FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks November 6, 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 Nov 5, 2003 Oct 29, 2003 Nov 6, 2002 Nov 5, 2003 Federal Reserve Banks Reserve Bank Credit 725,126 - 1,707 + 64,561 722,578 Securities held outright 658,813 + 847 + 50,151 658,885 U.S. Treasury (1) 658,803 + 847 + 50,151 658,875 Bills (2) 242,433 + 272 + 35,809 242,500 Notes and bonds, nominal (2) 401,322 + 563 + 12,756 401,322 Notes and bonds, inflation-indexed (2) 13,454 0 + 1,212 13,454 Inflation compensation (3) 1,593 + 11 + 374 1,599 Federal agency (2) 10 0 0 10 Repurchase agreements(4) 24,000 - 4,071 + 11,964 19,000 Loans to depository institutions 135 + 45 - 288 49 Primary credit 82 + 63 + 82 4 Secondary credit 0 0 0 0 Seasonal credit 53 - 18 - 14 45 Adjustment credit 0 0 - 355 0 Float 1,491 + 1,608 + 1,455 3,979 Other Federal Reserve assets 40,687 - 136 + 1,279 40,664 Gold stock 11,043 0 + 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 35,363 + 14 + 978 35,363 Total factors supplying reserve funds 773,732 - 1,694 + 65,540 771,184 Currency in circulation(5) 703,289 + 1,240 + 39,341 705,008 Reverse repurchase agreements (6) 19,888 + 714 + 19,888 21,001 Foreign official and international accounts 18,924 - 250 + 18,924 18,251 Dealers 964 + 964 + 964 2,750 Treasury cash holdings 389 - 10 - 6 379 Deposits with F.R.Banks, other than reserve balances 17,892 + 972 + 1,769 17,118 U.S. Treasury, general account 5,680 + 555 + 342 4,615 Foreign official 196 + 115 + 80 458 Service-related 11,724 + 292 + 1,301 11,724 Required clearing balances 11,423 + 83 + 1,367 11,423 Adjustments to compensate for float 301 + 209 - 67 301 Other 293 + 10 + 48 320 Other liabilities and capital 20,025 - 481 + 170 19,841 Total factors, other than reserve balances, absorbing reserve funds 761,483 + 2,435 + 61,161 763,347 Reserve balances with Federal Reserve Banks 12,249 - 4,129 + 4,379 7,837 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,001,954 + 6,334 ------ 1,003,271 U.S. Treasury 799,027 + 4,372 ------ 798,608 Federal agency 202,927 + 1,962 ------ 204,663 Securities lent to dealers 1,560 + 485 - 576 1,778 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 Nov 5, 2003 Oct 29, 2003 Nov 6, 2002 Assets Gold certificate account 11,039 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 829 + 3 - 250 Securities, repurchase agreements, and loans 677,934 - 8,830 + 59,086 Securities held outright 658,885 + 203 + 50,105 U.S. Treasury (1) 658,875 + 203 + 50,105 Bills (2) 242,500 + 192 + 35,761 Notes and bonds, nominal (2) 401,322 0 + 12,756 Notes and bonds, inflation-indexed (2) 13,454 0 + 1,212 Inflation compensation (3) 1,599 + 12 + 377 Federal agency (2) 10 0 0 Repurchase agreements (4) 19,000 - 9,000 + 9,000 Loans 49 - 33 - 20 Items in process of collection (1,255) 12,400 + 5,957 + 3,115 Bank premises 1,598 + 2 + 69 Other assets (5) 39,015 - 274 + 898 Total assets (1,255) 745,015 - 3,143 + 62,918 Liabilities Federal Reserve notes net of FR Bank holdings 670,849 + 1,482 + 37,534 Reverse repurchase agreements (6) 21,001 + 1,715 + 21,001 Deposits (0) 24,960 - 7,641 + 4,169 Depository institutions 19,567 - 6,993 + 3,898 U.S. Treasury, general account 4,615 - 1,057 - 192 Foreign official 458 + 373 + 386 Other (0) 320 + 37 + 77 Deferred availability cash items (1,255) 8,364 + 1,565 - 56 Other liabilities and accrued dividends (7) 2,277 - 26 - 162 Total liabilities (1,255) 727,451 - 2,904 + 62,486 Capital Accounts Capital paid in 8,754 + 12 + 474 Surplus 8,335 - 45 + 1,023 Other capital accounts 475 - 206 - 1,065 Total capital 17,564 - 239 + 432 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, November 5, 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 7 48,825 - 257 0 0 19,000 21,001 16 days to 90 days 42 144,738 + 314 10 0 0 0 91 days to 1 year 0 156,936 - 797 0 0 ------ ------ Over 1 to 5 years ------ 179,300 + 936 0 0 ------ ------ Over 5 to 10 years ------ 51,962 + 4 0 0 ------ ------ Over 10 years ------ 77,114 + 4 0 0 ------ ------ All 49 658,875 + 203 10 0 19,000 21,001 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 November 5, 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 829 28 34 44 37 99 102 99 58 24 48 147 109 Securities, repurchase agreements, and loans 677,934 31,854 300,893 20,599 30,874 50,670 44,512 66,591 20,733 14,725 17,724 25,821 52,938 Securities held outright 658,885 31,854 281,892 20,599 30,874 50,670 44,512 66,581 20,729 14,707 17,707 25,821 52,938 U.S. Treasury (1) 658,875 31,854 281,888 20,599 30,873 50,670 44,511 66,580 20,729 14,707 17,707 25,821 52,937 Bills (2) 242,500 11,724 103,749 7,582 11,363 18,649 16,382 24,505 7,629 5,413 6,517 9,503 19,483 Notes and bonds(3) 416,375 20,130 178,139 13,018 19,510 32,021 28,129 42,075 13,100 9,294 11,190 16,318 33,453 Federal agency (2) 10 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements(4) 19,000 0 19,000 0 0 0 0 0 0 0 0 0 0 Loans 49 0 1 0 0 0 0 10 3 18 17 0 0 Items in process of collection 13,655 661 1,713 724 804 809 1,093 1,546 478 617 1,056 600 3,554 Bank premises 1,598 91 190 52 150 144 277 121 43 125 55 174 176 Other assets(5) 39,015 1,805 14,084 1,083 2,427 6,129 2,272 3,642 1,012 1,162 930 1,125 3,346 Interdistrict settlement account 0 + 482 + 5,176 - 1,287 - 3,589 - 935 + 2,060 - 8,679 - 1,716 - 254 - 1,161 + 3,710 + 6,194 Total Assets 746,270 35,532 327,670 21,678 31,283 57,871 51,345 64,513 21,010 16,653 19,021 32,181 67,512 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 November 5, 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 790,112 37,014 326,470 27,593 32,730 59,231 65,218 67,054 23,332 15,712 21,421 37,390 76,949 Less: notes held by F.R. Banks 119,264 5,634 23,408 8,534 5,643 10,192 19,345 10,068 4,469 1,519 4,628 7,861 17,965 Federal Reserve notes, net 670,849 31,380 303,062 19,059 27,087 49,039 45,873 56,986 18,863 14,192 16,793 29,529 58,985 Reverse repurchase agreements (1) 21,001 1,015 8,985 657 984 1,615 1,419 2,122 661 469 564 823 1,687 Deposits 24,960 1,477 9,687 950 1,260 2,278 1,972 2,527 677 450 659 876 2,149 Depository institutions 19,567 1,475 4,471 949 1,257 2,124 1,969 2,523 673 449 657 875 2,145 U.S. Treasury, general account 4,615 0 4,615 0 0 0 0 0 0 0 0 0 0 Foreign official 458 2 435 1 3 7 2 3 1 1 1 1 3 Other 320 1 166 0 0 146 1 0 3 0 1 1 0 Deferred availability cash items 9,619 637 1,128 402 420 595 941 812 245 764 522 466 2,685 Other liabilities and accrued dividends (2) 2,277 126 703 94 125 248 182 233 103 84 85 115 178 Total liabilities 728,706 34,636 323,565 21,161 29,877 53,776 50,386 62,680 20,548 15,960 18,624 31,810 65,683 Capital Capital paid in 8,754 448 2,002 259 705 2,066 479 918 231 348 196 184 918 Surplus 8,335 436 1,809 233 702 2,029 475 858 199 340 201 186 868 Other capital 475 12 294 25 0 0 5 58 31 6 0 1 43 Total liabilities and capital 746,270 35,532 327,670 21,678 31,283 57,871 51,345 64,513 21,010 16,653 19,021 32,181 67,512 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 Nov 5, 2003 Federal Reserve notes outstanding 790,112 Less: Notes held by F.R. Banks not subject to collateralization 119,264 Federal Reserve Notes to be collateralized 670,849 Collateral held against Federal Reserve notes 670,849 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 656,854 Other assets pledged 756 Memo: Total U.S. Treasury and agency securities (1) 677,885 Less:face value of securities under reverse repurchase agreements 21,031 U.S. Treasury and agency securities eligible to be pledged 656,854 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.