FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks August 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 Aug 25, 2004 Aug 18, 2004 Aug 27, 2003 Aug 25, 2004 Federal Reserve Banks Reserve Bank Credit 755,206 + 969 + 39,803 757,041 Securities held outright 694,794 + 753 + 41,150 694,840 U.S. Treasury (1) 694,794 + 753 + 41,160 694,840 Bills (2) 255,281 + 30 + 14,789 255,322 Notes and bonds, nominal (2) 422,541 + 711 + 23,688 422,541 Notes and bonds, inflation-indexed (2) 14,862 0 + 2,048 14,862 Inflation compensation (3) 2,110 + 12 + 636 2,114 Federal agency (2) 0 0 - 10 0 Repurchase agreements(4) 22,786 + 2,250 - 1,821 24,500 Loans to depository institutions 241 - 5 + 84 236 Primary credit 6 - 6 + 5 5 Secondary credit 0 0 0 0 Seasonal credit 234 - 1 + 78 230 Float -461 - 72 - 621 -310 Other Federal Reserve assets 37,846 - 1,957 + 1,012 37,775 Gold stock 11,044 0 + 1 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,129 + 14 + 915 36,129 Total factors supplying reserve funds 804,579 + 983 + 40,719 806,414 Currency in circulation(5) 734,390 - 640 + 39,625 735,462 Reverse repurchase agreements (6) 20,967 - 761 + 1,744 20,922 Foreign official and international accounts 20,967 - 761 + 1,744 20,922 Dealers 0 0 0 0 Treasury cash holdings 321 + 15 - 17 330 Deposits with F.R.Banks, other than reserve balances 15,434 + 5 - 2,180 14,387 U.S. Treasury, general account 4,789 + 333 - 1,185 3,668 Foreign official 102 - 9 + 16 229 Service-related 10,208 - 319 - 1,040 10,208 Required clearing balances 10,207 - 320 - 705 10,207 Adjustments to compensate for float 0 0 - 337 0 Other 336 0 + 30 283 Other liabilities and capital 22,440 + 475 + 2,443 22,557 Total factors, other than reserve balances, absorbing reserve funds 793,553 - 905 + 41,615 793,658 Reserve balances with Federal Reserve Banks 11,026 + 1,888 - 896 12,755 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,277,669 + 12,119 + 328,919 1,279,748 U.S. Treasury 1,035,943 + 10,500 + 274,175 1,035,965 Federal agency 241,727 + 1,620 + 54,745 243,783 Securities lent to dealers 767 - 318 - 862 1,527 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 25, 2004 Aug 18, 2004 Aug 27, 2003 Assets Gold certificate account 11,040 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 764 + 10 - 123 Securities, repurchase agreements, and loans 719,576 + 8,074 + 36,734 Securities held outright 694,840 + 80 + 41,159 U.S. Treasury (1) 694,840 + 80 + 41,169 Bills (2) 255,322 + 68 + 14,794 Notes and bonds, nominal (2) 422,541 0 + 23,688 Notes and bonds, inflation-indexed (2) 14,862 0 + 2,048 Inflation compensation (3) 2,114 + 12 + 638 Federal agency (2) 0 0 - 10 Repurchase agreements (4) 24,500 + 8,000 - 4,500 Loans 236 - 5 + 75 Items in process of collection (779) 5,215 - 356 - 2,371 Bank premises 1,718 + 7 + 128 Other assets (5) 36,122 + 124 + 733 Total assets (779) 776,634 + 7,859 + 35,100 Liabilities Federal Reserve notes net of FR Bank holdings 700,422 - 491 + 37,004 Reverse repurchase agreements (6) 20,922 - 452 + 1,803 Deposits (0) 27,208 + 8,143 - 4,523 Depository institutions 23,028 + 9,027 - 2,899 U.S. Treasury, general account 3,668 - 997 - 1,773 Foreign official 229 + 125 + 148 Other (0) 283 - 11 + 1 Deferred availability cash items (779) 5,525 - 215 - 1,830 Other liabilities and accrued dividends (7) 2,592 + 72 + 388 Total liabilities (779) 756,669 + 7,057 + 32,844 Capital Accounts Capital paid in 10,452 + 1,190 + 1,704 Surplus 8,834 - 13 + 454 Other capital accounts 678 - 376 + 98 Total capital 19,965 + 802 + 2,257 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 25, 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 215 57,989 - 76 0 0 24,500 20,922 16 days to 90 days 21 150,619 - 573 0 0 0 0 91 days to 1 year 0 162,874 + 717 0 0 ------ ------ Over 1 to 5 years ------ 197,636 + 4 0 0 ------ ------ Over 5 to 10 years ------ 49,806 + 3 0 0 ------ ------ Over 10 years ------ 75,916 + 5 0 0 ------ ------ All 236 694,840 + 80 0 0 24,500 20,922 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 25, 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 764 20 37 37 43 75 96 97 52 22 47 129 108 Securities, repurchase agreements, and loans 719,576 32,628 325,792 20,676 29,691 52,811 46,869 62,650 20,443 15,239 18,290 31,686 62,801 Securities held outright 694,840 32,628 301,292 20,666 29,691 52,811 46,858 62,590 20,414 15,155 18,259 31,681 62,795 U.S. Treasury (1) 694,840 32,628 301,292 20,666 29,691 52,811 46,858 62,590 20,414 15,155 18,259 31,681 62,795 Bills (2) 255,322 11,989 110,711 7,594 10,910 19,406 17,218 22,999 7,501 5,569 6,709 11,641 23,074 Notes and bonds(3) 439,518 20,639 190,581 13,072 18,781 33,405 29,640 39,591 12,913 9,586 11,550 20,040 39,721 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 24,500 0 24,500 0 0 0 0 0 0 0 0 0 0 Loans 236 0 0 10 0 0 10 60 29 83 31 5 6 Items in process of collection 5,994 270 460 326 279 331 534 417 399 427 374 230 1,947 Bank premises 1,718 97 191 51 155 144 279 140 56 124 76 226 180 Other assets(5) 36,122 1,634 12,935 1,003 2,249 5,769 2,048 3,263 946 1,081 740 900 3,554 Interdistrict settlement account 0 + 4,163 -36,565 + 4,860 + 995 + 1,714 +10,122 - 1,321 + 1,644 - 592 + 1,331 + 3,372 +10,277 Total Assets 777,413 39,421 308,374 27,418 33,968 61,811 61,007 66,381 23,936 16,549 21,227 37,166 80,156 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 25, 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 826,371 38,721 317,193 33,032 35,111 62,706 73,277 67,751 25,331 15,962 24,141 42,988 90,159 Less: notes held by F.R. Banks 125,949 4,338 32,667 8,740 5,908 11,800 17,669 8,110 3,447 1,434 4,905 8,223 18,708 Federal Reserve notes, net 700,422 34,383 284,525 24,292 29,202 50,905 55,608 59,641 21,883 14,528 19,236 34,766 71,451 Reverse repurchase agreements (1) 20,922 982 9,072 622 894 1,590 1,411 1,885 615 456 550 954 1,891 Deposits 27,208 1,354 8,949 1,388 1,826 4,525 2,003 2,014 596 432 738 767 2,615 Depository institutions 23,028 1,334 4,901 1,387 1,822 4,434 2,001 2,010 594 431 736 766 2,611 U.S. Treasury, general account 3,668 0 3,668 0 0 0 0 0 0 0 0 0 0 Foreign official 229 2 206 1 2 7 2 3 1 1 1 0 4 Other 283 18 175 0 1 84 0 1 2 0 1 0 0 Deferred availability cash items 6,305 427 594 441 400 377 744 535 261 438 286 262 1,539 Other liabilities and accrued dividends (2) 2,592 152 842 102 130 263 205 246 112 88 97 143 213 Total liabilities 757,448 37,298 303,983 26,846 32,452 57,660 59,971 64,321 23,468 15,943 20,907 36,892 77,709 Capital Capital paid in 10,452 1,617 2,144 284 761 2,088 515 1,025 232 262 153 131 1,239 Surplus 8,834 448 2,031 259 727 2,062 489 924 228 344 162 111 1,048 Other capital 678 57 216 29 28 0 32 111 8 0 5 33 160 Total liabilities and capital 777,413 39,421 308,374 27,418 33,968 61,811 61,007 66,381 23,936 16,549 21,227 37,166 80,156 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 25, 2004 Federal Reserve notes outstanding 826,371 Less: Notes held by F.R. Banks not subject to collateralization 125,949 Federal Reserve Notes to be collateralized 700,422 Collateral held against Federal Reserve notes 700,422 Gold certificate account 11,040 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 687,182 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 719,340 Less:face value of securities under reverse repurchase agreements 20,930 U.S. Treasury and agency securities eligible to be pledged 698,410 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.