 38,118 240,142 Notes and bonds, nominal (2) 398,853 0 + 13,840 398,853 Notes and bonds, inflation-indexed (2) 12,814 0 + 572 12,814 Inflation compensation (3) 1,467 + 3 + 314 1,469 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 17,679 - 4,821 + 4,358 19,000 Loans to depository institutions 145 - 9 - 51 164 Primary credit 7 - 14 + 7 16 Secondary credit 0 0 0 0 Seasonal credit 138 + 5 - 43 148 Adjustment credit 0 0 - 15 0 Float 596 + 124 + 1,310 2,584 Other Federal Reserve assets 40,334 + 478 - 95 40,438 Gold stock 11,043 0 + 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 35,116 + 14 + 1,020 35,116 Total factors supplying reserve funds 760,184 - 4,139 + 59,386 763,833 Currency in circulation(5) 694,937 + 675 + 34,044 695,887 Reverse repurchase agreements (6) 19,563 + 617 + 19,563 19,138 Foreign official and international accounts 19,563 + 617 + 19,563 19,138 Dealers 0 0 0 0 Treasury cash holdings 369 + 4 - 12 358 Deposits with F.R.Banks, other than reserve balances 17,205 - 193 + 1,877 17,683 U.S. Treasury, general account 5,611 - 28 + 715 5,720 Foreign official 149 - 28 + 73 525 Service-related 11,158 - 129 + 1,003 11,158 Required clearing balances 10,913 + 15 + 994 10,913 Adjustments to compensate for float 245 - 145 + 9 245 Other 287 - 7 + 86 281 Other liabilities and capital 20,190 + 340 + 718 20,043 Total factors, other than reserve balances, absorbing reserve funds 752,264 + 1,443 + 56,191 753,110 Reserve balances with Federal Reserve Banks 7,920 - 5,582 + 3,195 10,723 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 939,784 + 3,206 ------ 937,857 U.S. Treasury 753,537 + 937 ------ 751,156 Federal agency 186,246 + 2,268 ------ 186,701 Securities lent to dealers 2,131 - 634 + 444 2,689 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 Aug 13, 2003 Aug 6, 2003 Aug 14, 2002 Assets Gold certificate account 11,039 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 888 + 18 - 112 Securities, repurchase agreements, and loans 672,451 + 1,024 + 55,785 Securities held outright 653,288 + 254 + 52,906 U.S. Treasury (1) 653,278 + 254 + 52,906 Bills (2) 240,142 + 250 + 38,180 Notes and bonds, nominal (2) 398,853 0 + 13,840 Notes and bonds, inflation-indexed (2) 12,814 0 + 572 Inflation compensation (3) 1,469 + 4 + 315 Federal agency (2) 10 0 0 Repurchase agreements (4) 19,000 + 750 + 3,000 Loans 164 + 21 - 121 Items in process of collection (1,226) 9,284 - 53 + 2,665 Bank premises 1,587 + 1 + 66 Other assets (5) 38,805 + 374 - 533 Total assets (1,226) 736,255 + 1,364 + 57,873 Liabilities Federal Reserve notes net of FR Bank holdings 662,014 - 212 + 32,912 Reverse repurchase agreements (6) 19,138 + 76 + 19,138 Deposits (0) 27,215 + 2,027 + 4,795 Depository institutions 20,690 + 2,350 + 3,732 U.S. Treasury, general account 5,720 - 680 + 529 Foreign official 525 + 384 + 446 Other (0) 281 - 26 + 89 Deferred availability cash items (1,226) 7,844 - 699 + 695 Other liabilities and accrued dividends (7) 2,159 + 34 - 241 Total liabilities (1,226) 718,370 + 1,226 + 57,298 Capital Accounts Capital paid in 8,724 + 3 + 437 Surplus 8,380 0 + 1,068 Other capital accounts 780 + 134 - 933 Total capital 17,884 + 137 + 573 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, August 13, 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 40 52,151 + 870 0 0 14,000 19,138 16 days to 90 days 123 136,584 - 785 0 0 5,000 0 91 days to 1 year 0 162,065 + 165 10 0 ------ ------ Over 1 to 5 years ------ 177,685 + 1 0 0 ------ ------ Over 5 to 10 years ------ 44,825 + 1 0 0 ------ ------ Over 10 years ------ 79,967 + 1 0 0 ------ ------ All 164 653,278 + 254 10 0 19,000 19,138 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 August 13, 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 888 33 33 46 39 111 114 114 61 33 59 151 94 Securities, repurchase agreements, and loans 672,451 31,584 298,502 20,425 30,611 50,240 44,149 66,049 20,577 14,638 17,571 25,604 52,501 Securities held outright 653,288 31,584 279,497 20,424 30,611 50,240 44,134 66,015 20,553 14,582 17,557 25,602 52,488 U.S. Treasury (1) 653,278 31,583 279,493 20,424 30,611 50,239 44,133 66,014 20,553 14,582 17,556 25,602 52,487 Bills (2) 240,142 11,610 102,740 7,508 11,252 18,468 16,223 24,266 7,555 5,360 6,454 9,411 19,294 Notes and bonds(3) 413,136 19,973 176,753 12,916 19,359 31,771 27,910 41,748 12,998 9,222 11,103 16,191 33,193 Federal agency (2) 10 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements(4) 19,000 0 19,000 0 0 0 0 0 0 0 0 0 0 Loans 164 0 5 0 0 0 16 34 24 56 14 2 13 Items in process of collection 10,510 717 713 477 450 974 1,326 845 479 337 682 520 2,990 Bank premises 1,587 91 186 52 152 143 278 119 43 126 54 168 176 Other assets(5) 38,805 1,794 14,135 1,081 2,388 5,982 2,277 3,617 1,009 1,147 935 1,129 3,311 Interdistrict settlement account 0 - 4,380 +16,881 - 1,702 - 1,917 - 1,979 - 1,141 - 7,540 - 1,531 - 359 - 877 + 2,299 + 2,246 Total Assets 737,481 30,448 336,030 20,843 32,304 56,425 48,032 64,398 21,041 16,176 18,793 30,476 62,514 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 August 13, 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 777,982 31,566 333,820 25,716 31,887 58,577 63,509 67,084 23,582 15,548 21,332 35,423 69,938 Less: notes held by F.R. Banks 115,968 5,093 23,519 7,881 5,293 10,230 20,355 9,576 4,582 1,621 4,807 7,498 15,513 Federal Reserve notes, net 662,014 26,473 310,302 17,834 26,594 48,347 43,154 57,508 19,001 13,927 16,525 27,925 54,425 Reverse repurchase agreements (1) 19,138 925 8,188 598 897 1,472 1,293 1,934 602 427 514 750 1,538 Deposits 27,215 1,420 11,739 1,259 2,763 1,527 1,478 2,202 605 470 757 798 2,195 Depository institutions 20,690 1,418 5,360 1,258 2,760 1,405 1,474 2,199 604 469 755 797 2,192 U.S. Treasury, general account 5,720 0 5,720 0 0 0 0 0 0 0 0 0 0 Foreign official 525 2 501 1 3 7 2 3 1 1 1 1 3 Other 281 1 159 0 1 115 2 0 1 0 1 1 0 Deferred availability cash items 9,070 594 1,047 542 496 643 946 664 270 562 503 508 2,296 Other liabilities and accrued dividends (2) 2,159 123 668 91 115 223 180 217 95 86 87 108 164 Total liabilities 719,597 29,535 331,944 20,325 30,865 52,213 47,051 62,525 20,573 15,472 18,386 30,090 60,619 Capital Capital paid in 8,724 446 1,952 253 710 2,089 477 915 228 348 193 183 931 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 780 30 326 32 27 51 29 100 41 18 13 16 97 Total liabilities and capital 737,481 30,448 336,030 20,843 32,304 56,425 48,032 64,398 21,041 16,176 18,793 30,476 62,514 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 Aug 13, 2003 Federal Reserve notes outstanding 777,982 Less: Notes held by F.R. Banks not subject to collateralization 111,177 Federal Reserve Notes to be collateralized 666,805 Collateral held against Federal Reserve notes 666,805 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 653,145 Other eligible assets 420 Memo: Total U.S. Treasury and agency securities (1) 672,288 Less:face value of securities under reverse repurchase agreements 19,142 U.S. Treasury and agency securities eligible to be pledged 653,145 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.