FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks November 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 Nov 10, 2004 Nov 3, 2004 Nov 12, 2003 Nov 10, 2004 Federal Reserve Banks Reserve Bank Credit 774,767 + 1,416 + 52,527 781,192 Securities held outright 708,823 + 1,800 + 48,610 708,909 U.S. Treasury (1) 708,823 + 1,800 + 48,620 708,909 Bills (2) 259,638 + 318 + 16,918 259,720 Notes and bonds, nominal (2) 431,328 + 1,031 + 28,906 431,328 Notes and bonds, inflation-indexed (2) 15,683 + 421 + 2,229 15,683 Inflation compensation (3) 2,174 + 30 + 568 2,178 Federal agency (2) 0 0 - 10 0 Repurchase agreements(4) 23,643 - 643 + 3,179 29,500 Loans to depository institutions 85 - 30 + 33 77 Primary credit 6 - 2 + 3 1 Secondary credit 0 0 0 0 Seasonal credit 79 - 28 + 31 77 Float 67 - 261 - 393 487 Other Federal Reserve assets 42,149 + 550 + 1,098 42,219 Gold stock 11,043 0 0 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,349 + 14 + 1,005 36,349 Total factors supplying reserve funds 824,359 + 1,430 + 53,532 830,784 Currency in circulation(5) 745,452 + 2,926 + 39,121 749,504 Reverse repurchase agreements (6) 27,110 + 266 + 9,556 27,467 Foreign official and international accounts 27,110 + 266 + 9,556 27,467 Dealers 0 0 0 0 Treasury cash holdings 303 + 3 - 72 300 Deposits with F.R.Banks, other than reserve balances 15,999 - 263 - 853 15,522 U.S. Treasury, general account 5,012 - 263 + 136 4,565 Foreign official 122 + 37 + 31 82 Service-related 10,572 + 1 - 1,003 10,572 Required clearing balances 10,572 + 1 - 849 10,572 Adjustments to compensate for float 0 0 - 154 0 Other 293 - 38 - 16 304 Other liabilities and capital 24,079 + 200 + 3,836 23,771 Total factors, other than reserve balances, absorbing reserve funds 812,943 + 3,132 + 51,588 816,563 Reserve balances with Federal Reserve Banks 11,415 - 1,703 + 1,943 14,221 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,305,946 + 5,147 + 303,693 1,308,021 U.S. Treasury 1,058,699 + 6,094 + 259,245 1,060,859 Federal agency 247,247 - 946 + 44,448 247,162 Securities lent to dealers 1,699 + 1,258 + 197 2,770 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 Nov 10, 2004 Nov 3, 2004 Nov 12, 2003 Assets Gold certificate account 11,039 0 0 Special drawing rights certificate account 2,200 0 0 Coin 772 - 7 - 47 Securities, repurchase agreements, and loans 738,487 + 10,025 + 54,147 Securities held outright 708,909 + 779 + 48,620 U.S. Treasury (1) 708,909 + 779 + 48,630 Bills (2) 259,720 + 327 + 16,928 Notes and bonds, nominal (2) 431,328 0 + 28,906 Notes and bonds, inflation-indexed (2) 15,683 + 421 + 2,229 Inflation compensation (3) 2,178 + 31 + 568 Federal agency (2) 0 0 - 10 Repurchase agreements (4) 29,500 + 9,250 + 5,500 Loans 77 - 5 + 26 Items in process of collection (836) 7,071 - 643 + 284 Bank premises 1,745 + 4 + 145 Other assets (5) 40,517 + 548 + 801 Total assets (836) 801,832 + 9,929 + 55,331 Liabilities Federal Reserve notes net of FR Bank holdings 714,224 + 4,612 + 39,855 Reverse repurchase agreements (6) 27,467 + 955 + 10,081 Deposits (0) 29,792 + 4,683 + 2,068 Depository institutions 24,842 + 5,158 + 2,192 U.S. Treasury, general account 4,565 - 406 - 49 Foreign official 82 0 - 65 Other (0) 304 - 68 - 10 Deferred availability cash items (836) 6,579 - 466 + 3 Other liabilities and accrued dividends (7) 2,887 - 62 + 573 Total liabilities (836) 780,948 + 9,721 + 52,579 Capital Accounts Capital paid in 10,617 + 73 + 1,833 Surplus 8,847 0 + 467 Other capital accounts 1,419 + 134 + 451 Total capital 20,883 + 207 + 2,751 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 10, 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 14 41,934 - 14,265 0 0 29,500 27,467 16 days to 90 days 63 167,164 + 15,083 0 0 0 0 91 days to 1 year 0 168,865 + 584 0 0 ------ ------ Over 1 to 5 years ------ 203,793 + 4 0 0 ------ ------ Over 5 to 10 years ------ 50,330 - 730 0 0 ------ ------ Over 10 years ------ 76,822 + 102 0 0 ------ ------ All 77 708,909 + 779 0 0 29,500 27,467 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 10, 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 11,039 494 4,649 382 452 819 894 924 325 218 302 525 1,055 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 772 22 43 58 54 68 78 110 41 23 51 117 107 Securities, repurchase agreements, and loans 738,487 33,289 336,892 21,090 30,292 53,880 47,814 63,874 20,829 15,490 18,645 32,325 64,067 Securities held outright 708,909 33,289 307,392 21,085 30,292 53,880 47,807 63,857 20,827 15,462 18,629 32,323 64,066 U.S. Treasury (1) 708,909 33,289 307,392 21,085 30,292 53,880 47,807 63,857 20,827 15,462 18,629 32,323 64,066 Bills (2) 259,720 12,196 112,618 7,725 11,098 19,740 17,515 23,395 7,630 5,665 6,825 11,842 23,472 Notes and bonds(3) 449,190 21,093 194,775 13,360 19,194 34,140 30,292 40,462 13,197 9,797 11,804 20,481 40,595 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 29,500 0 29,500 0 0 0 0 0 0 0 0 0 0 Loans 77 0 0 5 0 0 7 17 2 28 16 2 1 Items in process of collection 7,907 369 413 610 656 343 825 631 470 488 662 261 2,180 Bank premises 1,745 98 191 52 154 144 278 147 62 123 79 238 179 Other assets(5) 40,517 1,845 14,626 1,134 2,485 6,282 2,333 3,671 1,067 1,196 843 1,053 3,982 Interdistrict settlement account 0 + 3,836 -33,512 + 5,759 - 100 + 2,396 + 9,997 + 710 + 1,485 - 802 + 1,489 + 2,169 + 6,572 Total Assets 802,668 40,067 324,177 29,167 34,097 64,080 62,383 70,280 24,350 16,766 22,137 36,786 78,376 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 10, 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 839,330 37,735 326,702 32,933 34,750 65,586 73,032 72,191 25,276 16,299 24,447 41,755 88,624 Less: notes held by F.R. Banks 125,106 4,261 31,649 8,341 5,589 12,163 17,162 9,060 2,980 1,809 4,682 7,664 19,745 Federal Reserve notes, net 714,224 33,474 295,052 24,592 29,161 53,422 55,871 63,130 22,296 14,490 19,765 34,091 68,879 Reverse repurchase agreements (1) 27,467 1,290 11,910 817 1,174 2,088 1,852 2,474 807 599 722 1,252 2,482 Deposits 29,792 2,238 10,914 2,415 1,583 3,578 2,419 1,841 504 404 796 700 2,401 Depository institutions 24,842 2,233 6,098 2,414 1,579 3,471 2,417 1,837 499 403 794 700 2,397 U.S. Treasury, general account 4,565 0 4,565 0 0 0 0 0 0 0 0 0 0 Foreign official 82 2 58 1 2 7 2 3 1 1 1 0 4 Other 304 3 192 0 2 100 0 1 4 0 1 0 0 Deferred availability cash items 7,414 526 790 633 408 433 928 461 129 557 429 308 1,814 Other liabilities and accrued dividends (2) 2,887 177 942 109 148 314 227 272 118 95 101 148 236 Total liabilities 781,784 37,705 319,608 28,565 32,473 59,835 61,297 68,177 23,854 16,146 21,813 36,499 75,812 Capital Capital paid in 10,617 1,634 2,165 293 836 2,098 526 1,028 241 263 149 132 1,255 Surplus 8,847 448 2,031 259 727 2,074 489 924 228 346 162 111 1,048 Other capital 1,419 280 374 51 61 73 71 151 27 12 13 45 261 Total liabilities and capital 802,668 40,067 324,177 29,167 34,097 64,080 62,383 70,280 24,350 16,766 22,137 36,786 78,376 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 10, 2004 Federal Reserve notes outstanding 839,330 Less: Notes held by F.R. Banks not subject to collateralization 125,106 Federal Reserve Notes to be collateralized 714,224 Collateral held against Federal Reserve notes 714,224 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 700,985 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 738,409 Less:face value of securities under reverse repurchase agreements 27,557 U.S. Treasury and agency securities eligible to be pledged 710,852 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.