FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks September 30, 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 29, 2004 Sep 22, 2004 Oct 1, 2003 Sep 29, 2004 Federal Reserve Banks Reserve Bank Credit 765,836 - 1,645 + 38,657 767,461 Securities held outright 698,602 + 1,578 + 42,483 698,617 U.S. Treasury (1) 698,602 + 1,578 + 42,493 698,617 Bills (2) 257,062 + 1,149 + 15,535 257,079 Notes and bonds, nominal (2) 424,141 0 + 24,546 424,141 Notes and bonds, inflation-indexed (2) 15,262 + 400 + 1,808 15,262 Inflation compensation (3) 2,137 + 30 + 604 2,135 Federal agency (2) 0 0 - 10 0 Repurchase agreements(4) 27,571 - 3,715 - 4,536 29,500 Loans to depository institutions 254 - 338 + 76 251 Primary credit 9 - 343 - 14 6 Secondary credit 0 0 0 0 Seasonal credit 245 + 5 + 90 245 Float 140 + 408 + 755 -353 Other Federal Reserve assets 39,269 + 422 - 120 39,445 Gold stock 11,043 0 0 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,199 + 14 + 926 36,199 Total factors supplying reserve funds 815,279 - 1,630 + 39,584 816,903 Currency in circulation(5) 736,774 - 664 + 39,992 738,586 Reverse repurchase agreements (6) 24,291 - 523 + 2,907 24,337 Foreign official and international accounts 24,291 - 523 + 2,907 24,337 Dealers 0 0 0 0 Treasury cash holdings 299 - 13 - 44 291 Deposits with F.R.Banks, other than reserve balances 15,639 - 1,863 - 3,501 15,925 U.S. Treasury, general account 5,118 - 1,861 - 1,804 5,436 Foreign official 110 + 29 - 349 81 Service-related 10,163 - 2 - 1,352 10,163 Required clearing balances 10,163 - 2 - 1,062 10,163 Adjustments to compensate for float 0 0 - 290 0 Other 247 - 31 + 4 245 Other liabilities and capital 23,394 + 171 + 2,479 23,175 Total factors, other than reserve balances, absorbing reserve funds 800,397 - 2,892 + 41,833 802,314 Reserve balances with Federal Reserve Banks 14,882 + 1,262 - 2,248 14,590 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,291,580 + 1,389 + 318,050 1,291,141 U.S. Treasury 1,047,639 + 76 + 265,913 1,049,079 Federal agency 243,941 + 1,313 + 52,137 242,062 Securities lent to dealers 1,486 + 491 - 2,203 2,645 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 29, 2004 Sep 22, 2004 Oct 1, 2003 Assets Gold certificate account 11,039 0 0 Special drawing rights certificate account 2,200 0 0 Coin 777 + 4 - 62 Securities, repurchase agreements, and loans 728,368 + 3,452 + 35,271 Securities held outright 698,617 + 456 + 42,421 U.S. Treasury (1) 698,617 + 456 + 42,431 Bills (2) 257,079 + 26 + 15,478 Notes and bonds, nominal (2) 424,141 0 + 24,546 Notes and bonds, inflation-indexed (2) 15,262 + 400 + 1,808 Inflation compensation (3) 2,135 + 30 + 600 Federal agency (2) 0 0 - 10 Repurchase agreements (4) 29,500 + 3,000 - 7,250 Loans 251 - 4 + 100 Items in process of collection (1,080) 5,602 + 308 - 1,797 Bank premises 1,731 + 8 + 137 Other assets (5) 37,887 + 440 + 11 Total assets (1,080) 787,605 + 4,214 + 33,560 Liabilities Federal Reserve notes net of FR Bank holdings 703,451 + 692 + 38,639 Reverse repurchase agreements (6) 24,337 - 219 + 2,247 Deposits (0) 30,704 + 3,617 - 7,844 Depository institutions 24,943 + 3,030 - 7,851 U.S. Treasury, general account 5,436 + 591 + 514 Foreign official 81 + 3 - 415 Other (0) 245 - 7 - 91 Deferred availability cash items (1,080) 5,938 + 100 - 2,260 Other liabilities and accrued dividends (7) 2,759 + 74 + 549 Total liabilities (1,080) 767,188 + 4,262 + 31,331 Capital Accounts Capital paid in 10,502 + 1 + 1,756 Surplus 8,847 0 + 467 Other capital accounts 1,068 - 49 + 7 Total capital 20,416 - 50 + 2,229 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 29, 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 236 53,247 - 822 0 0 29,500 24,337 16 days to 90 days 15 152,822 + 631 0 0 0 0 91 days to 1 year 0 166,092 + 217 0 0 ------ ------ Over 1 to 5 years ------ 199,624 + 113 0 0 ------ ------ Over 5 to 10 years ------ 50,517 + 314 0 0 ------ ------ Over 10 years ------ 76,315 + 3 0 0 ------ ------ All 251 698,617 + 456 0 0 29,500 24,337 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 29, 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 777 20 43 41 44 76 87 101 51 23 51 128 113 Securities, repurchase agreements, and loans 728,368 32,810 332,430 20,790 29,852 53,098 47,128 63,004 20,552 15,318 18,393 31,857 63,136 Securities held outright 698,617 32,805 302,930 20,779 29,852 53,098 47,113 62,930 20,525 15,238 18,358 31,854 63,136 U.S. Treasury (1) 698,617 32,805 302,930 20,779 29,852 53,098 47,113 62,930 20,525 15,238 18,358 31,854 63,136 Bills (2) 257,079 12,072 111,473 7,646 10,985 19,539 17,337 23,157 7,553 5,607 6,756 11,722 23,233 Notes and bonds(3) 441,538 20,733 191,457 13,132 18,867 33,559 29,776 39,773 12,972 9,631 11,603 20,132 39,903 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 29,500 0 29,500 0 0 0 0 0 0 0 0 0 0 Loans 251 5 0 11 0 0 15 74 28 80 34 4 0 Items in process of collection 6,682 347 507 484 371 446 673 458 301 492 433 203 1,969 Bank premises 1,731 97 191 51 155 144 279 145 59 124 76 230 180 Other assets(5) 37,887 1,712 13,634 1,139 2,326 5,929 2,164 3,413 987 1,117 782 973 3,710 Interdistrict settlement account 0 + 3,558 -37,286 + 3,517 + 1,057 + 1,866 +11,330 - 66 + 1,659 - 468 + 2,310 + 3,209 + 9,316 Total Assets 788,685 39,153 315,042 26,488 34,359 62,526 62,720 68,191 24,004 16,854 22,413 37,224 79,712 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 29, 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 830,341 38,135 320,002 32,775 35,035 64,214 73,203 68,979 25,239 16,166 24,574 42,447 89,572 Less: notes held by F.R. Banks 126,891 4,463 34,988 8,949 5,774 11,669 16,387 8,368 3,295 1,622 4,630 7,842 18,904 Federal Reserve notes, net 703,451 33,671 285,014 23,826 29,261 52,544 56,817 60,611 21,945 14,544 19,944 34,605 70,668 Reverse repurchase agreements (1) 24,337 1,143 10,553 724 1,040 1,850 1,641 2,192 715 531 640 1,110 2,199 Deposits 30,704 1,439 13,426 774 1,975 3,183 2,145 2,500 547 464 1,012 708 2,530 Depository institutions 24,943 1,436 7,767 773 1,970 3,107 2,142 2,497 545 462 1,010 707 2,526 U.S. Treasury, general account 5,436 0 5,436 0 0 0 0 0 0 0 0 0 0 Foreign official 81 2 58 1 2 7 2 3 1 1 1 0 4 Other 245 1 165 0 3 69 2 0 1 0 1 0 0 Deferred availability cash items 7,018 515 670 478 404 437 829 548 200 607 394 381 1,555 Other liabilities and accrued dividends (2) 2,759 161 878 105 138 303 227 256 120 92 102 147 231 Total liabilities 768,269 36,929 310,542 25,907 32,819 58,316 61,659 66,106 23,526 16,237 22,093 36,950 77,184 Capital Capital paid in 10,502 1,634 2,159 285 762 2,089 517 1,025 238 263 149 131 1,249 Surplus 8,847 448 2,031 259 727 2,074 489 924 228 346 162 111 1,048 Other capital 1,068 142 310 37 51 46 55 135 11 8 8 32 232 Total liabilities and capital 788,685 39,153 315,042 26,488 34,359 62,526 62,720 68,191 24,004 16,854 22,413 37,224 79,712 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 29, 2004 Federal Reserve notes outstanding 830,341 Less: Notes held by F.R. Banks not subject to collateralization 126,891 Federal Reserve Notes to be collateralized 703,451 Collateral held against Federal Reserve notes 703,451 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 690,212 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 728,117 Less:face value of securities under reverse repurchase agreements 24,348 U.S. Treasury and agency securities eligible to be pledged 703,769 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.