FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks April 29, 2004 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 Apr 28, 2004 Apr 21, 2004 Apr 30, 2003 Apr 28, 2004 Federal Reserve Banks Reserve Bank Credit 744,758 + 5,728 + 28,884 753,639 Securities held outright 675,539 + 753 + 28,482 676,383 U.S. Treasury (1) 675,539 + 753 + 28,492 676,383 Bills (2) 247,921 + 733 + 11,886 248,757 Notes and bonds, nominal (2) 411,388 0 + 14,612 411,388 Notes and bonds, inflation-indexed (2) 14,464 0 + 1,650 14,464 Inflation compensation (3) 1,766 + 20 + 344 1,774 Federal agency (2) 0 0 - 10 0 Repurchase agreements(4) 29,429 + 4,900 + 678 37,500 Loans to depository institutions 87 - 8 + 57 81 Primary credit 16 - 18 + 16 5 Secondary credit 0 0 0 0 Seasonal credit 71 + 10 + 42 77 Float -753 - 65 - 978 -880 Other Federal Reserve assets 40,455 + 147 + 644 40,555 Gold stock 11,045 0 + 2 11,045 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 35,713 + 14 + 823 35,713 Total factors supplying reserve funds 793,716 + 5,742 + 29,709 802,598 Currency in circulation(5) 716,218 - 596 + 28,974 718,575 Reverse repurchase agreements (6) 20,404 + 984 - 545 19,689 Foreign official and international accounts 20,404 + 984 - 545 19,689 Dealers 0 0 0 0 Treasury cash holdings 327 - 11 - 23 321 Deposits with F.R.Banks, other than reserve balances 17,829 + 819 - 2,300 16,903 U.S. Treasury, general account 7,444 + 814 - 1,319 6,540 Foreign official 103 + 7 - 29 100 Service-related 9,970 0 - 1,038 9,970 Required clearing balances 9,970 0 - 859 9,970 Adjustments to compensate for float 0 0 - 179 0 Other 312 - 1 + 87 293 Other liabilities and capital 20,720 + 158 + 555 20,659 Total factors, other than reserve balances, absorbing reserve funds 775,498 + 1,354 + 26,661 776,147 Reserve balances with Federal Reserve Banks 18,218 + 4,388 + 3,048 26,451 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,184,273 - 1,862 + 297,251 1,181,534 U.S. Treasury 956,996 + 953 + 247,146 956,819 Federal agency 227,277 - 2,816 + 50,106 224,715 Securities lent to dealers 2,783 + 112 + 2,273 3,776 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 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 Apr 28, 2004 Apr 21, 2004 Apr 30, 2003 Assets Gold certificate account 11,041 0 + 2 Special drawing rights certificate account 2,200 0 0 Coin 816 - 15 - 205 Securities, repurchase agreements, and loans 713,965 + 16,195 + 29,148 Securities held outright 676,383 + 1,446 + 29,102 U.S. Treasury (1) 676,383 + 1,446 + 29,112 Bills (2) 248,757 + 1,425 + 12,508 Notes and bonds, nominal (2) 411,388 0 + 14,612 Notes and bonds, inflation-indexed (2) 14,464 0 + 1,650 Inflation compensation (3) 1,774 + 21 + 343 Federal agency (2) 0 0 - 10 Repurchase agreements (4) 37,500 + 14,750 - 1 Loans 81 - 2 + 46 Items in process of collection (1,131) 5,307 - 1,537 - 2,866 Bank premises 1,664 + 1 + 87 Other assets (5) 38,800 + 300 + 388 Total assets (1,131) 773,792 + 14,943 + 26,553 Liabilities Federal Reserve notes net of FR Bank holdings 683,994 + 1,468 + 28,768 Reverse repurchase agreements (6) 19,689 + 429 - 1,125 Deposits (0) 43,274 + 13,538 + 267 Depository institutions 36,341 + 12,953 + 4,461 U.S. Treasury, general account 6,540 + 654 - 4,043 Foreign official 100 - 65 - 213 Other (0) 293 - 4 + 62 Deferred availability cash items (1,131) 6,175 - 690 - 1,967 Other liabilities and accrued dividends (7) 2,294 + 52 + 24 Total liabilities (1,131) 755,426 + 14,797 + 25,966 Capital Accounts Capital paid in 9,030 + 7 + 485 Surplus 8,794 + 26 + 414 Other capital accounts 541 + 112 - 313 Total capital 18,365 + 145 + 586 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, April 28, 2004 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 78 56,704 + 1,025 0 0 37,500 19,689 16 days to 90 days 3 148,668 + 1,234 0 0 0 0 91 days to 1 year 0 159,705 - 833 0 0 ------ ------ Over 1 to 5 years ------ 183,823 + 8 0 0 ------ ------ Over 5 to 10 years ------ 50,022 + 5 0 0 ------ ------ Over 10 years ------ 77,462 + 7 0 0 ------ ------ All 81 676,383 + 1,446 0 0 37,500 19,689 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 April 28, 2004 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 11,041 494 4,651 382 452 819 894 924 325 218 302 525 1,055 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 816 41 34 52 39 79 72 110 57 30 51 145 106 Securities, repurchase agreements, and loans 713,965 31,771 330,789 20,117 28,902 51,408 45,614 60,956 19,885 14,773 17,782 30,841 61,128 Securities held outright 676,383 31,761 293,289 20,117 28,902 51,408 45,614 60,928 19,871 14,753 17,774 30,840 61,127 U.S. Treasury (1) 676,383 31,761 293,289 20,117 28,902 51,408 45,614 60,928 19,871 14,753 17,774 30,840 61,127 Bills (2) 248,757 11,681 107,865 7,399 10,629 18,907 16,776 22,408 7,308 5,426 6,537 11,342 22,481 Notes and bonds(3) 427,626 20,080 185,424 12,719 18,273 32,501 28,838 38,520 12,563 9,327 11,237 19,498 38,646 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 37,500 0 37,500 0 0 0 0 0 0 0 0 0 0 Loans 81 10 0 0 0 0 0 29 14 20 7 1 1 Items in process of collection 6,437 344 504 388 358 453 572 404 321 351 419 324 1,998 Bank premises 1,664 96 191 52 153 145 279 129 49 124 74 193 180 Other assets(5) 38,800 1,761 14,118 1,133 2,342 5,942 2,228 3,492 1,020 1,131 810 1,025 3,797 Interdistrict settlement account 0 + 2,970 -25,672 + 1,831 + 516 + 1,011 + 2,051 + 1,720 + 447 - 336 + 894 + 3,907 +10,661 Total Assets 774,923 37,592 325,489 24,039 32,866 60,004 51,876 67,947 22,175 16,321 20,398 37,058 79,159 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 April 28, 2004 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 806,932 38,465 322,084 29,669 32,167 59,621 64,551 68,064 23,445 15,660 22,339 41,637 89,229 Less: notes held by F.R. Banks 122,938 4,753 31,143 8,491 5,501 11,007 18,922 7,964 3,383 1,411 4,188 7,042 19,134 Federal Reserve notes, net 683,994 33,712 290,941 21,178 26,666 48,614 45,629 60,101 20,062 14,249 18,151 34,595 70,095 Reverse repurchase agreements (1) 19,689 925 8,537 586 841 1,496 1,328 1,774 578 429 517 898 1,779 Deposits 43,274 1,302 20,295 1,109 3,312 5,019 2,893 3,453 723 488 917 817 2,944 Depository institutions 36,341 1,288 13,511 1,108 3,308 4,906 2,891 3,450 721 487 916 816 2,940 U.S. Treasury, general account 6,540 0 6,540 0 0 0 0 0 0 0 0 0 0 Foreign official 100 2 77 1 2 7 2 3 1 1 1 0 4 Other 293 13 168 0 2 106 0 0 1 0 1 1 0 Deferred availability cash items 7,306 546 635 512 457 532 840 537 240 462 405 376 1,764 Other liabilities and accrued dividends (2) 2,294 131 702 92 119 264 188 215 104 81 87 119 193 Total liabilities 756,557 36,616 321,111 23,476 31,396 55,925 50,877 66,080 21,708 15,710 20,078 36,804 76,775 Capital Capital paid in 9,030 499 2,106 277 739 2,058 486 912 232 265 151 120 1,185 Surplus 8,794 448 2,031 259 727 2,021 489 924 228 346 162 111 1,048 Other capital 541 28 241 26 4 0 24 31 7 1 7 23 151 Total liabilities and capital 774,923 37,592 325,489 24,039 32,866 60,004 51,876 67,947 22,175 16,321 20,398 37,058 79,159 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 Apr 28, 2004 Federal Reserve notes outstanding 806,932 Less: Notes held by F.R. Banks not subject to collateralization 122,938 Federal Reserve Notes to be collateralized 683,994 Collateral held against Federal Reserve notes 683,994 Gold certificate account 11,041 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 670,753 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 713,883 Less:face value of securities under reverse repurchase agreements 19,693 U.S. Treasury and agency securities eligible to be pledged 694,190 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.