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 August 5, 2004 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 Aug 4, 2004 Jul 28, 2004 Aug 6, 2003 Aug 4, 2004 Reserve Bank credit 757,633 + 5,403 + 41,657 752,669 Securities held outright 693,728 + 218 + 40,732 693,734 U.S. Treasury1 693,728 + 218 + 40,742 693,734 Bills2 255,248 0 + 15,393 255,248 Notes and bonds, nominal2 421,546 + 200 + 22,693 421,546 Notes and bonds, inflation-indexed2 14,862 0 + 2,048 14,862 Inflation compensation3 2,072 + 19 + 608 2,078 Federal agency2 0 0 - 10 0 Repurchase agreements4 22,929 + 4,322 + 429 17,000 Loans to depository institutions 265 + 2 + 111 321 Primary credit 31 - 6 + 10 95 Secondary credit 0 0 0 0 Seasonal credit 234 + 8 + 101 225 Float 237 + 750 - 233 1,112 Other Federal Reserve assets 40,475 + 112 + 619 40,502 Gold stock 11,044 - 1 + 1 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 36,050 + 14 + 905 36,050 Total factors supplying reserve funds 806,927 + 5,417 + 42,563 801,963 Currency in circulation5 733,915 + 921 + 39,611 735,910 Reverse repurchase agreements6 20,588 + 629 + 1,642 20,576 Foreign official and international accounts 20,588 + 629 + 1,642 20,576 Dealers 0 0 0 0 Treasury cash holdings 283 - 6 - 82 287 Deposits with F.R. Banks, other than reserve balances 14,909 - 227 - 2,489 15,282 U.S. Treasury, general account 4,701 - 255 - 938 5,081 Foreign official 98 + 21 - 79 83 Service-related 9,801 - 1 - 1,486 9,801 Required clearing balances 9,801 - 1 - 1,096 9,801 Adjustments to compensate for float 0 0 - 390 0 Other 309 + 9 + 15 317 Other liabilities and capital 21,345 + 19 + 1,495 21,359 Total factors, other than reserve balances, absorbing reserve funds 791,040 + 1,335 + 40,177 793,413 Reserve balances with Federal Reserve Banks 15,887 + 4,082 + 2,386 8,550 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,247,923 + 8,497 + 311,345 1,255,000 U.S. Treasury 1,013,332 + 8,261 + 260,732 1,017,542 Federal agency 234,590 + 234 + 50,612 237,458 Securities lent to dealers 380 - 683 - 2,385 312 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.

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 Aug 4, 2004 Jul 28, 2004 Aug 6, 2003 Assets Gold certificate account 11,040 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 740 + 5 - 130 Securities, repurchase agreements, and loans 711,055 - 4,594 + 39,628 Securities held outright 693,734 + 17 + 40,700 U.S. Treasury1 693,734 + 17 + 40,710 Bills2 255,248 0 + 15,356 Notes and bonds, nominal2 421,546 0 + 22,693 Notes and bonds, inflation-indexed2 14,862 0 + 2,048 Inflation compensation3 2,078 + 17 + 613 Federal agency2 0 0 - 10 Repurchase agreements4 17,000 - 4,500 - 1,250 Loans 321 - 111 + 178 Items in process of collection (722) 7,611 + 2,628 - 1,726 Bank premises 1,709 + 2 + 123 Other assets5 38,864 + 153 + 433 Total assets (722) 773,219 - 1,807 + 38,328 Liabilities Federal Reserve notes, net of F.R. Bank holdings 700,882 + 1,570 + 38,656 Reverse repurchase agreements6 20,576 + 1,213 + 1,514 Deposits (0) 23,903 - 5,566 - 1,285 Depository institutions 18,422 - 6,233 + 82 U.S. Treasury, general account 5,081 + 634 - 1,319 Foreign official 83 + 2 - 58 Other (0) 317 + 31 + 10 Deferred availability cash items (722) 6,499 + 735 - 2,044 Other liabilities and accrued dividends7 2,446 - 19 + 321 Total liabilities (722) 754,306 - 2,068 + 37,162 Capital accounts Capital paid in 9,253 + 7 + 532 Surplus 8,829 + 50 + 449 Other capital accounts 830 + 203 + 184 Total capital 18,913 + 261 + 1,166 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, August 4, 2004 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 102 56,302 + 347 0 0 17,000 20,576 16 days to 90 days 219 150,366 - 2,644 0 0 0 0 91 days to 1 year 0 165,961 + 810 0 0 . . . . . . Over 1 year to 5 years . . . 192,427 + 1,493 0 0 . . . . . . Over 5 years to 10 years . . . 51,869 + 4 0 0 . . . . . . Over 10 years . . . 76,808 + 6 0 0 . . . . . . All 321 693,734 + 17 0 0 17,000 20,576 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 August 4, 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 11,0 4 0 4 9 4 4,6 5 0 3 8 2 4 5 2 8 1 9 8 9 4 9 2 4 3 2 5 2 1 8 3 0 2 5 2 5 1,055 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 7 4 0 2 0 3 4 3 7 4 2 6 7 9 5 9 1 5 2 2 0 4 6 1 3 4 104 Securities, repurchase agreements, and loans 711,0 5 5 32,5 7 6 317,9 0 2 20,6 4 1 29,6 4 3 52,7 2 7 46,7 9 3 62,5 6 0 20,4 1 5 15,2 0 6 18,2 6 1 31,6 3 3 62,698 Securities held outright 693,7 3 4 32,5 7 6 300,8 1 2 20,6 3 3 29,6 4 3 52,7 2 7 46,7 8 4 62,4 9 0 20,3 8 1 15,1 3 1 18,2 3 0 31,6 3 1 62,695 U.S. Treasury1 693,7 3 4 32,5 7 6 300,8 1 2 20,6 3 3 29,6 4 3 52,7 2 7 46,7 8 4 62,4 9 0 20,3 8 1 15,1 3 1 18,2 3 0 31,6 3 1 62,695 Bills2 255,2 4 8 11,9 8 6 110,6 7 9 7,5 9 2 10,9 0 7 19,4 0 0 17,2 1 3 22,9 9 2 7,4 9 9 5,5 6 7 6,7 0 7 11,6 3 8 23,067 Notes and bonds3 438,4 8 6 20,5 9 0 190,1 3 3 13,0 4 2 18,7 3 7 33,3 2 7 29,5 7 0 39,4 9 8 12,8 8 2 9,5 6 4 11,5 2 3 19,9 9 3 39,627 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 17,0 0 0 0 17,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 3 2 1 0 9 0 8 0 0 9 7 0 3 4 7 5 3 0 3 3 Items in process of collection 8,3 3 3 4 7 8 3 8 0 4 0 0 4 8 9 3 1 9 1,0 5 6 9 6 7 3 9 6 5 8 2 6 0 5 2 5 8 2,402 Bank premises 1,7 0 9 9 6 1 9 2 5 1 1 5 4 1 4 5 2 7 9 1 3 8 5 6 1 2 4 7 6 2 2 0 180 Other assets5 38,8 6 4 1,7 6 2 14,1 2 7 1,1 3 0 2,3 6 0 5,9 6 4 2,2 3 3 3,5 0 2 1,0 1 8 1,1 3 7 8 1 2 1,0 2 6 3,795 Interdistrict settlement account 0 + 2,6 2 3 -29,4 4 6 + 3,8 4 3 + 8 1 8 - 6 6 4 + 8,9 7 3 - 1,6 8 5 + 1,1 7 6 - 5 7 8 + 1,3 4 2 + 4,0 1 2 + 9,586 Total assets 773,9 4 0 38,1 6 3 308,7 1 1 26,5 6 7 34,0 6 2 59,5 2 3 60,4 8 9 66,7 0 9 23,5 0 8 16,7 3 8 21,5 0 9 37,9 0 6 80,054 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 August 4, 2004 (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 821,80 2 38,5 6 4 316,3 0 2 32,5 3 6 34,9 4 2 61,6 0 9 72,2 5 4 67,8 6 9 24,9 5 6 15,8 5 2 23,9 8 0 43,0 6 3 89,876 Less: notes held by F.R. Banks 120,92 0 4,3 3 6 31,1 3 6 8,6 9 8 5,6 6 3 11,2 3 1 17,3 4 1 7,9 7 6 3,3 8 3 1,1 1 7 4,6 1 4 7,5 4 2 17,883 Federal Reserve notes, net 700,88 2 34,2 2 8 285,1 6 6 23,8 3 8 29,2 7 9 50,3 7 8 54,9 1 2 59,8 9 3 21,5 7 4 14,7 3 5 19,3 6 6 35,5 2 1 71,993 Reverse repurchase agreements1 20,57 6 9 6 6 8,9 2 2 6 1 2 8 7 9 1,5 6 4 1,3 8 8 1,8 5 3 6 0 4 4 4 9 5 4 1 9 3 8 1,859 Deposits 23,90 3 1,2 4 5 8,7 4 4 8 8 0 1,7 8 2 2,6 6 8 2,1 1 3 2,1 8 8 6 0 7 3 8 1 6 8 2 7 3 6 1,877 Depository institutions 18,42 2 1,2 4 2 3,4 3 1 8 7 9 1,7 7 9 2,5 2 2 2,1 1 1 2,1 8 4 6 0 4 3 8 0 6 8 1 7 3 5 1,873 U.S. Treasury, general account 5,08 1 0 5,0 8 1 0 0 0 0 0 0 0 0 0 0 Foreign official 8 3 2 6 0 1 2 7 2 3 1 1 1 0 4 Other 31 7 1 1 7 3 0 0 1 3 9 0 1 2 0 1 0 0 Deferred availability cash items 7,22 0 5 6 1 6 6 6 5 7 1 4 6 8 5 3 1 8 4 2 4 6 1 1 4 6 4 7 8 5 0 3 3 0 1 1,691 Other liabilities and accrued dividends2 2,44 6 1 3 3 7 9 8 9 6 1 2 4 2 5 4 1 9 7 2 3 1 1 0 7 8 2 9 2 1 3 5 196 Total liabilities 755,02 8 37,1 3 3 304,2 9 5 25,9 9 7 32,5 3 2 55,3 9 5 59,4 5 2 64,6 2 7 23,0 3 8 16,1 2 6 21,1 8 5 37,6 3 1 77,616 Capital Capital paid in 9,25 3 5 0 6 2,1 1 6 2 8 3 7 5 9 2,0 7 7 5 0 6 1,0 2 4 2 3 2 2 6 2 1 5 3 1 3 1 1,203 Surplus 8,82 9 4 4 8 2,0 3 1 2 5 9 7 2 7 2,0 5 2 4 8 9 9 2 4 2 2 8 3 5 0 1 6 2 1 1 1 1,048 Other capital 83 0 7 5 2 6 9 2 8 4 4 0 4 1 1 3 5 1 0 0 9 3 3 186 Total liabilities and capital 773,94 0 38,1 6 3 308,7 1 1 26,5 6 7 34,0 6 2 59,5 2 3 60,4 8 9 66,7 0 9 23,5 0 8 16,7 3 8 21,5 0 9 37,9 0 6 80,054 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 Aug 4, 2004 Federal Reserve notes outstanding 821,802 Less: Notes held by F.R. Banks not subject to collateralization 120,920 Federal Reserve notes to be collateralized 700,882 Collateral held against Federal Reserve notes 700,882 Gold certificate account 11,040 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 687,643 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 710,734 Less: face value of securities under reverse repurchase agreements 20,582 U.S. Treasury and agency securities eligible to be pledged 690,152 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.