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 12, 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 11, 2004 Aug 4, 2004 Aug 13, 2003 Aug 11, 2004 Reserve Bank credit 754,791 - 2,839 + 42,967 750,586 Securities held outright 693,741 + 13 + 40,669 693,746 U.S. Treasury1 693,741 + 13 + 40,679 693,746 Bills2 255,248 0 + 15,321 255,248 Notes and bonds, nominal2 421,546 0 + 22,693 421,546 Notes and bonds, inflation-indexed2 14,862 0 + 2,048 14,862 Inflation compensation3 2,085 + 13 + 618 2,090 Federal agency2 0 0 - 10 0 Repurchase agreements4 20,036 - 2,893 + 2,357 16,000 Loans to depository institutions 239 - 26 + 94 231 Primary credit 16 - 15 + 9 4 Secondary credit 0 0 0 0 Seasonal credit 223 - 11 + 85 227 Float -297 - 530 - 892 -569 Other Federal Reserve assets 41,071 + 596 + 737 41,179 Gold stock 11,044 0 + 1 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 36,064 + 14 + 896 36,064 Total factors supplying reserve funds 804,098 - 2,825 + 43,863 799,894 Currency in circulation5 734,968 + 1,053 + 39,979 736,223 Reverse repurchase agreements6 20,422 - 166 + 859 20,606 Foreign official and international accounts 20,422 - 166 + 859 20,606 Dealers 0 0 0 0 Treasury cash holdings 289 + 6 - 80 304 Deposits with F.R. Banks, other than reserve balances 15,982 + 1,073 - 1,223 15,503 U.S. Treasury, general account 5,064 + 363 - 547 4,617 Foreign official 81 - 17 - 68 82 Service-related 10,539 + 738 - 618 10,539 Required clearing balances 10,529 + 728 - 383 10,529 Adjustments to compensate for float 10 + 10 - 235 10 Other 298 - 11 + 11 265 Other liabilities and capital 21,850 + 505 + 1,660 21,669 Total factors, other than reserve balances, absorbing reserve funds 793,510 + 2,470 + 41,194 794,305 Reserve balances with Federal Reserve Banks 10,588 - 5,295 + 2,669 5,589 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,256,264 + 8,341 + 316,480 1,256,074 U.S. Treasury 1,017,939 + 4,607 + 264,402 1,017,359 Federal agency 238,325 + 3,735 + 52,079 238,715 Securities lent to dealers 748 + 368 - 1,383 2,203 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 11, 2004 Aug 4, 2004 Aug 13, 2003 Assets Gold certificate account 11,040 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 750 + 10 - 138 Securities, repurchase agreements, and loans 709,977 - 1,078 + 37,526 Securities held outright 693,746 + 12 + 40,458 U.S. Treasury1 693,746 + 12 + 40,468 Bills2 255,248 0 + 15,106 Notes and bonds, nominal2 421,546 0 + 22,693 Notes and bonds, inflation-indexed2 14,862 0 + 2,048 Inflation compensation3 2,090 + 12 + 621 Federal agency2 0 0 - 10 Repurchase agreements4 16,000 - 1,000 - 3,000 Loans 231 - 90 + 67 Items in process of collection (717) 5,317 - 2,294 - 3,967 Bank premises 1,710 + 1 + 123 Other assets5 39,425 + 561 + 620 Total assets (717) 770,418 - 2,801 + 34,163 Liabilities Federal Reserve notes, net of F.R. Bank holdings 701,208 + 326 + 39,194 Reverse repurchase agreements6 20,606 + 30 + 1,468 Deposits (0) 21,048 - 2,855 - 6,167 Depository institutions 16,084 - 2,338 - 4,606 U.S. Treasury, general account 4,617 - 464 - 1,103 Foreign official 82 - 1 - 443 Other (0) 265 - 52 - 16 Deferred availability cash items (717) 5,886 - 613 - 1,958 Other liabilities and accrued dividends7 2,512 + 66 + 353 Total liabilities (717) 751,261 - 3,045 + 32,891 Capital accounts Capital paid in 9,260 + 7 + 536 Surplus 8,856 + 27 + 476 Other capital accounts 1,040 + 210 + 260 Total capital 19,157 + 244 + 1,273 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 11, 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 26 56,565 + 263 0 0 16,000 20,606 16 days to 90 days 205 149,322 - 1,044 0 0 0 0 91 days to 1 year 0 166,742 + 781 0 0 . . . . . . Over 1 year to 5 years . . . 192,432 + 5 0 0 . . . . . . Over 5 years to 10 years . . . 51,872 + 3 0 0 . . . . . . Over 10 years . . . 76,813 + 5 0 0 . . . . . . All 231 693,746 + 12 0 0 16,000 20,606 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 11, 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 5 0 2 0 4 0 3 5 4 4 6 7 9 7 9 1 5 1 2 0 4 7 1 3 1 106 Securities, repurchase agreements, and loans 709,9 7 7 32,5 7 7 316,8 1 7 20,6 4 5 29,6 4 4 52,7 2 9 46,7 9 3 62,5 5 6 20,4 0 4 15,2 1 5 18,2 6 3 31,6 3 5 62,698 Securities held outright 693,7 4 6 32,5 7 7 300,8 1 7 20,6 3 4 29,6 4 4 52,7 2 8 46,7 8 4 62,4 9 2 20,3 8 2 15,1 3 1 18,2 3 0 31,6 3 1 62,696 U.S. Treasury1 693,7 4 6 32,5 7 7 300,8 1 7 20,6 3 4 29,6 4 4 52,7 2 8 46,7 8 4 62,4 9 2 20,3 8 2 15,1 3 1 18,2 3 0 31,6 3 1 62,696 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 9 8 20,5 9 1 190,1 3 9 13,0 4 2 18,7 3 7 33,3 2 8 29,5 7 1 39,4 9 9 12,8 8 3 9,5 6 4 11,5 2 3 19,9 9 3 39,628 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 16,0 0 0 0 16,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 2 3 1 0 0 1 1 0 2 8 6 5 2 3 8 4 3 3 3 2 Items in process of collection 6,0 3 4 3 3 8 3 2 9 2 5 1 4 1 9 3 1 0 6 2 8 3 9 1 2 6 8 3 9 5 4 8 5 1 7 5 2,046 Bank premises 1,7 1 0 9 6 1 9 2 5 1 1 5 4 1 4 5 2 7 8 1 3 9 5 6 1 2 4 7 5 2 2 0 180 Other assets5 39,4 2 5 1,7 8 9 14,3 1 8 1,1 4 9 2,3 8 7 6,0 3 2 2,2 7 3 3,5 5 4 1,0 3 3 1,1 5 5 8 2 5 1,0 6 0 3,850 Interdistrict settlement account 0 + 2,9 0 8 -29,5 1 0 + 4,0 3 7 + 1 3 9 - 1,0 8 9 + 8,6 3 3 - 1,4 9 4 + 1,4 4 7 - 4 6 2 + 1,3 6 3 + 3,9 1 1 +10,117 Total assets 771,1 3 5 38,3 3 6 307,7 1 1 26,6 3 2 33,3 4 4 59,1 6 0 59,7 6 2 66,3 7 3 23,6 5 5 16,6 9 5 21,4 2 7 37,7 5 4 80,286 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 11, 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 823,35 0 38,8 5 8 316,3 4 1 32,7 7 7 34,9 7 5 62,1 3 5 72,2 5 4 67,9 5 1 25,1 2 8 15,9 2 3 24,0 6 4 43,0 8 2 89,864 Less: notes held by F.R. Banks 122,14 2 4,2 9 9 31,9 2 2 8,6 2 2 5,7 4 7 11,2 7 4 17,4 0 4 7,8 3 8 3,3 8 3 1,2 5 7 4,6 3 6 7,6 9 1 18,069 Federal Reserve notes, net 701,20 8 34,5 5 9 284,4 1 9 24,1 5 5 29,2 2 8 50,8 6 1 54,8 5 0 60,1 1 2 21,7 4 4 14,6 6 7 19,4 2 8 35,3 9 1 71,795 Reverse repurchase agreements1 20,60 6 9 6 8 8,9 3 5 6 1 3 8 8 1 1,5 6 6 1,3 9 0 1,8 5 6 6 0 5 4 4 9 5 4 2 9 4 0 1,862 Deposits 21,04 8 1,0 8 5 8,4 5 0 7 4 2 1,0 6 8 1,7 9 8 1,5 2 4 1,6 6 5 5 7 3 4 0 5 6 8 6 7 1 8 2,333 Depository institutions 16,08 4 1,0 8 2 3,6 1 0 7 4 1 1,0 6 4 1,6 9 7 1,5 2 3 1,6 6 1 5 7 0 4 0 4 6 8 4 7 1 8 2,330 U.S. Treasury, general account 4,61 7 0 4,6 1 7 0 0 0 0 0 0 0 0 0 0 Foreign official 8 2 2 5 9 1 2 7 2 3 1 1 1 0 4 Other 26 5 1 1 6 3 0 1 9 4 0 1 2 0 1 0 0 Deferred availability cash items 6,60 3 5 4 8 6 3 6 4 3 7 4 9 0 4 7 5 7 4 9 4 0 1 1 4 4 4 6 0 3 4 8 2 8 6 1,630 Other liabilities and accrued dividends2 2,51 2 1 3 7 8 1 7 1 0 0 1 3 1 2 5 8 2 0 0 2 3 9 1 1 0 8 7 9 5 1 3 7 202 Total liabilities 751,97 8 37,2 9 5 303,2 5 7 26,0 4 7 31,7 9 7 54,9 5 8 58,7 1 4 64,2 7 3 23,1 7 6 16,0 6 8 21,1 0 0 37,4 7 1 77,823 Capital Capital paid in 9,26 0 5 0 6 2,1 1 6 2 8 4 7 5 7 2,0 8 4 5 0 6 1,0 2 4 2 3 2 2 6 2 1 5 3 1 3 1 1,203 Surplus 8,85 6 4 4 8 2,0 3 1 2 5 9 7 2 7 2,0 7 4 4 8 9 9 2 4 2 2 8 3 5 5 1 6 2 1 1 1 1,048 Other capital 1,04 0 8 6 3 0 7 4 3 6 2 4 4 5 3 1 5 2 1 9 1 0 1 2 4 1 212 Total liabilities and capital 771,13 5 38,3 3 6 307,7 1 1 26,6 3 2 33,3 4 4 59,1 6 0 59,7 6 2 66,3 7 3 23,6 5 5 16,6 9 5 21,4 2 7 37,7 5 4 80,286 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 11, 2004 Federal Reserve notes outstanding 823,350 Less: Notes held by F.R. Banks not subject to collateralization 122,142 Federal Reserve notes to be collateralized 701,208 Collateral held against Federal Reserve notes 701,208 Gold certificate account 11,040 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 687,969 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 709,746 Less: face value of securities under reverse repurchase agreements 20,614 U.S. Treasury and agency securities eligible to be pledged 689,132 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.