FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks October 16, 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 15, 2003 Oct 8, 2003 Oct 16, 2002 Oct 15, 2003 Federal Reserve Banks Reserve Bank Credit 722,887 + 7,849 + 61,218 729,755 Securities held outright 656,416 + 174 + 46,773 656,499 U.S. Treasury (1) 656,406 + 174 + 46,773 656,489 Bills (2) 241,799 + 160 + 34,164 241,879 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) 1,557 + 14 + 368 1,561 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 26,393 + 7,143 + 13,857 30,250 Loans to depository institutions 102 - 25 - 27 110 Primary credit 4 + 2 + 4 13 Secondary credit 0 0 0 0 Seasonal credit 98 - 27 - 26 97 Adjustment credit 0 0 - 5 0 Float -282 + 5 - 940 2,978 Other Federal Reserve assets 40,258 + 553 + 1,555 39,917 Gold stock 11,043 0 + 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 35,285 + 14 + 942 35,285 Total factors supplying reserve funds 771,415 + 7,863 + 62,161 778,283 Currency in circulation(5) 703,116 + 4,137 + 38,704 704,151 Reverse repurchase agreements (6) 19,095 - 227 + 19,095 18,642 Foreign official and international accounts 19,095 - 227 + 19,095 18,642 Dealers 0 0 0 0 Treasury cash holdings 373 + 15 - 11 387 Deposits with F.R.Banks, other than reserve balances 15,566 - 1,523 + 648 16,681 U.S. Treasury, general account 3,745 - 1,440 - 582 4,857 Foreign official 139 + 34 + 62 165 Service-related 11,370 - 85 + 1,071 11,370 Required clearing balances 11,252 + 1 + 1,253 11,252 Adjustments to compensate for float 118 - 86 - 182 118 Other 312 - 33 + 96 289 Other liabilities and capital 20,523 - 55 + 988 19,974 Total factors, other than reserve balances, absorbing reserve funds 758,672 + 2,345 + 59,424 759,834 Reserve balances with Federal Reserve Banks 12,742 + 5,517 + 2,737 18,449 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 990,783 - 985 ------ 1,000,170 U.S. Treasury 797,796 - 871 ------ 805,226 Federal agency 192,987 - 114 ------ 194,944 Securities lent to dealers 959 - 1,379 - 1,323 1,639 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 15, 2003 Oct 8, 2003 Oct 16, 2002 Assets Gold certificate account 11,039 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 813 - 13 - 246 Securities, repurchase agreements, and loans 686,859 + 10,714 + 62,579 Securities held outright 656,499 + 219 + 46,129 U.S. Treasury (1) 656,489 + 219 + 46,129 Bills (2) 241,879 + 207 + 33,522 Notes and bonds, nominal (2) 399,595 0 + 11,029 Notes and bonds, inflation-indexed (2) 13,454 0 + 1,212 Inflation compensation (3) 1,561 + 13 + 366 Federal agency (2) 10 0 0 Repurchase agreements (4) 30,250 + 10,500 + 16,500 Loans 110 - 5 - 49 Items in process of collection (1,327) 14,302 + 6,551 - 1,793 Bank premises 1,596 + 1 + 70 Other assets (5) 38,306 - 135 + 1,168 Total assets (1,327) 755,114 + 17,118 + 61,779 Liabilities Federal Reserve notes net of FR Bank holdings 670,061 + 2,887 + 37,928 Reverse repurchase agreements (6) 18,642 - 309 + 18,642 Deposits (0) 35,130 + 11,512 + 4,777 Depository institutions 29,820 + 11,552 + 4,350 U.S. Treasury, general account 4,857 - 78 + 265 Foreign official 165 + 84 + 90 Other (0) 289 - 45 + 74 Deferred availability cash items (1,327) 11,307 + 3,349 - 260 Other liabilities and accrued dividends (7) 2,239 - 8 - 154 Total liabilities (1,327) 737,379 + 17,430 + 60,934 Capital Accounts Capital paid in 8,739 - 8 + 469 Surplus 8,375 - 5 + 1,063 Other capital accounts 621 - 299 - 688 Total capital 17,735 - 313 + 845 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 15, 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 37 45,028 - 414 0 0 30,250 18,642 16 days to 90 days 73 147,680 + 940 10 0 0 0 91 days to 1 year 0 158,103 - 319 0 0 ------ ------ Over 1 to 5 years ------ 176,910 + 3 0 0 ------ ------ Over 5 to 10 years ------ 51,669 + 5 0 0 ------ ------ Over 10 years ------ 77,100 + 5 0 0 ------ ------ All 110 656,489 + 219 10 0 30,250 18,642 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 15, 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 813 26 38 35 34 97 104 101 55 24 46 152 100 Securities, repurchase agreements, and loans 686,859 31,739 311,122 20,525 30,762 50,491 44,352 66,369 20,674 14,688 17,660 25,728 52,751 Securities held outright 656,499 31,739 280,872 20,525 30,762 50,487 44,351 66,339 20,654 14,654 17,643 25,728 52,746 U.S. Treasury (1) 656,489 31,738 280,867 20,525 30,762 50,486 44,350 66,338 20,654 14,654 17,643 25,728 52,745 Bills (2) 241,879 11,694 103,484 7,562 11,334 18,601 16,340 24,442 7,610 5,399 6,500 9,479 19,434 Notes and bonds(3) 414,610 20,045 177,384 12,962 19,428 31,885 28,009 41,897 13,044 9,255 11,142 16,248 33,312 Federal agency (2) 10 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements(4) 30,250 0 30,250 0 0 0 0 0 0 0 0 0 0 Loans 110 0 0 0 0 4 2 29 19 34 17 0 5 Items in process of collection 15,629 986 1,528 992 836 1,298 1,495 1,354 779 702 1,045 742 3,872 Bank premises 1,596 91 190 52 150 143 277 120 43 125 54 172 176 Other assets(5) 38,306 1,773 13,742 1,060 2,400 6,102 2,216 3,568 986 1,147 909 1,092 3,311 Interdistrict settlement account 0 + 4,138 - 2,224 - 1,445 - 1,454 - 473 + 2,575 - 7,779 - 1,659 - 36 - 560 + 3,037 + 5,880 Total Assets 756,441 39,364 329,975 21,681 33,309 58,614 52,048 64,926 21,280 16,904 19,523 31,529 67,288 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 15, 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 789,005 35,606 328,920 27,431 33,092 59,459 64,090 66,951 23,499 15,789 21,512 36,454 76,202 Less: notes held by F.R. Banks 118,943 5,373 24,274 8,834 5,336 10,110 18,306 10,249 4,476 1,612 4,609 7,877 17,885 Federal Reserve notes, net 670,061 30,232 304,647 18,596 27,756 49,349 45,783 56,702 19,023 14,177 16,903 28,577 58,317 Reverse repurchase agreements (1) 18,642 901 7,975 583 874 1,434 1,259 1,884 586 416 501 731 1,498 Deposits 35,130 6,348 11,197 1,077 2,375 2,577 2,571 3,133 710 868 915 1,144 2,216 Depository institutions 29,820 6,340 6,040 1,075 2,371 2,459 2,569 3,129 702 866 913 1,143 2,212 U.S. Treasury, general account 4,857 0 4,857 0 0 0 0 0 0 0 0 0 0 Foreign official 165 2 141 1 3 7 2 3 1 1 1 1 3 Other 289 7 159 1 1 111 0 0 8 0 1 1 0 Deferred availability cash items 12,634 847 1,330 815 765 887 1,279 1,124 392 660 714 585 3,236 Other liabilities and accrued dividends (2) 2,239 132 686 93 124 238 178 226 103 87 85 116 172 Total liabilities 738,706 38,461 325,835 21,164 31,892 54,485 51,070 63,069 20,815 16,207 19,119 31,152 65,438 Capital Capital paid in 8,739 448 1,998 255 705 2,061 482 917 229 347 196 184 918 Surplus 8,375 436 1,809 233 702 2,068 475 858 199 340 201 186 868 Other capital 621 19 334 29 10 0 21 83 38 9 8 7 64 Total liabilities and capital 756,441 39,364 329,975 21,681 33,309 58,614 52,048 64,926 21,280 16,904 19,523 31,529 67,288 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 15, 2003 Federal Reserve notes outstanding 789,005 Less: Notes held by F.R. Banks not subject to collateralization 114,046 Federal Reserve Notes to be collateralized 674,958 Collateral held against Federal Reserve notes 674,958 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 661,719 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities (1) 686,749 Less:face value of securities under reverse repurchase agreements 18,646 U.S. Treasury and agency securities eligible to be pledged 668,104 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.