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Release Date: January 8, 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
January 8, 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 Jan 7, 2004 Dec 31, 2003 Jan 8, 2003 Jan 7, 2004
Federal Reserve Banks
Reserve Bank Credit 743,299 - 3,268 + 45,841 733,683
Securities held outright 666,704 + 302 + 37,288 666,720
U.S. Treasury (1) 666,704 + 302 + 37,298 666,720
Bills (2) 244,877 + 308 + 18,195 244,897
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) 1,659 - 7 + 396 1,655
Federal agency (2) 0 0 - 10 0
Repurchase agreements(4) 34,679 - 4,000 + 6,286 24,000
Loans to depository institutions 24 - 41 - 3 11
Primary credit 12 - 20 + 12 1
Secondary credit 0 0 0 0
Seasonal credit 11 - 22 - 6 10
Adjustment credit 0 0 - 10 0
Float 1,349 + 169 + 631 2,144
Other Federal Reserve assets 40,544 + 302 + 1,640 40,808
Gold stock 11,043 0 0 11,043
Special drawing rights certificate account 2,200 0 0 2,200
Treasury currency outstanding (5) 35,489 + 14 + 892 35,489
Total factors supplying reserve funds 792,031 - 3,255 + 46,733 782,415
Currency in circulation(5) 721,162 - 2,551 + 37,939 717,836
Reverse repurchase agreements (6) 22,477 + 842 + 3,944 19,587
Foreign official and international accounts 22,120 + 485 + 3,587 19,587
Dealers 357 + 357 + 357 0
Treasury cash holdings 321 + 2 - 49 323
Deposits with F.R.Banks, other than reserve balances 18,083 - 293 + 2,050 17,245
U.S. Treasury, general account 5,319 - 531 + 490 4,915
Foreign official 95 - 4 - 12 84
Service-related 12,021 - 88 + 1,135 12,021
Required clearing balances 11,830 - 1 + 1,295 11,830
Adjustments to compensate for float 192 - 86 - 159 192
Other 647 + 328 + 436 225
Other liabilities and capital 20,125 - 464 + 908 20,382
Total factors, other than reserve balances,
absorbing reserve funds 782,168 - 2,465 + 44,792 775,374
Reserve balances with Federal Reserve Banks 9,863 - 790 + 1,941 7,041
Memo (off-balance-sheet items):
Marketable securities held in custody for foreign
official and international accounts(2,7) 1,072,660 + 5,918 + 211,575 1,074,509
U.S. Treasury 862,004 + 6,132 + 167,987 861,930
Federal agency 210,656 - 213 + 43,588 212,579
Securities lent to dealers 3,200 + 114 + 2,240 2,328
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 Jan 7, 2004 Dec 31, 2003 Jan 8, 2003
Assets
Gold certificate account 11,039 0 0
Special drawing rights certificate account 2,200 0 0
Coin 725 + 3 - 271
Securities, repurchase agreements, and loans 690,731 - 19,746 + 27,547
Securities held outright 666,720 + 55 + 37,304
U.S. Treasury (1) 666,720 + 55 + 37,314
Bills (2) 244,897 + 64 + 18,215
Notes and bonds, nominal (2) 406,173 0 + 16,954
Notes and bonds, inflation-indexed (2) 13,994 0 + 1,752
Inflation compensation (3) 1,655 - 10 + 392
Federal agency (2) 0 0 - 10
Repurchase agreements (4) 24,000 - 19,750 - 9,750
Loans 11 - 51 - 7
Items in process of collection (1,002) 11,241 + 3,448 + 2,888
Bank premises 1,624 - 4 + 83
Other assets (5) 39,159 + 573 + 1,676
Total assets (1,002) 756,718 - 15,726 + 31,922
Liabilities
Federal Reserve notes net of FR Bank holdings 683,391 - 6,366 + 36,321
Reverse repurchase agreements (6) 19,587 - 6,065 + 878
Deposits (0) 25,080 - 4,580 - 6,055
Depository institutions 19,856 - 3,202 - 5,340
U.S. Treasury, general account 4,915 - 808 - 575
Foreign official 84 - 78 - 15
Other (0) 225 - 492 - 125
Deferred availability cash items (1,002) 8,279 + 697 - 220
Other liabilities and accrued dividends (7) 2,102 + 2 - 120
Total liabilities (1,002) 738,438 - 16,312 + 30,803
Capital Accounts
Capital paid in 8,851 + 4 + 465
Surplus 8,847 0 + 499
Other capital accounts 583 + 583 + 157
Total capital 18,281 + 587 + 1,120
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, January 7, 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 1 48,447 + 714 0 0 24,000 19,587
16 days to 90 days 10 147,438 + 8,091 0 0 0 0
91 days to 1 year 0 162,313 - 1,758 0 0 ------ ------
Over 1 to 5 years ------ 180,071 - 6,985 0 0 ------ ------
Over 5 to 10 years ------ 51,309 - 3 0 0 ------ ------
Over 10 years ------ 77,142 - 4 0 0 ------ ------
All 11 666,720 + 55 0 0 24,000 19,587
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 January 7, 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 11,039 495 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 725 25 29 37 32 83 81 92 53 24 42 140 86
Securities, repurchase agreements,
and loans 690,731 32,233 309,244 20,844 31,241 51,273 45,043 67,380 20,976 14,882 17,919 26,129 53,568
Securities held outright 666,720 32,233 285,244 20,844 31,241 51,273 45,041 67,372 20,976 14,882 17,918 26,129 53,567
U.S. Treasury (1) 666,720 32,233 285,244 20,844 31,241 51,273 45,041 67,372 20,976 14,882 17,918 26,129 53,567
Bills (2) 244,897 11,840 104,775 7,656 11,475 18,833 16,544 24,747 7,705 5,466 6,581 9,597 19,676
Notes and bonds(3) 421,823 20,393 180,469 13,188 19,766 32,439 28,497 42,625 13,271 9,416 11,336 16,531 33,891
Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Repurchase agreements(4) 24,000 0 24,000 0 0 0 0 0 0 0 0 0 0
Loans 11 0 0 0 0 0 2 7 0 0 1 0 0
Items in process of collection 12,243 680 1,035 612 459 559 988 1,347 562 708 680 722 3,892
Bank premises 1,624 93 189 53 151 145 278 125 49 125 57 182 178
Other assets(5) 39,159 1,821 13,806 1,156 2,485 6,358 2,271 3,655 999 1,189 929 1,098 3,392
Interdistrict settlement account 0 + 2,263 - 5,022 - 22 - 2,309 + 222 + 1,532 - 7,854 - 1,748 - 686 - 603 + 5,584 + 8,641
Total Assets 757,721 37,725 324,863 23,143 32,640 59,595 51,221 65,939 21,292 16,496 19,393 34,460 70,954
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 January 7, 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 799,397 38,741 326,440 29,309 33,026 60,125 65,473 67,259 23,290 15,595 21,594 39,747 78,796
Less: notes held by F.R. Banks 116,006 5,070 24,809 8,833 4,900 9,939 19,369 8,608 4,127 1,519 4,278 7,585 16,968
Federal Reserve notes, net 683,391 33,671 301,631 20,476 28,126 50,186 46,104 58,652 19,163 14,075 17,317 32,162 61,828
Reverse repurchase agreements (1) 19,587 947 8,380 612 918 1,506 1,323 1,979 616 437 526 768 1,574
Deposits 25,080 1,398 8,644 1,066 1,505 2,822 1,654 2,397 671 691 594 697 2,941
Depository institutions 19,856 1,396 3,508 1,065 1,501 2,756 1,653 2,394 668 690 592 696 2,938
U.S. Treasury, general account 4,915 0 4,915 0 0 0 0 0 0 0 0 0 0
Foreign official 84 2 60 1 3 7 2 3 1 1 1 1 3
Other 225 1 161 0 1 58 0 0 1 0 1 1 0
Deferred availability cash items 9,281 666 1,221 368 498 662 953 790 273 511 537 490 2,312
Other liabilities and accrued
dividends (2) 2,102 122 661 90 110 210 175 215 98 78 81 106 156
Total liabilities 739,440 36,804 320,537 22,612 31,156 55,386 50,209 64,033 20,821 15,793 19,054 34,223 68,811
Capital
Capital paid in 8,851 448 2,031 259 727 2,074 490 931 227 345 160 111 1,048
Surplus 8,847 448 2,031 259 727 2,074 489 924 228 346 162 111 1,048
Other capital 583 24 264 14 30 61 33 50 16 13 15 16 47
Total liabilities and capital 757,721 37,725 324,863 23,143 32,640 59,595 51,221 65,939 21,292 16,496 19,393 34,460 70,954
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
Jan 7, 2004
Federal Reserve notes outstanding 799,397
Less: Notes held by F.R. Banks
not subject to collateralization 116,006
Federal Reserve Notes to be
collateralized 683,391
Collateral held against Federal Reserve
notes 683,391
Gold certificate account 11,039
Special drawing rights
certificate account 2,200
U.S. Treasury and agency securities
pledged (1) 670,152
Other assets pledged 0
Memo:
Total U.S. Treasury and agency
securities (1) 690,720
Less:face value of securities under
reverse repurchase agreements 19,592
U.S. Treasury and agency securities
eligible to be pledged 671,128
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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Statistical releases