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Release Date: March 25, 2004
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FEDERAL RESERVE Statistical Release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
March 25, 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 Mar 24, 2004 Mar 17, 2004 Mar 26, 2003 Mar 24, 2004
Federal Reserve Banks
Reserve Bank Credit 731,279 - 5,713 + 32,298 732,458
Securities held outright 673,518 + 432 + 33,389 673,995
U.S. Treasury (1) 673,518 + 432 + 33,399 673,995
Bills (2) 246,469 + 61 + 14,577 246,469
Notes and bonds, nominal (2) 410,917 + 354 + 16,296 411,388
Notes and bonds, inflation-indexed (2) 14,464 0 + 2,140 14,464
Inflation compensation (3) 1,668 + 18 + 386 1,674
Federal agency (2) 0 0 - 10 0
Repurchase agreements(4) 18,786 - 6,393 - 500 19,750
Loans to depository institutions 62 - 13 + 52 48
Primary credit 26 - 22 + 24 6
Secondary credit 0 0 0 0
Seasonal credit 36 + 9 + 28 42
Float -776 - 88 - 2,185 -1,179
Other Federal Reserve assets 39,690 + 349 + 1,543 39,844
Gold stock 11,045 0 + 2 11,045
Special drawing rights certificate account 2,200 0 0 2,200
Treasury currency outstanding (5) 35,643 + 14 + 867 35,643
Total factors supplying reserve funds 780,167 - 5,700 + 33,167 781,347
Currency in circulation(5) 714,061 + 193 + 29,542 714,914
Reverse repurchase agreements (6) 19,239 + 144 + 919 19,987
Foreign official and international accounts 19,239 + 144 + 919 19,987
Dealers 0 0 0 0
Treasury cash holdings 339 + 16 - 55 347
Deposits with F.R.Banks, other than reserve balances 16,258 - 1,041 - 1,525 15,282
U.S. Treasury, general account 5,371 - 366 - 545 4,404
Foreign official 80 - 6 - 160 80
Service-related 10,551 - 578 - 861 10,551
Required clearing balances 10,409 - 477 - 568 10,409
Adjustments to compensate for float 142 - 101 - 293 142
Other 256 - 91 + 41 247
Other liabilities and capital 20,964 + 428 + 1,552 20,707
Total factors, other than reserve balances,
absorbing reserve funds 770,861 - 260 + 30,433 771,236
Reserve balances with Federal Reserve Banks 9,306 - 5,440 + 2,735 10,111
Memo (off-balance-sheet items):
Marketable securities held in custody for foreign
official and international accounts(2,7) 1,176,184 + 7,914 + 281,076 1,170,893
U.S. Treasury 936,651 + 3,517 + 221,081 932,809
Federal agency 239,533 + 4,397 + 59,995 238,084
Securities lent to dealers 1,741 - 998 - 1,017 1,667
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 Mar 24, 2004 Mar 17, 2004 Mar 26, 2003
Assets
Gold certificate account 11,041 0 + 2
Special drawing rights certificate account 2,200 0 0
Coin 834 - 12 - 247
Securities, repurchase agreements, and loans 693,793 - 8,457 + 27,385
Securities held outright 673,995 + 842 + 33,094
U.S. Treasury (1) 673,995 + 842 + 33,104
Bills (2) 246,469 0 + 14,326
Notes and bonds, nominal (2) 411,388 + 825 + 16,767
Notes and bonds, inflation-indexed (2) 14,464 0 + 1,650
Inflation compensation (3) 1,674 + 17 + 362
Federal agency (2) 0 0 - 10
Repurchase agreements (4) 19,750 - 9,000 - 5,750
Loans 48 - 299 + 41
Items in process of collection (961) 4,627 - 1,288 - 1,938
Bank premises 1,655 + 2 + 97
Other assets (5) 38,243 + 619 + 1,122
Total assets (961) 752,393 - 9,136 + 26,422
Liabilities
Federal Reserve notes net of FR Bank holdings 680,447 - 563 + 27,517
Reverse repurchase agreements (6) 19,987 + 1,217 + 1,756
Deposits (0) 25,447 - 9,042 - 2,632
Depository institutions 20,716 - 6,919 - 1,099
U.S. Treasury, general account 4,404 - 2,011 - 1,523
Foreign official 80 - 32 - 82
Other (0) 247 - 79 + 72
Deferred availability cash items (961) 5,805 - 878 - 1,325
Other liabilities and accrued dividends (7) 2,265 + 39 + 17
Total liabilities (961) 733,951 - 9,228 + 25,333
Capital Accounts
Capital paid in 8,964 - 33 + 471
Surplus 8,847 + 55 + 467
Other capital accounts 631 + 71 + 151
Total capital 18,441 + 91 + 1,089
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, March 24, 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 42 50,976 + 595 0 0 19,750 19,987
16 days to 90 days 6 150,619 - 793 0 0 0 0
91 days to 1 year 0 161,315 + 197 0 0 ------ ------
Over 1 to 5 years ------ 183,661 + 582 0 0 ------ ------
Over 5 to 10 years ------ 49,998 + 254 0 0 ------ ------
Over 10 years ------ 77,426 + 7 0 0 ------ ------
All 48 673,995 + 842 0 0 19,750 19,987
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 March 24, 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 11,041 495 4,708 380 477 808 863 982 331 224 303 507 963
Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234
Coin 834 39 39 49 43 85 78 107 60 30 49 145 111
Securities, repurchase agreements,
and loans 693,793 32,592 308,107 21,076 31,582 51,832 45,534 68,123 21,214 15,053 18,115 26,414 54,152
Securities held outright 673,995 32,585 288,357 21,072 31,582 51,832 45,532 68,107 21,205 15,045 18,113 26,414 54,152
U.S. Treasury (1) 673,995 32,585 288,357 21,072 31,582 51,832 45,532 68,107 21,205 15,045 18,113 26,414 54,152
Bills (2) 246,469 11,916 105,447 7,706 11,549 18,954 16,650 24,906 7,754 5,502 6,624 9,659 19,802
Notes and bonds(3) 427,527 20,669 182,910 13,366 20,033 32,878 28,882 43,202 13,451 9,543 11,490 16,755 34,349
Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Repurchase agreements(4) 19,750 0 19,750 0 0 0 0 0 0 0 0 0 0
Loans 48 7 0 4 0 0 1 15 9 8 2 0 0
Items in process of collection 5,588 314 536 267 295 285 432 417 216 357 417 281 1,773
Bank premises 1,655 96 189 52 151 144 278 127 49 125 74 189 180
Other assets(5) 38,243 1,754 13,681 1,177 2,396 5,985 2,183 3,614 1,020 1,135 801 883 3,615
Interdistrict settlement account 0 + 2,321 -13,329 + 1,410 - 4,035 - 42 + 2,086 - 9,192 - 1,102 - 647 + 376 + 8,508 +13,646
Total Assets 753,354 37,724 314,804 24,493 31,013 59,245 51,620 64,391 21,859 16,306 20,201 37,025 74,674
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 March 24, 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 803,674 38,988 323,134 29,581 32,542 60,162 64,470 66,429 23,573 15,771 22,353 41,742 84,928
Less: notes held by F.R. Banks 123,226 5,058 32,444 8,320 5,306 11,035 17,538 8,674 3,682 1,495 4,282 7,045 18,349
Federal Reserve notes, net 680,447 33,930 290,690 21,261 27,237 49,128 46,933 57,755 19,890 14,277 18,071 34,697 66,578
Reverse repurchase agreements (1) 19,987 966 8,551 625 937 1,537 1,350 2,020 629 446 537 783 1,606
Deposits 25,447 1,270 9,749 1,403 838 3,756 1,381 1,993 570 432 790 838 2,427
Depository institutions 20,716 1,264 5,123 1,402 834 3,681 1,379 1,989 565 431 789 837 2,423
U.S. Treasury, general account 4,404 0 4,404 0 0 0 0 0 0 0 0 0 0
Foreign official 80 2 57 1 2 7 2 3 1 1 1 0 4
Other 247 5 165 0 1 68 0 0 4 0 1 1 0
Deferred availability cash items 6,766 505 672 549 383 428 769 510 196 449 391 343 1,571
Other liabilities and accrued
dividends (2) 2,265 131 715 93 120 246 183 222 104 77 86 112 176
Total liabilities 734,913 36,803 310,377 23,930 29,515 55,095 50,615 62,500 21,389 15,681 19,876 36,773 72,358
Capital
Capital paid in 8,964 449 2,105 273 739 2,056 484 908 231 265 151 119 1,183
Surplus 8,847 448 2,031 259 727 2,074 489 924 228 346 162 111 1,048
Other capital 631 24 291 31 32 19 32 58 11 15 12 22 84
Total liabilities and capital 753,354 37,724 314,804 24,493 31,013 59,245 51,620 64,391 21,859 16,306 20,201 37,025 74,674
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
Mar 24, 2004
Federal Reserve notes outstanding 803,674
Less: Notes held by F.R. Banks
not subject to collateralization 123,226
Federal Reserve Notes to be
collateralized 680,447
Collateral held against Federal Reserve
notes 680,447
Gold certificate account 11,041
Special drawing rights
certificate account 2,200
U.S. Treasury and agency securities
pledged (1) 667,207
Other assets pledged 0
Memo:
Total U.S. Treasury and agency
securities (1) 693,745
Less:face value of securities under
reverse repurchase agreements 19,992
U.S. Treasury and agency securities
eligible to be pledged 673,753
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.
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