FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks August 19, 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 Aug 18, 2004 Aug 11, 2004 Aug 20, 2003 Aug 18, 2004 Federal Reserve Banks Reserve Bank Credit 754,238 - 553 + 27,699 749,097 Securities held outright 694,041 + 300 + 40,595 694,760 U.S. Treasury (1) 694,041 + 300 + 40,605 694,760 Bills (2) 255,251 + 3 + 14,953 255,254 Notes and bonds, nominal (2) 421,830 + 284 + 22,977 422,541 Notes and bonds, inflation-indexed (2) 14,862 0 + 2,048 14,862 Inflation compensation (3) 2,098 + 13 + 627 2,102 Federal agency (2) 0 0 - 10 0 Repurchase agreements(4) 20,536 + 500 - 13,535 16,500 Loans to depository institutions 246 + 7 - 691 241 Primary credit 12 - 4 - 707 8 Secondary credit 0 0 - 66 0 Seasonal credit 235 + 12 + 83 234 Float -389 - 92 - 1,231 -173 Other Federal Reserve assets 39,803 - 1,268 + 2,560 37,768 Gold stock 11,044 0 + 1 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,137 + 14 + 946 36,137 Total factors supplying reserve funds 803,619 - 539 + 28,645 798,479 Currency in circulation(5) 735,052 + 24 + 40,324 735,981 Reverse repurchase agreements (6) 21,728 + 1,306 + 1,622 21,374 Foreign official and international accounts 21,728 + 1,306 + 1,622 21,374 Dealers 0 0 0 0 Treasury cash holdings 306 + 17 - 49 320 Deposits with F.R.Banks, other than reserve balances 15,429 - 553 - 2,089 15,591 U.S. Treasury, general account 4,456 - 608 - 1,188 4,665 Foreign official 111 + 30 - 127 104 Service-related 10,527 - 12 - 804 10,527 Required clearing balances 10,527 - 2 - 385 10,527 Adjustments to compensate for float 0 - 10 - 419 0 Other 336 + 38 + 32 294 Other liabilities and capital 21,965 + 115 + 1,661 21,683 Total factors, other than reserve balances, absorbing reserve funds 794,480 + 910 + 41,469 794,949 Reserve balances with Federal Reserve Banks 9,139 - 1,449 - 12,824 3,529 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,265,550 + 9,286 + 319,368 1,274,209 U.S. Treasury 1,025,443 + 7,504 + 264,955 1,034,982 Federal agency 240,107 + 1,782 + 54,412 239,227 Securities lent to dealers 1,085 + 337 - 3,147 3,179 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 Aug 18, 2004 Aug 11, 2004 Aug 20, 2003 Assets Gold certificate account 11,040 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 754 + 4 - 143 Securities, repurchase agreements, and loans 711,502 + 1,525 + 18,214 Securities held outright 694,760 + 1,014 + 41,234 U.S. Treasury (1) 694,760 + 1,014 + 41,244 Bills (2) 255,254 + 6 + 14,878 Notes and bonds, nominal (2) 422,541 + 995 + 23,688 Notes and bonds, inflation-indexed (2) 14,862 0 + 2,048 Inflation compensation (3) 2,102 + 12 + 630 Federal agency (2) 0 0 - 10 Repurchase agreements (4) 16,500 + 500 - 23,000 Loans 241 + 10 - 21 Items in process of collection (621) 5,571 + 254 - 1,985 Bank premises 1,711 + 1 + 121 Other assets (5) 35,998 - 3,427 + 844 Total assets (621) 768,775 - 1,643 + 17,051 Liabilities Federal Reserve notes net of FR Bank holdings 700,913 - 295 + 39,186 Reverse repurchase agreements (6) 21,374 + 768 + 1,030 Deposits (0) 19,065 - 1,983 - 23,038 Depository institutions 14,001 - 2,083 - 21,187 U.S. Treasury, general account 4,665 + 48 - 1,868 Foreign official 104 + 22 + 23 Other (0) 294 + 29 - 7 Deferred availability cash items (621) 5,740 - 146 - 1,927 Other liabilities and accrued dividends (7) 2,520 + 8 + 358 Total liabilities (621) 749,612 - 1,649 + 15,609 Capital Accounts Capital paid in 9,262 + 2 + 537 Surplus 8,847 - 9 + 467 Other capital accounts 1,054 + 14 + 437 Total capital 19,163 + 6 + 1,441 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, August 18, 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 233 58,065 + 1,500 0 0 16,500 21,374 16 days to 90 days 8 151,192 + 1,870 0 0 0 0 91 days to 1 year 0 162,157 - 4,585 0 0 ------ ------ Over 1 to 5 years ------ 197,632 + 5,200 0 0 ------ ------ Over 5 to 10 years ------ 49,803 - 2,069 0 0 ------ ------ Over 10 years ------ 75,911 - 902 0 0 ------ ------ All 241 694,760 + 1,014 0 0 16,500 21,374 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 18, 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 11,040 494 4,650 382 452 819 894 924 325 218 302 525 1,055 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 754 19 39 36 44 74 95 94 52 21 47 128 105 Securities, repurchase agreements, and loans 711,502 32,624 317,758 20,673 29,687 52,807 46,859 62,653 20,435 15,242 18,289 31,680 62,794 Securities held outright 694,760 32,624 301,257 20,664 29,687 52,805 46,853 62,583 20,411 15,154 18,257 31,678 62,788 U.S. Treasury (1) 694,760 32,624 301,257 20,664 29,687 52,805 46,853 62,583 20,411 15,154 18,257 31,678 62,788 Bills (2) 255,254 11,986 110,682 7,592 10,907 19,400 17,214 22,993 7,499 5,567 6,708 11,638 23,068 Notes and bonds(3) 439,506 20,638 190,576 13,072 18,780 33,404 29,639 39,590 12,912 9,586 11,549 20,039 39,719 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 16,500 0 16,500 0 0 0 0 0 0 0 0 0 0 Loans 241 0 0 9 0 2 7 70 24 88 32 2 7 Items in process of collection 6,192 316 544 295 331 351 574 408 348 409 432 268 1,917 Bank premises 1,711 97 191 51 154 145 279 139 56 124 75 220 180 Other assets(5) 35,998 1,631 12,832 999 2,248 5,815 2,036 3,248 941 1,081 734 885 3,549 Interdistrict settlement account 0 + 2,729 -30,394 + 4,238 + 51 - 1,387 +10,060 - 1,782 + 1,532 - 527 + 1,469 + 3,698 +10,313 Total Assets 769,396 38,025 306,493 26,757 33,071 58,770 60,963 65,896 23,759 16,598 21,414 37,501 80,147 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 18, 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 824,991 38,774 316,483 33,033 35,014 62,382 72,815 67,764 25,154 15,981 24,172 43,069 90,350 Less: notes held by F.R. Banks 124,079 4,336 32,344 8,679 5,847 11,524 17,294 8,134 3,368 1,428 4,791 7,964 18,370 Federal Reserve notes, net 700,913 34,439 284,138 24,354 29,167 50,858 55,521 59,630 21,786 14,553 19,382 35,106 71,980 Reverse repurchase agreements (1) 21,374 1,004 9,268 636 913 1,625 1,441 1,925 628 466 562 975 1,932 Deposits 19,065 977 7,199 681 936 1,374 2,045 1,592 565 402 652 724 1,919 Depository institutions 14,001 953 2,278 680 932 1,274 2,043 1,589 563 401 650 724 1,915 U.S. Treasury, general account 4,665 0 4,665 0 0 0 0 0 0 0 0 0 0 Foreign official 104 2 81 1 2 7 2 3 1 1 1 0 4 Other 294 22 174 0 1 92 0 1 2 0 1 0 0 Deferred availability cash items 6,361 433 619 405 386 411 712 412 185 470 398 278 1,653 Other liabilities and accrued dividends (2) 2,520 135 822 98 126 270 200 238 109 86 95 137 205 Total liabilities 750,233 36,987 302,046 26,173 31,528 54,537 59,919 63,797 23,273 15,977 21,087 37,220 77,689 Capital Capital paid in 9,262 506 2,117 284 757 2,085 506 1,024 232 262 153 131 1,203 Surplus 8,847 448 2,031 259 727 2,074 489 924 228 346 162 111 1,048 Other capital 1,054 84 299 41 59 74 49 151 26 13 12 40 207 Total liabilities and capital 769,396 38,025 306,493 26,757 33,071 58,770 60,963 65,896 23,759 16,598 21,414 37,501 80,147 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 18, 2004 Federal Reserve notes outstanding 824,991 Less: Notes held by F.R. Banks not subject to collateralization 124,079 Federal Reserve Notes to be collateralized 700,913 Collateral held against Federal Reserve notes 700,913 Gold certificate account 11,040 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 687,673 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 711,260 Less:face value of securities under reverse repurchase agreements 21,382 U.S. Treasury and agency securities eligible to be pledged 689,879 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.