FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks August 5, 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 Aug 4, 2004 Jul 28, 2004 Aug 6, 2003 Aug 4, 2004 Federal Reserve Banks Reserve Bank Credit 757,633 + 5,403 + 41,657 752,669 Securities held outright 693,728 + 218 + 40,732 693,734 U.S. Treasury (1) 693,728 + 218 + 40,742 693,734 Bills (2) 255,248 0 + 15,393 255,248 Notes and bonds, nominal (2) 421,546 + 200 + 22,693 421,546 Notes and bonds, inflation-indexed (2) 14,862 0 + 2,048 14,862 Inflation compensation (3) 2,072 + 19 + 608 2,078 Federal agency (2) 0 0 - 10 0 Repurchase agreements(4) 22,929 + 4,322 + 429 17,000 Loans to depository institutions 265 + 2 + 111 321 Primary credit 31 - 6 + 10 95 Secondary credit 0 0 0 0 Seasonal credit 234 + 8 + 101 225 Float 237 + 750 - 233 1,112 Other Federal Reserve assets 40,475 + 112 + 619 40,502 Gold stock 11,044 - 1 + 1 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,050 + 14 + 905 36,050 Total factors supplying reserve funds 806,927 + 5,417 + 42,563 801,963 Currency in circulation(5) 733,915 + 921 + 39,611 735,910 Reverse repurchase agreements (6) 20,588 + 629 + 1,642 20,576 Foreign official and international accounts 20,588 + 629 + 1,642 20,576 Dealers 0 0 0 0 Treasury cash holdings 283 - 6 - 82 287 Deposits with F.R.Banks, other than reserve balances 14,909 - 227 - 2,489 15,282 U.S. Treasury, general account 4,701 - 255 - 938 5,081 Foreign official 98 + 21 - 79 83 Service-related 9,801 - 1 - 1,486 9,801 Required clearing balances 9,801 - 1 - 1,096 9,801 Adjustments to compensate for float 0 0 - 390 0 Other 309 + 9 + 15 317 Other liabilities and capital 21,345 + 19 + 1,495 21,359 Total factors, other than reserve balances, absorbing reserve funds 791,040 + 1,335 + 40,177 793,413 Reserve balances with Federal Reserve Banks 15,887 + 4,082 + 2,386 8,550 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,247,923 + 8,497 + 311,345 1,255,000 U.S. Treasury 1,013,332 + 8,261 + 260,732 1,017,542 Federal agency 234,590 + 234 + 50,612 237,458 Securities lent to dealers 380 - 683 - 2,385 312 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 Aug 4, 2004 Jul 28, 2004 Aug 6, 2003 Assets Gold certificate account 11,040 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 740 + 5 - 130 Securities, repurchase agreements, and loans 711,055 - 4,594 + 39,628 Securities held outright 693,734 + 17 + 40,700 U.S. Treasury (1) 693,734 + 17 + 40,710 Bills (2) 255,248 0 + 15,356 Notes and bonds, nominal (2) 421,546 0 + 22,693 Notes and bonds, inflation-indexed (2) 14,862 0 + 2,048 Inflation compensation (3) 2,078 + 17 + 613 Federal agency (2) 0 0 - 10 Repurchase agreements (4) 17,000 - 4,500 - 1,250 Loans 321 - 111 + 178 Items in process of collection (722) 7,611 + 2,628 - 1,726 Bank premises 1,709 + 2 + 123 Other assets (5) 38,864 + 153 + 433 Total assets (722) 773,219 - 1,807 + 38,328 Liabilities Federal Reserve notes net of FR Bank holdings 700,882 + 1,570 + 38,656 Reverse repurchase agreements (6) 20,576 + 1,213 + 1,514 Deposits (0) 23,903 - 5,566 - 1,285 Depository institutions 18,422 - 6,233 + 82 U.S. Treasury, general account 5,081 + 634 - 1,319 Foreign official 83 + 2 - 58 Other (0) 317 + 31 + 10 Deferred availability cash items (722) 6,499 + 735 - 2,044 Other liabilities and accrued dividends (7) 2,446 - 19 + 321 Total liabilities (722) 754,306 - 2,068 + 37,162 Capital Accounts Capital paid in 9,253 + 7 + 532 Surplus 8,829 + 50 + 449 Other capital accounts 830 + 203 + 184 Total capital 18,913 + 261 + 1,166 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, August 4, 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 102 56,302 + 347 0 0 17,000 20,576 16 days to 90 days 219 150,366 - 2,644 0 0 0 0 91 days to 1 year 0 165,961 + 810 0 0 ------ ------ Over 1 to 5 years ------ 192,427 + 1,493 0 0 ------ ------ Over 5 to 10 years ------ 51,869 + 4 0 0 ------ ------ Over 10 years ------ 76,808 + 6 0 0 ------ ------ All 321 693,734 + 17 0 0 17,000 20,576 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 4, 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 11,040 494 4,650 382 452 819 894 924 325 218 302 525 1,055 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 740 20 34 37 42 67 95 91 52 20 46 134 104 Securities, repurchase agreements, and loans 711,055 32,576 317,902 20,641 29,643 52,727 46,793 62,560 20,415 15,206 18,261 31,633 62,698 Securities held outright 693,734 32,576 300,812 20,633 29,643 52,727 46,784 62,490 20,381 15,131 18,230 31,631 62,695 U.S. Treasury (1) 693,734 32,576 300,812 20,633 29,643 52,727 46,784 62,490 20,381 15,131 18,230 31,631 62,695 Bills (2) 255,248 11,986 110,679 7,592 10,907 19,400 17,213 22,992 7,499 5,567 6,707 11,638 23,067 Notes and bonds(3) 438,486 20,590 190,133 13,042 18,737 33,327 29,570 39,498 12,882 9,564 11,523 19,993 39,627 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 17,000 0 17,000 0 0 0 0 0 0 0 0 0 0 Loans 321 0 90 8 0 0 9 70 34 75 30 3 3 Items in process of collection 8,333 478 380 400 489 319 1,056 967 396 582 605 258 2,402 Bank premises 1,709 96 192 51 154 145 279 138 56 124 76 220 180 Other assets(5) 38,864 1,762 14,127 1,130 2,360 5,964 2,233 3,502 1,018 1,137 812 1,026 3,795 Interdistrict settlement account 0 + 2,623 -29,446 + 3,843 + 818 - 664 + 8,973 - 1,685 + 1,176 - 578 + 1,342 + 4,012 + 9,586 Total Assets 773,940 38,163 308,711 26,567 34,062 59,523 60,489 66,709 23,508 16,738 21,509 37,906 80,054 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 4, 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 821,802 38,564 316,302 32,536 34,942 61,609 72,254 67,869 24,956 15,852 23,980 43,063 89,876 Less: notes held by F.R. Banks 120,920 4,336 31,136 8,698 5,663 11,231 17,341 7,976 3,383 1,117 4,614 7,542 17,883 Federal Reserve notes, net 700,882 34,228 285,166 23,838 29,279 50,378 54,912 59,893 21,574 14,735 19,366 35,521 71,993 Reverse repurchase agreements (1) 20,576 966 8,922 612 879 1,564 1,388 1,853 604 449 541 938 1,859 Deposits 23,903 1,245 8,744 880 1,782 2,668 2,113 2,188 607 381 682 736 1,877 Depository institutions 18,422 1,242 3,431 879 1,779 2,522 2,111 2,184 604 380 681 735 1,873 U.S. Treasury, general account 5,081 0 5,081 0 0 0 0 0 0 0 0 0 0 Foreign official 83 2 60 1 2 7 2 3 1 1 1 0 4 Other 317 1 173 0 0 139 0 1 2 0 1 0 0 Deferred availability cash items 7,220 561 666 571 468 531 842 461 146 478 503 301 1,691 Other liabilities and accrued dividends (2) 2,446 133 798 96 124 254 197 231 107 82 92 135 196 Total liabilities 755,028 37,133 304,295 25,997 32,532 55,395 59,452 64,627 23,038 16,126 21,185 37,631 77,616 Capital Capital paid in 9,253 506 2,116 283 759 2,077 506 1,024 232 262 153 131 1,203 Surplus 8,829 448 2,031 259 727 2,052 489 924 228 350 162 111 1,048 Other capital 830 75 269 28 44 0 41 135 10 0 9 33 186 Total liabilities and capital 773,940 38,163 308,711 26,567 34,062 59,523 60,489 66,709 23,508 16,738 21,509 37,906 80,054 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 4, 2004 Federal Reserve notes outstanding 821,802 Less: Notes held by F.R. Banks not subject to collateralization 120,920 Federal Reserve Notes to be collateralized 700,882 Collateral held against Federal Reserve notes 700,882 Gold certificate account 11,040 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 687,643 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 710,734 Less:face value of securities under reverse repurchase agreements 20,582 U.S. Treasury and agency securities eligible to be pledged 690,152 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.