FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks October 30, 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 29, 2003 Oct 22, 2003 Oct 30, 2002 Oct 29, 2003 Federal Reserve Banks Reserve Bank Credit 726,848 + 5,726 + 64,412 727,168 Securities held outright 657,966 + 1,341 + 49,263 658,682 U.S. Treasury (1) 657,956 + 1,341 + 49,263 658,672 Bills (2) 242,161 + 164 + 35,487 242,308 Notes and bonds, nominal (2) 400,759 + 1,164 + 12,193 401,322 Notes and bonds, inflation-indexed (2) 13,454 0 + 1,212 13,454 Inflation compensation (3) 1,582 + 13 + 369 1,587 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 28,071 + 3,500 + 14,000 28,000 Loans to depository institutions 90 - 10 - 11 82 Primary credit 19 + 5 + 19 11 Secondary credit 0 0 0 0 Seasonal credit 71 - 15 - 27 71 Adjustment credit 0 0 - 3 0 Float -102 + 230 - 313 -487 Other Federal Reserve assets 40,823 + 667 + 1,473 40,891 Gold stock 11,043 0 + 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 35,313 + 14 + 942 35,313 Total factors supplying reserve funds 775,404 + 5,740 + 65,355 775,724 Currency in circulation(5) 702,012 - 622 + 39,910 703,467 Reverse repurchase agreements (6) 19,174 + 541 + 19,174 19,286 Foreign official and international accounts 19,174 + 541 + 19,174 19,286 Dealers 0 0 0 0 Treasury cash holdings 399 + 10 - 1 390 Deposits with F.R.Banks, other than reserve balances 16,920 - 394 + 1,576 17,472 U.S. Treasury, general account 5,125 - 278 + 326 5,672 Foreign official 81 - 16 - 76 85 Service-related 11,432 - 92 + 1,249 11,432 Required clearing balances 11,340 0 + 1,370 11,340 Adjustments to compensate for float 92 - 92 - 121 92 Other 283 - 6 + 78 283 Other liabilities and capital 20,506 + 270 + 855 20,106 Total factors, other than reserve balances, absorbing reserve funds 759,012 - 194 + 61,515 760,721 Reserve balances with Federal Reserve Banks 16,393 + 5,935 + 3,841 15,003 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 995,620 + 224 ------ 997,559 U.S. Treasury 794,655 - 4,381 ------ 794,308 Federal agency 200,965 + 4,605 ------ 203,252 Securities lent to dealers 1,075 - 840 - 659 2,073 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 29, 2003 Oct 22, 2003 Oct 30, 2002 Assets Gold certificate account 11,039 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 826 + 16 - 253 Securities, repurchase agreements, and loans 686,764 + 4,406 + 57,501 Securities held outright 658,682 + 1,918 + 50,007 U.S. Treasury (1) 658,672 + 1,918 + 50,007 Bills (2) 242,308 + 177 + 35,667 Notes and bonds, nominal (2) 401,322 + 1,727 + 12,756 Notes and bonds, inflation-indexed (2) 13,454 0 + 1,212 Inflation compensation (3) 1,587 + 13 + 372 Federal agency (2) 10 0 0 Repurchase agreements (4) 28,000 + 2,500 + 7,500 Loans 82 - 12 - 6 Items in process of collection (1,512) 6,443 - 1,162 - 2,916 Bank premises 1,596 - 1 + 68 Other assets (5) 39,289 + 437 + 1,209 Total assets (1,512) 748,158 + 3,696 + 55,611 Liabilities Federal Reserve notes net of FR Bank holdings 669,367 + 160 + 38,202 Reverse repurchase agreements (6) 19,286 + 1,175 + 19,286 Deposits (0) 32,601 + 3,298 - 1,852 Depository institutions 26,560 + 2,758 - 2,060 U.S. Treasury, general account 5,672 + 549 + 284 Foreign official 85 - 14 - 153 Other (0) 283 + 4 + 77 Deferred availability cash items (1,512) 6,799 - 714 - 548 Other liabilities and accrued dividends (7) 2,303 + 40 - 149 Total liabilities (1,512) 730,355 + 3,957 + 54,937 Capital Accounts Capital paid in 8,742 + 8 + 471 Surplus 8,380 0 + 1,068 Other capital accounts 681 - 269 - 865 Total capital 17,803 - 260 + 674 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, October 29, 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 73 49,082 - 1,347 0 0 28,000 19,286 16 days to 90 days 9 144,424 + 1,622 10 0 0 0 91 days to 1 year 0 157,733 - 98 0 0 ------ ------ Over 1 to 5 years ------ 178,364 + 1,450 0 0 ------ ------ Over 5 to 10 years ------ 51,958 + 285 0 0 ------ ------ Over 10 years ------ 77,110 + 5 0 0 ------ ------ All 82 658,672 + 1,918 10 0 28,000 19,286 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 29, 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 826 26 37 42 37 96 105 97 60 23 47 151 105 Securities, repurchase agreements, and loans 686,764 31,844 309,805 20,596 30,864 50,655 44,502 66,581 20,731 14,729 17,718 25,814 52,925 Securities held outright 658,682 31,844 281,805 20,593 30,864 50,655 44,498 66,560 20,723 14,703 17,702 25,814 52,921 U.S. Treasury (1) 658,672 31,844 281,801 20,593 30,864 50,654 44,497 66,559 20,723 14,703 17,701 25,813 52,921 Bills (2) 242,308 11,715 103,667 7,576 11,354 18,634 16,369 24,485 7,623 5,409 6,512 9,496 19,468 Notes and bonds(3) 416,364 20,129 178,134 13,017 19,510 32,020 28,128 42,074 13,099 9,294 11,190 16,317 33,452 Federal agency (2) 10 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements(4) 28,000 0 28,000 0 0 0 0 0 0 0 0 0 0 Loans 82 0 0 3 0 0 4 21 8 26 16 0 4 Items in process of collection 7,955 467 605 495 395 470 685 617 394 451 591 410 2,375 Bank premises 1,596 91 189 52 150 143 277 121 44 125 55 171 177 Other assets(5) 39,289 1,826 14,132 1,092 2,451 6,198 2,286 3,672 1,018 1,172 937 1,132 3,374 Interdistrict settlement account 0 + 1,223 + 214 - 1,303 - 2,085 - 300 + 2,252 - 7,970 - 1,687 + 427 - 442 + 3,260 + 6,409 Total Assets 749,670 36,088 330,563 21,436 32,392 58,217 51,136 64,312 20,962 17,181 19,276 31,544 66,562 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 29, 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 789,293 36,487 326,788 27,442 32,811 59,345 65,354 66,778 23,388 15,730 21,484 36,963 76,723 Less: notes held by F.R. Banks 119,926 5,593 22,730 8,736 5,769 10,465 19,067 10,485 4,590 1,509 4,634 8,043 18,305 Federal Reserve notes, net 669,367 30,894 304,058 18,706 27,042 48,881 46,286 56,294 18,797 14,220 16,849 28,920 58,418 Reverse repurchase agreements (1) 19,286 932 8,251 603 904 1,483 1,303 1,949 607 430 518 756 1,549 Deposits 32,601 2,428 12,499 1,016 2,439 2,903 1,604 3,299 734 1,214 959 992 2,513 Depository institutions 26,560 2,419 6,605 1,015 2,435 2,791 1,602 3,295 726 1,213 958 991 2,510 U.S. Treasury, general account 5,672 0 5,672 0 0 0 0 0 0 0 0 0 0 Foreign official 85 2 61 1 3 7 2 3 1 1 1 1 3 Other 283 7 161 0 1 104 0 1 7 0 1 0 0 Deferred availability cash items 8,311 790 898 493 464 550 784 670 256 527 459 376 2,045 Other liabilities and accrued dividends (2) 2,303 134 698 94 125 258 184 232 104 89 88 116 181 Total liabilities 731,867 35,178 326,406 20,912 30,973 54,075 50,161 62,443 20,498 16,480 18,874 31,161 64,706 Capital Capital paid in 8,742 448 1,999 259 705 2,061 478 917 229 348 196 184 918 Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868 Other capital 681 26 350 32 12 9 21 94 37 13 5 13 70 Total liabilities and capital 749,670 36,088 330,563 21,436 32,392 58,217 51,136 64,312 20,962 17,181 19,276 31,544 66,562 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 29, 2003 Federal Reserve notes outstanding 789,293 Less: Notes held by F.R. Banks not subject to collateralization 119,926 Federal Reserve Notes to be collateralized 669,367 Collateral held against Federal Reserve notes 669,367 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 656,127 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 686,682 Less:face value of securities under reverse repurchase agreements 19,319 U.S. Treasury and agency securities eligible to be pledged 667,363 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.