FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks August 7, 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 Aug 6, 2003 Jul 30, 2003 Aug 7, 2002 Aug 6, 2003 Federal Reserve Banks Reserve Bank Credit 716,002 + 2,594 + 58,434 711,935 Securities held outright 652,996 + 153 + 52,878 653,034 U.S. Treasury (1) 652,986 + 153 + 52,878 653,024 Bills (2) 239,855 + 154 + 37,497 239,892 Notes and bonds, nominal (2) 398,853 0 + 14,497 398,853 Notes and bonds, inflation-indexed (2) 12,814 0 + 572 12,814 Inflation compensation (3) 1,464 - 1 + 313 1,465 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 22,500 + 1,643 + 5,107 18,250 Loans to depository institutions 154 + 28 - 30 143 Primary credit 21 + 20 + 21 3 Secondary credit 0 0 0 0 Seasonal credit 133 + 8 - 46 140 Adjustment credit 0 0 - 6 0 Float 496 + 946 + 698 455 Other Federal Reserve assets 39,856 - 176 - 218 40,052 Gold stock 11,043 - 1 + 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 35,102 + 14 + 1,056 35,102 Total factors supplying reserve funds 764,347 + 2,608 + 59,491 760,280 Currency in circulation(5) 694,262 + 1,737 + 33,342 696,091 Reverse repurchase agreements (6) 18,946 - 970 + 18,946 19,062 Foreign official and international accounts 18,946 - 970 + 18,946 19,062 Dealers 0 0 0 0 Treasury cash holdings 365 + 22 - 12 371 Deposits with F.R.Banks, other than reserve balances 17,398 - 608 + 1,839 18,135 U.S. Treasury, general account 5,639 - 566 + 614 6,400 Foreign official 177 - 82 + 78 141 Service-related 11,287 - 4 + 1,080 11,287 Required clearing balances 10,898 0 + 939 10,898 Adjustments to compensate for float 390 - 4 + 142 390 Other 294 + 43 + 65 307 Other liabilities and capital 19,850 - 378 + 643 19,872 Total factors, other than reserve balances, absorbing reserve funds 750,821 - 197 + 54,757 753,531 Reserve balances with Federal Reserve Banks 13,526 + 2,804 + 4,733 6,749 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 936,578 + 4,824 ------ 935,715 U.S. Treasury 752,600 + 4,490 ------ 753,009 Federal agency 183,978 + 334 ------ 182,707 Securities lent to dealers 2,765 + 709 + 1,488 4,784 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 Aug 6, 2003 Jul 30, 2003 Aug 7, 2002 Assets Gold certificate account 11,039 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 870 + 1 - 102 Securities, repurchase agreements, and loans 671,427 - 7,830 + 43,915 Securities held outright 653,034 + 168 + 51,702 U.S. Treasury (1) 653,024 + 168 + 51,702 Bills (2) 239,892 + 166 + 36,978 Notes and bonds, nominal (2) 398,853 0 + 13,840 Notes and bonds, inflation-indexed (2) 12,814 0 + 572 Inflation compensation (3) 1,465 + 2 + 313 Federal agency (2) 10 0 0 Repurchase agreements (4) 18,250 - 8,000 - 7,750 Loans 143 + 2 - 37 Items in process of collection (1,129) 9,337 + 1,494 + 1,776 Bank premises 1,586 0 + 67 Other assets (5) 38,431 + 54 - 140 Total assets (1,129) 734,891 - 6,281 + 45,517 Liabilities Federal Reserve notes net of FR Bank holdings 662,226 + 1,540 + 32,595 Reverse repurchase agreements (6) 19,062 - 254 + 19,062 Deposits (0) 25,188 - 7,963 - 7,508 Depository institutions 18,340 - 7,539 - 8,763 U.S. Treasury, general account 6,400 + 226 + 1,084 Foreign official 141 - 711 + 67 Other (0) 307 + 61 + 104 Deferred availability cash items (1,129) 8,543 + 268 + 654 Other liabilities and accrued dividends (7) 2,125 - 26 - 252 Total liabilities (1,129) 717,144 - 6,434 + 44,551 Capital Accounts Capital paid in 8,721 + 2 + 437 Surplus 8,380 + 17 + 1,068 Other capital accounts 646 + 133 - 540 Total capital 17,747 + 153 + 966 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, August 6, 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 51,281 + 5,233 0 0 15,250 19,062 16 days to 90 days 106 137,369 - 3,811 0 0 3,000 0 91 days to 1 year 0 161,900 + 2,240 10 0 ------ ------ Over 1 to 5 years ------ 177,684 - 1,665 0 0 ------ ------ Over 5 to 10 years ------ 44,824 - 1,830 0 0 ------ ------ Over 10 years ------ 79,966 + 1 0 0 ------ ------ All 143 653,024 + 168 10 0 18,250 19,062 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 6, 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 870 35 30 45 39 109 115 108 56 32 57 151 95 Securities, repurchase agreements, and loans 671,427 31,571 297,639 20,417 30,600 50,220 44,129 66,019 20,569 14,629 17,564 25,595 52,475 Securities held outright 653,034 31,571 279,389 20,417 30,600 50,220 44,116 65,989 20,545 14,577 17,550 25,592 52,468 U.S. Treasury (1) 653,024 31,571 279,385 20,416 30,599 50,220 44,116 65,988 20,545 14,576 17,550 25,592 52,467 Bills (2) 239,892 11,598 102,633 7,500 11,241 18,448 16,206 24,241 7,547 5,355 6,447 9,401 19,274 Notes and bonds(3) 413,132 19,973 176,751 12,916 19,358 31,771 27,910 41,747 12,998 9,222 11,103 16,191 33,193 Federal agency (2) 10 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements(4) 18,250 0 18,250 0 0 0 0 0 0 0 0 0 0 Loans 143 0 0 1 0 0 13 29 24 52 14 3 8 Items in process of collection 10,466 850 688 592 465 730 946 977 568 355 677 701 2,918 Bank premises 1,586 91 186 52 152 143 278 119 43 126 54 167 176 Other assets(5) 38,431 1,775 13,966 1,134 2,364 5,942 2,242 3,573 997 1,134 922 1,113 3,270 Interdistrict settlement account 0 - 4,615 +15,933 - 2,571 - 3,734 - 1,113 - 72 - 7,118 - 1,313 - 574 - 750 + 2,628 + 3,300 Total Assets 736,020 30,317 334,022 20,132 30,466 56,985 48,667 64,871 21,322 15,956 18,893 30,959 63,430 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 6, 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 775,502 31,508 333,179 25,551 31,271 58,388 63,569 66,839 23,406 15,330 21,370 35,377 69,714 Less: notes held by F.R. Banks 113,276 5,031 22,962 7,985 5,034 10,013 20,316 9,213 4,338 1,588 4,656 7,182 14,958 Federal Reserve notes, net 662,226 26,476 310,217 17,567 26,237 48,375 43,254 57,627 19,068 13,742 16,714 28,195 54,756 Reverse repurchase agreements (1) 19,062 922 8,155 596 893 1,466 1,288 1,926 600 425 512 747 1,532 Deposits 25,188 1,204 9,939 767 1,205 2,072 2,004 2,483 739 595 666 995 2,517 Depository institutions 18,340 1,197 3,261 766 1,202 1,929 2,002 2,479 737 594 664 994 2,513 U.S. Treasury, general account 6,400 0 6,400 0 0 0 0 0 0 0 0 0 0 Foreign official 141 2 117 1 3 7 2 3 1 1 1 1 3 Other 307 6 161 0 0 136 0 1 1 0 1 1 0 Deferred availability cash items 9,672 686 977 600 594 677 972 765 352 407 516 540 2,587 Other liabilities and accrued dividends (2) 2,125 121 661 89 115 219 178 212 94 85 86 106 158 Total liabilities 718,273 29,409 329,948 19,619 29,043 52,809 47,696 63,013 20,853 15,255 18,495 30,583 61,549 Capital Capital paid in 8,721 446 1,952 253 707 2,092 477 915 228 348 192 183 931 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 646 26 314 27 13 11 19 85 42 14 6 7 82 Total liabilities and capital 736,020 30,317 334,022 20,132 30,466 56,985 48,667 64,871 21,322 15,956 18,893 30,959 63,430 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 6, 2003 Federal Reserve notes outstanding 775,502 Less: Notes held by F.R. Banks not subject to collateralization 108,511 Federal Reserve Notes to be collateralized 666,991 Collateral held against Federal Reserve notes 666,991 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 652,217 Other eligible assets 1,534 Memo: Total U.S. Treasury and agency securities (1) 671,284 Less:face value of securities under reverse repurchase agreements 19,067 U.S. Treasury and agency securities eligible to be pledged 652,217 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.