FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks August 12, 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 11, 2004 Aug 4, 2004 Aug 13, 2003 Aug 11, 2004 Federal Reserve Banks Reserve Bank Credit 754,791 - 2,839 + 42,967 750,586 Securities held outright 693,741 + 13 + 40,669 693,746 U.S. Treasury (1) 693,741 + 13 + 40,679 693,746 Bills (2) 255,248 0 + 15,321 255,248 Notes and bonds, nominal (2) 421,546 0 + 22,693 421,546 Notes and bonds, inflation-indexed (2) 14,862 0 + 2,048 14,862 Inflation compensation (3) 2,085 + 13 + 618 2,090 Federal agency (2) 0 0 - 10 0 Repurchase agreements(4) 20,036 - 2,893 + 2,357 16,000 Loans to depository institutions 239 - 26 + 94 231 Primary credit 16 - 15 + 9 4 Secondary credit 0 0 0 0 Seasonal credit 223 - 11 + 85 227 Float -297 - 530 - 892 -569 Other Federal Reserve assets 41,071 + 596 + 737 41,179 Gold stock 11,044 0 + 1 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,064 + 14 + 896 36,064 Total factors supplying reserve funds 804,098 - 2,825 + 43,863 799,894 Currency in circulation(5) 734,968 + 1,053 + 39,979 736,223 Reverse repurchase agreements (6) 20,422 - 166 + 859 20,606 Foreign official and international accounts 20,422 - 166 + 859 20,606 Dealers 0 0 0 0 Treasury cash holdings 289 + 6 - 80 304 Deposits with F.R.Banks, other than reserve balances 15,982 + 1,073 - 1,223 15,503 U.S. Treasury, general account 5,064 + 363 - 547 4,617 Foreign official 81 - 17 - 68 82 Service-related 10,539 + 738 - 618 10,539 Required clearing balances 10,529 + 728 - 383 10,529 Adjustments to compensate for float 10 + 10 - 235 10 Other 298 - 11 + 11 265 Other liabilities and capital 21,850 + 505 + 1,660 21,669 Total factors, other than reserve balances, absorbing reserve funds 793,510 + 2,470 + 41,194 794,305 Reserve balances with Federal Reserve Banks 10,588 - 5,295 + 2,669 5,589 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,256,264 + 8,341 + 316,480 1,256,074 U.S. Treasury 1,017,939 + 4,607 + 264,402 1,017,359 Federal agency 238,325 + 3,735 + 52,079 238,715 Securities lent to dealers 748 + 368 - 1,383 2,203 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 11, 2004 Aug 4, 2004 Aug 13, 2003 Assets Gold certificate account 11,040 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 750 + 10 - 138 Securities, repurchase agreements, and loans 709,977 - 1,078 + 37,526 Securities held outright 693,746 + 12 + 40,458 U.S. Treasury (1) 693,746 + 12 + 40,468 Bills (2) 255,248 0 + 15,106 Notes and bonds, nominal (2) 421,546 0 + 22,693 Notes and bonds, inflation-indexed (2) 14,862 0 + 2,048 Inflation compensation (3) 2,090 + 12 + 621 Federal agency (2) 0 0 - 10 Repurchase agreements (4) 16,000 - 1,000 - 3,000 Loans 231 - 90 + 67 Items in process of collection (717) 5,317 - 2,294 - 3,967 Bank premises 1,710 + 1 + 123 Other assets (5) 39,425 + 561 + 620 Total assets (717) 770,418 - 2,801 + 34,163 Liabilities Federal Reserve notes net of FR Bank holdings 701,208 + 326 + 39,194 Reverse repurchase agreements (6) 20,606 + 30 + 1,468 Deposits (0) 21,048 - 2,855 - 6,167 Depository institutions 16,084 - 2,338 - 4,606 U.S. Treasury, general account 4,617 - 464 - 1,103 Foreign official 82 - 1 - 443 Other (0) 265 - 52 - 16 Deferred availability cash items (717) 5,886 - 613 - 1,958 Other liabilities and accrued dividends (7) 2,512 + 66 + 353 Total liabilities (717) 751,261 - 3,045 + 32,891 Capital Accounts Capital paid in 9,260 + 7 + 536 Surplus 8,856 + 27 + 476 Other capital accounts 1,040 + 210 + 260 Total capital 19,157 + 244 + 1,273 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 11, 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 26 56,565 + 263 0 0 16,000 20,606 16 days to 90 days 205 149,322 - 1,044 0 0 0 0 91 days to 1 year 0 166,742 + 781 0 0 ------ ------ Over 1 to 5 years ------ 192,432 + 5 0 0 ------ ------ Over 5 to 10 years ------ 51,872 + 3 0 0 ------ ------ Over 10 years ------ 76,813 + 5 0 0 ------ ------ All 231 693,746 + 12 0 0 16,000 20,606 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 11, 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 750 20 40 35 44 67 97 91 51 20 47 131 106 Securities, repurchase agreements, and loans 709,977 32,577 316,817 20,645 29,644 52,729 46,793 62,556 20,404 15,215 18,263 31,635 62,698 Securities held outright 693,746 32,577 300,817 20,634 29,644 52,728 46,784 62,492 20,382 15,131 18,230 31,631 62,696 U.S. Treasury (1) 693,746 32,577 300,817 20,634 29,644 52,728 46,784 62,492 20,382 15,131 18,230 31,631 62,696 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) 438,498 20,591 190,139 13,042 18,737 33,328 29,571 39,499 12,883 9,564 11,523 19,993 39,628 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 16,000 0 16,000 0 0 0 0 0 0 0 0 0 0 Loans 231 0 0 11 0 2 8 65 23 84 33 3 2 Items in process of collection 6,034 338 329 251 419 310 628 391 268 395 485 175 2,046 Bank premises 1,710 96 192 51 154 145 278 139 56 124 75 220 180 Other assets(5) 39,425 1,789 14,318 1,149 2,387 6,032 2,273 3,554 1,033 1,155 825 1,060 3,850 Interdistrict settlement account 0 + 2,908 -29,510 + 4,037 + 139 - 1,089 + 8,633 - 1,494 + 1,447 - 462 + 1,363 + 3,911 +10,117 Total Assets 771,135 38,336 307,711 26,632 33,344 59,160 59,762 66,373 23,655 16,695 21,427 37,754 80,286 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 11, 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 823,350 38,858 316,341 32,777 34,975 62,135 72,254 67,951 25,128 15,923 24,064 43,082 89,864 Less: notes held by F.R. Banks 122,142 4,299 31,922 8,622 5,747 11,274 17,404 7,838 3,383 1,257 4,636 7,691 18,069 Federal Reserve notes, net 701,208 34,559 284,419 24,155 29,228 50,861 54,850 60,112 21,744 14,667 19,428 35,391 71,795 Reverse repurchase agreements (1) 20,606 968 8,935 613 881 1,566 1,390 1,856 605 449 542 940 1,862 Deposits 21,048 1,085 8,450 742 1,068 1,798 1,524 1,665 573 405 686 718 2,333 Depository institutions 16,084 1,082 3,610 741 1,064 1,697 1,523 1,661 570 404 684 718 2,330 U.S. Treasury, general account 4,617 0 4,617 0 0 0 0 0 0 0 0 0 0 Foreign official 82 2 59 1 2 7 2 3 1 1 1 0 4 Other 265 1 163 0 1 94 0 1 2 0 1 0 0 Deferred availability cash items 6,603 548 636 437 490 475 749 401 144 460 348 286 1,630 Other liabilities and accrued dividends (2) 2,512 137 817 100 131 258 200 239 110 87 95 137 202 Total liabilities 751,978 37,295 303,257 26,047 31,797 54,958 58,714 64,273 23,176 16,068 21,100 37,471 77,823 Capital Capital paid in 9,260 506 2,116 284 757 2,084 506 1,024 232 262 153 131 1,203 Surplus 8,856 448 2,031 259 727 2,074 489 924 228 355 162 111 1,048 Other capital 1,040 86 307 43 62 44 53 152 19 10 12 41 212 Total liabilities and capital 771,135 38,336 307,711 26,632 33,344 59,160 59,762 66,373 23,655 16,695 21,427 37,754 80,286 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 11, 2004 Federal Reserve notes outstanding 823,350 Less: Notes held by F.R. Banks not subject to collateralization 122,142 Federal Reserve Notes to be collateralized 701,208 Collateral held against Federal Reserve notes 701,208 Gold certificate account 11,040 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 687,969 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 709,746 Less:face value of securities under reverse repurchase agreements 20,614 U.S. Treasury and agency securities eligible to be pledged 689,132 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.