FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks August 21, 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 20, 2003 Aug 13, 2003 Aug 21, 2002 Aug 20, 2003 Federal Reserve Banks Reserve Bank Credit 726,540 + 14,715 + 67,907 730,577 Securities held outright 653,446 + 374 + 51,297 653,526 U.S. Treasury (1) 653,436 + 374 + 51,297 653,516 Bills (2) 240,298 + 371 + 37,279 240,376 Notes and bonds, nominal (2) 398,853 0 + 13,129 398,853 Notes and bonds, inflation-indexed (2) 12,814 0 + 572 12,814 Inflation compensation (3) 1,471 + 4 + 316 1,472 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 34,071 + 16,392 + 14,571 39,500 Loans to depository institutions 937 + 792 + 744 262 Primary credit 719 + 712 + 719 105 Secondary credit 66 + 66 + 66 0 Seasonal credit 152 + 14 - 39 157 Adjustment credit 0 0 - 2 0 Float 843 + 247 + 1,151 501 Other Federal Reserve assets 37,243 - 3,091 + 144 36,789 Gold stock 11,043 0 + 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 35,163 + 14 + 1,016 35,163 Total factors supplying reserve funds 774,947 + 14,730 + 68,925 778,984 Currency in circulation(5) 694,700 - 270 + 34,299 695,659 Reverse repurchase agreements (6) 20,106 + 543 + 20,106 20,344 Foreign official and international accounts 20,106 + 543 + 20,106 20,344 Dealers 0 0 0 0 Treasury cash holdings 355 - 14 - 16 338 Deposits with F.R.Banks, other than reserve balances 17,518 + 313 + 2,630 18,247 U.S. Treasury, general account 5,644 + 33 + 1,257 6,533 Foreign official 238 + 89 + 109 81 Service-related 11,331 + 173 + 1,170 11,331 Required clearing balances 10,912 - 1 + 992 10,912 Adjustments to compensate for float 419 + 174 + 178 419 Other 304 + 17 + 93 301 Other liabilities and capital 20,304 + 114 + 603 19,884 Total factors, other than reserve balances, absorbing reserve funds 752,983 + 685 + 57,621 754,472 Reserve balances with Federal Reserve Banks 21,963 + 14,043 + 11,302 24,512 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 946,182 + 6,398 ------ 945,863 U.S. Treasury 760,488 + 6,951 ------ 759,937 Federal agency 185,695 - 551 ------ 185,925 Securities lent to dealers 4,232 + 2,101 + 3,452 2,196 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 20, 2003 Aug 13, 2003 Aug 21, 2002 Assets Gold certificate account 11,039 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 897 + 9 - 120 Securities, repurchase agreements, and loans 693,288 + 20,837 + 64,905 Securities held outright 653,526 + 238 + 50,597 U.S. Treasury (1) 653,516 + 238 + 50,597 Bills (2) 240,376 + 234 + 37,237 Notes and bonds, nominal (2) 398,853 0 + 12,471 Notes and bonds, inflation-indexed (2) 12,814 0 + 572 Inflation compensation (3) 1,472 + 3 + 316 Federal agency (2) 10 0 0 Repurchase agreements (4) 39,500 + 20,500 + 14,250 Loans 262 + 98 + 58 Items in process of collection (1,167) 7,556 - 1,728 + 565 Bank premises 1,590 + 3 + 68 Other assets (5) 35,154 - 3,651 - 583 Total assets (1,167) 751,724 + 15,469 + 64,836 Liabilities Federal Reserve notes net of FR Bank holdings 661,727 - 287 + 33,540 Reverse repurchase agreements (6) 20,344 + 1,206 + 20,344 Deposits (0) 42,103 + 14,888 + 9,910 Depository institutions 35,188 + 14,498 + 7,915 U.S. Treasury, general account 6,533 + 813 + 1,904 Foreign official 81 - 444 - 8 Other (0) 301 + 20 + 99 Deferred availability cash items (1,167) 7,667 - 177 + 365 Other liabilities and accrued dividends (7) 2,162 + 3 - 226 Total liabilities (1,167) 734,003 + 15,633 + 63,932 Capital Accounts Capital paid in 8,725 + 1 + 422 Surplus 8,380 0 + 1,068 Other capital accounts 617 - 163 - 586 Total capital 17,722 - 162 + 905 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 20, 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 261 49,409 - 2,742 0 0 32,500 20,344 16 days to 90 days 1 135,851 - 733 0 0 7,000 0 91 days to 1 year 0 160,914 - 1,151 10 0 ------ ------ Over 1 to 5 years ------ 180,032 + 2,347 0 0 ------ ------ Over 5 to 10 years ------ 50,383 + 5,558 0 0 ------ ------ Over 10 years ------ 76,928 - 3,039 0 0 ------ ------ All 262 653,516 + 238 10 0 39,500 20,344 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 20, 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 897 32 33 48 42 112 113 114 61 32 58 155 98 Securities, repurchase agreements, and loans 693,288 31,597 319,199 20,432 30,623 50,258 44,163 66,076 20,584 14,645 17,583 25,613 52,515 Securities held outright 653,526 31,595 279,599 20,432 30,623 50,258 44,150 66,039 20,561 14,588 17,563 25,611 52,507 U.S. Treasury (1) 653,516 31,595 279,595 20,432 30,622 50,257 44,149 66,038 20,560 14,587 17,563 25,611 52,506 Bills (2) 240,376 11,621 102,841 7,515 11,263 18,486 16,239 24,290 7,563 5,366 6,460 9,420 19,313 Notes and bonds(3) 413,140 19,973 176,754 12,916 19,359 31,772 27,910 41,748 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) 39,500 0 39,500 0 0 0 0 0 0 0 0 0 0 Loans 262 2 100 0 0 0 13 37 23 57 20 2 8 Items in process of collection 8,723 403 693 423 363 646 774 1,069 340 453 549 420 2,590 Bank premises 1,590 91 186 52 152 143 278 119 43 126 54 170 176 Other assets(5) 35,154 1,620 12,618 970 2,208 5,679 2,019 3,249 898 1,059 835 988 3,011 Interdistrict settlement account 0 - 1,460 + 3,703 - 1,377 - 2,072 + 1,273 + 1,003 - 6,213 - 1,045 + 371 - 615 + 2,560 + 3,871 Total Assets 752,891 32,893 342,012 21,011 31,897 59,065 49,379 65,609 21,282 16,939 18,834 30,513 63,457 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 20, 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 779,566 31,508 332,447 26,450 31,897 58,618 64,542 67,105 23,531 15,658 21,531 35,480 70,798 Less: notes held by F.R. Banks 117,839 5,156 23,893 8,009 5,648 10,689 20,434 9,720 4,720 1,603 4,925 7,591 15,452 Federal Reserve notes, net 661,727 26,353 308,554 18,440 26,249 47,930 44,108 57,385 18,811 14,055 16,606 27,889 55,346 Reverse repurchase agreements (1) 20,344 984 8,704 636 953 1,565 1,374 2,056 640 454 547 797 1,635 Deposits 42,103 4,014 18,996 748 2,733 4,565 1,801 3,379 952 1,098 722 879 2,216 Depository institutions 35,188 3,987 12,252 747 2,730 4,445 1,799 3,375 946 1,097 720 878 2,212 U.S. Treasury, general account 6,533 0 6,533 0 0 0 0 0 0 0 0 0 0 Foreign official 81 2 57 1 3 7 2 3 1 1 1 1 3 Other 301 26 153 0 1 112 0 0 6 0 1 1 0 Deferred availability cash items 8,834 514 1,035 582 422 600 948 716 316 549 474 458 2,219 Other liabilities and accrued dividends (2) 2,162 126 675 91 115 219 175 219 95 85 86 110 165 Total liabilities 735,170 31,990 337,964 20,497 30,473 54,878 48,407 63,755 20,815 16,241 18,435 30,133 61,581 Capital Capital paid in 8,725 446 1,952 253 710 2,089 477 915 228 348 193 183 931 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 617 21 288 29 11 25 20 81 40 10 6 10 77 Total liabilities and capital 752,891 32,893 342,012 21,011 31,897 59,065 49,379 65,609 21,282 16,939 18,834 30,513 63,457 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 20, 2003 Federal Reserve notes outstanding 779,566 Less: Notes held by F.R. Banks not subject to collateralization 113,140 Federal Reserve Notes to be collateralized 666,426 Collateral held against Federal Reserve notes 666,426 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 653,187 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities (1) 693,026 Less:face value of securities under reverse repurchase agreements 20,349 U.S. Treasury and agency securities eligible to be pledged 672,677 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.