H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks October 30, 2003 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions Week ended Change from week ended Wednesday at Federal Reserve Banks Oct 29, 2003 Oct 22, 2003 Oct 30, 2002 Oct 29, 2003 Reserve Bank credit 726,848 + 5,726 + 64,412 727,168 Securities held outright 657,966 + 1,341 + 49,263 658,682 U.S. Treasury1 657,956 + 1,341 + 49,263 658,672 Bills2 242,161 + 164 + 35,487 242,308 Notes and bonds, nominal2 400,759 + 1,164 + 12,193 401,322 Notes and bonds, inflation-indexed2 13,454 0 + 1,212 13,454 Inflation compensation3 1,582 + 13 + 369 1,587 Federal agency2 10 0 0 10 Repurchase agreements4 28,071 + 3,500 + 14,000 28,000 Loans to depository institutions 90 - 10 - 11 82 Primary credit 19 + 5 + 19 11 Secondary credit 0 0 0 0 Seasonal credit 71 - 15 - 27 71 Adjustment credit 0 0 - 3 0 Float -102 + 230 - 313 -487 Other Federal Reserve assets 40,823 + 667 + 1,473 40,891 Gold stock 11,043 0 + 1 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 35,313 + 14 + 942 35,313 Total factors supplying reserve funds 775,404 + 5,740 + 65,355 775,724 Currency in circulation5 702,012 - 622 + 39,910 703,467 Reverse repurchase agreements6 19,174 + 541 + 19,174 19,286 Foreign official and international accounts 19,174 + 541 + 19,174 19,286 Dealers 0 0 0 0 Treasury cash holdings 399 + 10 - 1 390 Deposits with F.R. Banks, other than reserve balances 16,920 - 394 + 1,576 17,472 U.S. Treasury, general account 5,125 - 278 + 326 5,672 Foreign official 81 - 16 - 76 85 Service-related 11,432 - 92 + 1,249 11,432 Required clearing balances 11,340 0 + 1,370 11,340 Adjustments to compensate for float 92 - 92 - 121 92 Other 283 - 6 + 78 283 Other liabilities and capital 20,506 + 270 + 855 20,106 Total factors, other than reserve balances, absorbing reserve funds 759,012 - 194 + 61,515 760,721 Reserve balances with Federal Reserve Banks 16,393 + 5,935 + 3,841 15,003 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 995,620 + 224 . . . 997,559 U.S. Treasury 794,655 - 4,381 . . . 794,308 Federal agency 200,965 + 4,605 . . . 203,252 Securities lent to dealers 1,075 - 840 - 659 2,073 Note: Components may not sum to totals because of rounding. . . . Not available. 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.

H.4.1 2. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Change since Eliminations from Assets, liabilities, and capital consolidation Wednesday Wednesday Wednesday Oct 29, 2003 Oct 22, 2003 Oct 30, 2002 Assets Gold certificate account 11,039 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 826 + 16 - 253 Securities, repurchase agreements, and loans 686,764 + 4,406 + 57,501 Securities held outright 658,682 + 1,918 + 50,007 U.S. Treasury1 658,672 + 1,918 + 50,007 Bills2 242,308 + 177 + 35,667 Notes and bonds, nominal2 401,322 + 1,727 + 12,756 Notes and bonds, inflation-indexed2 13,454 0 + 1,212 Inflation compensation3 1,587 + 13 + 372 Federal agency2 10 0 0 Repurchase agreements4 28,000 + 2,500 + 7,500 Loans 82 - 12 - 6 Items in process of collection (1,512) 6,443 - 1,162 - 2,916 Bank premises 1,596 - 1 + 68 Other assets5 39,289 + 437 + 1,209 Total assets (1,512) 748,158 + 3,696 + 55,611 Liabilities Federal Reserve notes, net of F.R. Bank holdings 669,367 + 160 + 38,202 Reverse repurchase agreements6 19,286 + 1,175 + 19,286 Deposits (0) 32,601 + 3,298 - 1,852 Depository institutions 26,560 + 2,758 - 2,060 U.S. Treasury, general account 5,672 + 549 + 284 Foreign official 85 - 14 - 153 Other (0) 283 + 4 + 77 Deferred availability cash items (1,512) 6,799 - 714 - 548 Other liabilities and accrued dividends7 2,303 + 40 - 149 Total liabilities (1,512) 730,355 + 3,957 + 54,937 Capital accounts Capital paid in 8,742 + 8 + 471 Surplus 8,380 0 + 1,068 Other capital accounts 681 - 269 - 865 Total capital 17,803 - 260 + 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. 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. 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, October 29, 2003 Millions of dollars U.S. Treasury Federal agency Reverse securities1 securities Repurchase Maturity Loans repurchase Weekly Weekly agreements2 Holdings Holdings agreements2 changes changes Within 15 days 73 49,082 - 1,347 0 0 28,000 19,286 16 days to 90 days 9 144,424 + 1,622 10 0 0 0 91 days to 1 year 0 157,733 - 98 0 0 . . . . . . Over 1 year to 5 years . . . 178,364 + 1,450 0 0 . . . . . . Over 5 years to 10 years . . . 51,958 + 285 0 0 . . . . . . Over 10 years . . . 77,110 + 5 0 0 . . . . . . All 82 658,672 + 1,918 10 0 28,000 19,286 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.

H.4.1 4. Statement of Condition of Each Federal Reserve Bank on October 29, 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 11,0 3 9 4 9 5 4,7 0 6 3 8 0 4 7 7 8 0 8 8 6 3 9 8 2 3 3 1 2 2 4 3 0 3 5 0 7 963 Special drawing rights certificate acct. 2,2 0 0 1 1 5 8 7 4 8 3 1 0 4 1 4 7 1 6 6 2 1 2 7 1 3 0 6 6 9 8 234 Coin 8 2 6 2 6 3 7 4 2 3 7 9 6 1 0 5 9 7 6 0 2 3 4 7 1 5 1 105 Securities, repurchase agreements, and loans 686,7 6 4 31,8 4 4 309,8 0 5 20,5 9 6 30,8 6 4 50,6 5 5 44,5 0 2 66,5 8 1 20,7 3 1 14,7 2 9 17,7 1 8 25,8 1 4 52,925 Securities held outright 658,6 8 2 31,8 4 4 281,8 0 5 20,5 9 3 30,8 6 4 50,6 5 5 44,4 9 8 66,5 6 0 20,7 2 3 14,7 0 3 17,7 0 2 25,8 1 4 52,921 U.S. Treasury1 658,6 7 2 31,8 4 4 281,8 0 1 20,5 9 3 30,8 6 4 50,6 5 4 44,4 9 7 66,5 5 9 20,7 2 3 14,7 0 3 17,7 0 1 25,8 1 3 52,921 Bills2 242,3 0 8 11,7 1 5 103,6 6 7 7,5 7 6 11,3 5 4 18,6 3 4 16,3 6 9 24,4 8 5 7,6 2 3 5,4 0 9 6,5 1 2 9,4 9 6 19,468 Notes and bonds3 416,3 6 4 20,1 2 9 178,1 3 4 13,0 1 7 19,5 1 0 32,0 2 0 28,1 2 8 42,0 7 4 13,0 9 9 9,2 9 4 11,1 9 0 16,3 1 7 33,452 Federal agency2 1 0 0 4 0 0 1 1 1 0 0 0 0 1 Repurchase agreements4 28,0 0 0 0 28,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 8 2 0 0 3 0 0 4 2 1 8 2 6 1 6 0 4 Items in process of collection 7,9 5 5 4 6 7 6 0 5 4 9 5 3 9 5 4 7 0 6 8 5 6 1 7 3 9 4 4 5 1 5 9 1 4 1 0 2,375 Bank premises 1,5 9 6 9 1 1 8 9 5 2 1 5 0 1 4 3 2 7 7 1 2 1 4 4 1 2 5 5 5 1 7 1 177 Other assets5 39,2 8 9 1,8 2 6 14,1 3 2 1,0 9 2 2,4 5 1 6,1 9 8 2,2 8 6 3,6 7 2 1,0 1 8 1,1 7 2 9 3 7 1,1 3 2 3,374 Interdistrict settlement account 0 + 1,2 2 3 + 2 1 4 - 1,3 0 3 - 2,0 8 5 - 3 0 0 + 2,2 5 2 - 7,9 7 0 - 1,6 8 7 + 4 2 7 - 4 4 2 + 3,2 6 0 + 6,409 Total assets 749,6 7 0 36,0 8 8 330,5 6 3 21,4 3 6 32,3 9 2 58,2 1 7 51,1 3 6 64,3 1 2 20,9 6 2 17,1 8 1 19,2 7 6 31,5 4 4 66,562 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.

H.4.1 4. Statement of Condition of Each Federal Reserve Bank on October 29, 2003 (continued) Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco Liabilities Federal Reserve notes outstanding 789,29 3 36,4 8 7 326,7 8 8 27,4 4 2 32,8 1 1 59,3 4 5 65,3 5 4 66,7 7 8 23,3 8 8 15,7 3 0 21,4 8 4 36,9 6 3 76,723 Less: notes held by F.R. Banks 119,92 6 5,5 9 3 22,7 3 0 8,7 3 6 5,7 6 9 10,4 6 5 19,0 6 7 10,4 8 5 4,5 9 0 1,5 0 9 4,6 3 4 8,0 4 3 18,305 Federal Reserve notes, net 669,36 7 30,8 9 4 304,0 5 8 18,7 0 6 27,0 4 2 48,8 8 1 46,2 8 6 56,2 9 4 18,7 9 7 14,2 2 0 16,8 4 9 28,9 2 0 58,418 Reverse repurchase agreements1 19,28 6 9 3 2 8,2 5 1 6 0 3 9 0 4 1,4 8 3 1,3 0 3 1,9 4 9 6 0 7 4 3 0 5 1 8 7 5 6 1,549 Deposits 32,60 1 2,4 2 8 12,4 9 9 1,0 1 6 2,4 3 9 2,9 0 3 1,6 0 4 3,2 9 9 7 3 4 1,2 1 4 9 5 9 9 9 2 2,513 Depository institutions 26,56 0 2,4 1 9 6,6 0 5 1,0 1 5 2,4 3 5 2,7 9 1 1,6 0 2 3,2 9 5 7 2 6 1,2 1 3 9 5 8 9 9 1 2,510 U.S. Treasury, general account 5,67 2 0 5,6 7 2 0 0 0 0 0 0 0 0 0 0 Foreign official 8 5 2 6 1 1 3 7 2 3 1 1 1 1 3 Other 28 3 7 1 6 1 0 1 1 0 4 0 1 7 0 1 0 0 Deferred availability cash items 8,31 1 7 9 0 8 9 8 4 9 3 4 6 4 5 5 0 7 8 4 6 7 0 2 5 6 5 2 7 4 5 9 3 7 6 2,045 Other liabilities and accrued dividends2 2,30 3 1 3 4 6 9 8 9 4 1 2 5 2 5 8 1 8 4 2 3 2 1 0 4 8 9 8 8 1 1 6 181 Total liabilities 731,86 7 35,1 7 8 326,4 0 6 20,9 1 2 30,9 7 3 54,0 7 5 50,1 6 1 62,4 4 3 20,4 9 8 16,4 8 0 18,8 7 4 31,1 6 1 64,706 Capital Capital paid in 8,74 2 4 4 8 1,9 9 9 2 5 9 7 0 5 2,0 6 1 4 7 8 9 1 7 2 2 9 3 4 8 1 9 6 1 8 4 918 Surplus 8,38 0 4 3 6 1,8 0 9 2 3 3 7 0 2 2,0 7 3 4 7 5 8 5 8 1 9 9 3 4 0 2 0 1 1 8 6 868 Other capital 68 1 2 6 3 5 0 3 2 1 2 9 2 1 9 4 3 7 1 3 5 1 3 70 Total liabilities and capital 749,67 0 36,0 8 8 330,5 6 3 21,4 3 6 32,3 9 2 58,2 1 7 51,1 3 6 64,3 1 2 20,9 6 2 17,1 8 1 19,2 7 6 31,5 4 4 66,562 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 Wednesday Federal Reserve notes and collateral Oct 29, 2003 Federal Reserve notes outstanding 789,293 Less: Notes held by F.R. Banks not subject to collateralization 119,926 Federal Reserve notes to be collateralized 669,367 Collateral held against Federal Reserve notes 669,367 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 656,127 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 686,682 Less: face value of securities under reverse repurchase agreements 19,319 U.S. Treasury and agency securities eligible to be pledged 667,363 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.