Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date: September 23, 2004
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FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                         September 23, 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           Sep 22, 2004 Sep 15, 2004 Sep 24, 2003 Sep 22, 2004
Federal Reserve Banks

Reserve Bank Credit                                         767,481    -     938    +  49,875      763,507
 Securities held outright                                   697,024    +   1,461    +  41,034      698,161       
    U.S. Treasury (1)                                       697,024    +   1,461    +  41,044      698,161
       Bills (2)                                            255,913    +     553    +  14,511      257,053
       Notes and bonds, nominal (2)                         424,141    +     914    +  24,546      424,141
       Notes and bonds, inflation-indexed (2)                14,862            0    +   1,408       14,862
       Inflation compensation (3)                             2,107    -       6    +     578        2,105
    Federal agency (2)                                            0            0    -      10            0      
 Repurchase agreements(4)                                    31,286    -   2,214    +   9,000       26,500
 Loans to depository institutions                               592    +     334    +     356          255
    Primary credit                                              352    +     332    +     279           15
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             240    +       2    +      77          240
 Float                                                         -268    -     742    -     554         -402
 Other Federal Reserve assets                                38,847    +     223    +      38       38,993
Gold stock                                                   11,043            0            0       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,185    +      14    +     921       36,185
       
Total factors supplying reserve funds                       816,909    -     924    +  50,796      812,936
                                                                   
Currency in circulation(5)                                  737,438    -   2,637    +  41,474      737,875
Reverse repurchase agreements (6)                            24,814    +     107    +   4,269       24,556
   Foreign official and international accounts               24,814    +     107    +   4,269       24,556
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          312    -      10    -      24          300
Deposits with F.R.Banks, other than reserve balances         17,502    +   1,661    -   1,903       15,339       
  U.S. Treasury, general account                              6,979    +   1,718    -     561        4,845
  Foreign official                                               81    -       3    -      21           78
  Service-related                                            10,165    -      59    -   1,329       10,165
     Required clearing balances                              10,165    -      59    -   1,061       10,165
     Adjustments to compensate for float                          0            0    -     268            0
  Other                                                         278    +       5    +       8          252
Other liabilities and capital                                23,223    -      48    +   2,468       23,151

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  803,289    -     927    +  46,283      801,222

Reserve balances with Federal Reserve Banks                  13,620    +       3    +   4,513       11,714
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,290,191    -   1,183    + 326,834    1,289,292
     U.S. Treasury                                        1,047,563    -     194    + 272,768    1,047,480
     Federal agency                                         242,628    -     988    +  54,067      241,812
  Securities lent to dealers                                    995    -     702    +     380        1,840   


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 Sep 22, 2004     Sep 15, 2004     Sep 24, 2003

Assets
Gold certificate account                                        11,039                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                               773        +       3        -      76
Securities, repurchase agreements, and loans                   724,916        -   6,590        +  42,571
   Securities held outright                                    698,161        +   2,458        +  42,158
      U.S. Treasury (1)                                        698,161        +   2,458        +  42,168       
         Bills (2)                                             257,053        +   1,664        +  15,639
         Notes and bonds, nominal (2)                          424,141        +     800        +  24,546
         Notes and bonds, inflation-indexed (2)                 14,862                0        +   1,408
         Inflation compensation (3)                              2,105        -       6        +     575
      Federal agency (2)                                             0                0        -      10
   Repurchase agreements (4)                                    26,500        -   9,000        +     500    
   Loans                                                           255        -      48        -      86
Items in process of collection                      (907)        5,294        -     940        -   1,241
Bank premises                                                    1,723        +       1        +     128
Other assets (5)                                                37,447        +     532        -      74
      Total assets                                  (907)      783,391        -   6,994        +  41,307
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  702,759        -   1,658        +  39,445
Reverse repurchase agreements (6)                               24,556        +     233        +   5,755
Deposits                                              (0)       27,087        -   5,406        -   5,121       
  Depository institutions                                       21,913        -   2,622        -   3,114
  U.S. Treasury, general account                                 4,845        -   2,781        -   1,992
  Foreign official                                                  78        -       1        -       4
  Other                                               (0)          252                0        -      10
Deferred availability cash items                    (907)        5,838        -     435        -   1,274
Other liabilities and accrued dividends (7)                      2,685        +      36        +     440
      Total liabilities                             (907)      762,926        -   7,230        +  39,245
                          
Capital Accounts
Capital paid in                                                 10,501        +      22        +   1,743
Surplus                                                          8,847                0        +     467
Other capital accounts                                           1,117        +     214        -     148
      Total capital                                             20,466        +     237        +   2,063


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, September 22, 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             246       54,069   -     702            0           0       26,500       24,556
16 days to 90 days           8      152,191   +   2,029            0           0            0            0
91 days to 1 year            0      165,875   +     338            0           0     ------      ------
Over 1 to 5 years     ------        199,511   -       2            0           0     ------      ------
Over 5 to 10 years    ------         50,203   +     398            0           0     ------      ------
Over 10 years         ------         76,312   +     397            0           0     ------      ------
                   		 	
All                        255      698,161   +   2,458            0           0       26,500      24,556

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 September 22, 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                                             773         21         42         41         45         77         86        100         53         23         49        124        111
Securities, repurchase agreements,
      and loans                              724,916     32,784    329,232     20,775     29,833     53,063     47,097     62,958     20,541     15,311     18,378     31,837     63,107
   Securities held outright                  698,161     32,784    302,732     20,765     29,833     53,063     47,082     62,889     20,511     15,228     18,346     31,833     63,095
      U.S. Treasury (1)                      698,161     32,784    302,732     20,765     29,833     53,063     47,082     62,889     20,511     15,228     18,346     31,833     63,095
         Bills (2)                           257,053     12,071    111,462      7,645     10,984     19,537     17,335     23,155      7,552      5,607      6,755     11,720     23,231
         Notes and bonds(3)                  441,108     20,713    191,270     13,120     18,849     33,526     29,747     39,734     12,959      9,621     11,592     20,112     39,864
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                26,500          0     26,500          0          0          0          0          0          0          0          0          0          0
      Loans                                      255          0          0         10          1          0         15         69         30         83         32          4         12
Items in process of collection                 6,200        308        484        378        371        242        484        546        389        398        404        165      2,032
Bank premises                                  1,723         97        191         51        154        144        279        142         59        124         76        225        180
Other assets(5)                               37,447      1,695     13,457      1,126      2,303      5,874      2,131      3,374        975      1,107        771        958      3,675
Interdistrict settlement account                   0    + 3,210    -33,451    + 3,724    +    16    +   718    +11,609    - 1,370    + 1,489    -   505    + 2,014    + 3,258    + 9,288
          Total Assets                       784,298     38,725    315,478     26,560     33,279     61,085     62,745     66,887     23,903     16,705     22,060     37,190     79,681

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 September 22, 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             829,099     38,233    318,605     32,894     35,057     63,951     73,505     68,425     25,295     16,201     24,613     42,597     89,723
  Less: notes held by F.R. Banks              126,340      4,545     34,134      8,845      5,860     11,778     16,039      8,391      3,505      1,672      4,709      7,987     18,874
    Federal Reserve notes, net                702,759     33,688    284,471     24,049     29,197     52,173     57,466     60,034     21,789     14,529     19,904     34,610     70,849
Reverse repurchase agreements (1)              24,556      1,153     10,648        730      1,049      1,866      1,656      2,212        721        536        645      1,120      2,219
Deposits                                       27,087      1,087     14,346        629        948      2,159      1,521      1,742        604        418        750        724      2,159
  Depository institutions                      21,913      1,084      9,275        628        944      2,080      1,518      1,738        602        417        748        723      2,155
  U.S. Treasury, general account                4,845          0      4,845          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 78          2         55          1          2          7          2          3          1          1          1          0          4
  Other                                           252          1        171          0          2         72          2          0          1          0          1          0          0
Deferred availability cash items                6,745        427        644        466        403        390        818        554        188        514        341        311      1,688
Other liabilities and accrued                 
  dividends (2)                                 2,685        158        867        104        135        275        222        253        114         91        100        142        226
   
    Total liabilities                         763,832     36,513    310,976     25,978     31,732     56,864     61,683     64,795     23,416     16,087     21,741     36,907     77,141
                              
Capital                    
Capital paid in                                10,501      1,634      2,159        285        762      2,089        517      1,025        238        263        149        130      1,249
Surplus                                         8,847        448      2,031        259        727      2,074        489        924        228        346        162        111      1,048
Other capital                                   1,117        130        312         39         58         58         55        143         20         10          8         43        243
     Total liabilities and capital            784,298     38,725    315,478     26,560     33,279     61,085     62,745     66,887     23,903     16,705     22,060     37,190     79,681
                              

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
                                          Sep 22, 2004
              
Federal Reserve notes outstanding             829,099
   Less: Notes held by F.R. Banks
         not subject to collateralization     126,340
      Federal Reserve Notes to be
         collateralized                       702,759 
Collateral held against Federal Reserve            
   notes                                      702,759
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              689,520
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         724,661
   Less:face value of securities under
         reverse repurchase agreements         24,567
      U.S. Treasury and agency securities
             eligible to be pledged           700,094
   

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. 

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