FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks August 28, 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 27, 2003 Aug 20, 2003 Aug 28, 2002 Aug 27, 2003 Federal Reserve Banks Reserve Bank Credit 715,426 - 11,116 + 59,803 718,966 Securities held outright 653,644 + 198 + 49,864 653,681 U.S. Treasury (1) 653,634 + 198 + 49,864 653,671 Bills (2) 240,492 + 194 + 36,866 240,528 Notes and bonds, nominal (2) 398,853 0 + 12,108 398,853 Notes and bonds, inflation-indexed (2) 12,814 0 + 572 12,814 Inflation compensation (3) 1,474 + 3 + 318 1,476 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 24,607 - 9,464 + 11,143 29,000 Loans to depository institutions 157 - 780 - 824 161 Primary credit 1 - 718 + 1 2 Secondary credit 0 - 66 0 0 Seasonal credit 156 + 4 - 42 159 Adjustment credit 0 0 - 783 0 Float 183 - 661 + 231 -434 Other Federal Reserve assets 36,834 - 409 - 613 36,558 Gold stock 11,043 0 + 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 35,177 + 14 + 980 35,177 Total factors supplying reserve funds 763,846 - 11,102 + 60,784 767,386 Currency in circulation(5) 694,728 + 28 + 34,710 697,377 Reverse repurchase agreements (6) 19,223 - 883 + 19,223 19,119 Foreign official and international accounts 19,223 - 883 + 19,223 19,119 Dealers 0 0 0 0 Treasury cash holdings 338 - 17 - 31 335 Deposits with F.R.Banks, other than reserve balances 17,613 + 95 + 1,174 17,050 U.S. Treasury, general account 5,974 + 330 - 39 5,441 Foreign official 86 - 152 + 8 81 Service-related 11,246 - 85 + 1,102 11,246 Required clearing balances 10,910 - 2 + 988 10,910 Adjustments to compensate for float 337 - 82 + 115 337 Other 306 + 2 + 103 282 Other liabilities and capital 19,997 - 307 + 703 19,912 Total factors, other than reserve balances, absorbing reserve funds 751,899 - 1,084 + 55,780 753,792 Reserve balances with Federal Reserve Banks 11,947 - 10,018 + 5,004 13,594 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 948,750 + 2,568 ------ 949,401 U.S. Treasury 761,768 + 1,280 ------ 761,587 Federal agency 186,982 + 1,287 ------ 187,814 Securities lent to dealers 1,629 - 2,603 + 1,208 2,346 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 27, 2003 Aug 20, 2003 Aug 28, 2002 Assets Gold certificate account 11,039 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 887 - 10 - 134 Securities, repurchase agreements, and loans 682,842 - 10,446 + 62,242 Securities held outright 653,681 + 155 + 49,270 U.S. Treasury (1) 653,671 + 155 + 49,270 Bills (2) 240,528 + 152 + 36,756 Notes and bonds, nominal (2) 398,853 0 + 11,624 Notes and bonds, inflation-indexed (2) 12,814 0 + 572 Inflation compensation (3) 1,476 + 4 + 319 Federal agency (2) 10 0 0 Repurchase agreements (4) 29,000 - 10,500 + 13,000 Loans 161 - 101 - 28 Items in process of collection (1,104) 7,586 + 30 + 960 Bank premises 1,590 0 + 68 Other assets (5) 35,389 + 235 - 867 Total assets (1,104) 741,534 - 10,190 + 62,271 Liabilities Federal Reserve notes net of FR Bank holdings 663,418 + 1,691 + 33,686 Reverse repurchase agreements (6) 19,119 - 1,225 + 19,119 Deposits (0) 31,731 - 10,372 + 8,515 Depository institutions 25,927 - 9,261 + 8,078 U.S. Treasury, general account 5,441 - 1,092 + 350 Foreign official 81 0 + 4 Other (0) 282 - 19 + 83 Deferred availability cash items (1,104) 7,355 - 312 + 405 Other liabilities and accrued dividends (7) 2,204 + 42 - 188 Total liabilities (1,104) 723,825 - 10,178 + 61,535 Capital Accounts Capital paid in 8,748 + 23 + 500 Surplus 8,380 0 + 1,068 Other capital accounts 580 - 37 - 833 Total capital 17,708 - 14 + 735 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 27, 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 138 50,191 + 782 0 0 24,000 19,119 16 days to 90 days 23 135,304 - 547 0 0 5,000 0 91 days to 1 year 0 160,830 - 84 10 0 ------ ------ Over 1 to 5 years ------ 180,033 + 1 0 0 ------ ------ Over 5 to 10 years ------ 50,384 + 1 0 0 ------ ------ Over 10 years ------ 76,929 + 1 0 0 ------ ------ All 161 653,671 + 155 10 0 29,000 19,119 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 27, 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 887 31 35 48 39 108 113 110 60 31 55 155 103 Securities, repurchase agreements, and loans 682,842 31,603 308,666 20,437 30,630 50,271 44,173 66,091 20,592 14,644 17,589 25,620 52,527 Securities held outright 653,681 31,603 279,666 20,437 30,630 50,270 44,160 66,055 20,566 14,591 17,567 25,618 52,520 U.S. Treasury (1) 653,671 31,602 279,662 20,436 30,629 50,269 44,159 66,054 20,565 14,591 17,567 25,617 52,519 Bills (2) 240,528 11,628 102,906 7,520 11,271 18,497 16,249 24,305 7,567 5,369 6,464 9,426 19,325 Notes and bonds(3) 413,143 19,974 176,756 12,917 19,359 31,772 27,910 41,748 12,998 9,222 11,103 16,191 33,194 Federal agency (2) 10 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements(4) 29,000 0 29,000 0 0 0 0 0 0 0 0 0 0 Loans 161 0 0 0 0 1 13 36 26 53 22 3 7 Items in process of collection 8,690 467 621 302 557 481 680 869 355 480 570 525 2,785 Bank premises 1,590 91 187 52 152 142 277 119 43 126 54 170 176 Other assets(5) 35,389 1,630 12,758 976 2,216 5,662 2,040 3,272 906 1,060 841 999 3,027 Interdistrict settlement account 0 - 4,414 + 6,704 - 70 - 3,345 + 2,414 + 890 - 7,199 - 1,207 - 166 - 649 + 2,442 + 4,599 Total Assets 742,638 30,018 334,551 22,208 30,830 60,033 49,202 64,457 21,150 16,429 18,831 30,515 64,414 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 27, 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 780,878 31,543 332,273 27,183 31,920 58,535 64,353 67,184 23,676 15,823 21,473 35,449 71,466 Less: notes held by F.R. Banks 117,460 5,085 24,209 8,001 5,553 10,381 20,467 9,653 4,756 1,572 4,811 7,491 15,482 Federal Reserve notes, net 663,418 26,458 308,064 19,182 26,367 48,155 43,886 57,531 18,920 14,251 16,662 27,957 55,984 Reverse repurchase agreements (1) 19,119 924 8,180 598 896 1,470 1,292 1,932 601 427 514 749 1,536 Deposits 31,731 1,102 12,615 1,308 1,547 5,436 1,964 2,236 781 568 701 872 2,602 Depository institutions 25,927 1,095 6,961 1,307 1,543 5,317 1,962 2,232 774 567 699 871 2,599 U.S. Treasury, general account 5,441 0 5,441 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 282 5 156 0 1 111 0 1 6 0 1 0 0 Deferred availability cash items 8,459 507 908 516 483 590 909 683 293 405 469 446 2,250 Other liabilities and accrued dividends (2) 2,204 126 683 91 119 235 179 220 97 83 89 111 169 Total liabilities 724,930 29,117 330,449 21,695 29,412 55,886 48,231 62,602 20,692 15,733 18,435 30,135 62,542 Capital Capital paid in 8,748 446 1,998 253 702 2,072 478 915 228 348 193 183 931 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 580 18 294 27 13 2 17 82 32 9 2 11 74 Total liabilities and capital 742,638 30,018 334,551 22,208 30,830 60,033 49,202 64,457 21,150 16,429 18,831 30,515 64,414 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 27, 2003 Federal Reserve notes outstanding 780,878 Less: Notes held by F.R. Banks not subject to collateralization 112,697 Federal Reserve Notes to be collateralized 668,181 Collateral held against Federal Reserve notes 668,181 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 654,942 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities (1) 682,681 Less:face value of securities under reverse repurchase agreements 19,124 U.S. Treasury and agency securities eligible to be pledged 663,558 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.