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Release Date: December 26, 2003
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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
December 26, 2003
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 Dec 24, 2003 Dec 17, 2003 Dec 25, 2002 Dec 24, 2003
Federal Reserve Banks
Reserve Bank Credit 739,526 + 7,672 + 35,949 745,003
Securities held outright 666,034 + 141 + 36,624 666,216
U.S. Treasury (1) 666,034 + 141 + 36,634 666,216
Bills (2) 244,197 + 145 + 17,515 244,381
Notes and bonds, nominal (2) 406,173 0 + 16,954 406,173
Notes and bonds, inflation-indexed (2) 13,994 0 + 1,752 13,994
Inflation compensation (3) 1,670 - 4 + 414 1,668
Federal agency (2) 0 0 - 10 0
Repurchase agreements(4) 33,179 + 7,608 - 1,142 36,500
Loans to depository institutions 70 + 33 + 11 175
Primary credit 33 + 28 + 33 135
Secondary credit 0 0 0 0
Seasonal credit 37 + 5 - 9 39
Adjustment credit 0 0 - 13 0
Float 434 - 471 - 644 2,061
Other Federal Reserve assets 39,810 + 362 + 1,102 40,051
Gold stock 11,043 0 0 11,043
Special drawing rights certificate account 2,200 0 0 2,200
Treasury currency outstanding (5) 35,461 + 14 + 895 35,461
Total factors supplying reserve funds 788,230 + 7,686 + 36,844 793,707
Currency in circulation(5) 718,646 + 5,110 + 37,123 723,150
Reverse repurchase agreements (6) 19,430 + 1,214 - 1,478 19,764
Foreign official and international accounts 19,430 + 1,464 - 1,478 19,764
Dealers 0 - 250 0 0
Treasury cash holdings 319 - 4 - 42 319
Deposits with F.R.Banks, other than reserve balances 17,197 - 722 + 1,012 17,205
U.S. Treasury, general account 4,701 - 921 + 23 4,670
Foreign official 96 + 7 - 18 128
Service-related 12,154 + 187 + 973 12,154
Required clearing balances 11,846 0 + 1,394 11,846
Adjustments to compensate for float 308 + 186 - 421 308
Other 247 + 6 + 35 253
Other liabilities and capital 20,759 - 74 + 318 20,521
Total factors, other than reserve balances,
absorbing reserve funds 776,352 + 5,525 + 36,935 780,960
Reserve balances with Federal Reserve Banks 11,878 + 2,161 - 91 12,747
Memo (off-balance-sheet items):
Marketable securities held in custody for foreign
official and international accounts(2,7) 1,060,521 + 6,502 + 211,654 1,061,848
U.S. Treasury 847,720 + 6,688 + 161,723 851,119
Federal agency 212,801 - 187 + 49,931 210,729
Securities lent to dealers 2,063 + 432 + 1,759 2,884
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 Dec 24, 2003 Dec 17, 2003 Dec 25, 2002
Assets
Gold certificate account 11,039 0 0
Special drawing rights certificate account 2,200 0 0
Coin 747 - 15 - 264
Securities, repurchase agreements, and loans 702,891 + 11,887 + 36,170
Securities held outright 666,216 + 263 + 36,804
U.S. Treasury (1) 666,216 + 263 + 36,814
Bills (2) 244,381 + 268 + 17,699
Notes and bonds, nominal (2) 406,173 0 + 16,954
Notes and bonds, inflation-indexed (2) 13,994 0 + 1,752
Inflation compensation (3) 1,668 - 4 + 410
Federal agency (2) 0 0 - 10
Repurchase agreements (4) 36,500 + 11,500 - 750
Loans 175 + 125 + 116
Items in process of collection (967) 10,896 + 785 - 2,343
Bank premises 1,623 + 13 + 83
Other assets (5) 38,497 + 409 + 1,140
Total assets (967) 767,892 + 13,080 + 34,785
Liabilities
Federal Reserve notes net of FR Bank holdings 688,750 + 7,102 + 36,859
Reverse repurchase agreements (6) 19,764 + 2,107 - 632
Deposits (0) 30,293 + 3,783 + 589
Depository institutions 25,242 + 6,507 + 541
U.S. Treasury, general account 4,670 - 2,785 + 8
Foreign official 128 + 45 - 11
Other (0) 253 + 17 + 50
Deferred availability cash items (967) 8,562 + 230 - 1,885
Other liabilities and accrued dividends (7) 2,367 + 37 - 94
Total liabilities (967) 749,737 + 13,260 + 34,839
Capital Accounts
Capital paid in 8,843 + 4 + 461
Surplus 8,380 0 + 1,068
Other capital accounts 931 - 186 - 1,585
Total capital 18,154 - 182 - 55
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, December 24, 2003
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 175 54,448 + 16,180 0 0 36,500 19,764
16 days to 90 days 0 140,122 - 15,822 0 0 0 0
91 days to 1 year 0 164,116 - 92 0 0 ------ ------
Over 1 to 5 years ------ 179,070 - 1 0 0 ------ ------
Over 5 to 10 years ------ 51,313 - 2 0 0 ------ ------
Over 10 years ------ 77,147 - 2 0 0 ------ ------
All 175 666,216 + 263 0 0 36,500 19,764
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 December 24, 2003
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 11,039 495 4,706 380 477 808 863 982 331 224 303 507 963
Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234
Coin 747 25 33 39 36 84 86 92 53 24 43 143 89
Securities, repurchase agreements,
and loans 702,891 32,209 321,529 20,829 31,217 51,234 45,012 67,344 20,960 14,882 17,911 26,109 53,657
Securities held outright 666,216 32,209 285,029 20,829 31,217 51,234 45,007 67,321 20,960 14,871 17,904 26,109 53,527
U.S. Treasury (1) 666,216 32,209 285,029 20,829 31,217 51,234 45,007 67,321 20,960 14,871 17,904 26,109 53,527
Bills (2) 244,381 11,815 104,554 7,640 11,451 18,794 16,509 24,695 7,689 5,455 6,568 9,577 19,635
Notes and bonds(3) 421,836 20,394 180,475 13,188 19,766 32,440 28,498 42,627 13,271 9,416 11,337 16,532 33,892
Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Repurchase agreements(4) 36,500 0 36,500 0 0 0 0 0 0 0 0 0 0
Loans 175 0 0 0 0 0 5 22 0 11 6 0 130
Items in process of collection 11,863 1,034 1,281 684 1,078 662 1,212 849 639 433 647 438 2,905
Bank premises 1,623 92 190 53 150 144 277 124 51 125 56 181 178
Other assets(5) 38,497 1,790 13,536 1,138 2,439 6,256 2,226 3,588 987 1,182 924 1,093 3,338
Interdistrict settlement account 0 + 2,952 -11,592 + 901 - 2,318 - 264 + 3,221 - 6,897 - 1,693 - 453 - 213 + 6,570 + 9,787
Total Assets 768,859 38,712 330,556 24,106 33,184 59,070 53,063 66,294 21,400 16,446 19,738 35,139 71,151
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 December 24, 2003
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 801,244 38,808 326,915 29,391 33,214 60,221 65,999 67,283 23,289 15,538 21,601 39,830 79,156
Less: notes held by F.R. Banks 112,494 4,823 24,006 8,293 4,900 10,260 18,415 8,550 4,085 1,400 4,126 7,179 16,456
Federal Reserve notes, net 688,750 33,985 302,908 21,098 28,314 49,961 47,583 58,733 19,204 14,138 17,475 32,651 62,700
Reverse repurchase agreements (1) 19,764 956 8,456 618 926 1,520 1,335 1,997 622 441 531 775 1,588
Deposits 30,293 2,054 13,184 1,385 1,678 2,462 1,923 2,606 670 711 827 764 2,030
Depository institutions 25,242 2,051 8,253 1,383 1,673 2,368 1,921 2,601 667 710 825 763 2,027
U.S. Treasury, general account 4,670 0 4,670 0 0 0 0 0 0 0 0 0 0
Foreign official 128 2 105 1 3 7 2 3 1 1 1 1 3
Other 253 1 155 1 3 86 0 1 2 0 1 1 0
Deferred availability cash items 9,529 666 1,162 378 654 652 1,022 836 327 366 441 518 2,508
Other liabilities and accrued
dividends (2) 2,367 134 720 94 130 275 187 235 106 88 88 120 191
Total liabilities 750,704 37,794 326,429 23,573 31,703 54,869 52,051 64,407 20,928 15,744 19,362 34,827 69,017
Capital
Capital paid in 8,843 448 2,028 259 729 2,074 490 917 232 345 162 111 1,048
Surplus 8,380 436 1,809 233 702 2,073 475 858 199 340 201 186 868
Other capital 931 33 290 42 50 54 46 113 40 18 13 15 218
Total liabilities and capital 768,859 38,712 330,556 24,106 33,184 59,070 53,063 66,294 21,400 16,446 19,738 35,139 71,151
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
Dec 24, 2003
Federal Reserve notes outstanding 801,244
Less: Notes held by F.R. Banks
not subject to collateralization 112,494
Federal Reserve Notes to be
collateralized 688,750
Collateral held against Federal Reserve
notes 688,750
Gold certificate account 11,039
Special drawing rights
certificate account 2,200
U.S. Treasury and agency securities
pledged (1) 675,512
Other assets pledged 0
Memo:
Total U.S. Treasury and agency
securities (1) 702,716
Less:face value of securities under
reverse repurchase agreements 19,769
U.S. Treasury and agency securities
eligible to be pledged 682,947
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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