FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks October 2, 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 Oct 1, 2003 Sep 24, 2003 Oct 2, 2002 Oct 1, 2003 Federal Reserve Banks Reserve Bank Credit 727,180 + 9,572 + 65,544 731,678 Securities held outright 656,119 + 129 + 50,709 656,196 U.S. Treasury (1) 656,109 + 129 + 50,709 656,186 Bills (2) 241,527 + 125 + 38,108 241,601 Notes and bonds, nominal (2) 399,595 0 + 11,029 399,595 Notes and bonds, inflation-indexed (2) 13,454 0 + 1,212 13,454 Inflation compensation (3) 1,533 + 4 + 361 1,535 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 32,107 + 9,821 + 14,500 36,750 Loans to depository institutions 178 - 58 + 7 151 Primary credit 23 - 50 + 23 20 Secondary credit 0 0 0 0 Seasonal credit 155 - 8 - 16 131 Adjustment credit 0 0 0 0 Float -613 - 901 - 663 -898 Other Federal Reserve assets 39,389 + 580 + 992 39,479 Gold stock 11,043 0 + 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 35,257 + 14 + 942 35,257 Total factors supplying reserve funds 775,680 + 9,586 + 66,487 780,178 Currency in circulation(5) 696,766 + 823 + 36,628 698,877 Reverse repurchase agreements (6) 21,384 + 839 + 21,384 22,090 Foreign official and international accounts 21,384 + 839 + 21,384 22,090 Dealers 0 0 0 0 Treasury cash holdings 343 + 7 - 36 356 Deposits with F.R.Banks, other than reserve balances 19,139 - 267 + 2,476 17,268 U.S. Treasury, general account 6,922 - 618 + 740 4,922 Foreign official 459 + 357 + 372 496 Service-related 11,515 + 21 + 1,345 11,515 Required clearing balances 11,225 - 1 + 1,288 11,225 Adjustments to compensate for float 290 + 22 + 58 290 Other 243 - 27 + 19 336 Other liabilities and capital 20,915 + 160 + 1,433 20,397 Total factors, other than reserve balances, absorbing reserve funds 758,548 + 1,563 + 61,886 758,989 Reserve balances with Federal Reserve Banks 17,132 + 8,023 + 4,601 21,190 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 973,530 + 10,173 ------ 980,146 U.S. Treasury 781,726 + 6,931 ------ 786,561 Federal agency 191,804 + 3,243 ------ 193,585 Securities lent to dealers 3,689 + 3,074 + 2,152 2,048 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 Oct 1, 2003 Sep 24, 2003 Oct 2, 2002 Assets Gold certificate account 11,039 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 839 - 10 - 239 Securities, repurchase agreements, and loans 693,097 + 10,752 + 69,490 Securities held outright 656,196 + 193 + 49,996 U.S. Treasury (1) 656,186 + 193 + 49,996 Bills (2) 241,601 + 187 + 37,395 Notes and bonds, nominal (2) 399,595 0 + 11,029 Notes and bonds, inflation-indexed (2) 13,454 0 + 1,212 Inflation compensation (3) 1,535 + 5 + 360 Federal agency (2) 10 0 0 Repurchase agreements (4) 36,750 + 10,750 + 19,500 Loans 151 - 190 - 6 Items in process of collection (1,291) 7,399 + 864 - 1,412 Bank premises 1,594 - 1 + 75 Other assets (5) 37,876 + 355 + 1,114 Total assets (1,291) 754,045 + 11,961 + 69,031 Liabilities Federal Reserve notes net of FR Bank holdings 664,812 + 1,498 + 35,547 Reverse repurchase agreements (6) 22,090 + 3,289 + 22,090 Deposits (0) 38,548 + 6,340 + 11,030 Depository institutions 32,794 + 7,767 + 10,761 U.S. Treasury, general account 4,922 - 1,915 - 238 Foreign official 496 + 414 + 419 Other (0) 336 + 74 + 88 Deferred availability cash items (1,291) 8,198 + 1,086 - 706 Other liabilities and accrued dividends (7) 2,210 - 35 - 197 Total liabilities (1,291) 735,857 + 12,176 + 67,762 Capital Accounts Capital paid in 8,746 - 12 + 481 Surplus 8,380 0 + 1,068 Other capital accounts 1,061 - 204 - 282 Total capital 18,187 - 216 + 1,267 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, October 1, 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 31 45,734 - 6,694 0 0 36,750 22,090 16 days to 90 days 120 138,437 + 1,128 10 0 0 0 91 days to 1 year 0 166,362 + 6,870 0 0 ------ ------ Over 1 to 5 years ------ 176,904 - 1,116 0 0 ------ ------ Over 5 to 10 years ------ 51,660 + 2 0 0 ------ ------ Over 10 years ------ 77,090 + 2 0 0 ------ ------ All 151 656,186 + 193 10 0 36,750 22,090 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 October 1, 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 839 27 36 38 35 100 111 106 57 27 48 155 101 Securities, repurchase agreements, and loans 693,097 31,724 317,492 20,515 30,748 50,463 44,336 66,346 20,670 14,687 17,654 25,716 52,746 Securities held outright 656,196 31,724 280,742 20,515 30,748 50,463 44,330 66,309 20,645 14,647 17,635 25,716 52,722 U.S. Treasury (1) 656,186 31,724 280,737 20,515 30,747 50,463 44,329 66,308 20,644 14,647 17,635 25,716 52,721 Bills (2) 241,601 11,680 103,365 7,553 11,321 18,580 16,322 24,414 7,601 5,393 6,493 9,468 19,411 Notes and bonds(3) 414,585 20,043 177,373 12,962 19,426 31,883 28,008 41,894 13,043 9,254 11,142 16,247 33,309 Federal agency (2) 10 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements(4) 36,750 0 36,750 0 0 0 0 0 0 0 0 0 0 Loans 151 0 0 0 0 0 6 37 25 40 19 0 24 Items in process of collection 8,691 716 632 568 293 661 585 528 399 491 544 354 2,920 Bank premises 1,594 91 189 52 150 143 277 120 43 125 54 172 176 Other assets(5) 37,876 1,752 13,559 1,078 2,378 6,062 2,192 3,525 970 1,138 898 1,074 3,251 Interdistrict settlement account 0 + 1,784 - 4,669 - 1,114 + 332 + 887 + 2,220 - 7,161 - 1,219 + 23 - 384 + 2,626 + 6,674 Total Assets 755,336 36,705 332,818 21,600 34,517 59,272 50,749 64,658 21,321 16,745 19,184 30,701 67,066 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 October 1, 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 789,028 35,209 329,533 27,713 33,212 59,260 64,171 66,917 23,580 15,809 21,578 35,963 76,082 Less: notes held by F.R. Banks 124,216 5,697 25,884 9,213 5,679 10,586 19,128 10,678 4,627 1,702 4,958 8,206 17,858 Federal Reserve notes, net 664,812 29,512 303,649 18,501 27,533 48,674 45,043 56,239 18,953 14,107 16,620 27,758 58,224 Reverse repurchase agreements (1) 22,090 1,068 9,451 691 1,035 1,699 1,492 2,232 695 493 594 866 1,775 Deposits 38,548 4,464 13,758 1,204 3,919 3,721 2,053 3,328 768 873 1,030 1,014 2,415 Depository institutions 32,794 4,454 8,213 1,203 3,916 3,549 2,051 3,324 760 871 1,028 1,013 2,412 U.S. Treasury, general account 4,922 0 4,922 0 0 0 0 0 0 0 0 0 0 Foreign official 496 2 472 1 3 7 2 3 1 1 1 1 3 Other 336 9 151 0 0 164 0 1 8 0 1 1 0 Deferred availability cash items 9,490 607 1,024 586 460 698 983 735 332 472 448 563 2,582 Other liabilities and accrued dividends (2) 2,210 126 684 91 120 242 176 223 100 86 87 110 166 Total liabilities 737,149 35,777 328,566 21,073 33,067 55,033 49,748 62,757 20,847 16,030 18,779 30,310 65,162 Capital Capital paid in 8,746 448 1,997 255 705 2,073 478 917 228 348 196 184 918 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 1,061 44 446 39 44 92 48 126 47 28 8 21 118 Total liabilities and capital 755,336 36,705 332,818 21,600 34,517 59,272 50,749 64,658 21,321 16,745 19,184 30,701 67,066 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 Oct 1, 2003 Federal Reserve notes outstanding 789,028 Less: Notes held by F.R. Banks not subject to collateralization 119,110 Federal Reserve Notes to be collateralized 669,918 Collateral held against Federal Reserve notes 669,918 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 656,679 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities (1) 692,946 Less:face value of securities under reverse repurchase agreements 22,094 U.S. Treasury and agency securities eligible to be pledged 670,851 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.